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EXECUTION VERSION   Executed Credit Agreement final   1627413         SECOND AMENDED AND RESTATED   MULTICURRENCY CREDIT AGREEMENT   DATED AS OF   JUNE 21, 2016   AMONG   JONES LANG LASALLE FINANCE B.V.,   THE GUARANTORS PARTY HERETO,   THE LENDERS PARTY HERETO,   AND   BANK OF MONTREAL,   as Administrative Agent      BMO CAPITAL MARKETS CORP.,   and   MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED,   as   Joint Book Runners,   BMO CAPITAL MARKETS CORP.,   MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED,   BARCLAYS BANK PLC,   THE ROYAL BANK OF SCOTLAND PLC,   JPMORGAN CHASE BANK, N.A.,   and   WELLS FARGO BANK, N.A.,   as Joint Lead Arrangers,   BANK OF AMERICA, N.A.,   as Syndication Agent,   and   BARCLAYS BANK PLC,   THE ROYAL BANK OF SCOTLAND PLC,   JPMORGAN CHASE BANK, NATIONAL ASSOCIATION,   FIFTH THIRD BANK,   PNC BANK, NATIONAL ASSOCIATION,   HSBC BANK USA, N.A.,   U.S. BANK NATIONAL ASSOCIATION,   and   WELLS FARGO BANK, N.A.,    as Co-Documentation Agents     

 

-i-   TABLE OF CONTENTS      (This Table of Contents is not part of the Agreement)   SECTION HEADING PAGE   SECTION 1. THE CREDIT FACILITIES ................................................................................1   Section 1.1. Revolving Credit Commitments ............................................................1   Section 1.2. The Swingline. .......................................................................................2   Section 1.3. Letters of Credit .....................................................................................4   Section 1.4. Applicable Interest Rates .......................................................................9   Section 1.5. Minimum Borrowing Amounts .............................................................9   Section 1.6. Manner of Borrowing Loans and Designating Interest Rates   Applicable to Loans ...............................................................................9   Section 1.7. Interest Periods.....................................................................................12   Section 1.8. Maturity of Loans ................................................................................13   Section 1.9. Prepayments .........................................................................................13   Section 1.10. Default Rate. ........................................................................................14   Section 1.11. Evidence of Indebtedness; Notes .........................................................15   Section 1.12. Funding Indemnity. ..............................................................................16   Section 1.13. Commitment Terminations ..................................................................16   Section 1.14. Substitution of Lenders ........................................................................17   Section 1.15. Increase in Revolving Credit Commitments and New Term Loans ....18   Section 1.16. Defaulting Lenders...............................................................................20   Section 1.17. Cash Collateral for Fronting Exposure ................................................23   SECTION 2. FEES ............................................................................................................24   Section 2.1. Fees ......................................................................................................24   SECTION 3. PLACE AND APPLICATION OF PAYMENTS ....................................................25   Section 3.1. Place and Application of Payments .....................................................25   SECTION 4. DEFINITIONS; INTERPRETATION ..................................................................26   Section 4.1. Definitions............................................................................................26   Section 4.2. Interpretation ........................................................................................49   Section 4.3. Change in Accounting Principles.........................................................49   Section 4.4. Limited Condition Acquisition ............................................................50   Section 4.5. Letter of Credit Amounts .....................................................................50   SECTION 5. REPRESENTATIONS AND WARRANTIES ........................................................51   Section 5.1. Corporate Organization and Authority ................................................51   Section 5.2. Subsidiaries ..........................................................................................51   Section 5.3. Authority and Validity of Obligations .................................................52     

 

-ii-   Section 5.4. Financial Statements ............................................................................52   Section 5.5. No Litigation; No Labor Controversies ...............................................53   Section 5.6. Taxes ....................................................................................................53   Section 5.7. Approvals .............................................................................................53   Section 5.8. ERISA ..................................................................................................53   Section 5.9. Government Regulation .......................................................................53   Section 5.10. Margin Stock ........................................................................................54   Section 5.11. Licenses and Authorizations; Compliance with Environmental and   Health Laws .........................................................................................54   Section 5.12. Ownership of Property; Liens ..............................................................54   Section 5.13. No Burdensome Restrictions; Compliance with Agreements .............54   Section 5.14. Accuracy of Information ......................................................................55   Section 5.15. Sanction Programs ...............................................................................55   Section 5.16. Claims Pari Passu .................................................................................55   Section 5.17. Solvency ...............................................................................................55   SECTION 6. CONDITIONS PRECEDENT ............................................................................55   Section 6.1. Initial Credit Event ...............................................................................56   Section 6.2. All Credit Events..................................................................................57   SECTION 7. COVENANTS ................................................................................................58   Section 7.1. Corporate Existence; Subsidiaries .......................................................58   Section 7.2. Maintenance .........................................................................................58   Section 7.3. Taxes ....................................................................................................58   Section 7.4. ERISA ..................................................................................................58   Section 7.5. Insurance ..............................................................................................59   Section 7.6. Financial Reports and Other Information ............................................59   Section 7.7. Lender Inspection Rights .....................................................................61   Section 7.8. Conduct of Business ............................................................................61   Section 7.9. Liens .....................................................................................................61   Section 7.10. Use of Proceeds; Regulation U ............................................................62   Section 7.11. [Reserved] ............................................................................................63   Section 7.12. Mergers, Consolidations and Sales of Assets ......................................63   Section 7.13. Use of Property and Facilities; Environmental and Health and Safety   Laws .....................................................................................................63   Section 7.14. Acquisitions .........................................................................................64   Section 7.15. Net Cash Flow Leverage Ratio ............................................................64   Section 7.16. Cash Interest Coverage Ratio...............................................................64   Section 7.17. Dividends and Other Shareholder Distributions ..................................64   Section 7.18. Indebtedness .........................................................................................64   Section 7.19. Transactions with Affiliates .................................................................65   Section 7.20. Compliance with Laws ........................................................................65   Section 7.21. Additional Guarantors ..........................................................................65   Section 7.22. Compliance with Sanction Programs ...................................................66     

 

-iii-   SECTION 8. EVENTS OF DEFAULT AND REMEDIES .........................................................67   Section 8.1. Events of Default .................................................................................67   Section 8.2. Non-Bankruptcy Defaults ....................................................................68   Section 8.3. Bankruptcy Defaults ............................................................................69   Section 8.4. Collateral for Undrawn Letters of Credit .............................................69   Section 8.5. Application of Payments ......................................................................70   Section 8.6. Notice of Default..................................................................................71   Section 8.7. Expenses ..............................................................................................71   SECTION 9. CHANGE IN CIRCUMSTANCES ......................................................................71   Section 9.1. Change of Law .....................................................................................71   Section 9.2. Unavailability of Deposits or Inability to Ascertain, or Inadequacy of,   LIBOR..................................................................................................72   Section 9.3. Increased Cost and Reduced Return ....................................................72   Section 9.4. Lending Offices ...................................................................................74   Section 9.5. Discretion of Lender as to Manner of Funding ....................................74   SECTION 10. THE ADMINISTRATIVE AGENT ....................................................................74   Section 10.1. Appointment and Authorization of Administrative Agent ..................74   Section 10.2. Administrative Agent and its Affiliates ...............................................75   Section 10.3. Action by Administrative Agent ..........................................................75   Section 10.4. Consultation with Experts ....................................................................75   Section 10.5. Liability of Administrative Agent; Credit Decision ............................76   Section 10.6. Indemnity .............................................................................................76   Section 10.7. Resignation of Administrative Agent and Successor Agent ................77   Section 10.8. L/C Issuers and Swingline Lender. ......................................................78   Section 10.9. Authorization to Release Guaranties ...................................................79   Section 10.10. Authorization of Administrative Agent to File Proofs of Claim .........79   Section 10.11. Designation of Additional Agents .......................................................79   SECTION 11. THE GUARANTEES ......................................................................................80   Section 11.1. The Guarantees ....................................................................................80   Section 11.2. Guarantee Unconditional .....................................................................80   Section 11.3. Discharge Only Upon Payment in Full; Reinstatement in Certain   Circumstances ......................................................................................81   Section 11.4. Waivers ................................................................................................81   Section 11.5. Limit on Recovery ...............................................................................82   Section 11.6. Stay of Acceleration .............................................................................82   Section 11.7. Benefit to Guarantors ...........................................................................82   Section 11.8. Guarantor Covenants ...........................................................................82   Section 11.9 Release of Guarantors ..........................................................................82   Section 11.10 German Guarantor Limitations ............................................................83   SECTION 12. MISCELLANEOUS ........................................................................................86     

 

-iv-   Section 12.1. Taxes ....................................................................................................86   Section 12.2. No Waiver of Rights ............................................................................88   Section 12.3. Non-Business Day ...............................................................................89   Section 12.4. Documentary Taxes .............................................................................89   Section 12.5. Survival of Representations .................................................................89   Section 12.6. Survival of Indemnities ........................................................................89   Section 12.7. Sharing of Set-Off ................................................................................89   Section 12.8. Notices .................................................................................................90   Section 12.9. Counterparts; Integration; Effectiveness ..............................................92   Section 12.10. Successors and Assigns........................................................................92   Section 12.11. Participants ...........................................................................................92   Section 12.12. Assignments .........................................................................................93   Section 12.13. Amendments ........................................................................................97   Section 12.14. Headings ..............................................................................................98   Section 12.15. Legal Fees, Other Costs and Indemnification ......................................98   Section 12.16. Set Off ..................................................................................................99   Section 12.17. Currency .............................................................................................100   Section 12.18. Entire Agreement ...............................................................................100   Section 12.19. Governing Law ..................................................................................100   Section 12.20. Submission to Jurisdiction; Waiver of Jury Trial ..............................100   Section 12.21. Limitation of Liability........................................................................101   Section 12.22. Confidentiality ...................................................................................101   Section 12.23. Severability of Provisions ..................................................................101   Section 12.24. Excess Interest ...................................................................................102   Section 12.25. Construction .......................................................................................102   Section 12.26. Lender’s and L/C Issuer’s Obligations Several .................................102   Section 12.27. No Advisory or Fiduciary Responsibility ..........................................102   Section 12.28. USA Patriot Act .................................................................................103   Section 12.29. Acknowledgement and Consent to Bail-In of EEA Financial   Institutions..........................................................................................103   Section 12.30. Amendment and Restatement ............................................................104   Signature ........................................................................................ Error! Bookmark not defined.   EXHIBITS    A - Notice of Borrowing    B - Notice of Continuation/Conversion    C-1 - Form of Revolving Note    C-2 - Form of Swingline Note    C-3 - Form of Term Note    D - Form of Compliance Certificate    E - Form of Subsidiary Guarantee Agreement    F - Increase Request    G - Assignment and Acceptance   SCHEDULE 1  Revolving Credit Commitments   SCHEDULE 1.3  Existing Letters of Credit     

 

-v-   SCHEDULE 5.2  Guarantors     

 

       SECOND AMENDED AND RESTATED   MULTICURRENCY CREDIT AGREEMENT   This Second Amended and Restated Multicurrency Credit Agreement, dated as of   June 21, 2016, is among Jones Lang LaSalle Finance B.V., a private company with limited   liability (a besloten vennootschap met beperkte aansprakelijkheid) organized under the laws of   The Netherlands (the “Borrower”), the Guarantors (as hereinafter defined) party hereto, the   lenders from time to time party hereto, and Bank of Montreal, as Administrative Agent.   PRELIMINARY STATEMENT   The Borrower, the guarantors party thereto, the lenders party thereto and Bank of   Montreal, as Administrative Agent, are parties to a Multicurrency Credit Agreement dated as of   October 4, 2013, (as amended and restated as of February 25, 2015, the “Existing Credit   Agreement”);   The parties hereto desire to amend and restate in its entirety the Existing Credit   Agreement, without constituting a novation, all on the terms and subject to the terms and   conditions herein.   NOW, THEREFORE, in consideration of the mutual agreements contained herein, and the   other good and valuable consideration, the receipt and sufficiency of which are hereby   acknowledged, the parties hereto hereby agree as follows:   SECTION 1. THE CREDIT FACILITIES.    Section 1.1. Revolving Credit Commitments.  Subject to the terms and conditions hereof,   each Lender severally agrees to make a loan or loans (individually a “Revolving Loan” and   collectively “Revolving Loans”) to the Borrower from time to time on a revolving basis in U.S.   Dollars and Alternative Currencies in an aggregate outstanding Original Dollar Amount up to the   amount of its Revolving Credit Commitment subject to any increases or reductions thereof   pursuant to the terms hereof, before the Termination Date.  The sum of the (i) aggregate Original   Dollar Amount of Revolving Loans, (ii) the aggregate Original Dollar Amount of Swingline   Loans, and (iii) the aggregate U.S. Dollar Equivalent of all L/C Obligations at any time   outstanding shall not exceed the Revolving Credit Commitments in effect at such time.  The sum   of the aggregate Original Dollar Amount of all Revolving Loans denominated in an Alternative   Currency other than Euros or Pounds Sterling at any time outstanding shall not exceed   $300,000,000.  Each Borrowing of Revolving Loans shall be made ratably from the Lenders in   proportion to their respective Revolver Percentages.  As provided in Section 1.6(a) hereof, the   Borrower may elect that each Borrowing of Revolving Loans denominated in U.S. Dollars be   either Domestic Rate Loans or Eurocurrency Loans.  All Revolving Loans denominated in an   Alternative Currency shall be Eurocurrency Loans.  Revolving Loans may be repaid and the   principal amount thereof reborrowed before the Termination Date, subject to all the terms and   conditions hereof.     

 

   -2-    Section 1.2. The Swingline.  (a) Swingline Loans.  Subject to all of the terms and   conditions hereof, as part of the Revolving Credit, the Swingline Lender may, in its discretion,   make loans in U.S. Dollars to the Borrower under the Swingline (individually a “Swingline   Loan” and collectively, the “Swingline Loans”), which shall not in the aggregate at any time   outstanding exceed the lesser of (i) the Swingline Sublimit or (ii) the difference between (x) the   Revolving Credit Commitments in effect at such time and (y) the sum of the Original Dollar   Amount of all Revolving Loans and the U.S. Dollar Equivalent of all L/C Obligations   outstanding at the time of computation.  The Swingline Sublimit may be availed of by the   Borrower from time to time and borrowings thereunder may be repaid and used again during the   period ending on the day immediately preceding the Termination Date.      (b) Minimum Borrowing Amount.  Each Swingline Loan shall be in an amount not less   than $100,000.    (c) Interest on Swingline Loans.  Each Swingline Loan shall bear interest (computed on   the basis of a year of 360 days and actual days elapsed) for the Interest Period selected therefor at   the Domestic Rate plus the Applicable Margin for Domestic Rate Loans or at the rate quoted by   the Swingline Lender to the Borrower which is the interest rate determined in the Swingline   Lender’s discretion at which the Swingline Lender would be willing to make such Swingline   Loan available to the Borrower for such Interest Period (the rate so quoted for a given Interest   Period being herein referred to as the “Quoted Rate”), provided that if any Swingline Loan is not   paid when due (whether by lapse of time, acceleration or otherwise) such Swingline Loan shall   bear interest whether before or after judgment, until payment in full thereof through the end of   the Interest Period then applicable thereto at the rate set forth in Section 1.10 hereof.  Interest on   each Swingline Loan shall be due and payable on the last day of each Interest Period applicable   thereto, and interest after maturity (whether by lapse of time, acceleration or otherwise) shall be   due and payable upon demand.      (d) Requests for Swingline Loans.  The Borrower shall give the Administrative Agent   prior notice (which may be written or oral) no later than 12:00 noon (Chicago time) on the date   upon which the Borrower requests that any Swingline Loan be made, specifying in each case the   amount and date of such Swingline Loan and the Interest Period selected therefor.  The   Administrative Agent shall promptly advise the Swingline Lender of any such notice received   from the Borrower.  Within thirty (30) minutes after receiving such notice, the Swingline Lender   in its discretion may quote the Quoted Rate for such Interest Period.  The Borrower   acknowledges and agrees that the interest rate quote is given for immediate and irrevocable   acceptance, and if the Borrower does not so immediately accept the Quoted Rate for the full   amount requested by the Borrower for such Swingline Loan, the Quoted Rate shall be deemed   immediately withdrawn and such Swingline Loan shall be made at the rate per annum equal to   the Domestic Rate from time to time in effect plus the Applicable Margin for Domestic Rate   Loans under the Revolving Credit.  Subject to all of the terms and conditions hereof, the   proceeds of such Swingline Loan shall be made available to the Borrower on the date so   requested at the Borrower’s Designated Disbursement Account or as the Borrower, the   Administrative Agent and the Swingline Lender may otherwise agree.  Anything contained in the   foregoing to the contrary notwithstanding, the undertaking of the Swingline Lender to make     

 

   -3-   Swingline Loans shall be subject to all of the terms and conditions of this Agreement (provided   that the Swingline Lender shall be entitled to assume that the conditions precedent to an advance   of any Swingline Loan have been satisfied unless notified to the contrary by the Administrative   Agent or the Required Lenders).      (e) Refunding Loans.  In its sole and absolute discretion, the Swingline Lender may at   any time, on behalf of the Borrower (which hereby irrevocably authorizes the Swingline Lender   to act on its behalf for such purpose) and with notice to the Borrower and the Administrative   Agent, request each Lender to make a Revolving Loan in an amount equal to such Lender’s   Revolver Percentage of the amount of the Swingline Loans outstanding on the date such notice is   given.  Borrowings of Revolving Loans under this Section 1.2(e) hereof shall initially constitute   Domestic Rate Loans unless timely notice is given pursuant to Section 1.6 hereof.  Unless an   Event of Default described in Section 8.1(f) or 8.1(g) exists with respect to the Borrower,   regardless of the existence of any other Event of Default, each such Lender shall make the   proceeds of its requested Revolving Loan available to the Administrative Agent for the account   of the Swingline Lender, in immediately available funds, at the principal office of the   Administrative Agent in Chicago, Illinois, before 12:00 noon (Chicago time) on the Business   Day following the day such notice is given.  The proceeds of such Revolving Loans shall be   immediately applied to repay the outstanding Swingline Loans.  The Administrative Agent shall   promptly remit the proceeds of such Borrowing to the Swingline Lender to repay the outstanding   Swingline Loans.    (f) Participations.  If any Lender refuses or otherwise fails to make a Revolving Loan   when requested by the Swingline Lender pursuant to Section 1.2(e) above (because an Event of   Default described in Section 8.1(f) or 8.1(g) hereof exists with respect to the Borrower or   otherwise), such Lender will, by the time and in the manner such Revolving Loan was to have   been funded to the Swingline Lender, purchase from the Swingline Lender an undivided   participating interest in the outstanding Swingline Loans in an amount equal to its Revolver   Percentage of the aggregate principal amount of Swingline Loans that were to have been repaid   with such Revolving Loans.  From and after the date of any such purchase, such Swingline   Loans shall bear interest as Domestic Rate Loans.  Each Lender that so purchases a participation   in a Swingline Loan shall thereafter be entitled to receive its Revolver Percentage of each   payment of principal received on the Swingline Loan and of interest received thereon accruing   from the date such Lender funded to the Administrative Agent its participation in such Swingline   Loan.  The several obligations of the Lenders under this Section 1.2 shall be absolute,   irrevocable, and unconditional under any and all circumstances whatsoever and shall not be   subject to any set-off, counterclaim or defense to payment which any Lender may have or have   had against the Borrower, any other Lender, or any other Person whatsoever.  Without limiting   the generality of the foregoing, such obligations shall not be affected by any Default or Event of   Default or by any reduction or termination of the Revolving Credit Commitment of any Lender,   and each payment made by a Lender under this Section 1.2 shall be made without any offset,   abatement, withholding, or reduction whatsoever.    (g) Voluntary Prepayment of Swingline Loans.  The Borrower may not voluntarily   prepay any Swingline Loan bearing interest at the Quoted Rate before the last day of its Interest   Period.  The Borrower may voluntarily prepay any Swingline Loan bearing interest computed by     

 

   -4-   reference to the Domestic Rate before the last day of its Interest Period at any time upon notice   delivered to the Administrative Agent by the Borrower no later than 12:00 noon (Chicago time)   on the date of prepayment, such prepayment to be made by the payment of the principal amount   to be prepaid and accrued interest thereon to the date fixed for prepayment.    Section 1.3. Letters of Credit.  (a) General Terms.  (i) Subject to the terms and   conditions hereof, as part of the Revolving Credit, each L/C Issuer shall issue standby letters of   credit (each a “Letter of Credit”) for the account of the Borrower or for the account of the   Borrower and the Parent or one or more of its Subsidiaries in any Alternative Currency, U.S.   Dollars, or any other currency acceptable to such L/C Issuer, the U.S. Dollar Equivalent of the   aggregate undrawn face amount of which does not exceed such L/C Issuer’s Letter of Credit   Commitment and the aggregate for all L/C Issuers does not exceed the L/C Sublimit, provided   that the U.S. Dollar Equivalent of the aggregate L/C Obligations at any time outstanding shall   not exceed the difference between the Revolving Credit Commitments in effect at such time and   the aggregate Original Dollar Amount of all Revolving Loans and Swingline Loans then   outstanding.  Notwithstanding anything herein to the contrary, those certain letters of credit   issued for the account of the Borrower or the Parent by Bank of Montreal and BMO Harris Bank,   N.A. under the Existing Credit Agreement and listed on Schedule 1.3 hereof (the “Existing   Letters of Credit”) shall each constitute a “Letter of Credit” herein for all purposes of this   Agreement with the Borrower as the applicant therefor, to the same extent, and with the same   force and effect as if the Existing Letters of Credit had been issued under this Agreement at the   request of the Borrower.  Each Letter of Credit shall be issued by an L/C Issuer, but each Lender   shall be obligated to reimburse such L/C Issuer for its Revolver Percentage of the amount of each   drawing thereunder and, accordingly, the undrawn face amount of each Letter of Credit shall   constitute usage of the Revolving Credit Commitment of each Lender pro rata in accordance   with each Lender’s Revolver Percentage.    (ii) No L/C Issuer shall be under any obligation to issue any Letter of Credit if:     (A)  any order, judgment or decree of any Governmental Authority or   arbitrator shall by its terms purport to enjoin or restrain such L/C Issuer from issuing the   Letter of Credit, or any Law applicable to such L/C Issuer or any request or directive   (whether or not having the force of law) from any Governmental Authority with   jurisdiction over such L/C Issuer shall prohibit, or request that such L/C Issuer refrain   from, the issuance of letters of credit generally or the Letter of Credit in particular or   shall impose upon such L/C Issuer with respect to the Letter of Credit any restriction,   reserve or capital requirement (for which such L/C Issuer is not otherwise compensated   hereunder) not in effect on the Closing Date, or shall impose upon such L/C Issuer any   unreimbursed loss, cost or expense which was not applicable on the Closing Date and   which such L/C Issuer in good faith deems material to it; or    (B)  the issuance of the Letter of Credit would violate one or more policies of   the L/C Issuer applicable to letters of credit generally; or    (C) such Letter of Credit contains any provisions for automatic reinstatement   of the stated amount after any drawing thereunder.     

 

   -5-    (b) Applications.  At any time before the Termination Date, each L/C Issuer shall, at the   request of the Borrower, issue one or more Letters of Credit, in a form satisfactory to the   applicable L/C Issuer, with expiration dates no later than the earlier of twelve (12) months from   the date of issuance (or which are cancelable not later than twelve (12) months from the date of   issuance and each renewal) or thirty (30) days prior to the Termination Date, in an aggregate face   amount as set forth above, upon the receipt of an application duly executed by the Borrower and,   if such Letter of Credit is for the account of the Parent or one of its Subsidiaries, the Parent or   such Subsidiary for the relevant Letter of Credit in the form customarily prescribed by such   L/C Issuer for a standby letter of credit (each an “Application”).  Notwithstanding anything   contained in any Application to the contrary (i) the Borrower’s obligation to pay fees in   connection with each Letter of Credit shall be as exclusively set forth in Section 2.1(b) hereof,   (ii) except as otherwise provided in Section 1.9 or 1.16 hereof or during the continuance of an   Event of Default, no L/C Issuer will call for the funding by the Borrower of any amount under a   Letter of Credit, or any other form of collateral security for the Borrower’s obligations in   connection with such Letter of Credit, before being presented with a drawing thereunder, and   (iii) if an L/C Issuer is not timely reimbursed for the amount of any drawing under a Letter of   Credit on the date such drawing is paid, the Borrower’s obligation to reimburse such L/C Issuer   for the amount of such drawing shall bear interest (which the Borrower hereby promises to pay)   from and after the date such drawing is paid at a rate per annum (A) if such Reimbursement   Obligation is denominated in U.S. Dollars, equal to the sum of 2% plus the Domestic Rate from   time to time in effect plus the Applicable Margin for Domestic Rate Loans and (B) if such   Reimbursement Obligation is denominated in any Alternative Currency, equal to the rate   established pursuant to Section 1.10(b) hereof for Eurocurrency Loans denominated in an   Alternative Currency.  Each L/C Issuer agrees to issue amendments to the Letter(s) of Credit   issued by it increasing the amount, or extending the expiration date, thereof at the request of the   Borrower subject to the conditions of Section 6.2 hereof and the other terms of this Section 1.3.    Notwithstanding anything contained herein to the contrary, no L/C Issuer shall be under any   obligation to issue, extend or amend any Letter of Credit if a default of any Lender’s obligations   to fund under Section 1.3(c) hereof exists or any Lender is at such time a Defaulting Lender   hereunder, unless such L/C Issuer has entered into arrangements with the Borrower or such   Lender satisfactory to such L/C Issuer to eliminate such L/C Issuer’s risk with respect to such   Lender.  In the event of any conflict between the terms of this Agreement and the terms of any   L/C Document (other than this Agreement), the terms of this Agreement shall control.   If the Borrower so requests in any applicable Application, an L/C Issuer may, in its sole   discretion, agree to issue a Letter of Credit that has automatic extension provisions (each, an   “Auto-Extension Letter of Credit”); provided that any such Auto-Extension Letter of Credit must   permit the L/C Issuer to prevent any such extension at least once in each twelve-month period   (commencing with the date of issuance of such Letter of Credit) by giving prior notice to the   beneficiary thereof not later than a day (the “Non-Extension Notice Date”) in each such twelve-   month period to be agreed upon at the time such Letter of Credit is issued.  Unless otherwise   directed by the L/C Issuer, the Borrower shall not be required to make a specific request to such   L/C Issuer for any such extension.  Once an Auto-Extension Letter of Credit has been issued, the   Lenders shall be deemed to have authorized (but may not require) the L/C Issuer to permit the   extension of such Letter of Credit at any time to an expiry date not later than thirty (30) days   prior to the Termination Date; provided, however, that such L/C Issuer shall not permit any such     

 

   -6-   extension if (A) such L/C Issuer has determined that it would not be permitted, or would have no   obligation, at such time to issue such Letter of Credit in its revised form (as extended) under the   terms hereof, or (B) it has received notice (which may be by telephone or in writing) on or before   the day that is seven (7) Business Days before the Non-Extension Notice Date (1) from the   Administrative Agent that the Required Lenders have elected not to permit such extension or (2)   from the Administrative Agent, any Lender or the Borrower that one or more of the applicable   conditions specified in Section 6.2 is not then satisfied, and in each such case directing the L/C   Issuer not to permit such extension.    (c) The Reimbursement Obligations.  Subject to Section 1.3(b) hereof, the obligation of   the Borrower to reimburse an L/C Issuer for all drawings under a Letter of Credit (a   “Reimbursement Obligation”) shall be governed by the Application related to such Letter of   Credit, except that reimbursement of each drawing shall be made in immediately available funds   (i) if such Reimbursement Obligation is denominated in U.S. Dollars, at the Administrative   Agent’s principal office in Chicago, Illinois and (ii) if such Reimbursement Obligation is   denominated in an Alternative Currency, to such local office as the Administrative Agent has   previously specified, in each case by no later than 2:00 p.m. (local time) on the date when each   drawing is paid or, if such drawing was paid after 10:00 a.m. (local time), by 2:00 p.m. (local   time) on the next Business Day.  Anything herein to the contrary notwithstanding, any   Reimbursement Obligation denominated in a currency other than U.S. Dollars shall be converted   to U.S. Dollars at the exchange rate quoted to the applicable L/C Issuer on the date such   Reimbursement Obligation was incurred by major banks in the interbank foreign exchange   market for the purchase of U.S. Dollars for such other currency and such Reimbursement   Obligation shall be denominated in U.S. Dollars.  If the Borrower does not make any such   reimbursement payment on the date due and the Participating Lenders fund their participations   therein in the manner set forth in Section 1.3(d) below, then all payments thereafter received by   the Administrative Agent in discharge of any of the relevant Reimbursement Obligations shall be   distributed in accordance with Section 1.3(d) below.    (d) The Participating Interests.  Each Lender (other than the Lender then acting as   L/C Issuer in issuing the relevant Letter of Credit) severally agrees to purchase from the   applicable L/C Issuer, and each L/C Issuer hereby agrees to sell to each such Lender (a   “Participating Lender”), an undivided percentage participating interest (a “Participating   Interest”), to the extent of its Revolver Percentage, in each Letter of Credit issued by, and each   Reimbursement Obligation owed to, such L/C Issuer.  Upon any failure by the Borrower to pay   any Reimbursement Obligation at the time required on the date due, as set forth in Section 1.3(c)   above, or if an L/C Issuer is required at any time to return to the Borrower or to a trustee,   receiver, liquidator, custodian or other Person any portion of any payment of any Reimbursement   Obligation, each Participating Lender shall, not later than the Business Day it receives a request   from the applicable L/C Issuer to such effect, if such request is received before 1:00 p.m.   (Chicago time), or not later than the following Business Day, if such request is received after   such time, pay to the Administrative Agent for the account of the applicable L/C Issuer an   amount equal to its Revolver Percentage of such unpaid or recaptured Reimbursement Obligation   together with interest on such amount accrued from the date the related payment was made by   such L/C Issuer to the date of such payment by such Participating Lender at a rate per annum   equal to (i) from the date the related payment was made by such L/C Issuer to the date two     

 

   -7-   (2) Business Days after payment by such Participating Lender is due hereunder, the Federal   Funds Rate for each day and (ii) from the date two (2) Business Days after the date such payment   is due from such Participating Lender to the date such payment is made by such Participating   Lender, the Domestic Rate in effect for each such day.  Each such Participating Lender shall   thereafter be entitled to receive its Revolver Percentage of each payment received in respect of   the relevant Reimbursement Obligation and of interest paid thereon, with the applicable   L/C Issuer retaining its Revolver Percentage as a Lender hereunder.     The several obligations of the Participating Lenders to each L/C Issuer under this   Section 1.3 shall be absolute, irrevocable and unconditional under any and all circumstances   whatsoever (except, without limiting the Borrower’s obligations under each Application, to the   extent the Borrower is relieved from its obligation to reimburse an L/C Issuer for a drawing   under a Letter of Credit because of such L/C Issuer’s gross negligence or willful misconduct, as   determined by a final nonappealable court of competent jurisdiction in determining that   documents received under the Letter of Credit comply with the terms thereof) and shall not be   subject to any set-off, counterclaim or defense to payment which any Participating Lender may   have or have had against the Borrower, such L/C Issuer, any other Lender or any other Person   whatsoever.  Without limiting the generality of the foregoing, such obligations shall not be   affected by any Default or Event of Default or by any reduction or termination of any Revolving   Credit Commitment of any Lender, and each payment by a Participating Lender under this   Section 1.3 shall be made without any offset, abatement, withholding or reduction whatsoever.    The Administrative Agent shall be entitled to offset amounts received for the account of a   Lender under this Agreement against unpaid amounts due from such Lender to an L/C Issuer   hereunder (whether as fundings of participations, indemnities or otherwise), but shall not be   entitled to offset against amounts owed to an L/C Issuer by any Lender arising outside this   Agreement.    (e) Obligations Absolute.  The Borrower’s obligation to reimburse L/C Obligations as   provided in subsection (c) of this Section 1.3 shall be absolute, unconditional and irrevocable,   and shall be performed strictly in accordance with the terms of this Agreement and the relevant   Application under any and all circumstances whatsoever and irrespective of (i) any lack of   validity or enforceability of any Letter of Credit or this Agreement, or any term or provision   therein, (ii) any draft or other document presented under a Letter of Credit proving to be forged,   fraudulent or invalid in any respect or any statement therein being untrue or inaccurate in any   respect, (iii) payment by an L/C Issuer under a Letter of Credit against presentation of a draft or   other document that does not strictly comply with the terms of such Letter of Credit, or (iv) any   other event or circumstance whatsoever, whether or not similar to any of the foregoing, that   might, but for the provisions of this Section 1.3(e), constitute a legal or equitable discharge of, or   provide a right of setoff against, the Borrower’s obligations hereunder. None of the   Administrative Agent, the Lenders, or any L/C Issuer shall have any liability or responsibility by   reason of or in connection with the issuance or transfer of any Letter of Credit or any payment or   failure to make any payment thereunder (irrespective of any of the circumstances referred to in   the preceding sentence), or any error, omission, interruption, loss or delay in transmission or   delivery of any draft, notice or other communication under or relating to any Letter of Credit   (including any document required to make a drawing thereunder), any error in interpretation of   technical terms or any consequence arising from causes beyond the control of such L/C Issuer;     

 

   -8-   provided that the foregoing shall not be construed to excuse an L/C Issuer from liability to the   Borrower to the extent of any direct damages (as opposed to consequential damages, claims in   respect of which are hereby waived by the Borrower to the extent permitted by applicable law)   suffered by the Borrower that are caused by such L/C Issuer’s failure to exercise care when   determining whether drafts and other documents presented under a Letter of Credit comply with   the terms thereof.  The parties hereto expressly agree that, in the absence of gross negligence or   willful misconduct on the part of an L/C Issuer (as determined by a court of competent   jurisdiction by a final and nonappealable judgment), such L/C Issuer shall be deemed to have   exercised care in each such determination.  In furtherance of the foregoing and without limiting   the generality thereof, the parties agree that, with respect to documents presented which appear   on their face to be in substantial compliance with the terms of a Letter of Credit, the applicable   L/C Issuer may, in its sole discretion, either accept and make payment upon such documents   without responsibility for further investigation, regardless of any notice or information to the   contrary, or refuse to accept and make payment upon such documents if such documents are not   in strict compliance with the terms of such Letter of Credit.    (f) Manner of Requesting a Letter of Credit.  The Borrower shall provide at least five   (5) Business Days’ advance written notice to the Administrative Agent and the applicable   L/C Issuer (or such shorter period of time agreed to by the applicable L/C Issuer) of each request   for the issuance of a Letter of Credit, such notice in each case to be accompanied by an   Application for such Letter of Credit properly completed and executed by the Borrower and, in   the case of an extension or amendment or an increase in the amount of a Letter of Credit, a   written request therefor, in a form acceptable to the Administrative Agent and the applicable   L/C Issuer, in each case, together with the fees called for by this Agreement.  The applicable   L/C Issuer shall be entitled to assume that the conditions precedent to any such issuance,   extension, amendment or increase have been satisfied unless notified to the contrary by the   Administrative Agent or the Required Lenders, and such L/C Issuer shall promptly notify the   Administrative Agent and the Lenders of the issuance of the Letter of Credit so requested.      (g) Replacement of an L/C Issuer.  Any L/C Issuer may be replaced at any time by   written agreement among the Parent, the Borrower, the Administrative Agent, the replaced   L/C Issuer and the successor L/C Issuer.  The Administrative Agent shall notify the Lenders of   any such replacement of an L/C Issuer.  At the time any such replacement shall become   effective, the Borrower shall pay all unpaid fees accrued for the account of the replaced   L/C Issuer.  From and after the effective date of any such replacement (i) the successor   L/C Issuer shall have all the rights and obligations of an L/C Issuer under this Agreement with   respect to Letters of Credit to be issued thereafter and (ii) references herein to the term   “L/C Issuer” shall be deemed to refer to such successor or to any previous L/C Issuer, or to such   successor and all previous L/C Issuers, as the context shall require.  After the replacement of a   L/C Issuer hereunder, the replaced L/C Issuer shall remain a party hereto and shall continue to   have all the rights and obligations of a L/C Issuer under this Agreement with respect to Letters of   Credit issued by it prior to such replacement, but shall not be required to issue additional Letters   of Credit.    (h) Applicability of ISP and UCP. Unless otherwise expressly agreed by the applicable   L/C Issuer and the Borrower when a Letter of Credit is issued (i) the rules of the ISP shall apply     

 

   -9-   to each standby Letter of Credit, and (ii) the rules of the Uniform Customs and Practice for   Documentary Credits, as most recently published by the International Chamber of Commerce at   the time of issuance shall apply to each commercial Letter of Credit.    Section 1.4. Applicable Interest Rates.  (a) Domestic Rate Loans.  Each Domestic Rate   Loan made or maintained by a Lender shall bear interest during each Interest Period it is   outstanding (computed on the basis of a year of 365 or 366 days, as applicable, and actual days   elapsed) on the unpaid principal amount thereof from the date such Loan is advanced, continued   or created by conversion from a Eurocurrency Loan until maturity (whether by acceleration or   otherwise) at a rate per annum equal to the sum of the Applicable Margin plus the Domestic Rate   from time to time in effect, payable on the last day of its Interest Period and at maturity (whether   by acceleration or otherwise).    (b) Eurocurrency Loans.  Each Eurocurrency Loan made or maintained by a Lender   shall bear interest during each Interest Period it is outstanding (computed on the basis of a year   of 360 days and actual days elapsed except for Eurocurrency Loans denominated in Pounds   Sterling which shall be computed on the basis of a year of 365 days and actual days elapsed) on   the unpaid principal amount thereof from the date such Loan is advanced, continued, or created   by conversion from a Domestic Rate Loan until maturity (whether by acceleration or otherwise)   at a rate per annum equal to the sum of the Applicable Margin plus the Adjusted LIBOR   applicable for such Interest Period, payable on the last day of the Interest Period and at maturity   (whether by acceleration or otherwise), and, if the applicable Interest Period is longer than three   months, on each day occurring every three months after the commencement of such Interest   Period.    (c) Rate Determinations.  The Administrative Agent shall determine each interest rate   applicable to the Loans, and a reasonable determination thereof by the Administrative Agent   shall be conclusive and binding except in the case of manifest error or willful misconduct.  The   Original Dollar Amount of each Eurocurrency Loan denominated in an Alternative Currency   shall be determined or redetermined, as applicable, effective as of the first day of each Interest   Period applicable to such Loan.    Section 1.5. Minimum Borrowing Amounts.  Each Borrowing of Domestic Rate Loans   advanced under a Facility (other than Swingline Loans, which are subject to Section 1.2 hereof)   shall be in an amount not less than $1,000,000 and in integral multiples of $100,000.  Each   Borrowing of Eurocurrency Loans advanced under a Facility shall be in an amount not less than   an Original Dollar Amount of $3,000,000 and in integral multiples of 100,000 units of the   relevant currency as would have the Original Dollar Amount most closely approximating   $100,000 or an integral multiple thereof.    Section 1.6. Manner of Borrowing Loans and Designating Interest Rates Applicable to   Loans.  (a)  Notice to the Administrative Agent.  The Borrower shall give notice to the   Administrative Agent by no later than (i) 12:00 noon (Chicago time) at least four (4) Business   Days before the date on which the Borrower requests the Lenders to advance a Borrowing of   Eurocurrency Loans denominated in an Alternative Currency, (ii) 12:00 noon (Chicago time) at   least three (3) Business Days before the date on which the Borrower requests the Lenders to     

 

   -10-   advance a Borrowing of Eurocurrency Loans denominated in U.S. Dollars and (iii) 12:00 noon   (Chicago time) on the date on which the Borrower requests the Lenders to advance a Borrowing   of Domestic Rate Loans.  The Loans included in each Borrowing shall bear interest initially at   the type of rate specified in such notice of a new Borrowing.  Thereafter, subject to the terms and   conditions hereof, the Borrower may from time to time elect to change or continue the type of   interest rate borne by each Borrowing or, subject to the minimum amount requirement for each   outstanding Borrowing contained in Section 1.5 hereof, a portion thereof, as follows:  (i) if such   Borrowing is of Eurocurrency Loans, on the last day of the Interest Period applicable thereto, the   Borrower may continue part or all of such Borrowing as Eurocurrency Loans for an Interest   Period or Interest Periods specified by the Borrower or, if such Eurocurrency Loan is   denominated in U.S. Dollars, convert part or all of such Borrowing into Domestic Rate Loans,   (ii) if such Borrowing is of Domestic Rate Loans, on any Business Day, the Borrower may   convert all or part of such Borrowing into Eurocurrency Loans denominated in U.S. Dollars for   an Interest Period or Interest Periods specified by the Borrower.  The Borrower shall give all   such notices requesting the advance, continuation, or conversion of a Borrowing to the   Administrative Agent by telephone, telecopy or other telecommunication device acceptable to   the Administrative Agent (which notice shall be irrevocable once given and, if by telephone,   shall be promptly confirmed in writing in a manner acceptable to the Administrative Agent),   substantially in the form attached hereto as Exhibit A (Notice of Borrowing) or Exhibit B   (Notice of Continuation/Conversion), as applicable, or in such other form acceptable to the   Administrative Agent.  Notices of the continuation of a Borrowing of Eurocurrency Loans   denominated in U.S. Dollars for an additional Interest Period or of the conversion of part or all of   a Borrowing of Eurocurrency Loans denominated in U.S. Dollars into Domestic Rate Loans or of   Domestic Rate Loans into Eurocurrency Loans must be given by no later than 12:00 noon   (Chicago time) at least three (3) Business Days before the date of the requested continuation or   conversion.  Notices of the continuation of a Borrowing of Eurocurrency Loans denominated in   an Alternative Currency must be given no later than 12:00 noon (Chicago time) at least four (4)   Business Days before the requested continuation.  All such notices concerning the advance,   continuation, or conversion of a Borrowing shall specify the date of the requested advance,   continuation or conversion of a Borrowing (which shall be a Business Day), the amount of the   requested Borrowing to be advanced, continued, or converted, the type of Loans to comprise   such new, continued or converted Borrowing and, if such Borrowing is to be comprised of   Eurocurrency Loans, the currency and Interest Period applicable thereto.  Upon notice to the   Borrower by the Administrative Agent, acting at the request or with the consent of the Required   Lenders (or, in the case of an Event of Default under Section 8.1(f) or 8.1(g) hereof with respect   to the Borrower or Parent, without notice), no Borrowing of Eurocurrency Loans shall be   advanced, continued, or created by conversion if any Default or Event of Default then exists.    The Borrower agrees that the Administrative Agent may rely on any such telephonic, telecopy or   other telecommunication notice given by any person the Administrative Agent in good faith   believes is an Authorized Representative without the necessity of independent investigation, and   in the event any such notice by telephone conflicts with any written confirmation, such   telephonic notice shall govern if the Administrative Agent has acted in reliance thereon.    (b) Notice to the Lenders.  The Administrative Agent shall give prompt telecopy or   other telecommunication notice to each Lender of any notice from the Borrower received   pursuant to Section 1.6(a) above.  The Administrative Agent shall give notice to the Borrower     

 

