Document:

ex101new

                                                                   Exhibit 10.1                                                                                                                                                  Execution Version                                                                                                                                                                                                                                    CUSIP Numbers:                                                                    Deal:  22281GAD0                                                                 Revolver:  22281GAE8                                                                Term Loan:  22281GAF5      SECOND AMENDED AND RESTATED CREDIT AND GUARANTY AGREEMENT                             dated as of August 21, 2018                                       among                              COVANTA ENERGY, LLC,                        COVANTA HOLDING CORPORATION,                                   as a Guarantor,                CERTAIN SUBSIDIARIES OF COVANTA ENERGY, LLC,                                  as Guarantors,                                VARIOUS LENDERS,                              BANK OF AMERICA, N.A.,                as Administrative Agent, Collateral Agent and Issuing Bank,              CRÉDIT AGRICOLE CORPORATE AND INVESTMENT BANK,                          JPMORGAN CHASE BANK, N.A.,                              CITIZENS BANK, N.A.,                           MUFG UNION BANK, N.A., and                   SUMITOMO MITSUI BANKING CORPORATION,                              as Co-Syndication Agents,                                                                               and                                                                          TD BANK, N.A.,                      CAPITAL ONE, NATIONAL ASSOCIATION,                                COBANK, ACB, and                                 COMPASS BANK,                             as Co-Documentation Agents              ________________________________________________________                      $1,300,000,000 Senior Secured Credit Facilities              ________________________________________________________            MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED,                           JPMORGAN CHASE BANK, N.A.,              CRÉDIT AGRICOLE CORPORATE AND INVESTMENT BANK                                CITIZENS BANK, N.A.                            MUFG UNION BANK, N.A., and    105376510    

 

                                  SUMITOMO MITSUI BANKING CORPORATION,                                      as Joint Lead Arrangers and Bookrunners                                                                        2                                                                                                                                     064310-0608-14876-Active.16952699.9  064310-0608-14876-Active.16952699.15  #4830-5863-7664  

 

                               TABLE OF CONTENTS                                                                            Page   SECTION 1.  DEFINITIONS AND INTERPRETATION ......................................................... 2    1.1   Definitions ........................................................................................................................ 2   1.2   Accounting Terms .......................................................................................................... 63   1.3   Interpretation, etc ........................................................................................................... 64   1.4   Exchange Rates; Currency Equivalents ......................................................................... 64   1.5   Additional Alternative Currencies ................................................................................. 65   1.6   Change of Currency ....................................................................................................... 65   1.7   Letter of Credit Amounts ............................................................................................... 66   1.8   Rounding ........................................................................................................................ 66   1.9   Times of Day; Rates ....................................................................................................... 66   1.10  Effect of Amendment and Restatement ......................................................................... 67   1.11  Limited Condition Transactions ..................................................................................... 67   1.12  References to Agreements, Laws, etc. ........................................................................... 69   SECTION 2.  LOANS AND LETTERS OF CREDIT .............................................................. 69    2.1   Term Loans .................................................................................................................... 69   2.2   Revolving Loans ............................................................................................................ 70   2.3   Swing Line Loans........................................................................................................... 71   2.4   Issuance of Letters of Credit and Purchase of Participations Therein ........................... 74   2.5   Pro Rata Shares .............................................................................................................. 84   2.6   Use of Proceeds .............................................................................................................. 84   2.7   Evidence of Debt; Lenders’ Books and Records; Notes ................................................ 84   2.8   Interest on Loans ............................................................................................................ 86   2.9   Conversion/Continuation ............................................................................................... 87   2.10  Default Interest ............................................................................................................... 88   2.11  Fees; Premium ................................................................................................................ 88   2.12  Scheduled Payments ....................................................................................................... 89   2.13  Voluntary Prepayments/Commitment Reductions ......................................................... 91   2.14  Mandatory Prepayments ................................................................................................. 93   2.15  Application of Prepayments ........................................................................................... 95   2.16  General Provisions Regarding Payments ....................................................................... 96   2.17  Ratable Sharing .............................................................................................................. 98   2.18  Making or Maintaining Eurodollar Rate Loans ............................................................. 99   2.19  Increased Costs; Capital Requirements ........................................................................ 103   2.20  Taxes; Withholding, etc ............................................................................................... 105   2.21  Obligation to Mitigate .................................................................................................. 108   2.22  Defaulting Lenders ....................................................................................................... 109   2.23  Removal or Replacement of a Lender .......................................................................... 112   2.24  Incremental Facilities ................................................................................................... 113   2.25  Extension Option .......................................................................................................... 116    105376510   i  

 

   SECTION 3.  CONDITIONS PRECEDENT .......................................................................... 119    3.1   Conditions to Amendment and Restatement ................................................................ 119   3.2   Conditions to Each Credit Extension ........................................................................... 122   SECTION 4.  REPRESENTATIONS AND WARRANTIES ................................................. 123    4.1   Organization; Requisite Power and Authority; Qualification ...................................... 123   4.2   Subsidiaries; Capital Stock and Ownership ................................................................. 123   4.3   Due Authorization ........................................................................................................ 124   4.4   No Conflict ................................................................................................................... 124   4.5   Governmental Consents ............................................................................................... 124   4.6   Binding Obligation ....................................................................................................... 125   4.7   Historical Financial Statements .................................................................................... 125   4.8   No Material Adverse Change ....................................................................................... 125   4.9   Adverse Proceedings, etc ............................................................................................. 125   4.10  Payment of Taxes ......................................................................................................... 125   4.11  Properties ...................................................................................................................... 125   4.12  Environmental Matters ................................................................................................. 126   4.13  No Defaults .................................................................................................................. 126   4.14  Governmental Regulation ............................................................................................ 127   4.15  Margin Stock ................................................................................................................ 127   4.16  Employee Matters ........................................................................................................ 127   4.17  Employee Benefit Plans ............................................................................................... 127   4.18  Solvency ....................................................................................................................... 128   4.19  Disclosure ..................................................................................................................... 129   4.20  Patriot Act .................................................................................................................... 129   4.21  Unrestricted Subsidiaries .............................................................................................. 129   4.22  OFAC ........................................................................................................................... 129   4.23  Anti-Corruption Laws .................................................................................................. 129   4.24  EEA Financial Institution ............................................................................................. 129   SECTION 5.  AFFIRMATIVE COVENANTS ....................................................................... 129    5.1   Financial Statements and Other Reports ...................................................................... 129   5.2   Existence ...................................................................................................................... 133   5.3   Payment of Taxes and Claims ...................................................................................... 133   5.4   Maintenance of Properties and Assets ......................................................................... 133   5.5   Insurance ...................................................................................................................... 133   5.6   Inspections .................................................................................................................... 134   5.7   Compliance with Laws ................................................................................................. 134   5.8   Environmental .............................................................................................................. 134   5.9   Subsidiaries .................................................................................................................. 135   5.10  Additional Material Real Estate Assets ........................................................................ 137   5.11  Further Assurances ....................................................................................................... 138   5.12  [Reserved] .................................................................................................................... 138   5.13  Anti-Corruption Laws .................................................................................................. 138   ii  105376510                                                                                  

 

    5.14  Designation of Subsidiaries .......................................................................................... 138   SECTION 6.  NEGATIVE COVENANTS ............................................................................. 138    6.1   Indebtedness ................................................................................................................. 139   6.2   Liens ............................................................................................................................. 145   6.3   No Further Negative Pledges ....................................................................................... 149   6.4   Restricted Junior Payments .......................................................................................... 150   6.5   Restrictions on Subsidiary Distributions ...................................................................... 152   6.6   Investments ................................................................................................................... 153   6.7   Financial Covenants ..................................................................................................... 156   6.8   Fundamental Changes; Disposition of Assets; Acquisitions........................................ 156   6.9   Transactions with Shareholders and Affiliates ............................................................. 159   6.10  Conduct of Business ..................................................................................................... 159   6.11  Amendments or Waivers of Certain Agreements ........................................................ 160   6.12  Fiscal Year .................................................................................................................... 160   6.13  Hedge Agreements ....................................................................................................... 160   6.14  Sanctions ...................................................................................................................... 160   6.15  Anti-Corruption Laws .................................................................................................. 160   SECTION 7.  GUARANTY .................................................................................................... 160    7.1   Guaranty of the Obligations ......................................................................................... 160   7.2   Contribution by Guarantors .......................................................................................... 161   7.3   Payment by Guarantors ................................................................................................ 161   7.4   Liability of Guarantors Absolute .................................................................................. 162   7.5   Waivers by Guarantors ................................................................................................. 164   7.6   Guarantors’ Rights of Subrogation, Contribution, etc. ................................................ 164   7.7   Subordination of Other Obligations ............................................................................. 165   7.8   Continuing Guaranty .................................................................................................... 165   7.9   Authority of Guarantors or Company .......................................................................... 165   7.10  Financial Condition of Company ................................................................................. 165   7.11  Bankruptcy, etc. ............................................................................................................ 166   7.12  Discharge of Guaranty ................................................................................................. 167   7.13  Reaffirmation ............................................................................................................... 167   SECTION 8.  EVENTS OF DEFAULT .................................................................................. 167    8.1   Events of Default .......................................................................................................... 167   SECTION 9.  AGENTS ........................................................................................................... 170    9.1   Appointment of Agents ................................................................................................ 170   9.2   Exculpatory Provisions ................................................................................................ 171   9.3   Reliance by Agents....................................................................................................... 172   9.4   Non-Reliance on Administrative Agent and Other Lenders ........................................ 173   9.5   Resignation of Administrative Agent ........................................................................... 173   9.6   No Other Duties, Etc .................................................................................................... 175                                        iii  105376510                                                                                  

 

    9.7   Administrative Agent May File Proofs of Claim; Credit Bidding ............................... 175   9.8   Collateral and Guaranty Matters .................................................................................. 177   9.9   Permitted Cash Management Agreements, Permitted Hedge Agreements and Permitted         Letters of Credit .......................................................................................................... 178   9.10  Certain ERISA Matters. ............................................................................................... 178   SECTION 10.   MISCELLANEOUS ...................................................................................... 180    10.1  Notices .......................................................................................................................... 180   10.2  Expenses ....................................................................................................................... 182   10.3  Indemnity ..................................................................................................................... 183   10.4  Set-Off .......................................................................................................................... 184   10.5  Amendments and Waivers ........................................................................................... 185   10.6  Successors and Assigns; Participations ........................................................................ 188   10.7  Independence of Covenants ......................................................................................... 195   10.8  Survival ........................................................................................................................ 195   10.9  No Waiver; Remedies Cumulative ............................................................................... 195   10.10  Marshalling; Payments Set Aside ................................................................................ 196   10.11  Severability ................................................................................................................... 197   10.12  Obligations Several; Independent Nature of Lenders’ Rights ..................................... 197   10.13  No Advisory or Fiduciary Responsibility .................................................................... 197   10.14  Headings ....................................................................................................................... 198   10.15  APPLICABLE LAW.................................................................................................... 198   10.16  CONSENT TO JURISDICTION ................................................................................. 198   10.17  WAIVER OF JURY TRIAL ........................................................................................ 198   10.18  Confidentiality .............................................................................................................. 199   10.19  Usury Savings Clause ................................................................................................... 201   10.20  Counterparts ................................................................................................................. 201   10.21  Effectiveness ................................................................................................................ 201   10.22  Patriot Act .................................................................................................................... 201   10.23  Electronic Execution of Assignments .......................................................................... 202   10.24  Judgment Currency ...................................................................................................... 202   10.25  Cashless Settlement ...................................................................................................... 202   10.26  Acknowledgement and Consent to Bail-In of EEA Financial Institutions .................. 203   10.27  ENTIRE AGREEMENT .............................................................................................. 203   10.28  Mortgage Release ......................................................................................................... 203       iv  105376510                                                                                  

 

   APPENDICES:       A-1      Term Loan Commitments                   A-2      Revolving Commitments                   B         Letter of Credit Commitments                     C        Notice Addresses    SCHEDULES:                    1.1(a)    Available Amount                   1.1(b)   Excluded Subsidiaries                   1.1(c)    Existing Letters of Credit                   1.1(d)   Foreign Subsidiaries                   1.1(e)    Material Restricted Subsidiaries                   4.1      Jurisdictions of Organization                    4.2      Subsidiaries; Capital Stock and Ownership                    4.11(b)  Restatement Date Material Real Estate Assets                    4.21     Unrestricted Subsidiaries                   6.1       Certain Indebtedness                   6.1(w)(1)  Terms of Subordination – Affiliates                   6.1(w)(2)  Terms of Subordination – Non-Affiliates                   6.2       Certain Liens                   6.4(d)    Accrued Historic Restricted Payment Carryforward                    6.6(g)   Certain Investments                   6.6(n)    Certain Investments in China                    6.4(u)   Accrued Historic Investment Carryforward                    6.7(a)   Collateral Accounts with respect to Restricted Project Cash                    6.8      Certain Permitted Asset Sales                    6.9      Certain Affiliate Transactions    EXHIBITS:         A-1     Funding Notice                    A-2     Conversion/Continuation Notice                    A-3     Issuance Notice                   B-1      Term Loan Note                    B-2     Revolving Loan Note                   B-3      Swing Line Note                    C        Compliance Certificate                   E         Assignment Agreement                   F        U.S. Tax Compliance Certificates                    G       Solvency Certificate                    H       Counterpart Agreement                    J       Joinder Agreement                   L        Intercreditor Agreement Term Sheet        v  105376510                                                                                  

 

      SECOND AMENDED AND RESTATED CREDIT AND GUARANTY AGREEMENT          This SECOND  AMENDED  AND  RESTATED  CREDIT  AND  GUARANTY   AGREEMENT, dated as of August 21, 2018, by and among COVANTA ENERGY, LLC, a  Delaware limited liability company (“Company”), COVANTA HOLDING CORPORATION,  a  Delaware  corporation  (“Holding”), CERTAIN  SUBSIDIARIES  OF  COMPANY,  as  Guarantors, THE  LENDERS   PARTY  HERETO  FROM  TIME  TO  TIME,  BANK  OF  AMERICA,  N.A.,  as  Administrative  Agent  (“Bank  of  America”,  together  with its  permitted  successors in such capacity, “Administrative Agent”) and as Collateral Agent (together with its  permitted  successors  in  such  capacity,  the  “Collateral  Agent”)  and  Issuing  Bank, CRÉDIT  AGRICOLE  CORPORATE  AND  INVESTMENT  BANK,         JPMORGAN  CHASE  BANK,  N.A., CITIZENS  BANK,  N.A., MUFG  UNION  BANK,  N.A. and SUMITOMO  MITSUI  BANKING CORPORATION, as Co-Syndication Agents (in such capacities, “Co-Syndication  Agents”), and TD BANK, N.A., CAPITAL ONE, NATIONAL ASSOCIATION, COBANK,  ACB and COMPASS BANK,        as  Co-Documentation  Agents  (in  such  capacities,  “Co- Documentation Agents”).                                     RECITALS:         WHEREAS, capitalized terms used in these Recitals shall have the respective meanings  set forth for such terms in Section 1.1 hereof;          WHEREAS,  the  Company,  Holding,  the  Guarantors  party  thereto,  the  Lenders  party   thereto from time to time, the Administrative Agent, Collateral Agent and Issuing Bank and the   other agents party thereto, are parties to that certain Amended and Restated Credit and Guaranty   Agreement,  dated  as  of  April  10,  2015  (the  “First Amended  and  Restated  Credit   Agreement”), which amended and restated that certain Original Credit Agreement pursuant to  which certain loans and other extensions of credit were made to the Company;         WHEREAS,  Company  has  agreed  to  secure  all  of  its  Obligations  by  granting  to  Collateral Agent, for the benefit of Secured Parties, a First Priority Lien on substantially all of its  assets  to  the  extent  permitted  by  existing  Contractual  Obligations  and  regulatory  limitations  binding on Company or any of its Subsidiaries; provided that Company shall not be required to   pledge  (i) the  Capital  Stock  of  any  Unrestricted  Subsidiary,  (ii) more  than 65%  of  the  Capital   Stock of any Foreign Subsidiary or CFC Holding Company or (iii) any other Excluded Asset;          WHEREAS,  Guarantors,  have  agreed  to  guarantee  the  obligations  of  Company   hereunder  and  to  the  extent  permitted  by  existing  Contractual  Obligations  and  regulatory   limitations, binding on Holding, Company or any of its Subsidiaries, to secure their respective   Obligations by granting to Collateral Agent, for the benefit of Secured Parties, a First Priority   Lien  on  substantially  all  of  their  respective  assets;  provided that  (A)  no  Guarantor Subsidiary   shall  be  required  to  pledge  (i) the  Capital  Stock  of  any  Unrestricted  Subsidiary,  (ii) more   than 65% of the Capital Stock of any Foreign Subsidiary or CFC Holding Company or (iii) any   other  Excluded  Asset  and  (B)  Holding  shall  only  be  required  to pledge  the  Capital  Stock  of   Company;     105376510      

 

           WHEREAS, subject to Section 2.23, all of the Lenders party hereto (which include the   Requisite  Lenders  (as  defined  in  the  First  Amended  and  Restated  Credit  Agreement)  and  all   Lenders  party  thereto  other  than  Lenders  that  are  having  their  commitments  thereunder   terminated and loans thereunder repaid on the Amendment and Restatement Effective Date) have   agreed to amend and restate the First Amended and Restated Credit Agreement on and subject to   the terms and conditions set forth herein; and          WHEREAS, the parties hereto intend that, except with respect to Original Obligations   that are repaid with the advance of the Term Loans and Revolving Loans on the Amendment and   Restatement Effective Date as contemplated hereby, (a) the Original Obligations shall continue   to  exist  under  this  Agreement  on  the  terms  set  forth  herein,  (b)  the  Loans  under  the  First   Amended  and  Restated  Credit  Agreement  outstanding  as  of  the  Amendment  and  Restatement   Effective  Date  shall  be  Loans  under  and  as  defined  in  this  Agreement  on  the  terms  set  forth   herein,  (c)  any  Revolving  Commitments  and  Letters  of  Credit  outstanding  under  the  First   Amended and Restated Credit Agreement as of the Amendment and Restatement Effective Date   shall be Letters of Credit and Revolving Commitments, as applicable, under and as defined in   this Agreement on the terms set forth herein and (d) the Collateral and the Credit Documents   shall  continue  to  secure,  guarantee,  support  and  otherwise  benefit  the  Original  Obligations  as   well as the other Obligations of the Company and the other Credit Parties under this Agreement   and the other Credit Documents;          NOW, THEREFORE, in consideration of the premises and the agreements, provisions   and covenants herein contained, the parties hereto agree to amend and restate the First Amended   and Restated Credit Agreement as follows:    SECTION 1.  DEFINITIONS AND INTERPRETATION          1.1   Definitions.  The following terms used herein, including in the preamble, recitals,   exhibits and schedules hereto, shall have the following meanings:           “2022 Senior  Notes” means  Holding’s  Senior  Notes  due 2022  identified  on  Schedule   6.1, any exchange notes issued in exchange therefor, in each case pursuant to their respective   Indentures, also identified on Schedule 6.1.          “2022 Senior Notes Documents” means the 2022 Senior Notes, the Indentures identified  on Schedule 6.1 and all other documents executed and delivered with respect to the 2022 Senior   Notes or the Indentures identified on Schedule 6.1.          “2024 Senior Notes” means Holding’s Senior Notes due 2024 identified on Schedule 6.1,   any  exchange  notes  issued  in  exchange  therefor,  in  each  case  pursuant  to  their  respective   Indentures, also identified on Schedule 6.1.          “2024 Senior Notes Documents” means the 2024 Senior Notes, the Indentures identified  on Schedule 6.1 and all other documents executed and delivered with respect to the 2024 Senior   Notes or the Indentures identified on Schedule 6.1.                                          -2-                                             105376510     

 

           “2025 Senior Notes” means Holding’s Senior Notes due 2025 identified on Schedule 6.1,   any  exchange  notes  issued  in  exchange  therefor,  in  each  case  pursuant  to  their  respective   Indentures, also identified on Schedule 6.1.          “2025 Senior Notes Documents” means the 2025 Senior Notes, the Indentures identified  on Schedule 6.1 and all other documents executed and delivered with respect to the 2025 Senior   Notes or the Indentures identified on Schedule 6.1.          “Account” has the meaning assigned to such term in the UCC.          “Acquired  EBITDA” means, with respect to any Acquired Entity or Business for any   period, the amount for such period of Consolidated Adjusted EBITDA of such Acquired Entity   or  Business  (determined  as  if  references  to  Company  and  the  Restricted  Subsidiaries  in  the   definition  of  Consolidated  Adjusted  EBITDA  were  references  to  such  Acquired  Entity  or   Business and its Subsidiaries), all as determined on a consolidated basis for such Acquired Entity   or Business.          “Acquired Entity or Business” has the meaning set forth in the definition of the term   “Consolidated Adjusted EBITDA”.          “Act” as defined in Section 4.20.          “Additional Revolving Commitment” as defined in Section 2.24(a).          “Additional Revolving Lender” as defined in Section 2.24(a).          “Additional Revolving Loan” as defined in Section 2.24(c).          “Additional Term Loan” as defined in Section 2.24(b).          “Additional Term Loan Commitment” as defined in Section 2.24(a).          “Additional Term Loan Exposure” means, with respect to any Lender as of any date of  determination, the outstanding principal amount of the Additional Term Loans of such Lender  for a Series.         “Additional Term Loan Lender” as defined in Section 2.24(a).          “Additional Term Loan Maturity Date” means the date that Additional Term Loans of   a Series shall become due and payable in full hereunder, as specified in the applicable Joinder   Agreement, including by acceleration or otherwise.          “Administrative Agent” as defined in the preamble hereto.          “Adverse  Proceeding”  means  any  action,  suit,  proceeding  (whether  administrative,   judicial or otherwise), governmental investigation or arbitration at law or in equity, or before or   by  any  Governmental  Authority,  domestic  or  foreign  (including  any  Environmental  Claims),  whether  pending  or,  to  the  knowledge  of  an  Authorized  Officer  of  Company  or  any  of  its                                        -3-                                             105376510     

 

   Subsidiaries, threatened against or affecting Company or any of its Subsidiaries or any property  of Company or any of its Subsidiaries.         “Affected Lender” as defined in Section 2.18(b).         “Affected Loans” as defined in Section 2.18(b).         “Affiliate”  means,  as  applied  to  any  Person,  any  other  Person  directly  or  indirectly  controlling, controlled by, or under common control with, that Person.  For the purposes of this  definition, “control” (including, with correlative meanings, the terms “controlling”, “controlled  by” and “under common control with”), as applied to any Person, means the possession, directly  or indirectly, of the power to direct or cause the direction of the management and policies of that  Person, whether through the ownership of voting securities or by contract or otherwise.         “Agent” means each of Administrative Agent, Collateral Agent, Co-Syndication Agents  and Co-Documentation Agents.         “Aggregatable Restricted Subsidiaries” means two (2) or more Restricted Subsidiaries  (i) which  for  the  most  recent  Fiscal  Year  individually  accounted  for  less  than 5.00%,  but  collectively  accounted  for  more than 15.00%,  of  the  Consolidated  Adjusted  EBITDA  of  Company and its Restricted Subsidiaries, or (ii) which as at the end of  the most recent Fiscal  Year,  individually  owned  less than 5.00%,  but  collectively  owned  more  than 15.00%,  of  the  Total Tangible Assets of Company and its Restricted Subsidiaries.         “Aggregate Amounts Due” as defined in Section 2.17.         “Aggregate Payments” as defined in Section 7.2.         “Agreement”  means  this  Second  Amended  and  Restated  Credit  and  Guaranty  Agreement,  dated  as  of  August  21,  2018,  as  it  may  be  amended,  restated,  supplemented  or  otherwise modified from time to time.         “Alternative Currency” means Euros, Pounds Sterling, Canadian Dollars and each other  currency (other than Dollars) that is approved in accordance with Section 1.5.         “Alternative  Currency  Equivalent”  means,  at  any  time,  with  respect  to  any  amount  denominated in Dollars, the equivalent amount thereof in the applicable Alternative Currency as  determined by Administrative Agent or the applicable Issuing Bank, as the case may be, at such  time on the basis of the Spot Rate (determined in respect of the most recent Revaluation Date)  for the purchase of such Alternative Currency with Dollars.         “Alternative Currency Letter of Credit Outstandings” means the Dollar Equivalent of  the stated amount of all outstanding Letter of Credit in respect of Letters of Credit denominated  in an Alternative Currency.         “Alternative Currency Loan” means a Loan denominated in an Alternative Currency.         “Amended Mortgage” as defined in Section 3.1(m).                                       -4-                                           105376510    

 

         “Amendment and Restatement Effective Date” means August 21, 2018.         “Anti-Money Laundering Laws” means the Act, the Money Laundering Control Act of  1986,  the  Bank  Secrecy  Act,  and  the  rules  and  regulations  promulgated  thereunder,  and  corresponding  laws  of  the  jurisdictions  in  which  the  Company  or  any  of  its  Restricted  Subsidiaries operates.         “Applicable  Margin”  means  a  percentage  per  annum,  determined  by  reference  to  the  Leverage Ratio in effect from time to time as set forth in the Pricing Grid.         “Applicable  Time”  means,  with  respect  to  any  borrowings  and  payments  in  any  Alternative Currency, the local time in the place of settlement for such Alternative Currency as  may be reasonably determined by Administrative Agent or the applicable Issuing Bank, as the  case  may  be,  to  be  necessary  for  timely  settlement  on  the  relevant  date  in  accordance  with  normal banking procedures in the place of payment.         “Asset Sale” means a sale, lease or sub-lease (as lessor or sublessor), sale and leaseback,  assignment, conveyance, transfer or other disposition to, or any exchange of property with, any  Person  (other  than  Company  or  any  Guarantor  Subsidiary),  in  one transaction or a series of  transactions, of all or any part of Company’s or any of its Restricted Subsidiaries’ businesses,  assets  or  properties  of  any  kind,  whether  real,  personal,  or  mixed  and  whether  tangible  or  intangible  (other  than  Cash),  whether  now  owned  or  hereafter  acquired,  including,  without  limitation,  the  Capital  Stock  of any  of  Company’s  Restricted  Subsidiaries,  other  than  (i) inventory (or other assets) sold or leased in the ordinary course of business, (excluding any  such sales by operations or divisions discontinued), and (ii) Excluded Asset Sales.         “Assignment  Agreement”  means  an  Assignment  and  Assumption  Agreement  substantially  in  the  form  of  Exhibit E  or  any  other  form  (including  electronic  documentation  generated by use of an electronic platform) approved by Administrative Agent and Company.         “Assignment Effective Date” as defined in Section 10.6(d)(i).         “Authorized  Officer”  means,  as  applied  to  any  Person,  any  individual  holding  the  position  of  chief  executive  officer,  general  counsel,  chief  financial  officer,  chief  accounting  officer or treasurer or any other officer or employee of the applicable Person designated in or  pursuant to an agreement between such Person and the Administrative Agent.         “Available Amount” means, at any time, an amount determined on a cumulative basis  equal to the sum of, without duplication:                (a)  an aggregate amount equal to $50,000,000, plus               (b)   an amount (not less than zero) equal to:                     (i)   the Excess Cash Flow Amount at such time, plus                                         -5-                                           105376510    

 

                     (ii)  to the extent not already included or reflected in the Excess Cash       Flow  Amount,  the  cumulative  amount  of  cash  and  Cash  Equivalent proceeds  from       Holding Capital Contribution, plus                    (iii)  to the extent not already included or reflected in the Excess Cash       Flow  Amount,  in  the  event  any  Unrestricted  Subsidiary  has  been re-designated  as  a       Restricted Subsidiary or has been merged, consolidated or amalgamated with or into, or       transfers  or  conveys  its  assets  to,  or  is  liquidated  into,  Company  or  a  Restricted       Subsidiary of Company, the fair market value (as determined by an Authorized Officer of       Company) of the Investments consisting of cash and Cash Equivalents of Company and       its  Restricted  Subsidiaries  in  such  Unrestricted  Subsidiary  at  the  time  of  such  re-      designation (but not in excess of the original principal amount of the Investment in such       Unrestricted  Subsidiary  immediately  prior  to  such  re-designation),  combination  or       transfer (or of the assets transferred or conveyed, as applicable), in each case to the extent       such  Investments  correspond  to  the  designation  of  a  Subsidiary  as  an  Unrestricted       Subsidiary  pursuant  to  Section 5.14  and  were  originally  made  using  the  Available        Amount pursuant to Section 6.6(u), plus                     (iv)  any Declined Proceeds, plus                     (v)   an amount equal to the net reduction in Investments made pursuant        to Section 6.6(u) (not in excess of the original amount of such Investments) in respect of        any  returns  in  cash  and  Cash  Equivalents  (including  dividends, interest,  distributions,        returns  of  principal,  profits  on  sale,  repayments,  income  and  similar  amounts)  actually        received by Holding and its Restricted Subsidiaries from such Investments, minus                     (vi)  any  amount  of  the  Available  Amount  used  to  make  Investments        pursuant to Section 6.6(u) after the Closing Date and prior to the date of determination,        minus                     (vii)  any  amount  of  the  Available  Amount  used  to  make  Permitted        Acquisitions  pursuant  to  Section 6.8(g)  after  the  Closing  Date and  prior  to  the  date  of        determination, minus                     (viii)  any  amount  of  the  Available  Amount  used  to  make  Restricted        Junior Payments pursuant to Sections 6.4(d) after the Closing Date and prior to the date        of determination.   For  reference  purposes,  a  calculation  of  the  Available  Amount  as  of  the  Amendment  and  Restatement Effective Date is set forth on Schedule 1.1(a).         “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                                        -6-                                           105376510    

 

     European Union, the implementing law for such EEA Member Country from time to time which   is described in the EU Bail-In Legislation Schedule.          “Bank of America” as defined in the preamble hereto.          “Bankruptcy Code” means Title 11 of the United States Code entitled “Bankruptcy,” as  now and hereafter in effect, or any successor statute.         “Base  Rate” means, for any day, a fluctuating rate per annum equal to the greatest of  (i) the rate of interest in effect for such day as publicly announced from time to time by Bank of  America as its “prime rate,” (ii) the Federal Funds Effective Rate in effect on such day plus 1⁄2  of 1.00% and (iii) the Eurodollar Rate plus 1.00%; and if the Base Rate shall be less than zero,  such rate shall be deemed zero for purposes of this Agreement.  The “prime rate” is a rate set by  Bank  of  America  based  upon  various  factors  including  Bank  of  America’s  costs  and  desired  return, general economic conditions and other factors, and is used as a reference point for pricing  some loans, which may be priced at, above, or below such announced rate.  Any change in such  prime rate announced by Bank of America shall take effect at the opening of business on the day  specified in the public announcement of such change.         “Base Rate Loan” means a Loan bearing interest at a rate determined by reference to the  Base Rate.         “Beneficiary” means each Agent, Issuing Bank, Lender and Lender Counterparty.          “Beneficial  Ownership  Certification”  means  a  certification  regarding  beneficial  ownership  required  by  the  Beneficial  Ownership  Regulation,  which  certification  shall  be  substantially  similar  in  form  and  substance  to  the  form  of  Certification  Regarding  Beneficial  Owners of Legal Entity Customers published jointly, in May 2018, by the Loan Syndications and   Trading Association and Securities Industry and Financial Markets Association.          “Beneficial Ownership Regulation” means 31 C.F.R. § 1010.230.          “Benefit Plan” means any of (a) an “employee benefit plan” (as defined in ERISA) that   is subject to Title I of ERISA, (b) a “plan” as defined in Section 4975 of the Code or (c) any   Person whose assets include (for purposes of ERISA Section 3(42) or otherwise for purposes of   Title I of ERISA or Section 4975 of the Code) the assets of any such “employee benefit plan” or   “plan”.          “Business  Day”  means  any  day  other  than  a  Saturday,  Sunday  or  other  day  on  which   commercial banks are authorized to close under the applicable laws of, or are in fact closed in,   the  state  where  the  Administrative  Agent’s  Principal  Office  with  respect  to  Obligations   denominated in Dollars is located and:          (a)  if  such  day  relates  to  any  interest  rate  settings  as  to  a  Eurodollar  Rate  Loan   denominated  in  Dollars,  any  fundings,  disbursements,  settlements  and  payments  in  Dollars  in   respect  of  any  such  Eurodollar  Rate  Loan,  or  any  other  dealings  in  Dollars  to  be  carried  out                                         -7-                                             105376510     

 

     pursuant to this Agreement in respect of any such Eurodollar Rate Loan, means any such day   that is also a London Banking Day;          (b)  if  such  day  relates  to  any  interest  rate  settings  as  to  a  Eurodollar  Rate  Loan   denominated in Euro, any fundings, disbursements, settlements and payments in Euro in respect   of any such Eurodollar Rate Loan, or any other dealings in Euro to be carried out pursuant to this   Agreement in respect of any such Eurodollar Rate Loan, means a TARGET Day;          (c)  if  such  day  relates  to  any  interest  rate  settings  as  to  a  Eurodollar  Rate  Loan   denominated in a currency other than Dollars or Euro, means any such day on which dealings in   deposits in the relevant currency are conducted by and between banks in the London or other   applicable offshore interbank market for such currency; and          (d)   if such day relates to any fundings, disbursements, settlements and payments in a   currency  other  than  Dollars  or  Euro  in  respect  of  a  Eurodollar Rate  Loan  denominated  in  a   currency other than Dollars or Euro, or any other dealings in any currency other than Dollars or   Euro to be carried out pursuant to this Agreement in respect of any such Eurodollar Rate Loan   (other than any interest rate settings), means any such day on which banks are open for foreign   exchange business in the principal financial center of the country of such currency.         “Canadian  Dollar  Denominated  Loans” means each Revolving Loan denominated in  Canadian Dollars at the time of incurrence thereof.         “Canadian  Dollars”  and  the  “C$”  means  freely  transferable  lawful  money  of  Canada  (expressed in Canadian dollars).         “Capital  Lease”  means,  as  applied  to  any  Person,  any  lease  of  any  property  (whether  real, personal or mixed) by that Person as lessee that, in conformity with GAAP, is or should be  accounted for as a capital lease on the balance sheet of that Person.         “Capital Stock” means any and all shares, interests, participations or other equivalents  (however designated) of capital stock of a corporation, any and all equivalent ownership interests  in  a  Person  (other  than  a  corporation),  including,  without  limitation,  partnership  interests  and  membership  interests,  and  any  and  all  warrants,  rights  or  options  to  purchase  or  other  arrangements or rights to acquire any of the foregoing from the issuer thereof.         “Cash” means money, currency or a credit balance in any demand or Deposit Account.         “Cash Collateralize” means, in respect of an Obligation, to provide and pledge (as a first  priority perfected security interest) cash or deposit account balances in Dollars, at a location and  pursuant  to  documentation  in  form  and  substance  satisfactory  to  Administrative  Agent  and  Issuing Banks (and “Cash Collateralization” has a corresponding meaning).  “Cash Collateral”  shall  have a  meaning  correlative to  the  foregoing  and  shall  include  the  proceeds  of  such  cash  collateral and other credit support.         “Cash Equivalents” means, as at any date of determination, (i) Dollars, Euros, Pounds  Sterling  and  Canadian  Dollars;  (ii) marketable  securities  (a) issued  or  directly  and                                         -8-                                             105376510     

 

     unconditionally  guaranteed  as  to  interest  and  principal  by  the United  States  Government  or   (b) issued by any agency of the United States the obligations of which are backed by the full   faith  and  credit  of  the  United  States,  in  each  case  maturing  within  one  year  after  such  date;   (iii) marketable  direct  obligations  issued  by  any  state  of  the United  States  of  America  or  any   political  subdivision  of  any  such  state  or  any  public  instrumentality  thereof,  in  each  case   maturing  within  one  year  after  such  date  and  having,  at  the  time  of  the  acquisition  thereof,  a   rating of at least A-1 from S&P or at least P-1 from Moody’s; (iv) commercial paper maturing no   more than one year from the date of creation thereof and having, at the time of the acquisition   thereof, a rating of at least A-1 from S&P or at least P-1 from  Moody’s;  (v) certificates  of   deposit or bankers’ acceptances maturing within one year after such date and issued or accepted   by  any  Lender  or  by  any  commercial  bank  organized  under  the  laws  of  the  United  States  of   America  or  any  state  thereof  or  the  District  of  Columbia  that  (a) is  at  least  “adequately   capitalized” (as defined in the regulations of its primary Federal banking regulator) and (b) has   Tier 1 capital (as defined in such regulations) of not less than $100,000,000; (vi) shares of any   money  market  mutual  fund  that  (a) has  at  least 95%  of  its  assets  invested  continuously  in  the   types of investments referred to in clauses (i), (ii) and (iii) above, and (b) has net assets of not   less than $500,000,000; (vii) any repurchase agreement having a term of thirty (30) days or less   entered into with any commercial banking institution satisfying the criteria set forth in clause (v)   which is secured by a fully perfected security interest in any obligation of the type described in   clause (i)  above,  (viii) securities  and  investments  held  by  Foreign  Subsidiaries  pursuant  to  the   requirements  of  Project  documents  to  which  they  are  a  party,  (ix) other  investment-grade   instruments and securities held by Foreign Subsidiaries, (x) auction rate securities or auction rate   preferred stock having a rate reset frequency of less than ninety (90) days and having, at the time   of the acquisition thereof, a rating of at least A from S&P or from Moody’s and (xi) in the case   of Foreign Subsidiaries, Investments made in the jurisdiction where such Foreign Subsidiaries   customarily  make  similar  Investments  that  are  of  a  type  and  credit  quality  comparable  to  the   Investments described in the foregoing clauses of this definition.          “Cash  Management  Agreement”  means  any  agreement  providing  for  treasury,  depositary, purchasing card, e-payables or cash  management services, including in connection  with any automated clearing house transfers of funds or any similar transactions entered into by   Company or its Subsidiaries.          “CFC” means a “controlled foreign corporation” within the meaning of Section 957 of   the Internal Revenue Code.          “CFC Holding Company” means (i) any direct or indirect Domestic Subsidiary that has   no material assets other than the Capital Stock of one or more CFCs and (ii) any direct or indirect   Domestic Subsidiary that has no material assets other than the Capital Stock or Indebtedness of   one or more other Domestic Subsidiaries of the type referred to in the immediately preceding   clause (i).          “Change in Law” means the effectiveness, after the date of this Agreement, of any of the   following:  (a) 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) any request, rule, guideline or directive (whether or not having   the force of law) by any Governmental Authority; provided that notwithstanding anything herein                                        -9-                                             105376510     

 

   to  the  contrary,  (x) the Dodd-Frank  Wall  Street  Reform  and  Consumer  Protection Act  and  all  requests, rules, 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  the  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) any Person other than Holding shall acquire  direct ownership, beneficially or of record, of any voting stock of Company or (ii) any person,  entity  or  “group”  (within  the  meaning  of  Section 13(d)  or 14(d)  of  the  Exchange  Act,  but  excluding any employee benefit plan of Holding and its Subsidiaries and any person or entity  acting in its capacity as trustee, agent or other fiduciary or administrator of any such plan) shall  at  any time  have  acquired  direct  or  indirect  beneficial  ownership  (as  defined  in  Rules 13(d)-3  and 13(d)-5  under  the  Exchange  Act)  of 50%  of  the  outstanding  voting  stock  of  Holding,  or  (iii) the  majority  of  the  seats  (other  than  vacant  seats)  on  the  board  of  directors  (or  similar  governing body) of Holding cease to be occupied by Persons who either (A) were members of  the board of directors of Holding on the Amendment and Restatement Effective Date or (B) were  nominated for election by the board of directors of Holding, a majority (other than vacant seats)  of whom were directors on the Amendment and Restatement Effective Date or whose election or  nomination for election was previously approved by a majority of such directors.         “Class” means, in each case, under this Agreement as originally in effect or as amended  in accordance with the terms hereof pursuant to Section 10.5, (i) with respect to Lenders, each of  the following classes of Lenders:  (a) Lenders having Term Loan Exposure, (b) Lenders having  Additional  Term  Loan  Exposure  of  each  Series  and  (c) Lenders  having  Revolving  Exposure  (including  Swing  Line  Lender);  (ii) with  respect  to  Loans,  each  of  the  following  classes  of  Loans:   (a) Term  Loans,  (b) each  Series  of  Additional  Term  Loans  and  (c) Revolving  Loans  (including  Swing  Line  Loans  and  Additional  Revolving  Loans);  and  (iii) with  respect  to  Commitments, each of the following classes of Commitments:  (a) Term Loan Commitments and  (b) Revolving Commitments.         “Closing Date” means March 28, 2012.         “Co-Documentation Agent” as defined in the preamble hereto.          “Co-Syndication Agent” as defined in the preamble hereto.         “Collateral” means, collectively, all of the real, personal and mixed property (including  Capital Stock) in which Liens are purported to be granted pursuant to the Collateral Documents  as security for the Obligations.         “Collateral Agent” as defined in the preamble hereto.         “Collateral Documents” means the Pledge and Security Agreement, the Holding Pledge  Agreement, Mortgages and all other instruments, documents and agreements delivered by any  Credit Party pursuant to this Agreement or any of the other Credit Documents in order to grant to                                        -10-                                           105376510    

 

     Collateral  Agent,  for  the  benefit  of  Secured  Parties,  a  Lien  on  any  real,  personal  or  mixed   property of that Credit Party as security for the Obligations.          “Commitment” means any Revolving Commitment or Term Loan Commitment.         “Commitment  Fee  Rate”  means  a  percentage  per  annum,  determined  by  reference  to   Leverage Ratio in effect from time to time as set forth in the Pricing Grid.          “Commodities Agreement” means any agreement (including each confirmation entered   into  pursuant  to  any  master  agreement)  providing  for  swaps,  caps,  collars,  puts,  calls,  floors,   futures (including, without limitation, exchange traded futures), options, spots, forwards, power   purchase, tolling or sale agreements, fuel purchase or sale agreements, emissions credit purchase   or sales agreements, power transmission agreements, fuel transportation agreements, fuel storage   agreements, netting agreements, or commercial or trading agreements, each with respect to, or   involving  the  purchase,  transmission,  distribution,  sale,  lease  or  hedge  of,  any  commodities,   including but not limited to any energy, generation capacity or fuel, plastics, metals or any other   energy  related  commodity,  service  or  risk,  price  or  price  indices  for  any  such  commodities,   services  or  risks  or  any  other  similar  derivative  agreements,  any  renewable  energy  credits,   carbon emission credits and any other “cap and trade” related credits, assets or attributes with an   economic value and any other similar agreements, to which Company or any of its Subsidiaries   is a party.          “Commodities Obligations” means, with respect to any specified Person, the obligations   of such person under a Commodities Agreement.          “Commodity  Exchange  Act”  means  the  Commodity  Exchange  Act  (7  U.S.C.  §  1 et   seq.), as amended from time to time, and any successor statute.          “Company” as defined in the preamble hereto.          “Company Materials” as defined in Section 5.1(k).          “Compliance Certificate” means a Compliance Certificate substantially in the form of   Exhibit C, with such amendments or modifications as may be approved by Administrative Agent   and Company.          “Connection  Income  Taxes”  means  Other  Connection  Taxes  that  are  imposed  on  or  measured by net income (however denominated) or that are franchise Taxes or branch profits  Taxes.         “Consolidated  Adjusted  Net  Debt”  means,  as  at  any  date  of  determination,  the  aggregate stated balance sheet amount of (x) all Indebtedness of the type identified in clauses (i)  through  (iv) of  the  definition  of  Indebtedness  of  Company  and  its  Restricted  Subsidiaries  (excluding  premiums  and  discounts)  and  (y) Guaranty  Indebtedness,  determined  on  a  consolidated basis in accordance with GAAP minus (i) Restricted Project Cash, (ii) all Permitted   Subordinated  Indebtedness  owing to  Holding,  and  (iii) in  the  event  of  changes  to  GAAP   accounting for Capital Leases result in operating leases being reclassified as Capital Leases, then                                         -11-                                             105376510     

 

     the aggregate amount of Indebtedness resulting from such reclassification.  For the avoidance of   doubt, Performance Guaranties and undrawn Letters of Credit shall not constitute Consolidated   Adjusted Net Debt          “Consolidated  Adjusted  EBITDA”  means,  for  any  period,  an  amount  determined  for   Company and its Restricted Subsidiaries on a consolidated basis in accordance with GAAP equal   to:                (a)   the  sum,  without  duplication,  of  the  amounts  for  such  period  of   (i) Consolidated  Net  Income,  (ii) Consolidated  Interest  Expense,  (iii) provisions  for  Taxes,   (iv) total depreciation expense, (v) total amortization expense, (vi) decreases in unbilled service   receivables, (vii) minority interests, (viii) non-Cash compensation expense from the issuance of   restricted stock and stock options, (ix) Transaction Costs and all legal, accounting and other fees   and  expenses  incurred,  or  amortization  thereof,  in  connection  with  the  Transactions  or  any   Permitted  Acquisition,  Investment,  any  debt  issuance,  any  casualty  event,  Asset  Sale,   recapitalization, restructuring or other disposition, or any amendments or waivers of the Credit   Documents,  documentation  governing  other  securities,  credit  facilities  or  debt  instruments   (including,  in  each  case  listed  above,  any  amendments  or  other modifications  thereto)  and   Permitted Refinancings in connection therewith (in each case, whether or not consummated) to   the extent deducted in determining Consolidated Net Income for such period, (x) write-offs of   deferred  financing  expenses  in  connection  with  repayment  of  any  Indebtedness  and  any   amortization thereof, (xi) extraordinary losses and unusual or non-recurring charges, severance,   relocation  costs  and  curtailments  or  modifications  to  pensions and  post-retirement  employee   benefit  plans,  (xii) amortization  of  deferred  financing  costs, (xiii) restructuring  charges  or   reserves  (including  restructuring  costs  related  to  acquisitions  after  the  Closing  Date  and  to   closure/consolidation of facilities), (xiv) the amount of net cost savings projected by Company in   good  faith  to  be  realized  as  a  result  of  specified  actions  determined  during  such  period  to  be   taken (calculated on a pro forma basis as though such cost savings had been realized on the first   day of such period), net of the amount of actual benefits realized during such period from such   actions, provided that (A) such cost savings are reasonably identifiable and factually supportable,   (B) such actions are taken within 18 months after the date of determination, (C) no cost savings  shall be added pursuant to this clause (xiv) to the extent duplicative of any expenses or charges  relating to such cost savings that are included in clause (xiii) above with respect to such period   and  (D) a  certificate  executed by  an  Authorized  Officer  of  Company  shall  be  delivered  to   Administrative  Agent  stating  that  such  cost  savings  are  based  on  reasonable  estimates,   information and assumptions and that such Authorized Officer has no reason to believe that the   projected cost savings will not be achieved, (xv) (A) the Acquired EBITDA of any Person that is   designated as a Restricted Subsidiary, property, business or asset acquired by Company or any   Restricted Subsidiary during such period (but not the Acquired EBITDA of any related Person,   property, business or assets to the extent not so acquired), to the extent not subsequently sold,   transferred or otherwise disposed during such period by Company or such Restricted Subsidiary   (each such Person, property, business or asset acquired and not subsequently so disposed of, an   “Acquired  Entity  or  Business”),  based  on  the  actual  Acquired  EBITDA  of  such  Acquired   Entity  or  Business  for  such  period  (including  the  portion  thereof  occurring  prior  to  such   acquisition) and (B) for the purposes of the definition of the term “Permitted Acquisition” and   Section 6.7, an adjustment in respect of each Acquired Entity or Business equal to the amount of                                         -12-                                             105376510     

 

     the  Pro  Forma  Adjustment  with  respect  to  such  Acquired  Entity  or  Business  for  such  period   (including  the  portion  thereof  occurring  prior  to  such  acquisition)  as  specified  in  a  certificate   executed  by  an  Authorized  Officer  of  Company  and  delivered  to  Administrative  Agent,   (xvi) other  non-Cash  items  reducing  Consolidated  Net  Income  (excluding  any  such  non-Cash   item  to  the  extent  that  it  represents  an  accrual  or  reserve  for  potential  Cash  items  to  be  paid   within the next twelve months or amortization of a prepaid Cash item that was paid in a prior   period), and (xvii) maintenance expense incurred at client-owned facilities that would have been   capitalized under the Company’s fixed asset policy but for the application of FASB ASC 853 –   Service Concession Arrangements that are capitalized during such period; minus                (b)   non-Cash items (excluding any non-Cash item to the extent it represents   the reversal of an accrual or reserve for a potential Cash item that reduced Consolidated Adjusted   EBITDA in any prior period) plus increases in unbilled service receivables;    provided that to the extent included in Consolidated Net Income,                      (i)   there  shall  be  excluded  in  determining  Consolidated  Adjusted        EBITDA  non-Cash  currency  translation  gains  and  losses  related  to  currency        remeasurements  of  Indebtedness  (including  the  net  loss  or  gain resulting  from  Hedge        Agreements for currency exchange risk),                      (ii)   there  shall  be  excluded  in  determining  Consolidated  Adjusted        EBITDA for any period, any adjustments resulting from the application of Statement of        Financial Accounting Standards No. 133, and                     (iii)  for  purposes  of  determining  the  Leverage  Ratio  or  Interest        Coverage  Ratio  only,  there  shall  be  excluded  in  determining  Consolidated  Adjusted        EBITDA for any period the Disposed EBITDA of any Person, property, business or asset        sold, transferred or otherwise disposed of, closed or classified as discontinued operations        by  Company  or  any  Restricted  Subsidiary  during  such  period  (each  such  Person,        property, business or asset so sold or disposed of, a “Sold Entity or Business”), based on        the actual Disposed EBITDA of such Sold Entity or Business for such period (including        the portion thereof occurring prior to such sale, transfer or disposition).         “Consolidated  Capital  Expenditures”  means,  for  any  period,  the  aggregate  of  all  expenditures  of  Company  and  its  Restricted  Subsidiaries  during such  period  determined  on  a  consolidated  basis  that, in  accordance  with  GAAP,  are  or  should  be  included  in “additions  to  plant, property and equipment” or similar items reflected in the consolidated statement of cash  flows of Company and its Restricted Subsidiaries.         “Consolidated Current Assets” means, as at any date of determination, the total assets  of  Company  and  its  Restricted  Subsidiaries  on  a  consolidated  basis  that  may  properly  be  classified as current assets in conformity with GAAP, excluding Cash and Cash Equivalents.         “Consolidated  Current  Liabilities”  means,  as  at  any  date  of  determination,  the  total  liabilities of Company and its Restricted Subsidiaries on a consolidated basis that may properly                                         -13-                                             105376510     

 

   be  classified  as  current  liabilities  in  conformity  with  GAAP,  excluding  the  current  portion  of  long term debt.         “Consolidated  Interest  Expense”  means,  for  any  period,  total  interest  expense  (including that portion attributable to Capital Leases in accordance with GAAP and capitalized  interest) of Company and its Restricted Subsidiaries on a consolidated basis with respect to all  outstanding  Indebtedness  of  Company  and  its  Restricted  Subsidiaries  (including  all  commissions, discounts and other fees and charges owed with respect to letters of credit and net  costs  under  Hedge  Agreements)  plus  the  amount  of  any  Restricted  Junior  Payments  paid  by  Company  to  Holding  pursuant  to  Section 6.4(c)(i),  but  excluding (to the extent otherwise  included),  however,  (v) interest  expense  in  respect  of  Permitted  Subordinated  Indebtedness  owing  to  Holding,  (w) interest  that  is  capitalized  in  connection  with  construction  financing,  (x) all Transaction Costs, (y) (i) any write-offs of deferred financing expenses in connection with  repayment of Indebtedness and (ii) amortization of deferred financing costs, (z) any expensing of  bridge, commitment and other financing fees); provided that in the event of the consummation of  any  Qualified  Receivables  Financing,  “Consolidated  Interest  Expense”  shall  be  adjusted  to  include  (without  duplication)  an  amount  equal  to  the  interest  (or other fees in the nature of  interest  or  discount  accrued  and  paid  or  payable  in  cash  for  such  period)  on  such  Qualified  Receivables Financing.           “Consolidated  Net  Income”  means,  for  any  period,  (i) the  net  income  (or  loss)  of  Company and its Restricted Subsidiaries on a consolidated basis for such period taken as a single  accounting period determined in conformity with GAAP, minus, to the extent otherwise included  and  without  duplication,  (ii)  (a) any  after-tax gains  (or  losses)  attributable  to  Asset  Sales  or  returned surplus assets of any Pension Plan, (b) (to the extent not included in clause (a) above)  any net extraordinary gains or (plus) net extraordinary losses and (c) income of any Person that is  not a Restricted Subsidiary of the Company or one of the Restricted Subsidiaries or any Person  that is accounted for by the equity method of accounting, provided that Consolidated Net Income  shall be increased by the amount of dividends or other distributions actually paid to Company or  one of the Restricted Subsidiaries by such Persons during such period in respect of the income  earned  by  such  Persons  in  such  period  or  in  any  prior  period  (to  the  extent  not  previously  included in Consolidated Net Income).  In addition, to the extent not already accounted for in the  Consolidated  Net  Income,  notwithstanding  anything  to  the  contrary  in  the  foregoing,  Consolidated Net Income shall include the amount of net proceeds received by Company or any  Restricted Subsidiary thereof from business interruption insurance.         “Consolidated Working Capital” means, as at any date of determination, the excess of  Consolidated Current Assets over Consolidated Current Liabilities.  For purposes of determining  Excess  Cash  Flow  for  any  period,  any  decrease  or  increase  in  Consolidated  Working  Capital  during such period shall exclude (a) the effect of reclassification during such period of current  assets  to  long  term  assets  and  current  liabilities  to  long  term  liabilities,  (b) the  effect  of  any  Permitted Acquisition during such period and (c) the designation of any Unrestricted Subsidiary  as a Restricted Subsidiary or any Restricted Subsidiary as an Unrestricted Subsidiary during such  period; provided that (i) there shall be included with respect to any Permitted Acquisition during  such period an amount (which may be a negative number) by which the Consolidated Working  Capital acquired in such Permitted Acquisition as at the time of such acquisition exceeds (or is  less than) Consolidated Working Capital at the end of such period and (ii) there shall be included                                       -14-                                           105376510    

 

     with respect to any Unrestricted Subsidiary that is designated as a Restricted Subsidiary or any   Restricted  Subsidiary  that  is  designated  as  an  Unrestricted  Subsidiary  during  such  period  an   amount (which may be a negative number) by which the Consolidated Working Capital gained in   such  designation  as  at  the  time  of  such  designation  exceeds  (or  is  less  than)  Consolidated   Working Capital at the end of such period.          “Contractual  Obligation”  means,  as  applied  to  any  Person,  any  provision  of  any   Security issued by that Person or of any indenture, mortgage, deed of trust, contract, undertaking,   agreement  or  other  instrument  to  which  that  Person  is  a  party  or  by  which  it  or  any  of  its   properties is bound or to which it or any of its properties is subject.          “Contributing Guarantors” as defined in Section 7.2.          “Conversion/Continuation  Date”  means  the  effective  date  of  a  continuation  or   conversion, as the case may be, as set forth in the applicable Conversion/Continuation Notice.          “Conversion/Continuation  Notice”  means  a  Conversion/Continuation  Notice   substantially in the form of Exhibit A-2.          “Convertible Debentures” means any senior convertible debentures issued by Holding   after the Amendment and Restatement Effective Date.          “Counterpart Agreement” means a Counterpart Agreement substantially in the form of   Exhibit H delivered by a Subsidiary of Company pursuant to Section 5.9.          “Counterparty  Account”  means  any  Deposit  Account,  Securities  Account  or   commodities  account  (and  all  cash,  Cash  Equivalents  and  other  securities  or  investments   substantially comparable to Cash Equivalents therein) pledged to or deposited with Company or  any  Restricted  Subsidiary  as  cash  collateral  posted  or  deposited  by  a  third  party  contract  counterparty  that  is  not  an  Affiliate  of  the  Company  (including  a  counterparty  in  respect  of  Commodities Obligations) to or for the benefit of Company or any Restricted Subsidiary, in each  case,  only  for  so  long  as  such  account  (and  amounts  therein)  represents  a  security  interest  (including as a result of an escrow arrangement) in favor (and not an ownership interest in the  amounts therein) of Company or the applicable Restricted Subsidiary.         “Counterparty Cash” as defined in the definition of “Excluded Assets”.         “Crédit Agricole” as defined in the preamble hereto.         “Credit Date” means the date of a Credit Extension.         “Credit Document” means any of this Agreement, the Notes, if any, the Intercompany   Subordination  Agreement,  the  Collateral  Documents,  any  Letter  of  Credit  Applications  or   reimbursement  agreements  or  other  documents  or  certificates  requested  by  an  Issuing  Bank   executed  by  Company  in  favor  of an  Issuing  Bank  relating  to  Letters  of  Credit,  and  all  other   certificates, instruments or agreements executed and delivered by a Credit Party for the benefit of   any Agent, any Issuing Bank or any Lender in connection herewith.                                         -15-                                             105376510     

 

           “Credit  Extension”  means  and  includes  the  making  (but  not  the  conversion  or   continuation) of a Loan and the issuance, amendment, extension or renewal of a Letter of Credit.          “Credit Party” means Company and each Guarantor.         “Currency  Agreement”  means  any  foreign  exchange  contract,  currency  swap   agreement,  futures  contract,  option  contract,  synthetic  cap  or other  similar  agreement  or   arrangement, each of which is for the purpose of hedging the foreign currency risk associated   with Company’s and its Subsidiaries’ operations and not for speculative purposes.          “Debtor  Relief  Laws”  means  the  Bankruptcy  Code,  and  all  other  liquidation,   conservatorship, bankruptcy, assignment for the benefit of creditors, moratorium, rearrangement,  receivership,  insolvency,  reorganization, or  similar  debtor  relief  laws  of  the  United  States  or  other applicable jurisdictions from time to time in effect.         “Declined Proceeds” as defined in Section 2.14(h).          “Default” means a condition or event that, after notice or lapse of time or both, would   constitute an Event of Default.          “Defaulting Lender” means, subject to Section 2.22(b), 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 Administrative Agent and Company   in  writing  that  such  failure  is  the  result  of  such  Lender’s  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 Administrative Agent, any Issuing Bank, Swing Line 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 Swing Line Loans)  within  two  (2) Business Days  of  the  date  when  due,  (b) has  notified  Company,  Administrative  Agent,  any  Issuing  Bank  or  Swing  Line  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  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  Administrative Agent or Company, to confirm in writing to Administrative Agent and Company  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  Administrative  Agent  and  Company),  or  (d) has, or has a direct or indirect   parent company that has, (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 with reorganization or liquidation of its business or   assets,  including  the  Federal  Deposit  Insurance  Corporation  or any  other  state  or  federal   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 Capital Stock in that Lender or any direct or indirect parent company thereof                                        -16-                                             105376510     

 

     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 or from the   enforcement of judgments or writs of attachment on its assets or permit such Lender (or such   Governmental  Authority  or  instrumentality)  to  reject,  repudiate,  disavow  or  disaffirm  any   contracts or agreements made with such Lender.  Any determination by Administrative Agent   that a Lender is a Defaulting Lender under any one or more of clauses (a) through (d) above, and   of the effective date of such status, shall be conclusive and binding absent manifest error, and   such Lender shall be deemed to be a Defaulting Lender (subject to Section 2.22(b)) as of the date   established therefor by Administrative Agent in a written notice  of  such  determination,  which   shall be delivered by Administrative Agent to Company, each Issuing Bank, Swing Line Lender   and each other Lender promptly following such determination.          “Default  Rate”  means  (a)  when  used  with  respect  to  Obligations  other  than  Letter  of   Credit Fees, an interest rate equal to (i) the Base Rate plus (ii) the Applicable Margin, if any,   applicable  to  Base  Rate  Loans  of  the  relevant  Type  of  Loan  plus  (iii)  2.00%  per  annum;   provided,  however,  that  with  respect  to  a  Eurodollar  Rate  Loan,  the  Default  Rate  shall  be  an   interest rate equal to the interest rate (including any Applicable Margin applicable to the relevant   Type of Loan) otherwise applicable to such Loan plus 2.00% per annum, and (b) when used with   respect  to  Letter  of  Credit  Fees,  a  rate  equal  to  the  Applicable  Margin  that  applies  to  the   applicable Revolving Loans that are Eurodollar Rate Loans plus 2.00% per annum.          “Deposit  Account”  means  a  demand,  time,  savings,  passbook  or  like  account  with a   bank,  savings  and  loan  association,  credit  union  or  like  organization,  other  than  an  account   evidenced by a negotiable certificate of deposit.         “Designated Jurisdiction” means any country or territory that is the subject of country- wide or territory-wide Sanctions broadly prohibiting dealings with or in such country or territory.         “Designated  Non-Cash  Consideration”  means  the  amount  of  any  non-cash  consideration received by Company or any of its Restricted Subsidiaries in connection with an  Asset Sale that is so designated as Designated Non-Cash Consideration pursuant to a certificate  of  an  Authorized  Officer  of  the Company,  setting  forth  the  basis  of  such  valuation,  less  the  amount of cash received in connection with any subsequent sale of such Designated Non-Cash  Consideration.         “Development Stage” means, with respect to any Excluded Project Subsidiary the period  prior  to  the  first  anniversary  of  the  date  of  commencement  of  its  commercial  operations  of  a  Project, as indicated on a certificate executed by an Authorized Officer of Company.         “Development Subsidiary” means, solely for the purpose of excluding such Subsidiary  from  Company’s  obligation  to  comply  with  Section 5.9  with  respect  to  such  Subsidiary,  a   Restricted Subsidiary established by Company or any of its Restricted Subsidiaries for the sole   purpose  of  bidding  on  a  prospective  Project;  provided  that  (i) any  equity  Investment  in  such   Subsidiary  by  Company  or  another Subsidiary  of  Company  in  aggregate  when  taken  together   with all other equity Investments in Development Subsidiaries shall not exceed $10,000,000 at   any one time outstanding; (ii) such Subsidiary shall have no assets other than Cash pursuant to   clause (i)  of  this  definition  and  intercompany  Indebtedness  permitted  hereunder  and  the                                        -17-                                             105376510     

 

   agreements to which it is party and which are entered into in the ordinary course of business and  are  necessary  for  it  to  develop  or  bid  on  prospective  Projects and  (iii) such  Subsidiary’s  sole  business shall be limited to those actions necessary to develop or bid on prospective Projects.  At  such  time,  if  any,  as  such  Subsidiary  shall  incur  any  Indebtedness  (other  than  intercompany  Indebtedness permitted hereunder), grant any Liens or make any Investment or Restricted Junior  Payment or carry on any activity other than that expressly permitted by sub-clause (iii) above,  such Subsidiary shall cease to be a Development Subsidiary.         “Disposed EBITDA” means, with respect to any Sold Entity or Business for any period,  the amount for such period of Consolidated Adjusted EBITDA of such Sold Entity or Business  (determined  as  if  references  to  Company  and  the  Restricted  Subsidiaries  in  the  definition  of  Consolidated  Adjusted  EBITDA  were  references  to  such  Sold  Entity  or  Business  and  its  Restricted  Subsidiaries),  all  as determined  on  a  consolidated  basis  for  such  Sold  Entity  or  Business.         “Disqualified  Lender”  means,  on  any  date,  (a)  any  Person  that  has  been  specified  in  writing (with reference to such Person’s legal name) by Company to the Administrative Agent  and the Lead Arrangers on or prior to the Amendment and Restatement Effective Date as being a  Disqualified Lender, (b) any Person that is a competitor of the Company and its Subsidiaries that  has been specified in writing (with reference to such Person’s legal name) by Company to the  Administrative Agent from time to time as being a Disqualified Lender (specifying such Person  by legal name) not less than five (5) Business Days prior to such date and (c) in the case of each  of clauses (a) and (b), any Affiliate of any such Person that is either (i) identified in writing (with  reference to such Person’s legal name) by Company to the Administrative Agent from time to  time not less than five (5) Business Days prior to such date or (ii) clearly identifiable on the basis  of such Affiliate’s name; provided that “Disqualified Lender” shall exclude (A) any Person that  the  Company  has  designated  as  no  longer  being  a  “Disqualified  Lender”  by  written  notice  delivered to the Administrative Agent from time to time and (B) any Person that is a bona fide  Fund).         “Dollar Equivalent” means, at any time, (a) with respect to any amount denominated in  Dollars,  such  amount,  and  (b)  with  respect  to  any  amount  denominated  in  any  Alternative  Currency, the equivalent amount thereof in Dollars as determined by Administrative Agent or the  Issuing  Bank,  as  the  case  may  be,  at  such  time  on  the  basis  of the  Spot  Rate  (determined  in  respect of the most recent Revaluation Date) for the purchase of Dollars with such Alternative  Currency.         “Dollars” and the sign “$” mean the lawful money of the United States of America.         “Domestic  Subsidiary” means any Restricted Subsidiary of Company organized under  the laws of the United States of America, any State thereof or the District of Columbia other than  any such Subsidiary that is a CFC Holding Company.         “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                                       -18-                                           105376510    

 

     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, Norway and the United Kingdom.          “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.          “Eligible Assignee” means (i) any Lender, any Affiliate of any Lender and any Related   Fund (any two or more Related Funds being treated as a single Eligible Assignee for purposes of   Section 10.6),  and  (ii) any  other  Person  that  meets  the  requirements  to  be  an  assignee  under   Section 10.6(c) and (d)(i) (subject to such consents, if any, as may be required under Sections   10.6(c)(i),  (ii)  or  (iii)),  provided  that  no  natural  person  (or  a  holding  company,  investment   vehicle  or  trust  for,  or  owned  and  operated  for  the  primary  benefit of, a natural person),   Defaulting Lender nor the Company, Holding or any Affiliate of Company or Holding shall be   an Eligible Assignee.  For the avoidance of doubt, any Disqualified Lender is subject to Section   10.6(i).          “Employee Benefit Plan” means any “employee benefit plan” as defined in Section 3(3)   of  ERISA  which  is  or  was  sponsored,  maintained  or  contributed  to  by,  or  required  to  be   contributed to by, Company or any of its Subsidiaries.          “EMU” means the Economic and Monetary Union as contemplated in the EU Treaty.         “EMU Legislation” means the legislative measures of the EMU for the introduction of,   changeover to, or operation of the Euro in one or more member states.          “Engagement  Letter”  means  the  Engagement  Letter,  dated  May  9,  2018,  by  and   between Company and MLPFS.          “Environmental Claim” means any notice of violation, claim, action, suit, proceeding,   demand,  abatement  order  or  other  order  or  directive,  by  any  Governmental  Authority  or  any   other Person, arising (i) pursuant to or in connection with any actual or alleged violation of any   Environmental  Law;  (ii) in  connection  with  any  Release  or  threatened  Release  of  Hazardous   Material; or (iii) in connection with any actual or alleged damage, injury, threat or harm to health   (due to exposure to any Hazardous Material), natural resources or the environment.         “Environmental Laws” means any and all current or future foreign or domestic, federal  or  state  (or  any  subdivision  of  either  of  them),  statutes,  laws  (including  common  law),  ordinances, orders, decrees, rules, regulations, or judgments relating to (i) environmental matters,   including  those  relating  to  pollution  or  any  Release  or  threatened  Release  of  Hazardous   Materials;  (ii) the  generation,  use,  storage,  transportation,  treatment,  processing,  removal,   remediation  or  disposal  of  Hazardous  Materials;  or  (iii) occupational  safety  and  health(due  to   exposure  to  any  Hazardous  Material,  in  any  manner  applicable  to  Company  or  any  of  its   Subsidiaries or any Facility.                                         -19-                                             105376510     

 

           “Environmental Liability” means any liability, contingent or otherwise (including any  liability  for  damages,  costs  of  environmental  remediation,  fines,  penalties  or  indemnities),  of  Company  or  any  of  its  Subsidiaries  directly  or  indirectly  resulting  from  or  based  upon  (a) violation  of  any  Environmental  Law,  (b) the  generation,  use,  handling,  transportation,  storage,  treatment  or  disposal  of  any  Hazardous  Materials,  (c) exposure  to  any  Hazardous  Materials,  (d) the  Release  or threatened  Release  of  any  Hazardous  Materials  into  the  environment or (e) any written contract, agreement or consent order or decree pursuant to which  liability is assumed or imposed with respect to any of the foregoing.          “ERISA” means the Employee Retirement Income Security Act of 1974, as amended,   and the rules and regulations promulgated thereunder.          “ERISA  Affiliate”  means,  as  applied  to  any  Person,  (i) any  corporation  which  is a   member  of  a  controlled  group  of  corporations  within  the  meaning  of  Section 414(b)  of  the   Internal Revenue Code of which that Person is a member; (ii) any trade or business (whether or   not incorporated) which is a member of a group of trades or businesses under common control   within the meaning of  Section 414(c) of the Internal Revenue Code of  which that Person is a   member;  and  (iii) any  member  of  an  affiliated  service  group  within  the  meaning  of   Section 414(m)  or  (o) of  the  Internal  Revenue  Code  of  which  that  Person,  any  corporation   described in clause (i) above or any trade or business described in clause (ii) above is a member.    Any  former  ERISA  Affiliate  of  Company  or  any  of  its  Subsidiaries  shall  continue  to  be   considered an ERISA Affiliate of Company or any such Subsidiary within the meaning of this   definition with respect to the period such entity was an ERISA Affiliate of Company or such   Subsidiary and with respect to liabilities arising after such period for which Company or such   Subsidiary could be liable under the Internal Revenue Code or ERISA.          “ERISA  Event” means (i) a “reportable event” within the meaning of Section 4043 of   ERISA and the regulations issued thereunder with respect to any Pension Plan (excluding those  for which the provision for 30-day notice to the PBGC has been waived by regulation); (ii) the  failure to meet the minimum funding standard of Section 412 of the Internal Revenue Code or   Section 302 of ERISA with respect to any Pension Plan (whether or not waived in accordance   with Section 412(c) of the Internal Revenue Code or Section 302(c) of ERISA) or the failure to   make by its due date a required installment under Section 430(j) of the Internal Revenue Code   with  respect  to  any  Pension  Plan  or  the  failure  to  make  any  required  contribution  to  a   Multiemployer  Plan;  (iii) the  provision  by  the  administrator  of  any  Pension  Plan  pursuant  to  Section 4041(a)(2) of ERISA of a notice of intent to terminate such plan in a distress termination  described in Section 4041(c) of ERISA; (iv) the withdrawal by Company, any of its Subsidiaries  or any of their respective ERISA Affiliates from any Pension Plan with two or more contributing  sponsors or the termination of any such Pension Plan resulting in liability to Company, any of its  Subsidiaries  or  any  of  their  respective  Affiliates  pursuant  to Section 4063  or 4064  of  ERISA;  (v) the institution by the PBGC of proceedings to terminate any Pension Plan, or the occurrence  of any event or condition which might constitute grounds under ERISA for the termination of, or  the appointment of a trustee to administer, any Pension Plan; (vi) the imposition of liability on  Company,  any  of  its  Subsidiaries  or any  of  their  respective  ERISA  Affiliates  pursuant  to   Section 4062(e) or 4069 of ERISA or by reason of the application of Section 4212(c) of ERISA;   (vii) the  withdrawal  of  Company,  any  of  its  Subsidiaries  or  any  of  their  respective  ERISA   Affiliates in a complete or partial withdrawal (within the meaning of Sections 4203 and 4205 of                                        -20-                                             105376510     

 

     ERISA) from any Multiemployer Plan, if there is any potential material liability therefor, or the   receipt by Company, any of its Subsidiaries or any of their respective ERISA Affiliates of notice   from any Multiemployer Plan that it is insolvent pursuant to Section 4245 of ERISA, or that it   intends  to  terminate  or  has  terminated  under  Section 4041A  or 4042  of  ERISA;  (viii) the   occurrence of an act or omission which could give rise to the imposition on Company, any of its   Subsidiaries  or  any  of  their  respective  ERISA  Affiliates  of  fines,  penalties,  taxes  or  related   charges  under  Chapter 43  of  the  Internal  Revenue  Code  or  under Section 409,  Section 502(c),   (i) or (l), or Section 4071 of ERISA in respect of any Employee Benefit Plan; (ix) the assertion   of a material claim (other than routine claims for benefits) against any Employee Benefit Plan   other  than  a  Multiemployer  Plan  or  the  assets  thereof,  or  against  Company,  any  of  its   Subsidiaries  or  any  of  their  respective  ERISA  Affiliates  in  connection  with  any  Employee   Benefit  Plan;  (x) receipt  from  the  Internal  Revenue  Service  of  notice  of  the  failure  of  any   Pension Plan (or any other Employee Benefit Plan intended to be qualified under Section 401(a)   of the Internal Revenue Code) to qualify under Section 401(a) of the Internal Revenue Code, or   the failure of any trust forming part of any Pension Plan (or any other Employee Benefit Plan) to   qualify for exemption from taxation under Section 501(a) of the Internal Revenue Code; (xi) the   imposition  of  a  Lien  pursuant  to Section 430(k)  of  the  Internal  Revenue  Code  or  pursuant  to   ERISA  with  respect  to  any  Pension  Plan;  or  (xii) the  determination  that  any  Pension  Plan  is   considered  an  at-risk  plan  or  a  plan  in  endangered  or  critical status  within  the  meaning  of   Sections 430, 431 and 432 of the Internal Revenue Code or Sections 303, 304 and 305 of ERISA.           “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.          “EU Treaty” means the Treaty on European Union.          “Euro”  means  the  single  currency  of  the  Participating  Member  States  introduced  in  accordance with the provisions of Article 109(i)4 of the EU Treaty.         “Euro Denominated Loan” means each Loan denominated in Euros.         “Eurodollar Rate” means           (a)   with respect to any Credit Extension:               (i)   denominated  in  a  LIBOR  Quoted  Currency,  the  LIBOR  Screen  Rate  at         approximately 11:00 a.m., London time, two Business Days prior to the commencement         of such Interest Period, for deposits in the relevant currency (for delivery on the first day         of such Interest Period) with a term equivalent to such Interest Period;                (ii)  denominated  in  Canadian  dollars,  the  rate  per  annum  equal  to  the         Canadian Dealer Offered Rate (“CDOR”) or a comparable or successor rate, which rate         is  approved  by  the  Administrative  Agent,  as  published  on  the  applicable  Bloomberg         screen  page  or  other  applicable  screen  page  the  Administrative Agent  designates  to         determine CDOR (or such other commercially available source providing such quotations         as may be reasonably designated by the Administrative Agent from time to time)) at or                                        -21-                                             105376510     

 

         about 10:00 a.m. (Toronto, Ontario time) on the Interest Rate Determination Date with a       term equivalent to such Interest Period; or               (iii)  denominated  in  any  other  Non-LIBOR  Quoted  Currency,  the  rate  per        annum  as  reasonably  designated  with  respect  to  such  Alternative  Currency  at  the  time        such Alternative Currency is approved by the Administrative Agent and the Revolving        Lenders pursuant to Section 1.5(a)); and         (b)   for any interest calculation with respect to a Base Rate Loan on any date, the rate  per annum equal to LIBOR, at or about 11:00 a.m., London time determined two Business Days  prior to such date for U.S. Dollar deposits with a term of one month commencing that day;   provided  that  to  the  extent  a  comparable  or  successor  rate  is  approved  by  the  Administrative  Agent in connection with any rate set forth in this definition, the approved rate shall be applied  reasonably in a manner consistent with market practice; provided, further that to the extent such  market practice is not administratively feasible for the Administrative Agent, such approved rate  shall be applied in a manner as otherwise reasonably determined by the Administrative Agent.     If the Eurodollar Rate shall be less than zero, such rate shall be deemed zero for purposes of this  Agreement.          “Eurodollar  Rate  Loan”  means  a  Loan  bearing  interest  at  a  rate  determined  by  reference to the Eurodollar Rate.  Eurodollar Rate Loans may be denominated in Dollars or in an  Alternative Currency.  All Loans denominated in an Alternative Currency  must  be Eurodollar  Rate Loans.         “Event of Default” means each of the conditions or events set forth in Section 8.1.         “Excess Cash Flow” means, for any period, an amount equal to:               (a)   the sum, without duplication, of:                     (i)  Consolidated Net Income for such period,                     (ii)  an  amount  equal  to  the  amount  of  all  non-cash  charges  to  the        extent  deducted  in  arriving  at  such  Consolidated  Net  Income  (excluding  any  such        non-Cash  item  to  the  extent  that  it  represents  an  accrual  or  reserve  for  potential  Cash        items to be paid within the next twelve months or amortization of a prepaid Cash item        that was paid in a prior period),                     (iii)  decreases in Consolidated Working Capital and long-term account       receivables  for  such  period  (other  than  such  decreases  arising from  acquisitions  by       Company and the Restricted Subsidiaries completed during such period),                    (iv)  an amount equal to the aggregate net non-cash loss on Asset Sales        by Company and the Restricted Subsidiaries during such period to the extent deducted in        arriving at such Consolidated Net Income,                                        -22-                                           105376510    

 

                     (v)   an amount equal to the loss, if any, of any Person accrued prior to        the date it becomes a Restricted Subsidiary of Company or is merged into or consolidated        with Company or any of its Restricted Subsidiaries or that Person’s assets are acquired by        Company or any of its Restricted Subsidiaries during such period to the extent deducted        in arriving at such Consolidated Net Income,                     (vi)  an  amount  equal  to  the  repayments,  interest,  returns,  profits,        distributions,  income  and  similar  amounts  actually  received  in  cash  from  any  Joint        Venture in which Company or any of its Restricted Subsidiaries owns a minority interest        or from any Unrestricted Subsidiary, and                     (vii)  an amount equal to minority interest expense during such period,        minus               (b)   the sum, without duplication, of:                     (i)   an amount equal to the amount of all non-cash credits included in        arriving at such Consolidated Net Income and extraordinary cash charges included,                     (ii)  without  duplication  of  amounts  deducted  pursuant  to  clause (xi)        below in prior Fiscal Years, the amount of Consolidated Capital Expenditures made in        cash or accrued during such period, except to the extent that such Consolidated Capital        Expenditures  were  financed  with  the  proceeds  of  Indebtedness  of  Company  or  the        Restricted Subsidiaries,                     (iii)  the aggregate amount of all principal payments of Indebtedness of        Company  and  the  Restricted  Subsidiaries  (including  (A) the  principal  component  of        payments in respect of Capital Leases and (B) the amount of any mandatory prepayment        of Term Loans pursuant to Section 2.14(a) to the extent required due to an Asset Sale that        resulted in an increase to Consolidated Net Income and not in excess of the amount of        such  increase  but  excluding  (X) all  other  prepayments  of  Term  Loans  and  (Y) all        prepayments of Revolving Loans and Swing Line Loans) made during such period (other        than  in  respect  of  any  revolving credit  facility  to  the  extent there  is  not  an  equivalent        permanent reduction in commitments thereunder), except to the extent financed with the        proceeds of other Indebtedness of Company or the Restricted Subsidiaries,                     (iv)  any  amount  equal  to  the  aggregate  net  non-cash  gain  on  Asset        Sales  by  Company  and  the  Restricted  Subsidiaries  during  such  period  to  the  extent        included in arriving at such Consolidated Net Income,                     (v)   increases in Consolidated Working Capital and long-term account        receivables for such period (other than any such increases arising from acquisitions by        Company and the Restricted Subsidiaries during such period),                    (vi)   cash payments by Company and the Restricted Subsidiaries during       such period in respect of long-term liabilities of Company and the Restricted Subsidiaries       other than Indebtedness,                                        -23-                                           105376510    

 

                     (vii)  without  duplication  of  amounts  deducted  pursuant  to  clause (xi)        below  in  prior  Fiscal  Years,  the  amount  of  Investments  and  acquisitions  made  during        such  period  pursuant  to  Section 6.6  (other  than  Section 6.6(a))  to  the  extent  that  such        Investments  and  acquisitions  were  financed  with  internally  generated  cash  flow  of        Company and the Restricted Subsidiaries,                     (viii)  the amount of Restricted Junior Payments paid during such period        pursuant  to  Section 6.4(a),  6.4(b),  6.4(c)  or 6.4(d)  to  the  extent  such  Restricted  Junior        Payments  were  financed  with  internally  generated  cash  flow  of  Company  and  the        Restricted Subsidiaries,                     (ix)  the aggregate amount of expenditures actually made by Company        and the Restricted Subsidiaries in cash during such period (including expenditures for the        payment of financing fees) to the extent that such expenditures are not expensed during        such period,                     (x)   the  aggregate  amount  of  any  premium,  make-whole  or  penalty        payments actually paid in cash by Company and the Restricted Subsidiaries during such        period that are required to be made in connection with any prepayment of Indebtedness,                     (xi)  without duplication of amounts deducted from Excess Cash Flow        in prior periods, the aggregate consideration required to be paid in cash by Company or        any  of  the  Restricted  Subsidiaries  pursuant  to  binding  contracts  (the  “Contract        Consideration”)  entered  into  prior  to  or  during  such  period  relating  to  Permitted        Acquisitions or Consolidated Capital Expenditures to be consummated or made during        the  period  of  four  consecutive  Fiscal  Quarters  of  Company  following  the  end  of  such        period,  provided  that  to  the  extent  the  aggregate  amount  of  internally  generated  cash        actually  utilized  to  finance  such  Permitted  Acquisitions  during  such  period  of  four        consecutive Fiscal Quarters is less than the Contract Consideration, the amount of such        shortfall shall be added to the calculation of Excess Cash Flow at the end of such period       of four consecutive Fiscal Quarters,                    (xii)  the  amount  of  cash  Taxes  paid  in  such  period  to  the  extent  they       exceed the amount of Tax expense deducted in determining Consolidated Net Income for       such period,                    (xiii) all amounts paid in respect of Transaction Costs and fees, costs and       expenses in connection with the Transactions, any Permitted Acquisitions, Investments,       Asset Sales or other dispositions (whether or not consummated),                    (xiv)  an amount equal to the income, if any, of any Person accrued prior       to  the  date  it  becomes  a  Restricted  Subsidiary  of  Company  or  is  merged  into  or       consolidated with Company or any of its Restricted Subsidiaries or that Person’s assets       are acquired by Company or any of its Restricted Subsidiaries during such period to the       extent included in arriving at such Consolidated Net Income; and                    (xv)   cash payments to minority interests in Subsidiaries.                                       -24-                                           105376510    

 

           “Excess Cash Flow Amount” means, at any date of determination, an amount equal to  the sum of the amounts of Excess Cash Flow for all Excess Cash Flow Periods ending on or prior  to the date of determination.         “Excess  Cash  Flow  Period”  means  each  Fiscal  Year  of  Company  beginning  with  the  Fiscal Year ending December 31, 2012.         “Exchange Act” means the Securities Exchange Act of 1934, as amended from time to   time, and any successor statute.          “Excluded  Asset  Sales”  means  the  collective  reference  to  (i) any  sale  or  discount,  in   each  case  without  recourse,  of  notes  or  accounts  receivable  arising  in  the  ordinary  course  of   business, but only in connection with the compromise or collection thereof or to resolve disputes   that  occur  in  the  ordinary  course  of  business,  (ii) any  exchange  of  specific  items  of  property   between Company and any of its Subsidiaries or among any Subsidiaries of Company, so long as   the  purpose  of  each  such  exchange  is  to  acquire  replacement  items  of  property  which  are the   functional equivalent of the item of property so exchanged, (iii) disposals of obsolete, worn out   or surplus property in the ordinary course of business, including, without limitation, intellectual   property, (iv) the  sale, lease, license,  transfer  or  other  disposition  of  equipment,  materials  and   other tangible assets by Company or any Subsidiary of Company to any Subsidiary of Company;   provided,  however,  that  the  aggregate  fair  market  value  of  all such  equipment,  materials  and   other tangible assets sold, leased, licensed, transferred or otherwise disposed of pursuant to this  clause (iv) does not exceed $30,000,000 in the aggregate since the Amendment and Restatement  Effective Date, (v) sales of other assets for aggregate consideration of less than $5,000,000 per  Fiscal  Year  with  respect  to  any  transaction  or  series  of  related  transactions  and  less  than  $10,000,000 per  Fiscal  Year  in  the  aggregate,  (vi) any  license or  sublicense  (other  than  an  exclusive license) of intellectual property owned by Company or its Subsidiaries in the ordinary  course  of  business,  (vii)  the  liquidation  or  otherwise  disposition  of  Cash  Equivalents  in  the  ordinary course of business, (viii) a sale, assignment or other transfer of Receivables Assets, or  participations therein, and related assets by a Receivables Subsidiary in a Qualified Receivables  Financing and (ix) a sale, assignment or other transfer of Receivables Assets, or participations  therein, and related assets (a) to a Receivables Subsidiary in a Qualified Receivables Financing  or (b) to any other Person in a Qualified Receivables Financing.         “Excluded  Assets” means  (i) any  fee-owned  Real  Estate  Asset  not  constituting  a  Material Real Estate Asset and all Real Estate Assets constituting leaseholds, (ii) (a) any vehicles   and  other  assets  subject  to  certificates  of  title  and  (b) any  letter  of  credit  rights  and  any   commercial tort claims, (iii)  any assets the grant of a Lien in respect of which is prohibited by   law or contract (but only to the extent that such prohibition was not created in contemplation   hereof),  requires  third  party  or  governmental  consents  or  results in material adverse tax or   regulatory consequences (as determined in good faith by Company), (iv) any Margin Stock and   any Capital Stock of any Unrestricted Subsidiary, (v) Capital Stock of any Affiliate of a Credit   Party to the extent such pledge would result in additional financial reporting requirements under   Rule 3-16  under  Regulation S-X,  but  only  to  the  extent  necessary  for  such  Grantor  not  to  be   subject  to  such  reporting  requirements, (vi) any assets where the  cost  of  obtaining  a  security   interest  in,  or  perfection  of, such  assets  exceeds  the  practical  benefit  to  the  Secured  Parties   afforded  thereby  (as  reasonably  determined  in  writing  and  in  good  faith  by  Company  and                                        -25-                                             105376510     

 

   Administrative  Agent),  (vii) any  intellectual  property  if  the  grant  of  a  security  interest  therein  shall constitute or result in the abandonment, invalidation or rendering unenforceable any right,  title or interest therein, including U.S. intent-to-use trademark application prior to the filing and  acceptance of a statement of use or affidavit of use in connection therewith, (viii) licenses and  any other property and assets the pledge of which would require Governmental Authorization,  (ix) the Capital Stock of any Non-Guarantor Subsidiary to the extent that a pledge of, or granting  of a security interest in, such Capital Stock would result in material adverse tax consequences to  Holding and its Restricted Subsidiaries as reasonably determined in good faith by Company and  the  Administrative  Agent;  provided  that  such  Capital  Stock  shall  no  longer  constitute  an  “Excluded Asset” at the time any such material adverse tax consequences cease to exist or apply,  (x) except to the extent a security interest can be perfected by filing a financing statement under  the UCC of any relevant jurisdiction or is perfected as a result of assets held therein constituting  proceeds  of  Collateral,  deposit  accounts,  securities  accounts, commodities  accounts  and  any  other  assets  requiring  perfection  through  control  agreements  or  perfection  by  “control”  (other  than Pledged Equity Interests, Pledged Debt, Instruments or Chattel Paper (each as defined in the  Pledge and Security Agreement), (xi) (w) payroll and other employee wage and benefit accounts,  (x) tax accounts, including, without limitation, sales tax accounts, (y) escrow accounts, and (z)  fiduciary or trust accounts and, in the case of clauses (w) through (z), the funds or other property  held  in  or  maintained  in  any  such  account  except  to  the  extent constituting  proceeds  of  Collateral, (xii) any rights under any lease, instrument, contract or agreement of any Credit Party  to the extent that the granting of a security interest therein would, under the express terms of  such lease, instrument, contract or agreement, (I) be prohibited or restricted or (II) result in a  breach of the terms of, constitute a default under or result in a termination of any such lease,  instrument, contract or agreement governing such right, unless (x) such prohibition or restriction  is not enforceable or is otherwise ineffective under applicable law (including the UCC) or (y)  consent to such security interest has been obtained from any applicable third party; provided that  (1) this clause (xii) shall not affect, limit, restrict or impair the grant by any Credit Party of a  security interest in any corresponding Account or any corresponding money or other amounts  due and payable to any Credit Party or to become due and payable to any Credit Party under any  such lease, instrument, contract or agreement unless such security interest in such corresponding  Account, money or other amount due and payable is also specifically prohibited or restricted by  the terms of such lease, instrument, contract or other agreement or such security interest in such  corresponding Account, money or other amount due and payable would expressly constitute a  default  under  or  would  expressly grant  a  party  a  termination  right  under  any  such  lease,  instrument, contract or agreement governing such right unless, in each case, (x) such prohibition  is not enforceable or is otherwise ineffective under applicable law (including the UCC) or (y)  consent to such security interest has been obtained from any applicable third party; and (2) all  security  interests  granted  herein  shall  immediately  and  automatically  attach  to  and  the  term  “Collateral”  shall  immediately  and  automatically  include  the  rights  under  any  such  lease,  instrument, contract or agreement and in any corresponding Account, money, or other amounts  due and payable to any Credit Party at such time as such prohibition, restriction, event of default  or termination right terminates or is waived or consent to such security interest has been obtained  from any applicable third party, (xiii) any assets of any Credit Party financed by purchase money  Indebtedness or Capital Leases permitted pursuant to Section 6.1 of this Agreement, but only to  the extent that the documentation governing such Indebtedness (or any Permitted Lien securing  such Indebtedness) validly prohibits, pursuant to a contractual requirement permitted by Section                                       -26-                                           105376510    

 

     6.3 of this Agreement, the creation by such Credit Party of a security interest or Lien thereon or   requires the consent of any Person, other than the Company and its Affiliates, as a condition to   the creation of any other security interest or Lien on such property or if such contract or other   agreement would be breached or give any party (other than a Credit Party or an Affiliate of a   Credit Party) the right to terminate it as a result of creation of such security interest or Lien, (xiv)   any Counterparty Account, and any cash, Cash Equivalents and/or other securities or investments   substantially comparable to Cash Equivalents, and other funds and investments held therein and   the  proceeds  thereof,  received  from  a  contract  counterparty  other  than  a  Credit  Party  or  an   Affiliate  of  a  Credit  Party  (including  a  counterparty  in  respect  of  Commodities  Obligations)   (collectively, the “Counterparty Cash”) but only to the extent that any agreements governing   the underlying transactions with a contract counterparty other than a Credit Party or an Affiliate   of a Credit Party (including a counterparty in respect of Commodities Obligations) pursuant to   which any such Counterparty Cash was received provide that the pledging of, or other granting   of any Lien in, the relevant Counterparty Cash as collateral for the Obligations of Company or a   Guarantor  Subsidiary  under  the  Credit  Documents  shall  constitute or result in a breach,   termination,  default or  invalidity  under  any  such  agreement,  provided,  however,  that  such   Counterparty  Cash  shall  be  an  Excluded  Asset  only  to  the  extent  and  for  so  long  as  the   consequences  specified  above  shall  exist,  and  shall  cease  to  be  an  Excluded  Asset  and  shall   become subject to the security interest granted under the Collateral Documents, immediately and   automatically,  at such time  as  such consequences  shall  no longer  exist;  and  provided,  further,   that  any  Lien  the  Company  or  any  Guarantor  Subsidiary  may  have in  any  such  Counterparty   Cash shall not be deemed to be an Excluded Asset under this clause (xiv) and such Lien shall   follow  and  be  treated  as  part  of  the  underlying  agreement  (including  any  Commodities   Obligations), and (xv) any asset sold pursuant to a Qualified Receivables Financing (but not the   proceeds  thereof).  Notwithstanding  the  foregoing,  the  Excluded Assets  shall  not  include  the   proceeds, products, substitutions or replacements of any Excluded Assets (except to the extent   that such proceeds, products, substitutions or replacements shall themselves constitute Excluded   Assets).   In  addition,  in  the  event  that  any  Excluded  Asset  ceases  to  constitute  an  Excluded   Asset, then immediately upon such property ceasing to constitute Excluded Asset for any reason,   such  property  shall  be  deemed  at  all  times  from  and  after  such date  to  constitute  Collateral   without any further action.          In addition, (i) no action shall be required in any jurisdiction other than the jurisdiction of   organization of the relevant Credit Party to create or perfect a security interest in assets of such   Credit Party governed by the UCC (and with respect to intellectual property, filings in the United   States Patent and Trademark Office and/or United States Copyright Office, as applicable), (ii) no   action shall be required to be taken in order to perfect assets requiring perfection through control   agreements  or  by  “control”  (including  deposit  accounts,  other  bank  accounts  or  securities   accounts  or  letter  of  credit  rights)  (other  than  (x) the  delivery of Certificated Securities (as   defined  in  the  Pledge  and  Security  Agreement)  required  to  be  pledged  under  the  Credit   Documents  and  (y) to  perfect  security  interests  in  Guarantors  organized  as  limited  liability   companies or partnerships); provided, that no other party (including but not limited to the Senior   Representative) has taken such action to perfect such assets through control agreements or by  “control”, (iii) the Credit Parties shall not be required to obtain any landlord waivers, estoppels  or collateral access letters, (iv) no security agreements or pledge agreements governed by any  foreign law shall be required and (v) the foregoing provisions of this definition shall not require                                         -27-                                             105376510     

 

     the creation or perfection of pledges of or security interests in, or the obtaining of title insurance,  legal opinions or other deliverables with respect to, particular assets of the Credit Parties, or the  provision  of  guarantees  by  any  Subsidiary,  if,  and  for  so  long as and to the extent that the  Administrative Agent and the Company reasonably agree in writing that the cost of creating or  perfecting such pledges or security interests in such assets, or obtaining such title insurance, legal  opinions or other deliverables in respect of such assets, or providing such guarantees (taking into  account any adverse tax consequences to Holding and its Affiliates (including the imposition of  material withholding or other taxes)), shall be excessive in view of the benefits to be obtained by  the Lenders therefrom.         “Excluded Project Subsidiary” means, at any time, any “Excluded Project Subsidiary”  as  of  the  Amendment  and  Restatement  Effective  Date  and  any  Restricted  Subsidiary  that  (i) becomes a Restricted Subsidiary of Company after the Amendment and Restatement Effective  Date or is in its Development Stage as of the Amendment and Restatement Effective Date and is  an  obligor  or  otherwise  bound  with  respect  to  Indebtedness  that  constitutes  Limited  Recourse  Debt  and  that  is  not  an  obligor  with  respect  to  any  other  Indebtedness,  and  (ii) has  been  designated  by  a  certificate  executed  by  an  Authorized  Officer  of  Company  as  an  Excluded  Project Subsidiary dedicated to the operation of one or more Projects that has been and is to be  financed only with equity contributions in cash and Limited Recourse Debt (and not any other  Indebtedness).         The board of directors of Company or the Chief Executive Officer, the Chief Financial  Officer or the Treasurer of Company may designate any Restricted Subsidiary that complies with  the  requirements  above  to  be  an  Excluded  Project  Subsidiary.   The  board  of  directors  of  Company  or  the  Chief  Executive  Officer,  the  Chief  Financial  Officer  or  the  Treasurer  of  Company may designate any Excluded Project Subsidiary to be a Restricted Subsidiary that is  not an Excluded Project Subsidiary, provided that if any existing Limited Recourse Debt of such   Excluded Project Subsidiary ceases to constitute Limited Recourse Debt upon such designation   or  thereafter,  such  Indebtedness  will  be  deemed  incurred  at  the  time  it  ceases  to  be  Limited   Recourse Debt.          “Excluded  Subsidiary”  means  (i) each  Domestic  Subsidiary  of  Company  or  of  any   Subsidiary of Company for which becoming a Credit Party would constitute a violation of (a) a   Contractual  Obligation  existing on  the  Amendment  and  Restatement  Effective  Date  or,   thereafter,  a  bona  fide  Contractual  Obligation  (the  prohibition  contained  in  which  was  not   entered into in contemplation of this provision), in favor of a Person (other than Company or any   of  its  Subsidiaries  or  Affiliates)  for  which  the  required  consents  have  not  been  obtained   (including, without limitation, any Excluded Project Subsidiary) or (b) applicable law (including   financial assistance, fraudulent conveyance, preference, capitalization or other similar laws and   regulations)  affecting  such  Subsidiary,  provided  that  any  such  Subsidiary  of  Company  or  of   another Subsidiary shall cease to be covered under this clause at such time as such Subsidiary’s   becoming a Credit Party would no longer constitute a violation of such Contractual Obligation or   applicable law or regulation, whether as a result of obtaining the required consents or otherwise,   (ii) any CFC or CFC Holding Company, (iii) any direct or indirect Subsidiary of a CFC or CFC   Holding  Company,  (iv)  each  Subsidiary  with  respect  to  which,  as  reasonably  determined  by   Company in consultation with Administrative Agent, providing such a Guaranty would result in   materially adverse tax consequences, (v) any Subsidiary with respect to which, in the reasonable                                        -28-                                             105376510     

 

     judgment  of  Administrative  Agent  and  Company,  as  agreed  in  writing,  the  cost  or  other   consequences  of  providing  a  Guaranty  of  the  Obligations  shall  be  excessive  in  view  of  the   benefits  to  be  obtained  by  the  Lenders  therefrom,  (vi) each  Domestic  Subsidiary  of  Company  identified on Schedule 1.1(b)-1, (vii) a special purpose securitization vehicle (or similar entity),   (viii)  a  captive  insurance  Subsidiary  and  (ix)  in  the  case  of  any  obligation  under  any  Hedge   Agreement,  any  Subsidiary  of  the  Company  that  is  not  an  “Eligible  Contract  Participant”  as   defined under the Commodity Exchange Act.  The Excluded Subsidiaries, as of the Amendment   and Restatement Effective Date, by virtue of clause (i), above, are listed on Schedule 1.1(b)-2.          “Excluded  Swap  Obligation”  means,  with  respect  to  any  Credit  Party,  any  Swap   Obligation if, and to the extent that, and only for so long as, all or a portion of the guarantee of   such  Credit  Party  of,  or  the  grant  by  such  Credit  Party  of  a  security  interest  to  secure,  as   applicable,  such  Swap  Obligation  (or  any  guarantee  thereof)  is or  becomes  illegal  under  the   Commodity Exchange Act or any rule, regulation or order of the Commodity Futures Trading   Commission (or the application or official interpretation of any thereof) by virtue of such Credit   Party’s  failure  for  any  reason  to  constitute  an  “eligible  contract  participant”  as  defined  in  the   Commodity  Exchange  Act  (determined  after  giving  effect  to  any  “keepwell,  support  or  other   agreement” for the benefit of such Credit Party and any and all guarantees of such Credit Party’s   Swap Obligations by other Credit Parties) at the time the guarantee of such Credit Party, or a   grant by such Credit Party of a security interest, becomes or would become effective with respect   to such Swap Obligation.  If a Swap Obligation arises under a master agreement governing more   than one swap, such exclusion shall apply only to the portion of such Swap Obligation that is   attributable  to  swaps  for  which such  guarantee  or  security  interest  is  or  becomes  excluded  in   accordance with the first sentence of this definition.          “Excluded  Taxes” means any of the following Taxes imposed on or with respect to a   Recipient  or  required  to  be  withheld  or  deducted  from  a  payment  to  a  Recipient,  (a)  Taxes   imposed  on  or  measured  by  net  income  (however  denominated),  franchise  Taxes,  and  branch   profits Taxes, in each case, (i) imposed as a result of such Recipient being organized under the   laws of, or having its principal office or, in the case of any Lender, its applicable lending office   located in, the jurisdiction imposing such Tax (or any political subdivision thereof) or (ii) that are   Other Connection Taxes, (b) U.S. federal withholding Taxes imposed on amounts payable to or   for the account of such Recipient with respect to an applicable interest in a Loan or Commitment   pursuant to a law in effect on the date on which (i) such Recipient acquires such interest in the   Loan  or  Commitment  (other  than  pursuant  to  an  assignment  request  by  the  Company  under   Section  2.23)  or  (ii)  such  Recipient  changes  its  lending  office,  (c)  Taxes  attributable  to  such   Recipient’s failure to comply with Section 2.20(e) or (g) and (d) any withholding Taxes imposed   under FATCA.          “Exempt  Subsidiary”  means  any  “Exempt  Subsidiary”  under  the  First  Amended  and  Restated  Credit  Agreement  as  of  the  Amendment  and  Restatement  Effective  Date  and  any  Domestic  Subsidiary  that  becomes  a  Restricted  Subsidiary  of  Company  after  the  Amendment  and Restatement Effective Date and on the date of becoming such Restricted Subsidiary (i) is not  a Wholly Owned Subsidiary; provided that any such Subsidiary shall cease to be covered under   this  clause  at  the  time  such  Subsidiary  becomes  a  Wholly  Owned  Subsidiary,  (ii) is  an   Immaterial Restricted Subsidiary; provided that any such Subsidiary shall cease to be covered   under this clause at the time such Subsidiary is no longer an Immaterial Restricted Subsidiary                                        -29-                                             105376510     

 

   and  (iii) the  guaranteeing  of  the  Obligations  by  which  would  result  in  material  adverse  tax  consequences or adverse accounting consequences to Company and its Restricted Subsidiaries as  reasonably determined in good faith by Company; provided that any such Subsidiary shall cease  to  be  covered  under  this  clause  at  the  time  any  such  material  adverse  tax  consequences  or  adverse  accounting  consequences  cease  to  exist  or  apply  and  (iv) the  guaranteeing  of  the  Obligations by which would result in costs that are excessive in relation to the value afforded by  such guarantee (as reasonably determined by Company and Administrative Agent).          “Existing  Letters  of  Credit”  means  those  Letters  of  Credit  listed  on  Schedule  1.1(c)  outstanding on the Amendment and Restatement Effective Date.         “Existing Mortgage” as defined in Section 3.1(m).         “Expansion”  means,  with  respect  to  any  Project,  additions,  improvements, accessions,  restorations, replacements or supplements to the existing facilities of such Projects.         “Extension  Request”  means  a  Revolving  Commitment  Extension  Request  or  a  Term  Loan Extension Request, as applicable.         “Facility”  means  any  real  property  (including  all  buildings,  fixtures  or other  improvements located thereon) now, hereafter or heretofore owned, leased, operated or used by  Company  or  any  of  its  Subsidiaries  or  any  of  their  respective  predecessors  or  Affiliates  of  Company, any of its Subsidiaries, or any such predecessors.         “Fair Share” as defined in Section 7.2.         “Fair Share Contribution Amount” as defined in Section 7.2.         “FATCA”  means  Sections 1471 through 1474 of the Internal Revenue 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  Internal  Revenue  Code  and  any  fiscal  or  regulatory  legislation,  rules  or  practices  adopted  pursuant  to  any  intergovernmental  agreement,  treaty  or  convention  among  Governmental  Authorities and implementing such Sections of the Internal Revenue Code.         “Federal Funds Effective Rate” means for any day, the rate per annum (expressed, as a  decimal, rounded upwards, if necessary, to the next higher 1/100 of 1.00%) equal to the weighted  average  of  the  rates  on  overnight  Federal  funds  transactions  with  members  of  the  Federal  Reserve System, as published by the Federal Reserve Bank of New York on the Business Day  next  succeeding  such  day;  provided,  (i) if  such  day  is  not  a  Business  Day,  the  Federal  Funds  Effective  Rate  for  such  day  shall  be  such  rate  on  such  transactions  on  the  next  preceding  Business Day as so published on the next succeeding Business Day, and (ii) if no such rate is so  published on such next succeeding Business Day, the Federal Funds Effective Rate for such day  shall be the average rate (rounded upwards, if necessary, to a whole multiple of 1/100 of 1%)  charged to Bank of America on such day on such transactions as determined by Administrative  Agent.                                        -30-                                           105376510    

 

           “Fee Letter” means that Fee Letter, dated as of May 9, 2018, by and between Company   and MLPFS.          “First Amended and Restated Credit Agreement” as defined in the Recitals.          “First Amendment and Restatement Effective Date” means April 10, 2015.          “First Priority” means, with respect to any Lien purported to be created in any Collateral   pursuant to any Collateral Document, that such Lien is the only Lien to which such Collateral is   subject, other than any Permitted Lien.          “Fiscal Quarter” means a fiscal quarter of any Fiscal Year.          “Fiscal Year” means the fiscal year of Company and its Restricted Subsidiaries ending   on December 31 of each calendar year.           “Foreign  Subsidiary”  means  any  Restricted  Subsidiary  that  is  not  a  Domestic   Subsidiary.   The  Foreign  Subsidiaries  of  Company,  as  of  the  Amendment  and  Restatement   Effective Date, are listed on Schedule 1.1(d).           “Fronting Exposure” means, at any time there is a Defaulting Lender, (a) with respect to  any Issuing Bank, such Defaulting Lender’s Pro Rata Share of the Outstanding Amount of all  L/C Obligations with respect to Letters of Credit issued by such Issuing Bank other than such  L/C  Obligations  as  to  which  such  Defaulting  Lender’s  participation  obligation  has  been  reallocated  to  other  Lenders  or  Cash  Collateralized  in  accordance  with  the  terms  hereof,  and  (b) with  respect  to  the  Swing  Line  Lender,  such  Defaulting  Lender’s  Pro  Rata  Share  of  the  Swing  Line  Loans  other  than  such  Swing  Line  Loans  as  to  which  such  Defaulting  Lender’s  participation  obligation  has  been  reallocated  to  other  Lenders in  accordance  with  the  terms  hereof.         “Fund” means any Person (other than a natural Person) that is engaged or advises funds  or  other  investment  vehicles  that  are  engaged  in  making,  purchasing,  holding,  or  investing  in  commercial  loans,  fixed-income  instruments,  bonds  and  similar  extensions  of  credit  in  the  ordinary course.         “Funding Guarantors” as defined in Section 7.2.          “Funding Notice” means a notice substantially in the form of Exhibit A-1 or such other   form  as  may  be  reasonably  approved  by  Administrative  Agent  (including  any  form  on  an   electronic  platform  or  electronic  transmission  system  as  shall be  approved  by  Administrative   Agent), completed and signed by an Authorized Officer of the Company.           “GAAP”  means,  subject  to  the  limitations  on  the  application  thereof set  forth  in   Section 1.2,  United  States  generally  accepted  accounting  principles  in  effect  as  of  the  date  of   determination thereof.          “GIG  Partnership  Project”  means  the  projects  identified  on  Schedule  6.6(g)  in   connection with the strategic partnership between Holding and Green Investment Group Limited.                                          -31-                                             105376510     

 

           “Governmental  Authority”  means  any  federal,  state,  municipal,  national  or  other   government,  governmental  department,  commission,  board,  bureau,  court,  agency  or   instrumentality,  political  subdivision  or  any  entity  or  officer  thereof  exercising  executive,   legislative,  judicial,  taxing,  regulatory  or  administrative  functions  of  any  government  or  any   court, in each case whether associated with a state of the United States, the United States, or a   foreign entity or government.          “Governmental  Authorization”  means  any  permit,  license,  authorization,  plan,  directive, consent order or consent decree of or from any Governmental Authority.         “Grantor” as defined in the Pledge and Security Agreement.         “Guaranteed Obligations” as defined in Section 7.1.          “Guarantor”  means  Holding  and  each  Domestic  Subsidiary  of  Company  (other than   each  Excluded  Subsidiary,  Exempt  Subsidiary,  Development  Subsidiary  and  Unrestricted   Subsidiary): provided that Company may determine, in its sole discretion, to cause any Exempt   Subsidiary  to  become  a  Guarantor  by  causing  such  Subsidiary  to satisfy  the  requirements  of   Section 5.9.          “Guarantor Subsidiary” means each Guarantor other than Holding.          “Guaranty” means the guaranty of each Guarantor set forth in Section 7.          “Guaranty Indebtedness” means with respect to all Indebtedness of the type identified   in clauses (i) through (iv) of the definition of Indebtedness, to  the  extent  such Indebtedness  is   owed to any Person other than Holding or any Subsidiary of Company (x) the direct or indirect   guaranty,  endorsement  (otherwise  than  for  collection  or  deposit  in  the  ordinary  course  of   business), co-making, discounting with recourse or sale with recourse by Company or any of its   Restricted  Subsidiaries  of  such  Indebtedness  and  (y) any  obligation  of  Company  or  any  of  its   Restricted Subsidiaries the primary  purpose  or  intent  of  which is  to  provide  assurance  to  an   obligee with respect to such Indebtedness that the obligation of the obligor thereof will be paid or   discharged, or any agreement relating thereto will be complied with, or the holders thereof will   be protected (in whole or in part) against loss in respect thereof.          “Hazardous Materials” means any explosive, radioactive, hazardous or toxic chemical,   material or substance, or other pollutants, including petroleum or petroleum distillates, asbestos   or  asbestos-containing  materials,  polychlorinated  biphenyls,  radon  gas,  infectious  or  medical   wastes prohibited, limited or regulated pursuant to any Environmental Law.          “Hedge  Agreements”  means  all  interest  rate  or  currency  swaps,  caps  or  collar   agreements, foreign exchange agreements, commodity contracts or similar arrangements entered   into by Company or its Subsidiaries providing for protection against fluctuations in interest rates,  currency  exchange  rates,  commodity  prices  or  the  exchange  of  nominal  interest  obligations,  either generally or under specific contingencies, including any Commodities Agreements.                                          -32-                                             105376510     

 

           “Highest Lawful Rate” means the maximum lawful interest rate, if any, that at any time  or from time to time may be contracted for, charged, or received under the laws applicable to any  Lender which are presently in effect or, to the extent allowed by law, under such applicable laws  which may hereafter be in effect and which allow a higher maximum nonusurious interest rate  than applicable laws now allow.         “Historical  Financial  Statements”  means  as  of  the  Amendment  and  Restatement  Effective  Date,  (i) the  audited  financial  statements  of  Holding  for  Fiscal  Years 2015,  2016  and 2017, the unaudited financial statements of Company for Fiscal Year 2015, 2016 and 2017,  in  each  case  consisting  of  balance  sheet  and  the  related  consolidated  statements  of  income,  stockholders’  equity  and  cash  flows  for  such  Fiscal  Years,  and (ii) the  unaudited  financial  statements of Holding and Company as at the most recently ended Fiscal Quarter (if any) ending  after  the  date  of  the  most  recent  financial  statements  referenced  in  clause (i)  hereof  and  more  than forty-five (45) days prior to the Amendment and Restatement Effective Date, consisting of a  balance sheet and the related consolidated statements of income, stockholders’ equity and cash  flows for the three-, six- or nine-month period, as applicable, ending on such date.         “HMT” as defined in the definition of “Sanction(s)”         “Holding” as defined in the preamble hereto.         “Holding Capital Contribution” means (i) any cash capital contribution or loan made to  Company  by  Holding  on  or  after  the  Closing  Date  and  (ii) in  connection  with  any  Permitted  Acquisition  or  Investment,  any  issuance  by  Holding  of  its  Capital  Stock  as  consideration  in  whole or part therefor.         “Holding  Pledge  Agreement”  means  the  Pledge  Agreement  executed  by  Holding  in  favor  of  the  Collateral  Agent  on  the  Closing  Date,  as  amended, restated,  supplemented  or  otherwise modified from time to time.           “Honor Date” as defined in Section 2.4(c)(i).          “Immaterial  Restricted  Subsidiary”  means  any  Restricted  Subsidiary  hereafter   acquired  or  formed  which,  on  a  consolidated  basis  for  Company  and  all  of  its  Restricted   Subsidiaries,  (i) for  the  most  recent  Fiscal  Year  accounted  for  less  than 3.00%  of  the   Consolidated Adjusted EBITDA of Company and its Restricted Subsidiaries, or (ii) as at the end   of such Fiscal Year, had assets with a net book value of less than 3.00 % of the Total Tangible   Assets of Company and its Restricted Subsidiaries.          “Impacted Loans” as defined in Section 2.18(a)(i).          “Increased Amount Date” as defined in Section 2.24(a).          “Increased-Cost Lenders” as defined in Section 2.23.          “Indebtedness”,  as  applied  to  any  Person,  means,  without  duplication,  (i) all   indebtedness for borrowed money; (ii) that portion of obligations with respect to Capital Leases   that is properly classified as a liability on a balance sheet in conformity with GAAP; (iii) notes                                        -33-                                             105376510     

 

     payable  and  drafts  accepted  representing  extensions  of  credit  whether  or  not  representing   obligations  for  borrowed  money;  (iv) any  obligation  owed  for  all  or  any  part  of  the  deferred   purchase price of property or services (excluding trade payables incurred in the ordinary course   of  business,  having  a  term  of  less  than twelve  (12) months  and payable  in  accordance  with   customary trade practices), which purchase price is due more than six (6) months from the date  of incurrence of the obligation in respect thereof; (v) all Indebtedness secured by any Lien on  any  property  or  asset  owned  or  held  by  that  Person  regardless  of  whether  the  Indebtedness  secured thereby shall have been assumed by that Person or is nonrecourse to the credit of that  Person; (vi) the face amount of any letter of credit issued for the account of that Person or as to  which that Person is otherwise liable for reimbursement of drawings; (vii) the direct or indirect  guaranty,  endorsement  (otherwise  than  for  collection  or  deposit  in  the  ordinary  course  of  business),  co-making,  discounting  with  recourse  or  sale  with  recourse  by  such  Person  of  the  obligation of another; (viii) any obligation of such Person the primary purpose or intent of which  is to provide assurance to an obligee that the obligation of the obligor thereof will be paid or  discharged, or any agreement relating thereto will be complied with, or the holders thereof will  be protected (in whole or in part) against loss in respect thereof; (ix) any liability of such Person  for  an  obligation  of  another  through  any  agreement  (contingent or  otherwise)  (a) to  purchase,  repurchase or otherwise acquire such obligation or any security therefor, or to provide funds for  the  payment  or  discharge  of  such  obligation  (whether  in  the  form  of  loans,  advances,  stock  purchases,  capital  contributions  or  otherwise)  or  (b) to  maintain  the  solvency  or  any  balance  sheet  item,  level  of  income  or  financial  condition  of  another  if,  in  the  case  of  any  agreement  described under subclauses (a) or (b) of this clause (ix), the primary purpose or intent thereof is  as  described  in  clause (viii)  above;  and  (x) all  obligations  of  such  Person  in  respect  of  any  exchange  traded  or  over  the  counter  derivative  transaction,  including,  without  limitation,  any  Interest  Rate  Agreement  and  Currency  Agreement  and  Commodities Agreements,  whether  entered into for hedging or speculative purposes; provided, in no event shall obligations under   any Interest Rate Agreement and any Currency Agreement be deemed “Indebtedness” for any   purpose under Section 6.7.          “Indemnified Liabilities” means, collectively, any and all liabilities, obligations, losses,   damages  (including  natural  resource  damages),  penalties,  claims  (including  Environmental   Claims),  reasonable  out-of-pocket  costs  (including  the  costs  of  any  investigation,  study,   sampling, testing, abatement, cleanup, removal, remediation or other response action necessary   to  remove,  remediate,  clean  up  or  abate  any  Release  or  threatened  Release  of  Hazardous   Materials), and reasonable out-of-pocket expenses of any kind or nature whatsoever (including   the  reasonable  fees  and  disbursements  of  counsel  for  Indemnitees  in  connection  with  any   investigative,  administrative  or  judicial  proceeding  commenced or  threatened  by  any  Person,   whether or not any such Indemnitee shall be designated as a party or a potential party thereto,   and any fees or expenses incurred by Indemnitees in enforcing this indemnity), whether direct,   indirect or consequential and whether based on any federal, state or foreign laws, statutes, rules   or  regulations (including  securities  and  commercial  laws,  statutes, rules or regulations and   Environmental Laws), on common law or equitable cause or on contract or otherwise, that may   be imposed on or incurred by any such Indemnitee, in any manner relating to or arising out of   (i) this  Agreement  or  the  other  Credit  Documents  or  the  transactions  contemplated  hereby  or   thereby (including the Lenders’ agreement to make the Credit Extensions or the use or intended   use of the proceeds thereof, or any enforcement of any of the Credit Documents (including any                                         -34-                                             105376510     

 

     sale of, collection from, or other realization upon any of the Collateral or the enforcement of the   Guaranty)); (ii) any Loan or Letter of Credit or the use or proposed use of the proceeds therefrom   (including  any  refusal  by  the  Issuing  Bank  to  honor  a  demand  for  payment  under  a  Letter  of   Credit if the documents presented in connection with such demand do not comply with the terms   of  such  Letter  of  Credit);  (iii) any  actual  or  prospective  claim,  litigation,  investigation  or   proceeding relating to any of the foregoing, whether based on contract, tort or any other theory,   whether brought by a third party or by Company or any other Credit Party, and regardless of   whether any Indemnitee is a party thereto, IN ALL CASES, WHETHER OR NOT CAUSED   BY  OR  ARISING,  IN  WHOLE  OR  IN  PART,  OUT  OF  THE  COMPARATIVE,   CONTRIBUTORY  OR  SOLE  NEGLIGENCE  OF  THE  INDEMNITEE  or  (iv) any   Environmental Claim, Environmental Liability or any actual or alleged presence or Release or  threatened  Release  of  Hazardous  Materials  related  in  any  way  to  Company  or  any  of  its  Subsidiaries, including those arising from any past or present activity, operation, land ownership,  or practice of Company or any of its Subsidiaries.         “Indemnitee” as defined in Section 10.3(a).          “Initial  Term  Loans” means the “Term Loans” (as defined in the First Amended and   Restated Credit Agreement) outstanding immediately prior to the Amendment and Restatement   Effective Date.           “Installment” as defined in Section 2.12.          “Installment Date” as defined in Section 2.12.          “Insurance  Premium  Financers”  means  Persons  who  are  non-Affiliates  of  Company   that  advance  insurance  premiums  for  Company  and  its  Subsidiaries  pursuant  to  Insurance   Premium Financing Arrangements.          “Insurance Premium Financing Arrangements” means, collectively, such agreements  with  Insurance  Premium  Financers  pursuant  to  which  such  Insurance  Premium  Financers  advance  insurance  premiums  for  Company  and  its  Subsidiaries.   Such  Insurance  Premium  Financing Arrangements (i) shall provide for the benefit of such Insurance Premium Financers a  security interest in no property of Company or any of its Restricted Subsidiaries other than gross  unearned premiums for the insurance policies and related rights, (ii) shall not purport to prohibit  any portion of the Liens created in favor of Collateral Agent (for the benefit of Secured Parties)  pursuant to the Collateral Documents, and (iii) shall not contain any provision or contemplate  any  transaction  prohibited  by  this  Agreement  and,  to  the  extent  not  outstanding  on  the  Amendment  and  Restatement  Effective  Date,  shall  otherwise  be  in  form  and  substance  reasonably satisfactory to Administrative Agent.         “Intercompany Master Note” means the Amended and Restated Intercompany Master  Note executed by Holding, Company and each of its Restricted Subsidiaries party thereto on the  Amendment and Restatement Effective Date, as amended, restated, supplemented or otherwise  modified from time to time.                                          -35-                                             105376510     

 

