Document:

Exhibit
10(n)

 

AMENDED
AND RESTATED LONG-TERM CREDIT AGREEMENT

 

DATED AS
OF APRIL 29, 2008

 

AMONG

 

BEMIS
COMPANY, INC.,

 

VARIOUS
SUBSIDIARIES THEREOF,

 

THE
LENDERS PARTY HERETO,

 

JPMORGAN
CHASE BANK, NATIONAL ASSOCIATION,

AS ADMINISTRATIVE AGENT,

 

WACHOVIA
BANK, N.A.,

AS SYNDICATION AGENT,

 

AND

 

U.S. BANK
NATIONAL ASSOCIATION

AND

WELLS
FARGO BANK, N.A.,

AS
CO-DOCUMENTATION AGENTS

 

 

J.P.
MORGAN SECURITIES INC.

AND

WACHOVIA
CAPITAL MARKETS, LLC

CO-LEAD ARRANGERS AND JOINT BOOK RUNNERS

 

 

CONTENTS

 

	
  Clause

  	
   

  	
  Subject Matter

  	
   

  	
  Page

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE I

  	
   

  	
  DEFINITIONS AND INTERPRETATION

  	
   

  	
  1

  
	
  1.1.

  	
   

  	
  Definitions

  	
   

  	
  1

  
	
  1.2.

  	
   

  	
  Interpretation

  	
   

  	
  13

  
	
  ARTICLE II

  	
   

  	
  THE CREDITS

  	
   

  	
  13

  
	
  2.1.

  	
   

  	
  Commitment

  	
   

  	
  13

  
	
  2.2.

  	
   

  	
  Determination
  of Dollar Amounts

  	
   

  	
  14

  
	
  2.3.

  	
   

  	
  Ratable
  Loans

  	
   

  	
  14

  
	
  2.4.

  	
   

  	
  Types of Advances

  	
   

  	
  14

  
	
  2.5.

  	
   

  	
  Fees;
  Changes in Aggregate Commitment

  	
   

  	
  14

  
	
  2.6.

  	
   

  	
  Minimum
  Amount of Each Advance

  	
   

  	
  15

  
	
  2.7.

  	
   

  	
  Payments and
  Prepayments

  	
   

  	
  15

  
	
  2.8.

  	
   

  	
  Method of
  Selecting Types and Interest Periods for New Advances

  	
   

  	
  16

  
	
  2.9.

  	
   

  	
  Conversion
  and Continuation of Outstanding Advances

  	
   

  	
  16

  
	
  2.10.

  	
   

  	
  Method of
  Borrowing

  	
   

  	
  17

  
	
  2.11.

  	
   

  	
  Changes in
  Interest Rate, etc.

  	
   

  	
  18

  
	
  2.12.

  	
   

  	
  Rates
  Applicable After Default

  	
   

  	
  18

  
	
  2.13.

  	
   

  	
  Method of
  Payment

  	
   

  	
  18

  
	
  2.14.

  	
   

  	
  Noteless
  Agreement; Evidence of Indebtedness

  	
   

  	
  19

  
	
  2.15.

  	
   

  	
  Telephonic
  Notices

  	
   

  	
  19

  
	
  2.16.

  	
   

  	
  Interest
  Payment Dates; Interest and Fee Basis

  	
   

  	
  20

  
	
  2.17.

  	
   

  	
  Notification
  of Advances, Interest Rates, Prepayments and Commitment Reductions

  	
   

  	
  20

  
	
  2.18.

  	
   

  	
  Letters of
  Credit

  	
   

  	
  20

  
	
  2.19.

  	
   

  	
  Lending
  Installations

  	
   

  	
  24

  
	
  2.20.

  	
   

  	
  Non-Receipt
  of Funds by the Administrative Agent

  	
   

  	
  25

  
	
  2.21.

  	
   

  	
  Market
  Disruption

  	
   

  	
  25

  
	
  2.22.

  	
   

  	
  Judgment
  Currency

  	
   

  	
  26

  
	
  2.23.

  	
   

  	
  Borrowing
  Subsidiaries; Company as agent for Borrowing Subsidiaries

  	
   

  	
  26

  
	
  2.24.

  	
   

  	
  Effect of
  Participation Funding Notice

  	
   

  	
  27

  
	
  2.25.

  	
   

  	
  Funding of
  Participations in Dollars

  	
   

  	
  28

  
	
  ARTICLE III

  	
   

  	
  YIELD PROTECTION; TAXES

  	
   

  	
  28

  
	
  3.1.

  	
   

  	
  Yield
  Protection

  	
   

  	
  28

  

 

i

 

	
  Clause

  	
   

  	
  Subject Matter

  	
   

  	
  Page

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  3.2.

  	
   

  	
  Availability
  of Types of Advances

  	
   

  	
  29

  
	
  3.3.

  	
   

  	
  Funding
  Indemnification

  	
   

  	
  29

  
	
  3.4.

  	
   

  	
  Taxes

  	
   

  	
  30

  
	
  3.5.

  	
   

  	
  Lender
  Statements; Survival of Indemnity

  	
   

  	
  31

  
	
  ARTICLE IV

  	
   

  	
  CONDITIONS PRECEDENT

  	
   

  	
  32

  
	
  4.1.

  	
   

  	
  Effectiveness

  	
   

  	
  32

  
	
  4.2.

  	
   

  	
  Each Credit
  Extension

  	
   

  	
  33

  
	
  4.3.

  	
   

  	
  Initial
  Loans to a Borrowing Subsidiary

  	
   

  	
  33

  
	
  ARTICLE V

  	
   

  	
  REPRESENTATIONS AND WARRANTIES

  	
   

  	
  34

  
	
  5.1.

  	
   

  	
  Corporate
  Existence and Power

  	
   

  	
  34

  
	
  5.2.

  	
   

  	
  Corporate
  Authorization

  	
   

  	
  34

  
	
  5.3.

  	
   

  	
  Binding
  Effect

  	
   

  	
  34

  
	
  5.4.

  	
   

  	
  Financial
  Statements

  	
   

  	
  34

  
	
  5.5.

  	
   

  	
  Litigation
  and Contingent Liabilities

  	
   

  	
  35

  
	
  5.6.

  	
   

  	
  Taxes

  	
   

  	
  35

  
	
  5.7.

  	
   

  	
  Governmental
  and other Approvals

  	
   

  	
  35

  
	
  5.8.

  	
   

  	
  Compliance with
  ERISA

  	
   

  	
  35

  
	
  5.9.

  	
   

  	
  Environmental
  Matters

  	
   

  	
  35

  
	
  5.10.

  	
   

  	
  Ownership of
  Properties; Liens

  	
   

  	
  36

  
	
  5.11.

  	
   

  	
  Subsidiaries

  	
   

  	
  36

  
	
  5.12.

  	
   

  	
  Investment
  Company Act

  	
   

  	
  36

  
	
  5.13.

  	
   

  	
  Regulation U

  	
   

  	
  36

  
	
  5.14.

  	
   

  	
  Accuracy of
  Disclosure

  	
   

  	
  36

  
	
  5.15.

  	
   

  	
  No
  Burdensome Restrictions

  	
   

  	
  36

  
	
  ARTICLE VI

  	
   

  	
  COVENANTS

  	
   

  	
  36

  
	
  6.1.

  	
   

  	
  Financial
  Statements

  	
   

  	
  36

  
	
  6.2.

  	
   

  	
  Maintenance
  of Existence

  	
   

  	
  38

  
	
  6.3.

  	
   

  	
  Books and
  Records; Maintenance of Properties; Inspections

  	
   

  	
  38

  
	
  6.4.

  	
   

  	
  Compliance
  with Laws and Contractual Obligations

  	
   

  	
  38

  
	
  6.5.

  	
   

  	
  Notice of
  Proceedings

  	
   

  	
  38

  
	
  6.6.

  	
   

  	
  Use of
  Proceeds

  	
   

  	
  39

  
	
  6.7.

  	
   

  	
  Payment of
  Taxes

  	
   

  	
  39

  

 

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  Clause

  	
   

  	
  Subject Matter

  	
   

  	
  Page

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  6.8.

  	
   

  	
  Insurance

  	
   

  	
  39

  
	
  6.9.

  	
   

  	
  Maximum
  Consolidated Debt to Total Capital Ratio

  	
   

  	
  39

  
	
  6.10.

  	
   

  	
  Minimum
  Consolidated Net Worth

  	
   

  	
  39

  
	
  6.11.

  	
   

  	
  Liens

  	
   

  	
  39

  
	
  6.12.

  	
   

  	
  Consolidations,
  Mergers and Sales of Assets

  	
   

  	
  40

  
	
  6.13.

  	
   

  	
  Transactions
  with Affiliates

  	
   

  	
  40

  
	
  6.14.

  	
   

  	
  Business

  	
   

  	
  40

  
	
  6.15.

  	
   

  	
  Burdensome
  Agreements

  	
   

  	
  40

  
	
  ARTICLE VII

  	
   

  	
  DEFAULTS

  	
   

  	
  40

  
	
  ARTICLE VIII

  	
   

  	
  ACCELERATION, WAIVERS, AMENDMENTS AND REMEDIES

  	
   

  	
  43

  
	
  8.1.

  	
   

  	
  Acceleration

  	
   

  	
  43

  
	
  8.2.

  	
   

  	
  Amendments

  	
   

  	
  43

  
	
  8.3.

  	
   

  	
  Preservation
  of Rights

  	
   

  	
  44

  
	
  ARTICLE IX

  	
   

  	
  GENERAL PROVISIONS

  	
   

  	
  44

  
	
  9.1.

  	
   

  	
  Survival of
  Representations

  	
   

  	
  44

  
	
  9.2.

  	
   

  	
  Governmental
  Regulation

  	
   

  	
  44

  
	
  9.3.

  	
   

  	
  Headings

  	
   

  	
  44

  
	
  9.4.

  	
   

  	
  Entire
  Agreement

  	
   

  	
  44

  
	
  9.5.

  	
   

  	
  Several
  Obligations; Benefits of this Agreement

  	
   

  	
  44

  
	
  9.6.

  	
   

  	
  Expenses;
  Indemnification

  	
   

  	
  45

  
	
  9.7.

  	
   

  	
  Numbers of
  Documents

  	
   

  	
  45

  
	
  9.8.

  	
   

  	
  Accounting

  	
   

  	
  46

  
	
  9.9.

  	
   

  	
  Severability
  of Provisions

  	
   

  	
  46

  
	
  9.10.

  	
   

  	
  Nonliability
  of Lenders

  	
   

  	
  46

  
	
  9.11.

  	
   

  	
  Confidentiality

  	
   

  	
  46

  
	
  9.12.

  	
   

  	
  Nonreliance

  	
   

  	
  47

  
	
  9.13.

  	
   

  	
  Disclosure

  	
   

  	
  47

  
	
  9.14.

  	
   

  	
  USA PATRIOT
  ACT NOTIFICATION

  	
   

  	
  47

  
	
  ARTICLE X

  	
   

  	
  THE ADMINISTRATIVE AGENT

  	
   

  	
  48

  
	
  10.1.

  	
   

  	
  Appointment;
  Nature of Relationship

  	
   

  	
  48

  
	
  10.2.

  	
   

  	
  Powers

  	
   

  	
  48

  
	
  10.3.

  	
   

  	
  General
  Immunity

  	
   

  	
  48

  
	
  10.4.

  	
   

  	
  No
  Responsibility for Loans, Recitals, etc.

  	
   

  	
  49

  

 

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  Page

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  10.5.

  	
   

  	
  Action on
  Instructions of Lenders

  	
   

  	
  49

  
	
  10.6.

  	
   

  	
  Employment
  of Agents and Counsel

  	
   

  	
  49

  
	
  10.7.

  	
   

  	
  Reliance on
  Documents; Counsel

  	
   

  	
  49

  
	
  10.8.

  	
   

  	
  Agent’s Reimbursement
  and Indemnification

  	
   

  	
  50

  
	
  10.9.

  	
   

  	
  Notice of
  Default

  	
   

  	
  50

  
	
  10.10.

  	
   

  	
  Rights as a
  Lender

  	
   

  	
  50

  
	
  10.11.

  	
   

  	
  Lender
  Credit Decision

  	
   

  	
  50

  
	
  10.12.

  	
   

  	
  Successor
  Agent

  	
   

  	
  51

  
	
  10.13.

  	
   

  	
  Agent and
  Arranger Fees

  	
   

  	
  52

  
	
  10.14.

  	
   

  	
  Delegation
  to Affiliates

  	
   

  	
  52

  
	
  10.15.

  	
   

  	
  Other Agents

  	
   

  	
  52

  
	
  ARTICLE XI

  	
   

  	
  SETOFF; RATABLE PAYMENTS

  	
   

  	
  52

  
	
  11.1.

  	
   

  	
  Setoff

  	
   

  	
  52

  
	
  11.2.

  	
   

  	
  Sharing of
  Payments

  	
   

  	
  52

  
	
  ARTICLE XII

  	
   

  	
  ASSIGNMENTS; PARTICIPATIONS; ETC.

  	
   

  	
  53

  
	
  12.1.

  	
   

  	
  Successors
  and Assigns

  	
   

  	
  53

  
	
  12.2.

  	
   

  	
  Dissemination
  of Information

  	
   

  	
  56

  
	
  12.3.

  	
   

  	
  Tax
  Treatment

  	
   

  	
  56

  
	
  ARTICLE XIII

  	
   

  	
  NOTICES

  	
   

  	
  56

  
	
  13.1.

  	
   

  	
  Notices;
  Effectiveness; Electronic Communication

  	
   

  	
  56

  
	
  ARTICLE XIV

  	
   

  	
  COUNTERPARTS; EFFECT OF RESTATEMENT;
  ELECTRONIC EXECUTION

  	
   

  	
  57

  
	
  14.1.

  	
   

  	
  Counterparts

  	
   

  	
  57

  
	
  14.2.

  	
   

  	
  Effect of
  Restatement

  	
   

  	
  57

  
	
  14.3.

  	
   

  	
  Electronic
  Execution of Assignments

  	
   

  	
  58

  
	
  ARTICLE XV

  	
   

  	
  GUARANTY BY THE COMPANY

  	
   

  	
  58

  
	
  15.1.

  	
   

  	
  Guaranty

  	
   

  	
  58

  
	
  15.2.

  	
   

  	
  Guaranty
  Unconditional

  	
   

  	
  58

  
	
  15.3.

  	
   

  	
  Discharge
  only upon Payment in Full; Reinstatement in Certain Circumstances

  	
   

  	
  59

  
	
  15.4.

  	
   

  	
  Waiver by
  the Company

  	
   

  	
  59

  
	
  15.5.

  	
   

  	
  Subrogation

  	
   

  	
  59

  
	
  15.6.

  	
   

  	
  Stay of
  Acceleration

  	
   

  	
  59

  
	
  ARTICLE XVI

  	
   

  	
  CHOICE OF LAW; CONSENT TO JURISDICTION;
  WAIVER OF JURY TRIAL

  	
   

  	
  59

  

 

iv

 

	
  Clause

  	
   

  	
  Subject Matter

  	
   

  	
  Page

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  16.1.

  	
   

  	
  CHOICE OF
  LAW

  	
   

  	
  59

  
	
  16.2.

  	
   

  	
  CONSENT TO
  JURISDICTION

  	
   

  	
  60

  
	
  16.3.

  	
   

  	
  WAIVER OF
  JURY TRIAL

  	
   

  	
  60

  

 

PRICING SCHEDULE

 

	
  EXHIBIT A

  	
  COMPLIANCE
  CERTIFICATE

  
	
  EXHIBIT B

  	
  ASSIGNMENT
  AND ASSUMPTION

  
	
  EXHIBIT C

  	
  BORROWING
  SUBSIDIARY CONFIRMATION

  
	
  EXHIBIT D

  	
  ASSOCIATED
  COSTS RATE

  
	
  EXHIBIT E

  	
  INCREASE
  REQUEST

  
	
  EXHIBIT F-1

  	
  BORROWING
  SUBSIDIARY AGREEMENT

  
	
  EXHIBIT F-2

  	
  BORROWING
  SUBSIDIARY TERMINATION

  

 

v

 

EXECUTION VERSION

 

AMENDED
AND RESTATED LONG-TERM CREDIT AGREEMENT

 

This Amended
and Restated Long-Term Credit Agreement dated as of April 29, 2008 is
among Bemis Company, Inc., a Missouri corporation (together with its
successors and assigns, the “Company”), the subsidiaries of the Company
which from time to time become parties hereto pursuant to Section 2.23
(each a “Borrowing Subsidiary” and collectively the “Borrowing
Subsidiaries”), the Lenders, Wachovia Bank, N.A., as Syndication Agent,
U.S. Bank National Association and Wells Fargo Bank, N.A., as Co-Documentation
Agents, and JPMorgan Chase Bank, National Association (“JPMCB”), as Administrative
Agent.

 

The Company,
certain lenders and JPMCB (as successor to Bank One, NA) are parties to a
credit agreement dated as of September 2, 2004 (the “Existing Agreement”);
and

 

The parties
hereto have agreed to amend and restate the Existing Agreement pursuant to this
Agreement and the 364-Day Credit Agreement (as defined below);

 

Accordingly,
the parties hereto agree as follows:

 

ARTICLE I

DEFINITIONS AND INTERPRETATION

 

1.1.          Definitions.  As used in this Agreement:

 

“364-Day Credit Agreement” shall mean the Amended and Restated 364-Day
Credit Agreement dated as of April 29, 2008 among the Borrowers, the
Lenders, Wachovia Bank, N.A., as Syndication Agent, U.S. Bank National
Association and Wells Fargo Bank, N.A., as Co-Documentation Agents, and the
Administrative Agent.

 

“Administrative
Agent” means JPMCB, together with its affiliates, in its capacity as
contractual representative of the Lenders pursuant to Article X,
and not in its individual capacity as a Lender, and any successor
Administrative Agent appointed pursuant to Article X; it being
understood that matters concerning Loans denominated in British Pounds
Sterling, Euro and certain other Agreed Currencies may be administered by
JPMEL.

 

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

 

“Advance”
means a Domestic Advance or a Multicurrency Advance, as the context requires.

 

“Affiliate” of
any Person means any other Person directly or indirectly controlling,
controlled by or under common control with such Person.  A Person shall be deemed to control another
Person if the controlling Person owns 10% or more of any class of voting
securities (or other ownership interests) of the controlled Person or
possesses, directly or indirectly, the power to direct or cause the direction
of the management or policies of the controlled Person, whether through
ownership of stock, by contract or otherwise.

 

1

 

“Aggregate
Commitment” means the aggregate of the Commitments of all the Lenders, as
changed from time to time pursuant to the terms hereof.

 

“Aggregate
Outstanding Credit Exposure” means, at any time, the aggregate of the
Outstanding Credit Exposure of all Lenders.

 

“Agreed
Currencies” means (i) Dollars, (ii) so long as such currencies remain
Eligible Currencies, British Pounds Sterling and Euro and (iii) any other
Eligible Currency that a Borrower requests the Administrative Agent to include
as an Agreed Currency hereunder and which is acceptable to all Lenders (or, in
the case of Loans to any Borrowing Subsidiary, all Lenders that have agreed to
make Loans to such Borrowing Subsidiary).

 

“Agreement”
means this Amended and Restated Long-Term Credit Agreement.

 

“Alternate
Base Rate” means, for any day, a rate of interest per annum equal to the
highest of (i) the Prime Rate for such day and (ii) the sum of the
Federal Funds Effective Rate for such day plus 1/2% per annum.

 

“Applicable
Margin” means, with respect to Advances of any Type at any time, the percentage
rate per annum which is applicable at such time with respect to Advances of
such Type as set forth in the Pricing Schedule.

 

“Approximate
Equivalent Amount” of any currency with respect to any amount of Dollars shall
mean the Equivalent Amount of such currency with respect to such amount of
Dollars on or as of such date, rounded up to the nearest amount of such
currency as determined by the Administrative Agent from time to time.

 

“Arrangers”
means JPMorgan and Wachovia, Capital Markets, LLC and their respective
successors, in their capacities as Co-Lead Arrangers and Joint Book Runners.

 

“Assignment
and Assumption” means an assignment and assumption entered into by a Lender and
an assignee (with the consent of any party whose consent is required by Section 12.1(b)),
and accepted by the Administrative Agent, in the form of Exhibit B
or any other form approved by the Administrative Agent.

 

“Associated
Costs Rate” is defined in Exhibit D.

 

“Authorized
Officer” means any of the chief executive officer, the chief financial officer,
any vice president, the controller or the treasurer of the Company, or any
other officer of the Company from time to time designated by any of the
foregoing officers of the Company, in each case acting singly.

 

“Borrower”
means any of the Company and the Borrowing Subsidiaries.

 

“Borrowing
Date” means a date on which an Advance is made hereunder.

 

“Borrowing
Notice” is defined in Section 2.8.

 

2

 

“Borrowing
Subsidiary” is defined in the preamble.

 

“Borrowing
Subsidiary Agreement” means an agreement substantially in the form of Exhibit F-1.

 

“BSub
Commitment” means, for any Lender with respect to any Borrowing Subsidiary, the
obligation of such Lender to make Multicurrency Loans to such Borrowing
Subsidiary.  The amount of the BSub
Commitment of any Lender to any Borrowing Subsidiary shall be equal to such
Lender’s Pro Rata Share of the Aggregate Commitment (or such lesser amount as
may be permitted by this Agreement or the applicable Borrowing Subsidiary
Agreement); provided that if, pursuant to the applicable Borrowing
Subsidiary Agreement, one or more Lenders will not make Loans to such Borrowing
Subsidiary, then the BSub Commitment of any Lender with respect to such Borrowing
Subsidiary shall be the amount set forth on Attachment 1 to such Borrowing
Subsidiary Agreement.  Each BSub
Commitment of any Lender is a sublimit of the Commitment of such Lender and not
a separate commitment.

 

“BSub Lender”
means, with respect to any Borrowing Subsidiary, each Lender (excluding any
Lender that, pursuant to Section 2.23 and the applicable Borrowing
Subsidiary Agreement, will not make Loans to such Borrowing Subsidiary) and the
successors and assigns of such Lender in such capacity.  Any Lender may designate an affiliate of such
Lender to perform all obligations, and have all rights, of such Lender
hereunder in respect of some or all of any BSub Commitment, in which case
references herein to a “BSub Lender” shall, where appropriate, mean such
designated affiliate.  Any such
designation shall be made either (a) by causing such affiliate to execute
a signature page of the applicable Borrowing Subsidiary Agreement or (b) by
written notice to the Company and the Administrative Agent (including any
notice changing the designation of such Lender’s affiliate that will act as a
BSub Lender).

 

“BSub
Percentage” means, for any Lender with respect to any Borrowing Subsidiary on
any date of determination, the percentage which the amount of such Lender’s
BSub Commitment with respect to such Borrowing Subsidiary is of the aggregate
amount of all BSub Commitments with respect to such Borrowing Subsidiary (or,
if the Commitments have terminated, which (a) the aggregate outstanding
principal amount of such Lender’s Loans to such Borrowing Subsidiary is of (b) the
aggregate outstanding principal amount of all Loans to such Borrowing
Subsidiary).

 

“Business Day”
means a day (other than a Saturday or Sunday) on which banks generally are open
in Chicago and New York City for the conduct of substantially all of their
commercial lending activities and interbank wire transfers can be made on the
Fedwire system and (i) if such day relates to any interest rate
setting as to a Eurocurrency Loan denominated in Euro, any funding,
disbursement, settlement or payment in Euro, or any other dealings in Euro to
be carried out pursuant to this Agreement, a day on which banks in London are
open for general banking business, including dealings in foreign currency and
exchange, and on which the Trans-European Automated Real-time Gross Settlement
Express Transfer (TARGET) payment system (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; and (ii) if such day relates to an interest rate
setting as to a Eurocurrency Loan denominated in Dollars or any other Agreed
Currency (other than Euro), any funding,

 

3

 

disbursement,
settlement or payment in any such currency, or any other dealings in any such
currency to be carried out pursuant to this Agreement, a day on which dealings
in such currency are carried on in the London interbank market.

 

“Capitalized
Lease” of a Person means any lease of Property by such Person as lessee which
would be capitalized on a balance sheet of such Person prepared in accordance
with GAAP.

 

“Capitalized
Lease Obligations” of a Person means the amount of the obligations of such
Person under Capitalized Leases which would be shown as a liability on a
balance sheet of such Person prepared in accordance with GAAP.

 

“Change in
Control” means the occurrence of any of the following events:  (x) any “person” or “group” (within the
meaning of Section 13 or 14 of the Securities Exchange Act of 1934 (the “Exchange
Act”) becomes the beneficial owner (as defined in Rule 13d 3 under the
Exchange Act) of 30% or more of the fully diluted Voting Securities of the
Company or (y) individuals who at the beginning of any period of two
consecutive calendar years constituted the board of directors of the Company
(together with any new directors whose election by the board of directors of
the Company or whose nomination for election by the Company’s shareholders was
approved by the members of the board of directors of the Company then still in
office who either were members of the board of directors of the Company at the
beginning of such period or whose election or nomination for election was
previously so approved) cease for any reason to constitute a majority of the
members of the board of directors of the Company.

 

“Code” means
the Internal Revenue Code of 1986.

 

“Commitment”
means, for each Lender, the obligation of such Lender to make Loans and to
participate in Letters of Credit in an aggregate amount not exceeding the
amount set forth opposite its signature below, as it may be modified as a
result of any assignment that has become effective pursuant to Section 12.1
or as otherwise modified from time to time pursuant to the terms hereof.

 

“Company” is
defined in the preamble.

 

“Computation
Date” is defined in Section 2.2.

 

“Consolidated
Debt” means, at any time, the consolidated Debt of the Company and its
Consolidated Subsidiaries at such time.

 

“Consolidated
Net Worth” means, at any time, the consolidated stockholders’ equity of the
Company and its Consolidated Subsidiaries at such time.

 

“Consolidated
Subsidiary” means any Subsidiary or other entity the accounts of which would be
consolidated with those of the Company in its consolidated financial
statements.

 

“Controlled
Group” means all members of a controlled group of corporations or other
business entities and all trades or businesses (whether or not incorporated)
under common

 

4

 

control which,
together with the Company or any of its Subsidiaries, are treated as a single
employer under Section 414 of the Code.

 

“Conversion/Continuation
Notice” is defined in Section 2.9.

 

“Credit
Extension” means the making of an Advance or the issuance of a Letter of
Credit.

 

“Debt” of any
Person means, without duplication, (i) all obligations of such Person for
borrowed money, (ii) all obligations of such Person evidenced by bonds,
debentures, notes or other similar instruments, (iii) all obligations of
such Person to pay the deferred purchase price of property or services, except
trade accounts payable arising in the ordinary course of business, (iv) all
Capitalized Lease Obligations of such Person, (v) all obligations of such
Person to reimburse or indemnify the issuer of a letter of credit or Guarantee
for drawings or payments thereunder, (vi) all Debt of others secured by a
Lien on any asset of such Person, whether or not such Debt is assumed by such Person,
and (vii) all Debt of others Guaranteed by such Person.

 

“Default”
means an event described in Article VII.

 

“Dollar Amount”
of any currency at any date shall mean (i) the amount of such currency if
such currency is Dollars or (ii) the equivalent in Dollars of such amount
if such currency is any currency other than Dollars, calculated on the basis of
the arithmetical mean of the buy and sell spot rates of exchange of the
Administrative Agent for such currency at 11:00 a.m., Local Time, on or as
of the most recent Computation Date provided for in Section 2.2.

 

“Dollars” and “$”
shall mean the lawful currency of the United States of America.

 

“Domestic
Advance” means a borrowing in Dollars by the Company hereunder (i) made by
the Lenders on the same Borrowing Date or (ii) converted or continued by
the Lenders on the same date of conversion or continuation, consisting, in
either case, of the aggregate amount of the several Loans of the same Type and,
in the case of Eurocurrency Loans, having the same Interest Period.

 

“Domestic Loan”
means a Loan denominated in Dollars.

 

“Effective
Date” is defined in Section 4.1.

 

“Eligible
Currency” means any currency other than Dollars (i) that is readily
available, (ii) that is freely traded, (iii) in which deposits are
customarily offered to banks in the London interbank market, (iv) which is
convertible into Dollars in the international interbank market and (v) as
to which a Dollar Amount may be readily calculated.  If, after the designation of any currency as
an Agreed Currency, (x) currency control or other exchange regulations are
imposed in the country in which such currency is issued with the result that
different types of such currency are introduced, (y) such currency is, in
the determination of the Administrative Agent, no longer readily available or
freely traded or (z) in the determination of the Administrative Agent, an
Equivalent Amount of such currency is not readily calculable, the
Administrative Agent shall promptly notify the Lenders and the Company, and
such currency shall no longer be an Agreed Currency until such time as all of
the Lenders agree to reinstate such currency as an Agreed Currency and
promptly, but in any event within five Business Days of receipt of such

 

5

 

notice from
the Administrative Agent, each applicable Borrowing Subsidiary shall repay all
of its Loans in such affected currency or convert such Loans into Loans in
Dollars or another Agreed Currency, subject to the other terms set forth in Article II.

 

“Equivalent
Amount” of any currency with respect to any amount of Dollars at any date shall
mean the equivalent in such currency of such amount of Dollars, calculated on
the basis of the arithmetical mean of the buy and sell spot rates of exchange
of the Administrative Agent for such other currency at 11:00 a.m., Local
Time, on the date on or as of which such amount is to be determined.

 

“Environmental
Laws” means any and all federal, state, local and foreign statutes, laws,
judicial decisions, regulations, ordinances, rules, judgments, orders, decrees,
plans, injunctions, permits, concessions, grants, franchises, licenses,
agreements and other governmental restrictions relating to (i) the
protection of the environment, (ii) the effect of the environment on human
health, (iii) emissions, discharges or releases of pollutants,
contaminants, hazardous substances or wastes into surface water, ground water
or land, or (iv) the manufacture, processing, distribution, use,
treatment, storage, disposal, transport or handling of pollutants,
contaminants, hazardous substances or wastes or the clean-up or other
remediation thereof.

 

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

 

“Euro” means
the lawful currency of the member states of the European Union.

 

“Eurocurrency
Advance” means an Advance which, except as otherwise provided in Section 2.11,
bears interest at the applicable Eurocurrency Rate.

 

“Eurocurrency
Loan” means a Loan which, except as otherwise provided in Section 2.11,
bears interest at the applicable Eurocurrency Rate.

 

“Eurocurrency
Payment Office” of the Administrative Agent shall mean, for each of the Agreed
Currencies, the office, branch, affiliate or correspondent bank of the
Administrative Agent specified as the “Eurocurrency Payment Office” for such
currency in Schedule 1 or such other office, branch, affiliate or
correspondent bank of the Administrative Agent as it may from time to time
specify to the Company and each Lender as its Eurocurrency Payment Office for such
currency.

 

“Eurocurrency
Rate” means, with respect to a Eurocurrency Advance for the relevant Interest
Period, the sum of (i) the quotient of (a) the Eurocurrency Reference
Rate applicable to such Interest Period, divided by (b) one minus the
Reserve Requirement (expressed as a decimal) applicable to such Interest
Period, if any, plus (ii) the Applicable Margin, plus (iii) for Loans
booked in the United Kingdom, the Associated Costs Rate.

 

“Eurocurrency
Reference Rate” means

 

(a)  with
respect to a Eurocurrency Advance denominated in Euro for the relevant Interest
Period, the offered rate per annum at which deposits in Euro for a period
comparable to such Interest Period appear on Reuters Screen EURIBOR01 (or any
successor page) as of 11:00 A.M. (Brussels time) two Business Days prior
to the first day of such Interest Period as determined by

 

6

 

the Banking
Federation of the European Union; provided that if no such rate is
available, the Eurocurrency Reference Rate for such Interest Period shall
instead be the rate at which deposits in Euro in the approximately equivalent
amount of $5,000,000 and for a maturity comparable to such Interest Period are
offered by the principal London office of JPMCB in immediately available funds
in the European interbank market at approximately 11:00 a.m. (Brussels
time) two Business Days prior to the commencement of such Interest Period;

 

(b)  with
respect to a Eurocurrency Advance denominated in any other Agreed Currency for the
relevant Interest Period, the applicable British Bankers’ Association LIBOR
rate for deposits in such currency for a period comparable to such Interest
Period as reported by any generally recognized financial information service as
of 11:00 a.m. (Local Time) two Business Days prior to (or, in the case of
a Eurocurrency Advance denominated in British Pounds Sterling, on) the first
day of such Interest Period; provided that if no such rate is available,
the applicable Eurocurrency Reference Rate for such Interest Period shall
instead be the rate determined by the Administrative Agent to be the rate at
which JPMCB offers to place deposits in such currency for a period comparable
to such Interest Period with first-class banks in the London interbank market at
approximately 11:00 a.m. (Local Time) two Business Days prior to (or, in
the case of a Eurocurrency Advance denominated in British Pounds Sterling, on)
the first day of such Interest Period, in the approximate amount of JPMCB’s
relevant Eurocurrency Loan.

 

“Excluded
Taxes” means, in the case of each Lender or applicable Lending Installation and
the Administrative Agent, taxes imposed on its overall net income, and
franchise taxes imposed on it, by (i) the jurisdiction under the laws of
which such Lender or the Administrative Agent is incorporated or organized or (ii) the
jurisdiction in which the Administrative Agent’s or such Lender’s principal
executive office or such Lender’s applicable Lending Installation is located.

 

“Existing
Agreement” is defined in the preamble.

 

“Facility Fee
Rate” means, at any time, the percentage rate per annum at which facility fees
are accruing pursuant to Section 2.5.1 at such time as set forth in
the Pricing Schedule.

 

“Facility
Termination Date” means the earlier of (a) April 29, 2013 and (b) the
date on which the Commitments are reduced to zero pursuant to Section 2.5.3
or terminated pursuant to Section 8.1.

 

“Federal Funds
Effective Rate” means, for any day, an interest rate per annum equal to the
weighted average of the rates on overnight Federal funds transactions with
members of the Federal Reserve System arranged by Federal funds brokers on such
day, as published for such day (or, if such day is not a Business Day, for the
immediately preceding Business Day) by the Federal Reserve Bank of New York,
or, if such rate is not so published for any day which is a Business Day, the
average of the quotations at approximately 10:00 a.m. (Local Time) on such
day on such transactions received by the Administrative Agent from three
Federal funds brokers of recognized standing selected by the Administrative
Agent in its sole discretion.

 

7

 

“Floating Rate”
means, for any day, a rate per annum equal to the Alternate Base Rate for such
day, changing when and as the Alternate Base Rate changes.

 

“Floating Rate
Advance” means an Advance in Dollars that, except as otherwise provided in Section 2.11,
bears interest at the Floating Rate.

 

“Floating Rate
Loan” means a Loan in Dollars that, except as otherwise provided in Section 2.11,
bears interest at the Floating Rate.

 

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

 

“GAAP” means
generally accepted accounting principles as in effect from time to time in the
United States.

 

“Guarantee” by
any Person means any obligation, contingent or otherwise, of such Person
directly or indirectly guaranteeing any Debt or other obligation of any other
Person or in any manner providing for the payment of any Debt of any other
Person or otherwise protecting the holder of such Debt against loss (whether by
agreement to keep-well, to purchase assets, goods, securities or services, to
take-or-pay, or to maintain financial statement conditions or otherwise); provided
that the term Guarantee shall not include endorsements for collection or
deposit in the ordinary course of business. 
The term “Guarantee” used as a verb has a corresponding meaning.

 

“Hazardous
Substance” means any toxic, radioactive, caustic or otherwise hazardous
substance, including petroleum, its derivatives, by-products and other
hydrocarbons, or any substance having any constituent elements displaying any
of the foregoing characteristics.

 

“Interest
Period” means, with respect to a Eurocurrency Advance, a period commencing on a
Business Day selected by the applicable Borrower and ending on the numerically
corresponding date one, two, three or six months thereafter; provided
that (a) if there is no such numerically corresponding day in such next,
second, third or sixth succeeding month, such Interest Period shall end on the
last Business Day of such next, second, third or sixth succeeding month; (b) if
an Interest Period would otherwise end on a day that is not a Business Day,
such Interest Period shall end on the next succeeding Business Day, unless such
next succeeding Business Day falls in a new calendar month, in which case such
Interest Period shall end on the immediately preceding Business Day; and (c) no
Borrower may select an Interest Period ending after the scheduled Facility
Termination Date.

 

“Issuer” means
JPMCB and/or any other Lender that (i) is selected by the Company, (ii) agrees
to be an Issuer hereunder and (iii) is reasonably satisfactory to the
Administrative Agent, in each case in its capacity as an issuer of Letters of
Credit hereunder.

 

“JPMorgan”
means J.P. Morgan Securities Inc.

 

“JPMCB” is
defined in the preamble.

 

8

 

“JPMEL” means
J. P. Morgan Europe Ltd.

 

“LC Collateral
Account” is defined in Section 2.18(k).

 

“Lenders”
means the lending institutions listed on the signature pages of this
Agreement and their respective successors and assigns.

 

“Lending
Installation” means, with respect to a Lender or the Administrative Agent, the
office, branch, subsidiary or affiliate of such Lender or the Administrative
Agent with respect to each Agreed Currency listed on the signature pages hereof
or in an Administrative Questionnaire or otherwise selected by such Lender or
the Administrative Agent pursuant to Section 2.19.

 

“Letter of
Credit” is defined in Section 2.18(a).

 

“Letter of
Credit Application” is defined in Section 2.18(c).

 

“Letter of
Credit Fee” is defined in Section 2.18(d).

 

“Letter of
Credit Fee Rate” means, at any time, the percentage rate per annum applicable
to Letter of Credit Fees at such time as set forth in the Pricing Schedule.

 

“Letter of
Credit Obligations” means, at any time, the Dollar Amount of the sum, without
duplication, of (i) the aggregate undrawn stated amount of all Letters of
Credit at such time plus (ii) the aggregate unpaid amount of all
Reimbursement Obligations at such time.

 

“Lien” means
any lien (statutory or other), mortgage, pledge, hypothecation, assignment,
deposit arrangement, encumbrance or preference, priority or other security
agreement or preferential arrangement of any kind or nature whatsoever
(including the interest of a vendor or lessor under any conditional sale,
Capitalized Lease or other title retention agreement).

 

“Loan” means,
with respect to a Lender, any loan made by such Lender pursuant to Article II
(or any conversion or continuation thereof).

 

“Loan
Documents” means this Agreement, each Letter of Credit and each Letter of
Credit Application.

 

“Local Time”
means (a) with respect to Multicurrency Loans, London time, and (b) for
all other purposes, Chicago time.

 

“Material
Adverse Effect” means a material adverse effect on (i) the financial
position or business of the Company and its Subsidiaries taken as a whole or (ii) the
validity or enforceability of any of the Loan Documents or the rights or
remedies of the Administrative Agent, the Lenders or the Issuers thereunder.

 

“Material
Subsidiary” means at any time a Subsidiary which as of such time meets the
definition of a “significant subsidiary” contained as of the date hereof in
Regulation S-X of the Securities and Exchange Commission.

 

9

 

“Modification”
and “Modify” are defined in Section 2.18(a).

 

“Moody’s”
means Moody’s Investors Service, Inc.

 

“Multicurrency
Advance” means a borrowing by a Borrower hereunder (i) made by the
applicable Lenders to the same Borrower on the same Borrowing Date or (ii) converted
or continued by the applicable Lenders on the same date of conversion or
continuation, consisting, in either case, of the aggregate amount of the
several Eurocurrency Loans in the same Agreed Currency and for the same
Interest Period.

 

“Multicurrency
Loan” means a Eurocurrency Loan denominated in an Agreed Currency other than
Dollars.

 

“Multiemployer
Plan” means a Plan maintained pursuant to a collective bargaining agreement or
any other arrangement to which the Company or any member of the Controlled
Group is a party to which more than one employer is obligated to make
contributions.

 

“Non-U.S.
Lender” is defined in Section 3.4(d).

 

“Obligations”
means all unpaid principal of and accrued and unpaid interest on the Loans, all
Reimbursement Obligations and accrued and unpaid interest thereon, all accrued
and unpaid fees and all expenses, reimbursements, indemnities and other
obligations of any Borrower to the Lenders or to any Lender, any Issuer, the
Administrative Agent or any indemnified party arising under the Loan Documents.

 

“Other Taxes”
is defined in Section 3.4(c).

 

“Outstanding
Credit Exposure” means, as to any Lender at any time, the Dollar Amount of the
sum of (i) its Pro Rata Share of all Loans outstanding at such time plus (ii) its
Pro Rata Share of the Letter of Credit Obligations at such time.

 

“Participant”
is defined in Section 12.1(c).

 

“Participation
Funding Notice” means a written notice from a Lender to the Administrative
Agent advising the Administrative Agent that a Default exists and directing the
Administrative Agent to notify all Lenders to fund their participations in
extensions of credit made by BSub Lenders as provided in Section 2.24.

 

“Payment Date”
means the last Business Day of each calendar quarter.

 

“PBGC” means
the Pension Benefit Guaranty Corporation, or any successor thereto.

 

“Person” means
any natural person, corporation, firm, joint venture, partnership, limited
liability company, association, enterprise, trust or other entity or
organization, or any government or political subdivision or any agency,
department or instrumentality thereof.

 

10

 

“Plan” means
an employee pension benefit plan which is covered by Title IV of ERISA or
subject to the minimum funding standards under Section 412 of the Code as
to which the Company or any member of the Controlled Group may have any
liability.

 

“Pricing
Schedule” means the Schedule attached hereto identified as such.

 

“Prime Rate”
means the rate of interest per annum publicly announced from time to time by
JPMCB as its prime rate in effect at its office located at 270 Park Avenue, New
York, New York; each change in the Prime Rate shall be effective from and
including the date such change is publicly announced as being effective.

 

“Property” of
a Person means any and all property, whether real, personal, tangible,
intangible, or mixed, of such Person, or other assets owned, leased or operated
by such Person.

 

 “Pro Rata Share” means, with respect to any
Lender on any date of determination, the percentage which the sum of the amount
of such Lender’s Commitment is of the Aggregate Commitment (or, if the
Commitments have terminated, which (a) the sum of (i) the principal
amount of such Lender’s Loans to the Company plus (ii) the principal
amount of such Lender’s participation interest in all Loans to any other
Borrower plus (iii) the amount of such Lender’s participation in the
Letter of Credit Obligations is of (b) the Aggregate Outstanding Credit
Exposure) as of such date.  For purposes
of determining liability for any indemnity obligation under Section 2.18(j) or
10.8, each Lender’s Pro Rata Share shall be determined as of the date
the applicable Issuer or the Administrative Agent notifies the Lenders of such
indemnity obligation (or, if such notice is given after termination of this
Agreement, as of the date of such termination).

 

“Regulation D”
means Regulation D of the Board of Governors of the Federal Reserve System.

 

“Regulation U”
means Regulation U of the Board of Governors of the Federal Reserve System.

 

“Reimbursement
Obligations” means, at any time, the aggregate of all obligations of the Borrowers
then outstanding under Section 2.18 to reimburse the Issuers for
amounts paid by the Issuers in respect of any one or more drawings under
Letters of Credit.

 

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

 

“Reportable
Event” means a reportable event as defined in Section 4043 of ERISA and
the regulations issued under such section, with respect to a Plan, excluding,
however, such events as to which the PBGC has by regulation waived the
requirement of Section 4043(a) of ERISA that it be notified within 30
days of the occurrence of such event; provided that a failure to meet
the minimum funding standard of Section 412 of the Code and of Section 302
of ERISA shall be a Reportable Event regardless of the issuance of any such
waiver of the notice requirement in accordance with either Section 4043(a) of
ERISA or Section 412(d) of the Code.

 

11

 

“Reports” is
defined in Section 9.6.

 

“Required
Lenders” means Lenders having aggregate Pro Rata Shares in excess of 50%.

 

“Reserve
Requirement” means, with respect to an Interest Period, the maximum aggregate
reserve requirement (including all basic, supplemental, marginal and other
reserves) which is imposed under Regulation D on Eurocurrency liabilities.

 

“S&P”
means Standard and Poor’s Ratings Services, a division of The McGraw Hill
Companies, Inc.

 

“Subsidiary” of
a Person means (i) any corporation more than 50% of the outstanding
securities having ordinary voting power of which shall at the time be owned or
controlled, directly or indirectly, by such Person or by one or more of its
Subsidiaries or by such Person and one or more of its Subsidiaries, or (ii) any
partnership, limited liability company, association, joint venture or similar
business organization more than 50% of the ownership interests having ordinary
voting power of which shall at the time be so owned or controlled.  Unless otherwise expressly provided, all
references herein to a “Subsidiary” shall mean a Subsidiary of the Company.

 

“Substantial
Portion” means, with respect to the Property of the Company and its
Subsidiaries, Property which represents more than 15% of the consolidated total
assets of the Company and its Consolidated Subsidiaries or property which is
responsible for more than 10% of the consolidated net sales or of the
consolidated net income of the Company and its Consolidated Subsidiaries, in
each case, as would be shown in the consolidated financial statements of the
Company and its Subsidiaries as at the beginning of the twelve-month period
ending with the month in which such determination is made (or if financial
statements have not been delivered hereunder for that month which begins the
twelve-month period, then the financial statements delivered hereunder for the
quarter ending immediately prior to that month).

 

“Taxes” means
any and all present or future taxes, duties, levies, imposts, deductions,
charges or withholdings, and any and all liabilities with respect to the
foregoing, but excluding Excluded Taxes and
Other Taxes.

 

“Total Capital”
means, at any time, the sum of (i) Consolidated Debt plus (ii) deferred
taxes plus (iii) Consolidated Net Worth at such time.

 

“Transferee”
is defined in Section 12.2.

 

“Type” means,
with respect to any Domestic Advance, its nature as a Floating Rate Advance or
a Eurocurrency Advance and with respect to any Domestic Loan, its nature as a
Floating Rate Loan or a Eurocurrency Loan.