   -11-   and each Lender by like means of the interest rate applicable to each Borrowing of Eurocurrency   Loans and, if such Borrowing is denominated in an Alternative Currency, shall give notice by   such means to the Borrower and each Lender of the Original Dollar Amount thereof.    (c) Borrower’s Failure to Notify.  Any outstanding Borrowing of Domestic Rate Loans   shall, subject to Section 6.2 hereof, automatically be continued for an additional Interest Period   on the last day of its then current Interest Period unless the Borrower has notified the   Administrative Agent within the period required by Section 1.6(a) hereof that it intends to   convert such Borrowing into a Borrowing of Eurocurrency Loans or notifies the Administrative   Agent within the period required by Section 1.9(a) hereof that it intends to prepay such   Borrowing.  If the Borrower fails to give notice pursuant to Section 1.6(a) hereof of the   continuation or conversion of any outstanding principal amount of a Borrowing of Eurocurrency   Loans denominated in U.S. Dollars before the last day of its then current Interest Period within   the period required by Section 1.6(a) hereof and has not notified the Administrative Agent within   the period required by Section 1.9(a) hereof that it intends to prepay such Borrowing, such   Borrowing shall automatically be converted into a Borrowing of Domestic Rate Loans, subject to   Section 6.2 hereof.  If the Borrower fails to give notice pursuant to Section 1.6(a) above of the   continuation of any outstanding principal amount of a Borrowing of Eurocurrency Loans   denominated in an Alternative Currency before the last day of its then current Interest Period   within the period required by Section 1.6(a) hereof and has not notified the Administrative Agent   within the period required by Section 1.9(a) hereof that it intends to prepay such Borrowing,   such Borrowing shall automatically be continued as a Borrowing of Eurocurrency Loans in the   same Alternative Currency with an Interest Period of one month, subject to Section 6.2 hereof,   including the application of Section 1.4 hereof and of the restrictions contained in the definition   of Interest Period.      (d) Disbursement of Loans.  Not later than 11:00 a.m. (Chicago time) on the date of any   requested advance of a new Borrowing of Eurocurrency Loans, and not later than 2:00 p.m.   (Chicago time) on the date of any requested advance of a new Borrowing of Domestic Rate   Loans (other than Domestic Rate Loans the proceeds of which are used to repay Swingline   Loans), subject to Section 6 hereof, each Lender shall make available its Loan comprising part of   such Borrowing in funds immediately available at the principal office of the Administrative   Agent in Chicago, Illinois, except that if such Borrowing is denominated in an Alternative   Currency each Lender shall, subject to Section 1.4(c) and Section 6 hereof, make available its   Loan comprising part of such Borrowing at such office as the Administrative Agent has   previously specified in a notice to each Lender, in such funds as are then customary for the   settlement of international transactions in such currency and no later than such local time as is   necessary for such funds to be received and transferred to the Borrower for same day value on   the date of the Borrowing.  The Administrative Agent shall make available to the Borrower   Loans denominated in U.S. Dollars at the Administrative Agent’s principal office in Chicago,   Illinois and Loans denominated in Alternative Currencies at such office as the Administrative   Agent has previously agreed to with the Borrower, in each case in the type of funds received by   the Administrative Agent from the Lenders.    (e) Administrative Agent Reliance on Lender Funding.  Unless the Administrative   Agent shall have been notified by a Lender before the date or, in the case of a Borrowing of     

 

   -12-   Domestic Rate Loans prior to 1:00 p.m. (Chicago time) on the date, on which such Lender is   scheduled to make payment to the Administrative Agent of the proceeds of a Loan (which notice   shall be effective upon receipt) that such Lender does not intend to make such payment, the   Administrative Agent may assume that such Lender has made such payment when due and the   Administrative Agent may in reliance upon such assumption (but shall not be required to) make   available to the Borrower the proceeds of the Loan to be made by such Lender and, if any Lender   has not in fact made such payment to the Administrative Agent, such Lender shall, on demand,   pay to the Administrative Agent the amount made available to the Borrower attributable to such   Lender together with interest thereon in respect of each day during the period commencing on   the date such amount was made available to the Borrower and ending on (but excluding) the date   such Lender pays such amount to the Administrative Agent at a rate per annum equal to (i) from   the date the related advance was made by the Administrative Agent to the date two (2) Business   Days after payment by such Lender is due hereunder, the Federal Funds Rate for each such day   or, in the case of a Loan denominated in an Alternative Currency, the cost to the Administrative   Agent of funding the amount it advanced to fund such Lender’s Loan, as determined by the   Administrative Agent and (ii) from the date two (2) Business Days after the date such payment is   due from such Lender to the date such payment is made by such Lender, the Domestic Rate in   effect for each such day or, in the case of a Loan denominated in an Alternative Currency, the   rate established by Section 1.10(b) hereof for Eurocurrency Loans denominated in such currency.    If such amount is not received from such Lender by the Administrative Agent immediately upon   demand, the Borrower will, on demand, repay to the Administrative Agent the proceeds of the   Loan attributable to such Lender with interest thereon at a rate per annum equal to the interest   rate applicable to the relevant Loan, but without such payment being considered a payment or   prepayment of a Loan under Section 1.12 hereof, so that the Borrower will have no liability   under such Section with respect to such payment.  Any payment by the Borrower shall be   without prejudice to any claim the Borrower may have against a Lender that shall have failed to   make such payment to the Administrative Agent.    Section 1.7. Interest Periods.  As provided in Sections 1.2(d) and 1.6(a) hereof, at the   time of each request to advance, continue, or create by conversion a Borrowing of Eurocurrency   Loans or Swingline Loans, as applicable, the Borrower shall select an Interest Period applicable   to such Loans from among the available options.  The term “Interest Period” means the period   commencing on the date a Borrowing of Loans is advanced, continued, or created by conversion   and ending:  (a) in the case of Domestic Rate Loans, on the last day of the calendar quarter in   which such Borrowing is advanced, continued, or created by conversion (or on the last day of the   following quarter if such Loan is advanced, continued or created by conversion on the last day of   a calendar quarter), (b) in the case of Eurocurrency Loans, 1, 2, 3, 6, or, if available to all the   Lenders, 12 months thereafter, and (c) in the case of Swingline Loans, on the date, as the   Borrower may select, one (1) to five (5) days thereafter; provided, however, that:    (a) any Interest Period for a Borrowing of Loans consisting of Domestic Rate   Loans that otherwise would end after the Termination Date shall end on the Termination   Date;    (b) whenever the last day of any Interest Period would otherwise be a day that   is not a Business Day, the last day of such Interest Period shall be extended to the next     

 

   -13-   succeeding Business Day, provided that, if such extension would cause the last day of an   Interest Period for a Borrowing of Eurocurrency Loans to occur in the following calendar   month, the last day of such Interest Period shall be the immediately preceding Business   Day;     (c) for purposes of determining an Interest Period for a Borrowing of   Eurocurrency Loans, a month means a period starting on one day in a calendar month and   ending on the numerically corresponding day in the next calendar month; provided,   however, that if there is no numerically corresponding day in the month in which such an   Interest Period is to end or if such an Interest Period begins on the last Business Day of a   calendar month, then such Interest Period shall end on the last Business Day of the   calendar month in which such Interest Period is to end; and    (d) no Interest Period with respect to any portion of the Term Loans shall   extend beyond a date on which the Borrower is required to make a scheduled payment of   principal on such Term Loans, as applicable, unless the sum of (a) the aggregate principal   amount of such Term Loans, as applicable, that are Domestic Rate Loans plus (b) the   aggregate principal amount of such Term Loans, as applicable, that are Eurocurrency   Loans with Interest Periods expiring on or before such date equals or exceeds the   principal amount to be paid on the such  Term Loans, as applicable, on such payment   date.    Section 1.8. Maturity of Loans.  Each Revolving Loan shall mature and become due and   payable by the Borrower on the Termination Date.  Each Swingline Loan shall mature and   become due and payable on the earlier of (i) the last day of its Interest Period and (ii) the   Termination Date.    Section 1.9. Prepayments.  (a) Optional.  The Borrower may prepay without premium or   penalty and in whole or in part (but, if in part, then:  (i) if such Borrowing is of Domestic Rate   Loans, in an amount not less than $500,000, (ii) if such Borrowing is of Eurocurrency Loans   denominated in U.S. Dollars, in an amount not less than $1,000,000, (iii) if such Borrowing is   denominated in an Alternative Currency, an amount for which the U.S. Dollar Equivalent is not   less than $1,000,000 and (iv) in an amount such that the minimum amount required for a   Borrowing pursuant to Section 1.5 hereof remains outstanding) any Borrowing of Eurocurrency   Loans upon three (3) (or, if such Borrowing is denominated in a Alternative Currency four (4))   Business Day’s prior notice to the Administrative Agent or, in the case of a Borrowing of   Domestic Rate Loans, notice delivered to the Administrative Agent no later than 12:00 noon   (Chicago time) on the date of prepayment, such prepayment to be made by the payment of the   principal amount to be prepaid and, in the case of a prepayment of a Eurocurrency Loan, accrued   interest thereon to the date fixed for prepayment; provided that in the case of any such   prepayment of any Term Loans, Swingline Loans or Eurocurrency Loans, such prepayment shall   be accompanied by accrued interest thereon to the date fixed for prepayment plus amounts owing   under Section 1.12 hereof; provided further that any amounts not repaid on the date fixed for   prepayment shall be converted (subject to Sections 1.5 and 6.2 hereof) into a Borrowing of   Domestic Rate Loans.  The Administrative Agent will promptly advise each Lender of any such   prepayment notice it receives from the Borrower.       

 

   -14-    (b) Mandatory.  (i) If on any March 31, June 30, September 30 or December 31   occurring after the date hereof the sum of (a) the U.S. Dollar Equivalent of all outstanding   Revolving Loans hereunder, (b) the aggregate Original Dollar Amount of all outstanding   Swingline Loans hereunder, and (c) the U.S. Dollar Equivalent of all L/C Obligations exceeds   the Revolving Credit Commitments as then in effect, the Borrower shall immediately prepay   Revolving Loans and, if necessary, prefund L/C Obligations in an aggregate amount such that   after giving effect thereto the sum of (A) the U.S. Dollar Equivalent of all outstanding Revolving   Loans hereunder, (B) the aggregate Original Dollar Amount of all outstanding Swingline Loans   hereunder, and (C) the U.S. Dollar Equivalent of all outstanding L/C Obligations is less than or   equal to the Revolving Credit Commitments as then in effect.    (ii) The Borrower shall, on each date the Revolving Credit Commitments are reduced   pursuant to Section 1.13 hereof, prepay the Revolving Loans and, if necessary, prefund the   L/C Obligations by the amount, if any, necessary to reduce the sum of the aggregate Original   Dollar Amount of all Revolving Loans and Swingline Loans and U.S. Dollar Equivalent of all   L/C Obligations then outstanding to the amount to which the Revolving Credit Commitments   have been so reduced.    (c) Term Loans. No amount of the Term Loans paid or prepaid may be reborrowed,   and, in the case of any partial prepayment, such prepayment shall be applied to the remaining   payments on the relevant Loans as set forth in the applicable Incremental Amendment.    Section 1.10. Default Rate.  Notwithstanding anything to the contrary contained herein, if   any principal of or interest on any Loan or any fee or other amount payable by the Borrower   hereunder is not paid when due, whether at stated maturity, upon acceleration or otherwise, such   overdue amount shall bear interest, after as well as before judgment, at a rate per annum equal to:    (a) for any Domestic Rate Loan, the sum of two percent (2%) plus the   Domestic Rate from time to time in effect plus the Applicable Margin for Domestic Rate   Loans;     (b) for any Eurocurrency Loan, the sum of two percent (2%) plus the rate of   interest in effect thereon at the time of such default until the end of the Interest Period   applicable thereto and, thereafter, if such Loan is denominated in U.S. Dollars, at a rate   per annum equal to the sum of two percent (2%) plus the Domestic Rate from time to   time in effect plus the Applicable Margin for Domestic Rate Loans or, if such Loan is   denominated in an Alternative Currency, at a rate per annum equal to the sum of the   Eurocurrency Margin, plus two percent (2%) plus the rate of interest per annum as   determined by the Administrative Agent (rounded upwards, if necessary, to the next   higher one hundred-thousandth of a percentage point) at which overnight or weekend   deposits (or, if such amount due remains unpaid more than three Business Days, then for   such other period of time not longer than one month as the Administrative Agent may   elect in its absolute discretion) of the relevant Alternative Currency for delivery in   immediately available and freely transferable funds would be offered by the   Administrative Agent to major banks in the interbank market upon request of such major   banks for the applicable period as determined above and in an amount comparable to the     

 

   -15-   unpaid principal amount of any such Eurocurrency Loan (or, if the Administrative Agent   is not placing deposits in such currency in the interbank market, then the Administrative   Agent’s cost of funds in such currency for such period);    (c) for any Swingline Loan, the sum of 2% plus the rate of interest in effect   thereon at the time of such default until the end of the Interest Period applicable thereto   and, thereafter, at a rate per annum equal to 2% plus the Applicable Margin for Domestic   Rate Loans plus the Domestic Rate from time to time in effect;    (d) for any Reimbursement Obligation, the sum of 2.0% plus the amounts due   under Section 1.3 hereof with respect to such Reimbursement Obligation;     (e) for any Letter of Credit, the sum of 2.0% plus the letter of credit fee due   under Section 2.1 hereof with respect to such Letter of Credit; and    (f) for any other amount owing hereunder not covered by clauses (a) through   (e) above, the sum of 2% plus the Applicable Margin plus the Domestic Rate from time   to time in effect.   provided, however, that in the absence of acceleration, any adjustments pursuant to this   Section 1.10 shall be made at the election of the Administrative Agent, acting at the request or   with the consent of the Required Lenders, with written notice to the Borrower.  While any Event   of Default exists or after acceleration, interest shall be paid on demand of the Administrative   Agent at the request or with the consent of the Required Lenders.    Section 1.11. Evidence of Indebtedness; Notes.  (a)  Each Lender shall maintain in   accordance with its usual practice an account or accounts evidencing the indebtedness of the   Borrower to such Lender resulting from each Loan made by such Lender from time to time,   including the amounts of principal and interest payable and paid to such Lender from time to   time hereunder.    (b) The Administrative Agent shall also maintain accounts in which it will record (i) the   amount of each Loan made hereunder, the type thereof and the Interest Period with respect   thereto, (ii) the amount of any principal or interest due and payable or to become due and   payable from the Borrower to each Lender hereunder and (c) the amount of any sum received by   the Administrative Agent hereunder from the Borrower and each Lender’s share thereof.    (c) The entries maintained in the accounts maintained pursuant to paragraphs (a) and   (b) above shall be prima facie evidence of the existence and amounts of the Obligations therein   recorded; provided, however, that the failure of the Administrative Agent or any Lender to   maintain such accounts or any error therein shall not in any manner affect the obligation of the   Borrower to repay the Obligations in accordance with their terms.    (d) Any Lender may request that its Loans be evidenced by a Note or Notes.  In such   event, the Borrower shall prepare, execute and deliver to such Lender a Note or Notes payable to   the order of such Lender in a form supplied by the Administrative Agent and reasonably     

 

   -16-   acceptable to the Borrower.  Thereafter, the Loans evidenced by such Note or Notes and interest   thereon shall at all times (including after any assignment pursuant to Section 12.12 hereof) be   represented by one or more Notes payable to the payee named therein or any registered assignee   permitted pursuant to Section 12.12 hereof except to the extent that any such Lender or assignee   subsequently returns any such Note for cancellation and requests that such Loans once again be   evidenced as described in subsections (a) and (b) above.    Section 1.12. Funding Indemnity.  If any Lender shall incur any loss, cost or expense   (including, without limitation, any loss, cost or expense incurred by reason of the liquidation or   re-employment of deposits or other funds acquired by such Lender to fund or maintain any   Eurocurrency Loan or Swingline Loan or the relending or reinvesting of such deposits or   amounts paid or prepaid to such Lender) as a result of:    (a) any payment, prepayment or conversion of a Eurocurrency Loan or   Swingline Loan on a date other than the last day of its Interest Period,    (b) any failure (because of a failure to meet the conditions of Section 6   hereof or otherwise) by the Borrower to borrow or continue a Eurocurrency Loan or   Swingline Loan, or to convert a Domestic Rate Loan into a Eurocurrency Loan, on   the date specified in a notice given pursuant to Section 1.6(a) hereof or established   pursuant to Section 1.6(c) hereof,    (c) any failure by the Borrower to make any payment of principal on   any Eurocurrency Loan or Swingline Loan when due (whether by acceleration or   otherwise), or    (d) any acceleration of the maturity of a Eurocurrency Loan or   Swingline Loan as a result of the occurrence of any Event of Default hereunder,   then, upon the demand of such Lender, the Borrower shall pay to such Lender such amount as   will reimburse such Lender for such loss, cost or expense.  If any Lender makes such a claim for   compensation, it shall provide to the Borrower, with a copy to the Administrative Agent, a   certificate executed by an officer of such Lender setting forth the amount of such loss, cost or   expense in reasonable detail (including an explanation of the basis for and the computation of   such loss, cost or expense) and the amounts shown on such certificate if reasonably calculated   shall be conclusive absent manifest error.    Section 1.13. Commitment Terminations.  (a) The Borrower shall have the right at any   time and from time to time, upon five (5) Business Days’ prior written notice to the   Administrative Agent (or such shorter period of time agreed by the Administrative Agent), to   terminate the Revolving Credit Commitments without premium or penalty, in whole or in part,   any partial termination to be in an amount not less than $5,000,000, provided that the Revolving   Credit Commitments may not be reduced to an amount less than the sum of the Original Dollar   Amount of all Revolving Loans and Swingline Loans and the U.S. Dollar Equivalent of all   L/C Obligations then outstanding.  The Borrower shall have the right at any time and from time   to time, by notice to the Administrative Agent, to reduce or terminate the L/C  Sublimit without     

 

   -17-   premium or penalty, in whole or in part; provided that the L/C Sublimit may not be reduced to   an amount less than the U.S. Dollar Equivalent of all L/C Obligations then outstanding. The   Borrower shall have the right at any time and from time to time, by notice to the Administrative   Agent, to reduce or terminate the Swingline Sublimit without premium or penalty, in whole or in   part; provided that the Swingline Sublimit may not be reduced to an amount less than the   aggregate principal amount of the Swingline Loans then outstanding.  Any such termination of   the L/C  Sublimit or the Swingline Sublimit shall not reduce the Revolving Credit Commitments   unless the Borrower elects to do so in the manner provided above.    (b) The Administrative Agent shall give prompt notice to each Lender pursuant to this   Section 1.13 of any termination of Revolving Credit Commitments. Any such termination of   Revolving Credit Commitments (i) shall be allocated ratably among the Lenders in proportion to   their respective Revolver Percentages and (ii) may not be reinstated.  Any termination of the   Revolving Credit Commitments to an aggregate amount less than the L/C Sublimit then in effect   shall reduce the L/C Sublimit to an amount equal to the Revolving Credit Commitments.  Any   termination of the Revolving Credit Commitments to an aggregate amount less than the   Swingline Sublimit then in effect shall reduce the Swingline Sublimit to an amount equal to the   Revolving Credit Commitments.    Section 1.14. Substitution of Lenders.  In the event (a) the Borrower receives a claim from   any Lender for compensation under Section 9.3 or 12.1 hereof, (b) the Borrower receives notice   from any Lender of any illegality pursuant to Section 9.1 hereof, (c) any Lender is then a   Defaulting Lender, or (d) a Lender fails to consent to an amendment or waiver requested under   Section 12.13 hereof at a time when the Required Lenders have approved such amendment or   waiver (any such Lender referred to in clause (a), (b), (c), or (d) above being hereinafter referred   to as an “Affected Lender”), the Borrower may, in addition to any other rights the Borrower may   have hereunder or under applicable law, require, at its expense, any such Affected Lender to   assign, at par plus accrued interest and fees, without recourse, all of its interest, rights, and   obligations hereunder (including all of its Revolving Credit Commitment and the Loans and   participation interests in Letters of Credit and Swingline Loans and other amounts at any time   owing to it hereunder and the other Credit Documents but excluding its existing rights to   payments pursuant to Section 9.3, Section 12.1 or Section 12.15 hereof) to an Eligible Assignee   specified by the Borrower, provided that:     (i) the Borrower shall have paid to the Administrative Agent the assignment   fee (if any) specified in Section 12.12 hereof;    (ii) such Lender shall have received payment of an amount equal to the   outstanding principal of its Loans and funded participations in L/C Obligations and   Swingline Loans, accrued interest thereon, accrued fees and all other amounts payable to   it hereunder and under the other Credit Documents (including all amounts under Sections   9.3 and 12.1 hereof and any amounts under Section 12.15 hereof and any amounts under   Section 1.12 hereof as if the Loans owing to it were prepaid rather than assigned) from   the assignee (to the extent of such outstanding principal and accrued interest and fees) or   the Borrower (in the case of all other amounts);     

 

   -18-    (iii) in the case of any such assignment resulting from a claim for   compensation under Section 9.3 hereof or payments required to be made pursuant to   Section 12.1 hereof, such assignment will result in a reduction in such compensation or   payments thereafter;    (iv) such assignment does not conflict with applicable law; and    (v) in the case of any assignment resulting from a Lender becoming a   Non-Consenting Lender, the applicable assignee shall have consented to the applicable   amendment, waiver or consent.   A Lender shall not be required to make any such assignment or delegation if, prior   thereto, as a result of a waiver by such Lender or otherwise, the circumstances entitling the   Borrower to require such assignment and delegation cease to apply.    Section 1.15. Increase in Revolving Credit Commitments and New Term Loans.  The   Borrower may, on any Business Day after the Effective Date and prior to the Termination Date   (without the consent of any Lender) increase the aggregate amount of the Revolving Credit   Commitments and/or borrow one or more term loans under this Agreement (the “New Term   Loans”) by delivering an Increase Request substantially in the form attached hereto as Exhibit F   (or in such other form reasonably acceptable to the Administrative Agent) to the Administrative   Agent at least five (5) Business Days prior to the desired effective date of such increase of the   Revolving Credit Commitments or the making of such new term loan(s) (each an “Increase”).    The Increase Request shall identify additional Lenders (which additional Lenders shall be subject   to the consents and the other restrictions, in each case, as set forth in Section 12.12 hereof to the   same extent as if such additional Lenders were an assignee hereunder) and/or increased   Revolving Credit Commitments or New Term Loans of existing Lender(s) and the amount of   each such Lender’s Revolving Credit Commitment or New Term Loan commitment, as   applicable; provided, however, that:    (i) the aggregate amount of all Increases in respect of the Revolving Credit   Commitments plus the aggregate principal amount of all Increases in respect of New   Term Loans shall not exceed the sum of $1,000,000,000 plus the aggregate amount of   any prepayment or repayment of New Term Loans; provided, further that the amount of   any such Increase in respect of (x) additional Revolving Credit Commitments shall be in   an amount not less than $10,000,000 (or such lesser amount then agreed to by the   Administrative Agent) and (y) New Term Loans shall be in an amount not less than   $20,000,000 (or such lesser amount then agreed to by the Administrative Agent),    (ii) no Default or Event of Default has occurred and is continuing immediately   prior to, or after giving effect to the Revolving Loans or New Term Loans made pursuant   to such Increase, subject to the provisions of Section 4.4 hereof in the case of any New   Term Loan the proceeds of which will be used to finance a Limited Condition   Acquisition,     

 

   -19-    (iii) all representations and warranties contained in Section 5 hereof shall be   true and correct at the time of such request and on the effective date of such Increase,   subject to the provisions of Section 4.4 hereof in the case of any New Term Loan the   proceeds of which will be used to finance a Limited Condition Acquisition,    (iv) prior to the effectiveness of any Increase, the Administrative Agent shall   have received a copy, certified by the secretary or assistant secretary of the Parent, of   resolutions of the Parent’s board of directors authorizing the amount of such Increase,    (v) in the case of a New Term Loan, the Borrower and its Subsidiaries will be   in pro forma compliance (after giving effect to such New Term Loan) with all financial   covenants specified in Section 7.15 and 7.16 hereof as of the last day of the most recently   completed calendar quarter for which financial statements are available, subject to the   provisions of Section 4.4 hereof in the case of any New Term Loan the proceeds of which   will be used to finance a Limited Condition Acquisition,     (vi) in the case of an Increase in the aggregate Revolving Credit   Commitments, the Borrower shall not have terminated any portion of the Revolving   Credit Commitments pursuant to Section 1.13 hereof, and    (vii) the proceeds of any Borrowing of an Increase shall be used solely as   provided in Section 7.10 hereof.   The effective date (the “Increase Date”) of the Increase shall be the date the New Term Loans   are funded or the Revolving Credit Commitments are increased.  With respect to an Increase in   the Revolving Credit Commitments as described above, on the Increase Date, the new Lender(s)   (or, if applicable, existing Lender(s)) with a Revolving Credit Commitment shall advance   Revolving Loans, as applicable, in an amount sufficient such that after giving effect to such   advance(s) or loan(s) and the prepayment of Loans by any Lender(s) whose Revolving Credit   Commitment is not increased, each Lender shall have outstanding its Revolver Percentage of   Revolving Loans, as applicable.  It shall be a condition to such effectiveness that if any   Eurocurrency Loans are outstanding under the Revolving Credit on the date of such effectiveness   of an Increase in the Revolving Credit Commitments, such Eurocurrency Loans shall be deemed   to be prepaid on such date (to the minimum extent necessary to allocate such outstanding   Eurocurrency Loans in accordance with the Revolver Percentage of each Lender after giving   effect to the related Increase) and the Borrower shall pay any amounts owing to the Lenders   pursuant to Section 1.12 hereof.  The Borrower agrees to pay all reasonable and documented   out-of-pocket costs and expenses of the Administrative Agent relating to any Increase in   accordance with Section 12.15 hereof.  Notwithstanding anything herein to the contrary, no   Lender shall have any obligation to increase its Revolving Credit Commitment or make a New   Term Loan and no Lender’s Revolving Credit Commitment shall be increased without its written   consent thereto, and each Lender may at its option, unconditionally and without cause, decline to   increase its Revolving Credit Commitment or make New Term Loans.  For the avoidance of   doubt, all Revolving Loans made pursuant to an Increase, and the Revolving Credit   Commitments in connection therewith, shall be made on and subject to the terms and conditions   applicable to all other Revolving Loans and Revolving Credit Commitments hereunder.     

 

   -20-   The New Term Loans (a) shall have a final maturity date no earlier than the Termination   Date, (b) shall amortize as agreed between the Borrower and the Lenders providing such New   Term Loan, and (c) shall otherwise be made on and subject to terms, taken as a whole, not   materially more favorable to the Lenders advancing the New Term Loans (other than in   connection with pricing, fees, scheduled amortization and customary mandatory prepayment   terms) than those applicable to the Revolving Loans, provided that delivery to the Administrative   Agent at least five Business Days prior to the incurrence of such New Term Loan (or, at the   option of the Borrower, five Business Days prior to the execution of a commitment letter or   engagement letter with respect to a New Term Loan) of a certificate from a Responsible Officer   (together with a reasonably detailed description of the material terms and conditions of such New   Term Loan or drafts of the documentation relating thereto) certifying that the Borrower has   determined in good faith that such terms and conditions comply with clause (c) above shall be   conclusive evidence that such terms and conditions comply with clause (c) above unless the   Administrative Agent notifies the Borrower within such five Business Day period that it   disagrees with such determination (including a reasonable description of the basis upon which it   disagrees).   The Borrower may request from the Administrative Agent confirmation that the New   Term Loans comply with clause (c) above by delivering to the Administrative Agent a certificate   from a Responsible Officer to the effect that the terms of the New Term Loans comply with   clause (c) above together with a substantially final draft of the Incremental Amendment referred   to below.   Commitments in respect of New Term Loans shall become effective under this   Agreement pursuant to an Increase Request and, if necessary, an amendment (an “Incremental   Amendment”) to this Agreement and, as appropriate, the other Credit Documents, executed by   the Borrower and Guarantors, each Lender agreeing to provide such New Term Loan, each   additional Lender, if any, and the Administrative Agent.  The Incremental Amendment may,   without the consent of any other Lenders, effect such amendments to this Agreement and the   other Credit Documents as may be necessary or appropriate, in the reasonable opinion of the   Administrative Agent and the Borrower, to effect the provisions of this Section 1.15.  The   Lenders hereby authorize the Administrative Agent to execute such other documents,   instruments and agreements as may be necessary in the reasonable opinion of the Administrative   Agent to give effect to the Incremental Amendment.    Section 1.16. Defaulting Lenders.  (a) Defaulting Lender Adjustments.  Notwithstanding   anything to the contrary contained in this Agreement, if any Lender becomes a Defaulting   Lender, then, until such time as such Lender is no longer a Defaulting Lender, to the extent   permitted by applicable law:    (i) Waivers and Amendments.  Such Defaulting Lender’s right to approve or   disapprove any amendment, waiver or consent with respect to this Agreement shall be   restricted as set forth in the definition of Required Lenders and Section 12.13 hereof.    (ii) Defaulting Lender Waterfall. Any payment of principal, interest, fees or   other amounts received by the Administrative Agent for the account of such Defaulting     

 

   -21-   Lender (whether voluntary or mandatory, at maturity, pursuant to Section 8 hereof or   otherwise) or received by the Administrative Agent from a Defaulting Lender pursuant to   Section 12.7 hereof shall be applied at such time or times as may be determined by the   Administrative Agent as follows: first, to the payment of any amounts owing by such   Defaulting Lender to the Administrative Agent hereunder; second, to the payment on a   pro rata basis of any amounts owing by such Defaulting Lender to any L/C Issuer or the   Swingline Lender hereunder; third, to Cash Collateralize each L/C Issuer’s Fronting   Exposure with respect to such Defaulting Lender in accordance with Section 1.17 hereof;   fourth, as the Borrower may request (so long as no Default or Event of Default exists), to   the funding of any Loan in respect of which such Defaulting Lender has failed to fund its   portion thereof as required by this Agreement, as determined by the Administrative   Agent; fifth, if so determined by the Administrative Agent and the Borrower, to be held in   a deposit account and released pro rata in order to (x) satisfy such Defaulting Lender’s   potential future funding obligations with respect to Loans under this Agreement and   (y) Cash Collateralize each L/C Issuer’s future Fronting Exposure with respect to such   Defaulting Lender with respect to future Letters of Credit issued under this Agreement, in   accordance with Section 1.3 hereof; sixth, to the payment of any amounts owing to the   Lenders, any L/C Issuer or the Swingline Lender as a result of any judgment of a court of   competent jurisdiction obtained by any Lender, any L/C Issuer or the Swingline Lender   against such Defaulting Lender as a result of such Defaulting Lender’s breach of its   obligations under this Agreement; seventh, so long as no Default or Event of Default   exists, to the payment of any amounts owing to the Borrower as a result of any judgment   of a court of competent jurisdiction obtained by the Borrower against such Defaulting   Lender as a result of such Defaulting Lender’s breach of its obligations under this   Agreement; and eighth, to such Defaulting Lender or as otherwise directed by a court of   competent jurisdiction; provided that if (x) such payment is a payment of the principal   amount of any Loans or L/C Obligations in respect of which such Defaulting Lender has   not fully funded its appropriate share, and (y) such Loans were made or the related   Letters of Credit were issued at a time when the conditions set forth in Section 6.2 hereof   were satisfied or waived, such payment shall be applied solely to pay the Loans of, and   L/C Obligations owed to, all Non-Defaulting Lenders on a pro rata basis prior to being   applied to the payment of any Loans of, or L/C Obligations owed to, such Defaulting   Lender until such time as all Loans and funded and unfunded participations in   L/C Obligations and Swingline Loans are held by the Lenders pro rata in accordance   with their Percentages without giving effect to Section 1.16(a)(iv) hereof. Any payments,   prepayments or other amounts paid or payable to a Defaulting Lender that are applied (or   held) to pay amounts owed by a Defaulting Lender or to post Cash Collateral pursuant to   this Section 1.16(a)(ii) shall be deemed paid to and redirected by such Defaulting Lender,   and each Lender irrevocably consents hereto.    (iii) Certain Fees.     (A) Each Defaulting Lender shall be entitled to receive a facility fee   pursuant to Section 2.1(a) hereof for any period during which that Lender is a   Defaulting Lender only to extent allocable to the sum of (1) the outstanding   principal amount of the Revolving Loans funded by it, and (2) its Revolver     

 

   -22-   Percentage of the stated amount of Letters of Credit for which it has provided   Cash Collateral pursuant to Section 1.17 hereof.      (B) Each Defaulting Lender shall be entitled to receive a letter of credit   participation fee pursuant to Section 2.1(b) hereof for any period during which   that Lender is a Defaulting Lender only to the extent allocable to its Revolver   Percentage of the stated amount of Letters of Credit for which it has provided   Cash Collateral pursuant to Section 1.17 hereof.    (C) With respect to any facility fee or letter of credit participation fee   not required to be paid to any Defaulting Lender pursuant to clause (A) or (B)   above, the Borrower shall (x) pay to each Non-Defaulting Lender that portion of   any such fee otherwise payable to such Defaulting Lender with respect to such   Defaulting Lender’s participation in L/C Obligations or Swingline Loans that has   been reallocated to such Non-Defaulting Lender pursuant to clause (iv) below, (y)   pay to the applicable L/C Issuer and Swingline Lender, as applicable, the amount   of any such fee otherwise payable to such Defaulting Lender to the extent   allocable to such L/C Issuer’s or Swingline Lender’s Fronting Exposure to such   Defaulting Lender, and (z) not be required to pay the remaining amount of any   such fee.    (iv) Reallocation of Participations to Reduce Fronting Exposure.  All or any   part of such Defaulting Lender’s participation in L/C Obligations and Swingline Loans   shall be reallocated among the Non-Defaulting Lenders in accordance with their   respective Revolver Percentages (calculated without regard to such Defaulting Lender’s   Revolving Credit Commitment) but only to the extent that (x) the conditions set forth in   Section 6.2 hereof are satisfied at the time of such reallocation (and, unless the Borrower   shall have otherwise notified the Administrative Agent at such time, the Borrower shall   be deemed to have represented and warranted that such conditions are satisfied at such   time), and (y) such reallocation does not cause the aggregate Revolving Loans and   interests in L/C Obligations and Swingline Loans of any Non-Defaulting Lender to   exceed such Non-Defaulting Lender’s Revolving Credit Commitment.  Subject to   Section 12.29 hereof, no reallocation hereunder shall constitute a waiver or release of any   claim of any party hereunder against a Defaulting Lender arising from that Lender having   become a Defaulting Lender, including any claim of a Non-Defaulting Lender as a result   of such Non-Defaulting Lender’s increased exposure following such reallocation.    (v) Cash Collateral; Repayment of Swingline Loans.  If the reallocation   described in clause (iv) above cannot, or can only partially, be effected, the Borrower   shall, without prejudice to any right or remedy available to it hereunder or under law,   (x) first, prepay Swingline Loans in an amount equal to the Swingline Lender’s Fronting   Exposure and (y) second, Cash Collateralize each L/C Issuer’s Fronting Exposure in   accordance with the procedures set forth in Section 1.17 hereof.    (b) Defaulting Lender Cure.  If the Borrower, the Administrative Agent, the Swingline   Lender and the L/C Issuers agree in writing that a Lender is no longer a Defaulting Lender, the     

 

   -23-   Administrative Agent promptly will so notify the parties hereto, whereupon as of the effective   date specified in such notice and subject to any conditions set forth therein (which may include   arrangements with respect to any Cash Collateral), that Lender will, to the extent applicable,   purchase at par that portion of outstanding Loans of the other Lenders or take such other actions   as the Administrative Agent may determine to be necessary to cause the Revolving Loans and   funded and unfunded participations in Letters of Credit and Swingline Loans to be held pro rata   by the Lenders in accordance with their respective Percentages (without giving effect to   Section 1.16(a)(iv) hereof), whereupon such Lender will cease to be a Defaulting Lender;   provided that no adjustments will be made retroactively with respect to fees accrued or payments   made by or on behalf of the Borrower while that Lender was a Defaulting Lender; and provided,   further, that except to the extent otherwise expressly agreed by the affected parties, no change   hereunder from Defaulting Lender to Lender will constitute a waiver or release of any claim of   any party hereunder arising from that Lender’s having been a Defaulting Lender.    (c) New Letters of Credit.  So long as any Lender is a Defaulting Lender, no L/C Issuer   shall be required to issue, extend, renew or increase any Letter of Credit unless it is satisfied that   it will have no Fronting Exposure after giving effect thereto.    Section 1.17. Cash Collateral for Fronting Exposure  At any time that there shall exist a   Defaulting Lender, within one (1) Business Day following the written request of the   Administrative Agent or any L/C Issuer (with a copy to the Administrative Agent), the Borrower   shall Cash Collateralize each L/C Issuer’s Fronting Exposure with respect to such Defaulting   Lender (determined after giving effect to Section 1.16(a)(iv) hereof and any Cash Collateral   provided by such Defaulting Lender) in an amount not less than the Minimum Collateral   Amount.    (a) Grant of Security Interest.  Each of the Borrower, and to the extent provided by any   Defaulting Lender, such Defaulting Lender, hereby grants to the Administrative Agent, for the   benefit of the applicable L/C Issuer, and agrees to maintain, a first priority security interest in all   such Cash Collateral as security for such Defaulting Lender’s obligation to fund participations in   respect of L/C Obligations, to be applied pursuant to clause (b) below.  If at any time the   Administrative Agent determines that Cash Collateral is subject to any right or claim of any   Person other than the Administrative Agent and the applicable L/C Issuer as herein provided, or   that the total amount of such Cash Collateral is less than the Minimum Collateral Amount, the   Borrower shall, promptly upon demand by the Administrative Agent, pay or provide to the   Administrative Agent additional Cash Collateral in an amount sufficient to eliminate such   deficiency (after giving effect to any Cash Collateral provided by such Defaulting Lender).    (b) Application.  Notwithstanding anything to the contrary contained in this Agreement,   Cash Collateral provided under this Section 1.17 or Section 1.16 hereof in respect of Letters of   Credit shall be applied to the satisfaction of such Defaulting Lender’s obligation to fund   participations in respect of L/C Obligations (including, as to Cash Collateral provided by a   Defaulting Lender, any interest accrued on such obligation) for which the Cash Collateral was so   provided, prior to any other application of such property as may otherwise be provided for   herein.     

 

   -24-    (c) Termination of Requirement.  Cash Collateral (or the appropriate portion thereof)   provided to reduce an L/C Issuer’s Fronting Exposure shall no longer be required to be held as   Cash Collateral pursuant to this Section 1.17 following (A) the elimination of the applicable   Fronting Exposure (including by the termination of Defaulting Lender status of the applicable   Lender), or (B) the determination by the Administrative Agent and the applicable L/C Issuer that   there exists excess Cash Collateral; provided that the Person providing Cash Collateral and the   applicable L/C Issuer may agree that Cash Collateral shall be held to support future anticipated   Fronting Exposure or other obligations.  So long as no Default or Event of Default shall have   occurred and be continuing, upon determining that Cash Collateral shall no longer be required to   be provided under this Section 1.17 or that excess Cash Collateral exists, upon the Borrower's   request, the Administrative Agent shall promptly return the Cash Collateral (or excess portion) to   the Borrower.   SECTION 2. FEES.    Section 2.1. Fees.  (a) Facility Fee.  For the period from the Effective Date to and   including the Termination Date, the Borrower shall pay to the Administrative Agent for the   ratable account of the Lenders in accordance with their Revolver Percentages a facility fee (the   “Facility Fee”) on the average daily Revolving Credit Commitments, regardless of usage, at a   rate per annum equal to the applicable Facility Fee in the definition of Applicable Margin;   provided that if any Lender continues to have outstanding Revolving Loans, Swingline Loans or   L/C Obligations (including participations therein) after its Revolving Credit Commitment   terminates, then the Facility Fee shall continue to accrue on the daily amount of such Lender’s   outstanding Revolving Loans, Swingline Loans and L/C Obligations (including participations   therein).  Accrued Facility Fees shall be due and payable in arrears on June 30, 2016, on the last   day of each calendar quarter thereafter and on the Termination Date, unless the Revolving Credit   Commitments are terminated in whole on an earlier date, in which event the fee for the period to   but not including the date of such termination shall be paid in whole on the date of such   termination; provided that any Facility Fee accruing after the date the Revolving Credit   Commitments terminate shall be payable on demand.    (b) Letter of Credit Fees.  On the date of issuance or extension, or increase in the   amount, of any Letter of Credit pursuant to Section 1.3 hereof, the Borrower shall pay to the   applicable L/C Issuer for its own account a fronting fee equal to 0.125% of the face amount of   (or of the increase in the face amount of) such Letter of Credit.  Quarterly in arrears, on the last   day of each calendar quarter, commencing on June 30, 2016, the Borrower shall pay to the   Administrative Agent, for the ratable benefit of the Lenders in accordance with their Revolver   Percentages, a letter of credit fee at a rate per annum equal to the Applicable Margin in effect   during each day of such quarter applied to the daily average U.S. Dollar Equivalent of the face   amount of Letters of Credit outstanding during such quarter.  In addition, the Borrower shall pay   to the applicable L/C Issuer for its own account such L/C Issuer’s standard issuance, drawing,   negotiation, amendment, assignment, and other administrative fees for each Letter of Credit as   established by such L/C Issuer from time to time.     (c) Administrative Agent Fees.  The Borrower shall pay to the Administrative Agent the   fees agreed to between the Administrative Agent and the Parent in writing from time to time.     

 

   -25-    (d) Fee Calculations.  All fees payable under Sections 2.1(a) and (b) hereof shall be   computed on the basis of a year of 365 or 366 days, as applicable, for the actual number of days   elapsed.   SECTION 3. PLACE AND APPLICATION OF PAYMENTS.    Section 3.1. Place and Application of Payments.  All payments of principal of and   interest on the Loans and the Reimbursement Obligations, and of all other amounts payable by   the Borrower under this Agreement, shall be made by the Borrower to the Administrative Agent   by no later than 12:00 Noon (Chicago time) on the due date thereof at the principal office of the   Administrative Agent in Chicago, Illinois (or such other location in the State of Illinois as the   Administrative Agent may designate to the Borrower) or, if such payment is to be made in an   Alternative Currency, no later than 12:00 Noon local time at the place of payment to such office   as the Administrative Agent has previously specified in a notice to the Borrower for the benefit   of the Person or Persons entitled thereto.  Any payments received after such time shall be   deemed to have been received by the Administrative Agent on the next Business Day.  All such   payments shall be made (i) in U.S. Dollars, in immediately available funds at the place of   payment, or (ii) in the case of amounts payable hereunder in an Alternative Currency, in such   Alternative Currency in such funds then customary for the settlement of international   transactions in such currency, in each case without setoff or counterclaim.  The Administrative   Agent will promptly thereafter cause to be distributed like funds relating to the payment of   principal or interest on Loans and on Reimbursement Obligations in which the Lenders have   purchased Participating Interests or facility fees ratably to the Lenders and like funds relating to   the payment of any other amount payable to any Person to such Person, in each case to be   applied in accordance with the terms of this Agreement.  If the Administrative Agent causes   amounts to be distributed to the Lenders in reliance upon the assumption that the Borrower will   make a scheduled payment and such scheduled payment is not so made, each Lender shall, on   demand, repay to the Administrative Agent the amount distributed to such Lender together with   interest thereon in respect of each day during the period commencing on the date such amount   was distributed to such Lender and ending on (but excluding) the date such Lender repays such   amount to the Administrative Agent, at a rate per annum equal to:  (i) from the date the   distribution was made to the date two (2) Business Days after payment by such Lender is due   hereunder, (x) if such scheduled payment was to be made in U.S. Dollars, the Federal Funds Rate   for each such day and (y) if such scheduled payment was to be made in an Alternative Currency,   at the rate of interest per annum as determined by the Administrative Agent at which overnight   or weekend deposits in the relevant currency for delivery of immediately available and freely   transferable funds are offered by the Person serving as Administrative Agent to major banks in   the interbank market for each such day and (ii) from the date two (2) Business Days after the   date such payment is due from such Lender to the date such payment is made by such Lender,   (x) if such scheduled payment was to be made in U.S. Dollars, the Domestic Rate in effect for   each such day and (y) if such scheduled payment was to be made in an Alternative Currency, the   rate per annum established by Section 1.10(b) hereof for Eurocurrency Loans denominated in   such currency.     