           “Intercompany  Note”  means  a  promissory  note  evidencing  Indebtedness  of  Holding,   Company or a Restricted Subsidiary which (a) to the extent the Indebtedness evidenced thereby   is  owed  to  any  Credit  Party,  is  pledged  pursuant  to  the  Collateral  Documents,  and  (b)  to  the   extent  the  Indebtedness  evidenced  thereby  is  owed  by  a  Subsidiary  of  Company,  is  senior   Indebtedness of such Restricted Subsidiary (except to the extent that requiring such Indebtedness   to be senior would breach a Contractual  Obligation  binding  on  such  Guarantor  Subsidiary)  except that any such Indebtedness owed by any Credit Party to any Restricted Subsidiary which  is not a Credit Party shall be unsecured and subordinated in right of payment to the payment in  full  of  the  Obligations  pursuant  to  the  terms  of  such  note.   For  the  avoidance  of  doubt  such  promissory note may take the form of one or more individual notes or by a Person being party to  the Intercompany Master Note.          “Intercompany  Subordination  Agreement”  means  the  Amended  and  Restated  Intercompany  Subordination  Agreement  executed  by  Holding,  Company  and  each  of  its  Subsidiaries and Administrative Agent on the Amendment and Restatement Effective Date, as  amended, restated, supplemented or otherwise modified from time to time.         “Intercreditor  Agreement” means any intercreditor agreement executed in connection  with  any  transaction  requiring  such  agreement  to  be  executed  pursuant  to  the  terms  hereof,  among Administrative Agent, Company, the Guarantors and a Senior Representative or any other  party,  as  the  case  may  be,  substantially  on  terms  set  forth  on Exhibit L  (except  to  the  extent   otherwise reasonably agreed by Company and Administrative Agent) or otherwise on such terms   that  are  reasonably  satisfactory  to  Administrative  Agent,  in  each  case,  as  amended,  restated,   supplemented or otherwise modified (or replaced in connection with a Permitted Refinancing or   incurrence  of  Indebtedness  under Section 6.1)  from  time  to  time with the consent of   Administrative Agent (such consent not to be unreasonably withheld or delayed).          “Interest  Coverage  Ratio” means the ratio as of the last day of any Fiscal Quarter of   (i) Consolidated Adjusted EBITDA (excluding Consolidated Adjusted EBITDA of any Excluded   Project Subsidiary in the Development Stage) for the four-Fiscal Quarter period ending on such   date  to  (ii) Consolidated  Interest  Expense  (excluding  Consolidated  Interest  Expense  of  any   Excluded Project Subsidiary in the Development Stage) for such period.          “Interest Payment Date” means with respect to (i) any Base Rate Loan, each March 31,   June 30,  September 30  and  December 31  of  each  year,  commencing on  the  first  such  date  to   occur after the Amendment and Restatement Effective Date and the final maturity date of such   Loan; and (ii) any Eurodollar Rate Loan, the last day of each Interest Period applicable to such   Loan and the final maturity date of such Loan; provided, in the case of each Interest Period of   longer  than  three  months  “Interest  Payment  Date”  shall  also  include  each  date  that  is  three   months, or an integral multiple thereof, after the commencement of such Interest Period.          “Interest Period” means, in connection with a Eurodollar Rate Loan, an interest period   of one-, two-, three- or six-months (or twelve-months, if consented to by each affected Lender,   such  consent  not  to  be  unreasonably  withheld  by  any  such  Lender  if  such  interest  period  is   available to such Lender, and in each case subject to availability), as selected by Company in the   applicable Funding Notice or Conversion/Continuation Notice, (a) initially, commencing on the   Credit  Date  or  Conversion/Continuation  Date  thereof,  as  the  case  may  be;  and  (b) thereafter,                                        -36-                                             105376510     

 

     commencing on the day on which the immediately preceding Interest Period expires; provided   (1) if an Interest Period would otherwise expire on a day that is not a Business Day, such Interest   Period shall expire on the next succeeding Business Day unless no further Business Day occurs   in  such  month,  in  which  case  such  Interest  Period  shall  expire on  the  immediately  preceding   Business Day; (2) any Interest Period that begins on the last Business Day of a calendar month  (or on a day for which there is no numerically corresponding day in the calendar month at the  end of such Interest Period) shall, subject to clauses (3) and (4) of this definition, end on the last   Business Day of a calendar month; (3) no Interest Period with respect to any portion of Term   Loan  shall  extend  beyond  the  Term  Loan  Maturity  Date  applicable  to  such  Term  Loan,  and   (4) no Interest Period with respect to any portion of the Revolving Loans made by Revolving   Lenders shall extend beyond the Revolving Commitment Termination Date.          “Interest  Rate  Agreement”  means  any  interest  rate  swap  agreement,  interest  rate  cap   agreement,  interest  rate  collar agreement,  interest  rate  hedging  agreement  or  other  similar  agreement or arrangement, each of which is for the purpose of hedging the interest rate exposure  associated with Company’s and its Subsidiaries’ operations and not for speculative purposes.         “Interest Rate Determination Date” means, with respect to any Interest Period, the date   that is two (2) Business Days prior to the commencement of such Interest Period (or such other   day as is generally treated as the rate fixing day by market practice in such interbank market, as   determined by the Administrative Agent; provided that to the extent such market practice is not   administratively feasible for the Administrative Agent, such other day as otherwise reasonably   determined by the Administrative Agent).          “Internal Revenue Code” means the Internal Revenue Code of 1986, as amended to the   Amendment and Restatement Effective Date and from time to time thereafter, and any successor   statute.          “Investment” means (i) any direct or indirect purchase or other acquisition by Company   or any of its Restricted Subsidiaries of, or of a beneficial interest in, any of the Securities of any   other  Person  (other  than  Company  or  a  Guarantor  Subsidiary);  (ii) any  direct  or  indirect   redemption, retirement, purchase or other acquisition for value, by any Restricted Subsidiary or   Company from any Person (other than Company or any Guarantor Subsidiary), of any Capital   Stock  of  such  Person;  and  (iii) any  direct  or  indirect  loan,  advance  (other  than  advances  to   employees for moving, relocation, business, entertainment and travel expenses, drawing accounts   and similar expenditures in the ordinary course of business) or capital contribution by Company   or any of its Restricted Subsidiaries to any other Person (other than Company or any Guarantor   Subsidiary), including all Indebtedness and accounts receivable from that other Person but only   to the extent that the same are not current assets or did not arise from sales to that other Person in   the ordinary course of business.  The amount of any Investment shall be the original cost of such   Investment  plus  the  cost  of  all  additions  thereto,  without  any adjustments  for  increases  or   decreases in value, or write-ups, write-downs or write-offs with respect to such Investment less   any amount realized in respect of such Investment upon the sale, collection or return of capital   (not to exceed the original amount invested).          “IRB L/C” means any Letter of Credit providing credit support for an IRB, which may   be a so-called “direct pay” Letter of Credit.                                        -37-                                             105376510     

 

           “IRB” means industrial revenue bonds, solid waste disposal bonds or similar tax-exempt  bonds issued by or at the request of Company.         “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).         “Issuance Notice” means a notice substantially in the form of Exhibit A-3.          “Issuer  Documents”  means  with  respect  to  any  Letter of Credit, the Letter of Credit   Application,  and  any  other  document,  agreement  and  instrument  entered  into  by  any  Issuing   Bank and Company (or any Subsidiary) or in favor of such Issuing Bank and relating to such   Letter of Credit.          “Issuing  Bank”  means  with  respect  to  any  Letter  of  Credit,  any  Lender  which,  at  the   request  of  Company,  and  with  the  consent  of  Administrative  Agent  (not  to  be  unreasonably   withheld or delayed), agrees in such Lender’s sole discretion to become an Issuing Bank for the   purposes of issuing such Letter of Credit, together with its permitted successors and assigns in   such capacity.  As of the Amendment and Restatement Effective Date, the institutions listed on   Appendix B shall each be an Issuing Bank.          “Joinder Agreement” means an agreement substantially in the form of Exhibit J.          “Joint  Venture”  means  a  joint  venture,  partnership  or  other  similar  arrangement,  whether in partnership or other legal form.         “JPM  Currency  Rate” for a currency means, at the time of determination thereof, the  rate of exchange for the purchase of such currency with another currency in the London foreign  exchange market at or about 11:00 a.m. London time (or New York time, as applicable) on a  particular day as displayed by ICE Data Services as the “ask price”, or as displayed on such other  information service which publishes that rate of exchange from time to time in place of ICE Data  Services (or if such service ceases to be available, the equivalent of such amount in Dollars as  determined  by  JPMorgan  Chase  Bank,  N.A.  using  any  method  of  determination  it  deems  appropriate in its sole discretion).         “Latest  Maturity  Date”  means,  at  any  date  of  determination,  the  latest  maturity  or  expiration  date  applicable  to  any  Loan  or  Commitment  hereunder at  such  time,  including  the  latest maturity or expiration date of any Additional Term Loans.         “L/C  Advance”  means,  with  respect  to  each  Lender,  such  Lender’s  funding  of its   participation in any L/C Borrowing in accordance with its Pro Rata Share.  All L/C Advances   shall be denominated in Dollars.          “L/C  Borrowing”  means  an  extension  of  credit resulting  from  a  drawing  under  any   Letter  of  Credit  which  has  not  been  reimbursed  on  the  date  when  made  or  refinanced  as  a   Revolving Loan.  All L/C Borrowings shall be denominated in Dollars.                                         -38-                                             105376510     

 

           “L/C Obligation” means, as at any date of determination, the aggregate amount available   to  be  drawn  under  all  outstanding  Letters  of  Credit  plus  the  aggregate  of  all  Unreimbursed   Amount.   For  purposes  of  computing  the  amount  available  to  be  drawn  under  any  Letter  of   Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.7.    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.          “Lead Arranger” means each of MLPFS, JPMorgan Chase Bank, N.A., Crédit Agricole,   Citizens Bank, N.A., MUFG Union Bank, N.A. and Sumitomo Mitsui Banking Corporation, in   its capacity as joint lead arranger and bookrunner.         “Lender”  means  each  financial  institution  listed  on  the  signature  pages  hereto  as  a   Lender and any other Person that becomes a party hereto pursuant to an Assignment Agreement   or a Joinder Agreement pursuant to Section 2.24.          “Lender Counterparty” means each Person who is a Lender or any Affiliate of a Lender   at the time such Person entered into a Permitted Hedge Agreement, a Permitted Letter of Credit   or a Permitted Cash Management Agreement (including any Person who is a Lender (and any   Affiliate thereof) as of the Closing Date, First Amendment and Restatement Effective Date or   Amendment and Restatement Effective Date but subsequent to entering into a Permitted Hedge   Agreement, a Permitted Letter of Credit or a Permitted Cash Management Agreement ceases to   be  a  Lender)  including,  without  limitation,  each  such  Affiliate  that  enters  into  a  joinder   agreement with Collateral Agent.          “Letter of Credit” means a commercial or standby letter of credit (including IRB L/Cs)   issued or to be issued by an Issuing Bank pursuant to Section 2.4(a) of this Agreement.  Letters   of Credit may be issued in Dollars or in an Alternative Currency.          “Letter of Credit Application” means an application and agreement for the issuance or   amendment of a Letter of Credit in the form from time to time in use by an Issuing Bank.         “Letter of Credit Commitment” means (a) as to each Issuing Bank party hereto as of  the Amendment and Restatement Effective Date, the commitment amount set forth opposite its  name in Appendix B, and (b) as to each Issuing Bank that becomes an Issuing Bank hereunder  after the Amendment and Restatement Effective Date, the commitment amount of such Issuing  Bank set forth in the instrument under which such Issuing Bank becomes an Issuing Bank.  The  Letter  of  Credit  Commitment  of  any  Issuing  Bank  may  be  changed by  written  agreement  between the Company and such Issuing Bank, without the consent of any other party hereto.         “Letter  of  Credit  Expiration  Date” means the day that is seven (7) days prior to the  Revolving  Commitment  Termination Date  (or,  if  such  day  is  not  a  Business  Day,  the  next  preceding Business Day).         “Letter of Credit Fees” as defined in Section 2.11(a)(ii).                                         -39-                                             105376510     

 

           “Leverage  Ratio”  means  the  ratio  as  of  the  last  day  of  any  Fiscal  Quarter  of   (i) Consolidated Adjusted Net Debt (excluding Indebtedness of any Excluded Project Subsidiary   in  the  Development  Stage)  as  of  such  day  to  (ii) Consolidated  Adjusted  EBITDA  (excluding   Consolidated Adjusted EBITDA of any Excluded Project Subsidiary in the Development Stage)   for the four-Fiscal Quarter period ending on such date.          “LIBOR” has the meaning specified in the definition of “LIBOR Screen Rate”.          “LIBOR  Quoted  Currency”  means  each  of  the  following  currencies:  Dollars;  Euro;   Sterling; Yen; and Swiss Franc; in each case as long as there is a published LIBOR rate with   respect thereto.          “LIBOR Screen Rate” means the rate per annum equal to the London Interbank Offered  Rate (“LIBOR”) or a comparable or successor rate, which rate is approved by the Administrative   Agent, as published on the applicable Bloomberg screen page or other applicable screen page the   Administrative Agent reasonably designates to determine LIBOR (or such other commercially   available  source  providing  such quotations  as  may  be  reasonably  designated  by  the   Administrative Agent) from time to time).            “LIBOR Successor Rate” as defined in Section 2.18(a)(ii).          “LIBOR Successor Rate Conforming Changes” means, with respect to any proposed   LIBOR Successor Rate, any conforming changes to the definition of Base Rate, Interest Period,   timing  and  frequency  of  determining  rates  and  making  payments  of  interest  and  other   administrative matters as may be appropriate, in the discretion of the Administrative Agent, to   reflect the adoption of such LIBOR Successor Rate and to permit the administration thereof by   the  Administrative  Agent  in  a  manner  substantially  consistent  with  market  practice  (or,  if  the   Administrative  Agent  determines  that  adoption  of  any  portion  of such market practice is not   administratively  feasible  or  that  no  market  practice  for  the  administration  of  such  LIBOR   Successor  Rate  exists,  in  such  other  manner  of  administration  as  the  Administrative  Agent   determines in consultation with the Company).          “Lien” means any lien, mortgage, pledge, collateral assignment, security interest, charge   or  encumbrance  of  any  kind  (including  any  agreement  to  give  any  of  the  foregoing,  any   conditional sale or other title retention agreement, and any lease in the nature thereof) and any   option, trust or other preferential arrangement having the practical effect of any of the foregoing.          “Limited  Condition  Transaction”  means  any  Investment,  including  any  Permitted   Acquisition, by one or more of the Company or the Restricted Subsidiaries, (a) that is permitted   hereunder, (b) that is financed in whole or in part with the proceeds of a substantially concurrent   advance of Additional Term Loans and (c) the consummation of which is not conditioned on the   availability of, or on obtaining, third party financing; provided, that such Investment shall not   constitute  a  Limited  Condition  Transaction  if  the  consummation of  such  Investment  shall  not   have occurred on or prior to the date that is 180 days following the execution of the applicable   acquisition or other agreement applicable to such Investment.                                          -40-                                             105376510     

 

           “Limited Recourse Debt” means, with respect to any Restricted Subsidiary of Company,   Indebtedness of such Subsidiary with respect to which the recourse of the holder or obligee of   such Indebtedness is limited to (i) assets associated with the Project (which in any event shall not   include assets held by any Guarantor Subsidiary other than a Guarantor Subsidiary, if any, whose   sole business is the ownership and/or operation of such Project and substantially all of whose   assets  are  associated  with  such  Project)  in  respect  of  which  such  Indebtedness  was  incurred   and/or (ii) such Subsidiary or the equity interests in such Subsidiary, but in the case of clause (ii)   only  if  such  Subsidiary’s  sole  business  is  the  ownership  and/or  operation  of  such  Project  and   substantially all of such Subsidiary’s assets are associated with such Project. For purposes of this   Agreement,  Indebtedness  of  a  Restricted  Subsidiary  of  Company  shall  not  fail  to  be  Limited   Recourse Debt solely by virtue of the fact that the holders of such Limited Recourse Debt have   recourse  to  Holding,  Company  or  another  Subsidiary  of  Company  pursuant  to  a  contingent   obligation supporting such Limited Recourse Debt or a Performance Guaranty, so long as such   contingent obligation or Performance Guaranty is unsecured and permitted under Section 6.1.          “Loan” means a Term Loan, a Revolving Loan and a Swing Line Loan.          “London  Banking  Day”  means  any  day  on  which  dealings  in  Dollar  deposits  are   conducted by and between banks in the London interbank eurodollar market.          “Margin  Stock” as defined in Regulation U of the Board of Governors of the Federal   Reserve System as in effect from time to time.          “Material  Adverse  Effect”  means  any  material  adverse  effect  on  (i) the  business,   operations,  assets,  liabilities  or  financial  condition  of  Holding  and  its  Subsidiaries  taken  as  a   whole;  (ii) the  ability  of  the  Credit  Parties  (taken  as  a  whole) to perform their respective   Obligations; or (iii) the rights, remedies and benefits available to, or conferred upon, the Secured   Parties under any Credit Document.          “Material Real Estate Asset” means the Restatement Date Material Real Estate Assets   and any fee-owned Real Estate Asset acquired after the Amendment and Restatement Effective  Date  having  a  fair  market  value  (as  determined  in  good  faith  by  Company)  in  excess  of  $25,000,000 as of the date of the acquisition thereof; provided, that fee-owned Real Estate that  would otherwise be included in such definition may be excluded therefrom if, and for so long as  and to the extent that the Administrative Agent and the Company reasonably agree in writing  that  the  cost  or  other  burdens  of  including  such  Real  Estate  Asset  as  Collateral  would  be  excessive in view of the benefits to be obtained by the Lenders therefrom.         “Material  Restricted  Subsidiary”  means  any  Restricted  Subsidiary  now  existing  or  hereafter acquired or formed which, on a consolidated basis for Company and all of its Restricted  Subsidiaries,  (i) for  the  most  recent  Fiscal  Year  accounted  for  more  than 5.0%  of  the  Consolidated Adjusted EBITDA of Company and its Restricted Subsidiaries, or (ii) as at the end  of such Fiscal Year, had assets with a net book value of more than 5.0% of the Total Tangible  Assets of Company and its Restricted Subsidiaries.  Material Restricted Subsidiaries as of the  Amendment and Restatement Effective Date are listed on Schedule 1.1(e).                                          -41-                                             105376510     

 

           “Maximum Incremental Facilities Amount” means, at any date of determination, with   respect  to  the  contemplated  incurrence  of  Additional  Term  Loans  or  Additional  Revolving   Commitments  pursuant  to  Section 2.24,  the  greater  of  (a)(x)  $500,000,000  minus  (y)  the   aggregate  principal  amount  of  Additional  Term  Loans  or  Additional  Revolving  Commitments   incurred pursuant to Section 2.24 prior to such date and (b) a principal amount so long as, after   giving effect to the incurrence of such contemplated Additional Term Loans and/or Additional  Revolving  Commitments,  as  the  case  may  be,  the  Leverage  Ratio  shall  be  less  than  or  equal  to 2.75:1.00,  determined  on  a  Pro  Forma  Basis  as  of  the  most  recently  completed  four  Fiscal  Quarter  period  for  which  financial  statements  and  certificates  were  required  to  be  delivered  under Section 5.1(a) or (b), as the case may be.          “Minimum Collateral Amount” means, at any time, (i) with respect to Cash Collateral   consisting of Cash or Deposit Account balances, an amount equal to the Fronting Exposure of   any  Issuing  Bank  with  respect  to  Letters  of  Credit  issued  and  outstanding  at  such  time  and   (ii) otherwise, an amount determined by Administrative Agent and Issuing Banks in their sole   discretion.          “MLPFS” means Merrill Lynch, Pierce, Fenner & Smith Incorporated.          “Moody’s” means Moody’s Investor Services, Inc. and any successor thereto.          “Mortgage”  means  a  mortgage  or  deed  of  trust  or  deed  to  secure  debt  in  a form   reasonably satisfactory to the Administrative Agent and Company and as it may be otherwise   amended, supplemented or otherwise modified from time to time.           “Mortgage Amendment” as defined in Section 3.1(m).          “Multiemployer  Plan”  means  any  employee  benefit  plan  of  the  type  described  in   Section 4001(a)(3) of ERISA, to which Company or any ERISA Affiliate makes or is obligated   to make contributions, or during the preceding five plan years, has made or been obligated to   make contributions.          "Multiple  Employer  Plan"  means  a  “single  employer  plan”  as  defined  in  Section   4001(a)(15) of ERISA, which has two or more contributing sponsors (including Company or any   ERISA Affiliate) at least two of whom are not under common control, as such a plan is described   in Section 4064 of ERISA.          “NAIC”  means  The  National  Association  of  Insurance  Commissioners,  and  any   successor thereto.          “Net Asset Sale Proceeds” means, with respect to any Asset Sale, an amount equal to:    (i) Cash payments (including any Cash received by way of deferred payment pursuant to, or by   any  subsequent  monetization  of, a  note  receivable  or  otherwise,  but  only  as  and  when  so  received,  including  without  limitation,  as  a  result  of  any  subsequent  monetization  of  any  Designated Non-Cash Consideration) received by Company or any of its Restricted Subsidiaries   from  such  Asset  Sale,  minus  (ii) any  bona  fide  direct  costs  incurred  in  connection  with  such   Asset  Sale  (or  if  such  costs  have  not  then  been  incurred  or  invoiced,  Company’s  good  faith                                         -42-                                             105376510     

 

     estimate thereof), including (a) income or gains Taxes (including Tax distributions) payable or  reasonably estimated to be payable by the seller as a result of any gain recognized in connection  with such Asset Sale, (b) payment of the outstanding principal amount of, premium or penalty, if  any,  and interest  on  any  Indebtedness  (other  than  the  Loans)  that is secured  by  a Lien  on the  stock or assets in question and that is required to be repaid under the terms thereof as a result of  such  Asset  Sale,  (c) other  Taxes  (including  Tax  distributions) actually  payable  or  reasonably  estimated to be payable upon or in connection with the closing of such Asset Sale (including any  transfer Taxes or Taxes on gross receipts), (d) any Taxes payable or reasonably estimated to be  payable in connection with any transactions effected (or deemed effected) to make prepayments  (e.g.,  Taxes  payable  upon  repatriation  of  funds  from  Subsidiaries),  (e) actual,  reasonable  and  documented  out-of-pocket  fees  and  expenses  (including  legal  fees,  fees  to  advisors  and  severance  costs  that  are  due  (pursuant  to  a  Contractual  Obligation,  or  pursuant  to  a  written  employment  policy  applicable  to  terminated  employees  generally,  of  Company  or  any  of  its  Restricted Subsidiaries in effect prior to such Asset Sale or pursuant  to  applicable  law)  and  payable to employees of Company and its Restricted Subsidiaries that are terminated as a result  thereof) paid to Persons other than Company and its Restricted Subsidiaries and their respective  Affiliates in connection with such Asset Sale (including fees necessary to obtain any required  consents  of  such  Persons  to  such  Asset  Sale),  and  (f) a  reasonable  reserve  for  any  indemnification  payments  (fixed or  contingent)  attributable  to seller’s  indemnities  and  representations  and  warranties  to  purchaser  in  respect  of  such Asset  Sale  undertaken  by  Company  or  any  of  its  Restricted Subsidiaries  in  connection  with  such  Asset  Sale;  provided,   however, that Net Asset Sale Proceeds shall be reduced in an amount  equal to the amount of   proceeds  Restricted  Subsidiaries  of  Company  are  legally  bound  or  required,  pursuant  to   agreements in effect on the Amendment and Restatement Effective Date, or which were entered   into  after  the  Amendment  and  Restatement  Effective  Date  with  respect  to  the  financing  or   acquisition of a Project to use for prepayment thereunder (including any premium, penalty and   interest due in connection with such prepayment).          “Net  Cash  Proceeds”  means,  in  connection  with  any  incurrence  or  issuance  of   Indebtedness, the cash proceeds received from any such issuance or incurrence, net of attorneys’   fees, investment banking fees, accountants’ fees, underwriting discounts and commissions and   other bona fide fees and expenses actually incurred in connection therewith; provided that if any   such commissions, costs or expenses have not been incurred or invoiced at such time, Company   may deduct its good faith estimate thereof to the extent subsequently paid.          “Net  Insurance/Condemnation  Proceeds”  means  an  amount  equal  to:   (i) any  Cash   payments or proceeds received by Company or any of its Restricted Subsidiaries (a) under any   casualty  insurance  policy  in  respect  of  a  covered  loss  thereunder  (other  than  payments  for   business interruption) occurring after the Amendment and Restatement Effective Date or (b) as a   result of the taking of any assets of Company or any of its Restricted Subsidiaries by any Person   pursuant to the power of eminent domain, condemnation or otherwise, or pursuant to a sale of   any such assets to a purchaser with such power under threat of such a taking, minus (ii) (a) any   actual  and  reasonable  costs  incurred  by  Company  or  any  of  its  Restricted  Subsidiaries  in   connection with the adjustment or settlement of any claims of Company or such Subsidiary in   respect  thereof,  (b) any  bona  fide  direct  costs  incurred  in  connection  with  any  adjustment  or   settlement or any such sale as referred to in clause (i)(b) of this definition, including Taxes (or                                         -43-                                             105376510     

 

     Tax  distributions)  payable  or  reasonably  estimated  to  be  payable  as  a  result  of  any  gain   recognized in connection therewith, (c) any Taxes payable or reasonably estimated to be payable   in  connection  with  any transactions  effected  (or  deemed  effected)  to  make  prepayments  (e.g.,  Taxes payable upon repatriation of funds from Subsidiaries) and (d) any actual, reasonable and  documented  out-of-pocket  fees  and  expenses  (including  legal  fees,  fees  to  advisors  and  severance  costs  that  are  due  (pursuant  to  a  Contractual  Obligation,  or  pursuant  to  a  written  employment  policy  applicable  to  terminated  employees  generally,  of  Company  or  any  of  its  Restricted Subsidiaries in effect prior to such event or pursuant to applicable law) and payable to  employees  of  Company  and  its  Restricted  Subsidiaries that  are  terminated  as  a  result  thereof)  paid to Persons other than Company and its Restricted Subsidiaries and their respective Affiliates  in connection with such event; provided that if any costs, fees or expenses that may be deducted   under this clause (ii) have not been incurred or invoiced at the time of any determination of Net   Insurance/Condemnation Proceeds, Company may deduct its good faith estimate thereof to the   extent  actually  subsequently  so  paid;  provided,  however,  that  Net  Insurance/Condemnation   Proceeds shall be reduced in an amount equal to the amount of proceeds Restricted Subsidiaries   of Company are legally bound or required, pursuant to agreements in effect on the Amendment   and  Restatement  Effective  Date,  or  which  were  entered  into  after  the  Amendment  and   Restatement Effective Date with respect to the financing or acquisition of a Project to use for   prepayment thereunder (including any premium, penalty and interest due in connection with such   prepayment).          “New Senior Notes” means any senior unsecured debt securities issued by Holding after  the Amendment and Restatement Effective Date.         “New  Senior  Notes  Documents”  means  any  New  Senior  Notes,  the  Indentures  in  connection therewith and all other documents executed and delivered with respect to any New  Senior Notes or the Indentures in connection therewith.         “Non-Consenting Lender” as defined in Section 2.23.          “Non-Defaulting  Lender”  means,  at  any  time,  any  Lender  that  is  not  a  Defaulting   Lender at such time.          “Non-Excluded Taxes” means (a) Taxes, other than Excluded Taxes, imposed on or with   respect to any payment made by or on account of any obligation of Company under any Credit   Document and (b) to the extent not otherwise described in (a), Other Taxes.          “Non-Guarantor Subsidiary” means any Restricted Subsidiary that is not a Guarantor   Subsidiary.          “Non-LIBOR  Quoted  Currency”  means  any  currency  other  than  a  LIBOR  Quoted   Currency.          “Non-US Agent” means (a) each Agent that is a foreign person as defined in Treasury   Regulations section 1.1441-1(c)(2) or (b) each Agent that is a wholly-owned domestic entity that   is  disregarded  for  United  States  federal  tax  purposes  under  Treasury  Regulations  section                                         -44-                                             105376510     

 

     301.7701-2(c)(2) as an entity separate from its owner and whose single owner is a foreign person   within the meaning of Treasury Regulations section 1.1441-1(c)(2).          “Non-US Lender” means (a) each Lender and each Issuing Bank that is a foreign person   as defined in Treasury Regulations section 1.1441-1(c)(2) or (b) each Lender and each Issuing   Bank  that  is  a  wholly-owned  domestic  entity  that  is  disregarded  for  United  States  federal  tax   purposes  under  Treasury  Regulations  section 301.7701-2(c)(2)  as  an  entity  separate  from  its   owner and whose single owner is a foreign person within the meaning of Treasury Regulations   section 1.1441-1(c)(2).          “Note” means a Term Loan Note, a Revolving Loan Note or a Swing Line Note.          “Notice”  means  a  Funding  Notice,  an  Issuance  Notice,  or  a  Conversion/Continuation   Notice.          “Obligations” means all obligations of every nature of each Credit Party from time to   time  owed  to  the  Agents  (including  former  Agents),  the  Lenders or  any  of  them,  the  Issuing   Banks  and  Lender  Counterparties  under  any  Credit  Document,  Permitted  Hedge  Agreement,   Permitted  Letter  of  Credit  or  Permitted  Cash  Management  Agreement  (including,  without   limitation,  with  respect  to  a  Permitted  Hedge  Agreement,  a  Permitted  Letter  of  Credit  or   Permitted Cash Management Agreement, obligations owed thereunder to any person who was a   Lender or an Affiliate of a Lender at the time such Permitted Hedge Agreement, Permitted Letter   of Credit or Permitted Cash Management Agreement was entered into), whether for principal,   interest (including interest which, but for the filing of a petition in bankruptcy with respect to   such  Credit  Party,  would  have  accrued  on  any  Obligation,  whether or not a claim is allowed   against such Credit Party for such interest in the related bankruptcy proceeding), reimbursement   of amounts drawn under Letters of Credit, payments for early termination of Permitted Hedge   Agreements, fees, expenses, indemnification or otherwise; provided that the Obligations of any   Guarantor  Subsidiary  shall  exclude  any  Excluded  Swap  Obligations  with  respect  to  such   Guarantor Subsidiary.          “Obligee Guarantor” as defined in Section 7.7.          “OFAC” means the Office of Foreign Assets Control of the United States Department of   the Treasury.          “Original Credit Agreement” means that certain Credit and Guaranty Agreement, dated   as of March 28, 2012 (as further amended, supplemented or otherwise  modified  from  time  to   time  prior  to  the  First  Amendment  and  Restatement  Effective  Date),  by  and  among  the   Company, Holding, the Guarantors party thereto, the Lenders party thereto from time to time, the  Administrative Agent, Collateral Agent and Issuing Bank and the other agents party thereto,         “Original  Obligations”  means  the  Obligations  as  defined  and  incurred  under  the  Original  Credit  Agreement  that  remain  unpaid  and  outstanding  as  of  the  Amendment  and  Restatement Effective Date.                                          -45-                                             105376510     

 

           “Organizational Documents” means (i) with respect to any corporation, its certificate or   articles  of  incorporation  or  organization,  as  amended,  and  its by-laws,  as  amended,  (ii) with   respect  to  any  limited  partnership,  its  certificate  of  limited partnership,  as  amended,  and  its   partnership agreement, as amended, (iii) with respect to any general partnership, its partnership   agreement,  as  amended,  and  (iv) with  respect  to  any  limited  liability  company,  its  articles  of   organization, as amended, and its operating agreement, as amended.  In the event any term or   condition  of  this  Agreement  or  any  other  Credit  Document  requires  any  Organizational   Document to be certified by a secretary of state or similar governmental official, the reference to  any such “Organizational Document” shall only be to a document of a type customarily certified  by such governmental official.         “Other  Connection  Taxes” means, with respect to any Recipient, Taxes imposed as a  result of a present or former connection between such Recipient and the jurisdiction imposing  such  Tax  (other  than  connections  arising  from  such  Recipient  having  executed,  delivered,   become  a  party  to,  performed  its  obligations  under,  received  payments  under,  received  or  perfected a security interest under, engaged in any other transaction pursuant to or enforced any  Credit Document, or sold or assigned an interest in any Loan or Credit Document).         “Other Taxes” as defined in Section 2.20(c).          “Outstanding  Amount”  means  (i)  with  respect  to  Loans  on  any  date,  the  Dollar   Equivalent amount of the aggregate outstanding principal amount thereof after giving effect to   any borrowings and prepayments or repayments of such Loans occurring on such date; (ii) with   respect  to  Swing  Line  Loans  on  any  date,  the  aggregate  outstanding  principal  amount  thereof   after giving effect to any borrowings and prepayments or repayments of such Swing Line Loans   occurring  on  such  date;  and  (iii)  with  respect  to  any  L/C  Obligations  on  any  date,  the  Dollar   Equivalent amount of the aggregate outstanding amount of such L/C Obligations on such date   after giving effect to any Credit Extension occurring on such date and any other changes in the   aggregate  amount  of  the  L/C  Obligations  as  of  such  date,  including  as  a  result  of  any   reimbursements by Company of Unreimbursed Amounts.          “Overnight  Rate” means, for any day, (a) with respect to any amount denominated in   Dollars, the greater of (i) the Federal Funds Effective Rate and (ii) an overnight rate determined   by Administrative Agent, the Issuing Banks, or the Swing Line Lender, as the case may be, in   accordance with banking industry rules on interbank compensation, and (b) with respect to any   amount  denominated  in  an  Alternative  Currency,  the  rate  of  interest per annum at which   overnight deposits in the applicable Alternative Currency, in an amount approximately equal to   the amount with respect to which such rate is being determined, would be offered for such day   by a branch or Affiliate of Bank of America in the applicable offshore interbank market for such   currency to major banks in such interbank market.          “Participant Register” as defined in Section 10.6(f).          “Participating Member State” means each state as described in any EMU Legislation.          “PBGC” means the Pension Benefit Guaranty Corporation or any successor thereto.                                         -46-                                             105376510     

 

           “Pension Plan” means any employee benefit plan (including a Multiple Employer Plan,  but not including a Multiemployer Plan) which is subject to Title IV of ERISA, Section 412 of  the Internal Revenue Code or Section 302 of ERISA which is or was sponsored, maintained or  contributed to by, or required to be contributed to by, Company, any of its Subsidiaries or any of  their respective ERISA Affiliates.         “Performance Guaranty” means any performance guaranty agreement entered into by  Company or any of its Subsidiaries under which Company or any such Subsidiary (i) guarantees  the  performance  of  a  Subsidiary  of  Company  under  a  principal  lease,  service,  construction  or  operating  agreement  relating  to  a  Project  or  (ii) is  otherwise obligated  to  provide  support  in  connection with Projects.         “Permitted  Acquisition”  means  any  acquisition  by  Company  or  any  of  its  Restricted  Subsidiaries, whether by purchase, merger or otherwise, of all or substantially all of the assets of  or a business line or unit or a division of, any Person, or all or a majority of the Capital Stock of  any Person (or the acquisition of any additional Capital Stock of a Person which is a Subsidiary  of Company (but not then a wholly-owned direct or indirect Subsidiary)); provided that,                      (i)   immediately prior to, and after giving effect thereto, no Default or         Event of Default shall have occurred and be continuing or would result therefrom;                      (ii)  all transactions in connection therewith shall be consummated, in         all material respects, in accordance with all applicable laws and in conformity with all         applicable Governmental Authorizations;                      (iii)  to  the  extent  a  Person  that  is  required  to  become  a  Guarantor         hereunder  is  acquired,  Company  shall  have  taken,  or  caused  to  be  taken,  or  made         arrangements  to  take  within  the  prescribed  time  periods,  as  of the  date  such  Person  is         acquired, each of the actions set forth in Sections 5.9 and/or 5.10, as applicable, unless,         following a request by Company, such actions are not required by Administrative Agent;                      (iv)  Company  and  its  Restricted Subsidiaries  shall  be  in  compliance         with the financial covenants set forth in Section 6.7 on a Pro Forma Basis after giving         effect to such acquisition as of the last day of the Fiscal Quarter most recently ended;                      (v)  solely  to  the  extent  that  the  consideration  with  respect  to a         Permitted  Acquisition  exceeds  $25,000,000,  Company  shall  have  delivered  to         Administrative Agent at least ten (10) Business Days prior to such proposed acquisition         (or such shorter period as may be  agreed by Administrative Agent), (A) a Compliance         Certificate  evidencing  compliance with  Section 6.7  as  required under clause (iv)  above         and  (B) all  other  relevant  financial  information  with  respect  to  such  acquired  assets,         including,  without  limitation,  the  aggregate  consideration  for such  acquisition  and  any        other information required to demonstrate compliance with Section 6.7; and                      (vi)  any Person or assets or division as acquired in accordance herewith         shall be in the same business or lines of business in which Company and/or its Restricted         Subsidiaries  are  engaged  as  of  the  Amendment  and  Restatement  Effective  Date  or  in                                        -47-                                             105376510     

 

           which Company and/or its Restricted Subsidiaries are expressly permitted hereunder to         engage in.          “Permitted Cash Management Agreement” means any Cash Management Agreement  entered into with a Lender Counterparty.         “Permitted Hedge Agreement” means any Hedge Agreement entered into with a Lender   Counterparty.          “Permitted  Letter  of  Credit”  means  any  standby  letter  of  credit  entered  into  with  a   Lender Counterparty after the Amendment and Restatement Effective Date on a bilateral basis   and not part of the facilities provided under the Credit Documents for the account of Company or   any of its Subsidiaries, and specifically designated as such to the Administrative Agent in writing   by Company and the relevant Lender Counterparty as a “Permitted Letter of Credit” which is to   be included among the Obligations and accordingly secured by the Collateral on a pari passu   basis;  provided  that  the  aggregate  face  amount  of  all  such  letters  of  credit  shall  not  exceed   $100,000,000 at any time.           “Permitted Liens” means each of the Liens permitted pursuant to Section 6.2.          “Permitted  Refinancing”  means,  with  respect  to  any  Person,  any  refinancing,   replacement,  renewal  or  extension  of  any  Indebtedness  of  such  Person  in  whole  or  in  part;   provided that (a) the principal amount (or accreted value, if applicable) thereof does not exceed   the  principal  amount  (or  accreted  value,  if  applicable)  of  the Indebtedness  so  refinanced,  replaced,  renewed  or  extended  except  by  an  amount  equal  to  any reasonable  and  customary  transaction  costs  and  fees  and  any  premium  on  the  Indebtedness  required  to  be  paid  in  connection with such refinancing, replacement, renewal or extension unless the increase in the  principal  amount  of  such  Indebtedness  is  permitted  under  Section  6.1  (provided  that  such   limitation shall not apply with respect to Indebtedness that a client of a Project undertakes to   service  through  the  lease,  service  or  operating  agreement  for  such  Project),  (b)  at  the  time   thereof, no Event of Default shall have occurred and be continuing or would result therefrom,   and (c) with respect to a Permitted Refinancing in respect of Indebtedness permitted pursuant to   Section 6.1(g), 6.1(h), 6.1(i) or 6.1(n) (i) such refinancing, replacement, renewal or extension has   a final maturity date equal to or later than the Latest Maturity Date (as determined on the date of   incurrence  of  such  Permitted  Refinancing)  of,  and  has  a  Weighted  Average  Life  to  Maturity   equal  to  or  greater  than  the  Weighted  Average  Life  to  Maturity of,  the  Indebtedness  being   refinanced,  replaced,  renewed  or  extended  (provided  that  such  limitation  shall  not  apply  with   respect to Indebtedness that a client of a Project undertakes to service through the lease, service   or  operating  agreement  for  such  Project),  (ii)  such  refinancing,  replacement,  renewal  or   extension shall be at the then prevailing market rates and the non-economic terms and conditions   thereof are not less favorable to the obligor thereof or to the Lenders than the Indebtedness being   refinanced, replaced, renewed or extended, taken as a whole (considering the economic benefits   and  disadvantages  to  Company  and  its  Restricted  Subsidiaries  from  such  refinancing,   replacement,  renewal  or  extension,  as  well  as  the  economic  benefits  and  disadvantages  to   Company  and  its  Restricted  Subsidiaries  of  the  Project  (if  any)  to  which  such  Indebtedness   relates), (iii) to the extent such Indebtedness being refinanced, replaced, renewed or extended is   subordinated in right of payment to the Obligations, such refinancing, replacement, renewal or                                        -48-                                             105376510     

 

     extension is subordinated in right of payment to the Obligations on terms at least as favorable to   the  Lenders  as  those  contained  in  the  documentation  governing  the  Indebtedness  being   refinanced, replaced, renewed  or  extended, and  (iv)  such refinancing, replacement, renewal or   extension is incurred by the Person(s) who is an obligor under the Indebtedness being refinanced,   replaced, renewed or extended and no other Person is an obligor thereunder.          “Permitted  Subordinated  Indebtedness”  means  all  unsecured  Indebtedness  of   Company or any Guarantor Subsidiary that shall have been subordinated to all Indebtedness of  Company or any Guarantor Subsidiary under this Agreement and otherwise containing terms and  conditions  set  forth  in  Schedule 6.1(w)(1)  with  respect  to  Indebtedness  of  Company  or  any   Guarantor Subsidiary to Affiliates thereof or in Schedule 6.1(w)(2) with respect to Indebtedness   of  Company  or  any  Guarantor  Subsidiary  to  non-Affiliates  thereof, with such amendments or   modifications as may be approved by Administrative Agent and Company.          “Permitted  Subordinated  Indebtedness  Documentation”  means  any  documentation   governing any Permitted Subordinated Indebtedness, with such amendments or modifications as   may be approved by Administrative Agent and Company.          “Person” means and includes natural persons, corporations, limited partnerships, general   partnerships,  limited  liability  companies,  limited  liability  partnerships,  joint  stock  companies,   Joint  Ventures,  associations,  companies,  trusts,  banks,  trust  companies,  land  trusts,  business   trusts or other organizations, whether or not legal entities, and Governmental Authorities.          “Platform” as defined in Section 5.1(k).          “Pledge  and  Security  Agreement”  means  the  Amended  and  Restated  Pledge  and   Security Agreement executed by Company and each Guarantor Subsidiary on the Amendment   and Restatement Effective Date, as amended, restated, supplemented or otherwise modified from   time to time.           “Post-Acquisition Period” means, with respect to any Permitted Acquisition, the period   beginning on the date such Permitted Acquisition is consummated and ending on the last day of   the sixth full consecutive Fiscal Quarter immediately following the date on which such Permitted   Acquisition is consummated.          “Pounds  Sterling”  and  “£”  means  freely  transferable  lawful  money  of  the  United   Kingdom (expressed in Pounds Sterling).          “Pricing Grid” means the table set forth below:                (i)  with respect to Revolving Loans, Swing Line Loans and the Commitment  Fee Rate:                                                                       -49-                                             105376510     

 

                               Applicable Margin for                              Revolving Loans   Applicable Margin for   Commitment Fee  Level               Leverage      (Eurodollar Rate      Revolving Loans     Rate for Revolving                 Ratio            Loans)          (Base Rate Loans)         Lenders     I         > 3.25:1.00         2.25%                1.25%                0.45%               ≤ 3.25:1.00    II              > 2.50:1.00         2.00%                1.00%                0.375%               ≤ 2.50:1.00    III              > 1.75:1.00         1.875%               0.875%               0.30%     IV        ≤ 1.75:1.00         1.75%                0.75%                0.25%                                    (ii)  with respect to Term Loans:                                 Applicable Margin             Applicable Margin     Level   Leverage     for Term Loans (Eurodollar Rate for Term Loans (Base Rate               Ratio                 Loans)                        Loans)        I     ≥1.75:1.00               2.00%                        1.00%       II     <1.75:1.00               1.75%                        0.75%                       No change in the Applicable Margin shall be effective until three (3) Business Days after     the date on which Administrative Agent shall have received the applicable financial statements     and  a  Compliance  Certificate  pursuant  to  Section  5.1(c)(i)  calculating  the  Leverage  Ratio.      Subject  to  the  following  paragraph,  between  the  Amendment  and  Restatement  Effective  Date     and the first date thereafter on which Administrative Agent shall have received the applicable     financial  statements  and  a  Compliance  Certificate  pursuant  to  Section  5.1(c)(i)  calculating  the     Leverage  Ratio,  the  Applicable  Margin  for  the  Revolving  Loans, Swing  Line  Loans  and  the     Commitment Fee Rate shall be determined as if Level II of the applicable table set forth above     were in effect and the Applicable Margin for the Term Loans shall be determined as if Level I of     the applicable table set forth above were in effect.            At  any  time  Company  has  not  submitted  to  Administrative  Agent  the  applicable     information  as  and  when  required  under  Section  5.1(c)(i),  the  Applicable  Margin  for  the     Revolving  Loans,  Swing  Line  Loans  or  Term  Loans,  as  applicable, and  the  Commitment  Fee     Rate shall be determined as if Level I of the applicable table set forth above were in effect until     such  time  as  each  failure  is  cured.   Within  one  (1)  Business  Day  of  receipt  of  the  applicable                                          -50-                                                 105376510       

 

     information  under  Section  5.1(c)(i),  Administrative  Agent  shall  give  each  Lender  electronic,   telefacsimile  or  telephonic  notice  (confirmed  in  writing)  of  the  Applicable  Margin  and   Commitment Fee Rate in effect from such date.          “Principal Office” means, for each of Administrative Agent, Swing Line Lender and the   Issuing Banks, such Person’s “Principal Office” as set forth on Appendix C, or such other office   or office of a third party or sub-agent,  as  appropriate,  as  such  Person  may  from  time  to  time  designate in writing to Company, Administrative Agent and each Lender.         “Pro Forma Adjustment” means, for any Test Period that includes all or any part of a  Fiscal Quarter included in any Post-Acquisition Period, with respect to the Acquired EBITDA of  the applicable Acquired Entity or Business or the Consolidated Adjusted EBITDA of Company,  the  pro  forma  increase  or  decrease  in  such  Acquired  EBITDA  or  such Consolidated Adjusted  EBITDA, as the case may be, projected by Company in good faith as a result of (a) actions taken  during  such  Post-Acquisition  Period  for  the  purposes  of  realizing  reasonably  identifiable  and  factually  supportable  cost  savings  or  (b) any  additional  costs incurred  during  such  Post-Acquisition Period, in each case in connection with the combination of the operations of  such  Acquired  Entity  or  Business  with  the  operations  of  Company  and  the  Restricted  Subsidiaries; provided that so long as such actions are taken during such Post-Acquisition Period   or such costs are incurred during such Post-Acquisition Period, as applicable, the cost savings   related to such actions or such additional costs, as applicable, it may be assumed, for purposes of   projecting such pro forma increase or decrease to such Acquired EBITDA or such Consolidated   Adjusted  EBITDA,  as  the  case  may  be,  that  such  cost  savings  will  be  realizable  during  the   entirety of such Test Period, or such additional costs, as applicable, will be incurred during the   entirety of such Test Period; provided further, that any such pro forma increase or decrease to   such Acquired EBITDA or such Consolidated Adjusted EBITDA, as the case may be, shall be   without  duplication  for  cost  savings  or  additional  costs  already  included  in  such  Acquired   EBITDA  or  such  Consolidated  Adjusted  EBITDA,  as  the  case  may  be,  for  such  Test  Period;   provided further, that no Pro Forma Adjustment may be made unless a certificate executed by an   Authorized  Officer  of  Company  is  delivered  to  Administrative  Agent  stating  that  such  cost   savings or costs are based on reasonable estimates, information and assumptions and that such   Authorized Officer has no reason to believe that the projected cost savings or costs will not be   achieved.          “Pro  Forma  Basis”  means,  with  respect  to  compliance  with  any  test  or  covenant   hereunder, that (A) to the extent applicable, the Pro Forma Adjustment shall have been made and   (B) all  Specified  Transactions  and  the  following  transactions  in  connection  therewith  shall  be   deemed to have occurred as of the first day of the applicable period of measurement in such test   or  covenant:   (a) income  statement  items  (whether  positive  or  negative)  attributable  to  the   property or Person subject to such Specified Transaction, (i) in the case of a disposition of all or   substantially all Capital Stock in any Subsidiary of Company or any division, product line, or   facility used for operations of Company or any of its Subsidiaries, shall be excluded, and (ii) in   the  case  of  a  Permitted  Acquisition  or  Investment  described  in the  definition  of  “Specified   Transaction,”  shall  be  included,  (b) any  retirement  of  Indebtedness,  and  (c) any  Indebtedness   incurred or assumed by Company or any of the Restricted Subsidiaries in connection therewith   and if such Indebtedness has a floating or formula rate, shall have an implied rate of interest for   the applicable period for purposes of this definition determined by utilizing the rate which is or                                        -51-                                             105376510     

 

   would be in effect with respect to such Indebtedness as at the relevant date of determination;  provided  that  without  limiting  the  application  of  the  Pro  Forma  Adjustment  pursuant  to  (A) above,  the  foregoing  pro  forma  adjustments  may  be  applied  to  any  such  test  or  covenant  solely  to  the  extent  that  such  adjustments  are  consistent  with the  definition  of  Consolidated  Adjusted EBITDA and give effect to events (including operation expense reductions) that are (i)  (x) directly  attributable  to  such  transaction,  (y) expected  to have  a  continuing  impact  on  Company or the Restricted Subsidiaries and (z) factually supportable or (ii) otherwise consistent  with the definition of Pro Forma Adjustment.        “Project”  means  any  waste-to-energy  facility,  waste  disposal,  treatment,  transfer,  transportation  or  collection  facility  and  facilities  and  operations  related  or  ancillary  thereto,  electrical generation plant, cogeneration plant, water treatment facility, renewable energy facility  or other facility for the generation of electricity or other forms of energy (including steam) or  engaged in another line of business in which Company and its Subsidiaries are permitted to be  engaged hereunder for which a Subsidiary or Subsidiaries of Company was, is or will be (as the  case  may  be)  an  owner,  operator,  manager  or  builder,  provided, however,  that  a  Project  shall  cease to be a Project of Company and its Subsidiaries at such time that Company or any of its  Subsidiaries ceases to have any existing or future rights or obligations (whether direct or indirect,  contingent or matured) associated therewith.         “Projections”  means  the  projections  of  Holding  and  its  Restricted  Subsidiaries  for  the  period Fiscal Year 2018 through and including Fiscal Year 2023.        “Proposed Modification” as defined in Section 2.23.         “Pro  Rata  Share”  means  (i) with  respect  to  all  payments,  computations  and  other  matters  relating  to  the  Term  Loan  (other  than  any  Additional  Term  Loan)  of  any  Lender,  the  percentage obtained by dividing (a) the Term Loan Exposure (other than Additional Term Loan  Exposure) of that Lender by (b) the aggregate Term Loan Exposure (other than Additional Term  Loan Exposure) of all Lenders; (ii) with respect to all payments, computations and other matters  relating  to  the  Revolving  Commitment  or  Revolving  Loans  of  any  Lender  or  any  Letters  of  Credit  issued  or  participations  purchased  therein  by  any  Lender  or  any  participations  in  any  Swing  Line  Loans  purchased  by  any  Lender,  the  percentage  obtained  by  dividing  (a) the  Revolving Exposure of that Lender by (b) the aggregate Revolving Exposure of all Lenders; and  (iii) with  respect  to  all  payments,  computations  and  other  matters  relating  to  Additional  Term  Loans of a particular Series, the percentage obtained by dividing (a) the Additional Term Loan  Exposure of that Lender with respect to that Series by (b) the aggregate Additional Term Loan  Exposure of all Lenders with respect to that Series.  For all other purposes with respect to each  Lender, “Pro Rata Share” means the percentage obtained by dividing (A) an amount equal to the  sum of the Term Loan Exposure, Additional Term Loan Exposure and the Revolving Exposure  of that Lender, by (B) an amount equal to the sum of the aggregate Term Loan Exposure, the  aggregate Additional Term Loan Exposure and the aggregate Revolving Exposure of all Lenders.         “PTE” means a prohibited transaction class exemption issued by the U.S. Department of  Labor, as any such exemption may be amended from time to time.         “Public Lender” as defined in Section 5.1(k).                                       -52-                                           105376510    

 

           “Qualified  Receivables  Financing”  means  any  Receivables  Financing  that  meets  the   following conditions: (i) the board of directors of Company shall have determined in good faith   that such Receivables Financing (including financing terms, covenants, termination events and   other  provisions)  is  in  the  aggregate  economically  fair  and  reasonable  to  Company  and  its   Restricted  Subsidiaries,  (ii)  all  sales,  conveyances,  assignments  and/or  contributions  of   Receivables Assets by Company or any Restricted Subsidiary to any Receivables Subsidiary and   by any Receivables Subsidiary to any other Person are made at fair market value (as determined   by Company in good faith), and (iii) the financing terms, covenants, termination events and other   provisions thereof shall be market terms at the time such Receivables Financing is first entered   into  (as  determined  by  Company  in  good  faith)  and  may  include  Standard  Securitization   Undertakings.  The grant of a security interest in any accounts receivable of Company or any of   its  Restricted  Subsidiaries  (other  than  a  Receivables  Subsidiary)  to  secure  any  credit,  note   purchase or other similar agreement shall not be deemed a Qualified Receivables Financing.          “Real Estate Asset” means, at any time of determination, any interest (fee, leasehold or   otherwise) then owned by Company or any Guarantor Subsidiary in any real property.         “Receivables Asset” means accounts receivable (whether now existing or arising in the  future) of Company or any of its Subsidiaries, and any assets related thereto including, without  limitation,  all  collateral  securing  such  accounts  receivable,  all  contracts  and  all  guarantees  or  other  obligations in  respect  of  such  accounts  receivable,  proceeds  of  such  accounts  receivable  and other assets related thereto which are customarily transferred or in respect of which security  interests  are  customarily  granted  in  connection  with  non-recourse,  asset  securitization  or  non- recourse,  factoring  transactions  involving  accounts  receivable and  any  Hedge  Agreements  entered into by Company or any such Subsidiary in connection with such accounts receivable.         “Receivables  Fees”  means  distributions  or  payments  made  directly  or  by  means  of  discounts with respect to any participation interest issued or sold in connection with, and other  fees  paid  to  a  Person  that  is  not  a  Restricted  Subsidiary  in  connection  with,  any  Receivables  Financing.           “Receivables  Financing”  means  any  transaction  or  series  of  transactions  that  may  be  entered into by Company or any Restricted Subsidiary pursuant to which Company or any such  Restricted Subsidiary may sell, contribute,  convey,  assign  or  otherwise  transfer  Receivables  Assets  to  (a)  a  Receivables  Subsidiary  (in  the  case  of  a  transfer  by  Company  or  any  of  its  Subsidiaries), and (b) any other Person (in the case of a transfer by a Receivables Subsidiary),  which in either case, may include a backup or precautionary grant of security interest in such  Receivables Assets so sold, contributed, conveyed, assigned or otherwise transferred).           “Receivables Repurchase Obligation” means any obligation of a seller of receivables in  a Qualified Receivables Financing to repurchase receivables arising as a result of a breach of a  representation, warranty or covenant or otherwise, including as a result of a receivable or portion  thereof becoming subject to any asserted defense, dispute, off-set or counterclaim of any kind as  a result of any action taken by, any failure to take action by or any other event relating to the  seller.                                         -53-                                             105376510     

 

           “Receivables  Subsidiary”  means  a  Wholly  Owned  Restricted  Subsidiary  of  Company   (or another Person formed for the purposes of engaging in a Qualified Receivables Financing   with Company in which Company or any Subsidiary of Company makes an Investment and to   which  Company  or  any  Subsidiary  of  Company  sells,  conveys,  assigns  or  otherwise  transfers   Receivables Assets (which may include a backup or precautionary grant of security interest in   such Receivables Assets sold, conveyed, assigned or otherwise transferred or purported to be so   sold, conveyed, assigned or otherwise transferred)) which engages in no activities other than in   connection with the purchase, acquisition or financing of Receivables Assets of Company and its   Subsidiaries, all proceeds thereof and all rights (contractual or other), collateral and other assets   relating thereto, and any business or activities incidental or related to such business, and which is   designated  by  the  board  of  directors  of  Company  (as  provided  below)  as  a  Receivables   Subsidiary  and  (i)  no  portion  of  the  Indebtedness  or  any  other obligations  (contingent  or   otherwise) of which (a) is guaranteed  by  Company  or  any Restricted Subsidiary (other than a   Receivables  Subsidiary,  excluding  guarantees  of  obligations  (other  than  the  principal  of,  and   interest on, Indebtedness) pursuant to Standard Securitization Undertakings), (b) is recourse to or   obligates  Company  or  any  Restricted  Subsidiary  (other  than  a  Receivables  Subsidiary)  in  any   way other than pursuant to Standard Securitization Undertakings, or (c) subjects any property or   asset of Company or any Restricted Subsidiary (other than a Receivables Subsidiary), directly or   indirectly, contingently or otherwise, to the satisfaction thereof, other than pursuant to Standard   Securitization  Undertakings,  (ii)  with  which  neither  Company  nor  any  Restricted  Subsidiary   (other  than  a  Receivables  Subsidiary)  has  any  material  contract,  agreement,  arrangement  or   understanding other than on terms which Company reasonably believes to be no less favorable to   Company or such Subsidiary than those that might be obtained at the time from Persons that are   not  Affiliates  of  Company,  and  (iii)  to  which  neither  Company  nor  any  other  Subsidiary  of   Company has any obligation to maintain or preserve such entity’s financial condition or cause   such entity to achieve certain levels of operating results.  Any such designation by the Board of   Directors  of  Company  shall  be  evidenced  to  the  Administrative  Agent  by  filing  with  the   Administrative  Agent  a  certified  copy  of  the  resolution  of  the board  of  directors  of  Company   giving  effect  to  such  designation  and  an  officer’s  certificate certifying  that  such  designation   complied with the foregoing conditions.           “Recipient”  means  (a)  the  Administrative  Agent,  (b)  any  Lender,  or  (c)  any  Issuing   Bank, as applicable.          “Refinance”  means,  in  respect  of  any  Indebtedness,  to  refinance,  redeem, defease,   refund, extend, renew or repay any Indebtedness with the proceeds of other Indebtedness, or to   issue other Indebtedness, in exchange or replacement for, such Indebtedness in whole or in part;   “Refinanced” and “Refinancing” shall have correlative meanings.          “Refunded Swing Line Loans” as defined in Section 2.3(b)(iv).          “Register” as defined in Section 10.6(b).          “Regulation D” means Regulation D of the Board of Governors of the Federal Reserve  System, as in effect from time to time.                                         -54-                                             105376510     

 

           “Related Fund” means, with respect to any Lender that is an investment fund, any other   investment fund that invests in commercial loans and that is managed or advised by the same   investment advisor as such Lender or by an Affiliate of such investment advisor.          “Related  Parties” means, with respect to any Person, such Person’s Affiliates and the   partners, directors, officers, employees, agents, trustees, administrators, managers, advisors and   representatives of such Person and of such Person’s Affiliates.          “Release”  means  any  release,  spill,  emission,  leaking,  pumping,  pouring,  injection,   escaping,  deposit,  disposal,  discharge,  dispersal,  dumping,  leaching  or  migration  of  any   Hazardous Material into the environment (including the abandonment or disposal of any barrels,   containers  or  other  closed  receptacles  containing  any  Hazardous  Material),  including  the   movement of any Hazardous Material through the air, soil, surface water or groundwater.          “Remedial Action” means all actions taken to (i) clean up, remove, remediate, contain,   treat,  monitor,  assess,  evaluate  or  in  any  other  way  address  Hazardous  Materials  in  the   environment;  (ii) perform  pre-remedial  studies  and  investigations  and  post-remedial  operation   and maintenance activities; or (iii) any response actions authorized by 42 U.S.C. 9601 et seq. or   applicable state law.          “Removal Effective Date” as defined in Section 9.6(b).          “Replacement Lender” as defined in Section 2.23.          “Requisite  Class Lenders”  means,  at  any  time  of  determination,  (i) for  the  Class  of   Lenders  having  Term  Loan  Exposure (other  than  Additional  Term  Loan  Exposure),  Lenders   holding more than 50% of the aggregate Term Loan Exposure (other than Additional Term Loan   Exposure)  of  all  Lenders;  (ii) for  the  Class  of  Lenders  having Revolving  Exposure,  Lenders   holding more than 50% of the aggregate Revolving Exposure of all Lenders; and (iii) for each   Class of Lenders having Additional Term Loan Exposure, Lenders holding more than 50% of the   aggregate  Additional  Term  Loan  Exposure  of  that  Class;  provided  that  such  sum  shall  be   determined with respect to any Defaulting Lender by disregarding the Term Loan Exposure, the   Revolving Exposure and Additional Term Loan Exposure of such Defaulting Lender; provided,   for purposes of this definition the outstanding principal amount of Alternative Currency Loans   and the Alternative Currency Letter of Credit Outstandings at any time shall be determined using  the Dollar Equivalent thereof at such time.         “Requisite  Lenders”  means  one  or  more  Lenders  having  or  holding  Term  Loan  Exposure  (other  than  Additional  Term  Loan  Exposure),  Revolving Exposure  and  Additional  Term Loan Exposure and representing more than 50% of the sum of (i) the aggregate Term Loan  Exposure  (other  than  Additional  Term  Loan  Exposure)  of  all  Lenders,  (ii) the  aggregate  Revolving Exposure of all Lenders and (iii) the aggregate Additional Term Loan Exposure of all  Lenders; provided that such sum shall be determined with respect to any Defaulting Lender by   disregarding  the  Term  Loan  Exposure,  the  Revolving  Exposure  and  Additional  Term  Loan   Exposure of such Defaulting Lender; provided that for purposes of this definition the outstanding   principal amount of Alternative Currency Loans and the Alternative Currency Letter of Credit   Outstandings at any time shall be determined using the Dollar Equivalent thereof at such time.                                        -55-                                             105376510     

 

         “Resignation Effective Date” as defined in Section 9.6(a).         “Restatement Date Material Real Estate Assets” as defined in Section 4.11(b).         “Restricted  Junior  Payment”  means  (i) any  dividend  or  other  distribution,  direct  or  indirect,  on  account  of  any  shares of any class of stock of Company  now  or  hereafter  outstanding,  except  a  dividend  payable  solely  in  shares  of  stock  to  the  holders  of  that  class;  (ii) any redemption, retirement, sinking fund or similar payment, purchase or other acquisition  for value, direct or indirect, of any shares of any class of stock of Company now or hereafter  outstanding;  (iii) any  payment  made  to  retire,  or  to  obtain  the  surrender  of,  any  outstanding  warrants,  options  or  other  rights  to  acquire  shares  of  any  class  of  stock  of  Company  now  or  hereafter outstanding; (iv) management or similar fees payable to Holding or any of its Affiliates  (other than Company or Guarantor Subsidiary) or (v) any payment or prepayment of principal of,  premium, if any, or interest on, or any other amount in respect of any Permitted Subordinated  Indebtedness of Company or any Restricted Subsidiary owed to Holding.         “Restricted  Project  Cash”  means,  as  of  any  date  of  determination,  the  sum  of  the  amounts on deposit in each collateral account specified on Schedule 6.7(a) that are designated to  pay  debt  service  principal  or  construction  costs,  as  debt  service  reserves  or  to  redeem  the  Indebtedness secured thereby to the extent excess proceeds remain in the relevant account after  completion of construction of the relevant Project and each other collateral account identified in  writing  to  Administrative  Agent  which  is  established  after  the Amendment  and  Restatement  Effective Date by a Restricted Subsidiary which is not a Guarantor Subsidiary as a debt service  principal account, a debt service reserve fund or a reserve account (which such reserve account  secures  the  Limited  Recourse  Debt  that  is  the  source  of  the  amounts  therein)  so  long  as  the  proceeds in such reserve account are designated to pay construction costs or debt service during  construction or, if excess proceeds remain in such account after completion of construction of the  relevant Project, to redeem the Limited Recourse Debt secured thereby.         “Restricted Subsidiary” means any Subsidiary of Company other than an Unrestricted  Subsidiary.         “Revaluation Date” means (a) with respect to any Loan, each of the following:  (i) each  date of a borrowing of a Eurodollar Rate Loan denominated in an Alternative Currency and (ii)  each date of a continuation of a Eurodollar Rate Loan denominated in an Alternative Currency  pursuant to Section 2.9; and (b) with respect to any Letter of Credit, each of the following:  (i)  each date of issuance of a Letter of Credit denominated in an Alternative Currency, (ii) each date  of an amendment of any such Letter of Credit having the effect of increasing the amount thereof  and (iii) each date of any payment by an Issuing Bank under any Letter of Credit denominated in  an Alternative Currency.         “Revolving  Commitment”  means  the  commitment  of  a  Revolving  Lender  to  make  or  otherwise fund any Revolving Loan pursuant to Section 2.2(a) and/or Section 2.24 and to acquire  participations  in  Letters  of  Credit  and  Swing  Line  Loans  hereunder  and  “Revolving  Commitments”  means  such  commitments  of  all  Revolving  Lenders  in  the  aggregate.  The  amount of each Revolving Lender’s Revolving Commitment, if any, is set forth on Appendix A- 2  or  in  the  applicable  Joinder  Agreement  pursuant  to  Section 2.24 or in the applicable                                       -56-                                           105376510    

 

     Assignment  Agreement,  subject  to  any  adjustment  or  reduction  pursuant  to  the  terms  and   conditions hereof.  The aggregate amount of the Revolving Commitments as of the Amendment   and Restatement Effective Date is $900,000,000.           “Revolving  Commitment  Period”  means  the  period  from  the  Amendment  and   Restatement Effective Date to but excluding the Revolving Commitment Termination Date.          “Revolving Commitment Termination Date” means the earliest to occur of (i) the fifth   anniversary  of  the  Amendment  and  Restatement  Effective  Date,  (ii) the  date  the  Revolving   Commitments are permanently reduced to zero pursuant to Section 2.13(b), and (iii) the date of   the termination of the Revolving Commitments pursuant to Section 8.1.          “Revolving  Exposure”  means,  with  respect  to  any  Lender  as  of  any  date  of   determination,  (i) prior  to  the  termination  of  all  Revolving  Commitments,  that  Lender’s   Revolving  Commitment;  (ii) after  the  termination  of  all  Revolving  Commitments,  the  sum  of   (a) the aggregate outstanding principal amount of the Revolving Loans of that Lender, (b) in the   case of any Issuing Bank, the aggregate L/C Obligation in respect of all Letters of Credit issued   by that Lender (net of any participations by Lenders in such Letters of Credit), (c) the aggregate   amount  of  all  participations  by  that  Lender  in  any  outstanding Letters  of  Credit  or  any   unreimbursed  drawing  under  any Letter  of  Credit,  (d) in  the  case  of  Swing  Line  Lender,  the  aggregate  outstanding  principal amount  of  all  Swing  Line  Loans (net  of  any  participations  therein  by  other  Lenders),  and  (e) the  aggregate  amount  of  all participations  therein  by  that  Lender in any outstanding Swing Line Loans.         “Revolving  Lender”  means  a  Lender  having  a  Revolving  Commitment  or  Revolving  Exposure.         “Revolving Loan” means a Loan made by a Revolving Lender to Company pursuant to  Section 2.2(a) or any Additional Revolving Loan.          “Revolving Loan Note” means a promissory note in the form of Exhibit B-2, as it may   be amended, restated, supplemented or otherwise modified from time to time.          “Sanctions” means any economic sanctions laws or regulations administered or enforced   by  the  United  States  Government  (including,  without  limitation,  OFAC),  the  United  Nations   Security Council, the European Union, the United Kingdom (including Her Majesty’s Treasury   (“HMT”)) or other applicable sanctions authority with jurisdiction over the Company.          “Sanctioned Person” means any of the following:  (i) an entity or individual named on  the Specially Designated Nationals and Blocked Persons List and the Foreign Sanctions Evaders  List maintained by OFAC and any similar list maintained by the United States Government; (ii)  an individual or entity that is 50-percent or more owned, directly or indirectly, by an entity or  individual,  or  two  or  more  entities  or  individuals,  described  in  (i)  above;  (iii)  an  entity  or  individual named on the Consolidated List of Financial Sanctions Targets issued by HMT or on  the consolidated list of persons, groups and entities subject to EU financial sanctions currently  available  at  http://eeas.europa.eu/cfsp/sanctions/consol-list_en.htm;  (iv)  an  entity  or  individual  that is 50-percent or more owned or controlled by an entity or individual described in (iii) above;                                        -57-                                             105376510     

 

     (v)  (A)  the  government  of  a  Designated  Jurisdiction,  (B)  an  entity  domiciled  or  resident  in  a   Designated  Jurisdiction,  or  (C) an  individual  located  in  a  Designated  Jurisdiction;  or  (vi)  any   other person that is the subject or target of Sanctions to the extent that dealings with such person   are restricted or prohibited by Sanctions.          “S&P”  means  S&P  Global  Ratings or  any  successor  by  merger  or consolidation  to its   business.          “Scheduled  Unavailability  Date”  has  the  meaning  assigned  to  such  term  in  Section   2.18(a)(ii)(1)(B).          “Secured  Parties”  has  the  meaning  assigned  to  that  term  in  the  Pledge  and  Security   Agreement.          “Securities”  means  any  stock,  shares,  partnership  interests,  voting  trust certificates,   certificates of interest or participation in any profit-sharing agreement or arrangement, options,   warrants,  bonds,  debentures,  notes,  or  other  evidences  of  Indebtedness,  secured  or  unsecured,   convertible,  subordinated  or  otherwise,  or  in  general  any  instruments  commonly  known  as   “securities”  or  any  certificates  of  interest,  shares  or  participations  in  temporary  or  interim  certificates for the purchase or acquisition of, or any right to subscribe to, purchase or acquire,  any of the foregoing.         “Securities Account” has the meaning assigned to such term in the UCC.         “Senior  Representative”  means,  with  respect  to  any  series  of  Indebtedness  permitted  under Section 6.1(y), the trustee, administrative agent, collateral agent, security agent or similar   agent under the indenture or agreement pursuant to which such Indebtedness is issued, incurred   or otherwise obtained, as the case may be, and each of their successors in such capacities.          “Series” as defined in Section 2.24(a).          “Sold  Entity  or  Business”  has  the  meaning  set  forth  in  the  definition  of  the  term   “Consolidated Adjusted EBITDA”.          “Solvency  Certificate”  means  a  Solvency  Certificate  of  the  chief  financial  officer  of   Holding substantially in the form of Exhibit G.          “Solvent” means, with respect to any Credit Party, that as of the date of determination,   both (i) (a) the sum of such Credit Party’s debt (including contingent liabilities) does not exceed   the present fair saleable value of such Credit Party’s and its Subsidiaries, present assets; (b) such   Credit Party’s capital is not unreasonably small in relation to its business as contemplated on the   Amendment and Restatement Effective Date and reflected in the Projections or with respect to   any  transaction  contemplated  or  undertaken  after  the  Amendment and  Restatement  Effective   Date; and (c) such Person has not incurred and does not intend to incur, or believe that it will   incur,  debts  beyond  its  ability  to  pay  such  debts  as  they  become  due  (whether  at  maturity  or   otherwise);  and  (ii) such  Person  is  “solvent”  within  the  meaning  given  that  term  and  similar   terms under applicable laws relating to fraudulent transfers and conveyances.  For purposes of                                         -58-                                             105376510     

 

     this  definition,  the  amount  of  any  contingent  liability  at  any time  shall  be  computed  as  the   amount that, in light of all of the facts and circumstances existing at such time, represents the   amount that can reasonably be expected to become an actual or matured liability (irrespective of   whether  such  contingent  liabilities  meet  the  criteria  for  accrual  under  Statement  of  Financial   Accounting Standards No. 5).          “Specified Transaction” means, with respect to any period, any Investment, incurrence   or  repayment  of  Indebtedness,  Restricted  Junior  Payment,  Subsidiary  designation,  Additional   Term Loan or Additional Revolving Commitment that by the terms of this Agreement requires a   test or covenant hereunder to be calculated on a “Pro Forma Basis.”          “Spot  Rate” for a currency means the rate determined by Administrative Agent or the   applicable  Issuing  Bank,  as  applicable,  to  be  the  rate  quoted  by  the  Person  acting  in  such   capacity as the spot rate for the purchase by such Person of such currency with another currency   through its principal foreign exchange trading office at approximately 11:00 a.m. on the date two  Business Days prior to the date as of which the foreign exchange computation is made; provided   that Administrative Agent or the Issuing Bank may obtain such spot rate from another financial   institution  designated  by  Administrative  Agent  or  the  applicable  Issuing  Bank  if  the  Person   acting in such capacity does not have as of the date of determination a spot buying rate for any   such currency; provided, further that the applicable Issuing Bank may use such spot rate quoted   on the date as of which the foreign exchange computation is made in the case of any Letter of   Credit  denominated  in  an  Alternative  Currency;  and  provided,  further,  that  in  the  case  of   JPMorgan Chase Bank, N.A., as an Issuing Bank, the “Spot Rate” for a currency shall mean the   JPM Currency Rate.          “Standard Securitization Undertakings” means representations, warranties, covenants,   indemnities  and  guarantees  of  performance  entered  into  by  Company  or  any  Subsidiary  of   Company,  which  Company  has  determined  in  good  faith  to  be  customary  in  a  Receivables   Financing,  including,  without  limitation,  those  relating  to  the  servicing  of  the  assets  of  a   Receivables Subsidiary, it being understood that any Receivables Repurchase Obligation shall be   deemed to be a Standard Securitization Undertaking but excluding any of the foregoing pursuant   to which Company or any Subsidiary of the Company (other than any Receivables Subsidiary)   assumes responsibility for the credit risk of the applicable account debtor.          “Sterling Denominated Loans” and the “£” means each Revolving Loan denominated in   Pounds Sterling at the time of the incurrence thereof.          “Subsidiary”  means,  with  respect  to  any  Person,  any  corporation,  partnership,  limited   liability company, association, joint venture or other business entity of which more than 50% of   the total voting power of shares of stock or other ownership interests entitled (without regard to   the  occurrence  of  any  contingency)  to  vote  in  the  election  of  the  Person  or  Persons  (whether   directors, managers, trustees or other Persons performing similar functions) having the power to   direct  or  cause  the  direction  of  the  management  and  policies  thereof  is  at  the  time  owned  or   controlled, directly or indirectly, by that Person or one or more of the other Subsidiaries of that   Person or a combination thereof; provided, in determining the percentage of ownership interests   of any Person controlled by another Person, no ownership interest in the nature of a “qualifying   share” of the former Person shall be deemed to be outstanding.  Unless otherwise qualified, all                                        -59-                                             105376510     

 

     references to a “Subsidiary” or to “Subsidiaries” in this Agreement shall refer to a Subsidiary or   Subsidiaries of Company.          “Swap  Obligations”  means  with  respect  to  any  Credit  Party  any  obligation  to  pay or  perform  under  any  agreement,  contract  or  transaction  that  constitutes a “swap” within the  meaning of Section 1a(47) of the Commodity Exchange Act.         “Swing  Line  Lender”  means  Bank  of  America,  in  its  capacity  as  Swing  Line  Lender  hereunder, together with its permitted successors and assigns in such capacity.         “Swing Line Loan” means a Loan made by the Swing Line Lender to Company pursuant  to Section 2.3.          “Swing  Line  Note” means a promissory note in the form of Exhibit B-3, as it may be   amended, restated, supplemented or otherwise modified from time to time.          “Swing Line Sublimit” means the lesser of (i) $50,000,000 and (ii) the aggregate unused   amount of Revolving Commitments then in effect.          “TARGET2” means the Trans-European Automated Real-time Gross Settlement Express   Transfer  payment  system  which  utilizes  a  single  shared  platform  and  which  was  launched  on   November 19, 2007.          “TARGET  Day”  means  any  day  on  which  TARGET2  (or,  if  such  payment  system   ceases  to  be  operative,  such  other  payment  system,  if  any,  determined  by  the  Administrative   Agent to be a suitable replacement) is open for the settlement of payments in Euro.          “Tax”  means  any  present  or  future tax,  levy,  impost,  duty,  assessment,  charge,  fee,   deduction  or  withholding  (including  backup  withholding)  of  any nature  imposed  by  any   Governmental Authority, including interest, additions to tax or penalties applicable thereto.          “Tax  Exempt  Debt”  means  Holding’s  tax  exempt  corporate  bonds  identified  on   Schedule  6.1,  any  exchange  notes  issued  in  exchange  therefor,  in  each  case  pursuant  to  their   respective Indentures, also identified on Schedule 6.1, and any other tax exempt corporate bonds   or  similar  debt  securities  issued  by  Holding  after  the  Amendment  and  Restatement  Effective   Date.          “Tax Exempt Debt Documents” means the Tax Exempt Debt, the Indentures identified   on Schedule 6.1 and all other documents executed and delivered with respect to the Tax Exempt   Debt or the Indentures identified on Schedule 6.1.          “Term Lender” means a Lender having a Term Loan Commitment or holding a Term   Loan.          “Term  Loan”  means  (i) a  Term  Loan  made  by  a  Term  Lender  to  Company  on  the   Amendment  and  Restatement  Effective  Date  pursuant  to  Section 2.1(a)  or  (ii) an  Additional   Term  Loan.   The  amount  of  each  Lender’s  Term  Loan  on  the  Amendment  and  Restatement   Effective Date is set forth on Appendix A-1 or in the applicable Joinder Agreement pursuant to                                        -60-                                             105376510     

 

   Section 2.24  or  the  applicable  Assignment  Agreement,  subject  to  any  adjustment  or  reduction  pursuant to the terms and conditions hereof.           “Term Loan Commitment” means the commitment of a Lender to make or otherwise  fund  a  Term  Loan  and  the  Additional  Term  Loan  Commitment  of  a  Lender;  “Term  Loan  Commitments” means such commitments of all Lenders in the aggregate.           “Term  Loan  Exposure”  means,  with  respect  to  any  Lender,  as  of  any  date  of  determination, the outstanding principal amount of the Term Loans of such Lender; provided, at  any time prior to the making of the Term Loans, the Term Loan Exposure of any Lender shall be  equal to such Lender’s Term Loan Commitment.         “Term  Loan  Maturity  Date”  means  the  earlier  of  (i)(a) with  respect  to  Term  Loans  (other than Additional Term Loans), the fifth anniversary of the Amendment and Restatement  Effective  Date  and  (b) with  respect  to  the  Additional  Term  Loans,  the Additional Term  Loan  Maturity Date, and (ii) the date that all the Term Loans and the Additional Term Loans of any  Series shall become due and payable in full hereunder, whether by acceleration or otherwise.         “Term  Loan  Note” means a promissory note in the form of Exhibit B-1, as it may be  amended, restated, supplemented or otherwise modified from time to time.         “Termination Date” means the first date on which (i) each Commitment has expired or  been terminated, (ii) the principal  amount  of  all  Loans  and  all  other  Obligations  then  due and  payable  have  been  paid  in  full  (other  than  (x)  contingent  indemnification  and  reimbursement  obligations for which no claim has been made and (y) obligations and liabilities under Permitted  Cash Management Agreements, Permitted Hedge Agreements and Permitted Letters of Credit as  to which arrangements satisfactory to the applicable Lender Counterparty have been made) and  (iii) all Letters of Credit have been cancelled or have expired or have been Cash Collateralized in  an amount equal to 103% of the face amount of such Letter of Credit on such date or otherwise  secured to the satisfaction of the Issuing Bank thereof.           “Test Period” means, for any determination under this Agreement, the four consecutive  Fiscal Quarters of Company then last ended for which financial statements are available.         “Title Company” as defined in Section 5.10.         “Title Policy” as defined in Section 5.10.         “Total  Assets” means the total assets of Company and its Restricted Subsidiaries on a  consolidated basis determined in accordance with GAAP, as shown on the most recent balance  sheet of Company or such other Person as may be expressly stated.         “Total  Tangible  Assets”  means  Total  Assets  less  the  sum  of:   (i) goodwill  and  other  intangible assets, (ii) minority interest  in consolidated  Subsidiaries  held  by  Persons  other than  Company  or  any  Restricted  Subsidiary  and  (iii) Investments  in  and  assets  of  Unrestricted  Subsidiaries, in each case as reflected on the consolidated balance sheet of such Person and its                                        -61-                                           105376510    

 

     Restricted Subsidiaries as of the end of the most recently ended Fiscal Quarter of such Person for   which financial statements have been delivered to Administrative Agent.          “Total Utilization of Revolving Commitments” means, as at any date of determination,  the sum of (i) the aggregate principal amount of all Revolving Loans outstanding on such date  (other than Revolving Loans made for the purpose of repaying any Refunded Swing Line Loans  or reimbursing an Issuing Bank for any amount drawn under any Letter of Credit, but not yet so  applied)  (taking  the  Dollar  Equivalent  of  any  such  Loans  denominated  in  an  Alternative  Currency), (ii) the aggregate principal amount of all outstanding Swing Line Loans, and (iii) the  L/C  Obligation  (taking the  Dollar Equivalent of  any  such  L/C  Obligations  denominated in  an  Alternative Currency).         “Transaction  Costs”  means  the  fees,  costs and  expenses (including  any  original issue  discount and/or upfront fees) payable by Company in connection with the Transactions.         “Transactions” means the entering into of the applicable Credit Documents, including  this Agreement on the Amendment and Restatement Effective Date.         “Treasury  Regulations”  means  the  final  and  temporary  (but  not  proposed,  unless  the  context  otherwise  indicates)  income  tax  regulations  promulgated  under  the  Internal  Revenue  Code,  as  such  regulations  may  be  amended  from  time  to  time  (including  corresponding  provisions of succeeding regulations).         “Type of Loan” means (i) with respect to either Term Loans or Revolving Loans, a Base  Rate Loan or a Eurodollar Rate Loan, and (ii) with respect to Swing Line Loans, a Base Rate  Loan.         “UCC” means the Uniform Commercial Code (or any similar or equivalent legislation)  as in effect in any applicable jurisdiction.         “UCP” means, with respect to any Letter of Credit, the Uniform Customs and Practice  for  Documentary  Credits,  International  Chamber  of  Commerce  Publication  No.  600  (or  such  later version thereof as may be in effect at the time of issuance).         “Unreimbursed Amount” as defined in Section 2.4(c)(i).          “Unrestricted  Subsidiary”  means  (i) each  Subsidiary  of  Company  listed  on   Schedule 4.21  and  (ii) any  Subsidiary  of  Company  designated  by the  board  of  directors  of   Company as an Unrestricted Subsidiary pursuant to Section 5.14 subsequent to the Amendment   and  Restatement  Effective  Date,  and  in  each  case,  any  Subsidiary  formed  or  acquired  by  an   Unrestricted  Subsidiary  following  such  Unrestricted  Subsidiary’s  designation  pursuant  to   clause (i) or (ii).          “U.S. Tax  Compliance  Certificates”  means  a  certificate  substantially  in  the  form  of   Exhibit F.          “Weighted Average Life to Maturity” means, when applied to any Indebtedness at any   date,  the  number  of  years  obtained  by  dividing:   (i) the  sum  of  the  products  obtained  by                                        -62-                                             105376510     

 

     multiplying (a) the amount of each then remaining installment, sinking fund, serial maturity or   other required payments of principal, including payment at final maturity, in respect thereof, by   (b) the number of years (calculated to the nearest one-twelfth) that will elapse between such date   and  the  making  of  such  payment; by  (ii) the  then  outstanding  principal  amount  of  such   Indebtedness.          “Wholly Owned Restricted Subsidiary” means any Wholly Owned Subsidiary that is a   Restricted Subsidiary.            “Wholly  Owned  Subsidiary”  means,  with  respect  to  any  Person,  (i) any   corporation 100% of whose Capital Stock is at the time owned by such Person and/or by one or   more  Wholly  Owned  Subsidiaries  of  such  Person  and  (ii) any  partnership,  limited  liability   company,  association,  joint  venture  or  other  entity  in  which  such  Person  and/or  one  or  more   Wholly Owned Subsidiaries of such Person has a 100% equity interest at such time (other than,   in the case of a Foreign Subsidiary of Holding with respect to the preceding clauses (i) and (ii),   director’s  qualifying  shares  and/or  other  nominal  amount  of  shares  required  to  be  held  by   Persons other than Company and its Subsidiaries under applicable law).          “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.          “Yen” and “¥” mean the lawful currency of Japan.           1.2   Accounting  Terms.   Except  as  otherwise  expressly  provided  herein,  all   accounting  terms  not  otherwise  defined  herein  shall  have  the  meanings  assigned to them in   conformity with GAAP.  Financial statements and other information required to be delivered by   Company to Lenders pursuant to Sections 5.1(a) and 5.1(b) shall be prepared in accordance with   GAAP (subject, in the case of Section 5.1(b), to final year-end adjustments and in all cases other   than the audited financials delivered pursuant to Section 5.1(b)(ii) to the absence of footnotes) as   in effect at the time of  such preparation.  Subject to the foregoing, calculations  in  connection   with  the  definitions,  covenants  and  other  provisions  used  in  Section 6.7  hereof  shall  utilize   accounting  principles  and  policies  in  conformity  with  those  used  to  prepare  the  Historical   Financial Statements.  If at any time any change in GAAP would affect the computation of any   financial ratio or requirement set forth in any Credit Document, and Company or Administrative   Agent  shall  so  request,  Administrative  Agent  and  Company  shall negotiate  in  good  faith  to   amend such ratio or requirement to preserve the original intent thereof in light of such change in   GAAP (subject to the approval of Requisite Lenders), provided that until so amended, such ratio   or requirement shall continue to be computed in accordance with GAAP prior to such change   therein.   Notwithstanding  any  other  provision  contained  herein,  the  accounting  for  operating   leases and capital leases under GAAP as in effect on the Amendment and Restatement Effective   Date (including, without limitation, FASB ASC 840) shall apply for the purposes of determining   compliance with the provisions of this Agreement, including the definition of “Capital Lease”   and obligations in respect thereof, regardless of any change to GAAP following the Amendment   and  Restatement  Effective  Date  which  would  otherwise  require  such  operating  leases  to  be  treated as capital leases; provided that financial reporting shall not be affected hereby.                                        -63-                                             105376510     

 

         1.3   Interpretation,  etc.  Any of the terms defined herein  may,  unless  the  context  otherwise requires, be used in the singular or the plural, depending on the reference.  References  herein  to  any  Section,  Appendix, Schedule  or  Exhibit  shall  be  to  a  Section,  an  Appendix,  a  Schedule or an Exhibit, as the case may be, hereof unless otherwise specifically provided.  The  use herein of the word “include” or “including”, when following any general statement, term or  matter,  shall  not  be  construed  to  limit  such  statement,  term  or  matter  to  the  specific  items  or  matters set forth immediately following such word or to similar items or matters, whether or not  no limiting language (such as “without limitation” or “but not limited to” or words of similar  import) is used with reference thereto, but rather shall be deemed to refer to all other items or  matters that fall within the broadest possible scope of such general statement, term or  matter.   The use herein of the word “issue” or “issuance” with respect to any Letter of Credit shall be  deemed to include any amendment, extension or renewal thereof.  Unless otherwise specifically  indicated, the term “consolidated” with respect to any Person refers to such Person consolidated  with  its  Restricted  Subsidiaries,  and  excludes  from  such  consolidation  any  Unrestricted  Subsidiary  as  if  such  Unrestricted  Subsidiary  were  not  an  Affiliate of such Person.  Any  reference  herein  to  any  Person  shall  be  construed  to  include  such  Person’s  successors  and  permitted assigns.         1.4   Exchange Rates; Currency Equivalents.               (a)   Administrative Agent or the applicable Issuing Bank, as applicable, shall  determine  the  Spot  Rates  as  of  each  Revaluation  Date  to  be  used  for  calculating  Dollar  Equivalent amounts of Credit Extensions and Outstanding Amounts denominated in Alternative  Currencies.  Such Spot Rates shall become effective as of such Revaluation Date and shall be the  Spot Rates employed in converting any amounts between the applicable currencies until the next  Revaluation  Date  to  occur.   Except  for  purposes  of  financial  statements  delivered  by  Credit  Parties hereunder or calculating financial covenants hereunder or except as otherwise provided  herein,  the  applicable  amount  of  any  currency  (other  than  Dollars)  for  purposes  of  the  Credit  Documents shall be such Dollar Equivalent amount as so determined by Administrative Agent or  the applicable Issuing Bank, as applicable.               (b)   Wherever in this Agreement in connection with a borrowing, conversion,  continuation or prepayment of a Eurodollar Rate Loan or the issuance, amendment or extension  of a Letter of Credit, an amount, such as a required minimum or multiple amount, is expressed in  Dollars,  but  such  borrowing,  Eurodollar  Rate  Loan  or  Letter  of Credit  is  denominated  in  an  Alternative Currency, such amount shall be the relevant Alternative Currency Equivalent of such  Dollar amount (rounded to the nearest unit of such Alternative Currency, with 0.5 of a unit being  rounded upward), as determined by Administrative Agent or the applicable Issuing Bank, as the  case may be.               (c)   For  purposes  of  determining  compliance  with  any  Dollar-denominated  restriction  on  the  incurrence  of  Indebtedness,  the  Dollar-equivalent  principal  amount  of  Indebtedness denominated in a foreign currency shall be calculated based on the Spot Rate in  effect on the date such Indebtedness was incurred, in the case of term debt, or first committed, in  the  case  of  revolving  credit  debt;  provided  that  if  such  Indebtedness  is  incurred  to  Refinance  other Indebtedness  denominated  in  a  foreign  currency,  and  such Refinancing  would  cause  the  applicable Dollar-denominated restriction to be exceeded if calculated at the Spot Rate in effect                                       -64-                                           105376510    

 

     on the date of such Refinancing such Dollar-denominated restriction shall be deemed not to have   been  exceeded  so  long  as  the  principal  amount  of  such  Indebtedness  so  refinanced  does  not   exceed  the  principal  amount  of  such  Indebtedness  being  Refinanced.   Notwithstanding  the   foregoing, the principal amount of any Indebtedness incurred to Refinance other Indebtedness, if   incurred  in  a  different  currency  from  the  Indebtedness  being  Refinanced,  shall  be  calculated   based on the Spot Rate that is in effect on the date of such Refinancing.          1.5   Additional Alternative Currencies.                (a)   Company  may  from  time  to  time  request  that  Revolving  Loans  that are  Eurodollar Rate Loans be made and/or Letters of Credit be issued in a currency other than those  specifically  listed  in  the  definition  of  “Alternative  Currency”;  provided,  that  such  requested  currency is a lawful currency (other than Dollars) that is readily available and freely transferable  and  convertible  into  Dollars.   In  the  case  of  any  such  request with  respect  to  the  making  of  Revolving Loans that are Eurodollar Rate Loans, such request shall be subject to the reasonable  approval  of  Administrative  Agent  and  the  Revolving  Lenders;  and  in  the  case  of  any  such  request  with  respect  to  the  issuance  of  Letters  of  Credit,  such  request  shall  be  subject  to  the  reasonable approval of Administrative Agent and the applicable Issuing Bank.               (b)   Any  such  request  shall  be  made  to  Administrative  Agent  not  later  than  11:00  a.m.,  ten  (10)  Business  Days  prior  to  the  date  of  the  desired  Credit  Extension  (or  such   other time or date as may be reasonably agreed by Administrative Agent and, in the case of any   such  request  pertaining  to  Letters  of  Credit,  the  applicable  Issuing  Bank,  in  its  or  their  sole   discretion).  In the case of any such request pertaining to Eurodollar Rate Loans, Administrative   Agent shall promptly notify each Revolving Lender thereof; and in the case of any such request   pertaining  to  Letters  of  Credit,  Administrative  Agent  shall  promptly  notify  the  Issuing  Banks   thereof.  Each Revolving Lender (in the case of any such request pertaining to Eurodollar Rate   Loans) or the Issuing Banks (in the case of a request pertaining to Letters of Credit) shall notify   Administrative  Agent,  not  later than  11:00  a.m.,  two  (2)  Business  Days  after  receipt  of  such   request whether it consents, in its sole discretion, to the making of Eurodollar Rate Loans or the   issuance of Letters of Credit, as the case may be, in such requested currency.                (c)   Any failure by a Revolving Lender or an Issuing Bank, as the case may be,  to respond to such request within the time period specified in the preceding sentence shall be  deemed to be a refusal by such Revolving Lender or applicable Issuing Bank, as the case may be,  to permit Eurodollar Rate Loans to be made or Letters of Credit to be issued in such requested  currency.  If Administrative Agent and all the Revolving Lenders consent to making Eurodollar  Rate Loans in such requested currency, Administrative Agent shall so notify Company and such  currency shall thereupon be deemed for all purposes to be an Alternative Currency hereunder for  purposes  of  any  borrowing  of  Eurodollar  Rate  Loans;  and  if  Administrative  Agent  and  the  Issuing  Banks  consent  to  the  issuance  of  Letters  of  Credit  in  such  requested  currency,  Administrative Agent shall so notify Company and such currency shall thereupon be deemed for  all  purposes  to  be  an  Alternative  Currency  hereunder  for  purposes  of  any  Letter  of  Credit  issuances.  If Administrative Agent shall fail to obtain consent to any request for an additional  currency under this Section 1.5, Administrative Agent shall promptly so notify Company.            1.6   Change of Currency.                                        -65-                                             105376510     

 

               (a)   The  obligation  of  Company  to  make  a  payment  denominated  in  the  national currency unit of any member state of the European Union that adopts the Euro as its  lawful  currency  after  the  Amendment  and  Restatement  Effective  Date shall  be redenominated  into Euro at the time of such adoption.  If, in relation to the currency of any such member state,  the basis of accrual of interest expressed in this Agreement in respect of that currency shall be  inconsistent  with  any  convention  or  practice  in  the  London  interbank market for the basis of  accrual  of  interest  in  respect  of  the  Euro,  such  expressed  basis  shall  be  replaced  by  such  convention or practice with effect from the date on which such member state adopts the Euro as  its  lawful  currency;  provided  that  if  any  borrowing  in  the  currency  of  such  member  state  is  outstanding immediately prior to such date, such replacement shall take effect, with respect to  such borrowing, at the end of the then current Interest Period.               (b)   Each  provision  of  this  Agreement  shall  be  subject  to  such  reasonable  changes of construction as Administrative Agent, in consultation with Company, may reasonably  determine are necessary and appropriate to reflect the adoption of the Euro by any member state  of  the  European  Union  and  any  relevant  market  conventions  or  practices  relating  to  the  Euro  resulting therefrom.               (c)   Each provision of this Agreement also shall be subject to such reasonable  changes of construction as Administrative Agent, in consultation with Company, may reasonably  determine are necessary and appropriate to reflect a change in currency  of  any  country (other  than the United States and any member state of the European Union) and any relevant market  conventions or practices relating to such change in currency.         1.7   Letter of Credit Amounts; Conflicts with Issuer Documents.  Unless otherwise  specified herein, the amount of a Letter of Credit at any time shall be deemed to be the Dollar  Equivalent  of  the  stated  amount  of  such  Letter  of  Credit  in  effect  at  such  time;  provided,  however, that with respect to any Letter of Credit that, by its terms or the terms of any Issuer  Document  related  thereto,  provides  for  one  or  more  automatic  increases  in  the  stated  amount  thereof, the amount of such Letter of Credit shall be deemed to be the Dollar Equivalent of the  maximum stated amount of such Letter of Credit after giving effect to all such increases, whether  or  not  such  maximum  stated  amount  is  in  effect  at  such  time.   In  the  event  of  any  conflict  between the terms of this Agreement and the terms of any Issuer Document, the terms in this  Agreement shall control.         1.8   Rounding.  Any financial ratios required to be maintained by the Company and  its  Restricted  Subsidiaries  pursuant  to  this  Agreement  shall  be  calculated  by  dividing  the  appropriate component by the other component, carrying the result to one place more than the  number of places by which such ratio is expressed herein and rounding the result up or down to  the nearest number (with a rounding-up if there is no nearest number).         1.9   Times of Day; Rates.               (a)   Unless otherwise specified, all references herein to times of day shall be  references to Eastern time (daylight or standard, as applicable).                                          -66-                                           105376510    

 

               (b)   The Administrative Agent does not warrant, nor accept responsibility, nor  shall the Administrative Agent have any liability with respect to the administration, submission  or any other matter related to the rates in the definition of “Eurodollar Rate” or with respect to  any comparable or successor rate thereto.         1.10  Effect of Amendment and Restatement.               (a)   The effectiveness of this Agreement shall not constitute a novation of any  Original Obligations.  All Loans (other than Loans repaid on the Amendment and Restatement  Effective  Date)  outstanding  under  the  First  Amended  and  Restated  Credit  Agreement,  all  Existing  Letters  of  Credit  and  all  accrued  and  unpaid  amounts  owing  by  any  Credit  Party  pursuant to the First Amended and Restated Credit Agreement shall continue to be outstanding  and owing hereunder or, in the case of Existing Letters of Credit issued by new Issuing Banks,  be deemed issued hereunder.  Without limitation of the foregoing, the Commitments shall be re- allocated  on  the  Amendment  and  Restatement  Effective  Date  in  accordance  with  the  Commitments  set  forth  herein  and the  Lenders  shall  make  settlement  on  the  Amendment  and  Restatement  Effective  Date  in  accordance  with  procedures  approved  by  the  Administrative  Agent, it being understood that the Lenders party hereto waive any breakage costs under Section  2.18(c)  of  the  First  Amended  and  Restated  Credit  Agreement  in  connection  with  such  re- allocation  and  settlement.   Any  payment  or  performance  of  any  Obligation  under  the  First  Amended and Restated Credit Agreement or any Obligation described in this Agreement during  any period prior to the Amendment and Restatement Effective Date shall constitute payment or  performance of such Obligation under this Agreement.                 (b)   After  giving  effect  to  this  Agreement  and  the  modifications  effectuated  thereby,  each  of  the  undersigned  agrees  that  from  and  after  the  Amendment  and  Restatement  Effective  Date,  each  reference  to  the  “Credit  Agreement”  in  the  Credit  Documents  shall  be  deemed to  be a reference to this Agreement as amended and restated on the Amendment and  Restatement Effective Date.               (c)   Each  Term  Lender  hereby  severally  agrees  to  provide  the  Term  Loan  Commitments  in  the  amount  set  forth  opposite  its  name  under  the  heading  “Term  Loan  Commitments” on Appendix A-I hereto on the terms and subject to the conditions set forth in  this  Agreement   It  is  the  understanding,  agreement  and  intention  of  the  parties  that  the  Term  Loans made under the Term Loan Commitments shall be used, in part, to refinance in full the  Initial Term Loans outstanding on the Amendment and Restatement Effective Date.         1.11  Limited  Condition  Transactions.   In  the  event  that  the  Company  notifies  the  Administrative  Agent  in  writing  that  any  proposed  Permitted  Acquisition  or  other  permitted  Investment  is  a  Limited  Condition  Transaction  and  that  the  Company  wishes  to  test  the  conditions to such Permitted Acquisition or Investment and the Additional Term Loans that are  used to finance such Permitted Acquisition or Investment in accordance with this Section, then,  so  long  as  agreed  to  by  the  Lenders  providing  such  Additional  Term Loans, the following  provisions shall apply:               (a)   any  condition  to  such  Permitted  Acquisition  or  Investment  or  such  Additional Term Loans that requires that no Default or Event of Default shall have occurred and                                       -67-                                           105376510    

 

   be continuing at the time of such Permitted Acquisition or Investment or the incurrence of such  Additional Term Loans (including availability pursuant to Section 3.2) shall be satisfied if (i) no  Default or Event of Default shall have occurred and be continuing at the time of the execution of  the definitive purchase agreement, merger agreement or other acquisition agreement governing  such  Permitted  Acquisition  or  Investment  and  (ii)  no  Event  of  Default  under  any  of  Sections  8.1(a), 8.1(f) or 8.1(g) shall have occurred and be continuing both before and after giving effect  to  such  Permitted  Acquisition  or  Investment  and  any  Indebtedness  incurred  or  assumed  in  connection therewith (including any Additional Term Loans);               (b)   any  condition  to  such  Permitted  Acquisition  or  Investment  or  such  Additional Term Loans  that the representations and warranties contained herein and in the other  Credit  Documents  shall  be  true  and  correct  at  the  time  of  such Permitted  Acquisition  or  Investment or the incurrence of such Additional Term Loans (including availability pursuant to  Section  3.2)  shall  be  subject  to  customary  “SunGard”  or  other  customary  applicable  “certain  funds”  conditionality  provisions  (including,  without  limitation,  a  condition  that  the  representations and warranties under the relevant agreements relating to such Limited Condition  Transaction  as  are  material  to  the  Administrative  Agent  or  the Lenders  providing  such  Additional  Term  Loans  shall  be  true  and  correct,  but  only  to  the  extent  that  Company  or  its  applicable Subsidiary has the right to terminate its obligations under such agreement as a result  of  a  breach  of  such  representations  and  warranties  or  the  failure  of  those  representations  and  warranties to be true and correct), so long as all representations and warranties contained herein  and  in  the  other  Credit  Documents  are  true  and  correct  in  all  material  respects  at  the  time  of  execution of the definitive purchase agreement, merger agreement or other acquisition agreement  governing such Permitted Acquisition or Investment;               (c)   any financial ratio test or condition, may upon the written election of the  Company delivered to the Administrative Agent prior to the execution of the definitive purchase  agreement,  merger  agreement  or  other  acquisition  agreement  governing  such  Permitted  Acquisition  or  Investment,  be  tested  either  (i) upon  the  execution  of  the  definitive  purchase  agreement,  merger  agreement  or  other  acquisition  agreement  governing  such  Permitted  Acquisition  or  Investment  or  (ii) upon  the  consummation  of  such  Permitted  Acquisition  or  Investment  and  related  incurrence  of  such  Additional  Term  Loans,  in  each  case,  after  giving  effect to such Permitted Acquisition or Investment and all Indebtedness incurred or assumed in  connection therewith (including any Additional Term Loans), on a Pro Forma Basis; provided  that the failure to deliver a notice under this Section 1.11(c) prior to the date of execution of the  definitive purchase agreement, merger agreement or other acquisition agreement governing such  Permitted Acquisition or Investment shall be deemed an election to test the applicable financial  ratio under clause (c)(ii) of this Section; and;               (d)   except  as  provided  in  the  next  sentence,  if  the  Company  has  made  an  election  with  respect  to  any  Limited  Condition  Transaction  to  test  a  financial  ratio  test  or  condition  at  the  time  specified  in  clause  (c)(i)  of  this  Section,  then  in  connection  with  any  subsequent calculation of any ratio or basket on or following the relevant date of execution of the  definitive purchase agreement, merger agreement or other acquisition agreement governing such  Limited  Condition  Transaction  and prior  to  the  earlier  of  (i) the  date  on  which  such  Limited  Condition  Transaction  is  consummated  or  (ii) the  date  that  the definitive  purchase  agreement,  merger agreement or other acquisition agreement governing such Limited Condition Transaction                                       -68-                                           105376510    

 

     is terminated or expires without consummation of such Limited Condition Transaction, any such   ratio or basket shall be required to be satisfied (x) on a Pro Forma Basis assuming such Limited   Condition Transaction and other transactions in connection therewith (including the incurrence   or  assumption  of  Indebtedness)  have  been  consummated  and  (y) assuming  such  Limited   Condition Transaction and other transactions in connection therewith (including the incurrence   or  assumption  of  Indebtedness)  have  not  been  consummated.   Notwithstanding  the  foregoing,   any calculation of a ratio in connection with determining the Applicable Margin or Commitment  Fee Rate and determining whether or not the Company is in compliance with the requirements of  Section 6.7 shall, in each case be calculated assuming such Limited Condition Transaction and   other  transactions  in  connection therewith  (including  the  incurrence  or  assumption  of   Indebtedness) have not been consummated.                (e)   The  foregoing  provisions  shall  apply  with  similar  effect  during  the   pendency of multiple Limited Condition Transactions such that each of the possible scenarios is   separately tested.  Notwithstanding anything to the contrary herein, in no event shall there be   more than two Limited Condition Transaction at any time outstanding.          1.12  References  to  Agreements,  Laws,  etc.   Unless  otherwise  expressly  provided   herein,  (a)  references  to  Organizational  Documents,  agreements (including  the  Credit   Documents)  and  other contractual  instruments  shall  be  deemed  to  include  all  subsequent   amendments, restatements, extensions, supplements and other modifications thereto, but only to  the extent that such amendments, restatements, extensions, supplements and other modifications   are  not  prohibited  by  any  Credit  Document;  and  (b)  references  to  any  law  shall  include  all   statutory  and  regulatory  provisions  consolidating,  amending,  replacing,  supplementing  or   interpreting such law and any reference to any law or regulation shall, unless otherwise specified,   refer to such law or regulation as amended, modified or supplemented from time to time.      SECTION 2.  LOANS AND LETTERS OF CREDIT          2.1   Term Loans.                (a)   Loan  Commitments.   Subject  to  the  terms  and  conditions  hereof, each   Term Lender severally agrees to make, on the Amendment and Restatement Effective Date, a   Term  Loan  in  Dollars  to  Company  in  an  amount  equal  to  such  Lender’s  Term  Loan   Commitment.                Company  may  make  only  one  borrowing  under  the  Term  Loan  Commitment   (other  than  any  Additional  Term  Loan  Commitment)  which  shall  be  on  the  Amendment  and   Restatement  Effective  Date.   Any  amount  borrowed  under  this  Section 2.1  and  subsequently   repaid  or  prepaid  may  not  be  reborrowed.   Subject  to  Sections 2.13(a)  and 2.14,  all  amounts   owed hereunder with respect to the Term Loans shall be paid in full no later than the Term Loan   Maturity Date.  Each Lender’s Term Loan Commitment (other than any Additional Term Loan   Commitment)  shall  terminate  immediately  and  without  further  action  on  the  Amendment  and   Restatement  Effective  Date  after  giving  effect  to  the  funding  of  such  Lender’s  Term  Loan   Commitment on such date.                                         -69-                                             105376510     

 

               (b)   Borrowing  Mechanics  for  Term  Loans.   Company  shall  deliver  to  Administrative  Agent  a  fully  executed  Funding  Notice  no  later  than  one  (1)  day  prior  to  the  Amendment and Restatement Effective Date.  Promptly upon receipt by Administrative Agent of  such  Funding  Notice,  Administrative  Agent  shall  notify  each  Term  Lender  of  the  proposed  borrowing.                        2.2   Revolving Loans.               (a)   Revolving  Commitments.   Subject  to  the  terms  and  conditions  hereof,  each  Revolving  Lender  severally  agrees  to  make  Revolving  Loans during  the  Revolving  Commitment Period applicable to such Revolving Lender. Such Revolving Loans may be made  in  Dollars  or  an  Alternative  Currency,  to  Company  in  an  aggregate  amount  up  to  but  not  exceeding  such  Lender’s  Revolving  Commitment;  provided  that,  after  giving  effect  to  the  making  of  any  Revolving  Loans  in  no  event  shall  the  Total  Utilization  of  Revolving  Commitments exceed the Revolving Commitments then in effect.  Amounts borrowed pursuant  to this Section 2.2(a) may be repaid and reborrowed during the Revolving Commitment Period.   Each  Revolving  Lender’s  Revolving Commitment shall expire on the Revolving Commitment  Termination Date and all Revolving Loans and all other amounts owed hereunder with respect to  the applicable Revolving Loans and the applicable Revolving Commitments shall be paid in full  no later than the Revolving Commitment Termination Date.               (b)   Borrowing Mechanics for Revolving Loans.                     (i)   Except pursuant to Section 2.4(c), Revolving Loans that are Base        Rate Loans shall be made in an aggregate minimum amount of $3,000,000 and integral        multiples of $500,000 in excess of that amount, and Revolving Loans that are Eurodollar        Rate  Loans  shall  be  in  an  aggregate  minimum  amount  of  $3,000,000  and  integral        multiples of $500,000 in excess of that amount.                     (ii)  Whenever Company desires that Lenders make Revolving Loans,        Company shall provide irrevocable notice to Administrative Agent, which may be given        by (A) telephone, or (B) a Funding Notice, provided that any telephonic notice must be        confirmed immediately by delivery to Administrative Agent of a Funding Notice.  Each       such Funding Notice shall be received by Administrative Agent no later than 12:00 p.m.       at least three (3) Business Days in advance of the proposed Credit Date in the case of a       Eurodollar Rate Loan denominated in Dollars, at least four (4) Business Days in advance       of  the  proposed  Credit  Date  in  the  case  of  a  Eurodollar  Rate  Loan  denominated  in  an       Alternative Currency and at least one (1) Business Day in advance of the proposed Credit       Date  in  the  case  of  a  Revolving  Loan  that  is  a  Base  Rate  Loan.  Except as otherwise       provided herein, a Funding Notice for a Revolving Loan that is a Eurodollar Rate Loan       shall  be  irrevocable  on  and  after  the  related  Interest  Rate  Determination  Date,  and       Company shall be bound to make a borrowing in accordance therewith.                    (iii) Notice of receipt of each Funding Notice in respect of Revolving        Loans, together with the amount of each Lender’s Pro Rata Share thereof, if any, together                                       -70-                                           105376510    

 

         with  the  applicable  interest  rate,  shall  be  provided  by  Administrative  Agent  to  each        applicable  Lender  by  telefacsimile  or  electronic  transmission  means  with  reasonable        promptness, but (provided Administrative Agent shall have received such notice by 12:00        p.m.) not later than 2:00 p.m. on the same day as Administrative Agent’s receipt of such        Notice from Company.                     (iv)  Subject to Section 2.16(b), each Lender shall make the amount of        its  Revolving  Loan  available  to  Administrative  Agent  not  later than  1:00  p.m.  on  the        applicable Credit Date by wire transfer of same day funds in the requested currency, at        the  Principal  Office  designated  by  Administrative  Agent.   Except  as  provided  herein,        upon satisfaction or waiver of the conditions precedent specified herein, Administrative        Agent shall make the proceeds of such Revolving Loans available to Company on the        applicable Credit Date by causing an amount of same day funds in the requested currency        equal  to  the  proceeds  of  all  such  Revolving  Loans  received  by  Administrative  Agent        from Lenders to be credited to the account of Company as may be designated in writing        to Administrative Agent by Company.               (c)   Outstanding  Revolving  Loans  and  Revolving  Commitments  on  the  Amendment and Restatement Effective Date.  All Revolving Loans, if any, outstanding under the  First  Amended  and  Restated  Credit  Agreement  on  the  Amendment  and  Restatement  Effective  Date  shall  remain  outstanding  as  Revolving  Loans,  as  applicable,  under  this  Agreement  until  otherwise  repaid  or  prepaid  in  accordance  with  the  terms  hereof.  On  the  Amendment  and  Restatement Effective Date, Company shall pay to the Administrative Agent, for the respective  accounts  of  the  Lenders,  an  amount  equal  to  the  sum  of  all  unreimbursed  drawings  that  have  been funded hereunder.          2.3   Swing Line Loans.               (a)   Swing  Line  Loans  Commitments.   During  the  Revolving  Commitment  Period,  subject  to  the  terms  and  conditions  hereof,  Swing  Line Lender,  in  reliance  upon  agreements of the other Lenders set forth in this Section 2.3, hereby agrees to make Swing Line  Loans, which may be made only in Dollars, to Company in the aggregate amount up to but not  exceeding the Swing Line Sublimit; provided that after giving effect to the making of any Swing  Line  Loan,  in  no  event  shall  the  Total  Utilization  of  Revolving  Commitments  exceed  the  Revolving Commitments then in effect.  Amounts borrowed pursuant to this Section 2.3 may be  repaid  and  reborrowed  during  the  Revolving  Commitment  Period.  Swing  Line  Lender’s  Revolving Commitment  shall  expire  on  the  Revolving  Commitment  Termination Date  and  all  Swing Line Loans and all other amounts owed hereunder with respect to the Swing Line Loans  and the Revolving Commitments shall be paid in full no later than such date.               (b)   Borrowing Mechanics for Swing Line Loans.                     (i)   Swing Line Loans shall be made in an aggregate minimum amount        of $500,000 and integral multiples of $100,000 in excess of that amount.                    (ii)  Whenever Company desires that Swing Line Lender make a Swing       Line Loan, Company shall provide notice to Administrative Agent, which may be given                                       -71-                                           105376510    

 

         by (A) telephone, or (B) a Funding Notice, provided that any telephonic notice must be        confirmed immediately by delivery to Administrative Agent of a Funding Notice.  Each       such Funding Notice shall be received by Administrative Agent no later than 3:00 p.m.       on the proposed Credit Date.                      (iii) Swing Line Lender shall make the amount of its Swing Line Loan       available to Administrative Agent not later than 4:00 p.m. on the applicable Credit Date       by wire transfer of same day funds in Dollars, at Administrative Agent’s Principal Office.        Except  as  provided  herein,  upon  satisfaction  or  waiver  of  the  conditions  precedent       specified  herein,  Administrative  Agent  shall  make  the  proceeds of  such  Swing  Line       Loans available to Company on the applicable Credit Date by causing an amount of same        day  funds  in  Dollars  equal  to  the  proceeds  of  all  such  Swing  Line  Loans  received  by        Administrative Agent from Swing Line Lender to be credited to the account of Company       as may be designated in writing to Administrative Agent by Company.                      (iv)  With  respect  to  any  Swing  Line  Loans  which  have  not  been       voluntarily prepaid by Company pursuant to Section 2.13, Swing Line Lender may at any        time in its sole and absolute discretion, deliver to Administrative Agent (with a copy to        Company),  no  later  than 11:00  a.m.  at  least  one  (1)  Business  Day  in  advance  of  the        proposed Credit Date, a notice (which shall be deemed to be a Funding Notice given by        Company) requesting that each Lender holding a Revolving Commitment on such date        make Revolving Loans that are Base Rate Loans to Company on such Credit Date in an        amount  equal  to  the  amount  of  such  Swing  Line  Loans  (the  “Refunded  Swing  Line        Loans”) outstanding on the date such notice is given which Swing Line Lender requests        Lenders  to  prepay.   Anything  contained  in  this  Agreement  to  the  contrary        notwithstanding, (1) the proceeds of such Revolving Loans made by the Lenders other        than  Swing  Line  Lender  shall  be  immediately  delivered  by  Administrative  Agent  to        Swing Line Lender (and not to Company) and applied to repay a corresponding portion        of the Refunded Swing Line Loans and (2) on the day such Revolving Loans are made,        Swing Line Lender’s Pro Rata Share of the Refunded Swing Line Loans shall be deemed        to  be  paid  with  the  proceeds  of  a  Revolving  Loan  made  by  Swing Line  Lender  to        Company,  and  such  portion  of  the  Swing  Line  Loans  deemed  to  be  so  paid  shall  no        longer be outstanding as Swing Line Loans and shall no longer be due under the Swing        Line Note of Swing Line Lender but shall instead constitute part of Swing Line Lender’s        outstanding Revolving Loans  to  Company  and  shall  be  due  under  the Revolving Loan        Note  issued  by  Company  to  Swing  Line  Lender.   Company  hereby  authorizes        Administrative  Agent  and  Swing  Line  Lender  to  charge  Company’s  accounts  with        Administrative Agent and Swing Line Lender (up to the amount available in each such        account)  in  order  to  immediately  pay  Swing  Line  Lender  the  amount  of  the  Refunded        Swing  Line  Loans  to  the  extent  of  the  proceeds  of  such  Revolving  Loans  made  by        Lenders, including the Revolving Loans deemed to be made by Swing Line Lender, are        not sufficient to repay in full the Refunded Swing Line Loans.  If any portion of any such        amount paid (or deemed to be paid) to Swing Line Lender should be recovered by or on        behalf of Company from Swing Line Lender in bankruptcy, by assignment for the benefit        of  creditors  or  otherwise,  the  loss  of  the  amount  so  recovered shall  be  ratably  shared        among all Lenders in the manner contemplated by Section 2.17.                                        -72-                                           105376510    

 

                     (v)   If  for  any  reason  Revolving  Loans  are  not  made  pursuant  to        Section 2.3(b)(iv)  in  an  amount  sufficient  to  repay  any  amounts  owed  to  Swing  Line        Lender in respect of any outstanding Swing Line Loans on or before the third Business       Day  after  demand  for  payment  thereof  by  Swing  Line  Lender,  each  Lender  holding  a       Revolving  Commitment  on  such  date  shall  be  deemed  to,  and  hereby  agrees  to,  have       purchased a participation in such outstanding Swing Line Loans, and in an amount equal       to  its  Pro  Rata  Share  of  the  applicable  unpaid  amount  together with  accrued  interest       thereon.   Upon  one  (1)  Business  Day’s  notice  from  Swing  Line  Lender,  each  Lender       holding a Revolving Commitment on such date shall deliver to Swing Line Lender an       amount equal to its respective participation in the applicable unpaid amount in same day       funds  at  the  Principal  Office  of  Swing  Line  Lender.   In  order  to  evidence  such       participation each Lender holding a Revolving Commitment on such date agrees to enter       into a participation agreement at the request of Swing Line Lender in form and substance       reasonably  satisfactory  to  Swing  Line  Lender.   In  the  event  any  Lender  holding  a       Revolving Commitment on such date fails to make available to Swing Line Lender the       amount of such Lender’s participation as provided in this paragraph, Swing Line Lender       shall  be  entitled  to  recover  such  amount  on  demand  from  such  Lender  plus  interest       thereon from the date of such demand to the date such amount is returned, at a rate per       annum equal to the applicable Overnight Rate.                    (vi)  Notwithstanding  anything  contained  herein  to  the  contrary,       (1) each  Revolving  Lender’s  obligation  to  make  Revolving  Loans for  the  purpose  of       repaying any Refunded Swing Line Loans pursuant to the second preceding  paragraph       and each Revolving Lender’s obligation to purchase a participation in any unpaid Swing       Line  Loans  pursuant  to  the  immediately  preceding  paragraph  shall  be  absolute  and       unconditional and shall not be affected by any circumstance, including without limitation       (A) any set-off, counterclaim, recoupment, defense or other right which such Lender may       have  against  Swing  Line  Lender,  any  Credit  Party  or  any  other  Person  for  any  reason       whatsoever; (B) the occurrence or continuation of a Default or Event of Default; (C) any       adverse  change  in  the  business,  operations,  properties,  assets,  condition  (financial  or       otherwise)  or  prospects  of  any Credit  Party;  (D) any  breach  of this  Agreement  or  any       other Credit Document by any party thereto; or (E) any other circumstance, happening or       event  whatsoever,  whether  or  not  similar  to  any  of  the  foregoing;  provided  that  such        obligations of each Revolving Lender are subject to the condition that Swing Line Lender        believed  in  good  faith  that  all  conditions  under  Section 3.2  to  the  making  of  the        applicable Refunded Swing Line Loans or other unpaid Swing Line Loans, were satisfied        at the time such Refunded Swing Line Loans or unpaid Swing Line Loans were made, or        the  satisfaction  of  any  such  condition  not  satisfied  had  been  waived  by  the  Requisite        Lenders prior to or at the time such Refunded Swing Line Loans or other unpaid Swing        Line Loans were made; and (2) Swing Line Lender shall not be obligated to make any        Swing Line Loans (A) if it has elected not to do so after the occurrence and during the        continuation of a Default or Event of Default or (B) at a time when any Revolving Lender        is  a  Defaulting  Lender  unless  Swing  Line  Lender  has  entered  into  arrangements        satisfactory to it and Company to eliminate Swing Line Lender’s risk with respect to the        Defaulting  Lender’s  participation in  such  Swing  Line  Loan,  including  by  Cash                                        -73-                                           105376510    

 

         Collateralizing such Defaulting Lender’s Pro Rata Share of the outstanding Swing Line        Loans.               (c)   Outstanding Swing Line Loans. All Swing Line Loans, if any, outstanding  under the First Amended and Restated Credit Agreement on the Amendment and Restatement  Effective  Date  shall  remain  outstanding  as  Swing  Line  Loans  under  this  Agreement  until  otherwise repaid or prepaid in accordance with the terms hereof.                        2.4   Issuance of Letters of Credit and Purchase of Participations Therein.              (a)   Letters of Credit.                      (i)   Subject  to  the  terms  and  conditions  set  forth  herein,  (A)  each       Issuing Bank agrees, in reliance upon the agreements of the Revolving Lenders set forth       in this Section 2.4,  (1) from time to time on any Business Day during the period from the        Amendment and Restatement Effective Date until the Letter of Credit Expiration Date, to        issue Letters of Credit (including IRB L/Cs) denominated in Dollars or, with the consent        of the applicable Issuing Lender, in one or more Alternative Currencies for the account of        Company or its Subsidiaries, and to amend or extend Letters of Credit previously issued        by  it,  in  accordance  with  paragraph  (b)  below,  and  (2)  to  honor  drawings  under  the        Letters of Credit; and (B) the Revolving Lenders severally agree to participate in Letters        of  Credit  issued  for  the  account  of  Company  or  its  Subsidiaries  and  any  drawings        thereunder; provided that after giving effect to any Credit Extension with respect to any        Letter of Credit, (x) the Total Utilization of Revolving Commitments shall not exceed the        Revolving  Commitments  then  in  effect,  (y)  the  Revolving  Exposure  (as  determined  in        accordance with clause (ii) of the definition thereof) of any Revolving Lender shall not        exceed  such  Revolving  Lender’s  Revolving  Commitment  then  in  effect,  and  (z)  the        Outstanding  Amount  of  the  L/C  Obligations  shall  not  exceed  $600,000,000  (or  such        greater amount agreed to by the Issuing Banks); provided, further, that in no event shall        any  Issuing  Bank  be  required  to  issue  Letters  of  Credit  in  an  aggregate  outstanding        amount exceeding such Issuing Bank’s Letter of Credit Commitment.  Each request by        Company for the issuance or amendment of a Letter of Credit shall be deemed to be a        representation  by  Company  that  the  Credit  Extension  so  requested  complies  with  the        conditions set forth in the proviso to the preceding sentence.  Within the foregoing limits,        and  subject to  the  terms  and  conditions  hereof,  Company’s  ability  to  obtain  Letters of        Credit  shall  be  fully  revolving,  and  accordingly  Company  may,  during  the  foregoing        period, obtain Letters of Credit to replace Letters of Credit that have expired or that have        been  drawn  upon  and  reimbursed.   This  Agreement  shall  be  the  “Reimbursement        Agreement”  referred  to  in  the  IRB  L/Cs.   All  Existing  Letters  of  Credit  shall  remain        outstanding as Letters of Credit under this Agreement or, in the case of Existing Letters        of Credit issued by new Issuing Banks, be deemed issued hereunder, in each case until        such Letters of Credit expire or terminate in accordance with their terms.                     (ii)  No Issuing Bank shall issue any Letter of Credit, if:                                          -74-                                           105376510    