 

“Unfunded
Vested Liabilities” means, with respect to any Plan, the amount, if any, by
which the present value of all vested benefits under such Plan exceeds the fair
market value of all Plan assets allowable to such benefits, as determined on
the most recent valuation date of such Plan, but only to the extent that excess
represents a potential liability of the Borrower or any member of the
Controlled Group to the PBGC or to such Plan under Title IV of ERISA.

 

12

 

“Unmatured
Default” means an event which but for the lapse of time or the giving of
notice, or both, would constitute a Default.

 

“Utilization
Fee Rate” means, at any time, the percentage rate per annum at which utilization
fees are accruing pursuant to Section 2.5.2 at such time as set
forth in the Pricing Schedule.

 

“Voting
Securities” means any securities having ordinary power to vote for the election
of directors.

 

The foregoing
definitions shall be equally applicable to both the singular and plural forms
of the defined terms.

 

1.2.          Interpretation.

 

(a)           The meanings of defined terms are equally
applicable to the singular and plural forms of such terms.

 

(b)           Article, Section, Schedule
and Exhibit references are to this Agreement unless otherwise
specified.

 

(c)           The term “including” is not limiting and
means “including without limitation.”

 

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

 

(e)           Unless otherwise expressly provided herein, (i) references
to agreements (including this Agreement) and other contractual instruments shall
be deemed to include all subsequent amendments and other modifications thereto,
but only to the extent such amendments and other modifications are not
prohibited by the terms of this Agreement; and (ii) references to any
statute or regulation are to be construed as including all statutory and
regulatory provisions consolidating, amending, replacing, supplementing or
interpreting such statute or regulation.

 

ARTICLE II

THE CREDITS

 

2.1.          Commitment.  From the date of this Agreement to the
Facility Termination Date, (a) each Lender severally agrees, on the terms
and conditions set forth in this Agreement, to make Loans to the Company from
time to time, (b) each BSub Lender with respect to a Borrowing Subsidiary
severally agrees, on the terms and conditions set forth in this Agreement, to
make Multicurrency Loans to such Borrowing Subsidiary (and each other Lender
severally agrees that it will purchase a participation in each such Loan if
required pursuant to Section 2.24) and (c) each Issuer agrees
to issue Letters of Credit denominated in Agreed Currencies for the account of
any Borrower from time to time (and each Lender severally agrees to participate
in each such Letter of Credit as more fully set forth in Section 2.18);
provided that (i) at no time shall Loans be outstanding hereunder
in more than five different Agreed Currencies, (ii) the Aggregate
Outstanding Credit Exposure shall not at any time exceed the Aggregate 

 

13

 

Commitment, (iii) the Outstanding Credit Exposure of any Lender
shall not at any time exceed such Lender’s Commitment and (iv) the
aggregate Dollar Amount of all outstanding Multicurrency Loans under this
Agreement and the aggregate principal amount of all “Multicurrency Loans” under
and as defined in the 364-Day Credit Agreement shall not at any time exceed
$100,000,000.  Subject to the terms of
this Agreement, the Borrowers may borrow, repay and reborrow at any time prior
to the Facility Termination Date.  The
Commitments shall expire on the Facility Termination Date.

 

2.2.          Determination of Dollar Amounts.  The Administrative Agent will determine the
Dollar Amount of all outstanding Advances and Letter of Credit Obligations on
and as of (i) the date of each Credit Extension, (ii) the last Business
Day of each quarter and (iii) any other Business Day elected by the
Administrative Agent in its discretion or upon instruction by the Required
Lenders (each, a “Computation Date”).

 

2.3.          Ratable Loans.  Each Advance shall consist of Loans made (a) in
the case of Loans to the Company, by the Lenders ratably in accordance with
their respective Pro Rata Shares or (b) in the case of Loans to any
Borrowing Subsidiary, by the BSub Lenders for such Borrowing Subsidiary in
accordance with their respective BSub Percentages for such Borrowing
Subsidiary.

 

2.4.          Types of Advances.  Domestic Advances may be Floating Rate
Advances or Eurocurrency Advances, or a combination thereof, as selected by the
applicable Borrower in accordance with Sections 2.8 and 2.9.  Multicurrency Advances shall be Eurocurrency
Advances.

 

2.5.          Fees; Changes in Aggregate Commitment.

 

2.5.1.  Facility Fee.  The Company agrees to pay to the
Administrative Agent for the account of each Lender a facility fee at a per
annum rate equal to the Facility Fee Rate on the sum of such Lender’s
Commitment (whether used or unused) from the date hereof to the Facility
Termination Date (and, if any Loans remain outstanding after the close of
business in Chicago, Illinois on the Facility Termination Date, thereafter on
the outstanding principal amount of all Loans owed to each Lender).  The facility fee shall be payable on each
Payment Date, on the Facility Termination Date and, if applicable, thereafter
on demand.

 

2.5.2.  Utilization Fee.  The Company agrees to pay to the
Administrative Agent for the account of each Lender a utilization fee at a rate
per annum equal to the Utilization Fee Rate on such Lender’s Outstanding Credit
Exposure for any date (a) prior to the Facility Termination Date on which
the Aggregate Outstanding Credit Exposure exceeds 50% of the Aggregate
Commitment and (b) on or after the Facility Termination Date.  The utilization fee shall be payable on each
Payment Date, on the Facility Termination Date and, if applicable, thereafter
on demand.

 

2.5.3.  Reduction of Aggregate
Commitment.  The Company may
permanently reduce the Aggregate Commitment in whole, or in part ratably among
the Lenders in integral multiples of $10,000,000, upon at least five Business
Days’ written notice to the Administrative Agent, which notice shall specify
the amount of any such reduction; 

 

14

 

provided  that the amount of the Aggregate
Commitment may not be reduced below the Aggregate Outstanding Credit Exposure.

 

2.5.4.  Increase of Aggregate
Commitment.  So long as no Default or
Unmatured Default exists or would result therefrom, the Company may, from time
to time, by means of a letter delivered to the Administrative Agent
substantially in the form of Exhibit E, request that the Aggregate
Commitment be increased by (a) increasing the Commitment of one or more
Lenders that have agreed to such increase and/or (b) adding one or more
commercial banks or other Persons (each an “Additional Lender”) as a
party hereto with a Commitment in an amount agreed to by any such Additional
Lender; provided that (i) the aggregate amount of all such
increases during the term of this Agreement shall not exceed $200,000,000, (ii) any
such increase shall be in an amount equal to $25,000,000 or a higher integral
multiple of $5,000,000 and (iii) no Additional Lender shall be added as a
party hereto without the written consent of the Administrative Agent and each
Issuer (which shall not be unreasonably withheld).  Any increase in the Aggregate Commitment
pursuant to this Section 2.5.4 shall be effective three Business
Days after the date on which the Administrative Agent has received and accepted
the applicable increase letter in the form of Annex 1 to Exhibit E
(in the case of an increase in the Commitment of an existing Lender) or
assumption letter in the form of Annex 2 to Exhibit E (in the case
of the addition of an Additional Lender). 
The Administrative Agent shall promptly notify the Company and the
Lenders of any increase in the amount of the Aggregate Commitment pursuant to
this Section 2.5.4 and of the Commitment of each Lender after
giving effect thereto.  The parties
hereto agree that, in connection with any increase in the amount of the
Aggregate Commitment, the Borrowers and the Administrative Agent may agree on
procedures pursuant to this Section 2.5.4, such as phasing in
funding of the amount of the increased or new Commitment of an increasing
Lender or Additional Lender to minimize breakage costs so long as procedures
are also in place to cause each increasing Lender and Additional Lender to
purchase assignments or participations in amounts necessary to have their Pro
Rata Shares of the Aggregate Outstanding Credit Exposure upon acceleration of
the Loans.

 

2.6.          Minimum Amount of Each Advance.  Each Eurocurrency Advance shall be in the
Dollar Amount of $5,000,000 or a higher integral multiple of 1,000,000 units of
the applicable Agreed Currency.  Each
Floating Rate Advance shall be in the amount of $5,000,000 or a higher integral
multiple of $1,000,000; provided that any Floating Rate Advance may be
in the amount of the unused Aggregate Commitment.

 

2.7.          Payments and Prepayments.

 

2.7.1.  Payment at Maturity.  Each Borrower shall pay all its outstanding
Advances and all its other unpaid Obligations on the Facility Termination Date.

 

2.7.2.  Optional Payments.  Any Borrower may from time to time prepay,
without penalty or premium, all outstanding Floating Rate Advances to such
Borrower or, in an aggregate amount of $5,000,000 or higher integral multiples
of $1,000,000, any portion of the outstanding Floating Rate Advances to such
Borrower upon two Business Days’ prior notice to the Administrative Agent.  Any Borrower may from time to time prepay, 

 

15

 

subject to the
payment of any funding indemnification amounts required by Section 3.3
but without penalty or premium, all outstanding Eurocurrency Advances to such
Borrower or, in the aggregate amount of $5,000,000 or a higher integral multiple
of 1,000,000 units of the Agreed Currency, any portion of the outstanding
Eurocurrency Advances to such Borrower upon three Business Days’ prior notice
to the Administrative Agent.

 

2.7.3.  Mandatory Prepayments
due to Currency Fluctuations.  If on
any Computation Date (a) the Aggregate Outstanding Credit Exposure exceeds
the Aggregate Commitment, (b) the Dollar Amount of all outstanding
Multicurrency Loans exceeds the amount specified in clause (iv) of
the proviso to the first sentence of Section 2.1 or (c) the
Letter of Credit Obligations exceed the amount specified in subsection
2.18(a)(ii), then the Borrowers shall immediately repay Advances (or, in
the case of clause (c) and, if no Advances are outstanding, clause
(a), deposit funds in an LC Collateral Account) in an amount sufficient to
eliminate such excess.

 

2.8.          Method of Selecting Types and Interest
Periods for New Advances.  The
applicable Borrower shall select the Type of Advance and, in the case of a
Eurocurrency Advance, the Interest Period and Agreed Currency applicable
thereto from time to time.  The
applicable Borrower shall give the Administrative Agent irrevocable notice (a “Borrowing
Notice”) not later than 10:00 a.m. Local Time at least one Business
Day before the Borrowing Date of each Floating Rate Advance, three Business
Days before the Borrowing Date for each Eurocurrency Advance denominated in
Dollars and four Business Days before the Borrowing Date for each Eurocurrency
Advance denominated in an Agreed Currency other than Dollars, specifying:

 

(i)            the
Borrowing Date, which shall be a Business Day, of such Advance;

 

(ii)           the
aggregate amount of such Advance;

 

(iii)          the
Type of Advance selected; and

 

(iv)          in
the case of a Eurocurrency Advance, the Interest Period and Agreed Currency
applicable thereto.

 

2.9.          Conversion and Continuation of Outstanding
Advances.  Each Floating Rate Advance
shall continue as a Floating Rate Advance unless and until converted into a
Eurocurrency Advance pursuant to this Section 2.9 or repaid in
accordance with Section 2.7. 
Each Eurocurrency Advance shall continue as a Eurocurrency Advance until
the end of the then applicable Interest Period therefor, at which time:

 

(i)            in
the case of a Eurocurrency Advance denominated in Dollars, such Advance shall
be automatically converted into a Floating Rate Advance unless (x) repaid
in accordance with Section 2.7 or (y) the applicable Borrower
shall have given the Administrative Agent a Conversion/Continuation Notice (as
defined below) requesting that, at the end of such Interest Period, such
Eurocurrency Advance either continue as a Eurocurrency Advance for a new
Interest Period or be converted into a Floating Rate Advance; and

 

16

 

(ii)           in
the case of a Eurocurrency Advance denominated in an Agreed Currency other than
Dollars, if the Administrative Agent has not received a Conversion/Continuation
Notice (as defined below) prior to 11:00 a.m. Local Time, three Business
Days prior to the last day of any Interest Period, such Advance shall
automatically continue as a Eurocurrency Advance in the same Agreed Currency
with an Interest Period of one month unless (x) repaid in accordance with Section 2.7
or (y) the applicable Borrower shall have given the Administrative Agent a
timely Conversion/Continuation Notice (as defined below) requesting that, at
the end of such Interest Period, such Eurocurrency Advance continue as a
Eurocurrency Advance for a new Interest Period.

 

Subject to the
terms of Section 2.6, any Borrower may elect from time to time to
convert all or any part of an Advance to such Borrower denominated in Dollars
to the other Type of Advance denominated in Dollars or to continue any
Eurocurrency Advance to such Borrower for a new Interest Period in the same Agreed
Currency; provided that any conversion or continuation of any
Eurocurrency Advance shall be made on, and only on, the last day of an Interest
Period applicable thereto.  The
applicable Borrower shall give the Administrative Agent irrevocable notice (a “Conversion/Continuation
Notice”) of each conversion of an Advance or continuation of a Eurocurrency
Advance not later than 10:00 a.m. (Local Time) at least one Business Day,
in the case of a conversion into a Floating Rate Advance, three Business Days,
in the case of a conversion into or continuation of a Eurocurrency Advance
denominated in Dollars, or four Business Days, in the case of a conversion into
or continuation of a Eurocurrency Advance denominated in an Agreed Currency
other than Dollars, prior to the date of the requested conversion or
continuation, specifying:

 

(i)            the
requested date, which shall be a Business Day, of such conversion or
continuation; and

 

(ii)           the
Agreed Currency, amount and Type of Advance into which such Advance is to be
converted or continued and, in the case of a conversion into or continuation of
a Eurocurrency Advance, the duration of the Interest Period applicable thereto.

 

2.10.        Method of Borrowing.

 

(a)           On each Borrowing Date for a Domestic
Advance to the Company, each Lender shall make available its Domestic Loan in
accordance with its Pro Rata Share not later than noon, Local Time, in Federal
or other funds immediately available to the Administrative Agent, in Chicago,
Illinois at its address specified in or pursuant to Article XIII.

 

(b)           On each Borrowing Date for a Multicurrency
Advance to the Company, each Lender shall make available its Multicurrency Loan
in accordance with its Pro Rata Share not later than noon, Local Time, at the
Eurocurrency Payment Office of the Administrative Agent for such currency, in
such funds as may then be customary for the settlement of international
transactions in such currency in the city of such Eurocurrency Payment Office
for such currency.

 

17

 

(c)           On each Borrowing Date for a Multicurrency
Advance to a Borrowing Subsidiary, each applicable Lender shall make available
its Multicurrency Loan in accordance with its BSub Percentage for such
Borrowing Subsidiary not later than noon, Local Time, at the Eurocurrency
Payment Office of the Administrative Agent for such currency, in such funds as
may then be customary for the settlement of international transactions in such
currency in the city of such Eurocurrency Payment Office for such currency.

 

(d)           Unless the Administrative Agent has received
written notice that any applicable condition specified in Article IV
has not been satisfied with respect to a requested Advance, the Administrative
Agent will make the funds received from the Lenders available to the applicable
Borrower at the Administrative Agent’s aforesaid address.

 

2.11.        Changes in Interest Rate, etc.  Each Floating Rate Advance shall bear
interest on the outstanding principal amount thereof, for each day from the
date such Advance is made or is converted from a Eurocurrency Advance into a
Floating Rate Advance to the date such Advance becomes due or is converted into
a Eurocurrency Advance, at the Floating Rate for such day.  Changes in the rate of interest on that
portion of any Advance maintained as a Floating Rate Advance will take effect
simultaneously with each change in the Alternate Base Rate.  Each Eurocurrency Advance shall bear interest
on the outstanding principal amount thereof from the first day of each Interest
Period applicable thereto to the last day of such Interest Period at the
interest rate determined by the Administrative Agent as applicable to such
Eurocurrency Advance based upon the applicable Borrower’s selections under Sections
2.8 and 2.9 and otherwise in accordance with the terms hereof.

 

2.12.        Rates Applicable After Default.  Notwithstanding anything to the contrary
contained in Section 2.8, 2.9 or 2.11, during the
continuance of a Default or Unmatured Default the Required Lenders may, at
their option, by notice to the Company (which notice may be revoked at the
option of the Required Lenders notwithstanding any provision of Section 8.2
requiring unanimous consent of the Lenders to changes in interest rates),
declare that (a) no Advance denominated in Dollars may be made as,
converted into or continued as a Eurocurrency Advance and/or (b) each
Eurocurrency Advance shall bear interest for the remainder of the applicable
Interest Period at the rate otherwise applicable to such Interest Period plus
2% per annum and/or (c) each Floating Rate Advance shall bear interest at
a rate per annum equal to the Floating Rate in effect from time to time plus 2%
per annum and/or (d) the Letter of Credit Fee Rate shall be increased by
2% per annum; provided that, during the continuance of a Default under Section 7.6
or 7.7, the interest rates set forth in clauses (b) and (c) above
and the increase in the Letter of Credit Fee Rate set forth in clause (d) above
shall be applicable to all applicable Credit Extensions without any election or
action on the part of the Administrative Agent or any Lender.

 

2.13.        Method of Payment.  (a)  Each Advance shall be repaid and
each payment of interest thereon shall be paid in the currency in which such
Advance was made.  Except as set forth in
the next sentence, all payments of the Obligations hereunder shall be made,
without setoff, deduction, or counterclaim, in immediately available funds to
the Administrative Agent at the Administrative Agent’s address specified
pursuant to Article XIII, or at any other Lending Installation of
the Administrative Agent specified in writing by the Administrative Agent to
the Company, by noon (Local Time) on the date when due and shall be applied
ratably by the 

 

18

 

Administrative Agent among the Lenders in accordance with their Pro
Rata Shares.  All payments to be made by
a Borrower hereunder in any currency other than Dollars shall be made in such
currency on the date due in such funds as may then be customary for the settlement
of international transactions in such currency for the account of the
Administrative Agent at its Eurocurrency Payment Office for such currency, and
shall be applied ratably by the Administrative Agent among the Lenders in
accordance with their respective Pro Rata Shares (or, in the case of any
applicable Borrowing Subsidiary, their respective BSub Percentages).  Each payment delivered to the Administrative
Agent for the account of any Lender shall be delivered promptly by the
Administrative Agent to such Lender in the same type of funds received by the
Administrative Agent.  Each Borrower
authorizes the Administrative Agent to charge any account of such Borrower
maintained with JPMCB or any of its Affiliates for each payment of principal,
interest and fees as it becomes due hereunder.

 

(b)           Notwithstanding the foregoing provisions of
this Section, if, after the making of any Multicurrency Advance, currency
control or exchange regulations are imposed in the country which issues such
currency with the result that the type of currency in which the Advance was
made (the “Original Currency”) no longer exists or the applicable
Borrower is not able to make payment to the Administrative Agent for the
account of the applicable Lenders in such Original Currency, then all payments
to be made by such Borrower hereunder in such currency shall instead be made
when due in Dollars in an amount equal to the Dollar Amount (as of the date of
repayment) of such payment due, it being the intention of the parties hereto that
such Borrower take all risks of the imposition of any such currency control or
exchange regulations.

 

2.14.        Noteless Agreement; Evidence of Indebtedness.  (a)  Each Lender shall maintain in
accordance with its usual practice an account or accounts evidencing the
indebtedness of the Borrowers to such Lender resulting from each Loan made by
such Lender from time to time, including the amounts of principal and interest
payable and paid to such Lender from time to time hereunder.

 

(b)           The Administrative Agent shall maintain
accounts in which it will record (i) the amount of each Loan made to each
Borrower hereunder, the Agreed Currency and Type thereof and, if applicable,
the Interest Period with respect thereto, (ii) the amount of any principal
or interest due and payable or to become due and payable from each Borrower to
each Lender hereunder, (iii) the original stated amount of each Letter of
Credit issued for the account of, and the amount of Letter of Credit
Obligations owing by, each Borrower at any time and (iv) the amount of any
sum received by the Administrative Agent hereunder from each Borrower and each
Lender’s share thereof.

 

(c)           The entries maintained in the accounts
maintained pursuant to clauses (a) and (b) above shall
be prima facie evidence of the
existence and amounts of the Obligations therein recorded; provided that
the failure of the Administrative Agent or any Lender to maintain such accounts
or any error therein shall not in any manner affect the obligation of any
Borrower to repay the Obligations in accordance with their terms.

 

2.15.        Telephonic Notices.  Each Borrower hereby authorizes the Lenders
and the Administrative Agent to extend, convert or continue Advances in
Dollars, effect selections of 

 

19

 

Agreed Currencies and Types of Advances and to transfer funds based on
telephonic notices made by any person or persons the Administrative Agent or
any Lender in good faith believes to be acting on behalf of such Borrower, it
being understood that the foregoing authorization is specifically intended to
allow Borrowing Notices for Advances in Dollars and Conversion/Continuation
Notices to be given telephonically.  Each
Borrower agrees to deliver promptly to the Administrative Agent, upon request
of the Administrative Agent or any Lender, a written confirmation (signed by an
Authorized Officer) of each telephonic notice. 
If the written confirmation differs in any material respect from the
action taken by the Administrative Agent and the Lenders, the records of the
Administrative Agent and the Lenders shall govern absent manifest error.  Notwithstanding the foregoing, all notices to
JPMEL hereunder shall be in writing.

 

2.16.        Interest Payment Dates; Interest and Fee
Basis.  Interest accrued on each
Floating Rate Advance shall be payable on each Payment Date, commencing with
the first such date to occur after the date hereof, on any date on which such
Floating Rate Advance is prepaid, whether due to acceleration or otherwise, and
at maturity.  Interest accrued on that
portion of the outstanding principal amount of any Floating Rate Advance
converted into a Eurocurrency Advance on a day other than a Payment Date shall
be payable on the date of conversion. 
Interest accrued on each Eurocurrency Advance shall be payable on the
last day of each Interest Period therefor, on any date on which such
Eurocurrency Advance is prepaid, whether by acceleration or otherwise, and at
maturity.  Interest accrued on each
Eurocurrency Advance having an Interest Period longer than three months shall
also be payable on the last day of each three-month interval during such
Interest Period.  Interest and facility
fees shall be calculated for actual days elapsed on the basis of a 360-day
year, except for interest on
Loans denominated in British Pounds Sterling which shall be calculated for
actual days elapsed on the basis of a 365-day year.  Interest shall be payable for the day an
Advance is made but not for the day of any payment on the amount paid if
payment is received prior to noon (Local Time) at the place of payment.  If any payment of principal of or interest on
an Advance shall become due on a day which is not a Business Day, such payment
shall be made on the next succeeding Business Day and, in the case of a
principal payment, such extension of time shall be included in computing
interest in connection with such payment.

 

2.17.        Notification of Advances, Interest Rates,
Prepayments and Commitment Reductions. 
Promptly after receipt thereof, the Administrative Agent will notify
each Lender of the contents of each Aggregate Commitment reduction notice,
Borrowing Notice, Conversion/Continuation Notice, and repayment notice received
by it hereunder.  The Administrative
Agent will notify each Lender of the interest rate applicable to each
Eurocurrency Advance promptly upon determination of such interest rate and will
give each Lender prompt notice of each change in the Alternate Base Rate.

 

2.18.        Letters of Credit.

 

(a)           Issuance.  Each Issuer hereby agrees, on the terms and
conditions set forth in this Agreement, to issue standby letters of credit
denominated in Agreed Currencies (each a “Letter of Credit”) and to
renew, extend, increase, decrease or otherwise modify Letters of Credit (“Modify,”
and each such action a “Modification”) from time to time from the date
of this Agreement to the Facility Termination Date upon the request of a
Borrower; provided that 

 

20

 

immediately after any Letter of Credit is issued or Modified, (i) the
Aggregate Outstanding Credit Exposure shall not exceed the Aggregate Commitment
and (ii) the sum of (A) the Letter of Credit Obligations under this
Agreement plus (B) the “Letter of Credit Obligations” under and as
defined in the 364-Day Credit Agreement shall not exceed $50,000,000.  No Letter of Credit shall have an expiry date
after the earlier of (x) the scheduled Facility Termination Date and (y) the
date that is one year after the date of issuance thereof (provided that any
Letter of Credit with a one-year tenor may provide for the renewal thereof for
additional one-year periods not to extend beyond the scheduled Facility
Termination Date).

 

(b)           Participations.  Upon the issuance or Modification by the
Issuer of a Letter of Credit in accordance with this Section 2.18,
the applicable Issuer shall be deemed, without further action by any Person, to
have unconditionally and irrevocably sold to each Lender, and each Lender shall
be deemed, without further action by any Person, to have unconditionally and
irrevocably purchased from such Issuer, a participation in such Letter of
Credit (and each Modification thereof) and the related Letter of Credit
Obligations in proportion to its Pro Rata Share.

 

(c)           Notice.  Subject to Section 2.18(a), the
applicable Borrower shall give the applicable Issuer notice prior to 10:00 a.m.
(Local Time) at least three Business Days (or such lesser period of time as
such Issuer may agree in its sole discretion) prior to the proposed date of
issuance or Modification of each Letter of Credit, specifying the beneficiary,
the proposed date of issuance (or Modification), the currency in which such
Letter of Credit is to be denominated (which shall be an Agreed Currency) and
the expiry date of such Letter of Credit, and describing the proposed terms of
such Letter of Credit and the nature of the transactions proposed to be
supported thereby.  Upon receipt of such
notice, the applicable Issuer shall promptly notify the Administrative Agent,
and the Administrative Agent shall promptly notify each Lender, of the contents
thereof and of the amount of such Lender’s participation in such proposed
Letter of Credit.  The issuance or
Modification by an Issuer of any Letter of Credit shall, in addition to the
conditions precedent set forth in Article IV (the satisfaction of
which such Issuer shall have no duty to ascertain, it being understood,
however, that such Issuer shall not issue any Letter of Credit if it has
received written notice from any Borrower, the Administrative Agent or any
Lender that any such condition precedent has not been satisfied), be subject to
the conditions precedent that such Letter of Credit shall be satisfactory to
such Issuer and that the applicable Borrower shall have executed and delivered
such application agreement and/or such other instruments and agreements
relating to such Letter of Credit as the Issuer shall have reasonably requested
(each a “Letter of Credit Application”). 
In the event of any conflict between the terms of this Agreement and the
terms of any Letter of Credit Application, the terms of this Agreement shall
control.

 

(d)           Letter of Credit Fees.  Each Borrower shall pay to the Administrative
Agent, for the account of the Lenders ratably in accordance with their
respective Pro Rata Shares, with respect to each Letter of Credit, a letter of
credit fee (the “Letter of Credit Fee”) at a per annum rate equal to the
Letter of Credit Fee Rate in effect from time to time on the maximum undrawn
amount which may at any time thereafter be available under such Letter of
Credit, such fee to be payable in arrears on each Payment Date, on the Facility
Termination Date and, after the Facility Termination Date (if applicable), on
demand.  The Company shall also pay to
each Issuer for its own account (x) a fronting fee in the amount agreed to
by such Issuer and the Company from 

 

21

 

time to time, with such fee to be payable in arrears on each Payment
Date, and (y) documentary and processing charges in connection with the issuance
or Modification of and draws under Letters of Credit in accordance with such
Issuer’s standard schedule for such charges as in effect from time to time.

 

(e)           Administration; Reimbursement by Lenders.  Upon receipt from the beneficiary of any
Letter of Credit of any demand for payment under such Letter of Credit, the
applicable Issuer shall notify the Administrative Agent and the Administrative
Agent shall promptly notify the applicable Borrower and each Lender of the
amount to be paid by such Issuer as a result of such demand and the proposed
payment date (the “Letter of Credit Payment Date”).  The responsibility of any Issuer to the
applicable Borrower and each Lender shall be only to determine that the
documents delivered under each Letter of Credit issued by it in connection with
a demand for payment are in conformity in all material respects with such
Letter of Credit.  Each Issuer shall
endeavor to exercise the same care in its issuance and administration of
Letters of Credit as it does with respect to letters of credit in which no
participations are granted, it being understood that in the absence of any
gross negligence or willful misconduct by such Issuer, each Lender shall,
subject to Section 2.24, be unconditionally and irrevocably
obligated, without regard to the occurrence of any Default or any condition
precedent whatsoever, to reimburse such Issuer on demand for such Lender’s Pro
Rata Share of the amount of each payment made by such Issuer under each Letter
of Credit issued by it to the extent such amount is not reimbursed by the
Borrowers pursuant to Section 2.18(f), plus interest on the
foregoing amount, for each day from the date of the applicable payment by the
Issuer to the date on which such Issuer is reimbursed by such Lender for its Pro
Rata Share thereof, at a rate per annum equal to the Federal Funds Effective
Rate or, beginning on third Business Day after demand for such amount by such
Issuer, the rate applicable to Floating Rate Advances.

 

(f)            Reimbursement by Borrowers.  The applicable Borrower shall be irrevocably
and unconditionally obligated to reimburse each Issuer on or before the
applicable Letter of Credit Payment Date for any amount to be paid by such
Issuer upon any drawing under any Letter of Credit issued for the account of
such Borrower, without presentment, demand, protest or other formalities of any
kind; provided that such Borrower shall not be precluded from asserting
any claim for direct (but not consequential) damages suffered by such Borrower
to the extent, but only to the extent, caused by the willful misconduct or
gross negligence of such Issuer in determining whether a request presented
under any Letter of Credit complied with the terms of such Letter of Credit or
such Issuer’s failure to pay under any Letter of Credit after the presentation
to it of a request strictly complying with the terms and conditions of such
Letter of Credit.  All such amounts paid
by an Issuer and remaining unpaid by a Borrower shall bear interest, payable on
demand, for each day until paid at a rate per annum equal to the sum of 2% plus
the rate applicable to Floating Rate Advances. 
Each Issuer will pay to each Lender ratably in accordance with its Pro
Rata Share all amounts received by it from a Borrower for application in
payment, in whole or in part, of the Reimbursement Obligation in respect of any
Letter of Credit issued by such Issuer, but only to the extent such Lender made
payment to such Issuer in respect of such Letter of Credit pursuant to Section 2.18(e).

 

(g)           Obligations Absolute.  The Borrowers’ obligations under this Section 2.18
shall be absolute and unconditional under any and all circumstances and
irrespective of any setoff, counterclaim or defense to payment which any
Borrower may have or have had against any 

 

22

 

Issuer, any Lender or any beneficiary of a Letter of Credit.  The Borrowers further agree with the Issuers
and the Lenders that neither any Issuer nor any Lender shall be responsible
for, and no Borrower’s Reimbursement Obligation in respect of any Letter of
Credit shall be affected by, among other things, the validity or genuineness of
documents or of any endorsements thereon, even if such documents should in fact
prove to be in any or all respects invalid, fraudulent or forged, or any
dispute between or among any Borrower, any of its Affiliates, the beneficiary
of any Letter of Credit or any financing institution or other party to whom any
Letter of Credit may be transferred or any claims or defenses whatsoever of any
Borrower or of any of its Affiliates against the beneficiary of any Letter of
Credit or any such transferee.  No Issuer
shall be liable for any error, omission, interruption or delay in transmission,
dispatch or delivery of any message or advice, however transmitted, in
connection with any Letter of Credit issued by it.  Each Borrower agrees that any action taken or
omitted by any Issuer or any Lender under or in connection with any Letter of
Credit issued for the account of such Borrower and the related drafts and
documents, if done without gross negligence or willful misconduct, shall be
binding upon such Borrower and shall not put any Issuer or any Lender under any
liability to such Borrower.  Nothing in
this Section 2.18(g) is intended to limit the right of any
Borrower to make a claim against any Issuer for damages as contemplated by the
proviso to the first sentence of Section 2.18(f).

 

(h)           Actions of Issuer.  Each Issuer shall be entitled to rely, and
shall be fully protected in relying, upon any Letter of Credit, draft, writing,
resolution, notice, consent, certificate, affidavit, letter, cablegram,
telegram, facsimile, telex or teletype message, statement, order or other
document 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, independent accountants and other experts selected by such
Issuer.  Each Issuer shall be fully
justified in failing or refusing to take any action under this Agreement unless
it shall first have received such advice or concurrence of the Required Lenders
as it reasonably deems appropriate or it shall first be indemnified to its
reasonable 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. Notwithstanding any other provision of this Section 2.18,
each Issuer shall in all cases be fully protected in acting, or in refraining
from acting, under this Agreement in accordance with a request of the Required
Lenders, and such request and any action taken or failure to act pursuant
thereto shall be binding upon the Lenders and any future holder of a
participation in any Letter of Credit issued by such Issuer.

 

(i)            Indemnification.  The Borrowers jointly and severally agree to
indemnify and hold harmless each Lender, each Issuer and the Administrative
Agent, and their respective Related Parties, from and against any and all
claims and damages, losses, liabilities, costs or expenses which such Person
may incur (or which may be claimed against such Person by any other Person) by
reason of or in connection with the issuance, execution and delivery or
transfer of or payment or failure to pay under any Letter of Credit or any actual
or proposed use of any Letter of Credit, including any claims, damages, losses,
liabilities, costs or expenses which any Issuer may incur by reason of or in
connection with the failure of any other Lender to fulfill or comply with its
obligations to such Issuer hereunder (but nothing herein contained shall affect
any right any Borrower may have against any defaulting Lender) or by reason of
or on account of such Issuer issuing any Letter of Credit which specifies that
the term “Beneficiary” therein includes any successor by operation of law of
the named Beneficiary, but which Letter of Credit 

 

23

 

does not require that any drawing by any such successor Beneficiary be
accompanied by a copy of a legal document, satisfactory to such Issuer,
evidencing the appointment of such successor Beneficiary; provided that
the Borrowers shall not be required to indemnify any Person for any claims,
damages, losses, liabilities, costs or expenses to the extent, but only to the
extent, caused by (x) the willful misconduct or gross negligence of any
Issuer in determining whether a request presented under any Letter of Credit
issued by such Issuer complied with the terms of such Letter of Credit or (y) any
Issuer’s failure to pay under any Letter of Credit after the presentation to it
of a request strictly complying with the terms and conditions of such Letter of
Credit.  Nothing in this Section 2.18(i) is
intended to limit the obligations of the Borrowers under any other provision of
this Agreement.

 

(j)            Lenders’ Indemnification.  Each Lender shall, ratably in accordance with
its Pro Rata Share, indemnify each Issuer and its Related Parties (to the
extent not reimbursed by the Borrowers) against any cost, expense (including
reasonable counsel fees and charges), claim, demand, action, loss or liability
(except such as result from such indemnitees’ gross negligence or willful
misconduct or such Issuer’s failure to pay under any Letter of Credit issued by
it after the presentation to it of a request strictly complying with the terms
and conditions of such Letter of Credit) that such indemnitees may suffer or
incur in connection with this Section 2.18 or any action taken or
omitted by such indemnitees hereunder.

 

(k)           LC Collateral Account.  Each Borrower agrees that it will establish
on the Facility Termination Date (or on such earlier date as may be required
pursuant to Section 8.1), and thereafter maintain so long as any
Letter of Credit issued for the account of such Borrower is outstanding or any
amount is payable to any Issuer or the Lenders in respect of any such Letter of
Credit, a special collateral account pursuant to arrangements satisfactory to
the Administrative Agent (each an “LC Collateral Account”) at the
Administrative Agent’s office at the address specified pursuant to Article XIII,
in the name of such Borrower but under the sole dominion and control of the
Administrative Agent, for the benefit of the Lenders, and in which such
Borrower shall have no interest other than as set forth in Section 8.1.  Each Borrower hereby pledges, assigns and
grants to the Administrative Agent, on behalf of and for the ratable benefit of
the Lenders and the Issuers, a security interest in all of such Borrower’s
right, title and interest in and to all funds which may from time to time be on
deposit in the applicable LC Collateral Account, to secure the prompt and
complete payment and performance of the Obligations of such Borrower.  The Administrative Agent will invest any
funds on deposit from time to time in any LC Collateral Account in certificates
of deposit of JPMCB having a maturity not exceeding 30 days.  If funds are deposited in an LC Collateral
Account pursuant to Section 2.7.3 and the provisions of Section 8.1
are not applicable, then the Administrative Agent shall release from the LC
Collateral Account to the applicable Borrower, upon the expiration or
termination of, or any reduction in the amount available under, any applicable
Letter of Credit, an amount equal to the excess (if any) of all funds in such
LC Collateral Account over the Letter of Credit Obligations of such Borrower.

 

(l)            Rights as a Lender.  In its capacity as a Lender, each Issuer
shall have the same rights and obligations as any other Lender.

 

2.19.        Lending Installations.  Each Lender will book its Loans at the
appropriate Lending Installation listed on its Administrative Questionnaire or
such other Lending Installation 

 

24

 

designated by such Lender in accordance with the final sentence of this
Section 2.19.  All terms of
this Agreement shall apply to any such Lending Installation and the Loans
issued hereunder shall be deemed held by each Lender for the benefit of any
such Lending Installation.  Each Lender
may, by written notice to the Administrative Agent and the Company in
accordance with Article XIII, designate replacement or additional
Lending Installations through which Loans will be made by it and for whose
account Loan payments are to be made.

 

2.20.        Non-Receipt of Funds by the Administrative
Agent.  Unless a Borrower or a
Lender, as the case may be, notifies the Administrative Agent prior to the date
on which it is scheduled to make payment to the Administrative Agent of (a) in
the case of a Lender, the proceeds of a Loan or (b) in the case of a
Borrower, a payment of principal, interest or fees to the Administrative Agent
for the account of the Lenders, that it does not intend to make such payment,
the Administrative Agent may assume that such payment has been made.  The Administrative Agent may, but shall not
be obligated to, make the amount of such payment available to the intended
recipient in reliance upon such assumption. 
If such Lender or such Borrower, as the case may be, has not in fact
made such payment to the Administrative Agent, the recipient of such payment
shall, on demand by the Administrative Agent, repay to the Administrative Agent
the amount so made available together with interest thereon in respect of each
day during the period commencing on the date such amount was so made available
by the Administrative Agent until the date the Administrative Agent recovers
such amount at a rate per annum equal to (i) in the case of payment by a
Borrower, the interest rate applicable to the relevant Loan; or (ii) in
the case of payment by a Lender, (x) for the first three Business Days
after demand, (I) if such payment is denominated in Dollars, the Federal
Funds Effective Rate, (II) if such payment is denominated in Euros or
British Pounds Sterling, the applicable Eurocurrency Reference Rate, or (III) if
such payment is denominated in any other currency, the rate determined by the
Administrative Agent to be its costs of funds for such currency (including
overdraft charges levied by any relevant correspondent bank and any other
taxes, levies, imposts, deductions, charges or withholdings imposed upon, or
charged to, the Administrative Agent in connection with obtaining such
currency), and (y) thereafter (in each case), the interest rate applicable
to the relevant Loan.

 

2.21.        Market Disruption.  Notwithstanding the satisfaction of all
conditions referred to in Article II and Article IV
with respect to any Advance in any Agreed Currency other than Dollars, if there
shall occur on or prior to the date of such Advance any change in national or
international financial, political or economic conditions or currency exchange
rates or exchange controls which would in the reasonable opinion of the
Administrative Agent or the Required Lenders make it impracticable for the
Eurocurrency Loans comprising such Advance to be denominated in the Agreed
Currency specified by the applicable Borrower, then the Administrative Agent
shall forthwith give notice thereof to the Borrowers and the Lenders, and such
Loans shall not be denominated in such Agreed Currency but shall, except as
otherwise set forth in Section 2.14, be made on such Borrowing Date
in Dollars, in an aggregate principal amount equal to the Dollar Amount of the
aggregate principal amount specified in the related Borrowing Notice or
Conversion/Continuation Notice, as the case may be, as Floating Rate Loans,
unless the applicable Borrower notifies the Administrative Agent at least one
Business Day before such date that (i) it elects not to borrow on such
date or (ii) it elects to borrow on such date in a different Agreed
Currency, as the case may be, in which the denomination of such Loans would in
the opinion of the Administrative Agent and the Required Lenders be practicable

 

25

 

and in an aggregate principal amount approximately equal to the Dollar
Amount of the aggregate principal amount specified in the related Borrowing
Notice or Conversion/Continuation Notice, as the case may be.

 

2.22.        Judgment Currency.  If for the purposes of obtaining judgment in
any court it is necessary to convert a sum due from a Borrower hereunder in the
currency expressed to be payable herein (the “specified currency”) into another
currency, the parties hereto agree, to the fullest extent that they may
effectively do so, that the rate of exchange used shall be that at which in
accordance with normal banking procedures the Administrative Agent could
purchase the specified currency with such other currency at the Administrative
Agent’s main Chicago office on the Business Day preceding that on which final,
non-appealable judgment is given.  The
obligations of the Borrowers in respect of any sum due to any Lender or the
Administrative Agent hereunder shall, notwithstanding any judgment in a
currency other than the specified currency, be discharged only to the extent
that on the Business Day following receipt by such Lender or the Administrative
Agent (as the case may be) of any sum adjudged to be so due in such other
currency such Lender or the Administrative Agent (as the case may be) may in
accordance with normal, reasonable banking procedures purchase the specified
currency with such other currency.  If
the amount of the specified currency so purchased is less than the sum
originally due to such Lender or the Administrative Agent, as the case may be,
in the specified currency, the Borrowers jointly and severally agree, to the
fullest extent that they may effectively do so, as a separate obligation and
notwithstanding any such judgment, to indemnify such Lender or the
Administrative Agent, as the case may be, against such loss, and if the amount
of the specified currency so purchased exceeds (a) the sum originally due
to any Lender or the Administrative Agent, as the case may be, in the specified
currency and (b) any amounts shared with other Lenders as a result of
allocations of such excess as a disproportionate payment to such Lender under Section 11.2,
such Lender or the Administrative Agent, as the case may be, agrees to remit
such excess to the Borrowers.

 

2.23.        Borrowing Subsidiaries; Company as agent for
Borrowing Subsidiaries.

 

(a)           The Company may designate any Subsidiary as
a Borrowing Subsidiary; provided that (i) the Company shall give
the Administrative Agent (which shall promptly notify each Lender) not less
than 10 days’ notice of such proposed designation of a Borrowing Subsidiary, (ii) no
Subsidiary may become a Borrowing Subsidiary without the written consent of the
Administrative Agent (which consent, if granted, may limit the portion of the
Aggregate Commitment that will be made available to, or place other conditions
on Loans to, such Borrowing Subsidiary) and (iii) if any Lender determines
in good faith and notifies the Administrative Agent that lending to such
proposed Borrowing Subsidiary would be illegal, impossible or impractical for
such Lender or would result in costs or expenses for which such Lender would
not be indemnified by the proposed Borrowing Subsidiary or the Company pursuant
hereto, or the Company determines in good faith and notifies the Administrative
Agent that Loans to such proposed Borrowing Subsidiary by any Lender would
result in payments pursuant to Section 3.1 or 3.4 that are
materially in excess of the payments that would be made to the other Lenders
pursuant to such Sections, then (x) the applicable Lender shall have no
obligation to make Loans to such Borrowing Subsidiary and (y) the
applicable Borrowing Subsidiary Agreement shall specify which Lenders are to be
BSub Lenders with respect to such Borrowing Subsidiary and the amount of the
applicable BSub Commitments of such Lenders 

 

26

 

(which, absent agreement to the contrary among the Company, the
applicable BSub Lenders and the Administrative Agent, shall be equal to the
percentage that the amount of such BSub Lenders’ Commitments is of the
aggregate amount of the Commitments of all Lenders that will be BSub Lenders
with respect to such Borrowing Subsidiary). 
Subject to the foregoing, upon delivery to the Administrative Agent of a
Borrowing Subsidiary Agreement signed by the Company and the proposed Borrowing
Subsidiary, and the Administrative Agent’s consent thereto, the applicable
Subsidiary shall become a Borrowing Subsidiary and a party to this Agreement.

 

(b)           Any Borrowing Subsidiary shall cease to be a
Borrowing Subsidiary hereunder if such Borrowing Subsidiary and the Company
shall have executed and delivered to the Administrative Agent a Borrowing
Subsidiary Termination in the form of Exhibit F-2; provided that
at such time no Multicurrency Loans made to, or Letters of Credit issued for
the account of, such Borrowing Subsidiary are then outstanding.

 

(c)           Each Borrowing Subsidiary hereby irrevocably
appoints and authorizes the Company to take such action and deliver and receive
notices hereunder as agent on its behalf and to exercise such powers under this
Agreement as are delegated to it by the terms hereof, together with all such
powers as are reasonably incidental thereto. 
In furtherance of and not in limitation of the foregoing, for
administrative convenience of the parties hereto, the Administrative Agent and
the Lenders shall send all notices and communications to be sent to any
Borrowing Subsidiary solely to the Company and may rely solely upon the Company
to receive all such notices and other communications for and on behalf of each
Borrowing Subsidiary.  No Person other
than the Company (and its authorized officers and employees) may act as agent
for any Borrowing Subsidiary hereunder without the written consent of the
Administrative Agent.

 

2.24.        Effect of Participation Funding Notice.

 

(a)           Each Lender that is not a BSub Lender with
respect to any Borrowing Subsidiary agrees that it shall at all times have a
participation in and acknowledges that it is irrevocably and unconditionally
obligated, upon receipt of notice that the Administrative Agent has received a
Participation Funding Notice, to fund (or to cause an Affiliate to fund) its
participation in, (i) its Pro Rata Share of all Loans to such Borrowing
Subsidiary.

 

(b)           The Administrative Agent shall promptly
notify each Lender of its receipt of a Participation Funding Notice.  Promptly upon receipt of such Participation
Funding Notice, (i) each Lender that is not a BSub Lender with respect to
any Borrowing Subsidiary shall (or shall cause an Affiliate to) make available
to the Administrative Agent for the account of the BSub Lenders with respect to
such Borrowing Subsidiary an amount in each applicable currency and in
immediately available funds equal to its Pro Rata Share of all outstanding
Loans to such Borrowing Subsidiary.  If
any Lender so notified fails to make available to the Administrative Agent for
the account of the applicable other Lenders the full amount of such Lender’s
participations in all applicable Loans by 12:00 noon, Local Time, on the
Business Day following its receipt of such notice from the Administrative Agent
(or two Business Days following receipt of such notice if such notice is
received after 12:00 noon, Local Time, on any Business Day), then interest
shall accrue on such Lender’s obligation to fund such participations, from the
date such obligation became due to the date such Lender pays such obligations
in full, at a rate per 

 

27

 

annum equal to the Federal Funds Rate in effect from time to time (or a
comparable rate determined by the Administrative Agent to be appropriate for
the applicable currency) plus, beginning three Business Days after such amount
was due, 2%.  The Administrative Agent
shall promptly distribute to each Lender an amount equal to its applicable
share of the amount received from any other Lender to fund its participation in
the Loans of such Lender together with its applicable share of any interest received
from such other Lender pursuant to the previous sentence, in the same funds as
those received by the Administrative Agent.