 

   -26-   SECTION 4. DEFINITIONS; INTERPRETATION.    Section 4.1. Definitions.  The following terms when used herein have the following   meanings:   “Account” is defined in Section 8.4(b) hereof.   “Acquired Business” means the entity or assets acquired by the Parent or one of its   Subsidiaries in an Acquisition.   “Acquisition” means any transaction, or any series of related transactions, consummated   after the Effective Date, by which the Parent or any of its Subsidiaries (i) acquires any business   or all or substantially all of the assets of any firm, corporation or division thereof, whether   through purchase of assets, merger or otherwise, (ii) directly or indirectly acquires (in one   transaction or as the most recent transaction in a series of transactions) at least a majority (in   number of votes) of the securities of a corporation which have ordinary voting power for the   election of directors (other than securities having such power only by reason of the happening of   a contingency) or at least a majority of the partnership interests of any partnership or at least a   majority interest in a joint venture or (iii) merges, consolidates or otherwise combines with   another Person (other than a Person that is a Subsidiary or the Parent) provided that the Parent or   the Subsidiary is the surviving entity or such surviving entity becomes a Subsidiary.    “Act” is defined in Section 12.27 hereof.   “Adjusted EBIT” means, for any period, Consolidated Net Income for such period plus   all amounts deducted in arriving at such Consolidated Net Income for such period for (i) Interest   Expense, (ii) federal, state and local income tax expense, (iii) all non-cash contributions or   accruals to or with respect to deferred profit sharing or compensation, and (iv) Permitted   Adjustments; provided that any amounts added to Consolidated Net Income pursuant to   clause (iii) above for any period shall be deducted from Consolidated Net Income for the period,   if ever, in which such amounts are paid in cash by the Parent or any of its Subsidiaries.   “Adjusted EBITDA” means, for any period, Consolidated Net Income for such period   plus all amounts deducted in arriving at such Consolidated Net Income for such period for   (i) Interest Expense, (ii) federal, state and local income tax expense, (iii) all amounts properly   charged for depreciation of fixed assets and amortization of intangible assets on the books of the   Parent and its Restricted Subsidiaries, (iv) all non-cash contributions or accruals to or with   respect to deferred profit sharing or compensation, and (v) Permitted Adjustments; provided that   any amounts added to Consolidated Net Income pursuant to clause (iv) above for any period   shall be deducted from Consolidated Net Income for the period, if ever, in which such amounts   are paid in cash by the Parent or any of its Subsidiaries.   “Adjusted LIBOR” means, for any Borrowing of Eurocurrency Loans, a rate per annum   determined in accordance with the following formula:     

 

   -27-   Adjusted LIBOR =              LIBOR___________   1 - Eurocurrency Reserve Percentage   Where,   “LIBOR” means, for an Interest Period for a Borrowing of Eurocurrency Loans,   the higher of (i) (a) the LIBOR Index Rate for such Interest Period, if such rate is   available and can be determined, and (b) if the LIBOR Index Rate is not available and   cannot be determined, the average rate of interest per annum (rounded upwards, if   necessary, to the nearest one hundred-thousandth of a percentage point) at which deposits   in U.S. Dollars or the relevant Alternative Currency, as appropriate, in immediately   available funds are offered to the Person serving as the Administrative Agent at   11:00 a.m. (London, England time) two (2) Business Days before the beginning of such   Interest Period by major banks in the interbank eurocurrency market for delivery on the   first day of and for a period equal to such Interest Period in an amount equal or   comparable to the principal amount of the Eurocurrency Loan scheduled to be made by   the Person serving as the Administrative Agent as part of such Borrowing and (ii) 0.00%.   “LIBOR Index Rate” means, for any Interest Period, the rate per annum (rounded   upwards, if necessary, to the next higher one hundred-thousandth of a percentage point)   for deposits in U.S. Dollars or the relevant Alternative Currency, as appropriate, for a   period equal to such Interest Period, which appears on the appropriate Reuters Page for   such currency, as of 11:00 a.m. (London, England time) on the day two (2) Business   Days before the commencement of such Interest Period.   “Reuters Page” means the page designated on the Reuters Service (or on any   successor or substitute page of such service, or any successor to or a publicly available   substitute for such service, providing rate quotations comparable to those currently   provided or, if not currently provided, previously provided on such page of such service,   as determined by the Administrative Agent from time to time for purposes of providing   quotations of interest rates applicable to deposits in the London interbank market in the   applicable currency).   “Eurocurrency Reserve Percentage” means, for any Borrowing of Eurocurrency   Loans, the daily average for the applicable Interest Period of the maximum rate,   expressed as a decimal, at which reserves (including, without limitation, any   supplemental, marginal and emergency reserves) are imposed during such Interest Period   by the Board of Governors of the Federal Reserve System (or any successor) on   “eurocurrency liabilities”, as defined in such Board’s Regulation D (or in respect of any   other category of liabilities that includes deposits by reference to which the interest rate   on Eurocurrency Loans is determined or any category of extensions of credit or other   assets that include loans by non-United States offices of any Lender to United States   residents), subject to any amendments of such reserve requirement by such Board or its   successor, taking into account any transitional adjustments thereto.  For purposes of this   definition, the Eurocurrency Loans shall be deemed to be “eurocurrency liabilities” as     

 

   -28-   defined in such Regulation D without benefit or credit for any prorations, exemptions or   offsets under such Regulation D.   “Administrative Agent” means Bank of Montreal and any successor pursuant to   Section 10.7 hereof.   “Administrative Questionnaire” means an administrative questionnaire in a form   supplied by the Administrative Agent.   “Affected Lender” is defined in Section 1.14 hereof.   “Affiliate” means, as to any Person, any other Person which directly or indirectly   controls, or is under common control with, or is controlled by, such Person.  As used in this   definition, “control” (including, with their correlative meanings, “controlled by” and “under   common control with”) means possession, directly or indirectly, of power to direct or cause the   direction of management or policies of a Person (whether through ownership of securities or   partnership or other ownership interests, by contract or otherwise); provided that, in any event   for purposes of this definition:  (i) any Person which owns directly or indirectly 10% or more of   the securities having ordinary voting power for the election of directors or other governing body   of a corporation or 10% or more of the partnership or other ownership interests of any other   Person (other than as a limited partner of such other Person) will be deemed to control such   corporation or other Person; and (ii) each director and executive officer of the Parent or any   Subsidiary shall be deemed an Affiliate of the Parent and each Subsidiary. Notwithstanding the   foregoing, in relation to The Royal Bank of Scotland plc, the term “Affiliate” shall not include   (i) the UK government or any member or instrumentality thereof, including Her Majesty's   Treasury and UK Financial Investments Limited (or any directors, officers, employees or entities   thereof) or (ii) any persons or entities controlled by or under common control with the UK   government or any member or instrumentality thereof (including Her Majesty's Treasury and UK   Financial Investments Limited) and which are not part of The Royal Bank of Scotland Group plc   and its subsidiaries or subsidiary undertakings.   “Agreement” means this Second Amended and Restated Multicurrency Credit   Agreement, as the same may be amended, modified, restated or supplemented from time to time   pursuant to the terms hereof.   “Alternative Currency” means any of Australian Dollars, Canadian Dollars, Euros, Hong   Kong Dollars, Japanese Yen, Pound Sterling, and Swiss Francs, and any other currency approved   by all the Lenders, in each case for so long as such currency is readily available to all the   Lenders and is freely transferable and freely convertible to U.S. Dollars and the Reuters Monitor   Money Rates Service (or any successor thereto or other service designated by the Administrative   Agent) reports a LIBOR or applicable Currency Rate (or other benchmark designated by the   Administrative Agent) for such currency for interest periods of one, two, three and six calendar   months; provided that if any Lender provides written notice to the Borrower (with a copy to the   Administrative Agent) that any currency control or other exchange regulations are imposed in   the country in which any such Alternative Currency is issued and that in the reasonable opinion   of such Lender funding a Loan in such currency is impractical, then such currency shall cease to     

 

   -29-   be an Alternative Currency hereunder until such time as all the Lenders reinstate such country’s   currency as an Alternative Currency.   “AML Laws” means all laws, rules, and regulations of any jurisdiction applicable to the   Borrower, the Subsidiaries or any Guarantor from time to time concerning or relating to anti-   money laundering.   “Anti-Corruption Laws” means all laws, rules, and regulations of any jurisdiction   applicable to the Borrower, the Subsidiaries or any Guarantor from time to time concerning or   relating to bribery or corruption.   “Applicable Margin” means, on any date with respect to the Loans, Reimbursement   Obligations, and the Facility Fees and letter of credit fees payable under Section 2.1 hereof, the   rates per annum determined in accordance with the following schedule as in effect on such date   as determined pursuant to the provisions of the definition of Pricing Date:                  LEVEL      APPLICABLE MARGIN FOR   DOMESTIC RATE LOANS   AND REIMBURSEMENT   OBLIGATIONS         APPLICABLE MARGIN FOR   EUROCURRENCY LOANS   AND LETTER OF CREDIT   FEE                  FACILITY FEE   LEVEL I  0.000% 0.850% 0.100%   LEVEL II  0.000% 0.925% 0.125%   LEVEL III  0.100% 1.100% 0.150%   LEVEL IV 0.300% 1.300% 0.200%   LEVEL V 0.500% 1.500% 0.250%   LEVEL VI 0.750% 1.750% 0.300%   ; provided that from the Effective Date until the Pricing Date for the fiscal quarter of the Parent   ending June 30, 2016, the Borrower shall be in Level II.   “Application” is defined in Section 1.3(b) hereof.   “Approved Fund” means any Fund that is administered or managed by (a) a Lender,   (b) an Affiliate of a Lender or (c) an entity or an Affiliate of an entity that administers or   manages a Lender.   “Assignment and Acceptance” means an assignment and acceptance entered into by a   Lender and an Eligible Assignee (with the consent of any party whose consent is required by   Section 12.12 hereof), and accepted by the Administrative Agent, in substantially the form of   Exhibit G or any other form approved by the Administrative Agent.   “Authorized Representative” means those persons shown on the list of officers of the   Borrower or Parent provided by the Borrower pursuant to Section 6.1(i) hereof, or on any   updated such list provided by the Parent to the Administrative Agent, or any further or different     

 

   -30-   officer of the Borrower or Parent so named by any Authorized Representative of the Parent in a   written notice to the Administrative Agent.   “Bail-In Action” means the exercise of any Write-Down and Conversion Powers by the   applicable EEA Resolution Authority in respect of any liability of an EEA Financial Institution.   “Bail-In Legislation” means, with respect to any EEA Member Country implementing   Article 55 of Directive 2014/59/EU of the European Parliament and of the Council of the   European Union, the implementing law for such EEA Member Country from time to time which   is described in the EU Bail-In Legislation Schedule.   “Borrower” is defined in the introductory paragraph of this Agreement.   “Borrowing” means the total of Loans and Swingline Loans, as applicable, of a single   type advanced, continued for an additional Interest Period, or converted from a different type   into such type by the Lenders under a Facility on a single date and for a single Interest Period.    Borrowings of Loans are made and maintained ratably from each of the Lenders under a Facility   according to their Percentages of such Facility.  Borrowings of Swingline Loans are made by the   Swingline Lender in accordance with the procedures set forth in Section 1.2 hereof.  A   Borrowing is “advanced” on the day Lenders advance funds comprising such Borrowing to the   Borrower, is “continued” on the day a new Interest Period for the same type of Loans   commences for such Borrowing, and is “converted” on the day such Borrowing is changed from   one type of Loan to the other, all as requested by the Borrower pursuant to Section 1.6(a) hereof.   “Business Day” means any day other than a Saturday or Sunday on which Lenders are   not authorized or required to close in Chicago, Illinois and, if the applicable Business Day relates   to the borrowing or payment of a Eurocurrency Loan or a Letter of Credit denominated in an   Alternative Currency, on which banks are dealing in U.S. Dollar deposits or the relevant   Alternative Currency in the interbank market in London, England and, if the applicable Business   Day relates to the borrowing or payment of a Eurocurrency Loan denominated in an Alternative   Currency, on which banks and foreign exchange markets are open for business in the city where   disbursements of or payments on such Loan are to be made and, if such Alternative Currency is   the Euro or any national currency of a nation that is a member of the European Economic and   Monetary Union, which is a TARGET Settlement Day.   “Capital Lease” means, subject to Section 4.3, at any date any lease of Property which,   in accordance with GAAP, would be required to be capitalized on the balance sheet of the lessee.   “Capitalized Lease Obligations” means, subject to Section 4.3, for any Person, the   amount of such Person’s liabilities under Capital Leases determined at any date in accordance   with GAAP.   “Cash Collateralize” means, to pledge and deposit with or deliver to the Administrative   Agent, for the benefit of one or more of the L/C Issuers or Lenders, as collateral for   L/C Obligations or obligations of Lenders to fund participations in respect of L/C Obligations,   cash or deposit account balances subject to a first priority perfected security interest in favor of     

 

   -31-   the Administrative Agent or, if the Administrative Agent and the applicable L/C Issuer shall   agree in their sole discretion, other credit support, in each case pursuant to documentation in   form and substance satisfactory to the Administrative Agent and such L/C Issuer.  “Cash   Collateral” shall have a meaning correlative to the foregoing and shall include the proceeds of   such cash collateral and other credit support.   “Cash Flow Leverage Ratio” means as of the last day of any calendar quarter the ratio of   the Total Funded Debt as of such day to Adjusted EBITDA for the four calendar quarters then   ended.   “Cash Interest Coverage Ratio” means as of the last day of any calendar quarter the ratio   of Adjusted EBIT for the four calendar quarters then ended to Cash Interest Expense for the   same four (4) calendar quarters then ended.   “Cash Interest Expense” means, for any period, the sum of all cash interest charges of   the Parent and its Restricted Subsidiaries for such period determined on a consolidated basis in   accordance with GAAP.   “Change in Law” means the occurrence, after the date of this Agreement, of any of the   following: (a) the adoption or taking effect of any law, rule, regulation or treaty, (b) any change   in any law, rule, regulation or treaty or in the administration, interpretation, implementation or   application thereof by any Governmental Authority, or (c) the making or issuance of any request,   rule, guideline or directive (whether or not having the force of law) by any Governmental   Authority; provided that notwithstanding anything herein to the contrary, (x) the Dodd-Frank   Wall Street Reform and Consumer Protection Act and all requests, rules, regulations, guidelines   or directives thereunder or issued in connection therewith and (y) all requests, rules, guidelines   or directives promulgated by the Bank for International Settlements, the Basel Committee on   Banking Supervision (or any successor or similar authority) or United States or foreign   regulatory authorities, in each case pursuant to Basel III, shall in each case be deemed to be a   “Change in Law”, regardless of the date enacted, adopted or issued.   “Change of Control” means at any time:    (i) the Parent ceases to be the ultimate “beneficial owner” (as defined   in Rule 13d-3 under the Securities Exchange Act of 1934, as amended (the “Exchange   Act”)) of at least 99% of the total voting power of the Voting Stock of the Borrower;    (ii) any Person becomes the beneficial owner of securities of the   Parent representing 30% or more of the then outstanding Voting Stock of the Parent; or    (iii) during any period of twenty-four consecutive months beginning   after the Effective Date, individuals who at the beginning of such period constitute the   Board of Directors of the Parent (the “Board”), together with any new director (other   than a director designated by a person who has entered into an agreement with the Parent   to effect a transaction described in clause (ii) of this Change of Control definition) whose   election or nomination for election was approved by a vote of at least two-thirds of the     

 

   -32-   directors then still in office who either were directors at the beginning of the period or   whose election or nomination for election was previously so approved, cease for any   reason to constitute a majority of the Board.   For purposes of the definition of Change of Control, “Person” shall have the meaning   ascribed to such term in Section 3(a)(9) of the Exchange Act as supplemented by   Section 13(d)(3) of the Exchange Act; provided, however, that Person shall not include (i) the   Parent or any Wholly-Owned Subsidiary, or (ii) any Person who, as of the Effective Date, was   the beneficial owner of securities of the Parent representing 20% or more of the combined voting   power.   “Code” means the Internal Revenue Code of 1986, as amended and any successor statute   thereto.   “Compliance Certificate” means a certificate in the form of Exhibit D hereto.   “Consolidated Net Income” means, for any period, the net income (or net loss) of the   Parent, its Restricted Subsidiaries and the Mortgage Unrestricted Subsidiaries for such period   computed on a consolidated basis in accordance with GAAP, but excluding any extraordinary   profits or losses; provided that there shall be included in such determination for such period all   such amounts attributable to any Person acquired pursuant to an Acquisition to the extent such   Person is not subsequently sold or otherwise disposed of (other than in a transaction pursuant to   which the business of such Person is retained by the Parent or a Subsidiary of the Parent) during   such period for the portion of such period prior to such Acquisition; provided further that there   shall be excluded the income of any such consolidated Mortgage Unrestricted Subsidiary to the   extent that the declaration or payment of dividends or similar distributions of that income by   such consolidated subsidiary to a Restricted Subsidiary or the Parent is not at the time permitted   by operation of the terms of its charter or any agreement, instrument, judgment, decree, statute,   rule or governmental regulation applicable to such consolidated subsidiary.   “Contractual Obligation” means, as to any Person, any provision of any security issued   by such Person or of any agreement, instrument or undertaking to which such Person is a party or   by which it or any of its Property is bound.   “Controlled Group” means all members of a controlled group of corporations and all   trades and businesses (whether or not incorporated) under common control that, together with the   Parent or any of its Subsidiaries, are treated as a single employer under Section 414 of the Code.   “Credit Documents” means this Agreement, the Notes, the Applications, the Letters of   Credit and each Subsidiary Guarantee Agreement delivered to the Administrative Agent pursuant   to Section 7.21 hereof.   “Credit Event” means the advancing of any Loan or Swingline Loan, the continuation of   or conversion into a Eurocurrency Loan denominated in an Alternative Currency, or the issuance   of, or extension of the expiration date or increase in the amount of, any Letter of Credit.     

 

   -33-   “CRR” means the Council Regulation (EU) No 575/2013 of the European Parliament and   of the Council of 26 June 2013 on prudential requirements for credit institutions and investment   firms and amending Regulation (EU) No 648/2012.   “Currency Rate” means with respect to: (i) Australian Dollars, the rate per annum equal   to the Bank Bill Swap Reference Bid Rate (“BBSY”), (ii) Canadian Dollars, the rate per annum   equal to the Canadian Dealer Offered Rate (“CDOR”), as published on the applicable Reuters   Page; and (iii) Hong Kong Dollars, the rate per annum equal to the Hong Kong Interbank   Offered Rate (“HIBOR”), in each case as published on the applicable Reuters Page (or such   other commercially available source providing such quotations as may be designated by the   Administrative Agent from time to time) on the day and as of the time as is generally treated as   the rate fixing day and time by market practice in such interbank market, as determined by the   Administrative Agent  with a term equivalent to such Interest Period.   “Debtor Relief Laws” means the Bankruptcy Code of the United States of America, and   all other liquidation, conservatorship, bankruptcy, assignment for the benefit of creditors,   moratorium, rearrangement, receivership, insolvency, reorganization, or similar debtor relief   laws of the United States of America or other applicable jurisdictions from time to time in effect.   “Default” means any event or condition the occurrence of which would, with the passage   of time or the giving of notice, or both, constitute an Event of Default.   “Defaulting Lender” means, subject to Section 1.16(b) hereof, any Lender that (a) has   failed to (i) fund all or any portion of its Loans within two (2) Business Days of the date such   Loans were required to be funded hereunder unless such Lender notifies the Administrative   Agent and the Borrower in writing that such failure is the result of such Lender’s good faith   determination that one or more conditions precedent to funding (each of which conditions   precedent, together with any applicable default, shall be specifically identified in such writing)   has not been satisfied, or (ii) pay to the Administrative Agent, each L/C Issuer, the Swingline   Lender or any other Lender any other amount required to be paid by it hereunder (including in   respect of its participation in Letters of Credit or Swingline Loans) within two (2) Business Days   of the date when due, (b) has notified the Borrower, the Administrative Agent or any L/C Issuer   or the Swingline Lender in writing that it does not intend to comply with its funding obligations   hereunder, or has made a public statement to that effect (unless such writing or public statement   relates to such Lender’s obligation to fund a Loan hereunder and states that such position is   based on such Lender’s good faith determination that a condition precedent to funding (which   condition precedent, together with any applicable default, shall be specifically identified in such   writing or public statement) cannot be satisfied), (c) has failed, within three (3) Business Days   after written request by the Administrative Agent or the Borrower, to confirm in writing to the   Administrative Agent and the Borrower that it will comply with its prospective funding   obligations hereunder (provided that such Lender shall cease to be a Defaulting Lender pursuant   to this clause (c) upon receipt of such written confirmation by the Administrative Agent and the   Borrower), or (d) has, or has a direct or indirect parent company that has, at any time after the   Effective Date, other than via an Undisclosed Administration (i) become the subject of a   proceeding under any Debtor Relief Law, (ii) had appointed for it a receiver, custodian,   conservator, trustee, administrator, assignee for the benefit of creditors or similar Person charged     

 

   -34-   with reorganization or liquidation of its business or assets, including the Federal Deposit   Insurance Corporation or any other state, or federal or national regulatory authority acting in   such a capacity or (iii) become the subject of a Bail-In Action; provided that a Lender shall not   be a Defaulting Lender solely by virtue of the ownership or acquisition of any equity interest in   that Lender or any direct or indirect parent company thereof by a Governmental Authority so   long as such ownership interest does not result in or provide such Lender with immunity from   the jurisdiction of courts within the United States of America or from the enforcement of   judgments or writs of attachment on its assets or permit such Lender (or such Governmental   Authority) to reject, repudiate, disavow or disaffirm any contracts or agreements made with such   Lender.  Any determination by the Administrative Agent that a Lender is a Defaulting Lender   under clauses (a) through (d) above shall be conclusive and binding absent manifest error, and   such Lender shall be deemed to be a Defaulting Lender (subject to Section 1.16(b)) upon   delivery of written notice of such determination to the Borrower, each L/C Issuer, the Swingline   Lender and each Lender.   “Designated Disbursement Account” means the account of the Borrower maintained with   the Administrative Agent or its Affiliate and designated in writing to the Administrative Agent as   the Borrower’s Designated Disbursement Account (or such other account as the Borrower and   the Administrative Agent may otherwise agree).   “Domestic Rate” means, for any day, a rate per annum equal to the greatest of:      (i) the rate of interest announced or otherwise established by the Person   serving as Administrative Agent from time to time as its prime commercial rate, or its   equivalent, for U.S. Dollar loans to borrowers located in the United States as in effect on   such day, with any change in the Domestic Rate resulting from a change in said prime   commercial rate to be effective as of the date of the relevant change in said prime   commercial rate (it being acknowledged and agreed that such rate may not be such   Person’s best or lowest rate),     (ii) the sum of (A) the rate determined by the Administrative Agent to be the   average (rounded upward, if necessary, to the next higher 1/100 of 1%) of the rates per   annum quoted to the Administrative Agent at approximately 10:00 a.m. (Chicago time)   (or as soon thereafter as is practicable) on such day (or, if such day is not a Business Day,   on the immediately preceding Business Day) by two or more Federal funds brokers   selected by the Administrative Agent for sale to the Person serving as Administrative   Agent at face value of Federal funds in the secondary market in an amount equal or   comparable to the principal amount for which such rate is being determined, plus (B) 1/2   of 1%, and     (iii) the LIBOR Quoted Rate for such day plus 1.00%.  As used herein, the   term “LIBOR Quoted Rate” means, for any day, a rate per annum equal to the quotient of   (A) the higher of (a) the rate per annum (rounded upwards, if necessary, to the next   higher one hundred-thousandth of a percentage point) for deposits in U.S. Dollars for a   one-month interest period which appears on the LIBOR01 Page of the Reuters Service   (or any successor thereto or other service designated by the Administrative Agent) as of     

 

   -35-   11:00 a.m. (London, England time) on such day (or, if such day is not a Business Day, on   the immediately preceding Business Day) and (b) 0.00% divided by (B) one (1) minus the   Eurocurrency Reserve Percentage (calculated for this purpose as if each Domestic Rate   Loan were a Eurocurrency Loan).   “Domestic Rate Loan” means a Loan bearing interest prior to maturity at a rate specified   in Section 1.4(a) hereof.   “EEA Financial Institution” means (a) any credit institution or investment firm   established in any EEA Member Country which is subject to the supervision of an EEA   Resolution Authority, (b) any entity established in an EEA Member Country which is a parent of   an institution described in clause (a) of this definition, or (c) any financial institution established   in an EEA Member Country which is a subsidiary of an institution described in clauses (a) or (b)   of this definition and is subject to consolidated supervision with its parent.   “EEA Member Country” means any of the member states of the European Union,   Iceland, Liechtenstein, and Norway.   “EEA Resolution Authority” means any public administrative authority or any person   entrusted with public administrative authority of any EEA Member Country (including any   delegee) having responsibility for the resolution of any EEA Financial Institution.   “Effective Date” means the date of this Agreement or such later Business Day upon   which each condition described in Section 6.1 hereof shall be satisfied or waived in a manner   acceptable to the Administrative Agent in its discretion.   “Eligible Assignee” means (a) a Lender, (b) an Affiliate of a Lender, (c) an Approved   Fund, and (d) any other Person that is a Non-Public Lender (in the case of this clause (d))   approved by (i) the Administrative Agent, (ii) each L/C Issuer, (iii) the Swingline Lender, and   (iv) unless an Event of Default has occurred and is continuing, the Parent (each such approval   not to be unreasonably withheld or delayed and if it is delayed for more than five (5) Business   Days it is deemed to be given); provided that notwithstanding the foregoing, “Eligible Assignee”   shall not include a natural Person,  the Borrower or any Guarantor or any of the Parent’s   Affiliates or Subsidiaries.   “Environmental and Health Laws” means any and all federal, state, local and foreign   statutes, laws, regulations, ordinances, judgments, permits and other governmental rules or   restrictions relating to human health, safety (including without limitation occupational safety and   health standards), or the environment or to emissions, discharges or releases of pollutants,   contaminants, hazardous or toxic substances, wastes or any other controlled or regulated   substance into the environment, including without limitation ambient air, surface water, ground   water or land, or otherwise relating to the manufacture, processing, distribution, use, treatment,   storage, disposal, transport or handling of pollutants, contaminants, hazardous or toxic   substances, wastes or any other controlled or regulated substance or the clean-up or other   remediation thereof.     

 

   -36-   “ERISA” is defined in Section 5.8 hereof.   “EU Bail-In Legislation Schedule” means the EU Bail-In Legislation Schedule published   by the Loan Market Association (or any successor person), as in effect from time to time.   “Eurocurrency Loan” means a Loan bearing interest prior to maturity at the rate   specified in Section 1.4(b) hereof.   “Eurocurrency Reserve Percentage” is defined in the definition of “Adjusted LIBOR” in   this Section 4.1.   “Event of Default” means any of the events or circumstances specified in Section 8.1   hereof.   “Excess Interest” is defined in Section 12.24 hereof.   “Exchange Act” means the Securities Exchange Act of 1934, as amended.   “Existing Credit Agreement” is defined in the preliminary statement of this Agreement.   “Existing Letters of Credit” is defined in Section 1.3(a) hereof.   “Facility” means any of the Revolving Facility or any Term Facility.   “Facility Fee” is defined in Section 2.1 hereof.   “FATCA” means Sections 1471 through 1474 of the Code as of the date of this   Agreement (or any amended or successor version that is substantively comparable and not   materially more onerous to comply with), any current or future regulations or official   interpretations thereof and any agreements entered into pursuant to Section 1471(b)(1) of the   Code.   “Federal Funds Rate” means the fluctuating interest rate per annum described in part (A)   of clause (ii) of the definition of Domestic Rate.   “Fronting Exposure” means, at any time there is a Defaulting Lender, (a) with respect to   an L/C Issuer, such Defaulting Lender’s Revolver Percentage of the outstanding L/C Obligations   with respect to Letters of Credit issued by such L/C Issuer other than L/C Obligations as to   which such Defaulting Lender’s participation obligation has been reallocated to other Lenders or   Cash Collateralized by the Borrower or such Defaulting Lender in accordance with the terms   hereof, and (b) with respect to the Swingline Lender, such Defaulting Lender’s Revolver   Percentage of outstanding Swingline Loans made by the Swingline Lender other than Swingline   Loans as to which such Defaulting Lender’s participation obligation has been reallocated to other   Lenders or repaid in accordance with the terms hereof.     

 

   -37-   “Fund” means any Person (other than a natural person) that is (or will be) engaged in   making, purchasing, holding or otherwise investing in commercial loans and similar extensions   of credit in the ordinary course of its business.   “GAAP” means generally accepted accounting principles set forth from time to time in   the opinions and pronouncements of the Accounting Principles Board and the American Institute   of Certified Public Accountants and statements and pronouncements of the Financial Accounting   Standards Board (or agencies with similar functions of comparable stature and authority within   the U.S. accounting profession), which are applicable to the circumstances as of the date of   determination.   “Governmental Authority” means the government of the United States of America or any   other nation, or of any political subdivision thereof, whether state or local, and any agency,   authority, instrumentality, regulatory body, court, central bank or other entity exercising   executive, legislative, judicial, taxing, regulatory or administrative powers or functions of or   pertaining to government (including any supra‐national bodies such as the European Union or   the European Central Bank).   “Guarantor” means (i) the Parent, Jones Lang LaSalle Americas, Inc., a Maryland   corporation, LaSalle Investment Management, Inc., a Maryland corporation, Jones Lang LaSalle   International, Inc., a Delaware corporation, Jones Lang LaSalle Co-Investment, Inc., a Maryland   corporation, Jones Lang LaSalle Limited, a company organized under the laws of England and   Wales, Jones Lang LaSalle GmbH, a company organized under the laws of Germany, Jones   Lang LaSalle New England, LLC, a Delaware limited liability company, Jones Lang LaSalle   Brokerage, Inc., a Texas corporation, or, in each case other than the Parent, its permitted   successors and assigns and (ii) any other Subsidiary of the Borrower designated by the Borrower   as a Guarantor as required by Section 7.21 hereof.   “Guaranty” by any Person means (without duplication) all obligations (other than   endorsements in the ordinary course of business of negotiable instruments for deposit or   collection) of such Person guaranteeing or in effect guaranteeing any Indebtedness, dividend or   other financial obligation (including, without limitation, limited or full recourse obligations in   connection with sales of receivables or any other Property) of any other Person (the “primary   obligor”) in any manner, whether directly or indirectly, including, without limitation, all   obligations incurred through an agreement, contingent or otherwise, by such Person:  (i) to   purchase such Indebtedness or obligation or any Property or assets constituting security therefor,   (ii) to advance or supply funds (x) for the purchase or payment of such Indebtedness or   obligation, or (y) to maintain working capital or other balance sheet condition, or otherwise to   advance or make available funds for the purchase or payment of such Indebtedness or obligation,   (iii) to lease property or to purchase Securities or other property or services primarily for the   purpose of assuring the owner of such Indebtedness or obligation of the ability of the primary   obligor to make payment of the Indebtedness or obligation, or (iv) otherwise to assure the owner   of the Indebtedness or obligation of the primary obligor against loss in respect thereof.  For the   purpose of all computations made under this Agreement, the amount of a Guaranty in respect of   any obligation shall be deemed to be equal to the maximum aggregate amount of such obligation   at the time the amount of the Guaranty is being determined or, if the Guaranty is limited to less     

 

   -38-   than the full amount of such obligation, the maximum aggregate potential liability under the   terms of the Guaranty at the time the amount of the Guaranty is being determined.   “Hazardous Material” means any substance or material which is hazardous or toxic, and   includes, without limitation, (a) asbestos, polychlorinated biphenyls, dioxins and petroleum or its   by-products or derivatives (including crude oil or any fraction thereof) and (b) any other material   or substance classified or regulated as “hazardous” or “toxic” pursuant to any Environmental and   Health Law.   “Increase” is defined in Section 1.15 hereof.   “Increase Request” means an Increase Request substantially in the form attached hereto   as Exhibit F or in such other form acceptable to the Administrative Agent.   “Incremental Amendment” is defined in Section 1.15 hereof.   “Indebtedness” means for any Person (without duplication), (i) obligations of such   Person for borrowed money, (ii) obligations of such Person representing the deferred purchase   price of property or services other than accounts payable and other accrued liabilities arising in   the ordinary course of business on terms customary in the trade and other than deferred   employee, officer or director compensation, (iii) obligations of such Person evidenced by notes,   acceptances, or other instruments of such Person or pursuant to letters of credit issued for such   Person’s account, (iv) obligations, whether or not assumed, secured by Liens or payable out of   the proceeds or production from Property now or hereafter owned or acquired by such Person,   (v) Capitalized Lease Obligations of such Person, and (vi) obligations for which such Person is   obligated pursuant to a Guaranty.  For the sake of clarity, (i) performance guarantees (other than   guarantees of the payment of Indebtedness), performance and surety bonds and environmental,   “bad boy” and completion guarantees provided by the Borrower, the Parent, or any Subsidiary,   (ii) pension liabilities of the Parent or any Subsidiary, (iii) indebtedness consolidated onto the   books and records of the Parent for GAAP purposes under Accounting Standards Codification   Topic 810 (formerly referred to as EITF 04-05 and FIN 46R) or any successor standard which   otherwise would not be consolidated, and (iv) earn-outs or other earned deferred payment   obligations incurred in connection with Permitted Acquisitions, if measured in whole or in part   by events or performance occurring after the purchase, to the extent either (i) such obligations   are contingent and remain contingent under the purchase agreement for such Permitted   Acquisition or (ii) such obligations have become fixed and are due and payable no later than   sixty (60) days after such obligations have become fixed, in each case, shall not be considered as   Indebtedness.   “Interest Expense” means, for any period, the sum of all interest charges of the Parent   and its Restricted Subsidiaries for such period determined on a consolidated basis in accordance   with GAAP.   “Interest Period” is defined in Section 1.7 hereof.     

 

   -39-   “ISP” means, with respect to any Letter of Credit, the “International Standby Practices   1998” published by the Institute of International Banking Law & Practice, Inc. (or such later   version thereof as may be in effect at the time of issuance).   “L/C Documents” means the Letters of Credit, any draft or other document presented in   connection with a drawing thereunder, the Applications and this Agreement.   “L/C Issuer” means (a) with respect to Letters of Credit issued hereunder on or after the   Effective Date, (i) each of Bank of Montreal and Bank of America, N.A. and (ii) any other   Lender to the extent it has agreed in its sole discretion to act as an “L/C Issuer” hereunder and   that has been approved in writing by the Parent and the Administrative Agent (such approval by   the Administrative Agent not to be unreasonably delayed or withheld) as an “ L/C Issuer”   hereunder, in each case in its capacity as issuer of any Letter of Credit and (b) with respect to the   Existing Letters of Credit, Bank of Montreal and BMO Harris Bank N.A. in their respective   capacity as issuer thereof.  Any L/C Issuer may, in its discretion, arrange for one or more Letters   of Credit to be issued by Affiliates of such L/C Issuer, in which case the term “L/C Issuer” shall   include any such Affiliate with respect to Letters of Credit issued by such Affiliate.   “L/C Obligations” means the aggregate U.S. Dollar Equivalent of the undrawn face   amounts of all outstanding Letters of Credit and all unpaid Reimbursement Obligations.  For   purposes of computing the amount available to be drawn under any Letter of Credit, the amount   of such Letter of Credit shall be determined in accordance with Section 4.5 hereof.  For all   purposes of this Agreement, if on any date of determination a Letter of Credit has expired by its   terms but any amount may still be drawn thereunder by reason of the operation of Rule 3.14 of   the ISP, such Letter of Credit shall be deemed to be “outstanding” in the amount so remaining   available to be drawn.   “L/C Sublimit” means an aggregate amount equal to the lesser of (a) $100,000,000 (or   such higher amount not in excess of $150,000,000 in the aggregate as the L/C Issuers and the   Administrative Agent may agree in their sole discretion) and (b) the aggregate amount of the   L/C Issuers’ Letter of Credit Commitments at such time, as such amount may be reduced   pursuant to the terms hereof.  The Letter of Credit Sublimit is part of, and not in addition to, the   Revolving Facility.   “LCA Test Date” is defined in Section 4.4 hereof.   “Lenders” means and includes the financial institutions from time to time party to this   Agreement, including each assignee Lender pursuant to Section 12.12 hereof and each Lender   that becomes a party hereto pursuant to Section 1.15 hereto and, unless the context otherwise   requires, the Swingline Lender.   “Lending Office” is defined in Section 9.4 hereof.   “Letter of Credit” is defined in Section 1.3(a) hereof.     

 

   -40-   “Letter of Credit Commitment” means, as to any L/C Issuer at any time, (a) the amount   set forth opposite such L/C Issuer’s name on Schedule 1 under the caption “Letter of Credit   Commitment” or (b) for any other L/C Issuer becoming an L/C Issuer after the Closing Date,   such amount as separately agreed to in a written agreement between the Parent and such   L/C Issuer (which such agreement shall be promptly delivered to the Administrative Agent upon   execution), in each case of clauses (a) and (b) above, any such amount may be changed after the   Closing Date in a written agreement between the Parent and such L/C Issuer (which such   agreement shall be promptly delivered to the Administrative Agent upon execution), as such   amount may be adjusted from time to time in accordance with this Agreement; provided that the   Letter of Credit Commitment with respect to any Person that ceases to be an L/C Issuer for any   reason pursuant to the terms hereof shall be $0 (subject to the Letters of Credit of such Person   remaining outstanding in accordance with the provisions hereof).   “Level I” exists at any date if, at such date, the Cash Flow Leverage Ratio is less than   1.50 to 1.00.   “Level II” exists at any date if, at such date, Level I does not exist and the Cash Flow   Leverage Ratio is less than 2.00 to 1.00.   “Level III” exists at any date if, at such date, neither Level I nor Level II exists and the   Cash Flow Leverage Ratio is less than 2.50 to 1.00.   “Level IV” exists at any date if, at such date, neither Level I, Level II nor Level III exists   and the Cash Flow Leverage Ratio is less than 3.00 to 1.00.   “Level V” exists at any date if, at such date, neither Level I, Level II, Level III nor   Level IV exists and the Cash Flow Leverage Ratio is less than 3.50 to 1.00.   “Level VI” exists at any date if, at such date, none of Level I, Level II, Level III,   Level IV or Level V exists.   “LIBOR” is defined in the definition of “Adjusted LIBOR” in this Section 4.1.   “Lien” means any interest in Property securing an obligation owed to a Person other than   the owner of the Property, whether such interest is based on the common law, statute or contract,   including, but not limited to, the security interest lien arising from a mortgage, encumbrance,   pledge, conditional sale, security agreement or trust receipt, or a lease, consignment or bailment   for security purposes.  The term “Lien” shall also include survey exceptions or encumbrances,   easements or reservations, or rights of others for rights-of-way, utilities and other similar   purposes, or zoning or other restrictions as to the use of real properties.  For the purposes of this   definition, a Person shall be deemed to be the owner of any Property which it has acquired or   holds subject to a conditional sale agreement, Capital Lease or other arrangement pursuant to   which title to the Property has been retained by or vested in some other Person for security   purposes, and such retention of title shall constitute a “Lien.”     

 

   -41-   “Limited Condition Acquisition” means a Permitted Acquisition by the Parent or one or   more of its Subsidiaries whose consummation is not conditioned on the availability of, or on   obtaining, third party financing and which is designated as a Limited Condition Acquisition by   the Parent in writing to the Administrative Agent on or prior to the date the definitive agreements   for such acquisition are entered into.   “Loan” means any Revolving Loan, Term Loan or Swingline Loan, whether outstanding   as a Domestic Rate Loan or Eurocurrency Loan, each of which is a “type” of Loan hereunder.   “Material Acquisition” means any Acquisition that involves aggregate consideration   (including cash, equity, purchase price adjustments (but excluding earn-out or similar payments),   Indebtedness or liabilities incurred or assumed, and all transaction costs) in excess of   $250,000,000.   “Material Adverse Effect” means a material and adverse effect on (i) the business,   operations, Property or financial or other condition of the Parent and its Subsidiaries, taken as a   whole, (ii) the ability of the Parent or Borrower to perform any of its payment obligations under   this Agreement, or (iii) the  rights, remedies and benefits available to, or conferred upon, the   Administrative Agent or any Lender under any Credit Document.   “Material Subsidiary” means any Subsidiary that as of the date of determination has   (a) revenues in excess of 5% of the consolidated revenue of the Parent and its Restricted   Subsidiaries for the period of the four fiscal quarters most recently ended for which the Parent   has delivered financial statements pursuant to Section 7.06(a)(i) or (ii) hereof, or (b) property   with an aggregate fair market value in excess of 5% of the book value of the total consolidated   assets of the Parent and its Restricted Subsidiaries at the end of such period.   “Maximum Rate” is defined in Section 12.24 hereof.   “Minimum Collateral Amount” means, at any time, (a) with respect to Cash Collateral   consisting of cash or deposit account balances, an amount equal to 105% of the Fronting   Exposure of each L/C Issuer with respect to Letters of Credit issued and outstanding at such time   and (b) otherwise, an amount determined by the Administrative Agent and each L/C Issuer in   their sole discretion.   “Mortgage Unrestricted Subsidiary” means Jones Lang LaSalle Multifamily LLC, its   successors and its subsidiaries and any entity (and its subsidiaries) purchased, acquired or formed   by the Parent or a Subsidiary that engages in the loan origination or servicing business or   becomes an originator of mortgage loans under the Federal National Mortgage Association,   Federal Housing Administration or other quasi-governmental agency program, in each case so   long as the obligations of such Person are non-recourse to the Parent or any Restricted   Subsidiary.   “Net Cash Flow Leverage Ratio” means as of the last day of any calendar quarter the   ratio of the Total Funded Debt as of such day minus Qualified Cash to Adjusted EBITDA for the   four calendar quarters then ended.     

 

   -42-   “Net Cash Flow Leverage Ratio Increase” is defined in Section 7.15 hereof.   “New Term Loan” is defined in Section 1.15 hereof.   “Non-Public Lender” means (i) until the publication of an interpretation of “public” as   referred to in the CRR by the competent authority/ies: an entity which (x) assumes rights and/or   obligations vis-à-vis the Borrower, the value of which is at least EUR 100,000 (or its equivalent   in any other currency), (y) provides repayable funds for an initial amount of at least EUR   100,000 (or its equivalent in any other currency) or (z) otherwise qualifies as not forming part of   the public; and (ii) as soon as the interpretation of the term "public" as referred to in the CRR has   been published by the relevant authority/ies:  an entity which is not considered to form part of   the public on the basis of such interpretation.   “Note” means any promissory note issued at the request of a Lender pursuant to   Section 1.11 hereof in the form of Exhibit C-1 evidencing such Lender’s Revolving Loans,   Exhibit C-2 evidencing the Swingline Lender’s Swingline Loans or Exhibit C-3 evidencing such   Lender’s Term Loans.   “Obligations” means all fees payable hereunder, all obligations of the Borrower to pay   principal or interest on Loans, Swingline Loans and L/C Obligations, and all other payment   obligations of the Borrower or any Guarantor arising under or in relation to any Credit   Document.   “OFAC” means the United States Department of Treasury Office of Foreign Assets   Control.   “OFAC Event” means the event specified in Section 7.23 hereof.   “OFAC SDN List” means the list of the Specially Designated Nationals and Blocked   Persons maintained by OFAC.   “Original Dollar Amount” means the amount of any Obligation denominated in U.S.   Dollars and, in relation to any Loan denominated in an Alternative Currency, the U.S. Dollar   Equivalent of such Loan on the day it is advanced or continued for an Interest Period.   “Parent” means Jones Lang LaSalle Incorporated, a Maryland corporation.   “Participant Register” is defined in Section 12.11 hereof.   “Participating Lender” is defined in Section 1.3(d) hereof.   “Participating Interest” is defined in Section 1.3(d) hereof.   “PBGC” is defined in Section 5.8 hereof.     