 

                           (1)   subject  to  Section  2.4(b)(iii),  the  expiry  date  of  the              requested Letter of Credit (other than IRB L/Cs) would occur more than twelve              (12) months after the date of issuance or last extension, unless such Issuing Bank              has approved such expiry date; or                            (2)   the  expiry  date  of  the  requested  Letter  of  Credit  would              occur  after  the  Letter  of  Credit  Expiration  Date,  unless  the  Requisite  Class              Lenders of all applicable Revolving Lenders have approved such expiry date and              such  Issuing  Bank  shall  be  satisfied  with  the  arrangements  with  respect  to  the              period commencing on the Letter of Credit Expiration Date and ending on such              expiry date (it being understood and agreed that, for the avoidance of doubt, no              Revolving Lender shall be required to fund its Revolving Loan or L/C Advance              pursuant to Section 2.4(c) after the Letter of Credit Expiration Date).                     (iii) No Issuing Bank shall be under any obligation to issue any Letter        of Credit if:                           (1)   any  order,  judgment  or  decree  of  any  Governmental              Authority or arbitrator shall by its terms purport to enjoin or restrain such Issuing              Bank  from  issuing  the  Letter  of  Credit,  or  any  law  applicable  to  such  Issuing              Bank or any request or directive (whether or not having the force of law) from              any  Governmental  Authority  with  jurisdiction  over  such  Issuing Bank  shall              prohibit, or request that such Issuing Bank refrain from, the issuance of letters of              credit  generally  or  the  Letter  of  Credit  in  particular  or  shall  impose  upon  such              Issuing Bank with respect to the Letter of Credit any restriction, reserve or capital              requirement  (for  which  such  Issuing  Bank  is  not  otherwise  compensated              hereunder) not in effect on the Amendment and Restatement Effective Date, or              shall  impose  upon  such  Issuing  Bank  any  unreimbursed  loss,  cost  or  expense              which was not applicable on the Amendment and Restatement Effective Date and              which such Issuing Bank in good faith deems material to it;                           (2)   the  issuance  of  the  Letter  of  Credit  would  violate  one  or              more  policies  of  the  applicable  Issuing  Bank  applicable  to  letters  of  credit              generally;                           (3)   except  as  otherwise  agreed  by  Administrative  Agent  and              the applicable Issuing Bank, the Letter of Credit is in an initial stated amount less              than $500,000, in the case of a commercial Letter of Credit, or $100,000, in the              case of a standby Letter of Credit;                            (4)   the applicable Issuing Bank does not as of the issuance date              of the requested Letter of Credit issue Letters of Credit in the requested currency;              or                           (5)   any Revolving Lender is at that time a Defaulting Lender,              unless  the  applicable  Issuing  Bank  is  satisfied  that  the  participations  in  any              existing  Letters  of  Credit  as  well  as  the  new,  extended,  renewed  or  increased                                       -75-                                           105376510    

 

               Letter  of  Credit  has  been  or  will  be  fully  allocated  among  the Non-Defaulting              Lenders  in  a  manner  consistent  with  Section  2.22(a)(iii)  and  such  Defaulting              Lender shall not participate therein except to the extent such Defaulting Lender’s              participation  has  been  or  will  be  fully  Cash  Collateralized  in accordance  with              Section 2.22(d).                     (iv)  No Issuing Bank shall amend any Letter of Credit if such Issuing       Bank would not be permitted at such time to issue the Letter of Credit in its amended       form under the terms hereof.                    (v)   No Issuing Bank shall be under any obligation to amend any Letter       of Credit if (1) such Issuing Bank would not have any obligation at such time to issue the       Letter of Credit in its amended form under the terms hereof, or (2) the beneficiary of the       Letter of Credit does not accept the proposed amendment to the Letter of Credit.                    (vi)  Each  Issuing  Bank  shall  act  on  behalf  of  the  Revolving  Lenders       with respect to any Letters of Credit issued by it and the documents associated therewith,       and  each  Issuing  Bank  shall  have  all  of  the  benefits  and  immunities  (1)  provided  to       Administrative Agent in Section 9 with respect to any acts taken or omissions suffered by        such  Issuing  Bank  in  connection  with  Letters  of  Credit  issued  by  it  or  proposed  to  be        issued by it and Issuer Documents pertaining to such Letters of Credit as fully as if the        term  “Administrative  Agent”  as  used  in  Section  9  included  the  Issuing  Banks  with        respect to such acts or omissions, and (2) as additionally provided herein with respect to        the Issuing Banks.               (b)   Procedures  for  Issuance  and  Amendment  of  Letters  of  Credit;  Auto- Extension Letters of Credit.                      (i)   Each Letter of Credit shall be issued or amended, as the case may        be, upon the request of Company delivered to the applicable Issuing Bank (with a copy to        Administrative Agent) in the form of an Issuance Notice and Letter of Credit Application,        appropriately  completed  and  signed  by  an  Authorized  Officer  of Company.   Such        Issuance  Notice  and  Letter  of  Credit  Application  may  be  sent  by  facsimile,  by  United        States mail, by overnight courier, by electronic transmission using the system provided        by the applicable Issuing Bank, by personal delivery or by any other means acceptable to        such  Issuing  Bank.   Such  Issuance  Notice  and  Letter  of  Credit  Application  must  be        received by the applicable Issuing Bank and Administrative Agent not later than 12:00        p.m. at least two (2) Business Days (or such later date and time as Administrative Agent,        such Issuing Bank and Company may agree in a particular instance in their reasonable        discretion) prior to the proposed issuance date or date of amendment, as the case may be,        and the timing of submission of the Letter of Credit Application with respect to an IRB        L/C shall be as determined by such Issuing Bank and Company (not to exceed five (5)        Business Days prior to the proposed issuance date or date of amendment).  In the case of        a request for an initial issuance of a Letter of Credit, such Letter of Credit Application        shall  specify  in  form  and  detail  satisfactory  to  the  applicable  Issuing  Bank:  (A)  the        proposed issuance date of the requested Letter of Credit (which shall be a Business Day);        (B)  the  amount  and  currency  thereof;  (C)  the  expiry  date  thereof; (D) the name and                                       -76-                                           105376510    

 

         address of the beneficiary thereof; (E) the documents to be presented by such beneficiary        in case of any drawing thereunder; (F) the full text of any certificate to be presented by        such  beneficiary  in  case  of  any drawing  thereunder; (G) the  purpose and  nature of  the        requested  Letter  of  Credit;  and  (H)  such  other  matters  as  such Issuing  Bank  may        reasonably require.  In the case of a request for an amendment of any outstanding Letter        of Credit, such Letter of Credit Application shall specify in form and detail satisfactory to        the applicable Issuing Bank (1) the Letter of Credit to be amended; (2) the proposed date        of amendment thereof (which shall be a Business Day); (3) the nature of the proposed        amendment;  and  (4)  such  other  matters  as  such  Issuing  Bank  may reasonably  require.         Additionally, Company shall furnish to the applicable Issuing Bank and Administrative        Agent  such  other  documents  and  information  pertaining  to  such  requested  Letter  of        Credit issuance or amendment, including any Issuer Documents, as such Issuing Bank or        Administrative Agent may reasonably require.                     (ii)  Promptly after receipt of any Issuance Notice and Letter of Credit        Application,  the  applicable  Issuing  Bank  will  confirm  with  Administrative  Agent  (by        telephone or in writing) that Administrative Agent has received a copy of such Issuance        Notice and Letter of Credit Application from Company and, if not, the applicable Issuing        Bank  will  provide  Administrative  Agent  with  a  copy  thereof.   Unless  the  applicable        Issuing  Bank  has  received  written  notice  from  any  Revolving  Lender,  Administrative        Agent or any Credit Party, at least one (1) Business Day prior to the requested date of        issuance  or  amendment  of  the  applicable  Letter  of  Credit,  that one  or  more  applicable        conditions contained in Section 3.2 shall not then be satisfied, then, subject to the terms        and conditions hereof, such Issuing Bank shall, on the requested date, issue a Letter of        Credit  for  the  account  of  Company  (or  the  applicable  Subsidiary)  or  enter  into  the        applicable amendment, as the case may be, in each case in accordance with such Issuing        Bank’s usual and customary business practices.  Immediately upon the issuance of each        Letter of Credit, each Revolving Lender shall be deemed to, and hereby irrevocably and        unconditionally agrees to, purchase from such Issuing Bank a risk participation in such        Letter of Credit in an amount equal to the product of such Revolving Lender’s Pro Rata        Share of the Revolving Commitments times the amount of such Letter of Credit.                    (iii) If  Company  so  requests  in  any  applicable  Letter  of  Credit        Application,  the  applicable  Issuing  Bank  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        such  Issuing  Bank  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 such Issuing Bank, Company shall not be required       to make a specific request to such Issuing Bank for any such extension.  Once an Auto-      Extension  Letter  of  Credit  has  been  issued,  the  Revolving  Lenders shall be deemed to       have authorized (but may not require) such Issuing Bank to permit the extension of such       Letter of Credit at any time to an expiry date not later than the Letter of Credit Expiration       Date (unless all the Requisite Class Lenders of Revolving Commitments then in effect                                        -77-                                           105376510    

 

         have  approved  such  expiry  date  and  such  Issuing  Bank  shall  be  satisfied with the        arrangements with respect to the period commencing on the Letter of Credit Expiration        Date and ending on such expiry date); provided, however, that such Issuing Bank shall        not permit any such extension if (A) such Issuing Bank 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  (by  reason  of  the  provisions  of        paragraph (ii) or (iii) of Section 2.4(a) or otherwise), 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 Administrative Agent that the Requisite        Class Lenders of Revolving Commitments then in effect have elected not to permit such        extension,  and  directing  such  Issuing  Bank  not  to  permit  such  extension  or  (2)  from        Administrative  Agent,  any  Revolving  Lender  or  Company  that  one  or  more  of  the        applicable  conditions  specified  in  Section  3.2  is  not  then  satisfied  and,  in  each  case,        directing such Issuing Bank not to permit such extension.                     (iv)  If  Company  so  requests  in  any  applicable  Letter  of  Credit        Application, the applicable Issuing Bank may, in its sole discretion, agree to issue an IRB        L/C  that  permits  the  automatic  reinstatement  of  all  or  a  portion  of  the  stated  amount        thereof  after  any  drawing  thereunder  (each,  an  “Auto-Reinstatement  IRB  Letter  of        Credit”).   Unless  otherwise  directed  by  such  Issuing  Bank,  Company  shall  not  be        required to make a specific request to such Issuing Bank to permit such reinstatement.         Once an Auto-Reinstatement IRB Letter of Credit has been issued, except as provided in        the following sentence, the Revolving Lenders shall be deemed to have authorized (but        may  not  require)  such  Issuing  Bank  to  reinstate  all  or  a  portion  of  the  stated  amount        thereof  in  accordance  with  the  provisions  of  such  IRB  L/C.   Notwithstanding  the        foregoing, if such Auto-Reinstatement IRB Letter of Credit permits such Issuing Bank to        decline  to  reinstate  all  or  any  portion  of  the  stated  amount  thereof  after  a  drawing        thereunder by giving notice of such non-reinstatement within a specified number of days        after such drawing (the “IRB  L/C  Non-Reinstatement  Deadline”), such Issuing Bank        shall not permit such reinstatement if it has received a notice (which may be by telephone        or in writing) on or before the day that is seven (7) Business Days before the IRB L/C        Non-Reinstatement  Deadline  (A)  from  Administrative  Agent  that  the  Requisite  Class        Lenders  of  Revolving  Commitments  then  in  effect  have  elected  not  to  permit  such        reinstatement or (B) from Administrative Agent, any Revolving Lender or Company that        one  or  more  of  the  applicable  conditions  specified  in  Section  3.2  is  not  then  satisfied        (treating such reinstatement as an Credit Extension for purposes of this clause) and, in        each case, directing such Issuing Bank not to permit such reinstatement.                    (v)   Promptly  after  its  delivery  of  any  Letter  of  Credit  or  any       amendment  to  a  Letter  of  Credit  to  an  advising  bank  with  respect  thereto  or  to  the       beneficiary  thereof,  the  applicable  Issuing  Bank  will  also  deliver  to  Company  and       Administrative Agent a true and complete copy of such Letter of Credit or amendment.              (c)   Drawings and Reimbursements; Funding of Participations.                    (i)   Upon receipt from the beneficiary of any Letter of Credit of any        notice of a drawing under such Letter of Credit, the applicable Issuing Bank shall notify                                       -78-                                           105376510    

 

         Company  and  Administrative  Agent  thereof.   In  the  case  of  a  Letter  of  Credit        denominated in an Alternative Currency, Company shall reimburse such Issuing Bank in        such Alternative Currency or, if mutually agreed by Company and such Issuing Bank, in        Dollars.  In the case of any such reimbursement in Dollars of a drawing under a Letter of        Credit denominated in an Alternative Currency, such Issuing Bank shall notify Company        of  the  Dollar  Equivalent  of  the amount  of  the  drawing  promptly following  the        determination thereof.  Not later than 11:00 a.m. (or, with respect to any IRB L/C, the        time set forth therein) on the date of any payment by the applicable Issuing Bank under a        Letter of Credit to be reimbursed in Dollars, or the Applicable Time on the date of any        payment by the applicable Issuing Bank under a Letter of Credit to be reimbursed in an        Alternative Currency (or, with respect to any IRB L/C, the time set forth therein) (each        such  date,  an  “Honor  Date”),  Company  shall  reimburse  such  Issuing  Bank  through        Administrative  Agent  in  an  amount  equal  to  the  amount  of  such  drawing  and  in  the        applicable  currency.  If  Company  does  not  reimburse  such  Issuing  Bank  by  such  time        (which, for the avoidance of doubt, shall not constitute an Event of Default pursuant to        Section 8.1(a) if such drawing is reimbursed from the proceeds of Revolving Loans in        accordance  with  this  Section  2.4(c)),  Administrative  Agent  shall  promptly  notify  each        Revolving  Lender  of  the  Honor  Date,  the  amount  of  the  unreimbursed  drawing        (expressed  in  Dollars  in  the  amount  of  the  Dollar  Equivalent  thereof  in  the  case  of  a        Letter  of  Credit  denominated  in  an  Alternative  Currency)  (the  “Unreimbursed        Amount”), and the amount of such Revolving Lender’s Pro Rata Share thereof.  In such        event, Company shall be deemed to have requested a borrowing of Revolving Loans to        be  disbursed  on  the  Honor  Date  in  an  amount  equal  to  the  Unreimbursed  Amount,        without regard to the minimum and multiples specified in Section 2.2 for the principal        amount of Revolving Loans. Any notice given by such Issuing Bank or Administrative        Agent  pursuant  to  this  Section  2.4(c)(i)  may  be  given  by  telephone  if  immediately        confirmed in writing; provided that the lack of such an immediate confirmation shall not        affect the conclusiveness or binding effect of such notice.                     (ii)  Each Revolving Lender shall upon any notice pursuant to Section        2.4(c)(i)  make  funds  available  (and  Administrative  Agent  may  apply  Cash  Collateral        provided for this purpose) for the account of the applicable Issuing Bank, in Dollars, at       Administrative Agent’s Principal Office for Dollar-denominated payments in an amount       equal to its Pro Rata Share of the Unreimbursed Amount not later than 1:00 p.m. on the        Business Day specified in such notice by Administrative Agent, whereupon, subject to        the provisions of Section 2.4(c)(iii), each Revolving Lender that so makes funds available        shall  be  deemed  to  have  made  a  Revolving  Loan  to  Company  in  such  amount.         Administrative Agent shall remit the funds so received to the applicable Issuing Bank in        Dollars.                     (iii) With  respect  to  any  Unreimbursed  Amount  that  is  not  fully        refinanced by a borrowing of Base Rate Loans for any reason, Company shall be deemed        to have incurred from the applicable Issuing Bank an L/C Borrowing in the amount of the        Unreimbursed Amount that is not so refinanced, which L/C Borrowing shall be due and        payable on demand (together with interest) and shall bear interest at the Default Rate.  In        such event, each Revolving Lender’s payment to Administrative Agent for the account of                                        -79-                                           105376510    

 

         the  applicable  Issuing  Bank  pursuant  to  Section  2.4(c)(ii)  shall  be  deemed  payment  in        respect of its participation in such L/C Borrowing and shall constitute an L/C Advance        from  such  Revolving  Lender  in  satisfaction  of  its  participation  obligation  under  this        Section 2.4.                     (iv)  Until  each  Revolving  Lender  funds  its  Revolving  Loan  or  L/C        Advance pursuant to this Section 2.4(c) to reimburse the applicable Issuing Bank for any        amount drawn under any Letter of Credit, interest in respect of such Revolving Lender’s        Pro Rata Share of such amount shall be solely for the account of such Issuing Bank.                     (v)   Each Revolving Lender’s obligation to make Revolving Loans or        L/C Advances to reimburse the applicable Issuing Bank for amounts drawn under Letters        of Credit, as contemplated by this Section 2.4(c), shall be absolute and unconditional and        shall  not  be  affected  by  any  circumstance,  including  (A)  any  setoff,  counterclaim,        recoupment, defense or other right which such Revolving Lender may have against such        Issuing Bank, Company, any Subsidiary or any other Person for any reason whatsoever;        (B)  the  occurrence  or  continuance  of  a  Default  or  Event  of  Default,  or  (C)  any  other        occurrence, event or condition, whether or not similar to any of the foregoing.  No such        making of an L/C Advance shall relieve or otherwise impair the obligation of Company        to reimburse the applicable Issuing Bank for the amount of any payment made by such        Issuing Bank under any Letter of Credit, together with interest as provided herein.                     (vi)  If any Revolving Lender fails to make available to Administrative        Agent for the account of the applicable Issuing Bank any amount required to be paid by        such Revolving Lender pursuant to the foregoing provisions of this Section 2.4(c) by the        time  specified  in  Section  2.4(c)(ii),  then,  without  limiting  the  other  provisions  of  this        Agreement, the applicable Issuing Bank shall be entitled to recover from such Revolving        Lender  (acting  through  Administrative  Agent),  on  demand,  such  amount  with  interest        thereon for the period from the date such payment is required to the date on which such        payment  is  immediately  available  to  the  applicable  Issuing  Bank  at  a  rate  per  annum        equal  to  the  applicable  Overnight  Rate  from  time  to  time  in  effect,  plus  any        administrative,  processing  or  similar  fees  customarily  charged by  the  Issuing  Bank  in        connection with the foregoing.  If such Revolving Lender pays such amount (with interest        and  fees  as  aforesaid),  the  amount  so  paid  shall  constitute  such  Revolving  Lender’s        Revolving  Loan  included  in  the  relevant  borrowing  or  L/C  Advance  in  respect  of  the        relevant L/C Borrowing, as the case may be.  A certificate of the applicable Issuing Bank        submitted to any Revolving Lender (through Administrative Agent) with respect to any        amounts owing under this clause (vi) shall be conclusive absent manifest error.               (d)   Repayment of Participations.                       (i)   At any time after the applicable Issuing Bank has made a payment       under any Letter of Credit and has received from any Revolving Lender such Revolving       Lender’s L/C Advance in respect of such payment in accordance with Section 2.4(c), if        Administrative  Agent  receives  for  the  account  of  the  applicable  Issuing  Bank  any        payment  in  respect  of  the  related  Unreimbursed  Amount  or  interest  thereon  (whether        directly  from  Company  or  otherwise,  including  proceeds  of  Cash Collateral  applied                                       -80-                                           105376510    

 

         thereto by Administrative Agent), Administrative Agent will distribute to such Revolving        Lender its Pro Rata Share thereof in Dollars and in the same funds as those received by        Administrative Agent.                     (ii)  If any payment received by Administrative Agent for the account        of  the  applicable  Issuing  Bank  pursuant  to  Section  2.4(c)(i)  is required to be returned        under  any  of  the  circumstances  described  in  Section  10.10  (including  pursuant  to  any        settlement entered into by such Issuing Bank in its discretion), each Revolving Lender        shall pay to Administrative Agent for the account of the applicable Issuing Bank its Pro        Rata  Share thereof  on  demand  of  Administrative  Agent,  plus  interest thereon  from  the        date of such demand to the date such amount is returned by such Revolving Lender, at a        rate per annum equal to the applicable Overnight Rate from time to time in effect.  The        obligations of the Revolving Lenders under this clause shall survive the payment in full        of the Obligations and the termination of this Agreement.               (e)   Obligations Absolute.  The obligation of Company to reimburse an Issuing  Bank for each drawing under each Letter of Credit and to repay each L/C Borrowing shall be  absolute, unconditional and irrevocable, and shall be paid strictly in accordance with the terms of  this Agreement under all circumstances, including the following:                     (i)   any lack of validity or enforceability of such Letter of Credit, this       Agreement, or any other Credit Document;                    (ii)  the existence of any claim, counterclaim, setoff, defense or other        right that Company or any Subsidiary may have at any time against any beneficiary or        any transferee of such Letter of Credit (or any Person for whom any such beneficiary or       any such transferee may be acting), such Issuing Bank or any other Person, whether in       connection with this Agreement, the transactions contemplated hereby or by such Letter       of Credit or any agreement or instrument relating thereto, or any unrelated transaction;                    (iii) any  draft,  demand,  certificate  or  other  document  presented  under       such  Letter  of  Credit  proving  to  be  forged,  fraudulent,  invalid  or  insufficient  in  any       respect or any statement therein being untrue or inaccurate in any respect; or any loss or       delay  in  the  transmission  or  otherwise  of  any  document  required  in  order  to  make  a       drawing under such Letter of Credit;                    (iv)  waiver  by  such  Issuing  Bank  of  any  requirement  that  exists  for       such Issuing Bank’s protection and not the protection of Company or any waiver by such       Issuing Bank which does not in fact materially prejudice Company;                    (v)   honor  of  a  demand  for  payment  presented  electronically  even  if       such Letter of Credit requires that demand be in the form of a draft;                    (vi)  any payment made by such Issuing Bank in respect of an otherwise       complying item presented after the date specified as the expiration date of, or the date by       which documents must be received under such Letter of Credit if presentation after such       date is authorized by the UCC, the ISP or the UCP, as applicable;                                       -81-                                           105376510    

 

                       (vii) any  payment  by  such  Issuing  Bank  under  such  Letter  of  Credit         against presentation of a draft or certificate that does not strictly comply with the terms of         such Letter of Credit; or any payment made by such Issuing Bank under such Letter of         Credit  to  any  Person  purporting  to  be  a  trustee  in  bankruptcy, debtor-in-possession,         assignee  for  the  benefit  of  creditors,  liquidator,  receiver  or other  representative  of  or         successor  to  any  beneficiary  or  any  transferee  of  such  Letter  of  Credit,  including  any         arising in connection with any proceeding under any Debtor Relief Law;                      (viii) any  adverse  change  in  the  relevant  exchange  rates  or  in  the         availability of the relevant Alternative Currency to Company or any Subsidiary or in the         relevant currency markets generally; or                      (ix)  any  other  circumstance  or  happening  whatsoever,  whether  or  not         similar to any of the foregoing, including any other circumstance that might otherwise         constitute a defense available to, or a discharge of, Company or any Subsidiary.               Company  shall  promptly  examine  a  copy  of  each  Letter  of  Credit and  each  amendment thereto that is delivered to it and, in the event of any claim of noncompliance with  Company’s  instructions  or  other  irregularity,  Company  will  immediately  notify  the  applicable  Issuing Bank.  Company shall be conclusively deemed to have waived any such claim against the  applicable Issuing Bank and its correspondents unless such notice is given as aforesaid.               (f)   Role of Issuing Bank.  Each Revolving Lender and Company agree that, in   paying any drawing under a Letter of Credit, each Issuing Bank shall not have any responsibility   to obtain any document (other than any sight draft, certificates and documents expressly required   by  the  Letter  of  Credit)  or  to  ascertain  or  inquire  as  to  the  validity  or  accuracy  of  any  such   document or the authority of the Person executing or delivering any such document.  None of the   Issuing  Banks,  Administrative  Agent,  any  of  their  respective  Related  Parties  nor  any   correspondent,  participant  or  assignee  of  the  Issuing  Banks  shall  be  liable  to  any  Revolving   Lender  for  (i)  any  action  taken  or  omitted  in  connection  herewith  at  the  request  or  with  the   approval of the Revolving Lenders or the Requisite Class Lenders of Revolving Commitments   then in effect, as applicable; (ii) any action taken or omitted in the absence of gross negligence,   bad faith or willful misconduct; or (iii) the due execution, effectiveness, validity or enforceability   of any document or instrument related to any Letter of Credit or Issuer Document.  Company   hereby assumes all risks of the acts or omissions of any beneficiary or transferee with respect to   its use of any Letter of Credit; provided, however, that this assumption is not intended to, and   shall  not,  preclude  Company’s  pursuing  such  rights  and  remedies  as  it  may  have  against  the   beneficiary  or  transferee  at  law  or  under  any  other  agreement.   None  of  the  Issuing  Banks,   Administrative Agent, any of their respective Related Parties nor any correspondent, participant   or assignee of the Issuing Banks shall be liable or responsible for any of the matters described in   clauses (i) through (ix) of Section 2.4(e); provided, however, that anything in such clauses to the   contrary notwithstanding, Company may have a claim against the Issuing Banks, and the Issuing   Bank may be liable to Company, to the extent, but only to the extent, of any direct, as opposed to   consequential or exemplary, damages suffered by Company which Company proves were caused   by such Issuing Bank’s willful misconduct or gross negligence or such Issuing Bank’s willful   failure to pay under any Letter of Credit after the presentation to it by the beneficiary of a sight   draft  and  certificate(s)  strictly  complying  with  the  terms  and conditions  of  a  Letter  of  Credit                                        -82-                                             105376510     

 

     (except to the extent such failure is required or permitted under any law, order, or practice that is   required or permitted to be applied to any Letter of Credit or this Agreement, including the law   or any order of a jurisdiction where such Issuing Bank or the beneficiary is located, the practice   stated  in  the  ISP  or  UCP,  as  applicable,  or  in  the  decisions,  opinions,  practice  statements,  or   official commentary of the ICC Banking Commission, the Bankers Association for Finance and   Trade  -  International  Financial  Services  Association  (BAFT-IFSA),  or  the  Institute  of   International Banking Law & Practice, whether or not any Letter of Credit chooses such law or   practice).  In furtherance and not in limitation of the foregoing, such Issuing Bank may, in its   sole discretion, accept documents that appear on their face to be in order, without responsibility   for further investigation, regardless of any notice or information to the contrary, and such Issuing   Bank  shall  not  be  responsible  for  the  validity  or  sufficiency  of  any  instrument  transferring  or   assigning or purporting to transfer or assign a Letter of Credit or the rights or benefits thereunder   or proceeds thereof, in whole or in part, which may prove to be invalid or ineffective for any   reason.  The Issuing Banks may send a Letter of Credit or conduct any communication to or from   the beneficiary via the Society for Worldwide Interbank Financial Telecommunication (known   as  “SWIFT”)  message  or  overnight  courier,  or  any  other  commercially  reasonable  means  of   communicating with a beneficiary.                (g)   Applicability of ISP and UCP; Limitation of Liability.  Unless otherwise   expressly agreed by an Issuing Bank and Company when a Letter of Credit is issued (including   any such agreement applicable to an Existing Letter of Credit), (i) the rules of the ISP shall apply  to each standby Letter of Credit, and (ii) the rules of the UCP shall apply to each commercial  Letter of Credit.  Notwithstanding the foregoing, the Issuing Banks shall not be responsible to  Company  for,  and  such  Issuing  Bank’s  rights  and  remedies  against  Company  shall  not  be   impaired by, any action or inaction of such Issuing Bank required or permitted under any law,   order,  or  practice  that  is  required  or  permitted  to  be  applied to  any  Letter  of  Credit  or  this   Agreement,  including  the  law  or  any  order  of  a  jurisdiction  where  such  Issuing  Bank  or  the   beneficiary is located, the practice stated in the ISP or UCP, as applicable, or in the decisions,   opinions,  practice  statements,  or  official  commentary  of  the  ICC  Banking  Commission,  the   Bankers  Association  for  Finance  and  Trade  -  International  Financial  Services  Association   (BAFT-IFSA),  or  the  Institute  of  International  Banking  Law  &  Practice,  whether  or  not  any   Letter of Credit chooses such law or practice.                (h)   Reporting of Letter of Credit Information.  For so long as any Letter of   Credit issued by an Issuing Bank other than Administrative Agent is outstanding, such Issuing   Bank shall deliver to Administrative Agent on the last Business Day of each calendar month, and   on each date that an Credit Extension occurs with respect to any such Letter of Credit, a report in   the form satisfactory to Administrative Agent, appropriately completed with the information for   every  outstanding  Letter  of  Credit  issued  by  such  Issuing  Bank.   Administrative  Agent  shall   deliver to the Lenders on a monthly basis a report of all outstanding Letters of Credit.                (i)   Letters of Credit Issued for Subsidiaries.  Notwithstanding that a Letter of   Credit issued or outstanding hereunder is in support of any obligations of, or is for the account  of, a Subsidiary, Company shall be obligated to reimburse the applicable Issuing Bank hereunder  for any and all drawings under such Letter of Credit.  Company hereby acknowledges that the  issuance of Letters of Credit for the account of Subsidiaries inures to the benefit of Company,                                         -83-                                             105376510     

 

   and  that  Company’s  business  derives  substantial  benefits  from  the  businesses  of  such  Subsidiaries.         2.5   Pro Rata Shares.  All Loans shall be made, and all participations purchased, by  Lenders  simultaneously  and  proportionately  to  their  respective Pro Rata Shares, it being  understood that no Lender shall be responsible for any default by any other Lender in such other  Lender’s  obligation  to  make  a  Loan  requested  hereunder  or  purchase  a  participation  required  hereby nor shall any Term Loan Commitment or any Revolving Commitment of any Lender be  increased  or  decreased  as  a  result  of  a  default  by  any  other  Lender  in  such  other  Lender’s  obligation to make a Loan requested hereunder or purchase a participation required hereby.         2.6   Use of Proceeds.  The proceeds of the Revolving Loans and Swing Line Loans  shall be applied by Company (i) for working capital and general corporate purposes of Company  and  its  Subsidiaries,  including  permitted  Consolidated  Capital Expenditures,  Permitted  Acquisitions,  Investments,  Restricted  Junior  Payments  or  other  purposes  expressly  permitted  under  this  Agreement  and  (ii)  to  refinance  certain  Indebtedness  of  the  Company  incurred  in  connection  with  the  extension  and  renewal  of  the  revolving  credit  extensions  under  the  First  Amended  and  Restated  Credit  Agreement  and  to  pay  related  fees  and  expenses  in  connection  therewith.  The proceeds of the Term Loans funded on the Amendment and Restatement Date  shall be used to refinance certain Indebtedness of the Company incurred in connection with the  extension and renewal of the revolving credit extensions and Initial Term Loans incurred under  the  First  Amended  and  Restated  Credit  Agreement  and  to  pay  related  fees  and  expenses  in  connection  therewith.   The  proceeds  of  the  Letters  of  Credit  shall  be  used  by  Company  to  support  Company’s  and  its  Subsidiaries’  obligations  under  the  Projects  and  other  Contractual  Obligations of Company and its Subsidiaries and other general corporate purposes, but shall in  no event be used to make or facilitate any Investment or Restricted Junior Payment not otherwise  permitted hereunder.  No portion of the proceeds of any Credit Extension shall be used in any  manner that causes or might cause such Credit Extension or the application of such proceeds to  violate Regulation U or Regulation X of the Board of Governors of the Federal Reserve System  or any other regulation thereof or to violate the Exchange Act.         2.7   Evidence of Debt; Lenders’ Books and Records; Notes.               (a)   Lenders’  Evidence  of  Debt.   Each  Lender  shall  maintain  on  its  internal  records  an  account  or  accounts  evidencing  the  Obligations  of  Company  to  such  Lender,  including the amounts of the Loans made by it and each repayment and prepayment in respect  thereof.   Any  such  recordation  shall  be  conclusive  and  binding on  Company,  absent  manifest  error; provided that the failure to make any such recordation, or any error in such recordation,  shall  not  affect  any  Lender’s  Commitments  or  Company’s  Obligations  in  respect  of  any  applicable Loans; and provided further, in the event of any inconsistency between the Register  and any Lender’s records, the recordations in the Register shall govern.               (b)   Notes.  If so requested by any Lender by written notice to Company (with  a  copy  to  Administrative  Agent)  at  least  two  (2) Business  Days prior  to  the  Amendment  and  Restatement Effective Date, or at any time thereafter, Company shall execute and deliver to such  Lender (and/or, if applicable and if so specified in such notice, to any Person who is an assignee  of such Lender pursuant to Section 10.6) on the Amendment and Restatement Effective Date (or,                                       -84-                                           105376510    

 

   if such notice is delivered after the Amendment and Restatement Effective Date, promptly after  Company’s  receipt  of  such  notice)  a  Note  or  Notes  to  evidence  such  Lender’s  Term  Loan,  Revolving Loan or Swing Line Loan, as the case may be.                                             -85-                                           105376510    

 

                           2.8   Interest on Loans.                (a)   Except as otherwise set forth herein, each Class of Loan shall bear interest  on  the  unpaid  principal  amount  thereof  from  the  date  made  through  repayment  (whether  by  acceleration or otherwise) thereof as follows:                     (i)   in  the  case  of  Revolving  Loans  that  are  denominated  in  Dollars,         Swing Line Loans and Term Loans:  (1) if a Base Rate Loan, at the Base Rate plus the         Applicable  Margin;  or  (2) if  a  Eurodollar  Rate  Loan,  at  the  Eurodollar  Rate  plus  the         Applicable Margin; and                      (ii)  in  the  case  of  Revolving  Loans  that  are  denominated  in  an         Alternative Currency, at the Eurodollar Rate plus the Applicable Margin.                (b)   The  basis  for  determining  the  rate  of  interest  with  respect  to any  Loan   (except a Swing Line Loan which can be made and maintained as Base Rate Loans only), and the   Interest  Period  with  respect  to  any  Eurodollar  Rate  Loan,  shall  be  selected  by  Company  and   notified  to  Administrative  Agent  pursuant  to  the  applicable  Funding  Notice  or   Conversion/Continuation Notice, as the case may be.  If on any day a Loan is outstanding with   respect to which a Funding Notice or Conversion/Continuation Notice has not been delivered to   Administrative  Agent  in  accordance  with  the  terms  hereof  specifying  the  applicable  basis  for   determining the rate of interest, then for that day such Loan shall be (i) in the case of a Loan that   is denominated in Dollars, a Base Rate Loan, or (ii) in the case of a Loan that is denominated in   an Alternative Currency, a Eurodollar Loan with a one (1) month Interest Period.                (c)   In  connection  with  Eurodollar  Rate  Loans  there  shall  be  no  more than   eight (8) Interest Periods outstanding at any time.  In the event Company fails to specify between  a  Base  Rate  Loan  or  a  Eurodollar  Rate  Loan  in  the  applicable  Funding  Notice  or  Conversion/Continuation Notice, such Loan (if outstanding as a Eurodollar Rate Loan) will be  automatically converted into a Base Rate Loan on the last day of the then-current Interest Period  for such Loan (or if outstanding as a Base Rate Loan will remain as, or (if not then outstanding)  will be made as, a Base Rate Loan).  In the event Company fails to specify an Interest Period for  any Eurodollar Rate Loan (including any Loan denominated in an Alternative Currency) in the  applicable  Funding  Notice  or  Conversion/Continuation  Notice,  Company  shall  be  deemed  to  have selected an Interest Period of one (1) month.  Administrative Agent shall promptly notify  Company and the Lenders of the interest rate applicable to any Interest Period for Eurodollar  Rate  Loans  upon  determination  of  such  interest  rate.   At  any  time  that  Base  Rate  Loans  are  outstanding, Administrative Agent shall notify Company and the Lenders of any change in Bank  of  America’s  prime  rate  used  in  determining  the  Base  Rate  promptly  following  the  public  announcement of such change.               (d)   Interest  payable  pursuant  to  Section 2.8(a)  shall  be  computed  (i) in  the   case of Base Rate Loans on the basis of a 365- day or 366-day year, as the case may be, and   (ii) in the case of Eurodollar Rate Loans, on the basis of a 360-day year, in each case for the   actual number of days elapsed in the period during which it accrues.  In computing interest on                                        -86-                                             105376510     

 

     any Loan, the date of the making of such Loan or the first day of an Interest Period applicable to   such Loan or, with respect to a Term Loan, the last Interest Payment Date with respect to such   Term Loan or, with respect to a Base Rate Loan being converted from a Eurodollar Rate Loan,   the date of conversion of such Eurodollar Rate Loan to such Base Rate Loan, as the case may be,   shall  be  included,  and  the  date  of  payment  of  such  Loan  or  the expiration  date  of  an  Interest   Period  applicable  to  such  Loan  or,  with  respect  to  a  Base  Rate Loan  being  converted  to  a  Eurodollar Rate Loan, the date of conversion of such Base Rate Loan to such Eurodollar Rate  Loan, as the case may be, shall be excluded; provided, if a Loan is repaid on the same day on   which it is made, one (1) day’s interest shall be paid on that  Loan.  With respect to all Non-  LIBOR  Quoted  Currencies,  the  calculation  of  the  applicable  interest  rate  shall  be  reasonably   determined in accordance with market practice.                (e)   Except as otherwise set forth herein, interest on each Loan (i) shall accrue  on a daily basis and shall be payable in arrears on each Interest Payment Date with respect to  interest accrued on and to each such payment date; (ii) shall accrue on a daily basis and shall be  payable in arrears upon any prepayment of that Loan, whether voluntary or mandatory, to the  extent accrued on the amount being prepaid; and (iii) shall accrue on a daily basis and shall be  payable  in  arrears  at  maturity  of  the  Loans,  including  final  maturity  of  the  Loans;  provided,   however, with respect to any voluntary prepayment of a Base Rate Loan, accrued interest shall   instead be payable on the applicable Interest Payment Date.                (f)   Company  agrees  to  pay  to  each  Issuing  Bank,  with  respect  to  drawings   honored under any Letter of Credit issued by such Issuing Bank, interest on the amount paid by   such  Issuing  Bank  in  respect  of each  such  honored  drawing  from the  date  such  drawing  is   honored  to  but  excluding  the  date  such  amount  is  reimbursed  by or  on  behalf  of  Company   (including any such reimbursement out of the proceeds of any Revolving Loans), at a rate equal   to (i) for the period from the date such drawing is honored to but excluding the date such amount   is  reimbursed  by  or  on  behalf  of Company  (including  any  such  reimbursement  out  of  the   proceeds of any Revolving Loans), the rate of interest otherwise payable hereunder with respect   to Revolving Loans that are Base Rate Loans, or (ii) if applicable in accordance with Section   2.4(c)(iii), the Default Rate.                (g)   Interest payable pursuant to Sections 2.8(f) shall be computed on the basis   of  a 365/366-day  year  for  the  actual  number  of  days  elapsed  in the  period  during  which  it   accrues, and shall be payable on demand or, if no demand is made, on the date on which the   related  drawing  under  a  Letter  of  Credit  is  reimbursed  in  full.   Promptly  upon  receipt  by  an   Issuing  Bank  of  any  payment  of  interest  pursuant  to  Section 2.8(f),  such  Issuing  Bank  shall   distribute to each Revolving Lender, out of the interest received by such Issuing Bank in respect   of the period from the date such drawing is honored to but excluding the date on which such   Issuing Bank is reimbursed for the amount of such drawing (including any such reimbursement   out  of  the  proceeds  of  any  Revolving  Loans),  the  amount  that  such  Revolving  Lender  would   have been entitled to receive in respect of the Letter of Credit Fee that would have been payable   in respect of such Letter of Credit for such period if no drawing had been honored under such  Letter of Credit.         2.9   Conversion/Continuation.                                         -87-                                             105376510     

 

               (a)   Subject  to  Section 2.18  and  (with  respect  to  continuations  of, or  conversions into, Eurodollar Rate Loans whether in Dollars or any Alternative Currency) so long  as  no  Event  of  Default  shall  have  occurred  and  then  be  continuing,  Company  shall  have  the  option:                     (i)   to  convert  at  any  time  all  or  any  part  of  any  Term  Loan  or        Revolving Loan equal to $3,000,000 and integral multiples of $500,000 in excess of that        amount from one Type of Loan to another Type of Loan; provided, a Eurodollar Rate        Loan may only be converted on the expiration of the Interest Period applicable to such        Eurodollar Rate Loan unless Company shall pay all amounts due under Section 2.18 in        connection with any such conversion; or                     (ii)  upon  the  expiration  of  any  Interest  Period  applicable  to  any        Eurodollar Rate Loan, to continue all or any portion of such Loan equal to $3,000,000        and integral multiples of $500,000 in excess of that amount as a Eurodollar Rate Loan.               (b)   Each conversion or continuation pursuant to this Section 2.9 shall be made  upon  the  Company’s  irrevocable  notice  to  Administrative  Agent, which  may  be  given  by  (A)  telephone, or (B) a Conversion/Continuation Notice; provided that any telephone notice must be  confirmed  immediately  by  delivery  to  Administrative  Agent  of  a Conversion/Continuation  Notice.  Each such notice must be received by Administrative Agent no later than 11:00 a.m. at  least  one  (1)  Business  Day  in  advance  of  the  proposed  conversion  date  (in  the  case  of  a  conversion to a Base Rate Loan), at least three (3) Business Days in advance of the proposed  conversion/continuation date (in the case of a conversion to, or a continuation of, a Eurodollar  Rate  Loan  denominated  in  Dollars)  and  at  least  four  (4)  Business  Days  in  advance  of  the  proposed  conversion/continuation date  (in  the  case  of  a  conversion  to,  or  a  continuation  of,  a  Eurodollar Rate Loan denominated in an Alternative Currency).  Except as otherwise provided  herein, a Conversion/Continuation Notice for conversion to, or continuation of, any Eurodollar  Rate Loans shall be irrevocable on and after the related Interest Rate Determination Date, and  Company shall be bound to effect a conversion or continuation in accordance therewith.                 (c)   Notwithstanding anything to the contrary in this Agreement, any Lender  may  exchange,  continue  or  rollover  all  or  a  portion  of  its  Loans  in  connection  with  any  refinancing,  extension,  loan  modification  or  similar  transaction  permitted  by  the  terms  of  this  Agreement,  pursuant  to  a  cashless  settlement  mechanism  approved  by  the  Company,  the  Administrative Agent, and such Lender.         2.10  Default Interest.  The principal amount of all Loans, the Unreimbursed Amount  of  any  Letter  of  Credit  and  any Letter  of  Credit  Fees  (in  each case)  not  paid  when  due  shall  thereafter  bear  interest (including  post-petition interest in  any  proceeding  under  Debtor  Relief  Laws) payable on demand at the Default Rate.  Payment or acceptance of the increased rates of  interest  provided  for  in  this  Section 2.10  is  not  a  permitted  alternative  to  timely  payment  and  shall not constitute a waiver of any Event of Default or otherwise prejudice or limit any rights or  remedies of Administrative Agent or any Lender.         2.11  Fees; Premium.                                        -88-                                           105376510    

 

                 (a)   Company agrees to pay to Administrative Agent for the ratable benefit of   each Lender having Revolving Exposure:                      (i)   commitment  fees  equal  to  (1) the  average  of  the  daily  difference         between  (A) the  applicable  Revolving  Commitments,  and  (B) the  Total  Utilization  of         such  Revolving  Commitments  (disregarding  item (ii)  of  the  definition  thereof),  times         (2) the applicable Commitment Fee Rate; and                       (ii)  letter  of  credit  fees  (“Letter  of  Credit  Fees”)  equal  to  (1) the         Applicable Margin for the applicable Revolving Loans that are Eurodollar Rate Loans,         times  (2) the  Dollar  Equivalent  of  the  average  aggregate  daily maximum  amount         available  to  be  drawn  under  all  such  Letters  of  Credit  (regardless  of  whether  any         conditions for drawing could then be met and determined as of the close of business on         any date of determination).                  (b)   Company agrees to pay directly to each Issuing Bank, for its own account,   the following fees:                      (i)   a  fronting  fee  equal to 0.15%  per  annum,  on  the  face  amount  of         each Letter of Credit issued by such Issuing Bank; and                      (ii)  such  documentary  and  processing  charges  for  any  issuance,         amendment,  transfer  or  payment  of  a  Letter  of  Credit  as  are  in accordance  with  such         Issuing  Bank’s  standard  schedule  for  such  charges  and  as  in  effect  (and  delivered  to         Company) at the time of such issuance, amendment, transfer or payment, as the case may         be.                    (c)   All  fees  referred  to  in  Sections 2.11(a)  shall  be  paid  to  Administrative   Agent at its Principal Office and upon receipt, Administrative Agent shall promptly distribute to   each Lender its Pro Rata Share thereof.                (d)   All fees referred to in Sections 2.11(a) and (b)(i) shall be calculated on the   basis  of  a 360-day  year  and  the  actual  number  of  days  elapsed.   All  fees  referred  to  in   Sections 2.11(a)  and  (b)(i) shall be  payable  by  Company  quarterly  in  arrears  on  March 31,   June 30, September 30 and December 31 of each year during the Revolving Commitment Period,   commencing  on  the  first  such  date  to  occur  after  the  Amendment and  Restatement  Effective   Date,  and  on  the  Revolving  Commitment  Termination  Date  with  respect  to  each  Revolving   Lender.                 (e)   In addition to any of the foregoing fees, Company agrees to pay to Agents   and Lenders such other fees in the amounts and at the times separately agreed upon.         2.12  Scheduled Payments.  The principal amounts of the Term Loans shall be repaid  in consecutive quarterly installments (each, an “Installment”) in the aggregate amounts set forth  below  on  the  last  Business  Day  of  each  Fiscal  Quarter  (each,  an “Installment  Date”),  commencing September 28, 2018:                                           -89-                                             105376510     

 

                      Installment Dates (last Installments of                       Business Day of)       Term Loans                   September 2018          $2,500,000.00                   December 2018           $2,500,000.00                   March 2019              $2,500,000.00                   June 2019               $2,500,000.00                   September 2019          $2,500,000.00                   December 2019           $2,500,000.00                   March 2020              $2,500,000.00                   June 2020               $2,500,000.00                   September 2020          $2,500,000.00                   December 2020           $2,500,000.00                   March 2021              $2,500,000.00                   June 2021               $2,500,000.00                   September 2021          $2,500,000.00                   December 2021           $2,500,000.00                   March 2022              $2,500,000.00                   June 2022               $2,500,000.00                   September 2022          $2,500,000.00                   December 2022           $2,500,000.00                   March 2023              $2,500,000.00                   June 2023               $2,500,000.00                   Term Loan Maturity Date  Remainder    provided that in the event any Additional Term Loans are made, such Additional Term Loans  shall be repaid on each Installment Date occurring on or after the applicable Increased Amount  Date, in an amount equal to (i) the aggregate principal amount of such Additional Term Loans,  times (ii) the ratio (expressed as a percentage) of (y) the amount of all other Term Loans being  repaid  on  such  date  and  (z) the  total  aggregate  principal  amount  of  all  other  Term  Loans  outstanding on such Increased Amount Date (and which shall include, at Company’s election,  such adjustments to the Term Loans as are necessary in order to provide for “fungibility” of any  Additional Term Loans).         Notwithstanding the foregoing, (x) such Installments shall be reduced in connection with  any voluntary or mandatory prepayments of the Term Loans in accordance with Sections 2.13,  2.14  and 2.15,  as  applicable;  and  (y) the  Term  Loans,  together with  all  other  amounts  owed  hereunder with respect thereto, shall, in any event, be paid in full no later than the Term Loan  Maturity Date.                                        -90-                                           105376510    

 

         2.13  Voluntary Prepayments/Commitment Reductions.               (a)   Voluntary Prepayments.                     (i)   At any time and from time to time:                           (1)   with respect to Base Rate Loans, Company may prepay any              such Loans on any Business Day in whole or in part, in an aggregate minimum              amount  of  $3,000,000  and  integral  multiples  of  $500,000  in  excess  of  that              amount;                           (2)   with  respect  to  Eurodollar  Rate  Loans,  Company  may              prepay any such Loans on any Business Day in whole or in part in an aggregate              minimum amount of $3,000,000 and integral multiples of $500,000 in excess of              that amount; and                           (3)   with  respect  to  Swing  Line  Loans,  Company  may  prepay              any  such  Loans  on  any  Business  Day  in  whole  or  in  part  in  an  aggregate              minimum amount of $100,000, and in integral multiples of $100,000 in excess of              that amount.                     (ii)  All such prepayments shall be made:                           (1)   upon not less than one (1) Business Day’s prior telephonic              or  written  notice,  in  a  form  reasonably  acceptable  to  Administrative  Agent              (including any form on an electronic platform or electronic submission system as              shall be approved by the Administrative Agent), in the case of Base Rate Loans;                           (2)   upon not less than three (3) Business Days’ prior telephonic              or  written  notice,  in  a  form  reasonably  acceptable  to  Administrative  Agent              (including any form on an electronic platform or electronic submission system as              shall  be approved  by the  Administrative  Agent),  in the case  of Eurodollar Rate              Loans; and                           (3)   upon  telephonic  or  written  notice,  in  a  form  reasonably              acceptable  to  Administrative  Agent,  on  the  date  of  prepayment, in  the  case  of              Swing Line Loans;   in each case given to Administrative Agent or Swing Line Lender, as the case may be, by 12:00  p.m.  on  the  date  required  and,  if  given  by  telephone,  promptly confirmed  in  writing  to  Administrative  Agent  (and  Administrative  Agent  will  promptly  transmit  such  telephonic  or  original  notice  for  Term  Loans  or  Revolving  Loans,  as  the  case may  be,  by  telefacsimile  or  telephone  to  each  applicable  Lender)  or  Swing  Line  Lender,  as  the  case  may  be.   Upon  the  giving  of  any  such  notice,  the  principal  amount  of  the  Loans  specified  in  such  notice  shall  become  due  and  payable  on  the  prepayment  date  specified therein;  provided,  however,  that  if  such notice of prepayment indicates that such prepayment is to be funded with the proceeds of a  new financing that would result in the repayment of all Obligations in connection therewith, the                                        -91-                                           105376510    

 

   termination of the Loans and Commitments under this Agreement and the release or termination  of all Liens securing the Obligations hereunder (a “New Financing”), such notice of prepayment  may be revoked if such New Financing is not consummated.  Any such voluntary prepayment  shall be applied as specified in Section 2.15(a).               (b)   Voluntary Commitment Reductions.                     (i)   Company  may,  upon  not  less  than  one  (1)  Business  Day’s  prior        written  or  telephonic  notice  promptly  confirmed  in  writing  to  Administrative  Agent        (which original written or telephonic notice Administrative Agent will promptly transmit        by telefacsimile or telephone to each applicable Lender), at any time and from time to       time terminate in whole or permanently reduce in part, without premium or penalty, the       Revolving  Commitments  in  an  amount  up  to  the  amount  by  which  the  Revolving       Commitments  exceed  the  Total  Utilization  of  Revolving  Commitments  at  the  time  of        such  proposed  termination  or  reduction;  provided,  any  such  partial  reduction  of  the        Revolving Commitments shall be in an aggregate minimum amount of $1,000,000 and        integral multiples of $1,000,000 in excess of that amount.                     (ii)  Company’s notice to Administrative Agent shall designate the date        (which shall be a Business Day) of such termination or reduction and the amount of any        partial reduction, and such termination or reduction of the Revolving Commitments shall        be effective on the date specified in Company’s notice and shall reduce the Revolving        Commitment of each applicable Lender proportionately to its Pro Rata Share thereof.               (c)   Proposed Modifications.                     (i)   In the event of the refusal by a Lender to consent to a Proposed        Modification  with  respect  to  such  Lender’s  Revolving  Loans  or  Term  Loans,  as        applicable,  Company  may,  upon  five  (5)  Business  Days’  prior  written  notice  to        Administrative  Agent  (or  such  shorter  period  of  time  agreed  to by  the  Administrative        Agent)  (which  notice  Administrative  Agent  shall  promptly  transmit  to  each  of  the        Lenders),  repay  all  such  Revolving  Loans  or  Term  Loans,  as  applicable  (but,  for  the        avoidance  of  doubt,  not  any  other  Loans  (or  tranches)  of  such  Lender  that  are  not        proposed to be modified by such Proposed Modification), including all amounts, if any,        owing pursuant to Section 2.11, together with accrued and unpaid interest, fees and all        other  amounts  then  owing  to  such  Lender  so  long  as  in  the  case of  the  repayment  of        Revolving  Loans  of  any  Lender  pursuant  to  this  paragraph (c),  (x) the  Revolving        Commitment of such Lender is terminated concurrently with such repayment pursuant to        Section 2.13(b) (at which time Annex A-2 or Annex A-3 as applicable, shall be deemed        modified  to  reflect  the  changed  Revolving  Commitments),  and  (y) such  Lender’s  Pro        Rata  Share  of  all  outstanding  Letters  of  Credit  is  Cash  Collateralized  in  a  manner        satisfactory to Administrative Agent and the respective Issuing Banks.  Each prepayment        of  the  Term  Loans  pursuant  to  this  Section 2.13(c)  shall  reduce  the  then  remaining        scheduled  repayments  of  the  Term  Loans  (including,  for  the  avoidance  of  doubt,  the        bullet  due  at  maturity)  on  a  pro  rata  basis  (based  upon  the  then  remaining  principal        amount of each such scheduled repayment of the Term Loans after giving effect to all        prior reductions thereto).                                         -92-                                           105376510    

 

                     (ii)  In the event of the refusal by a Lender to consent to a Proposed        Modification  with  respect  to  such  Lender’s  Revolving  Commitments,  Company  shall        have the right upon five (5) Business Days’ prior written notice to Administrative Agent        (or  such  shorter  period  of  time  agreed  to  by  the  Administrative  Agent)  (which  notice        Administrative Agent shall promptly transmit to each of the Lenders), to terminate the        entire Revolving Commitment of such Lender (but not any other Commitments or Loans        of such Lender that are not proposed to be modified by such Proposed Modification), so        long as (x) all Revolving Loans, together with accrued and unpaid interest, fees and all        other amounts, owing to such Lender (including all amounts, if any, owing pursuant to        Section 2.18) are repaid concurrently with the effectiveness of such termination (at which        time Annex A-2 or Annex A-3 as applicable, shall be deemed modified to reflect such        changed  amounts)and  (y)  such  Lender’s  Pro  Rata  Share  of  all  outstanding  Letters  of        Credit is Cash Collateralized in a manner satisfactory to Administrative Agent and the        respective  Issuing  Banks,  and  at  such  time,  unless  the  respective  Lender  continues  to        have outstanding Loans or commitments in respect of Loans hereunder, such Lender shall       no longer constitute a “Lender” for purposes of this Agreement, except with respect to       indemnifications under this Agreement, which shall survive as to such repaid Lender.         2.14  Mandatory Prepayments.              (a)   Asset Sales.  No later than the tenth Business Day following the date of  receipt by Company or any of its Restricted Subsidiaries of any Net Asset Sale Proceeds (or, in  the event such Net Asset Sale Proceeds are subject to distribution limitations contained in any  Project  document  or  any  instrument  or  agreement  governing  the  terms  of  any  permitted  refinancing  thereof,  no  later  than  the  fifth  Business  Day  after  the  last  of  such  distribution  limitations (as the same relates to such Net Asset Sale Proceeds) expires), Company shall prepay  the Loans as set forth in Section 2.15(b) in an aggregate amount equal to such Net Asset Sale  Proceeds; provided, that Net Asset Sale Proceeds up to $25,000,000 per Fiscal Year shall not be  applied  for  prepayment  under  this  Section  2.14(a);  provided,  further,  Company  shall  have  the  option,  directly  or  through  one  or  more  of  its  Subsidiaries,  to  invest  such  Net  Asset  Sale  Proceeds  within 365 days  of  receipt  thereof  (or,  to  the  extent the  Company  or  its  Restricted  Subsidiaries  have  committed  to  invest  such  proceeds  within  such  365-day  period,  within  180  days  after  such  commitment  or,  if  later,  within  such  365-day  period)  in  capital  assets  of  Company and its Subsidiaries which may include the repair, restoration or replacement of the  applicable  assets  thereof  (or  to  reimburse  Company  and  its  Subsidiaries  for  costs  incurred  in  respect of such loss), and as the proceeds used to consummate Permitted Acquisitions and any  other Investments permitted by Section 6.6(b), 6.6(e)(i), 6.6(e)(iii) (to the extent the proceeds of  such Investment are used make further Investments pursuant to Section 6.6(e)(i), 6.6(f), 6.6(j)(i)  or 6.6(j)(iii)), 6.6(f), 6.6(j)(i), 6.6(j)(iii) or 6.6(v).               (b)   Insurance/Condemnation Proceeds.  No later than the tenth Business Day  following  the  date  of  receipt  by  Company  or  any  of  its  Restricted  Subsidiaries,  or  Collateral  Agent or Administrative Agent as loss payee, of any Net Insurance/Condemnation Proceeds (or,  in the event such Net Insurance/Condemnation Proceeds are subject to distribution limitations  contained in any Project document or any instrument or agreement governing the terms of any  permitted  refinancing  thereof,  no  later  than  the  fifth  Business Day after the last of such  distribution  limitations  (as  the  same  relates  to  such  Net  Insurance/Condemnation  Proceeds)                                       -93-                                           105376510    

 

     expires), Company shall prepay the Loans as set forth in Section 2.15(b) in an aggregate amount   equal  to  such   Net   Insurance/Condemnation  Proceeds;  provided,  that  Net   Insurance/Condemnation  Proceeds  up  to  $25,000,000  per  Fiscal  Year  shall  not  be  applied  for   prepayment  under  this  Section  2.14(b);  provided,  further,  Company  shall  have  the  option,   directly  or  through  one  or  more  of  its  Subsidiaries  to  invest  or  commit  to  reinvest  such  Net   Insurance/Condemnation  Proceeds  within 365 days  of  receipt  thereof  (or,  to  the  extent  the   Company or its Restricted Subsidiaries have committed to invest such proceeds within such 365-  day period, within 180 days after such commitment or, if later, within such 365-day period) in   capital  assets  of  Company  and  its  Subsidiaries,  which  may  include  the  repair,  restoration  or   replacement of the applicable assets thereof (or to reimburse Company and its Subsidiaries for   costs  incurred  in  respect  of  such  loss),  and  as  the  proceeds  used  to  consummate  Permitted   Acquisitions and any other Investments permitted by Section 6.6(b), 6.6(e)(i), 6.6(e)(iii) (to the   extent the proceeds of such Investment are used make further Investments pursuant to Section   6.6(e)(i), 6.6(f), 6.6(j)(i) or 6.6(j)(iii)), 6.6(f), 6.6(j)(i), 6.6(j)(iii) or 6.6(v).                (c)   Issuance of Debt.  No later than the tenth Business Day following the date   of receipt by Company or any of its Restricted Subsidiaries of any Net Cash Proceeds from the   incurrence  of  any  Indebtedness  for  borrowed  money  of  Company  or  any  of  its  Restricted   Subsidiaries (other than with respect to any Indebtedness permitted to be incurred pursuant to   Section 6.1),  Company  shall  prepay  the  Loans  as  set  forth  in  Section 2.15(b)  in  an  aggregate   amount equal to 100% of such proceeds.                (d)   [Reserved].                (e)   Revolving  Loans  and  Swing  Line  Loans.   Company  shall  from  time to   time  prepay first,  the  Swing  Line  Loans,  and second,  the  Revolving  Loans  to  the  extent  necessary so that the Total Utilization of Revolving Commitments shall not at any time exceed  the Revolving Commitments then in effect.                (f)   Prepayment Certificate.  Concurrently with any prepayment of the Loans   pursuant  to  Sections 2.14(a)  through  Section  2.14(c)  Company  shall  deliver  to  Administrative   Agent a certificate of an Authorized Officer demonstrating the calculation of the amount of the   applicable net proceeds.  In the event that Company shall subsequently determine that the actual   amount  received  exceeded  the  amount  set  forth  in  such  certificate,  Company  shall  promptly   make an additional prepayment of the Loans in an amount equal to such excess, and Company   shall  concurrently  therewith  deliver  to  Administrative  Agent  a certificate  of  an  Authorized   Officer demonstrating the derivation of such excess.                (g)   Foreign  Subsidiaries.   Notwithstanding  the  foregoing,  all  amounts  to  be   applied  in  connection  with  prepayments  pursuant  to  this  Section 2.14  attributable  to  Foreign   Subsidiaries  shall  be  limited  to  the  extent  resulting  in  material  adverse  tax  consequences  and   shall be subject to permissibility under local law of upstreaming proceeds (including financial   assistance  and  corporate  benefit  restrictions  and  fiduciary  and  statutory  duties  of  the  relevant   directors),  in  each  case  as  set  forth  in  a  certificate  delivered  by  an  Authorized  Officer  of   Company to Administrative Agent.                                         -94-                                             105376510     

 

                 (h)   Right  to  Decline  Proceeds.   Company  shall  deliver  to  Administrative   Agent (who will notify each Lender) notice of each prepayment required under Section 2.14(a)   or  (b)  not  less  than  three  (3) Business  Days  prior  to  the  date such  prepayment  shall  be  made   (each  such  date,  a  “Mandatory  Prepayment  Date”).   Such  notice  shall  set  forth  (i) the   Mandatory Prepayment Date, (ii) the principal amount of each Loan (or portion thereof) to be   prepaid and (iii) the Type of each Loan being prepaid.  Company shall deliver to Administrative   Agent, at the time of each prepayment required under Section 2.14(a) or (b), a certificate signed   by  an  Authorized  Officer  of  Company  setting forth  in  reasonable  detail  the  calculation  of  the   amount  of  such  prepayment.   Administrative  Agent  will  promptly notify  each  Lender  holding   Term  Loans  of  the  contents  of  Company’s  repayment  notice  and  of  such  Lender’s  Pro  Rata   Share of any repayment.  Each such Lender may reject all or a portion of its Pro Rata Share of   any mandatory repayment of Term Loans required to be made pursuant to Section 2.14(a) or (b)   (such  declined  amounts,  the  “Declined  Proceeds”)  by  providing  written  notice  (each,  a  “Rejection  Notice”)  to  Administrative  Agent  and Company  no  later  than 5:00  p.m. on  the  Business  Day  after  the  date  of  such  Lender’s  receipt  of  notice from  Administrative  Agent  regarding  such  repayment.   Each  Rejection  Notice  shall  specify the  principal  amount  of  the  mandatory repayment of Term Loans to be rejected by such Lender.  If a Lender fails to deliver  such Rejection Notice to Administrative Agent within the time frame specified above or such  Rejection Notice fails to specify the principal amount of the Term Loans to be rejected, any such  failure will be deemed an acceptance of the total amount of such mandatory repayment of Term  Loans to which such Lender is otherwise entitled.  Any Declined Proceeds remaining thereafter   shall be retained by Company.                (i)   Alternative  Currency.  If  Administrative  Agent  notifies  Company at  any   time that the Outstanding Amount of all Revolving Loans denominated in Alternative Currencies   at  such  time  (determined  in  respect  of  the  most  recent  Revaluation  Date)  exceeds  an  amount   equal to 100% of the Revolving Commitment then in effect, then, within three (3) Business Days   after  receipt  of  such  notice,  Company  shall  prepay  Revolving  Loans  in  an  aggregate  amount   sufficient to reduce such Outstanding Amount as of such date of payment to an amount not to   exceed 100% of the Revolving Commitment then in effect.          2.15  Application of Prepayments.                (a)   Application  of  Voluntary  Prepayments  by  Type  of  Loans.   Any   prepayment of any Loan pursuant to Section 2.13(a) shall be applied as specified by Company in   the applicable notice of prepayment; provided, in the event Company fails to specify the Loans   to which any such prepayment shall be applied, such prepayment shall be applied as follows:                     first,  to  repay  outstanding  Swing  Line  Loans  to  the  full  extent  thereof,         without any permanent reduction of the Revolving Commitments;                     second,  to  repay  outstanding  Revolving  Loans to  the  full extent thereof,        without any permanent reduction of the Revolving Commitments; and                     third, to reduce the Term Loans on a pro rata basis (in accordance with the        respective outstanding principal amounts thereof) and shall be further applied to prepay                                         -95-                                             105376510     

 

         the  remaining  scheduled  Installments  of  principal  of  such  Term Loans  in  order  of        maturity.               (b)   Application of Mandatory Prepayments by Type of Loans.  Any amount  required to be paid pursuant to Sections 2.14(a) through 2.14(c) shall be applied as follows:                     first,  prepay  Term  Loans  on  a  pro  rata  basis  (in  accordance  with  the        respective outstanding principal amounts thereof) and shall be further applied to prepay        such Term Loans on a pro rata basis to the remaining scheduled Installments of principal        of  such  Term  Loans  (including,  for  the  avoidance  of  doubt,  the  bullet  payment  due  at        maturity);                     second, to prepay the Swing Line Loans to the full extent thereof;                    third, to prepay the Revolving Loans to the full extent thereof;                    fourth,  to  prepay  outstanding  reimbursement  obligations  with  respect to        Letters of Credit; and                     fifth, to Cash Collateralize Letters of Credit.               (c)   Application of Prepayments of Loans to Base Rate Loans and Eurodollar  Rate Loans.  Considering each Class of Loans being prepaid separately, any prepayment thereof  shall  be  applied  first  to  Base  Rate  Loans  to  the  full  extent  thereof  before  application  to  Eurodollar Rate Loans, in each case in a manner which minimizes the amount of any payments  required to be made by Company pursuant to Section 2.18(c).         2.16  General Provisions Regarding Payments.               (a)   All  payments  by  Company  of  principal,  interest,  fees  and  other  Obligations shall be made in Dollars (or, in respect of Letters of Credit and Revolving Loans  denominated in an Alternative Currency, such Alternative Currency) in same day funds, without  defense, recoupment, setoff or counterclaim, free of any restriction or condition, and delivered to  Administrative Agent not later than 2:00 p.m. on the date due at the Principal Office designated  by Administrative Agent for the account of Lenders; for purposes of computing interest and fees,  funds received by Administrative Agent after that time on such due date shall be deemed to have  been paid by Company on the next succeeding Business Day.  If, for any reason, Company is  prohibited by any law from making any required payment hereunder in an Alternative Currency,  Company  shall  make  such  payment  in  Dollars  in  the  Dollar  Equivalent  of  the  Alternative  Currency payment amount.                 (b)   Unless  Administrative  Agent  shall  have  received  notice  from  a  Lender  prior to any proposed Credit Date of Eurodollar Rate Loans (or, in the case of any borrowing of  Base Rate Loans, prior to 12:00 p.m. on the date of such borrowing) that such Lender will not  make available to Administrative Agent such Lender’s share of such borrowing, Administrative  Agent may assume that such Lender has made such share available on such date in accordance  with Section 2 (or, in the case of a borrowing of Base Rate Loans, that such Lender has made                                        -96-                                           105376510    

 

   such  share  available  in  accordance  with  and  at  the  time  required  by  Section 2)  and  may,  in  reliance upon such assumption, make available to Company a corresponding amount.  In such  event,  if  a  Lender  has  not  in  fact  made  its  share  of  the  applicable  borrowing  available  to  Administrative  Agent,  then  the  applicable  Lender  agrees  to  pay to  Administrative  Agent  forthwith  on  demand  such  corresponding  amount  in  immediately  available  funds  with  interest  thereon, for each day from and including the date such amount is made available to Company to  but  excluding  the  date  of  payment  to  Administrative  Agent,  at  the Overnight Rate, plus any  administrative,  processing  or  similar  fees  customarily  charged by  Administrative  Agent  in  connection  with  the  foregoing.   If  such  Lender  pays  its  share  of  the  applicable  borrowing  to  Administrative Agent, then the amount so paid shall constitute such Lender’s Loan included in  such  borrowing.   If  such  Lender  does  not  pay  such  corresponding  amount  forthwith  upon  Administrative Agent’s demand therefor, Administrative Agent shall promptly notify Company  and  Company  shall  immediately  pay  such  corresponding  amount  to Administrative  Agent  together with interest thereon, for each day from such Credit Date until the date such amount is  paid to Administrative Agent, at the rate payable hereunder for Base Rate Loans for such Class  of  Loans.   Nothing  in  this  Section  2.16(b)  shall  be  deemed  to  relieve  any  Lender  from  its  obligation to fulfill its Term Loan Commitments and Revolving Commitments hereunder or to  prejudice any rights that Company may have against any Lender as a result of any default by  such  Lender  hereunder.   A  notice of  Administrative  Agent  to  any  Lender  or  Company  with  respect to any amount owing under this subsection (b) shall be conclusive, absent manifest error.               (c)   Unless  Administrative  Agent  shall  have  received  notice  from  Company  prior to the date on which any payment is due to Administrative Agent for the account of the  Lenders  or  the  Issuing  Banks  hereunder  that  Company  will  not  make  such  payment,  Administrative  Agent  may  assume  that  Company  has  made  such  payment  on  such  date  in  accordance herewith and may, in reliance upon such assumption, distribute to the Lenders or the  Issuing Banks, as the case may be, the amount due.  In such event, if Company has not in fact  made such payment, then each of the Lenders or the Issuing Banks, as the case may be, severally  agrees to repay to Administrative Agent forthwith on demand the amount so distributed to such  Lender or the Issuing Banks, in immediately available funds with interest thereon, for each day  from and including the date such amount is distributed to it to but excluding the date of payment  to Administrative Agent, at the Overnight Rate.               (d)   All payments in respect of the principal amount of any Loan (other than  voluntary prepayments of Revolving Loans that are Base Rate Loans) shall be accompanied by  payment of accrued interest on the principal amount being repaid or prepaid.               (e)   Administrative  Agent  (or  its  agent  or  sub-agent  appointed  by  it)  shall  promptly distribute to each Lender at such address as such Lender shall indicate in writing, such  Lender’s applicable Pro Rata Share of all payments and prepayments of principal and interest  due hereunder, together with all other amounts due thereto, including, without limitation, all fees  payable with respect thereto, to the extent received by Administrative Agent.               (f)   Notwithstanding  the  foregoing  provisions  hereof,  if  any  Conversion/Continuation  Notice  is  withdrawn  as  to  any  Affected Lender  or  if  any  Affected  Lender  makes  Base  Rate  Loans  in  lieu  of  its  Pro  Rata  Share  of  any  Eurodollar  Rate  Loans,  Administrative Agent shall give effect thereto in apportioning payments received thereafter.                                       -97-                                           105376510    

 

                 (g)   Subject to the provisos set forth in the definition of “Interest Period” as   they may apply to Revolving Loans, whenever any payment to be made hereunder with respect   to any Loan shall be stated to be due on a day that is not a Business Day, such payment shall be   made  on  the  next  succeeding  Business  Day  and,  with  respect  to  Revolving  Loans  only, such  extension of time shall be included in the computation of the payment of interest hereunder or of  the Revolving Commitment fees hereunder.                (h)   Company  hereby  authorizes  Administrative  Agent  to  charge  Company’s   accounts  with  Administrative  Agent  in  order  to  cause  timely  payment  to  be  made  to   Administrative  Agent  of  all  principal,  interest,  fees  and  expenses  due  hereunder  (subject  to   sufficient funds being available in its accounts for that purpose).               (i)   Administrative  Agent  shall  deem  any  payment  by  or  on  behalf  of  Company  hereunder  that  is  not  made  in  same  day  funds  prior  to  2:00  p.m.  to  be  a  non- conforming  payment.   Any  such  payment  shall  not  be  deemed  to  have  been  received  by  Administrative  Agent  until  the  later  of  (i) the  time  such  funds  become  available  funds,  and  (ii) the applicable next Business Day.  Administrative Agent shall give prompt telephonic notice  to  Company  and  each  applicable  Lender  (confirmed  in  writing)  if any payment is  non-conforming.  Any non-conforming payment may constitute or become a Default or Event of  Default in accordance with the terms of Section 8.1(a).  Interest shall continue to accrue on any   principal  as  to  which  a  non-conforming  payment  is  made  until  such  funds  become  available   funds (but in no event less than the period from the date of such payment to the next succeeding   applicable  Business  Day)  at  the  rate  determined  pursuant  to  Section 2.10  from  the  date  such   amount was due and payable until the date such amount is paid in full.                 (j)   If an Event of Default shall have occurred and not otherwise been cured or   waived, and the maturity of the Obligations shall have been accelerated pursuant to Section 8.1   or pursuant to any sale of, any collection from, or other realization upon all or any part of the   Collateral,  all  payments  or  proceeds  received  by  Agents  hereunder  in  respect  of  any  of  the   Obligations,  shall  be  applied  in  accordance  with  the  application  arrangements  described  in   Section 7.2 of the Pledge and Security Agreement.                (k)   The  obligations  of  the  Lenders  hereunder  to  make  Loans,  to  fund   participations in Letters of Credit and Swing Line Loans are several and not joint.  The failure of   any Lender to make any Loan or to fund any such participation on any date required hereunder   shall not relieve any other Lender of its corresponding obligation to do so on such date, and no   Lender  shall  be  responsible  for  the  failure  of  any  other  Lender  to  so  make  its  Loan,  or  to   purchase its participation.          2.17  Ratable  Sharing.   Lenders  hereby  agree  among  themselves  that,  except  as   otherwise  provided  in  the  Collateral  Documents  with  respect  to amounts  realized  from  the   exercise  of  rights  with  respect  to  Liens  on  the  Collateral,  if any  of  them  shall,  whether  by   voluntary payment (other than a voluntary prepayment of Loans made and applied in accordance   with  the  terms  hereof),  through  the  exercise  of  any  right  of  set-off  or  banker’s  lien,  by   counterclaim or cross action or by the enforcement of any right under the Credit Documents or   otherwise, or as adequate protection of a deposit treated as Cash Collateral under the Bankruptcy   Code,  receive  payment  or  reduction  of  a  proportion  of  the  aggregate  amount  of  principal,                                        -98-                                             105376510     

 

     interest, amounts payable in respect of Letters of Credit, fees and other amounts then due and   owing  to  such  Lender  hereunder  or  under  the  other  Credit  Documents  (collectively,  the   “Aggregate  Amounts  Due” to such Lender) which is greater than the proportion received by  any  other  Lender  in  respect  of  the  Aggregate  Amounts  Due  to  such  other  Lender,  then  the  Lender receiving such proportionately greater payment shall (a) notify Administrative Agent and  each other Lender of the receipt of such payment and (b) apply a portion of such payment to  purchase  participations  (which  it  shall  be  deemed  to  have  purchased  from  each  seller  of  a  participation simultaneously upon the receipt by such seller of its portion of such payment) in the  Aggregate Amounts Due to the other Lenders so that all such recoveries of Aggregate Amounts  Due  shall  be  shared  by  all  Lenders  in  proportion  to  the  Aggregate  Amounts  Due  to  them;  provided,  if  all  or  part  of  such proportionately  greater  payment  received  by  such  purchasing   Lender  is  thereafter  recovered  from  such  Lender  upon  the  bankruptcy  or  reorganization  of   Company or otherwise, those purchases shall be rescinded and the purchase prices paid for such   participations shall be returned to such purchasing Lender ratably to the extent of such recovery,   but without interest.  Company expressly consents to the foregoing arrangement and agrees that   any holder of a participation so purchased may exercise any and all rights of banker’s lien, set-  off or counterclaim with respect to any and all monies owing by Company to that holder with   respect thereto as fully as if that holder were owed the amount of the participation held by that  holder.  The provisions of this Section 2.17 shall not be construed to apply to (a) any payment   made  by  Company  pursuant  to  and  in  accordance  with  the  express terms  of  this  Agreement   (including  the  application  of  funds  arising  from  the  existence  of  a  Defaulting  Lender  or   Disqualified  Lender)  or  (b) any  payment  obtained  by  any  Lender  as  consideration  for  the   assignment or sale of a participation in any of its Loans or other Obligations owed to it.          2.18  Making or Maintaining Eurodollar Rate Loans.                (a)   Inability to Determine Applicable Interest Rate.                        (i)   Temporary  Inability.   Except  in  the  case  of  circumstances         described in Section 2.18(a)(ii), if in connection with any request for a Eurodollar Rate         Loan or a conversion to or continuation thereof, (A) the Administrative Agent determines         that  on  any  Interest  Rate  Determination  Date  (1)  deposits  (whether  in  Dollars  or  an         Alternative Currency) are not being offered to banks in the applicable offshore interbank         market  for  such  currency  for  the  applicable  amount  and  Interest  Period  of  such         Eurodollar Rate Loan or (2) adequate and reasonable means do not exist to determine the         Eurodollar Rate for any requested Interest Period with respect to a proposed Eurodollar         Rate Loan or in connection with an existing or proposed Base Rate Loan, (in each case         with respect to this clause (a)(i)(A), the “Impacted Loans”), or (B) the Administrative         Agent or the Requisite Lenders determine that for any reason the Eurodollar Rate for any         requested  Interest  Period  with  respect  to  a  proposed  Eurodollar  Rate  Loan  does  not         adequately and fairly reflect the cost to such Lenders of funding such Eurodollar Rate         Loan,  Administrative  Agent  shall  on  such  date  give  notice  (by  telefacsimile  or  by         telephone  confirmed  in  writing)  to  Company  and  each  Lender  of  such  determination.         Thereafter, (x) the obligation of the Lenders to make or maintain Eurodollar Rate Loans         in  the  affected  currency  or  currencies  shall  be suspended (to  the  extent  of  the  affected         Eurodollar  Rate  Loans  or  Interest  Periods)  and  (y) in  the  event  of  a  determination         described in the preceding sentence with respect to the Eurodollar Rate component of the                                        -99-                                             105376510     

 

         Base Rate, the utilization of the Eurodollar Rate component in determining the Base Rate        shall be suspended, in each case until Administrative Agent upon the instruction of the        Requisite  Lenders  revokes  such  notice.   Upon  receipt  of  such  notice,  Company  may        revoke  any  pending  Funding  Notice  or  Conversion/Continuation  Notice  of  Eurodollar        Rate Loans in the affected currency or currencies (to the extent of the affected Eurodollar        Rate Loans or Interest Periods) or, failing that, will be deemed to have converted such        request into a request for borrowing of Base Rate Loans in the amount specified therein.         Notwithstanding  the  foregoing,  if  Administrative  Agent  has  made the determination       described in clause (a)(i)(A) above, Administrative Agent, in consultation with Company       and  the  Requisite  Lenders,  may  establish  an  alternative  interest  rate  for  the  Impacted       Loans,  in  which  case,  such  alternative  rate  of  interest  shall  apply  with  respect  to  the       Impacted Loans until (1) Administrative Agent revokes the notice delivered with respect       to  the  Impacted  Loans  under  clause  (a)(i)(A)  above,  (2)  Administrative  Agent  or  the       Requisite  Lenders  notify  Administrative  Agent  and  Company  that such  alternative       interest rate does not adequately and fairly reflect the cost to such Lenders of funding the       Impacted Loans, or (3) any Lender determines that any law has made it unlawful, or that       any  Governmental  Authority  has  asserted  that  it  is  unlawful,  for  such  Lender  or  its       applicable lending office to make, maintain or fund Loans whose interest is determined       by reference to such alternative rate of interest or to determine or charge interest rates       based upon such rate or any Governmental Authority has imposed material restrictions on       the  authority  of  such  Lender  to  do  any  of  the  foregoing  and  provides  Administrative       Agent and Company written notice thereof.                    (ii)  Non-Temporary Inability.                           (1)   Notwithstanding anything to the contrary in this Agreement              or  any  other  Credit  Documents,  including  Section  2.18(a)(i)  above,  if  the              Administrative Agent determines (which determination shall be conclusive absent              manifest  error),  or  the  Company  or  the  Requisite  Lenders  notify  the              Administrative  Agent  in  writing  (with,  in  the  case  of  the  Requisite  Lenders,  a              copy to the Company) that the Company or the Requisite Lenders (as applicable)              have determined, that:                           (A)   adequate and reasonable means do not exist for ascertaining                                LIBOR  for  any  requested  Interest  Period,  including,                                without limitation, because the LIBOR Screen Rate is not                                available  or  published  on  a  current  basis  and  such                                circumstances are unlikely to be temporary; or                            (B)   the  administrator  of  the  LIBOR  Screen  Rate  or  a                                Governmental  Authority  having  jurisdiction  over  the                                Administrative  Agent  has  made  a  public  statement                                identifying  a  specific  date  after  which  LIBOR  or  the                                LIBOR Screen Rate shall no longer be made available, or                                used for determining the interest rate of loans (such specific                                date, the “Scheduled Unavailability Date”); or                                      -100-                                           105376510    

 

                           (C)   syndicated  loans  currently  being  executed,  or that  include                                language similar to that contained in this Section, are being                                executed or amended (as applicable) to incorporate or adopt                               a new benchmark interest rate to replace LIBOR;              then, reasonably promptly after such determination by the Administrative Agent              or  receipt  by  the  Administrative  Agent  of  such  notice,  as  applicable,  the              Administrative  Agent  and  the  Company  may  amend  this  Agreement  to  replace              LIBOR  with  an  alternate  benchmark  rate  (including  any  mathematical  or  other              adjustments to the benchmark (if any) incorporated therein), giving  due              consideration to any evolving or then existing convention for similar U.S. dollar              denominated  syndicated  credit  facilities  for  such  alternative  benchmarks  (any              such  proposed  rate,  a  “LIBOR  Successor  Rate”),  together  with  any  proposed              LIBOR  Successor  Rate  Conforming  Changes  and  any  such  amendment shall              become effective at 5:00 p.m. (New York time) on the fifth Business Day after the              Administrative Agent shall have posted such proposed amendment to all Lenders              and  the  Company  unless,  prior  to  such  time,  Lenders  comprising the  Requisite              Lenders  have  delivered  to  the  Administrative  Agent  written  notice  that  such              Requisite Lenders do not accept such amendment.                                        (2)   If no LIBOR Successor Rate has been determined and the              circumstances under clause (ii)(1)(A) above exist or the Scheduled Unavailability              Date  has  occurred  (as  applicable),  the  Administrative  Agent  will  promptly  so              notify  the  Company  and  each  Lender.   Thereafter,  (x)  the  obligation  of  the              Lenders to make or maintain Eurodollar Rate Loans in the affected currency or              currencies shall be suspended (to the extent of the affected Eurodollar Rate Loans              or  Interest  Periods),  and  (y)  the  Eurodollar  Rate  component  shall  no  longer  be              utilized in determining the Base Rate.  Upon receipt of such notice, the Company              may revoke any pending request for a borrowing of, conversion to or continuation              of  Eurodollar  Rate  Loans  denominated  in  a  LIBOR  Quoted  Currency (to the              extent of the affected Eurodollar Rate Loans or Interest Periods) or, failing that,              will be deemed to have converted such request into a request for a borrowing of              Base  Rate  Loans  (subject  to  the  foregoing  clause  (y))  in  the  amount  specified              therein.                                                    (3)   Notwithstanding  anything  else  herein,  any  definition  of              LIBOR Successor Rate shall provide that in no event shall such LIBOR Successor              Rate be less than zero for purposes of this Agreement.                                        (b)   Illegality or Impracticability of Eurodollar Rate Loans.  If in the event that  on any date any Lender shall have determined in good faith (which determination shall be final  and conclusive and binding upon all parties hereto but shall be made only after consultation with  Company and Administrative Agent) that the performance of any of its obligations hereunder, or  the making, maintaining, funding, continuation or charging of interest with respect to any Credit  Extension  or  its  Eurodollar  Rate  Loans  (whether  denominated  in Dollars  or  an  Alternative  Currency) (i) has become unlawful as a result of compliance by such Lender in good faith with                                       -101-                                           105376510    

 

   any  law,  treaty,  governmental  rule,  regulation,  guideline  or  order  (or  would  conflict  with  any  such treaty, governmental rule, regulation, guideline or order not having the force of law even  though the failure to comply therewith would not be unlawful), or (ii) has become impracticable,  as  a  result  of  contingencies  occurring  after  the  Amendment  and Restatement  Effective  Date  which  materially  and  adversely affect  the  London  interbank  market  or  the  position  of  such  Lender in that market, then, and in any such event, such Lender shall be an “Affected Lender”  and it shall on that day give notice (by telefacsimile or by telephone confirmed in writing) to  Company and Administrative Agent of such determination (which notice Administrative Agent  shall  promptly  transmit  to  each  other  Lender).   Thereafter  (1) the  obligation  of  the  Affected  Lender  to  issue,  make,  maintain,  fund  or  charge  interest  with  respect  to  any  such  Credit  Extension or continue Loans in the affected currency or currencies as, or to convert Loans to,  Eurodollar Rate Loans shall be suspended until such notice shall be withdrawn by the Affected  Lender, (2) to the extent such determination by the Affected Lender relates to a Eurodollar Rate  Loan  in  Dollars  then  being  requested  by  Company  pursuant  to  a  Funding  Notice  or  a  Conversion/Continuation Notice, the Affected Lender shall make such Loan as (or continue such  Loan  as  or  convert  such  Loan  to,  as  the  case  may  be)  a  Base  Rate  Loan,  (3) the  Affected  Lender’s obligation to maintain its outstanding Eurodollar Rate Loans (the “Affected  Loans”)  shall be terminated at the earlier to occur of the expiration of the relevant Interest Periods, then in  effect with respect to the Affected Loans or when required by law and Company shall prepay or  convert  such  Affected  Loans  together  with  accrued  interest,  (4) the  Affected  Loans  that  are  denominated  in  Dollars  shall  automatically  convert  into  Base  Rate  Loans  on  the  date  of  such  termination and (5) if such notice asserts the illegality of such Lender making or  maintaining  Base Rate Loans the interest rate on which is determined by reference to the Eurodollar Rate  component of the Base Rate, the interest rate on which Base Rate Loans of such Lender shall, if  necessary  to  avoid  such  illegality,  be  determined  by  Administrative  Agent  pursuant  to  such  definition  without  reference  to  the  Eurodollar  Rate  component  of  the  Base  Rate.   Notwithstanding the foregoing, to the extent a determination by an Affected Lender as described  above relates to a Eurodollar Rate Loan then being requested by Company pursuant to a Funding  Notice  or  a  Conversion/Continuation  Notice,  Company  shall  have the  option,  subject  to  the  provisions of Section 2.18(c), to rescind such Funding Notice or Conversion/Continuation Notice  as  to  all  Lenders  by  giving  notice  (by  telefacsimile  or  by  telephone  confirmed  in  writing)  to  Administrative Agent of such rescission on the date on which the Affected Lender gives notice  of its determination as described above (which notice of rescission Administrative Agent shall  promptly transmit to each other Lender).  If Company does not rescind such Funding Notice or  Conversion/Continuation  Notice,  the  Affected  Lender’s  Pro  Rata Share  of  such  Loan  shall  constitute a Base Rate Loan.  Except as provided in the immediately preceding sentence, nothing  in this Section 2.18(b) shall affect the obligation of any Lender other than an Affected Lender to  make or maintain Loans as, or to convert Loans to, Eurodollar Rate Loans in accordance with the  terms hereof.               (c)   Compensation  for  Breakage  or  Non-Commencement  of  Interest  Periods.   Company shall compensate each Lender, upon written request by such  Lender (which  request  shall  set  forth  the  basis  for  requesting  such  amounts),  for  all  reasonable  losses,  expenses  and  liabilities (including (x) the difference between any interest paid by such Lender to lenders of  funds borrowed by it to make or carry its Eurodollar Rate Loans and the Eurodollar Rate such  Lender  would  receive  in  connection  with  the  liquidation  or  re-employment  of  such  funds  and                                       -102-                                           105376510    

 

     (y) amounts  received  by  such  Lender  in  connection  with  the  liquidation  or  re-employment  of   such  funds  and  any  expense  or  liability  incurred  in  connection therewith)  which  such  Lender   may actually sustain:  (i) if for any reason (other than a default by any such Lender) a borrowing   of any Eurodollar Rate Loan (whether denominated in Dollars or an Alternative Currency) does   not occur on a date specified therefor in a Funding Notice or a telephonic request for borrowing,   or  a  conversion  to  or  continuation  of  any  Eurodollar  Rate  Loan does  not  occur  on  a  date   specified therefor in a Conversion/Continuation Notice or a telephonic request for conversion or  continuation;  (ii) if  any  prepayment  or  other  principal  payment  (other  than  a  mandatory  prepayment  under  Section 2.14)  of,  or  any  conversion  of,  any  of  its  Eurodollar  Rate  Loans   occurs on a date prior to the last day of an Interest Period applicable to that Loan; and (iii) if any   prepayment of any of its Eurodollar Rate Loans is not made on any date specified in a notice of   prepayment given by Company; provided, Company shall not be obligated to compensate any   Lender  for  any  such  losses,  expenses  or  liabilities  attributable  to  any  such  circumstance  occurring  prior  to  the  date  that  is  thirty  (30) days  prior  to  the  date  on  which  such  Lender  requested such compensation from Company.               (d)   Booking  of  Eurodollar  Rate  Loans.   Any  Lender  may  make,  carry  or   transfer Eurodollar Rate Loans at, to, or for the account of any of its branch offices or the office   of an Affiliate of such Lender.                (e)   Assumptions Concerning Funding of Eurodollar Rate Loans.  Calculation   of all amounts payable to a Lender under Section 2.18(c) shall be made as though such Lender   had  actually  funded  each  of  its  relevant  Eurodollar  Rate  Loans through  the  purchase  of  a   Eurodollar deposit bearing interest at the rate obtained pursuant to clause (a) of the definition of   Eurodollar Rate in an amount equal to the amount of such Eurodollar Rate Loan and having a   maturity comparable to the relevant Interest Period and through the transfer of such Eurodollar   deposit from an offshore office of such Lender to a domestic office of such Lender in the United   States of America; provided, however, each Lender may fund each of its Eurodollar Rate Loans   in any manner it sees fit and the foregoing assumptions shall be utilized only for the purposes of   calculating amounts payable under Section 2.18(c).          2.19  Increased Costs; Capital Requirements.                (a)   Compensation For Increased Costs and Taxes.  Subject to the provisions   of Section 2.20 (which shall be controlling with respect to the matters covered thereby), in the   event  that  any  Lender  (which  term  shall  include  each  Issuing  Bank  for  purposes  of  this   Section 2.19(a)) shall determine (which determination shall, absent manifest error, be final and   conclusive and binding upon all parties hereto) that any Change in Law:  (i) subjects such Lender   (or its applicable lending office) to any Taxes (other than (A) Non-Excluded Taxes, (B) Taxes   described  in  clauses  (b)  through  (d)  of  the  definition  of  Excluded  Taxes  and  (C)  Connection   Income Taxes) on its loans, loan principal, letters of credit, commitments or other obligations, or   its deposits, reserves or other liabilities or capital attributable thereto; (ii) imposes, modifies or   holds applicable any reserve (including any marginal, emergency, supplemental, special or other   reserve), special deposit, compulsory loan, FDIC insurance or similar requirement against assets   held by, or deposits or other liabilities in or for the account of, or advances or loans by, or other   credit extended by, or any other acquisition of funds by, any office of such Lender or the Issuing   Banks,  or  (iii) imposes  any  other  condition  (other  than  with  respect  to  a  Tax  matter)  on  or                                       -103-                                             105376510     

 

     affecting such Lender (or its applicable lending office) or its obligations hereunder or the London   interbank market; and the result of any of the foregoing is to increase the cost to such Lender of   agreeing to make, making or maintaining Loans hereunder or to reduce any amount received or  receivable by such Lender (or its applicable lending office) with respect thereto; then Company  shall promptly pay to such Lender, upon receipt of the statement referred to in the next sentence,  such additional amount or amounts (in the form of an increased rate of, or a different method of  calculating, interest or otherwise as such Lender in its sole discretion shall determine) as may be  necessary  to  compensate  such  Lender  for  any  such  increased  cost  or  reduction  in  amounts  received or receivable hereunder; provided, Company shall not be obligated to pay such Lender   any compensation attributable to any period prior to the date that is 180 days prior to the date on   which  such  Lender  gave  notice  to  Company  of  the  circumstances  entitling  such  Lender  to   compensation.  Such Lender shall deliver to Company (with a copy to Administrative Agent) a   written  statement,  setting  forth  in  reasonable  detail  the  basis  for  calculating  the  additional   amounts owed to such Lender under this Section 2.19(a) and in the calculation thereof, which   statement shall be conclusive and binding upon all parties hereto absent manifest error.                (b)   Capital  Requirements  Adjustment.   In  the  event  that  any  Lender (which   term shall include each Issuing Bank for purposes of this Section 2.19(b)) shall have determined   that  the  adoption,  effectiveness,  phase-in  or  change  in  applicability  after  the  Amendment  and   Restatement Effective Date of any law, rule or regulation (or any provision thereof) regarding   capital or liquidity requirements, or any change therein or in the interpretation or administration   thereof  by  any  Governmental  Authority,  central  bank  or  comparable  agency  charged  with  the   interpretation or administration thereof, or compliance by any Lender (or its applicable lending   office)  with  any  guideline,  request  or  directive  regarding  capital  or  liquidity  requirements   (whether or not having the force of law) of any such Governmental Authority, central bank or   comparable agency, has or would have the effect of reducing the rate of return on the capital of   such Lender or any corporation controlling such Lender as a consequence of, or with reference   to, such Lender’s Loans, Revolving Commitments or Letters of Credit, or participations therein   or other obligations hereunder with respect to the Loans or the Letters of Credit to a level below   that  which  such  Lender  or  such  controlling  corporation  could  have  achieved  but  for  such   adoption,  effectiveness,  phase-in,  change  in  applicability,  change  or  compliance  (taking  into   consideration the policies of such Lender or such controlling corporation with regard to capital or   liquidity requirements), then from time to time, within five (5) Business Days after receipt by   Company from such Lender of the statement referred to in the next sentence, Company shall pay   to  such  Lender  such  additional  amount  or  amounts  as  will  compensate  such  Lender  or  such   controlling corporation on an after-tax basis for such reduction; provided, Company shall not be   obligated to pay such Lender any compensation attributable to any period prior to the date that   is 180 days prior to the date on which such Lender gave notice to Company of the circumstances   entitling such Lender to compensation.  Such Lender shall deliver to Company (with a copy to   Administrative  Agent)  a  written  statement,  setting  forth  in  reasonable  detail  the  basis  for   calculating  the  additional  amounts  owed  to  Lender  under  this  Section 2.19(b)  and  in  the   calculation  thereof,  which  statement  shall  be  conclusive  and  binding  upon  all  parties  hereto   absent manifest error.                (c)   Additional Reserve Requirements.  Company shall pay to each Lender, as   long as such Lender shall be required to  maintain reserves with respect to liabilities or assets                                        -104-                                             105376510     

 

   consisting  of  or  including  Eurocurrency  funds  or  deposits  (currently  known  as  “Eurocurrency  liabilities”, as such term is defined in Regulation D) under regulations issued from time to time  by the Board of Governors of the Federal Reserve System or other applicable banking regulator,  additional  interest  on  the  unpaid  principal  amount  of  each  Eurodollar  Rate  Loan  equal  to  the  actual  costs  of  such  reserves  allocated  to  such  Loan  by  such  Lender  (as  determined  by  such  Lender  in  good  faith,  which  determination  shall  be  conclusive) commencing  on  and  as  of  the  effective  date  of  any  change  in  the  applicable  reserve  requirement,  which  shall  be  due  and  payable on each date on which interest is payable on such Loan, provided Company shall have  received at least ten (10) days’ prior written notice (with a copy to Administrative Agent) of such  additional interest from such Lender.  If a Lender fails to give notice ten (10) days’ prior to the  relevant Interest Payment Date, such additional interest shall be due and payable ten (10) days  from receipt of such notice; provided, Company shall not be obligated to pay such Lender any  additional interest attributable to any period prior to the date that is 30 days prior to the date on  which  such  Lender  gave  notice  to  Company  of  the  circumstances  entitling  such  Lender  to  additional interest.         2.20  Taxes; Withholding, etc.                (a)   Payments  to  Be  Free  and  Clear.   All  sums  payable  by  any  Credit Party  hereunder and under the other Credit Documents shall (except to the extent required by law) be  paid free and clear of, and without any deduction or withholding on account of, any Tax.               (b)   Withholding of Taxes.  If any applicable law (as determined in the good  faith determination of an applicable withholding agent) requires a deduction or withholding on  account of any Tax from any sum paid or payable by any Credit Party to Administrative Agent  or  any  Lender  under  any  of  the  Credit  Documents:   (i)  Company  shall  notify  Administrative  Agent of any such requirement or any change in any such requirement reasonably promptly after  Company becomes aware of it; (ii) the applicable withholding agent shall make such deduction  and timely pay the full amount deducted to the relevant Governmental Authority in accordance  with applicable law; (iii) if such Tax is a Non-Excluded Tax, the sum payable by such Credit  Party  in  respect  of  which  the  relevant  deduction,  withholding  or  payment  of  Non-Excluded  Taxes is required shall be increased to the extent necessary to ensure that, after the making of  that deduction, withholding or payment of Non-Excluded Taxes, Administrative Agent or such  Lender,  as  the  case  may  be,  receives  on  the  due  date  a  net  sum equal  to  what  it  would  have  received had no such deduction, withholding or payment of Non-Excluded Taxes been required  or made; and (iv) within thirty (30) days after paying any sum from which it is required by law to  make any deduction or withholding, Company shall deliver to Administrative Agent the original  or a certified copy of a receipt issued by such Governmental Authority evidencing such payment,  a  copy  of  any  return  required  by  applicable  law  to  report  such payment  or  other  evidence  reasonably satisfactory to Administrative Agent of such deduction, withholding or payment and  of the remittance thereof to the relevant Governmental Authority.               (c)   Other  Taxes.   Without  limiting  the  provisions  of  Section 2.20(b),  the  Credit  Parties  shall  timely  pay  to  the  relevant  Governmental  Authority  in  accordance  with  applicable law, or at the option of Administrative Agent timely reimburse it for the payment of,  all present or future stamp, court or documentary, intangible, recording, filing or similar Taxes  that  arise  from  any  payment  made  under,  from  the  execution,  delivery,  performance,                                      -105-                                           105376510    

 

   enforcement  or  registration  of,  from  the  receipt  or  perfection  of  a  security  interest  under,  or  otherwise  with  respect  to,  any  Credit  Document,  except  any  such  Taxes  that  are  Other  Connection  Taxes  imposed  with  respect  to  an  assignment  (other  than  an  assignment  made  pursuant to Section 2.23) (such Taxes, “Other Taxes”).               (d)   Tax Indemnifications.                     (i)   Each  of  the  Credit  Parties  shall,  and  does  hereby,  jointly  and        severally indemnify Administrative Agent and each Lender, and shall make payment in        respect  thereof  within  ten  (10) days  after  demand  therefor,  for  the  full  amount  of  any        Non-Excluded Taxes or Other Taxes (including Non-Excluded Taxes imposed or asserted        on or attributable to amounts payable under this Section 2.20(d)(i)) payable or paid by        such  Administrative  Agent  or  Lender  or  required  to  be  withheld or  deducted  from  a        payment to such Administrative Agent or Lender, and any reasonable expenses arising        therefrom  or  with  respect  thereto,  whether  or  not  such  Non-Excluded  Taxes  or  Other        Taxes  were  correctly  or  legally  imposed  or  asserted  by  the  relevant  Governmental        Authority.   A  certificate  as  to  the  amount  of  such  payment  or  liability  delivered  to  a        Credit  Party  by  a  Lender  (with  a  copy  to  Administrative  Agent),  or  by  Administrative        Agent on its own behalf or on behalf of a Lender, shall be conclusive absent manifest        error.                       (ii)  Each  Lender  shall,  and  does  hereby,  severally  indemnify        Administrative  Agent,  and  shall  make  payment  in  respect  thereof within ten (10) days        after demand therefor, (x) any Taxes attributable to such Lender (but only to the extent        that any Credit Party has not already indemnified Administrative Agent for such Taxes       that are Non-Excluded Taxes and without limiting the obligation of the Credit Parties to       do  so)  and  (y) any  Taxes  attributable  to  such  Lender’s  failure to  comply  with  the       provisions of Section 10.6(f) relating to the maintenance of a Participant Register, in each        case,  that  are  payable  or  paid  by  Administrative  Agent  in  connection  with  any  Credit        Document,  and  any  reasonable  expenses  arising  therefrom  or  with  respect  thereto,        whether or not such Taxes were correctly or legally imposed or asserted by the relevant        Governmental  Authority.   A  certificate  as  to  the  amount  of  such  payment  or  liability        delivered  to  any  Lender  by  Administrative  Agent  shall  be  conclusive  absent  manifest        error.  Each Lender hereby authorizes Administrative Agent to set off and apply any and        all amounts at any time owing to such Lender, as the case may be, under this Agreement        or any other Credit Document against any amount due to Administrative Agent under this        Section 2.20(d)(ii).               (e)   Evidence  of  Exemption  From  Tax.   Any  Recipient  that  is  entitled  to  an  exemption  from  or  reduction  of  withholding  Tax  with  respect  to payments  made  under  any  Credit  Document  shall  deliver  to  Company  and  Administrative  Agent,  at  the  time  or  times  reasonably  requested  by  Company  or  Administrative  Agent,  such  properly  completed  and  executed  documentation  reasonably  requested  by  Company  or  Administrative  Agent  as  will  permit such payments to be made without withholding or at a reduced rate of withholding. In  addition,  any  Recipient,  if  reasonably  requested  by  Company  or Administrative  Agent,  shall  deliver  such  other  documentation  prescribed  by  applicable  law  or  reasonably  requested  by  Company  or  Administrative  Agent  as  will  enable  Company  or  Administrative  Agent  to                                      -106-                                           105376510    

 

     determine  whether  or  not  such Recipient  is  subject  to  backup  withholding  or  information  reporting requirements. Notwithstanding anything to the contrary in the preceding two sentences,  the  completion,  execution  and  submission  of  such  documentation (other  than  such  documentation  set  forth  in  the  following  two  sentences  of  this  Section  2.20(e))  shall  not  be   required  if  in  the  Recipient’s  reasonable  judgment  such  completion,  execution  or  submission   would  subject  such  Lender  or  Agent  to  any  material  unreimbursed  cost  or  expense  or  would   materially  prejudice  the  legal  or  commercial  position  of  such  Recipient.   To  the  extent  it  is   legally  entitled  to  do  so,  each  Non-US  Lender  and  any  Non-US Agent  shall  deliver  to   Administrative Agent and Company, on or prior to the Amendment and Restatement Effective   Date (in the case of each Agent and Lender), on or prior to the date a successor Non-US Agent   becomes a party under any of the Credit Documents (in the case of a successor Non-US Agent)   or on or prior to the date of the Assignment Agreement pursuant to which it becomes a Lender   (in  the  case  of  each  other  Lender),  and  at  such  other  times  as may  be  necessary  in  the   determination  of  Company  or  Administrative  Agent  (each  in  the  reasonable  exercise  of  its   discretion), (i) two copies of executed Internal Revenue Service Form W-8BEN, W-8BEN-E, W-  8ECI or W-8IMY (including therewith any withholding certificates and withholding statements   required under applicable Treasury Regulations) (or any successor forms), properly completed   and duly executed by such Agent or Lender, and such other documentation required under the   Internal  Revenue  Code  and  the  applicable  Treasury  Regulations  and  reasonably  requested  by   Company to establish that such Agent or Lender is not subject to deduction or withholding or is   subject to a reduced rate of deduction or withholding of United States federal income tax with   respect  to  any  payments  to  such  Agent  or  Lender  of  principal, interest, fees or other amounts   payable under any of the Credit Documents, or (ii) in the case of a Lender claiming the benefits   of the exemption for portfolio interest, if such Lender is not a “bank” or other Person described   in Section 881(c)(3) of the Internal Revenue Code and cannot deliver Internal Revenue Service   Form W-8ECI pursuant to clause (i) above, a U.S. Tax Compliance Certificate together with two   executed  copies  of  Internal  Revenue  Service  Form W-8BEN  or  W-8BEN-E,  as  applicable  (or   any  successor  form),  properly  completed  and  duly  executed  by  such  Lender,  and  such  other   documentation  required  under  the  Internal  Revenue  Code  and  the applicable  Treasury   Regulations and reasonably requested by Company to establish that such Lender is not subject to   deduction or withholding of Tax with respect to any payments to such Lender of interest payable   under any of the Credit Documents.  Each Lender that is organized under the laws of the United   States  or  any  State  or  political  subdivision  thereof  shall,  on or  prior  to  the  Amendment  and   Restatement Effective Date (in the case of each Lender listed on the signature pages hereof on   the Amendment and Restatement Effective Date) or on or prior to the date of the Assignment   Agreement  pursuant  to  which  it  becomes  a  Lender  (in  the  case  of  each  other  Lender),  to  the   extent such Lender is legally entitled to do so, provide Administrative Agent and Company with   two copies of Internal Revenue Service Form W-9 (certifying that such Person is entitled to an   exemption  from  United  States  backup  withholding  tax)  or  any  successor  form,  and  each  such   Lender shall thereafter provide Administrative Agent and Company with such supplements and   amendments  thereto  and  such  additional  forms,  certificates,  statements  or  documents  as  may   from time to time be required by applicable law.  Each Agent and Lender agrees that if any form   or certification it previously delivered expires or becomes obsolete or inaccurate in any respect,   it shall update such form or certification or promptly notify Company and Administrative Agent   in writing of its legal inability to do so.                                        -107-                                             105376510     

 

               (f)   Treatment  of  Certain  Refunds.   If  any  Lender  or  Agent  shall  become  aware that it is entitled to been indemnified pursuant to this Section (including by the payment of  a refund in respect of Taxes paid by Company or as to which it has received additional amounts  pursuant to this  Section  2.20(f)),  it shall  promptly  notify  Company  of  the  availability  of  such  refund and shall, within ninety days after receipt of a request by Company, apply for such refund  at  Company’s  expense.   If  any  Lender  or  Agent  actually  receives  a  refund  in  respect  of  any  Taxes  paid  by  Company  for  which  it  has  been  indemnified  or  as  to  which  it  has  received  additional amounts under this Section 2.20(f)), it shall promptly notify Company of such refund  and  shall,  within  ninety  (90) days  after  receipt  of  a  request  by  Company  (or  promptly  upon  receipt,  if  Company  has  requested  application  for  such  refund  pursuant  hereto),  repay  such  refund to Company (to the extent of indemnity payments made or additional amounts that have  been paid by Company under this Section 2.20(f)) with respect to such refund plus interest that is  received  from  the  relevant  Governmental  Authority  by  such  Lender  or  Agent  as  part  of  the  refund), net of all reasonable out-of-pocket expenses (including Taxes) of such Lender or Agent  and without additional interest thereon; provided that Company, upon the request of such Lender  or Agent, agrees to return such refund to such Lender or Agent (plus penalties, interest or other  charges imposed by the relevant Governmental Authority) in the event such Lender or Agent is  required to repay such refund.  Notwithstanding anything to the contrary in this subsection, in no  event  will  Administrative  Agent  or  any  Lender  be  required  to  pay  any  amount  to  Company  pursuant  to  this  subsection  the  payment  of  which  would  place  Administrative  Agent  or  such  Lender  in  a  less  favorable  net  after-Tax  position  than  such  Administrative  Agent  or  Lender  would have been in if the indemnification payments or additional amounts giving rise to such  refund had never been paid.  Nothing contained in this Section 2.20(f) shall require any Lender  or Agent to make available any of its tax returns (or any other information relating to its taxes  that it deems to be confidential).               (g)   FATCA.  Each Recipient shall deliver to Company and to Administrative  Agent at the time or times prescribed by law and at such time or times reasonably requested by  Company or Administrative Agent such documentation prescribed by applicable law (including  as  prescribed  by  Section 1471(b)(3)(C)(i)  of  the  Internal  Revenue  Code)  and  such  additional  documentation reasonably requested by Company or Administrative Agent as may be necessary  for Company and Administrative Agent to comply with their obligations under FATCA and to  determine that such Lender or Agent has complied with such Person’s obligations under FATCA  or  to  determine  the  amount,  if  any,  to  deduct  and  withhold  from  such  payment.   Solely  for  purposes of this Section 2.20(g), “FATCA” shall include any amendments made to FATCA after  the date of this Agreement.               (h)   For purposes of this Section 2.20, the term “Lender” includes any Issuing  Bank and the term “law” includes FATCA.         2.21  Obligation  to  Mitigate.   Each  Lender  may  make  any  Credit  Extension  to  the  Company through any lending office of such Lender, provided that the exercise of this option  shall not affect the obligation of the Company to repay the Credit Extension in accordance with  the  terms  of  this  Agreement.   Each  Lender  (which  term  shall  include  each  Issuing  Bank  for  purposes  of  this  Section 2.21)  agrees  that,  as  promptly  as  practicable  after  the  officer  of  such  Lender responsible for administering its Loans or Letters of Credit, as the case may be, becomes  aware of the occurrence of an event or the existence of a condition that would cause such Lender                                      -108-                                           105376510    

 

   to  become  an  Affected  Lender  or  that  would  entitle  such  Lender to  receive  payments  under  Section 2.18, 2.19 or 2.20, it will, to the extent not inconsistent with the internal policies of such  Lender  and  any  applicable  legal  or  regulatory  restrictions,  use  reasonable  efforts  to  (a) make,  issue,  fund  or  maintain  its  Credit  Extensions,  including  any  Affected  Loans,  through  another  office of such Lender, or (b) take such other measures as such Lender may in good faith deem  reasonable,  if  as  a  result  thereof  the  circumstances  which  would  cause  such  Lender  to  be  an  Affected  Lender  would  cease  to  exist  or  the  additional  amounts which  would  otherwise  be  required to be paid to such Lender pursuant to Section 2.18, 2.19 or 2.20 would be reduced and  if,  as  determined  by  such  Lender  in  its  sole  discretion,  the  making,  issuing,  funding  or  maintaining  of  such  Revolving  Commitments,  Loans  or  Letters  of Credit  through  such  other  office  or  in  accordance  with  such  other  measures,  as  the  case  may  be,  would  not  otherwise  materially  adversely  affect  such  Revolving  Commitments,  Loans  or  Letters  of  Credit  or  the  interests of such Lender; provided, such Lender will not be obligated to utilize such other office  pursuant to this Section 2.21 unless Company agrees to pay all incremental expenses incurred by  such  Lender  as  a  result  of  utilizing  such  other  office  as  described  in  clause (i)  above.   A  certificate  as  to  the  amount  of  any  such  expenses  payable  by  Company  pursuant  to  this  Section 2.21 (setting forth in reasonable detail the basis for requesting such amount) submitted  by such Lender to Company (with a copy to Administrative Agent) shall be conclusive absent  manifest error.         2.22  Defaulting Lenders.               (a)   Defaulting  Lender  Adjustments.   Anything  contained  herein  to  the  contrary notwithstanding, 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)   Defaulting Lender Waterfall.  Any payment of principal, interest,        fees  or  other  amounts  received  by Administrative  Agent  for  the account  of  such        Defaulting Lender (whether voluntary or mandatory, at maturity, pursuant to Section 8 or        otherwise)  or  received  by  Administrative  Agent  from  a  Defaulting  Lender  pursuant  to        Section 10.4  shall  be  applied  at  such  time  or  times  as  may  be  determined  by        Administrative Agent as follows:  first, to the payment of any amounts owing by such        Defaulting Lender to Administrative Agent hereunder; second, to the payment on a pro        rata basis of any amounts owing by such Defaulting Lender to any Issuing Bank or Swing        Line  Lender  hereunder; third,  to  Cash  Collateralize  each  Issuing  Bank’s  Fronting       Exposure  with  respect  to  such  Defaulting  Lender  in  accordance  with  Section 2.22(d);        fourth, as Company may request (so long as no Default or Event of Default shall have        occurred  and  be  continuing),  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 Administrative Agent; fifth, if so determined by Administrative Agent and       Company, 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 Issuing Bank’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 2.22(d); sixth, to the payment of any        amounts owing to the Lenders, Issuing Banks or Swing Line Lender as a result of any        judgment of a court of competent jurisdiction obtained by any Lender, any Issuing Bank                                      -109-                                           105376510    

 

         or  Swing  Line  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 shall have occurred and be continuing, to the payment of any amounts        owing  to  Company  as  a  result  of  any  judgment  of  a  court  of  competent  jurisdiction        obtained  by  Company  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 reimbursement        obligations with respect to Letters of Credit 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 3.2 were        satisfied  or  waived,  such  payment  shall  be  applied  solely  to  pay  the  Loans  of,  and        reimbursement obligations with respect to Letters of Credit owed to, all Non-Defaulting        Lenders  on a  pro  rata  basis  prior  to  being  applied  to  the  payment  of  any  Loans  of,  or       reimbursement  obligations  with  respect  to  Letters  of  Credit  owed  to,  such  Defaulting       Lender until such time as all Loans and funded and unfunded participations in Letters of       Credit and Swing Line Loans are held by the Lenders pro rata in accordance with the       applicable  Commitments  without giving  effect  to  Section 2.22(a)(iii).   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 2.22(a)(i) shall be deemed paid to and redirected by such Defaulting Lender,        and each Lender irrevocably consents hereto.                     (ii)  Certain Fees.                           (1)   No  Defaulting  Lender  shall  be  entitled  to  receive  any  fee              pursuant  to  Section 2.11(a)  for  any  period  during  which  such  Lender  is  a              Defaulting Lender (and Company shall not be required to pay any such fee that              otherwise  would  have  been  required  to  have  been  paid  to  such  Defaulting              Lender);  provided  that  such  Defaulting  Lender  shall  be  entitled  to  receive  fees              pursuant  to  Section 2.11(a)(ii)  for  any  period  during  which  such  Lender  is  a              Defaulting Lender only to the extent allocable to its Pro Rata Share of the stated              amount of Letters of Credit for which it has provided Cash Collateral pursuant to              Section 2.22(d).                           (2)   With  respect  to  any  fees  not  required  to  be  paid  to  any              Defaulting  Lender  pursuant  to  clause (1)  above,  Company  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  Swing  Line  Loans  that  has  been  reallocated  to  such  Non-             Defaulting Lender pursuant to clause (iii) below, (y) pay to each Issuing Bank the              amount of any such fee otherwise payable to such Defaulting Lender to the extent              allocable  to  each  Issuing  Bank’s  Fronting  Exposure  to  such  Defaulting  Lender,              and (z) not be required to pay the remaining amount of any such fee.                     (iii) Reallocation of Participations to Reduce Fronting Exposure.  All or        any part of such Defaulting Lender’s participation in Letters of Credit and Swing Line                                      -110-                                           105376510    

 

           Loans shall be reallocated among the Non-Defaulting Lenders in accordance with their         respective  Pro  Rata  Shares  (calculated  without  regard  to  such  Defaulting  Lender’s         Revolving Commitment) but only to the extent that such reallocation does not cause the         Revolving  Exposure  (as  determined  in  accordance  with  clause  (ii)  of  the  definition         thereof)  of  any  Non-Defaulting  Lender  to  exceed  such  Non-Defaulting  Lender’s         Revolving  Commitment.   Subject  to  Section  10.26,  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.                      (iv)  Cash Collateral.  If the reallocation described in clause (iii) above         cannot, or can only partially, be effected, Company shall, without prejudice to any right         or remedy available to it hereunder or under law, (x) first, prepay Swing Line Loans in an         amount  equal  to  the  Swing  Line  Lenders’  Fronting  Exposure  and  (y) second,  Cash         Collateralize each Issuing Bank’s Fronting Exposure in accordance with the procedures         set forth in Section 2.22(d).                (b)   Defaulting Lender Cure.  If Company, Administrative Agent, the Swing   Line  Lender  and  each  Issuing  Bank  agree  in  writing  that  a  Lender  is  no  longer  a  Defaulting   Lender, Administrative Agent 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  Administrative  Agent  may  determine  to  be  necessary  to  cause the  Loans  and  funded  and   unfunded  participations  in  Letters  of  Credit  and  Swing  Line  Loans  to  be  held  pro  rata  by  the  Lenders  in  accordance  with  the  applicable  Commitments  (without giving  effect  to  Section 2.22(a)(iii), 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 Company 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 having been a Defaulting Lender.                (c)   [Reserved]                (d)   Cash Collateral.  At any time that there shall exist a Defaulting Lender,   within  one  (1) Business  Day  following  the  written  request  of  Administrative  Agent  or  any   Issuing  Bank  (with  a  copy  to  Administrative  Agent)  Company  shall  Cash  Collateralize  such   Issuing  Bank’s  Fronting  Exposure  with  respect  to  such  Defaulting  Lender  (determined  after   giving effect to Section 2.22(a)(iii) and any Cash Collateral provided by such Defaulting Lender)   in an amount not less than the Minimum Collateral Amount.                      (i)   Grant of Security Interest.  Company, and to the extent provided         by  any  Defaulting  Lender,  such  Defaulting  Lender,  hereby  grants  to  Administrative         Agent,  for  the  benefit  of  each  Issuing  Bank,  and  agrees  to  maintain,  a  first  priority         security  interest  in  all  such  Cash  Collateral  as  security  for  the  Defaulting  Lenders’                                       -111-                                             105376510     

 

         obligation to fund participations in respect of Letters of Credit, to be applied pursuant to        clause (ii) below.  If at any time Administrative Agent determines that Cash Collateral is        subject  to  any  right  or  claim  of  any  Person  other  than  Administrative  Agent  and  each        Issuing Bank as herein provided, or that the total amount of such Cash Collateral is less        than  the  Minimum  Collateral  Amount,  Company  will,  promptly  upon  demand  by        Administrative Agent, pay or provide to Administrative Agent additional Cash Collateral        in  an  amount  sufficient  to  eliminate  such  deficiency  (after  giving  effect  to  any  Cash        Collateral provided by the Defaulting Lender).                      (ii)  Application.  Notwithstanding  anything  to  the contrary  contained        in this Agreement, Cash Collateral provided under this Section 2.22 in respect of Letters        of Credit shall be applied to the satisfaction of the Defaulting Lender’s obligation to fund        participations in respect of Letters of Credit (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.                      (iii) Termination of Requirement.  Cash Collateral (or the appropriate        portion thereof) provided to reduce any Issuing Bank’s Fronting Exposure shall no longer        be required to be held as Cash Collateral pursuant to this Section 2.22 following (x) the        elimination  of  the  applicable  Fronting  Exposure  (including  by  the  termination  of        Defaulting  Lender  status  of  the applicable  Lender)  or  (y) the  determination  by        Administrative  Agent  and  such  Issuing  Bank  that  there  exists  excess  Cash  Collateral;        provided  that  subject to  the  other  provisions  of  this  Section 2.22,  the Person  providing        Cash Collateral and such Issuing Bank may agree that Cash Collateral shall be held to        support future anticipated Fronting Exposure or other obligations; provided, further, that        to the extent that such Cash Collateral was provided by Company, such Cash Collateral        shall remain subject to the security interest granted pursuant to the Credit Documents.                (e)   Lender  Counterparties.   So  long  as  any  Lender  is  a  Defaulting  Lender,  such Lender shall not be a Lender Counterparty with respect to any Permitted Hedge Agreement  or  Permitted  Cash  Management  Agreement  entered  into  while  such Lender  was  a  Defaulting  Lender.         2.23  Removal  or  Replacement  of  a  Lender.   Anything  contained  herein  to  the  contrary notwithstanding, in the event that:  (a) (i) any Lender (an “Increased-Cost  Lender”)  shall  give  notice  to  Company  that  such  Lender  is  an  Affected  Lender  or  that  such  Lender  is  entitled to receive payments under Section 2.18 (other than Section 2.18(c)), 2.19 or 2.20, (ii) the  circumstances which have caused such Lender to be an Affected Lender or which entitle such  Lender  to  receive  such  payments  shall  remain  in  effect,  and  (iii) such  Lender  shall  fail  to  withdraw  such  notice  within  five  (5) Business  Days  after  Company’s  request  for  such  withdrawal;  or  (b)  (i) any  Lender  shall  become  and  continues  to  be  a  Defaulting  Lender  and  (ii) such  Defaulting  Lender  shall  fail  to  cure  the  default  as  a  result  of  which  it  has  become  a  Defaulting Lender, pursuant to Section 2.22(b), within five (5) Business Days after Company’s  request  that  it  cure  such  default;  or  (c) in  connection  with  any  proposed  amendment,  modification,  termination,  waiver  or  consent  with  respect  to  any  of  the  provisions  hereof  as  contemplated by Section 10.5(b), the consent of Requisite Lenders (or Requisite Class Lenders,                                      -112-                                           105376510    