 

(c)           From and after the date on which the
Administrative Agent has received a Participation Funding Notice, all funds
received by the Administrative Agent in payment of any Loan and interest
thereon shall be distributed by the Administrative Agent, in the same funds as
those received by the Administrative Agent, to all Lenders in accordance with
their respective Pro Rata Shares (i.e., giving effect to the funding of
participations pursuant to this Section 2.24), except that any such
funds otherwise payable to any Lender that has not funded its participations as
provided herein shall be distributed ratably to the other Lenders until such
participations have been funded.

 

(d)           Each Lender’s obligation to purchase
participation interests in Loans pursuant to this Section 2.24
shall be absolute and unconditional and shall not be affected by any
circumstance whatsoever, including (i) any set-off, counterclaim,
recoupment, defense or other right which such Lender may have against the
Administrative Agent, any other Lender, any Borrower or any other Person for
any reason whatsoever, (ii) the occurrence or continuance of a Default or
an Unmatured Default, (iii) any adverse change in the condition (financial
or otherwise) of any Borrower or any other Person, (iv) any breach of this
Agreement by any Borrower or any other Lender, (v) any inability of any
Borrower to satisfy the conditions precedent to borrowing set forth in this
Agreement on the date upon which any participation interest in any Loan is to
be purchased or (vi) any other circumstance, happening or event
whatsoever, whether or not similar to any of the foregoing.

 

2.25.        Funding of Participations in Dollars.  Any Lender may fund its purchase of a
participation in any Letter of Credit denominated in any currency other than
Dollars, by delivering to the Administrative Agent on the date such
participation is to be funded an amount in Dollars equal to the sum of (a) the
amount necessary for the Administrative Agent to purchase on such date in
accordance with its customary procedures an amount in the applicable currency
sufficient to fund such Lender’s required participation payment plus (b) the
reasonable and customary costs, fees and expenses of the Administrative Agent
in making such purchase.

 

ARTICLE III

YIELD PROTECTION; TAXES

 

3.1.          Yield Protection.  If, on or after the date of this Agreement,
the adoption of any law or any governmental or quasi-governmental rule,
regulation, policy, guideline or directive (whether or not having the force of
law), or any change in the interpretation or administration thereof by any
governmental or quasi-governmental authority, central bank or comparable agency
charged with the interpretation or administration thereof, or compliance by any
Lender, any applicable Lending Installation or any Issuer with any request or
directive (whether or not having the force of law) of any such authority,
central bank or comparable agency:

 

28

 

(a)           subjects any Lender, any applicable Lending
Installation or any Issuer to any Taxes, or changes the basis of taxation of
payments (other than with respect to Excluded Taxes) to any Lender or any
Issuer in respect of its Eurocurrency Loans or Letters of Credit or
participations therein;

 

(b)           imposes or increases or deems applicable any
reserve, assessment, insurance charge, special deposit or similar requirement
against assets of, deposits with or for the account of, or credit extended by,
any Lender, any applicable Lending Installation or any Issuer (other than
reserves and assessments taken into account in determining the interest rate
applicable to Eurocurrency Advances); or

 

(c)           imposes any other condition the result of
which is to increase the cost to any Lender, any applicable Lending
Installation or any Issuer of making, funding or maintaining its Eurocurrency
Loans or of issuing or participating in Letters of Credit or reduces any amount
receivable by any Lender, any applicable Lending Installation or any Issuer in
connection with its Eurocurrency Loans or Letters of Credit, or requires any
Lender, any applicable Lending Installation or any Issuer to make any payment
calculated by reference to the amount of Eurocurrency Loans or Letters of
Credit held or interest received by it, by an amount deemed material by such
Lender or such Issuer, as the case may be, and the result of any of the
foregoing is to increase the cost to such Lender, such applicable Lending
Installation or such Issuer of making or maintaining its Eurocurrency Loans,
Letters of Credit or Commitment or to reduce the return received by such
Lender, such applicable Lending Installation or such Issuer in connection with
such Eurocurrency Loans, Letters of Credit or Commitment, then, within 15 days
of demand by such Lender or such Issuer, the Borrowers shall pay such Lender or
such Issuer such additional amount or amounts as will compensate such Lender or
such Issuer for such increased cost or reduction in amount received.

 

3.2.          Availability of Types of Advances.  If any Lender determines that maintenance of
its Eurocurrency Loans at a suitable Lending Installation would violate any
applicable law, rule, regulation, or directive, whether or not having the force
of law, or if the Required Lenders determine that (i) deposits of a type,
currency and maturity appropriate to match fund Eurocurrency Advances are not
available or (ii) the interest rate applicable to Eurocurrency Advances
does not accurately reflect the cost of making or maintaining Eurocurrency
Advances, then the Administrative Agent shall suspend the availability of
Eurocurrency Advances and require any affected Eurocurrency Advances to be
repaid or, in the case of Advances to the Company, converted to Floating Rate
Advances, subject to the payment of any funding indemnification amounts
required by Section 3.3.

 

3.3.          Funding Indemnification.  If any payment of a Eurocurrency Advance
occurs on a date which is not the last day of the applicable Interest Period,
whether because of acceleration, prepayment or otherwise, or a Eurocurrency
Advance is not made on the date specified by the applicable Borrower for any
reason other than default by the Lenders, the Borrowers will jointly and
severally indemnify each Lender for any loss or cost incurred by it resulting
therefrom, including any loss or cost in liquidating or employing deposits
acquired to fund or maintain such Eurocurrency Advance.

 

29

 

3.4.          Taxes. 
(a)  All payments by the Borrowers to or for the account of any
Lender, any Issuer or the Administrative Agent hereunder or under any other
Loan Document shall be made free and clear of and without deduction for any and
all Taxes.  If any Borrower shall be
required by law to deduct any Taxes from or in respect of any sum payable
hereunder to any Lender, any Issuer or the Administrative Agent, (i) the
sum payable shall be increased as necessary so that after making all required
deductions (including deductions applicable to additional sums payable under
this Section 3.4) such Lender, such Issuer or the Administrative
Agent (as the case may be) receives an amount equal to the sum it would have
received had no such deductions been made, (ii) such Borrower shall make
such deductions, (iii) the Borrower shall pay the full amount deducted to
the relevant authority in accordance with applicable law and (iv) such
Borrower shall furnish to the Administrative Agent the original copy of a
receipt evidencing payment thereof within 30 days after such payment is made.

 

(b)           In addition, the Borrowers hereby agree to
pay any present or future stamp or documentary taxes and any other excise or
property taxes, charges or similar levies which arise from any payment made
hereunder or from the execution or delivery of, or otherwise with respect to,
this Agreement or any other Loan Document (“Other Taxes”).

 

(c)           The Borrowers jointly and severally hereby
agree to indemnify the Administrative Agent, each Lender and each Issuer for
the full amount of Taxes or Other Taxes (including any Taxes or Other Taxes
imposed on amounts payable under this Section 3.4) paid by the
Administrative Agent, such Lender or such Issuer as a result of its Commitment,
any Credit Extension made by it hereunder, or otherwise in connection with its
participation in this Agreement and any liability (including penalties,
interest and expenses) arising therefrom or with respect thereto.  Payments due under this indemnification shall
be made within 30 days of the date the Administrative Agent, such Lender or
such Issuer makes demand therefor pursuant to Section 3.5.

 

(d)           Each Lender that is not incorporated under
the laws of the United States of America or a state thereof (each a “Non-U.S.
Lender”) agrees that it will, not more than ten Business Days after the
date of this Agreement, (i) deliver to the Administrative Agent two duly
completed copies of United States Internal Revenue Service Form W-8BEN or
W-8ECI, certifying in either case that such Lender is entitled to receive
payments under this Agreement without deduction or withholding of any United
States federal income taxes, and (ii) deliver to the Administrative Agent
a United States Internal Revenue Form W-8 or W-9, as the case may be, and
certify that it is entitled to an exemption from United States backup
withholding tax.  Each Non-U.S. Lender
further undertakes to deliver to the Company and the Administrative Agent (x) renewals
or additional copies of such form (or any successor form) on or before the date
that such form expires or becomes obsolete, and (y) after the occurrence
of any event requiring a change in the most recent forms so delivered by it,
such additional forms or amendments thereto as may be reasonably requested by
the Company or the Administrative Agent. 
All forms or amendments described in the preceding sentence shall
certify that such Lender is entitled to receive payments under this Agreement
without deduction or withholding of any United States federal income taxes,
unless an event (including any change in treaty, law or regulation) has
occurred prior to the date on which any such delivery would otherwise be
required which renders all such forms inapplicable or which would prevent such
Lender from duly completing and delivering any such form or amendment with
respect to it and such Lender 

 

30

 

advises the Company and the Administrative Agent that it is not capable
of receiving payments without any deduction or withholding of United States
federal income tax.

 

(e)           For any period during which a Non-U.S.
Lender has failed to provide the Company with an appropriate form pursuant to clause
(d) above (unless such failure is due to a change in treaty, law or
regulation, or any change in the interpretation or administration thereof by
any governmental authority, occurring subsequent to the date on which a form
originally was required to be provided), such Non-U.S. Lender shall not be
entitled to indemnification under this Section 3.4 with respect to
Taxes imposed by the United States; provided that, should a Non-U.S.
Lender which is otherwise exempt from or subject to a reduced rate of
withholding tax become subject to Taxes because of its failure to deliver a
form required under clause (iv) above, the Borrowers shall take
such steps as such Non-U.S. Lender shall reasonably request to assist such
Non-U.S. Lender to recover such Taxes.

 

(f)            Any Lender that is entitled to an exemption
from or reduction of withholding tax with respect to payments under this
Agreement pursuant to the law of any relevant jurisdiction or any treaty shall
deliver to the Company (with a copy to the Administrative Agent), at the time
or times prescribed by applicable law, such properly completed and executed documentation
prescribed by applicable law as will permit such payments to be made without
withholding or at a reduced rate.

 

(g)           If the U.S. Internal Revenue Service or any
other governmental authority of the United States or any other country or any
political subdivision thereof asserts a claim that the Administrative Agent did
not properly withhold tax from amounts paid to or for the account of any Lender
(because the appropriate form was not delivered or properly completed, because
such Lender failed to notify the Administrative Agent of a change in
circumstances which rendered its exemption from withholding ineffective, or for
any other reason), such Lender shall indemnify the Administrative Agent fully
for all amounts paid, directly or indirectly, by the Administrative Agent as
tax, withholding therefor, or otherwise, including penalties and interest, and
including taxes imposed by any jurisdiction on amounts payable to the
Administrative Agent under this subsection, together with all costs and
expenses related thereto (including attorneys fees and time charges of
attorneys for the Administrative Agent, which attorneys may be employees of the
Administrative Agent).  The obligations
of the Lenders under this Section 3.4(g) shall survive the
payment of the Obligations and termination of this Agreement.

 

3.5.          Lender Statements; Survival of Indemnity.  To the extent reasonably possible, each
Lender shall designate an alternate Lending Installation with respect to its
Eurocurrency Loans to reduce any liability of the Borrowers to such Lender
under Sections 3.1, 3.3 and 3.4 or to avoid the
unavailability of Eurocurrency Advances under Section 3.2, so long
as such designation is not, in the judgment of such Lender, disadvantageous to
such Lender.  Each Lender and each Issuer
shall deliver a written statement to the Company (with a copy to the
Administrative Agent) as to the amount due, if any, under Section 3.1,
3.3 or 3.4.  Such written
statement shall set forth in reasonable detail the calculations upon which such
Lender or such Issuer determined such amount and shall be final, conclusive and
binding on the Borrowers in the absence of manifest error.  Determination of amounts payable under such
Sections in connection with a Eurocurrency Loan shall be calculated as though
the applicable Lender funded its Eurocurrency Loan through the purchase of a
deposit of the type, currency and maturity 

 

31

 

corresponding to the deposit used as a reference in determining the
Eurocurrency Rate applicable to such Loan, whether in fact that is the case or
not.  Unless otherwise provided herein,
the amount specified in the written statement of any Lender or any Issuer shall
be payable on demand after receipt by the Company of such written statement.  The obligations of the Borrowers under Sections
3.1, 3.3 and 3.4 shall survive payment of the Obligations and
termination of this Agreement.

 

ARTICLE IV

CONDITIONS PRECEDENT

 

4.1.          Effectiveness.  This Agreement shall become effective on the
date (the “Effective Date”) on which (i) no Default or Unmatured
Default exists, (ii) the representations and warranties set forth in Article V
are true and correct; and (iii) the Company has furnished to the
Administrative Agent with sufficient copies for the Lenders:

 

(a)           Copies of the articles or certificate of
incorporation (or similar formation documents) of the Company, together with
all amendments, and a certificate of good standing, each certified by the
appropriate governmental officer in its jurisdiction of formation, as well as
any other information required by Section 326 of the USA Patriot Act or
necessary for the Administrative Agent or any Lender to verify the identity of
the Company as required by Section 326 of the USA Patriot Act.

 

(b)           Copies, certified by the Secretary or an
Assistant Secretary of the Company, of its by-laws and of the resolutions of
its Board of Directors and of resolutions or actions of any other body
authorizing the execution of the Loan Documents to which the Company is a party.

 

(c)           An incumbency certificate, executed by the
Secretary or an Assistant Secretary of the Company, which shall identify by
name and title and bear the signatures of the Authorized Officers and any other
officers of the Company authorized to sign the Loan Documents to which the
Company is a party, upon which certificate the Administrative Agent and the
Lenders shall be entitled to rely until informed of any change in writing by
the Company.

 

(d)           A certificate, signed by the chief financial
officer of the Company, stating that on the date of the initial Credit
Extension, no Default or Unmatured Default has occurred and is continuing.

 

(e)           A written opinion of counsel to the Company,
addressed to the Lenders and in substance reasonably acceptable to the
Administrative Agent.

 

(f)            Certified copies of all required consents
and approvals from third parties, including governmental approvals, with
respect to the execution and delivery by the Company of, and the performance by
the Company of its obligations under, each Loan Document to which it is a
party.

 

(g)           A Borrowing Subsidiary Confirmation, in
substantially the form of Exhibit C, duly executed by each
Borrowing Subsidiary which executed a Borrowing Subsidiary Agreement under the
Existing Agreement.

 

32

 

(h)           Such other documents as any Lender or its
counsel may have reasonably requested.

 

4.2.          Each Credit Extension.  The Lenders shall not be required to make any
Credit Extension unless on the applicable Borrowing Date or issuance date:

 

(a)           There exists no Default or Unmatured
Default.

 

(b)           The representations and warranties contained
in Article V (other than (i) the representation and warranty
in Section 5.4 and (ii) solely with respect to Credit
Extensions the proceeds of which will be used to pay maturing commercial paper
of the Company, the representation and warranty in Section 5.5) are
true and correct as of such Borrowing Date or issuance date except to the
extent any such representation or warranty is stated to relate solely to an
earlier date, in which case such representation or warranty shall have been
true and correct on and as of such earlier date.

 

(c)           All legal matters incident to the making of
such Credit Extension shall be satisfactory to the Lenders and their counsel.

 

Each delivery
of a Borrowing Notice and each request for the issuance of a Letter of Credit
shall constitute a representation and warranty by the applicable Borrower (and,
if the Company is not the Borrower, by the Company) that the conditions
contained in Sections 4.2(a) and (b) have been
satisfied.  Any Lender may require a duly
completed compliance certificate in substantially the form of Exhibit A
as a condition to making a Credit Extension.

 

4.3.          Initial Loans to a Borrowing Subsidiary.  The Lenders shall not be required to make
Loans to any Borrowing Subsidiary unless (i) the conditions precedent set
forth in Sections 4.1 and 4.2 have been satisfied and (ii) such
Borrowing Subsidiary has furnished to the Administrative Agent with sufficient
copies for the Lenders:

 

(a)           Copies of the articles or certificate of
incorporation (or similar formation documents) of such Borrowing Subsidiary,
together with all amendments, and (to the extent applicable) a certificate of
good standing, each certified by the appropriate governmental officer in its
jurisdiction of formation, as well as any other information required by Section 326
of the USA Patriot Act or necessary for the Administrative Agent or any Lender
to verify the identity of such Borrowing Subsidiary as required by Section 326
of the USA Patriot Act.

 

(b)           Copies, certified by the Secretary or
Assistant Secretary of such Borrowing Subsidiary, of its by-laws (or similar
governing document) and of the resolutions of its Board of Directors (or
similar governing body) and of resolutions or actions of any other body
authorizing the execution of the Loan Documents to which such Borrowing
Subsidiary is a party.

 

(c)           An incumbency certificate, executed by the
Secretary or Assistant Secretary (or comparable officer) of such Borrowing
Subsidiary, which shall identify by name and title and bear the signatures of
the officers of such Borrowing Subsidiary authorized to sign the Loan Documents
to which such Borrowing Subsidiary is a party, upon which certificate the
Administrative Agent and the Lenders shall be entitled to rely until informed
of any change in writing by such Borrowing Subsidiary.

 

33

 

(d)           A written opinion of counsel to such
Borrowing Subsidiary, addressed to the Lenders and in substance reasonably
acceptable to the Administrative Agent.

 

(e)           Certified copies of all required consents
and approvals from third parties, including governmental approvals, with
respect to the execution and delivery by such Borrowing Subsidiary of, and the
performance by such Borrowing Subsidiary of its obligations under, the Loan
Documents to which it is a party.

 

(f)            Such other documents as any Lender or its
counsel may have reasonably requested.

 

ARTICLE V

REPRESENTATIONS AND WARRANTIES

 

The Company
represents and warrants to the Lenders that:

 

5.1.          Corporate Existence and Power.  Each of the Company and each Material
Subsidiary is duly organized, validly existing, and in good standing, under the
laws of the jurisdiction of its formation, has all power and authority to carry
on its business as now being conducted and to own its properties and is duly
licensed or qualified and in good standing in each other jurisdiction in which
its properties are located or in which failure to qualify would materially and
adversely affect the conduct of its business or the enforceability of
contractual rights of the Company or such Subsidiary.

 

5.2.          Corporate Authorization.  The execution, delivery and performance by
each Borrower of this Agreement and the other Loan Documents to which such
Borrower is a party are within such Borrower’s corporate or other company
power, have been duly authorized by all necessary corporate or other company
action and will not contravene, or constitute a default under, any provision of
applicable law or regulation or of the certificate or articles of incorporation
(or similar formation document) or by-laws (or similar governing document) of
such Borrower, or of any judgment, order, decree, agreement or instrument
binding on such Borrower or result in the creation of any Lien upon any of its
property or assets.

 

5.3.          Binding Effect.  This Agreement constitutes, and the other
Loan Documents to which any Borrower is a party when duly executed on behalf of
such Borrower and delivered in accordance with this Agreement will constitute,
the valid and binding obligations of such Borrower, enforceable against such
Borrower in accordance with their respective terms.

 

5.4.          Financial Statements.

 

(a)           The consolidated balance sheet of the
Company and its Consolidated Subsidiaries as at December 31, 2007 and the
related consolidated statements of income and cash flows of the Company and its
Consolidated Subsidiaries for the fiscal year then ended, certified by PriceWaterhouseCoopers,
LLP, certified public accountants, and set forth in the Company’s 2007 Form 10-K,
a copy of which has been delivered to each of the Lenders, fairly present, in
conformity with generally accepted accounting principles, the consolidated financial
position of the Company and its Consolidated Subsidiaries at such date and the
consolidated results of operations for such fiscal year.

 

34

 

(b)           No material adverse change has occurred in
the financial position, results of operations or business of the Company and
its Consolidated Subsidiaries since December 31, 2007.

 

5.5.          Litigation and Contingent Liabilities.  There are no actions, suits or proceedings
pending against or, to the knowledge of the Company, threatened against or
affecting the Company or any Subsidiary in any court or before or by any
governmental department, agency or instrumentality which could reasonably be
expected to have a Material Adverse Effect. 
Other than any liability incident to such litigation or proceedings,
neither the Company nor any Subsidiary has any contingent liabilities which are
material to the Company and its Subsidiaries taken as a whole and which are not
provided for or disclosed in Schedule 5.5.

 

5.6.          Taxes. 
The Company and each of its Subsidiaries has filed (or has obtained
extensions of the time by which it is required to file) all United States
federal income tax returns and all other material tax returns required to be
filed by it and has paid all taxes shown due on the returns so filed as well as
all other taxes, assessments and governmental charges which have become due,
except (a) such taxes, if any, as are being contested in good faith and as
to which adequate reserves have been provided and (b) other taxes that do
not at any time exceed $1,000,000 in the aggregate.

 

5.7.          Governmental and other Approvals.  No approval, consent or authorization of or
filing or registration with any governmental authority or body is necessary for
the execution, delivery or performance by any Borrower of this Agreement or the
other Loan Documents to which such Borrower is a party or for the performance
by such Borrower of any of the terms or conditions hereof or thereof, except
for such approvals, consents or authorizations (copies of which have been
delivered to the Lenders) as have been obtained and are in full force and
effect.

 

5.8.          Compliance with ERISA.  Each member of the Controlled Group has
fulfilled its obligations under the minimum funding standards of ERISA and the
Code with respect to each Plan and is in compliance in all material respects
with the presently applicable provisions of ERISA and the Code, and has not
incurred liabilities which are due and payable aggregating in excess of
$5,000,000 to the PBGC or a Plan under Title IV of ERISA.

 

5.9.          Environmental Matters.  In the ordinary course of its business, the
Company conducts an ongoing review of the effect of Environmental Laws on the
business, operations and properties of the Company and its Subsidiaries, in the
course of which it identifies and evaluates associated liabilities and costs
(including any capital or operating expenditures required for clean-up or
closure of properties presently or previously owned, any capital or operating
expenditures required to achieve or maintain compliance with environmental
protection standards imposed by law or as a condition of any license, permit or
contract, any related constraints on operating activities, including any
periodic or permanent shutdown of any facility or reduction in the level of or
change in the nature of operations conducted thereat, any costs or liabilities
in connection with off-site disposal of wastes or Hazardous Substances, and any
actual or potential liabilities to third parties, including employees, and any
related costs and expenses).  On the
basis of such review, the Company has reasonably concluded that such associated
liabilities and costs, including the costs of compliance with Environmental
Laws, are unlikely to have a Material Adverse Effect.

 

35

 

5.10.        Ownership of Properties; Liens.  The Company and its Subsidiaries own good and
marketable title to, or a valid leasehold interest in, all Properties which are
material to the Company and its Subsidiaries taken as a whole, real and
personal, tangible and intangible, of any nature whatsoever (including patents,
trademarks, trade names, service marks and copyrights), free and clear of all
Liens, charges and claims (including infringement claims with respect to
patents, trademarks, copyrights and the like) except as permitted pursuant to Section 6.11.

 

5.11.        Subsidiaries.  As of the date hereof, the Company has no
Subsidiaries except those listed in Schedule 5.11, and each Subsidiary
which is a Material Subsidiary is designated thereon.

 

5.12.        Investment Company Act.  Neither the Company nor any Subsidiary is an “investment
company” or a company “controlled” by an “investment company”, within the
meaning of the Investment Company Act of 1940.

 

5.13.        Regulation U.  No Borrower is engaged principally, or as one
of its important activities, in the business of extending credit for the
purpose of purchasing or carrying margin stock.

 

5.14.        Accuracy of Disclosure.  All information heretofore or
contemporaneously herewith furnished by the Company or any Subsidiary to the
Administrative Agent or any Lender for purposes of or in connection with this
Agreement and the transactions contemplated hereby is, and all information
hereafter furnished by or on behalf of the Company or any Subsidiary to the
Administrative Agent or any Lender pursuant hereto or in connection herewith
will be, when taken together, true and accurate in every material respect on
the date as of which such information is dated or certified, and none of such
information is or will be incomplete by omitting to state any material fact
necessary to make such information not misleading.

 

5.15.        No Burdensome Restrictions.  Neither the Company nor any Subsidiary is a
party to any agreement or instrument or subject to any other obligation or any
charter or corporate restriction or any provision of any applicable law, rule or
regulation which, individually or in the aggregate, could reasonably be
expected to have a Material Adverse Effect.

 

ARTICLE VI

COVENANTS

 

During the
term of this Agreement, unless the Required Lenders shall otherwise consent in
writing:

 

6.1.          Financial Statements.  The Company will deliver, or caused to be
delivered, to each of the Lenders:

 

(a)           as soon as available and in any event within
120 days after the end of each fiscal year of the Company (or, if earlier, 30
days after the date customarily required to be filed by the Company with the
Securities and Exchange Commission), a consolidated balance sheet of the
Company and its Consolidated Subsidiaries as at the end of such year, and
consolidated statements of income and cash flows of the Company and its
Consolidated Subsidiaries for such year, setting forth in each case in
comparative form corresponding consolidated figures from the 

 

36

 

preceding fiscal year, all reported on in a manner acceptable to the
Securities and Exchange Commission by PriceWaterhouseCoopers, LLP or other
independent certified public accountants of nationally recognized standing;

 

(b)           as soon as available and in any event within
45 days after the end of each of the first three quarters of each fiscal year
of the Company (or, if earlier, 15 days after the date required to be filed by
the Company with the Securities and Exchange Commission), a consolidated
balance sheet of the Company and its Consolidated Subsidiaries as at the end of
such quarter and the related consolidated statements of income and cash flow of
the Company and its Consolidated Subsidiaries for such quarter and for the
portion of the Company’s fiscal year ended at the end of such quarter setting
forth in each case in comparative form the figures for the corresponding
quarter and the corresponding portion of the Company’s previous fiscal year,
all certified (subject to normal year-end adjustments) as to fairness of
presentation, generally accepted accounting principles and consistency by the
chief financial officer or the chief accounting officer of the Company;

 

(c)           simultaneously with the delivery of each set
of financial statements referred to in clauses (a) and (b) above,
a certificate of the chief financial officer or the chief accounting officer of
the Company (i) setting forth in reasonable detail the calculations
required to establish whether the Company was in compliance with the
requirements of Sections 6.9 and 6.10 on the date of such
financial statements and (ii) stating whether there exists on the date of
such certificate any Default or Unmatured Default and, if any Default or
Unmatured Default exists, setting forth the details thereof and the action
which the Company is taking or proposes to take with respect thereto;

 

(d)           simultaneously with the delivery of each set
of financial statements referred to in clause (a) above, a
statement of the firm of independent public accountants which reported on such
statements (i) to the effect that nothing has come to their attention to
cause them to believe that there existed on the date of such statements any
Default or Unmatured Default and (ii) confirming the calculations set
forth in the officer’s certificate delivered simultaneously therewith pursuant
to clause (c) above;

 

(e)           forthwith upon the occurrence of any Default
or Unmatured Default, a certificate of the chief financial officer or the chief
accounting officer of the Company setting forth the details thereof and the
action which the Company is taking or proposes to take with respect thereto;

 

(f)            promptly upon the mailing thereof to the
shareholders of the Company generally, copies of all financial statements,
reports and proxy statements so mailed;

 

(g)           promptly upon the filing thereof, copies of
all registration statements (other than the exhibits thereto and any
registration statements on Form S-8 or its equivalent) and annual,
quarterly or monthly reports which the Company shall have filed with the
Securities and Exchange Commission;

 

(h)           if and when any member of the Controlled
Group (i) receives notice of complete or partial withdrawal liability or
liabilities aggregating in excess of $5,000,000 under Title IV of 

 

37

 

ERISA, a copy of such notice; or (ii) receives notice from the
PBGC under Title IV of ERISA of an intent to terminate or appoint a trustee to
administer any Plan or Plans having aggregate Unfunded Vested Liabilities in
excess of $5,000,000, a copy of such notice;

 

(i)            if at any time the value of all “margin
stock” (as defined in Regulation U) owned by the Company and its Consolidated
Subsidiaries exceeds (or would, following application of the proceeds of an
intended Credit Extension hereunder, exceed) 25% of the value of the total
assets of the Company and its Consolidated Subsidiaries, in each case as
reasonably determined by the Company, prompt notice of such fact and, promptly
upon the request of any Lender, a duly completed statement of purpose on Form U-1
for each Lender together with such other information or documents as each
Lender may be required to obtain under Regulation U in connection with this
Agreement; and

 

(j)            from time to time such additional
information regarding the financial position or business of the Company or any
Subsidiary as the Administrative Agent at the request of any Lender may
reasonably request.

 

6.2.          Maintenance of Existence.  Except as permitted by Section 6.12,
the Company will, and will cause each Subsidiary to, (a) preserve and
maintain its corporate existence and all of its rights, privileges and
franchises necessary or desirable in the normal conduct of its business and (b) conduct
its business in a regular manner.

 

6.3.          Books and Records; Maintenance of
Properties; Inspections.

 

(a)           The Company will keep, and will cause each
Subsidiary to keep, its books and records in accordance with sound business
practices sufficient to allow the Company to prepare its financial statements
in accordance with GAAP.

 

(b)           The Company will, and will cause each
Subsidiary to, keep all of its properties necessary, in the judgment of the
Board of Directors of the Company, in its business in good working order and
condition, ordinary wear and tear excepted, and will permit representatives of
the Lenders to inspect such properties, and to examine and make extracts from
the books and records of the Company or any Subsidiary, during normal business
hours.

 

6.4.          Compliance with Laws and Contractual
Obligations.  The Company will, and
will cause each Subsidiary to, comply with the requirements of (a) all
applicable laws, rules, regulations and orders of any governmental body or
regulatory agency having jurisdiction and (b) any agreement or instrument
binding upon such Person, a breach of which could have a material adverse
effect on the consolidated financial condition or the business taken as a whole
of the Company and its Subsidiaries, except where contested in good faith and by
proper proceedings.

 

6.5.          Notice of Proceedings.  The Company will promptly give notice in
writing to each Lender of all litigation, arbitral proceedings and regulatory
proceedings affecting the Company or any Subsidiary or the property of the
Company or any Subsidiary, except litigation or proceedings which, if adversely
determined, could not materially and adversely affect the consolidated
financial condition or the business taken as a whole of the Company and its
Subsidiaries.

 

38

 

6.6.          Use of Proceeds.  The Company will, and will cause each other
Borrower to, use the proceeds of the applicable Credit Extensions for
commercial paper back-up and other general company purposes of the Company and
its Subsidiaries (including non-hostile acquisitions to the extent permitted
hereunder).  The Company will not, and
will not permit any other Borrower to, use any part of the proceeds of any
Credit Extension hereunder to purchase or carry any margin stock or to extend
credit to others for the purpose of purchasing or carrying any margin
stock.  If requested by any Lender, the
Company will, and will cause each Borrowing Subsidiary to, furnish to any
Lender in connection with any Loan hereunder a statement in conformity with the
requirements of Federal Reserve Form U-1 referred to in Regulation U.

 

6.7.          Payment of Taxes.  The Company will, and will cause each
Subsidiary to, pay and discharge all taxes, assessments and governmental
charges or levies imposed on it or on its income or profits or on any of its
property prior to the date on which penalties attach thereto, except taxes,
assessments, charges or levies (a) the payment of which is being contested
in good faith and by proper proceedings and against which it is maintaining
adequate reserves or (b) that do not at any time exceed $1,000,000 in the
aggregate.

 

6.8.          Insurance.  The Company will, and will cause each
Subsidiary to, maintain insurance with responsible companies in such amounts
and against such risks as is usually carried by owners of similar businesses
and properties in the same general areas in which the Company and its
Subsidiaries operate.

 

6.9.          Maximum Consolidated Debt to Total Capital
Ratio.  The Company will not permit
the ratio of Consolidated Debt to Total Capital (expressed as a percentage) at
any time to exceed 55%.

 

6.10.        Minimum Consolidated Net Worth.  The Company will not permit Consolidated Net
Worth at any time to be less than $1,250,000,000.

 

6.11.        Liens. 
Neither the Company nor any Subsidiary will create, assume or suffer to
exist any Lien securing Debt on any asset now owned or hereafter acquired by
it, except for:

 

(a)           Liens existing on the date hereof securing
Debt outstanding on the date hereof;

 

(b)           any Lien existing on any asset of any entity
at the time such entity becomes a Subsidiary and not created in contemplation
of such event;

 

(c)           any Lien on any asset securing Debt incurred
or assumed for the purpose of financing all or any part of the cost of
acquiring such asset; provided that such Lien attaches to such asset
concurrently with or within 90 days after the acquisition thereof;

 

(d)           any Lien on any asset of any entity existing
at the time such entity is merged into or consolidated with the Company or a
Subsidiary and not created in contemplation of such event;

 

(e)           any Lien existing on any asset prior to the
acquisition thereof by the Company or a Subsidiary and not created in
contemplation of such acquisition;

 

39

 

(f)            any Lien arising out of the refinancing,
extension, renewal or refunding of any Debt secured by any Lien permitted by
any of the foregoing clauses of this Section; provided that such Debt is
not increased and is not secured by any additional assets;

 

(g)           any Lien arising pursuant to any order of
attachment, distraint or similar legal process arising in connection with court
proceedings so long as the execution or other enforcement thereof is
effectively stayed and the claims secured thereby are being contested in good
faith by appropriate proceedings; and

 

(h)           Liens not otherwise permitted by the
foregoing clauses of this Section securing Debt in aggregate principal
amount not to exceed 4% of the consolidated assets of the Company and its
Consolidated Subsidiaries at any time outstanding.

 

6.12.        Consolidations, Mergers and Sales of Assets.  The Company will not, and will not permit any
other Borrower to consolidate or merge with or into, or acquire substantially
all of the assets of, any other Person unless (a) in the case of a merger
or consolidation, the Company or such other Borrower shall be the surviving
entity, and (b) the board of directors (or similar governing body) of such
other Person shall have approved such consolidation, merger or acquisition.  The Company will not permit the sale, lease
or other transfer to any other Person (other than to the Company and its
Subsidiaries and excluding sales, leases or other transfers in the ordinary
course of business) of assets of the Company or its Subsidiaries (valued at net
book value) exceeding 15% or more of the consolidated assets of the Company and
its Consolidated Subsidiaries as of the end of the immediately preceding fiscal
year of the Company.

 

6.13.        Transactions with Affiliates.  The Company will not, and will not permit any
Subsidiary to, enter into or permit to exist any transaction, arrangement or
contract with any of its Affiliates (other than the Company and its
Subsidiaries) which is on terms which are less favorable than are obtainable from
a Person which is not one of its Affiliates.

 

6.14.        Business.  The Company will not, and will not permit any
Subsidiary to, enter into any material business other than the businesses in
which the Company and its Subsidiaries are engaged on the date of this
Agreement and reasonable extensions thereof.

 

6.15.        Burdensome Agreements.  The Company will not, and will not permit any
Subsidiary to, enter into any agreement, instrument or other contractual
obligation (other than this Agreement or any other Loan Document) that (a) limits
the ability of any of its Subsidiaries to (i) pay dividends and other
distributions to the Company or otherwise transfer property to the Company; (ii) guarantee
any Debt of the Company or (iii) to create, incur, assume or suffer to exist
Liens in favor of the Administrative Agent, for the benefit of the Lenders; or (b) requires
the grant of a Lien to secure an obligation of such Person if a Lien is granted
to secure another obligation of such Person.

 

40

 

ARTICLE VII

DEFAULTS

 

The occurrence
of any one or more of the following events shall constitute a Default:

 

7.1.          Any representation or warranty made or deemed
made by or on behalf of the Company or any of its Subsidiaries to the Lenders
or the Administrative Agent under or in connection with this Agreement, any
Credit Extension, or any certificate or information delivered in connection
with this Agreement or any other Loan Document shall be materially false on the
date as of which made.

 

7.2.          Nonpayment of principal of any Loan when due,
nonpayment of any Reimbursement Obligation within one Business Day after the
same becomes due or nonpayment of interest upon any Loan or of any facility fee
or other obligation under any of the Loan Documents within five days after the
same becomes due.

 

7.3.          The breach by the Company of any of the terms
or provisions of Section 6.1(e) or Sections 6.9 through
6.15 (inclusive)

 

7.4.          The breach by any Borrower (other than a
breach which constitutes a Default under another Section of this Article VII)
of any of the terms or provisions of this Agreement which is not remedied
within 30 days after written notice thereof has been given to the Company by
the Administrative Agent at the request of any Lender.

 

7.5.          Failure by any Company or any Subsidiary to (i) pay
any Debt (other than the Loans) when due or interest thereon and such failure
shall continue for more than any applicable period of grace with respect
thereto, or (ii) observe or perform any term, covenant or agreement
contained in any agreement or instrument (other than this Agreement or any
other Loan Document) by which it is bound evidencing or securing or relating to
any Debt, if the effect thereof is to permit (or, with the giving of notice or
lapse of time or both, would permit) the holder or holders thereof or of any
obligations issued thereunder or a trustee or trustees acting on behalf of such
holder or holders to cause acceleration of the maturity thereof or of any such
obligation; provided that the aggregate amount of Debt with respect to
which any such event or condition shall have occurred shall equal or exceed
$10,000,000 (or the equivalent thereof in currencies other than Dollars).

 

7.6.          The Company, any other Borrower or any
Material Subsidiary shall commence a voluntary case or other proceeding seeking
liquidation, reorganization or other relief with respect to itself or its debts
under any bankruptcy, insolvency or other similar law now or hereafter in
effect or seeking the appointment of a trustee, receiver, liquidator, custodian
or other similar official of it or any substantial part of its property, or
shall consent to any such relief or to the appointment of or taking possession
by any such official in an involuntary case or other proceeding commenced
against it, or shall make a general assignment for the benefit of creditors, or
shall fail generally to pay its debts as they become due, or shall take any
corporate action to authorize any of the foregoing.

 

7.7.          An involuntary case or other proceeding shall
be commenced against the Company, any other Borrower or any Material Subsidiary
seeking liquidation, reorganization or other relief with respect to it or its
debts under any bankruptcy, insolvency or other similar law now or hereafter in
effect or seeking the appointment of a trustee, receiver, liquidator, custodian
or other similar official of it or any substantial part of its property, and
such involuntary case or other proceeding shall remain undismissed and unstayed
for a period of 60 days; or an order for 

 

41

 

relief shall be entered against the Company, any other Borrower or any
Material Subsidiary under the federal bankruptcy laws as now or hereafter in
effect.

 

7.8.          Any court, government or governmental agency
shall condemn, seize or otherwise appropriate, or take custody or control of,
all or any portion of the Property of the Company and its Subsidiaries which,
when taken together with all other Property of the Company and its Subsidiaries
so condemned, seized, appropriated, or taken custody or control of, during the
twelve-month period ending with the month in which any such action occurs,
constitutes a Substantial Portion.

 

7.9.          The Company or any of its Subsidiaries shall
fail within 30 days to pay, bond or otherwise discharge one or more (i) final
judgments or orders for the payment of money in excess of $10,000,000 (or the
equivalent thereof in currencies other than Dollars) in the aggregate, or (ii) nonmonetary
final judgments or orders which, individually or in the aggregate, could
reasonably be expected to have a Material Adverse Effect, which judgment(s), in
any such case, is/are not stayed on appeal or otherwise being appropriately
contested in good faith.

 

7.10.        The Company or any other member of the
Controlled Group shall fail to pay when due any amount or amounts aggregating
in excess of $5,000,000 which it shall have become liable to pay to the PBGC or
to a Plan under Title IV of ERISA; or notice of intent to terminate a Plan or
Plans having aggregate Unfunded Vested Liabilities in excess of $5,000,000
shall be filed under Title IV of ERISA by any member of the Controlled Group,
any plan administrator or any combination of the foregoing; or the PBGC shall
institute proceedings under Title IV of ERISA to terminate or to cause a
trustee to be appointed to administer any Plan or Plans having aggregate
Unfunded Vested Liabilities in excess of $5,000,000 or a proceeding shall be
instituted by a fiduciary of any Plan against any member of the Controlled
Group to enforce Section 515 of ERISA with respect to any amount or
amounts aggregating in excess of $5,000,000 and such proceeding shall not have
been dismissed within 30 days thereafter; or a condition shall exist by reason
of which the PBGC would be entitled to obtain a decree adjudicating that any
Plan or Plans having aggregated Unfunded Vested Liabilities in excess of
$5,000,000 must be terminated.

 

7.11.        Any Change in Control shall occur.

 

7.12.        The occurrence of any “default”, as defined in
any Loan Document (other than this Agreement) or the breach of any of the terms
or provisions of any Loan Document (other than this Agreement), which default
or breach continues beyond any period of grace therein provided.

 

7.13.        Any Loan Document shall fail to remain in full
force or effect or any action shall be taken to discontinue or to assert the
invalidity or unenforceability of any Loan Document, or the Company or any
other Borrower shall fail to comply with any of the terms or provisions of any
Loan Document to which it is a party, or the Company or any other Borrower
shall deny that it has any further liability under any Loan Document to which
it is a party, or shall give notice to such effect.

 

42

 

ARTICLE VIII

ACCELERATION, WAIVERS, AMENDMENTS AND REMEDIES

 

8.1.          Acceleration.  If any Default described in Section 7.6
or 7.7 occurs with respect to any Borrower, the obligations of the
Lenders to make Loans hereunder and the obligation and power of the Issuers to
issue Letters of Credit shall automatically terminate and the Obligations shall
immediately become due and payable without any election or action on the part
of the Administrative Agent, any Lender or any Issuer and each Borrower will be
and become thereby unconditionally obligated, without any further notice, act
or demand, to pay to the Administrative Agent an amount in immediately
available funds, which funds shall be held in the applicable LC Collateral
Account, equal to the excess of the amount of Letter of Credit Obligations of
such Borrower at such time over the amount on deposit in such LC Collateral
Account at such time which is free and clear of all rights and claims of third
parties and has not been applied against the Obligations (such difference, the “Collateral
Shortfall Amount”).  If any other
Default occurs, the Administrative Agent may with the consent, or shall at the
request, of the Required Lenders, (x) terminate or suspend the obligations
of the Lenders to make Loans hereunder and the obligation and power of the
Issuer to issue Letters of Credit, or declare the Obligations to be due and
payable, or both, whereupon the Obligations shall become immediately due and
payable, without presentment, demand, protest or notice of any kind, all of
which each Borrower hereby expressly waives, and (y) upon notice to the
Company and in addition to the continuing right to demand payment of all
amounts payable under this Agreement, make demand on the Borrowers to pay, and
each applicable Borrower will, forthwith upon such demand and without any
further notice or act, pay to the Administrative Agent in immediately available
funds the Collateral Shortfall Amount for such Borrower, which funds shall be
deposited in the applicable LC Collateral Account.

 

If, within 30
days after acceleration of the maturity of the Obligations or termination of
the obligations of the Lenders to make Loans hereunder as a result of any
Default (other than any Default as described in Section 7.6 or 7.7
with respect to any Borrower) and before any judgment or decree for the payment
of the Obligations due shall have been obtained or entered, the Required
Lenders (in their sole discretion) shall so direct, the Administrative Agent
shall, by notice to the Borrowers, rescind and annul such acceleration and/or
termination.

 

8.2.          Amendments.  Subject to the provisions of this Section 8.2,
the Required Lenders (or the Administrative Agent with the consent in writing
of the Required Lenders) and the Borrowers may enter into agreements
supplemental hereto for the purpose of adding or modifying any provisions to
the Loan Documents or changing in any manner the rights of the Lenders or the
Borrowers hereunder or waiving any Default hereunder; provided that no
such supplemental agreement shall:

 

(a)           without the consent of each Lender affected
thereby, (i) extend the final maturity of any Loan or forgive all or any
portion of the principal amount thereof, or reduce the rate or extend the time
of payment of interest or fees thereon, (ii) reduce the amount or extend
the payment date for, the mandatory payments required under Section 2.2
or (iii) increase the amount of the Commitment of any Lender hereunder;
and

 

43

 

(b)           without the consent of all of the Lenders, (i) reduce
the percentage specified in the definition of Required Lenders, (ii) permit
any Borrower to assign its rights under this Agreement, (iii) amend this Section 8.2
or (iv) release the Company from its obligations under Article XV
of this Agreement.

 

No amendment
of any provision of this Agreement relating to the Administrative Agent shall
be effective without the written consent of the Administrative Agent, and no
amendment of any provision of this Agreement relating to any Issuer shall be
effective without the written consent of such Issuer.  The Administrative Agent may waive payment of
the fee required under Section 12.1(b)  without obtaining the
consent of any other party to this Agreement.

 

8.3.          Preservation of Rights.  No delay or omission of the Lenders, the
Issuers or the Administrative Agent to exercise any right under the Loan
Documents shall impair such right or be construed to be a waiver of any Default
or an acquiescence therein, and the making of a Credit Extension
notwithstanding the existence of a Default or the inability of the Borrowers to
satisfy the conditions precedent to such Credit Extension shall not constitute
any waiver or acquiescence.  Any single
or partial exercise of any such right shall not preclude other or further
exercise thereof or the exercise of any other right, and no waiver, amendment
or other variation of the terms, conditions or provisions of the Loan Documents
whatsoever shall be valid unless in writing signed by the Lenders required
pursuant to Section 8.2, and then only to the extent in such
writing specifically set forth.  All
remedies contained in the Loan Documents or by law afforded shall be cumulative
and all shall be available to the Administrative Agent, the Lenders and the
Issuers until the Obligations have been paid in full.