 

   -43-   “Percentage” means for any Lender its Revolver Percentage and each Term Loan   Percentage, as applicable; and where the term “Percentage” is applied on an aggregate basis,   such aggregate percentage shall be calculated by aggregating the separate components of the   Revolver Percentage and each Term Loan Percentage, and expressing such components on a   single percentage basis.   “Permitted Acquisition” means any Acquisition in a line of business related to that of the   Parent and its Subsidiaries with respect to which all of the following conditions shall have been   satisfied:    (a) the Board of Directors or other governing body or the holders of 100%, or   such other percentage as may be required by the applicable governing documents, of the   equity interests of the Person whose Property, or Voting Stock or other interests in which,   are being so acquired has approved the terms of such Acquisition; and    (b) after giving effect to such Acquisition and any Credit Event in connection   therewith, no Default or Event of Default shall exist, including with respect to the   financial covenants contained in Sections 7.15 and 7.16 hereof on a pro forma basis and,   in the case of a Material Acquisition, the Parent shall have delivered to the   Administrative Agent evidence reasonably satisfactory to the Administrative Agent   (which evidence shall be substantially in the form of a Compliance Certificate or such   other form reasonably satisfactory to the Administrative Agent) certifying to the   foregoing; provided that with respect to a Limited Condition Acquisition, such   requirements shall be subject to the provisions of Section 4.4 hereof.   “Permitted Adjustments” means, for any period, and without duplication, (i) cash and   non-cash restructuring expenses incurred by the Parent or any Restricted Subsidiaries during   such period that are directly attributable to identified restructuring initiatives, to the extent such   cash restructuring charges do not exceed $100,000,000 in the aggregate for all periods from and   after April 1, 2016, (ii) deferred commissions earned and received in cash by any Person   acquired pursuant to an Acquisition (net of commissions payable) for transactional activity, to   the extent such activity was completed prior to the acquisition of such Person by the Parent or a   Restricted Subsidiary and not previously recognized as revenue by the Parent or its Restricted   Subsidiaries, not to exceed $50,000,000 for any four consecutive fiscal quarter period or   $100,000,000 in the aggregate for all periods from and after April 1, 2016, (iii) impairment and   other non-cash charges related to direct or indirect co-investments in real estate or real estate   related assets, including notes and other securities, of the Parent and its Restricted Subsidiaries   funded prior to April 1, 2016, not to exceed $50,000,000 in the aggregate for all periods from   and after April 1, 2016, (iv) non-cash charges arising from the impairment of goodwill or other   intangible assets in accordance with and as required by FASB Accounting Standards   Codification Topic 350 (formerly SFAS 142) under GAAP or any successor standard,   (v) acquisition, integration and transition charges (including costs for client or investor consents   treated as an expense or reduction of revenue rather than purchase price) directly related to any   Permitted Acquisition pursued or closed on or after July 1, 2015 to the extent such charges or   reduction of revenue do not exceed $400,000,000 in the aggregate for all such Permitted   Acquisitions for all periods from and after April 1, 2016, (vi) the subtraction of non-cash gains or     

 

   -44-   the addition of non-cash losses relating to (a) changes in the mark-to-market value of   co-investments described above and earn-outs and (b) mortgage servicing rights, (vii) any   non-recurring fees, expenses or charges paid in connection with debt or equity financing   activities, and (viii) the aggregate amount of write-downs of tax indemnification assets to the   extent a tax reserve related to such tax indemnification is released.   “Person” means an individual, partnership, corporation, limited liability company,   association, trust, unincorporated organization or any other entity or organization, including a   government or any agency or political subdivision thereof.   “Plan” means at any time an employee pension benefit plan covered by Title IV of   ERISA or subject to the minimum funding standards under Section 412 of the Code that is either   (i) maintained by a member of the Controlled Group or (ii) maintained pursuant to a collective   bargaining agreement or any other arrangement under which more than one employer makes   contributions and to which a member of the Controlled Group is then making or accruing an   obligation to make contributions or has within the preceding five plan years made contributions.   “Platform” is defined in Section 12.8(d) hereof.   “Pricing Date” means, for any fiscal quarter of the Parent ended after the date hereof, the   latest date by which the Parent is required to deliver a Compliance Certificate for such fiscal   quarter pursuant to Section 7.6(b) hereof.  Except as provided in the immediately following two   sentences, the Applicable Margin established on a Pricing Date shall remain in effect until the   next Pricing Date.  If the Parent has not delivered a Compliance Certificate by the date such   Compliance Certificate is required to be delivered under Section 7.6(b) hereof, Level V shall be   deemed to exist from such required delivery date until a Compliance Certificate is delivered   before the next Pricing Date.  If the Parent subsequently delivers such a Compliance Certificate   before the next Pricing Date, the Applicable Margin established by such late delivered   Compliance Certificate shall take effect from the date of delivery until the next Pricing Date.  In   all other circumstances, the Applicable Margin established by a Compliance Certificate shall be   in effect from the Pricing Date that occurs immediately after the end of the Parent’s fiscal quarter   covered by such Compliance Certificate until the next Pricing Date.   “Priority Debt” means, as of any date, the sum (without duplication) of the outstanding   Indebtedness of the Parent and its Restricted Subsidiaries secured by any Liens.   “Property” means any interest in any kind of property or asset, whether real, personal or   mixed, or tangible or intangible, whether now owned or hereafter acquired.   “Qualified Cash” means as of the last day of any calendar quarter the sum of: (i) the   lesser of (A) $100,000,000 and (B) the sum of (I) Unrestricted Cash owned by the Borrower or   any Guarantor and maintained in an account in the United States and (II) 75% of Unrestricted   Cash maintained in a jurisdiction outside the United States and (ii) the proceeds of indebtedness   (including the Loans) incurred for the purpose of funding a Permitted Acquisition which are held   in a segregated or restricted account solely (i) for the purpose of funding the purchase price of     

 

   -45-   such Permitted Acquisition (together with any related fees or expenses) or (ii) for the benefit of   the lenders of such indebtedness.   “Quoted Rate” is defined in Section 1.2(c) hereof.   “Register” is defined in Section 12.12(b) hereof.   “Reimbursement Obligation” is defined in Section 1.3(c) hereof.   “Related Indemnitee” is defined in Section 12.15 hereof.   “Removal Effective Date” is defined in Section 10.7(b) hereof.   “Required Lenders” means, as of the date of determination thereof, Lenders having Total   Credit Exposures representing more than 50% of the Total Credit Exposures of all Lenders.  To   the extent provided in the last paragraph of Section 12.13, the Total Credit Exposure of any   Defaulting Lender shall be disregarded in determining Required Lenders at any time.   “Required Revolving Lenders” means, at any time, Lenders having Revolving Credit   Exposures representing more than 50% of the total Revolving Credit Exposures of all Lenders.    To the extent provided in the last paragraph of Section 12.13 hereof, the Revolving Credit   Exposure of any Defaulting Lender shall be disregarded in determining Required Revolving   Lenders at any time.   “Resignation Effective Date” is defined in Section 10.7(a) hereof.   “Responsible Officer” means the chief executive officer, president, any vice president,   chief financial officer, treasurer or assistant treasurer, or other similar officer or any Authorized   Representative of the Borrower or any Guarantor.   “Restricted Subsidiary” means any Subsidiary of the Parent other than an Unrestricted   Subsidiary.   “Revaluation Date” means, with respect to any Letter of Credit denominated in an   Alternative Currency, (a) the date of issuance thereof, (b) the date of each amendment thereto   having the effect of increasing the amount thereof, (c) the last day of each calendar month, and   (d) each additional date as the Administrative Agent or the Required Lenders shall specify.   “Revolving Facility” means the credit facility for making Revolving Loans and   Swingline Loans and issuing Letters of Credit described in Sections 1.1, 1.2 and 1.3 hereof.   “Revolver Percentage” means, for each Lender, the percentage of the Revolving Credit   Commitments represented by such Lender’s Revolving Credit Commitment or, if the Revolving   Credit Commitments have been terminated, the percentage of the total Revolving Credit   Exposure then outstanding held by such Lender.     

 

   -46-   “Revolving Credit” means the credit facility for making Revolving Loans and Swingline   Loans and issuing Letters of Credit described in Sections 1.1, 1.2 and 1.3 hereof.   “Revolving Credit Exposure” means, as to any Lender at any time, the sum of the   (i) aggregate Original Dollar Amount of its outstanding Revolving Loans, (ii) the aggregate   Original Dollar Amount of such Lender’s participation in Swingline Loans, and (iii) the   aggregate U.S. Dollar Equivalent of such Lender’s participation in all L/C Obligations at any   time outstanding at such time.   “Revolving Credit Commitment” means, as to any Lender, the obligation of such Lender   to make Revolving Loans and to participate in Swingline Loans and Letters of Credit hereunder   in an aggregate principal or face amount at any one time outstanding not to exceed the amount   set forth opposite such Lender’s name under the heading “Revolving Credit Commitment” on   Schedule 1 attached hereto and made a part hereof, as the same may be reduced or modified at   any time or from time to time pursuant to the terms hereof.  “Revolving Credit Commitments”   means the aggregate of each Lender’s Revolving Credit Commitment.   “Sanction Programs” means all laws, regulations, Executive Orders Economic U.S.   Financial sanctions or trade embargoes or restrictive measures enacted, imposed, administered or   enforced from time to time by (i) the U.S. Government, including OFAC, including without   limitation, the Bank Secrecy Act, anti-money laundering laws (including, without limitation, the   Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and   Obstruct Terrorism Act of 2001, Pub. L. 107-56 (a/k/a the USA Patriot Act)), and all economic   and trade sanction programs administered by OFAC, any and all similar United States federal   laws, regulations or Executive Orders, and any similar laws, regulators or orders adopted by any   State within the United States, (ii) the United Nations Security Counsel, (iii) the European Union   or any of its member states, (iv) Her Majesty’s Treasury, (v) Switzerland, or (vi) any other   relevant authority.    “Sanctioned Country” means, at any time, a country or territory which is, or whose   government is, the subject or target of any Sanctions broadly restricting or prohibiting dealings   with such country, territory or government (as of the Effective Date, Crimea, Cuba, Iran, North   Korea, Sudan, and Syria).   “Sanctioned Person” means, at any time, any Person with whom dealings are restricted   or prohibited under Sanctions, including (a) any Person listed in any Sanctions-related list of   designated Persons maintained by the United States (including by OFAC, the U.S. Department of   State, or the U.S. Department of Commerce), the United Nations Security Council, the European   Union or any of its member states, Her Majesty’s Treasury, Switzerland or any other relevant   authority, (b) any Person located, organized or resident in, or any government or Governmental   Authority of, a Sanctioned Country or (c) any Person 50% or more owned by any Person   described in clauses (a) or (b) hereof.   “Sanctions” means economic or financial sanctions or trade embargoes or restrictive   measures enacted, imposed, administered or enforced from time to time by:  (a) the U.S.   government, including those administered by the Office of Foreign Assets Control of the U.S.     

 

   -47-   Department of the Treasury, the U.S. Department of State, or the U.S. Department of Commerce;   (b) the United Nations Security Council; (c) the European Union or any of its member states; (d)   Her Majesty’s Treasury; (e) Switzerland; or (f) any other relevant authority.   “SEC” means the Securities and Exchange Commission.   “Security” has the same meaning as in Section 2(l) of the Securities Act of 1933, as   amended.   “Set-Off” is defined in Section 12.7 hereof.   “Subsidiary” means a corporation, partnership or other entity that, under GAAP, is   included in the consolidated financial statements of the Parent.   “Subsidiary Guarantee Agreement” means a letter to the Administrative Agent in the   form of Exhibit E hereto executed by a Subsidiary whereby it acknowledges it is party hereto as   a Guarantor under Section 11 hereof.   “Swingline” means the credit facility for making one or more Swingline Loans described   in Section 1.2 hereof.   “Swingline Lender” means Bank of Montreal acting in its capacity as the lender of   Swingline Loans hereunder, or any successor Lender acting in such capacity appointed pursuant   to Section 12.12 hereof.   “Swingline Sublimit” means $100,000,000 as the same may be reduced from time to time   pursuant to Section 1.13 hereof.   “Swingline Loan” is defined in Section 1.2 hereof.   “TARGET Settlement Day” means any day on which the Trans-European Automated   Real-Time Gross Settlement Express Transfer (TARGET) System is open.    “Term Loan Facility” means each Term Loan Facility, if any; and “Term Loan   Facilities” means all Term Loan Facilities.   “Term Loans” means and includes each Term Loan advanced pursuant to Section 1.15   hereof.   “Termination Date” means June 21, 2021.   “Total Credit Exposure” means, as to any Lender at any time, the unused Revolving   Credit Commitments, Revolving Credit Exposure and outstanding Term Loans of such Lender at   such time.     

 

   -48-   “Total Funded Debt” means, at any time the same is to be determined, the aggregate of   all Indebtedness of the Parent and its Restricted Subsidiaries determined without duplication on a   consolidated basis minus (i) the aggregate stated amount of performance letters of credit issued   for the account of the Parent or any Restricted Subsidiary other than any such Letter of Credit   issued hereunder and (ii) the aggregate principal amount of debt for borrowed money owed by   the Parent or any Restricted Subsidiary under overdraft facilities but only to the extent of cash   held by the Parent and its Restricted Subsidiaries on a consolidated basis.   “Undisclosed Administration” means in relation to a Lender or its direct or indirect   parent company or other affiliate that exercises control over it, the appointment of an   administrator, provisional liquidator, conservator, receiver, trustee, custodian or other similar   official by a supervisory authority or regulator under or based on the law in the country where   such person is subject to home jurisdiction supervision if applicable law requires that such   appointment is not to be publicly disclosed.   “Unfunded Vested Liabilities” means, with respect to any Plan at any time, the amount   (if any) by which (i) the present value of all vested nonforfeitable accrued benefits under such   Plan exceeds (ii) the fair market value of all Plan assets allocable to such benefits, all determined   as of the then most recent valuation date for such Plan, but only to the extent that such excess   represents a potential liability of a member of the Controlled Group to the PBGC or the Plan   under Title IV of ERISA.   “Unrestricted Cash” means cash or cash equivalents of the Parent or any Restricted   Subsidiary that (a) do not appear (or would not be required to appear) as “restricted” on a   consolidated balance sheet of the Parent, (b) are not subject to a Lien (other than Liens of the   type described in Section 7.9(f) and (c) in the case of cash and cash equivalents held in an   account outside the United States, is not prohibited by applicable law or binding contractual   agreement from being repatriated to the Borrower or Parent.   “Unrestricted Subsidiary” means (i) each Mortgage Unrestricted Subsidiary and (ii) any   Subsidiary of the Parent (other than a Guarantor or the Borrower) which (a) is established for the   sole purpose of investing in real estate and real estate related assets including notes and other   securities and (b) is designated by the Parent (with prior written notice to the Administrative   Agent) to be an Unrestricted Subsidiary; provided that except for the Mortgage Unrestricted   Subsidiaries, no Subsidiary may be an Unrestricted Subsidiary for more than 180 days.   “Unused Revolving Credit Commitments” means, at any time, the difference between the   Revolving Credit Commitments then in effect and the aggregate outstanding Original Dollar   Amount of all Revolving Loans, and the U.S. Dollar Equivalent of all L/C Obligations.   “U.S. Dollars” and “$” each means the lawful currency of the United States of America.   “U.S. Dollar Equivalent” means (a) the amount of any Obligation or Letter of Credit   denominated in U.S. Dollars, (b) in relation to any Obligation or Letter of Credit denominated in   a currency other than U.S. Dollars, the amount of U.S. Dollars which would be realized by   converting such other currency into U.S. Dollars at the exchange rate quoted to the     

 

   -49-   Administrative Agent, at approximately 11:00 a.m. (London time) three Business Days prior (i)   to the date on which a computation thereof is required to be made and (ii) in the case of   L/C Obligations, on any Revaluation Date, in each case by major banks in the interbank foreign   exchange market for the purchase of U.S. Dollars for such other currency.   “Voting Stock” of any Person means capital stock of any class or classes or other equity   interests (however designated) having ordinary voting power for the election of directors or   similar governing body of such Person, other than stock or other equity interests having such   power only by reason of the happening of a contingency.   “Welfare Plan” means a “welfare plan”, as defined in Section 3(1) of ERISA.   “Wholly-Owned” when used in connection with any Subsidiary of the Parent means a   Subsidiary of which all of the issued and outstanding shares of stock or other equity interests   (other than directors’ qualifying shares as required by law) shall be owned by the Parent and/or   one or more of its Wholly-Owned Subsidiaries.   “Write-Down and Conversion Powers” means, with respect to any EEA Resolution   Authority, the write-down and conversion powers of such EEA Resolution Authority from time   to time under the Bail-In Legislation for the applicable EEA Member Country, which write-   down and conversion powers are described in the EU Bail-In Legislation Schedule.    Section 4.2. Interpretation.  The foregoing definitions shall be equally applicable to both   the singular and plural forms of the terms defined.  The words “hereof”, “herein”, and   “hereunder” and words of like import when used in this Agreement shall refer to this Agreement   as a whole and not to any particular provision of this Agreement.  All references to times of day   in this Agreement shall be references to Chicago, Illinois time unless otherwise specifically   provided.  Where the character or amount of any asset or liability or item of income or expense is   required to be determined or any consolidation or other accounting computation is required to be   made for the purposes of this Agreement, the same shall be done in accordance with GAAP, to   the extent applicable, except where such principles are inconsistent with the specific provisions   of this Agreement.    Section 4.3. Change in Accounting Principles.  If, after the date of this Agreement, there   shall occur any change in GAAP from those used in the preparation of the financial statements   referred to in Section 7.6 hereof and such change shall result in a material change in the method   of calculation of any financial covenant, standard or term found in this Agreement, either the   Borrower or the Required Lenders may by notice to the Lenders and the Borrower, respectively,   require that the Lenders and the Borrower negotiate in good faith to amend such covenants,   standards, and terms so as equitably to reflect such change in accounting principles, with the   desired result being that the criteria for evaluating the financial condition of the Parent and its   Subsidiaries shall be the same as if such change had not been made.  No delay by the Borrower   or the Required Lenders in requiring such negotiation shall limit their right to so require such a   negotiation at any time after such a change in accounting principles.  Until any such covenant,   standard, or term is amended in accordance with this Section 4.3, financial covenants shall be   computed and determined in accordance with GAAP without giving effect to the relevant change     

 

   -50-   in accounting principles.  Notwithstanding any other provision contained herein, all terms of an   accounting or financial nature used herein shall be construed, and all computations of amounts   and ratios referred to herein shall be made without giving effect to any change to, or   modification of, GAAP which would require the capitalization of leases (whether or not existing)   that would be characterized as “operating leases” under GAAP as in effect as of the Effective   Date.    Section 4.4. Limited Condition Acquisition.  In connection with any action being taken   in connection with a Limited Condition Acquisition, for purposes of determining compliance   with any provision of this Agreement which requires (i) that no Default, Event of Default or   specified Event of Default, as applicable, has occurred, is continuing or would result from any   such action, as applicable, such condition shall, at the option of the Parent (an “LCA Election”),   be deemed satisfied so long as no Default, Event of Default or specified Event of Default, as   applicable, exists on the date the definitive agreements for such Limited Condition Acquisition   are entered into (the “LCA Test Date”) and no Default or Event of Default under Section 8.1(a),   (f) or (g) exists or would result therefrom on the date any related New Term Loans are advanced   or (ii) the calculation of the Net Cash Flow Leverage Ratio and the Cash Interest Coverage   Ratio, in each case, at the option of the Parent, the date of determination of whether any such   action is permitted hereunder shall be deemed to be the LCA Test Date and if, after giving pro   forma effect to the Limited Condition Acquisition and the other transactions to be entered into in   connection therewith (including any incurrence of Indebtedness and the use of proceeds thereof)   as if they had occurred at the beginning of the most recent four consecutive fiscal quarters ending   prior to the LCA Test Date for which consolidated financial statements of the Parent are   available, the Parent could have taken such action on the relevant LCA Test Date in compliance   with such ratio, such ratio shall be deemed to have been complied with.   If the Parent makes an LCA Election, then in connection with any calculation of any   ratio, test or basket availability with respect to any transaction following the relevant LCA Test   Date and prior to the earlier of the date on which such Limited Condition Acquisition is   consummated or the date that the definitive agreement for such Limited Condition Acquisition is   terminated or expires without consummation of such Limited Condition Acquisition, for   purposes of determining whether such subsequent transaction is permitted under this Agreement,   any such ratio, test or basket shall be required to be satisfied on a pro forma basis (i) assuming   that such Limited Condition Acquisition and other transactions in connection therewith   (including any incurrence of Indebtedness and the use of proceeds thereof) have been   consummated and (ii) assuming that such Limited Condition Acquisition and other transactions   in connection therewith (including any incurrence of Indebtedness and the use of proceeds   thereof) have not been consummated.  For the avoidance of doubt, notwithstanding anything in   this Section 4.4 to the contrary, the requirements of Section 6.2 are required to be satisfied in   connection with any extensions of credit other than the New Term Loans the proceeds of which   are or will be used to finance a Limited Condition Acquisition, it being understood that the only   conditions to funding such New Term Loans shall be those set forth in the Incremental   Amendment executed and delivered in connection with such New Term Loans.    Section 4.5. Letter of Credit Amounts.  With respect to any Letter of Credit that, by its   terms or the terms of any other Credit Document related thereto, provides for one or more     

 

   -51-   automatic increases in the stated amount thereof, the amount of such Letter of Credit shall be   deemed to be the U.S. Dollar Equivalent of the maximum stated amount of such Letter of Credit   after giving effect to all such increases, whether or not such maximum stated amount is in effect   at such time.   SECTION 5. REPRESENTATIONS AND WARRANTIES.   Each of the Borrower and the Parent hereby represents and warrants to the   Administrative Agent, each Lender and each L/C Issuer as to itself and, where the following   representations and warranties apply to Subsidiaries, as to each of its Subsidiaries, as follows:    Section 5.1. Corporate Organization and Authority.  The Parent is duly organized and   existing in good standing under the laws of the State of Maryland; has all necessary corporate   power to carry on its present business; and is duly licensed or qualified and in good standing in   each jurisdiction in which the nature of the business transacted by it or the nature of the Property   owned or leased by it makes such licensing, qualification or good standing necessary and in   which the failure to be so licensed, qualified or in good standing would reasonably be expected   to have a Material Adverse Effect.  The Borrower is duly incorporated and existing under the   laws of The Netherlands as a private company with limited liability (a besloten vennootschap   met beperkte aansprakelijkheid); has all necessary corporate power to carry on its present   business; and is duly licensed or qualified and in good standing to the extent applicable in each   jurisdiction in which the nature of the business transacted by it or the nature of the Property   owned or leased by it makes such licensing, qualification or good standing necessary and in   which the failure to be so licensed, qualified or in good standing would reasonably be expected   to have a Material Adverse Effect.  The Borrower and each Guarantor is subject to civil and   commercial law with respect to its obligations under the Credit Documents and the making and   performance of the Credit Documents by the Borrower and each Guarantor constitute private and   commercial acts rather than public or governmental acts.  Neither the Borrower nor any   Guarantor is entitled to any immunity on the ground of sovereignty or the like from the   jurisdiction of any court or from any action, suit, setoff or proceeding, or the service of process   in connection therewith, arising under the Credit Documents.    Section 5.2. Subsidiaries.  Schedule 5.2 hereto identifies as of the date of this   Agreement each Guarantor, the jurisdiction of its organization, the percentage of issued and   outstanding shares of each class of its capital stock or equity interests, as the case may be, owned   by the Parent and the Subsidiaries and, if such percentage is not 100% (excluding directors’   qualifying shares as required by law), a description of each class of its authorized capital stock   and other equity interests and the number of shares of each class issued and outstanding.   Except   to the extent that would not reasonably be expected to have a Material Adverse Effect, each   Subsidiary is duly incorporated or formed and existing in good standing as a corporation, limited   partnership, limited liability company or other entity under the laws of the jurisdiction of its   incorporation or formation, has all necessary corporate or other power to carry on its present   business, and is duly licensed or qualified and in good standing in each jurisdiction in which the   nature of the business transacted by it or the nature of the Property owned or leased by it makes   such licensing or qualification necessary.  All of the issued and outstanding shares of capital   stock and other equity interests of each Subsidiary are validly issued and outstanding and fully     

 

   -52-   paid and, if such Subsidiary is a corporation, nonassessable.  All such shares owned by the   Parent are owned beneficially, and of record, free of any Lien other than any Lien permitted by   Section 7.9(c) or Section 7.9(d).      Section 5.3. Authority and Validity of Obligations.  The Borrower has full power and   authority to enter into this Agreement and the other Credit Documents to which it is a party, to   make the borrowings herein provided for, to issue its Notes in evidence thereof, to apply for the   issuance of the Letters of Credit, and to perform all of its obligations under the Credit   Documents to which it is a party.  Each Guarantor has full power and authority to enter into this   Agreement as a signatory hereto or pursuant to a Subsidiary Guarantee Agreement and to   perform all of its obligations hereunder.  Each Credit Document to which the Borrower or any   Guarantor is a party has been duly authorized, executed and delivered by the Borrower and such   Guarantors and constitutes valid and binding obligations of the Borrower and Guarantors in   accordance with its terms, except as enforceability may be limited by bankruptcy, insolvency,   fraudulent conveyance or similar laws affecting creditors’ rights generally and general principles   of equity (regardless of whether the application of such principles is considered in a proceeding   in equity or at law).  No Credit Document to which the Borrower is a party, nor the performance   or observance by the Borrower of any of the matters or things therein provided for, contravenes   any provision of law or any provision of the articles of association (“statuten”) of the Borrower   or (individually or in the aggregate) any material Contractual Obligation of or binding upon the   Borrower or any of its Properties or results in or requires the creation or imposition of any Lien   on any of the Properties or revenues of the Borrower.  No Credit Document to which a Guarantor   is a party, nor the performance or observance by such Guarantor of any of the matters or things   therein provided for, contravenes any provision of law or any judgment, order or decree binding   upon such Guarantor or any provision of the organizational documents (e.g. charter, certificate or   articles of incorporation and by-laws, certificate or articles of association and operating   agreement, partnership agreement, or other similar organizational documents) of such Guarantor   or (individually or in the aggregate) any material Contractual Obligation of or binding upon such   Guarantor or any of its Properties or results in or requires the creation or imposition of any Lien   on any of the Properties or revenues of such Guarantor.  This Agreement is, and each Note when   duly executed and delivered by the Borrower  will be, in proper legal form under the laws of The   Netherlands for the enforcement hereof against the Borrower under such law and if this   Agreement were to be stated to be governed by such law, it would constitute valid and binding   obligations of the Borrower under such law, except as enforceability may be limited by   bankruptcy, insolvency, fraudulent conveyance or similar laws affecting creditors’ rights   generally and general principles of equity (regardless of whether the application of such   principles is considered in a proceeding in equity or at law).    Section 5.4. Financial Statements.  All financial statements heretofore delivered to the   Lenders showing historical performance for each of the Parent’s fiscal years ending on or before   December 31, 2015, have been prepared in accordance with GAAP applied on a basis consistent,   except as otherwise noted therein, with that of the previous fiscal year.  Each of such financial   statements fairly presents on a consolidated basis the financial condition of the Parent and its   Subsidiaries as of the dates thereof and the results of operations for the periods covered thereby.    Since December 31, 2015, there has been no material adverse change which has not been   disclosed to the Lenders in the business, operations, Property or financial condition of the Parent   and its Subsidiaries on a consolidated basis.     

 

   -53-    Section 5.5. No Litigation; No Labor Controversies.  (a) Except as disclosed in the   Parent’s periodic current reports filed with the SEC prior to the Effective Date, there is no   litigation or governmental proceeding pending, or to the knowledge of the Parent or any   Guarantor threatened, against the Parent or any Subsidiary which would reasonably be expected   (individually or in the aggregate) to have a Material Adverse Effect.    (b) There are no labor controversies pending or, to the best knowledge of the Borrower,   Parent or any Guarantor, threatened against the Parent or any Subsidiary which would reasonably   be expected (insofar as the Borrower or Parent may reasonably foresee) to have a Material   Adverse Effect.    Section 5.6. Taxes.  The Parent and its Subsidiaries have filed all United States federal   and state income tax returns, and all other material tax returns, required to be filed and have paid   all taxes due pursuant to such returns or pursuant to any assessment received by the Parent or any   Subsidiary, except such taxes, if any, as are being contested in good faith and for which adequate   reserves in accordance with GAAP have been provided.  No notices of tax liens have been filed   and no claims are being asserted concerning any such taxes, which liens or claims if filed or   made would reasonably be expected to have a Material Adverse Effect.  The charges, accruals   and reserves on the books of the Parent and its Subsidiaries for any taxes or other governmental   charges are adequate.     Section 5.7. Approvals.  No authorization, consent, license, exemption, filing or   registration with any court or governmental department, agency or instrumentality, nor any   approval or consent of the stockholders of the Parent or any Subsidiary or from any other Person,   is necessary to the valid execution, delivery or performance by the Parent or any Subsidiary of   any Credit Document to which it is a party except for such approvals and consents which have   been obtained and are in full force and effect.    Section 5.8. ERISA.  With respect to each Plan, the Parent and each other member of the   Controlled Group has fulfilled its obligations under the minimum funding standards of and is in   compliance with the Employee Retirement Income Security Act of 1974, as amended, or any   successor statute thereto (“ERISA”), and with the Code to the extent applicable to it except for   such noncompliances that individually or in the aggregate would not reasonably be expected to   have a Material Adverse Effect and has not incurred any liability to the Pension Benefit   Guaranty Corporation or any Person succeeding to any or all of its functions under ERISA   (“PBGC”) or a Plan under Title IV of ERISA other than a liability to the PBGC for premiums   under Section 4007 of ERISA, except for such liabilities that would not reasonably be expected   to have a Material Adverse Effect.  Neither the Parent nor any Subsidiary has any material   contingent liabilities for any post-retirement benefits under a Welfare Plan, other than liability   for continuation coverage described in Part 6 of Title I of ERISA.    Section 5.9. Government Regulation.  Neither the Parent nor any Subsidiary is an   “investment company” or a company “controlled” by an “investment company” within the   meaning of the Investment Company Act of 1940, as amended, or to the extent a Subsidiary is an   “investment company,” it is properly registered with the SEC.     

 

   -54-    Section 5.10. Margin Stock.  Neither the Parent nor any Subsidiary is engaged principally,   or as one of its primary activities, in the business of extending credit for the purpose of   purchasing or carrying margin stock (“margin stock” to have the same meaning herein as in   Regulation U of the Board of Governors of the Federal Reserve System).  The Borrower will not   use the proceeds of any Loan, Swingline Loan or Letter of Credit in a manner that violates any   provision of Regulation U or X of the Board of Governors of the Federal Reserve System.    Margin stock (as hereinabove defined) constitutes less than 25% of the assets of the Parent and   its Subsidiaries which are subject to any limitation on sale, pledge or other restriction hereunder.    Section 5.11. Licenses and Authorizations; Compliance with Environmental and Health   Laws.  (a) The Parent and each of its Subsidiaries has all necessary licenses, permits and   governmental authorizations to own and operate its Properties and to carry on its business as   currently conducted and contemplated, except to the extent the failure to have such licenses,   permits or authorizations would not reasonably be expected to have a Material Adverse Effect.    (b) To the best of the Borrower’s and each Guarantor’s knowledge, the business and   operations of the Parent and each Subsidiary comply in all respects with all applicable   Environmental and Health Laws, except where the failure to so comply would not (individually   or in the aggregate) reasonably be expected to have a Material Adverse Effect.    (c) Neither the Parent nor any Subsidiary has given, nor is it required to give, nor has it   received, any notice, letter, citation, order, warning, complaint, inquiry, claim or demand to or   from any governmental entity or in connection with any court proceeding with respect to a   matter which would reasonably be expected to have a Material Adverse Effect claiming that:    (i) the Parent or any Subsidiary has violated, or is about to violate, any Environmental and   Health Law; (ii) there has been a release, or there is a threat of release, of Hazardous Materials   from the Parent’s or any Subsidiary’s Property, facilities, equipment or vehicles; (iii) the Parent   or any Subsidiary may be or is liable, in whole or in part, for the costs of cleaning up,   remediating or responding to a release of Hazardous Materials; or (iv) any of the Parent’s or any   Subsidiary’s property or assets are subject to a Lien in favor of any governmental entity for any   liability, costs or damages, under any Environmental and Health Law arising from, or costs   incurred by such governmental entity in response to, a release of a Hazardous Materials.    Section 5.12. Ownership of Property; Liens.  The Parent and each Subsidiary has good   record and marketable title in fee simple to, valid leasehold interests in or other valid right to use   all real property owned or leased by it, and title to, valid leasehold interests or other valid right to   use all its other Property, in each case, except as would not reasonably be expected to have a   Material Adverse Effect.  None of the Parent’s real property is subject to any Lien except as   permitted in Section 7.9 hereof, and none of the Parent’s or any Restricted Subsidiary’s other   Property is subject to any Lien, except as permitted in Section 7.9 hereof.    Section 5.13. Compliance with Agreements.  Neither the Parent nor any Subsidiary is in   default in the performance, observance or fulfillment of any of the obligations, covenants or   conditions contained in any agreement to which it is a party, which default would reasonably be   expected to have a Material Adverse Effect.     

 

   -55-    Section 5.14. Accuracy of Information.  No written or formally presented information,   exhibit or report (other than projections, pro forma financial information and other information   of a general economic or industry nature) furnished by the Parent or Borrower to any Lender or   the Administrative Agent in connection with a Loan, Swingline Loan or Letter of Credit or the   negotiation of the Credit Documents contained any material misstatement of fact or omitted to   state any fact necessary to make the statements contained therein, taken as a whole, not   misleading in light of the circumstances, the Administrative Agent and the Lenders   acknowledging that as to any projections furnished to the Administrative Agent and the Lenders,   the Parent only represents that the same were prepared on the basis of information and estimates   the Parent believed to be reasonable at the time such projections were prepared and that such   projections are as to future events and not to be viewed as facts, and that actual results during the   period or periods covered by any such projections may differ materially from the projected   results.    Section 5.15. Sanction Programs.  (a) The Parent is in compliance with the requirements   of all Sanction Programs applicable to it, (b) each Subsidiary is in compliance with the   requirements of all Sanction Programs applicable to such Subsidiary, (c) the Parent has provided   to the Administrative Agent, each L/C Issuer, and the Lenders all information regarding the   Parent and its Affiliates and Subsidiaries necessary for the Administrative Agent, each   L/C Issuer, and the Lenders to comply with all applicable Sanction Programs, and (d) neither the   Parent nor any of its Subsidiaries, nor to the knowledge of the Parent, no officer, director,   employee, or Affiliate thereof, is, as of the date hereof, a Sanctioned Person or is in violation of   AML Laws, Anti-Corruption Laws, or Sanctions.  The Parent has implemented and maintains in   effect policies and procedures designed to ensure compliance by the Parent, its Subsidiaries and   their respective directors, officers, employees and agents with Anti-Corruption Laws, applicable   AML Laws and applicable Sanctions.   The undertakings contained in this Section 5.15 shall not be made by nor apply to any    Guarantor that qualifies as a resident party domiciled in the Federal Republic of Germany   (Inländer) within the meaning of Sect. 2 paragraph 15 German Foreign Trade Act   (Außenwirtschaftsgesetz) in so far as it would result in a violation of or conflict with Sect. 7   German Foreign Trade Regulation (Außenwirtschaftsverordnung), any provision of Council   Regulation (EC) 2271/1996 or any other similar applicable anti-boycott statute.    Section 5.16. Claims Pari Passu.  The claims of the Administrative Agent and the   Lenders against the Borrower and each Guarantor hereunder will rank at least pari passu with   the claims of all their other respective unsecured unsubordinated creditors.    Section 5.17. Solvency.  The Parent and its Subsidiaries, taken as a whole, are solvent,   able to pay their debts as they become due, and have sufficient capital to carry on their business   and all businesses in which they are about to engage.   SECTION 6. CONDITIONS PRECEDENT.   The obligation of each Lender to advance, continue, or convert any Loan or any   Swingline Loan, or of an L/C Issuer to issue, extend the expiration date (including by not giving     

 

   -56-   notice of non-renewal) of or increase the amount of any Letter of Credit, shall be subject to the   following conditions precedent:    Section 6.1. Initial Credit Event.  Before or concurrently with the first Credit Event:    (a) The Administrative Agent shall have received this Agreement duly   executed by Borrower, each Guarantor, and each Lender;    (b) The Administrative Agent shall have received for each Lender in form and   substance satisfactory to the Administrative Agent the favorable written opinion of   (i) Mark J. Ohringer, Esquire, Global General Counsel to the Borrower and Guarantors,   (ii) Loyens & Loeff, Dutch counsel to the Borrower, (iii) Baker & McKenzie, English   counsel to Jones Lang LaSalle Limited, (iv) Hogan Lovells International LLP, German   counsel to Jones Lang LaSalle GmbH, and (v) the opinion of Skadden, Arps, Slate,   Meagher & Flom LLP, special Illinois counsel to the Borrower and Guarantors;    (c) The Administrative Agent shall have received for each Lender copies of   the notarial deed of incorporation (including the articles of association) of the Borrower,   certified by a Dutch civil law notary to be true copies and an extract of the commercial   register of the chamber of commerce of Amsterdam relating to the Borrower;    (d) The Administrative Agent shall have received copies of the Certificate of   Incorporation and bylaws (or equivalent) of each Guarantor, certified in each instance by   its secretary or an assistant secretary (or its equivalent);    (e) The Administrative Agent shall have received copies, certified by the   secretary or assistant secretary (or its equivalent) of the Borrower’s and each Guarantor’s   board of directors’ resolutions (or its equivalent) authorizing the execution of the Credit   Documents to which it is a party;    (f) The Administrative Agent shall have received certificates, executed by the   secretary or assistant secretary of each Guarantor, which shall identify by name and title   and bear the signature of the partners or officers authorized to sign the Credit Documents   to which it is a party;    (g) The Administrative Agent shall have received copies of the certificates of   good standing (to the extent relevant) for each Guarantor (dated no earlier than 30 days   prior to the date hereof) from the office of the secretary of the state of its incorporation or   organization;    (h) The Administrative Agent shall have received to the extent requested by   any Lender, such Lender’s duly executed Notes of the Borrower dated the date hereof   and otherwise in compliance with the provisions of Section 1.11(d) hereof;    (i) The Administrative Agent shall have received a list of the Borrower’s   Authorized Representatives;      

 

   -57-    (j) All legal matters incident to the execution and delivery of the Credit   Documents shall be satisfactory to the Lenders;    (k) The Administrative Agent and each Lender shall have received for each   fiscal year of the Parent through the fiscal year ending December 31, 2021, a business   plan showing in reasonable detail projected operating budgets, consolidated revenues,   expenses, and balance sheets on an annual basis, such business plan to be in form and   substance satisfactory to the Administrative Agent and each Lender and shall include a   summary of all assumptions made in preparing such business plan; and    (l) The Administrative Agent and each Lender shall have received,   sufficiently in advance of the Effective Date, all documentation and other information   required by applicable regulatory authorities under applicable “know your customer” and   anti-money laundering rules and regulations, including the Act.    Section 6.2. All Credit Events.  Subject to Section 4.4 hereof, as of the time of each   Credit Event hereunder:    (a) In the case of a Borrowing, the Administrative Agent shall have received   the notice required by Section 1.6 hereof (or, in the case of Swingline Loans, Section 1.2   hereof), in the case of the issuance of any Letter of Credit the applicable L/C Issuer shall   have received a duly completed Application for a Letter of Credit and, in the case of an   extension or increase in the amount of a Letter of Credit, a written request therefor, in a   form acceptable to the applicable L/C Issuer;    (b) Each of the representations and warranties set forth in Section 5 hereof   shall be and remain true and correct in all material respects as of said time (where not   already qualified by materiality, otherwise in all respects), except that if any such   representation or warranty relates solely to an earlier date it need only remain true and   correct in all material respects (where not already qualified by materiality, otherwise in   all respects) as of such date, taking into account any amendments to such Section   (including, without limitation, any amendments to the Schedules referenced therein)   made after the date of this Agreement in accordance with the provision hereof; and    (c) No Default or Event of Default shall have occurred and be continuing or   would occur as a result of such Credit Event.   Subject to Section 4.4 hereof, each request for a Borrowing hereunder and each request   for the issuance of, increase in the amount of, or extension of the expiration date of, a Letter of   Credit shall be deemed to be a representation and warranty by the Borrower on the date of such   Credit Event as to the facts specified in paragraphs (b) and (c) of this Section 6.2.  No waiver of   any condition to funding a Credit Event under the Revolving Facility after the Effective Date and   no waiver of a Default shall be effective for the purposes of Section 6.2(c) hereof with respect to   any such Credit Event, unless such waiver shall have been approved by the Required Revolving   Lenders.      