 

     as applicable) shall have been obtained, but the consent of one or more of such other Lenders   (each a “Non-Consenting Lender”) whose consent is required shall not have been obtained (a   “Proposed  Modification”); then, with respect to each such Increased-Cost Lender, Defaulting  Lender  or  Non-Consenting  Lender  (the  “Terminated  Lender”),  Company  may,  by  giving  written notice to Administrative Agent and any Terminated Lender of its election to do so, elect  to  cause  such  Terminated  Lender  (and  such  Terminated  Lender  hereby  irrevocably  agrees)  to  assign all or any part of its outstanding Loans and its Revolving Commitments, if any, in full to  one  or  more  Eligible  Assignees  (each  a  “Replacement  Lender”)  in  accordance  with  the  provisions  of  Section 10.6  and  Terminated  Lender  shall  pay  any fees  payable  thereunder  in   connection with such assignment from an Increased-Cost Lender, a Non-Consenting Lender or a   Defaulting Lender; provided, (1) on the date of such assignment, the Replacement Lender shall   pay to Terminated Lender an amount equal to the sum of (A) an amount equal to the principal of,   and all accrued interest on, all outstanding Loans of the Terminated Lender, (B) an amount equal   to all unreimbursed drawings that have been funded by such Terminated Lender, together with   all then unpaid interest with respect thereto at such time and (C) an amount equal to all accrued,   but theretofore unpaid fees owing to such Terminated Lender pursuant to Section 2.11; (2) on the   date of such assignment, Company shall pay any amounts payable to such Terminated Lender   pursuant  to  Section 2.18(c),  2.19  or 2.20;  (3) in  the  event  such  Terminated  Lender  is  a   Non-Consenting Lender, each Replacement Lender shall consent, at the time of such assignment,   to each matter in respect of which such Terminated Lender was a Non-Consenting Lender; (4) in   the case of any such assignment resulting from a claim for compensation under Section 2.19 or   payments required to be made pursuant to Section 2.20, such assignment will result in reduction   in such compensation or payments thereafter; (5) Administrative Agent shall have been paid the   assignment fee (if any) specified in Section 10.6; and (6) such assignment does not conflict with   applicable laws; provided, Company may not make such election with respect to any Terminated   Lender that is also an Issuing Bank unless, prior to the effectiveness of such election, Company   shall have caused each outstanding Letter of Credit issued thereby to be cancelled, fully Cash   Collateralized or supported by a “back-to-back” Letter of Credit reasonably satisfactory to such   Terminated Lender.  In connection with any such replacement, if the replaced Lender does not   execute and deliver to Administrative Agent a duly completed Assignment Agreement reflecting   such replacement within a period of time deemed reasonable by Administrative Agent, then such   replaced Lender shall be deemed to have executed and delivered such Assignment Agreement.   Upon the prepayment of all amounts owing to any Terminated Lender and the termination of  such  Terminated  Lender’s  Revolving  Commitments,  if  any,  such  Terminated  Lender  shall  no  longer  constitute  a  “Lender”  for  purposes  hereof;  provided,  any  rights  of  such  Terminated   Lender to indemnification hereunder shall survive as to such Terminated Lender.  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  Company  to  require  such   assignment and delegation cease to apply.          2.24  Incremental Facilities.                (a)   Company may by written notice to Administrative Agent elect to request   (A) prior to the Revolving Commitment Termination Date, an increase to the existing Revolving   Commitments (such increase, the “Additional  Revolving  Commitments”) and/or  (B) prior  to   the Term Loan Maturity Date the establishment of one or more new term loan commitments (the                                        -113-                                             105376510     

 

     “Additional  Term  Loan  Commitments”),  in  an  amount,  with  respect  to  clauses (A)  and   (B) collectively, not in excess of Maximum Incremental Facilities Amount in the aggregate and   not  less  than  $10,000,000  individually  (or  such  lesser  amount  which  shall  be  approved  by   Administrative  Agent  or  such  lesser  amount  that  shall  constitute  the  difference  between   Maximum Incremental Facilities Amount and all such Additional Term Loan Commitments and   Additional  Revolving  Commitments obtained  prior  to  such  date), and  integral  multiples  of   $10,000,000  in  excess  of  that  amount.   Each  such  notice  shall  specify  (A) the  date  (each,  an   “Increased  Amount  Date”)  on  which  Company  proposes  that  the  Additional  Term  Loan   Commitments  or  Additional  Revolving  Commitments,  as  applicable,  shall  be  effective,  which   shall  be  a  date  not  less  than  ten  (10) Business  Days  after  the date  on  which  such  notice  is   delivered to Administrative Agent and (B) the identity of each Lender or other Person that is an   Eligible  Assignee  (each,  an  “Additional  Term  Loan  Lender”  or  “Additional  Revolving   Lender”, as applicable) to whom Company proposes any portion of such Additional Term Loan   Commitments  or  Additional  Revolving  Commitments,  as  applicable,  be  allocated  and  the   amounts of such allocations; provided that any Lender approached to provide all or a portion of   the Additional Term Loan Commitments or Additional Revolving Commitments, as applicable,   may elect or decline, in its sole discretion, to provide such commitment.  Such Additional Term   Loan Commitments or Additional Revolving Commitments shall become effective, as of such   Increased  Amount  Date;  provided  that,  subject  to  Section  1.11, (1) no  Default  or  Event  of   Default  shall  exist  on  such  Increased  Amount  Date  before  or  after  giving  effect  to  such   Additional  Term  Loan  Commitments  or  Additional  Revolving  Commitments,  as  applicable;   (2) both before and after giving effect to the making of any Additional Revolving Loan or Series   of  Additional  Term  Loans,  each  of  the  conditions  set  forth  in  Section 3.2  shall  be  satisfied;   (3) with respect to any request for Additional Term Loan Commitments or Additional Revolving   Commitments,  as  applicable,  Company  and  its  Restricted  Subsidiaries  shall  be  in  compliance   with the covenants set forth in Section 6.7 as of the last day of the most recently ended Fiscal   Quarter for which financial statements are available (after giving effect to all Additional Term   Loan  Commitments  and  Additional  Revolving  Commitments  requested  at  such  time);  (4) the   Additional Term Loan Commitments or Additional Revolving Commitments, as applicable, shall   be effected pursuant to one or more Joinder Agreements executed and delivered by the relevant   Additional  Term  Loan  Lender  and/or  Additional  Revolving  Lender,  each  Credit  Party  and  Administrative Agent, and each of which shall be recorded in the Register and shall be subject to  the requirements set forth in Sections 2.20(e) and (g); (5) Company shall make any payments   required pursuant to Section 2.18(c) in connection with the Additional Term Loan Commitments   or Additional Revolving Commitments, as applicable; and (6) Company shall deliver or cause to   be  delivered  any  legal  opinions  or  other  documents  reasonably  requested  by  Administrative   Agent  in  connection  with  any  such  transaction.   Any  Additional Term  Loans  made  on  an   Increased  Amount  Date  shall  be  designated  a  separate  series  (a “Series”)  of  Additional  Term   Loans, for all purposes of this Agreement.                (b)   On  any  Increased  Amount  Date  on  which  any  Additional  Term  Loan   Commitments of any Series are effective, subject to the satisfaction of the foregoing terms and   conditions, (i) each Additional Term Loan Lender of any Series shall make a Loan to Company   (an “Additional Term Loan”) in an amount equal to its Additional Term Loan Commitment of   such  Series,  and  (ii) each  Additional  Term  Loan  Lender  of  any  Series shall  become  a  Lender                                        -114-                                             105376510     

 

     hereunder  with  respect  to  the  Additional  Term  Loan  Commitment  of  such  Series  and  the   Additional Term Loans of such Series made pursuant thereto.                (c)   On  any  Increased  Amount  Date  on  which  Additional  Revolving   Commitments  are  effected,  subject  to  the  satisfaction  of  the  foregoing  terms  and  conditions,   (i) each of the Revolving Lenders shall assign to each of the Additional Revolving Lenders, and   each of the Additional Revolving Lenders shall purchase from each of the Revolving Lenders, at   the  principal  amount  thereof  (together  with  accrued  interest), such  interests  in  the  Revolving   Loans  outstanding  on  such  Increased  Amount  Date  as  shall  be  necessary  in  order  that,  after   giving effect to all such assignments and purchases, such Revolving Loans will be held by the   existing Revolving Lenders and Additional Revolving Lenders ratably in accordance with their   Revolving  Commitments  after  giving  effect  to  the  addition  of  such  Additional  Revolving   Commitments to the Revolving Commitments, (ii) each Additional Revolving Commitment shall   be  deemed  for  all  purposes  a  Revolving  Commitment  and  each  Loan  made  thereunder  (an   “Additional  Revolving  Loan”)  shall  be  deemed,  for  all  purposes,  a  Revolving  Loan  and  (iii) each  Additional  Revolving  Lender  shall  become  a  Lender  with  respect  to  the  Additional  Revolving Commitment and all matters relating thereto.               (d)   Administrative  Agent  shall  notify  Lenders  promptly  upon  receipt of  Company’s  notice  of  each  Increased  Amount  Date  and  in  respect  thereof  (i) the  Additional  Revolving Commitments and Additional Revolving Lenders, the Series of Additional Term Loan  Commitments and the Additional Term Loan Lenders of such Series, as applicable, and (ii) in  the  case  of  each  notice  to  any  Revolving  Lender,  the  respective  interests  in  such  Revolving  Lender’s  Revolving  Loans,  in  each  case  subject  to  the  assignments  contemplated  by  this  Section 2.24.                (e)   The  terms  and  provisions  of  the  Additional  Term  Loans  and  Additional  Term Loan Commitments of any Series shall be, except as otherwise set forth herein or in the  Joinder Agreement, substantially consistent with the Term Loans and Term Loan Commitments.   In  any  event  (i) the  Weighted  Average  Life  to  Maturity  of  all  Additional  Term  Loans  of  any  Series shall be no shorter than the Weighted Average Life to Maturity of Term Loans, (ii) the  applicable Additional Term Loan Maturity Date of each Series shall be no shorter than the Latest  Maturity Date of the Term Loans (as determined on the date of incurrence of such Additional  Term Loans) and (iii) the rate of interest applicable to the Additional Term Loans of each Series  shall be determined by Company and the applicable new Lenders and shall be set forth in each  applicable Joinder Agreement; provided that the interest rate margin (which shall be deemed to   include all upfront fees or original issue discount (“OID”) (other than customary underwriting or   arranger fees, and with respect to OID and upfront fees, determined based on an assumed four   year life to maturity) or interest rate “floors” payable to all Additional Term Loan Lenders) in   respect of any Additional Term Loan shall be the same as that applicable to the Term Loans,   except  that  the  interest  rate  margin  (determined  as  above)  in  respect  of  any  Additional  Term   Loan  may  exceed  the  interest  rate  margin  (determined  as  above) for  the  Term  Loans,   respectively, by no more than 50 basis points, or if it does so exceed, such interest rate margin   (determined  as  above)  of  the  Term  Loans  shall  be  increased  so  that  the  interest  rate  margin   (determined as above) in respect of such Additional Term Loans, is no more than 50 basis points   higher than the interest rate margin (determined as above) of the Term Loans.  The terms and   provisions of the Additional Revolving Commitments and Additional Revolving Loans shall be                                       -115-                                             105376510     

 

     the  same  (except  for  fees)  with  the  Revolving  Commitments  and  Revolving  Loans,  except  as   otherwise set forth herein or in the Joinder Agreement (it being acknowledged that Additional   Revolving Commitments may be documented as an increase of the Revolving Commitments or   as a separate class of revolving commitments). Each Joinder Agreement may, without consent of   any other Lenders, effect such amendments to this Agreement and the other Credit Documents as   may be necessary or appropriate, in the opinion of Administrative Agent, to effect the provision   of this Section 2.24.          2.25  Extension Option.                (a)   Notwithstanding  anything  to  the  contrary  set  forth  in  this  Agreement   (including without limitation, Sections 2.5 and 10.5 (which provisions shall not be applicable to   this  Section 2.25  except  as  expressly  provided below  in  this  Section 2.25) or any other Credit   Document,  Company  may  at  any  time  and  from  time  to  time  request  that  the  scheduled  final   maturity  date  of  all  or  a  portion  of  the  Term  Loans  of  any  Class (an  “Existing Term Loan   Class”)  be  extended  (any  such  Term  Loans  which  have  been  so  extended,  “Extended  Term  Loans”) and to provide for other terms consistent with this Section 2.25.  In order to establish   any Extended Term Loans, Company shall provide a notice to Administrative Agent (who shall   provide a copy of such notice to each of the Lenders of the applicable Existing Term Loan Class)   (a “Term  Loan  Extension  Request”) setting forth the proposed terms of the Extended Term  Loans to be established, which terms shall be identical to the Term Loans of the Existing Term  Loan Class from which they are to be extended except (i) the scheduled final maturity date shall  be  extended  and  all  or  any  of  the scheduled  amortization payments of all or a portion of any  principal amount of such Extended Term Loans may be delayed to later dates than the scheduled  amortization  of  principal  of  the  Term  Loans  of  such  Existing  Term  Loan  Class,  (ii)(A) the  interest  margins  with  respect  to  the  Extended  Term  Loans  may  be  higher  or  lower  than  the  interest margins for the Term Loans of such Existing Term Loan Class and (B) additional fees  may be payable to the Lenders providing such Extended Term Loans in addition to or in lieu of  any  increased  margins  contemplated  by  the  preceding  clause (A),  in  each  case,  to  the  extent  provided in the applicable Extension Amendment (as defined below) and (iii) the voluntary and  mandatory prepayment rights of the Extended Term Loans shall be subject to the provisions set  forth in Section 2.13 and Section 2.14.  No Lender shall have any obligation to agree to have any   of  its  Term  Loans  of  any  Existing  Term  Loan  Class  converted  into  Extended  Term  Loans   pursuant to any Term Loan Extension Request.  Any Extended Term Loans made pursuant to   any  Term  Loan  Extension  Request  shall  constitute  a  separate  Class  of  Term  Loans  from  the   Existing Term Loan Class of Term Loans from which they were extended.                (b)   Company  may  at  any  time  and  from  time  to  time  request  that  the   termination date of all or a portion of the Revolving Commitments then in effect (each existing at   the time of such request, an “Existing Revolving Commitment” and any related revolving loans   thereunder, “Existing Revolving Loans”) be extended and the scheduled maturity date(s) of any   payment of principal with respect to all or a portion of any principal amount of Revolving Loans   related to such Existing Revolving Commitments (any such Existing Revolving Commitments   which have been so extended, “Future  Extended  Revolving  Commitments” and any related   Loans, “Future Extended Revolving Loans”) and to provide for other terms consistent with this   Section 2.25.   In  order  to  establish  any  Future  Extended  Revolving  Commitments,  Company   shall provide a notice to Administrative Agent (who shall provide a copy of such notice to each                                       -116-                                             105376510     

 

     of  the  Lenders  of  the  applicable  class  of  Existing  Revolving  Commitments)  (a  “Revolving   Commitment  Extension  Request”)  setting  forth  the  proposed  terms  of  the  Future  Extended   Revolving Commitments to be established, which terms shall be identical to those applicable to   the  Existing  Revolving  Commitments  from  which  they  are  to  be  extended  (the  “Specified   Existing  Revolving  Commitment”)  except  (x) all  or  any  of  the  final  maturity  dates  of  such   Future  Extended  Revolving  Loans  and  or  all  or  any  of  the  termination  dates  of  such  Future   Extended Revolving Commitments may be delayed to later dates than the final termination dates   of  the  Specified  Existing  Revolving  Commitments  and  final  maturity  dates  of  the  Revolving   Loans related to such Specified Existing Revolving Commitments, (ii) (A) the interest margins   with respect to the Future Extended Revolving Loans may be higher or lower than the interest   margins  for  the  applicable  Revolving  Loans  related  to  such  Specified  Existing  Revolving   Commitments and/or (B) additional fees may be payable to the Lenders providing such Future   Extended  Revolving  Commitments  in  addition  to  or  in  lieu  of  any  increased  margins   contemplated  by  the  preceding  clause (A)  and  (iii) the  Revolving  Commitment  fee  rate  with   respect  to  the  Future  Extended  Revolving  Commitments  may  be  higher  or  lower  than  the   Commitment Fee Rate for the Specified Existing Revolving Commitment, in each case, to the   extent provided in the applicable Extension Amendment; provided that notwithstanding anything   to the contrary in this Section 2.25 or otherwise, (1) the borrowing and repayment (other than in   connection with a permanent repayment and termination of commitments) of Loans with respect   to  Revolving  Commitments  shall  be  made  on  a  pro  rata  basis  with  all  other  Revolving   Commitments,  and  (2) assignments  and  participations  of  Future  Extended  Revolving   Commitments and Future Extended Revolving Loans shall be governed by the same assignment   and  participation  provisions  applicable  to  Revolving  Commitments  and  the  Revolving  Loans   related  to  such  Commitments  set  forth  in  Section 10.6.   Any  Future  Extended  Revolving   Commitments made pursuant to any Revolving Commitment Extension Request shall constitute   a separate class of revolving commitments from the Specified Existing Revolving Commitments   and from any other Existing Revolving Commitments (together with any other Future Extended   Revolving Commitments so established on such date).                (c)   Company  shall  provide  the  applicable  Extension  Request  at  least ten  (10) Business Days prior to the date on which Lenders under the class are requested to respond.   Any  Lender  (an  “Extending  Lender”)  wishing  to  have  all  or  a portion  of  its  Term  Loans  or  Revolving  Commitments  subject  to  such  Extension  Request  converted  into  Extended  Term  Loans,  Future  Extended  Revolving Commitments  or  Future  Extended  Revolving  Loans  shall  notify Administrative Agent (an “Extension Election”) on or prior to the date specified in such  Extension Request of the amount of its Term Loans or Revolving Commitments which it has  elected  to  convert  into  Extended  Term  Loans,  Future  Extended  Revolving  Commitments  or  Future Extended Revolving Loans.  In the event that the aggregate amount of Term Loans or  Revolving Commitments subject to Extension Elections exceeds the amount of Extended Term  Loans,  Future  Extended  Revolving  Commitments  or  Future  Extended  Revolving  Loans  requested pursuant to the Extension Request, Term Loans or Revolving Commitments subject to  Extension  Elections  shall  be  converted  to  Term  Loans,  Future  Extended  Revolving  Commitments or Future Extended Revolving Loans on a pro rata basis based on the amount of  Term  Loans  or  Revolving  Commitments  included  in  each  such  Extension  Election.   Notwithstanding the conversion of any Existing Revolving Commitment into a Future Extended  Revolving  Commitment,  such  Future  Extended  Revolving  Commitment  shall  be  treated                                        -117-                                             105376510     

 

     identically  to  all  other  Existing  Revolving  Commitments  for  purposes  of  the  obligations  of  a   Revolving Lender in respect of Swing Line Loans under Section 2.3 and Letters of Credit under   Section 2.4, except that the applicable Extension Amendment may provide that the Swing Line   Lender’s Revolving Commitment may be extended and/or the expiration of the Letter of Credit   may  be  extended  and  the  related  obligations  to  make  Swing  Line Loans  and  issue  Letters  of   Credit may be continued so long as the Swing Line Lender and/or the applicable Issuing Bank,   as  applicable,  have  consented  to  such  extensions  (it  being  understood  that  no  consent  of  any   other Lender shall be required in connection with any such extension).                (d)   Extended  Term  Loans,  Future  Extended  Revolving  Commitments,  and   Future  Extended  Revolving  Loans  shall  be  established  pursuant  to  an  amendment  (an   “Extension  Amendment”)  to  this  Agreement  (and  notwithstanding  anything  to  contrary set   forth in  Section  10.5,  shall  not  require  the  consent  of  any  Lender  other  than  the  Extending   Lenders (and to the extent provided in the last sentence of Section 2.25(c), the Issuing Bank and   Swing  Line  Lender)  with  respect  to  the  Extended  Term  Loans,  Future  Extended  Revolving   Commitments and Future Extended Revolving Loans established thereby) executed by the Credit   Parties,  Administrative  Agent  and  Extending  Lenders.   In  addition  to  any  terms  and  changes   required  or  permitted  by  Sections 2.25(a)  and  (b),  each  Extension  Amendment  in  respect  of   Extended  Term  Loans  shall  amend  the  scheduled  amortization  payments  pursuant  to   Section 2.12 to the existing Term Loans from which the Extended Term Loans were converted to   reduce each scheduled repayment for such existing Term Loans in the same proportion as the   amount of such existing Term Loans is to be reduced pursuant to such Extension Amendment (it   being understood that the amount of any repayment payable with respect to any Term Loan of   any Lender of such existing Term Loan that is not an Extended Term Loan shall not be reduced   as a result thereof).  In connection with any Extension Amendment, Company shall deliver an   opinion of counsel reasonably acceptable to Administrative Agent (i) as to the enforceability of   such Extension Amendment, this Agreement as amended thereby, and such of the other Credit   Documents (if any) as may be amended thereby (in the case of such other Credit Documents) and   (ii) to  the  effect  that  such  Extension  Amendment,  including  without  limitation,  the  Extended   Term Loans, Future Extended Revolving Commitments and Future Extended Revolving Loans   provided for therein, does not conflict with or violate the terms and provisions of Section 10.5 of   this Agreement.                (e)   Notwithstanding anything to the contrary contained in this Agreement, on  any date on which any existing Term Loan or Revolving Commitments are converted to extend  the  related  scheduled  maturity  date(s)  in  accordance  with  paragraphs (a)  or  (b) above  (an  “Extension  Date”),  (i) in  the  case  of  the  existing  Term  Loans  of  each  Extending  Lender,  the  aggregate principal amount of such existing Term Loans shall be deemed reduced by an amount  equal to the aggregate principal amount of Extended Term Loans so converted by such Lender  on  such  date,  and  the  Extended  Term  Loans  shall  be  established as  a  separate  Class  of  Term  Loans  (together  with  any  other  Extended  Term  Loans  so  established  on  such  date),  (ii) in  the  case of the specified Existing Revolving Commitments of each Extending Lender, the aggregate  principal amount of such specified Existing Revolving Commitments shall be deemed reduced  by  an  amount  equal  to  the  aggregate  principal  amount  of  Future Extended  Revolving  Commitments so converted by such Lender on such date, and such Future Extended Revolving  Commitments  shall  be  established  as  a  separate  class  of  Revolving  Commitments  from  the                                        -118-                                             105376510     

 

     Specified  Existing  Revolving  Commitments  and  from  any  other  Existing  Revolving  Commitments (together with any other Future Extended Revolving Commitments so established  on  such  date)  and  (iii) if,  on  any  Extension  Date,  any  Loans  of  any  Extending  Lender  are  outstanding under the applicable Specified Existing Revolving Commitments, such Loans (and  any related participations) shall be deemed to be allocated as Future Extended Revolving Loans  (and related participations) and Existing Revolving Loans (and related participations) in the same  proportion  as  such  Extending  Lender’s  Specified  Existing  Revolving  Commitments  to  Future  Extended Revolving Commitments.   SECTION 3.  CONDITIONS PRECEDENT         3.1   Conditions to Amendment and Restatement.  This Agreement (as amended and  restated) shall become effective on and as of the date on which all of the following conditions  precedent shall have been satisfied:               (a)   Approval  of  Amendment  and  Restatement.   Administrative  Agent  shall   have  received  (i)  from  each  party  hereto  a  counterpart  of  this Agreement  signed  on  behalf  of   such  party  and  (ii)  from  each  other  lender  under  the  First  Amended  and  Restated  Credit   Agreement,  a  confirmation  of  the  termination  of  the  commitment of  such  lender  substantially   simultaneously  with  the  making  of  the  Loans  on  the  Amendment  and  Restatement  Effective   Date.                (b)   Organizational Documents; Incumbency.  Administrative Agent shall have   received (i) (x) a certificate from an Authorized Officer of such Credit Party stating that there has  been  no  amendment  or  other  modification  to  such  Organizational Documents  since  the  First  Amendment and Restatement Effective Date, to the extent such Credit Party was a party to the  First  Amended  and  Restated  Credit  Agreement  on  the  First  Amendment  and  Restatement  Effective Date, and if such Credit Party was not a party to the First Amended and Restated Credit  Agreement on the First Amendment and Restatement Effective Date, then since the date of the  applicable  Counterpart  Agreement,  as  applicable,  in  each  case  dated  the  Amendment  and  Restatement Effective Date or a recent date prior thereto or (y) a copy of each Organizational  Document of such Credit Party, and, to the extent applicable, certified as of a recent date by the  appropriate governmental official, each dated the Amendment and Restatement Effective Date or  a  recent  date  prior  thereto;  (ii) signature  and  incumbency  certificates  of  the  officers  of  such  Person executing the Credit Documents to which it is a party; (iii) resolutions of the board of  directors  or  similar  governing body  of  Holding,  Company  and  each  Guarantor  Subsidiary  approving and authorizing the execution, delivery and performance of this Agreement and the  other Credit Documents to which it is a party or by which it or its assets may be bound as of the  Amendment  and  Restatement  Effective  Date,  certified  as  of  the  Amendment  and  Restatement  Effective Date by its secretary or an assistant secretary as being in full force and effect without  modification or amendment; and (iv) a long form good standing certificate from the applicable  Governmental  Authority  of  the  jurisdiction  of  incorporation,  organization  or  formation  of  Holding,  Company  and  each  Guarantor  Subsidiary,  each  dated  a  recent  date  prior  to  the  Amendment and Restatement Effective Date.               (c)   Registrations and Recordings.  Administrative Agent shall be reasonably   satisfied  that  the  previously  filed  UCC  financing  statements  and  other  filings  and  recordings                                       -119-                                             105376510     

 

     made under the Original Credit Agreement provide for the continued perfection of the security   interest of the Administrative Agent in the Collateral.                  (d)   Initial  Term  Loans;  Revolving  Loan  Obligations.   The  Administrative   Agent  shall  have  received  evidence  reasonably  satisfactory  to  it  that  a  prepayment  notice  has   been issued specifying that (i) the Initial Term Loans are being repaid (or arrangements pursuant   to Section 2.9(c) have been made with respect to the Initial Terms Loans) in full, substantially   simultaneously  with  the  making  of  the  Term  Loans  on  the  Amendment  and  Restatement   Effective Date, and (ii) accrued interest and fees with respect to the revolving credit extensions   under the First Amended and Restated Credit Agreement are being repaid in full, substantially   simultaneously  with  the  making  of  the  Loans  on  the  Amendment  and  Restatement  Effective   Date.                (e)   Opinions of Counsel to Credit Parties.  The Administrative Agent and its   counsel  shall  have  received  executed  copies  of  the  written  opinions  of  (i) Milbank,  Tweed,   Hadley & McCloy LLP, counsel for Credit Parties and (ii) Timothy Simpson as general counsel   to  Company,  dated  as  of  the  Amendment  and  Restatement  Effective  Date  and  in  form  and   substance  consistent  with  the  opinions  delivered  on  the  Closing  Date  (and  each  Credit  Party   hereby instructs such counsel to deliver such opinions to Agents and Lenders).                (f)   Fees.  Company shall have paid to certain Lead Arrangers, Administrative   Agent  and  Lenders,  all  reasonable  and  documented  fees  and  expenses  payable  on  the   Amendment and Restatement Effective Date to the extent invoiced at least three (3) Business   Days before the Amendment and Restatement Effective Date.                (g)   Solvency  Certificate.   On  the  Amendment  and  Restatement  Effective   Date, Administrative Agent shall have received a Solvency Certificate from Holding dated the  Amendment  and  Restatement  Effective  Date  and  addressed  to  Administrative  Agent  and  Lenders,  and  in  the  form  of  Exhibit G  hereto  demonstrating  that  after  giving  effect  to  the   Transactions,  and  the  borrowings  under  this  Agreement,  Holding  and  its  Subsidiaries  on  a   consolidated basis are Solvent.                (h)   Financial  Statements;  Projections.  Administrative  Agent  shall  have   received  from  Holding  and  Company  (i)  the  Historical  Financial  Statements  and  (ii) the   Projections.  Administrative  Agent  hereby  acknowledges  and  agrees  that  it  has  received  all   financial statements and Projections required to be delivered under this Section 3.1(h).                (i)   Flood  Insurance.   Administrative  Agent  shall  have  received  a  “Life-of-  Loan”  Federal  Emergency  Management  Agency  Standard  Flood  Hazard  Determination  with   respect to the real property that is subject to a Mortgage.                (j)   Certain  Amended  and  Restated  Documents.  Administrative  Agent  shall   have received from each party thereto a counterpart the Pledge and Security Agreement,  Master   Intercompany Note and Intercompany Subordination Agreement, signed on behalf of each such  party.                                          -120-                                             105376510     

 

               (k)   Pledged Stock; Pledged Debt.  To the extent not previously delivered prior  to the Amendment and Restatement Effective Date, the Collateral Agent shall have received (i)  each certificate representing the shares of Capital Stock required to be pledged pursuant to the  Pledge and Security Agreement and Holding Pledge Agreement, together with an undated stock  power  for  each  such  certificate executed  in  blank  by  a  duly  authorized  officer  of  the  pledgor  thereof, and (ii) each promissory note pledged pursuant to the Pledge and Security Agreement  endorsed  (without  recourse)  in  blank  (or  accompanied  by  an  executed  transfer  form  in  blank  satisfactory to the Collateral Agent) by the pledgor thereof.               (l)   KYC Information.                      (i)   Upon the reasonable request of any Lender made at least 10 days        prior  to  the  Amendment  and  Restatement  Effective  Date,  the  Company  shall  have        provided  to  such  Lender,  and  such  Lender  shall  be  reasonably  satisfied  with,  the        documentation and other information so requested in connection with applicable “know        your  customer”  and  anti-money-laundering  rules  and  regulations,  including,  without        limitation, the PATRIOT Act, in each case at least 5 days prior to the Amendment and        Restatement Effective Date.                     (ii)  At least 5 days prior to the Amendment and Restatement Effective        Date,  if  the  Company  qualifies  as  a  “legal  entity  customer”  under  the  Beneficial        Ownership  Regulation,  the  Company  shall  deliver,  to  each  Lender  that  so  requests,  a        Beneficial Ownership Certification in relation to the Company.               (m)   Real  Estate.   Collateral  Agent  shall  have  received  from  the  applicable  Guarantor:                     (i)   a  fully  executed  and  notarized  amendment  (each  a  “Mortgage        Amendment”)  to  each  Mortgage  that  exists  as  of  the  Amendment  and  Restatement        Effective  Date  after  giving  effect  to  any  releases  contemplated  to  occur  on  the        Amendment  and  Restatement  Effective  Date  (each  an  “Existing  Mortgage”;  each        Existing  Mortgage,  as  amended  by  the  applicable  Mortgage  Amendment, shall be        referred to collectively as an “Amended Mortgage”), in proper form for recording in all        appropriate  places  in  all  applicable  jurisdictions,  which  Mortgage  Amendments  shall        continue the liens created by the applicable Existing Mortgages;                     (ii)  with  respect  to  each  Mortgage  Amendment,  a  date  down        endorsement  to  the  existing  ALTA  mortgagee  title  insurance  policies  covering  the        applicable Existing Mortgage, in form and substance reasonably satisfactory to Collateral        Agent showing that the applicable Amended Mortgage is First Priority Lien subject only        to Permitted Liens, and evidence reasonably satisfactory to Collateral Agent of payment        of all expenses, title insurance premiums and all other sums required in connection with        the issuance of the date down endorsements and all recording and stamp taxes (including        mortgage  recording  and  intangible  taxes)  payable  in  connection with  recording  the        Mortgage Amendments in the appropriate real estate records;                                       -121-                                           105376510    

 

                       (iii) with  respect  to  each  Amended  Mortgage,  opinions,  addressed  to         Administrative Agent, Collateral Agent and the other Lenders of (A) outside counsel or         in-house  counsel  (consistent  with  those  required  on  the  Closing  Date),  as  to  the  due         authorization, execution and delivery of the Mortgage Amendments by Company or any        Guarantor, as applicable, and (B) local counsel in each jurisdiction where the properties        covered by the Amended Mortgages are located as to other customary opinions relating        to the Mortgage Amendments and the Amended Mortgages; and                     (iv)  with  respect  to  each  Mortgage  Amendment,  such  affidavits,        certificates, instruments of indemnification and other items (including a so-called “gap”        indemnification) as shall be reasonably required to induce the Title Company to issue the        date down endorsements contemplated above.         Each Lender, by delivering its signature page to this Agreement, shall be deemed to have  acknowledged receipt of, and consented to and approved, each Credit Document and each other  document required to be approved by any Agent, Requisite Lenders or Lenders, as applicable on  the Amendment and Restatement Effective Date unless Administrative Agent shall have received  notice  from  such  Lender  prior  to  the  proposed  Amendment  and  Restatement  Effective  Date  specifying its objection thereto.         3.2   Conditions to Each Credit Extension.               (a)   Conditions  Precedent.   Subject  to  Section  1.11,  the  obligation of  each   Lender to make any Loan on any Credit Date or any Issuing Bank to issue any Letter of Credit   on any Credit Date, including the Amendment and Restatement Effective Date, are subject to the   satisfaction, or waiver in accordance with Section 10.5, of the following conditions precedent:                      (i)   Administrative  Agent  shall  have  received  a  fully  executed  and         delivered Funding Notice or Issuance Notice, as the case may be;                      (ii)  after making the Credit Extensions requested on such Credit Date,         the  Total  Utilization  of  Revolving  Commitments  shall  not  exceed  the  Revolving         Commitments then in effect;                      (iii) as  of  such  Credit  Date,  the  representations  and  warranties         contained  herein  and  in  the  other  Credit  Documents  shall  be  true  and  correct  in  all         material respects on and as of that Credit Date to the same extent as though made on and         as of that date, except to the extent such representations and warranties specifically relate         to an earlier date, in which case such representations and warranties shall have been true         and correct in all material respects on and as of such earlier date;                      (iv)  as  of  such  Credit  Date,  no  event  shall  have  occurred  and  be         continuing  or  would  result  from  the  consummation  of  the  applicable  Credit  Extension         that would constitute an Event of Default or a Default;                       (v)   on  or  before  the  date  of  issuance  of  any  Letter  of  Credit,         Administrative Agent shall have received all other information required by the applicable                                        -122-                                             105376510     

 

           Issuance  Notice,  and  such  other  documents  or  information  as  the  Issuing  Bank  may         reasonably require in connection with the issuance of such Letter of Credit; and                      (vi)  in the case of any Credit Extension denominated in an Alternative         Currency, there shall not have occurred any change in national or international financial,         political  or  economic  conditions  or  currency  exchange  rates  or exchange  controls  that         would  make  it  impractical  for  such  Credit  Extension  to  be  made in  such  Alternative         Currency.                 (b)   Notices.   Any  Notice  shall  be  executed  by  an  Authorized  Officer in a   writing delivered to Administrative Agent.  In lieu of delivering a Notice, Company may give   Administrative  Agent  telephonic notice  by  the  required  time  of any  proposed  borrowing,   conversion/continuation or issuance of a Letter of Credit, as the case may be; provided each such   notice  shall  be  promptly  confirmed  in  writing  by  delivery  of  the  applicable  Notice  to   Administrative Agent on or before the applicable date of borrowing, continuation/conversion or   issuance.  Neither Administrative Agent nor any Lender shall incur any liability to Company in   acting upon any telephonic notice referred to above that Administrative Agent believes in good   faith  to  have  been  given  by  a  duly  authorized  officer  or  other person authorized  on  behalf  of   Company or for otherwise acting in good faith.    SECTION 4.  REPRESENTATIONS AND WARRANTIES          In order to induce Lenders and Issuing Banks to enter into this Agreement and to make   each Credit Extension to be made thereby, Company represents and warrants to each Lender and   each Issuing Bank, on the Amendment and Restatement Effective Date and on each Credit Date,   that the following statements are true and correct:         4.1    Organization;  Requisite  Power  and  Authority;  Qualification.  Each of  Holding, Company and its Restricted Subsidiaries (a) is duly organized, validly existing and in  good  standing  under  the  laws  of  its  jurisdiction  of  organization  as  identified  in  Schedule 4.1,   (b) has all requisite power and authority to own and operate its properties, to carry on its business   as now conducted and as proposed to be conducted, to enter into the Credit Documents, if any, to   which it is a party and to carry out the transactions contemplated thereby, and (c) is qualified to   do business and in good standing in every jurisdiction where its assets are located and wherever   necessary to carry out its business and operations, except in jurisdictions where the failure to be   so qualified or in good standing has not had, and could not be reasonably expected to have, a  Material Adverse Effect.         4.2   Subsidiaries;  Capital  Stock  and  Ownership.   The  Subsidiaries  listed  on  Schedule 4.2  constitute  all  the  Subsidiaries  of  Company  at  the Amendment  and  Restatement   Effective Date.  Schedule 4.2 sets forth as of the Amendment and Restatement Effective Date the   name  and  jurisdiction  of  incorporation  of  each  Subsidiary  and,  as  to  each  Subsidiary,  the   percentage of each class of Capital Stock owned by each Credit Party.  The Capital Stock of each   of Company and its Subsidiaries the shares of which are pledged under the Pledge and Security   Agreement  has  been  duly  authorized  and  validly  issued  and  is  fully  paid  and  non-assessable.    Except as set forth on Schedule 4.2, as of the Amendment and Restatement Effective Date, there   is no existing option, warrant, call, right, commitment or other agreement to which, Company or                                       -123-                                             105376510     

 

     any  of  its  Restricted  Subsidiaries  is  a  party  requiring,  and  there  is  no  membership  interest  or   other Capital Stock of Company or any of its Restricted Subsidiaries outstanding which upon   conversion  or  exchange  would  require,  the  issuance  by  Company  or  any  of  its  Restricted   Subsidiaries of any additional membership interests or other Capital Stock of Company or any of   its Restricted Subsidiaries or other Securities convertible into, exchangeable for or evidencing   the right to subscribe for or purchase, a membership interest or other Capital Stock of Company   or any of its Restricted Subsidiaries.  Schedule 4.2 correctly sets forth the ownership interest of   Holding, Company and each of its Restricted Subsidiaries in their respective Subsidiaries as of   the Amendment and Restatement Effective Date.  Each Domestic Subsidiary of Company which   is not identified on Schedule 1.1(b)-1, Schedule 1.1(b)-2 or Schedule 4.22 is a Guarantor as of   the Amendment and Restatement Effective Date.          4.3   Due  Authorization.   The  execution,  delivery  and  performance  of  the  Credit   Documents have been duly authorized by all necessary action on the part of each Credit Party   that is a party thereto.          4.4   No  Conflict.  The execution, delivery and performance by Credit Parties of the   Credit  Documents  to  which  they  are  parties  and  the  consummation  of  the  transactions   contemplated by the Credit Documents do not and will not (a) violate any provision of any law   or any governmental rule or regulation applicable to Holding, Company or any of its Restricted   Subsidiaries, any of the Organizational Documents of Holding, Company or any of its Restricted   Subsidiaries,  or  any  order,  judgment  or  decree  of  any  court  or  other  agency  of  government   binding on Holding, Company or any of its Restricted Subsidiaries; (b) conflict with, result in a  breach of or constitute (with due notice or lapse of time or both) a default under any Contractual  Obligation of Holding, Company or any of its Restricted Subsidiaries; (c) result in or require the  creation or imposition of any Lien upon any of the properties or assets of Holding, Company or  any  of  its  Restricted  Subsidiaries  (other  than  any  Liens  created  under  any  of  the  Credit  Documents  in  favor  of  Collateral  Agent,  on  behalf  of  Secured  Parties);  or  (d) require  any   approval of stockholders, members or partners or any approval or material consent of any Person  under  any  material  Contractual  Obligation  of  Holding,  Company  or  any  of  its  Restricted  Subsidiaries,  except  for  such  approvals  or  consents  which  will be  obtained  on  or  before  the  Amendment and Restatement Effective Date and disclosed to Administrative Agent, except in  each case, (other than with respect to Organizational Documents of Holding and Company) non- compliance which, individually or in the aggregate, could not reasonably be expected to have a  Material Adverse Effect.         4.5   Governmental  Consents.   Each  of  Holding,  Company  and  its  Restricted  Subsidiaries  is  in  compliance  with  (a) and  has  obtained  each  Governmental  Authorization  applicable to it in respect of this Agreement and the other Credit Documents, the conduct of its  business and the ownership of its  property,  each  of  which  (i) is  in  full  force  and  effect,  (ii) is  sufficient  for  its  purpose  without  any  material  restraint  or  adverse  condition  and  (iii) is  not  subject to any waiting period, further action on the part of any Governmental Authority or other  Person,  or  stay  or  injunction,  (b) all  applicable  laws  relating  to  its  business  and  (c) each  indenture,  agreement  or  other  instrument  to  which  it  is  a  party or by which it or any of its  property is or may be bound that is material to the conduct of its business, except in each such  case for noncompliances which, and Governmental Authorizations the failure to possess which,                                        -124-                                             105376510     

 

     individually or in the aggregate, could not reasonably be expected to have a Material Adverse   Effect.          4.6   Binding  Obligation.   Each  Credit  Document  has  been  duly  executed  and   delivered  by  each  Credit  Party  that  is  a  party  thereto  and  is  the  legally  valid  and  binding   obligation  of  such  Credit  Party,  enforceable  against  such  Credit  Party  in  accordance  with  its   respective  terms,  except  as  may  be  limited  by  bankruptcy,  insolvency,  reorganization,   moratorium  or  similar  laws  relating  to  or  limiting  creditors’  rights  generally  or  by  equitable   principles (whether enforcement is sought in equity or at law).          4.7   Historical Financial  Statements.  The Historical Financial Statements were, at   the time prepared, prepared in conformity with GAAP and fairly present, in all material respects,   the  financial  position,  on  a  consolidated  basis,  of  the  Persons  described  in  such  financial   statements as at the respective dates thereof and the results of operations and cash flows, on a  consolidated basis, of the entities described therein for each of the periods then ended, subject, in  the case of any such unaudited financial statements, to changes resulting from audit and normal  year-end adjustments and the absence of footnotes.            4.8   No  Material  Adverse  Change.   Since  December  31,  2017,  no  event,  circumstance or change has occurred that has caused a Material Adverse Effect.         4.9   Adverse Proceedings, etc.  There are no Adverse Proceedings, individually or in  the  aggregate,  that  could  reasonably  be  expected  to  have  a  Material  Adverse  Effect.   Neither  Company  nor  any  of  its  Restricted  Subsidiaries  (a) is  in  violation  of  any  applicable  laws  (including  Environmental  Laws)  that,  individually  or  in  the  aggregate,  could  reasonably  be  expected to have a Material Adverse Effect, or (b) is subject to or in default with respect to any  final judgments, writs, injunctions, decrees, rules or regulations of any court or any federal, state,  municipal  or  other  governmental  department,  commission,  board,  bureau,  agency  or  instrumentality, domestic or foreign, that, individually or in the aggregate, could reasonably be  expected to have a Material Adverse Effect.         4.10  Payment of Taxes.         Except as otherwise permitted under Section 5.3 and except as could not reasonably be   expected  to  have  a  Material  Adverse  Effect,  all  tax  returns  and  reports  of  Holding  and  its   Restricted  Subsidiaries  required to  be  filed  by  any  of  them  have  been  timely  filed,  and  all   material taxes shown on such tax returns to be due and payable and all material assessments, fees   and  other  governmental  charges  upon  Holding  and  its  Restricted Subsidiaries  and  upon  their   respective properties, assets, income, businesses and franchises which are due and payable have   been paid when due and payable.  Holding knows of no tax assessment that could reasonably be   expected to have a Material Adverse Effect that has been proposed in writing against Holding or   any of its Restricted Subsidiaries as of the Amendment and Restatement Effective Date which is   not  being  actively  contested  by  Holding  or  such  Subsidiary  in  good  faith  and  by  appropriate   proceedings; provided, such reserves or other appropriate provisions, if any, as shall be required   in conformity with GAAP shall have been made or provided therefor.          4.11  Properties.                                         -125-                                             105376510     

 

               (a)   Title.  Each of Company and its Restricted Subsidiaries has (i) good and  valid title to (in the case of fee interests in real property), (ii) valid leasehold interests in (in the  case  of  leased  personal  property),  and  (iii) good  title  to  or  rights  in  (in  the  case  of  all  other  personal  property),  all  properties  that  are  necessary  for  the  operation  of  their  respective  businesses as currently conducted and as proposed to be conducted, free and clear of all Liens  (other than any Liens permitted by this Agreement) and except where the failure to have such  good title or interest could not reasonably be expected, individually or in the aggregate, to have a  Material Adverse Effect.               (b)   Real Estate.  As of the Amendment and Restatement Effective Date and  exclusive of the facility located in Bristol, Connecticut, the only fee-owned Real Estate Assets  having  a  fair  market  value  in  excess  of  $25,000,000  as  of  the  date  of  the  acquisition  thereof  owned  by  any  Guarantor  are  the  ones  listed  on  Schedule  4.11(b) (the  “Restatement  Date  Material Real Estate Assets”).         4.12  Environmental Matters.  Neither Company nor any of its Restricted Subsidiaries  nor any of their respective Facilities or operations are subject to any outstanding written order,  consent decree or settlement agreement with any Person relating to any Environmental Law, any  Environmental  Claim,  or  any  Release  or  threatened  Release  of  Hazardous  Materials  that,  individually or in the aggregate, could reasonably be expected to have a Material Adverse Effect.   Neither  Company  nor  any  of  its  Restricted  Subsidiaries  has  received  any  letter  or  request  for  information under Section 104 of the Comprehensive Environmental Response, Compensation,  and Liability Act (42 U.S.C. § 9604) or any comparable state law, except, with respect to matters  that  either  have  been  fully  resolved  or  matters  that  individually  or  in  the  aggregate  could  not  reasonably  be  expected  to  have  a  Material  Adverse  Effect.   To  Company’s  and  its  Restricted  Subsidiaries’  knowledge,  there  are  no  conditions  or  occurrences,  including  any  Release,  threatened  Release,  use,  generation,  storage,  treatment,  transportation,  processing,  disposal,  removal or remediation of Hazardous Materials, which could reasonably be expected to form the  basis  of  an  Environmental  Claim against  Company  or  any  of  its  Restricted  Subsidiaries  that,  individually or in the aggregate, could reasonably be expected to have a Material Adverse Effect.   Neither Holding nor any Restricted Subsidiary has been issued or required to obtain a permit for  the treatment, storage or disposal of hazardous waste for any of its currently owned or operated  Facilities, pursuant to the federal Resource Conservation and Recovery Act, 42 U.S.C. § 6901,  et.  seq.  and  its  implementing  regulations (“RCRA”),  or  any  equivalent  State  law,  nor  are  any  such  Facilities  regulated  as  “interim  status”  facilities  required  to  undergo  corrective  action  pursuant to RCRA, except in either case to the extent that such Facilities’ obligations pursuant to  RCRA,  individually  or in  the  aggregate,  could not  reasonably  be expected to have a Material  Adverse  Effect.   Compliance  with  all  current  requirements  of  Environmental  Law  or,  to  Company’s  and  its  Restricted  Subsidiaries’  knowledge  reasonably  likely  future  requirements  arising  from  (i)  existing  environmental  regulations  or  (ii)  environmental  regulations  that  have  been formally proposed but have not been finalized could not reasonably be expected to have,  individually or in the aggregate, a Material Adverse Effect.         4.13  No Defaults.  Neither Company nor any of its Restricted Subsidiaries is in default  in the performance, observance or fulfillment of any of the obligations, covenants or conditions  contained in any of its Contractual Obligations, and no condition exists which, with the giving of  notice  or  the  lapse  of  time  or  both,  could  constitute  such  a  default,  except  where  the                                      -126-                                           105376510    

 

   consequences,  direct  or  indirect,  of  such  default  or  defaults, if  any,  could  not  reasonably  be  expected to have a Material Adverse Effect.         4.14  Governmental  Regulation.   Neither  Company  nor  any  of  its  Restricted  Subsidiaries is subject to regulation under the Federal Power Act or the Investment Company  Act of 1940 or under any other federal or state statute or regulation which may limit its ability to  incur  Indebtedness  or  which  may  otherwise  render  all  or  any  portion  of  the  Obligations  unenforceable.   Neither  Company  nor  any  of  its  Subsidiaries  is a  “registered  investment  company” or a company “controlled” by a “registered investment company” as such terms are  defined in the Investment Company Act of 1940.         4.15  Margin  Stock.   Neither  Company  nor  any  of  its  Restricted  Subsidiaries  is  engaged principally, or as one of its important activities, in the business of extending credit for  the purpose of purchasing or carrying any Margin Stock.  No part of the proceeds of the Loans  made to such Credit Party will be used to purchase or carry any such Margin Stock or to extend  credit  to  others  for  the  purpose of  purchasing  or  carrying  any such  Margin  Stock  or  for  any  purpose that violates, or is inconsistent with, the provisions of Regulation U or X of said Board  of Governors.         4.16  Employee Matters.  Neither Company nor any of its Subsidiaries is engaged in  any unfair labor practice that could reasonably be expected to have a Material Adverse Effect.   Except as could not reasonably be expected, either individually or in the aggregate, to have a  Material Adverse Effect, there is (a) no unfair labor practice complaint pending against Company  or any of its Subsidiaries, or to the best knowledge of Company, threatened against any of them  before the National Labor Relations Board and no grievance or arbitration proceeding arising out  of or under any collective bargaining agreement that is so pending against Company or any of its  Subsidiaries or to the best knowledge of Company, threatened against any of them, (b) no strike,  slowdown,  labor  dispute,  lockout,  work  stoppage  or  other  work  disruption  is  in  existence  or  threatened involving Company or any of its Subsidiaries, (c) to the best knowledge of Company,  no union representation question existing with respect to the employees of Company or any of its  Subsidiaries and, to the best knowledge of Company, no union organization activity that is taking  place, (d) no action, complaint, charge, inquiry, proceeding or investigation by or on behalf of  any  employee,  prospective  employee,  former  employee,  labor  organization  or  other  representative  of  the  employees  of  Company  or  any  of  its  Subsidiaries  is  pending  or,  to  the  knowledge of Company, threatened, (e) neither Company nor any of its Subsidiaries is a party to,  or otherwise bound by, any consent decree with, or citation by, any government agency relating  to  employees  or  employment  practices  and  (f)  Company  and  its  Subsidiaries  are  in  material  compliance with all applicable laws, agreements, contracts, policies, plans, and programs relating  to employment, employment practices, compensation, benefits, hours, terms and conditions of  employment, and the termination of employment, including but not limited to any obligations  pursuant  to  the  Worker  Adjustment  and  Retraining  Notification  Act  of  1988,  the  payment  of  wages to employees in accordance with the Fair Labor Standards Act and similar laws and rules,  and  the  appropriate  classification  of  persons  as  employees  or  contractors  in  accordance  with  applicable law.         4.17  Employee Benefit Plans.                                        -127-                                           105376510    

 

                 (a)   Except  as  could  not  reasonably  be  expected,  individually  or  in the   aggregate, to have a Material Adverse Effect, (i) Company and each of its Subsidiaries (and in   the case of a Pension Plan or a Multiemployer Plan, each of their respective ERISA Affiliates)   are in compliance with all provisions and requirements of ERISA and the Internal Revenue Code   and  other  applicable  federal  and state  laws  and  the  regulations  and  published  interpretations   thereunder, applicable to such entities, with respect to each Employee Benefit Plan and Pension   Plan and have performed all their obligations under each Employee Benefit Plan and Pension   Plan, (ii) each Employee Benefit Plan which is intended to qualify under Section 401(a) of the   Internal Revenue Code has received a favorable determination letter from the Internal Revenue   Service indicating that such Employee Benefit Plan is so qualified (or is a prototype plan whose   sponsor  has  received  such  a  letter)  and  the  trust  related  thereto  has  been  determined  by  the   Internal  Revenue  Service  to  be  exempt  from  federal  income  tax  under  Section 501(a)  of  the   Internal Revenue Code or an application for such a letter is currently pending before the Internal   Revenue  Service  and,  to  the  knowledge  of  Company,  nothing  has  occurred  subsequent  to  the   issuance of the determination letter which would cause such Employee Benefit Plan or Pension   Plan  to  lose  its  qualified  status,  (iii) no  liability  to  the  PBGC  (other  than  required  premium   payments), the Internal Revenue Service, any Employee Benefit Plan and Pension Plan or any   trust established under Title IV of ERISA has been or is expected to be incurred by Company,  any of its Subsidiaries or any of their ERISA Affiliates, (iv) no ERISA Event has occurred and  neither Company nor any ERISA Affiliate is aware of any fact, event or circumstance that could  reasonably  be  expected  to  constitute  or  result  in  an  ERISA  Event,  and  each  of  their  ERISA  Affiliates have complied with the requirements of Section 515 of ERISA with respect to each  Multiemployer Plan and are not in “default” (as defined in Section 4219(c)(5) of ERISA) with  respect  to  payments  to  a  Multiemployer  Plan,  (v) the  present  value  of  the  aggregate  benefit  liabilities under each Pension Plan sponsored, maintained or contributed to by Holding, any of its  Subsidiaries or any of their ERISA Affiliates, (determined as of the end of the most recent plan  year on the basis of the actuarial assumptions specified for funding purposes in the most recent   actuarial  valuation  for  such  Pension  Plan),  did  not  exceed  the aggregate  current  value  of  the   assets  of  such  Pension  Plan,  (vi) as  of  the  most  recent  valuation  date  for  each  Multiemployer   Plan  for  which  the  actuarial  report  is  available,  none  of  Holding,  its  Subsidiaries  or  their   respective  ERISA  Affiliates  has  any  potential  liability  for  a  complete  withdrawal  from  such   Multiemployer Plan (within the meaning of Section 4203 of ERISA), when aggregated with such   potential liability for a complete withdrawal from all Multiemployer Plans, based on information  available pursuant to Section 4221(e) of ERISA.               (b)   There  has  been  no  prohibited  transaction  or  violation  of  the  fiduciary  responsibility  rules  with  respect  to  any  Employee  Benefit  Plan that  has  resulted  or  could  reasonably be expected to result in a Material Adverse Effect.                (c)   On and as of the Amendment and Restatement Effective Date, Company is  not  and  will  not  be  (a)  an  employee  benefit  plan  subject  to  Title I of ERISA, (b) a plan or  account subject to Section 4975 of the Code; (c) an entity deemed to hold “plan assets” of any  such plans or accounts for purposes of ERISA or the Code; or (d) a “governmental plan” within  the meaning of ERISA         4.18  Solvency.  The Credit Parties and their Subsidiaries on a consolidated basis, are   Solvent on the Amendment and Restatement Effective Date.                                       -128-                                             105376510     

 

           4.19  Disclosure.  No document, certificate or written factual information (other than   projections, financial estimates, forecasts and forward-looking information and information of a   general economic or industry-specific nature) furnished to Lenders by or on behalf of any Credit   Party for use in connection with the transactions contemplated hereby contains, when taken as a   whole, any untrue statement of a  material fact or omits to state a material fact (known to the   Credit Parties, in the case of any document not furnished by either of them) necessary in order to   make  the  statements  contained  herein  or  therein  not  materially misleading  in  light  of  the   circumstances  in  which  the  same  were  made.   Any  projections  and pro forma financial   information  contained  in  such  materials (including  the  Projections)  are based  upon good  faith   estimates and assumptions believed by the Credit Parties to be reasonable at the time made, it   being recognized by Lenders that such projections as to future events are not to be viewed as   facts and that actual results during the period or periods covered by any such projections may   differ from the projected results and that such differences may be material.           4.20  Patriot Act.  To the extent applicable, each Credit Party is in compliance, in all  material  respects,  with  the  USA  PATRIOT  Act  (Title  III  of  Pub.  L.  107-56  (signed  into  law  October 26, 2001)) (the “Act”).         4.21  Unrestricted Subsidiaries.  All Unrestricted Subsidiaries designated as such on  the Amendment and Restatement Effective Date are identified on Schedule 4.21.          4.22  OFAC.   Neither  Holding,  Company,  nor  any  of  its  Subsidiaries,  nor, to  the  knowledge  of  Holding,  Company  and its  Subsidiaries,  any  director,  officer,  employee,  agent,   Affiliate or representative thereof is a Sanctioned Person.          4.23  Anti-Corruption Laws.  Holding, Company and its Restricted Subsidiaries have   conducted their businesses in compliance in all material respects with applicable anti-corruption   laws and Anti-Money Laundering Laws, including the United States Foreign Corrupt Practices   Act of 1977, the UK Bribery Act 2010, and other similar applicable anti-corruption legislation   and  have  instituted  and  maintain  policies  and  procedures  designed  to  promote  and  achieve   compliance with such laws.          4.24  EEA Financial Institution.  No Credit Party is an EEA Financial Institution.          4.25  Beneficial  Ownership  Certification.   As  of  the  Amendment  and  Restatement   Effective  Date, the information  included  in the Beneficial Ownership Certification  is true  and   correct in all respects.         SECTION 5.  AFFIRMATIVE COVENANTS          Each  of  Company  and  each  Guarantor  Subsidiary  covenants  and  agrees  that  until  the   Termination  Date  each  of  Company  and  each  Guarantor  Subsidiary shall  perform,  and  shall   cause each of its Restricted Subsidiaries to perform, all covenants in this Section.          5.1   Financial  Statements  and  Other  Reports.   Company  will  deliver  to   Administrative Agent and Lenders (which delivery to Lenders may be satisfied by the posting of                                       -129-                                             105376510     

 

   relevant  documents  to  Intralinks  or  other  similar  service  reasonably  satisfactory  to  Administrative Agent):               (a)   Quarterly  Financial  Statements.   As  soon  as  available,  and  in  any  event  within  forty-five  (45) days  after  the  end  of  each  of  the  first three  (3)  Fiscal  Quarters  of  each  Fiscal  Year  (commencing  in  respect  of  the  third  Fiscal  Quarter of 2018),  the  unaudited  consolidated  balance  sheets  of  Company  and  its  Restricted  Subsidiaries  as  at  the  end  of  such  Fiscal Quarter and the related unaudited consolidated statements of income and cash flows of  Company  and  its  Restricted  Subsidiaries  for  such  Fiscal  Quarter  and  for  the  period  from  the  beginning of the then current Fiscal Year to the end of such Fiscal Quarter, (in each case, without  footnotes)  setting  forth  in  each  case,  in  comparative  form  the corresponding  figures  for  the  corresponding periods of the previous Fiscal Year all in reasonable detail, together with a copy  of Holding’s Form 10-Q for such period;               (b)   Annual  Financial  Statements.   As  soon  as  available,  and  in  any event  within  one  hundred  twenty  (120) days  after  the  end  of  each  Fiscal  Year,  (i) the  unaudited  consolidated  balance  sheets  of  Company  and  its  Restricted  Subsidiaries  as  at  the  end  of  such  Fiscal Year and the related consolidated statements of income and cash flows of Company and  its Restricted Subsidiaries for such Fiscal Year, setting forth in each case, in comparative form  the  corresponding  figures  for  the  previous  Fiscal  Year  in  reasonable  detail;  and  (ii) a  copy  of  Holding’s Form 10-K for such Fiscal Year, which shall include the audited consolidated balance  sheets of Holding as at the end of such Fiscal Year and the related consolidated statements of  income  and  cash  flows  of  Holding  for  such  Fiscal  Year,  setting forth  in  each  case,  the  corresponding figures for the previous Fiscal Year in reasonable detail, and a report thereon of  Ernst  &  Young  LLP  or  other  independent  certified  public  accountants  of  recognized  national  standing selected by Company or Holding, and reasonably satisfactory to Administrative Agent  (which report shall be unqualified as to going concern and scope of audit);                (c)   Compliance Certificate and Other Information.                       (i)   Together with each delivery of financial statements of Holding or       Company  pursuant  to  Sections 5.1(a)  and 5.1(b),  a  duly  executed  and  completed        Compliance Certificate;                     (ii)  Together  with  the  delivery  of  each  Compliance  Certificate        pursuant to clause (i) above, a list of each Subsidiary that identifies such Subsidiary as a        Restricted  Subsidiary  or  an  Unrestricted  Subsidiary  as  of  the  date  of  delivery  of  such        Compliance Certificate to the extent such Subsidiary has not previously been identified to        the Administrative Agent;               (d)   Statements of Reconciliation after Change in Accounting Principles. If, as  a result of any change in accounting principles and policies from those used in the preparation of  the Historical Financial Statements, the consolidated financial statements of Holding delivered  pursuant  to  Section  5.1(a)  or  5.1(b)  will  differ  in  any  material  respect  from  the  consolidated  financial statements that would have been delivered pursuant to such subdivisions had no such  change  in  accounting  principles  and  policies  been  made,  then,  to  the  extent  requested  by  the                                       -130-                                           105376510    

 

     Administrative  Agent,  one  or  more  statements  of  reconciliation for  all  such  prior  financial   statements in form and substance satisfactory to Administrative Agent.                 (e)   Notice  of  Default.   Promptly  upon  any  Authorized  Officer  of  Company   obtaining  knowledge  (i) of  any  condition  or  event  that  constitutes  a  Default  or  an  Event  of   Default or that notice has been given to Company with respect thereto; (ii) that any Person has   given any notice to Company or any of its Restricted Subsidiaries or taken any other action with   respect  to  any  event  or  condition  set  forth  in  Section 8.1(b); or  (iii) of  the  occurrence  of  any   event or change that has caused or evidences, either in any case or in the aggregate, a Material  Adverse  Effect,  a  certificate  of  its  Authorized  Officer  specifying  the  nature  and  period  of  existence of such condition, event or change, or specifying the notice given and action taken by  any  such  Person  and  the  nature  of  such  claimed  Event  of  Default,  Default,  default,  event  or  condition,  and  what  action  Company  has  taken,  is  taking  and  proposes  to  take  with  respect  thereto;               (f)   Notice of Litigation.  Promptly upon any Authorized Officer of Company   obtaining  knowledge  of  the  institution  of  any  Adverse  Proceeding  that  could  be  reasonably   expected to have a Material Adverse Effect or any material adverse development in any Adverse   Proceeding that could be reasonably expected to have a Material Adverse Effect, written notice   thereof together with such other non-privileged information as may be reasonably available to   Company to enable Lenders and their counsel to evaluate such matters;                (g)   ERISA.   (i)  Promptly  upon  becoming  aware  of  the  occurrence  of  or   forthcoming occurrence of any ERISA Event, a written notice specifying the nature thereof, what   action Company, any of its Subsidiaries or any of their respective ERISA Affiliates has taken, is   taking or proposes to take with respect thereto and, when known, any action taken or threatened   by the Internal Revenue Service, the Department of Labor or the PBGC with respect thereto, and   (ii)  with  reasonable  promptness,  upon  Administrative  Agent’s  request,  copies  of  (1)  each   Schedule B (Actuarial Information) to the annual report (Form 5500 Series) filed by Company,   any  of  its  Subsidiaries  or  any  of  their  respective  ERISA  Affiliates  with  the  Internal  Revenue   Service  with  respect  to  each  Pension  Plan;  (2)  all  notices  received  by  Company,  any  of  its   Subsidiaries  or  any  of  their  respective  ERISA  Affiliates  from  a  Multiemployer  Plan  sponsor   concerning an ERISA Event; and (3) such other documents or governmental reports or filings   relating to any Employee Benefit Plan or Pension Plan as Administrative Agent shall reasonably   request;                (h)   Financial Plan.  As soon as practicable and in any event no later than one-  hundred  and  twenty  (120)  days  after  the  end  of  each  Fiscal  Year  after  the  Amendment  and   Restatement  Effective  Date,  the  following  projections  (the  “Financial  Plan”)  consisting  of  a   forecasted consolidated balance sheet and forecasted consolidated statements of income and cash   flows of Company and its Restricted Subsidiaries for the then current Fiscal Year, together with   an explanation of the assumptions on which such forecasts are based, which information shall be   accompanied  by  a  certificate  from  the  chief  financial  officer  of  Company  certifying  that  the   projections contained therein are based upon good faith estimates and assumptions believed by   Company to be reasonable at the time made;                                         -131-                                             105376510     

 

               (i)   Other  Information.   Promptly  upon  request,  such  other  non-privileged  information  regarding  the  operations,  business  affairs  and  financial  condition  of  Holding,  Company  or  any  Restricted  Subsidiary  of  Company  or  for  compliance with the terms of any  Credit Document, as from time to time may be reasonably requested by Administrative Agent  (on behalf of any Lender);                (j)   PATRIOT  Act,  Etc.   Promptly  upon  the  request  thereof,  such  other  information and documentation required by bank regulatory authorities under applicable “know  your customer” and anti-money laundering rules and regulations (including, without limitation,  the PATRIOT Act and the Beneficial Ownership Regulation), as from time to time requested by  the Administrative Agent or any Lender; and               (k)   Certification of Public Information.  Company hereby acknowledges that  (a) Administrative Agent and its Affiliates may, but shall not be obligated to (except to the extent  expressly  provided  in  this  Agreement  and  the  other  Credit  Documents  and  subject  to  the  confidentiality  provisions  of  the  Credit  Documents)  make  available  to  the  Lenders  and  the  Issuing  Banks  materials  and/or  information  provided  by  or  on  behalf  of  Company  hereunder  (collectively, “Company  Materials”) by posting Company Materials on IntraLinks, Syndtrak,  ClearPar,  or  a  substantially  similar  electronic  transmission  system  (the  “Platform”)  and  (b) certain of the Lenders (each, a “Public  Lender”) may have personnel who do not wish to  receive material non-public information (within the meaning of the United States federal or state  securities laws) with respect to Holding, Company or their respective Affiliates, or the respective  securities  of  any  of  the  foregoing,  and  who  may  be  engaged  in  investment  and  other  market- related activities with respect to such Persons’ securities.  Company hereby agrees that so long as  Company or Holding is the issuer of any outstanding debt or equity securities that are registered  or issued pursuant to a private offering or is actively contemplating issuing any such securities,  (w) all Company Materials that are to be made available to Public Lenders shall be clearly and  conspicuously marked “PUBLIC” which, at a minimum, shall mean that the word “PUBLIC”  shall  appear  prominently  on  the  first  page  thereof;  (x) by  marking  Company  Materials  “PUBLIC,”  Company  shall  be  deemed  to  have  authorized  Administrative  Agent  and  its  Affiliates, the Issuing Banks and the Lenders to treat such Company Materials as not containing  any material non-public information with respect to Company or its securities for purposes of  United States federal and state securities laws; (y) all Company Materials marked “PUBLIC” are  permitted  to  be  made  available  through  a  portion  of  the  Platform  designated  “Public  Side  Information;”  and  (z) Administrative  Agent  and  its  Affiliates  shall  be  entitled  to  treat  any  Company  Materials  that  are  not  marked  “PUBLIC”  as  being  suitable  only  for  posting  on  a  portion of the Platform not designated “Public Side Information.”         Notwithstanding anything to the contrary in this Section 5.1, (i) none of Company or any  of its Restricted Subsidiaries will be required to make any disclosure to Administrative Agent,  Issuing  Banks  or  any  Lender  that  (a) is  prohibited  by  law  or  any  bona  fide  confidentiality  agreement in favor of a Person (other than Company or any of its Subsidiaries or Affiliates) (the  prohibition contained in which was not entered into in contemplation of this provision), (b) is  subject to attorney-client or similar privilege or constitutes attorney work product or (c) in the  case of Section 5.1(i)(b) only, creates an unreasonably excessive expense or burden on Company  or  any  of  its  Restricted  Subsidiaries  to  produce  or  otherwise  disclose  and  (ii)  filing  with  the  Securities and Exchange Commission the financial statements of Holding required by Sections                                      -132-                                           105376510    

 

     5.1(a) and (b) and the other information required by Section 5.1(i)(a) shall satisfy the delivery   requirements of Sections 5.1(a), (b) and (i).          5.2   Existence.   Except  as  otherwise  permitted  under  Section 6.8,  each  of  Holding,   Company  and  its  Restricted  Subsidiaries  will  at  all  times  preserve  and  keep  in  full  force  and   effect its existence and all rights and franchises, licenses and permits material to its business;   provided, neither Company nor any Subsidiary of Company shall be required to preserve (a) any   such  existence  of  any  Subsidiary  of  Company  if  such  Person’s  board  of  directors  (or  similar  governing  body)  shall  determine  that  the  preservation  thereof  is  no  longer  desirable  in  the  conduct of the business of such Person and that the loss thereof is not disadvantageous in any  material  respect  to  such  Person  or  to  Lenders  or  (b) any  such  rights,  franchises,  licenses  or  permits except to the extent that failure to do so could reasonably be expected to have a Material  Adverse Effect, individually or in the aggregate.         5.3   Payment of Taxes and Claims .  Each Credit Party will, and will cause each of  its Restricted Subsidiaries to pay all income and other material Taxes imposed upon it or any of  its properties or assets or in respect of any of its income, businesses or franchises before any  penalty or fine accrues thereon, and all claims (including claims for labor, services, materials and  supplies)  for  material  sums  that  have  become  due  and  payable  and  that  by  law  have  or  may  become a Lien (other than a Permitted Lien) upon any of its properties or assets, prior to the time  when any penalty or fine shall be incurred with respect thereto except, in each case, where such  Tax or claim is being contested in good faith by appropriate proceedings promptly instituted and  diligently  conducted,  so  long  as  adequate  reserve  or  other  appropriate  provision,  as  shall  be  required in conformity with GAAP, shall have been made therefor, or where the failure to make  such payment could not reasonably be expected to have a Material Adverse Effect.  No Credit  Party will, nor will it permit any of its Restricted Subsidiaries to, file or consent to the filing of  any consolidated income tax return with any Person (other than Holding, Company or any of its  Restricted Subsidiaries).         5.4   Maintenance  of  Properties  and  Assets.  Each of Company and its Restricted  Subsidiaries will, and will cause each of their Restricted Subsidiaries to maintain or cause to be  maintained  in  good  repair,  working  order  and  condition,  ordinary  wear  and  tear  excepted,  all  tangible  material  properties  used  or  useful  in  the  business  of Company  and  its  Restricted  Subsidiaries  and  from  time  to  time  will  make  or  cause  to  be  made  all  appropriate  repairs,  renewals  and  replacements  thereof  except  that  Company  and  its  Subsidiaries  shall  not  be  required to perform the foregoing obligations (i) with respect to Subsidiaries or assets to which  Persons  other  than  Company  and  its  Restricted  Subsidiaries  have  recourse  under  Limited  Recourse Debt owed to such Persons where the amount of such Limited Recourse Debt exceeds  the  fair  market  value  of  such  property  and  (ii) to  the  extent  that  failure  to  perform  such  obligations, individually or in the aggregate, could not reasonably be expected to have a Material  Adverse Effect.  Each of Company and its Restricted Subsidiaries will preserve or renew all of  its  registered  patents,  trademarks,  trade  names,  domain  names  and  service  marks,  the  non- preservation of which could reasonably be expected to have a Material Adverse Effect.         5.5   Insurance.  Company will maintain or cause to be maintained, with financially   sound  and  reputable  insurers  (in  the  good  faith  judgment  of  the  management  of  Company,   determined at the time  the relevant coverage is placed or renewed), public liability insurance,                                       -133-                                             105376510     

 

   third  party  property  damage  insurance,  business  interruption  insurance  and  casualty  insurance  with respect to liabilities, losses or damage in respect of the assets, properties and businesses of  Company  and  its  Restricted  Subsidiaries  in  each  case  in  such  amounts  (giving  effect  to  self-insurance and self-retentions), with such deductibles, covering such risks and otherwise on  such terms and conditions as shall be reasonable and prudent in light of the size and nature of its  business and the availability of insurance on a cost effective basis) and against at least such risks  (and with such risk retentions) as Company believes (in the good faith judgment of management  of Company at the time the relevant coverage is placed or renewed) is reasonable and prudent in  light of the size and nature of its business and the availability of insurance on a cost effective  basis,  except,  in  the  case  of  Projects  owned  by  Foreign  Subsidiaries,  to  the  extent  not  commercially available at a reasonable cost.  Each such policy of insurance (other than business  interruption insurance) shall with respect to Company and each Guarantor Subsidiary (i) in the  case  of  liability insurance  name  Collateral  Agent,  for  the  benefit  of  the Secured  Parties as  an  additional  insured  thereunder  as  its  interests  may  appear,  (ii) in  the  case  of  each  casualty  insurance  policy,  contain  a  customary  lender  loss  payable  clause  or  endorsement,  reasonably  satisfactory  in  form  and  substance  to  Collateral  Agent,  that  names  Collateral  Agent,  for  the  benefit of the Secured Parties as the loss payee thereunder, and (iii) provides that if any of the  described policies are cancelled before the expiration date thereof, notice will be delivered to the  Collateral Agent in accordance with the policy provisions.         5.6   Inspections.   Each  of  Company  and  its  Restricted  Subsidiaries  will,  and  will  cause each of their Restricted Subsidiaries to permit any authorized representatives designated by  (i) Administrative Agent (prior to an Event of Default at Administrative Agent’s expense to the  extent  Administrative  Agent  visits  more  than  once  per  year)  or (ii) any  Lender  coordinated  through  Administrative  Agent  (at  such  Lender’s  expense)  to  visit  and  inspect  any  of  the  properties  of  any  of  Company  or  any  of  its  Restricted  Subsidiaries,  to  inspect,  copy  and  take  extracts from its and their financial and accounting records, and to discuss its and their affairs,  finances and accounts with its and their officers and independent public accountants (provided  that Company may, if it so chooses, be present and participate in any such discussion), in each  case all upon reasonable notice and at such reasonable times during normal business hours and as  often  as  may  reasonably  be  requested  and,  with  respect  to  any  Lender,  provided  that  it  coordinates  its  efforts  with  Administrative  Agent  and  so  long  as  no  Event  of  Default  has  occurred and is continuing, such visit by such Lender shall be limited to once per year.         5.7   Compliance  with  Laws.   Each  Credit  Party  will  comply,  and  shall  use  all  reasonable  efforts  to  cause  each  of  its  Subsidiaries  to  comply, with the requirements of all  applicable  laws,  rules,  regulations  and  orders  of  any  Governmental  Authority  (including  all  Environmental  Laws),  noncompliance  with  which  could  reasonably be  expected  to  have,  individually or in the aggregate, a Material Adverse Effect.         5.8   Environmental.               (a)   Hazardous Materials Activities, Etc.  Each of Company and its Restricted  Subsidiaries shall promptly take, and shall cause each of its Restricted Subsidiaries promptly to  take,  any  and  all  actions  reasonably  necessary  to  (i) cure  any violation  of  applicable  Environmental  Laws  by  Company  or  its  Restricted  Subsidiaries  that  could  reasonably  be  expected to have, individually or in the aggregate, a Material Adverse Effect, and (ii) make an                                      -134-                                           105376510    

 

     appropriate  response  to  any  Environmental  Claim  against  Company or any of its Restricted   Subsidiaries and discharge any obligations it may have to any Person thereunder where failure to   do so could reasonably be expected to have, individually or in the aggregate, a Material Adverse   Effect.                (b)   Environmental Disclosure.  Company will deliver to Administrative Agent   on  behalf  of  each  Lender,  promptly  upon  the  occurrence  thereof,  written  notice  describing  in   reasonable  detail  (1) any  Release  that  individually  could  reasonably  be  expected  to  require  a   Remedial Action or give rise to Environmental Claims, that Company has determined could, in   the  aggregate  with  all  other  Releases,  reasonably  be  expected  to  result  in  a  Material  Adverse   Effect,  (2) any  Remedial  Action taken  by  Company,  its  Restricted  Subsidiaries  or  any  other   Person in response to any Release or threatened Release of Hazardous Materials that Company   has  determined  could,  individually or in the aggregate with all  other  Remedial  Actions,  reasonably  be  expected  to  result  in  a  Material  Adverse  Effect, (3) any  Environmental  Claim  (including  any  request  for  information  by  a  Governmental  Authority)  that  Company  has  determined  could,  individually  or  in  the  aggregate  with  all  other  Environmental  Claims,  reasonably be expected to result in a Material Adverse Effect, (4) Company’s or its Restricted  Subsidiaries’ discovery of any occurrence or condition at any Facility, or on any real property  adjoining  or  in  the  vicinity  of any  Facility,  that  could  reasonably  be  expected  to  cause  such   Facility  or  any  part  thereof  to be  subject  to  any  restrictions on  the  ownership,  occupancy,   transferability  or  use  thereof  under  any  Environmental  Laws  that  Company  has  determined   could, in the aggregate with other such restrictions, reasonably be expected to result in a Material   Adverse Effect, (5) any proposed acquisition of stock, assets, or property by Company or any of   its Restricted Subsidiaries that could reasonably be expected to expose Company or any of its   Restricted Subsidiaries to, or result in, Environmental Claims that could reasonably be expected   to have, individually or in the aggregate, a Material Adverse Effect, and (6) any action taken by   Company  or  any  of  its  Restricted  Subsidiaries  to  modify  current  operations  in  a  manner  that   could reasonably be expected to subject Company or any of its Restricted Subsidiaries to any   additional  obligations  or  requirements  under  Environmental  Laws  that  could  reasonably  be   expected to have, individually or in the aggregate, a Material Adverse Effect.          5.9   Subsidiaries.  In the event that during any Fiscal Quarter any Person becomes a  Domestic  Subsidiary  of  Company  (other  than  a  Development  Subsidiary,  an  Excluded  Subsidiary, an Exempt Subsidiary or an Unrestricted Subsidiary) or any Domestic Subsidiary of  Company  ceases  to  be  a  Development  Subsidiary,  an  Excluded  Subsidiary,  an  Exempt  Subsidiary or an Unrestricted Subsidiary, then Company shall, together with the delivery of the  Compliance Certificate pursuant to Section 5.1(c)(i) for the applicable Fiscal Quarter (or, in the   case of the last Fiscal Quarter of a Fiscal Year, the applicable Fiscal Year) or at any later time as   may  be  agreed  by  Administrative  Agent  (a)  cause  such  Domestic  Subsidiary  to  become  a   Guarantor hereunder and a Grantor under the Pledge and Security Agreement by executing and   delivering to Administrative Agent and Collateral Agent a Counterpart Agreement, and (b) take   all  reasonable  and  customary  actions  and  execute  and  deliver,  or  cause  to  be  executed  and   delivered, all such documents, instruments, agreements, and certificates as are similar to those   described  in  Sections  3.1(b)  and 3.1(e)  (provided  that  in  no  event  shall  any  opinions  of  local   counsel be required) and:                                        -135-                                             105376510     

 

                     (i)   Personal  Property  Collateral.   In  order  to  create  in  favor  of        Collateral Agent, for the benefit of Secured Parties, a valid, perfected  First  Priority        security interest in the personal property Collateral, Collateral Agent shall have received:                          (1)   evidence satisfactory to Collateral Agent of the compliance             by each Guarantor Subsidiary of their obligations under the Pledge and Security             Agreement  and  the  other  Collateral  Documents  (including,  without  limitation,             their obligations to execute and/or deliver UCC financing statements, originals of             securities, instruments and chattel paper);                          (2)   (A) the results of a recent search, by a Person reasonably             satisfactory  to  Collateral  Agent,  of  the  UCC  filing  offices  in the  jurisdictions             specified by Company, together with copies of all such filings disclosed by such             search,  and  (B) UCC  termination  statements  (or  similar  documents)  duly             authorized  by  all  applicable  Persons  for  filing  in  all  applicable  jurisdictions  as             may  be  necessary  to  terminate  any  effective  UCC  financing  statements  (or             equivalent  filings)  disclosed  in  such  search  (other  than  any  such  financing             statements in respect of Permitted Liens); and                          (3)   evidence that each Guarantor Subsidiary shall have taken or             caused  to  be  taken  any  other  action,  executed  and  delivered  or caused  to  be             executed and delivered any other agreement, document and instrument (including             without limitation, any intercompany notes evidencing Indebtedness permitted to             be incurred pursuant to Section 6.1(b), (c), (d), (e) or (j), which may take the form              of the Intercompany Master Note) and made or caused to be made any other filing              and  recording  (other  than  as  set  forth  herein)  reasonably  required  by  Collateral              Agent to create or perfect a First Priority Lien on the personal property Collateral.                     (ii)  Pledged  Stock;  Stock  Powers;  Acknowledgment  and  Consent;        Pledged Notes.  The Collateral Agent shall have received (i) the certificates representing        the shares of Capital Stock pledged pursuant to the Pledge and Security Agreement and        Holding  Pledge  Agreement,  together  with  an  undated  stock  power for  each  such        certificate  executed  in  blank  by  a  duly  authorized  officer  of  the  pledgor  thereof,  and        (ii) each  promissory  note  pledged  pursuant  to  the  Pledge  and  Security  Agreement        endorsed (without recourse) in blank (or accompanied by an executed transfer form in        blank satisfactory to the Collateral Agent) by the pledgor thereof.   Notwithstanding  the  foregoing,  Company  may  determine,  in  its  sole  discretion,  to  cause  any  Exempt  Subsidiary  to  become  a  Guarantor  by  causing  such  Subsidiary to satisfy the  requirements of this Section 5.9.                In  the  event  that,  during  any  Fiscal  Quarter,  any  Person  becomes  a  Foreign  Subsidiary  of  Company  (other  than  an  Unrestricted  Subsidiary)  or  a  CFC  Holding  Company,  and  the  ownership interests of such Foreign Subsidiary or CFC Holding Company are directly owned by  Company  or  by  any  Domestic  Subsidiary  thereof  (other  than  a  Non-Guarantor  Subsidiary),  Company  shall  or  shall  cause  such  Domestic  Subsidiary  to,  deliver  all  such  documents,  instruments, agreements, and certificates as are similar to those described in Section 3.1(b); and                                      -136-                                           105376510    

 

     Company  shall  take,  or  shall  cause  such  Domestic  Subsidiary  to take,  all  reasonable  and   customary actions referred to in clause (i) above necessary to grant and to perfect a First Priority   Lien in favor of Collateral Agent, for the benefit of Secured Parties,  under  the  Pledge  and   Security Agreement in 65% of such ownership interests. With respect to each such Subsidiary,   Company  shall,  together  with  the  delivery  of  the  Compliance  Certificate  pursuant  to  Section   5.1(c)(i) for the applicable Fiscal Quarter (or, in the case of the last Fiscal Quarter of a Fiscal   Year, the applicable Fiscal Year) or at any later time as may be agreed by Administrative Agent,   send to Administrative Agent written notice setting forth with respect to such Person (i) the date   on which such Person became a Subsidiary of Company, and (ii) all of the data required to be set   forth in Schedule 4.1 and Schedule 4.2 with respect to all Subsidiaries of Company; provided,   such  written  notice  shall  be  deemed  to  supplement  Schedule 4.1  and  Schedule 4.2  for  all   purposes hereof.  Any Person that becomes a party to an Intercompany Note shall execute and   deliver  its  counterpart  signature  page  to  the  Intercompany  Subordination  Agreement.   Notwithstanding  the  foregoing,  no  Guarantor  Subsidiary  shall  be  required  to  pledge  any   Excluded Asset.          5.10  Additional  Material  Real  Estate  Assets.   In  the  event  that  Company  or  any   Guarantor Subsidiary acquires a Material Real Estate Asset and such interest has not otherwise   been made subject to the Lien of the Collateral Documents in favor of Collateral Agent, for the   benefit of Secured Parties, then Company or such Guarantor Subsidiary, within sixty (60) days   (or such longer period as may be agreed by Administrative Agent) after acquiring such Material   Real Estate Asset, shall take reasonable and customary actions and execute and deliver, or cause   to  be  executed  and  delivered,  the  flood  hazard  determination  required  by  Section  3.1(i)  and   evidence of flood insurance coverage as required by applicable law and the following:  (i) a fully   executed  and  notarized  Mortgage (together  with  UCC-1  fixture  filings  if  requested  by   Administrative Agent), in proper form  for recording in all appropriate places in all applicable   jurisdictions,  encumbering  such  Material  Real  Estate  Asset,  which  Mortgage  shall  effectively   create in favor of Collateral Agent for the benefit of the Secured Parties, a first-priority mortgage   Lien on such Material Real Estate Asset, subject only to Permitted Liens; (ii) ALTA mortgagee   title  insurance  policies  or  unconditional  commitments  therefor issued  by  one  or  more  title   companies reasonably satisfactory to Collateral Agent (a “Title Company”) with respect to such   Material Real Estate Asset (a “Title Policy”), in amounts not less than the fair market value of   such  Material  Real  Estate  Asset,  in  form  and  substance  reasonably  satisfactory  to  Collateral   Agent, (iii) evidence reasonably satisfactory to Collateral Agent of payment of all expenses and   premiums of the Title Company and all other sums required in connection with the issuance of   the Title Policy and all recording and stamp taxes (including mortgage recording and intangible   taxes) payable in connection with recording the Mortgage for such Material Real Estate Asset in   the  appropriate  real  estate  records;  (iv)  with  respect  to  the  Mortgage,  opinions,  addressed  to   Administrative Agent, Collateral Agent and the other Lenders of (A) outside counsel or in-house   counsel (consistent with those required by Section 3.1(e)), as to the due authorization, execution   and delivery of the Mortgage by Company or any Guarantor, as applicable, and (B) local counsel   in  each jurisdiction  such  Material Real  Estate Asset  is located as to other customary opinions   relating  to the  Mortgage;  (v)  with respect  to  such  Material  Real  Estate  Asset,  such  affidavits,   certificates,  instruments  of  indemnification  and  other  items  (including  a  so-called  “gap”   indemnification) as shall be reasonably required to induce the Title Company to issue the Title  Policies  contemplated  above;  and  (vi)  to  the  extent  in  the  possession  of  Company  or  the                                        -137-                                             105376510     

 

     applicable  Guarantor,  an  ALTA  survey  for  such  Material  Real  Estate  Asset,  together  with  an   affidavit  of  no  change  in  favor  of  the  Title  Company,  to  the  extent  that  Company  or  such   Guarantor Subsidiary is able to give such affidavit.  In addition to the foregoing, Company shall,   at  the  request  of  Requisite  Lenders,  deliver,  from  time  to  time,  to  Administrative  Agent  such   appraisals  as  are  required  by  law  or  regulation  of  Real  Estate Assets  with  respect  to  which   Collateral Agent has been granted a lien.          5.11  Further Assurances.  Subject to the terms of Sections 5.9 and 5.10, at any time   or  from  time  to  time  at  the  request  of  Administrative  Agent,  each  Credit  Party  will,  at  its   expense, promptly execute, acknowledge and deliver such further documents and do such other   acts and things, as Administrative Agent or Collateral Agent may reasonably request in order to   effect fully the purposes of the Credit Documents that do not involve material expansion of any   Credit Party’s obligations or duties under the Credit Documents from those originally mutually   intended  or  contemplated.   In  furtherance  and  not  in  limitation  of  the  foregoing,  each  Credit   Party  shall  take  such  actions  as  Administrative  Agent  or  Collateral  Agent  may  reasonably   request from time to time to ensure that the Obligations are guaranteed by the Guarantors and are   secured by the Collateral (subject to limitations contained in the Credit Documents); provided   that, no Guarantor Subsidiary shall be required to pledge any Excluded Asset.          5.12  [Reserved].         5.13   Anti-Corruption Laws.  Company and its Restricted Subsidiaries shall conduct  their businesses in compliance in all material respects with the United States Foreign Corrupt  Practices  Act  of  1977,  the  UK  Bribery  Act  2010,  Anti-Money  Laundering  Laws  and  other  similar  applicable  anti-corruption  legislation  and  shall  institute  and  maintain  policies  and   procedures designed to promote and achieve compliance with such laws.          5.14  Designation of Subsidiaries.  Company may at any time designate any Restricted  Subsidiary  as  an  Unrestricted  Subsidiary  or  any  Unrestricted  Subsidiary  as  a  Restricted  Subsidiary; provided that (i) immediately before and after such designation, no Default or Event   of  Default  shall  have  occurred  and  be  continuing  or  shall  be  caused  thereby,  (ii) immediately   after  giving  effect  to  such  designation,  Company  and  the  Restricted  Subsidiaries  shall  be  in   compliance with the financial covenants set forth in Section 6.7 on a Pro Forma Basis, (iii) with   respect to any Subsidiary to be designated as an Unrestricted Subsidiary, such Subsidiary or any   of its Subsidiaries does not own any Capital Stock or Indebtedness of or have any Investment in,   or own or hold any Lien on any property of, any other Subsidiary of Company which is not a   Subsidiary of the Subsidiary to be so designated or otherwise an  Unrestricted  Subsidiary,  and   (iv) no  Restricted  Subsidiary  may  be  designated  as  an  Unrestricted  Subsidiary  if  it  was   previously designated as an Unrestricted Subsidiary except any acquisition vehicle formed for   the purpose of making acquisitions and initially designated as an Unrestricted Subsidiary.   SECTION 6.  NEGATIVE COVENANTS         Each  of  Company  and  Guarantor  Subsidiaries  covenants  and  agrees  that,  until  the  Termination Date, Company and its Guarantor Subsidiaries shall perform, and shall cause each  of its Restricted Subsidiaries to perform, all covenants in this Section 6.                                        -138-                                             105376510     

 

         6.1   Indebtedness.  Neither Company nor any Guarantor Subsidiary shall, nor shall it  permit  any  of  its  Restricted  Subsidiaries  to,  directly  or  indirectly,  create,  incur,  assume  or  guaranty,  or  otherwise  become  or  remain  directly  or  indirectly liable with respect to any  Indebtedness, except:               (a)   the Obligations;               (b)   (i) Indebtedness of any Guarantor Subsidiary to Company or to any other  Guarantor  Subsidiary,  or  of  Company  to  any  Guarantor  Subsidiary;  provided,  all  such  Indebtedness shall be evidenced by an Intercompany Note; and (ii) Indebtedness of Company or  any Guarantor Subsidiary to any Restricted Subsidiary; provided, all such Indebtedness shall be  evidenced by an Intercompany Note;               (c)   Indebtedness  of  any  Restricted  Subsidiary  of  Company  (other  than  any  Guarantor Subsidiary) to Company or any Guarantor Subsidiary so long as the proceeds of such  Indebtedness are applied (i) to current requirements in respect of working capital, maintenance  capital expenditures, operation or payroll in the ordinary course of business of such Subsidiary  incurring such Indebtedness or (ii) to make lease payments of such Subsidiary, in each case to  the extent that the obligor with respect to such debt service or lease payments is required to make  such  payments;  provided  that  following  the  occurrence  of  and  continuance  of  an  Event  of  Default (without prejudicing or impairing any of the Secured Parties’ rights, privileges, powers  and remedies with respect thereto, which rights, privileges, powers and remedies are reserved in  full) no such Indebtedness may be incurred to make maintenance capital expenditures other than  those that, if not made, would materially compromise the ability of a Subsidiary to operate and  maintain one or more of the Projects in compliance with law or good industry practice; provided,  all  such  Indebtedness  permitted  under  this  clause  (c)  shall  be evidenced  by  an  Intercompany  Note;               (d)   (i) Indebtedness of any Restricted Subsidiary of Company (other than any  Guarantor Subsidiary) to Company or any other Restricted Subsidiary of Company, so long as  the proceeds are used to fund capital expenditures relating to the modifications to Projects, to the  extent  required  by  applicable  legal  requirements;  provided  that if  and  to  the  extent  that  such  additional  capital  expenditures  are  estimated  by  Company  to  exceed  $500,000,000  in  the  aggregate during the term of this Agreement, and are not otherwise reimbursable by third parties,  Company shall provide such estimate to Administrative Agent for its review, and shall not incur  such capital expenditures in an individual amount of more than $50,000,000 or in the aggregate  in  excess  of  $250,000,000  until  Administrative  Agent  has  had  an  opportunity  to  review  and  provide its comments, except to the extent failure to incur such capital expenditures would in  Company’s reasonable judgment either (x) materially compromise its present ability to continue  to operate and maintain one or more of its Projects in compliance with law or (y) expose it or its  Affiliates to material liability and (ii) Permitted Subordinated Indebtedness owed to Holding or  any  Unrestricted  Subsidiary;  provided  that  the  maturity  date  of  such  Permitted  Subordinated  Indebtedness shall be later by at least ninety-one (91) days than the then Latest Maturity Date of  the  Term  Loans  (as  determined  on  the  date  of  incurrence  of  such  Permitted  Subordinated  Indebtedness); provided, all such Indebtedness permitted under this clause (d) shall be evidenced  by an Intercompany Note;                                       -139-                                           105376510    

 

               (e)   Indebtedness  of  any  Restricted  Subsidiary  of  Company  (other  than  any  Guarantor Subsidiary) to Company or any Guarantor Subsidiary, the proceeds of which are used  solely  to  fund  Investments  made  by  such  Restricted  Subsidiary  but  only  to  the  extent  the  proceeds of each such Investment are used by the Restricted Subsidiary ultimately receiving the  proceeds of such Investments to make further Investments which are expressly permitted under  Section 6.6(e), (f), (j), (m), (n) or (u); provided, all such Indebtedness permitted under this clause  (e) shall be evidenced by an Intercompany Note;                (f)   Indebtedness  of  Foreign  Subsidiaries  of  Company  to  Company  or  any  Guarantor Subsidiary in an amount not to exceed $250,000,000 in the aggregate at any one time  outstanding;               (g)   Indebtedness of Foreign Subsidiaries or Domestic Subsidiaries that are not  Guarantor Subsidiaries (i) assumed in connection with any Permitted Acquisition or (ii) incurred  to finance any Permitted Acquisitions, in each case under clauses (i) and (ii), that is secured only  by  the  assets  or  business  acquired  in  the  applicable  Permitted Acquisition  (including  any  acquired Capital Stock) and so long as both immediately prior to and after giving effect thereto,  (A) no Event of Default shall have occurred and be continuing or would result therefrom, and  (B) Company  will  be  in  compliance  with  the  financial  maintenance  covenants  set  forth  in  Section 6.7 on a Pro Forma Basis after giving effect to such Permitted Acquisition and to such  Indebtedness  as  of  the  last  day  of  the  Fiscal  Quarter  most  recently  ended,  (iii) for  current  requirements  in  respect  of  working  capital,  maintenance  capital  expenditures,  operation  or  payroll in the ordinary course of business of such Subsidiary incurring such Indebtedness in an  aggregate  amount  not  to  exceed  $50,000,000  at  any  time  outstanding  or  (iv) any  Permitted  Refinancing of Indebtedness referred to in clause (i) or (ii) of this Section 6.1(g);               (h)   (i) Indebtedness of Company and the Guarantor Subsidiaries (A) assumed  in connection with any Permitted Acquisition; provided that such Indebtedness is not incurred in  contemplation of such Permitted Acquisition or (B) incurred to finance a Permitted Acquisition  and (ii) any Permitted Refinancing of the foregoing; provided that in each case of clause (i) and  (ii), both immediately before and after giving effect to incurrence of such Indebtedness and, with  respect  to  clause  (i),  both  immediately  before  and  after  the  consummation  of  the  relevant  Permitted Acquisition (x) no Event of Default shall have occurred and be continuing or would  result  therefrom  and  (y)  Company  will  be  in  compliance  with  the  financial  maintenance  covenants set  forth in Section  6.7 on  a  Pro  Forma  Basis  after  giving effect  to  such  Permitted  Acquisition and to such Indebtedness as of the last day of the Fiscal Quarter most recently ended;               (i)   (i)  Limited Recourse Debt of any Restricted Subsidiary of Company so  long  as  the  proceeds  of  which  are  applied  to  (1)  make  Expansions  after  the  Amendment  and  Restatement Effective Date, (2) develop or construct any new Project or (3) refinance or replace  the  equity  capitalization  in  connection  with  the  development  or  construction  of  any  Project  achieving commercial operation after the Amendment and Restatement Effective Date, in whole  or in part and (ii) any Permitted Refinancing of the foregoing; provided that in each case, both  immediately prior to and after giving effect thereto, (x) no Event of Default shall have occurred  and be continuing or would result therefrom, and (y) Company will be in compliance with the  covenants set forth in Section 6.7 on a Pro Forma Basis after giving effect to such Indebtedness                                       -140-                                           105376510    

 

     (to the extent included in the calculation thereof) as of the last day of the Fiscal Quarter most   recently ended;                (j)   Indebtedness of any Excluded Subsidiary to another Excluded Subsidiary   and Indebtedness of any Foreign Subsidiary to another Foreign Subsidiary; provided, all such   Indebtedness permitted under this clause (c) shall be evidenced by an Intercompany Note;                (k)   Indebtedness  incurred  by  Company  or  any  of  its  Restricted  Subsidiaries   arising from agreements providing for indemnification, adjustment of purchase price or earnout   or similar obligations incurred in connection with Permitted Acquisitions;                (l)   Indebtedness  which  may  be  deemed  to  exist  pursuant  to  any  guaranties,  performance,  surety,  statutory,  appeal,  bid,  payment  (other  than  payment  of  Indebtedness),  completion guaranties, workers’ compensation claims, deferred compensation, health, disability  or other employee benefits or property, casualty or liability insurance or self-insurance or similar  obligations  (including  any  bonds  or  letters  of  credit  obligations,  bank  guaranties  or  similar  instruments  with  respect  thereto  and  all  reimbursement  obligations  and  indemnification  type  obligations in connection therewith), in each case, incurred in the ordinary course of business or  consistent with past practice;               (m)   Indebtedness  in  respect  of  netting  services,  overdraft  protections  and  otherwise in connection with deposit accounts;               (n)   (i)  Indebtedness  outstanding  on  the  Amendment  and  Restatement  Effective  Date  and  listed  on  Schedule 6.1  and  any  Permitted  Refinancing  thereof  and   (ii) Indebtedness of any Restricted Subsidiary which was previously an Unrestricted Subsidiary,   to the extent outstanding on its date of redesignation as a Restricted Subsidiary in compliance   with Section 5.14; provided that the recourse of the holder or obligee of such Indebtedness is   limited to the assets and Capital Stock of such Restricted Subsidiary and its Subsidiaries;                (o)   (i)  Indebtedness of Company or its Restricted Subsidiaries with respect to   Capital  Leases  and  (ii) purchase money  Indebtedness  of  Restricted  Subsidiaries  of  Company  (excluding  any  Indebtedness  acquired  in  connection  with  a  Permitted  Acquisition)  in  an  aggregate amount in the case of (i) and (ii) together not to exceed the greater of (x) $200,000,000   and (y) 6.0% of Total Tangible Assets at any time outstanding; provided, in each case, that any   purchase money Indebtedness (A) shall be secured only by the asset acquired in connection with   the incurrence of such Indebtedness and (B) shall constitute not less than 75% of the aggregate   consideration paid with respect to such asset;                (p)   Company  and  its  Restricted  Subsidiaries  may  become  and  remain  liable   with respect to Permitted Letters of Credit;                (q)   Company  and  its  Restricted  Subsidiaries  may  become  and  remain  liable   with respect to usual and customary contingent obligations incurred in connection with insurance   deductibles  or  self-insurance  retentions  required  by  third  party  insurers  in  connection  with   insurance  arrangements  entered  into  by  Company  and  its  Restricted  Subsidiaries  with  such   insurers in compliance with Section 5.5;                                       -141-                                             105376510     

 

                 (r)   Company  and  its  Restricted  Subsidiaries  may  become  and  remain  liable   with respect to Performance Guaranties supporting Projects, provided that (a) the terms of any   such Performance Guaranty shall be in the ordinary course of business or generally consistent   with past practice of Company and its Restricted Subsidiaries, and (b) in no event shall any such   Performance Guaranty be secured by Collateral;                (s)   Company  may  become  and  remain  liable  with  respect  to  Indebtedness   consisting  solely  of  its  obligations  under  Insurance  Premium  Financing  Arrangements,  which   obligations shall not exceed at any time $50,000,000 in the aggregate;                (t)   Company  and  its  Restricted  Subsidiaries  may  become  and  remain  liable   with respect to Permitted Hedge Agreements and with respect to Commodities Agreements;                (u)   Company  and  its  Restricted  Subsidiaries  may  become  and  remain  liable   with  respect  to  contingent  obligations  incurred  in  exchange  (or  in  consideration)  for  (i) the   release of cash collateral pledged by Company or its Restricted Subsidiaries or (ii) the return and   cancellation of undrawn letters of credit for which Company or its Restricted Subsidiaries are   liable for reimbursement;                (v)   Indebtedness  of  any  Restricted  Subsidiary  of  Company  to  Company   reflecting  non-cash  intercompany  allocations  of  overhead  and  other  parent-level  costs  in   accordance with its customary allocation practices;                (w)   (i)  Permitted  Subordinated  Indebtedness  (other  than  to  Holding or  any   Unrestricted  Subsidiary),  provided  that  (x) both  immediately  prior  to  and  after  giving  effect   thereto, (1) no Event of Default shall have occurred and be continuing or would result therefrom,   and  (2) Company  will  be  in  compliance  with  the  covenants  set  forth  in  Section 6.7  on  a  Pro   Forma Basis after giving effect to such Indebtedness as of the last day of the Fiscal Quarter most   recently  ended,  (y) the  Weighted  Average  Life  to  Maturity  of  such  Permitted  Subordinated   Indebtedness shall be no shorter than the Weighted Average Life to Maturity of the Term Loans   (as  determined  on  the  date  of  incurrence  of  such  Permitted  Subordinated  Indebtedness),  and   (z) the  maturity  date  of  such  Permitted  Subordinated  Indebtedness shall be later by at least   ninety-one (91) days than the Latest Maturity Date of the Term Loans (as determined on the date   of incurrence of such Permitted Subordinated Indebtedness), and (ii) any Permitted Refinancing   of  clause (i)  (so  long  as  (x) the  Weighted  Average  Life  to  Maturity  of  such  Permitted   Refinancing shall be no shorter than the Weighted Average Life to Maturity of the Term Loans   (as determined on the date of incurrence of such Permitted Refinancing), and (y) the maturity   date of such Permitted Refinancing shall be later by at least ninety-one (91) days than the Latest   Maturity  Date  of  the  Term  Loans  (as  determined  on  the  date  of  incurrence  of  such  Permitted   Refinancing));                (x)   (i)  Additional  unsecured  Indebtedness  of  Company  or  any  Guarantor  Subsidiary,  provided  that  (x) both  immediately  prior  to  and  after  giving  effect  thereto,  (1) no   Event  of  Default  shall  have  occurred  and  be  continuing  or  would  result  therefrom,  and  (2) Company will be in compliance with the covenants set forth in Section 6.7 on a Pro Forma   Basis  after  giving  effect  to  such  Indebtedness  as  of  the  last  day of the Fiscal Quarter most   recently ended, (y) the Weighted Average Life to Maturity of such additional Indebtedness shall                                       -142-                                             105376510     

 

   be no shorter than the Weighted Average Life to Maturity of the Term Loans (as determined on  the date of incurrence of such additional unsecured Indebtedness), and (z) the maturity date of  such  additional  Indebtedness  shall  be  later  by  at  least  ninety-one  (91) days  than  the  Latest  Maturity Date of the Term Loans (as determined on the date of incurrence  of  such  additional  unsecured  Indebtedness)  and  (ii) any  Permitted  Refinancing  of  clause (i)  (so  long  as  (x) the  Weighted Average Life to Maturity of such Permitted Refinancing shall be no shorter than the  Weighted Average Life to Maturity of the Term Loans (as determined on the date of incurrence  of such Permitted Refinancing), and (y) the maturity date of such Permitted Refinancing shall be  later  by  at  least  ninety-one  (91) days  than  the  Latest  Maturity Date of the Term Loans (as  determined on the date of incurrence of such Permitted Refinancing));               (y)   Indebtedness of the Credit Parties so long as:                     (i)   the principal amount or accreted value, if applicable (in the case of        any such Indebtedness consisting of term loans) or maximum commitment amount (in the        case of any such Indebtedness consisting of revolving Indebtedness) of any Indebtedness        incurred pursuant to this Section 6.1(y) shall not exceed the principal amount (or accreted        value, if applicable) of the Term Loans so refinanced or exchanged except by an amount        equal  to  unpaid  accrued  interest  and  premium  thereon  plus  other  reasonable  amounts        paid,  including  fees  and  expenses  reasonably  incurred,  in  connection  with  such        modification, refinancing, refunding, renewal, extension or exchange;                     (ii)  such Indebtedness is unsecured or secured on a junior-lien basis by        Collateral  securing  the  Obligations,  and  if  secured  on  a  junior  lien  basis  a  Senior        Representative acting on behalf of the holders of such Indebtedness shall have become        party  to  an  Intercreditor  Agreement  (or  any  Intercreditor  Agreement  shall  have  been        amended or replaced in a manner reasonably acceptable to Administrative Agent, which        results  in  such  Senior  Representative  having  rights  to  share  in  the  Collateral  on  a        junior-lien basis, as applicable);                     (iii) such  Indebtedness  has  a  Weighted  Average  Life  to  Maturity  not        shorter  than  that  for  existing Term  Loans  (including  Additional  Term  Loans,  if  any)        having  the  Latest  Maturity  Date  (as  determined  on  the  date  of  incurrence  of  such        Indebtedness);  provided  that  no scheduled  principal  payments  (other  than  amortization        payments  consistent  with  such  Indebtedness’  amortization  schedule)  shall  be  required        under  such  Indebtedness  after  the  Latest  Maturity  Date  and  prior to the date that is        ninety-one (91) days after the Latest Maturity Date (in each case, as determined on the       date of incurrence of such Indebtedness);                    (iv)  no  Event  of  Default  shall  have  occurred  and  be  continuing  or       would otherwise result therefrom;                    (v)   the  stated  final  maturity  of  any  such  Indebtedness  is  not  earlier        than ninety-one (91) days outside the Latest Maturity Date (as determined on the date of        incurrence of such Indebtedness);                                       -143-                                           105376510    

 

                       (vi)  all  terms  and  conditions  (other  than  terms  that  apply  after  the         Latest Maturity Date and with respect to interest rates (including original issue discount         and  upfront  fees  and  prepayment  and  redemption  terms))  with  respect  to  such         Indebtedness  will  be  on  terms  not  materially  more  restrictive  (taken  as  a  whole)  to         Company  and  its  Restricted  Subsidiaries  than  those  with  respect  to  the  existing  Term         Loans; provided that (x) such Indebtedness shall not contain maintenance-based financial         covenants  and  (y) if  such  Indebtedness  contains  incurrence-based  financial  covenants,         such  incurrence-based  financial  covenants  (and  related  definitions)  will  be  consistent         with prevailing market conditions; provided, further, that a certificate of an Authorized         Officer  of  the  applicable  Credit  Party  delivered  to  Administrative  Agent  at  least  five         (5) Business Days (or such shorter period as Administrative Agent may reasonably agree)         prior  to  the  incurrence  of  such  Indebtedness,  together  with  a  reasonably  detailed         description  of  the  material  terms  and  conditions  of  such  Indebtedness  or  drafts  of  the         documentation relating thereto, certifying that the applicable Credit Party has determined         in  good  faith  that  the  terms  of  such  Indebtedness  satisfy  the  requirements  of  this         clause (vi) shall be conclusive evidence that such terms satisfy such requirements unless         Administrative  Agent  notifies  such  applicable  Credit  Party  within  such  period  that  it         disagrees with such determination (including a reasonable description of the basis upon         which it disagrees);                      (vii) no Person shall be an obligor in respect of such Indebtedness that         is not a Credit Party with respect to all Loans and Commitments; and                      (viii) the Net Cash Proceeds of such Indebtedness are used substantially         concurrently  with  the  incurrence of  such  Indebtedness  to  refinance  the  Term  Loans  or        shall be issued in exchange for Term Loans, in each case, in full on a dollar-for-dollar         basis;  provided  that  any  Term  Loans  that  are  so  refinanced  or  exchanged  shall  be         immediately cancelled in full;                (z)   Additional Indebtedness of Company and its Restricted Subsidiaries in an   amount not to exceed $200,000,000 in the aggregate at any time outstanding;               (aa)  Indebtedness  (i)  incurred  by  a  Receivables  Subsidiary  in  a  Qualified   Receivables Financing that is not recourse to Company or any Restricted Subsidiary other than a   Receivables  Subsidiary  (except  for  Standard  Securitization  Undertakings)  and  (ii)  incurred  in   connection  with  a  Qualified  Receivables  Financing  which  constitutes  Standard  Securitization   Undertakings; and                (bb)  (i) any guaranty by Company or a Restricted Subsidiary of Indebtedness   or other obligations of any Restricted Subsidiary so long as, in  the  case  of  a  guaranty  of   Indebtedness of a Restricted Subsidiary that is not a Guarantor by the Company or a Guarantor   Subsidiary, such Indebtedness is an Investment permitted by Section 6.6 and could have been   directly incurred by the Person providing such guaranty, and (ii) any guaranty by a Restricted  Subsidiary of Indebtedness of Company.         To the extent that the creation, incurrence or assumption of any Indebtedness could be  attributable  to  more  than  one  subsection  of  this  Section 6.1,  Company  may  allocate  such                                       -144-                                             105376510     

 

     Indebtedness to any one or more of such subsections and in no event shall the same portion of   Indebtedness be deemed to utilize or be attributable to more than one item.          6.2   Liens.  Neither Company nor any Guarantor Subsidiary shall, and shall not permit   any of its Restricted Subsidiaries to, directly or indirectly, create, incur, assume or permit to exist   any  Lien  on  or  with  respect  to any  property  or  asset  of  any  kind  (including  any  document  or   instrument  in  respect  of  goods  or  accounts  receivable)  of  Company  or  any  of  its  Restricted   Subsidiaries,  whether  now  owned  or  hereafter  acquired,  or  any  income  or  profits  therefrom,   except:                (a)   Liens  in  favor  of  Collateral  Agent  for  the  benefit  of  Secured  Parties   granted pursuant to any Credit Document;                (b)   Liens  for  Taxes  not  yet  due  and  payable  or  Taxes  if  obligations with  respect  to  such  Taxes  are  being  contested  in  good  faith  by  appropriate  proceedings  promptly  instituted and diligently conducted;               (c)   statutory  Liens  of  landlords,  banks  (and  rights  of  set-off),  carriers,  warehousemen, mechanics, repairmen, workmen and materialmen, and other Liens imposed by  law (other than any such Lien imposed pursuant to Section 430(k) of the Internal Revenue Code   or 303(k) of ERISA), in each case incurred in the ordinary course of business (i) for amounts not   yet  overdue  or  (ii) for  amounts that  are  overdue  and  that  (in  the  case  of  any  such  amounts   overdue for a period in excess of ten (10) days) are being diligently contested in good faith by   appropriate proceedings, so long as such reserves or other appropriate provisions, if any, as shall   be required by GAAP shall have been made for any such contested amounts;                (d)   Liens  incurred  and  deposits  made  in  the  ordinary  course  of  business  in   connection  with  workers’  compensation,  unemployment  insurance  and  other  types  of  social   security, or to secure the performance of tenders, statutory obligations, surety, performance, bid,  payment and appeal bonds, bids, leases, government contracts, trade contracts, performance and  return-of-money bonds and other similar obligations (exclusive of obligations for the payment of  borrowed money) so long as no foreclosure, sale or similar proceedings have been commenced  with respect to any portion of the Collateral on account thereof and Liens securing, or arising in   connection with the establishment of, required debt service reserve funds, provided that in the   case of Liens securing debt service reserve funds, completion obligations and similar accounts   and obligations (other than Indebtedness) of Restricted Subsidiaries of Company to Persons other   than Company and its Restricted Subsidiaries and their respective Affiliates, so long as (a) each   such obligation is associated with a Project, (b) such Lien is limited to (1) assets associated with  such  Project  (which  in  any  event  shall  not  include  assets  held by  Company  or  any  of  its  Restricted  Subsidiaries  other  than  a  Subsidiary  whose  sole  business is the ownership and/or  operation of such Project and substantially all of whose assets are associated with such Project)   and/or  (2) the  equity  interests  in  such  Subsidiary,  but  in  the case  of  clause (2)  only  if  such   Subsidiary’s sole business is the ownership and/or operation of such Project and substantially all   of such Subsidiary’s assets are associated with such Project, and (c) such obligation is otherwise   permitted under this Agreement;                                        -145-                                             105376510     

 

                 (e)   zoning restrictions, easements, rights-of-way, restrictions, encroachments,  and other minor defects or irregularities in title, in each case which do not and will not interfere  with the ordinary conduct of the business of Company or any of its Restricted Subsidiaries or  materially detract from the value of the property subject thereto;               (f)   any interest or title of a lessor or sublessor under any lease of real estate  permitted hereunder;               (g)   Liens solely on any cash earnest money deposits made by Company or any  of  its  Restricted  Subsidiaries  in  connection  with  any  letter  of  intent  or  purchase  agreement  permitted hereunder;               (h)   purported Liens evidenced by the filing of precautionary UCC financing  statements relating solely to operating leases of personal property entered into in the ordinary  course of business;               (i)   Lien on Cash or Cash Equivalents to the extent used to secure principal  and  interest  payments  to  the  extent  required  pursuant  to  indentures  otherwise  permitted  hereunder and funded with the proceeds of the issuance of notes thereunder;               (j)   Liens in favor of customs and revenue authorities arising as a matter of  law to secure payment of customs duties in connection with the importation of goods;               (k)   any  zoning  or  similar  law  or  right  reserved  to  or  vested  in  any   governmental office or agency to control or regulate the use of any real property, in each case   which  do  not  and  will  not  interfere  with  or  affect  in  any  material  respect  the  use,  value  or   operations of any Material Real Estate Asset or the ordinary conduct of the business of Company   or any of its Restricted Subsidiaries;                (l)   licenses  of  patents,  trademarks  and  other  intellectual  property rights   granted by Company or any of its Restricted Subsidiaries in the ordinary course of business;                (m)   Liens described in Schedule 6.2 or on the Title Policies;                (n)   Liens  arising  under  Capital  Leases  and  purchase  money  Indebtedness   permitted under Section 6.1(o); provided, in each case, (i) any such Lien shall encumber only the   asset  acquired  in  connection  with  the  incurrence  of  such  Indebtedness (plus  improvements  on   such asset, replacements of such asset, additions and accessions thereto, and the proceeds of the   foregoing  and  customary  security  deposits  in  respect  thereof  and,  in  the  case  of  multiple   financings of equipment provided by any lender, other equipment financed by such lender) and   (ii) any such Lien is created, within 270 days after such acquisition or construction;               (o)   (i) Liens on assets of any Restricted Subsidiary of Company and/or on the  stock or other equity interests of such Subsidiary, in each case to the extent such Liens secure   Limited Recourse Debt of such Subsidiary permitted by Section 6.1(i) and Liens on assets of any   Foreign Subsidiary of Company constituting equity interests in a Joint Venture to the extent such                                        -146-                                             105376510     

 

     Liens secure Indebtedness of such Joint Venture in respect of a Project and (ii) Liens consisting   of customary rights of first refusal and tag, drag and similar rights in joint venture agreements;                (p)   Liens  created  pursuant  to  Insurance  Premium  Financing  Arrangements   otherwise permitted under this Agreement, so long as such Liens attach only to gross unearned   premiums for the insurance policies and related rights;                (q)   Liens securing Indebtedness permitted by Section 6.1(n), provided that in   each  case  the  Liens  securing  any  refinancing  Indebtedness  shall attach only to the assets that   were subject to Liens securing the Indebtedness so refinanced;                (r)   Liens  securing  Indebtedness  permitted  by  Section 6.1(g)  but  only  to  the   extent such Liens are contemplated by Section 6.1(g);                (s)   rights and claims of creditors of Company and its Restricted Subsidiaries   to the bankruptcy reserve funds established in connection with the plan of reorganization in the   bankruptcy cases of Company and its Restricted Subsidiaries that became effective on March 10,   2004  and  held  in  a  designated  account  and  paid  into  such  account  prior  to  the  Closing  Date   pursuant to such plan of reorganizations;               (t)   Liens  on  cash  collateral  of  Company  and  its  Restricted  Subsidiaries   securing  insurance  deductibles  or  self-insurance  retentions  required  by  third  party  insurers  in   connection  with  (i) workers’  compensation  insurance  arrangements  entered  into  by  Company  and its Restricted Subsidiaries with such insurers and (ii) other insurance arrangements entered  into by Company and its Restricted Subsidiaries with such insurers in an amount not to exceed  $20,000,000 in the aggregate;               (u)   Liens  securing  Indebtedness  permitted  by  Section 6.1(h)  on  property  or   assets acquired (or on the property or assets of Persons acquired) in the Permitted Acquisition   financed with such Indebtedness but only if such Liens existed at the time of such acquisition   and were not created in contemplation of such acquisition;                (v)   Liens securing Indebtedness permitted by Section 6.1(y);                (w)   Liens  of  landlords  and  mortgagees  of  landlords  (i) arising  by  statute  or   under any lease or related contractual obligation entered into in the ordinary course of business,   (ii) on fixtures and movable tangible property located on the real property leased or subleased   from  such  landlord,  (iii) for  amounts  not  yet  due  or  that  are  being  contested  in  good  faith  by   appropriate  proceedings  diligently  conducted  and  (iv) for  which  adequate  reserves  or  other   appropriate provisions are maintained on the books of such Person in accordance with GAAP;                (x)   non-consensual statutory Liens and rights of setoff of financial institutions   over  deposit  accounts  held  at  such  financial  institutions  to  the  extent  such  Liens  or  rights  of   setoff  secure  or  allow  setoff  against  amounts  owing  for  fees  and  expenses  relating  to  the   applicable deposit account;                                         -147-                                             105376510     

 