 

ARTICLE IX

GENERAL PROVISIONS

 

9.1.          Survival of Representations.  All representations and warranties of the
Borrowers contained in this Agreement shall survive the making of the Credit
Extensions herein contemplated.

 

9.2.          Governmental Regulation.  Anything contained in this Agreement to the
contrary notwithstanding, no Lender shall be obligated to extend credit to the
Borrowers in violation of any limitation or prohibition provided by any
applicable statute or regulation.

 

9.3.          Headings.  Section headings in the Loan Documents
are for convenience of reference only, and shall not govern the interpretation
of any of the provisions of the Loan Documents.

 

9.4.          Entire Agreement.  The Loan Documents embody the entire
agreement and understanding among the Borrowers, the Administrative Agent, the
Lenders and the Issuers and supersede all prior agreements and understandings
among the Borrowers, the Administrative Agent, the Lenders and the Issuers
relating to the subject matter thereof other than those contained in the fee
letter described in Section 10.13 which shall survive and remain in
full force and effect during the term of this Agreement.

 

9.5.          Several Obligations; Benefits of this
Agreement.  The respective
obligations of the Lenders hereunder are several and not joint and no Lender
shall be the partner or agent of any 

 

44

 

other (except to the extent to which the Administrative Agent is
authorized to act as such).  The failure
of any Lender to perform any of its obligations hereunder shall not relieve any
other Lender from any of its obligations hereunder.  This Agreement shall not be construed so as
to confer any right or benefit upon any Person other than the parties to this
Agreement and their respective successors and assigns; provided that the
parties hereto expressly agree that the Arranger shall enjoy the benefits of
the provisions of Sections 9.6, 9.10 and 10.8 to the
extent specifically set forth therein and shall have the right to enforce such
provisions on its own behalf and in its own name to the same extent as if it
were a party to this Agreement.

 

9.6.          Expenses; Indemnification.  (a)  The Borrowers shall jointly and
severally reimburse the Administrative Agent and JPMorgan for any costs,
internal charges and out-of-pocket expenses (including attorneys’ fees and time
charges of attorneys for the Administrative Agent, which attorneys may be
employees of the Administrative Agent) paid or incurred by the Administrative
Agent or JPMorgan in connection with the preparation, negotiation, execution,
delivery, syndication, distribution (including via the internet), review,
amendment, modification, and administration of the Loan Documents.  The Borrowers also jointly and severally
agree to reimburse the Administrative Agent, the Arrangers, the Lenders and the
Issuers for any costs, internal charges and out-of-pocket expenses (including
attorneys’ fees and time charges of attorneys for the Administrative Agent, the
Arrangers, the Lenders and the Issuers, which attorneys may be employees of the
Administrative Agent, the Arrangers, the Lenders or the Issuers) paid or
incurred by the Administrative Agent, either Arranger, any Lender or any Issuer
in connection with the collection and enforcement of the Loan Documents.  Expenses being reimbursed by the Borrowers
under this Section include costs and expenses incurred in connection with
the Reports described in the following sentence.  The Borrowers acknowledge that from time to
time JPMCB may prepare and may distribute to the Lenders (but shall have no
obligation or duty to prepare or to distribute to the Lenders) certain audit
reports (the “Reports”) pertaining to the Borrowers’ assets for internal
use by JPMCB from information furnished to it by or on behalf of the Borrowers,
after JPMCB has exercised its rights of inspection pursuant to this Agreement.

 

(b)           The Borrowers hereby further jointly and
severally agree to indemnify the Administrative Agent, each Arranger, each
Lender and each Issuer and their respective affiliates, and each of their
Related Parties against all losses, claims, damages, penalties, judgments,
liabilities and expenses (including all expenses of litigation or preparation
therefor whether or not the Administrative Agent, either Arranger, any Lender,
any Issuer or any affiliate is a party thereto) which any of them may pay or
incur arising out of or relating to this Agreement, the other Loan Documents,
the transactions contemplated hereby or the direct or indirect application or
proposed application of the proceeds of any Credit Extension hereunder except
to the extent that they are determined in a final non-appealable judgment by a
court of competent jurisdiction to have resulted from the gross negligence or
willful misconduct of the party seeking indemnification.  The obligations of the Borrowers under this Section 9.6
shall survive the termination of this Agreement.

 

9.7.          Numbers of Documents.  All statements, notices, closing documents,
and requests hereunder shall be furnished to the Administrative Agent with
sufficient counterparts so that the Administrative Agent may furnish one to
each of the Lenders.

 

45

 

9.8.          Accounting.  Except as provided to the contrary herein,
all accounting terms used herein shall be interpreted and all accounting
determinations hereunder shall be made in accordance with GAAP in a manner
consistent with that used in preparing the financial statements referred to in Section 5.4.  If at any time any
change in GAAP would affect the computation of any financial ratio or
requirement set forth in any Loan Document, and the Company, the Administrative
Agent or the Required Lenders shall so request, the Administrative Agent, the
Lenders and the Borrowers shall negotiate in good faith to amend such ratio or
requirement to preserve the original intent thereof in light of such change in
GAAP (subject to the approval of the Required Lenders); provided  that, until so amended, such ratio or requirement shall
continue to be computed in accordance with GAAP prior to such change therein
and the Company shall provide to the Administrative Agent and the Lenders
reconciliation statements showing the difference in such calculation, together
with the delivery of monthly, quarterly and annual financial statements
required hereunder.

 

9.9.          Severability of Provisions.  Any provision in any Loan Document that is
held to be inoperative, unenforceable, or invalid in any jurisdiction shall, as
to that jurisdiction, be inoperative, unenforceable, or invalid without
affecting the remaining provisions in that jurisdiction or the operation,
enforceability, or validity of that provision in any other jurisdiction, and to
this end the provisions of all Loan Documents are declared to be severable.

 

9.10.        Nonliability of Lenders.  The relationship between the Borrowers on the
one hand and the Lenders, the Issuers and the Administrative Agent on the other
hand shall be solely that of borrowers and lender.  Neither the Administrative Agent, either
Arranger, any Lender nor any Issuer shall have any fiduciary responsibilities
to the Borrowers.  Neither the
Administrative Agent, either Arranger, any Lender nor any Issuer undertakes any
responsibility to any Borrower to review or inform any Borrower of any matter
in connection with any phase of any Borrower’s business or operations.  Each Borrower agrees that neither the
Administrative Agent, either Arranger, any Lender nor any Issuer shall have
liability to such Borrower (whether sounding in tort, contract or otherwise)
for losses suffered by such Borrower in connection with, arising out of, or in
any way related to, the transactions contemplated and the relationship
established by the Loan Documents, or any act, omission or event occurring in
connection therewith, unless it is determined in a final non-appealable
judgment by a court of competent jurisdiction that such losses resulted from
the gross negligence or willful misconduct of the party from which recovery is
sought.  Neither the Administrative
Agent, either Arranger, any Lender nor any Issuer shall have any liability with
respect to, and each Borrower hereby waives, releases and agrees not to sue
for, any special, indirect, consequential or punitive damages suffered by such
Borrower in connection with, arising out of, or in any way related to the Loan
Documents or the transactions contemplated thereby.

 

9.11.        Confidentiality.  Each Lender agrees to hold any confidential
information which it may receive from the Company pursuant to this Agreement in
confidence, except for disclosure (i) to its Affiliates and to other
Lenders and their respective Affiliates, (ii) to legal counsel,
accountants, and other professional advisors to such Lender or to a Transferee,
(iii) to regulatory officials, (iv) to any Person as requested
pursuant to or as required by law, regulation, or legal process, (v) to
any Person in connection with any legal proceeding to which such Lender is a
party, (vi) to such Lender’s direct or indirect contractual counterparties
in swap agreements or to legal counsel, accountants and other professional
advisors to such counterparties, (vii) permitted 

 

46

 

by Section 12.2 and (viii) to rating agencies if requested
or required by such agencies in connection with a rating relating to the
Advances hereunder.

 

9.12.        Nonreliance.  Each Lender hereby represents that it is not
relying on or looking to any margin stock (as defined in Regulation U) for the
repayment of the Loans provided for herein.

 

9.13.        Disclosure.  The Borrowers and each Lender hereby
acknowledge and agree that JPMCB and/or its Affiliates from time to time may
hold investments in, make other loans to or have other relationships with the
Borrowers and their Affiliates.

 

9.14.        USA PATRIOT ACT NOTIFICATION.  Each Lender hereby notifies the Borrowers
that pursuant to requirements of the USA Patriot Act, such Lender is required
to obtain, verify and record information that identifies each Borrower, which information
includes the name and address of such Borrower and other information that will
allow such Bank to identify such Borrower in accordance with the USA Patriot
Act.

 

47

 

ARTICLE X

THE ADMINISTRATIVE AGENT

 

10.1.        Appointment; Nature of Relationship.  (a)  JPMCB is hereby appointed by each
of the Lenders as its contractual representative (herein referred to as the “Administrative
Agent”) hereunder and under each other Loan Document, and each of the Lenders
irrevocably authorizes the Administrative Agent to act as the contractual
representative of such Lender with the rights and duties expressly set forth
herein and in the other Loan Documents. 
The Administrative Agent agrees to act as such contractual representative
upon the express conditions contained in this Article X.  Notwithstanding the use of the defined term “Administrative
Agent,” it is expressly understood and agreed that the Administrative Agent
shall not have any fiduciary responsibilities to any Lender by reason of this
Agreement or any other Loan Document and that the Administrative Agent is
merely acting as the contractual representative of the Lenders with only those
duties as are expressly set forth in this Agreement and the other Loan Documents.  In its capacity as the Lenders’ contractual
representative, the Administrative Agent (i) does not hereby assume any
fiduciary duties to any of the Lenders, (ii) is a “representative” of the
Lenders within the meaning of the term “secured party” as defined in the
Illinois Uniform Commercial Code and (iii) is acting as an independent
contractor, the rights and duties of which are limited to those expressly set
forth in this Agreement and the other Loan Documents.  Each of the Lenders hereby agrees to assert
no claim against the Administrative Agent on any agency theory or any other
theory of liability for breach of fiduciary duty, all of which claims each
Lender hereby waives.

 

(b)           Each Issuer shall act on behalf of the
Lenders with respect to any Letter of Credit issued by it and the documents
associated therewith.  Each Issuer shall
have all of the benefits and immunities provided to the Administrative Agent in
this Article X with respect to any acts taken or omissions suffered
by the Issuer in connection with Letters of Credit issued by it or proposed to
be issued by it and the applications and agreements for letters of credit
pertaining to such Letters of Credit as fully as if the term “Administrative
Agent”, as used in this Article X, included such Issuer with
respect to such acts or omissions and as additionally provided in this
Agreement with respect to such Issuer.

 

10.2.        Powers. 
The Administrative Agent shall have and may exercise such powers under
the Loan Documents as are specifically delegated to the Administrative Agent by
the terms of each thereof, together with such powers as are reasonably
incidental thereto.  The Administrative
Agent shall have no implied duties to the Lenders, or any obligation to the
Lenders to take any action thereunder except any action specifically provided
by the Loan Documents to be taken by the Administrative Agent.

 

10.3.        General Immunity.  Neither the Administrative Agent nor any of
its Related Parties shall be liable to any Borrower, the Lenders or any Lender
for any action taken or omitted to be taken by it or them hereunder or under
any other Loan Document or in connection herewith or therewith except to the
extent such action or inaction is determined in a final non-appealable judgment
by a court of competent jurisdiction to have arisen from the gross negligence
or willful misconduct of such Person.

 

48

 

10.4.        No Responsibility for Loans, Recitals, etc.  Neither the Administrative Agent nor any of
its Related Parties shall be responsible for or have any duty to ascertain,
inquire into, or verify (a) any statement, warranty or representation made
in connection with any Loan Document or any borrowing hereunder; (b) the
performance or observance of any of the covenants or agreements of any obligor
under any Loan Document, including any agreement by an obligor to furnish
information directly to each Lender; (c) the satisfaction of any condition
specified in Article IV, except receipt of items required to be
delivered solely to the Administrative Agent; (d) the existence or
possible existence of any Default or Unmatured Default; (e) the validity,
enforceability, effectiveness, sufficiency or genuineness of any Loan Document
or any other instrument or writing furnished in connection therewith; (f) the
value, sufficiency, creation, perfection or priority of any Lien in any
collateral security; or (g) the financial condition of any Borrower or any
guarantor of any of the Obligations or of any of such Borrower’s or any such guarantor’s
respective Subsidiaries.

 

10.5.        Action on Instructions of Lenders.  The Administrative Agent shall in all cases
be fully protected in acting, or in refraining from acting, hereunder and under
any other Loan Document in accordance with written instructions signed by the
Required Lenders, and such instructions and any action taken or failure to act
pursuant thereto shall be binding on all of the Lenders.  The Lenders hereby acknowledge that the
Administrative Agent shall be under no duty to take any discretionary action
permitted to be taken by it pursuant to the provisions of this Agreement or any
other Loan Document unless it shall be requested in writing to do so by the
Required Lenders.  The Administrative Agent
shall be fully justified in failing or refusing to take any action hereunder
and under any other Loan Document unless it shall first be indemnified to its
satisfaction by the Lenders pro rata against any and all liability, cost and
expense that it may incur by reason of taking or continuing to take any such
action.

 

10.6.        Employment of Agents and Counsel.  The Administrative Agent may execute any of
its duties as Agent hereunder and under any other Loan Document by or through
employees, agents, and attorneys-in-fact and shall not be answerable to the
Lenders, except as to money or securities received by it or its authorized
agents, for the default or misconduct of any such agents or attorneys-in-fact
selected by it with reasonable care.  The
Administrative Agent shall be entitled to advice of counsel concerning the
contractual arrangement between the Administrative Agent and the Lenders and
all matters pertaining to the Administrative Agent’s duties hereunder and under
any other Loan Document.

 

10.7.        Reliance on Documents; Counsel.  The Administrative Agent shall be entitled to
rely upon any notice, consent, certificate, affidavit, letter, telegram,
facsimile, telex, electronic mail message, statement, paper or document
believed by it to be genuine and correct and to have been signed or sent by the
proper person or persons, and, in respect to legal matters, upon the opinion of
counsel selected by the Administrative Agent, which counsel may be employees of
the Administrative Agent.  For purposes
of determining compliance with the conditions specified in Sections 4.1
and 4.2, each Lender that has signed this Agreement shall be deemed to
have consented to, approved or accepted or to be satisfied with, each document
or other matter required thereunder to be consented to or approved by or
acceptable or satisfactory to a Lender unless the Administrative Agent shall
have received notice from such Lender prior to the applicable date specifying
its objection thereto.

 

49

 

10.8.        Agent’s Reimbursement and Indemnification.  The Lenders agree to reimburse and indemnify
the Administrative Agent ratably in accordance with their Pro Rata Shares (i) for
any amounts not reimbursed by the Borrowers for which the Administrative Agent
is entitled to reimbursement by the Borrowers under the Loan Documents, (ii) for
any other expenses incurred by the Administrative Agent on behalf of the
Lenders, in connection with the preparation, execution, delivery,
administration and enforcement of the Loan Documents (including for any
expenses incurred by the Administrative Agent in connection with any dispute
between the Administrative Agent and any Lender or between two or more of the
Lenders) and (iii) for any liabilities, obligations, losses, damages,
penalties, actions, judgments, suits, costs, expenses or disbursements of any
kind and nature whatsoever which may be imposed on, incurred by or asserted
against the Administrative Agent in any way relating to or arising out of the
Loan Documents or any other document delivered in connection therewith or the
transactions contemplated thereby (including for any such amounts incurred by
or asserted against the Administrative Agent in connection with any dispute
between the Administrative Agent and any Lender or between two or more of the
Lenders), or the enforcement of any of the terms of the Loan Documents or of
any such other documents; provided that (i) no Lender shall be
liable for any of the foregoing to the extent any of the foregoing is found in
a final non-appealable judgment by a court of competent jurisdiction to have
resulted from the gross negligence or willful misconduct of the Administrative
Agent and (ii) any indemnification required pursuant to Section 3.4(g) shall,
notwithstanding the provisions of this Section 10.8, be paid by the
relevant Lender in accordance with the provisions thereof.  The obligations of the Lenders under this Section 10.8
shall survive payment of the Obligations and termination of this Agreement.

 

10.9.        Notice of Default.  The Administrative Agent shall not be deemed
to have knowledge or notice of the occurrence of any Default or Unmatured
Default hereunder unless the Administrative Agent has received written notice
from a Lender or the Company referring to this Agreement describing such
Default or Unmatured Default and stating that such notice is a “notice of
default”.  If the Administrative Agent
receives such a notice, the Administrative Agent shall give prompt notice
thereof to the Lenders.

 

10.10.      Rights as a Lender.  If the Administrative Agent is a Lender, the
Administrative Agent shall have the same rights and powers hereunder and under
any other Loan Document with respect to its Commitment and its Loans as any
Lender and may exercise the same as though it were not the Administrative
Agent, and the term “Lender” or “Lenders” shall, at any time when the
Administrative Agent is a Lender, unless the context otherwise indicates,
include the Administrative Agent in its individual capacity.  The Administrative Agent and its Affiliates
may accept deposits from, lend money to, and generally engage in any kind of
trust, debt, equity or other transaction, in addition to those contemplated by
this Agreement or any other Loan Document, with the Company or any of its
Subsidiaries in which the Company or such Subsidiary is not restricted hereby
from engaging with any other Person.  The
Administrative Agent, in its individual capacity, is not obligated to remain a
Lender.

 

10.11.      Lender Credit Decision.  Each Lender acknowledges that it has,
independently and without reliance upon the Administrative Agent, either
Arranger, any other Lender or any Issuer and based on the financial statements
prepared by the Company and such other documents and information as it has
deemed appropriate, made its own credit analysis and decision to enter into
this Agreement and the other Loan Documents. 
Each Lender also acknowledges that it will, 

 

50

 

independently and without reliance upon the Administrative Agent,
either Arranger, any other Lender or any Issuer and based on such documents and
information as it shall deem appropriate at the time, continue to make its own
credit decisions in taking or not taking action under this Agreement and the other
Loan Documents. Except for any notice, report, document or other information
expressly required to be furnished to the Lenders by the Administrative Agent
or an Arranger hereunder, neither the Administrative Agent nor either Arranger
shall have any duty or responsibility (either initially or on a continuing
basis) to provide any Lender with any notice, report, document, credit
information or other information concerning the affairs, financial condition or
business of the Company or any of its Affiliates that may come into the
possession of the Administrative Agent or either Arranger (whether or not in
their respective capacity as Administrative Agent or an Arranger) or any of
their Affiliates.

 

10.12.      Successor Agent.  The Administrative Agent may resign at any
time by giving written notice thereof to the Lenders and the Company, such
resignation to be effective upon the appointment of a successor Administrative
Agent or, if no successor Administrative Agent has been appointed, forty-five
days after the retiring Administrative Agent gives notice of its intention to
resign.  The Administrative Agent may be
removed at any time with or without cause by written notice received by the
Administrative Agent from the Required Lenders, such removal to be effective on
the date specified by the Required Lenders; provided that the
Administrative Agent may not be removed unless the Administrative Agent (in its
individual capacity) and any affiliate thereof acting as an Issuer is relieved
of all of its duties as an Issuer pursuant to documentation reasonably
satisfactory to such Person on or prior to the date of such removal.  Upon any such resignation or removal, the
Required Lenders shall have the right to appoint, on behalf of the Borrower and
the Lenders, a successor Administrative Agent. 
If no successor Administrative Agent shall have been so appointed by the
Required Lenders within thirty days after the resigning Agent’s giving notice
of its intention to resign, then the resigning Agent may appoint, on behalf of
the Borrowers and the Lenders, a successor Administrative Agent.  Notwithstanding the previous sentence, the
Administrative Agent may at any time without the consent of any Borrower or any
Lender, appoint any of its Affiliates which is a commercial bank as a successor
Administrative Agent hereunder.  If the
Administrative Agent has resigned or been removed and no successor
Administrative Agent has been appointed, the Lenders may perform all the duties
of the Administrative Agent hereunder and the Borrowers shall make all payments
in respect of the Obligations to the applicable Lender and for all other
purposes shall deal directly with the Lenders. 
No successor Administrative Agent shall be deemed to be appointed
hereunder until such successor Administrative Agent has accepted the
appointment.  Any such successor
Administrative Agent shall be a commercial bank having capital and retained
earnings of at least $100,000,000.  Upon
the acceptance of any appointment as Administrative Agent hereunder by a
successor Administrative Agent, such successor Administrative Agent shall
thereupon succeed to and become vested with all the rights, powers, privileges
and duties of the resigning or removed Administrative Agent.  Upon the effectiveness of the resignation or
removal of the Administrative Agent, the resigning or removed Administrative
Agent shall be discharged from its duties and obligations hereunder and under
the Loan Documents.  After the
effectiveness of the resignation or removal of an Administrative Agent, the provisions
of this Article X shall continue in effect for the benefit of such
Administrative Agent in respect of any actions taken or omitted to be taken by
it while it was acting as the Administrative Agent hereunder and under the
other Loan Documents.  In the event that
there is a successor to the Administrative Agent by merger, or the
Administrative Agent 

 

51

 

assigns its duties and obligations to an Affiliate pursuant to this Section 10.12,
then the term “Prime Rate” as used in this Agreement shall mean the prime rate,
base rate or other analogous rate of the new Administrative Agent.

 

10.13.      Agent and Arranger Fees.  The Borrowers jointly and severally agree to
pay to the Administrative Agent and the Arranger, for their respective
accounts, the fees agreed to by the Borrowers, the Administrative Agent and the
Arranger pursuant to that certain letter agreement dated March 26, 2008,
or as otherwise agreed from time to time.

 

10.14.      Delegation to Affiliates.  The Borrowers and the Lenders agree that the
Administrative Agent may delegate any of its duties under this Agreement to any
of its Affiliates.  Any such Affiliate
(and such Affiliate’s Related Parties) which performs duties in connection with
this Agreement shall be entitled to the same benefits of the indemnification,
waiver and other protective provisions to which the Administrative Agent is
entitled under Article IX and this Article X.

 

10.15.      Other Agents.  No Lender identified in this Agreement as the
Syndication Agent or a Co-Documentation Agent 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 such Lenders shall have or be
deemed to have a fiduciary relationship with any Lender.  Each Lender hereby makes the same
acknowledgments with respect to such Lenders as it makes with respect to the
Administrative Agent in Section 10.11.

 

ARTICLE XI

SETOFF; RATABLE PAYMENTS

 

11.1.        Setoff. 
In addition to, and without limitation of, any rights of the Lenders
under applicable law, if a Borrower becomes insolvent, however evidenced, or
any Default occurs, any and all deposits (including all account balances,
whether provisional or final and whether or not collected or available) and any
other Indebtedness at any time held or owing by any Lender or any Affiliate of
any Lender to or for the credit or account of such Borrower may, with the prior
consent of the Administrative Agent, be offset and applied toward the payment
of the Obligations owing to such Lender, whether or not the Obligations, or any
part thereof, shall then be due.

 

11.2.        Sharing of Payments.  (a)  If any Lender shall obtain any
payment or other recovery (whether voluntary, involuntary, through the exercise
of any right of set-off or otherwise) on account of principal of or interest on
the Loans or the Reimbursement Obligations owed to it by any Borrower in excess
of its Pro Rata Share or BSub Percentage, respectively, of all payments and
other recoveries obtained by all Lenders or the applicable BSub Lenders, as the
case may be, on account of principal of and interest on such Loans or
Reimbursement Obligations, then such Lender shall immediately (a) notify
the Administrative Agent and the other applicable Lenders of such fact and (b) purchase
such participations in the Loans and Reimbursement Obligations of the other
Lenders to such Borrower as shall be necessary to cause such purchasing Lender
to share the excess payment or other recovery pro rata with such other Lenders
in accordance with their Pro Rata Shares or BSub Percentages, as applicable; provided
that if all or any portion of such excess payment or other recovery is
thereafter recovered from 

 

52

 

the purchasing Lender, such purchase shall to that extent be rescinded
and each other applicable Lender shall repay to the purchasing Lender the
purchase price paid therefor, together with an amount equal to such paying Lender’s
ratable share (according to the proportion of (i) the amount of such
paying Lender’s required repayment to (ii) the total amount so recovered
from the purchasing Lender) of any interest or other amount paid or payable by
the purchasing Lender in respect of the total amount so recovered.

 

(b)           Each Borrower agrees
that any Lender purchasing a participation from another Lender pursuant to this
Section 11.2 may, to the fullest extent permitted by law, exercise
all its rights of payment (including the right of set-off) with respect to such
participation as fully as if such Lender were a direct creditor of such
Borrower in the amount of such participation. 
The Administrative Agent will keep records (which shall be conclusive
and binding in the absence of manifest error) of participations purchased under
this Section 11.2.

 

ARTICLE XII

ASSIGNMENTS; PARTICIPATIONS; ETC.

 

12.1.        Successors and Assigns.  (a)The provisions of this Agreement shall be
binding upon and inure to the benefit of the parties hereto and their
respective successors and assigns permitted hereby (including any Affiliate of
an Issuer that issues any Letter of Credit), except that (i) no Borrower
may assign or otherwise transfer any of its rights or obligations hereunder
without the prior written consent of each Lender (and any attempted assignment
or transfer by any Borrower without such consent shall be null and void) and (ii) no
Lender may assign or otherwise transfer its rights or obligations hereunder
except in accordance with this Section. 
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 (including any Affiliate of an Issuer
that issues any Letter of Credit), Participants (to the extent provided in clause
(c) below) and, to the extent expressly contemplated hereby, the
Related Parties of each of the Administrative Agent, the Issuers and the
Lenders) any legal or equitable right, remedy or claim under or by reason of
this Agreement.

 

(b)           (i) Subject to the conditions set forth
in clause (ii) below, any Lender may assign to one or more
assignees all or a portion of its rights and obligations under this Agreement
(including all or a portion of its Commitments and the Loans at the time owing
to it) with the prior written consent (such consent not to be unreasonably
withheld) of:

 

(A)          the
Company, provided that no consent of the Company shall be required for
an assignment to a Lender or an Affiliate of a Lender or, if a Default has
occurred and is continuing,  any other
assignee;

 

(B)           the
Administrative Agent; and

 

(C)           the
Issuers.

(ii)           Assignments shall be subject to the following
additional conditions:

 

(A)          except
in the case of an assignment to a Lender or an Affiliate of a Lender or an
assignment of the entire remaining amount of the assigning Lender’s 

 

53

 

Commitments or
Loans, the amount of the 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 unless each of the Company and the
Administrative Agent otherwise consent, provided that no such consent of
the Company shall be required if a Default has occurred and is continuing;

 

(B)           each
partial assignment shall be made as an assignment of a proportionate part of
all the assigning Lender’s rights and obligations under this Agreement, provided
that this clause shall not be construed to prohibit the assignment of a
proportionate part of all the assigning Lender’s rights and obligations in
respect of its other Commitment, if any (or Loans made thereunder);

 

(C)           the
parties to each assignment shall execute and deliver to the Administrative
Agent an Assignment and Assumption, together with a processing and recordation
fee of $3,500;

 

(D)          the
assignee, if it shall not be a Lender, shall deliver to the Administrative
Agent an Administrative Questionnaire; and

 

(E)           no
such assignment shall be made to the Company or any of the Company’s
Subsidiaries or other Affiliates.

 

(iii)          Subject
to acceptance and recording thereof pursuant to clause (iv) below,
from and after the effective date specified in each Assignment and Assumption
the assignee thereunder shall be a party hereto and, to the extent of the
interest assigned by such Assignment and Assumption, have the rights and
obligations of a Lender under this Agreement, and the assigning Lender
thereunder shall, to the extent of the interest assigned by such Assignment and
Assumption, be released from its obligations under this Agreement (and, in the
case of an Assignment and Assumption covering all of the assigning Lender’s
rights and obligations under this Agreement, such Lender shall cease to be a
party hereto but shall continue to be entitled to the benefits of Sections
3.1, 3.3, 3.4, 9.6 and 9.10).  Any assignment or transfer by a Lender of
rights or obligations under this Agreement that does not comply with this clause
(b) 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 clause
(c) of this Section.

 

(iv)  The Administrative Agent, acting for this purpose as an
agent of the Borrowers, shall maintain at one of its offices a copy of each
Assignment and Assumption delivered to it and a register for the recordation of
the names and addresses of the Lenders, and the Commitments of, and principal amount
of the Loans and Letter of Credit Obligations owing to, each Lender pursuant to
the terms hereof from time to time (the “Register”).  The entries in the Register shall be
conclusive, and the Borrowers, the Administrative Agent, the Issuers and the
Lenders may treat each Person whose name is recorded in the Register pursuant
to the terms hereof as a Lender hereunder for all 

 

54

 

purposes of
this Agreement, notwithstanding notice to the contrary.  The Register shall be available for
inspection by the Company or any Lender, at any reasonable time and from time
to time upon reasonable prior notice.

 

(v)  Upon its receipt of a duly completed Assignment and
Assumption executed by an assigning Lender and an assignee, the assignee’s
completed Administrative Questionnaire (unless the assignee shall already be a
Lender hereunder), the processing and recordation fee referred to in clause (b) of
this Section and any written consent to such assignment required by clause
(b) of this Section, the Administrative Agent shall accept such
Assignment and Assumption and record the information contained therein in the
Register; provided that if either the assigning Lender or the assignee
shall have failed to make any payment required to be made by it pursuant to Section 2.10(b),
2.18(e), 2.24, 10.8 or 11.2(b), the Administrative
Agent shall have no obligation to accept such Assignment and Assumption and
record the information therein in the Register unless and until such payment shall
have been made in full, together with all accrued interest thereon.  No assignment shall be effective for purposes
of this Agreement unless it has been recorded in the Register as provided in
this clause.

 

(c)(i)  Any Lender may, without the
consent of the Borrower, the Administrative Agent, the Issuers or the other
Lenders, sell participations to one or more banks or other entities (other than
the Company or any of the Company’s Subsidiaries or other Affiliates) (a “Participant”)
in all or a portion of such Lender’s rights and obligations under this
Agreement (including all or a portion of its Commitments and the Loans owing to
it); provided that (A) such Lender’s obligations under this
Agreement shall remain unchanged, (B) such Lender shall remain solely
responsible to the other parties hereto for the performance of such obligations
and (C) the Borrowers, the Administrative Agent, the Issuers and the other
Lenders shall continue to deal solely and directly with such Lender in
connection with such Lender’s rights and obligations under this Agreement.  Any agreement or instrument pursuant to which
a Lender sells such a participation shall provide that such Lender shall retain
the sole right to enforce this Agreement and to approve any amendment,
modification or waiver of any provision of this Agreement; provided that
such agreement or instrument may provide that such Lender will not, without the
consent of the Participant, agree to any amendment, modification or waiver
described in the first proviso to clause (b) that affects such
Participant.  Subject to clause
(c)(ii), each Borrower agrees that each Participant shall be entitled to
the benefits of Sections 3.1, 3.3, 3.4, 9.6 and 9.10
to the same extent as if it were a Lender and had acquired its interest by
assignment pursuant to clause (b) of this Section.  To the extent permitted by law, each
Participant also shall be entitled to the benefits of Section 11.1
as though it were a Lender, provided such Participant agrees to be
subject to Section 11.2 as though it were a Lender.

 

(ii)           A
Participant shall not be entitled to receive any greater payment under Section 3.1,
3.3 or 3.4 than the applicable Lender would have been entitled to
receive with respect to the participation sold to such Participant, unless the
sale of the participation to such Participant is made with the Company’s prior
written consent.  A Participant that
would be a Non-U.S. Lender if it were a Lender shall not be entitled to the
benefits of Section 3.4 unless the Company is notified of the
participation sold to such Participant and such Participant agrees, for the
benefit of the Borrowers, to comply with Section 3.4(d) as
though it were a Lender.

 

55

 

(d)           Any Lender may at any time pledge or assign a
security interest in all or any portion of its rights under this Agreement to
secure obligations of such Lender, including without limitation any pledge or
assignment to secure obligations to a Federal Reserve Bank, and this Section shall
not apply to any such pledge or assignment of a security interest; provided
that no such pledge or assignment of a security interest shall release a Lender
from any of its obligations hereunder or substitute any such pledgee or
assignee for such Lender as a party hereto.

 

12.2.        Dissemination of Information.  Each Borrower authorizes each Lender to
disclose to any assignee or Participant, or any other Person acquiring an
interest in the Loan Documents by operation of law (each a “Transferee”)
and any prospective Transferee any and all information in such Lender’s
possession concerning the creditworthiness of the Company and its Subsidiaries,
including any information contained in any Reports; provided that each
Transferee and prospective Transferee agrees to be bound by Section 9.11
of this Agreement.

 

12.3.        Tax Treatment.  If any interest in any Loan Document is
transferred to any Transferee which is not incorporated under the laws of the
United States or any State thereof, the transferor Lender shall cause such Transferee,
concurrently with the effectiveness of such transfer, to comply with the
provisions of Section 3.4(d).

 

ARTICLE XIII

NOTICES

 

13.1.        Notices; Effectiveness; Electronic
Communication.

 

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

 

(i)            if
to any Borrower, to the Company at its address or telecopier number set forth
on the signature page hereof;

 

(ii)           if
to the Administrative Agent, at its address or telecopier number set forth on
the signature page hereof;

 

(iii)          if
to an Issuer, to it at its address or telecopier number set forth on the
signature page hereof or in its Administrative Questionnaire, as
applicable; and

 

(iv)          if
to a Lender, to it at its address or telecopier number set forth in its
Administrative Questionnaire.

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

 

56

 

(b)           Electronic Communications.  Notices and other communications to the
Lenders and the Issuers hereunder may be delivered or furnished by electronic
communication (including e-mail and internet or intranet websites) pursuant to
procedures approved by the Administrative Agent or as otherwise determined by
the Administrative Agent; provided that the foregoing shall not apply to
notices to any Lender or any Issuer pursuant to Article II if such
Lender or such Issuer, as applicable, has notified the Administrative Agent
that it is incapable of receiving notices under such Article by electronic
communication.  The Administrative Agent
or any Borrower may, in its respective discretion, agree to accept notices and
other communications to it hereunder by electronic communications pursuant to
procedures approved by it or as it otherwise determines; provided that
such determination or approval 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 given during the normal business hours of the recipient,
such notice or communication shall be deemed to have been given 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)           Change of Address, Etc.  Any party hereto may change its address or
telecopier number for notices and other communications hereunder by notice to
the other parties hereto.

 

ARTICLE XIV

COUNTERPARTS; EFFECT OF RESTATEMENT; ELECTRONIC EXECUTION

 

14.1.        Counterparts.  This Agreement may be executed in
counterparts (and by different parties hereto in different counterparts), each
of which shall constitute an original, but all of which when taken together
shall constitute a single contract. 
Delivery of an executed counterpart of a signature page of this
Agreement by facsimile or in a .pdf or similar file shall be effective as
delivery of a manually executed counterpart of this Agreement.

 

14.2.        Effect of Restatement.  This Agreement and the 364-Day Credit
Agreement collectively amend, restate and replace in its entirety the Existing
Agreement.  All rights, benefits,
indebtedness, interest, liabilities and obligations of the parties to the
Existing Agreement are hereby amended, restated, replaced and superseded in
their entirety according to the terms and provisions set forth herein and in
the 364-Day Credit Agreement.  The
Borrower represents and warrants that as of the date hereof there are no claims
or offsets against, or defenses or counterclaims to, its obligations under this
Agreement, the Existing Agreement, the 364-Day Credit Agreement or any of the
other agreements, documents or instruments executed in connection herewith or
therewith.  To induce the Administrative
Agent and the Lenders to enter into this Agreement, the Borrower waives any and
all such claims, offsets, defenses and counterclaims, whether known or unknown,
arising prior to the Effective Date and relating to the Existing Agreement,
this Agreement or the 364-Day Credit Agreement.

 

57

 

14.3.        Electronic Execution of Assignments.  The words “execution,” “signed,” “signature,”
and words of like import in any assignment and assumption agreement shall be
deemed to include electronic signatures or the keeping of records in electronic
form, each of which shall be of the same legal effect, validity or
enforceability as a manually executed signature or the use of a paper-based
recordkeeping system, as the case may be, to the extent and as provided for in
any applicable law, including the Federal Electronic Signatures in Global and
National Commerce Act, or any other state laws based on the Uniform Electronic
Transactions Act.

 

ARTICLE XV

GUARANTY BY THE COMPANY

 

15.1.        Guaranty.  The Company hereby absolutely,
unconditionally and irrevocably guarantees the full and punctual payment
(whether at stated maturity, upon acceleration or otherwise) of all obligations
of the Borrowing Subsidiaries under this Agreement, including the principal of
and interest on each Loan to each Borrowing Subsidiary and all obligations of
each Borrowing Subsidiary under or in connection with any Letter of Credit, and
all costs and expenses of the Administrative Agent and the Lenders in enforcing
any of their rights against the Borrowing Subsidiaries hereunder.  Upon failure by any Borrowing Subsidiary to
pay punctually any such amount, the Company shall forthwith on demand pay the
amount not so paid at the place, in the currency and in the manner specified in
this Agreement.

 

15.2.        Guaranty Unconditional.  The obligations of the Company under this Article XV
shall be absolute, unconditional and irrevocable and, without limiting the
generality of the foregoing, shall not be released, discharged or otherwise
affected by:

 

(a)           any extension, renewal, settlement,
compromise, waiver or release in respect of any obligation of any Borrowing
Subsidiary under this Agreement or any other Loan Document, by operation of law
or otherwise;

 

(b)           any modification or amendment of or
supplement to this Agreement or any other Loan Document;

 

(c)           any release, impairment, non perfection or
invalidity of any other guaranty or of any direct or indirect security for any
obligation of any Borrowing Subsidiary under this Agreement or any other Loan
Document;

 

(d)           any change in the corporate existence, structure
or ownership of any Borrowing Subsidiary or any insolvency, bankruptcy,
reorganization or other similar proceeding affecting any Borrowing Subsidiary
or any Borrowing Subsidiary’s assets or any resulting release or discharge of
any obligation of any Borrowing Subsidiary contained in this Agreement or any
other Loan Document;

 

(e)           the existence of any claim, set off or other
right which the Company may have at any time against any Borrowing Subsidiary,
the Administrative Agent, any Lender, any Issuer or any other Person, whether
in connection herewith or any unrelated transaction; provided that
nothing herein shall prevent the assertion of any such claim by separate suit
or compulsory counterclaim;

 

58

 

(f)            any invalidity or unenforceability relating
to or against any Borrowing Subsidiary for any reason of this Agreement or any
other Loan Document, or any provision of any applicable law or regulation
purporting to prohibit the payment by any Borrowing Subsidiary of the principal
of or interest on any Loan or any other amount payable by such Borrowing
Subsidiary under this Agreement or any other Loan Document; or

 

(g)           any other act or omission to act or delay of
any kind by any Borrowing Subsidiary, the Administrative Agent, any Lender, any
Issuer or any other Person or any other circumstance whatsoever which might,
but for the provisions of this paragraph, constitute a legal or equitable
discharge of the Company’s obligations as guarantor hereunder.

 

15.3.        Discharge only upon Payment in Full;
Reinstatement in Certain Circumstances. 
The Company’s obligations as guarantor hereunder shall remain in full
force and effect until the Commitments shall have terminated and all
obligations of the Borrowing Subsidiaries under this Agreement and each other
Loan Document shall have been paid in full. 
If at any time any payment of principal, interest or any other amount
payable by any Borrowing Subsidiary under or in connection with this Agreement
or any other Loan Document is rescinded or must be otherwise restored or
returned upon the insolvency, bankruptcy or reorganization of such Borrowing
Subsidiary or otherwise, the Company’s obligations hereunder with respect to
such payment shall be reinstated as though such payment had been due but not
made at such time.

 

15.4.        Waiver by the Company.  The Company irrevocably waives acceptance
hereof,  presentment, demand, protest and
any notice not provided for herein, as well as any requirement that at any time
any action be taken by any Person against any Borrowing Subsidiary or any other
Person.

 

15.5.        Subrogation.  Notwithstanding any payment made by or for
the account of any Borrowing Subsidiary pursuant to this Article XV,
the Company shall not be subrogated to any right of the Administrative Agent,
any Lender or any Issuer until such time as the Administrative Agent, the
Lenders and the Issuers and any applicable Affiliate of any Lender shall have
received final payment in cash of the full amount of all obligations of the Borrowing
Subsidiaries hereunder and under each other Loan Document.

 

15.6.        Stay of Acceleration.  If acceleration of the time for payment of
any amount payable by any Borrowing Subsidiary under this Agreement or any
other Loan Document is stayed upon the insolvency, bankruptcy or reorganization
of such Borrowing Subsidiary, all such amounts otherwise subject to
acceleration under the terms of this Agreement shall nonetheless be payable by
the Company hereunder forthwith on demand by the Administrative Agent made at
the request of the Required Lenders.

 

ARTICLE XVI

CHOICE OF LAW; CONSENT TO JURISDICTION; WAIVER OF JURY TRIAL

 

16.1.        CHOICE OF LAW.  THE LOAN DOCUMENTS (OTHER THAN THOSE
CONTAINING A CONTRARY EXPRESS CHOICE OF LAW PROVISION) SHALL BE CONSTRUED IN ACCORDANCE
WITH THE INTERNAL LAWS OF THE STATE OF 

 

59

 

NEW YORK, BUT GIVING EFFECT TO FEDERAL LAWS
APPLICABLE TO NATIONAL BANKS.

 

16.2.        CONSENT TO JURISDICTION.  EACH BORROWER HEREBY IRREVOCABLY SUBMITS TO THE
NON-EXCLUSIVE JURISDICTION OF ANY UNITED STATES FEDERAL OR NEW YORK STATE COURT
SITTING IN NEW YORK, NEW YORK IN ANY ACTION OR PROCEEDING ARISING OUT OF OR
RELATING TO ANY LOAN DOCUMENT AND EACH BORROWER HEREBY IRREVOCABLY AGREES THAT
ALL CLAIMS IN RESPECT OF SUCH ACTION OR PROCEEDING MAY BE HEARD AND
DETERMINED IN ANY SUCH COURT AND IRREVOCABLY WAIVES ANY OBJECTION IT MAY NOW
OR HEREAFTER HAVE AS TO THE VENUE OF ANY SUCH SUIT, ACTION OR PROCEEDING
BROUGHT IN SUCH A COURT OR THAT SUCH COURT IS AN INCONVENIENT FORUM.  NOTHING HEREIN SHALL LIMIT THE RIGHT OF THE
ADMINISTRATIVE AGENT, ANY LENDER OR ANY ISSUER TO BRING PROCEEDINGS AGAINST ANY
BORROWER IN THE COURTS OF ANY OTHER JURISDICTION.  ANY JUDICIAL PROCEEDING BY ANY BORROWER
AGAINST THE ADMINISTRATIVE AGENT, ANY LENDER OR ANY ISSUER OR ANY AFFILIATE OF
THE ADMINISTRATIVE AGENT, ANY LENDER OR ANY ISSUER INVOLVING, DIRECTLY OR
INDIRECTLY, ANY MATTER IN ANY WAY ARISING OUT OF, RELATED TO, OR CONNECTED WITH
ANY LOAN DOCUMENT SHALL BE BROUGHT ONLY IN A COURT IN NEW YORK, NEW YORK.

 

16.3.        WAIVER OF JURY TRIAL.  EACH BORROWER, THE ADMINISTRATIVE AGENT, EACH
LENDER AND EACH ISSUER HEREBY WAIVE TRIAL BY JURY IN ANY JUDICIAL PROCEEDING
INVOLVING, DIRECTLY OR INDIRECTLY, ANY MATTER (WHETHER SOUNDING IN TORT, CONTRACT
OR OTHERWISE) IN ANY WAY ARISING OUT OF, RELATED TO, OR CONNECTED WITH ANY LOAN
DOCUMENT OR THE RELATIONSHIP ESTABLISHED THEREUNDER.

 

60

 

IN WITNESS
WHEREOF, the Company, the Lenders, the Issuers and the Administrative Agent
have executed this Agreement as of the date first above written.

 

 

	
   

  	
   

  	
  BEMIS COMPANY, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name: Melanie E. R. Miller

  
	
   

  	
   

  	
  Title: Vice President and Treasurer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  One Neenah Center, 4th Floor

  
	
   

  	
   

  	
  P.O. Box 669

  
	
   

  	
   

  	
  Neenah, Wisconsin 54957-0669

  
	
   

  	
   

  	
  FAX: 920/527-5040

  

 

 

Commitments

 

 

	
  $96,900,000

  	
   

  	
  JPMORGAN CHASE BANK, NATIONAL

  ASSOCIATION, Individually and as

  
	
   

  	
   

  	
  Administrative Agent

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name: Michael B. Kelly

  
	
   

  	
   

  	
  Title: Vice President

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Lending Office:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  JPMorgan Chase Bank, National Association

  
	
   

  	
   

  	
  10 South Dearborn, Floor 07

  
	
   

  	
   

  	
  Chicago, IL 60603-2003 United States

  
	
   

  	
   

  	
  Mail Code   IL1-0010

  
	
   

  	
   

  	
  Attention: Edna
  Guerra

  
	
   

  	
   

  	
  FAX:
  312-385-7090

  
	
   

  	
   

  	
  E-Mail:
  edna.guerra@jpmchase.com

  

 

 

	
  $96,900,000

  	
   

  	
  WACHOVIA BANK, NATIONAL ASSOCIATION

  
	
   

  	
   

  	
  Individually and as Syndication Agent

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name:

  	
   

  
	
   

  	
   

  	
  Title:

  	
   

  
						

 

 

	
  $34,000,000

  	
   

  	
  ING BANK N.V., DUBLIN BRANCH, as a Lender

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name:

  	
   

  
	
   

  	
   

  	
  Title:

  	
   

  
						

 

 

	
  $79,475,000

  	
   

  	
  WELLS FARGO BANK, NATIONAL 

  ASSOCIATION, as a Lender

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name:

  	
   

  
	
   

  	
   

  	
  Title:

  	
   

  
						

 

 

	
  $38,250,000

  	
   

  	
  BNP PARIBAS, as a Lender

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name:

  	
   

  
	
   

  	
   

  	
  Title:

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name:

  	
   

  
	
   

  	
   

  	
  Title:

  	
   

  
								

 

 

	
  $79,475,000

  	
   

  	
  U.S. BANK NATIONAL ASSOCIATION, as a Lender

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name:

  	
   

  
	
   

  	
   

  	
  Title:

  	
   

  
						

 

 

PRICING SCHEDULE

 

	
  APPLICABLE

  MARGIN

  	
   

  	
  LEVEL I

  STATUS

  	
   

  	
  LEVEL II

  STATUS

  	
   

  	
  LEVEL III

  STATUS

  	
   

  	
  LEVEL IV

  STATUS

  	
   

  	
  LEVEL V

  STATUS

  	
   

  
	
  Eurocurrency Rate/Letter of Credit Fee Rate

  	
   

  	
  0.180

  	
  %

  	
  0.220

  	
  %

  	
  0.310

  	
  %

  	
  0.350

  	
  %

  	
  0.525

  	
  %

  
	
  Facility Fee Rate

  	
   

  	
  0.070

  	
  %

  	
  0.080

  	
  %

  	
  0.090

  	
  %

  	
  0.100

  	
  %

  	
  0.125

  	
  %

  
	
  Utilization Fee Rate

  	
   

  	
  0.050

  	
  %

  	
  0.050

  	
  %

  	
  0.050

  	
  %

  	
  0.100

  	
  %

  	
  0.100

  	
  %

  

 

For the purposes of this Schedule, the following terms have the
following meanings, subject to the final paragraph of this Schedule:

 

“Level I Status” exists at any date if, on such date, the Company’s
Moody’s Rating is A2 or better and the Company’s S&P Rating is A or better.