 

   -58-   SECTION 7. COVENANTS.   Each of the Borrower and the Parent covenants and agrees that, so long as any Note,   Loan, Swingline Loan or L/C Obligation is outstanding hereunder, or any Revolving Credit   Commitment is available to or in use by the Borrower hereunder, except to the extent compliance   in any case is waived in writing by the Required Lenders:    Section 7.1. Corporate Existence; Subsidiaries.  The Parent shall, and shall cause each   of its Restricted Subsidiaries to, preserve and maintain its existence, subject to the provisions of   Section 7.12 hereof; provided that the Parent shall not be required to preserve the existence of   any Restricted Subsidiary (other than the Borrower) if the maintenance or preservation thereof,   as determined by the Board of Directors of the Parent, is no longer desirable in the conduct of the   business of the Parent and its Subsidiaries, taken as a whole.    Section 7.2. Maintenance.  The Parent will maintain, preserve and keep its Property   necessary to the proper conduct of its business in reasonably good repair, working order and   condition and will from time to time make all reasonably necessary repairs, renewals,   replacements, additions and betterments thereto so that at all times such plants, properties and   equipment shall be reasonably preserved and maintained, except to the extent that any failure to   do so would not reasonably be expected to have a Material Adverse Effect, and the Parent will   cause each of its Subsidiaries to do so in respect of Property owned or used by it; provided,   however, that nothing in this Section 7.2 shall prevent the Parent or a Subsidiary from   discontinuing the operation or maintenance of any such Properties if such discontinuance would   not reasonably be expected to have a Material Adverse Effect.    Section 7.3. Taxes.  The Parent will duly pay and discharge, and will cause each of its   Subsidiaries duly to pay and discharge, all federal, material state and other material taxes,   assessments, and governmental charges or levies upon or against it or against its Properties, in   each case before the same becomes delinquent and before penalties accrue thereon, unless and to   the extent that the same is being contested in good faith by appropriate proceedings and reserves   in conformity with GAAP have been provided therefor on the books of the Parent.    Section 7.4. ERISA.  The Parent will, and will cause each of its Subsidiaries and each   member of the Controlled Group to, promptly pay and discharge all obligations and liabilities   arising under ERISA of a character which if unpaid or unperformed would reasonably be   expected to result in a Material Adverse Effect.  The Parent will, and will cause each of its   Subsidiaries to promptly notify the Administrative Agent of:  (i) the occurrence of any reportable   event (as defined in ERISA) affecting a Plan, other than any such event of which the PBGC has   waived notice by regulation, (ii) receipt of any notice from PBGC of its intention to seek   termination of any  Plan or appointment of a trustee therefor, (iii) its intention to terminate or   withdraw from any Plan, and (iv) the occurrence of any event affecting any Plan which could   result in the incurrence by the Parent, any of its Subsidiaries or any member of its Controlled   Group of any liability, fine or penalty, or any increase in the contingent liability of the Parent or   any of its Subsidiaries or any member of its Controlled Group under any post-retirement Welfare     

 

   -59-   Plan benefit, in each where such event could reasonably be expected to have a Material Adverse   Effect.  The Administrative Agent will promptly distribute to each Lender any notice it receives   from the Parent pursuant to this Section 7.4.    Section 7.5. Insurance.  The Parent will maintain, and will cause each of its Subsidiaries   to maintain, insurance with good and responsible insurance companies, covering insurable   Property owned by it with respect to such risks as is consistent with sound business practice.    The Parent will upon request of any Lender furnish to such Lender a summary setting forth the   nature and extent of the insurance maintained pursuant to this Section 7.5.    Section 7.6. Financial Reports and Other Information.  (a) The Parent will maintain a   system of accounting in accordance with GAAP and will furnish to the Administrative Agent on   behalf of the Lenders and their respective duly authorized representatives such information   respecting the business and financial condition of the Parent and its Subsidiaries as the   Administrative Agent or any Lender through the Administrative Agent  may reasonably request;   and without any request, the Parent will furnish each of the following to the Administrative   Agent (which shall promptly furnish such information to the Lenders):    (i) unless included in a Form 10-Q delivered pursuant to clause (a)(iii) below,   no later than 45 days after the last day of each first three fiscal quarterly periods of each   fiscal year of the Parent, a copy of the consolidated balance sheet of the Parent and its   Subsidiaries as of the last day of such fiscal quarter and the consolidated statements of   income, retained earnings, and cash flows of the Parent and its Subsidiaries for such   fiscal quarter and for the fiscal year-to-date period then ended, each in reasonable detail   showing in comparative form the figures for the corresponding date and period in the   previous fiscal year, prepared by the Parent in accordance with GAAP (subject to the   absence of footnote disclosures and year-end audit adjustments) and certified to by its   chief financial officer or another officer of the Parent acceptable to the Administrative   Agent;    (ii) unless included in a Form 10-K delivered pursuant to clause (a)(iii) below,   no later than 90 days after the last day of each fiscal year of the Parent, a copy of the   consolidated balance sheet of the Parent and its Subsidiaries as of the last day of the fiscal   year then ended and the consolidated statements of income, retained earnings, and cash   flows of the Parent and its Subsidiaries for the fiscal year then ended, and accompanying   notes thereto, each in reasonable detail showing in comparative form the figures as of the   end of and for the previous fiscal year, accompanied by an unqualified opinion of   independent public accountants of recognized national standing selected by the Borrower,   to the effect that the consolidated financial statements have been prepared in accordance   with GAAP and present fairly in accordance with GAAP the consolidated financial   condition of the Parent and its Subsidiaries as of the close of such fiscal year and the   results of their operations and cash flows for the fiscal year then ended and that an   examination of such accounts in connection with such financial statements has been made   in accordance with generally accepted auditing standards and, accordingly, such   examination included such tests of the accounting records and such other auditing   procedures as were considered necessary in the circumstances;     

 

   -60-    (iii) each financial statement required to be furnished to the Lenders pursuant   to subsection (i) or (ii) of this Section 7.6 shall be accompanied by copies of all proxy   statements, financial statements and reports the Parent sent to its shareholders, and copies   of all other regular, periodic and special reports and all registration statements the Parent   filed with the SEC or any successor thereto, or with any national securities exchanges:   (A) in the case of the financial statements required to be furnished pursuant to   subsection (i) above, during or in respect of the fiscal quarter covered by such financial   statements and (B) in the case of the financial statements required to be furnished   pursuant to subsection (ii) above, during or in respect of the last fiscal quarter covered by   such financial statements; and    (iv) within 90 days after the beginning of each fiscal year of the Parent an   operating budget, including an income statement, for the Parent and its Subsidiaries for   such fiscal year of the Parent.   The financial statements required to be delivered pursuant to this clause (a) may be   delivered electronically and if so delivered, shall be deemed to have been delivered on   the earliest of the date (i) on which the Parent posts such financial statements, or provides   a link thereto, on the Parent’s website on the Internet at the website address listed in   Section 10.8, (ii) on which such documents are posted to the SEC’s website (including as   part of any 10-K or 10-Q filing) or (iii) on which such financial statements are posted on   the Parent’s behalf on any Platform; provided that the Parent or the Borrower shall have   notified the Administrative Agent of the posting of such financial statements.  The   Administrative Agent shall have no obligation to request the delivery or to maintain   copies of the documents referred to above, and in any event shall have no responsibility   to monitor compliance by the Parent with any such request for delivery, and each Lender   shall be solely responsible for timely accessing posted documents or requesting delivery   to it or maintaining its copies of such documents.    (b) On or before the date that each financial statement is required to be furnished to the   Lenders pursuant to subsection (i) or (ii) of Section 7.6(a) hereof, the Parent will deliver a   Compliance Certificate signed by the Parent’s chief financial officer, treasurer or controller   showing the Cash Flow Leverage Ratio, the Net Cash Flow Leverage Ratio and the Parent’s   compliance with the covenants set forth in Sections 7.15 and 7.16 hereof.    (c) The Parent will promptly (and in any event within three Business Days after any of   the President, chief executive officer, chief financial officer, chief operating officer, treasurer,   assistant treasurer, or controller of the Parent has knowledge thereof) give notice to the   Administrative Agent:    (i) of the occurrence of any Change of Control, Default or Event of Default;    (ii) of any default or event of default under any Contractual Obligation of the   Parent or any of its Subsidiaries, except for a default or event of default which is not   reasonably expected to have a Material Adverse Effect;     

 

   -61-    (iii) of the occurrence of an event or condition which would reasonably be   expected to result in a Material Adverse Effect; and    (iv) of any litigation or governmental proceeding of the type described in   Section 5.5 hereof.    Section 7.7. Lender Inspection Rights.  Upon reasonable notice from the Administrative   Agent, the Parent will permit the Administrative Agent and each Lender (and such Persons as the   Administrative Agent or such Lender may designate) during normal business hours and under   the Parent’s guidance, to visit and inspect any of the Property of the Parent or any of its   Subsidiaries, to examine all of their books of account, records, reports and other papers, to make   copies and extracts therefrom, and to discuss their respective affairs, finances and accounts with   their respective officers, employees and, after the occurrence and during the continuance of an   Event of Default, and so long as Parent is afforded the opportunity to be present, independent   public accountants; provided that, excluding any such visits and inspections during the   continuation of an Event of Default, only the Administrative Agent on behalf of the Lenders may   exercise rights of the Administrative Agent and the Lenders under this Section 7.7, provided   further, that none of the Parent, the Borrower nor any Subsidiary will be required to disclose,   permit the inspection, examination or making copies or extracts from, or discussion or, any   books, documents, information or other matter (a) in respect of which disclosure to the   Administrative Agent or any Lender (or their respective representatives or designees) is   prohibited by law or any bona fide binding agreement, (b) is subject to attorney-client or similar   privilege or constitutes attorney work product or (c) constituting trade secrets.    Section 7.8. Conduct of Business.  Neither the Parent nor any Subsidiary will engage in   any line of business if, as a result, the general nature of the business of the Parent and its   Subsidiaries taken as a whole would be substantially changed from that conducted on the date   hereof, other than through entry into businesses reasonably related or complementary thereto or   reasonable extensions of such business.     Section 7.9. Liens.  The Parent will not, and will not permit any of its Restricted   Subsidiaries to, create, incur, permit to exist or to be incurred any Lien of any kind on any   Property owned by the Parent or any Restricted Subsidiary; provided, however, that this   Section 7.9 shall not apply to nor operate to prevent:    (a) Liens arising by operation of law in connection with worker’s   compensation, unemployment insurance, social security obligations, taxes, assessments,   statutory obligations or other similar charges, good faith deposits, pledges or Liens in   connection with bids, tenders, contracts or leases to which the Parent or any Subsidiary is   a party (other than contracts for borrowed money), or other deposits required to be made   in the ordinary course of business; provided that in each case the obligation secured is not   overdue by more than 30 days or, if overdue by more than 30 days, is being contested in   good faith by appropriate proceedings and for which reserves in conformity with GAAP   have been provided on the books of the Parent;     

 

   -62-    (b) mechanics’, workmen’s, materialmen’s, landlords’, carriers’ or other   similar Liens arising in the ordinary course of business (or deposits to obtain the release   of such Liens) securing obligations not overdue by more than 30 days or, if overdue by   more than 30 days, being contested in good faith by appropriate proceedings and for   which reserves in conformity with GAAP have been provided on the books of the Parent;    (c) Liens for taxes or assessments or other government charges or levies on   the Parent or any Subsidiary of the Parent or their respective Properties, not yet due or   delinquent, or which can thereafter be paid without material penalty, or which are being   contested in good faith by appropriate proceedings and for which reserves in conformity   with GAAP have been provided on the books of the Parent;    (d) Liens arising out of judgments or awards against the Parent or any   Subsidiary of the Parent not constituting an Event of Default under Section 8.1(h), or in   connection with surety or appeal bonds in connection with bonding such judgments or   awards;    (e) Survey exceptions or encumbrances, easements or reservations, or rights   of others for rights-of-way, utilities and other similar purposes, or zoning or other   restrictions as to the use of real properties which are necessary for the conduct of the   activities of the Parent and any Subsidiary of the Parent or which customarily exist on   properties of corporations engaged in similar activities and similarly situated and which   do not in any event materially impair their use in the operation of the business of the   Parent or any Subsidiary of the Parent;    (f) normal and customary rights of setoff upon deposits of cash in favor of   banks or other depository institutions and Liens of a collection bank arising under   Section 4-210 of the Uniform Commercial Code on items in the course of collection; and    (g) Liens not otherwise permitted under this Section 7.9 on Property (other   than (i) shares of stock in any Wholly-Owned Subsidiary and (ii) receivables, inventory   and similar working capital assets); provided that, at the time of the incurrence thereof,   the obligations secured thereby shall not exceed the greater of: (i) $300,000,000 and   (ii) 5.0% of the total assets of the Parent and its Restricted Subsidiaries determined on a   consolidated basis as of the last day of the immediately preceding fiscal year.    Section 7.10. Use of Proceeds; Regulation U.  The proceeds of each Borrowing, and the   credit provided by Letters of Credit, will be used by the Borrower, the Parent and the Parent’s   Subsidiaries for working capital, and other general corporate purposes including acquisitions of   businesses permitted by Section 7.14 hereof and the payment of dividends and distributions.  The   Borrower will not use any part of the proceeds of any of the Borrowings or of the Letters of   Credit directly or indirectly to purchase or carry any margin stock (as defined in Section 5.10   hereof) or to extend credit to others for the purpose of purchasing or carrying any such margin   stock, in each case in a manner that violates any provision of Regulation U or X of the Board of   Governors of the Federal Reserve System. The Borrower will not, directly or, to the Borrower’s   knowledge, indirectly, use the proceeds of the Loans, or lend, contribute or otherwise make     

 

   -63-   available such proceeds to any Subsidiary, other Affiliate, joint venture partner or other Person,   (A) in furtherance of an offer, payment, promise to pay, or authorization of the payment or   giving of money, or anything else of value, to any Person in violation of any Anti-Corruption   Laws or AML Laws, (B) for the purpose of funding, financing or facilitating any activities,   business or transaction of or with any Sanctioned Person, or in any Sanctioned Country, or   involving any goods originating in or with a Sanctioned Person or Sanctioned Country, or (C)  in   any manner that would result in the violation of any Sanctions by any Person (including any   Person participating in the transactions contemplated hereunder, whether as underwriter, advisor,   lender, investor or otherwise).    Section 7.11. [Reserved].    Section 7.12. Mergers, Consolidations and Sales of Assets.  The Parent will not, and will   not permit any of its Restricted Subsidiaries to, (i) consolidate with or be a party to a merger with   any other Person or (ii) sell, lease or otherwise dispose of all or substantially all of the   consolidated assets of the Parent and its Restricted Subsidiaries; provided, however, that:    (1) any Restricted Subsidiary of the Parent may merge or consolidate with or   into or sell, lease or otherwise convey its assets to the Parent or any Restricted Subsidiary   of which the Parent directly or indirectly holds at least the same percentage equity   ownership or is entitled through ownership of interests, contractually or otherwise, to at   least the same economic interest; provided that in any such merger or consolidation   involving the Borrower, the Borrower or the Parent shall be the surviving or continuing   corporation;     (2) The Parent and its Subsidiaries may dissolve or liquidate any Restricted   Subsidiary of the Parent (other than the Borrower) or of such Subsidiary so long as all the   assets of such dissolved or liquidated Restricted Subsidiary (i) were direct or indirect co-   investments in real estate or real estate related assets, all of which have been sold or   (ii) are concurrently transferred to the Parent or any Restricted Subsidiary of which the   Parent directly or indirectly holds at least the same percentage equity ownership or is   entitled through ownership of interests, contractually or otherwise, to at least the same   economic interest; provided that if any Guarantor (other than the Parent) is dissolved or   liquidated all of such Guarantor’s assets shall be concurrently transferred to the Borrower   or another Guarantor; and    (3) The Parent or any Restricted Subsidiary of the Parent may consolidate or   merge with any other Person if the Parent or such Restricted Subsidiary or, in the case of   such a transaction involving the Borrower, the Parent or the Borrower, is the surviving or   continuing corporation or, in the case of a Restricted Subsidiary, such Person becomes a   Restricted Subsidiary, and at the time of such consolidation or merger, and after giving   effect thereto, no Default or Event of Default shall have occurred and be continuing.    Section 7.13. Use of Property and Facilities; Environmental and Health and Safety Laws.    (a) The Parent will, and will cause each of its Subsidiaries to, comply in all material respects   with the requirements of all Environmental and Health Laws applicable to or pertaining to the     

 

   -64-   Properties or business operations of the Parent or any Subsidiary of the Parent to the extent   noncompliance would reasonably be expected to have a Material Adverse Effect.  Without   limiting the foregoing, the Parent will not, and will not permit any Person to, except in   accordance with applicable law, dispose of any Hazardous Material into, onto or upon any real   property owned or operated by the Parent or any of its Subsidiaries if such disposal would   reasonably be expected to have a Material Adverse Effect.    (b) The Parent will promptly provide the Lenders with copies of any notice or other   instrument of the type described in Section 5.11(c) hereof, and in no event later than five (5)   Business Days after the President, chief executive officer, chief financial officer, chief operating   officer, treasurer, assistant treasurer or controller of the Parent receives such notice or   instrument.    Section 7.14. Acquisitions.  The Parent will not, nor will it permit any Subsidiary to,   directly or indirectly, make, any Acquisition; provided, however, that the foregoing provisions   shall not apply to nor operate to prevent Permitted Acquisitions.    Section 7.15. Net Cash Flow Leverage Ratio.  The Parent will as of the last day of each   calendar quarter maintain a Net Cash Flow Leverage Ratio of not more than 3.50 to 1.00;   provided that, the Borrower may, by written notice to the Administrative Agent, increase the   maximum Net Cash Flow Leverage Ratio to 4.00 to 1.00 (each such election, a “Net Cash Flow   Leverage Ratio Increase”) for the four consecutive calendar quarter ending dates (or such   shorter time, as may be elected by the Borrower) immediately following the consummation of a   Material Acquisition by the Borrower or a Restricted Subsidiary; provided further that, while in   a Net Cash Flow Leverage Ratio Increase period, the Borrower shall be permitted to extend the   Net Cash Flow Leverage Increase period in connection with any additional Material Acquisition   for an additional 4 consecutive calendar quarters from the consummation of the additional   Material Acquisition by written notice to the Administrative Agent, provided that at the time of   the consummation of the additional Material Acquisition the Borrower’s Net Cash Flow   Leverage Ratio before giving effect to such Material Acquisition is less than 3.50 to 1.00.    Section 7.16. Cash Interest Coverage Ratio.  The Parent will as of the last day of each   calendar quarter maintain a Cash Interest Coverage Ratio of not less than 3.00 to 1.00.    Section 7.17. Dividends and Other Shareholder Distributions.  The Parent shall only   declare or pay dividends or make a distribution (other than dividends and distributions payable   solely in its capital stock) of any kind (including by redemption or purchase other than purchases   of outstanding capital stock in connection with the Parent’s Stock Compensation Program,   Employee Stock Purchase Plan, Stock Award and Incentive Plan and any similar programs or   plans) on its outstanding capital stock, if no Default or Event of Default (i) exists prior to or   would result after giving effect to such action or (ii) exists or would result from such dividend or   distribution on the date of declaration of such dividend or distribution, so long as such dividend   or distribution is made within 60 days of such declaration.    Section 7.18. Indebtedness.  The Parent will not permit the non‐Guarantor Restricted   Subsidiaries to have outstanding at any time any Indebtedness other than Indebtedness if, after     

 

   -65-   giving effect thereto, the aggregate principal amount outstanding for all non-Guarantor   Restricted Subsidiaries at the time of incurrence (x) in the case of Priority Debt, when added to   the then outstanding principal amount of Priority Debt of the Borrower and Guarantors does not   exceed the greater of: (i) $300,000,000 and (ii) 5% of the total assets of the Parent and its   Restricted Subsidiaries determined on a consolidated basis as of the last day of the immediately   preceding fiscal quarter and (y) in the case of unsecured Indebtedness, does not exceed the   greater of: (i) $1,000,000,000 and (ii) 20% of the total assets of the Parent and its Restricted   Subsidiaries determined on a consolidated basis as of the last day of the immediately preceding   fiscal quarter.    Section 7.19. Transactions with Affiliates.  The Parent will not, and will not permit any of   its Subsidiaries to, enter into or be a party to any material transaction or arrangement (where   “material” means material for the Parent and its Subsidiaries taken as a whole) with any   Affiliate of such Person (other than the Parent or any of its Subsidiaries), including without   limitation, the purchase from, sale to or exchange of Property with, any merger or consolidation   with or into, or the rendering of any service by or for, any Affiliate, except upon fair and   reasonable terms no less favorable to the Parent or such Subsidiary than could be obtained in a   comparable arm’s-length transaction with a Person other than an Affiliate, provided, that the   foregoing shall not restrict any transaction between (i) the Borrower and any Guarantor and (ii)   any Guarantor and any other Guarantor.       Section 7.20. Compliance with Laws.  Without limiting any of the other covenants of the   Parent in this Section 7, the Parent will, and will cause each of its Subsidiaries to, conduct its   business, and otherwise be, in compliance with all applicable laws, regulations, ordinances and   orders of any governmental or judicial authorities; provided, however, that neither the Parent nor   any Subsidiary of the Parent shall be required to comply with any such law, regulation,   ordinance or order if (x) it shall be contesting such law, regulation, ordinance or order in good   faith by appropriate proceedings and reserves in conformity with GAAP have been provided   therefor on the books of the Parent or such Subsidiary, as the case may be, or (y) the failure to   comply therewith is not reasonably expected to have, in the aggregate, a Material Adverse   Effect.    Section 7.21. Additional Guarantors.  If on the last day of the calendar quarter ended   June 30, 2016 and each calendar quarter ending thereafter the total liabilities of the   non-Guarantor Subsidiaries of the Parent equal or exceed 35% of the book value of the total   consolidated assets of the Parent and its Subsidiaries, then the Parent will, within fifteen (15)   Business Days of the date on which the balance sheet as of such last day is required to be   delivered pursuant to Section 7.6(a)(i) or Section 7.6(a)(ii) hereof, cause an additional Subsidiary   or additional Subsidiaries to become a Guarantor or Guarantors hereunder such that the total   liabilities of the non-Guarantor Subsidiaries of the Parent are less than 35% of the book value of   the total consolidated assets of the Parent and its Subsidiaries.     In addition, if on the last day of any calendar quarter any Subsidiary which is not then a   Guarantor accounts for either (i) 10% or more of Adjusted EBITDA for the 12-month period   then ended (other than as a result of a one time, non-recurring or extraordinary event reasonably   acceptable to the Administrative Agent) or (ii) 10% or more of the book value of the total     

 

   -66-   consolidated assets of the Parent and its Subsidiaries, then the Parent will, within fifteen (15)   Business Days of the date on which the balance sheet as of such last day is required to be   delivered pursuant to Section 7.6(a)(i) or Section 7.6(a)(ii) hereof, cause such Subsidiary to   become a Guarantor hereunder.  Together with the delivery of any Additional Guarantor   Supplement, the Parent shall deliver and shall cause each such Subsidiary to deliver corporate   resolutions, opinions of counsel, and such other corporate documentation as the Administrative   Agent shall reasonably request.  Notwithstanding the foregoing, LaSalle Investment   Management Asia Pte Ltd. need not become a Guarantor hereunder unless (i) it exceeds either of   the thresholds set forth in the second preceding sentence and (ii) at the end of the immediately   preceding fiscal quarter of the Parent the Net Cash Flow Leverage Ratio is 3.00 to 1.00 or higher.      Section 7.22. Compliance with Sanction Programs.  (a) The Parent shall at all times   comply with the requirements of all Sanction Programs applicable to the Parent and shall cause   each of its Subsidiaries to comply with the requirements of all Sanction Programs applicable to   such Subsidiary.  The Parent will maintain in effect policies and procedures designed to ensure   compliance by the Parent, Borrower, Subsidiaries and their respective directors, officers,   employees and agents with Anti-Corruption Laws, applicable AML Laws and applicable   Sanctions.    (b) The Borrower and each Guarantor shall provide the Administrative Agent, the   L/C Issuers, and the Lenders any information regarding the Borrower and Guarantors, their   Affiliates, and their Subsidiaries necessary for the Administrative Agent, the L/C Issuers, and the   Lenders to comply with all applicable Sanction Programs and any applicable “know your   customer” requirements; subject however, in the case of Affiliates, to the Borrower’s or   Guarantor’s, as applicable, ability to provide information applicable to them.      (c) If the Borrower or any Guarantor obtains actual knowledge or receives any written   notice that the Borrower, any Guarantor, any of their Affiliates or any of their Subsidiaries is   named on the then current OFAC SDN List (such occurrence, an “OFAC Event”), the Parent   shall promptly (i) give written notice to the Administrative Agent, the L/C Issuers, and the   Lenders of such OFAC Event, and (ii) comply with all applicable laws with respect to such   OFAC Event (regardless of whether the party included on the OFAC SDN List is located within   the jurisdiction of the United States of America), including the Sanction Programs, and the   Borrower and each Guarantor hereby authorizes and consents to the Administrative Agent, the   L/C Issuers, and the Lenders taking any and all steps the Administrative Agent, the L/C Issuers,   or the Lenders deem necessary, in their sole but reasonable discretion, to avoid violation of all   applicable laws with respect to any such OFAC Event, including the requirements of the   Sanction Programs (including the freezing and/or blocking of assets and reporting such action to   OFAC).   The undertakings contained in this Section 7.22 shall not be made by nor apply to any Guarantor   that qualifies as a resident party domiciled in the Federal Republic of Germany (Inländer) within   the meaning of Sect. 2 paragraph 15 German Foreign Trade Act (Außenwirtschaftsgesetz) in so   far as it would result in a violation of or conflict with Sect. 7 German Foreign Trade Regulation   (Außenwirtschaftsverordnung), any provision of Council Regulation (EC) 2271/1996 or any   other similar applicable anti-boycott statute.     

 

   -67-   SECTION 8. EVENTS OF DEFAULT AND REMEDIES.    Section 8.1. Events of Default.  Any one or more of the following shall constitute an   Event of Default:    (a) default (x) in the payment when due of the principal amount of any Loan,   Swingline Loan or of any Reimbursement Obligation or (y) for a period of three (3) days   in the payment when due of interest or of any other Obligation;    (b) default by the Borrower, the Parent or any Subsidiary in the observance or   performance of any covenant set forth in the first sentence of Section 7.1, 7.6(c), 7.9   through 7.12, or 7.14 through 7.18 hereof;    (c) default by the Borrower, the Parent or any Subsidiary in the observance or   performance of any provision hereof or of any other Credit Document not mentioned in   (a) or (b) above, which is not remedied within thirty (30) days after the earlier of   (i) written notice thereof is given to the Parent by the Administrative Agent (acting at the   request of any Lender) or (ii) the date on which such failure shall first become known to   any Responsible Officer of the Parent or Borrower;    (d) (i) failure to pay when due Indebtedness in an aggregate principal amount   of $100,000,000 or more of the Borrower, Parent or any Subsidiary or (ii) default shall   occur under one or more indentures, agreements or other instruments under which any   Indebtedness of the Borrower, the Parent or any Subsidiary in an aggregate principal   amount of $100,000,000 or more is outstanding and such default shall continue for a   period of time sufficient to permit the holder or beneficiary of such Indebtedness or a   trustee therefor to cause the acceleration of the maturity of any such Indebtedness or any   mandatory unscheduled prepayment, purchase or funding thereof;    (e) any representation or warranty made herein or in any other Credit   Document by the Borrower, the Parent or any Subsidiary, or in any statement or   certificate furnished pursuant hereto or pursuant to any other Credit Document by the   Borrower, the Parent or any Subsidiary, or in connection with any Credit Document, shall   be untrue in any material respect as of the date of the issuance or making, or deemed   making or issuance, thereof;    (f) the Borrower, any Guarantor or any Material Subsidiary shall (i) have   entered involuntarily against it an order for relief under the United States Bankruptcy   Code, as amended, or any analogous action is taken under any other applicable law   relating to bankruptcy or insolvency, (ii) fail to pay, or admit in writing its inability to   pay, its debts generally as they become due, (iii) make an assignment for the benefit of   creditors, (iv) apply for, seek, consent to, or acquiesce in, the appointment of a receiver,   custodian, trustee, examiner, liquidator or similar official for it or any substantial part of   its Property, (v) institute any proceeding seeking to have entered against it an order for   relief under the United States Bankruptcy Code, as amended, to adjudicate it insolvent, or   seeking dissolution, winding up, liquidation, reorganization, arrangement, adjustment or     

 

   -68-   composition of it or its debts under any law relating to bankruptcy, insolvency or   reorganization or relief of debtors or fail within the time allowed therefor to file an   answer or other pleading denying the material allegations of any such proceeding filed   against it, (vi) take any corporate action (such as the passage by the board of directors of   a resolution) in furtherance of any matter described in parts (i)-(v) above, or (vii) fail to   contest in good faith any appointment or proceeding described in Section 8.1(g) hereof;    (g) a custodian, receiver, trustee, examiner, liquidator or similar official shall   be appointed for the Borrower, any Guarantor or any Material Subsidiary or any   substantial part of any of their Property, or a proceeding described in Section 8.1(f)(v)   hereof shall be instituted against the Borrower, the Parent or any Subsidiary, and such   appointment continues undischarged or such proceeding continues undismissed or   unstayed for a period of sixty (60) days;    (h) the Borrower, the Parent or any Subsidiary shall fail within thirty (30)   days to pay, bond or otherwise discharge any judgment or order for the payment of   money in excess of $100,000,000, which is not stayed on appeal or otherwise being   appropriately contested in good faith in a manner that stays execution thereon;    (i) the Parent or any other member of the Controlled Group shall fail to pay   when due an amount or amounts aggregating in excess of $5,000,000 which it shall have   become liable to pay to the PBGC or to a Plan under Title IV of ERISA; or notice of   intent to terminate a Plan or Plans having aggregate Unfunded Vested Liabilities in   excess of $5,000,000 (collectively, a “Material Plan”) shall be filed under Title IV of   ERISA by the Parent or any Subsidiary or any other member of the Controlled Group,   any plan administrator or any combination of the foregoing; or the PBGC shall institute   proceedings under Title IV of ERISA to terminate or to cause a trustee to be appointed to   administer any Material Plan or a proceeding shall be instituted by a fiduciary of any   Material Plan against the Parent or any other member of the Controlled Group to enforce   Section 515 or 4219(c)(5) of ERISA and such proceeding shall not have been dismissed   within thirty (30) days thereafter; or a condition shall exist by reason of which the  PBGC   would be entitled to obtain a decree adjudicating that any Material Plan must be   terminated;     (j) the Borrower, the Parent or any Subsidiary, or any Person acting on behalf   of the Borrower, the Parent or a Subsidiary, or any Governmental Authority challenges   the validity of any Credit Document or the Borrower’s, the Parent’s or a Subsidiary’s   obligations thereunder or any Credit Document ceases to be in full force and effect; or    (k) a Change of Control shall have occurred.    Section 8.2. Non-Bankruptcy Defaults.  When any Event of Default other than those   described in subsections (f) or (g) of Section 8.1 hereof has occurred and is continuing, the   Administrative Agent shall, by written notice to the Parent: (a) if so directed by the Required   Lenders, terminate the remaining Revolving Credit Commitments and all other obligations of the   Lenders hereunder on the date stated in such notice (which may be the date thereof); (b) if so     

 

   -69-   directed by the Required Lenders, declare the principal of and the accrued interest on all   outstanding Loans, Swingline Loans and all other amounts due under the Credit Documents to be   forthwith due and payable and thereupon all outstanding Loans and Swingline Loans, including   both principal and interest thereon, shall be and become immediately due and payable together   with all other amounts payable under the Credit Documents without further demand,   presentment, protest or notice of any kind; and (c) if so directed by the Required Lenders,   demand that the Borrower immediately pay to the Administrative Agent, subject to Section 8.4   hereof, the full amount then available for drawing under each or any Letter of Credit, and the   Borrower agrees to immediately make such payment and acknowledges and agrees that the   Lenders would not have an adequate remedy at law for failure by the Borrower to honor any   such demand and that the Administrative Agent, for the benefit of the Lenders, shall have the   right to require the Borrower to specifically perform such undertaking whether or not any   drawings or other demands for payment have been made under any Letter of Credit.  The   Administrative Agent, after giving notice to the Borrower pursuant to Section 8.1(c) hereof or   this Section 8.2, shall also promptly send a copy of such notice to the other Lenders, but the   failure to do so shall not impair or annul the effect of such notice.    Section 8.3. Bankruptcy Defaults.  When any Event of Default described in   subsections (f) or (g) of Section 8.1 hereof has occurred and is continuing, then all outstanding   Loans and Swingline Loans shall immediately become due and payable together with all other   amounts payable under the Credit Documents without presentment, demand, protest or notice of   any kind, the obligation of the Lenders to extend further credit pursuant to any of the terms   hereof shall immediately terminate and the Borrower shall immediately pay to the   Administrative Agent, subject to Section 8.4 hereof, the full amount then available for drawing   under all outstanding Letters of Credit, the Borrower acknowledging that the Lenders would not   have an adequate remedy at law for failure by the Borrower to honor any such demand and that   the Lenders, and the Administrative Agent on their behalf, shall have the right to require the   Borrower to specifically perform such undertaking whether or not any draws or other demands   for payment have been made under any of the Letters of Credit.    Section 8.4. Collateral for Undrawn Letters of Credit.  (a) If the payment or prepayment   of the amount available for drawing under any or all outstanding Letters of Credit is required   under Section 8.2 or 8.3 above, the Borrower shall forthwith pay the amount required to be so   prepaid, to be held by the Administrative Agent as provided in subsection (b) below.    (b) All amounts prepaid pursuant to subsection (a) above shall be held by the   Administrative Agent in one or more separate collateral accounts (each such account, and the   credit balances, properties and any investments from time to time held therein, and any   substitutions for such account, any certificate of deposit or other instrument evidencing any of   the foregoing and all proceeds of and earnings on any of the foregoing being collectively called   the “Account”) as security for, and for application by the Administrative Agent (to the extent   available) to, the reimbursement of any payment under any Letter of Credit then or thereafter   made by the Administrative Agent, and to the payment of the unpaid balance of any Loans and   all other Obligations.  The Account shall be held in the name of and subject to the exclusive   dominion and control of the Administrative Agent for the benefit of the Administrative Agent,   the L/C Issuers and the Lenders.  The Borrower hereby grants the Administrative Agent, for the     

 

   -70-   benefit of the Administrative Agent, the L/C Issuers and the Lenders, a Lien on the Account and   all credit balances and investments held therein.  If and when requested by the Borrower, the   Administrative Agent shall invest funds held in the Account from time to time in direct   obligations of, or obligations the principal of and interest on which are unconditionally   guaranteed by, the United States of America with a remaining maturity of one year or less,   provided that the Administrative Agent is irrevocably authorized to sell investments held in the   Account when and as required to make payments out of the Account for application to amounts   due and owing from the Borrower to the Administrative Agent, the L/C Issuers or Lenders;   provided, however, that if (i) the Borrower shall have made payment of all Obligations, (ii) all   relevant preference or other disgorgement periods relating to the receipt of such payments have   passed, and (iii) no Letters of Credit, Revolving Credit Commitments, Loans, Swingline Loans   or other Obligations remain outstanding hereunder, then the Administrative Agent shall repay to   the Borrower any remaining amounts held in the Account.    Section 8.5. Application of Payments.  Anything contained herein to the contrary   notwithstanding (including, without limitation, Section 1.9(b) hereof), all payments and   collections received in respect of the Obligations by the Administrative Agent or any of the   Lenders after acceleration or the final maturity of the Obligations or termination of the   Revolving Credit Commitments as a result of an Event of Default shall be remitted to the   Administrative Agent and distributed as follows:    (a) first, to the payment of any outstanding costs and expenses incurred by the   Administrative Agent in protecting, preserving or enforcing rights under the Credit   Documents, and in any event including all costs and expenses of a character which the   Borrower has agreed to pay the Administrative Agent under Section 8.7 hereof (such   funds to be retained by the Administrative Agent for its own account unless it has   previously been reimbursed for such costs and expenses by the Lenders, in which event   such amounts shall be remitted to the Lenders to reimburse them for payments   theretofore made to the Administrative Agent);    (b) second, to the payment of any outstanding costs and expenses incurred by   any Lender that the Borrower has agreed to pay under Section 8.7 hereof;    (c) third, to the payment of the Swingline Loans, both for principal and   accrued but unpaid interest;    (d) fourth, to the payment of any outstanding interest and fees due under the   Credit Documents to be allocated pro rata in accordance with the aggregate unpaid   amounts owing to each holder thereof;    (e) fifth, to the payment of principal on the Loans (other than Swingline   Loans), unpaid Reimbursement Obligations, together with amounts to be held by the   Administrative Agent as collateral security for any outstanding L/C Obligations pursuant   to Section 8.4 hereof (until the Administrative Agent is holding an amount of cash equal   to the then outstanding amount of all such L/C Obligations), the aggregate amount paid     

 

   -71-   to, or held as collateral security for, the Lenders and L/C Issuer to be allocated pro rata in   accordance with the aggregate unpaid amounts owing to each holder thereof;     (f) sixth, to the payment of all other unpaid Obligations to be allocated pro   rata in accordance with the aggregate unpaid amounts owing to each holder thereof; and    (g) finally, to the Borrower or whoever else may be lawfully entitled thereto.    Section 8.6. Notice of Default.  The Administrative Agent shall give notice to the   Borrower under Section 8.1(c) hereof promptly upon being requested to do so by any Lender and   shall thereupon notify all the Lenders thereof.    Section 8.7. Expenses.  The Borrower agrees to pay to the Administrative Agent, each   L/C Issuer and each Lender, and any other holder of any Obligation outstanding hereunder, all   expenses reasonably incurred or paid by the Administrative Agent, such L/C Issuer and such   Lender or any such holder, including reasonable attorneys’ fees and court costs, in connection   with any Default or Event of Default by the Borrower hereunder or in connection with the   enforcement of any of the Credit Documents (including all such costs and expenses incurred in   connection with any proceeding under the United States Bankruptcy Code involving the Parent   or any of its Subsidiary as a debtor thereunder).   SECTION 9. CHANGE IN CIRCUMSTANCES.    Section 9.1. Change of Law.  (a) Notwithstanding any other provisions of this   Agreement or any other Credit Document, if at any time any Change in Law makes it unlawful   for any Lender to make or continue to maintain Eurocurrency Loans or to perform its obligations   as contemplated hereby, such Lender shall promptly give notice thereof to the Borrower and   such Lender’s obligations to make or maintain Eurocurrency Loans under this Agreement shall   terminate until it is no longer unlawful for such Lender to make or maintain Eurocurrency Loans.    The Borrower shall prepay on demand the outstanding principal amount of any such affected   Eurocurrency Loans, together with all interest accrued thereon at a rate per annum equal to the   interest rate applicable to such Loan; provided, however, subject to all of the terms and   conditions of this Agreement, the Borrower may then elect to borrow the principal amount of the   affected Eurocurrency Loans from such Lender by means of Domestic Rate Loans from such   Lender, which Domestic Rate Loans shall not be made ratably by the Lenders but only from such   affected Lender.    (b) If, in any applicable jurisdiction, the Administrative Agent, any L/C Issuer or any   Lender determines that any law has made it unlawful, or that any Governmental Authority has   asserted that it is unlawful, for the Administrative Agent, any L/C Issuer or any Lender to (i)   perform any of its obligations hereunder or under any other Credit Document, (ii) to fund or   maintain its participation in any Loan or (iii) issue, make, maintain, fund or charge interest with   respect to any Obligations of the Borrower  or any Guarantor who is organized under the laws of   a jurisdiction other than the United States, a State thereof or the District of Columbia such   Person shall promptly notify the Administrative Agent, then, upon the Administrative Agent   notifying the Borrower and Parent, and until such notice by such Person is revoked, any     

 

   -72-   obligation of such Person to issue, make, maintain, fund or charge interest with respect to any   such Obligation shall be suspended, and to the extent required by applicable law, cancelled.    Upon receipt of such notice, the Borrower and Guarantors shall, (A) repay that Person's   participation in the Loans or other applicable Obligations on the last day of the Interest Period   for each Loan or other Obligation occurring after the Administrative Agent has notified the   Borrower or, if earlier, the date specified by such Person in the notice delivered to the   Administrative Agent (being no earlier than the last day of any applicable grace period permitted   by applicable law) and (B) take all reasonable actions requested by such Person to mitigate or   avoid such illegality.    Section 9.2. Unavailability of Deposits or Inability to Ascertain, or Inadequacy of,   LIBOR.  If on or prior to the first day of any Interest Period for any Borrowing of Eurocurrency   Loans:    (a) the Administrative Agent determines that deposits in U.S. Dollars or the   applicable Alternative Currency (in the applicable amounts) are not being offered to it in   the eurocurrency interbank market for such Interest Period, or that by reason of   circumstances affecting the interbank eurocurrency market adequate and reasonable   means do not exist for ascertaining the applicable LIBOR, or    (b) the Required Lenders reasonably determine and so advise the   Administrative Agent that (i) LIBOR as reasonably determined by the Administrative   Agent will not adequately and fairly reflect the cost to such Lenders of funding their   Eurocurrency Loans for such Interest Period or (ii) that the making or funding of   Eurocurrency Loans becomes impracticable,    then the Administrative Agent shall forthwith give notice thereof to the Borrower and the   Lenders, whereupon until the Administrative Agent notifies the Borrower that the circumstances   giving rise to such suspension no longer exist, the obligations of the Lenders to make   Eurocurrency Loans in the currency so affected shall be suspended; provided that such   suspension shall have no effect on any Eurocurrency Loan then outstanding.    Section 9.3. Increased Cost and Reduced Return.  (a) If any Change in Law:    (i) shall subject any Lender (or its Lending Office) or any L/C Issuer to any   tax, duty or other charge with respect to its Eurocurrency Loans, its Notes, its Letter(s) of   Credit, or its participation in any thereof, any Reimbursement Obligations owed to it or   its obligation to make Eurocurrency Loans, issue a Letter of Credit, or to participate   therein, or shall change the basis of taxation of payments to any Lender (or its Lending   Office) or any L/C Issuer of the principal of or interest on its Eurocurrency Loans,   Letter(s) of Credit, or participations therein or any other amounts due under this   Agreement in respect of its Eurocurrency Loans, Letter(s) of Credit, or participations   therein, any Reimbursement Obligations owed to it, or its obligation to make   Eurocurrency Loans, issue a Letter of Credit, or acquire participations therein (except for   changes in the rate of tax on the overall net income or profits of such Lender (or its   Lending Office) or such L/C Issuer imposed by the jurisdiction in which such Lender (or     

 

   -73-   its Lending Office) or such L/C Issuer is incorporated or in which such Lender’s or   L/C Issuer’s principal executive office or (Lending Office) is located); or    (ii) shall impose, modify or deem applicable any reserve, special deposit, or   similar requirement (including, without limitation, any such requirement imposed by the   Board of Governors of the Federal Reserve System, but excluding with respect to any   Eurocurrency Loans any such requirement included in an applicable Eurocurrency   Reserve Percentage) against assets of, deposits with or for the account of, or credit   extended by, any Lender (or its Lending Office) or any L/C Issuer or shall impose on any   Lender (or its Lending Office) or any L/C Issuer or on the interbank market any other   condition affecting its Eurocurrency Loans, its Notes, its Letter(s) of Credit, or its   participation in any thereof, any Reimbursement Obligation owed to it, or its obligation   to make Eurocurrency Loans, to issue a Letter of Credit, or to participate therein;   and the result of any of the foregoing is to increase the cost to such Lender (or its Lending   Office) or such L/C Issuer of making or maintaining any Eurocurrency Loan, issuing or   maintaining a Letter of Credit, or participating therein, or to reduce the amount of any sum   received or receivable by such Lender (or its Lending Office) or such L/C Issuer under this   Agreement or under its Notes with respect thereto, by an amount deemed by such Lender or such   L/C Issuer to be material, then, within fifteen (15) days after demand by such Lender or such   L/C Issuer (with a copy to the Administrative Agent), the Borrower shall be obligated to pay to   such Lender or such L/C Issuer such additional amount or amounts as will compensate such   Lender or such L/C Issuer for such increased cost or reduction; provided, however, that such   Lender or such L/C Issuer shall promptly notify the Borrower of an event which might cause it to   seek compensation, and the Borrower shall be obligated to pay only such compensation which is   incurred or which arises after the date ninety (90) days prior to the date such notice is given;   provided further that, if such event giving rise to such increased costs or reductions is   retroactive, then the 90-day period referred to above shall be extended to include the period of   retroactive effect thereof, but not more than an additional 180 days and not for any period prior   to the Effective Date.  In the event any law, rule, regulation or interpretation described above is   revoked, declared invalid or inapplicable or is otherwise rescinded, and as a result thereof a   Lender or an L/C Issuer is determined to be entitled to a refund from the applicable authority for   any amount or amounts which were paid or reimbursed by the Borrower to such Lender or such   L/C Issuer hereunder, such Lender or such L/C Issuer shall refund such amount or amounts to   the Borrower without interest.    (b) If any Lender, any L/C Issuer, or the Administrative Agent shall have determined   that any Change in Law affecting such Lender or such L/C Issuer or any lending office of such   Lender or such Lender’s or such L/C Issuer’s holding company, if any, regarding capital or   liquidity requirements, has had the effect of reducing the rate of return on such Lender’s or such   L/C Issuer’s or such corporation’s capital as a consequence of its obligations hereunder to a level   below that which such Lender or such L/C Issuer or such corporation could have achieved but   for such Change in Law (taking into consideration such Lender’s or such L/C Issuer’s or such   corporation’s policies with respect to capital adequacy or liquidity) by an amount deemed by   such Lender or such L/C Issuer or such corporation to be material, then from time to time, within   15 days after demand by such Lender or such L/C Issuer (with a copy to the Administrative     

 

   -74-   Agent), the Borrower shall pay to such Lender or such L/C Issuer, as applicable, such additional   amount or amounts as will compensate such Lender or such L/C Issuer or such corporation for   such reduction; provided, however, that such Lender or such L/C Issuer shall promptly notify the   Borrower of an event which might cause it to seek compensation, and the Borrower shall be   obligated to pay only such compensation which is incurred or which arises after the date ninety   (90) days prior to the date such notice is given; provided further that if such event giving rise to   such reduced return is retroactive then the 90-day period referred to above shall be extended to   include the period of retroactive effect thereof, but not more than an additional 180 days and not   for any period prior to the Effective Date.    (c) Each Lender or each L/C Issuer that determines to seek compensation under this   Section 9.3 shall notify the Borrower and the Administrative Agent of the circumstances that   entitle the Lender or the L/C Issuer to such compensation pursuant to this Section 9.3 and will   designate a different Lending Office if such designation will avoid the need for, or reduce the   amount of, such compensation and will not, in the reasonable judgment of such Lender or such   L/C Issuer, be otherwise disadvantageous to such Lender or such L/C Issuer.  A certificate of any   Lender or any L/C Issuer claiming compensation under this Section 9.3 and setting forth the   additional amount or amounts to be paid to it hereunder shall be conclusive in the absence of   manifest error.  In determining such amount, such Lender or such L/C Issuer may use any   reasonable averaging and attribution methods.    Section 9.4. Lending Offices.  Each Lender may, at its option, elect to make its Loans   hereunder at the branch, office or affiliate specified on the appropriate signature page hereof   (each a “Lending Office”) for each type of Loan or Swingline Loans available hereunder or at   such other of its branches, offices or affiliates as it may from time to time elect and  designate in   a written notice to the Borrower and the Administrative Agent.    Section 9.5. Discretion of Lender as to Manner of Funding.  Notwithstanding any other   provision of this Agreement, each Lender shall be entitled to fund and maintain its funding of all   or any part of its Loans or Swingline Loans in any manner it sees fit, it being understood,   however, that for the purposes of this Agreement all determinations hereunder shall be made as if   each Lender had actually funded and maintained each Eurocurrency Loan through the purchase   of deposits of U.S. Dollars or the applicable Alternative Currency in the eurocurrency interbank   market having a maturity corresponding to such Loan’s Interest Period and bearing an interest   rate equal to LIBOR for such Interest Period.   SECTION 10. THE ADMINISTRATIVE AGENT.    Section 10.1. Appointment and Authorization of Administrative Agent.  Each Lender   hereby appoints Bank of Montreal as the Administrative Agent under the Credit Documents and   hereby authorizes the Administrative Agent to take such action as Administrative Agent on its   behalf and to exercise such powers under the Credit Documents as are delegated to the   Administrative Agent by the terms thereof, together with such powers as are reasonably   incidental thereto.  The provisions of this Section 10 are solely for the benefit of the   Administrative Agent, the Lenders and the L/C Issuers, and neither the Borrower nor any   Guarantor shall have rights as a third-party beneficiary of any of such provisions.  It is     

 

   -75-   understood and agreed that the use of the term “agent” herein or in any other Credit Documents   (or any other similar term) with reference to the Administrative Agent is not intended to connote   any fiduciary or other implied (or express) obligations arising under agency doctrine of any   applicable law.  Instead such term is used as a matter of market custom, and is intended to create   or reflect only an administrative relationship between contracting parties.    Section 10.2. Administrative Agent and its Affiliates.  The Person serving as the   Administrative Agent shall have the same rights and powers under this Agreement and the other   Credit Documents as any other Lender and may exercise or refrain from exercising such rights   and power as though it were not the Administrative Agent, and the Person serving as the   Administrative Agent and its affiliates may accept deposits from, lend money to, and generally   engage in any kind of business with the Borrower or any Affiliate of the Borrower as if it were   not the Administrative Agent under the Credit Documents.  The term “Lender” as used herein   and in all other Credit Documents, unless the context otherwise clearly requires, includes the   Person serving as the Administrative Agent in its individual capacity as a Lender.  References in   Section 1 hereof to the Administrative Agent’s Loans, or to the amount owing to the Person   serving as the Administrative Agent for which an interest rate is being determined, refer to the   Person serving as the Administrative Agent in its individual capacity as a Lender.    Section 10.3. Action by Administrative Agent.  If the Administrative Agent receives from   the Parent a written notice of an Event of Default pursuant to Section 7.6(c) hereof or a Net Cash   Flow Leverage Ratio Increase election pursuant to Section 7.15 hereof, the Administrative Agent   shall promptly give each of the Lenders written notice thereof.  The obligations of the   Administrative Agent under the Credit Documents are only those expressly set forth therein.    Without limiting the generality of the foregoing, the Administrative Agent shall not be required   to take any action hereunder with respect to any Default or Event of Default, except as expressly   provided in Sections 8.2 and 8.6 hereof.  In no event, however, shall the Administrative Agent be   required to take any action in violation of applicable law or of any provision of any Credit   Document, and the Administrative Agent shall in all cases be fully justified in failing or refusing   to act hereunder or under any other Credit Document unless it shall be first indemnified to its   reasonable satisfaction by the Lenders against any and all costs, expense, and liability which may   be incurred by it by reason of taking or continuing to take any such action.  The Administrative   Agent shall be entitled to assume that no Default or Event of Default exists unless notified to the   contrary by a Lender, the Parent or the Borrower.  In all cases in which this Agreement and the   other Credit Documents do not require the Administrative Agent to take certain actions, the   Administrative Agent shall be fully justified in using its discretion in failing to take or in taking   any action hereunder and thereunder.  Any instructions of the Required Lenders, or of any other   group of Lenders called for under the specific provisions of the Credit Documents, in each case,   shall be binding upon all the Lenders and the holders of the Obligations.    Section 10.4. Consultation with Experts.  The Administrative Agent may consult with   legal counsel, independent public accountants and other experts selected by it and shall not be   liable for any action taken or omitted to be taken by it in good faith in accordance with the   advice of such counsel, accountants or experts.     