                 (y)   possessory Liens in favor of brokers and dealers arising in connection with   the  acquisition  or  disposition  of  Investments;  provided  that  such  Liens  (i) attach  only  to  such   Investments  and  (ii) secure  only  obligations  incurred  in  the  ordinary  course  and  arising  in   connection  with  the  acquisition  or  disposition  of  such  Investments  and  not  any  obligation  in   connection with margin financing or otherwise;                (z)   trustees’  Liens  granted  pursuant  to  any  indenture  governing  any   Indebtedness  not  otherwise  prohibited  by  this  Agreement  in  favor  of  the  trustee  under  such  indenture  and  securing  only  obligations  to  pay  compensation  to such  trustee,  to  reimburse  its  expenses and to indemnify it under the terms thereof;               (aa)  (i) other Liens on assets other than the Collateral securing Indebtedness in  an  aggregate  amount  not  to  exceed  $100,000,000  at  any time  outstanding and (ii) other Liens  securing  Indebtedness  in  an  aggregate  amount  not  to  exceed  $10,000,000  at  any  time  outstanding;               (bb)  Liens  on  Cash  or  Cash  Equivalents  to  the  extent  used  to  secure Hedge  Agreements  and  letters  of  credit  permitted  under  Section  6.1(t)  in  an  amount  not  to  exceed   $100,000,000 in the aggregate;                 (cc)  Liens (i) in favor of the Company or the Guarantors and (ii) granted by   any  Restricted  Subsidiary  in  favor  of  any  other  Restricted  Subsidiary,  in  the  case  of  each  of   clauses (i) and (ii), securing intercompany Indebtedness and intercompany hedging arrangements   permitted under Section 6.1; provided, that any such Lien on any Collateral shall be junior in   priority to the Liens on the Collateral securing the Obligations;               (dd)  Liens securing judgments, orders or awards for the payment of money not   constituting an Event of Default under Section 8.1(h) or securing appeal or other surety bonds   relating to such judgments, orders or awards;                (ee)  Liens incurred in the ordinary course of business on securities to secure  repurchase  and  reverse  repurchase  obligations  in  respect  of  such  securities;  provided  that  the   related repurchase agreement constitutes a Cash Equivalent;                (ff)  (z) Liens arising (i) out of conditional sale, title retention, consignment or  similar arrangements for the sale of any assets or property in the ordinary course of business and  permitted by this Agreement or (ii) by operation of law under Article 2 of the UCC;                (gg)  Liens that are contractual rights of set-off (a) relating to the establishment  of depository relations with banks not given in connection with the issuance of Indebtedness, (b)  relating to pooled deposits or sweep accounts of Company or any of the Restricted Subsidiaries  to  permit  satisfaction  of  overdraft  or  similar  obligations  incurred  in  the  ordinary  course  of  business of Company and the Restricted Subsidiaries, or (c) relating to purchase orders and other  agreements entered into with customers in the ordinary course of business;               (hh)  Liens on Receivables Assets and related assets sold, conveyed, assigned or  otherwise transferred or purported to be so sold, conveyed, assigned or otherwise transferred in                                        -148-                                             105376510     

 

   connection  with  a  Qualified  Receivables  Financing  and  Liens  granted  by  any  Receivables  Subsidiary  on  such  Receivables  Assets  and  related  assets  securing  Indebtedness  or  other  obligations  of  such  Receivables  Subsidiary,  provided,  that  the aggregate  amount  of  such  Indebtedness and Receivables so transferred or sold to the Receivables Subsidiary and shall not  exceed $125,000,000 in the aggregate at any time outstanding.     To the extent that the creation, incurrence or assumption of any Liens could be attributable to  more than one subsection of this Section 6.2, Company may allocate such Liens to any one or  more of such subsections and in no event shall the same portion of Liens be deemed to utilize or  be attributable to more than one item.         6.3   No Further Negative Pledges.  Neither Company nor any Guarantor Subsidiary  shall,  nor  shall  it  permit  any  of  their  Restricted  Subsidiaries  to,  enter  into  any  agreement  prohibiting the creation or assumption of any Lien upon any of its properties or assets, whether  now owned or hereafter acquired, except with respect to:               (a)   property encumbered to secure payment of particular Indebtedness or to be  sold pursuant to an executed agreement with respect to an asset sale permitted hereunder,               (b)   restrictions contained in leases and licenses that relate only to the property  or rights leased or licensed thereunder,               (c)   restrictions contained in any instrument, document or agreement to which  any  Person  acquired  by  Company  or  a  Restricted  Subsidiary  in  a Permitted  Acquisition  is  a  party, provided that such restrictions (A) were not created in contemplation of such acquisition  and (B) are not applicable to any Person, property or assets other than the Persons so acquired  (and its Subsidiaries),               (d)   restrictions  by  reason  of  customary  provisions  restricting  assignments,  subletting or other transfers contained in leases, licenses and similar agreements entered into in  the  ordinary  course  of  business  (provided  that  such  restrictions  are  limited  to  the  property  or  assets secured by such Liens or the property or assets subject to such leases, licenses or similar  agreements, as the case may be),               (e)   restrictions  that  are  binding  on  a  Restricted  Subsidiary  at  the  time  such  Restricted Subsidiary first becomes a Restricted Subsidiary, so long as such restrictions were not  entered into solely in contemplation of such Person becoming a Restricted Subsidiary,               (f)   restrictions  in  agreements  evidencing  Indebtedness  permitted  by  Section 6.1(g), 6.1(h), 6.1(i), 6.1(n), 6.1(o), 6.1(w), 6.1(x), 6.1(y), 6.1(z) or 6.1(aa) to the extent  such  restrictions  are  usual  or  customary  in  agreements  evidencing  Indebtedness  of  such  types  and  do  not  impair  the  Lien  granted  pursuant  to  the  Credit  Documents  and  the  provisions  of  Sections 5.9,  5.10  and 5.11  of  this  Agreement  and  Section 5  of the  Pledge  and  Security  Agreement and the Holding Pledge Agreement,                (g)   provisions  in  the  principal  lease,  service  and  operating  agreements  pertaining  to  Projects  or  the  partnership  and  financing  agreements  relating  to  Projects,  or  any                                       -149-                                           105376510    

 

     extension, renewal or replacement thereof so long as in each case such lease, service, operating,   partnership or financing agreement is in effect as of the Amendment and Restatement Effective   Date,  is  otherwise  permitted  to  be  entered  into  hereunder  and, in  the  case  of  any  extension,   renewal  or  replacement,  such  agreement  contains  no  more  restrictive  provisions  relating  to   prohibiting the creation or assumption of any Lien upon the properties or assets of the relevant   Subsidiary  than  the  lease,  service,  operating,  partnership  or  financing  agreement  so  extended,  renewed or replaced; and               (h)   restrictions  in  connection  with  any  Permitted  Lien  or  any  document  or  instrument governing any Permitted Lien (provided, that any such restriction contained therein  relates only to the asset or assets subject to such Permitted Lien).         6.4   Restricted  Junior  Payments.  Neither Company nor any Guarantor Subsidiary  shall, nor shall it permit any of its Restricted Subsidiaries to, directly or indirectly, declare or   make any Restricted Junior Payment except that:                (a)   so  long  as  no  Event  of  Default  pursuant  to  Section 8.1(a)  shall have   occurred and be continuing, Company may reimburse Holding for the fees and reasonable costs   and expenses paid or payable by Holding related to any unsuccessful equity or debt offering of   Holding or unsuccessful proposed Permitted Acquisition or Investment;                (b)   for  so  long  as  Company  or  any  of  its  Subsidiaries  are  members  of  (or   disregarded  as  entities  separate  from  members  of)  a  group  filing  a  consolidated,  combined,   affiliated  or  unitary  income  tax  return  with  Holding,  Company  may  make  Restricted  Junior   Payments,  directly  or  indirectly,  to  Holding  in  amounts  required  for  Holding  to  pay  federal,   foreign, state and local income Taxes (and franchise or other similar Taxes imposed in lieu of   income  Taxes)  imposed  on  such  entity  to  the  extent  such  Taxes  are  directly  attributable  to   Company and its Subsidiaries; provided, however, that the amount of such payments in respect   of any tax year does not, in the aggregate, exceed the amount that Company and its Subsidiaries   that  are  members  of  (or  disregarded  as  entities  separate  from  members  of)  such  consolidated,   combined, affiliated or unitary group would have been required to pay in respect of such Taxes    in respect of such year if the Company and its Subsidiaries paid such Taxes directly on a separate   company  basis  or  as  a  stand-alone  consolidated,  combined,  affiliated  or  unitary  income  (or   similar) tax group (reduced by any such Taxes paid directly by Company or any Subsidiary);                (c)   Company  may  make  Restricted  Junior  Payments  to  Holding  in  order to   allow  Holding  to  (i)  make  regularly  scheduled  payments  of  interest  in  respect  of  (A)  the   Convertible Debentures, the 2022 Senior Notes, the 2024 Senior Notes, the 2025 Senior Notes,   the New Senior Notes and the Tax Exempt Debt and (B) Indebtedness of Holding incurred after   the  Amendment  and  Restatement  Effective  Date  the  proceeds  of  which  are  used  to  make  a   Holding Capital Contribution, and (ii) make mandatory prepayments or redemptions (including   payment  of  premium)  of,  make  payments  in  connection  with  the  exercise  by  holders  of   conversion  rights  with  respect  to,  or  repay  at  maturity  the  Convertible  Debentures  or  any   Indebtedness referred to in clause (i)(B) above; provided that the amounts used to make such   payments  referred  to  in  this  Section  6.4(c)(ii)  are  paid  from  (x)  the  proceeds  of  Indebtedness   incurred pursuant to Section 6.1(w) or 6.1(x) or Additional Term Loans or (y) any other source                                        -150-                                             105376510     

 

     of proceeds to the extent that after giving effect to such Restricted Junior Payment, the aggregate   amount of the undrawn Revolving Commitments then in effect shall exceed $125,000,000;                (d)   so long as no Event of Default shall have occurred and be continuing or   would be caused thereby, Company may make additional Restricted Junior Payments to Holding,   the proceeds of which may be utilized by Holding to make additional Restricted Junior Payments   or otherwise, in an aggregate amount not to exceed the sum of (i) $200,000,000 in any Fiscal   Year (with any unused amounts accumulating on a cumulative basis since the Amendment and   Restatement  Effective  Date  to  each  subsequent  year,  but  not  to exceed  $125,000,000  in  the   aggregate of amounts so carried forward while this Agreement is in effect, after which no further   amounts may be carried forward), (ii) the amount accrued pursuant to this Section 6.4(d) of the   First Amended and Restated Credit Agreement from the Closing Date to the Amendment and   Restatement  Effective  Date,  a  calculation  of  which  as  of  the  Amendment  and  Restatement   Effective Date is set forth on Schedule 6.4(d), and (iii) the Available Amount at such time;                (e)   so long as no Event of Default shall have occurred and be continuing or   would  be  caused  thereby,  Company  may  make  Restricted  Junior  Payments  in  respect  of   withholding  or  similar  Taxes  payable  by  any  future,  present  or former  employee,  director,   manager  or  consultant  (or  any  spouses,  former  spouses,  successors,  executors,  administrators,   heirs, legatees or distributes of any of the foregoing) relating to their acquisition of, or exercise   of options relating to, Capital Stock of Holding;                (f)   Company  may  make  Restricted  Junior  Payments  within  sixty  (60)  days  after date of declaration of any such Restricted Junior Payment if such Restricted Junior Payment  was permitted pursuant to this Section 6.4 on the date of declaration thereof;                (g)   so long as no Event of Default shall have occurred and be continuing or   would be caused thereby, Company may make Restricted Junior Payments to repurchase, redeem   or otherwise acquire for value any Capital Stock of Holding or Company representing fractional   shares of such Capital Stock in connection with a stock dividend, split or combination or any   merger, consolidation, amalgamation or other combination involving Holding or Company;                 (h)   so long as no Event of Default shall have occurred and be continuing or   would  be  caused  thereby,  Company  may  make  Restricted  Junior  Payments  to  redeem,   repurchase, retire or otherwise acquire, in each case for nominal value per right, of any rights   granted to  all  holders  of  Capital  Stock  of  Holding  or  Company  pursuant  to  any  stockholders’   rights plan adopted for the purpose of protecting stockholders from unfair takeover tactics;                (i)   so long as no Event of Default shall have occurred and be continuing or   would  be  caused  thereby,  Company  may  make  Restricted  Junior  Payments  to  dissenting   stockholders pursuant to applicable law in connection with any merger, consolidation or transfer   of all or substantially all of Holding’s, Company’s and its Restricted Subsidiaries’ assets that is   permitted under the terms of this Agreement;                (j)   so long as no Event of Default shall have occurred and be continuing or   would  be  caused  thereby,  Company  may  make  Restricted  Junior  Payments  that  constitute  a   refinancing, refunding, extension, defeasance, discharge, renewal or replacement of Indebtedness                                       -151-                                             105376510     

 

   permitted by Section 6.1 solely to the extent such Restricted Junior Payments are made with the  proceeds of any Indebtedness permitted to be incurred by Section 6.1;                (k)   so long as no Event of Default shall have occurred and be continuing or  would be caused thereby, Company may make Restricted Junior Payments to Holding in cash so  long as the Leverage Ratio as of the end of Fiscal Quarter immediately preceding the date of  such Restricted Junior Payment on a Pro Forma Basis is less than 2.00:1.00; and               (l)   purchases of receivables pursuant to a Receivables Repurchase Obligation  in  connection  with  a  Qualified  Receivables  Financing  and  the  payment  or  distribution  of  Receivables Fees.         To the extent that any Restricted Junior Payment could be attributable to more than one  subsection of this Section 6.4, Company may allocate such Restricted Junior Payment to any one  or more of such subsections and in no event shall the same portion of Restricted Junior Payment  be deemed to utilize or be attributable to more than one item.         6.5   Restrictions  on  Subsidiary  Distributions.   Except  as  provided  herein  or  any  document, instrument or agreement entered into in connection with a replacement or refinancing  of  any  of  the  foregoing  permitted  hereunder,  neither  Company  nor  any  Guarantor  Subsidiary  shall, nor shall it permit any of its Restricted Subsidiaries to, create or otherwise cause or suffer  to exist or become effective any consensual encumbrance or restriction of any kind on the ability  of any Restricted Subsidiary of Company to (i) pay dividends or make any other distributions on  any of such Subsidiary’s Capital Stock owned by Company or any other Restricted Subsidiary of  Company, (ii) repay or prepay any Indebtedness owed by such Subsidiary to Company or any  other Restricted Subsidiary of Company, (iii) make loans or advances to Company or any other  Restricted Subsidiary of Company, or (iv) transfer any of its property or assets to Company or  any other Restricted Subsidiary of Company other than restrictions that are of the type set forth  in clauses (i) through (iv) above               (a)   in the 2022 Senior Notes Documents, the 2024 Senior Notes Documents,  2025  Senior  Notes  Documents,  the  New  Senior  Notes  Documents,  Tax  Exempt  Debt  Documents,  the  documentation  with  respect  to  any  Qualified  Receivables  Financing  and  in  agreements  evidencing  Indebtedness  (A)  solely  with  respect  to  Indebtedness  incurred  by  Company, permitted by Sections 6.1(w) through 6.1(aa) to the extent such restrictions are usual  or  customary  in  agreements  evidencing  Indebtedness  of  such  type  or  (B)  permitted  by  Section 6.1(g), 6.1(h), 6.1(i), 6.1(n) or 6.1(o) that impose restrictions on the property so acquired,               (b)   by  reason  of  customary  provisions  restricting  assignments,  subletting  or  other transfers contained in leases, licenses, joint venture agreements and similar agreements,               (c)   by  reason  of  provisions  in  the  principal  lease,  service  or  operating  agreements, partnership agreements and financing agreements pertaining to Projects, so long as  such  lease, service  or  operating  agreements,  partnership  agreements  and  financing agreements  are extensions, renewals or replacements of such agreements are in effect as of the Amendment  and  Restatement  Effective  Date,  are  otherwise  permitted  to  be  entered  into  hereunder  and,  in  each  case  of  any  extensions,  renewals  or replacements,  contain no  more  restrictive  provisions                                      -152-                                           105376510    

 

     relating  to  the  ability  of  the  relevant  Subsidiary  to  take  the actions  described  in  clauses  (a)   through (d) than the agreement so extended, renewed or replaced,                (d)   that are or were created by virtue of any transfer of, agreement to transfer   or option or right with respect to any property, assets or Capital Stock not otherwise prohibited   under this Agreement,                (e)   contained in agreements relating to an asset sale permitted hereunder (or   to which Requisite Lenders have consented) (provided that such restrictions only apply to the   assets that are the subject of such a sale),                (f)   contained  in  agreements  relating  to  the  sale  or  disposition  of all  of  the   equity  interests  of  a  Subsidiary  permitted  hereunder  (or  to  which  the  Requisite  Lenders  have   consented)(provided that such restrictions only apply to the Subsidiary being sold or disposed of   and its Subsidiaries),                 (g)   that  are  binding  on  a  Restricted  Subsidiary  at  the  time  such  Restricted   Subsidiary first becomes a Restricted Subsidiary, so long as such restrictions were not entered   into solely in contemplation of such Person becoming a Restricted Subsidiary, or                (h)   by  reason  of  provisions  in  any  instrument,  document  or  agreement  to   which any Person acquired by Company or a Restricted Subsidiary in a Permitted Acquisition is   a party, provided that such restrictions (A) were not created in contemplation of such acquisition   and  (B)  are  not  applicable  to  any  Person,  property  or  assets  other  than  the  Person  (and  such   Person’s Subsidiaries) so acquired and their respective properties and assets.          6.6   Investments.  Neither Company nor any Guarantor Subsidiary shall, nor shall it   permit any of its Restricted Subsidiaries to, directly or indirectly, make or own any Investment in   any Person, including without limitation any Joint Venture, except:                (a)   Investments  in  Cash  and  Cash  Equivalents  (determined  when  such   Investment was made) and, to the extent made in connection therewith, Investments permitted or   imposed  under  the  terms  of  any  cash  collateral  or  debt  service reserve  agreement  (including   pursuant to the terms of any Project bond indenture) permitted hereunder;                (b)   equity  Investments  owned  as  of  the  Amendment  and  Restatement   Effective  Date  in  any  Restricted  Subsidiary  (and  any  modification,  renewal,  reinvestment  or   extension thereof; provided that the amount of the original Investment is not increased except   pursuant to the terms of such original Investment) and Investments made after the Amendment   and Restatement Effective Date in any Guarantor Subsidiaries of Company;               (c)   Investments (i) in any Securities or instruments received in satisfaction or  partial satisfaction thereof from financially troubled account debtors, (ii) received in settlement  of  disputes  or  as  consideration in  any  asset  sale  or  other  disposition  permitted  hereunder,  (iii) constituting deposits, prepayments and other credits to suppliers made in the ordinary course  of business consistent with the past practices of Company and its Restricted Subsidiaries, and                                        -153-                                             105376510     

 

     (iv) securities  of  trade  creditors  or  customers  that  are  received  in  settlement  of  bona  fide   disputes;                (d)   intercompany  loans  and  advances  to  the  extent  permitted  under   Section 6.1(b), 6.1(c), 6.1(d), 6.1(f) or 6.1(j);                (e)   (i)  Investments  by  a  Restricted  Subsidiary  of  Company  constituting   Consolidated Capital Expenditures by such Subsidiary, (ii) Investments consisting of purchases   and  acquisitions  of  inventory,  supplies,  material,  equipment  or  other  similar  assets  in  the   ordinary course of business and (iii) Investments by Company or any Guarantor Subsidiary in   any Restricted Subsidiary (other than any Guarantor Subsidiary), which are used solely to fund   Investments made, directly or indirectly, by such Restricted Subsidiary, but only to the extent the   proceeds of each such Investment are used by the Restricted Subsidiary ultimately receiving the   proceeds of such Investments to make further Investments which are expressly permitted under   clause (e), (f), (j), (m) or (u) of this Section 6.6;                (f)   Investments  made  in  connection  with  Permitted  Acquisitions  permitted   pursuant to Section 6.8;                (g)   (i)  Investments  described  in  Schedule 6.6(g)  (and  any  modification,   renewal, reinvestment or extension thereof; provided that the amount of the original Investment   is not increased except pursuant to the terms of such original Investment) and (ii) Investments by   a Restricted Subsidiary which was formerly an Unrestricted Subsidiary to the extent owned by it   as of its date of redesignation in compliance with Section 5.14;                (h)   [reserved];                (i)   Foreign Subsidiaries may make Investments in other Foreign Subsidiaries   and Excluded Subsidiaries may make Investments in other Excluded Subsidiaries which are their   direct or indirect Subsidiaries;                (j)   to the extent no Event of Default shall have occurred and be continuing at   the  time  the  same  are  made  or  shall  be  caused  thereby,  (i) equity  Investments  in  Foreign  Subsidiaries  and  Excluded  Subsidiaries  by  Company  or  any  Guarantor  Subsidiary  to  provide  such Subsidiary with equity capitalization necessary or advisable in connection with a Project (or  any Expansion thereof) of such Subsidiary, (ii) equity Investments in Restricted Subsidiaries by  Company or any Subsidiary to provide such Subsidiary with equity capitalization necessary or  advisable  in  connection  with  the  making  of  Permitted  Acquisitions,  (iii) Investments  in  any  Restricted  Subsidiary  that  is  not  a  Guarantor  Subsidiary  and  (iv) equity  Investments  in  Unrestricted Subsidiaries by Company or any Restricted Subsidiary in an aggregate amount not  to exceed $300,000,000 at any time outstanding;               (k)   Investments of Persons acquired in a Permitted Acquisition that existed at  the time of such acquisition;               (l)   Investments made, directly or indirectly, in any Restricted Subsidiary that  is not a Guarantor Subsidiary not to exceed $100,000,000 at any time outstanding;                                        -154-                                             105376510     

 

                 (m)   Investments  made,  directly  or  indirectly,  in  any  Joint  Venture (in  its   Capital Stock or otherwise) not to exceed $250,000,000 at any time outstanding; provided that if   any  Investment  pursuant  to  this clause (m)  is  made  in  any  Person  that  is  not  a  Subsidiary  of   Company at the date of the making of such Investment and such Person becomes a Subsidiary of   Company after such date, such Investment shall, only to the extent such Investment may be made   pursuant to clause (f) of this Section 6.6 at the time such Person becomes a Subsidiary, thereafter   be deemed to have been made pursuant to clause (f) of this Section 6.6 and shall cease to have   been made pursuant to this clause (m) for so long as such Person continues to be a Subsidiary of   Company;                (n)   Investments described on Schedule 6.6(n) (and any modification, renewal,   reinvestment  or  extension  thereof;  provided  that  the  amount  of the  original  Investment  is  not   increased  except  pursuant  to  the  terms  of  such  original  Investment  or  in  accordance  with  the   other provisions of this Section 6.6);                (o)   [reserved];                 (p)   de minimis  Investments  made  in  connection  with  the  incorporation  or   formation of any newly created Subsidiary of Company;                (q)   Investments  in  respect  of  lease,  utility  and  other  similar  deposits  in  the  ordinary course of business;                (r)   Investments resulting from the receipt of non-cash consideration received  in connection with Asset Sales permitted by Section 6.8;                 (s)   advances  of  payroll  payments  to  employees  in  the  ordinary  course  of   business and Investments made pursuant to employment and severance arrangements of officers   and employees in the ordinary course of business and transactions pursuant to stock option plans   and employee benefit plans and arrangements in the ordinary course of business;                 (t)   (i) guarantees of the obligations of Company or any Restricted Subsidiary   of Company of leases (other than Capital Leases) or of other obligations that do not constitute   Indebtedness,  in  each  case  entered  into  in  the  ordinary  course of  business  and  (ii)  guarantees   permitted by this Agreement;                 (u)   other Investments in an aggregate amount not to exceed (net of any cash   return  of  capital  received  by  Company  or  Restricted  Subsidiary in  respect  of  any  such   Investments)  the  sum  of  (i)  in  any  Fiscal  Year  $100,000,000  (with  any  unused  amounts   accumulating  on  a  cumulative  basis  since  the  Amendment  and  Restatement  Effective  Date  to   each  subsequent  year,  but  not to  exceed  $125,000,000  in  the  aggregate  of  amounts  so  carried   forward  while  this  Agreement  is  in  effect,  after  which  no  further  amounts  may  be  carried   forward),  (ii)  the  amount  accrued  pursuant  to  this  Section  6.6(u)  of  the  First  Amended  and   Restated Credit Agreement from the Closing Date to the Amendment and Restatement Effective   Date, a calculation of which as of the Amendment and Restatement Effective Date is set forth on   Schedule 6.6(u), and (iii) the Available Amount at such time;                                         -155-                                             105376510     

 

               (v)   Investments by Company or any of its Restricted Subsidiaries (directly or  indirectly)  in  any  GIG  Partnership  Project  in  an  amount  not  to exceed  $200,000,000  in  the  aggregate at any time outstanding; and               (w)   any  Investment  in  a  Receivables  Subsidiary  or  any  Investment  by a  Receivables  Subsidiary  in  any  other  Person  in  connection  with  a  Qualified  Receivables  Financing,  including  Investments  of  funds  held  in  accounts  permitted  or  required  by  the  arrangements governing such Qualified Receivables Financing or any related Indebtedness.     Notwithstanding  the  foregoing,  in no  event  shall  any  of  Company  or  any  of  its  Restricted  Subsidiaries make any Investment which results in or facilitates in any manner any Restricted  Junior Payment not otherwise permitted under the terms of Section 6.4.          To the extent that the making of any Investment could be deemed a use of more than one  subsection of this Section 6.6, Company may select the subsection to which such Investment will  be deemed a use and in no event shall the same portion of an Investment be deemed a use of  more than one subsection.         6.7   Financial Covenants.               (a)   Leverage Ratio.  Company shall not permit the Leverage Ratio as of the  last day of any Fiscal Quarter, beginning with the Fiscal Quarter ending September 30, 2018, to  exceed 4.00:1.00.               (b)   Interest Coverage Ratio.  Company shall not permit the Interest Coverage  Ratio  as  of  the  last  day  of  any  Fiscal  Quarter,  beginning  with the  Fiscal  Quarter  ending  September 30, 2018, to be less than 3.00:1.00.         6.8   Fundamental Changes; Disposition of Assets; Acquisitions.  Neither Company  nor any Guarantor Subsidiary shall, nor shall it permit any of its Restricted Subsidiaries to, enter  into any transaction of merger or consolidation, or liquidate, wind-up, divide or dissolve itself (or  suffer any liquidation or dissolution), or convey, sell, lease or sub-lease (as lessor or sublessor),  exchange, transfer or otherwise dispose of, in one transaction or a series of transactions, all or  any  part  of  its  business,  assets  or  property  of  any  kind  whatsoever,  whether  real,  personal  or  mixed and whether tangible or intangible, whether now owned or hereafter acquired, or acquire  by purchase or otherwise (other than purchases or other acquisitions of inventory, materials and  equipment  and  Consolidated  Capital  Expenditures  in  the  ordinary  course  of  business)  the  business, or stock or other evidence of beneficial ownership of, any Person or business unit of  any Person, except:               (a)   any  Restricted  Subsidiary  of  Company  may  be  merged  with  or  into  Company or any Guarantor Subsidiary, or be liquidated, wound up or dissolved, or all or any  part of its business, property or assets may be conveyed, sold, leased, transferred or otherwise  disposed  of,  in  one  transaction  or  a  series  of  transactions,  to  Company  or  any  Guarantor  Subsidiary; provided, in the case of such a merger, Company or such Guarantor Subsidiary, as  applicable shall be the continuing or surviving Person.  In addition, any Restricted Subsidiary of  Company that is not a Guarantor may be merged with or into any other Restricted Subsidiary of                                      -156-                                           105376510    

 

     Company that is not a Guarantor which is its direct parent or Subsidiary, or all or any part of its   business, property or assets may be conveyed, sold, leased, transferred or otherwise disposed of,   in one transaction or a series of transactions, to any other Restricted Subsidiary of Company that   is not a Guarantor and which is its direct parent or Subsidiary;                (b)   sales or other dispositions of assets that do not constitute Asset Sales;                (c)   any Asset Sales, the Net Asset Sale Proceeds of which when aggregated   with the proceeds of all other Asset Sales made in such Fiscal Year, do not exceed the greater of   (x) $150,000,000 and (y) 4.0% of Total Tangible Assets; provided (1) the consideration received   for such assets shall be in an amount at least equal to the fair market value (as determined by   Company  in  good  faith)  thereof,  (2) no  less  than 75%  thereof  shall  be paid  in  Cash  and  Cash   Equivalents (provided, further, that the following shall be excluded for purposes of determining   compliance with such 75% Cash or Cash Equivalent consideration requirement: (w) the amount   of  any  Indebtedness  or  other  liabilities  (other  than  Indebtedness  or  other  liabilities  that  are   subordinated to the Obligations or that are owed to the Company or any Restricted Subsidiary) of   the Company or any Restricted Subsidiary (as shown on such person’s most recent balance sheet   or statement of financial position (or in the notes thereto)) that are assumed by the transferee of   any such assets and for which the Company and/or its applicable Subsidiary have been validly   released by all relevant creditors in writing, (x) the amount of any trade-in value applied to the   purchase price of any replacement assets acquired in connection with such Asset Sale, (y) any   equity interests or securities received by the Company or any Restricted Subsidiary from such   transferee that are converted by such Person into Cash or Cash Equivalents (to the extent of the   Cash  or  Cash  Equivalents  received)  within  180  days  following  the  closing  of  the  applicable   Asset Sale and (z) any Designated Non-Cash Consideration received by the Company or any of   its Restricted Subsidiaries in respect of such Asset Sale, having an aggregate fair market value   (as determined by the Company in good faith), when taken together with all other Designated   Non-Cash Consideration received pursuant to this clause (z) or clause (z) of the corresponding   parenthetical in Section 6.8(e) below that is at that time outstanding, shall not be in excess of the   greater of (x) $100,000,000 and (y) 2.5% of Total Tangible Assets (with the fair market value of   each item of Designated Non-Cash Consideration being measured at the time received without   giving effect to subsequent changes in value)), and (3) the Net Asset Sale Proceeds thereof shall   be applied as required by Section 2.14(a) to the extent required thereby;                (d)   the sale or other dispositions of those assets identified on Schedule 6.8;                (e)   Asset Sales of non-core assets (as determined by Company in good faith)   acquired  in  any  Permitted  Acquisition  by  Company  and  any  of  its  Restricted  Subsidiaries;   provided that (i) such Asset Sales are commenced within eighteen (18) months of such Permitted   Acquisition, (ii) not less than 75% of the consideration received by Company and its Restricted   Subsidiaries in connection with any such Asset Sales is in the form of Cash and Cash (provided,  further, that the following shall be excluded for purposes of determining compliance with such  75% Cash or Cash Equivalent consideration requirement: (w) the amount of any Indebtedness or  other  liabilities  (other  than  Indebtedness  or  other  liabilities  that  are  subordinated  to  the  Obligations or that are owed to the Company or any Restricted Subsidiary) of the Company or  any Restricted Subsidiary (as shown on such person’s most recent balance sheet or statement of  financial position (or in the notes thereto)) that are assumed by the transferee of any such assets                                       -157-                                             105376510     

 

     and for which the Company and/or its applicable Subsidiary have been validly released by all   relevant creditors in writing, (x) the amount of any trade-in value applied to the purchase price of   any replacement assets acquired in connection with such Asset Sale, (y) any equity interests or   securities received by the Company or any Restricted Subsidiary from such transferee that are   converted  by  such  Person  into  Cash  or  Cash  Equivalents  (to  the extent of the Cash or Cash   Equivalents received) within 180 days following the closing of the applicable Asset Sale and (z)   any  Designated  Non-Cash  Consideration  received  by  the  Company  or  any  of  its  Restricted   Subsidiaries in respect of such Asset Sale, having an aggregate fair market value (as determined   by  the  Company  in  good  faith),  when  taken  together  with  all  other  Designated  Non-Cash   Consideration received pursuant to this clause (z) or clause (z) of the corresponding parenthetical   in Section 6.8(c) above that is at that time outstanding, shall not be in excess of the greater of (x)   $100,000,000 and (y) 2.5% of Total Tangible Assets (with the fair market value of each item of   Designated Non-Cash Consideration being measured at the time received without giving effect to   subsequent  changes  in  value));  (iii) the  consideration  received  by  Company  and  its  Restricted   Subsidiaries in connection with any such Asset Sales is equal to the fair market value of such   assets (as determined by Company in good faith); and (iv) the Net Asset Sale Proceeds from such  Asset Sales shall be applied as required by Section 2.14(a) to the extent required thereby;                (f)   Excluded Asset Sales;                (g)   (i) Permitted Acquisitions by Company or by any Guarantor Subsidiary of   a Person which becomes a Guarantor Subsidiary; (ii) Permitted Acquisitions by Company or by   any  Restricted  Subsidiary  of  a  Person  which  does  not  become  a  Guarantor  Subsidiary  to  the   extent the consideration paid by Company or by such Restricted Subsidiary does not exceed the   greater of (x) $500,000,000 and (y) 15.0% of Total Tangible Assets in the aggregate plus the   Available Amount at such time and (iii) acquisitions by Company of assets contributed to it by   Holding as equity capital contributions;                (h)   acquisitions of real property that is contiguous to real property owned by   Company or its Restricted Subsidiaries at such time; so long as such acquisition is either (i) by   Company or any Guarantor Subsidiary, or (ii) if not within clause (i) of this provision, is either   (A) financed with the proceeds of Limited Recourse Debt and/or the proceeds of an Investment   pursuant  to  Section 6.6(j)  or  (B) consummated  for  consideration  in  an  aggregate  amount   (together with any other acquisitions made in reliance on this Section 6.8(h)(ii)(B) following the   Amendment and Restatement Effective Date) not to exceed $90,000,000;                (i)   either  Company  or  any  Subsidiary  may  merge  with  any  other  Person  in  order  to  effect  the  designation  of  a  Restricted  Subsidiary  as  an  Unrestricted  Subsidiary  or  an  Unrestricted Subsidiary as a Restricted Subsidiary in accordance with Section 5.14;                (j)   (i)  any  Restricted  Subsidiary  that  is  not  a  Credit  Party  may  merge,   amalgamate or consolidate with or into any other Restricted Subsidiary that is not a Credit Party   and  (ii) any  Restricted  Subsidiary  (other  than  Company)  may  liquidate  or  dissolve,  or  any  of   Company or any Restricted Subsidiary may (if the validity, perfection and priority of the Liens   securing  the  Obligations  is  not  adversely  affected  thereby)  change  its  legal  form  if  Company   determines in good faith that such action is in the best interest of Company and its Subsidiaries   and is not disadvantageous to the Lenders in any material respect (it being understood that in the                                       -158-                                             105376510     

 

     case of any dissolution of a Restricted Subsidiary that is a Guarantor, such Subsidiary shall at or   before the time of such dissolution transfer its assets to another Restricted Subsidiary that is a   Guarantor unless such disposition of assets is permitted hereunder; and in the case of any change   in legal form, a Restricted Subsidiary that is a Guarantor will remain a Guarantor unless such   Guarantor is otherwise permitted to cease being a Guarantor hereunder);                (k)   the unwinding of any Hedge Agreement;                (l)   dispositions  of  Investments  in  joint  ventures  that  are  permitted  under  Section  6.6  to  the  extent  required  by,  or  made  pursuant  to  customary  buy/sell  arrangements   between,  the  joint  venture  parties  set  forth  in  joint  venture  arrangements  and  similar  binding   arrangements;                (m)   dispositions resulting from any casualty or other insured damage to, or any   taking  under  power  of  eminent  domain  or  by  condemnation  or  similar  proceeding  of,  any   property or asset; and                (n)   Investments  permitted  under  Section 6.6,  Liens  permitted  under Section   6.2 and Restricted Junior Payments permitted under Section 6.4.          6.9   Transactions  with  Shareholders  and  Affiliates.   Neither  Company  nor  any   Guarantor Subsidiary shall, nor shall it permit any of its Restricted Subsidiaries to, directly or   indirectly,  enter  into  or  permit  to  exist  any  transaction  (including  the  purchase,  sale,  lease  or   exchange of any property or the rendering of any service) with any Affiliate, on terms that are   less  favorable  to  Company  or  such  Restricted Subsidiary, as  the  case  may  be,  than  those  that   might  be  obtained  at  the  time  from  a  Person  who  is  not  an  Affiliate;  provided,  the  foregoing   restriction  shall  not  apply  to  (a) any  transaction  among  Credit  Parties  or  any  Restricted  Subsidiary  or  any  entity  that  becomes  a  Restricted  Subsidiary  as  a  result  of  such  transaction;  (b) reasonable  and  customary  fees  paid  to  members  of  the  board of  directors  (or  similar  governing body) of Company and its Restricted Subsidiaries; (c) compensation arrangements for  officers and other employees of Company and its Subsidiaries entered into in the ordinary course  of  business;  (d) payments  (and  other  transactions) otherwise  expressly  permitted  under  this  Section 6; (e) the Transactions and the transactions described in Schedule 6.9; (f) reasonable and   customary  indemnifications  and  insurance  arrangements  for  the  benefit  of  Persons  that  are   officers or members of the boards of directors (or similar governing bodies) of Company and its   Restricted Subsidiaries, whether such Persons are current or former officers or members at the   time such indemnifications or arrangements are entered into, provided that such indemnifications   and  arrangements  are  entered  into  at  arms’  length  and  on  terms that  are  no  less  favorable  to   Company or such Subsidiary, as the case may be, than those that would have been obtained at   the relevant time from Persons who are not Affiliates; (g) any transaction effected as part of a   Qualified  Receivables  Financing  and  (h)  any  transaction  involving  aggregate  payments  or   consideration of less than $5,000,000.          6.10  Conduct of Business.  From and after the Amendment and Restatement Effective   Date, neither Holding nor Company nor any Guarantor Subsidiary shall, nor shall it permit any   of its Restricted Subsidiaries to, engage in any business other than (i) the businesses engaged in   by  Holding,  Company  or  any  Restricted  Subsidiary  on  the  Amendment  and  Restatement                                       -159-                                             105376510     

 

   Effective Date and similar, related, incidental, ancillary, complimentary or synergistic businesses  (including,  but  not  limited  to,  the  establishment,  construction,  acquisition  and  operation  of  Projects  and  ash  recycling,  scrap  metal  processing,  waste  haulings,  transportation,  collection,  landfills  and  solar,  renewable  energy  and  other  similar  projects)  and  (ii) such  other  lines  of  business as may be consented to by Requisite Lenders.         6.11  Amendments or Waivers of Certain Agreements.  Neither Company nor any  Guarantor Subsidiary shall, nor shall it permit any of its Restricted Subsidiaries to, agree to any  material amendment, restatement, supplement or other modification to, or waiver of, any of its  material  rights  under  any  of  the  principal  documents  relating  to  Limited  Recourse  Debt  with  respect to a Project after the Amendment and Restatement Effective Date if such amendment,  restatement, modification or waiver, together with all other amendments,  restatements,  modifications  and  waivers  made,  would  reasonably  be  expected  to  have  a  Material  Adverse  Effect;  without  obtaining  the  prior  written  consent  of  Requisite  Lenders  to  such  amendment,  restatement, supplement or other modification or waiver.          6.12  Fiscal  Year.   No  Credit  Party  shall,  nor  shall  it  permit  any  of  its  Restricted  Subsidiaries  to  change  their  Fiscal  Year-end  except  that  Restricted  Subsidiaries  whose  Fiscal  Years end on dates different from those of Company may change their Fiscal Year-ends to align  with the Fiscal Year-end of the Company.         6.13  Hedge Agreements.  Neither Company nor any Guarantor Subsidiary shall, nor  shall it permit any of its Restricted Subsidiaries to, enter into any Hedge Agreement other than  Hedge  Agreements  constituting  Indebtedness  permitted  by  Section  6.1(t)  entered  into  in  the  ordinary  course  of  business,  and  not  for  speculative  purposes, to  protect  against  changes  in  interest rates, commodity prices or foreign exchange rates.         6.14  Sanctions.  No Credit Party shall, directly or indirectly, use the proceeds of any  Credit  Extension,  or  lend,  contribute  or  otherwise  make  available  such  proceeds  to  any  Subsidiary, joint venture partner or other individual or entity, to fund any activities of or business  with any Sanctioned Person, or in any Designated Jurisdiction, except to the extent permissible  for an individual or entity required to comply with Sanctions, or in any other manner that will  result  in  a  violation  by any  individual  or  entity  participating  in  the  transaction  (including  any  Lender, Lead Arranger, Administrative Agent, Issuing Bank or Swing Line Lender) of Sanctions.         6.15  Anti-Corruption  Laws.   No  Credit  Party  shall,  directly  or  indirectly,  use  the  proceeds  of  any  Credit  Extension  for  any  purpose  which  would  violate  any  applicable  anti- corruption  laws  or  any  Anti-Money  Laundering  Laws,  including  the  United  States  Foreign  Corrupt Practices Act of 1977 and other similar applicable anti-corruption legislation.   SECTION 7.  GUARANTY         7.1   Guaranty  of  the  Obligations.   Subject  to  the  provisions  of  Section 7.2,  Guarantors  jointly  and  severally  hereby  irrevocably  and  unconditionally  guaranty  to  Administrative Agent for the ratable benefit of the Beneficiaries the due and punctual payment in  full of all Obligations when the same shall become due, whether at stated maturity, by required  prepayment,  declaration,  acceleration,  demand  or  otherwise  (including  amounts  that  would                                      -160-                                           105376510    

 

     become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy   Code, 11 U.S.C. § 362(a)) (collectively, the “Guaranteed Obligations”).           7.2   Contribution  by  Guarantors.   All  Guarantors  desire  to  allocate  among   themselves (collectively, the “Contributing Guarantors”), in a fair and equitable manner, their   obligations arising under this Guaranty.  Accordingly, in the event any payment or distribution is   made on any date by a Guarantor (a “Funding Guarantor”) under this Guaranty such that its  Aggregate  Payments  exceeds  its  Fair  Share  as  of  such  date,  such  Funding  Guarantor  shall  be  entitled to a contribution from each of the other Contributing Guarantors in an amount sufficient  to cause each Contributing Guarantor’s Aggregate Payments to equal its Fair Share as of such  date.   “Fair  Share”  means,  with  respect  to  a  Contributing  Guarantor  as  of  any  date  of  determination, an amount equal to (a) the ratio of (i) the Fair Share Contribution Amount with  respect  to  such  Contributing  Guarantor  to  (ii) the  aggregate  of  the  Fair  Share  Contribution  Amounts with respect to all Contributing Guarantors multiplied by (b) the aggregate amount paid  or distributed on or before such date by all Funding Guarantors under this Guaranty in respect of  the  obligations  Guaranteed.   “Fair  Share  Contribution  Amount”  means,  with  respect  to  a  Contributing Guarantor as of any date of determination, the maximum aggregate amount of the  obligations  of  such  Contributing  Guarantor  under  this  Guaranty that  would  not  render  its  obligations hereunder or thereunder subject to avoidance as a fraudulent transfer or conveyance  under Section 548 of Title 11 of the United States Code or any comparable applicable provisions  of  state  law;  provided,  solely  for  purposes  of  calculating  the “Fair  Share  Contribution   Amount” with respect to any Contributing Guarantor for purposes of this Section 7.2, any assets   or  liabilities  of  such  Contributing  Guarantor  arising  by  virtue  of  any  rights  to  subrogation,  reimbursement or indemnification or any rights to or obligations of contribution hereunder shall  not  be  considered  as  assets  or  liabilities  of  such  Contributing  Guarantor.   “Aggregate  Payments” means, with respect to a Contributing Guarantor as of any date of determination, an  amount equal to (1) the aggregate amount of all payments and distributions made on or before  such  date  by  such  Contributing  Guarantor  in  respect  of  this  Guaranty  (including,  without  limitation,  in  respect  of  this  Section 7.2),  minus  (2) the  aggregate  amount  of  all  payments   received  on  or  before  such  date  by  such  Contributing  Guarantor from  the  other  Contributing   Guarantors  as  contributions  under  this  Section 7.2.   The  amounts  payable  as  contributions   hereunder shall be determined as of the date on which the related payment or distribution is made   by  the  applicable  Funding  Guarantor.   The  allocation  among  Contributing  Guarantors  of  their   obligations as set forth in this Section 7.2 shall not be construed in any way to limit the liability   of  any  Contributing  Guarantor  hereunder.   Each  Guarantor  is  a  third  party  beneficiary  to  the   contribution agreement set forth in this Section 7.2.          7.3   Payment by Guarantors.  Subject to Section 7.2, Guarantors hereby jointly and   severally agree, in furtherance of the foregoing and not in limitation of any other right which any   Beneficiary may have at law or in equity against any Guarantor by virtue hereof, that upon the   failure  of  Company  to  pay  any  of  the  Guaranteed  Obligations  when  and  as  the  same  shall   become  due,  whether  at  stated  maturity,  by  required  prepayment,  declaration,  acceleration,   demand  or  otherwise  (including  amounts  that  would  become  due  but  for  the  operation  of  the   automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C.  § 362(a)), Guarantors   will  upon  demand  pay,  or  cause  to  be  paid,  in  Cash,  to  Administrative  Agent  for  the  ratable   benefit  of  Beneficiaries,  an  amount  equal  to  the  sum  of  the  unpaid  principal  amount  of  all                                        -161-                                             105376510     

 

   Guaranteed Obligations then due as aforesaid, accrued and unpaid interest on such Guaranteed  Obligations (including interest which, but for Company’s becoming the subject of a case under  the  Bankruptcy  Code,  would  have  accrued  on  such  Guaranteed  Obligations,  whether  or  not  a  claim is allowed against Company for such interest in the related bankruptcy case) and all other  Guaranteed Obligations then owed to Beneficiaries as aforesaid.         7.4   Liability  of  Guarantors  Absolute.   Each  Guarantor  agrees  that  its  obligations  hereunder are irrevocable, absolute, independent and unconditional and shall not be affected by  any circumstance which constitutes a legal or equitable discharge of a guarantor or surety other  than payment in full of the Guaranteed Obligations.  In furtherance of the foregoing and without  limiting the generality thereof, each Guarantor agrees as follows:               (a)   this Guaranty is a guaranty of payment when due and not of collectability.   This Guaranty is a primary obligation of each Guarantor and not merely a contract of surety;               (b)   Administrative Agent may enforce this Guaranty upon the occurrence and  during  the  continuance  of  an  Event  of  Default  notwithstanding  the  existence  of  any  dispute  between Company and any Beneficiary with respect to the existence of such Event of Default;               (c)   the  obligations  of  each  Guarantor  hereunder  are  independent  of the  obligations  of  Company  and  the  obligations  of  any  other  guarantor  (including  any  other  Guarantor) of the obligations of Company, and a separate action or actions may be brought and  prosecuted against such Guarantor whether or not any action is brought against Company or any  of such other guarantors and whether or not Company is joined in any such action or actions;               (d)   payment  by  any  Guarantor  of  a  portion,  but  not  all,  of  the  Guaranteed  Obligations  shall  in  no  way  limit,  affect,  modify  or  abridge  any  Guarantor’s  liability  for  any  portion of the Guaranteed Obligations which has not been paid.  Without limiting the generality  of the foregoing, if Administrative Agent is awarded a judgment in any suit brought to enforce  any Guarantor’s covenant to pay a portion of the Guaranteed Obligations, such judgment shall  not be deemed to release such Guarantor from its covenant to pay the portion of the Guaranteed  Obligations that is not the subject of such suit, and such judgment shall not, except to the extent  satisfied  by  such  Guarantor,  limit,  affect,  modify  or  abridge  any  other  Guarantor’s  liability  hereunder in respect of the Guaranteed Obligations;               (e)   any Beneficiary, upon such terms as it deems appropriate, without notice  or  demand  and  without  affecting the  validity  or  enforceability  hereof  or  giving  rise  to  any  reduction,  limitation,  impairment,  discharge  or  termination  of any  Guarantor’s  liability  hereunder, from time to time may (i) renew, extend, accelerate, increase the rate of interest on, or  otherwise change the time, place, manner or terms of payment of the Guaranteed Obligations;  (ii) settle, compromise, release or discharge, or accept or refuse any offer of performance with  respect  to,  or  substitutions  for, the  Guaranteed  Obligations  or  any  agreement  relating  thereto  and/or subordinate the payment of the same to the payment of any other obligations; (iii) request  and  accept  other  guaranties  of  the  Guaranteed  Obligations  and  take  and  hold  security  for  the  payment  hereof  or  the  Guaranteed  Obligations;  (iv) release,  surrender,  exchange,  substitute,  compromise, settle, rescind, waive, alter, subordinate or modify, with or without consideration,  any security for payment of the Guaranteed Obligations, any other guaranties of the Guaranteed                                      -162-                                           105376510    

 

     Obligations, or any other obligation of any Person (including any other Guarantor) with respect   to the Guaranteed Obligations; (v) enforce and apply any security now or hereafter held by or for   the benefit of such Beneficiary in respect hereof or the Guaranteed Obligations and direct the   order or manner of sale thereof, or exercise any other right or remedy that such Beneficiary may   have against any such security, in each case as such Beneficiary in its discretion may determine   consistent herewith, the applicable Permitted Hedge Agreement, the applicable Permitted Letter   of Credit or the applicable Permitted Cash Management Agreement and any applicable security   agreement,  including  foreclosure  on  any  such  security  pursuant to  one  or  more  judicial  or   nonjudicial sales, whether or not every aspect of any such sale is commercially reasonable, and   even  though  such  action  operates  to  impair  or  extinguish  any  right  of  reimbursement  or   subrogation or other right or remedy of any Guarantor against Company or any security for the   Guaranteed  Obligations;  and  (vi) exercise  any  other  rights  available  to  it  under  the  Credit   Documents, the Permitted Hedge Agreements, the Permitted Letters of Credit or the Permitted   Cash Management Agreements; and                (f)   this Guaranty and the obligations of Guarantors hereunder shall be valid   and enforceable and shall not be subject to any reduction, limitation, impairment, discharge or   termination for any reason (other than payment in full of the Guaranteed Obligations), including   the occurrence of any of the following, whether or not any Guarantor shall have had notice or   knowledge  of  any  of  them:   (i) any  failure  or  omission  to  assert  or  enforce  or  agreement  or   election not to assert or enforce, or the stay or enjoining, by order of court, by operation of law or   otherwise, of the exercise or enforcement of, any claim or demand or any right, power or remedy   (whether  arising  under  the  Credit  Documents,  the  Permitted  Hedge  Agreements,  any  of  the   Permitted Letters of Credit, or the Permitted Cash Management Agreements, at law, in equity or   otherwise) with respect to the Guaranteed Obligations or any agreement relating thereto, or with   respect  to  any  other  guaranty  of  or  security  for  the  payment  of  the  Guaranteed  Obligations;   (ii) any rescission, waiver, amendment or modification of, or any consent to departure from, any   of the terms or provisions (including provisions relating to events of default) hereof, any of the   other Credit Documents, any of the Permitted Hedge Agreements, any of the Permitted Letters of   Credit,  any  of  the  Permitted  Cash  Management  Agreements  or  any agreement  or  instrument   executed pursuant thereto, or of any other guaranty or security for the Guaranteed Obligations, in  each case whether or not in accordance with the terms hereof or such Credit Document, such  Permitted Hedge Agreement, such Permitted Letter of Credit, such Permitted Cash Management  Agreement  or  any  agreement  relating  to  such  other  guaranty  or  security;  (iii) the  Guaranteed  Obligations, or any agreement relating thereto, at any time being found to be illegal, invalid or  unenforceable in any respect; (iv) the application of payments received from any source (other   than  payments  received  pursuant  to  the  Credit  Documents,  any  of the Permitted Hedge   Agreements,  any  of  the  Permitted  Letters  of  Credit,  any  of  the  Permitted  Cash  Management   Agreements or from the proceeds of any security for the Guaranteed Obligations, except to the   extent  such  security  also  serves  as  collateral  for  Indebtedness  other  than  the  Guaranteed   Obligations) to the payment of Indebtedness other than the Guaranteed Obligations, even though   any Beneficiary might have elected to apply such payment to any part or all of the Guaranteed   Obligations;  (v) any  Beneficiary’s  consent  to  the  change,  reorganization  or  termination  of  the   corporate structure or existence of Holding or any of its Subsidiaries and to any corresponding   restructuring of the Guaranteed Obligations; (vi) any failure to perfect or continue perfection of a   security interest  in  any  collateral  which  secures  any  of  the  Guaranteed  Obligations;  (vii) any                                        -163-                                             105376510     

 

     defenses, set-offs or counterclaims which Company may allege or assert against any Beneficiary   in respect of the Guaranteed Obligations, including failure of consideration, breach of warranty,   payment, statute of frauds, statute of limitations, accord and satisfaction and usury; and (viii) any   other act or thing or omission, or delay to do any other act or thing, which may or might in any   manner or to any extent vary the risk of any Guarantor as an obligor in respect of the Guaranteed   Obligations.          7.5   Waivers  by  Guarantors.   Each  Guarantor  hereby  waives,  for  the  benefit  of   Beneficiaries:  (a) any right to require any Beneficiary, as a condition of payment or performance   by  such  Guarantor,  to  (i) proceed  against  Company,  any  other  guarantor  (including  any  other   Guarantor) of  the  Guaranteed  Obligations  or  any  other  Person,  (ii) proceed  against  or  exhaust   any  security  held  from  Company,  any  such  other  guarantor  or  any  other  Person,  (iii) proceed   against  or  have  resort  to  any balance  of  any  Deposit  Account  or  credit  on  the  books  of  any   Beneficiary in favor of  Company or any other Person, or (iv) pursue any other remedy in the   power of any Beneficiary whatsoever; (b) any defense arising by reason of the incapacity, lack of   authority or any disability or other defense of Company or any other Guarantor including any   defense based on or arising out of the lack of validity or the unenforceability of the Guaranteed   Obligations or any agreement or instrument relating thereto or by reason of the cessation of the   liability of Company or any other Guarantor from any cause other than payment in full of the   Guaranteed Obligations; (c) any defense based upon any statute or rule of law which provides   that  the  obligation  of  a  surety  must  be  neither  larger  in  amount  nor  in  other  respects  more   burdensome than that of the principal; (d) any defense based upon any Beneficiary’s errors or   omissions in the administration of the Guaranteed Obligations, except behavior which amounts   to bad faith; (e) (i) any principles or provisions of law, statutory or otherwise, which are or might   be  in  conflict  with  the  terms  hereof  and  any  legal  or  equitable  discharge  of  such  Guarantor’s   obligations  hereunder,  (ii) the  benefit  of  any  statute  of  limitations  affecting  such  Guarantor’s   liability  hereunder  or  the  enforcement  hereof,  (iii) any  rights  to  set-offs,  recoupments  and  counterclaims, and (iv) promptness, diligence and any requirement that any Beneficiary protect,   secure, perfect or insure any security interest or lien or any property subject thereto; (f) notices,   demands, presentments, protests, notices of protest, notices of dishonor and notices of any action   or  inaction,  including  acceptance  hereof,  notices  of  default  hereunder,  the  Permitted  Hedge   Agreements, the Permitted Letters of Credit, the Permitted Cash Management Agreements or any   agreement or instrument related thereto, notices of any renewal, extension or modification of the   Guaranteed Obligations or any agreement related thereto, notices of any extension of credit to   Company and notices of any of the matters referred to in Section 7.4 and any right to consent to   any thereof; and (g) any defenses or benefits that may be derived from or afforded by law which   limit the liability of or exonerate guarantors or sureties, or which may conflict with the terms   hereof.          7.6   Guarantors’ Rights of Subrogation, Contribution, etc.  Until the Termination   Date,  each  Guarantor  hereby  waives  any  claim,  right  or  remedy, direct  or  indirect,  that  such   Guarantor now has or may hereafter have against Company or any other Guarantor or any of its   assets in connection with this Guaranty or the performance by such Guarantor of its obligations   hereunder, in each case whether such claim, right or remedy arises in equity, under contract, by   statute,  under  common  law  or  otherwise  and  including  without  limitation  (a) any  right  of   subrogation,  reimbursement  or  indemnification  that  such  Guarantor now has or may hereafter                                        -164-                                             105376510     

 

   have against Company with respect to the Guaranteed Obligations, (b) any right to enforce, or to  participate in, any claim, right or remedy that any Beneficiary now has or may hereafter have  against Company, and (c) any benefit of, and any right to participate in, any collateral or security  now  or  hereafter  held  by  any  Beneficiary.   In  addition,  until  the  Termination  Date,  each  Guarantor shall withhold exercise of any right of contribution such Guarantor may have against  any other guarantor (including any other Guarantor) of the Guaranteed Obligations, including,  without  limitation,  any  such  right  of  contribution  as  contemplated  by  Section 7.2.   Each  Guarantor further agrees that, to the extent the waiver or agreement to withhold the exercise of  its rights of subrogation, reimbursement, indemnification and contribution as set forth herein is  found by a court of competent jurisdiction to be void or voidable for any reason, any rights of  subrogation, reimbursement or indemnification such Guarantor may have against Company or  against any collateral or security, and any rights of contribution such Guarantor may have against  any such other guarantor, shall be junior and subordinate to any rights any Beneficiary may have  against Company, to all right, title and interest any Beneficiary may have in any such collateral  or  security,  and  to  any  right  any  Beneficiary  may  have  against such  other  guarantor.   If  any  amount  shall  be  paid  to  any  Guarantor  on  account  of  any  such  subrogation,  reimbursement,  indemnification or contribution rights at any time prior to the Termination Date, such amount  shall be held in trust for Administrative Agent on behalf of Beneficiaries and shall forthwith be  paid  over  to  Administrative  Agent  for  the  benefit  of  Beneficiaries  to  be  credited  and  applied  against the Guaranteed Obligations, whether matured or unmatured, in accordance with the terms  hereof.         7.7   Subordination  of  Other  Obligations.   Any  Indebtedness  of  Company  or  any  Guarantor  now  or  hereafter  held  by  any  Guarantor  (the  “Obligee  Guarantor”)  is  hereby  subordinated  in  right  of  payment  to  the  Guaranteed  Obligations,  and  any  such  Indebtedness  collected  or  received  by  the  Obligee  Guarantor  after  receipt  of  notice  of  an  Event  of  Default  (which  has  occurred  and  is  continuing)  by  Administrative  Agent shall be held in trust for  Administrative  Agent  on  behalf  of  Beneficiaries  and  shall  forthwith  be  paid  over  to  Administrative  Agent  for  the  benefit  of  Beneficiaries  to  be  credited  and  applied  against  the  Guaranteed Obligations but without affecting, impairing or limiting in any manner the liability of  the Obligee Guarantor under any other provision hereof.         7.8   Continuing Guaranty.  This Guaranty is a continuing guaranty and shall remain  in  effect  until  the  Termination  Date.   Each  Guarantor  hereby  irrevocably  waives  any  right  to  revoke this Guaranty as to future transactions giving rise to any Guaranteed Obligations.         7.9   Authority of Guarantors or Company.  It is not necessary for any Beneficiary  to inquire into the capacity or powers of any Guarantor or Company or the officers, directors or  any agents acting or purporting to act on behalf of any of them.         7.10  Financial  Condition  of  Company.   Any  Credit  Extension  may  be  made  to  Company or continued from time to time, any Permitted Hedge Agreements may be entered into  from time to time, any Permitted Letter of Credit may be entered into from time to time, and any  Permitted Cash Management Agreements may be entered into from time to time, in each case  without  notice  to  or  authorization  from  any  Guarantor  regardless  of  the  financial  or  other  condition of Company at the time of any such grant or continuation or at the time such Permitted  Hedge  Agreement,  such  Permitted  Letter  of  Credit  or  such  Permitted  Cash  Management                                      -165-                                           105376510    

 

     Agreement  is  entered  into,  as  the  case  may  be.   No  Beneficiary shall  have  any  obligation  to   disclose  or  discuss  with  any  Guarantor  its  assessment,  or  any  Guarantor’s  assessment,  of  the   financial condition of Company.  Each Guarantor has adequate means to obtain information from   Company on a continuing basis concerning the financial condition of Company and its ability to   perform  its  obligations  under  the  Credit  Documents,  the  Permitted  Hedge  Agreements,  the   Permitted  Letters  of  Credit,  the  Permitted  Cash  Management  Agreements  and  each  Guarantor   assumes the responsibility for being and keeping informed of the financial condition of Company   and  of  all  circumstances  bearing  upon  the risk  of  nonpayment  of  the  Guaranteed  Obligations.    Each  Guarantor  hereby  waives  and  relinquishes  any  duty  on  the  part  of  any  Beneficiary  to   disclose any matter, fact or thing relating to the business, operations or conditions of Company   now known or hereafter known by any Beneficiary.          7.11  Bankruptcy, etc.                (a)   So long as any Guaranteed Obligations remain outstanding, no Guarantor   shall,  without  the  prior  written  consent  of  Administrative  Agent  acting  pursuant  to  the   instructions of Requisite Lenders, commence or join with any other Person in commencing any   involuntary bankruptcy, reorganization or insolvency case or proceeding of or against Company  or any other Guarantor.  The obligations of Guarantors hereunder shall not be reduced, limited,  impaired, discharged, deferred, suspended or terminated by any case or proceeding, voluntary or  involuntary,  involving  the  bankruptcy,  insolvency,  receivership,  reorganization,  liquidation  or   arrangement of Company or any other Guarantor or by any defense which Company or any other   Guarantor may have by reason of the order, decree or decision of any court or administrative   body resulting from any such proceeding.                (b)   Each Guarantor acknowledges and agrees that any interest on any portion   of the Guaranteed Obligations which accrues after the commencement of any case or proceeding   referred to in clause (a) above against Company (or, if interest on any portion of the Guaranteed   Obligations ceases to accrue by operation of law by reason of the commencement of such case or   proceeding, such interest as would have accrued on such portion of the Guaranteed Obligations if   such  case  or  proceeding  had  not been  commenced)  shall  be  included  in  the  Guaranteed   Obligations  because  it  is  the  intention  of  Guarantors  and  Beneficiaries  that  the  Guaranteed   Obligations which are guaranteed by Guarantors pursuant hereto should be determined without   regard  to  any  rule  of  law  or  order  which  may  relieve  Company  of  any  portion  of  such   Guaranteed Obligations.  Guarantors will permit any trustee in bankruptcy, receiver, debtor in   possession, assignee for the benefit of creditors or similar person to pay Administrative Agent, or   allow the claim of Administrative Agent in respect of, any such interest accruing after the date   on which such case or proceeding is commenced.                (c)   In the event that all or any portion of the Guaranteed Obligations are paid   by Company, the obligations of Guarantors hereunder shall continue and remain in full force and   effect or be reinstated, as the case may be, in the event that all or any part of such payment(s) are   rescinded  or  recovered  directly  or  indirectly  from  any  Beneficiary  as  a  preference,  fraudulent   transfer  or  otherwise,  and  any  such  payments  which  are  so  rescinded  or  recovered  shall   constitute Guaranteed Obligations for all purposes hereunder.                                        -166-                                             105376510     

 

           7.12  Discharge of Guaranty.  If any Guarantor Subsidiary ceases to be a Restricted   Subsidiary as a result of a transaction permitted under the Credit Documents or any Guarantor   Subsidiary  has  been  designated  as an Unrestricted Subsidiary pursuant  to  Section 5.14,  the   Guaranty of such Guarantor or such successor in interest, as the case may be, hereunder shall   automatically be discharged and released without any further action by any Beneficiary or any   other Person effective as of the time of such sale or disposition.           7.13  Reaffirmation.  All rights, benefits, interests, duties, liabilities and obligations of   the parties to the Collateral Documents and the agreements, documents and instruments executed   and  delivered  in  connection  with  the  Collateral  Documents  are  hereby  confirmed,  renewed,   affirmed and continued by this Agreement and are expanded to secure the Obligations as defined   herein.  Without limitation of the foregoing, all security interests, pledges, assignments and other   Liens  previously  granted  by  Company  or  any  Guarantor,  as  a  “Grantor”,  pursuant  to  the   Collateral Documents are confirmed, renewed, affirmed and continued by this Agreement, and   all such security interests, pledges, assignments and other Liens shall remain in full force and   effect  as  security  for  all  Obligations  (including,  without,  limitation,  any  Permitted  Letters  of  Credit)  with  no  change  in  the  priority  applicable  thereto,  in  each  case,  subject  only  to  Liens  permitted under this Agreement.    SECTION 8.  EVENTS OF DEFAULT         8.1   Events of Default.  If any one or more of the following conditions or events shall   occur:                 (a)   Failure  to  Make  Payments  When  Due.   Failure  by  Company  to  pay   (i) when  due  any  installment  of  principal  of  any  Loan,  whether at  stated  maturity,  by   acceleration,  by  notice  of  voluntary  prepayment,  by  mandatory  prepayment  or  otherwise;   (ii) when due any amount payable to an Issuing Bank in reimbursement of any drawing under a   Letter of Credit; or (iii) any interest on any Loan or any fee or any other amount due hereunder   within five (5) Business Days after the date due; or                (b)   Default  in  Other  Agreements.   (i) Failure  of  any  of  Company  or its   Restricted Subsidiaries or Holding to pay when due any principal of or interest on or any other   amount  payable  in  respect  of  one  or  more  items  of  Indebtedness (other  than  Indebtedness   referred  to  in  Section 8.1(a)  and  other  than  Limited  Recourse  Debt  permitted  to  be  incurred   hereunder and incurred in connection with one or more Projects to which less than $50,000,000   in  the  aggregate  of  the  operating  income  of  Company  and  its  Restricted  Subsidiaries  (on  a   consolidated basis) is attributable for the 12-month period immediately preceding the failure to   pay  such  interest,  principal  or  other  amounts)  in  an  individual  principal  amount  or  with  an   aggregate principal amount of $50,000,000 or more, in each case beyond the grace period, if any,   provided therefor; or (ii) breach or default by any of Company or its Restricted Subsidiaries with   respect to any other material term of (1) one or more items of Indebtedness in the individual or   aggregate principal amounts referred to in clause (i) above, or (2) any loan agreement, mortgage,   indenture or other agreement relating to such item(s) of Indebtedness, in each case beyond the   grace period, if any, provided therefor, if the effect of such breach or default is to cause, or to   permit  the  holder  or  holders  of  that  Indebtedness  (or  a  trustee  on  behalf  of  such  holder  or   holders), to cause, that Indebtedness to become or be declared due and payable (or redeemable),                                       -167-                                             105376510     

 

   or to require the prepayment, redemption, repurchase or defeasance of, or to cause Company or  any of its Restricted Subsidiaries to make any offer to prepay, redeem, repurchase or defease that  Indebtedness prior to its stated maturity or the stated maturity of any underlying obligation, as  the case may be; provided that this clause (b) shall not apply to (x) secured Indebtedness that  becomes due as a result of the voluntary sale or transfer of the property or assets securing such  Indebtedness, if such sale or transfer is permitted hereunder and under the documents providing  for such Indebtedness, or (y) Indebtedness which is convertible into common Capital Stock of  Holding to the extent such Indebtedness is converted to Capital Stock of Holding in accordance  with its terms and such conversion is not prohibited hereunder; or                (c)   Breach of Certain Covenants.  Failure of any Credit Party to perform or  comply with any term or condition contained in Section 2.6, Section 5.2 (with respect to Holding  and Company) or Section 6; or               (d)   Breach of Representations, etc.  Any representation, warranty, certification  or other statement made or deemed made by any Credit Party in any Credit Document or in any  statement or certificate at any time given by any Credit Party or any of its Restricted Subsidiaries  in writing pursuant hereto or thereto or in connection herewith or therewith shall be false in any  material respect as of the date made or deemed made; or               (e)   Other Defaults Under Credit Documents.  Any Credit Party shall default in  the  performance  of  or  compliance  with  any  term  contained  herein or any of the other Credit  Documents, other than any such term referred to in any other provision of this Section 8.1, and  such  default  shall  not  have  been  remedied  or  waived  within  thirty  (30) days  after  receipt  by  Company of notice from Administrative Agent or any Lender of such default; or               (f)   Involuntary  Bankruptcy;  Appointment  of  Receiver,  etc.   (i) A  court  of  competent jurisdiction shall enter a decree or order for relief in respect of Holding, Company,  any Aggregatable Restricted Subsidiaries or any Material Restricted Subsidiary in an involuntary  case  under  any  Debtor  Relief  Laws  now  or  hereafter  in  effect,  which  decree  or  order  is  not  stayed; or any other similar relief shall be granted under any applicable federal or state law; or  (ii) an  involuntary  case  shall be  commenced  against  Holding,  Company,  any  Aggregatable  Restricted Subsidiaries or any Material Restricted Subsidiary under any Debtor Relief Laws now  or hereafter in effect; or a decree or order of a court having jurisdiction in the premises for the  appointment  of  a  receiver,  liquidator,  sequestrator,  trustee,  custodian  or  other  officer  having  similar  powers  over  Holding,  Company,  any  Aggregatable  Restricted  Subsidiaries  or  any  Material Restricted Subsidiary, or over all or a substantial part of its property, shall have been  entered; or there shall have occurred the involuntary appointment of an interim receiver, trustee  or  other  custodian  of  Holding,  Company,  any  Aggregatable  Restricted  Subsidiaries  or  any  Material  Restricted  Subsidiary  for  all  or  a  substantial  part  of its property; or a warrant of  attachment, execution or similar process shall have been issued against any substantial part of the  property  of  Holding,  Company,  any Aggregatable  Restricted  Subsidiaries  or  any  Material  Restricted  Subsidiary,  and  any  such  event  described  in  this  clause (ii)  shall  continue  for  sixty  (60) days without having been dismissed, bonded or discharged; or               (g)   Voluntary Bankruptcy; Appointment of Receiver, etc.  Holding, Company,  any  Aggregatable  Restricted  Subsidiaries  or  any  Material  Restricted  Subsidiary  shall  have  an                                      -168-                                           105376510    

 

   order for relief entered with respect to it or shall commence a voluntary case under any Debtor  Relief Laws now or hereafter in effect, or shall consent to the entry of an order for relief in an  involuntary case, or to the conversion of an involuntary case to a voluntary case, under any such  law, or shall consent to the appointment of or taking possession by a receiver, trustee or other  custodian for all or a substantial part of its property; or Holding, Company, any Aggregatable  Restricted Subsidiaries or any Material Restricted Subsidiary shall make any assignment for the  benefit of creditors; or               (h)   Judgments  and  Attachments.   Any money  judgment,  writ  or  warrant of  attachment or similar process involving in any individual case or in the aggregate at any time an  amount  in  excess  of  $50,000,000  (in  either  case  to  the  extent  not  adequately  covered  by  insurance  as  to  which  a  solvent  and  unaffiliated  insurance  company  has  not  denied coverage)  shall be entered or filed against Company or any of its Restricted Subsidiaries or any of their  respective assets and shall remain undischarged, unvacated, unbonded or unstayed for a period of  sixty (60) days (or in any event later than five (5) days prior to the date of any proposed sale  thereunder); or               (i)   Dissolution.  Any order, judgment or decree shall be entered against any  Aggregatable  Restricted  Subsidiaries  or  any  Material  Restricted  Subsidiary  of  Company  decreeing  the  dissolution  or  split  up  of  such  Aggregatable  Restricted  Subsidiaries  or  Material  Restricted Subsidiary, as the case may be, and such order shall remain undischarged or unstayed  for a period in excess of thirty (30) days; or               (j)   Employee Benefit Plans.  There shall occur one or  more ERISA Events  which individually or in the aggregate results in or could reasonably be expected to result in a  Material Adverse Effect during the term hereof; or               (k)   Change of Control.  A Change of Control shall occur; or               (l)   Failure of Subordination.  (i) Any of the Obligations of the Credit Parties  under  the  Credit  Documents  for  any  reason  shall  cease  to  be  “Senior  Indebtedness”  (or  any  comparable term) or “Senior Secured Financing” (or any comparable term) under, and as defined  in any Permitted Subordinated Indebtedness Documentation or (ii) the subordination provisions  set forth in any Permitted Subordinated Indebtedness Documentation shall, in whole or in part,  cease to be effective or cease to be legally valid, binding and enforceable against the holders of  any Permitted Subordinated Indebtedness, if applicable; or               (m)   Guaranties,  Collateral  Documents  and  other  Credit  Documents.   At  any  time  after  the  execution  and  delivery  thereof,  (i) the  Guaranty  for  any  reason,  other  than  the  satisfaction  in  full  of  all  Obligations,  shall  cease  to  be  in  full  force  and  effect  (other  than  in  accordance  with  its  terms)  or  shall  be  declared  to  be  null  and void  or  any  Guarantor  shall  repudiate its obligations thereunder, (ii) this Agreement or any Collateral Document ceases to be  in full force and effect (other than by reason of a release of Collateral in accordance with the  terms hereof or thereof or the satisfaction in full of the Obligations in accordance with the terms  hereof) or shall be declared null and void, or Collateral Agent shall not have or shall cease to  have a valid and perfected Lien in any portion of the Collateral the aggregate fair market value of  which is in excess of $20,000,000 and purported to be covered and to the extent required by the                                      -169-                                           105376510    

 

     Collateral  Documents  with  the  priority  required  by  the  relevant  Collateral  Document,  in  each   case for any reason other than the failure of Collateral Agent or any Secured Party to take any   action within its control, or (iii) any Credit Party shall contest the validity or enforceability of   any Credit Document in writing or deny in writing that it has any further liability, including with   respect to future advances by Lenders, under any Credit Document to which it is a party;    THEN,  (1) upon  the  occurrence  of  any  Event  of  Default  described  in Section 8.1(f)  or 8.1(g),   automatically, and (2) upon the occurrence and continuance of any other Event of Default, at the   request  of  (or  with  the  consent of)  the  Requisite  Lenders,  upon  notice  to  Company  by   Administrative  Agent,  (A)  the  Revolving  Commitments,  if  any,  of  each  Lender  having  such   Revolving Commitments, the obligation of an Issuing Bank to issue any Letter of Credit shall   immediately terminate; (B) each of the following shall immediately become due and payable, in   each case without presentment, demand, protest or other requirements of any kind, all of which   are  hereby  expressly  waived  by  each  Credit  Party:   (I) the  unpaid principal amount of and   accrued interest on the Loans, (II) an amount equal to the maximum amount that may at any time   be  drawn  under  all  Letters  of  Credit  then  outstanding  (regardless  of  whether  any  beneficiary   under any such Letter of Credit shall have presented, or shall be entitled at such time to present,   the drafts or other documents or certificates required to draw under such Letters of Credit), and   (III) all other Obligations; provided, the foregoing shall not affect in any way the obligations of   Lenders  under  Section 2.3(b)(iv)  or  Section 2.4(c);  (C) Administrative  Agent  may  cause   Collateral Agent to enforce any and all Liens and security interests created pursuant to Collateral   Documents; and (D) Administrative Agent shall direct Company to pay (and Company hereby   agrees  upon  receipt  of  such  notice,  or  upon  the  occurrence  and continuance  of  any  Event  of   Default  specified  in  Section 8.1(f)  or  (g),  to  pay)  to  Administrative  Agent  such  additional   amounts of cash, to be held as security for Company’s reimbursement obligations in respect of   Letters of Credit then outstanding, equal to the L/C Obligation at such time.    SECTION 9.  AGENTS          9.1   Appointment of Agents.  Each of Crédit Agricole, JPMorgan Chase Bank, N.A.,  Citizens Bank, N.A., MUFG Union Bank, N.A. and Sumitomo Mitsui Banking Corporation is  hereby  appointed  as  a  Co-Syndication  Agent,  and  each  Lender  and  Issuing  Bank  hereby  authorizes each Co-Syndication Agent to act as its agents in accordance with the terms hereof  and the other Credit Documents.  TD Bank, N.A., Capital One, National Association, CoBank,  ACB and Compass Bank are hereby appointed as Co-Documentation Agents, and each Lender  and  Issuing  Bank  hereby  authorizes  the  Co-Documentation  Agents to  act  as  its  agent  in  accordance with the terms hereof and the other Credit Documents.  Each of the Lenders and the  Issuing Bank and, by their acceptance of the benefits hereof and the other Credit Documents, the  other  Secured  Parties,  hereby  irrevocably  appoints  Bank  of  America  to  act  on  its  behalf  as  Administrative Agent and Collateral Agent hereunder and under the other Credit Documents and   authorizes Administrative Agent and Collateral Agent, as applicable, to take such actions on its   behalf  and  to  exercise  such  powers  as  are  delegated  to  Administrative  Agent  and  Collateral   Agent, as applicable by the terms hereof or thereof, together with such actions and powers as are   reasonably  incidental  thereto.   The  provisions  of  this  Section 9  are  solely  for  the  benefit  of   Administrative  Agent,  Collateral  Agent,  the  Lenders  and  the  Issuing  Banks,  and  neither   Company nor any other Credit Party shall have rights as a third party beneficiary of any of such   provisions.  It is understood and agreed that the use of the term “agent” herein or in any other                                       -170-                                             105376510     

 

     Credit  Documents  (or  any  other  similar  term)  with  reference  to Administrative  Agent  or   Collateral  Agent,  as  applicable,  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.   Each  Co-Syndication Agent  and  each  Co-   Documentation Agent, without consent of or notice to any party hereto, may assign any and all   of  its  rights  or  obligations  hereunder  to  any  of  its  Affiliates.   As  of  the  Amendment  and   Restatement  Effective  Date,  each  of  Crédit  Agricole,  JPMorgan  Chase  Bank,  N.A.,  Citizens   Bank,  N.A.,  MUFG  Union  Bank,  N.A.  and  Sumitomo  Mitsui  Banking  Corporation,  in  its   capacity  as  Co-Syndication  Agent  and  TD  Bank,  N.A.,  Capital  One,  National  Association,   CoBank, ACB and Compass Bank in its capacity as Co-Documentation Agent, shall not have   any obligations but shall be entitled to all benefits of this Section 9.          9.2  Rights as a Lender.  Any Person serving as an Agent hereunder shall have the   same rights and powers in its capacity as a Lender as any other Lender and may exercise the   same as though it were not an Agent and the term “Lender” or “Lenders” shall, unless otherwise   expressly indicated or unless the context otherwise requires, include any Person serving as an   Agent hereunder in its individual capacity.  Such Person and its Affiliates may accept deposits   from,  lend  money  to,  own  securities  of,  act  as  the  financial  advisor  or  in  any  other  advisory  capacity for and generally engage in any kind of business with the Company or any Subsidiary or  other Affiliate thereof as if such Person were not an Agent hereunder and without any duty to  account therefor to the Lenders.          9.2   Exculpatory Provisions.           (a)   The Administrative Agent shall not have any duties or obligations except those  expressly  set  forth  herein  and  in  the  other  Credit  Documents,  and  its  duties  hereunder  and  thereunder shall be administrative in nature.  Without limiting the generality of the foregoing, the  Administrative Agent:                (i)   shall not be subject to any fiduciary or other implied duties, regardless of        whether a Default or an Event of Default has occurred and is continuing;                (ii)  shall  not  have  any  duty  to  take  any  discretionary  action  or  exercise  any         discretionary  powers,  except  discretionary  rights  and  powers  expressly  contemplated         hereby  or  by  the  other  Credit  Documents  that  the  Administrative Agent is required to         exercise  as  directed  in  writing  by  the  Requisite  Lenders  (or  such  other  number  or         percentage of the Lenders as shall be expressly provided for herein or in the other Credit         Documents);  provided  that  the  Administrative  Agent  shall  not  be  required  to  take  any         action that, in its opinion or the opinion of its counsel, may expose the Administrative         Agent  to  liability  or  that  is  contrary  to  any  Credit  Document  or  Applicable  Law,         including for the avoidance of doubt any action that may be in violation of the automatic         stay  under  any  Debtor  Relief  Law  or  that  may  effect  a  forfeiture,  modification  or         termination of property of a Defaulting Lender in violation of any Debtor Relief Law;         and                                        -171-                                             105376510     

 

                 (iii) shall  not,  except  as  expressly  set  forth  herein  and  in  the  other  Credit        Documents, have any duty to disclose, and shall not be liable for the failure to disclose,        any  information  relating  to  the  Company  or  any  of  their  respective  Affiliates  that  is        communicated to or obtained by the Person serving as the Administrative Agent or any of        its Affiliates in any capacity.          (b)   The Administrative Agent shall not be liable for any action taken or not taken by   it  (i)  with  the  consent  or  at  the  request  of  the  Requisite  Lenders  (or  such  other  number  or   percentage of the Lenders as shall be necessary, or as the Administrative Agent shall believe in   good faith shall be necessary, under the circumstances as provided in Sections 10.5 and 8.2) or   (ii) in the absence of its own gross negligence or willful misconduct, as determined by a court of   competent jurisdiction by a final and nonappealable judgment.  The Administrative Agent shall   be  deemed  not  to  have  knowledge  of  any  Default  or  Event  of  Default unless and until  notice  describing such Default or Event of Default is given in writing to the Administrative Agent by  the Company, a Lender or an Issuing Bank.          (c)   The Administrative Agent shall not  be  responsible  for  or  have  any  duty  to   ascertain or inquire into (i) any statement, warranty or representation made in or in connection   with this Agreement or any other Credit Document, (ii) the contents of any certificate, report or   other  document  delivered  hereunder  or  thereunder  or  in  connection  herewith  or  therewith,   (iii) the  performance  or  observance  of  any  of  the  covenants,  agreements  or  other  terms  or   conditions set forth herein or therein or the occurrence of any Default or Event of Default, (iv)   the  validity,  enforceability,  effectiveness  or  genuineness  of  this  Agreement,  any  other  Credit   Document or any other agreement, instrument or document, or the creation, perfection or priority   of any Lien purported to be created by the Collateral Documents, (v) the value or the sufficiency   of  any  Collateral  or  (vi)  the  satisfaction  of  any  condition  set  forth  in  Section  3  or  elsewhere   herein,  other  than  to  confirm  receipt  of  items  expressly  required to be delivered to the   Administrative Agent.           9.3   Reliance  by  Agents.  Agents shall be entitled to rely upon, and shall not incur   any  liability  for  relying  upon, any  notice,  request,  certificate,  consent,  statement,  instrument,   document or other writing (including any electronic message, Internet or intranet website posting  or  other  distribution)  believed  by it to  be  genuine  and  to  have  been  signed,  sent  or  otherwise  authenticated by the proper Person.  Agents also may rely upon any statement made to it orally  or by telephone and believed by it to have been made by the proper Person, and shall not incur  any liability for relying thereon.  In determining compliance with any condition hereunder to the  making of a Loan, or the issuance, extension, renewal or increase of a Letter of Credit, that by its  terms must be fulfilled to the satisfaction of a Lender or the Issuing Bank, Agents may presume  that such condition is satisfactory to such Lender or the Issuing Bank unless Agents shall have  received notice to the contrary from such Lender or the Issuing Bank prior to the making of such  Loan or the issuance of such Letter of Credit.  Agents may consult with legal counsel (who may  be counsel for Company), independent accountants and other experts selected by it, and shall not  be  liable  for  any  action  taken  or  not  taken  by  it  in  accordance  with  the  advice  of  any  such  counsel, accountants or experts.         9.5    Delegation of Duties.  Each of Administrative Agent and Collateral Agent may  perform  any  and  all  of  its  duties  and  exercise  its  rights  and  powers  under  this  Agreement  or                                       -172-                                             105376510     

 

     under  any  other  Credit  Document  by  or  through  any  one  or  more  sub-agents  appointed  by  it.    Each of Administrative Agent, Collateral Agent and any such sub-agent may perform any and all   of its duties and exercise its rights and powers by or through their respective Related Parties.    The exculpatory, indemnification and other provisions of this Section 9 shall apply to any of the   Related Parties of Administrative Agent or Collateral Agent and shall apply to their respective   activities in connection with the syndication of the credit facilities provided for herein as well as  activities as Administrative Agent or Collateral Agent.  All of the rights, benefits, and privileges  (including the exculpatory and indemnification provisions) of this Section 9 shall apply to any   such sub-agent and to the Affiliates of any such sub-agent, and shall apply to their respective   activities as sub-agent as if such sub-agent and Affiliates were named herein.  Notwithstanding   anything  herein  to  the  contrary,  with  respect  to  each  sub-agent  appointed  by  Administrative   Agent  or  Collateral  Agent,  (i) such  sub-agent  shall  be  a  third party  beneficiary  under  this   Agreement with respect to all such rights, benefits and privileges (including exculpatory rights   and  rights  to  indemnification)  and  shall  have  all  of  the  rights  and  benefits  of  a  third  party   beneficiary,  including  an  independent  right  of  action  to  enforce  such  rights,  benefits  and   privileges  (including  exculpatory  rights  and  rights  to  indemnification)  directly,  without  the  consent or joinder of any other Person, against any or all of the Credit Parties and the Lenders,  (ii) such  rights,  benefits  and  privileges  (including  exculpatory  rights  and  rights  to  indemnification) shall not be modified or amended without the consent of such sub-agent, and  (iii) such sub-agent shall only have obligations to Administrative Agent or Collateral Agent, as  the case maybe, and not to any Credit Party, Lender or any other Person and no Credit Party,  Lender  or  any  other  Person  shall  have  any  rights,  directly  or  indirectly, as a third party  beneficiary or otherwise, against such sub-agent.         9.4   Non-Reliance on Administrative Agent and Other Lenders.  Each Lender and  each  Issuing  Bank  acknowledges  that  it  has,  independently  and  without  reliance  upon  the  Administrative  Agent  or  any  other  Lender  or  any  of  their  Related  Parties  and  based  on  such  documents  and  information  as  it  has  deemed  appropriate,  made  its  own  credit  analysis  and  decision to enter into this Agreement.  Each Lender and each Issuing Bank also acknowledges  that  it  will,  independently  and  without  reliance  upon  the  Administrative  Agent  or  any  other  Lender or any of their Related Parties and based on such documents and information as it shall  from time to time deem appropriate, continue to make its own decisions in taking or not taking  action under or based upon this Agreement, any other Credit Document or any related agreement  or any document furnished hereunder or thereunder.         9.5   Resignation of Administrative Agent.               (a)   Administrative Agent or Collateral Agent may at any time give notice of  its resignation to the Lenders, the Issuing Banks and Company.  Upon receipt of any such notice  of resignation, the Requisite Lenders shall have the right, with the consent of Company (such  consent not to be unreasonably withheld or delayed), to appoint a successor, which shall be a  bank with an office in the United States, or an Affiliate of any such bank with an office in the  United States.  If no such successor shall have been so appointed by the Requisite Lenders and  shall  have  accepted  such  appointment  within  thirty  (30) days  after  the  retiring  Administrative  Agent or the Collateral Agent, as applicable, gives notice of its resignation (or such earlier day as  shall  be  agreed  by  the  Requisite  Lenders  and  Company)  (the  “Resignation  Effective  Date”),  then the retiring Administrative Agent or Collateral Agent, as applicable, may (but shall not be                                       -173-                                             105376510     

 

     obligated to) on behalf of the Lenders and the Issuing Banks, appoint a successor Administrative   Agent or Collateral Agent, as applicable, meeting the qualifications set forth above and accepting   such  appointment,  provided  that  in  no  event  shall  any  successor  Administrative  Agent  or   Collateral Agent be a Defaulting Lender or a Disqualified Lender.  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  or  Collateral  Agent,  as   applicable, is a Defaulting Lender pursuant to clause (d) of the definition thereof, the Requisite   Lenders may, to the extent permitted by applicable law, by notice in writing to Company and   such Person remove such Person as Administrative Agent or Collateral Agent, as applicable, and,   with the consent of Company (such consent not to be unreasonably withheld or delayed), appoint   a successor.  If no such successor shall have been so appointed by the Requisite Lenders and   shall  have  accepted  such  appointment  within  thirty  (30) days  (or  such  earlier  day  as  shall  be   agreed  by  the  Requisite  Lenders  and  Company)  (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 or the Removal Effective  Date  (as  applicable)  (i) the  retiring  or  removed  Administrative  Agent  or  Collateral  Agent,  as  applicable,  shall  be  discharged  from  its  duties  and  obligations  hereunder  and  under  the  other  Credit  Documents  (except  that  in  the  case  of  any  collateral  security  held  by  Administrative  Agent or Collateral Agent, as applicable, on behalf of the Lenders or the Issuing Banks under  any of the Credit Documents, the retiring or removed Administrative Agent or Collateral Agent,  as  applicable,  shall  continue  to hold  such  collateral  security until  such  time  as  a  successor  Administrative  Agent  or  Collateral  Agent,  as  applicable,  is  appointed)  and  (ii) except  for  any  indemnity  payments  or  other  amounts  then  owed  to  the  retiring  or  removed  Administrative  Agent  or  Collateral  Agent,  as  applicable,  all  payments,  communications  and  determinations  provided to be made by, to or through Administrative Agent or Collateral Agent, as applicable,  shall instead be made by or to each Lender and Issuing Banks directly, until such time, if any, as  the  Requisite  Lenders  appoint  a  successor  Administrative  Agent or  Collateral  Agent,  as  applicable,  as  provided  for  above.   Upon  the  acceptance  of  a  successor’s  appointment  as  Administrative Agent or Collateral Agent, as applicable, hereunder, such successor shall succeed  to  and  become  vested  with  all  of  the  rights,  powers,  privileges  and  duties  of  the  retiring  (or  removed)  Administrative  Agent  or  Collateral  Agent,  as  applicable  (other  than  any  rights  to  indemnity payments or other amounts owed to the retiring or removed Administrative Agent or  Collateral  Agent  as  of  the  Resignation  Effective  Date  or  the  Removal  Effective  Date,  as  applicable),  and  the  retiring  or  removed  Administrative  Agent  or  Collateral  Agent  shall  be  discharged from all of its duties and obligations hereunder or under the other Credit Documents  (if not already discharged therefrom as provided above in this Section 9.7(c)).  The fees payable   by Company to a successor Administrative Agent or Collateral Agent, as applicable, shall be the   same as those payable to its predecessor unless otherwise agreed between Company and such   successor.  After the retiring or removed Administrative Agent or Collateral Agent’s resignation   or removal hereunder and under the other Credit Documents, the provisions of this Sections 9,   and Sections 10.2 and 10.3 shall continue in effect for the benefit of such retiring or removed   Administrative  Agent  or  Collateral  Agent,  as  applicable,  its  sub  agents  and  their  respective                                        -174-                                             105376510     

 

     Related Parties in respect of any actions taken or omitted to be taken by any of them (i) while the   retiring  or  removed  Administrative  Agent  or  Collateral  Agent  was  acting  as  Administrative   Agent or Collateral Agent, as applicable, and (ii) after such resignation or removal for as long as   any  of  them  continues to  act  in  any  capacity  hereunder  or under the other Credit Documents,   including (A) acting as collateral agent or otherwise holding any collateral security on behalf of   any of the Lenders and (B) in respect of any actions taken in connection with transferring the   agency to any successor Administrative Agent or Collateral Agent.                (d)   Any resignation or removal by Bank of America as Administrative Agent  pursuant  to  this  Section  shall  also  constitute  its  resignation as  Issuing  Bank  and  Swing  Line  Lender.  If Bank of America resigns as an Issuing Bank, it shall retain all the rights, powers,  privileges  and  duties  of  an  Issuing  Bank  hereunder  with  respect  to  all  Letters  of  Credit   outstanding as of the effective date of its resignation as Issuing Bank and all obligations with   respect thereto, including the right to require the Lenders to make Base Rate Loans or fund risk   participations in Unreimbursed Amounts pursuant to Section 2.4(d).  If Bank of America resigns   as  Swing  Line  Lender,  it  shall  retain all the rights of the Swing  Line  Lender  provided  for   hereunder with respect to Swing Line Loans made by it and outstanding as of the effective date   of such resignation, including the right to require the Lenders to make Base Rate Loans or fund   risk  participations  in  outstanding  Swing  Line  Loans  pursuant  to  Section 2.3(b).   Upon  the   appointment by Company of a successor Issuing Bank or Swing Line Lender hereunder (which   successor  shall  in  all  cases  be  a  Lender  (other  than  a  Defaulting  Lender)  accepting  such   appointment),  (i) such  successor  shall  succeed  to  and  become  vested with all of the rights,   powers, privileges and duties of the retiring Issuing Bank or Swing Line Lender, as applicable,   (ii) the  retiring  Issuing  Bank  and  Swing  Line  Lender  shall  be  discharged  from  all  of  their   respective duties and obligations hereunder or under the other Credit Documents, and (iii) the   successor Issuing Bank shall issue letters of credit in substitution for the Letters of Credit, if any,   outstanding at the time of such succession or make other arrangements satisfactory to Bank of   America to effectively assume the obligations of Bank of America with respect to such Letters of   Credit.          9.6   No Other Duties, Etc.  Anything herein to the contrary notwithstanding, none of   Lead Arrangers, the Co-Syndication Agents, or the Co-Documentation Agents listed on the cover   page hereof shall have any powers, duties or responsibilities under this Agreement or any of the   other Credit Documents, except in its capacity, as applicable, as Administrative Agent, a Lender   or an Issuing Bank hereunder.           9.7   Administrative Agent May File Proofs of Claim; Credit Bidding.  In case of   the pendency of any proceeding under any Debtor Relief Law or any other judicial proceeding   relative to any Credit Party, the Administrative Agent (irrespective of whether the principal of   any Loan or L/C Obligation shall then be due and payable as herein expressed or by declaration   or otherwise and irrespective of whether the Administrative Agent shall have made any demand   on  the  Company)  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                                       -175-                                             105376510     

 

     claims of the Lenders, the Issuing Banks and the Administrative Agent (including any claim for   the reasonable compensation, expenses, disbursements and advances of the Lenders, the Issuing   Banks  and  the  Administrative  Agent  and  their  respective  agents and  counsel  and  all  other   amounts due the Lenders, the Issuing Banks and the Administrative Agent under Sections 2.11,   10.2 and 10.3) 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 Issuing Bank to make   such payments to the Administrative Agent and, if the Administrative Agent shall consent to the   making  of  such  payments  directly  to  the  Lenders  and  the  Issuing  Banks,  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 2.11 , 10.2 and 10.3.          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 any Issuing Bank any plan   of reorganization, arrangement, adjustment or composition affecting the Obligations or the rights   of any Lender or any Issuing Bank to authorize the Administrative Agent to vote in respect of the   claim of any Lender or any Issuing Bank in any such proceeding.          The  Secured  Parties  hereby  irrevocably  authorize  the  Administrative  Agent,  at  the   direction of the Requisite Lenders, to credit bid all or any portion of the Obligations (including   accepting some or all of the Collateral in satisfaction of some or all of the Obligations pursuant   to  a  deed  in  lieu  of  foreclosure  or  otherwise)  and  in  such  manner  purchase  (either directly  or   through  one  or  more  acquisition  vehicles)  all  or  any  portion  of  the  Collateral  (a)  at  any  sale   thereof conducted under the provisions of the Bankruptcy Code of the United States, including   under Sections 363, 1123 or 1129 of the Bankruptcy Code of the United States, or any similar   laws  in  any  other  jurisdictions  to  which  a  Credit  Party  is  subject,  (b)  at  any  other  sale  or   foreclosure or acceptance of collateral in lieu of debt conducted by (or with the consent or at the   direction of) the Administrative Agent (whether by judicial action or otherwise) in accordance   with any applicable law.  In connection with any such credit bid and purchase, the Obligations   owed  to  the  Secured  Parties  shall be entitled to be, and shall be, credit bid on a ratable basis   (with Obligations with respect to contingent or unliquidated claims receiving contingent interests  in the acquired assets on a ratable basis that would vest upon the liquidation of such claims in an  amount proportional to the liquidated portion of the contingent claim amount used in allocating  the  contingent  interests)  in  the  asset  or  assets  so  purchased  (or  in  the  equity  interests  or  debt  instruments of the acquisition vehicle or vehicles that are used to consummate such purchase).   In connection with any such bid (i) the Administrative Agent shall be authorized to form one or  more acquisition vehicles to make a bid, (ii) to adopt documents providing for the governance of  the  acquisition  vehicle  or  vehicles  (provided  that  any  actions by  Administrative  Agent  with   respect to such acquisition vehicle or vehicles, including any disposition of the assets or equity   interests thereof shall be governed, directly or indirectly, by the vote of the Requisite Lenders,   irrespective of the termination of this Agreement and without giving effect to the limitations on   actions  by  the  Requisite  Lenders  contained  in  Section  10.5  of  this  Agreement),  (iii)  the                                       -176-                                             105376510     

 

     Administrative  Agent  shall  be  authorized  to  assign  the  relevant  Obligations  to  any  such   acquisition  vehicle  pro  rata  by  the  Secured  Parties,  as  a  result  of  which  each  of  the  Secured   Parties shall be deemed to have received a pro rata portion of any equity interests and/or debt   instruments  issued  by  such  an  acquisition  vehicle  on  account  of  the  assignment  of  the   Obligations to be credit bid, all without the need for any Secured Party or acquisition vehicle to   take any further action, and (iv) to the extent that Obligations that are assigned to an acquisition   vehicle are not used to acquire Collateral for any reason (as a result of another bid being higher   or  better,  because  the  amount  of  Obligations  assigned  to  the  acquisition  vehicle  exceeds  the   amount  of  debt  credit  bid  by  the  acquisition  vehicle  or  otherwise),  such  Obligations  shall   automatically be reassigned to the Secured Parties pro rata and the equity interests and/or debt   instruments  issued  by  any  acquisition  vehicle  on  account  of  the  Obligations  that  had  been   assigned  to  the  acquisition  vehicle  shall  automatically  be  cancelled,  without  the  need  for  any   Secured Party or any acquisition vehicle to take any further action.          9.8   Collateral  and  Guaranty  Matters.   Without  limiting  the  provision  of  Section   9.09,  the  Lenders  (including  in  its  capacities  as  a  potential  Cash  Management  Bank  and  a   potential Hedge Bank) and the Issuing Banks irrevocably authorize the Administrative Agent, at   its option and in its discretion,                (a)   to  release  any  Lien  on  any  property  granted  to  or  held  by  the   Administrative  Agent  under  any  Credit  Document  (i)  upon  the  occurrence  of  the  Termination   Date, (ii) that is sold or otherwise disposed of or to be sold or otherwise disposed of as part of or   in connection with any sale or other disposition permitted hereunder or under any other Credit   Document  to  a  Person  that  is  not  a  Credit  Party,  (iii)  upon  the  release  of  any  Guarantor   Subsidiary as contemplated by clause (b) below, if such property is owned by such Guarantor   Subsidiary or (iv) if approved, authorized or ratified in writing in accordance with Section 10.5;                 (b)   to release any Guarantor Subsidiary from its obligations under the Credit  Documents to which it is a party if such Person ceases to be a Restricted Subsidiary as a result of  a  transaction  permitted  under  the  Credit  Documents  or  is  designated as an Unrestricted  Subsidiary pursuant to and in accordance with Section 5.14; and                (c)   to  subordinate  any  Lien  on  any  property  granted  to  or  held  by  the   Administrative Agent under any Credit Document to the holder of any Lien on such property that   is permitted by Section 6.2(n).          Upon  request  by  the  Administrative  Agent  at  any  time,  the  Requisite  Lenders  will   confirm in writing the Administrative Agent’s authority to release or subordinate its interest in   particular types or items of property, or to release any Guarantor Subsidiary from its obligations   under the Credit Documents to which it is a party pursuant to this Section 9.  In each case as   specified in this Section 9, the Administrative Agent will, at the Company’s expense, execute   and deliver to the applicable Credit Party such documents as such Credit Party may reasonably   request  to  evidence  the  release  of  such  item  of  Collateral  from  the  assignment  and  security   interest granted under the Collateral Documents or to subordinate its interest in such item, or to   release such Guarantor Subsidiary from its obligations under the Credit Documents to which it is   a party, in each case in accordance with the terms of the Credit Documents and this Section 9.                                        -177-                                             105376510     

 

           9.9   Permitted Cash Management Agreements, Permitted Hedge Agreements and  Permitted Letters of Credit.  No Lender Counterparty that obtains the benefits of Section 7.2 of   the  Pledge  and  Security  Agreement,  any  Credit  Document  or  any  Collateral  by  virtue  of  the   provisions hereof or of any Credit Document or any Collateral Document shall have any right to   notice of any action or to consent to, direct or object to any action hereunder or under any other   Credit Document or otherwise in respect of the Collateral (including the release or impairment of   any  Collateral)  other  than  in  its  capacity  as  a  Lender  and,  in such  case,  only  to  the  extent   expressly  provided  in  the  Credit  Documents.   Notwithstanding  any  other  provision  of  this   Section 9 to the contrary, the Administrative Agent shall not be required to verify the payment   of, or that other satisfactory arrangements have been made with respect to, Obligations arising   under  Permitted  Cash  Management  Agreements,  Permitted  Hedge  Agreements  or  Permitted   Letters  of  Credit  unless  the  Administrative  Agent  has  received written  notice  of  such   Obligations,  together  with  such  supporting  documentation  as  the  Administrative  Agent  may   request, from the applicable Lender Counterparty.          9.10  Certain ERISA Matters.                  (a)   Each Lender (x) represents and warrants, as of the date such Person   became a Lender party hereto, to, and (y) covenants, from the date such Person became a Lender   party hereto to the date such Person ceases being a Lender party hereto, for the benefit of, the   Administrative Agent and each Lead Arranger and their respective  Affiliates,  and  not,  for  the   avoidance of doubt, to or for the benefit of Company or any other Credit Party, that at least one   of the following is and will be true:                       (i)   such Lender is not using “plan assets” (within the meaning of 29         CFR § 2510.3-101, as modified by Section 3(42) of ERISA) of one or more Benefit Plans         in connection with the Loans, the Letters of Credit or the Commitments,                      (ii)  the transaction exemption set forth in one or more PTEs, such as         PTE  84-14  (a  class  exemption  for  certain  transactions  determined  by  independent         qualified  professional  asset  managers),  PTE  95-60  (a  class  exemption  for  certain         transactions  involving  insurance  company  general  accounts),  PTE  90-1  (a  class         exemption  for  certain  transactions  involving  insurance  company pooled  separate         accounts),  PTE  91-38  (a  class  exemption  for  certain  transactions  involving  bank         collective  investment  funds)  or  PTE  96-23  (a  class  exemption  for  certain  transactions         determined  by  in-house  asset  managers),  is  applicable  with  respect  to  such  Lender’s         entrance  into,  participation  in,  administration  of  and  performance  of  the  Loans,  the         Letters of Credit, the Commitments and this Agreement,                      (iii) (A)  such  Lender  is  an  investment  fund  managed  by  a  “Qualified         Professional  Asset  Manager”  (within  the  meaning  of  Part  VI  of  PTE  84-14),  (B)  such         Qualified  Professional Asset  Manager  made  the  investment  decision  on  behalf  of  such         Lender  to  enter  into,  participate  in,  administer  and  perform  the Loans, the Letters of         Credit,  the  Commitments  and  this  Agreement,  (C)  the  entrance  into,  participation  in,         administration of and performance of the Loans, the Letters of Credit, the Commitments         and this Agreement satisfies the requirements of sub-sections (b) through (g) of Part I of         PTE 84-14 and (D) to the best knowledge of such Lender, the requirements of subsection                                       -178-                                             105376510     

 

         (a)  of   Part  I  of  PTE  84-14  are  satisfied  with  respect  to  such Lender’s  entrance  into,        participation in, administration of and performance of the Loans, the Letters of Credit, the        Commitments and this Agreement, or                      (iv)  such other representation, warranty and covenant as may be agreed        in writing between the Administrative Agent, in its sole discretion, and such Lender.                (b)   In addition, unless sub-clause (i) in the immediately preceding clause (a) is  true with respect to a Lender or such Lender has not provided another representation, warranty  and covenant as provided in sub-clause (iv) in the immediately preceding clause (a), such Lender  further (x) represents and warrants, as of the date such Person became a Lender party hereto, to,  and  (y)  covenants,  from  the  date  such  Person  became  a  Lender  party  hereto  to  the  date  such  Person ceases being a Lender party hereto, for the benefit of, the Administrative Agent and each  Lead Arranger and their respective Affiliates, and not, for the avoidance of doubt, to or for the  benefit of Company or any other Credit Party, that:                      (i)   none of the Administrative Agent or any Lead Arranger or any of        their  respective  Affiliates  is  a  fiduciary  with  respect  to  the assets  of  such  Lender        (including  in  connection  with  the  reservation  or  exercise  of  any  rights  by  the        Administrative  Agent  under  this  Agreement,  any  Credit  Document or  any  documents        related to hereto or thereto),                     (ii)  the  Person  making  the  investment  decision  on  behalf  of  such        Lender  with  respect  to  the  entrance  into,  participation  in,  administration  of  and        performance of the Loans, the Letters of Credit, the Commitments and this Agreement is        independent  (within  the  meaning  of  29  CFR  §  2510.3-21)  and  is  a  bank,  an  insurance        carrier, an investment adviser, a broker-dealer or other person  that  holds,  or  has  under        management or control, total assets of at least $50 million, in each case as described in 29        CFR § 2510.3-21(c)(1)(i)(A)-(E),                      (iii) the  Person  making  the  investment  decision  on  behalf  of  such        Lender  with  respect  to  the  entrance  into,  participation  in,  administration  of  and        performance of the Loans, the Letters of Credit, the Commitments and this Agreement is        capable of evaluating investment risks independently, both in general and with regard to        particular transactions and investment strategies, (including in respect of the Obligations),                     (iv)  the  Person  making  the  investment  decision  on  behalf  of  such        Lender  with  respect  to  the  entrance  into,  participation  in,  administration  of  and        performance of the Loans, the Letters of Credit, the Commitments and this Agreement is        a fiduciary under ERISA or the Code, or both, with respect to the Loans, the Letters of        Credit,  the  Commitments  and  this  Agreement  and  is  responsible  for  exercising        independent judgment in evaluating the transactions hereunder, and                     (v)   no  fee  or  other  compensation  is  being  paid  directly  to  the        Administrative  Agent  or  any  Lead  Arranger  or  any  their  respective  Affiliates  for        investment advice (as opposed to other services) in connection with the Loans, the Letters       of Credit, the Commitments or this Agreement.                                      -179-                                           105376510    

 

               (c)   The  Administrative  Agent  and  each  Lead  Arranger  hereby  informs the  Lenders that each such Person is not undertaking to provide impartial investment advice, or to  give advice in a fiduciary capacity, in connection with the transactions contemplated hereby, and  that  such  Person  has  a  financial  interest  in  the  transactions  contemplated  hereby  in  that  such  Person  or  an  Affiliate  thereof  (i)  may  receive  interest  or  other  payments  with  respect  to  the  Loans, the Letters of Credit, the Commitments and this Agreement, (ii) may recognize a gain if it  extended  the  Loans,  the  Letters  of  Credit  or  the  Commitments  for  an  amount  less  than  the  amount being paid for an interest in the Loans, the Letters of Credit or the Commitments by such  Lender  or  (iii)  may  receive  fees  or  other  payments  in  connection  with  the  transactions  contemplated  hereby,  the  Credit  Documents  or  otherwise,  including  structuring  fees,  commitment fees, arrangement fees, facility fees, upfront fees, underwriting fees, ticking fees,  agency fees, administrative agent or collateral agent fees, utilization fees, minimum usage fees,  letter  of  credit  fees,  fronting  fees,  deal-away  or  alternate  transaction  fees,  amendment  fees,  processing  fees,  term  out  premiums,  banker’s  acceptance  fees,  breakage  or  other  early  termination fees or fees similar to the foregoing.   SECTION 10.       MISCELLANEOUS         10.1  Notices.               (a)   Generally.   Except  in  the  case  of  notices  and  other  communications  expressly permitted to be given by telephone (and except as provided in subsection (b) below),  all  notices  and  other  communications  provided  for  herein  shall be  in  writing  and  shall  be  delivered by hand or overnight courier service, mailed by certified or registered mail or sent by  facsimile as follows, and all notices and other communications expressly permitted hereunder to  be given by telephone shall be made to the applicable telephone number, as follows:                     (i)   if to Company or any other Credit Party, Administrative Agent, the        Issuing  Banks  or  the  Swing  Line  Lender,  to  the  address,  facsimile  number,  electronic        mail address or telephone number specified for such Person on Appendix C; and                      (ii)  if to any other Lender, to the address, facsimile number, electronic        mail address or telephone number specified in its administrative questionnaire (including,        as  appropriate,  notices  delivered  solely  to  the  Person  designated  by  a  Lender  on  its        administrative  questionnaire then  in  effect  for  the  delivery  of  notices  that  may  contain        material non-public information relating to Company).               Notices and other communications sent by hand or overnight courier service, or  mailed by certified or registered mail, shall be deemed to have been given when received or five  (5) Business Days after depositing it in the United States mail with postage prepaid and properly  addressed;  notices  and  other  communications  sent  by  facsimile  shall  be  deemed  to  have  been  given when sent (except that, if not given during normal business hours for the recipient, shall be  deemed to have been given at the opening of business on the next Business Day for the recipient).   Notices  and  other  communications  delivered  through  electronic  communications  to  the  extent  provided in subsection (b) below, shall be effective as provided in such subsection (b).                                        -180-                                           105376510    

 

               (b)   Electronic  Communications.   Notices  and  other  communications  to  the  Lenders  and  the  Issuing  Banks  hereunder  may  be  delivered  or  furnished  by  electronic  communication (including e-mail, FpML messaging, and Internet or intranet websites) pursuant  to  procedures  approved  by  Administrative  Agent  and  the  Issuing Banks,  provided  that  the  foregoing shall not apply to notices to any Lender or the Issuing Banks pursuant to Section 2 if  such  Lender  or  the  Issuing  Banks,  as  applicable,  has  notified  Administrative  Agent  that  it  is  incapable of receiving notices under such Section by electronic communication.  Administrative  Agent, the Swing Line Lender, any Issuing Bank or Company may, in its discretion, agree to  accept notices and other communications to it hereunder by electronic communications pursuant  to  procedures  approved  by  it,  provided  that  approval  of  such  procedures  may  be  limited  to  particular  notices  or  communications.   Unless  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), if such notice, e-mail or  other communication is not sent during the normal business hours of the recipient, such notice, e- mail or communication shall be deemed to have been sent at the opening of business on the next  Business Day for the recipient.               (c)   The  Platform.   THE  PLATFORM IS  PROVIDED  “AS  IS”  AND  “AS  AVAILABLE.”  THE AGENT PARTIES (AS DEFINED BELOW) DO NOT WARRANT THE  ACCURACY  OR  COMPLETENESS  OF  COMPANY  MATERIALS  OR  THE  ADEQUACY  OF  THE  PLATFORM,  AND  EXPRESSLY  DISCLAIM  LIABILITY  FOR  ERRORS  IN OR  OMISSIONS  FROM  COMPANY  MATERIALS.   NO  WARRANTY  OF  ANY  KIND,  EXPRESS,  IMPLIED  OR  STATUTORY,  INCLUDING  ANY  WARRANTY  OF  MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NON-INFRINGEMENT  OF  THIRD  PARTY  RIGHTS  OR  FREEDOM  FROM  VIRUSES  OR  OTHER  CODE  DEFECTS,  IS  MADE  BY  ANY  AGENT  PARTY  IN  CONNECTION  WITH  COMPANY  MATERIALS  OR  THE  PLATFORM.   In  no  event  shall  Administrative  Agent  or  any  of  its  Related Parties (collectively, the “Agent Parties”) have any liability to Company, any Lender,  any Issuing Bank or any other Person for losses, claims, damages, liabilities or expenses of any  kind  (whether  in  tort,  contract  or  otherwise)  arising  out  of  Company’s,  any  Credit  Party’s  or  Administrative Agent’s transmission of Company Materials or notices through the Platform, any  other electronic platform or electronic messaging service, or through the Internet except to the  extent such Agent Parties are found by a final, non-appealable judgment of a court to arise from  the gross negligence, bad faith or willful misconduct of such Agent Party.               (d)   Change  of  Address,  Etc.   Each  of Company,  Administrative  Agent,  the  Issuing Banks and the Swing Line Lender may change its address, facsimile or telephone number  for notices and other communications hereunder by notice to the other parties hereto.  Each other  Lender  may  change  its  address,  facsimile  or  telephone  number  for  notices  and  other  communications hereunder by notice to Company, Administrative Agent, the Issuing Banks and  the Swing Line Lender.  In addition, each Lender agrees to notify Administrative Agent from                                       -181-                                           105376510    

 

     time to time to ensure that Administrative Agent has on record (i) an effective address, contact   name,  telephone  number,  facsimile  number  and  electronic  mail  address  to  which  notices  and   other  communications  may  be  sent  and  (ii) accurate  wire  instructions  for  such  Lender.    Furthermore, each Public Lender agrees to cause at least one individual at or on behalf of such   Public Lender to at all times have selected the “Private Side Information” or similar designation   on the content declaration screen of the Platform in order to enable such Public Lender or its   delegate, in accordance with such Public Lender’s compliance procedures and applicable law,   including  United  States  Federal  and  state  securities  laws,  to  make  reference  to  Company   Materials  that  are  not  made  available  through  the  “Public  Side Information”  portion  of  the   Platform and that may contain material non-public information with respect to Company or its   securities for purposes of United States Federal or state securities laws.                (e)   Reliance  by  Administrative  Agent,  Issuing  Bank  and  Lenders.    Administrative Agent, the Issuing Bank and the Lenders shall be entitled to rely and act upon   any notices (including telephonic or electronic Funding Notices or Letter of Credit Applications)   purportedly  given  by  or  on  behalf  of  Company  even  if  (i) such  notices  were  not  made  in  a   manner specified herein, were incomplete or were not preceded or followed by any other form of   notice specified herein, or (ii) the terms thereof, as understood by the recipient, varied from any   confirmation  thereof.   All  telephonic  notices  to  and  other  telephonic  communications  with   Administrative Agent may be recorded by Administrative Agent, and each of the parties hereto   hereby consents to such recording.          10.2  Expenses.   Whether  or  not  the  transactions  contemplated  hereby  shall  be   consummated, Company agrees to pay promptly upon demand (a) all the actual and reasonable   costs  and  expenses  incurred  by  each  Agent  of  preparation  of  the  Credit  Documents  and  any   consents, amendments, waivers or other modifications thereto; (b) all the costs of furnishing all   opinions by counsel for Company and the other Credit Parties; (c) the reasonable fees, expenses   and disbursements of one counsel to Administrative Agent and Collateral Agent, in connection   with the negotiation, preparation, execution and administration of the Credit Documents and any   consents,  amendments,  waivers  or  other  modifications  thereto  and  any  other  documents  or   matters requested by Company; (d) all the actual costs and reasonable expenses of creating and   perfecting Liens in favor of Collateral Agent, for the benefit of Secured Parties, including filing   and recording fees, expenses and taxes, stamp or documentary taxes, search fees, title insurance   premiums  and  reasonable  fees,  expenses  and  disbursements  of  one  counsel  to  Administrative   Agent  and  Collateral  Agent;  (e) all  the  actual  costs  and  reasonable  fees,  expenses  and   disbursements  of  any  auditors,  accountants,  consultants  or  appraisers  (prior  to  any  Default  or   Event of Default subject to the consent of Company); (f) all other actual and reasonable costs and  expenses (other than counsel’s fees) incurred by each Agent in connection with the syndication  of  the  Loans  and  Commitments;  (g) all  reasonable out-of-pocket expenses  incurred  by  any  Issuing Bank in connection with the issuance, amendment, renewal or extension of any Letter of  Credit or any demand for payment thereunder and (h) after the occurrence of an Event of Default  and during its continuance, all costs and out-of-pocket expenses, including reasonable attorneys’   fees of a single counsel to the Agents and the Lenders taken as a whole (and in the case of a   conflict of interest, one additional counsel for the affected Agents or Lenders, taken as a whole),   provided that the Agents and the Lenders taken as a whole may engage one local counsel in each   jurisdiction where any action to realize upon any part of the Collateral is necessary, and costs of                                        -182-                                             105376510     

 

     settlement, incurred by Administrative Agent and Collateral Agent and any Lender in enforcing   any Obligations of or in collecting any payments due from any Credit Party hereunder or under   the other Credit Documents by reason of such Event of Default (including in connection with the   sale of, collection from, or other realization upon any of the Collateral or the enforcement of the   Guaranty)  or  in  connection  with  any  negotiations,  refinancing  or  restructuring  of  the  credit   arrangements provided hereunder in the nature of a “work-out” or pursuant to any insolvency or   bankruptcy cases or proceedings.  The agreements in this Section 10.2 shall survive repayment of   the Loans and all other amounts payable hereunder.          10.3  Indemnity.                (a)   In addition to the payment of expenses pursuant to Section 10.2, whether   or not the transactions contemplated hereby shall be consummated, each Credit Party agrees to   defend (subject to Indemnitees’ selection of a single counsel to the Indemnitees taken as a whole   (and, in the case of a conflict of interest, one additional counsel for the affected Indemnitees,   taken  as  a  whole)),  indemnify,  pay  promptly  upon  demand  and  hold  harmless,  each  Agent,   Lender and Issuing Bank and their Related Parties (each, an “Indemnitee”), from and against   any and all Indemnified Liabilities; provided, no Credit Party shall have any obligation to any   Indemnitee  hereunder  with  respect  to  any  Indemnified  Liabilities  to  the  extent  (i) such   Indemnified Liabilities are found by a final, non-appealable judgment of a court to arise from the   gross  negligence,  bad  faith  or  willful  misconduct  of  that  Indemnitee,  (ii)  such  Indemnified   Liabilities are found by a final, non-appealable judgment of a court to arise out of a breach in bad   faith of any obligation of such Indemnitee under this Agreement and the other Credit Documents,   including but not limited to the wrongful dishonor by an Issuing Bank of a proper demand for  payment made under any Letter of Credit issued by it or (iii) such Indemnified Liabilities arise  out of any  dispute solely among Indemnitees (other than claims against any Indemnitee in its  capacity  or  in  fulfilling  its  role  as  Agent  and  the  other  Credit  Documents  and  other  than  any  claims involving any act or omission on the part of Holding, Company or its Subsidiaries).  To  the  extent  that  the  undertakings  to  defend,  indemnify,  pay  and hold  harmless  set  forth  in  this  Section 10.3 may be unenforceable in whole or in part because they are violative of any law or   public  policy,  the  applicable  Credit  Party  shall  contribute  the  maximum  portion  that  it  is   permitted  to  pay  and  satisfy  under  applicable  law  to  the  payment  and  satisfaction  of  all   Indemnified Liabilities incurred by Indemnitees or any of them.  Without limiting the provisions   of Section 2.20(d), this Section 10.3(a) shall not apply with respect to Taxes other than Taxes   that represent losses, claims, damaged, etc. arising from any non-Tax claim.               (b)   To the extent that Company for any reason fails to indefeasibly pay any  amount required under Sections 10.2 and 10.3(a) to be paid by it to Administrative Agent (or any   sub-agent thereof), the Issuing Banks, the Swing Line Lender or any Related Party of any of the  foregoing, each Lender severally agrees to pay to Administrative Agent (or any such sub-agent),  the  Issuing  Banks,  the  Swing  Line  Lender  or  such  Related  Party,  as  the  case  may  be,  such  Lender’s Pro Rata Share of such unpaid amount (including any such unpaid amount in respect of  a claim asserted by such Lender); provided that the unreimbursed expense or indemnified loss,   claim,  damage,  liability  or  related  expense,  as  the  case  may  be,  was  incurred  by  or  asserted   against  Administrative  Agent  (or any  such  sub-agent),  the  Issuing  Banks  or  the  Swing  Line   Lender in its respective capacity as such, or against any Related Party of any of the foregoing   acting for Administrative Agent (or any such sub-agent), the Issuing Banks or the Swing Line                                       -183-                                             105376510     

 

   Lender in connection with such capacity.  The obligations of the Lenders under this subsection  (b) are subject to the provisions of Section 2.16.               (c)   To the extent permitted by applicable law, no Credit Party shall assert, and  each Credit Party hereby waives, any claim against any Indemnitee, on any theory of liability, for  special,  indirect,  consequential  or  punitive  damages  (as  opposed  to  direct  or  actual  damages)  (whether or not the claim therefor is based on contract, tort or duty imposed by any applicable  legal requirement) arising out of, in connection with, arising out of, as a result of, or in any way  related to, this Agreement or any Credit Document or any agreement or instrument contemplated  hereby  or  thereby  or  referred  to  herein  or  therein,  the  transactions  contemplated  hereby  or  thereby, any Loan or the use of the proceeds thereof or any act or omission or event occurring in  connection therewith, and each Credit Party hereby waives, releases and agrees not to sue upon  any  such  claim  or  any  such  damages,  whether  or  not  accrued  and whether  or  not  known  or  suspected to exist in its favor.  No Indemnitee above shall be liable for any damages arising from  the  use  by  unintended  recipients  of  any  information  or  other  materials  distributed  to  such  unintended  recipients  by  such  Indemnitee  through  telecommunications,  electronic  or  other  information  transmission  systems  in  connection  with  this  Agreement  or  the  other  Credit  Documents  or  the  transactions  contemplated  hereby  or  thereby  other  than  for  direct  or  actual  damages resulting from the gross negligence, bad faith or willful misconduct of such Indemnitee  as determined by a final and nonappealable judgment of a court of competent jurisdiction.               (d)   To the extent permitted by applicable law, no Indemnitee shall assert, and  each  Indemnitee  hereby  waives,  any  claim  against  the  Credit  Parties  and  their  respective  Subsidiaries and Affiliates, directors, employees, attorneys, agents or sub-agents, on any theory  of  liability,  for  special,  indirect,  consequential  or  punitive  damages  (as  opposed  to  direct  or  actual damages) (whether or not the claim therefor is based on contract, tort or duty imposed by  any applicable legal requirement) arising out of, in connection with, arising out of, as a result of,  or in any way related to, this Agreement or any Credit Document or any agreement or instrument  contemplated hereby or thereby or referred to herein or therein,  the  transactions  contemplated  hereby or thereby, any Loan or the use of the proceeds thereof or any act or omission or event  occurring in connection therewith, and each Indemnitee hereby waives, releases and agrees not  to sue upon any such claim or any such damages, whether or not accrued and whether or not  known or suspected to exist in its favor; provided that nothing contained in this sentence shall  limit  the  Credit  Parties’  indemnity  obligations under  the  Credit  Documents  to  the  extent  such  special,  indirect,  consequential  or  punitive  damages  are  included  in  any  third  party  claim  in  connection with which such Indemnitee is entitled to indemnification hereunder.                The  agreements  in  this  Section 10.3  shall  survive  the  resignation  of  Administrative  Agent,  any  Issuing  Bank  and  the  Swing  Line  Lender,  the  replacement  of  any  Lender, the termination of Commitments and the repayment of the Loans and all other amounts  payable hereunder.         10.4  Set-Off.  In addition to any rights now or hereafter granted under applicable law  and not by way of limitation of any such rights, upon the occurrence and during the continuance  of any Event of Default each Lender and each Issuing Bank is hereby authorized by each Credit  Party  at  any  time  or  from  time  to  time  subject  to  the  consent  of  Administrative  Agent  (such  consent not to be unreasonably withheld or delayed), without notice to any Credit Party or to any                                      -184-                                           105376510    