 

“Level II Status” exists at any date if, on such date, (i) the
Company has not qualified for Level I Status and (ii) the Company’s Moody’s
Rating is A3 or better and the Company’s S&P Rating is A- or better.

 

“Level III Status” exists at any date if, on such date, (i) the
Company has not qualified for Level I Status or Level II Status and (ii) the
Company’s Moody’s Rating is Baa1 or better and the Company’s S&P Rating is
BBB or better.

 

“Level IV Status” exists at any date if, on such date, (i) the
Company has not qualified for Level I Status, Level II Status or Level III
Status and (ii) the Company’s Moody’s Rating is Baa2 or better and the
Company’s S&P Rating is BBB or better.

 

“Level V Status” exists at any date if, on such date, the Company has
not qualified for Level I Status, Level II Status, Level III Status or Level IV
Status.

 

“Moody’s Rating” means, at any time, the rating issued by Moody’s and
then in effect with respect to the Company’s senior unsecured long-term debt
securities without third-party credit enhancement.

 

“S&P Rating” means, at any time, the rating issued by S&P and
then in effect with respect to the Company’s senior unsecured long-term debt
securities without third-party credit enhancement.

 

“Status” means either Level I Status, Level II Status, Level III
Status, Level IV Status or Level V Status.

 

 

The Applicable Margin and Applicable Fee Rate shall be determined in
accordance with the foregoing table based on the Company’s Status as determined
from its then-current Moody’s and S&P Ratings.  The credit rating in effect on any date for
the purposes of this Schedule is that in effect at the close of business on
such date.  If at any time the Company
has no Moody’s Rating or no S&P Rating, Level V Status shall exist.

 

If the Company is split-rated and the ratings differential is one
notch, the higher of the two ratings will apply (e.g., A/A3 results in Level I
Status and A-/Baa1 results in Level II Status). 
If the Company is split-rated and the ratings differential is two or
more notches, the rating which is one notch above the lower rating shall be
used (e.g., A/Baa1 results in Level II Status and A/Baa3 results in Level III
Status).  If at any date, the Company’s
long-term unsecured debt is rated by neither S&P nor Moody’s, then Level V
Status shall apply.

 

 

SCHEDULE 1

 

EUROCURRENCY PAYMENT OFFICE

 

Sterling and Euro

 

J. P. Morgan Europe Limited

125 London Wall, London EC2Y 5AJ

Attention: Loans Agency

Tel no (44) 207 777 2542

Fax no (44) 207 777 2360

 

 

EXHIBIT A

 

COMPLIANCE CERTIFICATE

 

	
  To:

  	
  The Lenders that are parties to the

  
	
   

  	
  Amended and Restated Long-Term Credit Agreement Described Below

  

 

This Compliance Certificate is furnished pursuant to the Amended and
Restated Long-Term Credit Agreement dated as of
            ,         (as amended, modified, renewed or extended
from time to time, the “Agreement”) among Bemis Company, Inc. (the “Company”),
various subsidiaries of the Company, the lenders party thereto and JPMorgan
Chase Bank, National Association, as Administrative Agent for the Lenders.  Unless otherwise defined herein, capitalized
terms used in this Compliance Certificate have the meanings ascribed thereto in
the Agreement.

 

THE UNDERSIGNED HEREBY CERTIFIES THAT:

 

1.  I am the duly elected                       of the Company;

 

2.  I have reviewed the terms of
the Agreement and I have made, or have caused to be made under my supervision,
a detailed review of the transactions and conditions of the Company and its
Subsidiaries during the accounting period covered by the attached financial
statements;

 

3.  The examinations described in
paragraph 2 did not disclose, and I have no knowledge of, the existence of any
condition or event which constitutes a Default or Unmatured Default during or
at the end of the accounting period covered by the attached financial
statements or as of the date of this Certificate, except as set forth below;
and

 

4.  Schedule I attached hereto
sets forth financial data and computations evidencing the Borrower’s compliance
with certain covenants of the Agreement, all of which data and computations are
true, complete and correct.

 

Described below are the exceptions, if any, to paragraph 3 by listing,
in detail, the nature of the condition or event, the period during which it has
existed and the action which the Company has taken, is taking, or proposes to
take with respect to each such condition or event:

 

 

 

 

The foregoing certifications, together with the computations set forth
in Schedule I hereto and the financial statements delivered with this
Certificate in support hereof, are made and delivered this      day
of               ,        .

 

 

SCHEDULE I
TO COMPLIANCE CERTIFICATE

 

Compliance as
of                   ,
         with

Provisions of        and          of

the Agreement

 

 

EXHIBIT B

 

ASSIGNMENT AND ASSUMPTION AGREEMENT

 

This Assignment and Assumption (the “Assignment and Assumption”)
is dated as of the Effective Date set forth below and is entered into by and
between [Insert name of Assignor] (the “Assignor”)
and [Insert name of Assignee] (the “Assignee”).  Capitalized terms used but not defined herein
shall have the meanings given to them in the Amended and Restated Long-Term
Credit Agreement identified below (as amended, the “Credit Agreement”),
receipt of a copy of which is hereby acknowledged by the Assignee.  The Standard Terms and Conditions set forth
in Annex 1 attached hereto are hereby agreed to and incorporated herein by
reference and made a part of this Assignment and Assumption as if set forth
herein in full.

 

For an agreed
consideration, the Assignor hereby irrevocably sells and assigns to the
Assignee, and the Assignee hereby irrevocably purchases and assumes from the
Assignor, subject to and in accordance with the Standard Terms and Conditions
and the Credit Agreement, as of the Effective Date inserted by the
Administrative Agent as contemplated below (i) all of the Assignor’s
rights and obligations in its capacity as a Lender under the Credit Agreement
and any other documents or instruments delivered pursuant thereto to the extent
related to the amount and percentage interest identified below of all of such
outstanding rights and obligations of the Assignor under the respective facilities
identified below (including any letters of credit and guarantees included in
such facilities) and (ii) to the extent permitted to be assigned under
applicable law, all claims, suits, causes of action and any other right of the
Assignor (in its capacity as a Lender) against any Person, whether known or
unknown, arising under or in connection with the Credit Agreement, any other
documents or instruments delivered pursuant thereto or the loan transactions
governed thereby or in any way based on or related to any of the foregoing,
including contract claims, tort claims, malpractice claims, statutory claims
and all other claims at law or in equity related to the rights and obligations
sold and assigned pursuant to clause (i) above (the rights and obligations
sold and assigned pursuant to clauses (i) and (ii) above being
referred to herein collectively as the “Assigned Interest”).  Such sale and assignment is without recourse
to the Assignor and, except as expressly provided in this Assignment and
Assumption, without representation or warranty by the Assignor.

 

	
  1.

  	
  Assignor:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  2.

  	
  Assignee:

  	
   

  	
   

  
	
   

  	
   

  	
  [and is an Affiliate/Approved Fund of [identify
  Lender]]

  
	
   

  	
   

  	
   

  
	
  3.

  	
  Borrower(s):

  	
  Bemis Company, Inc. and various subsidiaries

  
	
   

  	
   

  	
   

  
	
  4.

  	
  Administrative Agent:

  	
  JPMorgan Chase Bank, National Association, as the administrative
  agent under the Amended and Restated Long-Term Credit Agreement

  
	
   

  	
   

  	
   

  
	
  5.

  	
  Credit Agreement:

  	
  The Amended and Restated Long-Term Credit Agreement dated as of
  April 29, 2008 among Bemis Company, Inc., various subsidiaries
  thereof, the Lenders parties thereto, JPMorgan Chase Bank, National
  Association, as Administrative Agent, and the other agents parties thereto

  

 

 

6.                                       
Assigned Interest:

 

	
  Facility Assigned

  	
   

  	
  Aggregate Amount of

  Commitment/Loans for

  all Lenders

  	
   

  	
  Amount of

  Commitment/Loans

  Assigned

  	
   

  	
  Percentage Assigned of

  Commitment/Loans

  	
   

  
	
   

  	
   

  	
  $

  	
         

  	
   

  	
  $

  	
         

  	
   

  	
   

  	
  %

  
	
   

  	
   

  	
  $

  	
         

  	
   

  	
  $

  	
         

  	
   

  	
   

  	
  %

  
	
   

  	
   

  	
  $

  	
         

  	
   

  	
  $

  	
         

  	
   

  	
   

  	
  %

  

 

Effective Date:                             
      , 20      
[TO BE INSERTED BY ADMINISTRATIVE AGENT AND WHICH SHALL BE THE EFFECTIVE DATE
OF RECORDATION OF TRANSFER IN THE REGISTER THEREFOR.]

 

The terms set
forth in this Assignment and Assumption are hereby agreed to:

 

	
   

  	
  ASSIGNOR

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  [NAME OF
  ASSIGNOR]

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
  Title:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  ASSIGNEE

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  [NAME OF ASSIGNEE]

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
  Title:

  	
   

  
				

 

 

	
  [Consented to and] Accepted:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  JPMORGAN
  CHASE BANK, NATIONAL ASSOCIATION,

  	
   

  	
   

  
	
    as Administrative Agent

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By

  	
   

  	
   

  
	
    Title:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  [Consented to:]

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  [NAME OF RELEVANT PARTY]

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By

  	
   

  	
   

  
	
    Title:

  	
   

  	
   

  
						

 

 

cc: J. P. Morgan Europe Limited, Fax no. 44 207 777 2360

 

 

ANNEX 1

 

STANDARD TERMS AND CONDITIONS
FOR

ASSIGNMENT AND ASSUMPTION

 

1.  Representations
and Warranties.

 

1.1   Assignor.  The Assignor (a) represents and warrants
that (i) it is the legal and beneficial owner of the Assigned Interest, (ii) the
Assigned Interest is free and clear of any lien, encumbrance or other adverse
claim and (iii) it has full power and authority, and has taken all action
necessary, to execute and deliver this Assignment and Assumption and to
consummate the transactions contemplated hereby; and (b) assumes no
responsibility with respect to (i) any statements, warranties or
representations made in or in connection with the Credit Agreement or any other
Loan Document, (ii) the execution, legality, validity, enforceability,
genuineness, sufficiency or value of the Loan Documents or any collateral
thereunder, (iii) the financial condition of any Borrower, any of its
Subsidiaries or Affiliates or any other Person obligated in respect of any Loan
Document or (iv) the performance or observance by any Borrower, any of its
Subsidiaries or Affiliates or any other Person of any of their respective
obligations under any Loan Document.

 

1.2.  Assignee.  The Assignee (a) represents and warrants
that (i) it has full power and authority, and has taken all action
necessary, to execute and deliver this Assignment and Assumption and to
consummate the transactions contemplated hereby and to become a Lender under the
Credit Agreement, (ii) it satisfies the requirements, if any, specified in
the Credit Agreement that are required to be satisfied by it in order to
acquire the Assigned Interest and become a Lender, (iii) from and after
the Effective Date, it shall be bound by the provisions of the Credit Agreement
as a Lender thereunder and, to the extent of the Assigned Interest, shall have
the obligations of a Lender thereunder, (iv) it has received a copy of the
Credit Agreement, together with copies of the most recent financial statements
delivered pursuant to Section 6.1 thereof, as applicable, and such other
documents and information as it has deemed appropriate to make its own credit
analysis and decision to enter into this Assignment and Assumption and to
purchase the Assigned Interest on the basis of which it has made such analysis
and decision independently and without reliance on the Administrative Agent or
any other Lender, and (v) if it is a Non-U.S. Lender, attached to the
Assignment and Assumption is any documentation required to be delivered by it
pursuant to the terms of the Credit Agreement, duly completed and executed by
the Assignee; and (b) agrees that (i) it will, independently and
without reliance on the Administrative Agent, the Assignor or any other Lender,
and based on such documents and information as it shall deem appropriate at the
time, continue to make its own credit decisions in taking or not taking action
under the Loan Documents, and (ii) it will perform in accordance with
their terms all of the obligations which by the terms of the Loan Documents are
required to be performed by it as a Lender.

 

2.   Payments.    From and after the Effective Date, the
Administrative Agent shall make all payments in respect of the Assigned
Interest (including payments of principal, interest, fees and other amounts) to
the Assignor for amounts which have accrued to but excluding the Effective Date
and to the Assignee for amounts which have accrued from and after the Effective
Date.

 

3.  General
Provisions. This Assignment and Assumption shall be binding upon, and inure
to the benefit of, the parties hereto and their respective successors and
assigns.  This Assignment and Assumption
may be executed in any number of counterparts, which together shall constitute
one instrument.  Delivery of an executed
counterpart of a signature page of this Assignment and Assumption by
telecopy shall be effective as delivery of a manually executed counterpart of
this Assignment and 

 

 

Assumption.  This Assignment and
Assumption shall be governed by, and construed in accordance with, the law of
the State of New York.

 

 

EXHIBIT C

 

BORROWING SUBSIDIARY CONFIRMATION

 

[Date]

 

JPMorgan Chase Bank, National Association, as Administrative Agent

 

Attention: 

 

Ladies and Gentlemen:

 

Please refer to the Amended and Restated Long-Term Credit Agreement
dated as of April 29, 2008 (as amended or otherwise modified from time to
time, the “Long-Term Credit Agreement”) among Bemis Company, Inc.
(the “Company”), the Borrowing Subsidiaries named therein, the financial
institutions from time to time party thereto and JPMorgan Chase Bank, National
Association, as Administrative Agent. 
Capitalized terms used and not defined herein shall have the meanings
assigned to such terms in the Credit Agreement.

 

The undersigned, a “Borrowing Subsidiary” under and as defined in the
Existing Agreement, agrees with the Company and the Administrative Agent that
after giving effect to the effectiveness of the Long-Term Credit Agreement, the
undersigned will be a Borrowing Subsidiary under the Long-Term Credit
Agreement.  In furtherance of the
foregoing, the undersigned (a) represents and warrants that on the
Effective Date each representation and warranty as to the undersigned contained
in Article V of the Long Term Credit Agreement is true and correct as if
made on such date, except to the extent any such representation or warranty is
stated to relate solely to an earlier date, in which case such representation
or warranty shall have been true and correct on and as of such earlier date; (b) confirms that it will perform all of the
obligations of a Borrowing Subsidiary under the Long-Term Credit Agreement; (c) confirms
that each reference to a Borrowing Subsidiary in the Long-Term Credit Agreement
shall be deemed to include the undersigned; [and] (d) confirms that all
Loans to the undersigned under the Long Term Credit Agreement shall be
denominated in [LIST AGREED CURRENCY] [; and (e) confirms that the “Loans”
(as defined in the Existing Agreement) identified on Schedule 1, which
currently are outstanding under the Existing Agreement, will become Loans under
the Long Term Credit Agreement on the Effective Date. 

 

 

This instrument shall be construed in accordance with
and governed by the laws of the State of New York.

 

	
   

  	
  Very truly yours,

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  [BORROWING SUBSIDIARY]

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
  Name:

  	
   

  
	
   

  	
  Title:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  
	
  Accepted and agreed as of the date first above written:

  	
   

  
	
   

  	
   

  
	
  JPMORGAN CHASE BANK, NATIONAL ASSOCIATION,

  	
   

  
	
  as Administrative Agent

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  By:

  	
   

  	
   

  
	
  Name:

  	
   

  	
   

  
	
  Title:

  	
   

  	
   

  
	
   

  
	
   

  
	
  BEMIS COMPANY, INC.

  	
   

  
	
   

  	
   

  
	
  By:

  	
   

  	
   

  
	
  Name:

  	
   

  	
   

  
	
  Title:

  	
   

  	
   

  
												

 

 

Schedule 1 to Borrowing Subsidiary
Confirmation

 

Existing Loans:

 

 

EXHIBIT D

Associated
Costs Rates

 

1.           The Mandatory Cost is an addition to the
interest rate to compensate Lenders for the cost of compliance with (a) the
requirements of the Bank of England and/or the Financial Services Authority
(or, in either case, any other authority which replaces all or any of its
functions) or (b) the requirements of the European Central Bank.

 

2.           On the first day of each Interest Period
(or as soon as possible thereafter) the Agent shall calculate, as a percentage
rate, a rate (the “Additional Cost Rate”) for each Lender, in accordance
with the paragraphs set out below.  The
Mandatory Cost will be calculated by the Agent as a weighted average of the
Lenders’ Additional Cost Rates (weighted in proportion to the percentage
participation of each Lender in the relevant Loan) and will be expressed as a
percentage rate per annum.

 

3.           The Additional Cost Rate for any Lender
lending from a Facility Office in a Participating Member State will be the
percentage notified by that Lender to the Agent.  This percentage will be certified by that
Lender in its notice to the Agent to be its reasonable determination of the
cost (expressed as a percentage of that Lender’s participation in all Loans
made from that Facility Office) of complying with the minimum reserve
requirements of the European Central Bank in respect of loans made from that
Facility Office.

 

4.           The Additional Cost Rate for any Lender
lending from a Facility Office in the United Kingdom will be calculated by the
Agent as follows:

 

(a)              in relation to a
sterling Loan:

 

	
   

  	
  AB + C(B
  – D) + E x  0.01

  	
   

  
	
   

  	
  100 – (A+C)

  	
   

  

per cent. per annum

 

(b)           in relation to a Loan in any currency
other than sterling:

 

	
   

  	
  E x 0.01

  	
   

  
	
   

  	
  300

  	
   

  

per cent. per annum.

 

Where:

 

A         is the percentage of
Eligible Liabilities (assuming these to be in excess of any stated minimum)
which that Lender is from time to time required to maintain as an interest free
cash ratio deposit with the Bank of England to comply with cash ratio
requirements.

B          is the percentage rate
of interest (excluding the Margin and the Mandatory Cost and, if the Loan is an
Unpaid Sum, the additional rate of interest specified in Section 2.12 of
the Long-Term Credit Agreement payable for the relevant Interest Period on the
Loan.

C          is the percentage (if
any) of Eligible Liabilities which that Lender is required from time to time to
maintain as interest bearing Special Deposits with the Bank of England.

 

 

D          is the percentage rate
per annum payable by the Bank of England to the Agent on interest bearing
Special Deposits.

E          is designed to
compensate Lenders for amounts payable under the Fees Rules and is
calculated by the Agent as being the average of the most recent rates of charge
supplied by the Reference Banks to the Agent pursuant to paragraph 7 below and
expressed in pounds per £1,000,000.

 

5.           For the purposes of this Schedule:

 

(a)           “Eligible
Liabilities” and “Special Deposits” have the meanings given to them
from time to time under or pursuant to the Bank of England Act 1998 or (as may
be appropriate) by the Bank of England;

(b)           “Fees Rules”
means the rules on periodic fees contained in the FSA Supervision Manual
or such other law or regulation as may be in force from time to time in respect
of the payment of fees for the acceptance of deposits;

(c)           “Fee Tariffs”
means the fee tariffs specified in the Fees Rules under the activity group
A.1 Deposit acceptors (ignoring any minimum fee or zero rated fee required
pursuant to the Fees Rules but taking into account any applicable discount
rate); and

(d)           “Tariff Base” has
the meaning given to it in, and will be calculated in accordance with, the Fees
Rules.

 

6.           In application of the above formulae, A,
B, C and D will be included in the formulae as percentages (i.e. 5 per cent.
will be included in the formula as 5 and not as 0.05).  A negative result obtained by subtracting D
from B shall be taken as zero.  The
resulting figures shall be rounded to four decimal places.

 

7.           If requested by the Agent, each Reference
Bank shall, as soon as practicable after publication by the Financial Services
Authority, supply to the Agent, the rate of charge payable by that Reference
Bank to the Financial Services Authority pursuant to the Fees Rules in
respect of the relevant financial year of the Financial Services Authority
(calculated for this purpose by that Reference Bank as being the average of the
Fee Tariffs applicable to that Reference Bank for that financial year) and
expressed in pounds per £1,000,000 of the Tariff Base of that Reference Bank.

 

8.           Each Lender shall supply any information
required by the Agent for the purpose of calculating its Additional Cost
Rate.  In particular, but without
limitation, each Lender shall supply the following information on or prior to
the date on which it becomes a Lender:

 

(a)            the jurisdiction of its Facility Office;
and

 

(b)            any other information that the Agent may
reasonably require for such purpose.

 

Each
Lender shall promptly notify the Agent of any change to the information
provided by it pursuant to this paragraph.

 

9.           The percentages of each Lender for the
purpose of A and C above and the rates of charge of each Reference Bank for the
purpose of E above shall be determined by the Agent based upon the information
supplied to it pursuant to paragraphs 7 and 8 above and on the 

 

 

assumption that, unless a Lender notifies
the Agent to the contrary, each Lender’s obligations in relation to cash ratio
deposits and Special Deposits are the same as those of a typical bank from its
jurisdiction of incorporation with a Facility Office in the same jurisdiction
as its Facility Office.

 

10.         The Agent shall have no liability to any
person if such determination results in an Additional Cost Rate which over or
under compensates any Lender and shall be entitled to assume that the
information provided by any Lender or Reference Bank pursuant to paragraphs 3,
7 and 8 above is true and correct in all respects.

 

11.         The Agent shall distribute the additional
amounts received as a result of the Mandatory Cost to the Lenders on the basis
of the Additional Cost Rate for each Lender based on the information provided
by each Lender and each Reference Bank pursuant to paragraphs 3, 7 and 8 above.

 

12.         Any determination by the Agent pursuant
to this Schedule in relation to a formula, the Mandatory Cost, an Additional Cost
Rate or any amount payable to a Lender shall, in the absence of manifest error,
be conclusive and binding on all Parties.

 

13.         The Agent may from time to time, after
consultation with the Company and the Lenders, determine and notify to all
Parties any amendments which are required to be made to this Schedule in order
to comply with any change in law, regulation or any requirements from time to
time imposed by the Bank of England, the Financial Services Authority or the
European Central Bank (or, in any case, any other authority which replaces all
or any of its functions) and any such determination shall, in the absence of
manifest error, be conclusive and binding on all Parties.

 

 

EXHIBIT E

FORM OF INCREASE REQUEST

 

                                                      ,
20      

 

JPMorgan Chase Bank, National Association, as Administrative Agent

  under the Amended and Restated
Long-Term Credit Agreement referred to below

[ADDRESS]

Attention:  [                              ]

 

Ladies/Gentlemen:

 

Please refer to the Amended and Restated Long-Term
Credit Agreement dated as of April 29, 2008 (as amended or otherwise
modified from time to time, the “Credit Agreement”) among Bemis Company, Inc.
(the “Company”), various subsidiaries of the Company, various financial
institutions and JPMorgan Chase Bank, National Association, as Administrative
Agent.  Capitalized terms used but not
defined herein have the respective meanings set forth in the Credit Agreement.

 

In accordance with Section 2.5.4 of the Credit
Agreement, the Company hereby requests an increase in the Aggregate Commitment
from $                    
to $                    .  Such increase shall be made by [increasing
the Commitment of                         
from $                
to $                ]
[adding                           
as an Additional Lender under the Credit Agreement with a Commitment of $                        ]
as set forth in the letter attached hereto. 
Such increase shall be effective three Business Days after the date that
the Administrative Agent acknowledges receipt of the letter attached hereto or
such other date as is agreed among the Company, the Administrative Agent and
the [increasing] [Additional] Lender.

 

	
   

  	
  Very truly yours,

  
	
   

  	
   

  
	
   

  	
  BEMIS COMPANY, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
  Name:

  	
   

  
	
   

  	
  Title:

  	
   

  
				

 

 

ANNEX 1 TO EXHIBIT E

 

[Date]

 

JPMorgan Chase Bank, National Association, as Administrative Agent

  under the Amended and Restated
Long-Term Credit Agreement referred to below

[ADDRESS]

Attention:  [                              ]

 

Ladies/Gentlemen:

 

Please refer to the letter dated                     ,
20     from Bemis Company, Inc. (the “Company”)
requesting an increase in the Aggregate Commitment from $                    
to $                    
pursuant to Section 2.5.4 of the Amended and Restated Long-Term Credit
Agreement dated as of April 29, 2008 (as amended or otherwise modified
from time to time, the “Credit Agreement”) among the Company, various
subsidiaries of the Company, various financial institutions and JPMorgan Chase
Bank, National Association, as Administrative Agent.  Capitalized terms used but not defined herein
have the respective meanings set forth in the Credit Agreement.

 

The undersigned hereby confirms that it has agreed to
increase its Commitment under the Credit Agreement from $                    
to $                    
effective on the date which is three Business Days after the acknowledgment of
receipt hereof by the Administrative Agent or on such other date as may be
agreed among the Company, the Administrative Agent and the undersigned.

 

	
   

  	
  Very truly yours,

  
	
   

  	
   

  
	
   

  	
  [NAME OF INCREASING LENDER]

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
  Title:

  	
   

  
	
   

  	
   

  	
   

  
	
  Receipt acknowledged as of

  	
   

  
	
                            ,
  20

  	
   

  
	
   

  	
   

  
	
  JPMORGAN CHASE BANK, NATIONAL ASSOCIATION, as Administrative Agent

  
	
   

  	
   

  
	
   

  	
   

  
	
  By:

  	
   

  	
   

  
	
  Name:

  	
   

  	
   

  
	
  Title:

  	
   

  	
   

  
							

 

 

ANNEX 2 TO EXHIBIT E

 

[Date]

 

JPMorgan Chase Bank, National Association, as Administrative Agent

  under the Amended and Restated
Long-Term Credit Agreement referred to below

[ADDRESS]

Attention:  [                              ]

 

Ladies/Gentlemen:

 

Please refer to the letter dated                     ,
20       from Bemis Company, Inc. (the “Company”)
requesting an increase in the Aggregate Commitment from $                    
to $                    
pursuant to Section 2.5.4 of the Amended and Restated Long-Term Credit
Agreement dated as of April 29, 2008 (as amended or otherwise modified
from time to time, the “Credit Agreement”) among the Company, various
Subsidiaries of the Company, various financial institutions and JPMorgan Chase
Bank, National Association, as Administrative Agent.  Capitalized terms used but not defined herein
have the respective meanings set forth in the Credit Agreement.

 

The undersigned hereby confirms that it has agreed to
become a Lender under the Credit Agreement with a Commitment of $                    
effective on the date which is three Business Days after the acknowledgement of
receipt hereof, and consent hereto, by the Administrative Agent or on such
other date as may be agreed among the Company, the Administrative Agent and the
undersigned.

 

The undersigned (a) acknowledges that it has
received a copy of the Credit Agreement and the Schedules and Exhibits thereto,
together with copies of the most recent financial statements delivered by the Company
pursuant to the Credit Agreement, and such other documents and information as
it has deemed appropriate to make its own credit and legal analysis and
decision to become a Lender under the Credit Agreement; and (b) agrees
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 and legal
decisions in taking or not taking action under the Credit Agreement.

 

The undersigned represents and warrants that (i) it
is duly organized and existing and it has full power and authority to take, and
has taken, all action necessary to execute and deliver this letter and to
consummate the transactions contemplated hereby and to become a Lender under
the Credit Agreement; and (ii) no notices to, or consents, authorizations
or approvals of, any Person are required (other than any already given or
obtained) for its due execution and delivery of this letter and the performance
of its obligations as a Lender under the Credit Agreement.

 

 

The undersigned agrees to execute and deliver such
other instruments, and take such other actions, as the Administrative Agent or
the Company may reasonably request in connection with the transactions
contemplated by this letter.

 

 

The following administrative details apply to the undersigned:

 

	
  (A)

  	
  Notice Address:

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Legal name:

  	
   

  	
   

  
	
   

  	
  Address:

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Attention:

  	
   

  	
   

  
	
   

  	
  Telephone: (   )

  	
   

  	
   

  
	
   

  	
  Facsimile:  (   )

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  (B)

  	
  Payment Instructions:

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Account No.:

  	
   

  	
   

  
	
   

  	
  At:

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Reference:

  	
   

  	
   

  
	
   

  	
  Attention:

  	
   

  	
   

  
											

 

The undersigned acknowledges and agrees that, on the
date on which the undersigned becomes a Lender under the Credit Agreement as
set forth in the second paragraph hereof, the undersigned (a) will be
bound by the terms of the Credit Agreement as fully and to the same extent as
if the undersigned were an original Lender under the Credit Agreement and (b) will
perform in accordance with their terms all of the obligations which by the
terms of the Loan Documents are required to be performed by it as a Lender.

 

This letter shall be binding upon, and inure to the
benefit of, the parties hereto and their respective successors and
assigns.  This letter may be executed in
any number of counterparts, which together shall constitute one
instrument.  Delivery of an executed
counterpart of a signature page of this letter by telecopy shall be
effective as delivery of a manually executed counterpart of this letter.  This letter shall be governed by, and
construed in accordance with, the law of the State of New York.

 

	
   

  	
  Very truly yours,

  
	
   

  	
   

  
	
   

  	
  [NAME OF NEW LENDER]

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
  Title:

  	
   

  
				

 

 

Acknowledged and consented to as of

                            ,
20   

 

JPMORGAN CHASE BANK, NATIONAL ASSOCIATION, as Administrative Agent

 

	
  By:

  	
   

  	
   

  
	
  Name:

  	
   

  	
   

  
	
  Title:

  	
   

  	
   

  
					

 

 

EXHIBIT F-1

 

BORROWING SUBSIDIARY AGREEMENT

 

[Date]

 

JPMorgan Chase Bank, National Association, as Administrative Agent

 

Attention:                         

 

Ladies and Gentlemen:

 

The undersigned, Bemis Company, Inc. (the “Company”), refers to
the Amended and Restated Long-Term Credit Agreement dated as of April 29,
2008 (as amended or otherwise modified from time to time, the “Credit Agreement”)
among the Company, the Borrowing Subsidiaries named therein, the financial
institutions from time to time party thereto and JPMorgan Chase Bank, National
Association, as Administrative Agent. 
Capitalized terms used and not otherwise defined herein shall have the
meanings assigned to such terms in the Credit Agreement.

 

The Company requests that        
(the “Designated Borrowing Subsidiary”) become a Borrowing Subsidiary under the
Credit Agreement effective on               .  The Company and the Designated Borrowing
Subsidiary make, on and as of the date of such effectiveness, the
representations and warranties as to the Designated Borrowing Subsidiary
contained in Article V of the Credit Agreement.  The Designated Borrowing Subsidiary agrees to
be bound in all respects by the terms of the Credit Agreement and to perform
all of the obligations of a Borrowing Subsidiary thereunder.  Each reference to a Borrowing Subsidiary in
the Agreement shall be deemed to include the Designated Borrowing Subsidiary.

 

All communications to the Designated Borrowing Subsidiary under the
Credit Agreement should be directed to the Company as set forth in the Section 13.1
of the Credit Agreement.

 

This instrument shall be construed in accordance with and governed by
the laws of the State of New York.

 

Upon the execution of this Borrowing Subsidiary Agreement by the
Company and the Designated Borrowing Subsidiary [and the Lenders listed below]*
and acceptance hereof by the Administrative Agent, the Designated Borrowing
Subsidiary shall become a Borrowing Subsidiary under the Credit Agreement as
though it were an original party thereto and shall be entitled to borrow under
the Credit Agreement upon the satisfaction of the conditions precedent set
forth in Article IV of the Credit Agreement.

 

The Designated Borrowing Subsidiary will request Loans denominated in
[LIST AGREED CURRENCY].

 

*Insert only if not all Lenders will participate in Loans to the
Designated Borrowing Subsidiary.

 

 

	
   

  	
  Very truly yours,

  
	
   

  	
   

  
	
   

  	
  BEMIS COMPANY, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
  Name:

  	
   

  
	
   

  	
  Title:

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  [DESIGNATED BORROWING

  SUBSIDIARY]

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
  Name:

  	
   

  
	
   

  	
  Title:

  	
   

  
				

 

Accepted as of the date first above written.

JPMORGAN CHASE BANK, NATIONAL ASSOCIATION, as Administrative Agent

 

	
  By:

  	
   

  	
   

  
	
  Name:

  	
   

  	
   

  
	
  Title:

  	
   

  	
   

  
					

 

 

Attachment 1 to Borrowing Subsidiary
Agreement

 

Set forth below are the Lenders that will be BSub Lenders with respect
to the Designated Borrowing Subsidiary and the BSub Commitments and BSub
Percentages of such Lenders:

 

 

EXHIBIT
F-2

 

BORROWING SUBSIDIARY TERMINATION

 

[Date]

 

JPMorgan Chase Bank, National Association, as Administrative Agent

 

Attention:          

 

Ladies and Gentlemen:

 

Bemis Company, Inc. (the “Company”), refers to the Amended and
Restated Long-Term Credit Agreement dated as of April 29, 2008 (as amended
or otherwise modified from time to time, the “Credit Agreement”), among the
Company, the Borrowing Subsidiaries named therein, the financial institutions
from time to time party thereto and JPMorgan Chase Bank, National Association,
as Administrative Agent.  Capitalized
terms used and not otherwise defined herein shall have the meanings assigned to
such terms in the Credit Agreement.

 

The Company elects to terminate the status of           
(the “Terminated Borrowing Subsidiary”) as a Borrowing Subsidiary for purposes
of the Credit Agreement.  The Company
represents and warrants that no Loans or Letters of Credit made to or issued
for the account of the Terminated Borrowing Subsidiary are outstanding as of
the date hereof and that all principal and interest on all Loans, and all
reimbursement obligations with respect to Letters of Credit payable by the
Terminated Borrowing Subsidiary pursuant to the Credit Agreement have been paid
in full on or prior to the date hereof.

 

This instrument shall be construed in accordance with and governed by
the laws of the State of New York.

 

	
   

  	
  Very truly yours,

  
	
   

  	
   

  
	
   

  	
  BEMIS COMPANY, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
  Name:

  	
   

  
	
   

  	
  Title:Exhibit 10(o)

 

AMENDED AND RESTATED

364-DAY CREDIT AGREEMENT

 

DATED AS OF APRIL 29, 2008

 

AMONG

 

BEMIS COMPANY, INC.,

 

VARIOUS SUBSIDIARIES THEREOF,

 

THE LENDERS PARTY HERETO,

 

JPMORGAN CHASE BANK, NATIONAL
ASSOCIATION,

AS ADMINISTRATIVE AGENT,

 

WACHOVIA BANK, N.A.,

AS SYNDICATION AGENT,

 

AND

 

U.S. BANK NATIONAL ASSOCIATION

AND

WELLS FARGO BANK, N.A.,

AS CO-DOCUMENTATION AGENTS

 

 

J.P. MORGAN SECURITIES INC.

AND

WACHOVIA CAPITAL MARKETS, LLC

CO-LEAD ARRANGERS AND JOINT BOOK RUNNERS

 

 

CONTENTS

 

	
  Clause

  	
   

  	
  Subject Matter

  	
   

  	
  Page

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE
  I

  	
   

  	
  DEFINITIONS AND INTERPRETATION

  	
   

  	
  1

  
	
  1.1.

  	
   

  	
  Definitions

  	
   

  	
  1

  
	
  1.2.

  	
   

  	
  Interpretation

  	
   

  	
  13

  
	
  ARTICLE
  II

  	
   

  	
  THE CREDITS

  	
   

  	
  13

  
	
  2.1.

  	
   

  	
  Commitment

  	
   

  	
  13

  
	
  2.2.

  	
   

  	
  Determination of Dollar Amounts

  	
   

  	
  14

  
	
  2.3.

  	
   

  	
  Ratable Loans

  	
   

  	
  14

  
	
  2.4.

  	
   

  	
  Types of Advances

  	
   

  	
  14

  
	
  2.5.

  	
   

  	
  Fees; Changes in Aggregate Commitment

  	
   

  	
  14

  
	
  2.6.

  	
   

  	
  Minimum Amount of Each Advance

  	
   

  	
  15

  
	
  2.7.

  	
   

  	
  Payments and Prepayments

  	
   

  	
  15

  
	
  2.8.

  	
   

  	
  Method of Selecting Types and Interest Periods for New Advances

  	
   

  	
  16

  
	
  2.9.

  	
   

  	
  Conversion and Continuation of Outstanding Advances

  	
   

  	
  16

  
	
  2.10.

  	
   

  	
  Method of Borrowing

  	
   

  	
  17

  
	
  2.11.

  	
   

  	
  Changes in Interest Rate, etc.

  	
   

  	
  18

  
	
  2.12.

  	
   

  	
  Rates Applicable After Default

  	
   

  	
  18

  
	
  2.13.

  	
   

  	
  Method of Payment

  	
   

  	
  18

  
	
  2.14.

  	
   

  	
  Noteless Agreement; Evidence of Indebtedness

  	
   

  	
  19

  
	
  2.15.

  	
   

  	
  Telephonic Notices

  	
   

  	
  19

  
	
  2.16.

  	
   

  	
  Interest Payment Dates; Interest and Fee Basis

  	
   

  	
  20

  
	
  2.17.

  	
   

  	
  Notification of Advances, Interest Rates, Prepayments and Commitment
  Reductions

  	
   

  	
  20

  
	
  2.18.

  	
   

  	
  Letters of Credit

  	
   

  	
  20

  
	
  2.19.

  	
   

  	
  Lending Installations

  	
   

  	
  24

  
	
  2.20.

  	
   

  	
  Non-Receipt of Funds by the Administrative Agent

  	
   

  	
  25

  
	
  2.21.

  	
   

  	
  Market Disruption

  	
   

  	
  25

  
	
  2.22.

  	
   

  	
  Judgment Currency

  	
   

  	
  26

  
	
  2.23.

  	
   

  	
  Borrowing Subsidiaries; Company as agent for Borrowing Subsidiaries

  	
   

  	
  26

  
	
  2.24.

  	
   

  	
  Effect of Participation Funding Notice

  	
   

  	
  27

  
	
  2.25.

  	
   

  	
  Funding of Participations in Dollars

  	
   

  	
  28

  
	
  ARTICLE
  III

  	
   

  	
  YIELD PROTECTION; TAXES

  	
   

  	
  28

  
	
  3.1.

  	
   

  	
  Yield Protection

  	
   

  	
  28

  

 

i

 

CONTENTS

 

	
  Clause

  	
   

  	
  Subject Matter

  	
   

  	
  Page

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  3.2.

  	
   

  	
  Availability of Types of Advances

  	
   

  	
  29

  
	
  3.3.

  	
   

  	
  Funding Indemnification

  	
   

  	
  29

  
	
  3.4.

  	
   

  	
  Taxes

  	
   

  	
  30

  
	
  3.5.

  	
   

  	
  Lender Statements; Survival of Indemnity

  	
   

  	
  31

  
	
  ARTICLE
  IV

  	
   

  	
  CONDITIONS PRECEDENT

  	
   

  	
  32

  
	
  4.1.

  	
   

  	
  Effectiveness

  	
   

  	
  32

  
	
  4.2.

  	
   

  	
  Each Credit Extension

  	
   

  	
  33

  
	
  4.3.

  	
   

  	
  Initial Loans to a Borrowing Subsidiary

  	
   

  	
  33

  
	
  ARTICLE
  V

  	
   

  	
  REPRESENTATIONS AND WARRANTIES

  	
   

  	
  34

  
	
  5.1.

  	
   

  	
  Corporate Existence and Power

  	
   

  	
  34

  
	
  5.2.

  	
   

  	
  Corporate Authorization

  	
   

  	
  34

  
	
  5.3.

  	
   

  	
  Binding Effect

  	
   

  	
  34

  
	
  5.4.

  	
   

  	
  Financial Statements

  	
   

  	
  34

  
	
  5.5.

  	
   

  	
  Litigation and Contingent Liabilities

  	
   

  	
  35

  
	
  5.6.

  	
   

  	
  Taxes

  	
   

  	
  35

  
	
  5.7.

  	
   

  	
  Governmental and other Approvals

  	
   

  	
  35

  
	
  5.8.

  	
   

  	
  Compliance with ERISA

  	
   

  	
  35

  
	
  5.9.

  	
   

  	
  Environmental Matters

  	
   

  	
  35

  
	
  5.10.

  	
   

  	
  Ownership of Properties; Liens

  	
   

  	
  36

  
	
  5.11.

  	
   

  	
  Subsidiaries

  	
   

  	
  36

  
	
  5.12.

  	
   

  	
  Investment Company Act

  	
   

  	
  36

  
	
  5.13.

  	
   

  	
  Regulation U

  	
   

  	
  36

  
	
  5.14.

  	
   

  	
  Accuracy of Disclosure

  	
   

  	
  36

  
	
  5.15.

  	
   

  	
  No Burdensome Restrictions

  	
   

  	
  36

  
	
  ARTICLE
  VI

  	
   

  	
  COVENANTS

  	
   

  	
  36

  
	
  6.1.

  	
   

  	
  Financial Statements

  	
   

  	
  36

  
	
  6.2.

  	
   

  	
  Maintenance of Existence

  	
   

  	
  38

  
	
  6.3.

  	
   

  	
  Books and Records; Maintenance of Properties; Inspections

  	
   

  	
  38

  
	
  6.4.

  	
   

  	
  Compliance with Laws and Contractual Obligations

  	
   

  	
  38

  
	
  6.5.

  	
   

  	
  Notice of Proceedings

  	
   

  	
  39

  
	
  6.6.

  	
   

  	
  Use of Proceeds

  	
   

  	
  39

  
	
  6.7.

  	
   

  	
  Payment of Taxes

  	
   

  	
  39

  

 

ii

 

CONTENTS

 

	
  Clause

  	
   

  	
  Subject Matter

  	
   

  	
  Page

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  6.8.

  	
   

  	
  Insurance

  	
   

  	
  39

  
	
  6.9.

  	
   

  	
  Maximum Consolidated Debt to Total Capital Ratio

  	
   

  	
  39

  
	
  6.10.

  	
   

  	
  Minimum Consolidated Net Worth

  	
   

  	
  39

  
	
  6.11.

  	
   

  	
  Liens

  	
   

  	
  39

  
	
  6.12.

  	
   

  	
  Consolidations, Mergers and Sales of Assets

  	
   

  	
  40

  
	
  6.13.

  	
   

  	
  Transactions with Affiliates

  	
   

  	
  40

  
	
  6.14.

  	
   

  	
  Business

  	
   

  	
  40

  
	
  6.15.

  	
   

  	
  Burdensome Agreements

  	
   

  	
  40

  
	
  ARTICLE
  VII

  	
   

  	
  DEFAULTS

  	
   

  	
  41

  
	
  ARTICLE
  VIII

  	
   

  	
  ACCELERATION, WAIVERS,
  AMENDMENTS AND REMEDIES

  	
   

  	
  43

  
	
  8.1.

  	
   

  	
  Acceleration

  	
   

  	
  43

  
	
  8.2.

  	
   

  	
  Amendments

  	
   

  	
  43

  
	
  8.3.

  	
   

  	
  Preservation of Rights

  	
   

  	
  44

  
	
  ARTICLE
  IX

  	
   

  	
  GENERAL PROVISIONS

  	
   

  	
  44

  
	
  9.1.

  	
   

  	
  Survival of Representations

  	
   

  	
  44

  
	
  9.2.

  	
   

  	
  Governmental Regulation

  	
   

  	
  44

  
	
  9.3.

  	
   

  	
  Headings

  	
   

  	
  44

  
	
  9.4.

  	
   

  	
  Entire Agreement

  	
   

  	
  44

  
	
  9.5.

  	
   

  	
  Several Obligations; Benefits of this Agreement

  	
   

  	
  45

  
	
  9.6.

  	
   

  	
  Expenses; Indemnification

  	
   

  	
  45

  
	
  9.7.

  	
   

  	
  Numbers of Documents

  	
   

  	
  46

  
	
  9.8.

  	
   

  	
  Accounting

  	
   

  	
  46

  
	
  9.9.

  	
   

  	
  Severability of Provisions

  	
   

  	
  46

  
	
  9.10.

  	
   

  	
  Nonliability of Lenders

  	
   

  	
  46

  
	
  9.11.

  	
   

  	
  Confidentiality

  	
   

  	
  46

  
	
  9.12.

  	
   

  	
  Nonreliance

  	
   

  	
  47

  
	
  9.13.

  	
   

  	
  Disclosure

  	
   

  	
  47

  
	
  9.14.