 

   -76-    Section 10.5. Liability of Administrative Agent; Credit Decision.  Neither the   Administrative Agent nor any of its directors, officers, agents, or employees shall be liable for   any action taken or not taken by it in connection with the Credit Documents (i) with the consent   or at the request of the Required Lenders or all of the Lenders, as applicable, or (ii) in the   absence of its own gross negligence or willful misconduct.  Neither the Administrative Agent nor   any of its directors, officers, agents or employees shall be responsible for or have any duty to   ascertain, inquire into or verify (i) any statement, warranty or representation made in connection   with this Agreement, any other Credit Document or any Credit Event; (ii) the performance or   observance of any of the covenants or agreements of the Borrower or any Guarantor contained   herein or in any other Credit Document; (iii) the satisfaction of any condition specified in   Section 6 hereof, except receipt of items required to be delivered to the Administrative Agent; or   (iv) the validity, effectiveness, genuineness, enforceability, perfection, value, worth or   collectability hereof or of any other Credit Document or of any other documents or writing   furnished in connection with any Credit Document; and the Administrative Agent makes no   representation of any kind or character with respect to any such matter mentioned in this   sentence.  The Administrative Agent may execute any of its duties under any of the Credit   Documents by or through employees, agents, and attorneys-in-fact and shall not be answerable to   the Lenders, the L/C Issuers, the Borrower, or any Guarantor or any other Person for the default   or misconduct of any such agents or attorneys-in-fact selected with reasonable care.  The   Administrative Agent shall not incur any liability by acting in reliance upon any notice, consent,   certificate, other document or statement (whether written or oral) reasonably believed by it to be   genuine or to be sent by the proper party or parties.  In particular and without limiting any of the   foregoing, the Administrative Agent shall have no responsibility for confirming the accuracy of   any Compliance Certificate or other document or instrument received by it under the Credit   Documents.  The Administrative Agent may treat the payee of any Obligation as the holder   thereof until written notice of transfer shall have been filed with the Administrative Agent signed   by such payee in form satisfactory to the Administrative Agent.  Each Lender and each   L/C Issuer acknowledges that it has independently and without reliance on the Administrative   Agent or any other Lender or any L/C Issuer, and based upon such information, investigations   and inquiries as it deems appropriate, made its own credit analysis and decision to extend credit   to the Borrower in the manner set forth in the Credit Documents.  It shall be the responsibility of   each Lender and each L/C Issuer to keep itself informed as to the creditworthiness of the   Borrower and the Guarantors, and the Administrative Agent shall have no liability to any Lender   or the L/C Issuer with respect thereto.    Section 10.6. Indemnity.  The Lenders shall ratably, in accordance with their respective   Percentages, indemnify and hold the Administrative Agent, and its directors, officers, employees,   agents and representatives harmless from and against any liabilities, losses, costs or expenses   suffered or incurred by it under any Credit Document or in connection with the transactions   contemplated thereby, regardless of when asserted or arising, except to the extent they are   promptly reimbursed for the same by the Borrower and except to the extent that any event giving   rise to a claim was caused by the gross negligence or willful misconduct of the party seeking to   be indemnified.  The obligations of the Lenders under this Section 10.6 shall survive termination   of this Agreement.  The Administrative Agent shall be entitled to offset amounts received for the   account of a Lender under this Agreement against unpaid amounts due from such Lender to the   Administrative Agent, any L/C Issuer or Swingline Lender hereunder (whether as fundings of     

 

   -77-   participations, indemnities or otherwise), but shall not be entitled to offset against amounts owed   to the Administrative Agent, any L/C Issuer or Swingline Lender by any Lender arising outside   of this Agreement and the other Credit Documents.    Section 10.7. Resignation of Administrative Agent and Successor Administrative Agent.    (a) The Administrative Agent may at any time give notice of its resignation to the Lenders, the   L/C Issuers and the Borrower.  Upon receipt of any such notice of resignation, the Required   Lenders shall have the right, with the consent Borrower, to appoint a successor, which shall be a   bank with an office in the United States of America, or an Affiliate of any such bank with an   office in the United States of America; provided that the Borrower’s consent shall not be   required upon the occurrence and during the continuance of an Event of Default.  If no such   successor shall have been so appointed by the Required Lenders and shall have accepted such   appointment within thirty (30) days after the retiring Administrative Agent gives notice of its   resignation (or such earlier day as shall be agreed by the Required Lenders) (the “Resignation   Effective Date”), then the retiring Administrative Agent may (but shall not be obligated to), on   behalf of the Lenders and the L/C Issuers, appoint a successor Administrative Agent meeting the   qualifications set forth above.  Whether or not a successor has been appointed, such resignation   shall become effective in accordance with such notice on the Resignation Effective Date.    (b) If the Person serving as Administrative Agent is a Defaulting Lender pursuant to   clause (d) of the definition thereof, the Required Lenders may, to the extent permitted by   applicable law, by notice in writing to the Borrower and such Person remove such Person as   Administrative Agent and, in consultation with the Borrower, appoint a successor.  If no such   successor shall have been so appointed by the Required Lenders and shall have accepted such   appointment within 30 days (or such earlier day as shall be agreed by the Required Lenders) (the   “Removal Effective Date”), then such removal shall nonetheless become effective in accordance   with such notice on the Removal Effective Date.    (c) With effect from the Resignation Effective Date, (i) the retiring or removed   Administrative Agent shall be discharged from its duties and obligations hereunder and under the   other Credit Documents, and (ii) except for any indemnity payments owed to the retiring or   removed Administrative Agent, all payments, communications and determinations provided to   be made by, to or through the Administrative Agent shall instead be made by or to each Lender   and L/C Issuer directly, until such time, if any, as the Required Lenders appoint a successor   Administrative Agent as provided for above.  Upon the acceptance of a successor’s appointment   as Administrative Agent hereunder, such successor shall succeed to and become vested with all   of the rights, powers, privileges and duties of the retiring Administrative Agent (other than any   rights to indemnity payments or other amounts owed to the retiring or removed Administrative   Agent), and the retiring or removed Administrative Agent shall be discharged from all of its   duties and obligations hereunder or under the other Credit Documents.  The fees payable by the   Borrower to a successor Administrative Agent shall be the same as those payable to its   predecessor unless otherwise agreed between the Borrower and such successor.  After the   retiring or removed Administrative Agent’s resignation hereunder and under the other Credit   Documents, the provisions of this Section 10 and Section 12.15 hereof shall continue in effect   for the benefit of such retiring or removed Administrative Agent, its sub-agents and their     

 

   -78-   respective related parties in respect of any actions taken or omitted to be taken by any of them   while the retiring  or removed Administrative Agent was acting as Administrative Agent.    Section 10.8. L/C Issuers and Swingline Lender.  Each L/C Issuer shall act on behalf of   the Lenders with respect to any Letters of Credit issued by it and the documents associated   therewith, and the Swingline Lender shall act on behalf of the Lenders with respect to the   Swingline Loans made hereunder.  Each L/C Issuer and the Swingline Lender shall each have all   of the benefits and immunities (i) provided to the Administrative Agent in this Section 10 with   respect to any acts taken or omissions suffered by such L/C Issuer in connection with Letters of   Credit issued by it or proposed to be issued by it and the Applications pertaining to such Letters   of Credit or by the Swingline Lender in connection with Swingline Loans made or to be made   hereunder as fully as if the term “Administrative Agent”, as used in this Section 10, included the   L/C Issuers and the Swingline Lender with respect to such acts or omissions and (ii) as   additionally provided in this Agreement with respect to such L/C Issuer or Swingline Lender, as   applicable; provided that with respect to such unpaid amounts owed to any L/C Issuer or   Swingline Lender solely in its capacity as such, only the Lenders party to the Revolving Facility   shall be required to pay such unpaid amounts, such payment to be made severally among them   based on such Lenders’ Revolver Percentage (determined as of the time that the applicable   unreimbursed expense or indemnity payment is sought based on each such Lender’s share of the   Revolving Credit Exposure at such time).   Any resignation by the Person then acting as Administrative Agent pursuant to   Section 10.7 hereof shall also constitute its resignation or the resignation of its Affiliate as an   L/C Issuer and Swingline Lender except as it may otherwise agree.  If such Person then acting as   an L/C Issuer so resigns, it shall retain all the rights, powers, privileges and duties of the   L/C Issuer hereunder with respect to all Letters of Credit outstanding as of the effective date of   its resignation as an L/C Issuer and all L/C Obligations with respect thereto, including the right   to require the Lenders to make Revolving Loans or fund risk participations in Reimbursement   Obligations pursuant to Section 1.3 hereof.  If such Person then acting as Swingline Lender   resigns, it shall retain all the rights of the Swingline Lender provided for hereunder with respect   to Swingline Loans made by it and outstanding as of the effective date of such resignation,   including the right to require the Lenders to make Loans or fund risk participations in   outstanding Swingline Loans pursuant to Section 1.2(b) hereof.  Upon the appointment by the   Borrower of a successor L/C Issuer or Swingline Lender hereunder (which successor shall in all   cases be a Lender other than a Defaulting Lender), (i) such successor shall succeed to and   become vested with all of the rights, powers, privileges and duties of the retiring L/C Issuer or   Swingline Lender, as applicable (other than any rights to indemnity payments or other amounts   that remain owing to the retiring L/C Issuer or Swingline Lender), and (ii) the retiring L/C Issuer   and Swingline Lender shall be discharged from all of their respective duties and obligations   hereunder or under the other Credit Documents other than with respect to its outstanding Letters   of Credit and Swingline Loans, and (iii) upon the request of the resigning L/C Issuer, the   successor L/C Issuer shall issue letters of credit in substitution for the Letters of Credit, if any,   outstanding at the time of such succession or make other arrangements satisfactory to the   resigning L/C Issuer to effectively assume the obligations of the resigning L/C Issuer with   respect to such Letters of Credit.     

 

   -79-    Section 10.9. Authorization to Release Guaranties.  The Administrative Agent is hereby   irrevocably authorized by each of the Lenders, each L/C Issuer, and their Affiliates to release any   Subsidiary from its obligations as a Guarantor if such Person ceases to be a Subsidiary as a result   of a transaction permitted under the Credit Documents.  Upon the Administrative Agent’s   request, the Required Lenders will confirm in writing the Administrative Agent’s authority to   release any Person from its obligations as a Guarantor under the Credit Documents.    Section 10.10. Authorization of Administrative Agent to File Proofs of Claim  In case of   the pendency of any proceeding under any Debtor Relief Law or any other judicial proceeding   relative to the Borrower or any Guarantor, the Administrative Agent (irrespective of whether the   principal of any Loan or L/C Obligation shall then be due and payable as herein expressed or by   declaration or otherwise and irrespective of whether the Administrative Agent shall have made   any demand on the Borrower) shall be entitled and empowered, by intervention in such   proceeding or otherwise:    (a) to file and prove a claim for the whole amount of the principal and interest   owing and unpaid in respect of the Loans, L/C Obligations and all other Obligations that   are owing and unpaid and to file such other documents as may be necessary or advisable   in order to have the claims of Lenders, the L/C Issuers and the Administrative Agent   (including any claim for the reasonable compensation, expenses, disbursements and   advances of the Lenders, the L/C Issuers and the Administrative Agent and their   respective agents and counsel and all other amounts due the Lenders, the L/C Issuers and   the Administrative Agent under the Loan Documents including, but not limited to,   Sections 2.1, 9.3, 1.12, and 12.15) allowed in such judicial proceeding; and    (b) to collect and receive any monies or other property payable or deliverable   on any such claims and to distribute the same;   and any custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar official in   any such judicial proceeding is hereby authorized by each Lender and each L/C Issuer to make   such payments to the Administrative Agent and, in the event that the Administrative Agent shall   consent to the making of such payments directly to the Lenders and the L/C Issuers, to pay to the   Administrative Agent any amount due for the reasonable compensation, expenses, disbursements   and advances of the Administrative Agent and its agents and counsel, and any other amounts due   the Administrative Agent under Sections 2.1 and 12.15.  Nothing contained herein shall be   deemed to authorize the Administrative Agent to authorize or consent to or accept or adopt on   behalf of any Lender or L/C Issuer any plan of reorganization, arrangement, adjustment or   composition affecting the Obligations or the rights of any Lender or L/C Issuer or to authorize   the Administrative Agent to vote in respect of the claim of any Lender or L/C Issuer in any such   proceeding.    Section 10.11. Designation of Additional Agents.  The Administrative Agent shall have the   continuing right, for purposes hereof, at any time and from time to time to designate one or more   of the Lenders  (and/or its or their Affiliates) as “syndication agents,” “documentation agents,”   “book runners,” “lead arrangers,” “arrangers,” or other designations for purposes hereto, but such     

 

   -80-   designation shall have no substantive effect, and such Lenders and their Affiliates shall have no   additional powers, duties or responsibilities as a result thereof.   SECTION 11. THE GUARANTEES.    Section 11.1. The Guarantees.  To induce the Lenders and the L/C Issuers to provide the   credits described herein and in consideration of benefits expected to accrue to each Guarantor by   reason of the Revolving Credit Commitments and for other good and valuable consideration,   receipt of which is hereby acknowledged, each Guarantor hereby unconditionally and   irrevocably guarantees jointly and severally to the Administrative Agent, the Lenders, the   L/C Issuers, and each other holder of an Obligation, the due and punctual payment of all present   and future indebtedness of the Borrower evidenced by or arising out of the Credit Documents,   including, but not limited to, the due and punctual payment of principal of and interest on the   Loans, Swingline Loans and Reimbursement Obligations and the due and punctual payment of   all other Obligations now or hereafter owed by the Borrower under the Credit Documents as and   when the same shall become due and payable, whether at stated maturity, by acceleration or   otherwise, according to the terms hereof and thereof (including all interest, costs, fees, and   charges after the entry of an order for relief against the Borrower, Parent  or such other obligor in   a case under the United States Bankruptcy Code or any similar proceeding, whether or not such   interest, costs, fees and charges would be an allowed claim against the Borrower, Parent or any   such other obligor in any such proceeding).  In case of failure by the Borrower or other obligor   punctually to pay any indebtedness or other Obligations guaranteed hereby, each Guarantor   hereby unconditionally agrees jointly and severally to make such payment or to cause such   payment to be made punctually as and when the same shall become due and payable, whether at   stated maturity, by acceleration or otherwise, and as if such payment were made by the   Borrower, Parent or such other obligor.      Section 11.2. Guarantee Unconditional.  The obligations of each Guarantor as a   guarantor under this Section 11 shall constitute a guaranty of payment and not collection and   shall be unconditional and absolute and, without limiting the generality of the foregoing, shall   not be released, discharged or otherwise affected by:    (a) any extension, renewal, settlement, compromise, waiver or release in   respect of any obligation of the Borrower or of any other Guarantor under this Agreement   or any other Credit Document or by operation of law or otherwise;    (b) any modification or amendment of or supplement to this Agreement or   any other Credit Document;    (c) any change in the corporate existence, structure or ownership of, or any   insolvency, bankruptcy, reorganization or other similar proceeding affecting, the   Borrower, any other Guarantor, or any of their respective assets, or any resulting release   or discharge of any obligation of the Borrower or of any other Guarantor contained in any   Credit Document;     

 

   -81-    (d) the existence of any claim, set-off or other rights which the Guarantor may   have at any time against the Administrative Agent, any Lender, any L/C Issuer or any   other Person, whether or not arising in connection herewith;    (e) any failure to assert, or any assertion of, any claim or demand or any   exercise of, or failure to exercise, any rights or remedies against the Borrower, any other   Guarantor or any other Person or Property;    (f) any application of any sums by whomsoever paid or howsoever realized to   any obligation of the Borrower, regardless of what obligations of the Borrower remain   unpaid;    (g) any invalidity or unenforceability relating to or against the Borrower or   any other Guarantor for any reason of this Agreement or of any other Credit Document or   any provision of applicable law or regulation purporting to prohibit the payment by the   Borrower or any other Guarantor of the principal of or interest on any Loan, Swingline   Loan, or any Reimbursement Obligation or any other amount payable by it under the   Credit Documents; or    (h) any other act or omission to act or delay of any kind by the Administrative   Agent, any Lender, any L/C Issuer, or any other Person or any other circumstance   whatsoever that might, but for the provisions of this paragraph, constitute a legal or   equitable discharge of the obligations of a Guarantor under this Section 11 or the   Borrower under this Agreement.    Section 11.3. Discharge Only Upon Payment in Full; Reinstatement in Certain   Circumstances.  Each Guarantor’s obligations under this Section 11 shall remain in full force and   effect until the Revolving Credit Commitments are terminated and the principal of and interest   on the Obligations and all other amounts payable by the Borrower under this Agreement and all   other Credit Documents shall have been paid in full or such Guarantor is released pursuant to   Section 11.9.  If at any time any payment of the principal of or interest on any Obligation or any   other amount payable by the Borrower under the Credit Documents is rescinded or must be   otherwise restored or returned upon the insolvency, bankruptcy or reorganization of the   Borrower or of a Guarantor, or otherwise, each Guarantor’s obligations under this Section 11   with respect to such payment shall be reinstated at such time as though such payment had   become due but had not been made at such time.    Section 11.4. Waivers.  (a)  General.  Each Guarantor irrevocably waives acceptance   hereof, presentment, demand, protest and any notice not provided for herein, as well as any   requirement that at any time any action be taken by the Administrative Agent, any Lender, any   L/C Issuer, or any other Person against the Borrower, another Guarantor or any other Person.    (b) Subrogation and Contribution.  Unless and until the Obligations have been fully   paid and satisfied and the Revolving Credit Commitments have terminated, each Guarantor   hereby irrevocably waives any claim or other right it may now or hereafter acquire against the   Borrower or any other Guarantor that arises from the existence, payment, performance or     

 

   -82-   enforcement of such Guarantor’s obligations under this Section 11 or any other Credit   Document, including, without limitation, any right of subrogation, reimbursement, exoneration,   contribution, indemnification, or any right to participate in any claim or remedy of the   Administrative Agent, any Lender, any L/C Issuer, or any other holder of an Obligation against   the Borrower or any other Guarantor whether or not such claim, remedy or right arises in equity   or under contract, statute or common law, including, without limitation, the right to take or   receive from the Borrower or any other Guarantor directly or indirectly, in cash or other property   or by set-off or in any other manner, payment or security on account of such claim or other right.    If any amount shall be paid to a Guarantor on account of such subrogation rights at any time   prior to the later of (x) the payment in full of the Obligations and all other amounts payable by   the Borrower hereunder and the other Credit Documents and (y) the termination of the Revolving   Credit Commitments and expiration of all Letters of Credit, such amount shall be held in trust for   the benefit of the Administrative Agent and the Lenders and the L/C Issuers (and their Affiliates)   and shall forthwith be paid to the Administrative Agent for the benefit of the Lenders (and their   Affiliates) or be credited and applied upon the Obligations, whether matured or unmatured, in   accordance with the terms of this Agreement.    Section 11.5. Limit on Recovery.  Notwithstanding any other provision hereof, the right to   recovery of the holders of the Obligations against each Guarantor under this Section 11 shall not   exceed $1.00 less than the lowest amount which would render such Guarantor’s obligations   under this Section 11 void or voidable under applicable law, including without limitation   fraudulent conveyance law.    Section 11.6. Stay of Acceleration.  If acceleration of the time for payment of any amount   payable by the Borrower or any other obligor under this Agreement or any other Credit   Document is stayed upon the insolvency, bankruptcy or reorganization of the Borrower or such   other obligor, all such amounts otherwise subject to acceleration under the terms of this   Agreement or the other Credit Documents shall nonetheless be payable jointly and severally by   the Guarantors hereunder forthwith on demand by the Administrative Agent made at the request   of the Required Lenders.    Section 11.7. Benefit to Guarantors.  The Borrower and the Guarantors are engaged in   related businesses and integrated to such an extent that the financial strength and flexibility of   the Borrower has a direct impact on the success of each Guarantor.  Each Guarantor will derive   substantial direct and indirect benefit from the extensions of credit hereunder.    Section 11.8. Guarantor Covenants.  Each Guarantor shall take such action as the   Borrower is required by this Agreement to cause such Guarantor to take, and shall refrain from   taking such action as the Borrower is required by this Agreement to prohibit such Guarantor   from taking.    Section 11.9 Release of Guarantors.  Any Guarantor shall be released from its   obligations under this Section 11 if such Guarantor ceases to be a Subsidiary as a result of a   transaction or a series of transactions permitted under this Agreement.     

 

   -83-    Section 11.10 German Guarantor Limitations.      (a) The Lenders, acting through the Administrative Agent, agree not to enforce against   a Guarantor incorporated in Germany and constituted in the form of a GmbH (a "German GmbH   Guarantor") or GmbH & Co. KG ((a "German GmbH & Co. KG Guarantor", and together with   any German GmbH Guarantor hereinafter referred to as a “German Guarantor”) any payment   obligation arising out of the guaranty contained in this Section 11 (the "Payment Obligation") if   and to the extent such guarantee secures obligations of an affiliated company (verbundenes   Unternehmen) of such German Guarantor within the meaning of section 15 of the German Stock   Corporation Act (Aktiengesetz) (other than any of the German Guarantor's subsidiaries) if and to   the extent the enforcement of the Payment Obligation would otherwise lead to a situation where   that German Guarantor or, in the case of a German GmbH & Co. KG Guarantor, its general   partner (persönlich haftender Gesellschafter) does not have sufficient net assets (Reinvermögen)   (i.e. the amount of its net assets (Reinvermögen) is less than its registered share capital   (Stammkapital)) or if the amount of its net assets (Reinvermögen) have already fallen below the   amount of its registered share capital (Stammkapital), further increase of such shortfall.    (b) For the purposes of this Section 11.10, net assets (Reinvermögen) means the assets   calculated on the basis of the balance sheet items listed in Section 266(2) A. B., C., D. and E. of   the German Commercial Code (Handelsgesetzbuch) minus liabilities and accruals   (Rückstellungen) within the meaning of section 266(3) B. (but disregarding any provisions in   respect of the guarantee under this Section 11 which will be dissolved or deleted because of the   accounting exchange on the liability side (Passivtausch) as a consequence of the respective   enforcement of the Payment Obligation), C., D. and E. of the German Commercial Code   (Handelsgesetzbuch), to maintain its stated share capital (Stammkapital) as required by section   30 of the German Act on Limited Liability Companies (GmbHG) provided that for the purposes   of calculating the amount not to be enforced (if any) the following balance sheet items shall be   adjusted as follows:   For the purposes of calculating the net assets of the German Guarantor (or, in the case of   a GmbH & Co. KG, of its general partner (persönlich haftender Gesellschafter)) the following   balance sheet items shall be adjusted as follows:    (i) the amount of any increase of stated share capital (Stammkapital) of such   German Guarantor (or, in the case of a German GmbH & Co. KG Guarantor, the stated   share capital of its general partner (persönlich haftender Gesellschafter)) after the date   hereof which:    (1) is not permitted under the Credit Documents; and    (2) has been effected without the prior written consent of the   Administrative Agent,   shall be deducted from the stated share capital (Stammkapital);     

 

   -84-    (ii) loans and other contractual liabilities of the German Guarantor owed by   the German Guarantor to a shareholder if and to the extent the shareholder has entered   into a subordination agreement with the effect that his respective claims against the   German Guarantor will be held as being subordinated pursuant to para 39 nr. 5 InsO shall   be disregarded;    (iii) in case the registered share capital of the relevant German Guarantor or, in   case of a German GmbH & Co. KG Guarantor, its general partner (persönlich haftender   Gesellschafter), is not fully paid up (nicht voll eingezahlt), the amount which has not   been paid up shall be deducted from the relevant registered share capital;    (iv) loans and other contractual liabilities incurred by such German Guarantor   and/or in the case of a German GmbH & Co. KG Guarantor, by its general partner   (persönlich haftender Gesellschafter) in violation of the provisions of any of the Credit   Documents shall be disregarded; and    (v) all assets of the German Guarantor (or, in case of a German GmbH & Co.   KG Guarantor of its general partner (persönlich haftender Gesellschafter)) shall be taken   at their book value.  In addition, if and to the extent legally permitted and commercially   justifiable, in respect of the business of the German Guarantor (or, in case of a German   GmbH & Co. KG Guarantor of its general partner (persönlich haftender Gesellschafter)),   the German Guarantor (or, in case of a German GmbH & Co. KG Guarantor of its   general partner (persönlich haftender Gesellschafter)) shall, in a situation where the   German Guarantor (or, in case of a German GmbH & Co. KG Guarantor its general   partner) does not have sufficient assets to maintain its registered share capital realize any   and all of its assets that are shown in the balance sheet with a book value (Buchwert) that   is significantly lower than the market value of the assets, provided such asset is not   necessary for the German Guarantor's (or, in case of a German GmbH & Co. KG   Guarantor its general partner's) business (betriebsnotwendig) (the "Realizable Assets"),   unless the Agent states explicitly that this is not required.   Unless deviations are required by mandatory law, the relevant net assets are to be   determined in accordance with generally accepted accounting principles observing the   accountings principles applied in the previous years for the creation of the non-   consolidated financial statement.    (c) The limitations set out in clause (a) above shall not apply:    (i) if the relevant Payment Obligation does result from borrowings drawn by   or on-lent, or otherwise passed on to the relevant German Guarantor or any of its   subsidiaries and has not been repaid by such German Guarantor or its subsidiaries;    (ii) if and as long as a domination agreement (Beherrschungsvertrag) or a   profit transfer agreement (Gewinnabführungsvertrag) (each as defined in section 291 of   the Stock Corporation Act (AktG)), between the relevant German Guarantor and the   affiliate whose obligations are guaranteed under this Section 11, either directly or through     

 

   -85-   an unbroken chain of domination and/or profit transfer agreements, is legally binding and   effective, to the extent that the German Guarantor has a (legally and commercially) valid   claim for reimbursement against the affiliate whose obligations are guaranteed under this   Section 11.    (d) The limitations set out in clause (a) above only apply if and to the extent that:    (i) within 10 Business Days following the notification by the Lenders (acting   through the Administrative Agent) of their intention to enforce the Payment Obligation   (the "Enforcement Notice"), the managing director(s) on behalf of the relevant German   Guarantor has/have confirmed in writing to the Administrative Agent to what extent the   relevant Obligation does not result from borrowings drawn by or on-lent, or otherwise   passed on to the relevant German Guarantor or any of its subsidiaries and the Payment   Obligation cannot be enforced as it would, to their best knowledge, cause the net assets of   such German Guarantor or, in the case of a German GmbH & Co. KG Guarantor, its   general partner (persönlich haftender Gesellschafter) to fall below its stated share capital   (Stammkapital) in violation of section 30 GmbHG (taking into account the adjustments   set out in subclauses (i) to (iii) of clause (b)) and such confirmation is supported by an   updated balance sheet of the respective German Guarantor (or, in case of a German   GmbH & Co. KG Guarantor of its general partner (persönlich haftender Gesellschafter))   based on its latest annual financial statement (the "Management Determination") and the   Lenders (acting through the Administrative Agent) have not contested this and argued   that no or a lower amount would be necessary to maintain its stated share capital   (Stammkapital); or     (ii) within 20 Business Days from the date the Agent has contested the   Management Determination the Administrative Agent receives a determination by   auditors of international standing and reputation appointed by the relevant German   Guarantor and selected jointly by the Administrative Agent and such German Guarantor   of the amount that would have been necessary on the date the Enforcement Notice is   given to maintain its stated share capital (Stammkapital)) or, in the case of a German   GmbH & Co. KG Guarantor, the stated share capital (Stammkapital) of its general partner   without violation of section 30 GmbHG (the "Auditor's Determination"). If the   Administrative Agent and the relevant German Guarantor do not agree on the selection of   an auditor within 5 Business Days of the date the Administrative Agent has contested the   Management Determination the Administrative Agent is entitled to ask the Institut der   Wirtschaftsprüfer in Deutschland e.V. (IDW), Düsseldorf to appoint an auditor of   international standing and reputation. The amount determined in the Auditor's   Determination shall, subject to clause (e), be (except for manifest error) binding upon all   parties, safe for obvious mistakes. The costs of the Auditor’s Determination shall be   borne by the relevant German Guarantor.    (e) After a Management Determination has been made, the Lenders (acting through the   Administrative Agent) shall be entitled to enforce the Payment Obligation up to the amount to   which an enforcement is possible pursuant to the Management Determination. After an Auditor's   Determination has been made, the Lenders (acting through the Administrative Agent) shall be     

 

   -86-   entitled to enforce the Payment Obligation up to the amount to which an enforcement is possible   pursuant to the Auditor's Determination. In addition, the Lenders (acting through the   Administrative Agent) shall be entitled to further pursue their claims (if any) by suing the   relevant German Guarantor for amounts not permitted to be enforced pursuant to the Auditor's   Determination on the basis that an enforcement of such Payment Obligations would not result in   a violation of respective German Guarantor's obligations under section 30 GmbHG.    (f) If the Administrative Agent has enforced and realized the Payment Obligation   without limitation because the Management Calculation and/or the Auditors' Determination (as   the case may be) was not delivered within the relevant time, the Administrative Agent shall upon   demand of the German Guarantor after delivery of a Management Calculation or Auditors'   Certificate (as applicable) repay to the German Guarantor (or, in case of a German GmbH & Co.   KG Guarantor to its general partner (persönlich haftender Gesellschafter)) any amount which   according to the Management Calculation and/or the Auditors' Determination has been enforced   in excess of the amount enforceable pursuant to this Section 11.10, provided that such demand is   made within eighteen months (Ausschlußfrist) after the date this Payment Obligation was   enforced.    (g) If and to the extent after the date of this Agreement there will be available any non-   appealable ruling of a higher regional court (Oberlandesgericht) or the Federal Supreme Court   (Bundesgerichtshof) (i) holding that the granting of any upstream and/or crossstream guarantee   may, in case of the enforcement of such guarantee, trigger any liability of the German   Guarantor's directors pursuant to Section 64 sentence 3 GmbHG, and (ii) that this liability cannot   be avoided by the said directors filing for the opening of insolvency proceedings of the German   Guarantor, German GmbH & Co. KG Guarantor or its general partner (persönlich haftender   Gesellschafter) for any of the reasons set out in sections 17, 18 and 19 of the German Insolvency   Code (Insolvenzordnung), the Lenders and the relevant German Guarantor or German GmbH &   Co. KG Guarantor will negotiate in good faith to find a solution which avoids such personal   liability of the directors of the German Guarantor (or, in case of a German GmbH & Co. KG   Guarantor, its general partner (persönlich haftender Gesellschafter)). The German Guarantor (or,   in case of a German GmbH & Co. KG Guarantor, its general partner (persönlich haftender   Gesellschafter)) shall take all measures to the extent legally permitted and commercially   justifiable in order to increase its liquidity.    (h) The limitations set out in this Section 11.10 shall not apply if, at the time of the   enforcement of the Payment Obligation, the limitation set out in this Section 11.10 is (as a result   of any changes of legislation or the interpretation of applicable law) not or no longer required to   avoid a violation of Section 30 GmbHG and/or to protect the managing directors of any German   Guarantor (or in case of the German GmbH & Co. KG Guarantor the managing directors of its   general partner (persönlich haftender Gesellschafter)) from the risk of personal liability.   SECTION 12. MISCELLANEOUS.    Section 12.1. Taxes.  (a) Payments Free of Withholding Taxes.  Except as otherwise   required by law, each payment by the Borrower and each Guarantor under this Agreement or the   other Credit Documents shall be made without withholding for or on account of any present or     

 

   -87-   future taxes (other than overall net income taxes on the recipient and withholding under FATCA)   imposed by or within the jurisdiction in which the Borrower or such Guarantor is domiciled, any   jurisdiction from which the Borrower or such Guarantor makes any payment, or (in each case)   any political subdivision or taxing authority thereof or therein.  If any such withholding is so   required, the Borrower or relevant Guarantor shall make the withholding, pay the amount   withheld to the appropriate Governmental Authority before penalties attach thereto or interest   accrues thereon and forthwith pay such additional amount as may be necessary to ensure that the   net amount actually received by each Lender and the Administrative Agent free and clear of such   taxes (including such taxes on such additional amount) is equal to the amount which that Lender   or the Administrative Agent (as the case may be) would have received had such withholding not   been made.  If the Administrative Agent or any Lender pays any amount in respect of any such   taxes, penalties or interest the Borrower shall reimburse the Administrative Agent or that Lender   for that payment on demand in the currency in which such payment was made.  If the Borrower   or any Guarantor pays any such taxes, penalties or interest, it shall deliver official tax receipts   evidencing that payment or certified copies thereof to the Lender or Administrative Agent on   whose account such withholding was made (with a copy to the Administrative Agent if not the   recipient of the original) on or before the thirtieth day after payment.  If any Lender or the   Administrative Agent determines it has received or been granted a credit against or relief or   remission for, or repayment of, any taxes paid or payable by it because of any taxes, penalties or   interest paid by the Borrower or any Guarantor and evidenced by such a tax receipt, such Lender   or Administrative Agent shall, to the extent it can do so without prejudice to the retention of the   amount of such credit, relief, remission or repayment, pay to the Borrower or such Guarantor as   applicable, such amount as such Lender or Administrative Agent determines is attributable to   such deduction or withholding and which will leave such Lender or Administrative Agent (after   such payment) in no better or worse position than it would have been in if the Borrower had not   been required to make such deduction or withholding.  Nothing in this Agreement shall interfere   with the right of each Lender and the Administrative Agent to arrange its tax affairs in whatever   manner it thinks fit nor oblige any Lender or the Administrative Agent to disclose any   information relating to its tax affairs or any computations in connection with  such taxes.    (b) Indemnity.  The Borrower shall indemnify each Lender and the Administrative   Agent for the full amount of taxes paid by such Lender or the Administrative Agent (as the case   may be) eligible for the additional payment under Section 12.1(a) or 12.4 and any liability   (including penalties, interest and expenses) arising therefrom or with respect thereto, whether or   not such taxes were correctly or legally asserted.  Such indemnification shall be made within 30   days after the date such Lender or the Administrative Agent (as the case may be) makes written   demand therefor.     (c) Delivery of Tax Forms.  Each Lender organized under the laws of a jurisdiction   other than the United States or any state thereof shall deliver to the Borrower, with a copy to the   Administrative Agent, on the Effective Date or concurrently with the delivery of the relevant   Assignment and Acceptance, as applicable, (i) two United States Internal Revenue Service   Forms W-8ECI or Forms W-8BEN-E, as applicable (or successor forms) properly completed and   certifying in each case that such Lender is entitled to a complete exemption from withholding or   deduction for or on account of any United States federal income taxes, and (ii) an Internal   Revenue Service Form W-8BEN-E or W-8ECI or successor applicable form, as the case may be,     

 

   -88-   to establish an exemption from United States backup withholding taxes.  Each such Lender   further agrees to deliver to the Borrower, with a copy to the Administrative Agent, a Form   W-8BEN-E or W-8ECI, or successor applicable forms or manner of certification, as the case   may be, on or before the date that any such form expires or becomes obsolete or after the   occurrence of any event requiring a change in the most recent form previously delivered by it to   the Borrower, certifying in the case of a Form W-8BEN-E or W-8ECI that such Lender is   entitled to receive payments under this Agreement without deduction or withholding of any   United States federal income taxes (unless in any such case an event (including any change in   treaty, law or regulation) has occurred prior to the date on which any such delivery would   otherwise be required which renders such forms inapplicable or the exemption to which such   forms relate unavailable and such Lender notifies the Borrower and the Administrative Agent   that it is not entitled to receive payments without deduction or withholding of United States   federal income taxes) and, in the case of a Form W-8BEN-E or W-8ECI, establishing an   exemption from United States backup withholding tax.    (d) FATCA.  If a payment made to a Lender under this Agreement would be subject to   U.S. federal withholding tax imposed by FATCA if such Lender were to fail to comply with the   applicable reporting requirements of FATCA (including those contained in Section 1471(b) or   1472(b) of the Code, as applicable), such Lender shall deliver to the Borrower and the   Administrative Agent at the time or times prescribed by law and at such time or times reasonably   requested by the Borrower or Administrative Agent such documentation prescribed by applicable   law (including as prescribed by Section 1471(b)(3)(C)(i) of the Code) and such additional   documentation reasonably requested by the Borrower or Administrative Agent as may be   necessary for the Borrower and the Administrative Agent to comply with their obligations under   FATCA and to determine that such Lender has complied with such Lender’s obligations under   FATCA or to determine the amount to deduct and withhold from such payment.  Solely for   purposes of this clause (d), “FATCA” means Sections 1471 through 1474 of the Code, as of the   date of this Agreement (or any amended or successor version), any current or future regulations   or official interpretations thereof and any agreements entered into pursuant to Section 1471(b)(1)   of the Code.  Any withholding required by the Code shall be treated for the purposes of this   Agreement as having been paid to the relevant Lender.   For purposes of determining withholding taxes imposed under FATCA, from and after   the Effective Date, the Borrower and the Administrative Agent shall treat (and the Lenders   hereby authorize the Administrative Agent to treat) this Agreement as not qualifying as a   “grandfathered obligation” within the meaning of Treasury Regulation Section 1.1471-2(b)(2)(i).     Section 12.2. No Waiver of Rights.  No delay or failure on the part of the Administrative   Agent, any L/C Issuer or any Lender or on the part of the holder or holders of any of the   Obligations in the exercise of any power or right under any Credit Document shall operate as a   waiver thereof, nor as an acquiescence in any default, nor shall any single or partial exercise   thereof preclude any other or further exercise of any other power or right.  The rights and   remedies hereunder of the Administrative Agent, the L/C Issuers the Lenders and the holder or   holders of any of the Obligations are cumulative to, and not exclusive of, any rights or remedies   which any of them would otherwise have.     

 

   -89-    Section 12.3. Non-Business Day.  If any payment hereunder becomes due and payable on   a day which is not a Business Day, the due date of such payment shall be extended to the next   succeeding Business Day on which date such payment shall be due and payable.  In the case of   any payment of principal falling due on a day which is not a Business Day, interest on such   principal amount shall continue to accrue during such extension at the rate per annum then in   effect, which accrued amount shall be due and payable on the next scheduled date for the   payment of interest. If any report, certificate, document, instrument or agreement is required to   be delivered hereunder and the latest date for delivery is not a Business Day, the due date for   such delivery shall be extended to the next Business Day.     Section 12.4. Documentary Taxes.  The Borrower agrees that it will pay on demand any   documentary, stamp or similar taxes payable in respect to any Credit Document, including   interest and penalties, in the event any such taxes are assessed, irrespective of when such   assessment is made and whether or not any credit is then in use or available hereunder.    Section 12.5. Survival of Representations.  All representations and warranties made   herein or in any other Credit Document or in certificates given pursuant hereto shall survive the   execution and delivery of this Agreement and the other Credit Documents, and shall continue in   full force and effect with respect to the date as of which they were made as long as any credit is   in use or available hereunder.    Section 12.6. Survival of Indemnities.  All indemnities and all other provisions relative to   reimbursement to the Lenders and L/C Issuer of amounts sufficient to protect the yield of the   Lenders with respect to the Loans and Letters of Credit, including, but not limited to,   Section 1.12, Section 9.3 and Section 12.15 hereof, shall survive the termination of this   Agreement and the other Credit Documents and the payment of the Loans, Swingline Loans and   all other Obligations.    Section 12.7. Sharing of Set-Off.  Each Lender agrees with each other Lender party hereto   that if such Lender shall receive and retain any payment, whether by set-off (pursuant to   Section 12.15 hereof or otherwise) or application of deposit balances or otherwise (“Set-off”), on   any of the Loans, Swingline Loans or Reimbursement Obligations in excess of its ratable share   of payments on all such Obligations then outstanding to the Lenders, then such Lender shall   purchase for cash at face value, but without recourse, ratably from each of the other Lenders such   amount of the Loans, Swingline Loans or Reimbursement Obligations, or participations therein,   held by each such other Lenders (or interest therein) as shall be necessary to cause such Lender   to share such excess payment ratably with all the other Lenders; provided, however, that if any   such purchase is made by any Lender, and if such excess payment or part thereof is thereafter   recovered from such purchasing Lender, the related purchases from the other Lenders shall be   rescinded ratably and the purchase price restored as to the portion of such excess payment so   recovered, but without interest.  For purposes of this Section 12.7, amounts owed to or recovered   by, an L/C Issuer in connection with Reimbursement Obligations in which Lenders have been   required to fund their participation shall be treated as amounts owed to or recovered by such   L/C Issuer as a Lender hereunder.  The provisions of this Section 12.7 shall not be construed to   apply to (a) any payment made by the Borrower pursuant to and in accordance with the express   terms of this Agreement (including the application of funds arising from the existence of a     

 

   -90-   Defaulting Lender) or (b) any payment obtained by a Lender as consideration for the assignment   of or sale of a participation in any of its Loans or participations in Reimbursement Obligations to   any assignee or participant in accordance with the terms of this Agreement.    Section 12.8. Notices.  (a) Except in the case of notices and other communications   expressly permitted to be given by telephone (and except as provided in subsection (b) below),   all notices under the Credit Documents shall be in writing (including telecopy or other electronic   communication) and shall be given to a party hereunder at its address or telecopier number set   forth below or such other address or telecopier number as such party may hereafter specify by   notice to the Administrative Agent and the Borrower, given by courier, by United States certified   or registered mail, or by other telecommunication device capable of creating a written record of   such notice and its receipt.  Notices under the Credit Documents to the Lenders, L/C Issuer and   the Administrative Agent shall be addressed to their respective addresses, telecopier or telephone   numbers set forth in its Administrative Questionnaire, and to the Borrower and the Guarantors   to:   Jones Lang LaSalle Finance B.V.   Kantoorgebouw Atrium   Strawinskylaan 3103   1077 ZX Amsterdam   Attention:  Managing Director   Telecopy:  31 20 661 15 66   Telephone:  31 20 540 54 05   with a copy to: Jones Lang LaSalle Incorporated    200 East Randolph Street    Chicago, Illinois  60601    Attention:  Global Treasurer    Telecopy:  (312) 819-0027    Telephone:  (312) 782-5800    Website for purposes of     Section 5.1:   www.jll.com   with a copy of notices of Defaults   and Events of Default to:     Jones Lang LaSalle Finance B.V.   c/o Jones Lang LaSalle Incorporated   200 East Randolph Street   Chicago, Illinois  60601   Attention:  Global General Counsel   Telecopy:  (312) 228-2277   Telephone:  (312) 782-5800   Each such notice, request or other communication shall be effective (i) if given by   telecopier, when such telecopy is transmitted to the telecopier number specified in this   Section 12.8 or on the Administrative Questionnaire and a confirmation of receipt of such   telecopy has been received by the sender, (ii) if given by courier, when delivered, (iii) if given by   mail, three business days after such communication is deposited in the mail, registered with   return receipt requested, addressed as aforesaid or (iv) if given by any other means, when   delivered at the addresses specified in this Section 12.8 or on the Administrative Questionnaire;   provided that any notice given pursuant to Section 1 hereof shall be effective only upon receipt.    Notices delivered through electronic communications, to the extent provided in subsection (b)   below, shall be effective as provided in said subsection (b).     