 

   other Person (other than Administrative Agent), any such notice being hereby expressly waived,  to  set  off  and  to  appropriate  and  to  apply  any  and  all  deposits  (general  or  special,  including  Indebtedness  evidenced  by  certificates  of  deposit,  whether  matured  or  unmatured,  but  not  including trust accounts) and any other Indebtedness at any time held or owing by such Lender  or such Issuing Bank to or for the credit or the account of any Credit Party (other than Holding)  against and on account of the obligations and liabilities of any Credit Party to such Lender or  such Issuing Bank hereunder, the Letters of Credit and participations therein and under the other  Credit Documents, including all claims of any nature or description arising out of or connected  hereto,  the  Letters  of  Credit  and  participations  therein  or  with  any  other  Credit  Document,  irrespective of whether or not (a) such Lender shall have made any demand hereunder or (b) the  principal of or the interest on the Loans or any amounts in respect of the Letters of Credit or any  other  amounts  due  hereunder  shall  have  become  due  and  payable  pursuant  to  Section 2  and  although  such  obligations  and  liabilities,  or  any  of  them,  may be  contingent  or  unmatured;  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  Administrative  Agent  for  further  application  in  accordance  with  the  provisions  of  Sections 2.17 and 2.22  and,  pending  such  payment, shall be segregated by such Defaulting Lender from its other funds and deemed held in  trust  for  the  benefit  of  Administrative  Agent,  Issuing  Banks,  and  Lenders,  and  (y) Defaulting  Lender  shall  provide  promptly  to  Administrative  Agent  a  statement  describing  in  reasonable  detail the Obligations owing to such Defaulting Lender as to which it exercised such right of  setoff.  The rights of each Lender, each Issuing Bank and their respective Affiliates under this  Section 10.4 are in addition to other rights and remedies (including other rights of setoff) that  such Lender, such Issuing Bank or their respective Affiliates may have.         10.5  Amendments and Waivers.               (a)   Requisite  Lenders’  Consent.   Subject  to  Section 10.5(b)  and 10.5(c),  no  amendment, modification, termination or waiver of any provision of the Credit Documents, or  consent to any departure by any Credit Party therefrom, shall in any event be effective without  the  written  concurrence  of  the  Requisite  Lenders;  provided  that  any  term  of  the  Credit  Documents may be amended or waived by Company and Administrative Agent (or if applicable,  Collateral Agent) without the consent of any other party if that amendment or waiver is (i) to  cure defects or omissions, resolve ambiguities or inconsistencies or reflect changes of a minor,  technical or administrative nature in any Credit Document (in the reasonable determination of  the  Administrative  Agent  and  Company);  or  (ii)  otherwise  for  the  benefit  of  all  or  any  of  the  Secured Parties (in the reasonable determination of the Administrative Agent and Company).              (b)   Affected Lenders’ Consent.  Without the written consent of each Lender  (other  than  a  Defaulting  Lender)  that  would  be  directly  affected  thereby,  no  amendment,  modification, termination, or consent shall be effective if the effect thereof would:                     (i)   except  as  permitted  by  Section 2.25,  extend  the  scheduled  final        maturity of any Loan or Note of such Lender;                     (ii)  waive,  reduce  or  postpone  any  scheduled  repayment  of  principal        on the Term Loans under Section 2.12 due such Lender (but not prepayment);                                       -185-                                           105376510    

 

                     (iii) reduce the rate of interest on any Loan of such Lender (other than        any  waiver  of  any  increase  in  the  interest  rate  applicable  to  any  Loan  pursuant  to        Section 2.10) or any fee or other payment obligations payable hereunder to such Lender;        provided that any amendment or other modification of any financial covenant definition        in this Agreement shall not constitute a reduction in the rate of interest for the purpose of        this clause (iii);                     (iv)  extend the time for payment of any such interest or fees payable to        such Lender under this Agreement (it being understood that the waiver of any mandatory        prepayment shall not constitute an extension of any time for payment of interest or fees);                     (v)   reduce  the  principal  amount  of  any  Loan  or  any  reimbursement        obligation in respect of any Letter of Credit due to such Lender;                     (vi)  amend,  modify,  terminate  or  waive  any  provision  of  this        Section 10.5(b) or Section 10.5(c);                     (vii) amend  the  definition  of  “Requisite  Lenders”  or  “Pro  Rata        Share”; provided, with the consent of Requisite Lenders additional extensions of credit        pursuant hereto may be included in the determination of “Requisite  Lenders” or “Pro        Rata Share” on substantially the same basis as the Term Loan Commitments, the Term        Loan,  the  Revolving  Commitments  and  the  Revolving  Loans  are  included  on  the        Amendment and Restatement Effective Date;                      (viii) consent to the assignment or transfer by any Credit Party of any of        its rights and obligations under any Credit Document; or                     (ix)  release (x) all or substantially all of the Collateral or (y) Holding or        all or substantially all of the Guarantors from the Guaranty except as expressly provided        in the Credit Documents.               (c)   Other Consents.  No amendment, modification, termination or waiver of  any  provision  of  the  Credit  Documents,  or  consent  to  any  departure  by  any  Credit  Party  therefrom, shall:                     (i)   increase any Commitment of any Lender over the amount thereof        then in effect without the consent of such Lender; provided, no amendment, modification        or  waiver  of  any  condition  precedent,  covenant,  Default  or  Event  of  Default  shall        constitute an increase in any Commitment of any Lender;                     (ii)  amend, modify, terminate or waive any provision hereof relating to        the  Swing  Line  Sublimit  or  the  Swing  Line  Loans  without  the  consent  of  Swing  Line        Lender;                     (iii) amend  the  definition  of  “Requisite  Class Lenders”  without  the        consent  of  Requisite  Class Lenders  of  each  Class;  provided,  with  the  consent  of  the        Requisite Lenders, additional extensions of credit pursuant hereto may be included in the                                       -186-                                           105376510    

 

           determination of such “Requisite Class Lenders” on substantially the same basis as the         Term  Loan  Commitments,  the  Term  Loans,  the  Revolving  Commitments  and  the         Revolving Loans are included on the Amendment and Restatement Effective Date;                      (iv)  alter the required application of any repayments or prepayments as         between Classes pursuant to Section 2.15 without the consent of Requisite Class Lenders         of  each  Class  which  is  being  allocated  a  lesser  repayment  or  prepayment  as  a  result         thereof; provided, Requisite Lenders may waive, in whole or in part, any prepayment so         long as the application, as between Classes, of any portion of such prepayment which is         still required to be made is not altered;                      (v)   amend  Section  7.2  of  the  Pledge  and  Security  Agreement  or  the         Holding Pledge Agreement in a manner that would alter the pro rata sharing of payments         required thereby, without the consent of Requisite Class Lenders of each Class which is         being allocated a lesser payment as a result thereof;                      (vi)  amend, modify, terminate or waive any provision of Section 9 as         the same applies to any Agent, or any other provision hereof as the same applies to the         rights or obligations of any Agent, in each case without the consent of such Agent;                       (vii) amend, modify, terminate or waive any provision hereof relating to         the Letters of Credit without the consent of each Issuing Bank (but, for the avoidance of         doubt,  Company  may  amend,  modify,  terminate  or  waive  any  Letter  of  Credit  or  any         Issuer Document issued or to be issued by an Issuing Bank with only the consent of such         Issuing Bank);                      (viii) amend  Section  1.5  or  the  definition  of  “Alternative  Currency”,         without the consent of each Revolving Lender.                In  addition,  notwithstanding  anything  else  to  the  contrary  herein,  (A)  the  Administrative Agent and Holding shall be permitted to amend any provision of any Collateral  Document or the Guaranty, or enter into any new agreement or instrument, to better implement  the intentions of this Agreement and the other Credit Documents or as required by local law to  give effect to any guaranty, or to give effect to or to protect any security interest for the benefit  of the Secured Parties, in any property so that the security interests comply with applicable law,  and in each case, such amendments, documents and agreements shall become effective without  any further action or consent of any other party to any Credit Document, and (B) any waiver or  amendment in respect of this Agreement or any other Credit Document that by its terms affects  the  rights  or  duties  under  this  Agreement  or  any  other  Credit  Document  of  Lenders  holding  Loans  or  Commitments  of  a  particular  tranche  (but  not  the  Lenders  holding  Loans  or  Commitments of any other tranche) may be effected by an agreement or agreements in writing  entered into by Company and the requisite percentage in interest of the Lenders with respect to  such tranche that would be required to consent thereto under this Section 10.5 if such Lenders   were the only Lenders hereunder at the time.                For the avoidance of doubt, (A) Letters of Credit and the provisions thereof may   be waived, amended or modified solely in accordance with Section 2.4, (B) this Agreement may                                       -187-                                             105376510     

 

     be amended to effectuate the provisions of the definition of “Eurodollar Rate”, Sections 2.24 and   6.01(y), in each case as set forth therein (without the consent of the Requisite Lenders) and (C)   the Engagement Letter and the Fee Letter and the respective provisions thereof may be waived,   amended or modified solely in accordance with their respective terms.                (d)   Execution of Amendments, etc.  Administrative Agent may, but shall have   no  obligation  to,  with  the  concurrence  of  any  Lender,  execute  amendments,  modifications,   waivers or consents on behalf of such Lender.  Any waiver or consent shall be effective only in   the specific instance and for the specific purpose for which it was given.  No notice to or demand   on any Credit Party in any case shall entitle any Credit Party to any other or further notice or   demand in similar or other circumstances.  Any amendment, modification, termination, waiver or   consent effected in accordance with this Section 10.5 shall be binding upon each Lender at the   time outstanding, each future Lender and, if signed by a Credit Party, on such Credit Party.                Notwithstanding the foregoing, this Agreement may be amended (or amended and   restated) in accordance with Section 2.24 and 2.25.                (e)   Additional Amendments Provisions.  Nothing herein shall be deemed to   prohibit an amendment and/or amendment and restatement of this Agreement consented to by   the  Requisite  Lenders,  Company  and  Administrative  Agent  (i) to add  one  or  more  additional   credit facilities to this Agreement (it being understood that no Lender shall have any obligation   to provide or to commit to provide all or any portion of any such additional credit facility) and to   permit the extensions of credit from time to time outstanding thereunder and the accrued interest   and fees in respect thereof to share ratably in the benefits of this Agreement and the other Credit   Documents  with  the  Term  Loans  and  Revolving  Loans  and  the  accrued  interest  and  fees  in   respect  thereof  and  (ii) to  effect  the  amendments  contemplated by  the  proviso  in   Section 10.5(b)(iii)  and  such  other  amendments  to  this  Agreement  and  the  other  Credit   Documents  as  may  be  necessary  or  appropriate,  in  the  opinion  of  Administrative  Agent  to   provide for such additional credit facility.          10.6  Successors and Assigns; Participations.                (a)   Generally.  This Agreement shall be binding upon the parties hereto and   their  respective  successors  and assigns  permitted  hereby  and  shall  inure  to  the  benefit  of  the   parties hereto and their respective successors and assigns permitted hereby.  No Credit Party’s  rights  or  obligations  hereunder  nor  any  interest  therein  may  be  assigned  or  delegated  by  any  Credit  Party  without  the  prior  written  consent  of  Administrative  Agent  and  all  Lenders.   No   Lender  may  assign,  sell,  participate  or  otherwise  transfer  any  of  its  rights  under  the  Credit   Documents except as set forth in this Section 10.6 or the penultimate sentence of Section 2.23.    Nothing in this Agreement, expressed or implied, shall be construed to confer upon any Person   (other  than  the  parties  hereto,  their  respective  successors  and  assigns  permitted  hereby,   participants to the extent provided in paragraph (g) of this Section and, to the extent expressly   contemplated hereby, the Related Parties of each of Administrative Agent, the Issuing Bank and   the Lenders) any legal or equitable right, remedy or claim under or by reason of this Agreement.                (b)   Register.  Administrative Agent, acting solely for this purpose as an agent   of  Company  (and  any  such  agency  being  solely  for  tax  purposes),  shall  maintain  at                                       -188-                                             105376510     

 

   Administrative Agent’s Principal Office a copy of each Assignment Agreement delivered to it  (or the equivalent thereof in electronic form) and a register for the recordation of the names and  addresses of the Lenders, and the Commitments of, and principal amounts (and stated interest) of  the Loans and L/C Obligations owing to, each Lender pursuant to the terms hereof from time to  time (the “Register”).  The entries in the Register shall be conclusive absent manifest error, and  Company, Administrative Agent and the Lenders shall 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.  The Register shall be available for inspection by Company and any Lender (solely  with respect to such Lender’s Loans and Commitments), at any reasonable time and from time to  time upon reasonable prior notice.               (c)   Right  to  Assign.   Each  Lender  shall  have  the  right  at  any  time to  sell,  assign or transfer all or a portion of its rights and obligations under this Agreement, including,  without limitation, all or a portion of its Commitment or Loans (including participations in L/C  Obligations and in Swing Line Loans) or other Obligation owing to it (provided, however, that  each  such  assignment  shall  be  of  a  uniform,  and  not  varying,  percentage  of  all  rights  and  obligations  under  and  in  respect  of  any  Loan  and  any  related  Commitments)  to  any  Person  meeting the criteria of “Eligible Assignee” (subject to Section 10.6(i)) consented to by each of  the Persons specified below (each such consent not to be unreasonably withheld or delayed):                     (i)   Company; provided that no consent of Company shall be required        (x) in the case of any Lender, for an assignment of any Term Loan and any Term Loan        Commitment to a Lender, an Affiliate of a Lender or a Related Fund, (y) if an Event of        Default pursuant to Section 8.1(a), (f) or (g) has occurred and is continuing or (z) in the        case  of  any  Revolving  Lender,  for  an  assignment  of  any  Revolving  Loan  and  any        Revolving Commitment to a Revolving Lender; provided that, Company shall be deemed        to have consented to such assignment unless it shall object thereto by written notice to        Administrative Agent within ten (10) Business Days after having received notice thereof;                     (ii)  Administrative Agent, except with respect to (x) an assignment of        any Term Loan and any Term Loan Commitment to a Lender, an Affiliate of a Lender or        a  Related  Fund  and  (y)  an  assignment  of  any  Revolving  Loan  and any  Revolving        Commitment to a Revolving Lender;                     (iii) with respect to any proposed assignment of all or a portion of any        Revolving Loan or Revolving Commitment, the Swing Line Lender; and                      (iv)  with respect to any proposed assignment of all or a portion of any        Revolving  Loan  or  Revolving  Commitment  which  increases  the  obligation  of  the        assignee to participate in exposure under one or more Letters of Credit (whether or not        then outstanding), the Issuing Banks;         provided,  further,  each  such  assignment  pursuant  to  this  Section 10.6(c)  shall  be  in  an        aggregate  amount  of  not  less  than  (A)  $5,000,000  (or  such  lesser  amount  as  may  be        agreed  to  by  Company  and  Administrative  Agent  or  as  shall  constitute  the  aggregate        amount of the Revolving Commitments and Revolving Loans of the assigning Lender)        with respect to the assignment of the Revolving Commitments and applicable Revolving                                      -189-                                           105376510    

 

         Loans and (B) $5,000,000 (or such lesser amount as may be agreed to by Company and        Administrative Agent or as shall constitute the aggregate amount of the Term Loan of the        assigning Lender) with respect to the assignment of Term Loans.         The  parties  hereby  agree  that  MLPFS  (but  not  Bank  of  America,  N.A.)  may,  without        notice  to  the  Company,  assign  its  rights  and  obligations  under this  Agreement  to  any        other registered broker-dealer wholly-owned by Bank of America Corporation to which        all  or  substantially  all  of  Bank  of  America  Corporation’s  or  any  of  its  subsidiaries’        investment  banking,  commercial  lending  services  or  related  businesses  may  be        transferred following the date of this Agreement.               (d)   Mechanics.                     (i)   Assignments  and  assumptions  of  Loans  and  Commitments  shall        only  be  effected  by  execution  and  delivery  to  Administrative  Agent  of  an  Assignment        Agreement  together  with  a  processing  and  recordation  fee  in  the  amount  of  $3,500;        provided, however, that Administrative Agent may, in its sole discretion, elect to waive        such processing and recordation fee in the case of any assignment.  Assignments made        pursuant to the foregoing provision shall be effective as of the effective date specified in        each Assignment Agreement (the “Assignment Effective Date”).  Any assignee of any        Lender under Section 10.6(c) (an “Assignee”) shall, if not already a Lender, deliver to        Administrative Agent an administrative questionnaire in which the Assignee designates        one or more credit contacts to whom all syndicate-level information (which may contain        material  non-public  information  about  Company  and  its  Affiliates  and  their  related        parties or their respective securities) will be made available and who may receive such        information  in  accordance  with  the  Assignee’s  compliance  procedures  and  applicable        laws,  including  Federal  and  state  securities  laws.   In  connection  with  all  assignments        there  shall  also  be  delivered  to  Administrative  Agent  and  Company  such  forms,        certificates or other evidence, if any, with respect to United States federal tax withholding        matters  as  the  assignee  under  such  Assignment  Agreement  may  be required  to  deliver        pursuant to Section 2.20(e) and 2.20(g).                     (ii)  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  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 Company and Administrative Agent, the        applicable  Pro  Rata  Share  of  Loans  previously  requested  but  not  funded  by  the        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 Administrative Agent, Issuing Banks, Swing Line 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        Swing Line Loans.  Notwithstanding the foregoing, in the event that any assignment of        rights and obligations of any Defaulting Lender hereunder shall become effective under                                      -190-                                           105376510    

 

         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.               (e)   Effect  of  Assignment.   Subject  to  the  terms  and  conditions  of  this  Section 10.6, as of the “Assignment Effective Date” (i) the assignee thereunder shall have the  rights  and  obligations  of  a  “Lender”  hereunder  to  the  extent  of  its  interest  in  the  Loans  and  Commitments as reflected in the Register and shall thereafter be a party hereto and a “Lender”  for all purposes hereof; (ii) the assigning Lender thereunder shall, to the extent that rights and  obligations hereunder have been assigned to the assignee, relinquish its  rights  (other  than  any  rights  which  survive  the  termination  hereof  under  Section 10.8)  and  be  released  from  its  obligations hereunder (and, in the case of an assignment covering all or the remaining portion of  an  assigning  Lender’s  rights  and obligations  hereunder,  such  Lender  shall cease  to be  a  party  hereto  on  the  Assignment  Effective  Date;  provided,  anything  contained  in  any  of  the  Credit  Documents to the contrary notwithstanding, (y) an assigning Issuing Bank shall continue to have  all rights and obligations thereof with respect to such Letters of Credit until the cancellation or  expiration of such Letters of Credit and the reimbursement of any amounts drawn thereunder and  (z) such assigning Lender shall continue to be entitled to the benefit of all indemnities hereunder  as specified herein with respect to matters arising out of the prior involvement of such assigning  Lender  as  a  Lender  hereunder  to  the  extent  provided  hereunder);  provided,  that  except  to  the  extent otherwise expressly agreed by the affected parties, no assignment by a Defaulting Lender  will  constitute  a  waiver  or  release  of  any  claim  of  any  party  hereunder  arising  from  such  Lender’s having been a Defaulting Lender; (iii) the Commitments shall be modified to reflect the  Commitment of such assignee and any Revolving Commitment of such assigning Lender, if any;  and (iv) if any such assignment occurs after the issuance of any Note hereunder, the assigning  Lender shall, upon the effectiveness of such assignment or as promptly thereafter as practicable,  surrender its applicable Notes to Administrative Agent for cancellation, and thereupon Company,  at its expense, shall issue and deliver new Notes, if so requested by the assignee and/or assigning  Lender, to such assignee and/or to such assigning Lender, with appropriate insertions, to reflect  the new Revolving Commitments and/or outstanding Loans of the assignee and/or the assigning  Lender.  Any assignment or transfer by a Lender of rights or obligations under this Agreement  that does not comply with paragraph (c) 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 paragraph (f)  of this Section.               (f)   Participations.  Each Lender shall have the right at any time to sell one or  more participations to any Eligible Assignee (subject to paragraph (i) of this Section) in all or  any part of its Commitments, Loans (including such Lender’s participations in L/C Obligations  and/or Swing Line Loans) or in any other Obligation.  The holder of any such participation, other  than an Affiliate of the Lender granting such participation, shall not be entitled to require such  Lender  to  take  or  omit  to  take  any  action  hereunder  except  with  respect  to  any  amendment,  modification or waiver that would (i) extend the final scheduled maturity of any Loan, Note or  Letter of Credit (unless such Letter of Credit is not extended beyond the Revolving Commitment  Termination Date) in which such participant is participating, or reduce the rate or extend the time  of payment of interest or fees thereon (except in connection with a waiver of applicability of any  post-default  increase  in  interest  rates)  or  reduce  the  principal  amount  thereof,  or  increase  the                                       -191-                                           105376510    

 

     amount  of  the  participant’s  participation  over  the  amount  thereof  then  in  effect  (it  being   understood that a waiver of any Default or Event of Default or of a mandatory reduction in the   Commitment shall not constitute a change in the terms of such participation, and that an increase   in  any  Commitment  or  Loan  shall  be  permitted  without  the  consent  of  any  participant  if  the   participant’s participation is not increased as a result thereof), (ii) consent to the assignment or   transfer  by  any  Credit  Party  of  any  of  its  rights  and  obligations  under  this  Agreement  or   (iii) release all or substantially all of the Collateral under the Collateral Documents (except as   expressly  provided  in  the  Credit  Documents)  supporting  the  Loans  hereunder  in  which  such   participant is participating.  Company agrees that each participant shall be entitled to the benefits   of  Sections 2.18(c),  2.19  and 2.20 (it  being  understood  that  the  documentation  required  under   Sections 2.20(e) and 2.20(g) shall be delivered to the Lender who sells the participation) to the   same  extent  as  if  it  were  a  Lender  and  had  acquired  its  interest  by  assignment  pursuant  to   paragraph (c)  of  this  Section;  provided,  (1)  a  participant  shall  not  be  entitled  to  receive  any   greater payment under Sections 2.18(c), 2.19 or 2.20 than the applicable Lender would have been   entitled to receive with respect to the participation sold to such participant, unless the sale of the   participation  to  such  participant  is  made  with  Company’s  prior written  consent  or  such   entitlement to receive a greater payment results from a change in any applicable law, treaty or   governmental  rule,  regulation  or  order,  or  any  change  in  the  interpretation,  administration  or   application thereof, that occurs after the participant acquired the applicable participation, (2) a   participant shall not be entitled to the benefits of Section 2.20 unless such participant complies   with Section 2.20 as though it were a Lender and (3) a participant agrees to be subject to the   provisions of Sections 2.21 and 2.23 as if it were an assignee under paragraph (c) of this Section.    Each  Lender  that  sells  a  participation  agrees,  at  Company’s  request  and  expense,  to  use   reasonable efforts to cooperate with Company to effectuate the provisions of Section 2.21 with   respect to any participant.  To the extent permitted by law, each participant also shall be entitled   to the benefits of Section 10.4 as though it were a Lender, provided, such participant agrees to be   subject to Section 2.17 as though it were a Lender.  Each Lender that sells a participation shall,   acting solely for this purpose as a non-fiduciary agent of Company, maintain a register on which   it enters the name and address of each participant and the principal amounts (and stated interest)   of each participant’s interest in the Loans or other obligations under the Credit Documents (the   “Participant Register”); provided that no Lender shall have any obligation to disclose all or any   portion of the Participant Register (including the identity of any participant or any information   relating  to  a  participant’s  interest  in  any  commitments,  loans, letters of credit or its other   obligations under any Credit Document) to any Person except to the extent that such disclosure is   necessary  to  establish  that  such  commitment,  loan,  letter  of  credit  or  other  obligation  is  in   registered  form  under  Treasury  Regulations  section 5f.103-1(c) or  Proposed  Treasury  Regulations section 1.163-5(b).  The entries in the Participant Register shall be conclusive absent  manifest error, and such Lender shall treat each Person whose name is recorded in the Participant  Register as the owner of such participation for all purposes of this Agreement notwithstanding  any notice to the contrary.  For the avoidance of doubt, Administrative Agent (in its capacity as  Administrative Agent) shall have no responsibility for maintaining a Participant Register.               (g)   Certain Other Assignments.  In addition to any other assignment permitted   pursuant  to  this  Section 10.6,  any  Lender  may  assign  and/or  pledge  all  or  any  portion  of  its   Loans,  the  other  Obligations  owed  by  or  to  such  Lender,  and  its  Notes,  if  any,  to  secure   obligations  of  such  Lender  including,  without  limitation,  any  Federal  Reserve  Bank  (or  such                                        -192-                                             105376510     

 

   central bank having supervisory jurisdiction over such Lender) or any pledge or assignment to  any holders of obligations owed, or securities issued, by such Lender as collateral security for  such obligations or securities, or to any trustee for, or any other representative of, such holders as  collateral security pursuant to Regulation A of the Board of Governors of the Federal Reserve  System  and  any  operating  circular  issued  by  such  Federal  Reserve  Bank  (or  applicable  regulations of such central bank having supervisory jurisdiction over such Lender); provided, no  Lender,  as  between  Company  and  such  Lender,  shall  be  relieved  of  any  of  its  obligations  hereunder as a result of any such assignment and pledge, and provided further, in no event shall  the applicable Federal Reserve Bank (or such central bank having supervisory jurisdiction over  such  Lender),  pledgee  or  trustee  be  considered  to  be  a  “Lender” or be entitled to require the  assigning Lender to take or omit to take any action hereunder.               (h)   Resignation  as  Issuing  Bank  or  Swing  Line  Lender  after  Assignment.   Notwithstanding  anything  to  the  contrary  contained  herein,  if  at  any  time  an  Issuing  Bank  or  Swing  Line  Lender,  as  applicable,  assigns  all  of  its  Revolving Commitment  and  Revolving  Loans pursuant to paragraph (c) above, such Issuing Bank may, (i) upon sixty (60) days’ notice  to Company and the Lenders, resign as Issuing Bank and/or (ii) upon thirty (30) days’ notice to  Company, resign as Swing Line Lender.  In the event of any such resignation as Issuing Bank or  Swing Line Lender, Company shall be entitled to appoint from among the Lenders a successor  Issuing  Bank  or  Swing  Line  Lender  which  accepts  such  appointment  hereunder;  provided,  however, that no failure by Company to appoint any such successor shall affect the resignation of  such Issuing Bank or Swing Line Lender.  The retiring Issuing Bank shall retain all the rights,  powers, privileges and duties of the Issuing Bank hereunder with respect to all Letters of Credit  outstanding as of the effective date of its resignation as Issuing Bank and all L/C Obligations  with respect thereto (including the right to require the Lenders to make Base Rate Loans or fund  risk  participations  in  Unreimbursed  Amounts  pursuant  to  Section  2.4(c)).   The  retiring  Swing  Line  Lender  shall  retain  all  the  rights  of  the  Swing  Line  Lender  provided  for  hereunder  with  respect  to  Swing  Line  Loans  made  by  it  and  outstanding  as  of  the  effective  date  of  such  resignation,  including  the  right  to  require  the  Lenders  to  make  Base  Rate  Loans  or  fund  risk  participations  in  outstanding  Swing  Line  Loans  pursuant  to  Section  2.3(b).   Upon  the  appointment of and acceptance by a successor Issuing Bank and/or Swing Line Lender, (x) such  successor shall succeed to and become vested with all of the rights, powers, privileges and duties  of  the  retiring  Issuing  Bank  or  Swing  Line  Lender,  as  the  case may  be  and  (y)  the  successor  Issuing  Bank  shall  issue  letters  of  credit  in  substitution  for the  Letters  of  Credit,  if  any,  outstanding at the time of such succession or make other arrangements satisfactory to the retiring  Issuing Bank to effectively assume the obligations of such retiring Issuing Bank with respect to  such Letters of Credit.               (i)   Disqualified Lenders.  No assignment or participation shall be made to any  Person that was a Disqualified Lender as of the date (the “Trade Date”) on which the assigning  Lender entered into a binding agreement to sell and assign or participate all or a portion of its  rights and obligations under this Agreement to such Person (unless the Company has consented  to such assignment or participation in writing in its sole and absolute discretion, in which case  such Person will not be considered a Disqualified Lender for the purpose of such assignment or  participation).   For  the  avoidance  of  doubt,  with  respect  to  any  assignee  or  participant  that  becomes  a  Disqualified  Lender  after  the  applicable  Trade  Date  (including  as  a  result  of  the                                       -193-                                           105376510    

 

     delivery  of  a  notice  pursuant  to, and/or  the  expiration  of  the notice  period  referred  to  in,  the  definition  of  “Disqualified  Lender”),  (x)  such  assignee  shall  not  retroactively  be  disqualified  from becoming a Lender or participant and  (y) the execution by the Company of an Assignment   Agreement with respect to such assignee will not by itself result in such assignee no longer being   considered a Disqualified Lender. Any assignment in violation of this Section 10.6(i) shall not be   void, but the other provisions of this Section 10.6(i) shall apply:                      (i)   If  any  assignment  or  participation  is  made  to  any  Disqualified         Lender without the Company’s prior written consent in violation of this Section 10.6(i),         or  if  any  Person  becomes  a  Disqualified  Lender  after  the  applicable Trade Date, the         Company may, at its sole expense and effort, upon notice to the applicable Disqualified         Lender and the Administrative Agent, (A) terminate any Revolving Commitment of such         Disqualified Lender and repay all obligations of the Company owing to such Disqualified         Lender in connection with such Revolving Commitment, (B) in the case of outstanding         Term Loans held by Disqualified Lenders, purchase or prepay such Term Loan by paying         the lowest of (x) the principal amount thereof, and (y) the amount that such Disqualified         Lender paid to acquire such Term Loans, in each case plus accrued interest, accrued fees         and all other amounts (other than principal amounts) payable to it hereunder and/or (C)         require  such  Disqualified  Lender  to  assign,  without  recourse  (in  accordance  with  and         subject  to  the  restrictions  contained  in  this  Section  10.6),  all  of  its  interest,  rights  and         obligations under this Agreement to one or more Eligible Assignees at the lowest of (x)         the  principal  amount  thereof,  (y)  the  amount  that  such  Disqualified  Lender  paid  to         acquire such interests, rights and obligations, in each case plus accrued interest, accrued         fees  and  all  other  amounts  (other  than  principal  amounts)  payable  to  it  hereunder;         provided that (i) to the extent not waived by the Administrative Agent, the Administrative         Agent shall have received the assignment fee (if any) specified in Section 10.6(d) from         the assignor, the assignee or otherwise and (ii) such assignment does not conflict with         applicable law.                      (ii)  Notwithstanding  anything  to  the  contrary  contained  in  this         Agreement, Disqualified Lenders (A) will not (x) have the right to receive information,         reports or other materials provided to Lenders by the Company, the Administrative Agent         or any other Lender, (y) attend or participate in meetings attended by the Lenders and the        Administrative  Agent,  or  (z)  access  any  electronic  site  established  for  the  Lenders  or        confidential communications from counsel to or financial advisors of the Administrative        Agent or the Lenders and (B) (x) for purposes of any consent to any amendment, waiver        or  modification  of,  or  any  action  under,  and  for  the  purpose  of  any  direction  to  the        Administrative Agent or any Lender to undertake any action (or refrain from taking any        action) under this Agreement or any other Credit Document, each Disqualified Lender        will  be  deemed  to  have  consented  in  the  same  proportion  as  the Lenders  that  are  not        Disqualified Lenders consented to such matter, and (y) for purposes of voting on any plan        of reorganization or plan of liquidation pursuant to any Debtor Relief Laws (a “Plan”),         each Disqualified Lender party hereto hereby agrees (1) not to vote on such Plan, (2) if         such Disqualified Lender does vote on such Plan notwithstanding the restriction in the         foregoing  clause  (1),  such  vote  will  be  deemed  not  to  be  in  good  faith  and  shall  be         “designated”  pursuant  to  Section  1126(e)  of  the  Bankruptcy  Code  (or  any  similar                                        -194-                                             105376510     

 

           provision  in  any  other  Debtor  Relief  Laws),  and  such  vote  shall  not  be  counted  in         determining  whether  the  applicable  class  has  accepted  or  rejected  such  Plan  in         accordance with Section 1126(c) of the Bankruptcy Code (or any similar provision in any         other  Debtor  Relief  Laws)  and  (3)  not  to  contest  any  request  by  any  party  for  a         determination  by  the  Bankruptcy  Court  (or  other  applicable  court  of  competent         jurisdiction) effectuating the foregoing clause (2).                (j)   No  Responsibility  of  Administrative  Agent.   The  Administrative Agent   shall  not  be  responsible  or  have  any  liability  for,  or  have  any  duty  to  ascertain,  inquire  into,   monitor  or  enforce,  compliance  with  the  provisions  hereof  relating  to  Disqualified   Lenders.  Without limiting the generality of the foregoing, the Administrative Agent shall not (x)   be  obligated  to  ascertain,  monitor  or  inquire  as  to  whether  any Lender or Participant or  prospective Lender or Participant is a Disqualified Lender or (y) have any liability with respect  to  or  arising  out  of  any  assignment  or  participation  of  Loans, or  disclosure  of  confidential  information,  to  any  Disqualified  Lender.   The  Administrative  Agent  shall  have  the  right,  and  Company  hereby  expressly  authorizes  the  Administrative  Agent  to (A) post the list of  Disqualified  Lenders  provided  by  the  Company  and  any  updates  thereto  from  time  to  time  (collectively, the “DQ List”) on the “private side” of the Platform and (B) provide the DQ List to   each Lender requesting the same.            10.7  Independence  of  Covenants.   All  covenants  hereunder  shall  be  given   independent  effect  so  that  if  a  particular  action  or  condition is  not  permitted  by  any  of  such   covenants, the fact that it would be permitted by an exception to, or would otherwise be within   the limitations of, another covenant shall not avoid the occurrence of a Default or an Event of   Default if such action is taken or condition exists.          10.8  Survival of Representations, Warranties and Agreements. All representations,   warranties and agreements made herein and in any other Credit Document or other document   delivered  pursuant  hereto  or  thereto  or  in  connection  herewith or  therewith  shall  survive  the   execution  and  delivery  hereof  and  thereof  and  the  making  of  any  Credit  Extension.   Such   representations  and  warranties  have  been  or  will  be  relied  upon  by  Administrative  Agent  and   each Lender, regardless of any investigation made by Administrative Agent or any Lender or on   their behalf and notwithstanding that Administrative Agent or any Lender may have had notice   or knowledge of any Default or Event of Default at the time of any Credit Extension, and shall   continue in  full  force  and  effect  as  long  as  any  Loan  or  any  other  Obligation  hereunder  shall   remain unpaid or unsatisfied or any Letter of Credit shall remain outstanding.  Notwithstanding  anything herein or implied by law to the contrary, the agreements of each Credit Party set forth  in Sections 2.18(c), 2.19, 2.20, 10.2, 10.3 and 10.4 and the agreements of Lenders set forth in   Sections 2.17, 2.20, 9.3(b) and 10.10 shall survive the payment of the Loans, the cancellation or   expiration of the Letters of Credit, the reimbursement of any amounts drawn thereunder, and the   termination hereof.          10.9  No Waiver; Remedies Cumulative.  No failure or delay on the part of any Agent   or  any  Lender  in  the  exercise  of  any  power,  right  or  privilege hereunder  or  under  any  other   Credit Document shall impair such power, right or privilege or be construed to be a waiver of   any default or acquiescence therein, nor shall any single or partial exercise of any such power,   right  or  privilege  preclude  other  or  further  exercise  thereof  or  of  any  other  power,  right  or                                       -195-                                             105376510     

 

     privilege.   The  rights,  powers  and  remedies  given  to  each  Agent  and  each  Lender  hereby  are   cumulative  and  shall  be  in  addition  to  and  independent  of  all  rights,  powers  and  remedies   existing by virtue of any statute or rule of law or in any of the other Credit Documents.  Any   forbearance  or  failure  to  exercise,  and  any  delay  in  exercising,  any  right,  power  or  remedy   hereunder  shall  not  impair  any  such  right,  power  or  remedy  or  be  construed  to  be  a  waiver   thereof, nor shall it preclude the further exercise of any such right, power or remedy.                 Notwithstanding anything to the contrary contained herein or in any other Credit   Document,  the  authority  to  enforce  rights  and  remedies  hereunder  and  under  the  other  Credit   Documents  against  the  Credit  Parties  or  any  of  them  shall  be  vested  exclusively  in,  and  all   actions  and  proceedings  at  law  in  connection  with  such  enforcement  shall  be  instituted  and   maintained exclusively by, Administrative Agent in accordance with Section 8.1 for the benefit   of all the Lenders and the Issuing Banks; provided, however, that the foregoing shall not prohibit   (a) Administrative Agent from exercising on its own behalf the rights and remedies that inure to   its benefit (solely in its capacity as Administrative Agent) hereunder and under the other Credit   Documents,  (b) the  Issuing  Banks  or  the  Swing  Line  Lender  from exercising  the  rights  and   remedies that inure to its benefit (solely in its capacity as Issuing Banks or Swing Line Lender,   as  the  case  may  be)  hereunder  and  under  the  other  Credit  Documents,  (c) any  Lender  from   exercising setoff rights in accordance with Section 10.4 (subject to the terms of Section 2.17), or   (d) any Lender from filing proofs of claim or appearing and filing pleadings on its own behalf   during the pendency of a proceeding relative to any Credit Party under any Debtor Relief Law;   and  provided,  further,  that  if  at  any  time  there  is  no  Person  acting  as  Administrative  Agent   hereunder and under the other Credit Documents, then (i) the Requisite Lenders shall have the   rights otherwise ascribed to Administrative Agent pursuant to Section 8.1 and (ii) in addition to   the  matters  set  forth  in  clauses (b),  (c) and  (d) of  the  preceding  proviso  and  subject  to   Section 2.17, any Lender may, with the consent of the Requisite Lenders, enforce any rights and   remedies available to it and as authorized by the Requisite Lenders.           10.10 Marshalling; Payments Set Aside.  Neither any Agent nor any Lender shall be   under any obligation to marshal any assets in favor of any Credit Party or any other Person or   against or in payment of any or all of the Obligations.  To the extent that any Credit Party makes   a  payment  or  payments  to  Administrative  Agent  or  Lenders  (or  to  Administrative  Agent,  on   behalf of Lenders), or Administrative Agent or Lenders enforce any security interests or exercise   their  rights  of  setoff,  and  such  payment  or  payments  or  the  proceeds  of  such  enforcement  or   setoff or any part thereof are subsequently invalidated, declared to be fraudulent or preferential,   set  aside  and/or  required  to  be repaid  to  a  trustee,  receiver  or  any  other  party  under  any   bankruptcy law, any other state or federal law, common law or any equitable cause, then, to the   extent of such recovery, the obligation or part thereof originally intended to be satisfied, and all   Liens, rights and remedies therefor or related thereto, shall be revived and continued in full force   and effect as if such payment or payments had not been made or such enforcement or setoff had   not occurred.  Each Lender and Issuing Bank severally agrees to pay to Administrative Agent   upon  demand  its  applicable  share  (without  duplication)  of  any  amount  so  recovered  from  or  repaid by Administrative Agent, plus interest thereon from the date of such demand to the date  such payment is made at a rate per annum equal to the applicable Overnight Rate from time to  time in effect, in the applicable currency of such recovery or payment.  The obligations of the                                        -196-                                             105376510     

 

     Lenders and Issuing Banks under the preceding sentence shall survive the payment in full of the   Obligations and the termination of this Agreement.           10.11 Severability.  If any provision of this Agreement or the other Credit Documents  is held to be illegal, invalid or unenforceable, (a) the legality, validity and enforceability of the  remaining provisions of this Agreement and the other Credit Documents shall not be affected or  impaired  thereby  and  (b)  the  parties  shall  endeavor  in  good  faith  negotiations  to  replace  the  illegal, invalid or unenforceable provisions with valid provisions the economic effect of which  comes  as  close  as  possible  to  that  of  the  illegal,  invalid  or  unenforceable  provisions.   The  invalidity of a provision in a particular jurisdiction shall not invalidate or render unenforceable  such  provision  in  any  other  jurisdiction.   Without  limiting  the  foregoing  provisions  of  this  Section 10.11, if and to the extent that the enforceability of any provisions in this Agreement   relating to Defaulting Lenders shall be limited by Debtor Relief Laws, as determined in good   faith by the Administrative Agent, any Issuing Bank or the Swing Line Lender, as applicable,   then such provisions shall be deemed to be in effect only to the extent not so limited.          10.12 Obligations Several; Independent Nature of Lenders’ Rights.  The obligations   of  Lenders  hereunder  are  several  and  not  joint  and  no  Lender  shall  be  responsible  for  the   obligations  or  Commitment  of  any  other  Lender  hereunder  or  to  make  payments  pursuant  to   Section 10.3(b).  Nothing contained herein or in any other Credit Document, and no action taken   by Lenders pursuant hereto or thereto, shall be deemed to constitute Lenders as a partnership, an   association, a joint venture or any other kind of entity.  The failure of any Lender to make any   Loan, to fund any such participation or to make any payment under Section 10.3(b) on any date   required hereunder shall not relieve any other Lender of its corresponding obligation to do so on   such date, and no Lender shall be responsible for failure of any other Lender to so make its Loan,   to purchase its participation or to make its payment under Section 10.3(b).  The amounts payable   at any time hereunder to each Lender shall be a separate and independent debt.           10.13 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),  Company  and  each  other  Credit   Party acknowledges and agrees that:  (i) (A) the services regarding this Agreement provided by   Administrative  Agent,  Lead  Arrangers,  and  the  Lenders  are  arm’s-length  commercial   transactions  between  Company,  each  other  Credit  Party  and  their  respective  Affiliates,  on  the   one  hand,  and  Administrative  Agent,  Lead  Arrangers  and  the  Lenders,  on  the  other  hand,   (B) each  of  Company  and  each  other  Credit  Party  has  consulted  its  own  legal,  accounting,   regulatory and tax advisors to the extent it has deemed appropriate, and (C) Company and each   other  Credit  Party  is  capable  of  evaluating,  and  understands  and  accepts,  the  terms,  risks  and   conditions  of  the  transactions  contemplated  hereby  and  by  the  Credit  Documents;  (ii)   (A) Administrative Agent, Lead Arrangers and each Lender 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 Company, any other Credit Party or   any of their respective Affiliates, or any other Person and (B) neither Administrative Agent, Lead   Arrangers nor any Lender has any obligation to Company, any other Credit Party or any of their   respective  Affiliates  with  respect  to  the  transactions  contemplated  hereby  except  those   obligations expressly set forth herein and in the other Credit Documents; and (iii) Administrative   Agent, Lead Arrangers and the Lenders and their respective Affiliates may be engaged in a broad                                       -197-                                             105376510     

 

     range of transactions that involve interests that differ from those of Company, the other Credit   Parties and their respective Affiliates, and neither Administrative Agent, Lead Arrangers nor any   Lender has any obligation to disclose any of such interests to Company, any other Credit Party or   any of their respective Affiliates.  To the fullest extent permitted by law, each of Company and   each  other  Credit  Party  hereby  waives  and  releases  any  claims  that  it  may  have  against   Administrative  Agent,  Lead  Arrangers  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.         10.14 Headings.   Section  headings  herein  are  included  herein  for  convenience of  reference  only  and  shall  not  constitute  a  part  hereof  for  any  other  purpose  or  be  given  any  substantive effect.         10.15 APPLICABLE  LAW.   THIS  AGREEMENT  AND  THE  RIGHTS  AND  OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE  GOVERNED BY, AND  SHALL  BE  CONSTRUED  AND  ENFORCED  IN  ACCORDANCE  WITH,  THE  LAWS  OF THE STATE OF NEW YORK.         10.16 CONSENT  TO  JURISDICTION.   ALL  JUDICIAL  PROCEEDINGS  BROUGHT  AGAINST  ANY  CREDIT  PARTY  ARISING  OUT  OF  OR  RELATING  HERETO OR ANY OTHER CREDIT DOCUMENT, OR ANY OF THE OBLIGATIONS,   SHALL  BE  BROUGHT  IN  ANY  STATE  OR  FEDERAL  COURT  OF  COMPETENT   JURISDICTION  IN  THE  STATE,  COUNTY  AND  CITY  OF  NEW  YORK.   BY   EXECUTING AND DELIVERING THIS AGREEMENT, EACH CREDIT PARTY, FOR   ITSELF  AND  IN  CONNECTION  WITH  ITS  PROPERTIES,  IRREVOCABLY   (a) ACCEPTS   GENERALLY      AND    UNCONDITIONALLY        THE    EXCLUSIVE   JURISDICTION  AND  VENUE  OF  SUCH  COURTS  (OTHER  THAN  WITH  RESPECT   TO  ACTIONS  BY  ANY  AGENT  IN  RESPECT  OF  RIGHTS  UNDER  ANY   COLLATERAL DOCUMENT GOVERNED BY LAWS OTHER THAN THE LAWS OF   THE STATE OF NEW YORK OR WITH RESPECT TO ANY COLLATERAL SUBJECT   THERETO);  (b) WAIVES  ANY  DEFENSE  OF  FORUM  NON  CONVENIENS;   (c) AGREES  THAT  SERVICE  OF  ALL  PROCESS  IN  ANY  SUCH  PROCEEDING  IN   ANY  SUCH  COURT  MAY  BE  MADE  BY  REGISTERED  OR  CERTIFIED  MAIL,   RETURN  RECEIPT  REQUESTED,  TO  THE  APPLICABLE  CREDIT  PARTY  AT  ITS   ADDRESS PROVIDED IN     ACCORDANCE WITH SECTION 10.1; (d) AGREES THAT   SERVICE  AS  PROVIDED  IN  CLAUSE (c)  ABOVE  IS  SUFFICIENT  TO  CONFER   PERSONAL  JURISDICTION  OVER  THE  APPLICABLE  CREDIT  PARTY  IN  ANY   SUCH  PROCEEDING  IN  ANY  SUCH  COURT,  AND  OTHERWISE  CONSTITUTES   EFFECTIVE  AND  BINDING  SERVICE  IN      EVERY  RESPECT;  AND  (e) AGREES   AGENTS  AND  LENDERS  RETAIN  THE  RIGHT  TO  SERVE  PROCESS  IN  ANY   OTHER MANNER PERMITTED BY LAW OR TO BRING PROCEEDINGS AGAINST   ANY CREDIT PARTY IN THE COURTS OF ANY OTHER JURISDICTION.          10.17 WAIVER  OF  JURY  TRIAL.  EACH  OF  THE  PARTIES  HERETO   IRREVOCABLY  HEREBY  AGREES  TO         WAIVE,  TO  THE  FULLEST  EXTENT  PERMITTED BY APPLICABLE LAW, ITS RESPECTIVE RIGHTS TO A JURY TRIAL   OF  ANY  CLAIM  OR  CAUSE  OF  ACTION  BASED  UPON  OR  DIRECTLY  OR                                       -198-                                             105376510     

 

   INDIRECTLY  ARISING  HEREUNDER  OR  UNDER  ANY  OF  THE  OTHER  CREDIT  DOCUMENTS  OR  ANY  DEALINGS  BETWEEN  THEM  RELATING  TO  THE  SUBJECT     MATTER      OF     THIS    LOAN     TRANSACTION        OR    THE  LENDER/BORROWER        RELATIONSHIP      THAT     IS  BEING    ESTABLISHED  (WHETHER  BASED  ON  CONTRACT,  TORT  OR  ANY  OTHER  THEORY).   THE  SCOPE  OF  THIS  WAIVER  IS  INTENDED  TO  BE  ALL-ENCOMPASSING  OF  ANY  AND ALL DISPUTES THAT MAY BE FILED IN ANY COURT AND THAT RELATE  TO  THE  SUBJECT  MATTER  OF  THIS  TRANSACTION,  INCLUDING  CONTRACT  CLAIMS,  TORT  CLAIMS,  BREACH  OF  DUTY  CLAIMS  AND  ALL  OTHER  COMMON  LAW  AND  STATUTORY  CLAIMS.   EACH  PARTY  HERETO  ACKNOWLEDGES  THAT  THIS  WAIVER  IS  A  MATERIAL  INDUCEMENT  TO  ENTER INTO A BUSINESS RELATIONSHIP, THAT EACH HAS ALREADY RELIED  ON  THIS  WAIVER  IN  ENTERING  INTO  THIS  AGREEMENT,  AND  THAT  EACH  WILL  CONTINUE  TO  RELY  ON  THIS  WAIVER  IN  ITS  RELATED  FUTURE  DEALINGS.   EACH  PARTY  HERETO  FURTHER  WARRANTS  AND  REPRESENTS  THAT IT HAS REVIEWED THIS WAIVER WITH ITS LEGAL COUNSEL AND THAT  IT  KNOWINGLY  AND  VOLUNTARILY  WAIVES  ITS  JURY  TRIAL  RIGHTS  FOLLOWING  CONSULTATION  WITH  LEGAL  COUNSEL.   THIS  WAIVER  IS  IRREVOCABLE, MEANING THAT IT MAY NOT BE MODIFIED EITHER ORALLY  OR  IN  WRITING  (OTHER  THAN  BY  A  MUTUAL  WRITTEN  WAIVER  SPECIFICALLY  REFERRING  TO  THIS  SECTION 10.17  AND  EXECUTED  BY  THE  PARTY  AGAINST  WHICH  ENFORCEMENT  IS  SOUGHT),  AND  THIS  WAIVER  SHALL    APPLY     TO   ANY    SUBSEQUENT       AMENDMENTS,       RENEWALS,  SUPPLEMENTS OR MODIFICATIONS HERETO OR ANY OF THE OTHER CREDIT  DOCUMENTS  OR  TO  ANY  OTHER  DOCUMENTS  OR  AGREEMENTS  RELATING  TO  THE  LOANS  MADE  HEREUNDER.   IN  THE  EVENT  OF  LITIGATION,  THIS  AGREEMENT  MAY  BE  FILED  AS  A  WRITTEN  CONSENT  TO  A  TRIAL  BY  THE  COURT.   EACH  PARTY  HERETO  CERTIFIES  THAT  NO  REPRESENTATIVE,  AGENT  OR  ATTORNEY  OR  ANY  OTHER  PERSON  HAS  REPRESENTED,  EXPRESSLY  OR  OTHERWISE,  THAT  SUCH  OTHER  PERSON  WOULD  NOT,  IN  THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER.         10.18 Confidentiality.  Each Agent, Issuing Bank and Lender shall hold all non-public  information regarding Company and its Subsidiaries and their businesses identified as such by  Company and obtained by such Agent, Issuing Bank or Lender, as applicable, pursuant to the  requirements  hereof  in  accordance  with  such  Agent’s,  Issuing  Bank’s  or  Lender’s  customary  procedures for handling confidential information of such nature and in accordance with sound  industry practice, it being understood and agreed by Company that, in any event, an Agent, an  Issuing  Bank  or  a  Lender  may  make  (i) disclosures  of  such  information  to  Affiliates  of  such  Agent, Issuing Bank or Lender and to its Related Parties (and to other persons authorized by a  Lender  or  Agent  to  organize,  present  or  disseminate  such  information  in  connection  with  disclosures  otherwise  made  in  accordance  with  this  Section 10.18),  (ii) disclosures  of  such  information reasonably required by any bona fide or potential assignee, transferee or participant  (or,  in  each  case,  their  respective  financing  sources)  in  connection  with  the  contemplated  assignment, transfer or participation by such Lender of any Loans or any participations therein or  by  any  direct  or  indirect  contractual  counterparties  (or  the  professional  advisors  thereto)  in                                       -199-                                           105376510    

 

     Permitted  Hedge  Agreements,  Permitted  Letters  of  Credit  and  Permitted  Cash  Management   Agreements  (provided,  such  bona  fide  or  potential  assignee,  transferee  or  participant  and   counterparties  and  advisors  are  advised  of  and  agree  to  be  bound  by  the  provisions  of  this   Section 10.18), (iii) disclosure to any rating agency when required by it, provided that prior to   any disclosure, such rating agency shall undertake in writing to preserve the confidentiality of   any confidential information relating to the Credit Parties received by it from any of the Agents   or  any  Lender,  (iv) disclosures required  or  requested  by  any  governmental  agency  or   representative thereof or by the NAIC or pursuant to legal or judicial process; provided, to the   extent practicable and not prohibited by law, court order or regulation, each Lender shall make   reasonable  efforts  to  notify  Company  of  any  request  by  any  governmental  agency  or   representative thereof (other than any such request in connection with any examination of the   financial condition or other routine examination of such Lender by such governmental agency)   for disclosure of any such non-public information prior to disclosure of such information, (v) on   a confidential basis to the CUSIP Service Bureau or any similar agency in connection with the   issuance and monitoring of CUSIP numbers or other market identifiers with respect to the credit   facilities  provided  hereunder,  (vi)  with  the  consent  of  Company,  (vii)  to  the  extent  such   information  (x)  becomes  publicly  available  other  than  as  a  result  of  a  breach  of  this  Section   10.18 or (y) becomes available to Administrative Agent, any Lender, any Issuing Bank or any of   their respective Affiliates on a nonconfidential basis from a source other than Company, (viii) to   any other party hereto, and (ix) in connection with the exercise of any remedies hereunder or   under any other Credit Document or any action or proceeding relating to this Agreement or any   other Credit Document or the enforcement of rights hereunder or thereunder.  In addition, the  Administrative  Agent  and  the  Lenders  may  disclose  the  existence of this Agreement and  information  about  this  Agreement  to  market  data  collectors,  similar  service  providers  to  the  lending  industry  and  service  providers  to  the  Agents  and  the  Lenders  in  connection  with  the  administration of this Agreement, the other Credit Documents, and the Commitments.  Unless  otherwise  agreed  to  by  Company  and  subject  to  Section  10.6(j), no  Agent,  Issuing  Bank  or   Lender  (or  any  Person  receiving  information  under  this  Section 10.18)  shall  disclose  such   confidential information held by it to any Disqualified Lender identified prior to such time by   Company  in  accordance  with  the  definition  thereof.   Any  Person  required  to  maintain  the   confidentiality  of  information  as  provided  in  this  Section  10.18  shall  be  considered  to  have   complied with its obligation to do so if such Person has exercised the same degree of care to   maintain  the  confidentiality  of  such  information  as  such  Person  would  accord  to  its  own   confidential information.                  Each  Lender  acknowledges  that  information  furnished  to  it  pursuant  to  this   Agreement  or  the  other  Credit  Documents  may  include  material  non-public  information   concerning Company and its Affiliates and their Related Parties or their respective securities, and   confirms that it has developed compliance procedures regarding the use of material non-public   information  and  that  it  will  handle  such  material  non-public  information  in  accordance  with   those  procedures  and  applicable  law,  including  Federal  and  state  securities  laws.   All   information,  including  requests  for  waivers  and  amendments,  furnished  by  Company  or   Administrative Agent pursuant to, or in the course of administering, this Agreement or the other  Credit Documents will be syndicate-level information, which may contain material non-public  information  about  Company  and  its  Affiliates  and  their  Related Parties  or  their  respective  securities.  Accordingly, each Lender represents to Company and Administrative Agent that it                                        -200-                                             105376510     

 

   has identified in its administrative questionnaire a credit contact who may receive information  that may contain material non-public information in accordance with its compliance procedures  and applicable law, including Federal and state securities laws.         10.19 Usury  Savings  Clause.   Notwithstanding  any  other  provision  herein,  the  aggregate interest rate charged with respect to any of the Obligations, including all charges or  fees  in  connection  therewith  deemed  in  the  nature  of  interest  under  applicable  law  shall  not  exceed  the  Highest  Lawful  Rate.   If  the  rate  of  interest  (determined  without  regard  to  the  preceding  sentence)  under  this  Agreement  at  any  time  exceeds  the  Highest  Lawful  Rate,  the  outstanding amount of the Loans made hereunder shall bear interest at the Highest Lawful Rate  until the total amount of interest due hereunder equals the amount of interest which would have  been due hereunder if the stated rates of interest set forth in this Agreement had at all times been  in effect.  In addition, if when the Loans made hereunder are repaid in full the total interest due  hereunder (taking into account the increase provided for above) is less than the total amount of  interest  which  would  have  been  due  hereunder  if  the  stated  rates  of  interest  set  forth  in  this  Agreement had at all times been in effect, then to the extent permitted by law, Company shall  pay to Administrative Agent an amount equal to the difference between the amount of interest  paid and the amount of interest which would have been paid if the Highest Lawful Rate had at all  times been in effect.  Notwithstanding the foregoing, it is the intention of Lenders and Company  to  conform  strictly  to  any  applicable  usury  laws.   Accordingly,  if  any  Lender  contracts  for,  charges, or receives any consideration which constitutes interest in excess of the Highest Lawful  Rate, then any such excess shall be cancelled automatically and, if previously paid, shall at such  Lender’s  option  be  applied  to  the  outstanding  amount  of  the  Loans  made  hereunder  or  be  refunded to Company.         10.20 Counterparts.  This Agreement may be executed in any number of counterparts,  each  of  which  when  so  executed  and  delivered  shall  be  deemed  an  original,  but  all  such  counterparts together shall constitute but one and the same instrument.  Delivery of an executed  counterpart of a signature page of this Agreement by facsimile or in electronic format (i.e., “pdf”  or “tif”) shall be effective as delivery of a manually executed counterpart of this Agreement.         10.21 Effectiveness.  This Agreement shall become effective upon the execution of a  counterpart  hereof  by  each  of  the  parties  hereto  and  receipt  by  Company  and  Administrative  Agent  of  written,  electronic  or  telephonic  notification  of  such  execution  and  authorization  of  delivery thereof.         10.22 Patriot Act.  Each Lender and Administrative Agent (for itself and not on behalf  of  any  Lender)  hereby  notifies  Company  that  pursuant  to  the  requirements  of  the  Act,  it  is  required  to  obtain,  verify  and  record  information  that  identifies  each  Credit  Party,  which  information includes the name and address of each Credit Party and other information that will  allow  such  Lender  or  Administrative  Agent,  as  applicable,  to  identify each Credit Party in  accordance with the Act.  The Company shall, promptly following a request by Administrative  Agent or any Lender, provide all documentation and other information that Administrative Agent  or such Lender requests in order to comply with its ongoing obligations under applicable “know  your customer” and anti-money laundering rules and regulations, including the Act.                                       -201-                                           105376510    

 

           10.23 Electronic  Execution  of  Assignments.   The  words  “delivery”,  “execute,”   “execution,” “signed,” “signature,” and words of like import in or related to any document to be   signed in connection with this Agreement and the transactions contemplated hereby (including   without  limitation  Assignment  Agreements,  amendments  or  other  modifications,  Funding   Notices, waivers and consents) shall be deemed to include electronic signatures, the electronic   matching  of  assignment  terms  and  contract  formations  on  electronic  platforms  approved  by   Administrative Agent, 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, physical delivery   thereof or the use of a paper-based recordkeeping system, as the case may be, to the extent and as   provided  for  in  any  applicable  law,  including  the  Federal  Electronic  Signatures  in  Global  and   National  Commerce  Act,  the  New  York  State  Electronic  Signatures and Records Act, or any   other  similar  state  laws  based  on  the  Uniform  Electronic  Transactions  Act;  provided  that   notwithstanding anything contained herein to the contrary neither the Administrative Agent, any   Issuing Bank, nor any Lender is under any obligation to agree to accept electronic signatures in   any form or in any format unless expressly agreed to by the Administrative Agent, Issuing Bank   or such Lender pursuant to procedures approved by it and provided further without limiting the   foregoing, upon the request of any party, any electronic signature shall be promptly followed by   such manually executed counterpart .          10.24 Judgment Currency.  If, for the purposes of obtaining judgment in any court, it   is necessary to convert a sum due hereunder or any other Credit Document in one currency into  another currency, the rate of exchange used shall be that at which in accordance with normal  banking  procedures  Administrative  Agent  could  purchase  the  first  currency  with  such  other  currency on the Business Day preceding that on which final judgment is given.  The obligation  of Company in respect of any such sum due from it to Administrative Agent, any Issuing Bank  or  any  Lender  hereunder  or  under  the  other  Credit  Documents  shall,  notwithstanding  any  judgment  in  a  currency  (the  “Judgment  Currency”)  other  than  that  in  which  such  sum  is  denominated in accordance with the applicable provisions of this Agreement (the “Agreement  Currency”),  be  discharged  only  to  the  extent  that  on  the  Business  Day  following  receipt  by  Administrative  Agent,  such  Issuing  Bank  or  such  Lender,  as  the case  may  be,  of  any  sum  adjudged to be so due in the Judgment Currency, Administrative Agent, such Issuing Bank or  such Lender, as the case may be, may in accordance with normal banking procedures purchase  the Agreement Currency with the Judgment Currency.  If the amount of the Agreement Currency  so purchased is less than the sum originally due to Administrative Agent, any Issuing Bank or  any  Lender  from  Company  in  the  Agreement  Currency,  Company  agrees, as a separate  obligation  and  notwithstanding  any  such  judgment,  to  indemnify Administrative  Agent,  such  Issuing  Bank  or  such  Lender,  as  the  case  may  be,  against  such  loss.   If  the  amount  of  the  Agreement  Currency  so  purchased  is  greater  than  the  sum  originally  due  to  Administrative  Agent,  any  Issuing  Bank  or  any  Lender  in  such  currency, Administrative  Agent,  such  Issuing  Bank or such Lender, as the case may be, agrees to return the amount of any excess to Company  (or to any other Person who may be entitled thereto under applicable law).          10.25 Cashless Settlement.  Notwithstanding anything to the contrary in this  Agreement,  any  Lender  may  exchange,  continue  or  rollover  all  or  a  portion  of  its  Loans  in  connection with any refinancing, extension, loan modification or similar transaction permitted by                                        -202-                                             105376510     

 

     the  terms  of  this  Agreement,  pursuant  to  a  cashless  settlement mechanism  approved  by   Company, the Administrative Agent and such Lender.          10.26 Acknowledgement and Consent to Bail-In of EEA Financial Institutions.    Notwithstanding  anything  to  the  contrary  in  any  Credit  Document  or  in  any  other  agreement,   arrangement  or  understanding  among  any  parties  to  any  Credit  Document,  each  party  hereto   acknowledges that any liability of any Lender that is an EEA Financial Institution arising under   any  Credit  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   Lender that is an EEA Financial Institution; and                (b)   the  effects  of  any  Bail-In  Action  on  any  such  liability,  including,  if   applicable:                     (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 Credit 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.         10.27 ENTIRE  AGREEMENT.  THIS AGREEMENT AND THE OTHER CREDIT  DOCUMENTS  REPRESENT  THE  FINAL  AGREEMENT  AMONG  THE  PARTIES  AND  MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR  SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES.  THERE ARE NO UNWRITTEN  ORAL AGREEMENTS AMONG THE PARTIES.         10.28 Mortgage  Release.   Upon  the  satisfaction  of  the  conditions  precedent  to  the  effectiveness of this Agreement on the Amendment and Restatement Effective Date, each Lender  hereby  consents  to  the  release  of,  and  hereby  authorizes  the  Collateral  Agent  to  release,  the  Mortgage on the Bristol, Connecticut facility.                                         [Remainder of page intentionally left blank]                                         -203-                                             105376510     

 

         IN  WITNESS  WHEREOF, the parties hereto have caused this Agreement to be duly  executed and delivered by their respective officers thereunto duly authorized as of the date first  written above.                                       COVANTA ENERGY, LLC, A DELAWARE                                      LIMITED LIABILITY COMPANY, AND                                      EACH OF ITS SUBSIDIARIES LISTED ON                                      ANNEX A HERETO                                                                                                                                                         By:   _/s/ Bradford J. Helgeson___________                                            Name: Bradford J. Helgeson                                            Title:  Authorized Officer                                       COVANTA HOLDING CORPORATION, A                                      DELAWARE CORPORATION                                                                                                                                                        By:   _/s/ Bradford J. Helgeson____________                                            Name: Bradford J. Helgeson                                           Title:  Authorized Officer                                             

 

                BANK OF AMERICA, N.A.,  as Administrative Agent, Collateral Agent, Swing  Line Lender, Issuing Bank and a Lender        By:   _/s/ Matthew Walt__________________        Name: Matthew Walt       Title: Director                      

 

                JPMORGAN CHASE BANK, N.A.  as Issuing Bank and a Lender        By:   __/s/ Amit Guar____________________       Name: Amit Guar       Title: Vice President                      

 

                CITIZENS BANK, N.A., as Issuing Bank and a  Lender        By:   _/s/ Barrett D. Bencivenga______       Name: Barrett D. Bencivenga        Title: Managing Director                    

 

                                       CRÉDIT AGRICOLE CORPORATE AND                                      INVESTMENT BANK, as a Lender                                                                                                                                                        By:   _/s/ Mark Koneval___________________                                           Name: Mark Koneval                                            Title: Managing Director                                       By:   _/s/ Gordon Yip___________________                                           Name: Gordon Yip                                           Title: Director                                         -208-                                           105376510    

 

                                       MUFG UNION BANK, as Issuing Bank and a                                      Lender                                                                                                                                                        By:   __/s/ Jeffrey Flagg_____________________                                            Name: Jeffrey Flagg                                           Title: Director                                         -209-                                           105376510    

 

                                                                              SUMITOMO MITSUI BANKING                                      CORPORATION, as Issuing Bank and aLender                                                                                                                                                        By:   _/s/ James Weinstein_________________                                            Name: James Weinstein                                            Title: Managing Director                                         -210-                                           105376510    

 

                                       TD BANK, N.A., as an Issuing Bank and a Lender                                                                                                                                                        By:   _/s/ Vijay Prasad______________________                                           Name: Vijay Prasad                                           Title: Senior Vice President                                         -211-                                           105376510    

 

                                       CAPITAL ONE, NATIONAL ASSOCIATION,                                      as a Lender                                                                                                                                                        By:   __/s/ Michael Sullivan_________________                                            Name: Michael Sullivan                                             Title: Senior Director                                         -212-                                           105376510    

 

                                       COBANK ACB, as a Lender                                                                                                                                                        By:   _/s/ Bryan Ervin____________________                                           Name: Bryan Ervin                                           Title: Vice President                                         -213-                                           105376510    

 

                                       COMPASS BANK, as a Lender                                                                                                                                                        By:   _/s/_Kent Wittman______________                                            Name: Kent Wittman                                           Title: Director LMM & Special Industries                                       -214-                                           105376510    

 

                                       BRANCH BANKING AND TRUST                                      COMPANY, as a Lender                                                                                                                                                        By:   _/s/ Ryan T. Hamilton______________                                            Name: Ryan T. Hamilton                                           Title: Vice President                                         -215-                                           105376510    

 

                                       FIFTH THIRD BANK, as a Lender                                                                                                                                                        By:   _/s/_Justin Brauer______________                                            Name: Justin Brauer                                           Title: Director                                         -216-                                           105376510    

 

                                       HSBC BANK USA, NATIONAL                                      ASSOCIATION, as a Lender                                                                                                                                                        By:   _/s/_Robert J. Levins______________                                           Name: Robert J. Levins                                            Title: Senior Vice President                                         -217-                                           105376510    

 

                                       THE HUNTINGTON NATIONAL BANK, as a                                      Lender                                                                                                                                                        By:   _/s/_Christopher Renyi______________                                           Name: Christopher Renyi                                            Title: Senior Vice President                                         -218-                                           105376510    

 

                                       SIEMENS FINANCIAL SERVICES, INC., as a                                      Lender                                                                                                                                                        By:   _/s/_William D. Jentsch______________                                           Name: William D. Jentsch                                           Title: Vice President                                       By:   _/s/_Melissa J. Brown______________                                            Name: Melissa J. Brown                                            Title: Sr. Transaction Coordinator                                                                                                                                                                                                                                                                                                                                                                -219-                                           105376510    

 

                                               ANNEX A                                 Subsidiaries                  1.   Camden County Energy Recovery Associates, L.P., a New Jersey limited partnership       By its General Partner Covanta Camden GP, LLC and Limited Partner Covanta       Energy, LLC   2.   Covanta 4Recovery Transfer Systems LLC (f/k/a TransRiver Transfer Systems LLC),       a Delaware limited liability company       By its Sole Member Covanta Sustainable Solutions, LLC 3.   Covanta Abington Transfer Solutions LLC, a Delaware limited liability company        By its Sole Member Covanta Energy, LLC 4.   Covanta Alexandria/Arlington, Inc., a Virginia corporation 5.   Covanta ARC LLC, a Delaware limited liability company       By its Sole Member Covanta Energy, LLC 6.   Covanta Bristol, Inc., a Connecticut corporation 7.   Covanta Camden GP, LLC, a Delaware limited liability company       By its Sole Member Covanta Energy, LLC 8.   Covanta Company of SEMASS, LLC (f/k/a Covanta Company of SEMASS, L.P.), a       Delaware limited liability company       By its Sole Member Covanta ARC LLC  9.   Covanta Dade Metals Recovery LLC, a Florida limited liability company       By its Sole Member Covanta Pasco, Inc. 10.   Covanta Delaware Valley OP, LLC, a Delaware limited liability company       By its Sole Member Covanta Energy, LLC 11.   Covanta Energy Americas, Inc., a Delaware corporation 12.   Covanta Energy Group, LLC (f/k/a Covanta Energy Group, Inc.), a Delaware limited       liability company        By its Sole Member Covanta Energy, LLC 13.   Covanta Energy Marketing LLC, a Delaware limited liability company       By its Sole Member Covanta Energy, LLC 14.   Covanta Fairfax, Inc., a Virginia corporation 15.   Covanta Harrisburg, Inc., a Delaware corporation 16.   Covanta Haverhill, Inc., a Massachusetts corporation 17.   Covanta Haverhill Associates, LLC (f/k/a Covanta Haverhill Associates), a       Massachusetts limited liability company       By its Sole Member Covanta Haverhill, Inc. 18.   Covanta Hempstead Company, a New York general partnership       By its General Partners Covanta Hempstead II, LLC and Covanta ARC LLC  19.   Covanta Hempstead II, LLC, a Delaware limited liability company       By its Sole Member Covanta ARC LLC 20.   Covanta Hillsborough, Inc., a Florida corporation 21.   Covanta Honolulu Resource Recovery Venture, LLC (f/k/a Covanta Honolulu       Resource Recovery Venture), a Hawaii limited liability company       By its Sole Member Covanta Projects, LLC                                 Annex A-1                                                                               

 

                22.   Covanta Huntsville, Inc., an Alabama corporation 23.   Covanta Indianapolis, Inc., an Indiana corporation 24.   Covanta Kent, Inc., a Michigan corporation 25.   Covanta Lake II, Inc., a Florida corporation 26.   Covanta Lancaster, Inc., a Pennsylvania corporation 27.   Covanta Lee, Inc., a Florida corporation 28.   Covanta Long Beach Renewable Energy Corp., a Delaware corporation  29.   Covanta MacArthur Renewable Energy, Inc., a New York corporation  30.   Covanta Marion Land Corp., an Oregon corporation 31.   Covanta Marion, Inc., an Oregon corporation 32.   Covanta Metals Marketing LLC, a Delaware limited liability company       By its Sole Member Covanta Lancaster, Inc. 33.   Covanta Montgomery, Inc., Maryland corporation 34.   Covanta Niagara I, LLC (f/k/a Covanta Niagara, L.P.), a Delaware limited liability       company       By its Sole Member Covanta ARC LLC  35.   Covanta Operations of Union, LLC, a New Jersey limited liability company       By its Sole Member Covanta Projects, LLC 36.   Covanta Pasco, Inc., a Florida corporation 37.   Covanta Pittsfield, LLC, a New York limited liability company       By its Sole Member and Manager Covanta Projects, LLC 38.   Covanta Plymouth Renewable Energy, LLC (f/k/a Covanta Plymouth Renewable       Energy Limited Partnership), a Delaware limited liability company        By its Sole Member Covanta Energy, LLC  39.   Covanta Power International Holdings, Inc., a Delaware corporation  40.   Covanta Projects, LLC (f/k/a Covanta Projects, Inc.), a Delaware limited liability       company        By its Sole Member Covanta Energy Group, LLC 41.   Covanta SECONN, LLC, a Delaware limited liability company       By its sole Member Covanta ARC LLC 42.   Covanta Springfield, LLC, a New York limited liability company       By its Sole Member Covanta Projects, LLC 43.   Covanta Stanislaus, Inc., a California corporation 44.   Covanta Sustainable Solutions, LLC (f/k/a Covanta 4Recovery, L.P.), a Delaware       limited liability company       By its Sole Member Covanta ARC LLC 45.   Covanta Tulsa Renewable Energy, LLC (f/k/a Covanta WBH, LLC), a Delaware       limited liability company       By its Sole Member Covanta Lancaster, Inc. 46.   Covanta Warren Energy Resources Co., LLC (f/k/a Covanta Warren Energy       Resources Co., Limited Partnership), a Delaware limited liability company       By its Sole Member Covanta Projects, LLC 47.   Covanta York Renewable Energy LLC, a Delaware limited liability company       By its Sole Member and Manager Covanta Energy, LLC 48.   ECOvanta, LLC, a Delaware limited liability company                                 Annex A-2                                                                               

 

                     By its Sole Member Covanta ARC LLC 49.   MSW Energy Finance Co. II, Inc., a Delaware corporation  50.   Peabody Monofill Associates, Inc., a Massachusetts corporation  51.   SEMASS Partnership, a Massachusetts limited partnership        By its General Partner and Limited Partner Covanta Company of SEMASS, L.P. and       Limited Partner MSW Energy Finance Co. II, Inc.  52.   Chesapeake Waste Solutions LLC, a Delaware limited liability company  53.   Covanta Environmental Solutions Carriers II, LLC, a Wisconsin limited liability       company  54.   Advanced Waste Services of Indiana, LLC, a Wisconsin limited liability company 55.   Waste Recovery Solutions, LLC, a Florida limited liability company  56.   Environmental Pharmaceuticals, LLC, an Arizona limited liability company  57.   Industrial Oil Tank Service Corporation, a New York corporation  58.   GARCO, Inc., a North Carolina corporation 59.   Covanta Environmental Solutions, LLC, a Delaware limited liability company                                                                Annex A-3                                                                               

 

                                                                   APPENDIX A-1                                      TO CREDIT AND GUARANTY AGREEMENT                              Term Loan Commitments                 Lender                 Term Loan Commitment       Pro Rata Share  Bank of America, N.A.                   $  48,000,000.00       12.000000000%  Citizens Bank, N.A.                     $  36,000,000.00         9.000000000%  Crédit Agricole Corporate and           $  36,000,000.00         9.000000000%  Investment Bank  MUFG Union Bank, N.A.                   $  36,000,000.00         9.000000000%  Sumitomo Mitsui Banking Corporation     $  36,000,000.00         9.000000000%  TD Bank, N.A.                           $  32,500,000.00         8.125000000%  Capital One, National Association       $  29,000,000.00         7.250000000%  CoBank, ACB                             $  29,000,000.00         7.250000000%  Compass Bank                            $  29,000,000.00         7.250000000%  JPMorgan Chase Bank, N.A.               $  20,000,000.00         5.000000000%  Branch Banking and Trust Company        $  14,000,000.00         3.500000000%  Fifth Third Bank                        $  14,000,000.00         3.500000000%  HSBC Bank USA, National Association     $  14,000,000.00         3.500000000%  The Huntington National Bank            $  14,000,000.00         3.500000000%  Siemens Financial Services, Inc.        $  12,500,000.00         3.125000000%  Total                                   $400,000,000.00       100.000000000%                                     Appendix A-1                                                                                  

 

                                                                   APPENDIX A-2                                      TO CREDIT AND GUARANTY AGREEMENT                               Revolving Commitments                Lender                  Revolving Commitment      Pro Rata Share  Bank of America, N.A.                    $  87,000,000.00         9.666666667%  JPMorgan Chase Bank, N.A.                $  85,000,000.00         9.444444444%  Citizens Bank, N.A.                      $  79,000,000.00         8.777777778%  Crédit Agricole Corporate and            $  79,000,000.00         8.777777778%  Investment Bank  MUFG Union Bank, N.A.                    $  79,000,000.00         8.777777778%  Sumitomo Mitsui Banking Corporation      $  79,000,000.00         8.777777778%  TD Bank, N.A.                            $  71,500,000.00         7.944444444%  Capital One, National Association        $  63,000,000.00         7.000000000%  CoBank, ACB                              $  63,000,000.00         7.000000000%  Compass Bank                             $  63,000,000.00         7.000000000%  Branch Banking and Trust Company         $  31,000,000.00         3.444444444%  Fifth Third Bank                         $  31,000,000.00         3.444444444%  HSBC Bank USA, National Association      $  31,000,000.00         3.444444444%  The Huntington National Bank             $  31,000,000.00         3.444444444%  Siemens Financial Services, Inc.         $  27,500,000.00         3.055555556%  Total                                    $900,000,000.00       100.000000000%                                                                                  Appendix A-2  

 

                                                                    APPENDIX B                         TO CREDIT AND GUARANTY AGREEMENT               Letter of Credit Commitments          Issuing Bank             Letter of Credit                                   Commitment  Bank of America, N.A.           $203,000,000.00  JPMorgan Chase Bank, N.A.       $  90,000,000.00  Crédit Agricole Corporate and   $  90,000,000.00  Investment Bank  Citizens Bank, N.A.             $  79,000,000.00  Sumitomo Mitsui Banking         $  75,000,000.00  Corporation  MUFG Union Bank, N.A.           $   50,000,000.00  TD Bank, N.A.                   $  13,000,000.00  Total                           $600,000,000.00                         Appendix B  

 

                                                                      APPENDIX C                                       TO CREDIT AND GUARANTY AGREEMENT                                   Notice Addresses   CREDIT PARTIES:    COVANTA ENERGY, LLC   445 South Street   Morristown, NJ 07960   Attention:  Chief Financial Officer    CC:  General Counsel    Telecopier:  862-345-5020    COVANTA HOLDING CORPORATION   445 South Street   Morristown, NJ 07960   Attention:  Chief Financial Officer    CC:  General Counsel    Telecopier:  862-345-5020    CERTAIN SUBSIDIARIES OF COVANTA ENERGY, LLC   AS SET FORTH IN ANNEX A, AS GUARANTORS:   Care of:  Covanta Energy, LLC   445 South Street   Morristown, NJ 07960   Attention:  Chief Financial Officer    CC:  General Counsel    Telecopier:  862-345-5020    ADMINISTRATIVE AGENT, SWING LINE LENDER AND ISSUING BANKS:    ADMINISTRATIVE AGENT:    Administrative Agent’s Office   (for payments and Requests for Credit Extensions):   Bank of America, N.A.   2380 Performance Dr., Building C   Richardson, TX 75082    Attention: Eldred L. Sholars   Telephone: 469-201-8982   Telecopier: 214-290-9485   Electronic Mail:  eldred.sholars@baml.com     USD Wiring Instructions:   Bank of America, N.A.   Account No.:  1366072250600   Attention: Wire Clearing Acct for Syn Loans - LIQ                                     Appendix C-1  

 

   Ref:  Covanta Energy  ABA# 026009593   Other Notices as Administrative Agent:   1)  Bank of America, N.A.     AGENCY MANAGEMENT     2380 Performance Dr., Building C     Mail Code: TX2-984-03-26     Richardson, TX 75082     Attention:  Ronaldo Naval     Telephone:  214-209-1162      Telecopier:  877-511-6124     Electronic Mail:   ronaldo.naval@baml.com    2) With copy to:     BANK OF AMERICA, N.A.     100 N. Tryon St.     Mail Code: NC1-007-17-19     Charlotte, NC 28255     Attention: Matthew N. Walt     Telephone: 980-683-4877     Electronic Mail: matthew.walt@baml.com    SWING LINE LENDER:   BANK OF AMERICA, N.A.  2380 Performance Dr., Building C  Richardson, TX 75082   Attention: Eldred L. Sholars  Telephone: 469-201-8982  Telecopier: 214-290-9485  Electronic Mail:  eldred.sholars@baml.com    USD Wiring Instructions:  Bank of America, N.A.  Account No.:  1366072250600  Attention: Wire Clearing Acct for Syn Loans - LIQ  Ref:  Covanta Energy  ABA# 026009593                                                                Appendix C-2  105376510                                                                                  

 

   ISSUING BANKS:   BANK OF AMERICA, N.A.  Trade Operations  1 Fleet Way  Mail Code: PA6-580-02-30  Scranton, PA 18507  Attention: John P. Yzeik  Telephone: 570-496-9588  Telecopier: 800-755-8743  Electronic Mail:  john.p.yzeik@baml.com   JPMORGAN CHASE BANK, N.A.  JPM-Bangalore Loan Operations  500 Stanton Christiana Road, NCC 5, Floor 01  Newark, DE 19713-2107  Attention:  Deepak Krishna  Telephone:  91-80-6790-5013  Telecopier:  204-244-3885 and                  12012443885@docs.ldsprod.com  Electronic Mail:  na.cpg@jpmorgan.com     CRÉDIT AGRICOLE CORPORATE AND INVESTMENT BANK  1301 Avenue of the Americas  New York, NY 10019  Attention:  Amit Mehta  Telephone:  212-261-3549  Facsimile:   917-849-6348  Electronic Mail:  usloanops4@ca-cib.com    CITIZENS BANK, N.A.   20 Cabot Road  Medford, MA 02155  Attention:  Winny Wan  Telephone:  781-655-4347  Facsimile:   781-471-1568  Electronic Mail:  DL-INTLSBLCPART@cfgcustomers.com    MUFG UNION BANK, N.A.  Commercial Loan Operations  1980 Saturn Street  Monterey Park, CA 91754  Facsimile:  1-800-446-9954                     1-323-724-6198  Electronic Mail:  #CLO_synd@unionbank.com                                       Appendix C-3  105376510                                                                                  

 

     SUMITOMO MITSUI BANKING CORPORATION  Attention:  Maria Villaverde  Telephone:  201-761-8706  Telecopier:  212-224-4391  Electronic Mail:  maria_villaverde@smbcgroup.com    TD BANK, N.A.  Specialized Servicing   6000 Atrium Way  Mt. Laurel, NJ 08054  Telephone:  856-533-2183  Facsimile:  856-533-7128  Electronic Mail:  specializedservicing@td.com                                            Appendix C-4  105376510                                                                                  

 

                                                        SCHEDULE 1.1(b)                                                  TO CREDIT AGREEMENT                                                                                                 EXCLUDED SUBSIDIARIES   Schedule 1.1(b) – 1       Covanta Delano, Inc.      Covanta Hydro Operations West, Inc.     Covanta Mendota, LLC      Koma Kulshan Associates      South Fork II Associates Limited Partnership     Covanta 4Recovery Philadelphia LLC     Covanta B-3, LLC      Covanta Hudson Valley Renewable Energy LLC     Covanta Projects of Wallingford, LLC     Covanta Waste to Energy of Italy, Inc.     Mount Kisco Transfer Station, Inc.     Recoil, LLC      Covanta Hennepin Energy Resource Co, LLC     Covanta Warren Energy Resources Co, LLC    Schedule 1.1(b) – 2       Covanta Babylon, Inc.      Covanta Dade Renewable Energy, LLC     Covanta Delaware Valley, L.P.     Covanta Delaware Valley II, LLC     Covanta Essex Company      Covanta Essex LLC      Covanta Essex II, LLC      Covanta Huntington, LLC     Covanta Onondaga Two LLC     Covanta Onondaga Limited Partnership     Covanta Union, LLC                                                                                                         SCHEDULE 1.1(b)- 1   

 

                                                                          SCHEDULE 1.1(c)                                                                    TO CREDIT AGREEMENT                                                                                                                            EXISTING LETTERS OF CREDIT                                                               LC         Maturity      Customer                  Issuer       Product Type      Number         Date         Amount                                                                                                     Covanta Energy, LLC      JPM Chase    STANDBY-FIN    CTCS-642337      6/24/2019  100,000.00                                                                                                Covanta Energy, LLC       JPM Chase   STANDBY-PERF    CTCS-642330      6/24/2019  6,071,264.00                                                                                                Covanta Energy, LLC       JPM Chase    STANDBY-FIN    CTCS-212474      11/4/2018  3,000,000.00                                                                                                Covanta Energy, LLC       JPM Chase    STANDBY-FIN    CTCS - 634326    3/31/2019  2,100,000.00                                                                                                   Covanta Energy, LLC       JPM Chase   STANDBY-PERF    CTCS - 325697    4/30/2019  107,100.00                                                                                                Covanta Energy, LLC       JPM Chase    STANDBY-FIN    CTCS- 285119     1/31/2019  1,875,000.00                                                                                                   Covanta Energy, LLC       JPM Chase    STANDBY-FIN    CTCS-280437      10/31/2018 500,000.00                                                                                                   Covanta Energy, LLC       JPM Chase   STANDBY-PERF    TFTS-239018      12/31/2018 285,000.00                                                                                                Covanta Energy, LLC    Bank of America STANDBY-PERF   68074236         4/15/2019  2,500,000.00                                                                                               Covanta Energy, LLC   Bank of America STANDBY-FIN    68076988          9/1/2018  25,000,000.00                                                                                              Covanta Energy, LLC    Bank of America STANDBY-FIN    68077096         9/30/2018  14,494,572.48                                                                                               Covanta Energy, LLC   Bank of America STANDBY-PERF   68096595          7/2/2019  70,000,000.00                                                                                                Covanta Energy, LLC    Bank of America STANDBY-PERF   68099283         10/1/2018  7,800,000.00                                                                                                    Covanta Energy, LLC   Bank of America STANDBY-FIN    68100797         12/13/2018 121,500.00                                                                                                   Covanta Energy, LLC    Bank of America STANDBY-FIN    68120746         9/30/2018  390,253.00                                                                                                    Covanta Energy, LLC   Bank of America STANDBY-FIN    68124944         3/31/2019  900,000.00                                                                                                    Covanta Energy, LLC   Bank of America STANDBY-PERF   68139000         3/15/2019  200,000.00                                                        G203305/                                 Covanta Energy, LLC      TD Bank     STANDBY-PERF    ML20007460       5/15/2019  3,058,647.03                                                        G203725/                                Covanta Energy, LLC       TD Bank      STANDBY-FIN    ML20007688       10/25/2018 9,475,965.41                                                                                              Covanta Energy, LLC     Credit Agricole STANDBY-FIN   701238039        1/13/2019  11,403,348.00                                                                                              Covanta Energy, LLC     Credit Agricole STANDBY-FIN   801238057        1/12/2019  23,605,487.77                                                        LG/MIS/NY- Covanta Energy, LLC        SMBC       STANDBY-PERF    072738           7/14/2018  $67,339,178.48                                                                                                                                                                 Grand Total LC's                                                                $250,327,316.17                                       SCHEDULE 1.1(c)- 1   

 

                                                              SCHEDULE 1.1(d)                                                        TO CREDIT AGREEMENT                                                                                                             FOREIGN SUBSIDIARIES   1.    Covanta Burnaby Renewable Energy, ULC (Canada)  2.    Covanta Durham York Renewable Energy Limited Partnership (Canada)  3.    Covanta Energy (Ireland) Limited (Ireland)  4.    Covanta Energy Asia Holdings Ltd. (Mauritius)  5.    Covanta Energy Asia Pacific Holdings Limited (China)  6.    Covanta Energy Asia Pacific Ltd. (Hong Kong)  7.    Covanta Energy China (Delta) Limited (Mauritius)  8.    Covanta Energy China (Gamma) Limited (Mauritius)  9.    Covanta Energy India (Balaji) Limited (Mauritius)  10.   Covanta Energy International Investments Limited (Mauritius)  11.   Covanta Energy Limited (United Kingdom)  12.   Covanta Energy Philippines Holdings, Inc. (Philippines)  13.   Covanta Europe Engineering Limited (Ireland)  14.   Covanta Europe Holdings S.a.r.l. (Luxembourg)  15.   Covanta Europe Operations Limited (Ireland)  16.   Covanta Five Limited (Mauritius)  17.   Covanta Holding UK Limited (United Kingdom)  18.   Covanta Ince Park Limited (United Kingdom)  19.   Covanta Rookery South Limited (United Kingdom)  20.   Covanta Waste to Energy Asia Limited (Hong Kong)  21.   Covanta Waste to Energy Asia Ltd. (Mauritius)  22.   Edison (Bataan) Cogeneration Corporation (Philippines)  23.   Enereurope Holdings III, B.V. (Netherlands)  24.   Hidro Operaciones Don Pedro S.A. (Costa Rica)  25.   Olmec Insurance Ltd. (Bermuda)  26.   TransRiver Canada Incorporated (Canada)  31.   Covanta Environmental Solutions, Inc. (Canada)  32.   Covanta Environmental Solutions Ontario, Inc. (Canada)  33.   Return-Tech Inc. (Canada)  34.   35 Industrial Inc. (Canada)  35.   Covanta Luxembourg S.A. R.L. (Luxembourg)  36.   Covanta Luxembourg Global Holding S.A. R.L. (Luxembourg)  37.   Covanta Luxembourg Holding S.A. R.L. (Luxembourg)  38.   Covanta Holding 2 UK Limited (United Kingdom)  39.   Covanta Holding 3 UK Limited (United Kingdom)  40.   Covanta Protos Development Limited (United Kingdom)  41.   Covanta Newhurst Development Limited (United Kingdom)  42.   Covanta Carribean SRL (Barbados)  43.   Covanta Green Rookery Holding Limited (United Kingdom)  44.   Covanta Green UK Limited (United Kingdom)  45.   Rookery South Holding Limited (United Kingdom)                                 SCHEDULE 1.1(d)- 1  

 

                                                              SCHEDULE 1.1(e)                                                        TO CREDIT AGREEMENT                                                                                                     MATERIAL RESTRICTED SUBSIDIARIES   SEMASS Partnership  Covanta Company of SEMASS, LLC  Covanta ARC LLC  Covanta Hempstead Company  Covanta Hempstead II, LLC  Covanta Indianapolis, Inc.  Covanta Projects, LLC  Covanta Energy Group, LLC  Covanta Haverhill, Inc.  Covanta Pasco, Inc.  Covanta Fairfax, Inc.                                      SCHEDULE 1.1(e)- 1  

 

                                                                         SCHEDULE 4.1                                                                TO CREDIT AGREEMENT                                                                                                                    JURISDICTIONS OF ORGANIZATION       COVANTA HOLDING CORPORATION, COVANTA ENERGY, LLC AND ITS                                      SUBSIDIARIES                                  Company Name                               Jurisdiction                                                                                  of                                                                           Incorporation 1.    Camden County Energy Recovery Associates, L.P.                       New Jersey  2.    Covanta Camden GP, LLC                                                Delaware  3.    Covanta 4Recovery Philadelphia LLC (f/k/a TransRiver Philadelphia LLC)  Delaware  4.    Covanta 4Recovery Transfer Systems LLC (f/k/a TransRiver Transfer Systems Delaware        LLC)  5.    Covanta Abington Transfer Solutions LLC                               Delaware  6.    Covanta Alexandria/Arlington, Inc.                                    Virginia  7.    Covanta ARC LLC                                                       Delaware  8.    Covanta B-3, LLC (f/k/a eco/B-3, LLC)                                 New York  9.    Covanta Babylon, Inc.                                                 New York  10.   Covanta Bristol, Inc.                                                Connecticut  11.   Covanta Company of SEMASS, LLC (f/k/a Covanta Company of SEMASS,      Delaware        L.P.)  12.   Covanta Connecticut (S.E.), LLC                                       Delaware  13.   Covanta Dade Metals Recovery LLC                                       Florida  14.   Covanta Dade Renewable Energy, LLC (f/k/a Covanta Dade Renewable       Florida        Energy Ltd.)  15.   Covanta Delano, Inc.                                                  Delaware  16.   Covanta Delaware Valley II, LLC                                       Delaware  17.   Covanta Delaware Valley OP, LLC                                       Delaware  18.   Covanta Delaware Valley, L.P.                                         Delaware  19.   Covanta Energy Americas, Inc.                                         Delaware  20.   Covanta Energy, LLC (f/k/a Covanta Energy Corporation)                Delaware  21.   Covanta Energy Group, LLC (f/k/a Covanta Energy Group, Inc.)          Delaware  22.   Covanta Energy Marketing LLC                                          Delaware  23.   Covanta Environmental Solutions, LLC                                  Delaware  24.   Covanta Essex LLC                                                     Delaware  25.   Covanta Essex II, LLC                                                 Delaware  26.   Covanta Essex Company                                                New Jersey  27.   Covanta Fairfax, Inc.                                                 Virginia  28.   Covanta Harrisburg, Inc.                                              Delaware  29.   Covanta Haverhill Associates, LLC (f/k/a Covanta Haverhill Associates)  Massachusetts  30.   Covanta Haverhill, Inc.                                             Massachusetts  31.   Covanta Hempstead II, LLC                                             Delaware  32.   Covanta Hempstead Company                                             New York  33.   Covanta Hennepin Energy Resource Co, LLC  (f/k/a Covanta Hennepin Energy Delaware        Resource Co., Limited Partnership) 34.   Covanta Hillsborough, Inc.                                             Florida                                      SCHEDULE 4.1- 1   

 

                                        Company Name                               Jurisdiction                                                                                  of                                                                           Incorporation 35.   Covanta Holding Corporation                                           Delaware   36.   Covanta Honolulu Resource Recovery Venture, LLC (f/k/a Covanta Honolulu Hawaii        Resource Recovery Venture)  37.   Covanta Hudson Valley Renewable Energy LLC                            Delaware  38.   Covanta Huntington, LLC (f/k/a Covanta Huntington Limited Partnership)  Delaware  39.   Covanta Huntsville, Inc.                                              Alabama  40.   Covanta Hydro Operations West, Inc.                                   Delaware  41.   Covanta Indianapolis, Inc.                                             Indiana  42.   Covanta Kent, Inc.                                                    Michigan  43.   Covanta Lake II, Inc.                                                  Florida  44.   Covanta Lancaster, Inc.                                             Pennsylvania  45.   Covanta Lee, Inc.                                                      Florida  46.   Covanta Long Beach Renewable Energy Corp.                             Delaware  47.   Covanta MacArthur Renewable Energy, Inc.                              New York  48.   Covanta Marion Land Corp.                                              Oregon  49.   Covanta Marion, Inc.                                                   Oregon  50.   Covanta Mendota, LLC (f/k/a Covanta Mendota, L.P.)                    California  51.   Covanta Metals Marketing LLC                                          Delaware  52.   Covanta Montgomery, Inc.                                              Maryland  53.   Covanta Niagara I, LLC (f/k/a Covanta Niagara, L.P.)                  Delaware  54.   Covanta Onondaga Limited Partnership                                  Delaware  55.   Covanta Onondaga Two LLC (f/k/a Covanta Onondaga Two Corp.)           Delaware  56.   Covanta Operations of Union, LLC                                     New Jersey  57.   Covanta Pasco, Inc.                                                    Florida  58.   Covanta Pittsfield, LLC (f/k/a eco/Pittsfield, LLC)                   New York  59.   Covanta Plymouth Renewable Energy, LLC (f/k/a Covanta Plymouth        Delaware        Renewable Energy Limited Partnership) 60.   Covanta Power International Holdings, Inc.                            Delaware  61.   Covanta Projects of Wallingford, LLC (f/k/a Covanta Projects of Wallingford, Delaware        L.P.)  62.   Covanta Projects, LLC (f/k/a Covanta Projects, Inc.)                  Delaware  63.   Covanta SECONN LLC                                                    Delaware  64.   Covanta Southeastern Connecticut Company                             Connecticut  65.   Covanta Southeastern Connecticut, L.P.                                Delaware  66.   Covanta Springfield, LLC                                              New York  67.   Covanta Stanislaus, Inc.                                              California  68.   Covanta Sustainable Solutions, LLC (f/k/a Covanta 4Recovery, L.P.)    Delaware  69.   Covanta Tulsa Renewable Energy, LLC (f/k/a Covanta WBH, LLC)          Delaware  70.   Covanta Union, LLC (f/k/a Covanta Union, Inc.)                        Delaware  71.   Covanta Warren Energy Resources Co., LLC (f/k/a Covanta Warren Energy Delaware        Resources Co., Limited Partnership) 72.   Covanta Waste to Energy of Italy, Inc.                                Delaware                                      SCHEDULE 4.1 - 2   

 

                                        Company Name                               Jurisdiction                                                                                  of                                                                           Incorporation 73.   Covanta York Renewable Energy LLC                                     Delaware  74.   ECOvanta, LLC                                                         Delaware  75.   GARCO, Inc.                                                         North Carolina  76.   Koma Kulshan Associates                                               California  77.   Mount Kisco Transfer Station, Inc.                                   New York  78.   MSW Energy Finance Co. II, Inc.                                       Delaware  79.   Peabody Monofill Associates, Inc.                                   Massachusetts  80.   SEMASS Partnership                                                  Massachusetts  81.   South Fork II Associates Limited Partnership                         Washington  82.   Covanta Burnaby Renewable Energy, ULC (f/k/a Montenay Inc.)            Canada  83.   Covanta Durham York Renewable Energy Limited Partnership               Canada  84.   Covanta Energy Asia Holdings Ltd. (f/k/a Covanta Chinese Investments Ltd.)  Mauritius  85.   Covanta Energy Asia Pacific Holdings Ltd.                              China  86.   Covanta Energy Asia Pacific Ltd.                                     Hong Kong  87.   Covanta Energy China (Delta) Ltd.                                     Mauritius  88.   Covanta Energy China (Gamma) Ltd.                                     Mauritius  89.   Covanta Europe Engineering Limited                                     Ireland  90.   Covanta Energy India (Balaji) Limited                                 Mauritius  91.   Covanta Energy International Investments Limited (f/k/a Covanta Energy India Mauritius        Investments, Ltd.)  92.   Covanta Energy (Ireland) Limited                                       Ireland  93.   Covanta Energy Limited                                                 United                                                                              Kingdom 94.   Covanta Energy Philippine Holdings, Inc.                             Philippines  95.   Covanta Europe Holdings S.a.r.l.                                     Luxembourg  96.   Covanta Europe Operations Limited                                      Ireland  97.   Covanta Five Ltd.                                                     Mauritius  98.   Covanta Holding Limited                                                United                                                                              Kingdom 99.   Covanta Ince Park Limited                                              United                                                                              Kingdom 100.  Covanta Rookery South Limited                                          United                                                                              Kingdom 101.  Covanta Waste to Energy Asia Limited                                 Hong Kong  102.  Covanta Waste to Energy Asia Ltd. (f/k/a Covanta Energy China (Beta) Ltd.)  Mauritius  103.  Edison (Bataan) Cogeneration Corporation                             Philippines  104.  Enereurope Holdings III, B.V.                                        Netherlands  105.  Hidro Operaciones Don Pedro S.A.                                     Costa Rica  106.  Olmec Insurance Ltd.                                                  Bermuda  107.  TransRiver Canada Incorporated                                         Canada  108.  Covanta Environmental Solutions, Inc.                                  Canada  109.  Covanta Environmental Solutions Ontario, Inc.  Canada                                      SCHEDULE 4.1 - 3   

 

                                        Company Name                               Jurisdiction                                                                                  of                                                                           Incorporation 110.  Return-Tech Inc.                                                       Canada  111.  35 Industrial Inc.                                                     Canada  112.  Covanta Luxembourg S.A. R.L.                                         Luxembourg  113.  Covanta Luxembourg Global Holding S.A. R.L.                          Luxembourg  114.  Covanta Luxembourg Holding S.A. R.L.                                 Luxembourg  115.  Covanta Holding 2 UK Limited                                           United                                                                              Kingdom 116.  Covanta Holding 3 UK Limited                                           United                                                                              Kingdom 117.  Covanta Protos Development Limited                                     United                                                                              Kingdom 118.  Covanta Newhurst Development Limited                                   United                                                                              Kingdom 119.  Covanta Carribean SRL                                                 Barbados  120.  Chesapeake Waste Solutions LLC                                        Delaware  121.  Covanta Environmental Solutions Carriers II, LLC                      Wisconsin  122.  Advanced Waste Services of Indiana, LLC                              Wisconsin  123.  Recoil, LLC                                                         Pennsylvania  124.  Waste Recovery Solutions, LLC                                          Florida  125.  Environmental Pharmaceuticals, LLC                                     Arizona  126.  Industrial Oil Tank Service Corporation                               New York  127.  Covanta OPW Associates, Inc.                                         Connecticut  128.  Covanta Wallingford Associates, Inc.                                 Connecticut  129.  Covanta TARTECH LLC                                                   Delaware  130.  GARCO, Inc.                                                         North Carolina  131.  Covanta Green Rookery Holding Limited                                  United                                                                              Kingdom 132.  Covanta Green UK Limited                                               United                                                                              Kingdom 133.  Rookery South Holding Limited                                          United                                                                              Kingdom                                      SCHEDULE 4.1 - 4   

 

                                                                                              SCHEDULE 4.2                                                                                  TO CREDIT AGREEMENT                                                 SUBSIDIARIES                                   CAPITAL STOCK AND OWNERSHIP                                                                          Company Name              Jurisdiction         Capital            Description of Anticipated                                           of            Stock or       Ownership As of the Closing Date                                   Incorporation          Equity                                                         Interests   1.    Camden County Energy       New Jersey          Limited         1% GP interest owned by Covanta Camden GP,        Recovery Associates, L.P.                      Partnership     LLC and 99% LP interest owned by Covanta                                                                       Energy, LLC 2.    Covanta 4Recovery          Delaware            Limited         100% owned by Covanta Sustainable Solutions,        Philadelphia LLC (f/k/a                        Liability       LLC         TransRiver Philadelphia                        Company        LLC)  3.    Covanta 4Recovery          Delaware            Limited         100% owned by Covanta Sustainable Solutions,        Transfer Systems LLC                           Liability       LLC        (f/k/a TransRiver Transfer                     Company        Systems LLC)  4.    Covanta Abington Transfer  Delaware            Limited         100% owned by Covanta Energy, LLC        Solutions LLC                                  Liability                                                       Company 5.    Covanta                    Virginia            Issued: 1,000   100% owned by Covanta Projects, LLC        Alexandria/Arlington, Inc.                     shares 6.    Covanta ARC LLC            Delaware            Limited         100% by Covanta Energy, LLC                                                        Liability                                                       Company 7.    Covanta B-3, LLC (f/k/a    New York            Limited         100% owned by Covanta Projects, LLC        eco/B-3, LLC)                                  Liability                                                       Company 8.    Covanta Babylon, Inc.      New York            Issued: 100     100% owned by Covanta Projects, LLC                                                       shares 9.    Covanta Bristol, Inc.      Connecticut         Issued: 100     100% owned by Covanta Projects, LLC                                                       shares 10.   Covanta Camden GP, LLC     Delaware            Limited         100% owned by Covanta Energy,  LLC                                                       Liability                                                       Company 11.   Covanta Company of         Delaware            Limited         100% owned by Covanta ARC LLC         SEMASS, LLC (f/k/a                             Liability        Covanta Company of                             Company        SEMASS, L.P.)          12.   Covanta Connecticut (S.E.), Delaware           Limited         100% owned by Covanta SECONN LLC        LLC                                            Liability                                                       Company 13.   Covanta Dade Metals        Florida             Limited         100% owned by Covanta Pasco, Inc.        Recovery LLC                                   Liability                                                       Company  14.   Covanta Dade Renewable     Florida             Limited         100% owned by Covanta Pasco, Inc.         Energy, LLC (f/k/a Covanta                     Liability        Dade Renewable Energy                          Company        Ltd.)  15.   Covanta Delano, Inc.       Delaware            Issued:  1,000  100% owned by Covanta Energy Americas, Inc.                                                        shares 16.   Covanta Delaware Valley    Delaware            Limited         100% owned by Covanta ARC LLC         II, LLC                                        Liability                                                       Company                                                SCHEDULE 4.2 - 1       

 

                    Company Name              Jurisdiction         Capital            Description of Anticipated                                           of            Stock or       Ownership As of the Closing Date                                   Incorporation          Equity                                                         Interests   17.   Covanta Delaware Valley    Delaware            Limited         100% owned by Covanta Energy, LLC        OP, LLC                                        Liability                                                       Company 18.   Covanta Delaware Valley,   Delaware            Limited         1% owned by Covanta Delaware Valley II, LLC        L.P.                                           Partnership     as LP and  Covanta ARC LLC owns 50% as GP                                                                       interest and 49% as LP interest   19.   Covanta Energy Americas,   Delaware            Issued: 1,000   100% owned by Covanta Projects, LLC         Inc.                                           shares 20.   Covanta Energy Group,      Delaware            Limited         100% owned by Covanta Energy, LLC        LLC (f/k/a Covanta Energy                      Liability        Group, Inc.)                                   Company 21.   Covanta Energy Marketing   Delaware            Limited         100% owned by Covanta Energy, LLC        LLC                                            Liability                                                       Company 22.   Covanta Environmental      Delaware            Limited         100% owned by Covanta Energy, LLC        Solutions, LLC                                 Liability                                                       Company 23.   Covanta Essex LLC          Delaware            Limited         100% owned by Covanta ARC LLC                                                       Liability                                                       Company 24.   Covanta Essex II, LLC      Delaware            Limited         100% owned by Covanta Essex LLC                                                       Liability                                                       Company 25.   Covanta Essex Company      New Jersey          General         99% owned by Covanta Essex LLC ; 1% owned                                                       Partnership     by Covanta Essex II, LLC  26.   Covanta Fairfax, Inc.      Virginia            Issued: 100     100% owned by Covanta Projects, LLC                                                        shares 27.   Covanta Harrisburg, Inc.   Delaware            Issued: 100     100% owned by Covanta Projects, LLC                                                        shares 28.   Covanta Haverhill          Massachusetts       Limited         100% owned by Covanta Haverhill, Inc.        Associates, LLC (f/k/a                         Liability               Covanta Haverhill                              Company        Associates)  29.   Covanta Haverhill, Inc.    Massachusetts       Issued: 100     100% owned by Covanta Projects, LLC                                                       shares 30.   Covanta Hempstead II, LLC   Delaware           Limited         100% owned by  Covanta ARC LLC                                                        Liability                                                       Company 31.   Covanta Hempstead          New York            General         99% owned by Covanta ARC LLC as GP; 1%        Company                                        Partnership     owned by Covanta Hempstead II, LLC as GP 32.   Covanta Hennepin Energy    Delaware            Limited         100% owned by Covanta Projects,  LLC         Resource Co, LLC (f/k/a                        Liability        Covanta Hennepin Energy                        Company         Resource Co., Limited        Partnership)  33.   Covanta Hillsborough, Inc.  Florida            Issued:  100    100% owned by Covanta Projects, LLC                                                        shares 34.   Covanta Honolulu Resource  Hawaii              Limited         100% owned by Covanta Projects, LLC         Recovery Venture, LLC                          Liability        (f/k/a Covanta Honolulu                        Company         Resource Recovery        Venture)  35.   Covanta Hudson Valley      Delaware            Limited         100% owned by Covanta Energy, LLC         Renewable Energy LLC                           Liability                                                 SCHEDULE 4.2 - 2   

 

                    Company Name              Jurisdiction         Capital            Description of Anticipated                                           of            Stock or       Ownership As of the Closing Date                                   Incorporation          Equity                                                         Interests                                                        Company 36.   Covanta Huntington, LLC    Delaware            Limited         100% owned by Covanta Projects, LLC         (f/k/a Covanta Huntington                      Liability        Limited Partnership)                           Company 37.   Covanta Huntsville, Inc.   Alabama             Issued: 100     100% owned by Covanta Projects, LLC                                                        shares 38.   Covanta Hydro Operations   Delaware            Issued: 100     100% owned by Covanta Energy Americas, Inc.        West, Inc.                                     shares 39.   Covanta Indianapolis, Inc.  Indiana            Issued: 100     100% owned by Covanta Projects, LLC                                                         shares 40.   Covanta Kent, Inc.         Michigan            Issued: 100     100% owned by Covanta Projects, LLC                                                       shares 41.   Covanta Lake II, Inc.      Florida             Issued: 750     100% Owned by Covanta Projects, LLC                                                        shares common                                                       Issued: 250                                                       shares preferred 42.   Covanta Lancaster, Inc.    Pennsylvania        Issued: 100     100% owned by Covanta Projects, LLC                                                        shares 43.   Covanta Lee, Inc.          Florida             Issued: 100     100% owned by Covanta Projects, LLC                                                        shares 44.   Covanta Long Beach         Delaware            Issued: 100     100% owned by Covanta Energy, LLC        Renewable Energy Corp.                         shares 45.   Covanta MacArthur          New York            Issued: 100     100% owned by Covanta Energy, LLC        Renewable Energy, Inc.                         shares 46.   Covanta Marion Land Corp.  Oregon              Issued: 1000    100% owned by Covanta Projects, LLC                                                        common shares                                                       300 preferred                                                       shares 47.   Covanta Marion, Inc.       Oregon              Issued: 10      100% owned by Covanta Projects, LLC                                                        shares 48.   Covanta Mendota, LLC       California          Limited         100% owned by Covanta Energy Americas, Inc.         (f/k/a Covanta Mendota,                        Liability        L.P.)                                          Company 49.   Covanta Metals Marketing   Delaware            Limited         100% owned by Covanta Lancaster, Inc.        LLC                                            Liability                                                       Company 50.   Covanta Montgomery, Inc.   Maryland            Issued: 100     100% owned by Covanta Projects, LLC                                                        shares 51.   Covanta Niagara I, LLC     Delaware            Limited         100% owned by Covanta ARC LLC         (f/k/a Covanta Niagara,                        Liability        L.P.)                                          Company 52.   Covanta Onondaga Limited   Delaware            Limited         Covanta Projects, LLC and Covanta Onondaga        Partnership                                    Partnership,    Two LLC collectively own all General                                                       collectively    Partnership interests                                                       owned by                                                       Covanta                                                       Projects, LLC                                                       and Covanta                                                       Onondaga Two                                                       as General                                                       Partners 53.   Covanta Onondaga Two       Delaware            Limited         100% owned by Covanta Projects, LLC        LLC (f/k/a Covanta                             Liability        Onondaga Two Corp.)                            Company                                                SCHEDULE 4.2 - 3   

 

                    Company Name              Jurisdiction         Capital            Description of Anticipated                                           of            Stock or       Ownership As of the Closing Date                                   Incorporation          Equity                                                         Interests   54.   Covanta Operations of      New Jersey          Limited         100% owned by Covanta Projects, LLC         Union, LLC                                     Liability                                                       Company 55.   Covanta Pasco, Inc.        Florida             Issued: 100     100% owned by Covanta Projects, LLC                                                       shares 56.   Covanta Pittsfield, LLC    New York            Limited         100% owned by Covanta Projects, LLC        (f/k/a eco/Pittsfield, LLC)                    Liability                                                       Company 57.   Covanta Plymouth           Delaware            Limited         100% ownership by Covanta Energy, LLC         Renewable Energy, LLC                          Liability        (f/k/a Covanta Plymouth                        Company        Renewable Energy Limited        Partnership)  58.   Covanta Power              Delaware            Issued: 1,000   100% owned by Covanta Energy Americas, Inc.        International Holdings, Inc.                   shares 59.   Covanta Projects of        Delaware            Limited         100% owned by Covanta Projects, LLC        Wallingford, LLC (f/k/a                        Liability        Covanta Projects of                            Company        Wallingford, L.P.)  60.   Covanta Projects, LLC      Delaware            Limited         100% owned by Covanta Energy Group, LLC        (f/k/a Covanta Projects,                       Liability        Inc.)                                          Company 61.   Covanta SECONN LLC         Delaware            Limited         100% owned by Covanta ARC LLC                                                       Liability                                                       Company 62.   Covanta SEMASS, LLC        Delaware            Limited         100% owned by Covanta ARC LLC         (f/k/a Covanta SEMASS,                         Liability        L.P.)                                          Company 63.   Covanta Southeastern       Connecticut         General         1% owned by Covanta Connecticut (S.E.), LLC        Connecticut Company                            Partnership     and 99% owned by Covanta Southeastern                                                                       Connecticut, L.P. 64.   Covanta Southeastern       Delaware            Limited         99% owned by Covanta SECONN LLC and 1%        Connecticut, L.P.                              Partnership     owned by Covanta Connecticut (S.E.), LLC 65.   Covanta Springfield, LLC   New York            Limited         100% owned by Covanta Projects, LLC                                                        Liability                                                       Company 66.   Covanta Stanislaus, Inc.   California          Issued: 100     100% owned by Covanta Projects, LLC                                                        shares 67.   Covanta Sustainable        Delaware            Limited         100% owned by Covanta ARC LLC        Solutions, LLC (f/k/a                          Liability        Covanta 4Recovery, L.P.)                       Company 68.   Covanta Tulsa Renewable    Delaware            Limited         100% owned by Covanta Lancaster, Inc.        Energy, LLC (f/k/a Covanta                     Liability        WBH, LLC)                                      Company 69.   Covanta Union, LLC (f/k/a  Delaware            Limited         100% owned by Covanta Projects, LLC         Covanta Union, Inc.)                           Liability                                                       Company  70.   Covanta Warren Energy      Delaware            Limited         100% owned by Covanta Projects, LLC         Resources Co., LLC (f/k/a                      Liability        Covanta Warren Energy                          Company        Resources Co., Limited        Partnership)  71.   Covanta Waste to Energy of Delaware            Issued: 100     100% owned by Covanta Power International        Italy, Inc.                                    shares          Holdings, Inc.                                                SCHEDULE 4.2 - 4   

 

                    Company Name              Jurisdiction         Capital            Description of Anticipated                                           of            Stock or       Ownership As of the Closing Date                                   Incorporation          Equity                                                         Interests   72.   Covanta York Renewable     Delaware            Limited         100% owned by Covanta Energy, LLC          Energy LLC                                     Liability                                                       Company 73.   ECOvanta, LLC              Delaware            Limited         100% owned by Covanta ARC LLC                                                        Liability                                                       Company 74.   GARCO, Inc.                North Carolina      Issued:  1,000  100% owned by Covanta Environmental                                                       shares          Solutions, LLC 75.   Koma Kulshan Associates    California          Limited         48.99% owned by Covanta Energy Americas,                                                       Partnership     Inc. as LP interest and 1% GP interest and 50%                                                                       owned by third party  76.   Mount Kisco Transfer       New York            Issued: 10      100% owned by Covanta Sustainable Solutions,        Station, Inc.                                  shares          LLC  77.   MSW Energy Finance Co.     Delaware            Issued: 3000    100% owned by Covanta Energy, LLC         II, Inc.                                       shares   78.   Peabody Monofill           Massachusetts       Issued: 10,000  100% owned by Covanta Projects, LLC         Associates, Inc.                               shares 79.   SEMASS Partnership         Massachusetts       Limited         98% interest owned by Covanta Company of                                                       Partnership     SEMASS, LLC in LP interest and 1% in GP                                                                       interest and 1% owned by MSW Energy Finance                                                                       Co. II, Inc. as LP interest  80.   South Fork II Associates   Washington          Limited         Covanta Energy Americas, Inc. 49.9995%        Limited Partnership                            Partnership     interest as GP and .0005% as LP interest;                                                                       50.0095% owned by third party  81.   Covanta Burnaby            Canada              Issued: 10,500  100% owned by Covanta Energy, LLC        Renewable Energy, ULC                          shares        (f/k/a Montenay Inc.)  82.   Covanta Durham York        Canada              Limited         Covanta Burnaby Renewable Energy, ULC 99%        Renewable Energy Limited                       Partnership     LP interest, TransRiver Canada Incorporated 1%        Partnership                                                    GP interest 83.   Covanta Energy Asia        Mauritius           Issued:         100% owned by Covanta Energy International        Holdings Ltd. (f/k/a                           42,822,195      Investments Limited (f/k/a Covanta Energy India        Covanta Chinese                                shares at U.S.  Investments, Ltd.)        Investments Ltd.)                              $1.00 par value 84.   Covanta Energy Asia        China               Issued: 100     100% owned by Covanta Waste to Energy Asia        Pacific Holdings Ltd.                          shares each at  Limited                                                       HK $10.00 par                                                       value 85.   Covanta Energy Asia        Hong Kong           Issued: 32      100% Covanta Power International Holdings,        Pacific Limited                                shares each at  Inc.                                                       HK $10.00 par                                                       value 86.   Covanta Energy China       Mauritius           Issued:         100% owned by Covanta Energy Asia Holdings        (Delta) Ltd.                                   12,150,002      Ltd. (f/k/a Covanta Chinese Investments Ltd.)                                                       shares issued at                                                       $1.00 par value 87.   Covanta Energy China       Mauritius           Issued:         100% owned by Covanta Energy Asia Holdings        (Gamma) Ltd.                                   7,350,002       Ltd. (f/k/a Covanta Chinese Investments Ltd.)                                                       shares issued at                                                       $1.00 par value 88.   Covanta Europe             Ireland             Issued: 1 share  100% owned by Covanta Energy (Ireland)                                                 SCHEDULE 4.2 - 5   

 

                    Company Name              Jurisdiction         Capital            Description of Anticipated                                           of            Stock or       Ownership As of the Closing Date                                   Incorporation          Equity                                                         Interests         Engineering Limited                            issued at €1.00 Limited                                                       par value 89.   Covanta Energy India       Mauritius           Issued: 100,000 100% owned by Covanta        (Balaji) Limited                               shares.         Energy International Investments Limited 90.   Covanta Energy             Mauritius           Issued: 2 shares  100% owned by Covanta        International Investments                                      Europe Holdings S.a.r.l.        Limited (f/k/a Covanta        Energy India Investments,        Ltd.)  91.   Covanta Energy (Ireland)   Ireland             Issued: 1 share 100% owned by Covanta Europe Holdings        Limited                                        issued at €1.00 S.a.r.l.                                                       par value 92.   Covanta Energy Limited     United Kingdom      Issued: 1 share  100% owned by Covanta Europe Holdings                                                                       S.a.r.l. 93.   Covanta Energy Philippine  Philippines         Issued: 52,605  100%* owned by Covanta        Holdings, Inc.                                 shares at Php   Power International                                                       100 par value   Holdings, Inc. (*per Philippine law each                                                       (Per Philippine Covanta director holds 1 share)                                                       law each                                                       Covanta                                                       director holds 1                                                       share) 94.   Covanta Europe Holdings    Luxembourg          Issue: 250,000  100% owned by Covanta Holding 2 UK Limited        S.a.r.l.  95.   Covanta Europe Operations  Ireland             Issued: 1 share 100% owned by Covanta Energy (Ireland)        Limited                                        issued at €1.00 Limited                                                       par value 96.   Covanta Five Ltd.          Mauritius           Issued: 2 shares  100% owned by Covanta                                                                       Energy International Investments Limited 97.   Covanta Holding UK         United Kingdom      Issued: 1 share  100% owned by Covanta Luxembourg Holdings        Limited                                                        S.a.r.l. 98.   Covanta Ince Park Limited  United Kingdom      Issued: 1 share 100% owned by Covanta Energy Limited                                                       Value: £1 99.   Covanta Rookery South      United Kingdom      Issued: 1 share 100% owned by Covanta Energy Limited        Limited                                        Value: £1 100   Covanta Waste to Energy    Hong Kong           Issued:         100% owned by Covanta Waste to Energy Asia         Asia Limited                                   4,680,100       Ltd. 101   Covanta Waste to Energy    Mauritius           Issued:         100% owned by Covanta Energy Asia Holdings        Asia Ltd. (f/k/a Covanta                       12,000,002      Ltd. (f/k/a Covanta Chinese Investments Ltd.)        Energy China (Beta) Ltd.)                      shares issued at                                                       $1.00 par value 102   Edison (Bataan)            Philippines         Issued:         100%* owned by Covanta        Cogeneration Corporation                       4,800,000       Power International                                                       common stock    Holdings, Inc. (*per Philippine law each                                                       (Per Philippine Covanta director holds 1 share)                                                       law each                                                       Covanta                                                       director holds 1                                                       share) 103   Enereurope Holdings III,   Netherlands         Issued: EUR     100% owned by Covanta Power International        B.V.                                           20,000 and      Holdings, Inc.                                                       NLG 44,074.20 104   Hidro Operaciones Don      Costa Rica          780 shares @    100% owned by Covanta        Pedro S.A.                                     1,00            Power International                                                SCHEDULE 4.2 - 6   