  	
   

  	
  USA PATRIOT ACT NOTIFICATION

  	
   

  	
  47

  
	
  ARTICLE
  X

  	
   

  	
  THE ADMINISTRATIVE AGENT

  	
   

  	
  48

  
	
  10.1.

  	
   

  	
  Appointment; Nature of Relationship

  	
   

  	
  48

  
	
  10.2.

  	
   

  	
  Powers

  	
   

  	
  48

  
	
  10.3.

  	
   

  	
  General Immunity

  	
   

  	
  48

  
	
  10.4.

  	
   

  	
  No Responsibility for Loans, Recitals, etc.

  	
   

  	
  49

  

 

iii

 

CONTENTS

 

	
  Clause

  	
   

  	
  Subject Matter

  	
   

  	
  Page

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  10.5.

  	
   

  	
  Action on Instructions of Lenders

  	
   

  	
  49

  
	
  10.6.

  	
   

  	
  Employment of Agents and Counsel

  	
   

  	
  49

  
	
  10.7.

  	
   

  	
  Reliance on Documents; Counsel

  	
   

  	
  49

  
	
  10.8.

  	
   

  	
  Agent’s Reimbursement and Indemnification

  	
   

  	
  50

  
	
  10.9.

  	
   

  	
  Notice of Default

  	
   

  	
  50

  
	
  10.10.

  	
   

  	
  Rights as a Lender

  	
   

  	
  50

  
	
  10.11.

  	
   

  	
  Lender Credit Decision

  	
   

  	
  50

  
	
  10.12.

  	
   

  	
  Successor Agent

  	
   

  	
  51

  
	
  10.13.

  	
   

  	
  Agent and Arranger Fees

  	
   

  	
  52

  
	
  10.14.

  	
   

  	
  Delegation to Affiliates

  	
   

  	
  52

  
	
  10.15.

  	
   

  	
  Other Agents

  	
   

  	
  52

  
	
  ARTICLE
  XI

  	
   

  	
  SETOFF; RATABLE PAYMENTS

  	
   

  	
  52

  
	
  11.1.

  	
   

  	
  Setoff

  	
   

  	
  52

  
	
  11.2.

  	
   

  	
  Sharing of Payments

  	
   

  	
  52

  
	
  ARTICLE XII

  	
   

  	
  ASSIGNMENTS;
  PARTICIPATIONS; ETC.

  	
   

  	
  53

  
	
  12.1.

  	
   

  	
  Successors and Assigns

  	
   

  	
  53

  
	
  12.2.

  	
   

  	
  Dissemination of Information

  	
   

  	
  56

  
	
  12.3.

  	
   

  	
  Tax Treatment

  	
   

  	
  56

  
	
  ARTICLE
  XIII

  	
   

  	
  NOTICES

  	
   

  	
  56

  
	
  13.1.

  	
   

  	
  Notices; Effectiveness; Electronic Communication

  	
   

  	
  56

  
	
  ARTICLE
  XIV

  	
   

  	
  COUNTERPARTS; EFFECT OF
  RESTATEMENT; ELECTRONIC EXECUTION

  	
   

  	
  57

  
	
  14.1.

  	
   

  	
  Counterparts

  	
   

  	
  57

  
	
  14.2.

  	
   

  	
  Effect of Restatement

  	
   

  	
  57

  
	
  14.3.

  	
   

  	
  Electronic Execution of Assignments

  	
   

  	
  58

  
	
  ARTICLE
  XV

  	
   

  	
  GUARANTY BY THE COMPANY

  	
   

  	
  58

  
	
  15.1.

  	
   

  	
  Guaranty

  	
   

  	
  58

  
	
  15.2.

  	
   

  	
  Guaranty Unconditional

  	
   

  	
  58

  
	
  15.3.

  	
   

  	
  Discharge only upon Payment in Full; Reinstatement in Certain
  Circumstances

  	
   

  	
  59

  
	
  15.4.

  	
   

  	
  Waiver by the Company

  	
   

  	
  59

  
	
  15.5.

  	
   

  	
  Subrogation

  	
   

  	
  59

  
	
  15.6.

  	
   

  	
  Stay of Acceleration

  	
   

  	
  59

  
	
  ARTICLE
  XVI

  	
   

  	
  CHOICE OF LAW; CONSENT TO
  JURISDICTION; WAIVER OF JURY TRIAL

  	
   

  	
  60

  

 

iv

 

CONTENTS

 

	
  Clause

  	
   

  	
  Subject Matter

  	
   

  	
  Page

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  16.1.

  	
   

  	
  CHOICE OF LAW

  	
   

  	
  60

  
	
  16.2.

  	
   

  	
  CONSENT TO JURISDICTION

  	
   

  	
  60

  
	
  16.3.

  	
   

  	
  WAIVER OF JURY TRIAL

  	
   

  	
  60

  

 

PRICING
SCHEDULE

 

	
  EXHIBIT
  A

  	
   

  	
  COMPLIANCE
  CERTIFICATE

  
	
  EXHIBIT
  B

  	
   

  	
  ASSIGNMENT
  AND ASSUMPTION

  
	
  EXHIBIT
  C

  	
   

  	
  BORROWING
  SUBSIDIARY CONFIRMATION

  
	
  EXHIBIT
  D

  	
   

  	
  ASSOCIATED
  COSTS RATE

  
	
  EXHIBIT
  E

  	
   

  	
  INCREASE
  REQUEST

  
	
  EXHIBIT
  F-1

  	
   

  	
  BORROWING
  SUBSIDIARY AGREEMENT

  
	
  EXHIBIT
  F-2

  	
   

  	
  BORROWING
  SUBSIDIARY TERMINATION

  

 

v

 

EXECUTION VERSION

 

AMENDED
AND RESTATED 364-DAY CREDIT AGREEMENT

 

This Amended
and Restated 364-Day Credit Agreement dated as of April 29, 2008 is among
Bemis Company, Inc., a Missouri corporation (together with its successors
and assigns, the “Company”), the subsidiaries of the Company which from
time to time become parties hereto pursuant to Section 2.23 (each a
“Borrowing Subsidiary” and collectively the “Borrowing Subsidiaries”),
the Lenders, Wachovia Bank, N.A., as Syndication Agent, U.S. Bank National
Association and Wells Fargo Bank, N.A., as Co-Documentation Agents, and
JPMorgan Chase Bank, National Association (“JPMCB”), as Administrative
Agent.

 

The Company,
certain lenders and JPMCB (as successor to Bank One, NA) are parties to a
credit agreement dated as of September 2, 2004 (the “Existing Agreement”);
and

 

The parties
hereto have agreed to amend and restate the Existing Agreement pursuant to this
Agreement and the Long-Term Credit Agreement (as defined below);

 

Accordingly,
the parties hereto agree as follows:

 

ARTICLE I

DEFINITIONS AND INTERPRETATION

 

1.1.          Definitions.  As used in this Agreement:

 

“Administrative
Agent” means JPMCB, together with its affiliates, in its capacity as
contractual representative of the Lenders pursuant to Article X, and
not in its individual capacity as a Lender, and any successor Administrative
Agent appointed pursuant to Article X; it being understood that
matters concerning Loans denominated in British Pounds Sterling, Euro and
certain other Agreed Currencies may be administered by JPMEL.

 

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

 

“Advance”
means a Domestic Advance or a Multicurrency Advance, as the context requires.

 

“Affiliate” of
any Person means any other Person directly or indirectly controlling,
controlled by or under common control with such Person.  A Person shall be deemed to control another
Person if the controlling Person owns 10% or more of any class of voting
securities (or other ownership interests) of the controlled Person or
possesses, directly or indirectly, the power to direct or cause the direction
of the management or policies of the controlled Person, whether through
ownership of stock, by contract or otherwise.

 

“Aggregate
Commitment” means the aggregate of the Commitments of all the Lenders, as
changed from time to time pursuant to the terms hereof.

 

1

 

“Aggregate
Outstanding Credit Exposure” means, at any time, the aggregate of the
Outstanding Credit Exposure of all Lenders.

 

“Agreed
Currencies” means (i) Dollars, (ii) so long as such currencies remain
Eligible Currencies, British Pounds Sterling and Euro and (iii) any other
Eligible Currency that a Borrower requests the Administrative Agent to include
as an Agreed Currency hereunder and which is acceptable to all Lenders (or, in
the case of Loans to any Borrowing Subsidiary, all Lenders that have agreed to
make Loans to such Borrowing Subsidiary).

 

“Agreement”
means this Amended and Restated 364-Day Credit Agreement.

 

“Alternate
Base Rate” means, for any day, a rate of interest per annum equal to the
highest of (i) the Prime Rate for such day and (ii) the sum of the
Federal Funds Effective Rate for such day plus 1/2% per annum.

 

“Applicable
Margin” means, with respect to Advances of any Type at any time, the percentage
rate per annum which is applicable at such time with respect to Advances of
such Type as set forth in the Pricing Schedule.

 

“Approximate
Equivalent Amount” of any currency with respect to any amount of Dollars shall
mean the Equivalent Amount of such currency with respect to such amount of
Dollars on or as of such date, rounded up to the nearest amount of such
currency as determined by the Administrative Agent from time to time.

 

“Arrangers”
means JPMorgan and Wachovia, Capital Markets, LLC and their respective
successors, in their capacities as Co-Lead Arrangers and Joint Book Runners.

 

“Assignment
and Assumption” means an assignment and assumption entered into by a Lender and
an assignee (with the consent of any party whose consent is required by Section 12.1(b)),
and accepted by the Administrative Agent, in the form of Exhibit B
or any other form approved by the Administrative Agent.

 

“Associated
Costs Rate” is defined in Exhibit D.

 

“Authorized
Officer” means any of the chief executive officer, the chief financial officer,
any vice president, the controller or the treasurer of the Company, or any
other officer of the Company from time to time designated by any of the
foregoing officers of the Company, in each case acting singly.

 

“Borrower”
means any of the Company and the Borrowing Subsidiaries.

 

“Borrowing
Date” means a date on which an Advance is made hereunder.

 

“Borrowing
Notice” is defined in Section 2.8.

 

“Borrowing
Subsidiary” is defined in the preamble.

 

2

 

“Borrowing
Subsidiary Agreement” means an agreement substantially in the form of Exhibit F-1.

 

“BSub
Commitment” means, for any Lender with respect to any Borrowing Subsidiary, the
obligation of such Lender to make Multicurrency Loans to such Borrowing
Subsidiary.  The amount of the BSub
Commitment of any Lender to any Borrowing Subsidiary shall be equal to such Lender’s
Pro Rata Share of the Aggregate Commitment (or such lesser amount as may be
permitted by this Agreement or the applicable Borrowing Subsidiary Agreement); provided
that if, pursuant to the applicable Borrowing Subsidiary Agreement, one or more
Lenders will not make Loans to such Borrowing Subsidiary, then the BSub
Commitment of any Lender with respect to such Borrowing Subsidiary shall be the
amount set forth on Attachment 1 to such Borrowing Subsidiary Agreement.  Each BSub Commitment of any Lender is a
sublimit of the Commitment of such Lender and not a separate commitment.

 

“BSub Lender”
means, with respect to any Borrowing Subsidiary, each Lender (excluding any
Lender that, pursuant to Section 2.23 and the applicable Borrowing
Subsidiary Agreement, will not make Loans to such Borrowing Subsidiary) and the
successors and assigns of such Lender in such capacity.  Any Lender may designate an affiliate of such
Lender to perform all obligations, and have all rights, of such Lender
hereunder in respect of some or all of any BSub Commitment, in which case
references herein to a “BSub Lender” shall, where appropriate, mean such
designated affiliate.  Any such
designation shall be made either (a) by causing such affiliate to execute
a signature page of the applicable Borrowing Subsidiary Agreement or (b) by
written notice to the Company and the Administrative Agent (including any
notice changing the designation of such Lender’s affiliate that will act as a
BSub Lender).

 

“BSub
Percentage” means, for any Lender with respect to any Borrowing Subsidiary on
any date of determination, the percentage which the amount of such Lender’s
BSub Commitment with respect to such Borrowing Subsidiary is of the aggregate
amount of all BSub Commitments with respect to such Borrowing Subsidiary (or,
if the Commitments have terminated, which (a) the aggregate outstanding
principal amount of such Lender’s Loans to such Borrowing Subsidiary is of (b) the
aggregate outstanding principal amount of all Loans to such Borrowing
Subsidiary).

 

“Business Day”
means a day (other than a Saturday or Sunday) on which banks generally are open
in Chicago and New York City for the conduct of substantially all of their
commercial lending activities and interbank wire transfers can be made on the
Fedwire system and (i) if such day relates to any interest rate
setting as to a Eurocurrency Loan denominated in Euro, any funding,
disbursement, settlement or payment in Euro, or any other dealings in Euro to
be carried out pursuant to this Agreement, a day on which banks in London are
open for general banking business, including dealings in foreign currency and
exchange, and on which the Trans-European Automated Real-time Gross Settlement
Express Transfer (TARGET) payment system (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; and (ii) if such day relates to an interest rate
setting as to a Eurocurrency Loan denominated in Dollars or any other Agreed
Currency (other than Euro), any funding, disbursement, settlement or payment in
any such currency, or any other dealings in any such 

 

3

 

currency to be carried out pursuant to this Agreement, a day on which
dealings in such currency are carried on in the London interbank market.

 

“Capitalized
Lease” of a Person means any lease of Property by such Person as lessee which
would be capitalized on a balance sheet of such Person prepared in accordance
with GAAP.

 

“Capitalized
Lease Obligations” of a Person means the amount of the obligations of such
Person under Capitalized Leases which would be shown as a liability on a
balance sheet of such Person prepared in accordance with GAAP.

 

“Change in
Control” means the occurrence of any of the following events:  (x) any “person” or “group” (within the
meaning of Section 13 or 14 of the Securities Exchange Act of 1934 (the “Exchange
Act”) becomes the beneficial owner (as defined in Rule 13d 3 under the
Exchange Act) of 30% or more of the fully diluted Voting Securities of the
Company or (y) individuals who at the beginning of any period of two
consecutive calendar years constituted the board of directors of the Company
(together with any new directors whose election by the board of directors of
the Company or whose nomination for election by the Company’s shareholders was
approved by the members of the board of directors of the Company then still in
office who either were members of the board of directors of the Company at the
beginning of such period or whose election or nomination for election was
previously so approved) cease for any reason to constitute a majority of the
members of the board of directors of the Company.

 

“Code” means
the Internal Revenue Code of 1986.

 

“Commitment”
means, for each Lender, the obligation of such Lender to make Loans and to
participate in Letters of Credit in an aggregate amount not exceeding the
amount set forth opposite its signature below, as it may be modified as a
result of any assignment that has become effective pursuant to Section 12.1
or as otherwise modified from time to time pursuant to the terms hereof.

 

“Company” is
defined in the preamble.

 

“Computation
Date” is defined in Section 2.2.

 

“Consolidated
Debt” means, at any time, the consolidated Debt of the Company and its
Consolidated Subsidiaries at such time.

 

“Consolidated
Net Worth” means, at any time, the consolidated stockholders’ equity of the
Company and its Consolidated Subsidiaries at such time.

 

“Consolidated
Subsidiary” means any Subsidiary or other entity the accounts of which would be
consolidated with those of the Company in its consolidated financial
statements.

 

“Controlled
Group” means all members of a controlled group of corporations or other
business entities and all trades or businesses (whether or not incorporated)
under common control which, together with the Company or any of its
Subsidiaries, are treated as a single employer under Section 414 of the
Code.

 

4

 

“Conversion/Continuation
Notice” is defined in Section 2.9.

 

“Credit
Extension” means the making of an Advance or the issuance of a Letter of
Credit.

 

“Debt” of any
Person means, without duplication, (i) all obligations of such Person for
borrowed money, (ii) all obligations of such Person evidenced by bonds,
debentures, notes or other similar instruments, (iii) all obligations of
such Person to pay the deferred purchase price of property or services, except
trade accounts payable arising in the ordinary course of business, (iv) all
Capitalized Lease Obligations of such Person, (v) all obligations of such
Person to reimburse or indemnify the issuer of a letter of credit or Guarantee
for drawings or payments thereunder, (vi) all Debt of others secured by a
Lien on any asset of such Person, whether or not such Debt is assumed by such
Person, and (vii) all Debt of others Guaranteed by such Person.

 

“Default”
means an event described in Article VII.

 

“Dollar Amount”
of any currency at any date shall mean (i) the amount of such currency if
such currency is Dollars or (ii) the equivalent in Dollars of such amount
if such currency is any currency other than Dollars, calculated on the basis of
the arithmetical mean of the buy and sell spot rates of exchange of the
Administrative Agent for such currency at 11:00 a.m., Local Time, on or as
of the most recent Computation Date provided for in Section 2.2.

 

“Dollars” and “$”
shall mean the lawful currency of the United States of America.

 

“Domestic
Advance” means a borrowing in Dollars by the Company hereunder (i) made by
the Lenders on the same Borrowing Date or (ii) converted or continued by
the Lenders on the same date of conversion or continuation, consisting, in
either case, of the aggregate amount of the several Loans of the same Type and,
in the case of Eurocurrency Loans, having the same Interest Period.

 

“Domestic Loan”
means a Loan denominated in Dollars.

 

“Effective
Date” is defined in Section 4.1.

 

“Eligible
Currency” means any currency other than Dollars (i) that is readily
available, (ii) that is freely traded, (iii) in which deposits are
customarily offered to banks in the London interbank market, (iv) which is
convertible into Dollars in the international interbank market and (v) as
to which a Dollar Amount may be readily calculated.  If, after the designation of any currency as
an Agreed Currency, (x) currency control or other exchange regulations are
imposed in the country in which such currency is issued with the result that
different types of such currency are introduced, (y) such currency is, in
the determination of the Administrative Agent, no longer readily available or
freely traded or (z) in the determination of the Administrative Agent, an
Equivalent Amount of such currency is not readily calculable, the
Administrative Agent shall promptly notify the Lenders and the Company, and
such currency shall no longer be an Agreed Currency until such time as all of
the Lenders agree to reinstate such currency as an Agreed Currency and
promptly, but in any event within five Business Days of receipt of such notice
from the Administrative Agent, each applicable Borrowing Subsidiary shall repay
all of its Loans in such affected currency or convert such Loans into Loans in
Dollars or another Agreed Currency, subject to the other terms set forth in Article II.

 

5

 

“Equivalent
Amount” of any currency with respect to any amount of Dollars at any date shall
mean the equivalent in such currency of such amount of Dollars, calculated on
the basis of the arithmetical mean of the buy and sell spot rates of exchange
of the Administrative Agent for such other currency at 11:00 a.m., Local
Time, on the date on or as of which such amount is to be determined.

 

“Environmental
Laws” means any and all federal, state, local and foreign statutes, laws,
judicial decisions, regulations, ordinances, rules, judgments, orders, decrees,
plans, injunctions, permits, concessions, grants, franchises, licenses,
agreements and other governmental restrictions relating to (i) the
protection of the environment, (ii) the effect of the environment on human
health, (iii) emissions, discharges or releases of pollutants,
contaminants, hazardous substances or wastes into surface water, ground water
or land, or (iv) the manufacture, processing, distribution, use,
treatment, storage, disposal, transport or handling of pollutants,
contaminants, hazardous substances or wastes or the clean-up or other
remediation thereof.

 

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

 

“Euro” means
the lawful currency of the member states of the European Union.

 

“Eurocurrency
Advance” means an Advance which, except as otherwise provided in Section 2.11,
bears interest at the applicable Eurocurrency Rate.

 

“Eurocurrency
Loan” means a Loan which, except as otherwise provided in Section 2.11,
bears interest at the applicable Eurocurrency Rate.

 

“Eurocurrency
Payment Office” of the Administrative Agent shall mean, for each of the Agreed
Currencies, the office, branch, affiliate or correspondent bank of the
Administrative Agent specified as the “Eurocurrency Payment Office” for such
currency in Schedule 1 or such other office, branch, affiliate or
correspondent bank of the Administrative Agent as it may from time to time
specify to the Company and each Lender as its Eurocurrency Payment Office for
such currency.

 

“Eurocurrency
Rate” means, with respect to a Eurocurrency Advance for the relevant Interest
Period, the sum of (i) the quotient of (a) the Eurocurrency Reference
Rate applicable to such Interest Period, divided by (b) one minus the
Reserve Requirement (expressed as a decimal) applicable to such Interest
Period, if any, plus (ii) the Applicable Margin, plus (iii) for Loans
booked in the United Kingdom, the Associated Costs Rate.

 

“Eurocurrency
Reference Rate” means

 

(a)  with
respect to a Eurocurrency Advance denominated in Euro for the relevant Interest
Period, the offered rate per annum at which deposits in Euro for a period
comparable to such Interest Period appear on Reuters Screen EURIBOR01 (or any
successor page) as of 11:00 A.M. (Brussels time) two Business Days prior
to the first day of such Interest Period as determined by the Banking
Federation of the European Union; provided that if no such rate is
available, the Eurocurrency Reference Rate for such Interest Period shall
instead be the rate at which deposits in Euro in the approximately equivalent
amount of $5,000,000 and for a maturity comparable to such Interest Period are
offered by the principal London office of JPMCB in immediately 

 

6

 

available funds in the European interbank market at approximately 11:00 a.m.
(Brussels time) two Business Days prior to the commencement of such Interest
Period;

 

(b)  with
respect to a Eurocurrency Advance denominated in any other Agreed Currency for
the relevant Interest Period, the applicable British Bankers’ Association LIBOR
rate for deposits in such currency for a period comparable to such Interest
Period as reported by any generally recognized financial information service as
of 11:00 a.m. (Local Time) two Business Days prior to (or, in the case of
a Eurocurrency Advance denominated in British Pounds Sterling, on) the first
day of such Interest Period; provided that if no such rate is available,
the applicable Eurocurrency Reference Rate for such Interest Period shall
instead be the rate determined by the Administrative Agent to be the rate at
which JPMCB offers to place deposits in such currency for a period comparable
to such Interest Period with first-class banks in the London interbank market
at approximately 11:00 a.m. (Local Time) two Business Days prior to (or,
in the case of a Eurocurrency Advance denominated in British Pounds Sterling,
on) the first day of such Interest Period, in the approximate amount of JPMCB’s
relevant Eurocurrency Loan.

 

“Excluded
Taxes” means, in the case of each Lender or applicable Lending Installation and
the Administrative Agent, taxes imposed on its overall net income, and
franchise taxes imposed on it, by (i) the jurisdiction under the laws of
which such Lender or the Administrative Agent is incorporated or organized or (ii) the
jurisdiction in which the Administrative Agent’s or such Lender’s principal
executive office or such Lender’s applicable Lending Installation is located.

 

“Existing
Agreement” is defined in the preamble.

 

“Facility Fee
Rate” means, at any time, the percentage rate per annum at which facility fees
are accruing pursuant to Section 2.5.1 at such time as set forth in
the Pricing Schedule.

 

“Facility
Termination Date” means the earlier of (a) April 29, 2009 and (b) the
date on which the Commitments are reduced to zero pursuant to Section 2.5.3
or terminated pursuant to Section 8.1.

 

“Federal Funds
Effective Rate” means, for any day, an interest rate per annum equal to the
weighted average of the rates on overnight Federal funds transactions with
members of the Federal Reserve System arranged by Federal funds brokers on such
day, as published for such day (or, if such day is not a Business Day, for the
immediately preceding Business Day) by the Federal Reserve Bank of New York,
or, if such rate is not so published for any day which is a Business Day, the
average of the quotations at approximately 10:00 a.m. (Local Time) on such
day on such transactions received by the Administrative Agent from three
Federal funds brokers of recognized standing selected by the Administrative
Agent in its sole discretion.

 

“Floating Rate”
means, for any day, a rate per annum equal to the Alternate Base Rate for such
day, changing when and as the Alternate Base Rate changes.

 

“Floating Rate
Advance” means an Advance in Dollars that, except as otherwise provided in Section 2.11,
bears interest at the Floating Rate.

 

7

 

“Floating Rate
Loan” means a Loan in Dollars that, except as otherwise provided in Section 2.11,
bears interest at the Floating Rate.

 

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

 

“GAAP” means
generally accepted accounting principles as in effect from time to time in the
United States.

 

“Guarantee” by
any Person means any obligation, contingent or otherwise, of such Person
directly or indirectly guaranteeing any Debt or other obligation of any other
Person or in any manner providing for the payment of any Debt of any other
Person or otherwise protecting the holder of such Debt against loss (whether by
agreement to keep-well, to purchase assets, goods, securities or services, to
take-or-pay, or to maintain financial statement conditions or otherwise); provided
that the term Guarantee shall not include endorsements for collection or
deposit in the ordinary course of business. 
The term “Guarantee” used as a verb has a corresponding meaning.

 

“Hazardous
Substance” means any toxic, radioactive, caustic or otherwise hazardous
substance, including petroleum, its derivatives, by-products and other
hydrocarbons, or any substance having any constituent elements displaying any
of the foregoing characteristics.

 

“Interest
Period” means, with respect to a Eurocurrency Advance, a period commencing on a
Business Day selected by the applicable Borrower and ending on the numerically
corresponding date one, two, three or six months thereafter; provided
that (a) if there is no such numerically corresponding day in such next,
second, third or sixth succeeding month, such Interest Period shall end on the
last Business Day of such next, second, third or sixth succeeding month; (b) if
an Interest Period would otherwise end on a day that is not a Business Day,
such Interest Period shall end on the next succeeding Business Day, unless such
next succeeding Business Day falls in a new calendar month, in which case such
Interest Period shall end on the immediately preceding Business Day; and (c) no
Borrower may select an Interest Period ending after the scheduled Facility
Termination Date.

 

“Issuer” means
JPMCB and/or any other Lender that (i) is selected by the Company, (ii) agrees
to be an Issuer hereunder and (iii) is reasonably satisfactory to the
Administrative Agent, in each case in its capacity as an issuer of Letters of
Credit hereunder.

 

“JPMorgan”
means J.P. Morgan Securities Inc.

 

“JPMCB” is
defined in the preamble.

 

“JPMEL” means
J. P. Morgan Europe Ltd.

 

“LC Collateral
Account” is defined in Section 2.18(k).

 

“Lenders”
means the lending institutions listed on the signature pages of this
Agreement and their respective successors and assigns.

 

8

 

“Lending
Installation” means, with respect to a Lender or the Administrative Agent, the
office, branch, subsidiary or affiliate of such Lender or the Administrative
Agent with respect to each Agreed Currency listed on the signature pages hereof
or in an Administrative Questionnaire or otherwise selected by such Lender or
the Administrative Agent pursuant to Section 2.19.

 

“Letter of
Credit” is defined in Section 2.18(a).

 

“Letter of
Credit Application” is defined in Section 2.18(c).

 

“Letter of
Credit Fee” is defined in Section 2.18(d).

 

“Letter of
Credit Fee Rate” means, at any time, the percentage rate per annum applicable
to Letter of Credit Fees at such time as set forth in the Pricing Schedule.

 

“Letter of
Credit Obligations” means, at any time, the Dollar Amount of the sum, without
duplication, of (i) the aggregate undrawn stated amount of all Letters of
Credit at such time plus (ii) the aggregate unpaid amount of all
Reimbursement Obligations at such time.

 

“Lien” means
any lien (statutory or other), mortgage, pledge, hypothecation, assignment,
deposit arrangement, encumbrance or preference, priority or other security
agreement or preferential arrangement of any kind or nature whatsoever
(including the interest of a vendor or lessor under any conditional sale,
Capitalized Lease or other title retention agreement).

 

“Loan” means,
with respect to a Lender, any loan made by such Lender pursuant to Article II
(or any conversion or continuation thereof).

 

“Loan
Documents” means this Agreement, each Letter of Credit and each Letter of
Credit Application.

 

“Local Time”
means (a) with respect to Multicurrency Loans, London time, and (b) for
all other purposes, Chicago time.

 

“Long-Term Credit Agreement” means the Amended and Restated Long-Term
Credit Agreement dated as of April 29, 2008 among the Borrowers, various
lenders, Wachovia Bank, N.A., as Syndication Agent, U.S. Bank National
Association and Wells Fargo Bank, N.A., as Co-Documentation Agents, and JPMCB,
as Administrative Agent.

 

“Material
Adverse Effect” means a material adverse effect on (i) the financial
position or business of the Company and its Subsidiaries taken as a whole or (ii) the
validity or enforceability of any of the Loan Documents or the rights or
remedies of the Administrative Agent, the Lenders or the Issuers thereunder.

 

“Material
Subsidiary” means at any time a Subsidiary which as of such time meets the
definition of a “significant subsidiary” contained as of the date hereof in
Regulation S-X of the Securities and Exchange Commission.

 

“Modification”
and “Modify” are defined in Section 2.18(a).

 

9

 

“Moody’s”
means Moody’s Investors Service, Inc.

 

“Multicurrency
Advance” means a borrowing by a Borrower hereunder (i) made by the
applicable Lenders to the same Borrower on the same Borrowing Date or (ii) converted
or continued by the applicable Lenders on the same date of conversion or
continuation, consisting, in either case, of the aggregate amount of the
several Eurocurrency Loans in the same Agreed Currency and for the same
Interest Period.

 

“Multicurrency
Loan” means a Eurocurrency Loan denominated in an Agreed Currency other than
Dollars.

 

“Multiemployer
Plan” means a Plan maintained pursuant to a collective bargaining agreement or
any other arrangement to which the Company or any member of the Controlled
Group is a party to which more than one employer is obligated to make contributions.

 

“Non-U.S.
Lender” is defined in Section 3.4(d).

 

“Obligations”
means all unpaid principal of and accrued and unpaid interest on the Loans, all
Reimbursement Obligations and accrued and unpaid interest thereon, all accrued
and unpaid fees and all expenses, reimbursements, indemnities and other
obligations of any Borrower to the Lenders or to any Lender, any Issuer, the
Administrative Agent or any indemnified party arising under the Loan Documents.

 

“Other Taxes”
is defined in Section 3.4(c).

 

“Outstanding
Credit Exposure” means, as to any Lender at any time, the Dollar Amount of the
sum of (i) its Pro Rata Share of all Loans outstanding at such time plus (ii) its
Pro Rata Share of the Letter of Credit Obligations at such time.

 

“Participant”
is defined in Section 12.1(c).

 

“Participation
Funding Notice” means a written notice from a Lender to the Administrative
Agent advising the Administrative Agent that a Default exists and directing the
Administrative Agent to notify all Lenders to fund their participations in
extensions of credit made by BSub Lenders as provided in Section 2.24.

 

“Payment Date”
means the last Business Day of each calendar quarter.

 

“PBGC” means
the Pension Benefit Guaranty Corporation, or any successor thereto.

 

“Person” means
any natural person, corporation, firm, joint venture, partnership, limited
liability company, association, enterprise, trust or other entity or
organization, or any government or political subdivision or any agency,
department or instrumentality thereof.

 

“Plan” means
an employee pension benefit plan which is covered by Title IV of ERISA or
subject to the minimum funding standards under Section 412 of the Code as
to which the Company or any member of the Controlled Group may have any
liability.

 

10

 

“Pricing
Schedule” means the Schedule attached hereto identified as such.

 

“Prime Rate”
means the rate of interest per annum publicly announced from time to time by
JPMCB as its prime rate in effect at its office located at 270 Park Avenue, New
York, New York; each change in the Prime Rate shall be effective from and
including the date such change is publicly announced as being effective.

 

“Property” of
a Person means any and all property, whether real, personal, tangible,
intangible, or mixed, of such Person, or other assets owned, leased or operated
by such Person.

 

 “Pro Rata Share” means, with respect to any
Lender on any date of determination, the percentage which the sum of the amount
of such Lender’s Commitment is of the Aggregate Commitment (or, if the
Commitments have terminated, which (a) the sum of (i) the principal
amount of such Lender’s Loans to the Company plus (ii) the principal
amount of such Lender’s participation interest in all Loans to any other
Borrower plus (iii) the amount of such Lender’s participation in the
Letter of Credit Obligations is of (b) the Aggregate Outstanding Credit
Exposure) as of such date.  For purposes
of determining liability for any indemnity obligation under Section 2.18(j) or
10.8, each Lender’s Pro Rata Share shall be determined as of the date
the applicable Issuer or the Administrative Agent notifies the Lenders of such
indemnity obligation (or, if such notice is given after termination of this
Agreement, as of the date of such termination).

 

“Regulation D”
means Regulation D of the Board of Governors of the Federal Reserve System.

 

“Regulation U”
means Regulation U of the Board of Governors of the Federal Reserve System.

 

“Reimbursement
Obligations” means, at any time, the aggregate of all obligations of the
Borrowers then outstanding under Section 2.18 to reimburse the
Issuers for amounts paid by the Issuers in respect of any one or more drawings
under Letters of Credit.

 

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

 

“Reportable
Event” means a reportable event as defined in Section 4043 of ERISA and
the regulations issued under such section, with respect to a Plan, excluding,
however, such events as to which the PBGC has by regulation waived the
requirement of Section 4043(a) of ERISA that it be notified within 30
days of the occurrence of such event; provided that a failure to meet
the minimum funding standard of Section 412 of the Code and of Section 302
of ERISA shall be a Reportable Event regardless of the issuance of any such
waiver of the notice requirement in accordance with either Section 4043(a) of
ERISA or Section 412(d) of the Code.

 

“Reports” is
defined in Section 9.6.

 

“Required
Lenders” means Lenders having aggregate Pro Rata Shares in excess of 50%.

 

11

 

“Reserve
Requirement” means, with respect to an Interest Period, the maximum aggregate
reserve requirement (including all basic, supplemental, marginal and other
reserves) which is imposed under Regulation D on Eurocurrency liabilities.

 

“S&P”
means Standard and Poor’s Ratings Services, a division of The McGraw Hill
Companies, Inc.

 

“Subsidiary”
of a Person means (i) any corporation more than 50% of the outstanding
securities having ordinary voting power of which shall at the time be owned or
controlled, directly or indirectly, by such Person or by one or more of its
Subsidiaries or by such Person and one or more of its Subsidiaries, or (ii) any
partnership, limited liability company, association, joint venture or similar
business organization more than 50% of the ownership interests having ordinary
voting power of which shall at the time be so owned or controlled.  Unless otherwise expressly provided, all
references herein to a “Subsidiary” shall mean a Subsidiary of the Company.

 

“Substantial
Portion” means, with respect to the Property of the Company and its
Subsidiaries, Property which represents more than 15% of the consolidated total
assets of the Company and its Consolidated Subsidiaries or property which is
responsible for more than 10% of the consolidated net sales or of the
consolidated net income of the Company and its Consolidated Subsidiaries, in
each case, as would be shown in the consolidated financial statements of the
Company and its Subsidiaries as at the beginning of the twelve-month period ending
with the month in which such determination is made (or if financial statements
have not been delivered hereunder for that month which begins the twelve-month
period, then the financial statements delivered hereunder for the quarter
ending immediately prior to that month).

 

“Taxes” means
any and all present or future taxes, duties, levies, imposts, deductions,
charges or withholdings, and any and all liabilities with respect to the
foregoing, but excluding Excluded Taxes and
Other Taxes.

 

“Total Capital”
means, at any time, the sum of (i) Consolidated Debt plus (ii) deferred
taxes plus (iii) Consolidated Net Worth at such time.

 

“Transferee”
is defined in Section 12.2.

 

“Type” means,
with respect to any Domestic Advance, its nature as a Floating Rate Advance or
a Eurocurrency Advance and with respect to any Domestic Loan, its nature as a
Floating Rate Loan or a Eurocurrency Loan.

 

“Unfunded
Vested Liabilities” means, with respect to any Plan, the amount, if any, by
which the present value of all vested benefits under such Plan exceeds the fair
market value of all Plan assets allowable to such benefits, as determined on
the most recent valuation date of such Plan, but only to the extent that excess
represents a potential liability of the Borrower or any member of the
Controlled Group to the PBGC or to such Plan under Title IV of ERISA.

 

“Unmatured
Default” means an event which but for the lapse of time or the giving of
notice, or both, would constitute a Default.

 

12

 

“Utilization
Fee Rate” means, at any time, the percentage rate per annum at which
utilization fees are accruing pursuant to Section 2.5.2 at such
time as set forth in the Pricing Schedule.

 

“Voting
Securities” means any securities having ordinary power to vote for the election
of directors.

 

The foregoing
definitions shall be equally applicable to both the singular and plural forms
of the defined terms.

 

1.2.          Interpretation.

 

(a)           The
meanings of defined terms are equally applicable to the singular and plural
forms of such terms.

 

(b)           Article,
Section, Schedule and Exhibit references are to this
Agreement unless otherwise specified.

 

(c)           The
term “including” is not limiting and means “including without limitation.”

 

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

 

(e)           Unless
otherwise expressly provided herein, (i) references to agreements
(including this Agreement) and other contractual instruments shall be deemed to
include all subsequent amendments and other modifications thereto, but only to
the extent such amendments and other modifications are not prohibited by the
terms of this Agreement; and (ii) references to any statute or regulation
are to be construed as including all statutory and regulatory provisions
consolidating, amending, replacing, supplementing or interpreting such statute
or regulation.

 

ARTICLE II

THE CREDITS

 

2.1.          Commitment.  From the date of this Agreement to the
Facility Termination Date, (a) each Lender severally agrees, on the terms
and conditions set forth in this Agreement, to make Loans to the Company from
time to time, (b) each BSub Lender with respect to a Borrowing Subsidiary
severally agrees, on the terms and conditions set forth in this Agreement, to
make Multicurrency Loans to such Borrowing Subsidiary (and each other Lender
severally agrees that it will purchase a participation in each such Loan if
required pursuant to Section 2.24) and (c) each Issuer agrees
to issue Letters of Credit denominated in Agreed Currencies for the account of
any Borrower from time to time (and each Lender severally agrees to participate
in each such Letter of Credit as more fully set forth in Section 2.18);
provided that (i) at no time shall Loans be outstanding hereunder
in more than five different Agreed Currencies, (ii) the Aggregate
Outstanding Credit Exposure shall not at any time exceed the Aggregate
Commitment, (iii) the Outstanding Credit Exposure of any Lender shall not
at any time exceed such Lender’s Commitment and (iv) the aggregate Dollar
Amount of all outstanding Multicurrency Loans under this Agreement and the
aggregate principal amount of all 

 

13

 

“Multicurrency Loans” under and as defined in
the Long-Term Credit Agreement shall not at any time exceed $100,000,000.  Subject to the terms of this Agreement, the
Borrowers may borrow, repay and reborrow at any time prior to the Facility
Termination Date.  The Commitments shall
expire on the Facility Termination Date.

 

2.2.          Determination
of Dollar Amounts.  The
Administrative Agent will determine the Dollar Amount of all outstanding
Advances and Letter of Credit Obligations on and as of (i) the date of
each Credit Extension, (ii) the last Business Day of each quarter and (iii) any
other Business Day elected by the Administrative Agent in its discretion or
upon instruction by the Required Lenders (each, a “Computation Date”).

 

2.3.          Ratable
Loans.  Each Advance shall consist of
Loans made (a) in the case of Loans to the Company, by the Lenders ratably
in accordance with their respective Pro Rata Shares or (b) in the case of
Loans to any Borrowing Subsidiary, by the BSub Lenders for such Borrowing
Subsidiary in accordance with their respective BSub Percentages for such
Borrowing Subsidiary.

 

2.4.          Types
of Advances.  Domestic Advances may
be Floating Rate Advances or Eurocurrency Advances, or a combination thereof,
as selected by the applicable Borrower in accordance with Sections 2.8
and 2.9.  Multicurrency Advances
shall be Eurocurrency Advances.

 

2.5.          Fees;
Changes in Aggregate Commitment.

 

2.5.1.  Facility Fee.  The Company agrees to pay to the Administrative
Agent for the account of each Lender a facility fee at a per annum rate equal
to the Facility Fee Rate on the sum of such Lender’s Commitment (whether used
or unused) from the date hereof to the Facility Termination Date (and, if any
Loans remain outstanding after the close of business in Chicago, Illinois on
the Facility Termination Date, thereafter on the outstanding principal amount
of all Loans owed to each Lender).  The
facility fee shall be payable on each Payment Date, on the Facility Termination
Date and, if applicable, thereafter on demand.

 

2.5.2.  Utilization Fee.  The Company agrees to pay to the
Administrative Agent for the account of each Lender a utilization fee at a rate
per annum equal to the Utilization Fee Rate on such Lender’s Outstanding Credit
Exposure for any date (a) prior to the Facility Termination Date on which
the Aggregate Outstanding Credit Exposure exceeds 50% of the Aggregate
Commitment and (b) on or after the Facility Termination Date.  The utilization fee shall be payable on each
Payment Date, on the Facility Termination Date and, if applicable, thereafter
on demand.

 

2.5.3.  Reduction of Aggregate
Commitment.  The Company may
permanently reduce the Aggregate Commitment in whole, or in part ratably among
the Lenders in integral multiples of $10,000,000, upon at least five Business
Days’ written notice to the Administrative Agent, which notice shall specify
the amount of any such reduction; provided  that the amount of the Aggregate Commitment may not be
reduced below the Aggregate Outstanding Credit Exposure.

 

14

 

2.5.4.  Increase of Aggregate
Commitment.  So long as no Default or
Unmatured Default exists or would result therefrom, the Company may, from time
to time, by means of a letter delivered to the Administrative Agent
substantially in the form of Exhibit E, request that the Aggregate
Commitment be increased by (a) increasing the Commitment of one or more
Lenders that have agreed to such increase and/or (b) adding one or more
commercial banks or other Persons (each an “Additional Lender”) as a
party hereto with a Commitment in an amount agreed to by any such Additional
Lender; provided that (i) the aggregate amount of all such
increases during the term of this Agreement shall not exceed $50,000,000, (ii) any
such increase shall be in an amount equal to $25,000,000 or a higher integral
multiple of $5,000,000 and (iii) no Additional Lender shall be added as a
party hereto without the written consent of the Administrative Agent and each
Issuer (which shall not be unreasonably withheld).  Any increase in the Aggregate Commitment
pursuant to this Section 2.5.4 shall be effective three Business
Days after the date on which the Administrative Agent has received and accepted
the applicable increase letter in the form of Annex 1 to Exhibit E
(in the case of an increase in the Commitment of an existing Lender) or
assumption letter in the form of Annex 2 to Exhibit E (in the case
of the addition of an Additional Lender). 
The Administrative Agent shall promptly notify the Company and the
Lenders of any increase in the amount of the Aggregate Commitment pursuant to
this Section 2.5.4 and of the Commitment of each Lender after
giving effect thereto.  The parties
hereto agree that, in connection with any increase in the amount of the
Aggregate Commitment, the Borrowers and the Administrative Agent may agree on
procedures pursuant to this Section 2.5.4, such as phasing in
funding of the amount of the increased or new Commitment of an increasing
Lender or Additional Lender to minimize breakage costs so long as procedures
are also in place to cause each increasing Lender and Additional Lender to
purchase assignments or participations in amounts necessary to have their Pro
Rata Shares of the Aggregate Outstanding Credit Exposure upon acceleration of
the Loans.

 

2.6.          Minimum
Amount of Each Advance.  Each
Eurocurrency Advance shall be in the Dollar Amount of $5,000,000 or a higher
integral multiple of 1,000,000 units of the applicable Agreed Currency.  Each Floating Rate Advance shall be in the
amount of $5,000,000 or a higher integral multiple of $1,000,000; provided
that any Floating Rate Advance may be in the amount of the unused Aggregate
Commitment.

 

2.7.          Payments
and Prepayments.

 

2.7.1.  Payment at Maturity.  Each Borrower shall pay all its outstanding
Advances and all its other unpaid Obligations on the Facility Termination Date.

 

2.7.2.  Optional Payments.  Any Borrower may from time to time prepay,
without penalty or premium, all outstanding Floating Rate Advances to such
Borrower or, in an aggregate amount of $5,000,000 or higher integral multiples
of $1,000,000, any portion of the outstanding Floating Rate Advances to such
Borrower upon two Business Days’ prior notice to the Administrative Agent.  Any Borrower may from time to time prepay,
subject to the payment of any funding indemnification amounts required by Section 3.3
but without penalty or premium, all outstanding Eurocurrency Advances to such
Borrower or, in the aggregate amount of $5,000,000 or a higher integral
multiple of 

 

15

 

1,000,000
units of the Agreed Currency, any portion of the outstanding Eurocurrency
Advances to such Borrower upon three Business Days’ prior notice to the
Administrative Agent.

 

2.7.3.  Mandatory Prepayments
due to Currency Fluctuations.  If on
any Computation Date (a) the Aggregate Outstanding Credit Exposure exceeds
the Aggregate Commitment, (b) the Dollar Amount of all outstanding
Multicurrency Loans exceeds the amount specified in clause (iv) of
the proviso to the first sentence of Section 2.1 or (c) the
Letter of Credit Obligations exceed the amount specified in subsection
2.18(a)(ii), then the Borrowers shall immediately repay Advances (or, in
the case of clause (c) and, if no Advances are outstanding, clause
(a), deposit funds in an LC Collateral Account) in an amount sufficient to
eliminate such excess.

 

2.8.          Method
of Selecting Types and Interest Periods for New Advances.  The applicable Borrower shall select the Type
of Advance and, in the case of a Eurocurrency Advance, the Interest Period and
Agreed Currency applicable thereto from time to time.  The applicable Borrower shall give the
Administrative Agent irrevocable notice (a “Borrowing Notice”) not later
than 10:00 a.m. Local Time at least one Business Day before the Borrowing
Date of each Floating Rate Advance, three Business Days before the Borrowing
Date for each Eurocurrency Advance denominated in Dollars and four Business
Days before the Borrowing Date for each Eurocurrency Advance denominated in an
Agreed Currency other than Dollars, specifying:

 

(i)            the Borrowing Date,
which shall be a Business Day, of such Advance;

 

(ii)           the aggregate
amount of such Advance;

 

(iii)          the Type of Advance
selected; and

 

(iv)          in the case of a
Eurocurrency Advance, the Interest Period and Agreed Currency applicable
thereto.