 

   -91-    (b) Electronic Communications.  Notices and other communications to the Lenders and   the L/C Issuers hereunder may be delivered or furnished by electronic communication (including   e-mail and Internet or intranet websites) pursuant to procedures approved by the Administrative   Agent, provided that the foregoing shall not apply to notices to any Lender or L/C Issuer   pursuant to Sections 1.2, 1.3 and 1.6 hereof if such Lender or L/C Issuer, as applicable, has   notified the Administrative Agent that it is incapable of receiving notices under such Sections by   electronic communication.  The Administrative Agent or the Borrower may, in its discretion,   agree to accept notices and other communications to it hereunder by electronic communications   pursuant to procedures approved by it; provided that approval of such procedures may be limited   to particular notices or communications.   Unless the Administrative Agent otherwise prescribes, (i) notices and other   communications sent to an e-mail address shall be deemed received upon the sender’s receipt of   an acknowledgement from the intended recipient (such as by the “return receipt requested”   function, as available, return e-mail or other written acknowledgement), and (ii) notices or   communications posted to an Internet or intranet website shall be deemed received upon the   deemed receipt by the intended recipient, at its e-mail address as described in the foregoing   clause (i), of notification that such notice or communication is available and identifying the   website address therefor; provided that, for both clauses (i) and (ii) above, if such notice, email   or other communication is not sent during the normal business hours of the recipient, such notice   or communication shall be deemed to have been sent at the opening of business on the next   business day for the recipient.    (c) Change of Address, Etc.  Any party hereto may change its address or facsimile   number for notices and other communications hereunder by notice to the other parties hereto.    (d) Platform.  (i) The Borrower and each Guarantor agrees that the Administrative   Agent may, but shall not be obligated to, make the Communications (as defined below) available   to the L/C Issuers and the other Lenders by posting the Communications on Debt Domain,   Intralinks, Syndtrak or a substantially similar electronic transmission system (the “Platform”).    (ii) The Platform is provided “as is” and “as available.”  The Agent Parties (as defined   below) do not warrant the adequacy of the Platform and expressly disclaim liability for errors or   omissions in the Communications.  No warranty of any kind, express, implied or statutory,   including, without limitation, any warranty of merchantability, fitness for a particular purpose,   non-infringement of third-party rights or freedom from viruses or other code defects, is made by   any Agent Party in connection with the Communications or the Platform.  In no event shall the   Administrative Agent or any of its related parties (collectively, the “Agent Parties”) have any   liability to the Borrower or any Guarantor, any Lender or any other Person or entity for damages   of any kind, including, without limitation, direct or indirect, special, incidental or consequential   damages, losses or expenses (whether in tort, contract or otherwise) arising out of the   Borrower’s, any Guarantor’s or the Administrative Agent’s transmission of communications   through the Platform.  “Communications” means, collectively, any notice, demand,   communication, information, document or other material provided by or on behalf of the   Borrower or any Guarantor  pursuant to any Credit Document or the transactions contemplated     

 

   -92-   therein which is distributed to the Administrative Agent, any Lender or any L/C Issuer by means   of electronic communications pursuant to this Section, including through the Platform.    Section 12.9. Counterparts; Integration; Effectiveness.  (a) Counterparts; Integration;   Effectiveness.  This Agreement may be executed in counterparts (and by different parties hereto   in different counterparts), each of which shall constitute an original, but all of which when taken   together shall constitute a single contract.  This Agreement and the other Credit Documents, and   any separate letter agreements with respect to fees payable to the Administrative Agent,   constitute the entire contract among the parties relating to the subject matter hereof and   supersede any and all previous agreements and understandings, oral or written, relating to the   subject matter hereof.  Except as provided in Section 6.1 hereof, this Agreement shall become   effective when it shall have been executed by the Administrative Agent and when the   Administrative Agent shall have received counterparts hereof that, when taken together, bear the   signatures of each of the other parties hereto.  Delivery of an executed counterpart of a signature   page of this Agreement by facsimile or in electronic (e.g., “pdf” or “tif”) format shall be   effective as delivery of a manually executed counterpart of this Agreement.    (b) Electronic Execution of Assignments.  The words “execution,” “signed,”   “signature,” and words of like import in any Assignment and Assumption shall be deemed to   include electronic signatures or the keeping of records in electronic form, each of which shall be   of the same legal effect, validity or enforceability as a manually executed signature or the use of   a paper-based recordkeeping system, as the case may be, to the extent and as provided for in any   applicable law, including the Federal Electronic Signatures in Global and National Commerce   Act, the Illinois State Electronic Commerce Security Act, or any other similar state laws based   on the Uniform Electronic Transactions Act.     Section 12.10. Successors and Assigns.  This Agreement shall be binding upon the   Borrower and the Guarantors and their successors and assigns, and shall inure to the benefit of   the Administrative Agent, each L/C Issuer and each of the Lenders and the benefit of their   respective successors and assigns, including any subsequent holder of any Obligation.  The   Borrower and the Guarantors may not assign any of their rights or obligations under any Credit   Document without the written consent of all of the Lenders and, with respect to any Letter of   Credit or the Application therefor, the applicable L/C Issuer (and any attempted such assignment   without such consent shall be null and void).    Section 12.11. Participants.  Each Lender shall have the right at its own cost to grant   participations (to be evidenced by one or more agreements or certificates of participation) in the   Loans made and Reimbursement Obligations and/or Revolving Credit Commitments held by   such Lender at any time and from time to time to one or more other Persons (other than a natural   Person or the Parent or any of the Parent’s Affiliates or Subsidiaries); provided that no such   participation shall relieve any Lender of any of its obligations under this Agreement, and,   provided, further that no such participant shall have any rights under this Agreement except as   provided in this Section 12.11, and the Administrative Agent shall have no obligation or   responsibility to such participant.  Any agreement pursuant to which such participation is granted   shall provide that the granting Lender shall retain the sole right and responsibility to enforce the   obligations of the Borrower and Guarantors under this Agreement and the other Credit     

 

   -93-   Documents including, without limitation, the right to approve any amendment, modification or   waiver of any provision of the Credit Documents, except that such agreement may provide that   such Lender will not agree to any modification, amendment or waiver of the Credit Documents   that would reduce the amount of or postpone any fixed date for payment of any Obligation in   which such participant has an interest.  Any party to which such a participation has been granted   shall have the benefits of Sections 1.12, 9.3 and 12.1 hereof (subject to the requirements and   limitations therein, including the requirements under Section 12.1(c) hereof (it being understood   that the documentation required under Section 12.1(c) shall be delivered to the participating   Lender)) to the same extent as if it were a Lender and had acquired its interest by assignment   pursuant to Section 12.12 hereof; provided that such participant (A) agrees to be subject to the   provisions of Sections 1.14 hereof as if it were an assignee under paragraph (b) of this Section;   and (B) shall not be entitled to receive any greater payment under Sections 9.3 or 12.1 hereof   with respect to any participation, than its participating Lender would have been entitled to   receive, except to the extent such entitlement to receive a greater payment results from a Change   in Law that occurs after the participant acquired the applicable participation.  Each Lender that   sells a participation agrees, at the Borrower's request and expense, to use reasonable efforts to   cooperate with the Borrower to effectuate the provisions of Section 1.14 with respect to any of   its participants.  To the extent permitted by law, each participant also shall be entitled to the   benefits of Section 12.16 hereof as though it were a Lender; provided that such participant agrees   to be subject to Section 12.7 hereof as though it were a Lender. Each Lender, acting solely for   this purpose as a non-fiduciary  agent of the Borrower, shall maintain a register for the   recordation of the names and addresses of each participant and the principal amounts (and stated   interest) of each participant’s interest (the “Participation Register”); provided that no Lender   shall have any obligation to disclose all or any portion of the Participation Register to any Person   (including the identity of any participant or any information relating to a participant’s interest)   except to the extent that such disclosure is necessary to establish that such participant’s interest is   in registered form under Section 5f.103-1(c) of the United States Treasury Regulations.    Section 12.12. Assignments.  (a) Any Lender may at any time assign to one or more   Eligible Assignees all or a portion of such Lender’s rights and obligations under this Agreement   (including all or a portion of its Revolving Credit Commitment and the Loans at the time owing   to it); provided that (in each case with respect to any Facility) any such assignment shall be   subject to the following conditions:     (i) Minimum Amounts.  (A) In the case of an assignment of the entire remaining   amount of the assigning Lender’s Revolving Credit Commitment and the Loans and participation   interest in L/C Obligations at the time owing to it (in each case with respect to any Facility) or in   the case of an assignment to a Lender, an Affiliate of a Lender or an Approved Fund, no   minimum amount need be assigned, provided that such Affiliate of a Lender or Approved Fund   is a Non-Public Lender; and (B) in any case not described in subsection (a)(i)(A) of this   Section 12.12, the aggregate amount of the Revolving Credit Commitment (which for this   purpose includes Loans and participation interest in L/C Obligations outstanding thereunder) or,   if the Revolving Credit Commitment is not then in effect, the principal outstanding balance of   the Loans and participation interest in L/C Obligations of the assigning Lender subject to each   such assignment (determined as of the date the Assignment and Acceptance with respect to such   assignment is delivered to the Administrative Agent or, if “Effective Date” is specified in the     

 

   -94-   Assignment and Acceptance, as of the Effective Date) shall not be less than $5,000,000 in the   case of any assignment in respect of the Revolving Facility, or $1,000,000 in the case of any   assignment in respect of any Term Loan Facility, unless each of the Administrative Agent and,   so long as no Event of Default has occurred and is continuing, the Borrower otherwise consents   (each such consent not to be unreasonably withheld or delayed);    (ii) Proportionate Amounts.  Each partial assignment shall be made as an assignment of   a proportionate part of all the assigning Lender’s rights and obligations under this Agreement   with respect to the Loan or the Revolving Credit Commitment assigned.    (iii) Required Consents.  No consent shall be required for any assignment except to the   extent required by Section 12.12(a)(i)(B) hereof and, in addition:    (a) the consent of the Borrower (such consent not to be unreasonably withheld   or delayed and if it is delayed more than five (5) Business Days it is deemed to be given)   shall be required unless (x) an Event of Default has occurred and is continuing at the time   of such assignment or (y) such assignment is to a Lender, an Affiliate of a Lender or an   Approved Fund;    (b) the consent of the Administrative Agent (such consent not to be   unreasonably withheld or delayed and if it is delayed more than five (5) Business Days it   is deemed to be given) shall be required for assignments in respect of (i) the Revolving   Facility or any unfunded Commitments with respect to any Term Loan Facility if such   assignment is to a Person that is not a Lender with a Commitment in respect of such   Facility, an Affiliate of such Lender or an Approved Fund with respect to such Lender, or   (ii) any Term Loans to a Person who is not a Lender, an Affiliate of a Lender or an   Approved Fund;     (c) the consent of the L/C Issuers (such consent not to be unreasonably   withheld or delayed) shall be required for any assignment that increases the obligation of   the assignee to participate in exposure under one or more Letters of Credit (whether or   not then outstanding); and    (d) the consent of the Swingline Lender (such consent not to be unreasonably   withheld or delayed) shall be required for any assignment that increases the obligation of   the assignee to participate in exposure under one or more Swingline loans (whether or not   then outstanding).    (iv) Assignment and Acceptance.  The parties to each assignment shall execute and   deliver to the Administrative Agent an Assignment and Acceptance, together with a processing   and recordation fee of $3,500, and the assignee, if it is not a Lender, shall deliver to the   Administrative Agent an Administrative Questionnaire; provided that if an Affected Lender does   not execute and deliver an Assignment and Acceptance within five (5) Business Days of request   by the Borrower or the Administrative Agent to do so in connection with any substitution being   made pursuant to Section 1.14, such Affected Lender shall be deemed to have executed and   delivered such Assignment and Acceptance and any other documentation necessary or desirable     

 

   -95-   to consummate any assignment contemplated by Section 1.14 without any action on the part of   the Affected Lender.    (v) No Assignment to Borrower, Parent or Defaulting Lender.  No such assignment   shall be made to (A) the Parent or any of its Affiliates or Subsidiaries or (B) any Defaulting   Lender or any of its Affiliates or Subsidiaries.    (vi) No Assignment to Natural Persons. No such assignment shall be made to a   natural person.    (vii) No such assignment shall result in a reduction in the total Revolving Credit   Commitments.    (viii) Certain Additional Payments.  In connection with any assignment of rights and   obligations of any Defaulting Lender hereunder, no such assignment shall be effective unless and   until, in addition to the other conditions thereto set forth herein, the parties to the assignment   shall make such additional payments to the Administrative Agent in an aggregate amount   sufficient, upon distribution thereof as appropriate (which may be outright payment, purchases   by the assignee of participations or subparticipations, or other compensating actions, including   funding, with the consent of the Borrower and the Administrative Agent, the applicable pro rata   share of Loans previously requested but not funded by such Defaulting Lender, to each of which   the applicable assignee and assignor hereby irrevocably consent), to (x) pay and satisfy in full all   payment liabilities then owed by such Defaulting Lender to the Administrative Agent, each   L/C Issuer, the Swingline Lender and each other Lender hereunder (and interest accrued   thereon), and (y) acquire (and fund as appropriate) its full pro rata share of all Loans and   participations in Letters of Credit and Swingline Loans in accordance with its Percentage.    Notwithstanding the foregoing, in the event that any assignment of rights and obligations of any   Defaulting Lender hereunder shall become effective under applicable law without compliance   with the provisions of this paragraph, then the assignee of such interest shall be deemed to be a   Defaulting Lender for all purposes of this Agreement until such compliance occurs.   Subject to acceptance and recording thereof by the Administrative Agent pursuant to   Section 12.12(b) hereof, from and after the effective date specified in each Assignment and   Acceptance, the assignee thereunder shall be a party to this Agreement and, to the extent of the   interest assigned by such Assignment and Acceptance, have the rights and obligations of a   Lender under this Agreement, and the assigning Lender thereunder shall, to the extent of the   interest assigned by such Assignment and Acceptance, be released from its obligations under this   Agreement (and, in the case of an Assignment and Acceptance covering all of the assigning   Lender’s rights and obligations under this Agreement, such Lender shall cease to be a party   hereto) but shall continue to be entitled to the benefits of Sections 12.6 and 12.15 hereof with   respect to facts and circumstances occurring prior to the effective date of such assignment.  Any   assignment or transfer by a Lender of rights or obligations under this Agreement that does not   comply with this Section 12.12 shall be treated for purposes of this Agreement as a sale by such   Lender of a participation in such rights and obligations in accordance with Section 12.11 hereof.     

 

   -96-    (b) Register.  The Administrative Agent, acting solely for this purpose as an agent of   the Borrower, shall maintain at one of its offices in Chicago, Illinois, a copy of each Assignment   and Acceptance delivered to it and a register for the recordation of the names and addresses of   the Lenders, and the Revolving Credit Commitments of, and principal amounts of the Loans   owing to, each Lender pursuant to the terms hereof from time to time (the “Register”).  The   entries in the Register shall be conclusive, and the Borrower, the Administrative Agent, and the   Lenders may treat each Person whose name is recorded in the Register pursuant to the terms   hereof as a Lender hereunder for all purposes of this Agreement, notwithstanding notice to the   contrary.  The Register shall be available for inspection by the Borrower and any Lender, at any   reasonable time and from time to time upon reasonable prior notice.    (c) Any Lender may at any time pledge or grant a security interest in all or any portion   of its rights under this Agreement to secure obligations of such Lender, including any such   pledge or grant to a Federal Reserve Bank or other central bank having jurisdiction over the   Lender, and this Section 12.12 shall not apply to any such pledge or grant of a security interest;   provided that no such pledge or grant of a security interest shall release a Lender from any of its   obligations hereunder or substitute any such pledgee or secured party for such Lender as a party   hereto; provided further, however, the right of any such pledgee or grantee (other than any   Federal Reserve Bank) to further transfer all or any portion of the rights pledged or granted to it,   whether by means of foreclosure or otherwise, shall be at all times subject to the terms of this   Agreement.      (d) Notwithstanding anything to the contrary herein, if at any time the Swingline   Lender assigns all of its Revolving Credit Commitment and Revolving Loans pursuant to   subsection (a) above, the Swingline Lender may terminate the Swingline.  In the event of such   termination of the Swingline, the Borrower shall be entitled to appoint another Lender to act as   the successor Swingline Lender hereunder (with such Lender’s consent); provided, however, that   the failure of the Borrower to appoint a successor shall not affect the resignation of the Swingline   Lender.  If the Swingline Lender terminates the Swingline, it shall retain all of the rights of the   Swingline Lender provided hereunder with respect to Swingline Loans made by it and   outstanding as of the effective date of such termination, including the right to require Lenders to   make Revolving Loans or fund participations in outstanding Swingline Loans pursuant to   Section 1.3 hereof.  Notwithstanding anything to the contrary contained herein, if at any time an   L/C Issuer assigns all of its Revolving Credit Commitment and Revolving Loans pursuant to   subsection (a) above, such L/C Issuer may, upon thirty days’ notice to the Borrower and the   Administrative Agent, resign as an L/C Issuer.  In the event of any such resignation as L/C   Issuer, the Borrower shall be entitled to appoint from among the Lenders (with the written   consent of the appointed Lender and Administrative Agent) a successor L/C Issuer hereunder;   provided, however, that no failure by the Borrower to appoint any such successor shall affect the   resignation of such L/C Issuer.  Such resigning L/C Issuer shall retain all the rights, powers,   privileges and duties of the L/C Issuer hereunder with respect to all Letters of Credit issued by it   and outstanding as of the effective date of its resignation as an L/C Issuer and all L/C   Obligations with respect thereto (including the right to require the Lenders to fund risk   participations pursuant to this Agreement). Upon the appointment of a successor L/C Issuer, (1)   such successor shall succeed to and become vested with all of the rights, powers, privileges and   duties of the retiring L/C Issuer and (2) the successor or any other L/C Issuer shall issue letters of     

 

   -97-   credit in substitution for the Letters of Credit, if any, outstanding at the time of such succession   or make other arrangements reasonably satisfactory to such resigning L/C Issuer to effectively   assume the obligations of such resigning L/C Issuer with respect to such Letters of Credit.    Section 12.13. Amendments.  Any provision of the Credit Documents may be amended,   waived or modified if, but only if, such amendment, waiver or modification is in writing and is   signed by (a) the Borrower, (b) the Required Lenders, and (c) if the rights or duties of the   Administrative Agent, the L/C Issuers or the Swingline Lender are affected thereby, the   Administrative Agent, the L/C Issuers, or the Swingline Lender, as applicable; provided that:    (i) no amendment, waiver or modification pursuant to this Section 12.13 shall   (A) increase or extend any Revolving Credit Commitment of any Lender without the   consent of such Lender or (B) reduce the amount of or postpone any fixed date for   payment of any principal of or interest on any Loan, Swingline Loan or Reimbursement   Obligation or of any fee payable hereunder without the consent of the Lender to which   such payment is owing or which has committed to make such Loan, Swingline Loan or   Letter of Credit (or participate therein) hereunder;     (ii) no amendment, waiver or modification pursuant to this Section 12.13   shall, unless signed by each Lender, change any provision of Sections 8.5 or 12.7 hereof,   this Section 12.13, or the definitions of Alternative Currency, Borrower, Termination   Date or Required Lenders, or affect the number of Lenders required to take any action   under the Credit Documents, or release any Guarantor (other than pursuant to the terms   hereof) from its guaranty of any Obligations;     (iii) no amendment to Section 11 hereof shall be made without the consent of   the Guarantor(s) affected thereby; and    (iv) the Borrower and the Administrative Agent may, without the input or   consent of any other Lender, effect amendments to this Agreement and the other Credit   Documents as may be necessary in the reasonable opinion of the Borrower and the   Administrative Agent solely to effect the provisions of Section 1.15 hereof; provided that   no such amendment shall increase the obligations of any Lender without such Lender’s   consent.   Notwithstanding anything to the contrary herein, (1) no Defaulting Lender shall have any right to   approve or disapprove any amendment, waiver or consent hereunder (and any amendment,   waiver or consent which by its terms requires the consent of all Lenders or each affected Lender   may be effected with the consent of the applicable Lenders other than Defaulting Lenders),   except that (x) the Revolving Credit Commitment of any Defaulting Lender may not be   increased or extended and the principal amount of Loans or Reimbursement Obligations held by   any Defaulting Lender may not be decreased, in each case without the consent of such   Defaulting Lender and (y) any waiver, amendment or modification requiring the consent of all   Lenders or each affected Lender that by its terms affects any Defaulting Lender more adversely   than other affected Lenders shall require the consent of such Defaulting Lender, (2) if the   Administrative Agent and the Borrower have jointly identified an obvious error or any error or     

 

   -98-   omission of a technical nature, in each case, in any provision of the Credit Documents, then the   Administrative Agent and the Borrower shall be permitted to amend such provision, (3)   guarantees, collateral security documents and related documents executed by the Borrower or   any Guarantor in connection with this Agreement may be in a form reasonably determined by the   Administrative Agent and may be amended, supplemented or waived without the consent of any   Lender if such amendment, supplement or waiver is delivered in order to (x) comply with local   law or advice of local counsel, (y) cure ambiguities, omissions, mistakes or defects or (z) cause   such guarantee, collateral security document or other document to be consistent with this   Agreement and the other Credit Documents.    Section 12.14. Headings.  Section headings used in this Agreement are for reference only   and shall not affect the construction of this Agreement.    Section 12.15. Legal Fees, Other Costs and Indemnification.  The Borrower agrees to pay   all reasonable costs and expenses of the Administrative Agent in connection with the preparation   and negotiation of the Credit Documents, including without limitation, the reasonable fees and   disbursements of Chapman and Cutler LLP and one local foreign counsel to the Administrative   Agent, in connection with the preparation and execution of the Credit Documents, and any   amendment, waiver or consent related hereto, whether or not the transactions contemplated   herein are consummated.  The Borrower further agrees to indemnify the Administrative Agent,   each L/C Issuer, each Lender, each of their respective Affiliates and any security trustee therefor,   and their and their Affiliates’ respective directors, officers, employees, agents, financial advisors,   and consultants (each such Person being called an “Indemnitee”) against all losses, claims,   damages, penalties, judgments, liabilities and expenses (including, without limitation, all   reasonable fees and disbursements of counsel for any such Indemnitee and all reasonable   expenses of litigation or preparation therefor, whether initiated by a third party or by the   Borrower, any Subsidiary, any Affiliate of the Parent or any of their respective equity holders or   creditors and whether or not the Indemnitee is a party thereto, or any settlement arrangement   arising from or relating to any such litigation) which any of them may pay or incur arising out of   or relating to any Credit Document or any of the transactions contemplated thereby or the direct   or indirect application or proposed application of the proceeds of any Loan, Swingline Loan or   Letter of Credit; provided that such indemnity shall not, as to any Indemnitee, be available to the   extent that such losses, claims, damages, liabilities or related expenses (x) are determined by a   court of competent jurisdiction by final and nonappealable judgment to have resulted from the   gross negligence or willful misconduct of such Indemnitee or its or its Affiliates’ directors,   officers, employees, agents, financial advisors or consultants (each a “Related Indemnitee”),   (y) result from a claim brought by the Borrower against an Indemnitee or its Related Indemnitees   for breach in bad faith of such Indemnitee’s or its Related Indemnitee’s obligations hereunder or   under any other Loan Document, if such Loan Party has obtained a final and nonappealable   judgment in its favor on such claim as determined by a court of competent jurisdiction or   (z) results from a dispute solely between Indemnitees and not (1) involving any action or   inaction by the Parent or any of its Subsidiaries or (2) relating to any action of such Indemnitee   in its capacity as Administrative Agent or L/C Issuer.  The Borrower, upon demand by the   Administrative Agent, an L/C Issuer, or a Lender at any time, shall reimburse the Administrative   Agent, such L/C Issuer, or such Lender for any legal or other expenses (including, without   limitation, all reasonable fees and disbursements of counsel for any such Indemnitee) incurred in     

 

   -99-   connection with investigating or defending against any of the foregoing (including any   settlement costs relating to the foregoing) except to the extent the same (i) is directly due to the   gross negligence or willful misconduct of the party to be indemnified (in any case, determined by   a court of competent jurisdiction by a final non-appealable judgment), (ii) result from a claim   brought by the Borrower against an Indemnitee or its Related Indemnitees for breach in bad faith   of such Indemnitee’s or its Related Indemnitee’s obligations hereunder or under any other Loan   Document, if such Loan Party has obtained a final and nonappealable judgment in its favor on   such claim as determined by a court of competent jurisdiction or (iii) results from a dispute   solely between Indemnitees and not (1) involving any action or inaction by the Parent or any of   its Subsidiaries or (2) relating to any action of such Indemnitee in its capacity as Administrative   Agent or L/C Issuer. Each party hereto agrees not to assert any claim against any other party   hereto or any of their respective officers, directors, employees, attorneys and agents, on any   theory of liability, for special, indirect, consequential or punitive damages arising out of or   otherwise relating to any Commitment, Loan, or Letter of Credit, the actual or proposed use of   proceeds of any Loan or Letter of Credit, any Credit Document, or any of the transactions   contemplated thereby; provided, however, that none of the foregoing limitations in this sentence   shall be deemed to limit, impair or otherwise affect the Borrower’s indemnity obligations under   the preceding provisions of this Section 12.15.    Section 12.16. Set Off.  In addition to any rights now or hereafter granted under applicable   law and not by way of limitation of any such rights, upon the occurrence and during the   continuance of any Event of Default, each Lender, each L/C Issuer and each subsequent holder   of any Obligation, and each of their respective affiliates, is hereby authorized by the Borrower   and each Guarantor at any time or from time to time, without notice to the Borrower, to the   Guarantors or to any other Person, any such notice being hereby expressly waived, to set off and   to appropriate and to apply any and all deposits (general or special, including, but not limited to,   indebtedness evidenced by certificates of deposit, whether matured or unmatured, but not   including trust accounts or other accounts of the Borrower or any Guarantor in a fiduciary   capacity, and in whatever currency denominated) and any other indebtedness at any time held or   owing by that Lender, that L/C Issuer or that subsequent holder to or for the credit or the account   of the Borrower or any Guarantor, whether or not matured, against and on account of the   obligations and liabilities of the Borrower or any Guarantor to that Lender, that L/C Issuer or that   subsequent holder under the Credit Documents, including, but not limited to, all claims of any   nature or description arising out of or connected with the Credit Documents, irrespective of   whether or not (a) that Lender, that L/C Issuer or that subsequent holder shall have made any   demand hereunder or (b) the principal of or the interest on the Loans or Notes and other amounts   due hereunder shall have become due and payable pursuant to Section 8 hereof and although said   obligations and liabilities, or any of them, may be contingent or unmatured; provided that in the   event that any Defaulting Lender shall exercise any such right of setoff, (x) all amounts so set off   shall be paid over immediately to the Administrative Agent for further application in accordance   with the provisions of Section 1.16 hereof and, pending such payment, shall be segregated by   such Defaulting Lender from its other funds and deemed held in trust for the benefit of the   Administrative Agent, the L/C Issuers, and the Lenders, and (y) such Defaulting Lender shall   provide promptly to the Administrative Agent a statement describing in reasonable detail the   Obligations owing to such Defaulting Lender as to which it exercised such right of setoff.     

 

   -100-    Section 12.17. Currency.  Each reference in this Agreement to U.S. Dollars or to an   Alternative Currency (the “relevant currency”) is of the essence.  To the fullest extent permitted   by law, the obligation of the Borrower and each Guarantor in respect of any amount due in the   relevant currency under this Agreement shall, notwithstanding any payment in any other   currency (whether pursuant to a judgment or otherwise), be discharged only to the extent of the   amount in the relevant currency that the Person entitled to receive such payment may, in   accordance with normal banking procedures, purchase with the sum paid in such other currency   (after any premium and costs of exchange) on the Business Day immediately following the day   on which such Person receives such payment.  If the amount of the relevant currency so   purchased is less than the sum originally due to such Person in the relevant currency, the   Borrower or relevant Guarantor agrees, as a separate obligation and notwithstanding any such   judgment, to indemnify such Person against such loss, and if the amount of the specified   currency so purchased exceeds the sum of (a) the amount originally due to the relevant Person in   the specified currency plus (b) any amounts shared with other Lenders as a result of allocations   of such excess as a disproportionate payment to such Person under Section 12.7 hereof, such   Person agrees to remit such excess to the Borrower.    Section 12.18. Entire Agreement.  The Credit Documents constitute the entire   understanding of the parties thereto with respect to the subject matter thereof and any prior or   contemporaneous agreements, whether written or oral, with respect thereto are superseded   thereby.    Section 12.19. Governing Law.  This Agreement and the other Credit Documents, and the   rights and duties of the parties hereto, shall be construed and determined in accordance with the   internal laws of the State of Illinois.    Section 12.20. Submission to Jurisdiction; Waiver of Jury Trial.  The Borrower and each   Guarantor hereby submits to the exclusive jurisdiction of the United States District Court for the   Northern District of Illinois and of any Illinois State court sitting in the City of Chicago for   purposes of all legal proceedings arising out of or relating to this Agreement, the other Credit   Documents or the transactions contemplated hereby or thereby.  The Borrower and each   Guarantor irrevocably waives, to the fullest extent permitted by law, any objection which it may   now or hereafter have to the laying of the venue of any such proceeding brought in such a court   and any claim that any such proceeding brought in such a court has been brought in an   inconvenient forum.  The Borrower, each Guarantor, the Administrative Agent, each   L/C Issuer and each Lender hereby irrevocably waives any and all right to trial by jury in   any legal proceeding arising out of or relating to any Credit Document or the transactions   contemplated thereby.  The Borrower and each Guarantor (other than the Parent) hereby   irrevocably designates, appoints and empowers the Parent as its designee, appointee and agent to   receive, accept and acknowledge for and on its behalf, and in respect of its property, service of   any and all legal process, summons, notices and documents which may be served in any such   action or proceeding.  If for any reason the Parent shall cease to be available to act as such, the   Borrower and each Guarantor (other than the Parent) agrees to designate a new designee,   appointee and agent in Chicago, Illinois on the terms and for the purposes of this provision   satisfactory to the Administrative Agent under this Agreement.  The Borrower and each   Guarantor hereby irrevocably waives any objection to such service of process and further     

 

   -101-   irrevocably waives and agrees not to plead or claim in any action or proceeding commenced   hereunder or under any other Credit Document that service of process was in any way invalid or   ineffective.  Nothing herein shall affect the right of the Administrative Agent, any L/C Issuer,   any Lender or the holder of any Obligation to serve process in any other manner permitted by   law or to commence legal proceedings or otherwise proceed against the Borrower or any   Guarantor in any other jurisdiction.    Section 12.21. Limitation of Liability.  In addition to, and not in limitation of, any   limitation on liability provided by law or by any contract, agreement, instrument or document,   the liability of each Guarantor that is a partnership shall be limited to the assets of such   Guarantor, and no present or future partner of any such Guarantor shall have any personal   liability under this Agreement, except if such partner is itself a Guarantor or the Borrower.    Section 12.22. Confidentiality.  The Administrative Agent, each Lender and each   L/C Issuer agree to keep confidential any confidential written information provided to it by or on   behalf of the Borrower or the Parent pursuant to or in connection with this Agreement; provided   that nothing herein shall prevent the Administrative Agent or any Lender from disclosing any   such information (i) to the Administrative Agent or any other Lender, (ii) to potential Lenders,   participants, assignees or any potential counterparty (or its advisors) to any swap or derivative   transaction relating to the Borrower or any of its affiliates or any of their respective obligations,   in each case, who agree to be bound by the terms of this Section (or substantially similar   language to this Section), (iii) to its employees and Affiliates involved in the administration of   this Agreement, directors, attorneys, accountants and other professional advisors (each of which   shall be instructed to hold the same in confidence), (iv) in response to the request or demand of   any Governmental Authority or in connection with any ordinary course exam, audit or inquiry of   any regulatory or self-regulatory body having or claiming jurisdiction or oversight over such   Lender or that of any of its businesses, (v) in response to any order of any court or other   Governmental Authority or as may otherwise be required pursuant to any law, regulation or legal   process, provided, however, that such Lender and such L/C Issuer, to the extent legally permitted   to do so, will use its best efforts to notify the Parent prior to any disclosure of information   contemplated by this subparagraph (v), (vi) which has been publicly disclosed other than in   breach of this Agreement, or (vii) in connection with the exercise of any remedy hereunder or   under any Credit Document.      Section 12.23. Severability of Provisions.  Any provision of any Credit Document which is   unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such   unenforceability without invalidating the remaining provisions hereof or affecting the validity or   enforceability of such provision in any other jurisdiction.  All rights, remedies and powers   provided in this Agreement and the other Credit Documents may be exercised only to the extent   that the exercise thereof does not violate any applicable mandatory provisions of law, and all the   provisions of this Agreement and other Credit Documents are intended to be subject to all   applicable mandatory provisions of law which may be controlling and to be limited to the extent   necessary so that they will not render this Agreement or the other Credit Documents invalid or   unenforceable.     

 

   -102-    Section 12.24. Excess Interest.  Notwithstanding any provision to the contrary contained   herein or in any other Credit Document, no such provision shall require the payment or permit   the collection of any amount of interest in excess of the maximum amount of interest permitted   by applicable law to be charged for the use or detention, or the forbearance in the collection, of   all or any portion of the Loans, Swingline Loans or other obligations outstanding under this   Agreement or any other Credit Document (“Excess Interest”).  If any Excess Interest is provided   for, or is adjudicated to be provided for, herein or in any other Credit Document, then in such   event (a) the provisions of this Section 12.24 shall govern and control, (b) neither the Borrower   nor any guarantor or endorser shall be obligated to pay any Excess Interest, (c) any Excess   Interest that the Administrative Agent or any Lender may have received hereunder shall, at the   option of the Administrative Agent, be (i) applied as a credit against the then outstanding   principal amount of Obligations hereunder and accrued and unpaid interest thereon (not to   exceed the maximum amount permitted by applicable law), (ii) refunded to the Borrower, or   (iii) any combination of the foregoing, (d) the interest rate payable hereunder or under any other   Credit Document shall be automatically subject to reduction to the maximum lawful contract rate   allowed under applicable usury laws (the “Maximum Rate”), and this Agreement and the other   Credit Documents shall be deemed to have been, and shall be, reformed and modified to reflect   such reduction in the relevant interest rate, and (e) neither the Borrower nor any guarantor or   endorser shall have any action against the Administrative Agent or any Lender for any damages   whatsoever arising out of the payment or collection of any Excess Interest.  Notwithstanding the   foregoing, if for any period of time interest on any of Borrower’s Obligations is calculated at the   Maximum Rate rather than the applicable rate under this Agreement, and thereafter such   applicable rate becomes less than the Maximum Rate, the rate of interest payable on the   Borrower’s Obligations shall remain at the Maximum Rate until the Lenders have received the   amount of interest which such Lenders would have received during such period on the   Borrower’s Obligations had the rate of interest not been limited to the Maximum Rate during   such period.    Section 12.25. Construction.  The parties acknowledge and agree that the Credit   Documents shall not be construed more favorably in favor of any party hereto based upon which   party drafted the same, it being acknowledged that all parties hereto contributed substantially to   the negotiation of the Credit Documents.  NOTHING CONTAINED HEREIN SHALL BE DEEMED OR   CONSTRUED TO PERMIT ANY ACT OR OMISSION WHICH IS PROHIBITED BY THE TERMS OF ANY CREDIT   DOCUMENT, THE COVENANTS AND AGREEMENTS CONTAINED HEREIN BEING IN ADDITION TO AND   NOT IN SUBSTITUTION FOR THE COVENANTS AND AGREEMENTS CONTAINED IN THE CREDIT   DOCUMENTS.    Section 12.26. Lender’s and L/C Issuers’ Obligations Several.  The obligations of the   L/C Issuers and the Lenders hereunder are several and not joint.  Nothing contained in this   Agreement and no action taken by the Lenders or any L/C Issuer pursuant hereto shall be   deemed to constitute the Lenders and L/C Issuer a partnership, association, joint venture or other   entity.    Section 12.27. No Advisory or Fiduciary Responsibility.  In connection with all aspects of   each transaction contemplated hereby (including in connection with any amendment, waiver or   other modification hereof or of any other Credit Document), the Borrower and each Guarantor     

 

   -103-   acknowledges and agrees and acknowledges its Affiliates’ understanding that (i) (A) the services   regarding this Agreement provided by the Administrative Agent and/or the Lenders are arm’s-   length commercial transactions between the Borrower, each Guarantor and their respective   Affiliates, on the one hand, and the Administrative Agent and the Lenders, on the other hand,   (B) each of the Borrower and the Guarantors have consulted their own legal, accounting,   regulatory and tax advisors to the extent they have deemed appropriate, and (C) the Borrower   and each Guarantor is capable of evaluating and understanding, and understands and accepts, the   terms, risks and conditions of the transactions contemplated hereby and by the other Credit   Documents; (ii) (A) each of the Administrative Agent and the Lenders is and has been acting   solely as a principal and, except as expressly agreed in writing by the relevant parties, has not   been, is not, and will not be acting as an advisor, agent or fiduciary for the Borrower, any   Guarantor or any of their respective Affiliates, or any other Person, and (B) neither the   Administrative Agent nor any Lender has any obligation to the Borrower, any Guarantor or any   of their Affiliates with respect to the transaction contemplated hereby except those obligations   expressly set forth herein and in the other Credit Documents; and (iii) the Administrative Agent,   the Lenders and their respective Affiliates may be engaged in a broad range of transactions that   involve interests that differ from those of the Borrower, the Guarantors and their respective   Affiliates, and each of the Administrative Agent and the Lenders has no obligation to disclose   any of such interests to the Borrower, any Guarantor or any of their respective Affiliates.  To the   fullest extent permitted by law, each of the Borrower and each Guarantor hereby waives and   releases any claims that it may have against the Administrative Agent or any Lender with respect   to any breach or alleged breach of agency or fiduciary duty in connection with any aspect of any   transaction contemplated hereby.    Section 12.28. USA Patriot Act.  Each Lender and L/C Issuer that is subject to the   requirements of the USA Patriot Act (Title III of Pub. L. 107-56 (signed into law October 26,   2001)) (the “Act”) hereby notifies the Borrower and each Guarantor that pursuant to the   requirements of the Act, it is required to obtain, verify, and record information that identifies the   Borrower and each Guarantor, which information includes the name and address of the Borrower   and each Guarantor and other information that will allow such Lender and L/C Issuer to identify   the Borrower and each Guarantor in accordance with the Act.    Section 12.29. Acknowledgement and Consent to Bail-In of EEA Financial Institutions.   Notwithstanding anything to the contrary in any Loan Document or in any other agreement,   arrangement or understanding among any such parties, each party hereto acknowledges that any   liability of any EEA Financial Institution arising under any Loan Document, to the extent such   liability is unsecured, may be subject to the write-down and conversion powers of an EEA   Resolution Authority and agrees and consents to, and acknowledges and agrees to be bound by:    (a) the application of any Write-Down and Conversion Powers by an EEA   Resolution Authority to any such liabilities arising hereunder which may be payable to it   by any party hereto that is an EEA Financial Institution; and    (b) the effects of any Bail-in Action on any such liability, including, if   applicable:     

 

   -104-    (i) a reduction in full or in part or cancellation of any such liability;    (ii) a conversion of all, or a portion of, such liability into shares or   other instruments of ownership in such EEA Financial Institution, its parent   undertaking, or a bridge institution that may be issued to it or otherwise conferred   on it, and that such shares or other instruments of ownership will be accepted by it   in lieu of any rights with respect to any such liability under this Agreement or any   other Loan Document; or    (iii) the variation of the terms of such liability in connection with the   exercise of the write-down and conversion powers of any EEA Resolution   Authority.    Section 12.30. Amendment and Restatement.  This Agreement shall become effective on   the Effective Date and shall supersede all provisions of the Existing Credit Agreement as of such   date.  From and after the Effective Date, (a)(i) the commitments of those Lenders under the   Existing Credit Agreement that are continuing as Lenders under this Agreement (the   “Continuing Lenders”) shall be amended as set forth on Schedule 1 hereto and (ii) the   commitments of those “Lenders” under the Existing Credit Agreement that are not continuing as   Lenders under this Agreement (the “Non-Continuing Lenders”) shall automatically be   terminated and cease to have any further force or effect without further action by any Person, and   shall be replaced with the respective Commitments of such Continuing Lenders and of those   Lenders party to this Agreement that were not “Lenders” under the Existing Credit Agreement   immediately prior to the Effective Date (the “New Lenders”); (b) all outstanding “Revolving   Loans” of the Non-Continuing Lenders shall be repaid in full (together with all interest accrued   thereon and amounts payable pursuant to Section 1.12 hereof of the Existing Credit Agreement   in connection with such payment, and all fees accrued under the Existing Credit Agreement   through the Effective Date) on the Effective Date (and the Borrower  shall pay to each   Continuing Lender all amounts, if any, payable pursuant to Section 1.12 hereof of the Existing   Credit Agreement as if the outstanding Revolving Loans had been prepaid on the Effective   Date); and (c) all outstanding “Revolving Loans” of the Continuing Lenders and all interests in   outstanding “Letters of Credit” under the Existing Credit Agreement shall remain outstanding as   the initial Revolving Loans and Letters of Credit hereunder.   The Continuing Lenders and New Lenders each agree to make such purchases and sales   of interests in the Revolving Loans and L/C Obligations outstanding on the Effective Date   between themselves so that each Continuing Lender and New Lender is then holding its relevant   Revolver Percentage of outstanding Revolving Loans and risk participation interests in   outstanding L/C Obligations  based on their Revolving Credit Commitments as in effect after   giving effect hereto (such purchases and sales shall be arranged through the Administrative   Agent and each Lender hereby agrees to execute such further instruments and documents, if any,   as the Administrative Agent may reasonably request in connection therewith), with all   subsequent extensions of credit under this Agreement (including, without limitation,   participations in respect of all Swing Loans and Letters of Credit) to be made in accordance with   the respective Revolving Credit Commitments of the Lenders from time to time party to this   Agreement as provided herein.  All references made to the Existing Credit Agreement in any   Credit Document or in any other instrument or document shall, without more, be deemed to refer     

 

   -105-   to this Agreement.  This Agreement amends and restates the Existing Credit Agreement and is   not intended to be or operate as a novation or an accord and satisfaction of the Existing Credit   Agreement or the indebtedness, obligations and liabilities of the Borrower, or any Guarantor   evidenced or provided for thereunder.    [SIGNATURE PAGES TO FOLLOW]        

 

   Signature Page to Jones Lang LaSalle Finance B.V.   Second Amended and Restated Multicurrency Credit Agreement   IN WITNESS WHEREOF, the parties hereto have caused their duly authorized officers to   execute and deliver this Agreement as of the date first above written.   JONES LANG LASALLE FINANCE B.V.   By /s/ Reynout Alexander Vroegop_______    Title  Director   JONES LANG LASALLE INCORPORATED, as   Guarantor   By /s/ Bryan J. Duncan     Title  Executive V.P. & Global Treasurer   JONES LANG LASALLE CO-INVESTMENT, INC., as   Guarantor   By /s/ Bryan J. Duncan     Title  Vice President & Treasurer   JONES LANG LASALLE INTERNATIONAL, INC., as   Guarantor   By /s/ Bryan J. Duncan     Title  Vice President & Treasurer   LASALLE INVESTMENT MANAGEMENT, INC., as   Guarantor   By /s/  Michael Ricketts     Title   CFO     

 

   Signature Page to Jones Lang LaSalle Finance B.V.   Second Amended and Restated Multicurrency Credit Agreement   JONES LANG LASALLE AMERICAS, INC., as   Guarantor   By /s/ Bryan J. Duncan     Title   Executive V.P. & Treasurer   JONES LANG LASALLE LIMITED, as Guarantor   By /s/ James Jasionowski     Title  Attorney-in-Fact   JONES LANG LASALLE GMBH, as Guarantor   By /s/ Louis F. Bowers     Title  Attorney-in-Fact   JONES LANG LASALLE NEW ENGLAND LLC, as   Guarantor   By /s/ Bryan J. Duncan     Title   Executive V.P. & Global Treasurer   JONES LANG LASALLE BROKERAGE, INC., as   Guarantor   By /s/ Bryan J. Duncan     Title  Treasurer        

 

   Signature Page to Jones Lang LaSalle Finance B.V.   Second Amended and Restated Multicurrency Credit Agreement   “LENDERS”   BANK OF MONTREAL, individually as a Lender,   as Administrative Agent, Swingline Bank and   L/C Issuer   By /s/ Aaron Lanski     Title  Managing Director     

 

   Signature Page to Jones Lang LaSalle Finance B.V.   Second Amended and Restated Multicurrency Credit Agreement   BANK OF AMERICA, N.A., as a Lender and L/C   Issuer   By /s/ Jonathan M. Phillips     Title  Senior Vice President         

 

   Signature Page to Jones Lang LaSalle Finance B.V.   Second Amended and Restated Multicurrency Credit Agreement   BARCLAYS BANK PLC   By /s/ Gill Skala     Title  Director     

 

   Signature Page to Jones Lang LaSalle Finance B.V.   Second Amended and Restated Multicurrency Credit Agreement   WELLS FARGO BANK, N.A.   By /s/ Peg Laughlin     Title  Senior Vice President     

 

   Signature Page to Jones Lang LaSalle Finance B.V.   Second Amended and Restated Multicurrency Credit Agreement   THE ROYAL BANK OF SCOTLAND PLC   By /s/ John Tulloch     Title  Director, Portfolio Management         

 

   Signature Page to Jones Lang LaSalle Finance B.V.   Second Amended and Restated Multicurrency Credit Agreement   JPMORGAN CHASE BANK, NATIONAL   ASSOCIATION   By /s/ Christian Lunt     Title Executive Director     

 

   Signature Page to Jones Lang LaSalle Finance B.V.   Second Amended and Restated Multicurrency Credit Agreement   FIFTH THIRD BANK    By /s/ Daniel J. Clarke, Jr.     Title  Managing Director     

 

   Signature Page to Jones Lang LaSalle Finance B.V.   Second Amended and Restated Multicurrency Credit Agreement   PNC BANK, NATIONAL ASSOCIATION   By /s/ Terri Wyda     Title  Senior Vice President     

 

   Signature Page to Jones Lang LaSalle Finance B.V.   Second Amended and Restated Multicurrency Credit Agreement   HSBC BANK PLC   By /s/ Bryan R. DeBroka     Title   Relationship Director     

 

   Signature Page to Jones Lang LaSalle Finance B.V.   Second Amended and Restated Multicurrency Credit Agreement   HSBC BANK USA, NATIONAL ASSOCIATION   By /s/ Christina Michael     Title  Associate Vice President        

 

   Signature Page to Jones Lang LaSalle Finance B.V.   Second Amended and Restated Multicurrency Credit Agreement   U.S. BANK NATIONAL ASSOCIATION   By /s/ James N. DeVries     Title  Senior Vice President         

 

   Signature Page to Jones Lang LaSalle Finance B.V.   Second Amended and Restated Multicurrency Credit Agreement   THE BANK OF TOKYO-MITSUBISHI UFJ, LTD.,   NEW YORK BRANCH   By /s/ Christine Howatt     Title  Authorized Signatory         

 

   Signature Page to Jones Lang LaSalle Finance B.V.   Second Amended and Restated Multicurrency Credit Agreement   SOCIÉTÉ GÉNÉRALE   By /s/ Richard Bernal     Title  Managing Director         

 

   Signature Page to Jones Lang LaSalle Finance B.V.   Second Amended and Restated Multicurrency Credit Agreement   CAPITAL ONE, N.A.   By /s/ Sean C. Horridge     Title  Vice President            

 

   Signature Page to Jones Lang LaSalle Finance B.V.   Second Amended and Restated Multicurrency Credit Agreement   ING BANK N.V., DUBLIN BRANCH   By /s/ Sean Hassett     Title  Director      By /s/ Stephen Farrelly     Title  Vice President         

 

   Signature Page to Jones Lang LaSalle Finance B.V.   Second Amended and Restated Multicurrency Credit Agreement   THE BANK OF NEW YORK MELLON   By /s/ Helga Blum     Title  Managing Director     

 

   Signature Page to Jones Lang LaSalle Finance B.V.   Second Amended and Restated Multicurrency Credit Agreement   WESTPAC BANKING CORPORATION   By /s/ Su-Lin Watson     Title  Director        

 

   Signature Page to Jones Lang LaSalle Finance B.V.   Second Amended and Restated Multicurrency Credit Agreement   AUSTRALIA AND NEW ZEALAND BANKING   GROUP LIMITED   By /s/ Robert Grillo     Title  Director        

 

   Signature Page to Jones Lang LaSalle Finance B.V.   Second Amended and Restated Multicurrency Credit Agreement   NATIONAL AUSTRALIA BANK LIMITED,   A.B.N. 12 004 044 937   By /s/ Courtney Cloe     Title  Head of Institutional Banking            

 

   Signature Page to Jones Lang LaSalle Finance B.V.   Second Amended and Restated Multicurrency Credit Agreement   DEUTSCHE BANK AG NEW YORK BRANCH   By /s/ Joanna Soliman     Title  Vice President   By /s/ Perry Forman     Title  Director         

 

   Signature Page to Jones Lang LaSalle Finance B.V.   Second Amended and Restated Multicurrency Credit Agreement   THE NORTHERN TRUST COMPANY   By /s/ Sarah L. Sigfusson     Title  Second Vice President        

 

   Signature Page to Jones Lang LaSalle Finance B.V.   Second Amended and Restated Multicurrency Credit Agreement   ASSOCIATED BANK NATIONAL ASSOCIATION   By /s/ Edward U. Notz, Jr.     Title  Senior Vice President        

 

   Signature Page to Jones Lang LaSalle Finance B.V.   Second Amended and Restated Multicurrency Credit Agreement   COMERICA BANK   By /s/ Heather Kowalski     Title  Vice President           

 

           EXHIBIT A   NOTICE OF BORROWING    Date: ______________, ____   To: Bank of Montreal, as Administrative Agent for the Lenders parties to the Second Amended   and Restated Multicurrency Credit Agreement dated as of June 21, 2016 (as extended,   renewed, amended or restated from time to time, the “Credit Agreement”), among Jones   Lang LaSalle Finance B.V., the Guarantors party thereto, certain Lenders which are   signatories thereto, and Bank of Montreal, as Administrative Agent   Ladies and Gentlemen:   The undersigned, Jones Lang LaSalle Finance B.V. (the “Borrower”), refers to the Credit   Agreement, the terms defined therein being used herein as therein defined, and hereby gives you   notice irrevocably, pursuant to Section 1.6 of the Credit Agreement, of the Borrowing specified   below:    1. The Business Day of the proposed Borrowing is ___________, ____.    2. The aggregate amount of the proposed Borrowing is $______________.    3. The Borrowing is to be comprised of $___________ of [Domestic Rate]   [Eurocurrency] Loans.    4. The Borrowing is being advanced under the [Revolving] [Term] Facility.    [5. The duration of the Interest Period for the Eurocurrency Loans   included in the Borrowing shall be ____________ months.]   The undersigned hereby certifies that[, insert if applicable:  subject to Section 4.4 of   the Credit Agreement,] the following statements are true on the date hereof, and will be true on   the date of the proposed Borrowing, before and after giving effect thereto and to the application   of the proceeds therefrom:    (a) the representations and warranties contained in Section 5 of the Credit   Agreement are true and correct in all material respects (where not already qualified by   materiality, otherwise in all respects) as though made on and as of such date (except to   the extent such representations and warranties relate to an earlier date, in which case they   are true and correct in all material respects (where not already qualified by materiality,   otherwise in all respects) as of such date); and    (b) no Default or Event of Default has occurred and is continuing or would   result from such proposed Borrowing.     