 

                    Company Name              Jurisdiction         Capital            Description of Anticipated                                           of            Stock or       Ownership As of the Closing Date                                   Incorporation          Equity                                                         Interests                                                                        Holdings, Inc. 105   Olmec Insurance Ltd.       Bermuda             Issued:         100% owned by Covanta Energy Group, LLC                                                       1,000,000                                                       common shares                                                       have been 50%                                                       called and paid                                                       totaling                                                       $500,000 106  TransRiver Canada           Canada                              100% owned by Covanta       Incorporated                                                    Energy, LLC 107  Covanta Environmental       Canada              1 Common        100% owned by Covanta Burnaby Renewable       Solutions, Inc.                                 shares          Energy, ULC 108  Covanta Environmental       Canada              100 Common      100% owned by Covanta       Solutions Ontario, Inc.                         shares          Environmental Solutions, Inc.          109  Return-Tech Inc.            Canada              1 Common        100% owned by Covanta                                                       Share           Environmental Solutions, Inc.  110  35 Industrial Inc.          Canada              76.22456        100% owned by Covanta                                                       Common          Environmental Solutions, Inc.                                                       Shares 111  Covanta Burnaby             Canada              19,500          100% owned by Covanta       Renewable Energy, ULC                           Common          Energy, LLC                                                       Shares 112  Covanta Luxembourg S.A.     Luxembourg          Share capital   100% owned by Covanta       R.L.                                            17,000 shares   Power International                                                       @ 1 EURO        Holdings, Inc. 113  Covanta Luxembourg          Luxembourg          Share capital   100% owned by Covanta       Global Holding S.A. R.L.                        17,000 shares   Power International                                                       @ 1 EURO        Holdings, Inc. 114  Covanta Luxembourg          Luxembourg          Share capital   100% owned by Covanta       Holding S.A. R.L.  17,000 shares                                Power International                                                       @ 1 EURO        Holdings, Inc. 115  Covanta Holding 2 UK        United Kingdom      2 Ordinary      100% owned by Covanta       Limited                                         Shares @ £1     Holding UK Limited                                                       each 116  Covanta Holding 3 UK        United Kingdom      2 Ordinary      .1% owned by Covanta       Limited                                         Shares @ £1                                                            each            Holding 2 UK Limited and 99.99% owned by                                                                       Covanta Europe Holdings S.a.r.l.  117  Covanta Protos              United Kingdom      1 Ordinary      100% owned by Covanta       Development Limited                             Shares @ £1     Power International                                                       each            Holdings, Inc. 118  Covanta Newhurst            United Kingdom      2 Ordinary      100% owned by Covanta       Development Limited                             Shares @ £1     Power International                                                       each            Holdings, Inc. 119  Covanta Carribean SRL       Barbados            1 Common        100% owned by Covanta                                                       Share @ $1.00   Power International                                                                       Holdings, Inc. 120  Chesapeake Waste Solutions  Delaware            Limited         100% owned by Covanta Environmental       LLC                                             Liability       Solutions, LLC                                                       Company 121  Covanta Environmental       Wisconsin           Limited         100% owned by Covanta Environmental       Solutions Carriers II, LLC                      Liability       Solutions, LLC                                                       Company                                                SCHEDULE 4.2 - 7   

 

                    Company Name              Jurisdiction         Capital            Description of Anticipated                                           of            Stock or       Ownership As of the Closing Date                                   Incorporation          Equity                                                         Interests   122  Advanced Waste Services of  Wisconsin           Limited         100% owned by Covanta Environmental       Indiana, LLC                                    Liability       Solutions, LLC                                                       Company 123  Recoil, LLC                 Pennsylvania        Limited         100% owned by Covanta Environmental                                                       Liability       Solutions, LLC                                                       Company 124  Waste Recovery Solutions,   Florida             Limited         100% owned by Covanta Environmental       LLC                                             Liability       Solutions, LLC                                                       Company 125  Environmental               Arizona             Limited         100% owned by Covanta Environmental       Pharmaceuticals, LLC                            Liability       Solutions, LLC                                                       Company 126  Industrial Oil Tank Service New York            Authorized 400  100% owned by Covanta Environmental       Corporation                                     Common          Solutions, LLC                                                       Shares Issued                                                       49 shares                                                       voting and 30                                                       shares Class B                                                       non-voting 127  Covanta OPW Associates,     Connecticut         100 shares      100% owned by Covanta Projects, LLC       Inc.                                            common @                                                       $1.00 par 128  Covanta Wallingford         Connecticut         100 shares      100% owned by Covanta Projects, LLC       Associates, Inc.                                common @                                                       $1.00 par 129  Covanta Green Rookery       United Kingdom      1 Ordinary      100% owned by Covanta Europe Holdings       Holding Limited                                 Shares @ £1     S.a.r.l.                                                        each 130  Covanta Green UK Limited    United Kingdom      1 Ordinary      100% owned by Covanta Europe Holdings                                                       Shares @ £1     S.a.r.l.                                                       each 131  Rookery South Holding       United Kingdom      1 Ordinary      100% owned by Covanta Europe Holdings       Limited                                         Shares @ £1     S.a.r.l.                                                       each                                                 SCHEDULE 4.2 - 8   

 

                                                      SCHEDULE 4.11(b)                                                 TO CREDIT AGREEMENT                                                                                  RESTATEMENT DATE MATERIAL REAL ESTATE ASSETS                Project Name          Address  SEMASS                141 Cranberry Highway, West Wareham, MA 02576 Tulsa                 2122 S. Yukon Ave, Tulsa, OK 74107  Lake                  3830 Rogers Industrial Park Rd., Okahumpka, FL 34762 Springfield           188 M Street, Agawam, MA 01001                           SCHEDULE 4.11(b) - 1   

 

                                                            SCHEDULE 4.21                                                     TO CREDIT AGREEMENT                                                                                                    UNRESTRICTED SUBSIDIARIES    1. COVANTA ENERGY ASIA HOLDINGS LTD. (Mauritius)  2. COVANTA ENERGY ASIA PACIFIC HOLDINGS LIMITED (China)  3. COVANTA ENERGY CHINA (DELTA) LIMITED (Mauritius)  4. COVANTA ENERGY CHINA (GAMMA) LIMITED (Mauritius)  5. COVANTA ENERGY INDIA (BALAJI) LIMITED (Mauritius)   6. COVANTA ENERGY INTERNATIONAL INVESTMENTS LIMITED (Mauritius)  7. COVANTA FIVE LIMITED (Mauritius)  8. COVANTA WASTE TO ENERGY ASIA LIMITED (Hong Kong)  9. COVANTA WASTE TO ENERGY ASIA LTD. (Mauritius)  10. TAIXING COVANTA-YANJIANG COGENERATION CO., LTD. (China)                               SCHEDULE 4.21- 1   

 

                                                                 SCHEDULE 6.1                                                         TO CREDIT AGREEMENT                                                                                                              CERTAIN INDEBTEDNESS     6.375% Senior Notes due 2022 subject to redemption at any time on or after April 1, 2017, in      whole or in part, together with accrued and unpaid interest, if any, to the date of redemption     5.875% Senior Notes due 2024 subject to redemption at any time on or after March 1, 2019,     in whole or in part, together with accrued and unpaid interest, if any, to the date of redemption     5.875% Senior Notes due 2025 subject to redemption at any time on or after July 1, 2020, in     whole or in part, together with accrued and unpaid interest, if any, to the date of redemption     Equipment finance capital leases under Banc of America Leasing Master Lease Agreement      5.0% Union County EfW Facility Capital Lease Arrangement     First  Supplemental  Indenture  dated  as  of  January  18,  2007  between  Covanta  Holding     Corporation and Wells Fargo Bank, National Association, as trustee      Second  Supplemental  Indenture  dated  as  of  December  1,  2010  between  Covanta  Holding      Corporation and Wells Fargo Bank, National Association, as trustee      Third  Supplemental  Indenture  dated  as  of  March  19,  2012  between  Covanta  Holding      Corporation and Wells Fargo Bank, National Association, as trustee      Fourth  Supplemental  Indenture  dated  as  of  March  6,  2014  between  Covanta  Holding      Corporation and Wells Fargo Bank, National Association, as trustee      Massachusetts  Development  Finance  Agency  Series  2012A  Resource Recovery  Bonds      (Covanta Energy Project) due November 1, 2027 subject to redemption at any time on or after      November 1, 2017, in  whole or in part, at par plus accrued interest, if any, to the date of      redemption      Massachusetts  Development  Finance  Agency  Series  2012B  Resource Recovery  Bonds      (Covanta Energy Project) due November 1, 2042 subject to redemption at any time on or after      November 1, 2017, in  whole or in part, at par plus accrued interest, if any, to the date of      redemption      Massachusetts  Development  Finance  Agency  Series  2012C  Resource Recovery  Bonds      (Covanta Energy Project) due November 1, 2042 subject to redemption at any time on or after      November 1, 2017, in  whole or in part, at par plus accrued interest, if any, to the date of      redemption      Niagara Area Development Corporation (New York) Solid Waste Disposal Facility Refunding      Revenue Bonds (Covanta Energy Project), Series 2012A due November 1, 2042 subject to      redemption at any time on or after November 1, 2017, in whole or in part, at par plus accrued      interest, if any, to the date of redemption                                   SCHEDULE 6.1 - 1   

 

           Niagara Area Development Corporation (New York) Solid Waste Disposal Facility Refunding      Revenue Bonds (Covanta Energy Project), Series 2012B due November 1, 2024 subject to      redemption at any time on or after November 1, 2017, in whole or in part, at par plus accrued      interest, if any, to the date of redemption      The Essex County Improvement Authority Solid Waste Disposal Revenue Bonds (Covanta      Project) Series 2015 due July 1, 2045 subject to redemption at any time on or after July 1,      2020, in whole or in part, at par plus accrued interest, if any, to the date of redemption.      Delaware  County  Industrial  Development  Authority  (Pennsylvania)  Refunding  Revenue      Bonds (Covanta Project) Series 2015A due July 1, 2043 subject to redemption at any time on      or after July 1, 2020, in whole or in part, at par plus accrued interest, if any, to the date of      redemption      Virginia Small Business Financing Authority Solid Waste Disposal Revenue Bonds (Covanta      Project), Series 2018 due January 1, 2048 subject to redemption at any time on or after July 1,      2023, in whole or in part, at par plus accrued interest, if any, to the date of redemption    Intercompany Indebtedness outstanding on the Amendment and Restatement Effective Date of   Company or any Restricted Subsidiary owed to any Restricted Subsidiary or Company.                                                                        Principal            Lender                        Borrower(s)                                                                       Amount1   Covanta Holding                                                  $82,370,000    Corporation              Covanta Haverhill Associates  Covanta Holding                                                  $165,010,000    Corporation              Covanta Niagara, L.P.  Covanta Energy LLC       Covanta Burnaby Renewable Energy, ULC   $10,536,324    Covanta Europe Holdings                                          €106,500,000    Sarl                     Covanta Energy LLC  Covanta Caribbean SRL    Covanta Luxembourg Sarl                 €319,394,388    Covanta Energy LLC       Covanta Energy Limited                  £4,493,880    Covanta Durham York                                              $1,830,000.00    Renewable Energy Limited   Partnership              Sorinco Inc.  Covanta Burnaby                                                  $3,000,000.00    Renewable Energy, ULC    Sorinco Inc.  Covanta Burnaby                                                  $14,032,276.38    Renewable Energy, ULC    Sorinco Inc.  Covanta Europe Holdings                                          £79,430,000    Sarl                     Covanta Energy Limited  Covanta Energy                                                   £78,000,000    International Investments  Covanta Europe Holdings Sarl                                                      1 Original notional; subject to change and excludes accrued interest.                                   SCHEDULE 6.1 - 2   

 

      Limited   Covanta Energy                                                   $2,000,000   International Investments  Limited                  Covanta Waste to Energy Asia Limited Covanta Energy                                                   $500,000   International Investments  Limited                  Edison Bataan Cogeneration Covanta Energy                                                   $879,000   International Investments  Limited                  Covanta Energy Philippines Holdings Inc.   The following Indebtedness:        Project              Description            Agreement, as amended to date   Alexandria      Performance Guaranties      Covanta Guaranty, dated January 24,                                               2012 between Covanta Holding                                               Corporation and the City of Alexandria                                               and Arlington County                                                  Babylon         Performance Guaranties      Guaranty dated December 20, 1985,                                               between Covanta Energy, LLC, (as                                               successor in interest to Ogden                                               Corporation) Town of Babylon and the                                               Town of Babylon Industrial Development                                               Agency    Durham York     Performance Guaranties      Parent Company Guarantee dated                                               November 22, 2010 by Covanta Holding                                               Corporation for the benefit of the                                               Regional Municipality of Durham and the                                               Regional Municipality of York     Harrisburg      Performance Guaranties      Parent Company Guaranty dated January                                               1, 2018 between Covanta Holding                                               Corporation and Lancaster County Solid                                               Waste Management Authority    Hillsborough    Performance Guaranties      Covanta Guaranty between Covanta                                               Energy Corporation and Hillsborough                                               County, Florida; Guaranty between                                               Hillsborough County, Florida August 17,                                               2005 which became effective on the                                               effective date of the Extension Operation                                               and Management Agreement entered into                                 SCHEDULE 6.1 - 3   

 

                                                 Project              Description            Agreement, as amended to date                                              by the parties on August 17, 2005                                              (effective upon Acceptance of the                                              expansion of the Project)   Honolulu        Performance Guaranties      Covanta Operating Guaranty, dated                                              December 21, 1992, between Covanta                                              Energy Corporation and City and County                                              of Honolulu   Honolulu        Performance Guaranties      Covanta Guaranty, dated December 17,                                              2009, between Covanta Holding                                              Corporation and the  City and County of                                              Honolulu (extension);    Huntington      Performance Guaranties      Amended and Restated Covanta                                              Guaranty, dated June 29, 1989, between                                              Covanta Energy Corporation and Town                                              of Huntington   Huntsville      Performance Guaranties      Covanta Guaranty, dated June 1, 1988,                                              between Covanta Energy Corporation                                              and Solid Waste Disposal Authority of                                              the City of Huntsville   Kent            Performance Guaranties      Covanta Guaranty, dated October 1,                                              1987,  confirmed  December 4, 2008,                                              between Covanta Energy Corporation                                              and County of Kent; Department of                                              Public Works   Harrisburg      Performance Guaranties      Covanta Guaranty dated January 1, 2018                                              between Covanta Holding Corporation                                              and Lancaster Solid Waste Management                                              Authority   Lancaster       Performance Guaranties      Parent Company Guaranty dated January                                              1, 2018 between Covanta Holding                                              Corporation and Lancaster County Solid                                              Waste Management Authority.   Lee             Performance Guaranties      Covanta Guaranty, dated January 16,                                              1990, between Covanta Energy                                              Corporation and Lee County, as amended                                SCHEDULE 6.1 - 4   

 

                                                 Project              Description            Agreement, as amended to date                                              and Guaranty dated January 31, 2006                                              between Lee County and Covanta Lee,                                              Inc. dated January 31, 2006 (which                                              became effective on the effective date of                                              the Amended and Restated Service                                              Agreement between Lee County and                                              Covanta Lee, Inc. dated January 31, 2006                                              (effective only upon Acceptance of the                                              expansion of the Project)   Marion          Performance Guaranties      Guaranty Agreement, dated December                                              11, 1986, of Ogden Corporation re:                                              Obligations of Ogden Martin Systems of                                              Marion, Inc. and Ogden Marion Land                                              Corp. to Columbia Williamette Leasing,                                              Inc.   Marion          Performance Guaranties      Covanta Guaranty, dated September                                              2013, between Covanta Holding                                              Corporation and Marion County Oregon   Honolulu        Performance Guaranties      Covanta Guaranty between Covanta                                              Holding Corporation and the City and                                              County of Honolulu (expansion                                              construction); Covanta Guaranty dated                                              December 17, 2009 between Covanta                                              Holding Corporation and the City and                                              County of Honolulu   Montgomery      Performance Guaranties      Covanta Guaranty, dated November 16,                                              1990, between Covanta Energy                                              Corporation and Northeast Maryland                                              Waste Disposal Authority   Onondaga        Performance Guaranties      Amended and Restated Covanta                                              Guaranty, dated November 15, 1992,                                              between Covanta Energy Corporation                                              and Onondaga County Resource                                              Recovery Agency   Onondaga        Performance Guaranties      Guarantee Agreement, dated October 10,                                              2003, between Covanta Energy                                              Corporation and Covanta Onondaga                                 SCHEDULE 6.1 - 5   

 

                                                 Project              Description            Agreement, as amended to date                                              Limited Partnership   Pasco           Performance Guaranties      Covanta Guaranty, dated April 15, 1989,                                              between Covanta Energy Corporation                                              and Pasco County   Stanislaus      Performance Guaranties      Covanta Guaranty, dated July 1, 2012,                                              between Covanta Energy Corporation                                              and City of Modesto and County of                                              Stanislaus   Union           Performance Guaranties      Covanta Guaranty, dated December 15,                                              2011, between Covanta Holding                                              Corporation and Covanta Union, Inc.   Wallingford     Performance Guaranties      Covanta Guaranty, dated December 17,                                              2008, between Covanta Energy                                              Corporation and Town of Cheshire, CT,                                              Town of Hamden, CT, City of Meriden,                                              CT and Town of Wallingford, CT.   York            Performance Guaranties      Covanta Guaranty, dated December 7,                                              2015, between Covanta Holding                                              Corporation and York County Solid                                              waste and Refuse Authority   Southeast       Company Support Agreement   Company Support Agreement, entered  Connecticut                                 into as of December 1, 2010, by and                                              between Covanta Southeastern                                              Connecticut Company and Covanta ARC                                              Company  Southeast       Company Support Agreement   Parent Undertaking, entered into as of  Connecticut                                 April 30, 2001, by and between Covanta                                              Southeastern Connecticut Company and                                              Covanta ARC LLC   Southeast       Performance Guaranties      Parent Guaranty dated February 7, 2017  Connecticut                                 between Covanta Holding Corporation                                              for the benefit of Southeastern                                              Connecticut Regional Resource Recovery                                              Authority  Koma Kulshan    Guarantee of PPA Obligations  Guarantee, dated December 15, 1989, by                                SCHEDULE 6.1 - 6   

 

                                                 Project              Description            Agreement, as amended to date                                              Covanta Power Pacific, Inc. (f/k/a Pacific                                              Energy) for the benefit of Puget Sound                                              Power & Light Company]  Essex           Company Support Agreement   Amended and Restated Company                                              Support Agreement, dated as of                                              December 1, 1997, by and among                                              Covanta Essex Company, and Covanta                                              ARC LLC   Essex           Project debt                Conditional Sale Agreement dated as of                                              February 28, 1986 between Covanta                                              Essex Company, as Purchaser, and the                                              Port Authority of New York and New                                              Jersey, as Seller, as amended.   Niagara         Performance Guaranties      Corporate Guaranty Agreement, entered                                              into as of April 30, 2001, by Covanta                                              ARC LLC, in favor of Occidental                                              Chemical Corporation and Hooker                                              Energy Corporation   Delaware Valley  Project Debt               Amended and Restated Lease Agreement                                              dated as of April 1, 1997, between US                                              Bank, N.A. as Owner Trustee and Lessor,                                              and Delaware Resource Management,                                              Inc., and Covanta Delaware Valley, L.P.,                                              (f/k/a American Ref-Fuel Company of                                              Delaware Valley, L.P., ) as Lessee; and                                              Participation Agreement dated as of April                                              1, 1997, among TIFD III L, Inc., as                                              Owner Participant Delaware Resource                                              Management Inc. as Original Lessee, US                                              Bank, N.A., as Owner Trustee, First                                              Union National Bank as Indenture                                              Trustee, Browning Ferris Industries, Inc.,                                              and Delaware Resource Lessee Trust Delaware Valley   Performance Guaranties    Corporate Guaranty Agreement I dated as                                              of April 30, 2001, made by Covanta ARC                                              LLC to and for the benefit of State Street                                              Bank and Trust Company (as successor                                              to Fleet National Bank), as Owner                                              Trustee                                 SCHEDULE 6.1 - 7   

 

                                                 Project              Description            Agreement, as amended to date  Delaware Valley   Performance Guaranties    Corporate Guarantee Agreement II dated                                              as of April 30, 2001, made by Covanta                                              ARC LLC to and for the benefit of State                                              Street Bank and Trust Company (as                                              successor to Fleet National Bank), as                                              Owner Trustee  Delaware Valley   Performance Guaranties    Corporate Guaranty Agreement III dated                                              as of April 1, 2001, made by Covanta                                              ARC LLC to and for the benefit of                                              General Electric Capital Corporation  Delaware Valley   Performance Guaranties    Corporate Guaranty Agreement IV dated                                              as of April 1, 2001, made by Covanta                                              ARC LLC to and for the benefit of                                              General Electric Capital Corporation  Delaware Valley   Performance Guaranties    Amended and Restated Corporate                                              Guarantee Agreement II entered into as                                              of August 28, 2001, by Covanta ARC                                              LLC, in favor of and for the benefit of                                              Viacom, Inc.  Delaware Valley   Performance Guaranties    Amended and Restated Corporate                                              Guarantee Agreement  entered into as of                                              August 28, 2001, by Covanta ARC LLC,                                              in favor of and for the benefit of Viacom,                                              Inc.   Delaware Valley   Performance Guaranties    Parent Guaranty Agreement dated as of                                              May 15, 2017 from Covanta Holding                                              Corporation in favor of Delaware County                                              Solid Waste Authority  Pinellas        Performance Guarantees      Schedule 2 to Service Agreement                                              between Pinellas County, Florida and                                              Covanta Projects, LLC  Pinellas        Guaranty                    Guaranty, dated November 6, 2014                                              between Covanta Holding Corporation                                              and Pinellas County, Florida  Delaware Valley  Indemnity Agreement        Indemnity Letter, dated as of April 16,                                              1997, from Covanta Delaware Valley                                              L.P. too Delaware County Industrial                                              Development Authority                                 SCHEDULE 6.1 - 8   

 

                                                 Project              Description            Agreement, as amended to date   Babylon 750     Project debt               Facility Lease Agreement, dated  TPD Mass Burn                               December 1, 1985, as amended and  WTE Facility                                restated, dated August 1, 1995, between                                              Covanta Babylon, Inc. and the Town of                                              Babylon Industrial Development Agency                                              as amended Onondaga 990    Project debt                Amended and Restated Lease Agreement  TPD Mass Burn                               dated October 10, 2003, between Covanta  WTE Facility                                Onondaga Limited Partnership and                                              Onondaga County Resource Recovery                                              Agency, as amended; Amended &                                              Restated Limited Partnership  CHC             Supports the surety program Indemnity Agreement with Travelers                  with Travelers              dated 9/28/2006  CEL             Program Agreement guarantees Program Agreements, dated 10/20/2005                  CEL’s                       10/20/2006, 10/20/2007, 10/20/2008,                  obligations to reimburse    10/20/2009, 10/20/2010, 10/20/2011,                  amounts paid                10/20/2012, 10/20/2013, 10/20/2014,                  by ACE American Insurance   10/20/2015, 10/20/2016 and 10/20/2017                  Company for losses and                  expenses under the retention for                  Workers’ Compensation  and                  Auto Liability insurance policy CEL             Program Agreement guarantees Program Agreement, dated 10/20/2002                  CEL’s                  obligations to reimburse                  amounts paid                   by AIG for losses and expenses                  under the retention for Workers’                  Compensation, General                  Liability  and Auto Liability                  insurance policy CHC, CE & CEG  Supports the surety program  Indemnity Agreement with Chartis dated                  with Chartis                2/9/2010 CHC, CE & CEG  Support the surety program with Indemnity Agreement with Liberty                  Liberty Mutual Insurance    Mutual dated 10/5/2007                  Company  CHC & CEG       Supports the surety program Indemnity Agreement with Zurich                  with Zurich American Insurance American Insurance Company dated                  Company                     3/23/12                                SCHEDULE 6.1 - 9   

 

                                                 Project              Description            Agreement, as amended to date  CE              Program Agreement guarantees Program Agreements, dated 10/20/03 and                  CEL’s obligations to reimburse 10/20/04, 10/20/2015, 10/20/2016,                  amounts paid by ACE American 10/20/2017                  Insurance Company for losses                  and expenses under the                  retention for Worker’s                  Compensation, General                  Liability and Auto Liability                  Insurance Policies CE              Program Agreement guarantees Program Agreements dated 10/20/2009,                  CEL’s obligations to reimburse 10/20/2010, 10/20/2011, 10/20/2012,                  amounts paid by Federal     10/20/2013, 10/20/2014, 10/20/2015,                  Insurance Company (Chubb) for 10/20/2016, 10/20/2017                  losses and expenses under the                  deductible  for General Liability                  insurance policy                                SCHEDULE 6.1 - 10   

 

                                                            SCHEDULE 6.1(w)(1)                                                         TO CREDIT AGREEMENT                                                                                                     TERMS OF SUBORDINATION – AFFILIATES                All Permitted Subordinated Indebtedness (as defined in the Credit Agreement to   which this Schedule 6.1(w)(1) is attached) incurred by Covanta Energy, LLC or any Guarantor   Subsidiary (the “Company”), owing to any Affiliate (as defined in the Credit Agreement) of the   Company shall be subject to the following terms and conditions, which shall be incorporated in a   written agreement (the “Agreement”) between the Company and any Affiliate to which any such   Indebtedness is owed.                Section 1.01.  Subordination of Liabilities.  The Company, for itself, its successors   and assigns, covenants and agrees and each holder of the indebtedness evidenced by [DESCRIBE   INDEBTEDNESS DOCUMENTATION] (the “Subordinated Indebtedness”) by its acceptance   thereof likewise covenants and agrees that the payment of the principal of, and interest on, and all   other  amounts  owing  in  respect  of,  the  Subordinated  Indebtedness  is  hereby  expressly   subordinated, to the extent and in the manner hereinafter set forth, to the prior payment in full in   cash or discharge in full of Senior Indebtedness (as defined in Section 1.08) in cash and cash  collateralization of any outstanding letters of credit thereunder.  The subordination provisions set  forth herein shall constitute a continuing offer to all persons who, in reliance upon such provisions,  become holders of, or continue to hold, Senior Indebtedness, and such provisions are made for the  benefit of the holders of Senior Indebtedness, and such holders are hereby made obligees hereunder  to the same extent as if their names were written herein as such, and they and/or each of them may  proceed to enforce such provisions.               Section  1.02.   Company  Not  to  Make  Payments  with  Respect  to  Subordinated   Indebtedness in Certain Circumstances.   (a) Upon  the  maturity  of  any  Senior  Indebtedness   (including interest thereon or fees or any other amounts owing in respect thereof), whether at stated   maturity,  by  acceleration  or  otherwise,  all  principal  thereof  and  premium,  if  any,  and  interest   thereon or fees or any other amounts owing in respect thereof, in each case to the extent due and   owing at such time, shall first be paid in full in cash or discharged in full, or such payment duly   provided  for  in  cash  or  in  a  manner  satisfactory  to  the  holder or holders of such Senior   Indebtedness,  including  cash  collateralization  of  any  outstanding  letters  of  credit  thereunder,   before any payment is made on account of the principal of (including installments thereof), or   interest on, or any amount otherwise owing in respect of, the Subordinated Indebtedness.  Each   holder of the Subordinated Indebtedness hereby agrees that, so long as an Event of Default (as   defined in the Credit Agreement) has occurred and is continuing, no amounts owing in respect of   the  Subordinated  Indebtedness  shall  be  made,  asked,  demanded,  sued  for,  or  otherwise  taken,   accepted or received.          (a)      In the event that notwithstanding the provisions of the preceding subsection (a)   of this Section 1.02, the Company shall make any payment on account of the principal of, or   interest on, or amounts otherwise owing in respect of, the Subordinated Indebtedness at a time   when payment is not permitted by said subsection (a), such payment shall be held by the holder of   the Subordinated Indebtedness, in trust for the benefit of, and shall be paid forthwith over and   delivered to, the holders of Senior Indebtedness or their representative or representatives under the   agreements pursuant to which the Senior Indebtedness may have been issued, as their respective   interests may appear, for application pro rata to the payment of all Senior Indebtedness remaining   unpaid to the extent necessary to pay all Senior Indebtedness in full in cash and cash collateralize                                SCHEDULE 6.1(w)(1) - 1   

 

                                                                                 any  outstanding  letters  of  credit  thereunder  in  accordance  with the terms of such Senior  Indebtedness, after giving effect to any concurrent payment or distribution to or for the holders of  Senior Indebtedness.  Without in any way modifying the subordination provisions set forth herein  or  affecting  the  subordination  effected  hereby,  the  Company  shall  give  the  holder  of  the  Subordinated Indebtedness prompt written notice of any maturity of Senior Indebtedness after  which such Senior Indebtedness remains unsatisfied.               Section  1.03.   Subordinated  Indebtedness  Subordinated  to  Prior Payment  of  all  Senior  Indebtedness  on  Dissolution,  Liquidation  or  Reorganization  of  Company.   Upon  any  distribution of assets of the Company that constitute Collateral upon any dissolution, winding up,  liquidation or reorganization of the Company (whether in bankruptcy, insolvency or receivership  proceedings or upon an assignment for the benefit of creditors or otherwise):               (a)   the  holders  of  all  Senior  Indebtedness  shall  first  be  entitled  to  receive  payment  in  full  in  cash  or  in  a  manner  satisfactory  to  the  holder or holders of such Senior  Indebtedness of the principal thereof, premium, if any, and interest (including, without limitation,  all  interest  accruing  after  the  commencement  of  any  bankruptcy,  insolvency,  receivership  or  similar proceeding at the rate provided in the governing documentation whether or not such interest  is an allowed claim in such proceeding) and all other amounts due thereon before the holder of the  Subordinated Indebtedness is entitled to receive any payment on account of the principal of or  interest on or any other amount owing in respect of the Subordinated Indebtedness,               (b)   any  payment  or  distribution of  assets  of  the  Company  of  any  kind  or  character that constitute Collateral, whether in cash, property or securities to which the holder of  the Subordinated Indebtedness would be entitled except for the subordination provisions set forth  herein, shall be paid by the liquidating trustee or agent or other person making such payment or  distribution, whether a trustee or agent, directly to the holders of Senior Indebtedness or their  representative or representatives under the agreements pursuant to which the Senior Indebtedness  may have been issued, to the extent necessary to make payment in full of all Senior Indebtedness  remaining unpaid, after giving effect to any concurrent payment or distribution to the holders of  such Senior Indebtedness; and               (c)  in the event that, notwithstanding the foregoing provisions of this Section  1.03, any payment or distribution of assets of the Company of any kind or character that constitute  Collateral,  whether  in  cash,  property  or  securities,  shall  be  received  by  the  holder  of  the  Subordinated Indebtedness on account of principal of, or interest or other amounts due on, the  Subordinated Indebtedness before all Senior Indebtedness is paid in full in cash or in a manner  satisfactory to the holder or holders of such Senior Indebtedness or otherwise discharged in full,  or effective provisions made for its payment, such payment or distribution shall be received and  held in trust for and shall be paid over to the holders of the Senior Indebtedness remaining unpaid  or unprovided for or their representative or representatives under the agreements pursuant to which  the  Senior  Indebtedness  may  have  been  issued,  for  application  to  the  payment  of  such  Senior  Indebtedness until all such Senior Indebtedness shall have been paid in full in cash or in a manner  satisfactory to the holder or holders of such Senior Indebtedness or otherwise discharged in full,  after  giving  effect  to  any  concurrent  payment  or  distribution  to  the  holders  of  such  Senior  Indebtedness.                                SCHEDULE 6.1(w)(1) - 2   

 

                                                                                               Without  in  any  way  modifying  the  subordination  provisions  set  forth  herein  or   affecting the subordination effected hereby, the Company shall give prompt written notice to the   holder  of  the  Subordinated  Indebtedness  of  any  dissolution,  winding  up,  liquidation  or   reorganization of the Company (whether in bankruptcy, insolvency or receivership proceedings or   upon an assignment for the benefit of creditors or otherwise).                Section  1.04.   Furtherance  of  Subordination.  Each  holder  of  the  Subordinated   Indebtedness agrees as follows:          (a)  If any proceeding referred to in Section 1.03 above is commenced by or against the   Company:         (i)   the Administrative Agent (as defined in the Credit Agreement referred to in Section  1.08 below), acting on behalf of each holder of the Senior Indebtedness, is hereby irrevocably  authorized and empowered (in its own name or in the name of the holder of the Subordinated  Indebtedness or otherwise), but shall have no obligation, to demand, sue for, collect and receive  every payment or distribution referred to in Section 1.03(b) and give acquittance therefor and to  file claims and proofs of claim and take such other action (including, without limitation, voting  the claims arising under the Subordinated Indebtedness or enforcing any security interest or other  lien securing payment of the Subordinated Indebtedness) as it may deem necessary or advisable  for the exercise or enforcement of or causing enforcement of any of the rights or interests of the  holders of the Senior Indebtedness hereunder; and         (ii)   each holder of the Subordinated Indebtedness shall duly and promptly take such  action as the Administrative Agent may request (A) to collect the Subordinated Indebtedness for  the account of the holders of the Senior Indebtedness and to file appropriate claims or proofs of  claim in respect of the Subordinated Indebtedness, (B) to execute and deliver to the Administrative  Agent such powers of attorney, assignments or other instruments as Administrative Agent may  request in order to enable the Administrative Agent to enforce any and all claims with respect to,  and any security interests and other liens securing payment of, the Subordinated Indebtedness, and  (C) to collect and receive any and all payments or distributions that may be payable or deliverable  upon or with respect to the Subordinated Indebtedness.         (iii)  The holders of the Senior Indebtedness are hereby authorized to demand specific  performance of this Agreement, whether or not the Company shall have complied with any of the  provisions hereof applicable to it, at any time when the holder of the Subordinated Indebtedness  shall have failed to comply with any of the provisions of this Agreement applicable to it.  The  holder  of  the  Subordinated  Indebtedness  hereby  irrevocably  waives  any  defense  based  on  the  adequacy of a remedy at law that might be asserted as a bar to such remedy of specific performance.               Section 1.05.  Subrogation.  Subject to the prior payment or discharge in cash in   full of all Senior Indebtedness, the holder of the Subordinated Indebtedness shall be subrogated to   the rights of the holders of Senior Indebtedness to receive payments or distributions of assets of   the  Company  applicable  to  the  Senior  Indebtedness  until  all  amounts  owing  in  respect  of  the   Subordinated  Indebtedness  shall  be  paid  or  discharged  in  full, and  for  the  purpose  of  such   subrogation no payments or distributions to the holders of the Senior Indebtedness by or on behalf   of the Company or by or on behalf of the holder of the Subordinated Indebtedness by virtue of the                                SCHEDULE 6.1(w)(1) - 3   

 

                                                                                 subordination provisions set forth herein that otherwise would have been made to the holder of the  Subordinated Indebtedness, shall be deemed to be payment by the Company to or on account of  the  Subordinated  Indebtedness,  it  being  understood  that  the  subordination  provisions  set  forth  herein are and are intended solely for the purpose of defining the relative rights of the holder of  the Subordinated Indebtedness, on the one hand, and the holders of the Senior Indebtedness, on  the other hand.               Section 1.06.  Obligation of the Company Unconditional.  Nothing contained in the  subordination  provisions  set  forth  herein  or  in  the  documents  evidencing  the  Subordinated  Indebtedness  is  intended  to  or  shall  impair,  as  between  the  Company  and  the  holder  of  the  Subordinated Indebtedness, the obligation of the Company, which is absolute and unconditional,  to  pay  to  the  holder  of  the  Subordinated  Indebtedness  the  principal  of  and  interest  on  the  Subordinated Indebtedness as and when the same shall become due and payable in accordance  with its terms, or is intended to or shall affect the relative rights of the holder of the Subordinated  Indebtedness and creditors of the Company other than the holders of the Senior Indebtedness, nor  shall  anything  herein  or  therein  prevent  the  holder  of  the  Subordinated  Indebtedness  from  exercising all remedies otherwise permitted by applicable law, subject to the rights, if any, under  the subordination provisions set forth herein of the holders of Senior Indebtedness in respect of  cash, property, or securities of the Company received upon the exercise of any such remedy.  Upon  any  distribution  of  assets  of  the  Company  referred  to  herein,  the  holder  of  the  Subordinated  Indebtedness shall be entitled to rely upon any order or decree made by any court of competent  jurisdiction in which such dissolution, winding up, liquidation or reorganization proceedings are  pending, or a certificate of the liquidating trustee or agent or other person making any distribution  to the holder of the Subordinated Indebtedness, for the purpose of ascertaining the persons entitled  to participate in such distribution, the holders of the Senior Indebtedness and other indebtedness  of the Company, the amount thereof or payable thereon, the amount or amounts paid or distributed  thereon and all other facts pertinent thereto or hereto.               Section  1.07.   Subordination  Rights  Not  Impaired  by  Acts  or  Omissions  of  Company or Holders of Senior Indebtedness.  No rights of any present or future holders of any  Senior Indebtedness to enforce subordination as herein provided shall at any time in any way be  prejudiced or impaired by an act or failure to act on the part of the Company or by any act or failure  to act in good faith by any such holder, or by any noncompliance by the Company with the terms  and provisions of the Subordinated Indebtedness, regardless of any knowledge thereof which any  such holder may have or be otherwise charged with.  The holders of the Senior Indebtedness may,  without in any way affecting the obligations of the holder of the Subordinated Indebtedness with  respect thereto, at any time or from time to time and in their absolute discretion, change the manner,  place or terms of payment of, change or extend the time of payment of, or renew or alter, any  Senior Indebtedness, or amend, modify or supplement any agreement or instrument governing or  evidencing such Senior Indebtedness or any other document referred to therein, or exercise or  refrain from exercising any other of their rights under the Senior Indebtedness including, without  limitation, the waiver of a default thereunder and the release of any collateral securing such Senior  Indebtedness, all without notice to or consent from the holder of the Subordinated Indebtedness.               Section  1.08.  Senior  Indebtedness.  (a)  The  term  “Senior  Indebtedness” shall  mean, at any time, the Obligations as such term is defined in the Credit Agreement (as defined  below),  but  excluding  indemnification  and  other  contingent  obligations  (other  than  contingent                               SCHEDULE 6.1(w)(1) - 4   

 

                                                                                   reimbursement obligations in respect of amounts that may be drawn under outstanding letters of   credit) in respect of which no assertion of liability and no claim or demand for payment has been   made  (and,  in  the  case  of  indemnification  obligations,  no  notice  for  indemnification  has  been   issued by the indemnitee) at such time.          (b)  As used in this Agreement, the terms set forth below shall have the respective meanings   provided below:          “Credit Agreement” shall mean the Second Amended and Restated Credit and Guaranty  Agreement (as amended, restated, supplemented or otherwise modified on [], 2018 and from time   to  time)  among  Covanta  Energy,  LLC,  Covanta  Holding  Corporation,  as  a  guarantor,  certain   subsidiaries of the Company, as guarantors, the Lenders party thereto, Bank of America, N.A., as   administrative agent (in such capacity, the “Administrative Agent”), and the other banks party   thereto, as same may be amended, modified, extended, renewed, restated or supplemented from   time to time, and including any agreement extending the maturity of, refinancing or restructuring   all or any portion of, or increasing the Obligations under such agreement or of any successor   agreements.                                           SCHEDULE 6.1(w)(1) - 5   

 

                                                           SCHEDULE 6.1(w)(2)                                                        TO CREDIT AGREEMENT                                                                                                 TERMS OF SUBORDINATION – NON-AFFILIATES               All Permitted Subordinated Indebtedness (as defined in the Credit Agreement to  which this Schedule 6.1(w)(2) is attached) incurred by Covanta Energy, LLC or any Guarantor  Subsidiary (the “Company”) owing to any person other than an Affiliate (as defined in the Credit  Agreement) of the Company shall be evidenced by a promissory note and shall (i) to the extent  such Permitted Subordinated Indebtedness constitutes a sale of notes through an initial purchaser  in a customary 144(a) transaction, have the subordination provisions set forth in Part A and (ii) to  the extent such Permitted Subordinated Indebtedness does not constitute a sale of notes through  an initial purchaser in a customary 144(a) transaction, have the subordination provisions set forth  in Part B, of this Schedule 6.1(x)(2) attached as Annex A thereto or incorporated within the text  thereof (mutatis mutandis), and shall include in the text of such promissory note the language:   “THE INDEBTEDNESS EVIDENCED BY THIS NOTE IS SUBORDINATE AND JUNIOR  IN  RIGHT  OF  PAYMENT  TO  ALL  SENIOR  INDEBTEDNESS  (AS  DEFINED  IN  ANNEX A HERETO) TO THE EXTENT PROVIDED IN ANNEX A.”   Part A.                                                                       ANNEX A               The  payment  of  principal,  interest  and  premium,  if  any,  on  the notes  (the  “Subordinated Indebtedness”) will be subordinated to the prior payment in full of all Senior  Indebtedness, including Senior Indebtedness incurred after the date of the indenture relating to the  Subordinated Indebtedness (the “Indenture”).               The holders of Senior Indebtedness will be entitled to receive payment in full of all  obligations due in respect of Senior Indebtedness (including interest after the commencement of  any bankruptcy proceeding at the rate specified with respect to the Senior Indebtedness) before the  holders of Subordinated Indebtedness will be entitled to receive any payment with respect to the  Subordinated Indebtedness (except that holders of Subordinated Indebtedness may receive and  retain Permitted Junior Securities), in the event of any distribution to creditors of the Company:                 (1)   in a liquidation or dissolution of the Company;               (2)   in  a  bankruptcy,  reorganization,  insolvency,  receivership  or  similar  proceeding relating to the Company or its property;                 (3)   in an assignment for the benefit of creditors; or                (4)   in any marshaling of the Company’s assets and liabilities.               The  Company  also  may  not  make  any  payment  in  respect  of  the  Subordinated  Indebtedness (except in Permitted Junior Securities) if:                (1)   a payment default on Senior Indebtedness occurs and is continuing beyond  any applicable grace period; or                (2)   any  other  default  occurs  and  is  continuing  on  Senior  Indebtedness  that                               SCHEDULE 6.1(w)(2) -1   

 

     permits holders of the Senior Indebtedness to accelerate its maturity and the trustee receives a   notice of such default (a “Payment Blockage Notice”) from the Company or the holders of any  Senior Indebtedness.               Payments on the Subordinated Indebtedness may and will be resumed:               (1)    in the case of a payment default, upon the date on which such default is   cured or waived; and                 (2)   in the case of a nonpayment default, upon the earlier of the date on which   such nonpayment default is cured or waived or 179 days after the date on which the applicable   Payment Blockage Notice is received, unless the maturity of any Senior Indebtedness has been   accelerated.                  No new Payment Blockage Notice may be delivered unless and until:                 (1)   360 days have elapsed since the delivery of the immediately prior Payment   Blockage Notice; and                 (2)   all scheduled payments of principal, interest and premium, if any, on the   Subordinated Indebtedness that have come due have been paid in full in cash.                  No nonpayment default that existed or was continuing on the date of delivery of   any Payment Blockage Notice to the trustee will be, or be made, the basis for a subsequent Payment   Blockage Notice.                 If the trustee or any holder of the Subordinated Indebtedness receives a payment in   respect of the Subordinated Indebtedness (except in Permitted Junior Securities) when:                (1)   the payment is prohibited by these subordination provisions; and                (2)   the  trustee  or  the  holder  has  actual  knowledge  that  the  payment  is   prohibited,    the trustee or the holder, as the case may be, will hold the payment in trust for the benefit of the   holders of Senior Indebtedness.  Upon the proper written request of the Administrative Agent (as   defined below), the trustee or the holder, as the case may be, will deliver the amounts in trust to   the Administrative Agent.                  The Company must promptly notify holders of Senior Indebtedness if payment on   the Subordinated Indebtedness is accelerated because of an event of default under the Indenture.                Insert in “Certain Definitions”:                 “Credit Agreement” shall mean the Second Amended and Restated Credit and   Guaranty Agreement (as amended, restated, supplemented or otherwise modified on [], 2018 and   from time to time) among Covanta Energy, LLC, Covanta Holding Corporation, as a guarantor,   certain subsidiaries of the Company, as guarantors, the Lenders party thereto, Bank of America,                                SCHEDULE 6.1(w)(2) - 2   

 

     N.A., as administrative agent (in such capacity, the “Administrative Agent”), and the other banks   party thereto, as same may be amended, modified, extended, renewed, restated or supplemented   from  time  to  time,  and  including  any  agreement  extending  the  maturity  of,  refinancing  or   restructuring all or any portion of, or increasing the Obligations under such agreement or of any   successor agreements.                 “Permitted Junior Securities” means:                 (1)   equity interests in Company; or                 (2)   debt  securities  that  are  subordinated  to  all  Senior  Indebtedness  to  substantially the same extent as, or to a greater extent than, the notes are subordinated to Senior  Indebtedness under the Indenture.               “Senior Indebtedness” means at any time, the Obligations as such term is defined  in the Credit Agreement, but excluding indemnification and other contingent obligations (other  than  contingent  reimbursement  obligations  in  respect  of  amounts  that  may  be  drawn  under  outstanding letters of credit) in respect of which no assertion of liability and no claim or demand  for  payment  has  been  made  (and,  in  the  case  of  indemnification  obligations,  no  notice  for  indemnification has been issued by the indemnitee) at such time.                                    SCHEDULE 6.1(w)(2) - 3   

 

   Part B.                                                                       ANNEX A               Section 1.01.  Subordination of Liabilities. The Company for itself, its successors  and assigns, covenants and agrees and each holder of the promissory note to which this Annex A  is attached (the “Note”) by its acceptance thereof likewise covenants and agrees that the payment  of the principal of, and interest on, and all other amounts owing in respect of, the Note is hereby  expressly subordinated, to the extent and in the manner hereinafter set forth, to the prior payment  in full in cash or discharge in full of the Senior Indebtedness (as defined in Section 1.08) in cash  and cash collateralization of any outstanding letters of credit thereunder.  The provisions of this  Annex A shall constitute a continuing offer to all persons who, in reliance upon such provisions,  become holders of, or continue to hold, Senior Indebtedness, and such provisions are made for the  benefit of the holders of Senior Indebtedness, and such holders are hereby made obligees hereunder  to the same extent as if their names were written herein as such, and they and/or each of them may  proceed to enforce such provisions.               Section 1.02.  Company Not to Make Payments with Respect to Notes in Certain  Circumstances.                 (a)   Upon the maturity of any Senior Indebtedness (including interest thereon or        fees  or  any  other  amounts  owing  in  respect  thereof),  whether  at  stated  maturity,  by        acceleration or otherwise, all principal thereof and premium, if any, and interest thereon or        fees or any other amounts owing in respect thereof, in each case to the extent due and owing        at such time, shall first be paid in full in cash or discharged in full, or such payment duly        provided for in cash or in a manner satisfactory to the holder or holders of such Senior        Indebtedness,  including  cash  collateralization  of  any  outstanding  letters  of  credit        thereunder,  before  any  payment  is  made  on  account  of  the  principal  of  (including        installments thereof), or interest on, or any amount otherwise owing in respect of, the Note.        Each holder of the Note hereby agrees that, so long as an Event of Default (as defined in        the Credit Agreement) has occurred and is continuing, no amounts owing in respect of the        Note shall be made, asked, demanded, sued for, or otherwise taken, accepted or received.               (b) In the event that notwithstanding the provisions of the preceding subsection (a)       of this Section 1.02, the Company shall make any payment on account of the principal of,       or interest on, or amounts otherwise owing in respect of, the Note at a time when payment       is not permitted by said subsection (a), such payment shall be held by the holder of the       Note, in trust for the benefit of, and shall be paid forthwith over and delivered to, the       holders  of  Senior  Indebtedness  or  their  representative  or  representatives  under  the       agreements  pursuant  to  which  the  Senior  Indebtedness  may  have  been  issued,  as  their       respective  interests  may  appear,  for  application  pro  rata,  to  the  payment  of  all  Senior       Indebtedness remaining unpaid to the extent necessary to pay all Senior Indebtedness in       full in cash and cash collateralize any outstanding letters of credit thereunder in accordance       with the term of such Senior Indebtedness, after giving effect to any concurrent payment        or distribution to or for the holders of Senior Indebtedness.  Without in any way modifying        the provisions of this Annex A or affecting the subordination effected hereby, the Company                                SCHEDULE 6.1(w)(2) - 4   

 

           shall  give  the  holder  of  the  Note  prompt  written  notice  of  any maturity  of  Senior         Indebtedness after which such Senior Indebtedness remains unsatisfied.               Section 1.03.  Note Subordinated to Prior Payment of all Senior Indebtedness on   Dissolution, Liquidation or Reorganization of Company.  Upon any distribution of assets of the   Company that constitute Collateral upon any dissolution, winding up, liquidation or reorganization   of  the  Company  (whether  in  bankruptcy,  insolvency  or  receivership  proceedings  or  upon  an   assignment for the benefit of creditors or otherwise):                (a)   the  holders  of  all  Senior  Indebtedness  shall  first  be  entitled  to  receive   payment  in  full  in  cash  or  in  a  manner  satisfactory  to  the  holder or holders of such Senior   Indebtedness of the principal thereof, premium, if any, and interest (including, without limitation,  all  interest  accruing  after  the  commencement  of  any  bankruptcy,  insolvency,  receivership  or  similar proceeding at the rate provided in the governing documentation whether or not such interest  is an allowed claim in such proceeding) and all other amounts due thereon before the holder of the  Note is entitled to receive any payment on account of the principal of or interest on or any other  amount owing in respect of the Note;               (b)    any  payment  or  distribution of  assets  of  the  Company  of  any  kind  or  character that constitute Collateral, whether in cash, property or securities to which the holder of  the Note would be entitled except for the provisions of this Annex A shall be paid by the liquidating  trustee or agent or other person making such payment or distribution, whether a trustee or agent;  directly to the holders of Senior Indebtedness or their representative or representatives under the  agreements  pursuant  to  which  the  Senior  Indebtedness  may  have  been  issued,  to  the  extent  necessary to make payment in full of all Senior Indebtedness remaining unpaid, after giving effect  to any concurrent payment or distribution to the holders of such Senior Indebtedness; and               (c)   in the event that, notwithstanding the foregoing provisions of this Section         1.03, any payment or distribution of assets of the Company of any kind or character that         constitute Collateral, whether in cash, property or securities, shall be received by the holder         of the Note on account of principal of, or interest or other amounts due on, the Note before         all Senior Indebtedness is paid in full in cash or in a manner satisfactory to the holder or         holders of such Senior Indebtedness or otherwise discharged in full, or effective provisions         made for its payment, such payment or distribution shall be received and held in trust for         and  shall  be  paid  over  to  the  holders  of  the  Senior  Indebtedness  remaining  unpaid  or         unprovided for or their representative or representatives under the agreements pursuant to         which the Senior Indebtedness may have been issued, for application to the payment of         such Senior Indebtedness until all such Senior Indebtedness shall have been paid in full in         cash or in a manner satisfactory to the holder or holders of such Senior Indebtedness or         otherwise discharged in full, after giving effect to any concurrent payment or distribution         to the holders of such Senior Indebtedness.                Without  in  any  way  modifying  the  provisions  of  this  Annex A  or affecting  the  subordination effected hereby, the Company shall give prompt written notice to the holder of the  Note of any dissolution, winding up, liquidation or reorganization of the Company (whether in   bankruptcy,  insolvency  or  receivership  proceedings  or  upon  an  assignment  for  the  benefit  of   creditors or otherwise).                                SCHEDULE 6.1(w)(2) - 5   

 

                 Section 1.04.  In Furtherance of Subordination.  Each holder of the Note agrees as   follows:                (a)  If any proceeding referred to in Section 1.03 above is commenced by or        against the Company                     the Administrative Agent (as defined in the Credit Agreement referred to in              Section 1.08 below), acting on behalf of each holder of the Senior Indebtedness, is              hereby irrevocably authorized and empowered (in its own name or in the name of              the holder of the Note or otherwise), but shall have no obligation, to demand, sue              for, collect and receive every payment or distribution referred to in Section 1.03(b)              and give acquittance therefor and to file claims and proofs of claim and take such              other action (including, without limitation, voting the claims arising under the Note              or enforcing any security interest or other lien securing payment of the Note) as it              may deem necessary or advisable for the exercise or enforcement of or causing              enforcement  of  any  of  the  rights  or  interests  of  the  holders  of the Senior              Indebtedness hereunder; and                     The  Administrative  Agent  is  hereby  authorized  to  demand  specific              performance of this Note, whether or not the Company shall have complied with              any of the provisions hereof applicable to it, at any time when the holder of the Note              shall have failed to comply with any of the provisions of this Note applicable to it.              The  holder  of  the  Note  hereby  irrevocably  waives  any  defense  based  on  the              adequacy of a remedy at law that might be asserted as a bar to such remedy of              specific performance.                Section 1.05.  Subrogation.  Subject to the prior payment or discharge in cash in   full of all Senior Indebtedness, the holder of the Note shall be subrogated to the rights of the holders   of Senior Indebtedness to receive payments or distributions of assets of the Company applicable   to the Senior Indebtedness until all amounts owing on the Note shall be paid or discharged in full,  and for the purpose of such subrogation no payments or distributions to the holders of the Senior  Indebtedness by or on behalf of the Company or by or on behalf of the holder of the Note by virtue  of this Annex A which otherwise would have been made to the holder of the Note, shall be deemed  to be payment by the Company to or on account of the Note, it being understood that the provisions  of this Annex A are and are intended solely for the purpose of defining the relative rights of the  holder of the Note, on the one hand, and the holders of the Senior Indebtedness, on the other hand.               Section 1.06.  Obligation of the Company Unconditional.  Nothing contained in this   Annex A or in the Note is intended to or shall impair, as between the Company and the holder of   the Note, the obligation of the Company, which is absolute and unconditional, to pay to the holder   of the Note the principal of and interest on the Note as and when the same shall become due and   payable in accordance with its terms, or is intended to or shall affect the relative rights of the holder   of the Note and creditors of the Company other than the holders of the Senior Indebtedness, nor   shall  anything  herein  or  therein  prevent  the  holder  of  the  Note  from  exercising  all  remedies   otherwise permitted by applicable law, subject to the rights, if any, under this Annex A of the   holders of Senior Indebtedness in respect of cash, property, or securities of the Company received   upon the exercise of any such remedy.  Upon any distribution of assets of the Company referred                                SCHEDULE 6.1(w)(2) - 6   

 

   to in this Annex A, the holder of the Note shall be entitled to rely upon any order or decree made  by  any  court  of  competent  jurisdiction  in  which  such  dissolution,  winding  up,  liquidation  or  reorganization proceedings are pending, or a certificate of the liquidating trustee or agent or other  person  making  any  distribution  to  the  holder  of  the  Note,  for  the  purpose  of  ascertaining  the  persons entitled to participate in such distribution, the holders of the Senior Indebtedness and other  indebtedness of the Company, the amount thereof or payable thereon, the amount or amounts paid  or distributed thereon and all other facts pertinent thereto or to this Annex A.               Section  1.07.   Subordination  Rights  Not  Impaired  by  Acts  or  Omissions  of  Company or Holders of Senior Indebtedness.  No rights of any present or future holders of any  Senior Indebtedness to enforce subordination as herein provided shall at any time in any way be  prejudiced or impaired by an act or failure to act on the part of the Company or by any act or failure  to act in good faith by any such holder, or by any noncompliance by the Company with the terms  and provisions of the Note, regardless of any knowledge thereof which any such holder may have  or be otherwise charged with.  The holders of the Senior Indebtedness may, without in any way  affecting the obligations of the holder of the Note with respect thereto, at any time or from time to  time and in their absolute discretion, change the manner, place or terms of payment of, change or  extend the time of payment of, or renew or alter, any Senior Indebtedness, or amend, modify or  supplement any agreement or instrument governing or evidencing such Senior Indebtedness or any  other document referred to therein, or exercise or refrain from exercising any other of their rights  under the Senior Indebtedness including, without limitation, the waiver of a default thereunder and  the release of any collateral securing such Senior Indebtedness, all without notice to or consent  from the holder of the Note.               Section 1.08.  Senior Indebtedness.  (a)  The term “Senior Indebtedness” shall  mean, at any time, the Obligations as such term is defined in the Credit Agreement (as defined  below),  but  excluding  indemnification  and  other  contingent  obligations  (other  than  contingent  reimbursement obligations in respect of amounts that may be drawn under outstanding letters of  credit) in respect of which no assertion of liability and no claim or demand for payment has been  made  (and,  in  the  case  of  indemnification  obligations,  no  notice  for  indemnification  has  been  issued by the indemnitee) at such time.               (b)  As used in this Agreement, the terms set forth below shall have the respective        meanings provided below:               “Credit Agreement” shall mean the Second Amended and Restated Credit and        Guaranty Agreement (as amended, restated, supplemented or otherwise modified on [],        2018 and from time to time) among Covanta Energy, LLC, Covanta Holding Corporation,        as  a  guarantor,  certain  subsidiaries  of  the  Company,  as  guarantors,  the  Lenders  party        thereto,  Bank  of  America,  N.A.,  as  administrative  agent  (in  such  capacity,  the        “Administrative Agent”), and the other banks party thereto, as same may be amended,        modified, extended, renewed, restated or supplemented from time to time, and including        any agreement extending the maturity of, refinancing or restructuring all or any portion of,        or increasing the Obligations under such agreement or of any successor agreements.                                               SCHEDULE 6.1(w)(2) - 7   

 

                                                                 SCHEDULE 6.2                                                         TO CREDIT AGREEMENT                                                                                                                   CERTAIN LIENS     Liens  and  pledges  with  respect  to  indebtedness,  leases  and  other  material  project  documents  concerning Projects of Affiliates to which Foreign Subsidiaries are a party.   Liens in existence on the date of this Agreement on or with respect to assets of any Subsidiary of  Company, to the extent such Liens secure an obligation of such Subsidiary of Company (or an  Affiliate in which such Subsidiary is an equity owner) to Persons other than the Company and its  Excluded Subsidiaries and their respective Affiliates, so long as (a) such obligation is associated  with a Project (or a project of an Affiliate in which such Subsidiary is an equity owner), (b) such  Lien is limited to (1) assets associated with such Project (or project of an Affiliate in which such  Subsidiary is an equity owner) (which in any event shall not include assets held by any Borrower  other than a Borrower whose sole business is the ownership and/or operation of such Project and  substantially all of whose assets are associated with such Project), and/or (2) equity interests in  such  Subsidiary,  but  in  the  case of  clause  (2)  only  if  such  Subsidiary’s  sole  business  is  the  ownership and/or operation of such Project  (or project of an Affiliate in which such Subsidiary is  an equity owner) and substantially all of such Subsidiary’s assets are associated with such Project   (or project of an Affiliate in which such Subsidiary is an equity owner) and (c) such obligation is   otherwise permitted under this Agreement.    Liens on Intellectual Property set forth on Schedule 4.5 to the Pledge and Security Agreement.    Liens in existence on the date of this Agreement evidenced by UCC financing statements listed on   Annex A hereto.                                   SCHEDULE 6.2 - 1  

 

                                                  ANNEX A TO SCHEDULE 6.2                                                       TO CREDIT AGREEMENT                                                                                                                                                                                                             Original File Date   Related        Debtor          Secured Party   State                                                 and Number         Filings                                                     8/9/16  Covanta Bristol, Inc.  RED-D-ARC INC.  CT                                                                         #0003134933                          Caterpillar                                                   7/16/2013      Continuation   Covanta Energy, LLC  Financial Services DE                                                 #2013 2730415      2/07/2018                         Corporation                         Caterpillar                                                   7/30/2013      Continuation   Covanta Energy, LLC  Financial Services DE                                                 #2013 2957091      2/02/2018                         Corporation                      Banc of America                                                   2/14/2014  Covanta Energy, LLC Leasing & Capital, DE                                                                              #2014 0595249                            LLC                      Banc of America                                                   3/27/2014  Covanta Energy, LLC Leasing & Capital, DE                                                                              #2014 1201524                            LLC                      Arbill Industries,           7/2/2014  Covanta Energy, LLC                    DE                                                         Inc.                 #2014 2633139                       Banc of America                                                    1/6/2015  Covanta Energy, LLC Leasing & Capital, DE                                                                              #2015 0046606                            LLC                      Banc of America                                                   1/21/2015  Covanta Energy, LLC Leasing & Capital, DE                                                                              #2015 0266881                            LLC                      Banc of America                                                    5/7/2015  Covanta Energy, LLC Leasing & Capital, DE                                                                              #2015 1956464                            LLC                       CNH Industrial                                                    5/4/2017  Covanta Energy, LLC  Capital America   DE                                                                              #2017 2940184                            LLC                       CNH Industrial                                                    5/4/2017  Covanta Energy, LLC  Capital America   DE                                                                              #2017 2940192                            LLC                      Banc of America                                                   8/11/2017  Covanta Energy, LLC Leasing & Capital, DE                                                                              #2017 5336281                            LLC                      Banc of America                                                   8/11/2017  Covanta Energy, LLC Leasing & Capital, DE                                                                              #2017 5336430                            LLC                      Banc of America                                                    4/2/2018  Covanta Energy, LLC Leasing & Capital, DE                                                                              #2018 2228274                            LLC                               SCHEDULE 6.2-A - 1  

 

                                     Banc of America                                                    5/9/2018  Covanta Energy, LLC Leasing & Capital, DE                                                                              #2018 3148646                            LLC  Covanta Harrisburg,                              8/1/2014                       VFS Leasing Co.   DE                                      Inc.                                    #2014 3087616   Covanta Hennepin                                                   11/5/2007      Continuation  Energy Resource Co,  VFS Leasing Co.   DE                                                 #2017 4206560      10/17/12         LLC   Covanta Hennepin                                                   12/18/2012  Energy Resource Co,  VFS Leasing Co.   DE                                                                              #2012 4939346         LLC   Covanta Hennepin                                                   12/27/2012  Energy Resource Co,  VFS Leasing Co.   DE                                                                              #2012 5051232         LLC   Covanta Honolulu                       Bacon-Universal              5/8/2014   Resource Recovery                     HI                                                     Company, Inc.             #A52410618     Venture, LLC   Covanta Honolulu                       Lease Corporation           3/29/2016   Resource Recovery                     HI                                                      of America               #A-59320657     Venture, LLC                       De Lage Landen  Covanta Indianapolis,                            1/10/2014                      Financial Services, IN                                     Inc.                                  #201400000349104                            Inc. Covanta Indianapolis, Motion Industries,         11/13/2015                                         IN                                      Inc.               Inc.                201500008786724  Covanta Operations of Wells Fargo Bank           9/24/2012      Continuation                                          NJ      Union, LLC            N.A.                   #26255590       04/06/2017   Covanta Projects,     LCA Bank                 12/29/2014                                         DE                                      LLC             Corporation             #2014 5261680    Covanta Projects,     LCA Bank                 12/01/2015                                         DE                                      LLC             Corporation             #2015 5686679    Covanta Projects,     LCA Bank                  1/5/2018                                         DE                                      LLC             Corporation             #2018 0128302   Covanta 4Recovery, Hyster-Yale Group,            7/7/2014       Amendment                                          DE         L.P.               Inc.                 #2014 2669745     02/04/2016                        BMO Harris  Covanta Sustainable                              8/26/2014       Amendment                      Equipment Finance  DE     Solutions, LLC                              #2014 3424330       2/17/15                          Company  Covanta 4Recovery,                       Banc of America  L.P. (became Covanta                             8/27/2014                      Leasing & Capital, DE                               Sustainable Solutions,                         #2014 3446952                            LLC        LLC)                                SCHEDULE 6.2-A - 2  

 

                 Covanta 4Recovery,                       Banc of America  L.P. (became Covanta                             8/27/2014                      Leasing & Capital, DE                               Sustainable Solutions,                         #2014 3447000                            LLC        LLC)  Covanta Sustainable   The Huntington             9/08/2014       Amendment                                          DE     Solutions, LLC     National Bank            #2014 3585122     05/05/2015                        BMO Harris  Covanta Sustainable                               12/19/14       Amendment                      Equipment Finance  DE     Solutions, LLC                              #2014 5172226       2/17/15                          Company                        BMO Harris  Covanta Sustainable                              2/13/2015                      Equipment Finance  DE                                  Solutions, LLC                              #2015 0639533                          Company Covanta Sustainable   TD Equipment               9/16/2014       Amendment                                          DE     Solutions, LLC      Finance, Inc.           #2014 3716362     04/09/2015  Covanta 4Recovery, Hyster-Yale Group,           10/15/2014      Amendment                                          DE         L.P.               Inc.                 #2014 4139788     02/04/2016                       The Huntington   Covanta 4Recovery,   National Bank              10/23/2014                                         DE                                      L.P.         Equipment Finance          #2014 4272407                          Division                       Banc of America  Covanta Sustainable                              2/23/2015                                  Leasing & Capital, DE     Solutions, LLC                              #2015 0750710                                LLC                      Banc of America  Covanta Sustainable                              5/06/2015                      Leasing & Capital, DE                                  Solutions, LLC                              #2015 1946820                            LLC                      Banc of America  Covanta Sustainable                               7/7/2015                      Leasing & Capital, DE                                  Solutions, LLC                              #2015 2925195                            LLC                        Susquehanna    Waste Recovery                                 10/31/2014                         Commercial      FL                                  Solutions, Inc.                             #201402493310                         Finance, Inc.                                                                  Continuation                        Branch Banking              8/16/2004        07/06/09     GARCO, Inc.                         NC                      and Trust Company         #20040081393A     Continuation                                                                     06/26/14                       CNH Industrial                                                   7/14/2016     GARCO, Inc.       Capital America   NC                                                                             #20160071723M                            LLC                               SCHEDULE 6.2-A - 3  

 

                  Advanced Waste     Carriers, Inc.     Advanced Waste   Services of Indiana,         Inc.                                                      Amendment    Advanced Waste                                 6/13/2011       02/29/2012                         Town Bank       WI      Services of                                #110007302012    Continuation    Pennsylvania, LLC                                               01/22/2016    Advanced Waste  Services of Ohio, LLC    Advanced Waste     Services, Inc.    Covanta Metals                                 7/22/2015       Amendment                        VFS Leasing Co.   DE    Marketing LLC                                #2015 3172623     08/27/2015   Covanta Metals      HYG Financial              3/21/2017                                         DE                                 Marketing LLC        Services, Inc.          #2017 1848156                                                                                                                              SCHEDULE 6.2-A - 4  

 

                                                                SCHEDULE 6.9                                                        TO CREDIT AGREEMENT                                                                                                                                                 CERTAIN AFFILIATE TRANSACTIONS     Master Waste Delivery Agreements dated as of October 1, 1995, between TransRiver (n/k/a     Covanta Sustainable Solutions, LLC (“CSS”)) and Covanta Hempstead Company     Management  Services  Agreement  between  Covanta  Waste  to  Energy  Asia  Limited  (Hong     Kong) and Covanta Energy Asia Holdings Ltd. (Mauritius)     Amended and Restated Operating and Maintenance Agreement between Covanta Union and     Covanta Operations of Union, LLC dated December 15, 2011     SEMASS Partnership Amended and Restated Waste Services Subcontract Agreement between     American Ref-Fuel Operations of SEMASS, L.P. and TransRiver Marketing Company, L.P.     n/k/a Covanta Sustainable Solutions, LLC     Intra-Company Energy Marketing Agreement btw Covanta Energy, LLC and various of its     indirect subsidiaries dated April 1, 2011     Non-Ferrous  Materials  Purchase  and  Sales  Agreement  dated  December  19,  2017  between     Covanta Metals Marketing LLC and various Covanta entities     Shared  Services  Agreement  between  Covanta  Energy,  LLC  and  its  direct  and  indirect     subsidiaries dated January 1, 2009 and amended May 2, 2017                                       SCHEDULE 6.9 - 1Exhibit

Exhibit 10.1
EXECUTION VERSION

Published CUSIP Number: 10113MAS3
Term CUSIP Number: 10113MAT1

	
	
	$1,000,000,000
CREDIT AGREEMENT
among
BOSTON SCIENTIFIC CORPORATION, 
as Borrower,
The Several Lenders 
from Time to Time Parties Hereto,
BANK OF AMERICA, N.A.,
MUFG BANK, LTD.,
and
SUMITOMO MITSUI BANKING CORPORATION, 
as Syndication Agents,
WELLS FARGO BANK, NATIONAL ASSOCIATION, 
as Administrative Agent,

Dated as of August 20, 2018

WELLS FARGO SECURITIES, LLC 
as Lead Arranger and Bookrunner

TABLE OF CONTENTS
	
			
	 
	Page
	

	SECTION 1 DEFINITIONS    
	1
	

	1.1.    Defined Terms    
	1
	

	1.2.    Other Definitional Provisions    
	17
	

	 
	 

	SECTION 2 AMOUNT AND TERMS OF COMMITMENTS
	18
	

	2.1.    Term Loans
	18
	

	2.2.    Procedure for Term Loan Borrowing
	18
	

	2.3.    Fees    
	18
	

	2.4.    Repayment of Loans.
	19
	

	2.5.    Increase of Term Loan Commitments
	19
	

	2.6.    Defaulting Lenders
	19
	

	2.7.    Extension of Termination Date
	21
	

	2.8.    Termination of Term Loan Commitments
	22
	

	 
	 

	SECTION 3 CERTAIN PROVISIONS APPLICABLE TO THE LOANS
	22
	

	3.1.    Optional Prepayments
	22
	

	3.2.    Conversion and Continuation Options
	22
	

	3.3.    Minimum Amounts and Maximum Number of Tranches
	23
	

	3.4.    Interest Rates and Payment Dates
	23
	

	3.5.    Computation of Interest and Fees
	24
	

	3.6.    Inability to Determine Interest Rate
	24
	

	3.7.    Pro Rata Treatment and Payments
	25
	

	3.8.    Illegality
	26
	

	3.9.    Requirements of Law
	26
	

	3.10.    Taxes
	28
	

	3.11.    Indemnity
	31
	

	3.12.    Change of Lending Office; Removal of Lender
	32
	

	3.13.    Evidence of Debt
	32
	

	 
	 

	SECTION 4 Reserved    
	33
	

	 
	 

	SECTION 5 Reserved    
	33
	

	 
	 

	SECTION 6 REPRESENTATIONS AND WARRANTIES
	33
	

	6.1.    Financial Condition
	33
	

	6.2.    Corporate Existence; Compliance with Law
	34
	

- i -    

TABLE OF CONTENTS
(continued)
Page

	
			
	6.3.    Corporate Power; Consents and Authorization; Enforceable Obligations
	34
	

	6.4.    No Legal Bar
	35
	

	6.5.    No Default
	35
	

	6.6.    Taxes
	35
	

	6.7.    Federal Regulations
	35
	

	6.8.    ERISA
	35
	

	6.9.    Investment Company Act; Other Regulations
	36
	

	6.10.    Purpose of Loans
	36
	

	6.11.    Environmental Matters
	36
	

	6.12.    Disclosure
	37
	

	6.13.    No Change
	37
	

	6.14.    No Material Litigation
	37
	

	6.15.    Anti-Corruption Laws and Sanctions
	37
	

	 
	 

	SECTION 7 CONDITIONS PRECEDENT
	38
	

	7.1.    Conditions to Closing
	38
	

	 
	 

	SECTION 8 AFFIRMATIVE COVENANTS
	39
	

	8.1.    Financial Statements
	39
	

	8.2.    Certificates; Other Information
	40
	

	8.3.    Payment of Obligations
	41
	

	8.4.    Conduct of Business and Maintenance of Existence
	41
	

	8.5.    Maintenance of Property; Insurance
	41
	

	8.6.    Inspection of Property; Books and Records; Discussions
	42
	

	8.7.    Notices
	42
	

	 
	 

	SECTION 9 NEGATIVE COVENANTS
	43
	

	9.1.    Financial Covenant
	43
	

	9.2.    Limitation on Liens
	43
	

	9.3.    Limitation on Indebtedness pursuant to Receivables Transactions
	44
	

	9.4.    Limitation on Fundamental Changes
	44
	

	9.5.    Limitation on Indebtedness of Subsidiaries
	45
	

	 
	 

	SECTION 10 EVENTS OF DEFAULT
	45
	

	 
	 

	SECTION 11 THE AGENTS
	48
	

	11.1.    Appointment
	48
	

	11.2.    Delegation of Duties
	48
	

	11.3.    Exculpatory Provisions
	48
	

- ii -    

TABLE OF CONTENTS
(continued)
Page

	
			
	11.4.    Reliance by Administrative Agent
	48
	

	11.5.    Notice of Default
	49
	

	11.6.    Non-Reliance on Administrative Agent and Other Lenders
	49
	

	11.7.    Indemnification
	50
	

	11.8.    Administrative Agent in Its Individual Capacity
	50
	

	11.9.    Successor Administrative Agent
	50
	

	11.10.    The Arranger and the Syndication Agents
	51
	

	11.11.    Certain ERISA Matters
	51
	

	 
	 

	SECTION 12 Reserved
	52
	

	 
	 

	SECTION 13 MISCELLANEOUS
	52
	

	13.1.    Amendments and Waivers
	52
	

	13.2.    Notices
	53
	

	13.3.    No Waiver; Cumulative Remedies
	55
	

	13.4.    Survival of Representations and Warranties
	56
	

	13.5.    Payment of Expenses and Taxes
	56
	

	13.6.    Successors and Assigns; Participations and Assignments
	57
	

	13.7.    Adjustments; Set-off
	60
	

	13.8.    Counterparts
	61
	

	13.9.    Severability
	61
	

	13.10.    Integration
	61
	

	13.11.    GOVERNING LAW
	61
	

	13.12.    Submission To Jurisdiction and Waivers;
	61
	

	13.13.    Acknowledgements
	62
	

	13.14.    Confidentiality
	62
	

	13.15.    WAIVERS OF JURY TRIAL
	63
	

	13.16.    USA Patriot Act Notice
	63
	

	13.17.    No Advisory or Fiduciary Responsibility
	63
	

	13.18.    Acknowledgement and Consent to Bail-In of EEA Financial Institutions    
	64
	

    
SCHEDULES
Schedule I    Names and Commitments of Lenders 
Schedule 9.2    Existing Liens
Schedule 9.5    Existing Subsidiary Indebtedness

EXHIBITS
Exhibit A    Form of Term Note 

- iii -    

TABLE OF CONTENTS
(continued)
Page

Exhibit B    Form of Closing Certificate
Exhibit C    Form of Opinion of Counsel to Borrower
Exhibit D    Form of Assignment and Assumption
Exhibit E-1 – E-4     U.S. Tax Compliance Certificate 

- iv -    

CREDIT AGREEMENT, dated as of August 20, 2018, among (i) BOSTON SCIENTIFIC CORPORATION, a Delaware corporation (the “Borrower”), (ii) the several banks and other financial institutions or entities from time to time parties hereto (the “Lenders”), and (iii) WELLS FARGO BANK, NATIONAL ASSOCIATION, as administrative agent for the Lenders hereunder (in such capacity, the “Administrative Agent”).
W I T N E S S E T H:
WHEREAS, the Borrower has requested that the Lenders make Term Loans (as defined below) to the Borrower on the terms and conditions set forth herein;
WHEREAS, the Lenders have agreed to make the Term Loans available upon the terms and subject to the conditions set forth herein; and
WHEREAS, the Term Loans will be used for general corporate purposes; 
NOW, THEREFORE, in consideration of the premises, and of the mutual covenants and agreements herein contained and other good and valuable consideration, receipt of which is hereby acknowledged, the parties hereto hereby agree as follows:
SECTION I 
 
DEFINITIONS
1.1.    Defined Terms.
As used in this Agreement, the following terms shall have the following meanings:
“ABR”:  for any day, a rate per annum equal to the greatest of (a) the Prime Rate in effect on such day, (b) the NYFRB Rate in effect on such day plus 1/2 of 1% per annum and (c) the Eurocurrency Base Rate for a one month Interest Period on such day (or if such day is not a Business Day, the immediately preceding Business Day)  plus 1% per annum.  For purposes hereof:  “Prime Rate” shall mean the rate of interest per annum publicly announced from time to time by the Administrative Agent as its prime rate in effect (the Prime Rate not being intended to be the lowest rate of interest charged by the Administrative Agent in connection with extensions of credit to debtors); and “NYFRB Rate” shall mean, for any day, the greater of (a) the Federal Funds Effective Rate in effect on such day and (b) the Overnight Bank Funding Rate in effect on such day (or for any day that is not a Business Day, for the immediately preceding Business Day); provided that if none of such rates are published for any day that is a Business Day, the term “NYFRB Rate” means the rate for a federal funds transaction quoted at 11:00 A.M. on such day received by the Administrative Agent from a Federal funds broker of recognized standing selected by it (it being agreed the Prime Rate and NYFRB Rate will not be less than zero).  Any change in the ABR due to a change in the Prime Rate, the NYFRB Rate or the Eurocurrency Base Rate shall be effective as of the opening of business on the effective day of such change in the Prime Rate, the NYFRB Rate or the Eurocurrency Base Rate, respectively.
“ABR Loans”:  Term Loans bearing interest based upon the ABR.

- 1 -    

“Accrued Legal Liabilities”: any cash litigation costs, including judgments, orders, awards, settlements and related legal costs, that are accrued prior to, and unpaid as of, August 4, 2017.
“Additional Lender”: as defined in subsection 2.7(c).
“Additional Term Loan Commitment”:  as defined in subsection 2.5.
“Administrative Agent”:  as defined in the preamble hereto.
“Affiliate”:  as to any Person, any other Person (other than a Subsidiary) which, directly or indirectly, is in control of, is controlled by, or is under common control with, such Person.  For purposes of this definition, “control” of a Person means the power, directly or indirectly, either to (a) vote 10% or more of the securities having ordinary voting power for the election of directors of such Person or (b) direct or cause the direction of the management and policies of such Person, whether by contract or otherwise.
“Agent Parties”: as defined in subsection 13.2(c).
“Agents”:  the collective reference to the Administrative Agent, the Syndication Agents,  and the Arranger.
“Aggregate Exposure Percentage”:  as defined in the definition of “Majority Lenders.”
“Agreement”:  this Credit Agreement, as amended, amended and restated, supplemented or otherwise modified from time to time.
“Anti-Corruption Laws”:  the United States Foreign Corrupt Practices Act of 1977, as amended, and all similar laws, rules, and regulations of any jurisdiction applicable to the Borrower or its Subsidiaries prohibiting bribery or corruption.
“Applicable Margin”:  with respect to each day for each Type of Loan, (a) in the case of Eurodollar Loans, 0.65% and (b) in the case of ABR Loans, 0.00%.
“Applicable Screen Rate”:  as defined in the definition of “Impacted Interest Period”.
“Arranger”:  Wells Fargo Securities, LLC, as Lead Arranger for this Agreement.
“Assignee”:  as defined in subsection 13.6(c).
“Bail-In Action”: 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”: 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.

- 2 -    

“Bankruptcy Code”:  the Bankruptcy Code in Title 11 of the United States Code, as amended, modified, succeeded or replaced from time to time. 
“Benefit Plan”: any of (a) an “employee benefit plan” (as defined in Section 3(3) of ERISA) that is subject to Title I of ERISA, (b) a “plan” as defined in Section 4975 of the Code to which Section 4975 of the Code applies and (c) any Person whose assets include (for purposes of the Plan Asset Regulations or otherwise for purposes of Title I of ERISA or Section 4975 of the Code) the assets of any such “employee benefit plan” or “plan”.
“benefited Lender”:  as defined in subsection 13.7(a). 
“Board”:  the Board of Governors of the Federal Reserve System.
“Borrower”:  as defined in the preamble hereto. 
“Borrower Materials”: as defined in subsection 8.2.
“Borrowing Date”:  any Business Day specified in a notice pursuant to subsection 2.2 as a date on which the Borrower requests the Lenders to make Loans hereunder.
“Business”:  as defined in subsection 6.11(b).
“Business Day”:  a day other than a Saturday, Sunday or other day on which commercial banks in New York are authorized or required by law to close; provided that if such day relates to any interest rate settings as to a Eurodollar Loan, any fundings, disbursements, settlements and payments in respect of any such Eurodollar Loan, or any other dealings to be carried out pursuant to this Agreement in respect of any such Eurodollar Loan, then “Business Day” means any such day that is also a London Banking Day.
“Capital Lease Obligations”:  as to any Person, the obligations of such Person to pay rent or other amounts under any lease of (or other arrangement conveying the right to use) real or personal property, or a combination thereof, which obligations are required to be classified and accounted for as capital leases on a balance sheet of such Person under GAAP and, for the purposes of this Agreement, the amount of such obligations at any time shall be the capitalized amount thereof at such time determined in accordance with GAAP.
“Capital Stock”:  any and all shares, interests, participations or other equivalents (however designated) of capital stock of a corporation, any and all equivalent ownership interests in a Person (other than a corporation) and any and all warrants or options to purchase any of the foregoing.
“Closing Date”:  August 20, 2018.
“Code”:  the Internal Revenue Code of 1986, as amended from time to time.
“Commonly Controlled Entity”:  an entity, whether or not incorporated, which is under common control with the Borrower within the meaning of Section 4001(a)(14)(A)-(B) of ERISA 

- 3 -    

or is part of a group which includes the Borrower and which is treated as a single employer under Sections 414(b), 414(c), 414(m) and 414(o) of the Code.
“Conduit Lender”:  any special purpose corporation organized and administered by any Lender for the purpose of making Loans otherwise required to be made by such Lender and designated by such Lender in a written instrument; provided, that the designation by any Lender of a Conduit Lender shall not relieve the designating Lender of any of its obligations to fund a Loan under this Agreement if, for any reason, its Conduit Lender fails to fund any such Loan, and the designating Lender (and not the Conduit Lender) shall have the sole right and responsibility to deliver all consents and waivers required or requested under this Agreement with respect to its Conduit Lender; and provided, further, that no Conduit Lender shall (a) be entitled to receive any greater amount pursuant to subsection 3.9, 3.10, 3.11 or 13.5 than the designating Lender would have been entitled to receive in respect of the extensions of credit made by such Conduit Lender or (b) be deemed to have any Term Loan Commitment.
“Consolidated EBITDA”:  of any Person for any period, without duplication, Consolidated Net Income of such Person and its Subsidiaries for such period plus, to the extent reflected as a charge in the statement of such Consolidated Net Income for such period, the sum of:
(a) income tax expense, including any expenses resulting from income tax disputes with a Governmental Authority,
(b) Consolidated Interest Expense of such Person and its Subsidiaries, amortization or writeoff of debt discount and debt issuance costs and commissions, discounts and other fees and charges associated with Indebtedness, 
(c) depreciation expense, 
(d) amortization or write-down of intangibles (including, but not limited to, goodwill) and organization costs, 
(e) any extraordinary, unusual or nonrecurring expenses or losses (to the extent any of the foregoing are non-cash items) (including, whether or not otherwise includable as a separate item in the statement of such Consolidated Net Income for such period, losses on sales of assets outside of the ordinary course of business (including as a result of write downs of goodwill or net intangible assets) and including special charges and purchased research and development charges in connection with acquisitions and other strategic alliances, inventory step-up charges, fair value adjustments, and unrealized investment impairments), 
(f) any non-cash stock compensation expense in accordance with GAAP, 
(g) any cash litigation costs (other than Accrued Legal Liabilities), including judgments, orders, awards, settlements and related legal costs paid during such period (net of any cash litigation or settlement payments received during such period ) (“Cash Litigation Payments”), provided that, solely for the purposes of this definition, the aggregate amount of Cash Litigation Payments under this clause (g) shall not exceed $1,000,000,000 since August 4, 2017, 

- 4 -    

(h) any cash or non-cash charges in respect of restructurings, plant closings, staff reductions, distributor network optimization initiatives, distribution technology optimization initiatives or other similar charges, provided that, solely for the purposes of this definition, the aggregate amount of all charges under this clause (h) shall not exceed $500,000,000 since August 4, 2017,
(i) any income or expense associated with business combinations following the adoption of FASB Statement No. 141(R), “Business Combinations - a replacement of FASB Statement No. 141”, which would have been treated as a cost of the acquisition (e.g., as goodwill) under FASB Statement No. 141, “Business Combinations” including income or expense relating to contingent consideration, 
(j) any Non-Cash Charges, including those attributable to litigation, intangible asset impairment, intellectual property research and development charges, and
(k) any cash payment of Accrued Legal Liabilities, provided that, solely for the purposes of this definition, since August 4, 2017, the aggregate amount of Accrued Legal Liabilities added back to Consolidated EBITDA pursuant to this clause (k) shall not exceed $1,624,000,000;
and minus, to the extent included in the statement of such Consolidated Net Income for such period, the sum of 
(a) interest income (except to the extent deducted in determining Consolidated Interest Expense), and
(b) any extraordinary, unusual or nonrecurring income or gains (to the extent any of the foregoing are non-cash items) (including, whether or not otherwise includable as a separate item in the statement of such Consolidated Net Income for such period, gains on the sales of assets outside of the ordinary course of business, inventory step-up charges, fair value adjustments, and unrealized investment impairments).
“Non-Cash Charges”: (a) losses on asset sales, disposals or abandonments, (b) any impairment charge or asset write-off related to intangible assets, long-lived assets, and investments in debt and equity securities pursuant to GAAP, (c) all losses from investments recorded using the equity method, (d) stock-based awards compensation expense, and (e) other non-cash charges (provided that if any non-cash charges referred to in this clause (e) represent an accrual or reserve for potential cash items in any future period, the cash payment in respect thereof in such future period shall be subtracted from Consolidated EBITDA to such extent, and excluding amortization of a prepaid cash item that was paid in a prior period).
“Consolidated Interest Expense”:  of any Person for any period, total interest expense of such Person and its Subsidiaries for such period with respect to all outstanding Indebtedness of such Person and its Subsidiaries determined in accordance with GAAP (including, all net costs that are allocable to such period in accordance with GAAP).
“Consolidated Leverage Ratio”:  as at the last day of any period of four consecutive fiscal quarters of the Borrower, the ratio of (a) Consolidated Total Debt on such day to (b) Consolidated EBITDA of the Borrower and its Subsidiaries for such period.

- 5 -    

“Consolidated Net Income”:  of any Person for any period, the consolidated net income (or loss) of such Person and its Subsidiaries for such period, determined on a consolidated basis in accordance with GAAP plus cash receipts received in connection with litigation related Non-Cash Charges and minus cash payments made in connection with such litigation related Non-Cash Charges.
“Consolidated Tangible Assets”:  at any date, Consolidated Total Assets minus (without duplication) the net book value of all assets which would be treated as intangible assets, as determined on a consolidated basis in accordance with GAAP.
“Consolidated Total Assets”:  at any date, the net book value of all assets of the Borrower and its Subsidiaries as determined on a consolidated basis in accordance with GAAP.
“Consolidated Total Debt”:  at any date, an amount equal to the aggregate principal amount of all Indebtedness (excluding, for the avoidance of doubt, any operating leases) of the Borrower and its Subsidiaries at such date, determined on a consolidated basis in accordance with GAAP as in effect on the date of this Agreement and with subsection 1.2(e).
“Continuing Directors”:  as defined in subsection 10(i).
“Contractual Obligation”:  as to any Person, any provision of any security issued by such Person or of any agreement, instrument or other undertaking to which such Person is a party or by which it or any of its property is bound.
“Debtor Relief Laws”: the Bankruptcy Code, and all other liquidation, conservatorship, bankruptcy, assignment for the benefit of creditors, moratorium, rearrangement, receivership, insolvency, reorganization, or similar debtor relief laws of the United States or other applicable jurisdictions from time to time in effect and affecting the rights of creditors generally.
“Default”:  any of the events specified in Section 10, whether or not any requirement for the giving of notice, the lapse of time, or both, or any other condition, has been satisfied.
“Defaulting Lender”: subject to subsection 2.6(b), any Lender that, as reasonably determined by the Administrative Agent, (a) has failed to perform any of its funding obligations hereunder,  including in respect of its Loans, within two Business Days of the date required to be funded by it hereunder (other than as a result of a good faith dispute with respect to amount), (b) has notified the Borrower, the Administrative Agent or any Lender that it does not intend to comply with its funding obligations or has made a public statement to that effect with respect to its funding obligations hereunder or generally under other agreements in which it commits to extend credit, (c) has failed, within three Business Days after request by the Administrative Agent, to provide a certification in writing from an authorized officer of such Lender that it will comply with its funding obligations (and is financially able to meet such obligations), provided that such Lender shall cease to be a Defaulting Lender pursuant to this clause (c) upon the Administrative Agent’s receipt of such certification in form and substance satisfactory to it and the Borrower, or (d) has (i) become the subject of a proceeding under any Debtor Relief Law or a Bail-In Action, (ii) had a receiver, conservator, trustee, administrator, assignee for the benefit of creditors or similar Person charged with reorganization or liquidation of its business or a 

- 6 -    

custodian appointed for it, or (iii) taken any action in furtherance of, or indicated its consent to, approval of or acquiescence in any such proceeding or appointment; provided that a Lender shall not be a Defaulting Lender solely by virtue of the ownership or acquisition of any equity interest in that Lender or any direct or indirect parent company thereof by a Governmental Authority as long as such ownership or acquisition interest does not result in or provide such Lender with immunity from the jurisdiction of courts within the United States 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 by such Lender.
“Dollars” and “$”:  dollars in lawful currency of the United States of America.
“EEA Financial Institution”: (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”: any of the member states of the European Union, Iceland, Liechtenstein, and Norway.
“EEA Resolution Authority”: 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.
“Environmental Laws”:  any and all applicable foreign, Federal, state, local or municipal laws, rules, regulations, statutes, ordinances, codes, decrees or other enforceable requirements or orders of any Governmental Authority or other Requirements of Law regulating, relating to or imposing liability or standards of conduct concerning protection of human health or the environment, as now or may at any time hereafter be in effect.
“ERISA”:  the Employee Retirement Income Security Act of 1974, as amended from time to time.
“EU Bail-In Legislation Schedule”: the EU Bail-In Legislation Schedule published by the Loan Market Association (or any successor Person), as in effect from time to time. 
“Eurocurrency Rate”:  
(a)    for any Interest Period with respect to a Eurodollar Loan, a rate per annum determined in accordance with the following formula:
	
	
	Eurocurrency Base Rate

	1.00 - Eurocurrency Reserve Requirements

	 

where,

- 7 -    

“Eurocurrency Base Rate” means with respect to each day during each Interest Period pertaining to a Eurodollar Loan, the rate per annum determined by the Administrative Agent to be the rate administered by the ICE Benchmark Administration (or any successor thereto) as the offered rate for deposits in Dollars with a term comparable to such Interest Period appearing on the Reuters Screen LIBOR01 Page at approximately 11:00 A.M., London time, two Business Days prior to the beginning of such Interest Period; provided, however, that if at any time for any reason such offered rate does not appear on a Reuters page, “Eurocurrency Base Rate” shall mean, with respect to each day during each Interest Period pertaining to a Loan denominated in Dollars, the rate per annum determined by the Administrative Agent to be the average rate at which the Administrative Agent’s London branch is offered deposits in Dollars at or about 11:00 A.M., London time, two Business Days prior to the beginning of such Interest Period in the London interbank market for delivery on the first day of such Interest Period for the number of days comprised therein; provided that if any Interest Period is an Impacted Interest Period, then the Eurocurrency Base Rate shall be the Interpolated Rate for such Interest Period; and 
(b)    for any interest calculation with respect to an ABR Loan, a rate per annum determined in accordance with the following formula:
	
	
	Eurocurrency Base Rate

	1.00 - Eurocurrency Reserve Requirements

	 

where,
“Eurocurrency Base Rate” means for any interest calculation with respect to an ABR Loan on any date, the rate per annum equal to (i) the rate appearing on the Reuters Screen LIBOR01 Page, at approximately 11:00 A.M., London time determined two Business Days prior to such date for Dollar deposits being delivered in the London interbank market for a term of one month commencing that day or (ii) if such published rate is not available at such time for any reason, the rate per annum determined by the Administrative Agent to be the rate at which deposits in Dollars for delivery on the date of determination in same day funds in the approximate amount of the ABR Loan being made or maintained and with a term equal to one month would be offered by the Administrative Agent’s London branch to major banks in the London interbank Eurodollar market at their request at the date and time of determination.  
The Eurocurrency Rate shall not be less than zero.
“Eurocurrency Reserve Requirements”:  for any day as applied to a Loan, the aggregate (without duplication) of the rates (expressed as a decimal) of reserve requirements in effect on such day (including, without limitation, basic, supplemental, marginal and emergency reserves) under any regulations of the Board or other Governmental Authority having jurisdiction with respect thereto dealing with reserve requirements prescribed for eurocurrency funding (currently referred to as “Eurocurrency Liabilities” in Regulation D of such Board) maintained by a member bank of such System.
“Eurodollar Loans”:  Term Loans, the rate of interest applicable to which is based upon clause (a) of the definition of “Eurocurrency Rate”.

- 8 -    

“Event of Default”:  any of the events specified in Section 10, provided that any requirement for the giving of notice, the lapse of time, or both, or any other condition, has been satisfied.
“Excluded Taxes”: as defined in subsection 3.10(a).
“Extension Request”: a written request from the Borrower to the Administrative Agent requesting an extension of the Termination Date. 
“FATCA”:  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, any applicable intergovernmental agreements with respect thereto, any law, regulations, or other official guidance enacted in any other jurisdictions relating to such intergovernmental agreement, and any agreement entered into pursuant to Section 1471(b)(1) of the Code. 
“Federal Funds Effective Rate”: for any day, the rate calculated by the NYFRB based on such day’s federal funds transactions by depositary institutions (as determined in such manner as the NYFRB shall set forth on its public website from time to time) and published on the next succeeding Business Day by the NYFRB as the federal funds effective rate, provided that if the Federal Funds Effective Rate shall be less than zero, such rate shall be deemed to zero for the purposes of this Agreement.
 “Financing Lease”:  any lease of property, real or personal, the obligations of the lessee in respect of which are required in accordance with GAAP to be capitalized on a balance sheet of the lessee.
“GAAP”:  generally accepted accounting principles in the United States of America consistent with those utilized in preparing the audited financial statements referred to in subsection 6.1.
“Governmental Authority”:  any nation or government, any state or other political subdivision thereof and any entity exercising executive, legislative, judicial, regulatory or administrative functions of or pertaining to government.
“Guarantee Obligation”:  as to any Person (the “guaranteeing person”), any obligation of (a) the guaranteeing person or (b) another Person (including, without limitation, any bank under any letter of credit) to induce the creation of which the guaranteeing person has issued a reimbursement, counterindemnity or similar obligation, in either case guaranteeing or in effect guaranteeing any Indebtedness, leases, dividends or other obligations (the “primary obligations”) of any other unrelated third Person (the “primary obligor”) in any manner, whether directly or indirectly, including, without limitation, any obligation of the guaranteeing person, whether or not contingent, (i) to purchase any such primary obligation or any property constituting direct or indirect security therefor, (ii) to advance or supply funds (1) for the purchase or payment of any such primary obligation or (2) to maintain working capital or equity capital of the primary obligor or otherwise to maintain the net worth or solvency of the primary obligor, (iii) to purchase property, securities or services primarily for the purpose of assuring the owner of any 

- 9 -    

such primary obligation of the ability of the primary obligor to make payment of such primary obligation or (iv) otherwise to assure or hold harmless the owner of any such primary obligation against loss in respect thereof; provided, however, that the term Guarantee Obligation shall not include endorsements of instruments for deposit or collection in the ordinary course of business.  The amount of any Guarantee Obligation of any guaranteeing person shall be deemed to be the lower of (a) an amount equal to the stated or determinable amount of the primary obligation in respect of which such Guarantee Obligation is made and (b) the maximum amount for which such guaranteeing person may be liable pursuant to the terms of the instrument embodying such Guarantee Obligation, unless such primary obligation and the maximum amount for which such guaranteeing person may be liable are not stated or determinable, in which case the amount of such Guarantee Obligation shall be such guaranteeing person’s reasonably anticipated liability in respect thereof as determined by the Borrower in good faith.
“Hedge Agreements”:  all agreements with non-related third parties with respect to any swap, forward, future or derivative transaction or option or similar agreements involving, or settled by reference to, one or more rates, currencies, commodities, equity or debt instruments or securities, or economic, financial or pricing indices or measures of economic, financial or pricing risk or value or any similar transaction or any combination of these transactions; provided that no employee benefit plan of the Borrower or any of its Subsidiaries shall be a “Hedge Agreement.”
“Impacted Interest Period”: any Interest Period for which the applicable rate or screen used to determine the applicable rate (the “Applicable Screen Rate”) shall not be available at the applicable time for such Interest Period.
“Indebtedness”:  of any Person at any date, without duplication, (a) all obligations of such Person for borrowed money, (b) all obligations of such Person for the deferred purchase price of property or services (other than current trade liabilities incurred in the ordinary course of such Person’s business and payable in accordance with customary practices and earn-outs and other similar obligations in respect of acquisition and other similar agreements), (c) all obligations of such Person evidenced by notes, bonds, debentures or other similar instruments, (d) all indebtedness created or arising under any conditional sale or other title retention agreement with respect to property acquired by such Person (even though the rights and remedies of the seller or lender under such agreement in the event of default are limited to repossession or sale of such property), (e) all Capital Lease Obligations of such Person, (f) all obligations of such Person, contingent or otherwise, as an account party or applicant under or in respect of acceptances, letters of credit, surety bonds or similar arrangements, (g) the liquidation value of all redeemable preferred Capital Stock of such Person, (h) all indebtedness of such Person, determined in accordance with GAAP, arising out of a Receivables Transaction, (i) all Guarantee Obligations of such Person in respect of obligations of the kind referred to in clauses (a) through (h) above, (j) all obligations of the kind referred to in clauses (a) through (i) above secured by (or for which the holder of such obligation has an existing right, contingent or otherwise, to be secured by) any Lien on property (including accounts and contract rights) owned by such Person, whether or not such Person has assumed or become liable for the payment of such obligation, and (k) for the purposes of subsection 10(e) only, all obligations of such Person in respect of Hedge Agreements.  The Indebtedness of any Person shall, for the avoidance of doubt, exclude any operating leases (as defined in GAAP as in effect on the date of this Agreement) and the Indebtedness of any Person shall include the Indebtedness of any other entity (including any 

- 10 -    

partnership in which such Person is a general partner) to the extent such Person is liable therefor as a result of such Person’s ownership interest in or other relationship with such entity, except to the extent the terms of such Indebtedness expressly provide that such Person is not liable therefor.
“indemnified liabilities”: as defined in subsection 13.5.
“indemnified party”: as defined in subsection 13.5.
“Information”: as defined in subsection 13.14.
“Insolvency”:  with respect to any Multiemployer Plan, the condition that such Multiemployer Plan is insolvent within the meaning of Section 4245 of ERISA.
“Interest Payment Date”:  (a) as to any ABR Loan, the last day of each March, June, September and December and the Termination Date, (b) as to any Eurodollar Loan having an Interest Period of three months or less, the last day of such Interest Period, and (c) as to any Eurodollar Loan having an Interest Period longer than three months, each day which is three months, or a whole multiple thereof, after the first day of such Interest Period and the last day of such Interest Period.
“Interest Period”:  with respect to any Eurodollar Loan:
(i)    initially, the period commencing on the Borrowing Date or conversion date, as the case may be, with respect to such Eurodollar Loan and ending one, two, three or six (or, if available to all Lenders, twelve) months thereafter, as selected by the Borrower in its notice of borrowing or notice of conversion, as the case may be, given with respect thereto; and
(ii)    thereafter, each period commencing on the last day of the next preceding Interest Period applicable to such Eurodollar Loan and ending one, two, three or six (or, if available to all Lenders, twelve) months thereafter, as selected by the Borrower by irrevocable notice to the Administrative Agent not less than three Business Days prior to the last day of the then current Interest Period with respect thereto;
provided that, all of the foregoing provisions relating to Interest Periods are subject to the following:
(1)if any Interest Period would otherwise end on a day that is not a Business Day, such Interest Period shall be extended to the next succeeding Business Day unless the result of such extension would be to carry such Interest Period into another calendar month in which event such Interest Period shall end on the immediately preceding Business Day;
(2)    any Interest Period in respect of any Loan made by any Lender that would otherwise extend beyond the Termination Date applicable to such Lender shall end on such Termination Date; and

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(3)    any Interest Period that begins on the last Business Day of a calendar month (or on a day for which there is no numerically corresponding day in the calendar month at the end of such Interest Period) shall end on the last Business Day of a calendar month.
“Interpolated Rate”:  at any time, for any Interest Period, the rate per annum (rounded to the same number of decimal places as the Applicable Screen Rate) determined by the Administrative Agent (which determination shall be conclusive and binding absent manifest error) to be equal to the rate that results from interpolating on a linear basis between: (a) the Applicable Screen Rate for the longest period for which the Applicable Screen Rate is available) that is shorter than the Impacted Interest Period; and (b) the Applicable Screen Rate for the shortest period (for which that Applicable Screen Rate is available) that exceeds the Impacted Interest Period, in each case, at such time.  The Interpolated Rate shall not be less than zero.
“Lender Affiliate”:  (a) any Affiliate of any Lender, (b) any Person that is administered or managed by any Lender and that is engaged in making, purchasing, holding or otherwise investing in commercial loans and similar extensions of credit in the ordinary course of its business and (c) with respect to any Lender which is a fund that invests in commercial loans and similar extensions of credit, any other fund that invests in commercial loans and similar extensions of credit and is managed or advised by the same investment advisor as such Lender or by an Affiliate of such Lender or investment advisor.
“Lenders”:  as defined in the preamble hereto together with any affiliate of any such Person through which such Person elects, by notice to the Administrative Agent and the Borrower, to make any Loans available to the Borrower; provided that, for all purposes of voting or consenting with respect to (a) any amendment, supplementation or modification of any Loan Document, (b) any waiver of any requirements of any Loan Document or any Default or Event of Default and its consequences, or (c) any other matter as to which a Lender may vote or consent pursuant to subsection 13.1 of this Agreement, the Lender making such election shall be deemed the “Person” rather than such affiliate, which shall not be entitled to vote or consent.
“Lien”:  any mortgage, pledge, hypothecation, assignment, deposit arrangement, encumbrance, lien (statutory or other), charge or other security interest or any preference, priority or other security agreement or preferential arrangement of any kind or nature whatsoever (including, without limitation, any conditional sale or other title retention agreement and any Financing Lease having substantially the same economic effect as any of the foregoing but excluding for all purposes hereunder any letter of credit).
“Loan”:  any Term Loan.
“Loan Documents”:  this Agreement and any Notes.
“London Banking Day”: any day on which dealings in Dollar deposits are conducted by and between banks in the London interbank eurodollar market.
“Majority Lenders”:  Lenders whose Aggregate Exposure Percentage in the aggregate is more than 50%.  “Aggregate Exposure Percentage”:  as at any date of determination with respect 

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to any Lender (a) at any time prior to the termination of the Term Loan Commitments, the aggregate Term Loan Commitments of such Lender divided by the aggregate Term Loan Commitments of all Lenders and (b) at any time after the termination of the Term Loan Commitments, the aggregate outstanding principal amount of the Term Loans of such Lender divided by the aggregate outstanding principal amount of Term Loans of all Lenders; provided that the Term Loan Commitment of, and the aggregate outstanding principal amount of the Term Loans held or deemed to be held by, any Defaulting Lender shall be excluded for purposes of making a determination of Majority Lenders.
“Material Adverse Effect”:  a material adverse effect on (a) the business, operations, property or condition (financial or otherwise) of the Borrower and its Subsidiaries taken as a whole or (b) the validity or enforceability of this Agreement or any of the other Loan Documents or the rights or remedies of the Administrative Agent or the Lenders hereunder or thereunder.
“Materials of Environmental Concern”:  any gasoline or petroleum (including crude oil or any fraction thereof) or petroleum products or any hazardous or toxic substances, materials or wastes, defined or regulated as such in or under any Environmental Law, including, without limitation, asbestos, polychlorinated biphenyls and urea-formaldehyde insulation.
“Maximum Leverage Ratio”:  3.50 to 1.00; provided that (i) for the two consecutive fiscal quarters ended immediately following the consummation of any Qualified Acquisition (including the fiscal quarter in which such Qualified Acquisition occurs), the Maximum Leverage Ratio shall be 4.50 to 1.00, (ii) for the fiscal quarter ended immediately after such two fiscal quarters referred to in clause (i), the Maximum Leverage Ratio shall be 4.25 to 1.00, (iii) for the fiscal quarter ended immediately after the fiscal quarter referred to in clause (ii), the Maximum Leverage Ratio shall be 4.00 to 1.00, (iv) for the fiscal quarter ended immediately after the fiscal quarter referred to in clause (iii), the Maximum Leverage Ratio shall be 3.75 to 1.00 (and, for the avoidance of doubt, for each fiscal quarter ended after the fiscal quarter referred to in clause (iv), the Maximum Leverage Ratio shall be 3.50 to 1.00).
“Multiemployer Plan”:  a Plan which is a multiemployer plan as defined in Section 4001(a)(3) of ERISA.
“Non-Cash Charges”: as defined in the definition of “Consolidated EBITDA.”
“Non-Consenting Lender”: any Lender that does not approve any consent, waiver or amendment that (i) requires the approval of all affected Lenders in accordance with the terms of subsection 13.1 and (ii) has been approved by the Majority Lenders.
“Non-Excluded Taxes”:  as defined in subsection 3.10(a).
“Non-extending Lender”: as defined in subsection 2.7(a).
“Non-U.S. Lender”: a Lender that is not a U.S. Person. 
“Notes”:  the collective reference to any Term Notes.
“NYFRB”: the Federal Reserve Bank of New York.

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“Obligations”:  collectively, the unpaid principal of and interest on the Loans and all other obligations and liabilities of the Borrower under this Agreement and other Loan Documents to which it is a party (including, without limitation, interest accruing at the then applicable rate provided in this Agreement or any other applicable Loan Document after the maturity of the Loans and interest accruing at the then applicable rate provided in this Agreement or any other applicable Loan Document after the filing of any petition in bankruptcy, or the commencement of any insolvency, reorganization or like proceeding, relating to the Borrower, whether or not a claim for post-filing or post‐petition interest is allowed in such proceeding), whether direct or indirect, absolute or contingent, due or to become due, or now existing or hereafter incurred, which may arise under, out of, or in connection with, this Agreement, the Notes, the other Loan Documents, Hedge Agreements entered into with Lenders  or any other document made, delivered or given in connection therewith, in each case whether on account of principal, interest, reimbursement obligations, fees, indemnities, costs, expenses or otherwise (including, without limitation, all fees and disbursements of counsel to the Administrative Agent or to the Lenders that are required to be paid by the Borrower pursuant to the terms of this Agreement or any other Loan Document).
“Overnight Bank Funding Rate”: for any day, the rate comprised of both overnight federal funds and overnight Eurodollar borrowings by U.S.-managed banking offices of depository institutions, as such composite rate shall be determined by the NYFRB as set forth on its public website from time to time, and published on the next succeeding Business Day by the NYFRB as an overnight bank funding rate (from and after such date as the NYFRB shall commence to publish such composite rate).
“Participant”:  as defined in subsection 13.6(b).
“Participant Register”: as defined in subsection 13.6(b).
“Patriot Act”:  as defined in subsection 13.16.
“PBGC”:  the Pension Benefit Guaranty Corporation established pursuant to Subtitle A of Title IV of ERISA.
“Person”:  an individual, partnership, corporation, business trust, joint stock company, trust, unincorporated association, joint venture, Governmental Authority or other entity of whatever nature.
“Plan”:  at a particular time, any employee benefit plan which is covered by ERISA and in respect of which the Borrower or a Commonly Controlled Entity is (or, if such plan were terminated at such time, would under Section 4069 of ERISA be deemed to be) an “employer” as defined in Section 3(5) of ERISA.
“Plan Asset Regulations”: 29 C.F.R. §2510.3-101 , et seq ., as modified by Section 3(42) of ERISA.
“Platform”:  as defined in subsection 8.2.
“Properties”:  as defined in subsection 6.11(a).

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“PTE”: a prohibited transaction class exemption issued by the U.S. Department of Labor, as any such exemption may be amended from time to time.
“Public Lender”:  as defined in subsection 8.2.
“Qualified Acquisition”:  a transaction permitted under this Agreement and consummated on or after the Closing Date, (a) by which the Borrower or any of its Subsidiaries (i) acquires any going concern or business or all or substantially all of the assets of any firm, corporation or limited liability company, or division or business unit thereof, whether through purchase of assets, merger or otherwise or (ii) directly or indirectly acquires at least a majority (in number of votes) of the Capital Stock of a Person if the aggregate amount of Indebtedness incurred by the Borrower and its Subsidiaries to finance the purchase price and other consideration for such transaction, plus the amount of Indebtedness assumed by the Borrower and its Subsidiaries in connection with such transaction, is at least $1,000,000,000 and (b) for which the Borrower notifies the Administrative Agent in writing prior to or promptly upon consummation of such transaction that such transaction shall be a “Qualified Acquisition” for purposes of this Agreement.
“Receivables”:  any accounts receivable of any Person, including, without limitation, any thereof constituting or evidenced by chattel paper, instruments or general intangibles (as defined in the Uniform Commercial Code of the State of New York), and all proceeds thereof and rights (contractual and other) and collateral related thereto.
“Receivables Transaction”:  any transactions or series of related transactions providing for the financing of Receivables of the Borrower or any of its Subsidiaries.
“Register”:  as defined in subsection 13.6(d).
“Related Parties”:  with respect to any Person, such Person’s Affiliates and partners, officers, employees, agents and advisors of such Person and such Person’s Affiliates.
“Reportable Event”:  any of the events set forth in Section 4043(c) of ERISA, other than those events as to which the thirty day notice period is waived under regulations issued under PBGC Reg. § 4043 or which notice is otherwise waived by PBGC.
“Requirement of Law”:  as to any Person, the Certificate of Incorporation and By-Laws or other organizational or governing documents of such Person, and any law, treaty, rule or regulation or determination of an arbitrator or a court or other Governmental Authority, in each case applicable to or binding upon such Person or any of its property or to which such Person or any of its property is subject.
“Response Date”:  as defined in subsection 2.7.
“Responsible Officer”:  the chief executive officer or the president of the Borrower or, with respect to financial matters, the chief financial officer of the Borrower.
“Revolving Credit Agreement”:  that certain Credit Agreement, dated as of August 4, 2017 (as amended, supplemented or otherwise modified from time to time, among the Borrower, 

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the banks and financial institutions from time to time parties thereto and JPMorgan Chase Bank, N.A., as administrative agent thereunder.
“Sanctioned Country”:  a country or territory which is the subject or target of any Sanctions (as of the Closing Date, the Crimea region of Ukraine, Cuba, Iran, North Korea, Sudan and Syria).
“Sanctioned Person”:  (a) any Person listed in any Sanctions-related list of designated Persons maintained by the Office of Foreign Assets Control of the U.S. Department of the Treasury, the U.S. Department of State, the United Nations Security Council, the European Union or the United Kingdom, (b) any Person operating, organized or resident in a Sanctioned Country or (c) any Person 50 percent or more owned or controlled by any such Person.
“Sanctions”:  economic or financial sanctions or trade embargoes 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. Department of the Treasury or the U.S. Department of State, or (b) the United Nations Security Council, the European Union or the United Kingdom.
“Single Employer Plan”:  any Plan that is covered by Title IV of ERISA, but that is not a Multiemployer Plan.
“Subsidiary”:  as to any Person, a corporation, limited liability company, partnership or other entity of which shares of stock or other ownership interests having ordinary voting power (other than stock or such other ownership interests having such power only by reason of the happening of a contingency) to elect a majority of the board of directors or other managers of such corporation, partnership or other entity are at the time owned, or the management of which is otherwise controlled, directly or indirectly through one or more intermediaries, or both, by such Person.  Unless otherwise qualified, all references to a “Subsidiary” or to “Subsidiaries” in this Agreement shall refer to a Subsidiary or Subsidiaries of the Borrower.
“Syndication Agents”:  Bank of America, N.A., MUFG Bank, Ltd. and Sumitomo Mitsui Banking Corporation, as Syndication Agents for this Agreement.
“Taxes”:  all present or future taxes, levies, imposts, duties, deductions, withholdings, assessments or other charges in the nature of a tax imposed by any Governmental Authority, including any interest additions or penalties applicable thereto.
“Term Loan Commitment”:  as to any Lender, the obligation of such Lender to make Term Loans to the Borrower hereunder on the Closing Date in an aggregate principal amount not to exceed the amount set forth opposite such Lender’s name on Schedule I under the heading “Term Loan Commitment,” as such amount may be reduced or increased from time to time in accordance with the provisions of this Agreement.
“Term Loan Commitment Percentage”:  as to any Lender at any time, the percentage which such Lender’s Term Loan Commitment at such time constitutes of the aggregate Term Loan Commitments of all Lenders at such time (or, if the Term Loan Commitments have terminated or expired, the percentage which (a) the aggregate Term Loans of such Lender at such time then constitutes of (b) the aggregate Term Loans of all Lenders at such time).

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“Term Loan”:  as defined in subsection 2.1.
“Term Note”:  as defined in subsection 3.13(d).
“Termination Date”:  August 19, 2019.
“Tranche”:  the collective reference to Eurodollar Loans the then current Interest Periods with respect to all of which begin on the same date and end on the same later date (whether or not such Loans shall originally have been made on the same day); Tranches may be identified as “Eurodollar Tranches”.
“Transactions”:  the execution and delivery of this Agreement.
“Transferee”:  as defined in subsection 13.6(f).
“Type”:  as to any Term Loan, its nature as an ABR Loan or a Eurodollar Loan.
“United States”:  the United States of America (including the states, commonwealths and territories thereof and the District of Columbia).
“U.S. Tax Compliance Certificate”: as defined in subsection 3.10(c)(B)(iii).
“U.S. Person”: a “United States person” within the meaning of Section 7701(a)(30) of the Code.
“Write-Down and Conversion Powers”: 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.
1.2.    Other Definitional Provisions.
(a)    Unless otherwise specified therein, all terms defined in this Agreement shall have the defined meanings when used in any Notes or any certificate or other document made or delivered pursuant hereto.
(b)    As used herein and in any Notes, and any certificate or other document made or delivered pursuant hereto, accounting terms relating to the Borrower and its Subsidiaries not defined in subsection 1.1 and accounting terms partly defined in subsection 1.1, to the extent not defined, shall have the respective meanings given to them under GAAP.
(c)    The words “hereof,” “herein” and “hereunder” and words of similar import when used in this Agreement shall refer to this Agreement as a whole and not to any particular provision of this Agreement, and Section, subsection, Schedule and Exhibit references are to this Agreement unless otherwise specified.
(d)    The meanings given to terms defined herein shall be equally applicable to both the singular and plural forms of such terms.

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(e)    Computations of amounts and ratios referred to herein shall be made without giving effect to any change in accounting for leases pursuant to GAAP resulting from the implementation of Accounting Standards Update 2016-02, Leases (Topic 842) issued February 2016, as amended from time to time.
     SECTION 2     
 
AMOUNT AND TERMS OF COMMITMENTS
2.1.    Term Loans.  Subject to the terms and conditions hereof, each Lender severally agrees to make a term loan in Dollars (a “Term Loan”) to the Borrower on the Closing Date in an amount not to exceed the amount of the Term Loan Commitment of such Lender.  The Term Loans may from time to time be (i) Eurodollar Loans or (ii) ABR Loans or (iii) a combination thereof, as determined by the Borrower and notified to the Administrative Agent in accordance with subsections 2.2 and 3.2.  The Term Loan Commitments shall expire at 5:00 P.M., New York City time, on the Closing Date.  Amounts borrowed under this subsection 2.1 and repaid or prepaid may not be reborrowed.
2.2.    Procedure for Term Loan Borrowing.  The Borrower may borrow under the Term Loan Commitments on the Closing Date, provided that the Borrower shall give the Administrative Agent irrevocable notice (which notice must be received by the Administrative Agent prior to 10:00 A.M., New York City time on the Closing Date specifying (i) the amount to be borrowed, (ii) the requested Borrowing Date (which, for the avoidance of doubt, will be the Closing Date), (iii) whether the borrowing is to be of Eurodollar Loans, ABR Loans or a combination thereof and (iv) if the borrowing is to be entirely or partly of Eurodollar Loans, the amount of such Type of Loan and the length of the initial Interest Period therefor.  The borrowing under the Term Loan Commitments shall be in an amount equal to (x) in the case of ABR Loans, $5,000,000 or a whole multiple of $1,000,000 in excess thereof and (y) in the case of Eurodollar Loans, $5,000,000 or a whole multiple of $1,000,000 in excess thereof.  Upon receipt of any such notice from the Borrower, the Administrative Agent shall promptly notify each Lender thereof.  Prior to 11:00 A.M., New York City time, on the Borrowing Date requested by the Borrower, each Lender will make an amount equal to its Term Loan Commitment Percentage of the principal amount of the Term Loans requested to be made on such Borrowing Date available to the Administrative Agent for the account of the Borrower at the office of the Administrative Agent specified in writing by the Administrative Agent to the Lenders in funds immediately available to the Administrative Agent.  Such borrowing will then be made available to the Borrower by the Administrative Agent crediting the account of the Borrower with the aggregate of the amounts made available to the Administrative Agent by the Lenders and in like funds as received by the Administrative Agent.
2.3.    Fees.  The Borrower agrees to pay to (i) the Administrative Agent the agency fees, (ii) the Syndication Agents (or their affiliates or designees) the upfront or similar fees and (iii) the Arranger (or its affiliates or designees) the upfront or similar fee, in each case in the amounts and on the dates separately agreed to in writing by the Borrower and the Administrative Agent, the Syndication Agents and the Arranger, respectively. 