 

2.9.          Conversion
and Continuation of Outstanding Advances. 
Each Floating Rate Advance shall continue as a Floating Rate Advance
unless and until converted into a Eurocurrency Advance pursuant to this Section 2.9
or repaid in accordance with Section 2.7.  Each Eurocurrency Advance shall continue as a
Eurocurrency Advance until the end of the then applicable Interest Period
therefor, at which time:

 

(i)            in the case of a
Eurocurrency Advance denominated in Dollars, such Advance shall be
automatically converted into a Floating Rate Advance unless (x) repaid in
accordance with Section 2.7 or (y) the applicable Borrower
shall have given the Administrative Agent a Conversion/Continuation Notice (as
defined below) requesting that, at the end of such Interest Period, such
Eurocurrency Advance either continue as a Eurocurrency Advance for a new
Interest Period or be converted into a Floating Rate Advance; and

 

(ii)           in the case of a
Eurocurrency Advance denominated in an Agreed Currency other than Dollars, if
the Administrative Agent has not received a 

 

16

 

Conversion/Continuation
Notice (as defined below) prior to 11:00 a.m. Local Time, three Business
Days prior to the last day of any Interest Period, such Advance shall
automatically continue as a Eurocurrency Advance in the same Agreed Currency
with an Interest Period of one month unless (x) repaid in accordance with Section 2.7
or (y) the applicable Borrower shall have given the Administrative Agent a
timely Conversion/Continuation Notice (as defined below) requesting that, at
the end of such Interest Period, such Eurocurrency Advance continue as a Eurocurrency
Advance for a new Interest Period.

 

Subject to the
terms of Section 2.6, any Borrower may elect from time to time to
convert all or any part of an Advance to such Borrower denominated in Dollars
to the other Type of Advance denominated in Dollars or to continue any
Eurocurrency Advance to such Borrower for a new Interest Period in the same
Agreed Currency; provided that any conversion or continuation of any
Eurocurrency Advance shall be made on, and only on, the last day of an Interest
Period applicable thereto.  The
applicable Borrower shall give the Administrative Agent irrevocable notice (a “Conversion/Continuation
Notice”) of each conversion of an Advance or continuation of a Eurocurrency
Advance not later than 10:00 a.m. (Local Time) at least one Business Day,
in the case of a conversion into a Floating Rate Advance, three Business Days,
in the case of a conversion into or continuation of a Eurocurrency Advance
denominated in Dollars, or four Business Days, in the case of a conversion into
or continuation of a Eurocurrency Advance denominated in an Agreed Currency
other than Dollars, prior to the date of the requested conversion or
continuation, specifying:

 

(i)            the requested date,
which shall be a Business Day, of such conversion or continuation; and

 

(ii)           the Agreed
Currency, amount and Type of Advance into which such Advance is to be converted
or continued and, in the case of a conversion into or continuation of a
Eurocurrency Advance, the duration of the Interest Period applicable thereto.

 

2.10.        Method
of Borrowing.

 

(a)           On
each Borrowing Date for a Domestic Advance to the Company, each Lender shall
make available its Domestic Loan in accordance with its Pro Rata Share not
later than noon, Local Time, in Federal or other funds immediately available to
the Administrative Agent, in Chicago, Illinois at its address specified in or
pursuant to Article XIII.

 

(b)           On
each Borrowing Date for a Multicurrency Advance to the Company, each Lender
shall make available its Multicurrency Loan in accordance with its Pro Rata
Share not later than noon, Local Time, at the Eurocurrency Payment Office of
the Administrative Agent for such currency, in such funds as may then be
customary for the settlement of international transactions in such currency in
the city of such Eurocurrency Payment Office for such currency.

 

(c)           On
each Borrowing Date for a Multicurrency Advance to a Borrowing Subsidiary, each
applicable Lender shall make available its Multicurrency Loan in accordance
with its BSub Percentage for such Borrowing Subsidiary not later than noon,
Local Time, at the Eurocurrency 

 

17

 

Payment Office of the Administrative Agent for such currency, in such
funds as may then be customary for the settlement of international transactions
in such currency in the city of such Eurocurrency Payment Office for such
currency.

 

(d)           Unless
the Administrative Agent has received written notice that any applicable
condition specified in Article IV has not been satisfied with
respect to a requested Advance, the Administrative Agent will make the funds
received from the Lenders available to the applicable Borrower at the
Administrative Agent’s aforesaid address.

 

2.11.        Changes
in Interest Rate, etc.  Each Floating
Rate Advance shall bear interest on the outstanding principal amount thereof,
for each day from the date such Advance is made or is converted from a
Eurocurrency Advance into a Floating Rate Advance to the date such Advance
becomes due or is converted into a Eurocurrency Advance, at the Floating Rate
for such day.  Changes in the rate of
interest on that portion of any Advance maintained as a Floating Rate Advance
will take effect simultaneously with each change in the Alternate Base Rate.  Each Eurocurrency Advance shall bear interest
on the outstanding principal amount thereof from the first day of each Interest
Period applicable thereto to the last day of such Interest Period at the
interest rate determined by the Administrative Agent as applicable to such
Eurocurrency Advance based upon the applicable Borrower’s selections under Sections
2.8 and 2.9 and otherwise in accordance with the terms hereof.

 

2.12.        Rates
Applicable After Default. 
Notwithstanding anything to the contrary contained in Section 2.8,
2.9 or 2.11, during the continuance of a Default or Unmatured
Default the Required Lenders may, at their option, by notice to the Company
(which notice may be revoked at the option of the Required Lenders
notwithstanding any provision of Section 8.2 requiring unanimous
consent of the Lenders to changes in interest rates), declare that (a) no
Advance denominated in Dollars may be made as, converted into or continued as a
Eurocurrency Advance and/or (b) each Eurocurrency Advance shall bear
interest for the remainder of the applicable Interest Period at the rate
otherwise applicable to such Interest Period plus 2% per annum and/or (c) each
Floating Rate Advance shall bear interest at a rate per annum equal to the
Floating Rate in effect from time to time plus 2% per annum and/or (d) the
Letter of Credit Fee Rate shall be increased by 2% per annum; provided
that, during the continuance of a Default under Section 7.6 or 7.7,
the interest rates set forth in clauses (b) and (c) above
and the increase in the Letter of Credit Fee Rate set forth in clause (d) above
shall be applicable to all applicable Credit Extensions without any election or
action on the part of the Administrative Agent or any Lender.

 

2.13.        Method
of Payment.  (a)  Each Advance
shall be repaid and each payment of interest thereon shall be paid in the
currency in which such Advance was made. 
Except as set forth in the next sentence, all payments of the
Obligations hereunder shall be made, without setoff, deduction, or
counterclaim, in immediately available funds to the Administrative Agent at the
Administrative Agent’s address specified pursuant to Article XIII,
or at any other Lending Installation of the Administrative Agent specified in
writing by the Administrative Agent to the Company, by noon (Local Time) on the
date when due and shall be applied ratably by the Administrative Agent among
the Lenders in accordance with their Pro Rata Shares.  All payments to be made by a Borrower
hereunder in any currency other than Dollars shall be made in such currency on
the date due in such funds as may then be customary for the settlement of 

 

18

 

international transactions in such currency for the account of the
Administrative Agent at its Eurocurrency Payment Office for such currency, and
shall be applied ratably by the Administrative Agent among the Lenders in
accordance with their respective Pro Rata Shares (or, in the case of any
applicable Borrowing Subsidiary, their respective BSub Percentages).  Each payment delivered to the Administrative
Agent for the account of any Lender shall be delivered promptly by the
Administrative Agent to such Lender in the same type of funds received by the
Administrative Agent.  Each Borrower
authorizes the Administrative Agent to charge any account of such Borrower
maintained with JPMCB or any of its Affiliates for each payment of principal,
interest and fees as it becomes due hereunder.

 

(b)           Notwithstanding
the foregoing provisions of this Section, if, after the making of any
Multicurrency Advance, currency control or exchange regulations are imposed in
the country which issues such currency with the result that the type of
currency in which the Advance was made (the “Original Currency”) no
longer exists or the applicable Borrower is not able to make payment to the
Administrative Agent for the account of the applicable Lenders in such Original
Currency, then all payments to be made by such Borrower hereunder in such
currency shall instead be made when due in Dollars in an amount equal to the
Dollar Amount (as of the date of repayment) of such payment due, it being the
intention of the parties hereto that such Borrower take all risks of the
imposition of any such currency control or exchange regulations.

 

2.14.        Noteless
Agreement; Evidence of Indebtedness. 
(a)  Each Lender shall maintain in accordance with its usual
practice an account or accounts evidencing the indebtedness of the Borrowers to
such Lender resulting from each Loan made by such Lender from time to time,
including the amounts of principal and interest payable and paid to such Lender
from time to time hereunder.

 

(b)           The
Administrative Agent shall maintain accounts in which it will record (i) the
amount of each Loan made to each Borrower hereunder, the Agreed Currency and
Type thereof and, if applicable, the Interest Period with respect thereto, (ii) the
amount of any principal or interest due and payable or to become due and
payable from each Borrower to each Lender hereunder, (iii) the original
stated amount of each Letter of Credit issued for the account of, and the
amount of Letter of Credit Obligations owing by, each Borrower at any time and (iv) the
amount of any sum received by the Administrative Agent hereunder from each
Borrower and each Lender’s share thereof.

 

(c)           The
entries maintained in the accounts maintained pursuant to clauses (a) and
(b) above shall be prima facie
evidence of the existence and amounts of the Obligations therein recorded; provided
that the failure of the Administrative Agent or any Lender to maintain such
accounts or any error therein shall not in any manner affect the obligation of
any Borrower to repay the Obligations in accordance with their terms.

 

2.15.        Telephonic
Notices.  Each Borrower hereby
authorizes the Lenders and the Administrative Agent to extend, convert or
continue Advances in Dollars, effect selections of Agreed Currencies and Types
of Advances and to transfer funds based on telephonic notices made by any
person or persons the Administrative Agent or any Lender in good faith believes
to be acting on behalf of such Borrower, it being understood that the foregoing
authorization is 

 

19

 

specifically intended to allow Borrowing Notices for Advances in
Dollars and Conversion/Continuation Notices to be given telephonically.  Each Borrower agrees to deliver promptly to
the Administrative Agent, upon request of the Administrative Agent or any
Lender, a written confirmation (signed by an Authorized Officer) of each telephonic
notice.  If the written confirmation
differs in any material respect from the action taken by the Administrative
Agent and the Lenders, the records of the Administrative Agent and the Lenders
shall govern absent manifest error. 
Notwithstanding the foregoing, all notices to JPMEL hereunder shall be
in writing.

 

2.16.        Interest
Payment Dates; Interest and Fee Basis. 
Interest accrued on each Floating Rate Advance shall be payable on each
Payment Date, commencing with the first such date to occur after the date
hereof, on any date on which such Floating Rate Advance is prepaid, whether due
to acceleration or otherwise, and at maturity. 
Interest accrued on that portion of the outstanding principal amount of
any Floating Rate Advance converted into a Eurocurrency Advance on a day other
than a Payment Date shall be payable on the date of conversion.  Interest accrued on each Eurocurrency Advance
shall be payable on the last day of each Interest Period therefor, on any date
on which such Eurocurrency Advance is prepaid, whether by acceleration or
otherwise, and at maturity.  Interest
accrued on each Eurocurrency Advance having an Interest Period longer than
three months shall also be payable on the last day of each three-month interval
during such Interest Period.  Interest
and facility fees shall be calculated for actual days elapsed on the basis of a
360-day year, except for interest
on Loans denominated in British Pounds Sterling which shall be calculated for
actual days elapsed on the basis of a 365-day year.  Interest shall be payable for the day an
Advance is made but not for the day of any payment on the amount paid if
payment is received prior to noon (Local Time) at the place of payment.  If any payment of principal of or interest on
an Advance shall become due on a day which is not a Business Day, such payment
shall be made on the next succeeding Business Day and, in the case of a
principal payment, such extension of time shall be included in computing
interest in connection with such payment.

 

2.17.        Notification
of Advances, Interest Rates, Prepayments and Commitment Reductions.  Promptly after receipt thereof, the
Administrative Agent will notify each Lender of the contents of each Aggregate
Commitment reduction notice, Borrowing Notice, Conversion/Continuation Notice,
and repayment notice received by it hereunder. 
The Administrative Agent will notify each Lender of the interest rate
applicable to each Eurocurrency Advance promptly upon determination of such
interest rate and will give each Lender prompt notice of each change in the
Alternate Base Rate.

 

2.18.        Letters
of Credit.

 

(a)           Issuance.  Each Issuer hereby agrees, on the terms and
conditions set forth in this Agreement, to issue standby letters of credit
denominated in Agreed Currencies (each a “Letter of Credit”) and to
renew, extend, increase, decrease or otherwise modify Letters of Credit (“Modify,”
and each such action a “Modification”) from time to time from the date
of this Agreement to the Facility Termination Date upon the request of a
Borrower; provided that immediately after any Letter of Credit is issued
or Modified, (i) the Aggregate Outstanding Credit Exposure shall not
exceed the Aggregate Commitment and (ii) the sum of (A) the Letter of
Credit Obligations under this Agreement plus (B) the “Letter of
Credit Obligations” under and 

 

20

 

as defined in the Long-Term Credit Agreement shall not exceed
$50,000,000.  No Letter of Credit shall
have an expiry date after the earlier of (x) the scheduled Facility
Termination Date and (y) the date that is one year after the date of
issuance thereof (provided that any Letter of Credit with a one-year tenor may
provide for the renewal thereof for additional one-year periods not to extend
beyond the scheduled Facility Termination Date).

 

(b)           Participations.  Upon the issuance or Modification by the
Issuer of a Letter of Credit in accordance with this Section 2.18,
the applicable Issuer shall be deemed, without further action by any Person, to
have unconditionally and irrevocably sold to each Lender, and each Lender shall
be deemed, without further action by any Person, to have unconditionally and
irrevocably purchased from such Issuer, a participation in such Letter of
Credit (and each Modification thereof) and the related Letter of Credit Obligations
in proportion to its Pro Rata Share.

 

(c)           Notice.  Subject to Section 2.18(a), the
applicable Borrower shall give the applicable Issuer notice prior to 10:00 a.m.
(Local Time) at least three Business Days (or such lesser period of time as
such Issuer may agree in its sole discretion) prior to the proposed date of
issuance or Modification of each Letter of Credit, specifying the beneficiary,
the proposed date of issuance (or Modification), the currency in which such
Letter of Credit is to be denominated (which shall be an Agreed Currency) and
the expiry date of such Letter of Credit, and describing the proposed terms of
such Letter of Credit and the nature of the transactions proposed to be
supported thereby.  Upon receipt of such
notice, the applicable Issuer shall promptly notify the Administrative Agent,
and the Administrative Agent shall promptly notify each Lender, of the contents
thereof and of the amount of such Lender’s participation in such proposed
Letter of Credit.  The issuance or
Modification by an Issuer of any Letter of Credit shall, in addition to the
conditions precedent set forth in Article IV (the satisfaction of
which such Issuer shall have no duty to ascertain, it being understood,
however, that such Issuer shall not issue any Letter of Credit if it has
received written notice from any Borrower, the Administrative Agent or any
Lender that any such condition precedent has not been satisfied), be subject to
the conditions precedent that such Letter of Credit shall be satisfactory to such
Issuer and that the applicable Borrower shall have executed and delivered such
application agreement and/or such other instruments and agreements relating to
such Letter of Credit as the Issuer shall have reasonably requested (each a “Letter
of Credit Application”).  In the
event of any conflict between the terms of this Agreement and the terms of any
Letter of Credit Application, the terms of this Agreement shall control.

 

(d)           Letter
of Credit Fees.  Each Borrower shall
pay to the Administrative Agent, for the account of the Lenders ratably in
accordance with their respective Pro Rata Shares, with respect to each Letter
of Credit, a letter of credit fee (the “Letter of Credit Fee”) at a per
annum rate equal to the Letter of Credit Fee Rate in effect from time to time
on the maximum undrawn amount which may at any time thereafter be available
under such Letter of Credit, such fee to be payable in arrears on each Payment
Date, on the Facility Termination Date and, after the Facility Termination Date
(if applicable), on demand.  The Company
shall also pay to each Issuer for its own account (x) a fronting fee in
the amount agreed to by such Issuer and the Company from time to time, with
such fee to be payable in arrears on each Payment Date, and (y) documentary
and processing charges in connection with the issuance or Modification of and
draws under 

 

21

 

Letters of Credit in accordance with such Issuer’s standard schedule
for such charges as in effect from time to time.

 

(e)           Administration;
Reimbursement by Lenders.  Upon
receipt from the beneficiary of any Letter of Credit of any demand for payment
under such Letter of Credit, the applicable Issuer shall notify the
Administrative Agent and the Administrative Agent shall promptly notify the
applicable Borrower and each Lender of the amount to be paid by such Issuer as
a result of such demand and the proposed payment date (the “Letter of Credit
Payment Date”).  The responsibility
of any Issuer to the applicable Borrower and each Lender shall be only to
determine that the documents delivered under each Letter of Credit issued by it
in connection with a demand for payment are in conformity in all material
respects with such Letter of Credit. 
Each Issuer shall endeavor to exercise the same care in its issuance and
administration of Letters of Credit as it does with respect to letters of
credit in which no participations are granted, it being understood that in the
absence of any gross negligence or willful misconduct by such Issuer, each
Lender shall, subject to Section 2.24, be unconditionally and
irrevocably obligated, without regard to the occurrence of any Default or any
condition precedent whatsoever, to reimburse such Issuer on demand for such
Lender’s Pro Rata Share of the amount of each payment made by such Issuer under
each Letter of Credit issued by it to the extent such amount is not reimbursed
by the Borrowers pursuant to Section 2.18(f), plus interest on the
foregoing amount, for each day from the date of the applicable payment by the
Issuer to the date on which such Issuer is reimbursed by such Lender for its
Pro Rata Share thereof, at a rate per annum equal to the Federal Funds
Effective Rate or, beginning on third Business Day after demand for such amount
by such Issuer, the rate applicable to Floating Rate Advances.

 

(f)            Reimbursement
by Borrowers.  The applicable
Borrower shall be irrevocably and unconditionally obligated to reimburse each
Issuer on or before the applicable Letter of Credit Payment Date for any amount
to be paid by such Issuer upon any drawing under any Letter of Credit issued
for the account of such Borrower, without presentment, demand, protest or other
formalities of any kind; provided that such Borrower shall not be
precluded from asserting any claim for direct (but not consequential) damages
suffered by such Borrower to the extent, but only to the extent, caused by the
willful misconduct or gross negligence of such Issuer in determining whether a
request presented under any Letter of Credit complied with the terms of such
Letter of Credit or such Issuer’s failure to pay under any Letter of Credit
after the presentation to it of a request strictly complying with the terms and
conditions of such Letter of Credit.  All
such amounts paid by an Issuer and remaining unpaid by a Borrower shall bear
interest, payable on demand, for each day until paid at a rate per annum equal
to the sum of 2% plus the rate applicable to Floating Rate Advances.  Each Issuer will pay to each Lender ratably
in accordance with its Pro Rata Share all amounts received by it from a
Borrower for application in payment, in whole or in part, of the Reimbursement
Obligation in respect of any Letter of Credit issued by such Issuer, but only
to the extent such Lender made payment to such Issuer in respect of such Letter
of Credit pursuant to Section 2.18(e).

 

(g)           Obligations
Absolute.  The Borrowers’ obligations
under this Section 2.18 shall be absolute and unconditional under
any and all circumstances and irrespective of any setoff, counterclaim or
defense to payment which any Borrower may have or have had against any Issuer,
any Lender or any beneficiary of a Letter of Credit.  The Borrowers further agree with the Issuers
and the Lenders that neither any Issuer nor any Lender shall be responsible
for, and no 

 

22

 

Borrower’s Reimbursement Obligation in respect of any Letter of Credit
shall be affected by, among other things, the validity or genuineness of
documents or of any endorsements thereon, even if such documents should in fact
prove to be in any or all respects invalid, fraudulent or forged, or any
dispute between or among any Borrower, any of its Affiliates, the beneficiary
of any Letter of Credit or any financing institution or other party to whom any
Letter of Credit may be transferred or any claims or defenses whatsoever of any
Borrower or of any of its Affiliates against the beneficiary of any Letter of
Credit or any such transferee.  No Issuer
shall be liable for any error, omission, interruption or delay in transmission,
dispatch or delivery of any message or advice, however transmitted, in
connection with any Letter of Credit issued by it.  Each Borrower agrees that any action taken or
omitted by any Issuer or any Lender under or in connection with any Letter of
Credit issued for the account of such Borrower and the related drafts and
documents, if done without gross negligence or willful misconduct, shall be
binding upon such Borrower and shall not put any Issuer or any Lender under any
liability to such Borrower.  Nothing in
this Section 2.18(g) is intended to limit the right of any
Borrower to make a claim against any Issuer for damages as contemplated by the
proviso to the first sentence of Section 2.18(f).

 

(h)           Actions
of Issuer.  Each Issuer shall be
entitled to rely, and shall be fully protected in relying, upon any Letter of
Credit, draft, writing, resolution, notice, consent, certificate, affidavit,
letter, cablegram, telegram, facsimile, telex or teletype message, statement,
order or other document 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, independent accountants and other experts selected
by such Issuer.  Each Issuer shall be
fully justified in failing or refusing to take any action under this Agreement
unless it shall first have received such advice or concurrence of the Required
Lenders as it reasonably deems appropriate or it shall first be indemnified to
its reasonable 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. Notwithstanding any other provision of this Section 2.18,
each Issuer shall in all cases be fully protected in acting, or in refraining
from acting, under this Agreement in accordance with a request of the Required
Lenders, and such request and any action taken or failure to act pursuant
thereto shall be binding upon the Lenders and any future holder of a
participation in any Letter of Credit issued by such Issuer.

 

(i)            Indemnification.  The Borrowers jointly and severally agree to
indemnify and hold harmless each Lender, each Issuer and the Administrative
Agent, and their respective Related Parties, from and against any and all
claims and damages, losses, liabilities, costs or expenses which such Person
may incur (or which may be claimed against such Person by any other Person) by
reason of or in connection with the issuance, execution and delivery or
transfer of or payment or failure to pay under any Letter of Credit or any
actual or proposed use of any Letter of Credit, including any claims, damages,
losses, liabilities, costs or expenses which any Issuer may incur by reason of
or in connection with the failure of any other Lender to fulfill or comply with
its obligations to such Issuer hereunder (but nothing herein contained shall
affect any right any Borrower may have against any defaulting Lender) or by
reason of or on account of such Issuer issuing any Letter of Credit which
specifies that the term “Beneficiary” therein includes any successor by
operation of law of the named Beneficiary, but which Letter of Credit does not
require that any drawing by any such successor Beneficiary be accompanied by a
copy of a legal document, satisfactory to such Issuer, evidencing the
appointment of such successor 

 

23

 

Beneficiary; provided that the Borrowers shall not be required
to indemnify any Person for any claims, damages, losses, liabilities, costs or
expenses to the extent, but only to the extent, caused by (x) the willful
misconduct or gross negligence of any Issuer in determining whether a request
presented under any Letter of Credit issued by such Issuer complied with the
terms of such Letter of Credit or (y) any Issuer’s failure to pay under
any Letter of Credit after the presentation to it of a request strictly
complying with the terms and conditions of such Letter of Credit.  Nothing in this Section 2.18(i) is
intended to limit the obligations of the Borrowers under any other provision of
this Agreement.

 

(j)            Lenders’
Indemnification.  Each Lender shall,
ratably in accordance with its Pro Rata Share, indemnify each Issuer and its
Related Parties (to the extent not reimbursed by the Borrowers) against any
cost, expense (including reasonable counsel fees and charges), claim, demand,
action, loss or liability (except such as result from such indemnitees’ gross
negligence or willful misconduct or such Issuer’s failure to pay under any
Letter of Credit issued by it after the presentation to it of a request
strictly complying with the terms and conditions of such Letter of Credit) that
such indemnitees may suffer or incur in connection with this Section 2.18
or any action taken or omitted by such indemnitees hereunder.

 

(k)           LC
Collateral Account.  Each Borrower
agrees that it will establish on the Facility Termination Date (or on such
earlier date as may be required pursuant to Section 8.1), and
thereafter maintain so long as any Letter of Credit issued for the account of
such Borrower is outstanding or any amount is payable to any Issuer or the
Lenders in respect of any such Letter of Credit, a special collateral account
pursuant to arrangements satisfactory to the Administrative Agent (each an “LC
Collateral Account”) at the Administrative Agent’s office at the address
specified pursuant to Article XIII, in the name of such Borrower
but under the sole dominion and control of the Administrative Agent, for the
benefit of the Lenders, and in which such Borrower shall have no interest other
than as set forth in Section 8.1. 
Each Borrower hereby pledges, assigns and grants to the Administrative
Agent, on behalf of and for the ratable benefit of the Lenders and the Issuers,
a security interest in all of such Borrower’s right, title and interest in and
to all funds which may from time to time be on deposit in the applicable LC
Collateral Account, to secure the prompt and complete payment and performance
of the Obligations of such Borrower.  The
Administrative Agent will invest any funds on deposit from time to time in any
LC Collateral Account in certificates of deposit of JPMCB having a maturity not
exceeding 30 days.  If funds are
deposited in an LC Collateral Account pursuant to Section 2.7.3 and
the provisions of Section 8.1 are not applicable, then the
Administrative Agent shall release from the LC Collateral Account to the
applicable Borrower, upon the expiration or termination of, or any reduction in
the amount available under, any applicable Letter of Credit, an amount equal to
the excess (if any) of all funds in such LC Collateral Account over the Letter
of Credit Obligations of such Borrower.

 

(l)            Rights
as a Lender.  In its capacity as a Lender,
each Issuer shall have the same rights and obligations as any other Lender.

 

2.19.        Lending
Installations.  Each Lender will book
its Loans at the appropriate Lending Installation listed on its Administrative
Questionnaire or such other Lending Installation designated by such Lender in
accordance with the final sentence of this Section 2.19.  All terms of this Agreement shall apply to
any such Lending Installation and the Loans issued hereunder 

 

24

 

shall be deemed held by each Lender for the benefit of any such Lending
Installation.  Each Lender may, by
written notice to the Administrative Agent and the Company in accordance with Article XIII,
designate replacement or additional Lending Installations through which Loans
will be made by it and for whose account Loan payments are to be made.

 

2.20.        Non-Receipt
of Funds by the Administrative Agent. 
Unless a Borrower or a Lender, as the case may be, notifies the
Administrative Agent prior to the date on which it is scheduled to make payment
to the Administrative Agent of (a) in the case of a Lender, the proceeds
of a Loan or (b) in the case of a Borrower, a payment of principal,
interest or fees to the Administrative Agent for the account of the Lenders, that
it does not intend to make such payment, the Administrative Agent may assume
that such payment has been made.  The
Administrative Agent may, but shall not be obligated to, make the amount of
such payment available to the intended recipient in reliance upon such
assumption.  If such Lender or such
Borrower, as the case may be, has not in fact made such payment to the
Administrative Agent, the recipient of such payment shall, on demand by the
Administrative Agent, repay to the Administrative Agent the amount so made
available together with interest thereon in respect of each day during the
period commencing on the date such amount was so made available by the
Administrative Agent until the date the Administrative Agent recovers such
amount at a rate per annum equal to (i) in the case of payment by a
Borrower, the interest rate applicable to the relevant Loan; or (ii) in
the case of payment by a Lender, (x) for the first three Business Days
after demand, (I) if such payment is denominated in Dollars, the Federal
Funds Effective Rate, (II) if such payment is denominated in Euros or
British Pounds Sterling, the applicable Eurocurrency Reference Rate, or (III) if
such payment is denominated in any other currency, the rate determined by the
Administrative Agent to be its costs of funds for such currency (including
overdraft charges levied by any relevant correspondent bank and any other
taxes, levies, imposts, deductions, charges or withholdings imposed upon, or
charged to, the Administrative Agent in connection with obtaining such
currency), and (y) thereafter (in each case), the interest rate applicable
to the relevant Loan.

 

2.21.        Market
Disruption.  Notwithstanding the
satisfaction of all conditions referred to in Article II and Article IV
with respect to any Advance in any Agreed Currency other than Dollars, if there
shall occur on or prior to the date of such Advance any change in national or
international financial, political or economic conditions or currency exchange
rates or exchange controls which would in the reasonable opinion of the
Administrative Agent or the Required Lenders make it impracticable for the
Eurocurrency Loans comprising such Advance to be denominated in the Agreed
Currency specified by the applicable Borrower, then the Administrative Agent
shall forthwith give notice thereof to the Borrowers and the Lenders, and such
Loans shall not be denominated in such Agreed Currency but shall, except as
otherwise set forth in Section 2.14, be made on such Borrowing Date
in Dollars, in an aggregate principal amount equal to the Dollar Amount of the
aggregate principal amount specified in the related Borrowing Notice or
Conversion/Continuation Notice, as the case may be, as Floating Rate Loans,
unless the applicable Borrower notifies the Administrative Agent at least one
Business Day before such date that (i) it elects not to borrow on such
date or (ii) it elects to borrow on such date in a different Agreed
Currency, as the case may be, in which the denomination of such Loans would in
the opinion of the Administrative Agent and the Required Lenders be practicable
and in an aggregate principal amount approximately equal to the Dollar Amount
of the aggregate 

 

25

 

principal amount specified in the related Borrowing Notice or
Conversion/Continuation Notice, as the case may be.

 

2.22.        Judgment
Currency.  If for the purposes of
obtaining judgment in any court it is necessary to convert a sum due from a
Borrower hereunder in the currency expressed to be payable herein (the “specified
currency”) into another currency, the parties hereto agree, to the fullest
extent that they may effectively do so, that the rate of exchange used shall be
that at which in accordance with normal banking procedures the Administrative
Agent could purchase the specified currency with such other currency at the
Administrative Agent’s main Chicago office on the Business Day preceding that
on which final, non-appealable judgment is given.  The obligations of the Borrowers in respect
of any sum due to any Lender or the Administrative Agent hereunder shall,
notwithstanding any judgment in a currency other than the specified currency,
be discharged only to the extent that on the Business Day following receipt by
such Lender or the Administrative Agent (as the case may be) of any sum
adjudged to be so due in such other currency such Lender or the Administrative
Agent (as the case may be) may in accordance with normal, reasonable banking
procedures purchase the specified currency with such other currency.  If the amount of the specified currency so
purchased is less than the sum originally due to such Lender or the
Administrative Agent, as the case may be, in the specified currency, the
Borrowers jointly and severally agree, to the fullest extent that they may
effectively do so, as a separate obligation and notwithstanding any such
judgment, to indemnify such Lender or the Administrative Agent, as the case may
be, against such loss, and if the amount of the specified currency so purchased
exceeds (a) the sum originally due to any Lender or the Administrative
Agent, as the case may be, in the specified currency and (b) any amounts
shared with other Lenders as a result of allocations of such excess as a
disproportionate payment to such Lender under Section 11.2, such
Lender or the Administrative Agent, as the case may be, agrees to remit such
excess to the Borrowers.

 

2.23.        Borrowing
Subsidiaries; Company as agent for Borrowing Subsidiaries.

 

(a)           The
Company may designate any Subsidiary as a Borrowing Subsidiary; provided
that (i) the Company shall give the Administrative Agent (which shall
promptly notify each Lender) not less than 10 days’ notice of such proposed
designation of a Borrowing Subsidiary, (ii) no Subsidiary may become a
Borrowing Subsidiary without the written consent of the Administrative Agent
(which consent, if granted, may limit the portion of the Aggregate Commitment
that will be made available to, or place other conditions on Loans to, such
Borrowing Subsidiary) and (iii) if any Lender determines in good faith and
notifies the Administrative Agent that lending to such proposed Borrowing
Subsidiary would be illegal, impossible or impractical for such Lender or would
result in costs or expenses for which such Lender would not be indemnified by
the proposed Borrowing Subsidiary or the Company pursuant hereto, or the
Company determines in good faith and notifies the Administrative Agent that
Loans to such proposed Borrowing Subsidiary by any Lender would result in
payments pursuant to Section 3.1 or 3.4 that are materially
in excess of the payments that would be made to the other Lenders pursuant to
such Sections, then (x) the applicable Lender shall have no obligation to
make Loans to such Borrowing Subsidiary and (y) the applicable Borrowing Subsidiary
Agreement shall specify which Lenders are to be BSub Lenders with respect to
such Borrowing Subsidiary and the amount of the applicable BSub Commitments of
such Lenders (which, absent agreement to the contrary among the Company, the
applicable BSub Lenders and 

 

26

 

the Administrative Agent, shall be equal to the percentage that the
amount of such BSub Lenders’ Commitments is of the aggregate amount of the
Commitments of all Lenders that will be BSub Lenders with respect to such
Borrowing Subsidiary).  Subject to the
foregoing, upon delivery to the Administrative Agent of a Borrowing Subsidiary
Agreement signed by the Company and the proposed Borrowing Subsidiary, and the
Administrative Agent’s consent thereto, the applicable Subsidiary shall become
a Borrowing Subsidiary and a party to this Agreement.

 

(b)           Any
Borrowing Subsidiary shall cease to be a Borrowing Subsidiary hereunder if such
Borrowing Subsidiary and the Company shall have executed and delivered to the
Administrative Agent a Borrowing Subsidiary Termination in the form of Exhibit F-2;
provided that at such time no Multicurrency Loans made to, or Letters of
Credit issued for the account of, such Borrowing Subsidiary are then
outstanding.

 

(c)           Each
Borrowing Subsidiary hereby irrevocably appoints and authorizes the Company to
take such action and deliver and receive notices hereunder as agent on its
behalf and to exercise such powers under this Agreement as are delegated to it
by the terms hereof, together with all such powers as are reasonably incidental
thereto.  In furtherance of and not in
limitation of the foregoing, for administrative convenience of the parties
hereto, the Administrative Agent and the Lenders shall send all notices and communications
to be sent to any Borrowing Subsidiary solely to the Company and may rely
solely upon the Company to receive all such notices and other communications
for and on behalf of each Borrowing Subsidiary. 
No Person other than the Company (and its authorized officers and
employees) may act as agent for any Borrowing Subsidiary hereunder without the
written consent of the Administrative Agent.

 

2.24.        Effect
of Participation Funding Notice.

 

(a)           Each
Lender that is not a BSub Lender with respect to any Borrowing Subsidiary
agrees that it shall at all times have a participation in and acknowledges that
it is irrevocably and unconditionally obligated, upon receipt of notice that
the Administrative Agent has received a Participation Funding Notice, to fund
(or to cause an Affiliate to fund) its participation in, (i) its Pro Rata
Share of all Loans to such Borrowing Subsidiary.

 

(b)           The
Administrative Agent shall promptly notify each Lender of its receipt of a
Participation Funding Notice.  Promptly
upon receipt of such Participation Funding Notice, (i) each Lender that is
not a BSub Lender with respect to any Borrowing Subsidiary shall (or shall
cause an Affiliate to) make available to the Administrative Agent for the
account of the BSub Lenders with respect to such Borrowing Subsidiary an amount
in each applicable currency and in immediately available funds equal to its Pro
Rata Share of all outstanding Loans to such Borrowing Subsidiary.  If any Lender so notified fails to make
available to the Administrative Agent for the account of the applicable other
Lenders the full amount of such Lender’s participations in all applicable Loans
by 12:00 noon, Local Time, on the Business Day following its receipt of such
notice from the Administrative Agent (or two Business Days following receipt of
such notice if such notice is received after 12:00 noon, Local Time, on any
Business Day), then interest shall accrue on such Lender’s obligation to fund
such participations, from the date such obligation became due to the date such
Lender pays such obligations in full, at a rate per annum equal to the Federal
Funds Rate in effect from time to time (or a comparable rate 

 

27

 

determined by the Administrative Agent to be appropriate for the
applicable currency) plus, beginning three Business Days after such amount was
due, 2%.  The Administrative Agent shall
promptly distribute to each Lender an amount equal to its applicable share of
the amount received from any other Lender to fund its participation in the
Loans of such Lender together with its applicable share of any interest
received from such other Lender pursuant to the previous sentence, in the same
funds as those received by the Administrative Agent.

 

(c)           From
and after the date on which the Administrative Agent has received a
Participation Funding Notice, all funds received by the Administrative Agent in
payment of any Loan and interest thereon shall be distributed by the
Administrative Agent, in the same funds as those received by the Administrative
Agent, to all Lenders in accordance with their respective Pro Rata Shares
(i.e., giving effect to the funding of participations pursuant to this Section 2.24),
except that any such funds otherwise payable to any Lender that has not funded
its participations as provided herein shall be distributed ratably to the other
Lenders until such participations have been funded.

 

(d)           Each
Lender’s obligation to purchase participation interests in Loans pursuant to
this Section 2.24 shall be absolute and unconditional and shall not
be affected by any circumstance whatsoever, including (i) any set-off,
counterclaim, recoupment, defense or other right which such Lender may have
against the Administrative Agent, any other Lender, any Borrower or any other
Person for any reason whatsoever, (ii) the occurrence or continuance of a
Default or an Unmatured Default, (iii) any adverse change in the condition
(financial or otherwise) of any Borrower or any other Person, (iv) any
breach of this Agreement by any Borrower or any other Lender, (v) any
inability of any Borrower to satisfy the conditions precedent to borrowing set
forth in this Agreement on the date upon which any participation interest in
any Loan is to be purchased or (vi) any other circumstance, happening or
event whatsoever, whether or not similar to any of the foregoing.

 

2.25.        Funding
of Participations in Dollars.  Any
Lender may fund its purchase of a participation in any Letter of Credit
denominated in any currency other than Dollars, by delivering to the
Administrative Agent on the date such participation is to be funded an amount
in Dollars equal to the sum of (a) the amount necessary for the
Administrative Agent to purchase on such date in accordance with its customary
procedures an amount in the applicable currency sufficient to fund such Lender’s
required participation payment plus (b) the reasonable and customary
costs, fees and expenses of the Administrative Agent in making such purchase.

 

ARTICLE III

YIELD PROTECTION; TAXES

 

3.1.          Yield
Protection.  If, on or after the date
of this Agreement, the adoption of any law or any governmental or
quasi-governmental rule, regulation, policy, guideline or directive (whether or
not having the force of law), or any change in the interpretation or
administration thereof by any governmental or quasi-governmental authority,
central bank or comparable agency charged with the interpretation or
administration thereof, or compliance by any Lender, any applicable Lending
Installation or any Issuer with any request or directive (whether or not having
the force of law) of any such authority, central bank or comparable agency:

 

28

 

(a)           subjects
any Lender, any applicable Lending Installation or any Issuer to any Taxes, or
changes the basis of taxation of payments (other than with respect to Excluded
Taxes) to any Lender or any Issuer in respect of its Eurocurrency Loans or
Letters of Credit or participations therein;

 

(b)           imposes
or increases or deems applicable any reserve, assessment, insurance charge,
special deposit or similar requirement against assets of, deposits with or for
the account of, or credit extended by, any Lender, any applicable Lending
Installation or any Issuer (other than reserves and assessments taken into
account in determining the interest rate applicable to Eurocurrency Advances);
or

 

(c)           imposes
any other condition the result of which is to increase the cost to any Lender,
any applicable Lending Installation or any Issuer of making, funding or
maintaining its Eurocurrency Loans or of issuing or participating in Letters of
Credit or reduces any amount receivable by any Lender, any applicable Lending
Installation or any Issuer in connection with its Eurocurrency Loans or Letters
of Credit, or requires any Lender, any applicable Lending Installation or any
Issuer to make any payment calculated by reference to the amount of
Eurocurrency Loans or Letters of Credit held or interest received by it, by an
amount deemed material by such Lender or such Issuer, as the case may be,

 

and the result
of any of the foregoing is to increase the cost to such Lender, such applicable
Lending Installation or such Issuer of making or maintaining its Eurocurrency
Loans, Letters of Credit or Commitment or to reduce the return received by such
Lender, such applicable Lending Installation or such Issuer in connection with
such Eurocurrency Loans, Letters of Credit or Commitment, then, within 15 days
of demand by such Lender or such Issuer, the Borrowers shall pay such Lender or
such Issuer such additional amount or amounts as will compensate such Lender or
such Issuer for such increased cost or reduction in amount received.

 

3.2.          Availability
of Types of Advances.  If any Lender
determines that maintenance of its Eurocurrency Loans at a suitable Lending
Installation would violate any applicable law, rule, regulation, or directive,
whether or not having the force of law, or if the Required Lenders determine
that (i) deposits of a type, currency and maturity appropriate to match
fund Eurocurrency Advances are not available or (ii) the interest rate
applicable to Eurocurrency Advances does not accurately reflect the cost of
making or maintaining Eurocurrency Advances, then the Administrative Agent
shall suspend the availability of Eurocurrency Advances and require any
affected Eurocurrency Advances to be repaid or, in the case of Advances to the
Company, converted to Floating Rate Advances, subject to the payment of any
funding indemnification amounts required by Section 3.3.

 

3.3.          Funding
Indemnification.  If any payment of a
Eurocurrency Advance occurs on a date which is not the last day of the
applicable Interest Period, whether because of acceleration, prepayment or
otherwise, or a Eurocurrency Advance is not made on the date specified by the
applicable Borrower for any reason other than default by the Lenders, the
Borrowers will jointly and severally indemnify each Lender for any loss or cost
incurred by it resulting therefrom, including any loss or cost in liquidating or
employing deposits acquired to fund or maintain such Eurocurrency Advance.

 

29

 

3.4.          Taxes.  (a)  All payments by the Borrowers to or
for the account of any Lender, any Issuer or the Administrative Agent hereunder
or under any other Loan Document shall be made free and clear of and without
deduction for any and all Taxes.  If any
Borrower shall be required by law to deduct any Taxes from or in respect of any
sum payable hereunder to any Lender, any Issuer or the Administrative Agent, (i) the
sum payable shall be increased as necessary so that after making all required
deductions (including deductions applicable to additional sums payable under
this Section 3.4) such Lender, such Issuer or the Administrative
Agent (as the case may be) receives an amount equal to the sum it would have
received had no such deductions been made, (ii) such Borrower shall make
such deductions, (iii) the Borrower shall pay the full amount deducted to
the relevant authority in accordance with applicable law and (iv) such
Borrower shall furnish to the Administrative Agent the original copy of a
receipt evidencing payment thereof within 30 days after such payment is made.

 

(b)           In addition,
the Borrowers hereby agree to pay any present or future stamp or documentary
taxes and any other excise or property taxes, charges or similar levies which
arise from any payment made hereunder or from the execution or delivery of, or
otherwise with respect to, this Agreement or any other Loan Document (“Other Taxes”).

 

(c)           The Borrowers
jointly and severally hereby agree to indemnify the Administrative Agent, each
Lender and each Issuer for the full amount of Taxes or Other Taxes (including
any Taxes or Other Taxes imposed on amounts payable under this Section 3.4)
paid by the Administrative Agent, such Lender or such Issuer as a result of its
Commitment, any Credit Extension made by it hereunder, or otherwise in
connection with its participation in this Agreement and any liability
(including penalties, interest and expenses) arising therefrom or with respect
thereto.  Payments due under this
indemnification shall be made within 30 days of the date the Administrative
Agent, such Lender or such Issuer makes demand therefor pursuant to Section 3.5.

 

(d)           Each Lender
that is not incorporated under the laws of the United States of America or a
state thereof (each a “Non-U.S. Lender”) agrees that it will, not more than ten
Business Days after the date of this Agreement, (i) deliver to the
Administrative Agent two duly completed copies of United States Internal
Revenue Service Form W-8BEN or W-8ECI, certifying in either case that such
Lender is entitled to receive payments under this Agreement without deduction
or withholding of any United States federal income taxes, and (ii) deliver
to the Administrative Agent a United States Internal Revenue Form W-8 or
W-9, as the case may be, and certify that it is entitled to an exemption from
United States backup withholding tax. 
Each Non-U.S. Lender further undertakes to deliver to the Company and
the Administrative Agent (x) renewals or additional copies of such form
(or any successor form) on or before the date that such form expires or becomes
obsolete, and (y) after the occurrence of any event requiring a change in
the most recent forms so delivered by it, such additional forms or amendments
thereto as may be reasonably requested by the Company or the Administrative
Agent.  All forms or amendments described
in the preceding sentence shall certify that such Lender is entitled to receive
payments under this Agreement without deduction or withholding of any United
States federal income taxes, unless an event (including any change in treaty,
law or regulation) has occurred prior to the date on which any such delivery
would otherwise be required which renders all such forms inapplicable or which
would prevent such Lender from duly completing and delivering any such form or
amendment with respect to it and such Lender 

 

30

 

advises
the Company and the Administrative Agent that it is not capable of receiving
payments without any deduction or withholding of United States federal income
tax.

 

(e)           For any period
during which a Non-U.S. Lender has failed to provide the Company with an
appropriate form pursuant to clause (d) above (unless such failure
is due to a change in treaty, law or regulation, or any change in the
interpretation or administration thereof by any governmental authority,
occurring subsequent to the date on which a form originally was required to be
provided), such Non-U.S. Lender shall not be entitled to indemnification under
this Section 3.4 with respect to Taxes imposed by the United
States; provided that, should a Non-U.S. Lender which is otherwise
exempt from or subject to a reduced rate of withholding tax become subject to
Taxes because of its failure to deliver a form required under clause (iv) above,
the Borrowers shall take such steps as such Non-U.S. Lender shall reasonably
request to assist such Non-U.S. Lender to recover such Taxes.

 

(f)            Any Lender that
is entitled to an exemption from or reduction of withholding tax with respect
to payments under this Agreement pursuant to the law of any relevant
jurisdiction or any treaty shall deliver to the Company (with a copy to the
Administrative Agent), at the time or times prescribed by applicable law, such
properly completed and executed documentation prescribed by applicable law as
will permit such payments to be made without withholding or at a reduced rate.