 

   A-2   1055239.02B-CHISR02A - MSW   JONES LANG LASALLE FINANCE B.V.   By ____________________________________    Name ________________________________    Title _________________________________        

 

        EXHIBIT B   NOTICE OF CONTINUATION/CONVERSION   Date:  ____________, ____   To: Bank of Montreal, as Administrative Agent for the Lenders parties to the Second Amended   and Restated Multicurrency Credit Agreement dated as of June 21, 2016 (as extended,   renewed, amended or restated from time to time, the “Credit Agreement”), among Jones   Lang LaSalle Finance B.V., the Guarantors party thereto, certain Lenders which are   signatories thereto, and Bank of Montreal, as Administrative Agent   Ladies and Gentlemen:   The undersigned, Jones Lang LaSalle Finance B.V. (the “Borrower”), refers to the Credit   Agreement, the terms defined therein being used herein as therein defined, and hereby gives you   notice irrevocably, pursuant to Section 1.6 of the Credit Agreement, of the [conversion]   [continuation] of the Loans specified herein, that:    1. The [conversion][continuation] Date is __________, ____.    2. The aggregate amount of the [Revolving Loans] [Term Loans] to be   [converted] [continued] is $______________.    3. The Loans are to be [converted into] [continued as] [Eurocurrency]   [Domestic Rate] Loans.    4. [If applicable:]  The duration of the Interest Period for the Loans included   in the [conversion] [continuation] shall be _________ months.   The undersigned hereby certifies that the following statements are true on the date hereof,   and will be true on the proposed conversion/continuation date, before and after giving effect   thereto and to the application of the proceeds therefrom:    (a) the representations and warranties contained in Section 5 of the Credit   Agreement are true and correct as though made on and as of such date (except to the   extent such representations and warranties relate to an earlier date, in which case they are   true and correct as of such date); provided, however, that this condition shall only apply   to the continuation or conversion of an outstanding Eurocurrency Loan denominated in   an Alternative Currency; and     

 

   B-2    (b) no Default or Event of Default has occurred and is continuing, or would   result from such proposed [conversion] [continuation].   JONES LANG LASALLE FINANCE B.V.   By ____________________________________    Name ________________________________    Title _________________________________        

 

        EXHIBIT C-1   REVOLVING NOTE   ________________, _____   FOR VALUE RECEIVED, the undersigned, Jones Lang LaSalle Finance B.V., a private   company with limited liability organized under the laws of The Netherlands (the “Borrower”),   promises to pay ________________________ or its registered permitted assigns (the “Lender”)   on the Termination Date of the hereinafter defined Credit Agreement, at the principal office of   Bank of Montreal, as Administrative Agent, in Chicago, Illinois (or in the case of Eurocurrency   Loans denominated in an Alternative Currency, at such office as the Administrative Agent has   previously notified the Borrower), in the currency of such Loan in accordance with Section 3.1   of the Credit Agreement, the aggregate unpaid principal amount of all Revolving Loans made by   the Lender to the Borrower pursuant to the Credit Agreement, together with interest on the   principal amount of each such Revolving Loan from time to time outstanding hereunder at the   rates, and payable in the manner and on the dates, specified in the Credit Agreement.   The Lender shall record on its books or records or on a schedule attached to this Note,   which is a part hereof, each Revolving Loan made by it pursuant to the Credit Agreement,   together with all payments of principal and interest and the principal balances from time to time   outstanding hereon, whether such Revolving Loan is a Domestic Rate Loan or a Eurocurrency   Loan, the currency thereof and the interest rate and Interest Period applicable thereto, provided   that prior to the transfer of this Note all such amounts shall be recorded on a schedule attached to   this Note.  The record thereof, whether shown on such books or records or on a schedule to this   Note, shall be prima facie evidence of the same, provided, however, that the failure of the Lender   to record any of the foregoing or any error in any such record shall not limit or otherwise affect   the obligation of the Borrower to repay all Loans made to it pursuant to the Credit Agreement   together with accrued interest thereon.   This Note is one of the Revolving Notes referred to in the Second Amended and Restated   Multicurrency Credit Agreement dated as of June 21, 2016, among the Borrower, the Guarantors   party thereto, Bank of Montreal, as Administrative Agent, and the Lenders party thereto (as   amended from time to time, the “Credit Agreement”), and this Note and the holder hereof are   entitled to all the benefits provided for thereby or referred to therein, to which Credit Agreement   reference is hereby made for a statement thereof.  All defined terms used in this Note, except   terms otherwise defined herein, shall have the same meaning as in the Credit Agreement.  This   Note shall be governed by and construed in accordance with the internal laws of the State of   Illinois.   Prepayments may be made hereon and this Note may be declared due prior to the   expressed maturity hereof, all in the events, on the terms and in the manner as provided for in the   Credit Agreement.     

 

   C-1-2   The Borrower hereby waives demand, presentment, protest or notice of any kind   hereunder.   JONES LANG LASALLE FINANCE B.V.   By ____________________________________    Title ________________________________     

 

        EXHIBIT C-2   SWINGLINE NOTE   ________________, _____   FOR VALUE RECEIVED, the undersigned, Jones Lang LaSalle Finance B.V., a private   company with limited liability organized under the laws of The Netherlands (the “Borrower”),   promises to pay ________________________ or its registered permitted assigns (the “Lender”)   on the earlier of (i) the last day of its Interest Period and (ii) the Termination Date of the   hereinafter defined Credit Agreement, at the principal office of Bank of Montreal, as   Administrative Agent, in Chicago, Illinois, in the currency of such Swingline Loan in accordance   with Section 3.1 of the Credit Agreement, the aggregate unpaid principal amount of all   Swingline Loans made by the Lender to the Borrower pursuant to the Credit Agreement, together   with interest on the principal amount of each Swingline Loan from time to time outstanding   hereunder at the rates, and payable in the manner and on the dates, specified in the Credit   Agreement.   The Lender shall record on its books or records or on a schedule attached to this Note,   which is a part hereof, each Swingline Loan made by it pursuant to the Credit Agreement,   together with all payments of principal and interest and the principal balances from time to time   outstanding hereon, whether the Loan is a Domestic Rate Loan or a Quoted Rate Loan and the   interest rate and Interest Period applicable thereto, provided that prior to the transfer of this Note   all such amounts shall be recorded on a schedule attached to this Note.  The record thereof,   whether shown on such books or records or on a schedule to this Note, shall be prima facie   evidence of the same, provided, however, that the failure of the Lender to record any of the   foregoing or any error in any such record shall not limit or otherwise affect the obligation of the   Borrower to repay all Swingline Loans made to it pursuant to the Credit Agreement together   with accrued interest thereon.   This Swingline Note is one of the Notes referred to in the Second Amended and Restated   Multicurrency Credit Agreement dated as of June 21, 2016, among the Borrower, the Guarantors   party thereto, Bank of Montreal, as Administrative Agent, and the Lenders party thereto (as   amended from time to time, the “Credit Agreement”), and this Swingline Note and the holder   hereof are entitled to all the benefits provided for thereby or referred to therein, to which Credit   Agreement reference is hereby made for a statement thereof.  All defined terms used in this   Swingline Note, except terms otherwise defined herein, shall have the same meaning as in the   Credit Agreement.  This Swingline Note shall be governed by and construed in accordance with   the internal laws of the State of Illinois.   Prepayments may be made hereon and this Swingline Note may be declared due prior to   the expressed maturity hereof, all in the events, on the terms and in the manner as provided for in   the Credit Agreement.     

 

   C-2-2   The Borrower hereby waives demand, presentment, protest or notice of any kind   hereunder.   JONES LANG LASALLE FINANCE B.V.   By ____________________________________    Title ________________________________     

 

        EXHIBIT C-3   TERM NOTE   ________________, _____   FOR VALUE RECEIVED, the undersigned, Jones Lang LaSalle Finance B.V., a private   company with limited liability organized under the laws of The Netherlands (the “Borrower”),   promises to pay  ________________________ or its registered permitted assigns (the “Lender”)   on the Termination Date of the hereinafter defined Credit Agreement, at the principal office of   Bank of Montreal, as Administrative Agent, in Chicago, Illinois (or in the case of Eurocurrency   Loans denominated in an Alternative Currency, at such office as the Administrative Agent has   previously notified the Borrower), in the currency of such Loan in accordance with Section 3.1   of the Credit Agreement, the aggregate unpaid principal amount of all Term Loans made by the   Lender to the Borrower pursuant to the Credit Agreement, together with interest on the principal   amount of each such Term Loan from time to time outstanding hereunder at the rates, and   payable in the manner and on the dates, specified in the Credit Agreement.   The Lender shall record on its books or records or on a schedule attached to this Note,   which is a part hereof, each Term Loan made by it pursuant to the Credit Agreement, together   with all payments of principal and interest and the principal balances from time to time   outstanding hereon, whether such Term Loan is a Domestic Rate Loan or a Eurocurrency Loan,   the currency thereof and the interest rate and Interest Period applicable thereto, provided that   prior to the transfer of this Note all such amounts shall be recorded on a schedule attached to this   Note.  The record thereof, whether shown on such books or records or on a schedule to this Note,   shall be prima facie evidence of the same, provided, however, that the failure of the Lender to   record any of the foregoing or any error in any such record shall not limit or otherwise affect the   obligation of the Borrower to repay all Loans made to it pursuant to the Credit Agreement   together with accrued interest thereon.   This Note is one of the Term Notes referred to in the Second Amended and Restated   Multicurrency Credit Agreement dated as of June 21, 2016, among the Borrower, the Guarantors   party thereto, Bank of Montreal, as Administrative Agent, and the Lenders party thereto (as   amended from time to time, the “Credit Agreement”), and this Note and the holder hereof are   entitled to all the benefits provided for thereby or referred to therein, to which Credit Agreement   reference is hereby made for a statement thereof.  All defined terms used in this Note, except   terms otherwise defined herein, shall have the same meaning as in the Credit Agreement.  This   Note shall be governed by and construed in accordance with the internal laws of the State of   Illinois.   Prepayments may be made hereon and this Note may be declared due prior to the   expressed maturity hereof, all in the events, on the terms and in the manner as provided for in the   Credit Agreement.     

 

   C-3-2   The Borrower hereby waives demand, presentment, protest or notice of any kind   hereunder.   JONES LANG LASALLE FINANCE B.V.   By ____________________________________    Title _________________________________    

 

        EXHIBIT D   COMPLIANCE CERTIFICATE   This Compliance Certificate is furnished to Bank of Montreal, as Administrative Agent,   pursuant to the Second Amended and Restated Multicurrency Credit Agreement (as amended   from time to time, the “Credit Agreement”) dated as of June 21, 2016, by and among Jones Lang   LaSalle Finance B.V., the Guarantors party thereto, the Lenders signatory thereto and Bank of   Montreal, as Administrative Agent.  Unless otherwise defined herein, the terms used in this   Compliance Certificate have the meanings ascribed thereto in the Credit Agreement.   THE UNDERSIGNED HEREBY CERTIFY THAT:    1. I, _______________, am the duly elected or appointed _______________   of Jones Lang LaSalle Incorporated;    2. I, _______________, am the duly elected or appointed _______________   of Jones Lang LaSalle Finance B.V.;    3. We have reviewed the terms of the Credit Agreement and we have made,   or have caused to be made under our supervision, a detailed review of the transactions   and conditions of Jones Lang LaSalle Incorporated and its Subsidiaries during the   accounting period covered by the attached financial statements;    4. The examinations described in paragraph 3 did not disclose, and we have   no knowledge of, the existence of any condition or event which constitutes a Default or   an Event of Default during or at the end of the accounting period covered by the attached   financial statements, except as set forth below;    5. The financial statements required by Section 7.6 of the Credit Agreement   and being furnished to you concurrently with this Compliance Certificate are true, correct   and complete as of the date and for the periods covered thereby; and    6. Schedule 1 attached hereto sets forth financial data and computations   evidencing compliance with certain covenants of the Credit Agreement, all of which data   and computations are true, complete and correct.  All computations are made in   accordance with the terms of the Credit Agreement.   Described below are the exceptions, if any, to paragraph 4 by listing, in detail, the nature   of the condition or event, the period during which it has existed and the action which the Parent   has taken, is taking, or proposes to take with respect to each such condition or event:   ______________________________________________________________________   ______________________________________________________________________   ______________________________________________________________________     

 

   D-2   ______________________________________________________________________   The foregoing certifications, together with the computations set forth in Schedule 1   hereto and the financial statements delivered with this Certificate in support hereof, are made and   delivered this __________ day of _____________, _____.   JONES LANG LASALLE INCORPORATED   By ____________________________________    Title _________________________________   JONES LANG LASALLE FINANCE B.V.   By ____________________________________    Title _________________________________        

 

        SCHEDULE I TO THE COMPLIANCE CERTIFICATE   Schedule of Compliance, as of the _________ day of _____________, _____, with the   Sections of the Credit Agreement set forth below:   1. Section 7.15 (Net Cash Flow Leverage Ratio)    A. Total Funded Debt of the Parent and its  $____________   Restricted Subsidiaries    B. Qualified Cash    (i) U.S. cash $___________    (ii) Foreign cash $___________    (iii) Line 1B(ii) times .75 $___________    (iv) Sum of Lines 1B(i) and 1B(iii)    not to exceed $100,000,000 $___________    (v) Segregated cash $___________    Total (iv) and (v) $___________    C. Line A minus Line B $___________    D. Adjusted EBITDA for the calendar quarters   ending    _______________________ $____________    _______________________ $____________    _______________________ $____________    _______________________ $____________     TOTAL $____________    E. Consolidated Net Income for the last four   calendar quarters if not included in Line D $____________    F. Amounts deducted in arriving at    Consolidated Net Income in respect of for   the last four calendar quarters if not included   in Line E    (i) Interest Expense $____________    (ii) federal, state and local $____________   income taxes     

 

   -2-    (iii) depreciation of fixed assets $____________   and amortization of intangible   assets    (iv) non-cash contributions and $____________   accruals to deferred profit    sharing or compensation plans    (v) Permitted Adjustments    (a) Cash restructuring expenses $____________     (aggregate amount since April 1, 2016   $_______ not to exceed $100,000,000)    (b) Non-cash restructuring expenses $____________    (c) Deferred commissions, net of  $____________     commissions payable   (not to exceed $50,000,000)    (aggregate amount since April 1, 2016   $_______, not to exceed $100,000,000)    (d) Non-cash charges relating    to co-investments $____________     (aggregate amount since April 1, 2016   $_______, not to exceed $50,000,000)    (e) Non-cash charges relating to    impairment at goodwill $____________    (f) Acquisition, integration and transition   charges related to Permitted Acquisition $____________     (aggregate amount since April 1, 2016   $_______, not to exceed $400,000,000)    (g) Non-cash (gains)/losses relating to    (a) mark-to-market value of    co-investments and earn-outs   and (b) mortgage servicing rights $____________    (h) Non-recurring fees, expenses or    charges paid in connection with debt   or equity financing activities $____________     

 

   -3-    (i) write-downs of tax indemnification   assets to the extent the related tax   reserve is released $____________    Total (a) through (i) $____________    G. Sum of Lines 1D, 1E, 1F(i), 1F(ii), 1F(iii), 1F(iv) $____________   and 1F(v) (“Adjusted EBITDA”)    H. Ratio of Line 1C to Line 1G (not to exceed  _____________   3.50 or 4.00, as applicable, per Section 7.15)    I. The Borrower is in compliance Yes/No   2. Section 7.16 (Cash Interest Coverage Ratio)    A. Adjusted EBIT for the calendar quarters   ending (include as appropriate)    ______________________ $____________    ______________________ $____________    ______________________ $____________    ______________________ $____________     TOTAL $____________    B. Consolidated Net Income for the last four   calendar quarters if not included in Line A $____________    C. Amounts deducted in arriving at    Consolidated Net Income in respect of for   the last four calendar quarters if not included   in Line A    (i) Interest Expense $____________    (ii) federal, state and local $____________   income taxes    (iii) non-cash contributions and $____________   accruals to deferred profit    sharing or compensation plans    (iv) Permitted Adjustments $____________    (From Line 1.D(v))     

 

   -4-    D. Sum of Lines 2A, 2B, 2C(i), 2C(ii), 2C(iii), and 2C(iv) $____________   (“Adjusted EBIT”)    E. Cash Interest Expense $____________    F. Ratio of Line 2D to Line 2E (must be greater than _____________   or equal to 3.00 to 1.00)    G. The Borrower is in compliance Yes/No   3. Cash Flow Leverage Ratio (Applicable Margin Calculation)    A. Total Funded Debt of the Parent and its  $____________   Restricted Subsidiaries    B. Adjusted EBITDA from Line 1G $____________    C. Ratio of Line 3A to Line 3B $____________    D. The Borrower is in Level: Level ____        

 

        EXHIBIT E   SUBSIDIARY GUARANTEE AGREEMENT         _______________, ____   BANK OF MONTREAL, as Administrative   Agent for the Lenders party to the   Second Amended and Restated   Multicurrency Credit Agreement dated   as of June 21, 2016, among Jones Lang   LaSalle Finance B.V., certain   Guarantors, such Lenders and such   Administrative Agent (as amended from   time to time, the “Credit Agreement”)   Dear Sirs:   Reference is made to the Credit Agreement described above.  Terms not defined herein   which are defined in the Credit Agreement shall have for the purposes hereof the meaning   provided therein.   The undersigned, [name of Subsidiary Guarantor], a [jurisdiction of incorporation]   corporation, hereby elects to be a “Guarantor” for all purposes of the Credit Agreement,   effective from the date hereof.  The undersigned confirms that the representations and warranties   set forth in Section 5 of the Credit Agreement are true and correct as to the undersigned as of the   date hereof.   Without limiting the generality of the foregoing, the undersigned hereby agrees to   perform all the obligations of a Guarantor under, and to be bound in all respects by the terms of,   the Credit Agreement, including without limitations Section 11 thereof, to the same extent and   with the same force and effect as if the undersigned were a direct signatory thereto.     

 

   E-2   This Agreement shall be construed in accordance with and governed by the internal laws   of the State of Illinois.   Very truly yours,   [NAME OF SUBSIDIARY GUARANTOR]   By ____________________________________    Name _______________________________    Title ________________________________     

 

        EXHIBIT F   INCREASE REQUEST   To: Bank of Montreal, as Administrative Agent for the Lenders parties to the Second   Amended and Restated Multicurrency Credit Agreement dated as of June 21, 2016 (as   extended, renewed, amended or restated from time to time, the “Credit Agreement”),   among Jones Lang LaSalle Finance B.V., the Guarantors party thereto, certain Lenders   which are signatories thereto, and Bank of Montreal, as Administrative Agent   Ladies and Gentlemen:   The undersigned, Jones Lang LaSalle Finance B.V. (the “Borrower”), hereby refers to   the Credit Agreement and requests that the Administrative Agent, L/C Issuer and Swingline   Lender consent to an increase in the aggregate [Revolving Credit Commitments] [outstanding   principal amount of Term Loans] (the “Increase”), in accordance with Section 1.15 of the   Credit Agreement, to be effected by an increase in [the Revolving Credit Commitment] [an   increase in the outstanding Term Loans] of [name of existing Lender] [the addition of   [name of new Lender] (the “New Lender”) as a Lender under the terms of the Credit   Agreement].  Capitalized terms used herein without definition shall have the same meanings   herein as such terms have in the Credit Agreement.   [Insert as Applicable]   After giving effect to such Increase, the Revolving Credit Commitment of the [Lender]   [New Lender] shall be $_____________.   Or   The New Term Loan of the [Lender] [New Lender] is $_______________.   [Include paragraphs 1-3 for a New Lender]    1. The New Lender hereby confirms that it has received a copy of the Credit   Documents and the exhibits related thereto, together with copies of the documents which were   required to be delivered under the Credit Agreement as a condition to the making of the Loans   and other extensions of credit thereunder.  The New Lender acknowledges and agrees that it has   made and will continue to make, independently and without reliance upon the Administrative   Agent or any other Lender and based on such documents and information as it has deemed   appropriate, its own credit analysis and decisions relating to the Credit Agreement.  The New   Lender further acknowledges and agrees that the Administrative Agent has not made any   representations or warranties about the credit worthiness of the Borrower or any other party to   the Credit Agreement or any other Credit Document or with respect to the legality, validity,   sufficiency or enforceability of the Credit Agreement or any other Credit Document or the value   of any security therefor.     

 

   F-2    2. Except as otherwise provided in the Credit Agreement, effective as of the date of   acceptance hereof by the Administrative Agent, the New Lender (i) shall be deemed   automatically to have become a party to the Credit Agreement and have all the rights and   obligations of a “Lender” under the Credit Agreement as if it were an original signatory thereto   and (ii) agrees to be bound by the terms and conditions set forth in the Credit Agreement as if it   were an original signatory thereto.    3. The New Lender hereby confirms that its administrative details are set forth in its   Administrative Questionnaire.   THIS AGREEMENT SHALL BE DEEMED TO BE A CONTRACTUAL OBLIGATION UNDER, AND   SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF   ILLINOIS.   The Increase shall be effective when the executed consent of the Administrative Agent is   received or is otherwise in accordance with Section 1.15 of the Credit Agreement, but not in any   case prior to ___________________, ____.  It shall be a condition to the effectiveness of the   Increase that all expenses referred to in Section 1.15 of the Credit Agreement shall have been   paid.   The Borrower hereby certifies that no Default or Event of Default has occurred and is   continuing and that the representations and warranties contained in Section 5 of the Credit   Agreement are true and correct in all material respects as though made on the date hereof (other   than those made solely as of an earlier date, which need only remain true as of such date), taking   into account any amendments to such Section (including without limitation any amendment to   the Schedules referenced therein) made after the date of the Credit Agreement in accordance   with its provisions[, in each case subject to the provisions of Section 4.4 of the Credit Agreement   in the case of any New Term Loan the proceeds of which will be used to finance a Limited   Condition Acquisition].     

 

   F-3   Please indicate the Administrative Agent’s consent to such Increase by signing the   enclosed copy of this letter in the space provided below.   Very truly yours,   JONES LANG LASALLE FINANCE B.V.   By ____________________________________   Name: _______________________________   Title: ________________________________   [NEW OR EXISTING LENDER INCREASING   REVOLVING CREDIT COMMITMENT OR   ADVANCING NEW TERM LOAN]   By ____________________________________   Name ________________________________   Title _________________________________   The undersigned hereby consents on this   ___ day of ____________, ______ to the   above-requested Increase.   BANK OF MONTREAL,       As Administrative Agent   By _______________________________     Name __________________________     Title ___________________________    ________________________,     as Swingline Lender   By _______________________________     Name __________________________     Title ___________________________         

 

      EXHIBIT G      ASSIGNMENT AND ACCEPTANCE      Dated _____________, 20_____   This Assignment and Acceptance (the “Assignment and Acceptance”) is dated as of the   Effective Date set forth below and is entered into by and between [the][each]1 Assignor   identified in item 1 below ([the][each, an] “Assignor”) and [the][each]2 Assignee identified in   item 2 below ([the][each, an] “Assignee”).  [It is understood and agreed that the rights and   obligations of [the Assignors][the Assignees]3 hereunder are several and not joint.]4    Capitalized terms used but not defined herein shall have the meanings given to them in the Credit   Agreement identified below (as amended, the “Credit Agreement”), receipt of a copy of which is   hereby acknowledged by [the][each] Assignee.  The Standard Terms and Conditions set forth in   Annex 1 attached hereto are hereby agreed to and incorporated herein by reference and made a   part of this Assignment and Acceptance as if set forth herein in full.   For an agreed consideration, [the][each] Assignor hereby irrevocably sells and assigns to   [the Assignee][the respective Assignees], and [the][each] Assignee hereby irrevocably   purchases and assumes from [the Assignor][the respective Assignors], subject to and in   accordance with the Standard Terms and Conditions and the Credit Agreement, as of the   Effective Date inserted by the Administrative Agent as contemplated below (i) all of [the   Assignor’s][the respective Assignors’] rights and obligations in [its capacity as a   Lender][their respective capacities as Lenders] under the Credit Agreement and any other   documents or instruments delivered pursuant thereto to the extent related to the amount and   percentage interest identified below of all of such outstanding rights and obligations of [the   Assignor][the respective Assignors] under the respective facilities identified below (including   without limitation any letters of credit, guarantees, and swingline loans included in such   facilities), and (ii) to the extent permitted to be assigned under applicable law, all claims, suits,   causes of action and any other right of [the Assignor (in its capacity as a Lender)][the   respective Assignors (in their respective capacities as Lenders)] against any Person, whether   known or unknown, arising under or in connection with the Credit Agreement, any other   documents or instruments delivered pursuant thereto or the transactions governed thereby or in   any way based on or related to any of the foregoing, including, but not limited to, contract   claims, tort claims, malpractice claims, statutory claims and all other claims at law or in equity                                                      1 For bracketed language here and elsewhere in this form relating to the Assignor(s), if the assignment is   from a single Assignor, choose the first bracketed language.  If the assignment is from multiple Assignors,   choose the second bracketed language.   2 For bracketed language here and elsewhere in this form relating to the Assignee(s), if the assignment is to a   single Assignee, choose the first bracketed language.  If the assignment is to multiple Assignees, choose the   second bracketed language.   3 Select as appropriate.   4 Include bracketed language if there are either multiple Assignors or multiple Assignees.     

 

   G-2   related to the rights and obligations sold and assigned pursuant to clause (i) above (the rights and   obligations sold and assigned by [the][any] Assignor to [the][any] Assignee pursuant to   clauses (i) and (ii) above being referred to herein collectively as [the][an] “Assigned Interest”).    Each such sale and assignment is without recourse to [the][any] Assignor and, except as   expressly provided in this Assignment and Acceptance, without representation or warranty by   [the][any] Assignor.   1. Assignor[s]: ________________________________    ________________________________   [Assignor [is] [is not] a Defaulting Lender]   2. Assignee[s]: ________________________________    ________________________________   [for each Assignee, indicate [Affiliate][Approved Fund] of [identify Lender]   3. Borrower(s): ________________________________   4. Administrative Agent: Bank of Montreal, as the administrative agent under the   Credit Agreement   5. Credit Agreement: Second Amended and Restated Credit Agreement dated as   of June 21, 2016 among Jones Lang LaSalle Finance B.V., the Lenders parties   thereto, Bank of Montreal, as Administrative Agent, and the other agents parties   thereto     

 

   G-3   6. Assigned Interest[s]:   ASSIGNOR[S]5 ASSIGNEE[S]6   FACILITY   ASSIGNMENT7   AGGREGATE   AMOUNT OF   REVOLVING   CREDIT   COMMITMENT/   LOANS FOR    ALL LENDERS8   AMOUNT OF REVOLVING   CREDIT COMMITMENT/   LOANS ASSIGNED9   PERCENTAGE ASSIGNED   OF REVOLVING CREDIT   COMMITMENT/   LOANS10      $ $ %      $ $ %      $ $ %    [7. Trade Date: ______________]11                                                         5 List each Assignor, as appropriate.   6 List each Assignee, as appropriate.   7  Fill in the appropriate terminology for the types of facilities under the Credit Agreement that are being   assigned under this Assignment (e.g., “Revolving Credit Commitment,” “Term Facility,” etc.).   8 Amount to be adjusted by the counterparties to take into account any payments or prepayments made   between the Trade Date and the Effective Date.   9  Set forth, to at least 9 decimals, as a percentage of the Revolving Credit Commitments/Loans of all Lenders   thereunder.   10  To be completed if the Assignor(s) and the Assignee(s) intend that the minimum assignment amount is to   be determined as of the Trade Date.           

 

   G-4   Effective Date: ________________, 20___ [To be inserted by Administrative Agent   and which shall be the effective date of recordation of transfer in the register therefor.]   The terms set forth in this Assignment and Acceptance are hereby agreed to:   ASSIGNOR[S]12   [NAME OF ASSIGNOR]   By: ____________________________________    Name: _______________________________    Title: ________________________________   [NAME OF ASSIGNOR]   By: ____________________________________    Name: _______________________________    Title: ________________________________   ASSIGNEE[S]13   [NAME OF ASSIGNEE]   By: ____________________________________    Name: _______________________________    Title: ________________________________   [NAME OF ASSIGNEE]   By: ____________________________________    Name: _______________________________    Title: ________________________________                                                         12 Add additional signature blocks as needed. Include both Fund/Pension Plan and manager making the trade   (if applicable).   13 Add additional signature blocks as needed. Include both Fund/Pension Plan and manager making the trade   (if applicable).     

 

   G-5   [Consented to and]14 Accepted:   BANK OF MONTREAL, as     Administrative Agent   By: _________________________________    Name: __________________________    Title: ___________________________   [Consented to:]15   [NAME OF RELEVANT PARTY]   By: _________________________________    Name: __________________________    Title: ___________________________                                                         14 To be added only if the consent of the Administrative Agent is required by the terms of the Credit   Agreement.   15 To be added only if the consent of the Company and/or other parties (e.g. Swing Line Lender, L/C Issuer)   is required by the terms of the Credit Agreement.       

 

       ANNEX 1   STANDARD TERMS AND CONDITIONS FOR   ASSIGNMENT AND ASSUMPTION   SECTION 1. REPRESENTATIONS AND WARRANTIES.    Section 1.1. Assignor[s].  [The][Each] Assignor (a) represents and warrants that (i) it is   the legal and beneficial owner of [the][the relevant] Assigned Interest, (ii) [the][such] Assigned   Interest is free and clear of any lien, encumbrance or other adverse claim created by [the] [such]   Assignor, (iii) it has full power and authority, and has taken all action necessary, to execute and   deliver this Assignment and Assumption and to consummate the transactions contemplated   hereby and (iv) it is [not] a Defaulting Lender; and (b) assumes no responsibility with respect to   (i) any statements, warranties or representations made in or in connection with the Credit   Agreement or any other Credit Document, (ii) the execution, legality, validity, enforceability,   genuineness, sufficiency or value of the Credit Documents or any collateral thereunder, (iii) the   financial condition of the Borrower, the Parent, any of their respective Subsidiaries or Affiliates   or any other Person obligated in respect of any Credit Document, or (iv) the performance or   observance by the Borrower, the Parent, any of their respective Subsidiaries or Affiliates or any   other Person of any of their respective obligations under any Credit Document.    Section 1.2. Assignee[s].  [The][Each] Assignee (a) represents and warrants that (i) it   has full power and authority, and has taken all action necessary, to execute and deliver this   Assignment and Assumption and to consummate the transactions contemplated hereby and to   become a Lender under the Credit Agreement, (ii) it meets all the requirements to be an assignee   under Section 12.12(a) of the Credit Agreement (subject to such consents, if any, as may be   required under Section 12.12(a) of the Credit Agreement), (iii) from and after the Effective Date,   it shall be bound by the provisions of the Credit Agreement as a Lender thereunder and, to the   extent of [the][the relevant] Assigned Interest, shall have the obligations of a Lender   thereunder, (iv) it is sophisticated with respect to decisions to acquire assets of the type   represented by the Assigned Interest and either it, or the Person exercising discretion in making   its decision to acquire the Assigned Interest, is experienced in acquiring assets of such type, (v) it   has received a copy of the Credit Agreement, and has received or has been accorded the   opportunity to receive copies of the most recent financial statements referred to in Section 5.4   thereof or delivered pursuant to Section 7.6 thereof, as applicable, and such other documents and   information as it deems appropriate to make its own credit analysis and decision to enter into this   Assignment and Acceptance and to purchase [the][such] Assigned Interest, (vi) it has,   independently and without reliance upon the Administrative Agent, [the] [any] Assignor or any   other Lender and based on such documents and information as it has deemed appropriate, made   its own credit analysis and decision to enter into this Assignment and Acceptance and to   purchase [the][such] Assigned Interest, and (vii) attached to the Assignment and Acceptance is   any documentation required to be delivered by it pursuant to the terms of the Credit Agreement,   duly completed and executed by [the][such] Assignee; and (b) agrees that (i) it will,   independently and without reliance on the Administrative Agent, [the][any] Assignor or any   other Lender, and based on such documents and information as it shall deem appropriate at the     

 

   -2-   time, continue to make its own credit decisions in taking or not taking action under the Credit   Documents, and (ii) it will perform in accordance with their terms all of the obligations which by   the terms of the Credit Documents are required to be performed by it as a Lender.   SECTION 2. PAYMENTS.   From and after the Effective Date, the Administrative Agent shall make all payments in   respect of [the][each] Assigned Interest (including payments of principal, interest, fees and other   amounts) to [the][the relevant] Assignee whether such amounts have accrued prior to, on or   after the Effective Date.  The Assignor[s] and the Assignee[s] shall make all appropriate   adjustments in payments by the Administrative Agent for periods prior to the Effective Date or   with respect to the making of this assignment directly between themselves.  Notwithstanding the   foregoing, the Administrative Agent shall make all payments of interest, fees or other amounts   paid or payable in kind from and after the Effective Date to [the][the relevant] Assignee.   SECTION 3. GENERAL PROVISIONS.   This Assignment and Acceptance shall be binding upon, and inure to the benefit of, the   parties hereto and their respective successors and assigns.  This Assignment and Acceptance may   be executed in any number of counterparts, which together shall constitute one instrument.    Delivery of an executed counterpart of a signature page of this Assignment and Acceptance by   telecopy shall be effective as delivery of a manually executed counterpart of this Assignment and   Acceptance.  This Assignment and Acceptance shall be governed by, and construed in   accordance with, the law of the State of Illinois.        

 

        SCHEDULE 1   COMMITMENTS   NAME OF BANK   REVOLVING CREDIT   COMMITMENT   LETTER OF CREDIT   COMMITMENT   Bank of Montreal $287,500,000 $50,000,000   Bank of America, N.A. 287,500,000 50,000,000   Barclays Bank PLC 230,000,000    Wells Fargo Bank, N.A. 230,000,000    The Royal Bank of Scotland PLC 230,000,000    JPMorgan Chase Bank, National Association 230,000,000    Fifth Third Bank 175,000,000    PNC Bank, National Association 175,000,000    U.S. Bank National Association 155,000,000    HSBC Bank USA, National Association 130,000,000    Société Générale 65,000,000    Capital One, N.A. 65,000,000    ING Bank N.V. 65,000,000    The Bank of Tokyo-Mitsubishi UFJ, Ltd. 65,000,000    The Bank of New York Mellon 45,000,000    HSBC Bank PLC 45,000,000    Westpac Banking Corporation 45,000,000    Australia and New Zealand Banking Group   Limited   45,000,000    National Australia Bank Limited, A.B.N. 12   004 044 937   45,000,000    Deutsche Bank AG New York Branch 45,000,000    The Northern Trust Company 30,000,000    Associated Bank National Association 30,000,000    Comerica Bank 30,000,000    TOTAL $2,750,000,000.00 $100,000,000     

 

        SCHEDULE 5.2   GUARANTORS         NAME   JURISDICTION OF   INCORPORATION PERCENTAGE OWNERSHIP   Jones Lang LaSalle Incorporated Maryland N/A   Jones Lang LaSalle Americas, Inc. Maryland 100%   LaSalle Investment Management, Inc. Maryland 100%   Jones Lang LaSalle International, Inc. Delaware 100%   Jones Lang LaSalle Co-Investment, Inc. Maryland 100%   Jones Lang LaSalle Limited England 100%   Jones Lang LaSalle GmbH Germany 100%   Jones Lang LaSalle New England, LLC Delaware 100%   Jones Lang LaSalle Brokerage, Inc. Texas 100%ex10_10-1.htm

 Exhibit 10.10(1) 

 

 June 22, 2016 

 

 Mr. Scott Burell 

 12 Ponderosa 

 Irvine, CA 92604

 

 Re:  Amended and Restated Letter Agreement 

 

 Dear Mr. Burell:

  

 On behalf of AgEagle Aerial Systems, Inc., a Nevada corporation (the “Company”), I am pleased to invite you to join the Company’s Board of Directors (the “Board”).  If you accept, you will serve as a Director from the date that you sign this letter of appointment and subject to the confirmation and approval by the Board (the “Effective Date”) until the date upon which you are not re-elected or your earlier removal or resignation. 

 

 You shall have all responsibilities of a Director imposed by Nevada or applicable law, and the Certificate of Incorporation and Bylaws of the Company, as may be amended from time to time. These responsibilities shall include, but shall not be limited to, the following: 

 

	
    

	
 • 

	
 Telephonic meetings with the CEO, the Board and similar parties, and occasional in-person scheduled meetings of the Board; 

 

	
    

	
 • 

	
 Participation in the development and refinement of the Company’s strategic plan, business plan and long-term vision; 

 

	
    

	
 • 

	
 Assisting the Company in achieving stated milestones; and 

 

	
    

	
 • 

	
 Representing the stockholders and the interests of the Company as a fiduciary. 

 

 In consideration for your services and upon approval by our Board of Directors, you will receive the following compensation: 

 

	
    

	
 • 

	
 An initial grant of 16,700 five year stock options at a price per share equal to the price offered to the public in the Company’s IPO vesting in 6 months. 

 

	
    

	
 • 

	
 5,000 five year stock options per calendar quarter of service, with an exercise price at current market price of the Company’s common stock at the time of issuance. 

 

	
    

	
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 $2,000 per calendar quarter cash stipend. AgEagle will cover out-of-pocket expenses for Board members’ travel expenses to and from Board meetings as required. 

 

  

  

  

 

 You will receive indemnification as a Director of the Company to the maximum extent extended  to Directors of  the Company  generally, as set forth in the Company’s Certificate of Incorporation, Bylaws, and the Directors and Officers insurance coverage the Company maintains. 

 

 In accepting this offer, you are representing to us that (i) you do not know of any conflict that would restrict your service on the Board, (ii) there is nothing in your background that would disqualify you from serving on the Board, and (iii) you will not provide the Company with any documents, records, or other confidential information belonging to other parties.  Since we are a public company, if asked, you will complete a Director’s Questionnaire and agree to a background check. 

 

 I hope that this offer is satisfactory to you and look forward to you joining the Company’s Board of Directors. Please indicate your acceptance of this offer by signing below and returning one copy of this offer to me as soon as possible.  By signing below you acknowledge that you have read this agreement and fully understand the nature and effect of it and the terms contained herein and that the said terms are fair and reasonable and correctly set out your understanding and intention. 

 

 Scott, I very much look forward to having you on the Board of AgEagle, and working with you to achieve great things for this company. 

 

 

	    	
 Very truly yours, 

	    	    
	    	    
	    	
 /s/ Bret Chilcott 

	    	
 Bret Chilcott 

	    	
 Director & CEO 

 

 I accept the position on the Board of Directors of AgEagle Aerial Systems, Inc., under the terms and conditions set forth herein. 

	 	    	
 6/22/16 

	
 Scott Burell 

	    	
 Date

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