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2.4.    Repayment of Loans. The Borrower hereby unconditionally promises to pay to the Administrative Agent for the account of each Lender the then unpaid principal amount of each Term Loan of such Lender on the Termination Date (or such earlier date on which the Term Loans become due and payable pursuant to Section 10).  The Borrower hereby further agrees to pay interest on the unpaid principal amount of the Term Loans from time to time outstanding from the date hereof until payment in full thereof at the rates per annum, and on the dates, set forth in subsection 3.4.
2.5.    Increase of Term Loan Commitments.  The Borrower shall have the right to increase the Term Loan Commitments or establish a new term loan credit facility under this Agreement from time to time in an aggregate principal amount not to exceed $500,000,000 upon prior notice to the Administrative Agent and pursuant to procedures established by the Administrative Agent and acceptable to the Borrower.  Each such increase or new term loan credit facility (each, an “Additional Term Loan Commitment”) shall be in a principal amount of at least $25,000,000, and no such increase shall become effective (i) if a Default or Event of Default then exists or would exist immediately after giving effect thereto and (ii) unless all representations and warranties made by the Borrower required to be made pursuant to Section 6 (other than subsections 6.13 and 6.14) in this Agreement and the other Loan Documents are true in all material respects as of the date of such increase.  Each bank or other financial institution (other than an existing Lender or Lender Affiliate providing any Additional Term Loan Commitments) shall be reasonably acceptable to the Administrative Agent and the Borrower and shall be a “Lender” for all purposes under this Agreement.  No Lender shall have any obligation to provide any such Additional Term Loan Commitments unless and until it shall expressly agree under the applicable procedures to do so, at which time such Lender shall be deemed to have made an Additional Term Loan Commitment.  The Lenders agree that this Agreement and the other Loan Documents may be amended from time to time with the consent of the Administrative Agent and the Borrower to reflect such Additional Term Loan Commitments in connection with this subsection 2.5.
2.6.    Defaulting Lenders.
(a)    Notwithstanding anything to the contrary contained in this Agreement, if any Lender becomes a Defaulting Lender, then, until such time as that Lender is no longer a Defaulting Lender, to the extent permitted by applicable law:
(i)    That 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 subsection 13.1.
(ii)    Any payment of principal, interest, fees or other amounts received by the Administrative Agent for the account of that Defaulting Lender (whether voluntary or mandatory, at maturity, pursuant to Section 10 or otherwise, and including any amounts made available to the Administrative Agent by that Defaulting Lender pursuant to subsection 13.7), 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 that Defaulting Lender to the Administrative Agent hereunder; second, as the Borrower may request (so long as no Event of Default exists), to the funding of any Loan in respect of 

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which that Defaulting Lender has failed to fund its portion thereof as required by this Agreement, as determined by the Administrative Agent; third, if so determined by the Administrative Agent and the Borrower, to be held in an interest bearing deposit account and released in order to satisfy obligations of that Defaulting Lender to fund Loans under this Agreement; fourth, to the payment of any amounts owing to the Lenders as a result of any judgment of a court of competent jurisdiction obtained by any Lender against that Defaulting Lender as a result of that Defaulting Lender’s breach of its obligations under this Agreement; fifth, so long as no 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 that Defaulting Lender as a result of that Defaulting Lender’s breach of its obligations under this Agreement; and sixth, to that Defaulting Lender or as otherwise directed by a court of competent jurisdiction; provided that if such payment is a payment of the principal amount of any Loans in respect of which that Defaulting Lender has not fully funded its appropriate share, such payment shall be applied solely to pay the Loans of all non-Defaulting Lenders on a pro rata basis prior to being applied to the payment of any Loans of that Defaulting Lender.  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 shall be deemed paid to and redirected by that Defaulting Lender, and each Lender irrevocably consents to the foregoing.  
(b)    If the Borrower and the Administrative Agent agree in writing that a Defaulting Lender should no longer be deemed to be a Defaulting Lender, the Administrative Agent will so notify the parties hereto, whereupon that 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)    If any Lender is a Defaulting Lender, then the Borrower may, at its sole expense and effort, upon notice to such Defaulting Lender and the Administrative Agent, require such Defaulting Lender to assign and delegate, without recourse (in accordance with and subject to the restrictions contained in, and consents required by, subsection 13.6), all of its interests, rights and obligations under this Agreement and the related Loan Documents to an assignee that shall assume such obligations (which assignee may be another Lender, if a Lender accepts such assignment), provided that:
(i)    the Borrower shall have paid to the Administrative Agent the assignment fee specified in subsection 13.6;
(ii)    such Defaulting Lender shall have received payment of an amount equal to 100% of the outstanding principal of its Loans, accrued interest thereon, accrued fees and all other amounts payable to it hereunder and under the other Loan Documents (including any amounts under subsection 3.11) 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); 

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(iii)    such assignment does not conflict with applicable laws; and
(iv)    such Defaulting Lender shall not be required to sign and deliver any assignment form in order for such assignment to become effective.
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.
2.7.    Extension of Termination Date.  
(a)    The Borrower may, by sending an Extension Request to the Administrative Agent (in which case the Administrative Agent shall promptly deliver a copy to each of the Lenders), at least three months in advance of the Termination Date in effect at such time, request that the Lenders extend such Termination Date then in effect to the first anniversary of the Termination Date then in effect.  Each Lender, acting in its sole discretion, shall, by notice to the Administrative Agent given not later than the date that is the 20th day after the date of the Extension Request, or if such day is not a Business Day, the immediately following Business Day (the “Response Date”) advise the Administrative Agent in writing whether or not such Lender agrees to such extension (each Lender that so advises the Administrative Agent that it will not extend the Termination Date, being referred to herein as a “Non-extending Lender”); provided that any Lender that does not advise the Administrative Agent by the Response Date and any Defaulting Lender shall be deemed to be a Non-extending Lender.  The election of any Lender to agree to such extension shall not obligate any other Lender to agree. 
(b)    (i)  If, on the Response Date, Lenders holding Term Loans that aggregate to 50% or more of the total Term Loans shall not have agreed to extend the Termination Date, then such Termination Date shall not be so extended and the outstanding principal balance of all Loans and other amounts payable hereunder shall be payable on such Termination Date.  
(ii)    If (and only if), on the Response Date, Lenders holding Term Loans that aggregate to more than 50% of the total Term Loans shall have agreed to extend the Termination Date, then the Termination Date shall be the first anniversary of the current Termination Date (subject to satisfaction of the conditions set forth in subsection 2.7(d)).  In the event of such extension, all Loans and other amounts payable hereunder to such Non-extending Lenders shall become due and payable on the Termination Date in effect prior to such extension.
(c)    In the event that the conditions of clause (ii) of paragraph (b) above have been satisfied, the Borrower shall have the right on or before the Termination Date in effect prior to the requested extension, at its own expense, to require any Non-extending Lender to transfer and assign without recourse (in accordance with and subject to the restrictions contained in subsection 13.6) all its interests, rights and obligations under this Agreement to one or more banks or other financial institutions identified to the Non-extending Lender, which may include any Lender (each an “Additional Lender”), provided that (w) such Additional Lender, if not already a Lender hereunder, shall be subject to the approval of the Administrative Agent and the Borrower (such approvals not to be unreasonably withheld), (x) such assignment shall become 

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effective as of a date specified by the Borrower (which shall not be later than the Termination Date in effect prior to the requested extension); (y) the Additional Lender shall pay to such Non-extending Lender in immediately available funds on the effective date of such assignment the principal of and interest accrued to the date of payment on the Loans made by it hereunder and all other amounts accrued for its account or owed to it hereunder and (z) such Non-extending Lender shall not be required to sign and deliver any assignment form in order for such assignment to become effective.
As a condition precedent to each such extension, the Borrower shall deliver to the Administrative Agent a certificate of the Borrower dated as of the Termination Date then in effect signed by a Responsible Officer of the Borrower certifying that, before and after giving effect to such extension, (A) the representations and warranties contained in Section 6 (including subsections 6.13 and 6.14) and the other Loan Documents are true and correct on and as of the Termination Date, and except that for purposes of this subsection 2.7, the representations and warranties contained in subsection 6.1 shall be deemed to refer to the most recent statements furnished pursuant to paragraphs (a) and (b), respectively, of subsection 8.1, and (B) no Default or Event of Default exists.
2.8.    Termination of Term Loan Commitments.  The Term Loan Commitments shall be terminated on the Closing Date upon the funding of the Loans.
     SECTION 3     
 
CERTAIN PROVISIONS APPLICABLE TO THE LOANS
3.1.    Optional Prepayments.  
(a)    The Borrower may at any time and from time to time prepay the Loans, in whole or in part, without premium or penalty (other than any amounts payable pursuant to subsection 3.11 if such prepayment is of Eurodollar Loans and is made on a day other than the last day of the Interest Period with respect thereto), upon at least three Business Days’ irrevocable notice to the Administrative Agent, specifying the date and amount of prepayment and whether the prepayment is of Eurodollar Loans, ABR Loans or a combination thereof, and, if of a combination thereof, the amount allocable to each; provided further that such notice delivered by the Borrower may state that such notice is conditioned upon the effectiveness of other credit facilities, in which case such notice may be revoked by the Borrower (by notice to the Administrative Agent on or prior to the specified effective date) if such condition is not satisfied.  Upon receipt of any such notice the Administrative Agent shall promptly notify each Lender thereof.  If any such notice is given, the amount specified in such notice shall be due and payable on the date specified therein.  Partial prepayments of Loans shall be in an aggregate principal amount of at least $1,000,000 or an integral multiple of $100,000 in excess thereof.
(b)    Each prepayment of Loans pursuant to this subsection 3.1 shall be accompanied by the payment of unpaid accrued interest on the principal amount so prepaid and any amounts payable under subsection 3.11 in connection with such prepayment.
3.2.    Conversion and Continuation Options.

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(a)    The Borrower may elect from time to time to convert Eurodollar Loans to ABR Loans by giving the Administrative Agent at least two Business Days’ prior irrevocable notice of such election.  The Borrower may elect from time to time to convert ABR Loans to Eurodollar Loans by giving the Administrative Agent at least three Business Days’ prior irrevocable notice of such election.  Any such notice of conversion to Eurodollar Loans shall specify the length of the initial Interest Period therefor.  Upon receipt of any such notice the Administrative Agent shall promptly notify each Lender thereof.  All or any part of outstanding Eurodollar Loans and ABR Loans may be converted as provided herein, provided that (i) no Loan may be converted into a Eurodollar Loan when any Event of Default has occurred and is continuing and the Administrative Agent has or the Majority Lenders have determined that such a conversion is not appropriate and (ii) no Loan may be converted into a Eurodollar Loan after the date that is one month prior to the Termination Date.
(b)    Any Eurodollar Loans may be continued as such upon the expiration of the then current Interest Period with respect thereto by the Borrower giving notice to the Administrative Agent, in accordance with the applicable provisions of the term “Interest Period” set forth in subsection 1.1, of the length of the next Interest Period to be applicable to such Loans, provided that no Eurodollar Loan may be continued as such (i) when any Event of Default has occurred and is continuing and the Administrative Agent has or the Majority Lenders have determined that such a continuation is not appropriate or (ii) after the date that is one month prior to the Termination Date, and provided, further, that if the Borrower shall fail to give such notice or if such continuation is not permitted, such Loans shall be automatically converted to ABR Loans on the last day of such then expiring Interest Period.
3.3.    Minimum Amounts and Maximum Number of Tranches.  All borrowings, conversions and continuations of Term Loans hereunder and all selections of Interest Periods hereunder shall be in such amounts and be made pursuant to such elections so that, after giving effect thereto, the aggregate principal amount of the Eurodollar Loans comprising each Eurodollar Tranche shall be equal to $5,000,000 or a whole multiple of $1,000,000 in excess thereof.  In no event shall there be more than seven Tranches outstanding at any time.
3.4.    Interest Rates and Payment Dates.
(a)    Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurocurrency Rate determined for such Interest Period plus the Applicable Margin in effect for such day.
(b)    Each ABR Loan shall bear interest at a rate per annum equal to the ABR plus the Applicable Margin.
(c)    If all or a portion of (i) any principal of any Loan, (ii) any interest payable thereon or (iii) any other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), the principal of the Loans and/or any such overdue interest or other amount shall bear interest at a rate per annum which is (x) in the case of principal, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this subsection 3.4 plus 2% or (y) in the case of any such overdue interest or other amount, the rate described in paragraph (b) of this subsection 3.4 plus 2%, in each case from the date of such 

- 23 -    

non-payment until such overdue principal, interest or other amount is paid in full (as well after as before judgment).
(d)    Interest pursuant to this subsection 3.4 shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph (c) of this subsection 3.4 shall be payable from time to time on demand.
3.5.    Computation of Interest and Fees.
(a)    All interest and fees hereunder shall be computed on the basis of a year of 360 days, except that interest computed by reference to the ABR when it is based on the Prime Rate shall be computed on the basis of a year of 365 days (or 366 days in a leap year) and shall be payable for the actual number of days elapsed (including the first day but excluding the last day).  The applicable ABR or Eurocurrency Rate shall be determined by the Administrative Agent, and such determination shall be conclusive absent manifest error.  The Administrative Agent shall as soon as practicable notify the Borrower and the Lenders of each determination of a Eurocurrency Rate.  Any change in the interest rate on a Loan resulting from a change in the ABR or the Eurocurrency Reserve Requirements shall become effective as of the opening of business on the day on which such change becomes effective.  The Administrative Agent shall as soon as practicable notify the Borrower and the relevant Lenders of the effective date and the amount of each such change in interest rate.
(b)    Each determination of an interest rate by the Administrative Agent pursuant to any provision of this Agreement shall be conclusive and binding on the Borrower and the Lenders in the absence of manifest error.  The Administrative Agent shall, at the request of either of the Borrower, deliver to the Borrower a statement showing the quotations used by the Administrative Agent in determining any interest rate pursuant to subsections 3.4(a) or (b).
3.6.    Inability to Determine Interest Rate.  
(a)    If prior to the first day of any Interest Period:
(i)    the Administrative Agent shall have determined (which determination shall be conclusive and binding upon the Borrower) that, by reason of circumstances affecting the relevant market, adequate and reasonable means do not exist for ascertaining the Eurocurrency Rate for such Interest Period, or
(ii)    the Administrative Agent shall have received notice from the Majority Lenders that the Eurocurrency Rate determined or to be determined for such Interest Period will not adequately and fairly reflect the cost to such Lenders (as conclusively certified by such Lenders) of making or maintaining their affected Loans during such Interest Period,
the Administrative Agent shall give telecopy or telephonic notice thereof to the Borrower and the Lenders as soon as practicable thereafter.  If such notice is given (w) any Eurodollar Loans requested to be made on the first day of such Interest Period shall be made as ABR Loans, provided, that, notwithstanding the provisions of subsection 2.2, the Borrower may cancel the request for such Eurodollar Loan by written notice to the Administrative Agent one Business Day 

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prior to the first day of such Interest Period and the Borrower shall not be subject to any liability pursuant to subsection 3.11 with respect to such cancelled request, (x) any Loans that were to have been converted on the first day of such Interest Period to Eurodollar Loans shall be continued as ABR Loans and (y) any outstanding Eurodollar Loans shall be converted, on the first day of such Interest Period, to ABR Loans.  Until such notice has been withdrawn by the Administrative Agent, no further Eurodollar Loans shall be made or continued as such, nor shall the Borrower have the right to convert ABR Loans to Eurodollar Loans,
(b)    If at any time the Administrative Agent determines (which determination shall be conclusive absent manifest error) that (i) the circumstances set forth in clause (a)(i) above have arisen and such circumstances are unlikely to be temporary or (ii) the circumstances set forth in clause (a)(i) have not arisen but the supervisor for the administrator of the Applicable Screen Rate or a Governmental Authority having jurisdiction over the Administrative Agent has made a public statement identifying a specific date after which the Applicable Screen Rate shall no longer be used for determining interest rates for loans, then the Administrative Agent and the Borrower shall endeavor to establish an alternate rate of interest to the Eurocurrency Base Rate that gives due consideration to the then prevailing market convention for determining a rate of interest for syndicated loans in the United States at such time, and shall enter into an amendment to this Agreement to reflect such alternate rate of interest and such other related changes to this Agreement as may be applicable (but for the avoidance of doubt, such related changes shall not include a reduction of the Applicable Margin); provided that, if such alternate rate of interest as so determined would be less than zero, such rate shall be deemed to be zero for the purposes of this Agreement.  Notwithstanding anything to the contrary in subsection 13.1, such amendment shall become effective without any further action or consent of any other party to this Agreement so long as the Administrative Agent shall not have received, within five Business Days of the date notice of such alternate rate of interest is provided to the Lenders, a written notice from the Majority Lenders stating that such Majority Lenders object to such amendment.  Until an alternate rate of interest shall be determined in accordance with this clause (b) (but, in the case of the circumstances described in clause (ii) of the first sentence of this subsection 3.6(b), only to the extent the Applicable Screen Rate for such Interest Period is not available or published at such time on a current basis), (x) any notice pursuant to subsection 3.2 that requests the conversion of any Term Loan to, or continuation of any Term Loan as, a Eurodollar Loan shall be ineffective and (y) if any notice pursuant to subsection 2.2 or 3.2 requests a Eurodollar Loan, such Term Loan shall be made as an ABR Loan.
3.7.    Pro Rata Treatment and Payments.
(a)      Each payment (including each prepayment) by the Borrower on account of principal of and interest on the Term Loans shall be made pro rata according to the respective outstanding principal amounts of the Term Loans then held by the Lenders.  Amounts prepaid on account of the Term Loans may not be reborrowed.  
(b)    The borrowing by the Borrower of Term Loans on the Closing Date from the Lenders hereunder shall be made pro rata according to the Term Loan Commitment Percentages of the Lenders in effect on the Closing Date.  All payments (including prepayments) to be made by the Borrower hereunder, whether on account of principal, interest, fees or otherwise, shall be made without set off or counterclaim and shall be made prior to 12:00 Noon, New York City 

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time, on the due date thereof to the Administrative Agent, for the account of the relevant Lenders, at the Administrative Agent’s office specified in subsection 13.2, in Dollars and in immediately available funds.   The Administrative Agent shall distribute such payments to the relevant Lenders promptly upon receipt in like funds as received.  If any payment hereunder (other than payments on the Eurodollar Loans) becomes due and payable on a day other than a Business Day, such payment shall be extended to the next succeeding Business Day, and, with respect to payments of principal, interest thereon shall be payable at the then applicable rate during such extension.  If any payment on a Eurodollar Loan becomes due and payable on a day other than a Business Day, the maturity of such payment shall be extended to the next succeeding Business Day (and, with respect to payments of principal, interest thereon shall be payable at the then applicable rate during such extension) unless the result of such extension would be to extend such payment into another calendar month, in which event such payment shall be made on the immediately preceding Business Day.
(c)    Notwithstanding the foregoing, payments may be made on a non pro rata basis under this Agreement in order to give effect to subsections 2.6 and 2.7.
(d)    Unless the Administrative Agent shall have been notified in writing by any Lender prior to a borrowing that such Lender will not make the amount that would constitute its share of such borrowing available to the Administrative Agent, the Administrative Agent may assume that such Lender is making such amount available to the Administrative Agent, and the Administrative Agent may, in reliance upon such assumption, make available to the Borrower a corresponding amount.  If such amount is not made available to the Administrative Agent by the required time on the Borrowing Date therefor, such Lender shall pay to the Administrative Agent, on demand, such amount with interest thereon at a rate equal to the daily average NYFRB Rate for the period until such Lender makes such amount immediately available to the Administrative Agent.  A certificate of the Administrative Agent submitted to any Lender with respect to any amounts owing under this subsection 3.7 shall be conclusive in the absence of manifest error.  If such Lender’s share of such borrowing is not made available to the Administrative Agent by such Lender within three Business Days of such Borrowing Date, the Administrative Agent shall also be entitled to recover such amount with interest thereon equal to the rate per annum applicable to ABR Loans hereunder, on demand, from the Borrower.
3.8.    Illegality.  Notwithstanding any other provision herein, if after the date hereof the adoption of or any change in any Requirement of Law or in the interpretation or application thereof shall make it unlawful for any Lender to make or maintain Eurodollar Loans as contemplated by this Agreement, (a) the commitment of such Lender hereunder to make Eurodollar Loans, continue Eurodollar Loans as such and convert ABR Loans to Eurodollar Loans shall forthwith be cancelled and (b) such Lender’s Loans then outstanding as Eurodollar Loans, if any, shall be converted automatically to ABR Loans on the respective last days of the then current Interest Periods with respect to such Loans or within such earlier period as required by law.  If any such conversion of a Eurodollar Loan occurs on a day which is not the last day of the then current Interest Period with respect thereto, the Borrower shall pay to such Lender such amounts, if any, as may be required pursuant to subsection 3.11.
3.9.    Requirements of Law.

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(a)    If, due to either (i) the introduction of or any change in any law or regulation or in the interpretation or administration of any law or regulation by any Governmental Authority charged with the interpretation or administration thereof or (ii) the compliance with any guideline or request from any central bank or other Governmental Authority that would be complied with generally by similarly situated banks or lenders acting reasonably (whether or not having the force of law and for the avoidance of doubt, including any changes resulting from requests, rules, guidelines or directives concerning capital adequacy issued after the date hereof in connection with the Dodd-Frank Wall Street Reform and Consumer Protection Act or promulgated after the date hereof by the Bank for International Settlements, the Basel Committee on Banking Supervision (or any successor or similar authority) or the United States or foreign regulatory authorities, in each case pursuant to Basel III), there shall be any increase in the cost to any Lender of agreeing to make or making, funding or maintaining Eurodollar Loans (except any reserve or other requirement contemplated by subsection 3.9(b) or (c) other than as set forth below) by an amount deemed by such Lender to be material (except, for the avoidance of doubt, for Non-Excluded Taxes indemnified under subsection 3.10 and Excluded Taxes), then the Borrower shall from time to time, upon demand by such Lender (with a copy of such demand to the Administrative Agent), pay to the Administrative Agent for the account of such Lender additional amounts sufficient to compensate such Lender for such increased cost.  A certificate as to the amount of such increased cost, submitted to the Borrower and the Administrative Agent by such Lender, shall be conclusive and binding for all purposes, absent manifest error.
(b)    If, due to either (i) the introduction of or any change in or interpretation of any law or regulation or (ii) compliance with any guideline or request from any central bank or other governmental or regulatory authority which becomes effective after the date hereof (for the avoidance of doubt, including any changes resulting from requests, rules, guidelines or directives concerning capital adequacy issued after the date hereof in connection with the Dodd-Frank Wall Street Reform and Consumer Protection Act or promulgated after the date hereof by the Bank for International Settlements, the Basel Committee on Banking Supervision (or any successor or similar authority) or the United States or foreign regulatory authorities, in each case pursuant to Basel III), there shall be any increase in the amount of capital required or expected to be maintained by any Lender or any corporation controlling such Lender and the amount of such capital is increased by or based upon the existence of such Lender’s Loans or commitment to extend credit and other commitments of this type by an amount deemed by such Lender to be material, then, upon demand by such Lender (with a copy of such demand to the Administrative Agent), the Borrower shall pay to the Administrative Agent for the account of such Lender, from time to time as specified by such Lender, additional amounts sufficient to compensate such Lender or such corporation in the light of such circumstances, to the extent that such Lender reasonably determines such increase in capital to be allocable to the existence of such Lender’s Loans or commitment to extend credit hereunder.  A certificate as to such amounts submitted to the Borrower and the Administrative Agent by such Lender shall be conclusive and binding for all purposes as to the calculations therein, absent manifest error.  Such certificate shall be in reasonable detail and shall certify that the claim for additional amounts referred to therein is generally consistent with such Lender’s treatment of similarly situated customers of such Lender whose transactions with such Lender are similarly affected by the change in circumstances giving rise to such payment, but such Lender shall not be required to disclose any confidential or proprietary information therein.

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(c)    For purposes of the foregoing paragraphs (a) and (b), the amendments to 12 C.F.R. Part 327 set forth in the final rule attached to the Federal Deposit Insurance Corporation Financial Institution Letter FIL-8-2011, dated February 9, 2011, shall be deemed to have been introduced and adopted after the date of this Agreement.
3.10.    Taxes.
(a)    All payments made by the Borrower under any Loan Document shall be made free and clear of, and without deduction or withholding for or on account of, any Taxes excluding (i) all net income Taxes, franchise Taxes or other Taxes, including branch profits Taxes, in each case imposed on the Administrative Agent or any Lender as a result of a present or former connection between the Administrative Agent or such Lender and the jurisdiction of the Governmental Authority imposing such Tax or any political subdivision or taxing authority thereof or therein (other than any such connection arising solely from the Administrative Agent or such Lender having executed, delivered or performed its obligations or received a payment under, or enforced, any Loan Document), (ii) in the case of a Lender other than an assignee pursuant to a request by a Borrower under subsection 3.12, any U.S. federal withholding Tax that is imposed under a law in effect at the time such Lender becomes a party hereto (or designates a new lending office), except to the extent that such Lender (or its assignor, if any) was entitled, immediately prior to the time of designation of a new lending office (or assignment), to receive additional amounts from the Borrower with respect to such withholding Tax pursuant to this Section, (iii) any withholding Tax imposed as a result of a Lender failing to comply with subsection 3.10(c) and (iv) any U.S. federal Taxes that are imposed by reason of FATCA (Taxes in clauses (i) to (iv) being “Excluded Taxes”).  If any Taxes are required to be withheld from any amounts payable to the Administrative Agent or any Lender hereunder or under any Loan Document as determined in good faith by the applicable withholding agent, (x) such amounts shall be paid to the relevant Governmental Authority in accordance with applicable law and (y) if such Taxes are non-excluded Taxes (“Non-Excluded Taxes”) the amounts so payable by the Borrower to the Administrative Agent or such Lender shall be increased to the extent necessary to yield to the Administrative Agent or such Lender (after payment of all Non-Excluded Taxes) interest or any such other amounts payable hereunder at the rates or in the amounts specified in such Loan Document as if such withholding or deduction had not been made.  Whenever any Taxes are payable by the Borrower pursuant to this Section, as promptly as possible thereafter the Borrower shall send to the Administrative Agent for its own account or for the account of such Lender, as the case may be, a certified copy of an original official receipt received by the Borrower showing payment thereof or other evidence of such payment satisfactory to the Administrative Agent (in its reasonable discretion).  If the Borrower fails to pay any Non-Excluded Taxes when due to the appropriate taxing authority or fails to remit to the Administrative Agent the required receipts or other required documentary evidence, the Borrower shall indemnify the Administrative Agent and the Lenders for any incremental Taxes that may become payable by the Administrative Agent or any Lender as a result of any such failure.  The agreements in this subsection 3.10 shall survive the termination of this Agreement and each other Loan Document and the payment of the Loans and all other amounts payable hereunder and thereunder.
(b)    The Borrower shall indemnify and hold harmless the Administrative Agent and each Lender within 20 days after demand therefor, for the full amount of any Non-Excluded 

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Taxes (including Non-Excluded Taxes imposed or asserted on or attributable to amounts payable under this subsection 3.10) payable by the Administrative Agent or such Lender and any penalties, interest and reasonable expenses arising therefrom or with respect thereto; provided that the Borrower shall not be obligated to indemnify the Administrative Agent or any such Lender pursuant to this subsection 3.10(b) in respect of penalties, interest or reasonable expenses if such penalties, interest or reasonable expenses are attributable to the gross negligence or willful misconduct of the person seeking indemnification.
(c)    Any Lender that is entitled to an exemption from or reduction of withholding Tax with respect to payments made under any Loan Document shall deliver to the Borrower and the Administrative Agent, at the time or times reasonably requested by the Borrower or the Administrative Agent, such properly completed and executed documentation reasonably requested by the Borrower or the Administrative Agent as will permit such payments to be made without withholding or at a reduced rate of withholding.  In addition, any Lender, if reasonably requested by the Borrower or the Administrative Agent, shall deliver such other documentation prescribed by applicable law or reasonably requested by the Borrower or the Administrative Agent as will enable the Borrower or the Administrative Agent to determine whether or not such Lender is subject to backup withholding or information reporting requirements.  Notwithstanding anything to the contrary in the preceding two sentences, the completion, execution and submission of such documentation (other than such documentation set forth in subsections 3.10(c)(A), (B) and (D) below) shall not be required if in the Lender's reasonable judgment such completion, execution or submission would subject such Lender to any material unreimbursed cost or expense or would materially prejudice the legal or commercial position of such Lender.  
Without limiting the generality of the foregoing, in the event the Borrower is a U.S. Person,
(A) any Lender that is a U.S. Person shall deliver to the Borrower and the Administrative Agent on or prior to the date on which such Lender becomes a Lender under this Agreement (and from time to time thereafter upon the reasonable request of the Borrower or the Administrative Agent), executed originals of IRS Form W-9 certifying that such Lender is exempt from U.S. Federal backup withholding tax;
(B) any Non-U.S. Lender shall, to the extent it is legally entitled to do so, deliver to the Borrower and the Administrative Agent (in such number of copies as shall be requested by the recipient) on or prior to the date on which such Non-U.S. Lender becomes a Lender under this Agreement (and from time to time thereafter upon the reasonable request of the Borrower or the Administrative Agent), whichever of the following is applicable:
		
	(i)
	in the case of a Non-U.S. Lender claiming the benefits of an income tax treaty to which the United States is a party (x) with respect to payments of interest under any Loan Document, executed originals of IRS Form W-8BEN or W-8BEN-E, as applicable, establishing an exemption from, or reduction of, U.S. Federal withholding Tax pursuant to the “interest” article of such tax treaty and (y) with respect to any other applicable payments 

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under any Loan Document, IRS Form W-8BEN or W-8BEN-E, as applicable, establishing an exemption from, or reduction of, U.S. Federal withholding Tax pursuant to the “business profits” or “other income” article of such tax treaty;
		
	(ii)
	executed originals of IRS Form W-8ECI;

		
	(iii)
	in the case of a Non-U.S. Lender claiming the benefits of the exemption for portfolio interest under Section 871(h) or Section 881(c) of the Code, (x) a certificate substantially in the form of Exhibit E-1 to the effect that such Non-U.S. Lender is not a “bank” within the meaning of Section 881(c)(3)(A) of the Code, a “10 percent shareholder” of the Borrower within the meaning of Section 881(c)(3)(B) of the Code, or a “controlled foreign corporation” described in Section 881(c)(3)(C) of the Code (a “U.S. Tax Compliance Certificate”) and (y) executed originals of IRS Form W-8BEN or W-8BEN-E, as applicable; or

		
	(iv)
	to the extent a Non-U.S. Lender is not the beneficial owner, executed originals of IRS Form W-8IMY, accompanied by IRS Form W-8ECI, IRS Form W-8BEN or W-8BEN-E, as applicable, a U.S. Tax Compliance Certificate substantially in the form of Exhibit E-2 or Exhibit E-3, IRS Form W-9, and/or other certification documents from each beneficial owner, as applicable; provided that if the Non-U.S. Lender is a partnership and one or more direct or indirect partners of such Non-U.S. Lender are claiming the portfolio interest exemption, such Non-U.S. Lender may provide a U.S. Tax Compliance Certificate substantially in the form of Exhibit E-4 on behalf of each such direct and indirect partner; 

(C) any Non-U.S. Lender shall, to the extent it is legally entitled to do so, deliver to the Borrower and the Administrative Agent (in such number of copies as shall be requested by the recipient) on or prior to the date on which such Non-U.S. Lender becomes a Lender under this Agreement (and from time to time thereafter upon the reasonable request of the Borrower or the Administrative Agent), executed originals of any other form prescribed by applicable law as a basis for claiming exemption from or a reduction in U.S. Federal withholding Tax, duly completed, together with such supplementary documentation as may be prescribed by applicable law to permit the Borrower or the Administrative Agent to determine the withholding or deduction required to be made; and
(D) If a payment made to a Lender under any Loan Document 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 Administrative Agent, at the time or times prescribed by law and at such 

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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 Administrative Agent to comply with their obligations under FATCA, 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” shall include any amendments made to FATCA after the date of this Agreement.
Notwithstanding any other provision of this Section, a Lender shall not be required to deliver any form pursuant to this Section that such Lender is not legally able to deliver. 
(d)    If the Borrower pays any additional amounts or makes an indemnity payment under this subsection 3.10 to any Lender or the Administrative Agent, and such Lender or the Administrative Agent determines in its sole discretion exercised in good faith that it has actually received in connection therewith any refund of the underlying Non-Excluded Taxes, such Lender or the Administrative Agent shall pay to the Borrower an amount equal to such refund which was obtained by such Lender or Administrative Agent (but only to the extent of indemnity payments made, or additional amounts paid by the Borrower under this subsection 3.10 with respect to the Non-Excluded Taxes giving rise to such refund) net of all reasonable out-of-pocket expenses of the Lender or the Administrative Agent with respect to such refund, and without interest (other than any interest paid by the relevant taxation authority); provided, however, that the Borrower, upon the request of the Lender or the Administrative Agent, agrees to repay the amount paid over to the Borrower to any Lender or the Administrative Agent in the event any Lender or the Administrative Agent is required to repay such refund, plus interest and penalties (excluding interest and penalties attributable to the negligence or willful misconduct of such Lender or the Administrative Agent).  This paragraph shall not be construed to require any Lender or the Administrative Agent to disclose any confidential information to the Borrower or any other Person (including its Tax returns).
(e)    Each Lender shall indemnify the Administrative Agent for the full amount of any Taxes imposed by any Governmental Authority that are attributable to such Lender and that are payable or paid by the Administrative Agent, together with all interest, penalties, reasonable costs and expenses arising therefrom or with respect thereto (but only to the extent not already paid by the Borrower), as determined by the Administrative Agent in good faith. A certificate as to the amount of such payment or liability delivered to any Lender by the Administrative Agent shall be conclusive absent manifest error.  Each Lender hereby authorizes the Administrative Agent to set off and apply any and all amounts at any time owing to such Lender under any Loan Document or otherwise payable by the Administrative Agent to the Lender from any other source against any amount due to the Administrative Agent under this subsection 3.10(e).
3.11.    Indemnity.  The Borrower agrees to indemnify each Lender and to hold each such Lender harmless from any loss or expense which such Lender may sustain or incur as a consequence of (a) default by the Borrower in making a borrowing of, conversion into or continuation of Eurodollar Loans after the Borrower has given a notice requesting the same in accordance with the provisions of this Agreement, (b) default by the Borrower in making any 

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prepayment after the Borrower has given a notice thereof in accordance with the provisions of this Agreement or any other Loan Document or (c) the making of a prepayment of Eurodollar Loans or the conversion of Eurodollar Loans to ABR Loans on a day which is not the last day of an Interest Period with respect thereto.  Such indemnification may include an amount equal to the excess, if any, of (i) the amount of interest which would have accrued on the amount so prepaid, or not so borrowed, converted or continued, for the period from the date of such prepayment or of such failure to borrow, convert or continue to the last day of such Interest Period (or, in the case of a failure to borrow, convert or continue, the Interest Period that would have commenced on the date of such failure), in each case at the applicable rate of interest for such Loans provided for herein (excluding, however, the Applicable Margin) over (ii) the amount of interest (as reasonably determined by such Lender) which would have accrued to such Lender on such amount by placing such amount on deposit for a comparable period with leading banks in the interbank eurodollar market.  This covenant shall survive the termination of this Agreement and each other Loan Document and the payment of the Loans and all other amounts payable hereunder and thereunder.
3.12.    Change of Lending Office; Removal of Lender.  Each Lender agrees that if it makes any demand for payment under subsection 3.9 or 3.10(a), or if any adoption or change of the type described in subsection 3.8 shall occur with respect to it, (i) it will use reasonable efforts (consistent with its internal policy and legal and regulatory restrictions and so long as such efforts would not be disadvantageous to it, as determined in its sole discretion) to designate a different lending office if the making of such a designation would reduce or obviate the need for the Borrower to make payments under subsection 3.9 or 3.10(a), or would eliminate or reduce the effect of any adoption or change described in subsection 3.8 or (ii) it will, upon at least five Business Days’ notice from the Borrower to such Lender and the Administrative Agent, assign, pursuant to and in accordance with the provisions of subsection 13.6(c) and 13.17, to one or more Assignees designated by the Borrower all, but not less than all, of such Lender’s rights and obligations hereunder, without recourse to or warranty by, or expense to, such Lender, for a purchase price equal to the outstanding principal amount of each Loan then owing to such Lender plus any accrued but unpaid interest thereon and, in addition, all additional costs and reimbursements, expense reimbursements and indemnities, if any, owing in respect of such Lender’s Term Loan Commitment hereunder at such time (including any amount that would be payable under subsection 3.11 if such assignment were, instead, a prepayment in full of all amounts owing to such Lender) shall be paid to such Lender.
3.13.    Evidence of Debt.
(a)    Each Lender shall maintain in accordance with its usual practice an account or accounts evidencing indebtedness of the Borrower to such Lender resulting from each Loan of such Lender from time to time, including the amounts of principal and interest payable and paid to such Lender from time to time under this Agreement.
(b)    The Administrative Agent shall maintain the Register pursuant to subsection 13.6(d), and a subaccount therein for each Lender, in which shall be recorded (i) the amount of the Term Loan made hereunder, the Type thereof and each Interest Period applicable thereto, (ii) the amount of any principal or interest due and payable or to become due and payable from the 

- 32 -    

Borrower to each Lender hereunder and (iii) both the amount of any sum received by the Administrative Agent hereunder from the Borrower and each Lender’s share thereof.
(c)    The entries made in the Register and the accounts of each Lender maintained pursuant to subsection 3.13(a) shall, to the extent permitted by applicable law, be prima facie evidence of the existence and amounts of the obligations of the Borrower therein recorded; provided, however, that the failure of any Lender or the Administrative Agent to maintain the Register or any such account, or any error therein, shall not in any manner affect the obligation of the Borrower to repay (with applicable interest) the Loans made to the Borrower by such Lender in accordance with the terms of this Agreement.
(d)    The Borrower agrees that, upon the request to the Administrative Agent by any Lender, the Borrower will execute and deliver to such Lender a promissory note of the Borrower evidencing the Term Loans of such Lender, substantially in the form of Exhibit A with appropriate insertions as to date and principal amount (a “Term Note”).
       SECTION 4     
 
RESERVED
       SECTION 5     
 
RESERVED
       SECTION 6     
 
REPRESENTATIONS AND WARRANTIES
To induce the Administrative Agent and the Lenders to enter into this Agreement and to make the Loans, the Borrower hereby represents and warrants to the Administrative Agent and each Lender that:
6.1.    Financial Condition.  The consolidated balance sheet of the Borrower and its consolidated Subsidiaries as at each of December 31, 2017 and December 31, 2016 and the related consolidated statements of operations and of cash flows for the fiscal years ended on such dates, reported on by Ernst & Young LLP, copies of which have heretofore been furnished to each Lender, are complete and correct and present fairly the consolidated financial condition of the Borrower and its consolidated Subsidiaries as at such dates, and the consolidated results of their operations and their consolidated cash flows for the fiscal years then ended.  The unaudited consolidated balance sheet of the Borrower and its consolidated Subsidiaries as at the date of the Borrower’s most recent publicly available Form 10-Q and the related unaudited consolidated statements of operations and of cash flows for the fiscal period ended on such date, certified by a Responsible Officer, copies of which have heretofore been furnished to each Lender, are complete and materially correct and present fairly (subject to normal year-end audit adjustments) the consolidated financial condition of the Borrower and its consolidated Subsidiaries as at such date, and the consolidated results of their operations and their consolidated cash flows for the fiscal period then ended.  All such annual financial statements, including the related schedules and notes thereto, were, as of the date prepared, prepared in accordance with GAAP applied 

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consistently throughout the periods involved (except as approved by such accountants or Responsible Officer, as the case may be, and as disclosed therein).  The quarterly financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X under the Securities Act of 1933.  Accordingly, such quarterly financial statements do not include all of the information and footnotes required by GAAP for complete financial statements.  In the opinion of the Borrower, all adjustments (consisting only of normal recurring accruals) considered necessary for a fair presentation have been included.  Neither the Borrower nor any of its consolidated Subsidiaries had, at the date of the most recent balance sheet referred to above, any of the following except as disclosed in the Borrower’s Form 10-K and 10-Q filings: any material Guarantee Obligation, material contingent liability or material liability for taxes, or any material long-term lease or material unusual forward or long-term commitment, including, without limitation, any interest rate or foreign currency swap or exchange transaction, which is not reflected in the foregoing financial statements or in the notes thereto.
6.2.    Corporate Existence; Compliance with Law.  Each of the Borrower and its Subsidiaries (a) is duly organized, validly existing and in good standing  under the laws of the jurisdiction of its organization, (b) has the corporate power and authority, and the legal right, to own and operate its property, to lease the property it operates as lessee and to conduct the business in which it is currently engaged, (c) is duly qualified as a foreign corporation and in good standing under the laws of each jurisdiction where its ownership, lease or operation of property or the conduct of its business requires such qualification and (d) is in compliance with all Requirements of Law, except to the extent that the failure of the foregoing clauses (a) and (b) (in each such case, only with respect to Subsidiaries of the Borrower), (c) and (d) to be true and correct could not, in the aggregate, reasonably be expected to have a Material Adverse Effect.
6.3.    Corporate Power; Consents and Authorization; Enforceable Obligations.  The Borrower has the corporate power and authority, and the legal right, to make, deliver and perform the Loan Documents to which it is a party and to borrow hereunder and has taken all necessary corporate action to (i) authorize the borrowings on the terms and conditions of this Agreement and any Notes and (ii) to authorize the execution, delivery and performance of the Loan Documents to which it is a party.  No consent or authorization of, filing with, notice to or other act by or in respect of, any Governmental Authority (including, without limitation, exchange control) or any other Person is required with respect to the Borrower or any of its Subsidiaries in connection with the borrowings hereunder or with the execution, delivery, performance, validity or enforceability of the Loan Documents to which the Borrower is party.  This Agreement and each other Loan Document to which the Borrower is, or is to become, a party has been or will be, duly executed and delivered on behalf of the Borrower.  This Agreement and each other Loan Document to which the Borrower is, or is to become, a party constitutes or will constitute, a legal, valid and binding obligation of the Borrower, enforceable against the Borrower in accordance with its terms, subject to the effects of bankruptcy, examination, insolvency, fraudulent conveyance, reorganization, moratorium and other similar laws relating to or affecting creditors’ rights generally, general equitable principles (whether considered in a proceeding in equity or at law) and an implied covenant of good faith and fair dealing.

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6.4.    No Legal Bar.  The execution, delivery and performance of the Loan Documents, the borrowings hereunder and the use of the proceeds thereof will not violate any Requirement of Law or Contractual Obligation of the Borrower or of any of its Subsidiaries which could reasonably be expected to have a Material Adverse Effect and will not result in, or require, the creation or imposition of any Lien on any of its or their respective properties or revenues pursuant to any such Requirement of Law or Contractual Obligation which could reasonably be expected to have a Material Adverse Effect.
6.5.    No Default.  Neither the Borrower nor any of its Subsidiaries is in default under or with respect to any of its Contractual Obligations in any respect which could reasonably be expected to have a Material Adverse Effect.  No Default or Event of Default has occurred and is continuing.
6.6.    Taxes.  Each of the Borrower and its Subsidiaries has filed or caused to be filed all tax returns which, to the knowledge of the Borrower, are required to be filed and has paid all taxes shown to be due and payable on said returns or on any assessments made against it (other than any the amount or validity of which are currently being contested in good faith by appropriate proceedings and with respect to which reserves in conformity with GAAP have been provided on the books of the Borrower or its Subsidiaries, as the case may be), except to the extent that the failure to do so could not reasonably be expected to result in a Material Adverse Effect.
6.7.    Federal Regulations.  No part of the proceeds of any Loans will be used in any manner that would violate Regulation U of the Board as now and from time to time hereafter in effect.
6.8.    ERISA.  Neither a Reportable Event nor a failure to meet the minimum funding standards (within the meaning of Section 302 of ERISA), whether or not waived, has occurred during the five-year period prior to the date on which this representation is made or deemed made with respect to any Plan other than a Multiemployer Plan, and each Plan has complied in all respects with the applicable provisions of ERISA and the Code, where the liability could be reasonably expected to result in a Material Adverse Effect; provided, however, that with respect to any Multiemployer Plan, such representation is made only to the knowledge of the Borrower.  No termination of a Single Employer Plan pursuant to Section 4041(c) or 4042 of ERISA has occurred, and no Lien in favor of the PBGC or a Plan has arisen, during such five-year period.  There has been no determination that any Single Employer Plan is, or is reasonably expected to be, in “at risk” status (within the meaning of Section 430 of the Code or Section 303 of ERISA).  Neither the Borrower nor any Commonly Controlled Entity has had a complete or partial withdrawal from any Multiemployer Plan that has resulted in liability and to the knowledge of the Borrower, neither the Borrower nor any Commonly Controlled Entity would become subject to any liability under ERISA if the Borrower or any such Commonly Controlled Entity were to withdraw completely from all Multiemployer Plans as of the valuation date most closely preceding the date on which this representation is made or deemed made which liability could be reasonably expected to result in a Material Adverse Effect.  To Borrower’s knowledge, no Multiemployer Plan is in Insolvency or in “endangered” or “critical” status (within the meaning of Section 432 of the Code or Section 305 of ERISA).

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6.9.    Investment Company Act; Other Regulations.  The Borrower is not required to be registered as an “investment company” within the meaning of the Investment Company Act of 1940, as amended.  The Borrower is not subject to regulation under any Federal or State statute or regulation (other than Regulation X of the Board) which limits its ability to incur Indebtedness.
6.10.    Purpose of Loans.  The proceeds of the Loans shall be used to finance working capital and general corporate needs of the Borrower and its Subsidiaries, including but not limited to acquisitions.
6.11.    Environmental Matters.  Except to the extent that the failure of the following statements to be true and correct could not reasonably be expected to have a Material Adverse Effect:
(a)    The facilities and properties owned, leased or operated by the Borrower or any of its Subsidiaries (the “Properties”) do not contain, and have not previously contained, any Materials of Environmental Concern in amounts or concentrations which (i) constitute or constituted a violation of, or (ii) could reasonably be expected to give rise to liability under, any Environmental Law.
(b)    The Properties and all operations at the Properties are in compliance, and have in the last five years been in compliance, in all material respects with all applicable Environmental Laws, and there is no contamination at, under or about the Properties or violation of any Environmental Law with respect to the Properties or the business operated by the Borrower or any of its Subsidiaries (the “Business”) which could reasonably be expected to materially interfere with the continued operation of the Properties or Business or materially impair the fair saleable value thereof.
(c)    Neither the Borrower nor any of its Subsidiaries has received any notice of violation, alleged violation, non-compliance, liability or potential liability regarding environmental matters or compliance with Environmental Laws with regard to any of the Properties or the Business, nor does the Borrower have knowledge or reason to believe that any such notice will be received or is being threatened.
(d)    Materials of Environmental Concern have not been transported or disposed of from the Properties in violation of, or in a manner or to a location which could reasonably be expected to give rise to liability under, any Environmental Law, nor have any Materials of Environmental Concern been generated, treated, stored or disposed of at, on or under any of the Properties in violation of, or in a manner that could reasonably be expected to give rise to liability under, any applicable Environmental Law.
(e)    No judicial proceeding or governmental or administrative action is pending or, to the knowledge of the Borrower, threatened, under any Environmental Law to which the Borrower or any Subsidiary is or will be named as a party with respect to the Properties or the Business, nor are there any consent decrees or other decrees, consent orders, administrative orders or other orders, or other administrative or judicial 

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requirements outstanding under any Environmental Law with respect to the Properties or the Business.
(f)    There has been no release or threat of release of Materials of Environmental Concern at or from the Properties, or arising from or related to the operations of the Borrower or any Subsidiary in connection with the Properties or otherwise in connection with the Business, in violation of, or in amounts or in a manner that could reasonably be expected to give rise to liability under, Environmental Laws.
6.12.    Disclosure.  The statements and information contained herein and in any of the information provided to the Administrative Agent or the Lenders in writing in connection with this Agreement, taken as a whole, do not contain any untrue statement of any material fact, or omit to state a fact necessary in order to make such statements or information not misleading in any material respect, in each case in light of the circumstances under which such statements were made or information provided as of the date so provided.
6.13.    No Change.  There has been no change, effect, event, occurrence, state of facts or development which individually or in the aggregate has had or would reasonably be expected to result in a Material Adverse Effect since the Form 10-Q or Form 10-K most recently filed by the Borrower with the Securities and Exchange Commission.
6.14.    No Material Litigation.  There are no actions, suits, proceedings, claims or disputes pending at law, in equity, in arbitration or before any Governmental Authority, by or against the Borrower or any of its Subsidiaries or against any of their properties or revenues that (a) purport to affect or pertain to this Agreement or any other Loan Document, or any of the transactions contemplated hereby, or (b) except as specifically disclosed on the Form 10-Q or Form 10-K most recently filed by the Borrower with the Securities and Exchange Commission, either individually or in the aggregate could reasonably be expected to have a Material Adverse Effect.
6.15.    Anti-Corruption Laws and Sanctions.  The Borrower has implemented and maintains in effect policies and procedures reasonably designed to promote compliance by the Borrower, its Subsidiaries and their respective directors, officers and employees with Anti-Corruption Laws and Sanctions applicable to the Borrower, its Subsidiaries and their respective directors, officers and employees, and the Borrower, its Subsidiaries and, to the knowledge of the Borrower, their respective officers and employees and directors are in compliance with Anti-Corruption Laws and applicable Sanctions in all material respects.  None of (a) the Borrower, any Subsidiary or, to the Borrower’s knowledge, any of their respective directors or officers or (b) to the Borrower’s knowledge, any of the Borrower’s or such Subsidiary’s respective employees is a Sanctioned Person or organized or resident in a Sanctioned Country.  Neither the Term Loans nor the use of proceeds contemplated by this Agreement will be used by the Borrower or any of its Subsidiaries directly or to its knowledge indirectly to violate applicable Anti-Corruption Laws or applicable Sanctions.
                    

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        SECTION 7     
CONDITIONS PRECEDENT
7.1.    Conditions to Closing.  The effectiveness of this Agreement is subject to the satisfaction on the Closing Date of the following conditions precedent:
(a)    Credit Agreement.  The Administrative Agent shall have received this Agreement, executed and delivered by a duly authorized officer of each Lender and the Borrower, with a counterpart for each Lender and original Notes executed by the Borrower, in favor of each Lender requesting a Note.
(b)    Closing Certificate.  The Administrative Agent shall have received, with a counterpart for each Lender, a certificate of the Borrower, dated the Closing Date, substantially in the form of Exhibit B, with appropriate insertions and attachments, satisfactory in form and substance to the Administrative Agent, executed by the President or any Vice President and the Secretary or any Assistant Secretary of the Borrower.
(c)    Representations and Warranties.  Each of the representations and warranties made by the Borrower in or pursuant to the Loan Documents shall be true and correct in all material respects on and as of the Closing Date as if made on and as of the Closing Date.
(d)    Legal Opinions.  The Administrative Agent shall have received, with a counterpart for each Lender, the executed legal opinion of counsel to the Borrower (which may be delivered in part by in-house counsel to the Borrower), covering the matters set forth in Exhibit C.  Each such legal opinion shall cover such other matters incident to the transactions contemplated by this Agreement as the Administrative Agent may reasonably require.
(e)    Fees.  All accrued fees and reasonable out-of-pocket expenses (including the reasonable fees and expenses of counsel to the Agents) of the Agents through the Closing Date invoiced with reasonable detail at least three Business Days prior to the Closing Date in connection with the Loan Documents shall have been paid; provided that the Agents shall have provided an estimate and available reasonable detail five business days prior to the Closing Date.
(f)    Financial Statements.  The Administrative Agent shall have received an unaudited consolidated balance sheet of the Borrower and its consolidated Subsidiaries and the related unaudited consolidated statements of operations and of cash flows for each fiscal quarter ended after December 31, 2017 (so long as such fiscal quarters have ended at least 40 days prior to the Closing Date). The Borrower’s filing of any required unaudited financial statements with respect to the Borrower on Form 10-Q will satisfy the requirements under this paragraph.
(g)    No Default.  No Default or Event of Default shall have occurred and be continuing on such date or after giving effect to the Loans requested to be made.

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(h)    No conflicts.  No law or regulation shall be applicable in the reasonable judgment of the Lenders that restrains, prevents or imposes material adverse conditions upon the Transactions or this Agreement.  All requisite governmental authorities and third parties shall have approved or consented to the Transactions and the other transactions contemplated hereby to the extent required (without the imposition of any materially burdensome condition or qualification in the reasonable judgment of the Lenders) and all such approvals shall be in full force and effect. The Transactions shall be in compliance with all applicable laws and regulations.
(i)    Know Your Customer Information.  The Administrative Agent shall have received at least three Business Days prior to the Closing Date all documentation and other information about the Borrower as has been reasonably requested by the Administrative Agent at least 10 Business Days prior to the Closing Date that is required by regulatory authorities under applicable “know your customer” and anti-money laundering rules and regulations, including without limitation the USA PATRIOT Act.
         SECTION 8     
 
AFFIRMATIVE COVENANTS
The Borrower hereby agrees that, so long as the Loans (or any of them) remain in effect or any amount is owing to any Lender or the Administrative Agent hereunder or under any other Loan Documents, the Borrower shall and (except in the case of delivery of financial information, reports and notices) shall cause each of its Subsidiaries to:
8.1.    Financial Statements.  Furnish to each Lender:
(a)    as soon as available, but in any event not later than 20 days after required to be filed with the Securities and Exchange Commission at the end of each fiscal year of the Borrower, a copy of the consolidated balance sheet of the Borrower and its consolidated Subsidiaries as at the end of such year and the related consolidated statements of operations and stockholders’ equity and of cash flows for such year, setting forth in each case in comparative form the figures for the previous year, reported on without a “going concern” or like qualification or exception, or qualification arising out of the scope of the audit, by Ernst & Young LLP or other independent certified public accountants of nationally recognized standing;
(b)    as soon as available, but in any event not later than 15 days after required to be filed with the Securities and Exchange Commission at the end of each of the first three quarterly periods of each fiscal year of the Borrower commencing with the fiscal quarter ending on or about September 30, 2018, the unaudited consolidated balance sheet of the Borrower and its consolidated Subsidiaries as at the end of such quarter and the related unaudited consolidated statements of operations for such quarter and the portion of the fiscal year through the end of such quarter and of cash flows of the Borrower and its consolidated Subsidiaries for the portion of the fiscal year through the end of such quarter, setting forth in each case in comparative form the figures for the previous year, 

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certified by a Responsible Officer as being fairly stated in all material respects (subject to normal year-end audit adjustments); and
(c)    all such financial statements shall be complete and correct in all material respects and shall be prepared in reasonable detail and in accordance with GAAP applied consistently throughout the periods reflected therein and with prior periods (except as approved by such accountants or officer, as the case may be, and disclosed therein); provided, that it is hereby acknowledged that the quarterly financial statements delivered pursuant to paragraph (b) above may not include all of the information and footnotes required by GAAP for complete annual financial statements.
Any financial statement required to be furnished pursuant to this subsection 8.1 may be delivered electronically and if so delivered, shall be deemed to have been furnished on the earlier of the date (i) on which the Borrower posts such documents, or provides a link thereto on the Borrower’s website at the website address listed in subsection 13.2(a), (ii) on which such documents are posted on the Securities and Exchange Commission’s website (www.sec.gov), or (iii) on which such documents are posted on the Borrower’s behalf on any website to which each Lender and Administrative Agent have access (whether a commercial, third-party website such as Intralinks or DebtDomain or whether sponsored by the Administrative Agent); provided that the Borrower shall give notice (which may be in the form of facsimile or electronic mail) of any such posting to the Administrative Agent (who shall then give notice of any such posting to the Lenders).  Notwithstanding the foregoing, the Borrower shall deliver paper copies of any financial statement referred to in this subsection 8.1 to the Administrative Agent if the Administrative Agent or any Lender requests the Borrower to furnish such paper copies until written notice to cease delivering such paper copies is given by the Administrative Agent.
8.2.    Certificates; Other Information.  Furnish to the Lenders:
(a)    unless (x) each Lender is a lender under the Revolving Credit Agreement as of the last day of the applicable fiscal quarter or year and (y) Section 9.1 of this Agreement and every defined term related thereto is identical to Section 9.1 of the Revolving Credit Agreement and every defined term related thereto, concurrently with the delivery of the financial statements referred to in subsections 8.1(a) and 8.1(b), a certificate of a Responsible Officer stating that such Officer has obtained no knowledge of any Default or Event of Default that has occurred and is continuing except as specified in such certificate, and including calculations demonstrating compliance with subsection 9.1 (which delivery may, unless the Administrative Agent, or a Lender requests executed originals, be by electronic communication including fax or email and shall be deemed to be an original authentic counterpart thereof for all purposes);
(b)    within ten days after the same are sent, copies of all financial statements and reports which the Borrower sends to its stockholders, and within five days after the same are filed, copies of all financial statements and reports which the Borrower may make to, or file with, the Securities and Exchange Commission or any successor or analogous Governmental Authority, and promptly after the same are issued, copies of all press releases issued by the Borrower; and

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(c)    promptly, such additional financial and other information as any Lender may from time to time reasonably request.
The Borrower hereby acknowledges that (a) the Administrative Agent and/or the Arranger may make available to the Lenders materials and/or information provided by or on behalf of the Borrower hereunder (collectively, “Borrower Materials”) by posting the Borrower Materials on IntraLinks or another similar electronic system (the “Platform”) and (b) certain of the Lenders (each, a “Public Lender”) may have personnel who do not wish to receive material non-public information with respect to the Borrower or its Affiliates, or the respective securities of any of the foregoing, and who may be engaged in investment and other market-related activities with respect to such Persons’ securities.  The Borrower hereby agrees that (a) all Borrower Materials that are to be made available to Public Lenders shall be clearly and conspicuously marked “PUBLIC” which, at a minimum, shall mean that the word “PUBLIC” shall appear prominently on the first page thereof; (b) by marking Borrower Materials “PUBLIC,” the Borrower shall be deemed to have authorized the Administrative Agent, the Arranger and the Lenders to treat such Borrower Materials as not containing any material non-public information with respect to the Borrower or its securities for purposes of United States Federal and state securities laws (provided, however, that to the extent such Borrower Materials constitute Information (as defined in subsection 13.14), they shall be treated as set forth in subsection 13.14); (c) all Borrower Materials marked “PUBLIC” are permitted to be made available through a portion of the Platform designated “Public Side Information;” and (d) the Administrative Agent and the Arranger shall be entitled to treat any Borrower Materials that are not marked “PUBLIC” as being suitable only for posting on a portion of the Platform not designated “Public Side Information.”  
8.3.    Payment of Obligations.  Pay, discharge or otherwise satisfy at or before maturity or before they become delinquent, as the case may be, all its obligations of whatever nature (other than where the amount or validity thereof is currently being contested in good faith by appropriate proceedings and reserves in conformity with GAAP with respect thereto have been provided on the books of the Borrower or its Subsidiaries, as the case may be), except to the extent that the failure to do so could not reasonably be expected to result in a Material Adverse Effect.
8.4.    Conduct of Business and Maintenance of Existence.  (a) Continue to engage in business of the same general type as conducted by it on the Closing Date; (b) preserve, renew and keep in full force and effect its corporate existence (except as could not in the aggregate be reasonably expected to have a Material Adverse Effect); (c) take all reasonable action to maintain all rights, privileges and franchises necessary or desirable in the normal conduct of its business except as otherwise permitted pursuant to subsection 9.4; and (d) comply with all Requirements of Law except to the extent that failure to comply therewith could not, in the aggregate, be reasonably expected to have a Material Adverse Effect.
8.5.    Maintenance of Property; Insurance.  Keep all property necessary in its business in good working order and condition except to the extent that failure to do so could not, in the aggregate, be reasonably expected to have a Material Adverse Effect; maintain with financially sound and reputable insurance companies insurance on all its property in at least such 

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amounts and against at least such risks as are adequate for conducting its business; and furnish to each Lender, upon written request, full information as to the insurance carried.
8.6.    Inspection of Property; Books and Records; Discussions.  Keep proper books of records and account in which full, true and correct entries in conformity with GAAP and all Requirements of Law shall be made of all dealings and transactions in relation to its business and activities; and permit representatives of any Lender (upon reasonable advance notice coordinated through the Administrative Agent) to visit and inspect any of its properties and examine and make abstracts from any of its books and records at any reasonable time and as often as may reasonably be desired and to discuss the business, operations, properties and financial and other condition of the Borrower and its Subsidiaries with officers and employees of the Borrower and its Subsidiaries and with its independent certified public accountants.
8.7.    Notices.  Promptly give notice (unless available in the public filings or releases of the Borrower or its Subsidiaries) to the Administrative Agent and each Lender of:
(a)    the occurrence of any Default or Event of Default;
(b)    any (i) default or event of default under any Contractual Obligation of the Borrower or any of its Subsidiaries or (ii) litigation, investigation or proceeding which may exist at any time involving the Borrower or any of its Subsidiaries, which in either case, could reasonably be expected to have a Material Adverse Effect; and
(c)    the following events, as soon as reasonably possible and in any event within 30 days after the Borrower knows of the event:  (i) the occurrence or reasonably expected occurrence of any Reportable Event with respect to any Plan, a failure of the Borrower, its Subsidiaries or a Commonly Controlled Entity to make any required contribution to a Plan, the creation of any Lien in favor of the PBGC or a Plan, any determination that a Single Employer Plan is in “at risk” status (within the meaning of Section 430 of the Code or Section 303 of ERISA), or any withdrawal by the Borrower or a Commonly Controlled Entity from, or the termination or Insolvency of, any Multiemployer Plan or determination that any Multiemployer Plan is in “endangered” or “critical” status (within the meaning of Section 432 of the Code or Section 305 of ERISA); or (ii) the institution of proceedings or the taking of any other action by the PBGC, the Borrower, any Commonly Controlled Entity or any Multiemployer Plan with respect to the withdrawal by the Borrower or a Commonly Controlled Entity from, or the termination or Insolvency of, any Plan (other than the termination of any Single Employer Plan pursuant to Section 4041(b) of ERISA), or with respect to any determination that any Single Employer Plan is in “at risk” status or any such Multiemployer Plan is in “endangered” or “critical” status; where, in connection with any of the foregoing in clause (i) or (ii), only to the extent the amount of liability the Borrower or any Commonly Controlled Entity could reasonably be expected to have arising from an event has a Material Adverse Effect.
Each notice pursuant to this subsection 8.7 shall be accompanied by a statement of a Responsible Officer setting forth details of the occurrence referred to therein and stating what action the Borrower proposes to take with respect thereto.

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      SECTION 9     
 
NEGATIVE COVENANTS
The Borrower hereby agrees that, so long as the Loans (or any of them) remain in effect or any amount is owing to any Lender or the Administrative Agent hereunder or under any other Loan Documents, the Borrower shall not, and (except with respect to subsection 9.1) shall not permit any of its Subsidiaries to, directly or indirectly:
9.1.    Financial Covenant. Consolidated Leverage Ratio.  Permit the Consolidated Leverage Ratio as at the last day of any period of four consecutive fiscal quarters of the Borrower to exceed the Maximum Leverage Ratio.
9.2.    Limitation on Liens.  Create, incur, assume or suffer to exist any Lien upon any of its property, assets or revenues, whether now owned or hereafter acquired, except for:
(a)    Liens for taxes not yet due or which are being contested in good faith by appropriate proceedings, provided that adequate reserves with respect thereto are maintained on the books of the Borrower or its Subsidiaries, as the case may be, in conformity with GAAP;
(b)    carriers’, warehousemen’s, mechanics’, materialmen’s, repairmen’s or other like Liens arising in the ordinary course of business which are not overdue for a period of more than 60 days or which are being contested in good faith by appropriate proceedings;
(c)    pledges or deposits in connection with workers’ compensation, unemployment insurance and other social security legislation and deposits securing liability to insurance carriers under insurance or self-insurance arrangements;
(d)    deposits to secure the performance of bids, trade contracts (other than for borrowed money), leases, statutory obligations, surety and appeal bonds, performance bonds and other obligations of a like nature incurred in the ordinary course of business;
(e)    easements, rights-of-way, restrictions and other similar encumbrances incurred in the ordinary course of business which, in the aggregate, are not substantial in amount and which do not in any case materially detract from the value of the property subject thereto or materially interfere with the ordinary conduct of the business of the Borrower or such Subsidiary;
(f)    Liens in existence on the date hereof listed on Schedule 9.2, provided that no such Lien is spread to cover any additional property after the Closing Date and that the amount of Indebtedness secured thereby is not increased;
(g)    Liens securing Indebtedness of the Borrower and its Subsidiaries incurred to finance the acquisition of fixed or capital assets, provided that (i) such Liens shall be created substantially simultaneously with the acquisition of such fixed or capital assets, (ii) such Liens do not at any time encumber any property other than the property financed 

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by such Indebtedness and (iii) the amount of Indebtedness secured thereby is not increased;
(h)    Liens on the property or assets of a corporation which becomes a Subsidiary after the date hereof, provided that (i) such Liens existed at the time such corporation became a Subsidiary and were not created in anticipation thereof, (ii) any such Lien is not spread to cover any property or assets of such corporation after the time such corporation becomes a Subsidiary, and (iii) the amount of Indebtedness secured thereby is not increased;
(i)    Liens created pursuant to any Receivables Transaction permitted pursuant to subsection 9.3; and
(j)    Liens (not otherwise permitted hereunder) which secure obligations not exceeding (as to the Borrower and all Subsidiaries) the greater of (i) $500,000,000 and (ii) 7.5% of the Consolidated Tangible Assets, in aggregate amount at any time.
9.3.    Limitation on Indebtedness pursuant to Receivables Transactions.  Create, issue, incur, assume, become liable in respect of or suffer to exist any Indebtedness pursuant to any Receivables Transaction, except for Indebtedness pursuant to all Receivables Transactions in an aggregate principal amount not exceeding 20% of Consolidated Tangible Assets.
9.4.    Limitation on Fundamental Changes.  Enter into any merger, consolidation or amalgamation, or liquidate, wind up or dissolve itself (or suffer any liquidation or dissolution), or convey, sell, lease, assign, transfer or otherwise dispose of, all or substantially all of its property, business or assets, except:
(a)    any Subsidiary of the Borrower may be merged or consolidated with or into the Borrower (provided that the Borrower shall be the continuing or surviving corporation) or with or into any one or more wholly owned Subsidiaries of the Borrower (provided that the wholly owned Subsidiary or Subsidiaries shall be the continuing or surviving corporation);
(b)    any Subsidiary of the Borrower that is inactive or no longer needed in the Borrower’s consolidated group structure may be liquidated, dissolved, or otherwise eliminated under applicable law, so long as any remaining significant assets of such Subsidiary are transferred to the Borrower or to another of Borrower’s wholly owned Subsidiaries (as a liquidation distribution or otherwise);
(c)    the Borrower or any wholly owned Subsidiary of the Borrower may sell, lease, transfer or otherwise dispose of any or all of its assets (upon voluntary liquidation or otherwise) to the Borrower or any other wholly owned Subsidiary, and, so long as no Default or Event of Default shall have occurred and be continuing or would occur as a result thereof, the Borrower or any Subsidiary of the Borrower may sell, lease, transfer or otherwise dispose of any or all of its assets (upon voluntary liquidation or otherwise) to any non-wholly owned Subsidiary of the Borrower for fair market value;

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(d)    any non-wholly owned Subsidiary of the Borrower may sell, lease, transfer or otherwise dispose of any or all of its assets (upon voluntary liquidation or otherwise) to the Borrower or any wholly owned Subsidiary of the Borrower for fair market value or may sell, lease, transfer or otherwise dispose of any or all of its assets (upon voluntary liquidation or otherwise) to any other non-wholly owned Subsidiary of the Borrower; and
(e)    the Borrower or any Subsidiary of the Borrower may be merged or consolidated with or into another Person; provided that the Borrower or such Subsidiary shall be the continuing or surviving corporation and no Default or Event of Default shall have occurred and be continuing or would occur as a result thereof (and, in the case of any such transaction involving a Subsidiary, such Subsidiary shall continue to be a Subsidiary or the Borrower shall have received fair market value therefor as determined by the Board of Directors of the Borrower); and provided further that the Borrower may not be merged or consolidated with or into any Subsidiary.
9.5.    Limitation on Indebtedness of Subsidiaries.  Permit any Subsidiaries to, directly or indirectly, create, incur, assume or guaranty, or otherwise become or remain directly or indirectly liable with respect to, any Indebtedness in excess of 12.5% of Consolidated Tangible Assets in the aggregate at any time for all such Subsidiaries, except for (i) Indebtedness permitted by subsection 9.3 hereof, (ii) any Indebtedness of any Subsidiary of the Borrower owing to the Borrower or to any other Subsidiary of the Borrower and (iii) Indebtedness in existence on the date hereof listed on Schedule 9.5.
       SECTION 10     
 
EVENTS OF DEFAULT
If any of the following events shall occur and be continuing:
(a)    The Borrower shall fail to pay any principal of any Loan when due in accordance with the terms thereof or hereof; or the Borrower shall fail to pay any interest on any Loan, or any fee or other amount payable hereunder, within five days after any such interest or other amount becomes due in accordance with the terms thereof or hereof; or
(b)    Any representation or warranty made or deemed made by the Borrower herein or in any other Loan Document or which is contained in any certificate, document or financial or other statement furnished by it at any time under or in connection with this Agreement shall prove to have been incorrect in any material respect on or as of the date made or deemed made; or
(c)    The Borrower shall default in the observance or performance of any covenant contained in subsections 8.4(b), 8.7(a) or in Section 9; or
(d)    The Borrower shall default in the observance or performance of any other agreement contained in this Agreement (other than as provided above in this Section 10) 

- 45 -    

and such default described in this clause (d) shall continue unremedied for a period of 30 days; or
(e)    The Borrower or any of its Subsidiaries shall: (i) default in any payment of principal of or interest of any Indebtedness (other than the Loans) or in the payment of any Guarantee Obligation, beyond the period of grace, if any, provided in the instrument or agreement under which such Indebtedness or Guarantee Obligation was created; or (ii) default in the observance or performance of any other agreement or condition relating to any such Indebtedness or Guarantee Obligation or contained in any instrument or agreement evidencing, securing or relating thereto, or any other event shall occur or condition exist, the effect of which default or other event or condition is to cause, or to permit the holder or holders of such Indebtedness or beneficiary or beneficiaries of such Guarantee Obligation (or a trustee or agent on behalf of such holder or holders or beneficiary or beneficiaries) to cause, with the giving of notice if required, such Indebtedness to become due prior to its stated maturity or such Guarantee Obligation to become payable; provided, however, that no Default or Event of Default shall exist under this paragraph unless the aggregate amount of Indebtedness and/or Guarantee Obligations in respect of which any default or other event or condition referred to in this paragraph shall have occurred shall be equal to at least $150,000,000; or
(f)    (i) The Borrower or any of its Subsidiaries shall commence any case, proceeding or other action (A) under any existing or future law of any jurisdiction, domestic or foreign, relating to bankruptcy, insolvency, examinership, court protection, reorganization or relief of debtors, seeking to have an order for relief entered with respect to it, or seeking to adjudicate it a bankrupt or insolvent, or seeking reorganization, arrangement, adjustment, winding-up, liquidation, dissolution, composition, examinership, court protection or other relief with respect to it or its debts, or (B) seeking appointment of an examiner, receiver, trustee, custodian, conservator or other similar official for it or for all or any substantial part of its assets, or the Borrower or any of its Subsidiaries shall make a general assignment for the benefit of its creditors; or (ii) there shall be commenced against the Borrower or any of its Subsidiaries any case, proceeding or other action of a nature referred to in clause (i) above which (A) results in the entry of an order for relief or any such adjudication or appointment or (B) remains undismissed, undischarged or unbonded for a period of 60 days; or (iii) there shall be commenced against the Borrower or any of its Subsidiaries any case, proceeding or other action seeking issuance of a warrant of attachment, execution, distraint or similar process against all or any substantial part of its assets which results in the entry of an order for any such relief which shall not have been vacated, discharged, or stayed or bonded pending appeal within 60 days from the entry thereof; or (iv) the Borrower or any of its Subsidiaries shall take any action in furtherance of, or indicating its consent to, approval of, or acquiescence in, any of the acts set forth in clause (i), (ii), or (iii) above; or (v) the Borrower or any of its Subsidiaries shall generally not or shall admit in writing its inability to, pay its debts as they become due; or
(g)    (i)  The Borrower, its Subsidiaries or any Commonly Controlled Entity engages in any “prohibited transaction” (as defined in Section 406 of ERISA or Section 4975 of the Code) involving any Plan, (ii) any Plan fails to meet the minimum funding 

- 46 -    

standards described in Section 302 of ERISA or any Lien in favor of the PBGC or a Plan arises on the assets of the Borrower or any Commonly Controlled Entity, (iii) a Reportable Event occurs with respect to, or proceedings shall commence to have a trustee appointed, or a trustee shall be appointed, to administer or to terminate, any Single Employer Plan, which Reportable Event or commencement of proceedings or appointment of a trustee results in the termination of such Plan for purposes of Title IV of ERISA, (iv) any Single Employer Plan terminates for purposes of Title IV of ERISA, (v) a determination that any Single  Employer Plan is, or is expected to be, in “at risk” status (within the meaning of Section 430 of the Code or Section 303 of ERISA), (vi) the Borrower or any Commonly Controlled Entity incurs any liability in connection with a withdrawal from, or the Insolvency of, a Multiemployer Plan, or a determination that any Multiemployer Plan is in “endangered” or “critical” status (within the meaning of Section 432 of the Code or Section 305 of ERISA), or (vii) any other event or condition occurs or exist with respect to a Plan; and in each case in clauses (i) through (vii) above, such event or condition, together with all other such events or conditions, if any, could reasonably be expected to have a Material Adverse Effect; or
(h)    Any one judgment or decree shall be entered against the Borrower or any of its Subsidiaries involving in the aggregate a liability (not paid or in excess of the amount recoverable by insurance) of $150,000,000 (net of any related tax benefit) or more, and such judgment or decree shall not have been vacated, discharged, stayed or appealed (as long as enforcement is effectively stayed during such appeal or such appeal is bonded, if required) within 60 days from the entry thereof; or
(i)    (i) Any Person or “group” (within the meaning of Section 13(d) or 14(d) of the Securities Exchange Act of 1934, as amended) (A) shall have acquired beneficial ownership of 40% or more of any outstanding class of Capital Stock having ordinary voting power in the election of directors of the Borrower (other than Peter M. Nicholas and John E. Abele or any of their affiliated trust holdings) or (B) shall obtain the power (whether or not exercised) to elect a majority of the Borrower’s directors; or (ii) the Board of Directors of the Borrower shall not consist of a majority of Continuing Directors; “Continuing Directors” shall mean the directors of the Borrower on the Closing Date and each other director, if such other director’s nomination for election to the Board of Directors of the Borrower is recommended by a majority of the then Continuing Directors;
then, and in any such event, (A) if such event is an Event of Default specified in clause (i) or (ii) of paragraph (f) above with respect to the Borrower, automatically the Term Loan Commitments shall immediately terminate and the Loans hereunder (with accrued interest thereon) and all other amounts owing under this Agreement and the other Loan Documents shall immediately become due and payable, and (B) if such event is any other Event of Default, either or both of the following actions may be taken:  (i) with the consent of the Majority Lenders, the Administrative Agent may, or upon the request of the Majority Lenders, the Administrative Agent shall, by notice to the Borrower declare the Term Loan Commitments to be terminated forthwith, whereupon the Term Loan Commitments shall immediately terminate; and (ii) with the consent of the Majority Lenders, the Administrative Agent may, or upon the request of the Majority Lenders, the Administrative Agent shall, by notice to the Borrower, declare the Loans 

- 47 -    

hereunder (with accrued interest thereon) and all other amounts owing under this Agreement and the other Loan Documents to be due and payable forthwith, whereupon the same shall immediately become due and payable.
       SECTION 11     
 
THE AGENTS
11.1.    Appointment.  Each Lender hereby irrevocably designates and appoints the Administrative Agent as the agent of such Lender under this Agreement and the other Loan Documents, and each Lender irrevocably authorizes the Administrative Agent, in such capacity, to take such action on its behalf under the provisions of this Agreement and the other Loan Documents and to exercise such powers and perform such duties as are expressly delegated to the Administrative Agent by the terms of this Agreement and the other Loan Documents, together with such other powers as are reasonably incidental thereto.  Notwithstanding any provision to the contrary elsewhere in this Agreement, the Administrative Agent shall not have any duties or responsibilities, except those expressly set forth herein, or any fiduciary relationship with any Lender, and no implied covenants, functions, responsibilities, duties, obligations or liabilities shall be read into this Agreement or any other Loan Document or otherwise exist against the Administrative Agent.
11.2.    Delegation of Duties.  The Administrative Agent may execute any of its duties under this Agreement and the other Loan Documents by or through agents or attorneys-in-fact and shall be entitled to advice of counsel concerning all matters pertaining to such duties.  The Administrative Agent shall not be responsible for the negligence or misconduct of any agents or attorneys in-fact selected by it with reasonable care.
11.3.    Exculpatory Provisions.  Neither any Agent nor any of its officers, directors, employees, agents, attorneys-in-fact or Affiliates shall be (i) liable for any action lawfully taken or omitted to be taken by it or such Person under or in connection with this Agreement or any other Loan Document (except for its or such Person’s own gross negligence or willful misconduct) or (ii) responsible in any manner to any of the Lenders for any recitals, statements, representations or warranties made by the Borrower or any officer thereof contained in this Agreement or any other Loan Document or in any certificate, report, statement or other document referred to or provided for in, or received by such Agent under or in connection with, this Agreement or any other Loan Document or for the value, validity, effectiveness, genuineness, enforceability or sufficiency of this Agreement or any other Loan Document or for any failure of the Borrower to perform its obligations hereunder or thereunder.  No Agent shall be under any obligation to any Lender to ascertain or to inquire as to the observance or performance of any of the agreements contained in, or conditions of, this Agreement or any other Loan Document, or to inspect the properties, books or records of the Borrower.
11.4.    Reliance by Administrative Agent.  The Administrative Agent shall be entitled to rely, and shall be fully protected in relying, upon any Note, writing, resolution, notice, consent, certificate, affidavit, letter, telecopy, telex or teletype message, statement, order or other document or conversation believed by it to be genuine and correct and to have been signed, sent or made by the proper Person or Persons and upon advice and statements of legal counsel 

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(including, without limitation, counsel to the Borrower), independent accountants and other experts selected by the Administrative Agent.  The Administrative Agent may deem and treat the payee of any Note as the owner thereof for all purposes unless a written notice of assignment, negotiation or transfer thereof shall have been filed with the Administrative Agent.  The Administrative Agent shall be fully justified in failing or refusing to take any action under this Agreement or any other Loan Document unless it shall first receive such advice or concurrence of the Majority Lenders as it deems appropriate or it shall first be indemnified to its satisfaction by the Lenders against any and all liability and expense which may be incurred by it by reason of taking or continuing to take any such action.  The Administrative Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement and the other Loan Documents in accordance with a request of the Majority Lenders, and such request and any action taken or failure to act pursuant thereto shall be binding upon all the Lenders and all future holders of the Loans.
11.5.    Notice of Default.  The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder unless the Administrative Agent has received notice from a Lender or the Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default”.  In the event that the Administrative Agent receives such a notice, the Administrative Agent shall give notice thereof to the Lenders.  The Administrative Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Majority Lenders; provided that unless and until the Administrative Agent shall have received such directions, the Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable in the best interests of the Lenders.
11.6.    Non-Reliance on Administrative Agent and Other Lenders.  Each Lender expressly acknowledges that neither the Administrative Agent nor any of its officers, directors, employees, agents, attorneys-in-fact or Affiliates has made any representations or warranties to it and that no act by the Administrative Agent hereafter taken, including any review of the affairs of the Borrower, shall be deemed to constitute any representation or warranty by the Administrative Agent to any Lender.  Each Lender represents to the Administrative Agent that it has, independently and without reliance upon the Administrative Agent or any other Lender, and based on such documents and information as it has deemed appropriate, made its own appraisal of and investigation into the business, operations, property, financial and other condition and creditworthiness of the Borrower and made its own decision to make its Loans hereunder and enter into this Agreement.  Each Lender also represents that it will, independently and without reliance upon the Administrative Agent or any other Lender, and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit analysis, appraisals and decisions in taking or not taking action under this Agreement and the other Loan Documents, and to make such investigation as it deems necessary to inform itself as to the business, operations, property, financial and other condition and creditworthiness of the Borrower.  Except for notices, reports and other documents expressly required to be furnished to the Lenders by the Administrative Agent hereunder, the Administrative Agent shall not have any duty or responsibility to provide any Lender with any credit or other information concerning the business, operations, property, condition (financial or otherwise), prospects or creditworthiness 

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of the Borrower which may come into the possession of the Administrative Agent or any of its officers, directors, employees, agents, attorneys-in-fact or Affiliates.
11.7.    Indemnification.  The Lenders agree to indemnify the Administrative Agent (or sub-agent), in its capacity and any Related Party acting for the Administrative Agent (or any sub-agent) in connection with such capacity (to the extent not reimbursed by the Borrower and without limiting the obligation of the Borrower to do so), ratably according to their respective Aggregate Exposure Percentages in effect on the date on which indemnification is sought (or, if indemnification is sought after the date upon which the Term Loan Commitments shall have terminated and the Loans shall have been paid in full, ratably in accordance with such Aggregate Exposure Percentages immediately prior to such date), from and against any and all liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses or disbursements of any kind whatsoever which may at any time (including, without limitation, at any time following the payment of the Loans) be imposed on, incurred by or asserted against the Administrative Agent (or any sub-agent) or such Related Party in any way relating to or arising out of, the Term Loan Commitments, this Agreement, any of the other Loan Documents or any documents contemplated by or referred to herein or therein or the transactions contemplated hereby or thereby or any action taken or omitted by the Administrative Agent (or any sub-agent) or such Related Party under or in connection with any of the foregoing; provided that no Lender shall be liable for the payment of any portion of such liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses or disbursements which are found by a final and nonappealable decision of a court of competent jurisdiction to have resulted from the gross negligence or willful misconduct of the Administrative Agent (or sub-agent) or any Related Party acting for the Administrative Agent (or any sub-agent) in connection with such capacity.  The agreements in this subsection 11.7 shall survive the payment of the Loans and all other amounts payable hereunder.
11.8.    Administrative Agent in Its Individual Capacity.  The Administrative Agent and its Affiliates may make loans to, accept deposits from and generally engage in any kind of business with the Borrower, if any, as though the Administrative Agent were not the Administrative Agent hereunder and under the other Loan Documents.  With respect to the Loans made by it, the Administrative Agent shall have the same rights and powers under this Agreement and the other Loan Documents as any Lender and may exercise the same as though it were not the Administrative Agent, and the terms “Lender” and “Lenders” shall include the Administrative Agent in its individual capacity.
11.9.    Successor Administrative Agent.  The Administrative Agent may resign as Administrative Agent upon 10 days’ notice to the Lenders.  If the Administrative Agent shall resign as Administrative Agent under this Agreement and the other Loan Documents, then the Majority Lenders shall appoint from among the Lenders a successor agent for the Lenders, which successor agent (provided that it shall have been approved by the Borrower), shall succeed to the rights, powers and duties of the Administrative Agent hereunder.  Upon the earlier of (i) the 10 day period following the Administrative Agent’s notice of resignation to the Lenders and (ii) the acceptance of a successor’s appointment as Administrative Agent hereunder, such successor shall succeed to and become vested with all of the rights, powers, privileges and duties of the retiring (or retired) Administrative Agent, and the retiring Administrative Agent shall be discharged from all of its duties and obligations hereunder or under the other Loan Documents (if not already 

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discharged therefrom as provided above in this Section 11).  The term “Administrative Agent” shall mean such successor agent, and the former Administrative Agent’s rights, powers and duties as Administrative Agent shall be terminated, without any other or further act or deed on the part of such former Administrative Agent or any of the parties to this Agreement or any holders of the Loans.  After any retiring Administrative Agent’s resignation as Administrative Agent, the provisions of this Section 11 shall inure to its benefit as to any actions taken or omitted to be taken by it while it was Administrative Agent under this Agreement and the other Loan Documents.
11.10.    The Arranger and the Syndication Agents .  None of the Arranger or the Syndication Agents shall have any right, power, obligation, liability, responsibility or duty under this Agreement other than those applicable to all Lenders as such.  Without limiting the foregoing, none of the Arranger or the Syndication Agents shall have or be deemed to have any fiduciary relationship with any Lender.  Each Lender acknowledges that it has not relied, and will not rely, on the Arranger or the Syndication Agents in deciding to enter into this Agreement or in taking or not taking any action hereunder.
11.11.    Certain ERISA Matters.
(a)    Each Lender (x) represents and warrants, as of the date such Person became a Lender party hereto, to, and (y) covenants, from the date such Person became a Lender party hereto to the date such Person ceases being a Lender party hereto, for the benefit of the Administrative Agent, the Arranger, and the other Agents and their respective Affiliates, and not, for the avoidance of doubt, to or for the benefit of the Borrower, that at least one of the following is and will be true:
(i)    such Lender is not using “plan assets” (within the meaning of the Plan Asset Regulations) of one or more Benefit Plans in connection with the Loans or the Term Loan Commitments, 
(ii)    the transaction exemption set forth in one or more PTEs, such as PTE 84-14 (a class exemption for certain transactions determined by independent qualified professional asset managers), PTE 95-60 (a class exemption for certain transactions involving insurance company general accounts), PTE 90-1 (a class exemption for certain transactions involving insurance company pooled separate accounts), PTE 91-38 (a class exemption for certain transactions involving bank collective investment funds) or PTE 96-23 (a class exemption for certain transactions determined by in-house asset managers), is applicable with respect to such Lender’s entrance into, participation in, administration of and performance of the Loans, the Term Loan Commitments and this Agreement, 
(iii)    (A) such Lender is an investment fund managed by a “Qualified Professional Asset Manager” (within the meaning of Part VI of PTE 84-14), (B) such Qualified Professional Asset Manager made the investment decision on behalf of such Lender to enter into, participate in, administer and perform the Loans, the Term Loan Commitments and this Agreement, (C) the entrance into, participation in, administration of and performance of the Loans, the Term Loan Commitments and this Agreement satisfies the requirements of sub-sections (b) through (g) of Part I of PTE 84-14 and (D) 

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to the best knowledge of such Lender, the requirements of subsection (a) of Part I of PTE 84-14 are satisfied with respect to such Lender’s entrance into, participation in, administration of and performance of the Loans, the Term Loan Commitments and this Agreement, or
(iv)    such other representation, warranty and covenant as may be agreed in writing between the Administrative Agent, in its sole discretion, and such Lender.
(b)    In addition, unless either (1) sub-clause (i) in the immediately preceding clause (a) is true with respect to a Lender or (2) a Lender has not provided another representation, warranty and covenant in accordance with sub-clause (iv) in the immediately preceding clause (a), such Lender further (x) represents and warrants, as of the date such Person became a Lender party hereto, to, and (y) covenants, from the date such Person became a Lender party hereto to the date such Person ceases being a Lender party hereto, for the benefit of, the Administrative Agent, the Arranger, and the other Agents and their respective Affiliates, and not, for the avoidance of doubt, to or for the benefit of the Borrower, that none of the Administrative Agent, or the Arranger, or any other Agents or any of their respective Affiliates is a fiduciary with respect to the assets of such Lender involved in the Loans, the Term Commitments and this Agreement (including in connection with the reservation or exercise of any rights by the Administrative Agent under this Agreement, any Loan Document or any documents related to hereto or thereto).
       SECTION 12     
 
RESERVED
       SECTION 13     
 
MISCELLANEOUS
13.1.    Amendments and Waivers.
(a)    Except as provided in paragraphs (b) and (d) of this subsection 13.1, neither this Agreement nor any other Loan Document, nor any terms hereof or thereof may be amended, supplemented or modified except in accordance with the provisions of this subsection.  The Majority Lenders may, or, with the written consent of the Majority Lenders, the Administrative Agent may, from time to time, (a) enter into with the Borrower written amendments, supplements or modifications hereto and to the other Loan Documents for the purpose of adding any provisions to this Agreement or the other Loan Documents or changing in any manner the rights of the Lenders or of the Borrower hereunder or thereunder or (b) waive, on such terms and conditions as the Majority Lenders or the Administrative Agent, as the case may be, may specify in such instrument, any of the requirements of this Agreement or the other Loan Documents or any Default or Event of Default and its consequences; provided, however, that no such waiver and no such amendment, supplement or modification shall (i) reduce the amount or extend the scheduled date of maturity of any Loan or reduce the stated rate or amount of any interest or fee payable hereunder (except that any amendment or modification of defined terms used in the financial covenants in this Agreement shall not constitute a reduction in the rate of interest or 

- 52 -    

fees for purposes of this clause (i)) or extend the scheduled date of any payment thereof or increase the amount or extend the expiration date of any Lender’s Term Loan Commitment without the consent of each Lender directly affected thereby, (ii) amend, modify or waive any provision of this subsection or reduce the percentages specified in the definitions, of Majority Lenders or consent to the assignment or transfer by the Borrower of any of its rights and obligations under this Agreement and the other Loan Documents, in each case without the written consent of all the Lenders, (iii) amend, modify or waive any provision of Section 11 without the written consent of the then Administrative Agent or (iv) modify the pro rata distribution of payments, proceeds or fees payable to the Lenders (except in connection with an amend and extend transaction offered ratably to all Lenders under a tranche of Loans or Term Loan Commitments) without the consent of each Lender directly affected thereby.  Any such waiver and any such amendment, supplement or modification shall apply equally to each of the Lenders and shall be binding upon the Borrower, the Lenders, the Administrative Agent and all future holders of the Loans.  In the case of any waiver, the Borrower, the Lenders and the Administrative Agent shall be restored to their former positions and rights hereunder and under the other Loan Documents, and any Default or Event of Default waived shall be deemed to be cured and not continuing; no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereon.
(b)    Notwithstanding the provisions of this subsection 13.1, 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 Term Loan Commitment of any Defaulting Lender may not be increased or extended and the principal amount owed to such Lender may not be reduced other than pursuant to payments made by a Borrower with respect thereto without the consent of such 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.
(c)    Notwithstanding the foregoing, the Administrative Agent, with the consent of the Borrower, may amend, modify or supplement any Loan Document without the consent of any Lender or the Majority Lenders in order to correct, amend or cure any ambiguity, inconsistency or defect or correct any typographical error or manifest error in any Loan Document.
(d)    If any Lender is a Non-Consenting Lender, then the Borrower may, at its sole expense and effort, upon notice to such Lender and the Administrative Agent, require such Lender to assign and delegate, without recourse (in accordance with and subject to the restrictions contained in, and consents required by, Section 13.6 and payment of amounts due to such Lender under this Agreement), all of its interests, rights (other than its existing rights to payments pursuant to Section 3.9 or Section 3.10) and obligations under this Agreement and the related Loan Documents to an assignee that shall assume such obligations (which assignee may be another Lender or an Affiliate of a Lender, if a Lender or such Affiliate accepts such assignment); provided that the applicable assignee shall have consented to the applicable amendment, waiver or consent.
13.2.    Notices.

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(a)    General.  All notices, requests and demands to or upon the respective parties hereto to be effective shall be in writing (including by facsimile transmission) and, unless otherwise expressly provided herein, shall be deemed to have been duly given or made (a) in the case of delivery by hand, when delivered, (b) in the case of delivery by mail, three days after being deposited in the mails, postage prepaid, or (c) in the case of delivery by facsimile transmission, when sent and receipt has been confirmed, addressed as follows in the case of the Borrower and the Administrative Agent, and as set forth in Schedule I in the case of the other parties hereto, or to such other address as may be hereafter notified by the respective parties hereto:
If to the Borrower:
Boston Scientific Corporation 
300 Boston Scientific Way 
Marlborough, Massachusetts 01752 
Attention:    Daniel J. Brennan 
    Executive Vice President and Chief Financial Officer 
    and 
    Robert J. Castagna 
    Vice President and Treasurer 
    Fax: 508-683-4410 
    www.bostonscientific.com
with a copy to:
Boston Scientific Corporation 
300 Boston Scientific Way 
Marlborough, Massachusetts 01752 
Attention:    Desiree Ralls-Morrison 
    Senior Vice President, General Counsel, and Secretary 
Fax:  508-683-4801
If to the Administrative Agent (for payments and notices of borrowings, etc.):
Wells Fargo Bank, National Association 
MAC D01109-019
1525 W. W.T. Harris Blvd.
Charlotte, North Carolina 28262
Attention: Syndication Agency Services
Facsimile No.: 844-879-5899

If to the Administrative Agent (for other notices):
Wells Fargo Bank, National Association 
301 S. College Street, 14th Floor
Charlotte, NC 28202
Attn: Darin Mullis
Telephone: (704) 715-4361

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provided that any notice, request or demand to or upon the Administrative Agent or the Lenders pursuant to subsection 2.2, 2.6, or 3.2 shall not be effective until received.
(b)    Notices and other communications to the Lenders 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 pursuant to Sections 2 and 3 if such Lender has notified the Administrative Agent that it is incapable of receiving notices under such Section 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), provided that if such notice or other communication is not sent during the normal business hours of the recipient, such notice or communication shall be deemed to have been sent at the opening of business on the next business day for the recipient, and (ii) notices or communications posted to an Internet or intranet website shall be deemed received upon the deemed receipt by the intended recipient at its e-mail address as described in the foregoing clause (i) of notification that such notice or communication is available and identifying the website address therefor.
(c)    The Platform.  THE PLATFORM IS PROVIDED “AS IS” AND “AS AVAILABLE.” THE AGENT PARTIES (AS DEFINED BELOW) DO NOT WARRANT THE ACCURACY OR COMPLETENESS OF THE BORROWER MATERIALS OR THE ADEQUACY OF THE PLATFORM, AND EXPRESSLY DISCLAIM LIABILITY FOR ERRORS IN OR OMISSIONS FROM THE BORROWER MATERIALS.  NO WARRANTY OF ANY KIND, EXPRESS, IMPLIED OR STATUTORY, INCLUDING ANY WARRANTY OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NON-INFRINGEMENT OF THIRD PARTY RIGHTS OR FREEDOM FROM VIRUSES OR OTHER CODE DEFECTS, IS MADE BY ANY AGENT PARTY IN CONNECTION WITH THE BORROWER MATERIALS OR THE PLATFORM.  In no event shall the Administrative Agent or any of its Affiliates (collectively, the “Agent Parties”) have any liability to the Borrower, any Lender or any other Person for losses, claims, damages, liabilities or expenses of any kind (whether in tort, contract or otherwise) arising out of the Borrower’s or the Administrative Agent’s transmission of Borrower Materials through the Internet, except to the extent that such losses, claims, damages, liabilities or expenses are determined by a court of competent jurisdiction by a final and nonappealable judgment to have resulted from the gross negligence or willful misconduct of such Agent Party; provided, however, that in no event shall any Agent Party have any liability to the Borrower, any Lender or any other Person for indirect, special, incidental, consequential or punitive damages (as opposed to direct or actual damages).
13.3.    No Waiver; Cumulative Remedies.  No failure to exercise and no delay in exercising, on the part of the Administrative Agent or any Lender, any right, remedy, power or 

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privilege hereunder or under the other Loan Documents shall operate as a waiver thereof; nor shall any single or partial exercise of any right, remedy, power or privilege hereunder preclude any other or further exercise thereof or the exercise of any other right, remedy, power or privilege.  The rights, remedies, powers and privileges herein provided are cumulative and not exclusive of any rights, remedies, powers and privileges provided by law.
13.4.    Survival of Representations and Warranties.  All representations and warranties made hereunder, in the other Loan Documents and in any document, certificate or statement delivered pursuant hereto or in connection herewith shall survive the execution and delivery of this Agreement and the making of the Loans hereunder.
13.5.    Payment of Expenses and Taxes.  The Borrower agrees (a) to pay or reimburse the Arranger and the Administrative Agent for all their reasonable and documented out‐of‐pocket costs and expenses incurred in connection with the development, preparation and execution of, and any amendment, supplement or modification to, this Agreement and the other Loan Documents and any other documents prepared in connection herewith or therewith, and the consummation and administration of the transactions contemplated hereby and thereby, including, without limitation, the reasonable and documented fees and disbursements of outside counsel (including one local counsel in each applicable jurisdiction) to the Administrative Agent and the Arranger, (b) to pay or reimburse each Lender, the Arranger and the Administrative Agent for all its costs and expenses incurred in connection with the enforcement or preservation of any rights under this Agreement, the other Loan Documents and any such other documents, including, without limitation, the documented fees and disbursements of counsel (including the allocated fees and expenses of in house counsel) to each Lender and of counsel to the Administrative Agent and the Arranger, provided, that in connection with any workout or restructuring, the Borrower shall pay the fees and disbursements of one U.S. counsel for the Administrative Agent, the Arranger and the Lenders pursuant to this clause (b), and, in the case of an actual or perceived conflict of interest where the indemnified party affected by such conflict informs the Borrower of such conflict and thereafter, retains its own counsel, of another firm of counsel for such affected indemnified party, (c) to pay, indemnify, and hold each Lender and the Administrative Agent and each of their affiliates and their respective officer, directors, employees, agents and advisors (each, an “indemnified party”) harmless from, any and all recording and filing fees and any and all liabilities with respect to, or resulting from any delay in paying, stamp, excise and other similar taxes, if any, which may be payable or determined to be payable in connection with the execution and delivery of, or consummation or administration of any of the transactions contemplated by, or any amendment, supplement or modification of, or any waiver or consent under or in respect of, this Agreement, the other Loan Documents and any such other documents, and (d) to pay, indemnify, and hold each indemnified party harmless from and against any and all other liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses or disbursements of any kind or nature whatsoever incurred by any indemnified party or asserted against any indemnified party by any third party or by the Borrower or any of its Subsidiaries arising out of, in connection with or as a result of the Transactions (or any transactions related thereto), or the execution, delivery, enforcement, performance and administration of this Agreement, the other Loan Documents and such other documents, including, without limitation, any of the foregoing relating to the violation of, noncompliance with or liability under, any Environmental Law applicable to the operations of 

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the Borrower, any of its Subsidiaries or any of the Properties (all the foregoing in this clause (d), collectively, the “indemnified liabilities”), provided that the Borrower shall have no obligation hereunder to any indemnified party with respect to indemnified liabilities arising from the gross negligence or willful misconduct of such indemnified party determined in a court of competent jurisdiction in a final non-appealable judgment.  The agreements in this subsection shall survive repayment of the Loans and all other amounts payable hereunder and the termination of this Agreement.
13.6.    Successors and Assigns; Participations and Assignments.
(a)    This Agreement shall be binding upon and inure to the benefit of the Borrower, the Lenders, the Administrative Agent and their respective successors and assigns, except that the Borrower may not assign or transfer any of its rights or obligations under this Agreement without the prior written consent of each Lender.
(b)    Any Lender, other than a Conduit Lender, may, in the ordinary course of its commercial banking business and in accordance with applicable law, at any time sell to one or more banks or other entities (other than a Defaulting Lender, the Borrower or its Affiliates or Subsidiaries or any natural Person) (“Participants”) participating interests in any Loan owing to such Lender, any Term Loan Commitment of such Lender or any other interest of such Lender hereunder and under the other Loan Documents.  In the event of any such sale by a Lender of a participating interest to a Participant, such Lender’s obligations under this Agreement to the other parties to this Agreement shall remain unchanged, such Lender shall remain solely responsible for the performance thereof, such Lender shall remain the holder of any such Loan for all purposes under this Agreement and the other Loan Documents, and the Borrower and the Administrative Agent shall continue to deal solely and directly with such Lender in connection with such Lender’s rights and obligations under this Agreement and the other Loan Documents.  No Lender shall be entitled to create in favor of any Participant, in the participation agreement pursuant to which such Participant’s participating interest shall be created or otherwise, any right to vote on, consent to or approve any matter relating to this Agreement or any other Loan Document except for those specified in clauses (i) and (ii) of the proviso to subsection 13.1(a).  The Borrower agrees that if amounts outstanding under this Agreement are due or unpaid, or shall have been declared or shall have become due and payable upon the occurrence of an Event of Default, each Participant shall, to the maximum extent permitted by applicable law, be deemed to have the right of set-off in respect of its participating interest in amounts owing under this Agreement to the same extent as if the amount of its participating interest were owing directly to it as a Lender under this Agreement, provided that, in purchasing such participating interest, such Participant shall be deemed to have agreed to share with the Lenders the proceeds thereof as provided in subsection 13.7(a) as fully as if it were a Lender hereunder.  The Borrower also agrees that each Participant shall be entitled to the benefits of subsections 3.9, 3.10 and 3.11 with respect to its participation in the Term Loan Commitments and the Loans outstanding from time to time as if it was a Lender; provided that, in the case of subsection 3.10, such Participant shall have complied with the requirements of said subsection, and provided, further, that no Participant shall be entitled to receive any greater amount pursuant to any such subsection than the transferor Lender would have been entitled to receive in respect of the amount of the participation transferred by such transferor Lender to such Participant had no such transfer occurred.  Each Lender that sells a participation, acting solely for this purpose as a non-fiduciary 

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agent of the Borrower, shall maintain a register on which it enters the name and address of each Participant and the principal amounts (and stated interest) of each Participant’s interest in the Loans or other obligations under this Agreement (the “Participant Register”); provided, that no Lender shall have any obligation to disclose all or any portion of the Participant Register to any Person (including the identity of any Participant or any information relating to a Participant’s interest in any Term Loan Commitments, Term Loans or its other Obligations under any Loan Document) except to the extent that such disclosure is necessary to establish that such Term Loan Commitment, Term Loan or other Obligation is in registered form under Section 5f.103-1(c) of the United States Treasury Regulations.  The entries in the Participant Register shall be conclusive, and such Lender, the Borrower and the Administrative Agent shall treat each person whose name is recorded in the Participant Register pursuant to the terms hereof as the owner of such participation for all purposes of this Agreement, notwithstanding notice to the contrary.  For the avoidance of doubt, the Administrative Agent (in its capacity as Administrative Agent) shall have no responsibility for maintaining a Participant Register.
(c)    Any Lender, other than a Conduit Lender, may, in the ordinary course of its commercial banking business and in accordance with applicable law, at any time and from time to time, assign (i) to any Lender or any Lender Affiliate with the consent (in each case, not to be unreasonably withheld, delayed or conditioned) of the Administrative Agent or (ii) with the consent of the Borrower (unless an Event of Default shall have occurred and be continuing) and the Administrative Agent (which consent in each case shall not be unreasonably withheld, delayed or conditioned), to an additional bank, financial institution, or other entity (an “Assignee”) all or any part of its rights and obligations under this Agreement and the other Loan Documents pursuant to an Assignment and Assumption, substantially in the form of Exhibit D, executed by such Assignee, such assigning Lender (and, in the case of an Assignee that is not a Lender or a Lender Affiliate, by the Administrative Agent) and delivered to the Administrative Agent for its acceptance and recording in the Register, provided that, except in the case of an assignment to a Lender or a Lender Affiliate or an assignment of the entire remaining amount of the assigning Lender’s Term Loan Commitments or Loans, the amount of the Term Loan Commitments or Loans of the assigning Lender subject to each such assignment (determined as of the date the Assignment and Assumption with respect to such assignment is delivered to the Administrative Agent) shall not be less than $5,000,000 (or such lesser amount as may be agreed to by the Borrower and the Administrative Agent), and provided further that no such assignment shall be made to (A) any Defaulting Lender or any of its Subsidiaries, (B) the Borrower or any of its Affiliates or Subsidiaries or (C) any natural person.  Upon such execution, delivery, acceptance and recording, from and after the effective date determined pursuant to such Assignment and Assumption, (x) the Assignee thereunder shall be a party hereto and, to the extent provided in such Assignment and Assumption, have the rights and obligations of a Lender hereunder with Term Loan Commitments as set forth therein, and (y) the assigning Lender thereunder shall, to the extent provided in such Assignment and Assumption, be released from its obligations under this Agreement (and, in the case of an Assignment and Assumption covering all or the remaining portion of an assigning Lender’s rights and obligations under this Agreement, such assigning Lender shall cease to be a party hereto but shall continue to be entitled to the indemnity and expense reimbursement provisions in the Loan Documents arising out of the period prior to the assignment).  Notwithstanding the foregoing, any Conduit Lender may assign at any time to its designating Lender hereunder without the consent of the Borrower 

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or the Administrative Agent any or all of the Loans it may have funded hereunder and pursuant to its designation agreement and without regard to the limitations set forth in the first sentence of this subsection 13.6(c).
(d)    The Administrative Agent, acting for this purpose as a non-fiduciary agent of the Borrower, shall maintain at the address of the Administrative Agent referred to in subsection 13.2 a copy of each Assignment and Assumption delivered to it and a register (the “Register”) for the recordation of the names and addresses of the Lenders and the Term Loan Commitments of, and principal amount (and stated interest) of the Loans owing to, each Lender from time to time.  The entries in the Register shall be conclusive, in the absence of manifest error, and the Borrower, the Administrative Agent and the Lenders shall treat each Person whose name is recorded in the Register as the owner of a Loan or other obligation hereunder as the owner thereof for all purposes of this Agreement and the other Loan Documents, notwithstanding any notice to the contrary.  Any assignment of any Loan or other obligation hereunder not evidenced by a Note shall be effective only upon appropriate entries with respect thereto being made in the Register. In addition, the Administrative Agent shall maintain on the Register information regarding the designation, and revocation of designation, of any Lender as a Defaulting Lender. The Register shall be available for inspection by the Borrower or any Lender at any reasonable time and from time to time upon reasonable prior notice.
(e)    Upon its receipt of an Assignment and Assumption executed by an assigning Lender and an Assignee (and, in the case of an Assignee that is not then a Lender or a Lender Affiliate, by the Borrower (if required) and the Administrative Agent) together with payment to the Administrative Agent of a registration and processing fee of $4,000, the Administrative Agent shall (i) promptly accept such Assignment and Assumption and (ii) on the effective date determined pursuant thereto record the information contained therein in the Register and give notice of such acceptance and recordation to the Lenders and the Borrower; provided that the Administrative Agent may, in its sole discretion, elect to waive such registration and processing fee in the case of any assignment.
(f)    The Borrower authorizes each Lender to disclose to any Participant or Assignee (each, a “Transferee”) and any prospective Transferee, subject to the provisions of subsection 13.14, any and all financial information in such Lender’s possession concerning the Borrower and its Affiliates which has been delivered to such Lender by or on behalf of the Borrower pursuant to this Agreement or which has been delivered to such Lender by or on behalf of the Borrower in connection with such Lender’s credit evaluation of the Borrower and its Affiliates prior to becoming a party to this Agreement.
(g)    For avoidance of doubt, the parties to this Agreement acknowledge that the provisions of this subsection concerning assignments of Loans and Notes relate only to absolute assignments and that such provisions do not prohibit assignments creating security interests, including, without limitation, any pledge or assignment by a Lender of any Loan or Note to any Federal Reserve Bank or any central bank having jurisdiction over such Lender in accordance with applicable law.
(h)    In connection with any assignment of rights and obligations of any Defaulting Lender hereunder, no such assignment shall (unless otherwise agreed by the Borrower and the 

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Administrative Agent) 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 the 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 or any Lender hereunder (and interest accrued thereon) and (y) acquire (and fund as appropriate) its full pro rata share of all applicable Loans.  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.
13.7.    Adjustments; Set-off.
(a)    If any Lender (a “benefited Lender”) shall at any time receive any payment of all or part of its Loans then due and owing, or interest thereon, or receive any collateral in respect thereof (whether voluntarily or involuntarily, by set-off, pursuant to events or proceedings of the nature referred to in subsection 10(f), or otherwise), in a greater proportion than any such payment to or collateral received by any other Lender (other than to the extent expressly provided herein or by court order), if any, in respect of such other Lender’s Loans then due and owing, or interest thereon, such benefited Lender shall purchase for cash from the other Lenders a participating interest in such portion of each such other Lender’s Loans, or shall provide such other Lenders with the benefits of any such collateral, or the proceeds thereof, as shall be necessary to cause such benefited Lender to share the excess payment or benefits of such collateral or proceeds ratably with each of the Lenders; provided, however, that if all or any portion of such excess payment or benefits is thereafter recovered from such benefited Lender, such purchase shall be rescinded, and the purchase price and benefits returned, to the extent of such recovery, but without interest; and provided further 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 subsection 2.6 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 and the Lenders, and (y) the 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.
(b)    In addition to any rights and remedies of the Lenders provided by law, each Lender shall have the right, without prior notice to the Borrower, any such notice being expressly waived by the Borrower to the extent permitted by applicable law, upon any amount becoming due and payable by the Borrower hereunder (whether at the stated maturity, by acceleration or otherwise) to set-off and appropriate and apply against such amount any and all deposits (general or special, time or demand, provisional or final), in any currency, and any other credits, indebtedness or claims, in any currency, in each case whether direct or indirect, absolute or 

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contingent, matured or unmatured, at any time held or owing by such Lender or any Affiliate, branch or agency thereof to or for the credit or the account of the Borrower.  Each Lender agrees promptly to notify the Borrower and the Administrative Agent after any such set-off and application made by such Lender, provided that the failure to give such notice shall not affect the validity of such set-off and application.
13.8.    Counterparts.  This Agreement may be executed by one or more of the parties to this Agreement on any number of separate counterparts (including by facsimile transmission or in electronic (i.e., “pdf” or “tif”) format), and all of said counterparts taken together shall be deemed to constitute one and the same instrument.  A set of the copies of this Agreement signed by all the parties shall be lodged with the Borrower and the Administrative Agent.
13.9.    Severability.  Any provision of this Agreement which is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. Without limiting the foregoing provisions of this subsection 13.9, if and to the extent that the enforceability of any provisions in this Agreement relating to Defaulting Lenders shall be limited by Debtor Relief Laws or a Bail-In Action, as determined in good faith by the Administrative Agent, then such provisions shall be deemed to be in effect only to the extent not so limited.
13.10.    Integration.  This Agreement and the other Loan Documents represent the agreement of the Borrower, the Administrative Agent and the Lenders with respect to the subject matter hereof, and there are no promises, undertakings, representations or warranties by the Administrative Agent or any Lender relative to subject matter hereof not expressly set forth or referred to herein or in the other Loan Documents.
13.11.    GOVERNING LAW.  THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK.
13.12.    Submission To Jurisdiction and Waivers; . The Borrower hereby irrevocably and unconditionally:
(a)    submits for itself and its property in any legal action or proceeding relating to this Agreement and the other Loan Documents to which it is a party, or for recognition and enforcement of any judgment in respect thereof, to the exclusive general jurisdiction of the Courts of the State of New York sitting in New York County, Borough of Manhattan, the courts of the United States of America for the Southern District of New York, and appellate courts from any thereof;
(b)    consents that any such action or proceeding may be brought in such courts and waives any objection that it may now or hereafter have to the venue of any such action or proceeding in any such court or that such action or proceeding was brought in an inconvenient court and agrees not to plead or claim the same;

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(c)    agrees that service of process in any such action or proceeding may be effected by mailing a copy thereof by registered or certified mail (or any substantially similar form of mail), postage prepaid, to the Borrower at its address set forth in subsection 13.2 or at such other address of which the Administrative Agent shall have been notified pursuant thereto;
(d)    agrees that nothing herein shall affect the right to effect service of process in any other manner permitted by law or shall limit the right to sue in any other jurisdiction; and
(e)    waives, to the maximum extent not prohibited by law, any right it may have to claim or recover in any legal action or proceeding referred to in this subsection any special, exemplary, punitive or consequential damages.
13.13.    Acknowledgements.  The Borrower hereby acknowledges that:
(a)    it has been advised by counsel in the negotiation, execution and delivery of this Agreement and the other Loan Documents;
(b)    neither the Administrative Agent nor any Lender has any fiduciary relationship with or duty to the Borrower arising out of or in connection with this Agreement or any of the other Loan Documents, and the relationship between the Administrative Agent and Lenders, on the one hand, and the Borrower, on the other hand, in connection herewith or therewith is solely that of debtor and creditor; and
(c)    no joint venture is created hereby or by the other Loan Documents or otherwise exists by virtue of the transactions contemplated hereby among the Lenders or among the Borrower and the Lenders.
13.14.    Confidentiality.  Each Lender agrees to keep confidential any Information (a) provided to it by or on behalf of the Borrower or any of its Subsidiaries pursuant to or in connection with this Agreement or (b) obtained by such Lender based on a review of the books and records of the Borrower or any of its Subsidiaries; provided that nothing herein shall prevent any Lender from disclosing any such Information (i) to the Administrative Agent or any other Lender, (ii) to any Transferee or prospective Transferee which receives such Information having been made aware of the confidential nature thereof and having agreed to abide by the provisions of this subsection 13.14, (iii) to its employees, directors, agents, attorneys, accountants and other professional advisors, and to its and its Affiliates’ respective employees, officers, directors, agents, attorneys, accountants and other professional advisors who are directed to be bound by the provisions of this subsection 13.14 and who have a need for such Information in connection with this Agreement or other transactions or proposed transactions with the Borrower, (iv) upon the request or demand of any Governmental Authority having jurisdiction or oversight over such Lender or in connection with any assignment or pledge permitted under subsection 13.6(g), (v) in response to any order of any court or other Governmental Authority or as may otherwise be required pursuant to any Requirement of Law, (vi) subject to an agreement to comply with the provisions of this subsection, to any actual or prospective counter-party (or its advisors) to any Hedge Agreement, (vii) which has been publicly disclosed other than in breach of this 

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Agreement, (viii) in connection with the exercise of any remedy hereunder, or (ix) with the written consent of either a Responsible Officer or the treasurer of the Borrower.
For purposes of this Section, “Information” means all information received from either Borrower or any Subsidiary relating to either Borrower or any Subsidiary or any of their respective businesses, other than any such information that is available to the Administrative Agent or any Lender on a nonconfidential basis prior to disclosure by the Borrower or any Subsidiary and other than information pertaining to this Agreement routinely provided by arrangers to data service providers, including league table providers, that serve the lending industry, provided that, in the case of information received from the Borrower or any Subsidiary after the date hereof, such information is clearly identified at the time of delivery as confidential.  Any Person required to maintain the confidentiality of Information as provided in this Section shall be considered to have complied with its obligation to do so if such Person has exercised the same degree of care to maintain the confidentiality of such Information as such Person would accord to its own confidential information.
Each of the Administrative Agent and the Lenders acknowledges that (a) the Information may include material non-public information concerning the Borrower or a Subsidiary, as the case may be, (b) it has developed compliance procedures regarding the use of material non-public information and (c) it will handle such material non-public information in accordance with applicable Law, including Federal and state securities laws.
13.15.    WAIVERS OF JURY TRIAL.  THE BORROWER, THE ADMINISTRATIVE AGENT AND THE LENDERS HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVE, TO THE FULLEST EXTENT PERMITTED BY LAW, TRIAL BY JURY IN ANY LEGAL ACTION OR PROCEEDING RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT AND FOR ANY COUNTERCLAIM THEREIN.
13.16.    USA Patriot Act Notice. Each Lender and the Administrative Agent (for itself and not on behalf of any Lender) hereby notifies the Borrower that pursuant to the requirements of the USA Patriot Act (Title III of Pub. L. 107-56 (signed into law October 26, 2001)) (the “Patriot Act”), it is required to obtain, verify and record information that identifies the Borrower which information includes the name and address of the Borrower and other information that will allow such Lender or the Administrative Agent, as applicable, to identify the Borrower in accordance with the Patriot Act.
13.17.    No Advisory or Fiduciary Responsibility. In connection with all aspects of each transaction contemplated hereby (including in connection with any amendment, waiver or other modification hereof or of any other Loan Document), the Borrower acknowledges and agrees, and acknowledges its Affiliates’ understanding, that: (a) (i) the arranging and other services regarding this Agreement provided by the Administrative Agent and the Arranger are arm’s-length commercial transactions between the Borrower and its Affiliates, on the one hand, and the Administrative Agent and the Arranger, on the other hand, (ii) the Borrower has consulted its own legal, accounting, regulatory and tax advisors to the extent it has deemed appropriate, and (iii) the Borrower is capable of evaluating, and understands and accepts, the terms, risks and conditions of the transactions contemplated hereby and by the other Loan Documents; (b) (i) the 

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Administrative Agent and the Arranger each is and has been acting solely as a principal and, except as expressly agreed in writing by the relevant parties, has not been, is not, and will not be acting as an advisor, agent or fiduciary for the Borrower or any of its respective Affiliates, or any other Person and (ii) neither the Administrative Agent nor the Arranger has any obligation to the Borrower or any of its respective Affiliates with respect to the transactions contemplated hereby except those obligations expressly set forth herein and in the other Loan Documents; and (c) the Administrative Agent and the Arranger and their respective Affiliates may be engaged in a broad range of transactions that involve interests that differ from those of the Borrower and its Affiliates, and neither the Administrative Agent nor the Arranger has any obligation to disclose any of such interests to the Borrower or any of its Affiliates. 
13.18.    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 the parties hereto, 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 Lender party hereto that is an EEA Financial Institution; and

		
	(b)
	the effects of any Bail-In Action on any such liability, including, if applicable:

		
	(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.

 [Signature Pages Follow]

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IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed and delivered by their proper and duly authorized officers as of the day and year first above written.
BOSTON SCIENTIFIC CORPORATION 
 
 
 
By:               /s/ Robert J. Castagna            
Name:    Robert J. Castagna 
Title:        Vice President and Treasurer 

Signature Page to
Boston Scientific 2018 364-Day Term Loan Credit Agreement

WELLS FARGO BANK, NATIONAL ASSOCIATION, 
as Administrative Agent 
 
 
 
By:               /s/ Darin Mullis                 
Name:         Darin Mullis 
Title:             Managing Director

WELLS FARGO BANK, NATIONAL ASSOCIATION, 
as a Lender 
 

 
By:               /s/ Darin Mullis                 
Name:         Darin Mullis 
Title:                Managing Director

Signature Page to
Boston Scientific 2018 364-Day Term Loan Credit Agreement

BANK OF AMERICA, N.A.,
as a Lender 
 
 

By:               /s/ Darren Merten                 
Name:         Darren Merten
Title:             Vice President

Signature Page to
Boston Scientific 2018 364-Day Term Loan Credit Agreement

MUFG BANK LTD.,
as a Lender 
 
 
 
By:               /s/ Kevin Wood                 
Name:         Kevin Wood
Title:             Director

Signature Page to
Boston Scientific 2018 364-Day Term Loan Credit Agreement

SUMITOMO MITSUI BANKING CORPORATION,
as a Lender 
 
 
 
By:               /s/ Katsuyuki Kubo              
Name:         Katsuyuki Kubo
Title:             Managing Director

Signature Page to
Boston Scientific 2018 364-Day Term Loan Credit Agreement

SCHEDULE I
NAMES AND COMMITMENTS OF LENDERS
	
				
	Name
	Term Loan Commitment

	Wells Fargo Bank, National Association
	

	$325,000,000
	

	Bank of America, N.A.
	

	$225,000,000
	

	MUFG Bank, Ltd.
	

	$225,000,000
	

	Sumitomo Mitsui Banking Corporation
	

	$225,000,000
	

	Total
	

	$1,000,000,000
	

Schedule 9.2
Existing Liens1 
	
							
	Entity
	State
	Jurisdiction
	UCC #
	Secured Party
	Amount of Obligation
	Description

	Boston Scientific Corporation
	DE
	SOS
	64509535 filed on 12/22/06 continued on 8/1/11 
Assignment to Wells Fargo Bank on 2/7/17 
Collateral restatement filed on 2/7/17 
Debtor address change filed on 2/7/17
	Wells Fargo Bank, National Association
	—
	Certain accounts receivable and related property relating to Company’s receivables facility

	Boston Scientific Funding  LLC
	DE
	SOS
	64510137 filed on 12/22/06 continued on 8/1/11 
Assignment to Wells Fargo Bank on 2/7/17 
Collateral restatement filed on 2/7/17 
Debtor address change filed on 2/7/17
	Wells Fargo Bank, National Association
	—
	Certain accounts receivable and related property relating to Company’s receivables facility

________________
1  Liens with respect to equipment leases are set forth on an Annex on file with the Administrative Agent.

Schedule 9.5
Existing Subsidiary Indebtedness
	
					
	($ in thousands)
	 
	 
	 
	 

	 
	Subsidiary
	Lender
	Maturity
	Amount

	 
	Boston Scientific Japan K.K.
	Sanritsu Corporation
	October 2030
	7,349

	 
	Boston Scientific SA France
	BNP Paribas Factor S.A.
	Revolving
	3,948

	 
	Boston Scientific Benelux NV
	BNP Paribas Factor S.A.
	Revolving
	96

	 
	Various
	Various
	Revolving
	945

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