 

(g)           If the U.S.
Internal Revenue Service or any other governmental authority of the United
States or any other country or any political subdivision thereof asserts a
claim that the Administrative Agent did not properly withhold tax from amounts
paid to or for the account of any Lender (because the appropriate form was not
delivered or properly completed, because such Lender failed to notify the
Administrative Agent of a change in circumstances which rendered its exemption
from withholding ineffective, or for any other reason), such Lender shall
indemnify the Administrative Agent fully for all amounts paid, directly or
indirectly, by the Administrative Agent as tax, withholding therefor, or
otherwise, including penalties and interest, and including taxes imposed by any
jurisdiction on amounts payable to the Administrative Agent under this
subsection, together with all costs and expenses related thereto (including
attorneys fees and time charges of attorneys for the Administrative Agent,
which attorneys may be employees of the Administrative Agent).  The obligations of the Lenders under this Section 3.4(g) shall
survive the payment of the Obligations and termination of this Agreement.

 

3.5.          Lender
Statements; Survival of Indemnity.  To the extent reasonably possible, each
Lender shall designate an alternate Lending Installation with respect to its
Eurocurrency Loans to reduce any liability of the Borrowers to such Lender
under Sections 3.1, 3.3 and 3.4 or to avoid the
unavailability of Eurocurrency Advances under Section 3.2, so long
as such designation is not, in the judgment of such Lender, disadvantageous to
such Lender.  Each Lender and each Issuer
shall deliver a written statement to the Company (with a copy to the
Administrative Agent) as to the amount due, if any, under Section 3.1,
3.3 or 3.4.  Such written
statement shall set forth in reasonable detail the calculations upon which such
Lender or such Issuer determined such amount and shall be final, conclusive and
binding on the Borrowers in the absence of manifest error.  Determination of amounts payable under such
Sections in connection with a Eurocurrency Loan shall be calculated as though
the applicable Lender funded its Eurocurrency Loan through the purchase of a
deposit of the type, currency and maturity 

 

31

 

corresponding
to the deposit used as a reference in determining the Eurocurrency Rate
applicable to such Loan, whether in fact that is the case or not.  Unless otherwise provided herein, the amount
specified in the written statement of any Lender or any Issuer shall be payable
on demand after receipt by the Company of such written statement.  The obligations of the Borrowers under Sections
3.1, 3.3 and 3.4 shall survive payment of the Obligations and
termination of this Agreement.

 

ARTICLE IV

CONDITIONS PRECEDENT

 

4.1.          Effectiveness.  This Agreement shall become effective (and
all outstanding “Advances” under and as defined in the Existing Agreement
shall, except to the extent concurrently repaid, be deemed to be Advances
hereunder) on the date (the “Effective Date”) on which (i) no
Default or Unmatured Default exists, (ii) the representations and
warranties set forth in Article V are true and correct; and (iii) the
Company has furnished to the Administrative Agent with sufficient copies for
the Lenders:

 

(a)           Copies of the
articles or certificate of incorporation (or similar formation documents) of
the Company, together with all amendments, and a certificate of good standing,
each certified by the appropriate governmental officer in its jurisdiction of
formation, as well as any other information required by Section 326 of the
USA Patriot Act or necessary for the Administrative Agent or any Lender to
verify the identity of the Company as required by Section 326 of the USA
Patriot Act.

 

(b)           Copies,
certified by the Secretary or an Assistant Secretary of the Company, of its
by-laws and of the resolutions of its Board of Directors and of resolutions or
actions of any other body authorizing the execution of the Loan Documents to
which the Company is a party.

 

(c)           An incumbency
certificate, executed by the Secretary or an Assistant Secretary of the
Company, which shall identify by name and title and bear the signatures of the
Authorized Officers and any other officers of the Company authorized to sign
the Loan Documents to which the Company is a party, upon which certificate the
Administrative Agent and the Lenders shall be entitled to rely until informed
of any change in writing by the Company.

 

(d)           A certificate,
signed by the chief financial officer of the Company, stating that on the date
of the initial Credit Extension, no Default or Unmatured Default has occurred
and is continuing.

 

(e)           A written
opinion of counsel to the Company, addressed to the Lenders and in substance
reasonably acceptable to the Administrative Agent.

 

(f)            Certified
copies of all required consents and approvals from third parties, including
governmental approvals, with respect to the execution and delivery by the
Company of, and the performance by the Company of its obligations under, each
Loan Document to which it is a party.

 

32

 

(g)           A Borrowing
Subsidiary Confirmation, in substantially the form of Exhibit C,
duly executed by each Borrowing Subsidiary which executed a Borrowing
Subsidiary Agreement under the Existing Agreement.

 

(h)           Such other
documents as any Lender or its counsel may have reasonably requested.

 

4.2.          Each Credit
Extension.  The Lenders
shall not be required to make any Credit Extension unless on the applicable
Borrowing Date or issuance date:

 

(a)           There exists no
Default or Unmatured Default.

 

(b)           The representations
and warranties contained in Article V (other than (i) the
representation and warranty in Section 5.4 and (ii) solely
with respect to Credit Extensions the proceeds of which will be used to pay
maturing commercial paper of the Company, the representation and warranty in Section 5.5)
are true and correct as of such Borrowing Date or issuance date except to the
extent any such representation or warranty is stated to relate solely to an
earlier date, in which case such representation or warranty shall have been
true and correct on and as of such earlier date.

 

(c)           All legal
matters incident to the making of such Credit Extension shall be satisfactory
to the Lenders and their counsel.

 

Each delivery of a Borrowing
Notice and each request for the issuance of a Letter of Credit shall constitute
a representation and warranty by the applicable Borrower (and, if the Company
is not the Borrower, by the Company) that the conditions contained in Sections
4.2(a) and (b) have been satisfied.  Any Lender may require a duly completed
compliance certificate in substantially the form of Exhibit A as a
condition to making a Credit Extension.

 

4.3.          Initial Loans
to a Borrowing Subsidiary.  The
Lenders shall not be required to make Loans to any Borrowing Subsidiary unless (i) the
conditions precedent set forth in Sections 4.1 and 4.2 have been
satisfied and (ii) such Borrowing Subsidiary has furnished to the
Administrative Agent with sufficient copies for the Lenders:

 

(a)           Copies of the
articles or certificate of incorporation (or similar formation documents) of
such Borrowing Subsidiary, together with all amendments, and (to the extent
applicable) a certificate of good standing, each certified by the appropriate
governmental officer in its jurisdiction of formation, as well as any other
information required by Section 326 of the USA Patriot Act or necessary
for the Administrative Agent or any Lender to verify the identity of such
Borrowing Subsidiary as required by Section 326 of the USA Patriot Act.

 

(b)           Copies,
certified by the Secretary or Assistant Secretary of such Borrowing Subsidiary,
of its by-laws (or similar governing document) and of the resolutions of its
Board of Directors (or similar governing body) and of resolutions or actions of
any other body authorizing the execution of the Loan Documents to which such
Borrowing Subsidiary is a party.

 

(c)           An incumbency
certificate, executed by the Secretary or Assistant Secretary (or comparable
officer) of such Borrowing Subsidiary, which shall identify by name and title
and 

 

33

 

bear
the signatures of the officers of such Borrowing Subsidiary authorized to sign
the Loan Documents to which such Borrowing Subsidiary is a party, upon which
certificate the Administrative Agent and the Lenders shall be entitled to rely
until informed of any change in writing by such Borrowing Subsidiary.

 

(d)           A written
opinion of counsel to such Borrowing Subsidiary, addressed to the Lenders and
in substance reasonably acceptable to the Administrative Agent.

 

(e)           Certified
copies of all required consents and approvals from third parties, including
governmental approvals, with respect to the execution and delivery by such
Borrowing Subsidiary of, and the performance by such Borrowing Subsidiary of
its obligations under, the Loan Documents to which it is a party.

 

(f)            Such other
documents as any Lender or its counsel may have reasonably requested.

 

ARTICLE V

REPRESENTATIONS AND WARRANTIES

 

The Company represents and
warrants to the Lenders that:

 

5.1.          Corporate
Existence and Power.  Each of the
Company and each Material Subsidiary is duly organized, validly existing, and
in good standing, under the laws of the jurisdiction of its formation, has all
power and authority to carry on its business as now being conducted and to own
its properties and is duly licensed or qualified and in good standing in each
other jurisdiction in which its properties are located or in which failure to
qualify would materially and adversely affect the conduct of its business or
the enforceability of contractual rights of the Company or such Subsidiary.

 

5.2.          Corporate
Authorization.  The
execution, delivery and performance by each Borrower of this Agreement and the
other Loan Documents to which such Borrower is a party are within such Borrower’s
corporate or other company power, have been duly authorized by all necessary
corporate or other company action and will not contravene, or constitute a
default under, any provision of applicable law or regulation or of the
certificate or articles of incorporation (or similar formation document) or
by-laws (or similar governing document) of such Borrower, or of any judgment,
order, decree, agreement or instrument binding on such Borrower or result in
the creation of any Lien upon any of its property or assets.

 

5.3.          Binding Effect.  This Agreement constitutes, and the other
Loan Documents to which any Borrower is a party when duly executed on behalf of
such Borrower and delivered in accordance with this Agreement will constitute,
the valid and binding obligations of such Borrower, enforceable against such
Borrower in accordance with their respective terms.

 

5.4.          Financial
Statements.

 

(a)           The
consolidated balance sheet of the Company and its Consolidated Subsidiaries as
at December 31, 2007 and the related consolidated statements of income and
cash flows of the Company and its Consolidated Subsidiaries for the fiscal year
then ended, certified by 

 

34

 

PriceWaterhouseCoopers,
LLP, certified public accountants, and set forth in the Company’s 2007 Form 10-K,
a copy of which has been delivered to each of the Lenders, fairly present, in
conformity with generally accepted accounting principles, the consolidated
financial position of the Company and its Consolidated Subsidiaries at such
date and the consolidated results of operations for such fiscal year.

 

(b)           No material
adverse change has occurred in the financial position, results of operations or
business of the Company and its Consolidated Subsidiaries since December 31,
2007.

 

5.5.          Litigation and
Contingent Liabilities. 
There are no actions, suits or proceedings pending against or, to the
knowledge of the Company, threatened against or affecting the Company or any
Subsidiary in any court or before or by any governmental department, agency or
instrumentality which could reasonably be expected to have a Material Adverse
Effect.  Other than any liability
incident to such litigation or proceedings, neither the Company nor any
Subsidiary has any contingent liabilities which are material to the Company and
its Subsidiaries taken as a whole and which are not provided for or disclosed
in Schedule 5.5.

 

5.6.          Taxes.  The Company and each of its Subsidiaries has
filed (or has obtained extensions of the time by which it is required to file)
all United States federal income tax returns and all other material tax returns
required to be filed by it and has paid all taxes shown due on the returns so
filed as well as all other taxes, assessments and governmental charges which
have become due, except (a) such taxes, if any, as are being contested in
good faith and as to which adequate reserves have been provided and (b) other
taxes that do not at any time exceed $1,000,000 in the aggregate.

 

5.7.          Governmental
and other Approvals.  No
approval, consent or authorization of or filing or registration with any
governmental authority or body is necessary for the execution, delivery or
performance by any Borrower of this Agreement or the other Loan Documents to
which such Borrower is a party or for the performance by such Borrower of any
of the terms or conditions hereof or thereof, except for such approvals,
consents or authorizations (copies of which have been delivered to the Lenders)
as have been obtained and are in full force and effect.

 

5.8.          Compliance with
ERISA.  Each member of the Controlled
Group has fulfilled its obligations under the minimum funding standards of
ERISA and the Code with respect to each Plan and is in compliance in all
material respects with the presently applicable provisions of ERISA and the
Code, and has not incurred liabilities which are due and payable aggregating in
excess of $5,000,000 to the PBGC or a Plan under Title IV of ERISA.

 

5.9.          Environmental
Matters.  In the ordinary course of its
business, the Company conducts an ongoing review of the effect of Environmental
Laws on the business, operations and properties of the Company and its
Subsidiaries, in the course of which it identifies and evaluates associated
liabilities and costs (including any capital or operating expenditures required
for clean-up or closure of properties presently or previously owned, any
capital or operating expenditures required to achieve or maintain compliance
with environmental protection standards imposed by law or as a condition of any
license, permit or contract, any related constraints on operating activities,
including any periodic or permanent shutdown of any facility 

 

35

 

or
reduction in the level of or change in the nature of operations conducted
thereat, any costs or liabilities in connection with off-site disposal of
wastes or Hazardous Substances, and any actual or potential liabilities to
third parties, including employees, and any related costs and expenses).  On the basis of such review, the Company has
reasonably concluded that such associated liabilities and costs, including the
costs of compliance with Environmental Laws, are unlikely to have a Material
Adverse Effect.

 

5.10.        Ownership of
Properties; Liens.  The Company
and its Subsidiaries own good and marketable title to, or a valid leasehold
interest in, all Properties which are material to the Company and its
Subsidiaries taken as a whole, real and personal, tangible and intangible, of
any nature whatsoever (including patents, trademarks, trade names, service
marks and copyrights), free and clear of all Liens, charges and claims
(including infringement claims with respect to patents, trademarks, copyrights
and the like) except as permitted pursuant to Section 6.11.

 

5.11.        Subsidiaries.  As of the date hereof, the Company has no
Subsidiaries except those listed in Schedule 5.11, and each Subsidiary
which is a Material Subsidiary is designated thereon.

 

5.12.        Investment
Company Act.  Neither the
Company nor any Subsidiary is an “investment company” or a company “controlled”
by an “investment company”, within the meaning of the Investment Company Act of
1940.

 

5.13.        Regulation U.  No Borrower is engaged principally, or as one
of its important activities, in the business of extending credit for the
purpose of purchasing or carrying margin stock.

 

5.14.        Accuracy of
Disclosure.  All
information heretofore or contemporaneously herewith furnished by the Company
or any Subsidiary to the Administrative Agent or any Lender for purposes of or
in connection with this Agreement and the transactions contemplated hereby is,
and all information hereafter furnished by or on behalf of the Company or any
Subsidiary to the Administrative Agent or any Lender pursuant hereto or in
connection herewith will be, when taken together, true and accurate in every
material respect on the date as of which such information is dated or
certified, and none of such information is or will be incomplete by omitting to
state any material fact necessary to make such information not misleading.

 

5.15.        No Burdensome
Restrictions.  Neither the
Company nor any Subsidiary is a party to any agreement or instrument or subject
to any other obligation or any charter or corporate restriction or any provision
of any applicable law, rule or regulation which, individually or in the
aggregate, could reasonably be expected to have a Material Adverse Effect.

 

ARTICLE V

COVENANTS

 

During the term of this
Agreement, unless the Required Lenders shall otherwise consent in writing:

 

6.1.          Financial
Statements.  The Company
will deliver, or caused to be delivered, to each of the Lenders:

 

36

 

(a)           as soon as
available and in any event within 120 days after the end of each fiscal year of
the Company (or, if earlier, 30 days after the date customarily required to be
filed by the Company with the Securities and Exchange Commission), a
consolidated balance sheet of the Company and its Consolidated Subsidiaries as
at the end of such year, and consolidated statements of income and cash flows
of the Company and its Consolidated Subsidiaries for such year, setting forth
in each case in comparative form corresponding consolidated figures from the
preceding fiscal year, all reported on in a manner acceptable to the Securities
and Exchange Commission by PriceWaterhouseCoopers, LLP or other independent
certified public accountants of nationally recognized standing;

 

(b)           as soon as
available and in any event within 45 days after the end of each of the first
three quarters of each fiscal year of the Company (or, if earlier, 15 days
after the date required to be filed by the Company with the Securities and
Exchange Commission), a consolidated balance sheet of the Company and its
Consolidated Subsidiaries as at the end of such quarter and the related
consolidated statements of income and cash flow of the Company and its
Consolidated Subsidiaries for such quarter and for the portion of the Company’s
fiscal year ended at the end of such quarter setting forth in each case in
comparative form the figures for the corresponding quarter and the
corresponding portion of the Company’s previous fiscal year, all certified
(subject to normal year-end adjustments) as to fairness of presentation,
generally accepted accounting principles and consistency by the chief financial
officer or the chief accounting officer of the Company;

 

(c)           simultaneously
with the delivery of each set of financial statements referred to in clauses
(a) and (b) above, a certificate of the chief financial
officer or the chief accounting officer of the Company (i) setting forth
in reasonable detail the calculations required to establish whether the Company
was in compliance with the requirements of Sections 6.9 and 6.10
on the date of such financial statements and (ii) stating whether there
exists on the date of such certificate any Default or Unmatured Default and, if
any Default or Unmatured Default exists, setting forth the details thereof and
the action which the Company is taking or proposes to take with respect
thereto;

 

(d)           simultaneously
with the delivery of each set of financial statements referred to in clause (a) above,
a statement of the firm of independent public accountants which reported on
such statements (i) to the effect that nothing has come to their attention
to cause them to believe that there existed on the date of such statements any
Default or Unmatured Default and (ii) confirming the calculations set
forth in the officer’s certificate delivered simultaneously therewith pursuant
to clause (c) above;

 

(e)           forthwith upon
the occurrence of any Default or Unmatured Default, a certificate of the chief
financial officer or the chief accounting officer of the Company setting forth
the details thereof and the action which the Company is taking or proposes to
take with respect thereto;

 

(f)            promptly upon
the mailing thereof to the shareholders of the Company generally, copies of all
financial statements, reports and proxy statements so mailed;

 

37

 

(g)           promptly upon
the filing thereof, copies of all registration statements (other than the
exhibits thereto and any registration statements on Form S-8 or its
equivalent) and annual, quarterly or monthly reports which the Company shall have
filed with the Securities and Exchange Commission;

 

(h)           if and when any
member of the Controlled Group (i) receives notice of complete or partial
withdrawal liability or liabilities aggregating in excess of $5,000,000 under
Title IV of ERISA, a copy of such notice; or (ii) receives notice from the
PBGC under Title IV of ERISA of an intent to terminate or appoint a trustee to
administer any Plan or Plans having aggregate Unfunded Vested Liabilities in
excess of $5,000,000, a copy of such notice;

 

(i)            if at any time
the value of all “margin stock” (as defined in Regulation U) owned by the
Company and its Consolidated Subsidiaries exceeds (or would, following
application of the proceeds of an intended Credit Extension hereunder, exceed)
25% of the value of the total assets of the Company and its Consolidated
Subsidiaries, in each case as reasonably determined by the Company, prompt
notice of such fact and, promptly upon the request of any Lender, a duly
completed statement of purpose on Form U-1 for each Lender together with
such other information or documents as each Lender may be required to obtain
under Regulation U in connection with this Agreement; and

 

(j)            from time to
time such additional information regarding the financial position or business
of the Company or any Subsidiary as the Administrative Agent at the request of
any Lender may reasonably request.

 

6.2.          Maintenance of
Existence.  Except as
permitted by Section 6.12, the Company will, and will cause each
Subsidiary to, (a) preserve and maintain its corporate existence and all
of its rights, privileges and franchises necessary or desirable in the normal
conduct of its business and (b) conduct its business in a regular manner.

 

6.3.          Books and
Records; Maintenance of Properties; Inspections.

 

(a)           The Company
will keep, and will cause each Subsidiary to keep, its books and records in
accordance with sound business practices sufficient to allow the Company to
prepare its financial statements in accordance with GAAP.

 

(b)           The Company
will, and will cause each Subsidiary to, keep all of its properties necessary,
in the judgment of the Board of Directors of the Company, in its business in
good working order and condition, ordinary wear and tear excepted, and will
permit representatives of the Lenders to inspect such properties, and to
examine and make extracts from the books and records of the Company or any
Subsidiary, during normal business hours.

 

6.4.          Compliance with
Laws and Contractual Obligations.  The Company will, and will cause each
Subsidiary to, comply with the requirements of (a) all applicable laws,
rules, regulations and orders of any governmental body or regulatory agency
having jurisdiction and (b) any agreement or instrument binding upon such
Person, a breach of which could have a material adverse effect on the
consolidated financial condition or the business taken as a whole of the
Company and its Subsidiaries, except where contested in good faith and by
proper proceedings.

 

38

 

6.5.          Notice of Proceedings.  The Company will promptly give notice in
writing to each Lender of all litigation, arbitral proceedings and regulatory
proceedings affecting the Company or any Subsidiary or the property of the
Company or any Subsidiary, except litigation or proceedings which, if adversely
determined, could not materially and adversely affect the consolidated
financial condition or the business taken as a whole of the Company and its
Subsidiaries.

 

6.6.          Use of Proceeds.  The Company will, and will cause each other
Borrower to, use the proceeds of the applicable Credit Extensions for
commercial paper back-up and other general company purposes of the Company and
its Subsidiaries (including non-hostile acquisitions to the extent permitted
hereunder).  The Company will not, and
will not permit any other Borrower to, use any part of the proceeds of any
Credit Extension hereunder to purchase or carry any margin stock or to extend
credit to others for the purpose of purchasing or carrying any margin stock.  If requested by any Lender, the Company will,
and will cause each Borrowing Subsidiary to, furnish to any Lender in
connection with any Loan hereunder a statement in conformity with the
requirements of Federal Reserve Form U-1 referred to in Regulation U.

 

6.7.          Payment of
Taxes.  The Company will, and will
cause each Subsidiary to, pay and discharge all taxes, assessments and
governmental charges or levies imposed on it or on its income or profits or on
any of its property prior to the date on which penalties attach thereto, except
taxes, assessments, charges or levies (a) the payment of which is being
contested in good faith and by proper proceedings and against which it is
maintaining adequate reserves or (b) that do not at any time exceed
$1,000,000 in the aggregate.

 

6.8.          Insurance.  The Company will, and will cause each
Subsidiary to, maintain insurance with responsible companies in such amounts
and against such risks as is usually carried by owners of similar businesses
and properties in the same general areas in which the Company and its
Subsidiaries operate.

 

6.9.          Maximum
Consolidated Debt to Total Capital Ratio.  The Company will not permit the ratio of
Consolidated Debt to Total Capital (expressed as a percentage) at any time to
exceed 55%.

 

6.10.        Minimum Consolidated
Net Worth.  The Company
will not permit Consolidated Net Worth at any time to be less than
$1,250,000,000.

 

6.11.        Liens.  Neither the Company nor any Subsidiary will
create, assume or suffer to exist any Lien securing Debt on any asset now owned
or hereafter acquired by it, except for:

 

(a)           Liens existing
on the date hereof securing Debt outstanding on the date hereof;

 

(b)           any Lien
existing on any asset of any entity at the time such entity becomes a
Subsidiary and not created in contemplation of such event;

 

(c)           any Lien on any
asset securing Debt incurred or assumed for the purpose of financing all or any
part of the cost of acquiring such asset; provided that such Lien
attaches to such asset concurrently with or within 90 days after the acquisition
thereof;

 

39

 

(d)           any Lien on any asset of any entity existing
at the time such entity is merged into or consolidated with the Company or a
Subsidiary and not created in contemplation of such event;

 

(e)           any Lien existing on any asset prior to the
acquisition thereof by the Company or a Subsidiary and not created in
contemplation of such acquisition;

 

(f)            any Lien arising out of the refinancing,
extension, renewal or refunding of any Debt secured by any Lien permitted by
any of the foregoing clauses of this Section; provided that such Debt is
not increased and is not secured by any additional assets;

 

(g)           any Lien arising pursuant to any order of
attachment, distraint or similar legal process arising in connection with court
proceedings so long as the execution or other enforcement thereof is
effectively stayed and the claims secured thereby are being contested in good
faith by appropriate proceedings; and

 

(h)           Liens not otherwise permitted by the
foregoing clauses of this Section securing Debt in aggregate principal
amount not to exceed 4% of the consolidated assets of the Company and its
Consolidated Subsidiaries at any time outstanding.

 

6.12.        Consolidations, Mergers and Sales of Assets.  The Company will not, and will not permit any
other Borrower to consolidate or merge with or into, or acquire substantially
all of the assets of, any other Person unless (a) in the case of a merger
or consolidation, the Company or such other Borrower shall be the surviving
entity, and (b) the board of directors (or similar governing body) of such
other Person shall have approved such consolidation, merger or
acquisition.  The Company will not permit
the sale, lease or other transfer to any other Person (other than to the
Company and its Subsidiaries and excluding sales, leases or other transfers in
the ordinary course of business) of assets of the Company or its Subsidiaries
(valued at net book value) exceeding 15% or more of the consolidated assets of
the Company and its Consolidated Subsidiaries as of the end of the immediately
preceding fiscal year of the Company.

 

6.13.        Transactions with Affiliates.  The Company will not, and will not permit any
Subsidiary to, enter into or permit to exist any transaction, arrangement or
contract with any of its Affiliates (other than the Company and its
Subsidiaries) which is on terms which are less favorable than are obtainable
from a Person which is not one of its Affiliates.

 

6.14.        Business.  The Company will not, and will not permit any
Subsidiary to, enter into any material business other than the businesses in
which the Company and its Subsidiaries are engaged on the date of this
Agreement and reasonable extensions thereof.

 

6.15.        Burdensome Agreements.  The Company will not, and will not permit any
Subsidiary to, enter into any agreement, instrument or other contractual
obligation (other than this Agreement or any other Loan Document) that (a) limits
the ability of any of its Subsidiaries to (i) pay dividends and other
distributions to the Company or otherwise transfer property to the Company; (ii) guarantee
any Debt of the Company or (iii) to create, incur, assume or suffer to
exist Liens in favor of the Administrative Agent, for the benefit of the
Lenders; or (b) requires the grant of a Lien to secure an obligation of
such Person if a Lien is granted to secure another obligation of such Person.

 

40

 

ARTICLE VII

DEFAULTS

 

The occurrence
of any one or more of the following events shall constitute a Default:

 

7.1.          Any representation or warranty made or deemed
made by or on behalf of the Company or any of its Subsidiaries to the Lenders
or the Administrative Agent under or in connection with this Agreement, any
Credit Extension, or any certificate or information delivered in connection
with this Agreement or any other Loan Document shall be materially false on the
date as of which made.

 

7.2.          Nonpayment of principal of any Loan when due,
nonpayment of any Reimbursement Obligation within one Business Day after the
same becomes due or nonpayment of interest upon any Loan or of any facility fee
or other obligation under any of the Loan Documents within five days after the
same becomes due.

 

7.3.          The breach by the Company of any of the terms
or provisions of Section 6.1(e) or Sections 6.9 through
6.15 (inclusive)

 

7.4.          The breach by any Borrower (other than a
breach which constitutes a Default under another Section of this Article VII)
of any of the terms or provisions of this Agreement which is not remedied
within 30 days after written notice thereof has been given to the Company by
the Administrative Agent at the request of any Lender.

 

7.5.          Failure by any Company or any Subsidiary to (i) pay
any Debt (other than the Loans) when due or interest thereon and such failure
shall continue for more than any applicable period of grace with respect
thereto, or (ii) observe or perform any term, covenant or agreement
contained in any agreement or instrument (other than this Agreement or any
other Loan Document) by which it is bound evidencing or securing or relating to
any Debt, if the effect thereof is to permit (or, with the giving of notice or
lapse of time or both, would permit) the holder or holders thereof or of any
obligations issued thereunder or a trustee or trustees acting on behalf of such
holder or holders to cause acceleration of the maturity thereof or of any such
obligation; provided that the aggregate amount of Debt with respect to
which any such event or condition shall have occurred shall equal or exceed
$10,000,000 (or the equivalent thereof in currencies other than Dollars).

 

7.6.          The Company, any other Borrower or any
Material Subsidiary shall commence a voluntary case or other proceeding seeking
liquidation, reorganization or other relief with respect to itself or its debts
under any bankruptcy, insolvency or other similar law now or hereafter in
effect or seeking the appointment of a trustee, receiver, liquidator, custodian
or other similar official of it or any substantial part of its property, or
shall consent to any such relief or to the appointment of or taking possession
by any such official in an involuntary case or other proceeding commenced
against it, or shall make a general assignment for the benefit of creditors, or
shall fail generally to pay its debts as they become due, or shall take any
corporate action to authorize any of the foregoing.

 

7.7.          An involuntary case or other proceeding shall
be commenced against the Company, any other Borrower or any Material Subsidiary
seeking liquidation, reorganization or 

 

41

 

other relief with respect to it
or its debts under any bankruptcy, insolvency or other similar law now or
hereafter in effect or seeking the appointment of a trustee, receiver,
liquidator, custodian or other similar official of it or any substantial part
of its property, and such involuntary case or other proceeding shall remain
undismissed and unstayed for a period of 60 days; or an order for relief shall
be entered against the Company, any other Borrower or any Material Subsidiary under
the federal bankruptcy laws as now or hereafter in effect.

 

7.8.          Any court, government or governmental agency
shall condemn, seize or otherwise appropriate, or take custody or control of,
all or any portion of the Property of the Company and its Subsidiaries which,
when taken together with all other Property of the Company and its Subsidiaries
so condemned, seized, appropriated, or taken custody or control of, during the
twelve-month period ending with the month in which any such action occurs,
constitutes a Substantial Portion.

 

7.9.          The Company or any of its Subsidiaries shall
fail within 30 days to pay, bond or otherwise discharge one or more (i) final
judgments or orders for the payment of money in excess of $10,000,000 (or the
equivalent thereof in currencies other than Dollars) in the aggregate, or (ii) nonmonetary
final judgments or orders which, individually or in the aggregate, could
reasonably be expected to have a Material Adverse Effect, which judgment(s), in
any such case, is/are not stayed on appeal or otherwise being appropriately
contested in good faith.

 

7.10.        The Company or any other member of the
Controlled Group shall fail to pay when due any amount or amounts aggregating
in excess of $5,000,000 which it shall have become liable to pay to the PBGC or
to a Plan under Title IV of ERISA; or notice of intent to terminate a Plan or
Plans having aggregate Unfunded Vested Liabilities in excess of $5,000,000
shall be filed under Title IV of ERISA by any member of the Controlled Group,
any plan administrator or any combination of the foregoing; or the PBGC shall
institute proceedings under Title IV of ERISA to terminate or to cause a
trustee to be appointed to administer any Plan or Plans having aggregate
Unfunded Vested Liabilities in excess of $5,000,000 or a proceeding shall be
instituted by a fiduciary of any Plan against any member of the Controlled
Group to enforce Section 515 of ERISA with respect to any amount or
amounts aggregating in excess of $5,000,000 and such proceeding shall not have
been dismissed within 30 days thereafter; or a condition shall exist by reason
of which the PBGC would be entitled to obtain a decree adjudicating that any
Plan or Plans having aggregated Unfunded Vested Liabilities in excess of
$5,000,000 must be terminated.

 

7.11.        Any Change in Control shall occur.

 

7.12.        The occurrence of any “default”, as defined in
any Loan Document (other than this Agreement) or the breach of any of the terms
or provisions of any Loan Document (other than this Agreement), which default
or breach continues beyond any period of grace therein provided.

 

7.13.        Any Loan Document shall fail to remain in full
force or effect or any action shall be taken to discontinue or to assert the
invalidity or unenforceability of any Loan Document, or the Company or any
other Borrower shall fail to comply with any of the terms or provisions of any
Loan Document to which it is a party, or the Company or any other Borrower
shall deny that 

 

42

 

it has any further liability
under any Loan Document to which it is a party, or shall give notice to such
effect.

 

ARTICLE VIII

ACCELERATION, WAIVERS, AMENDMENTS AND REMEDIES

 

8.1.          Acceleration.  If any Default described in Section 7.6
or 7.7 occurs with respect to any Borrower, the obligations of the
Lenders to make Loans hereunder and the obligation and power of the Issuers to
issue Letters of Credit shall automatically terminate and the Obligations shall
immediately become due and payable without any election or action on the part
of the Administrative Agent, any Lender or any Issuer and each Borrower will be
and become thereby unconditionally obligated, without any further notice, act
or demand, to pay to the Administrative Agent an amount in immediately
available funds, which funds shall be held in the applicable LC Collateral
Account, equal to the excess of the amount of Letter of Credit Obligations of
such Borrower at such time over the amount on deposit in such LC Collateral
Account at such time which is free and clear of all rights and claims of third
parties and has not been applied against the Obligations (such difference, the “Collateral
Shortfall Amount”).  If any other
Default occurs, the Administrative Agent may with the consent, or shall at the
request, of the Required Lenders, (x) terminate or suspend the obligations
of the Lenders to make Loans hereunder and the obligation and power of the
Issuer to issue Letters of Credit, or declare the Obligations to be due and
payable, or both, whereupon the Obligations shall become immediately due and
payable, without presentment, demand, protest or notice of any kind, all of
which each Borrower hereby expressly waives, and (y) upon notice to the
Company and in addition to the continuing right to demand payment of all amounts
payable under this Agreement, make demand on the Borrowers to pay, and each
applicable Borrower will, forthwith upon such demand and without any further
notice or act, pay to the Administrative Agent in immediately available funds
the Collateral Shortfall Amount for such Borrower, which funds shall be
deposited in the applicable LC Collateral Account.

 

If, within 30
days after acceleration of the maturity of the Obligations or termination of
the obligations of the Lenders to make Loans hereunder as a result of any
Default (other than any Default as described in Section 7.6 or 7.7
with respect to any Borrower) and before any judgment or decree for the payment
of the Obligations due shall have been obtained or entered, the Required
Lenders (in their sole discretion) shall so direct, the Administrative Agent
shall, by notice to the Borrowers, rescind and annul such acceleration and/or
termination.

 

8.2.          Amendments.  Subject to the provisions of this Section 8.2,
the Required Lenders (or the Administrative Agent with the consent in writing
of the Required Lenders) and the Borrowers may enter into agreements
supplemental hereto for the purpose of adding or modifying any provisions to
the Loan Documents or changing in any manner the rights of the Lenders or the
Borrowers hereunder or waiving any Default hereunder; provided that no
such supplemental agreement shall:

 

(a)           without the consent of each Lender affected
thereby, (i) extend the final maturity of any Loan or forgive all or any
portion of the principal amount thereof, or reduce the rate or extend the time
of payment of interest or fees thereon, (ii) reduce the amount or extend
the 

 

43

 

payment date for, the mandatory
payments required under Section 2.2 or (iii) increase the
amount of the Commitment of any Lender hereunder; and

 

(b)           without the consent of all of the Lenders, (i) reduce
the percentage specified in the definition of Required Lenders, (ii) permit
any Borrower to assign its rights under this Agreement, (iii) amend this Section 8.2
or (iv) release the Company from its obligations under Article XV
of this Agreement.

 

No amendment
of any provision of this Agreement relating to the Administrative Agent shall
be effective without the written consent of the Administrative Agent, and no
amendment of any provision of this Agreement relating to any Issuer shall be
effective without the written consent of such Issuer.  The Administrative Agent may waive payment of
the fee required under Section 12.1(b)  without obtaining the
consent of any other party to this Agreement.

 

8.3.          Preservation of Rights.  No delay or omission of the Lenders, the
Issuers or the Administrative Agent to exercise any right under the Loan
Documents shall impair such right or be construed to be a waiver of any Default
or an acquiescence therein, and the making of a Credit Extension
notwithstanding the existence of a Default or the inability of the Borrowers to
satisfy the conditions precedent to such Credit Extension shall not constitute
any waiver or acquiescence.  Any single
or partial exercise of any such right shall not preclude other or further
exercise thereof or the exercise of any other right, and no waiver, amendment
or other variation of the terms, conditions or provisions of the Loan Documents
whatsoever shall be valid unless in writing signed by the Lenders required
pursuant to Section 8.2, and then only to the extent in such
writing specifically set forth.  All
remedies contained in the Loan Documents or by law afforded shall be cumulative
and all shall be available to the Administrative Agent, the Lenders and the
Issuers until the Obligations have been paid in full.

 

ARTICLE IX

GENERAL PROVISIONS

 

9.1.          Survival of Representations.  All representations and warranties of the Borrowers
contained in this Agreement shall survive the making of the Credit Extensions
herein contemplated.

 

9.2.          Governmental Regulation.  Anything contained in this Agreement to the
contrary notwithstanding, no Lender shall be obligated to extend credit to the
Borrowers in violation of any limitation or prohibition provided by any
applicable statute or regulation.

 

9.3.          Headings.  Section headings in the Loan Documents
are for convenience of reference only, and shall not govern the interpretation
of any of the provisions of the Loan Documents.

 

9.4.          Entire Agreement.  The Loan Documents embody the entire
agreement and understanding among the Borrowers, the Administrative Agent, the
Lenders and the Issuers and supersede all prior agreements and understandings
among the Borrowers, the Administrative Agent, the Lenders and the Issuers
relating to the subject matter thereof other than those contained in the fee
letter described in Section 10.13 which shall survive and remain in
full force and effect during the term of this Agreement.

 

44

 

9.5.          Several Obligations; Benefits of this
Agreement.  The respective
obligations of the Lenders hereunder are several and not joint and no Lender
shall be the partner or agent of any other (except to the extent to which the
Administrative Agent is authorized to act as such).  The failure of any Lender to perform any of
its obligations hereunder shall not relieve any other Lender from any of its
obligations hereunder.  This Agreement
shall not be construed so as to confer any right or benefit upon any Person
other than the parties to this Agreement and their respective successors and
assigns; provided that the parties hereto expressly agree that the
Arranger shall enjoy the benefits of the provisions of Sections 9.6, 9.10
and 10.8 to the extent specifically set forth therein and shall have the
right to enforce such provisions on its own behalf and in its own name to the
same extent as if it were a party to this Agreement.

 

9.6.          Expenses; Indemnification.  (a)  The Borrowers shall jointly and
severally reimburse the Administrative Agent and JPMorgan for any costs,
internal charges and out-of-pocket expenses (including attorneys’ fees and time
charges of attorneys for the Administrative Agent, which attorneys may be
employees of the Administrative Agent) paid or incurred by the Administrative
Agent or JPMorgan in connection with the preparation, negotiation, execution,
delivery, syndication, distribution (including via the internet), review,
amendment, modification, and administration of the Loan Documents.  The Borrowers also jointly and severally
agree to reimburse the Administrative Agent, the Arrangers, the Lenders and the
Issuers for any costs, internal charges and out-of-pocket expenses (including
attorneys’ fees and time charges of attorneys for the Administrative Agent, the
Arrangers, the Lenders and the Issuers, which attorneys may be employees of the
Administrative Agent, the Arrangers, the Lenders or the Issuers) paid or
incurred by the Administrative Agent, either Arranger, any Lender or any Issuer
in connection with the collection and enforcement of the Loan Documents.  Expenses being reimbursed by the Borrowers
under this Section include costs and expenses incurred in connection with
the Reports described in the following sentence.  The Borrowers acknowledge that from time to
time JPMCB may prepare and may distribute to the Lenders (but shall have no
obligation or duty to prepare or to distribute to the Lenders) certain audit reports
(the “Reports”) pertaining to the Borrowers’ assets for internal use by
JPMCB from information furnished to it by or on behalf of the Borrowers, after
JPMCB has exercised its rights of inspection pursuant to this Agreement.

 

(b)           The Borrowers hereby further jointly and
severally agree to indemnify the Administrative Agent, each Arranger, each
Lender and each Issuer and their respective affiliates, and each of their
Related Parties against all losses, claims, damages, penalties, judgments,
liabilities and expenses (including all expenses of litigation or preparation
therefor whether or not the Administrative Agent, either Arranger, any Lender,
any Issuer or any affiliate is a party thereto) which any of them may pay or
incur arising out of or relating to this Agreement, the other Loan Documents,
the transactions contemplated hereby or the direct or indirect application or
proposed application of the proceeds of any Credit Extension hereunder except
to the extent that they are determined in a final non-appealable judgment by a
court of competent jurisdiction to have resulted from the gross negligence or
willful misconduct of the party seeking indemnification.   The obligations of the Borrowers under this Section 9.6
shall survive the termination of this Agreement.

 

45

 

9.7.          Numbers of Documents.  All statements, notices, closing documents,
and requests hereunder shall be furnished to the Administrative Agent with
sufficient counterparts so that the Administrative Agent may furnish one to
each of the Lenders.

 

9.8.          Accounting.  Except as provided to the contrary herein,
all accounting terms used herein shall be interpreted and all accounting
determinations hereunder shall be made in accordance with GAAP in a manner
consistent with that used in preparing the financial statements referred to in Section 5.4.  If at any time any
change in GAAP would affect the computation of any financial ratio or
requirement set forth in any Loan Document, and the Company, the Administrative
Agent or the Required Lenders shall so request, the Administrative Agent, the
Lenders and the Borrowers shall negotiate in good faith to amend such ratio or
requirement to preserve the original intent thereof in light of such change in
GAAP (subject to the approval of the Required Lenders); provided  that, until so amended, such ratio or requirement shall
continue to be computed in accordance with GAAP prior to such change therein
and the Company shall provide to the Administrative Agent and the Lenders
reconciliation statements showing the difference in such calculation, together
with the delivery of monthly, quarterly and annual financial statements
required hereunder.

 

9.9.          Severability of Provisions.  Any provision in any Loan Document that is held
to be inoperative, unenforceable, or invalid in any jurisdiction shall, as to
that jurisdiction, be inoperative, unenforceable, or invalid without affecting
the remaining provisions in that jurisdiction or the operation, enforceability,
or validity of that provision in any other jurisdiction, and to this end the
provisions of all Loan Documents are declared to be severable.

 

9.10.        Nonliability of Lenders.  The relationship between the Borrowers on the
one hand and the Lenders, the Issuers and the Administrative Agent on the other
hand shall be solely that of borrowers and lender.  Neither the Administrative Agent, either
Arranger, any Lender nor any Issuer shall have any fiduciary responsibilities
to the Borrowers.  Neither the
Administrative Agent, either Arranger, any Lender nor any Issuer undertakes any
responsibility to any Borrower to review or inform any Borrower of any matter
in connection with any phase of any Borrower’s business or operations.  Each Borrower agrees that neither the
Administrative Agent, either Arranger, any Lender nor any Issuer shall have
liability to such Borrower (whether sounding in tort, contract or otherwise)
for losses suffered by such Borrower in connection with, arising out of, or in
any way related to, the transactions contemplated and the relationship
established by the Loan Documents, or any act, omission or event occurring in
connection therewith, unless it is determined in a final non-appealable
judgment by a court of competent jurisdiction that such losses resulted from
the gross negligence or willful misconduct of the party from which recovery is
sought.  Neither the Administrative
Agent, either Arranger, any Lender nor any Issuer shall have any liability with
respect to, and each Borrower hereby waives, releases and agrees not to sue
for, any special, indirect, consequential or punitive damages suffered by such
Borrower in connection with, arising out of, or in any way related to the Loan
Documents or the transactions contemplated thereby.

 

9.11.        Confidentiality.  Each Lender agrees to hold any confidential
information which it may receive from the Company pursuant to this Agreement in
confidence, except for disclosure (i) to its Affiliates and to other
Lenders and their respective Affiliates, (ii) to legal counsel, accountants,
and other professional advisors to such Lender or to a Transferee, (iii) to
regulatory 

 

46

 

officials, (iv) to any
Person as requested pursuant to or as required by law, regulation, or legal process,
(v) to any Person in connection with any legal proceeding to which such
Lender is a party, (vi) to such Lender’s direct or indirect contractual
counterparties in swap agreements or to legal counsel, accountants and other
professional advisors to such counterparties, (vii) permitted by Section 12.2
and (viii) to rating agencies if requested or required by such agencies in
connection with a rating relating to the Advances hereunder.

 

9.12.        Nonreliance.  Each Lender hereby represents that it is not
relying on or looking to any margin stock (as defined in Regulation U) for the
repayment of the Loans provided for herein.

 

9.13.        Disclosure.  The Borrowers and each Lender hereby
acknowledge and agree that JPMCB and/or its Affiliates from time to time may
hold investments in, make other loans to or have other relationships with the
Borrowers and their Affiliates.

 

9.14.        USA PATRIOT ACT NOTIFICATION.  Each Lender hereby notifies the Borrowers
that pursuant to requirements of the USA Patriot Act, such Lender is required
to obtain, verify and record information that identifies each Borrower, which
information includes the name and address of such Borrower and other
information that will allow such Bank to identify such Borrower in accordance
with the USA Patriot Act.

 

47

 

ARTICLE X

THE ADMINISTRATIVE AGENT

 

10.1.        Appointment; Nature of Relationship.  (a)  JPMCB is hereby appointed by each
of the Lenders as its contractual representative (herein referred to as the “Administrative
Agent”) hereunder and under each other Loan Document, and each of the Lenders
irrevocably authorizes the Administrative Agent to act as the contractual
representative of such Lender with the rights and duties expressly set forth
herein and in the other Loan Documents. 
The Administrative Agent agrees to act as such contractual
representative upon the express conditions contained in this Article X.  Notwithstanding the use of the defined term “Administrative
Agent,” it is expressly understood and agreed that the Administrative Agent
shall not have any fiduciary responsibilities to any Lender by reason of this
Agreement or any other Loan Document and that the Administrative Agent is
merely acting as the contractual representative of the Lenders with only those
duties as are expressly set forth in this Agreement and the other Loan
Documents.  In its capacity as the
Lenders’ contractual representative, the Administrative Agent (i) does not
hereby assume any fiduciary duties to any of the Lenders, (ii) is a “representative”
of the Lenders within the meaning of the term “secured party” as defined in the
Illinois Uniform Commercial Code and (iii) is acting as an independent
contractor, the rights and duties of which are limited to those expressly set
forth in this Agreement and the other Loan Documents.  Each of the Lenders hereby agrees to assert
no claim against the Administrative Agent on any agency theory or any other
theory of liability for breach of fiduciary duty, all of which claims each
Lender hereby waives.

 

(b)           Each Issuer shall act on behalf of the
Lenders with respect to any Letter of Credit issued by it and the documents
associated therewith.  Each Issuer shall
have all of the benefits and immunities provided to the Administrative Agent in
this Article X with respect to any acts taken or omissions suffered
by the Issuer in connection with Letters of Credit issued by it or proposed to
be issued by it and the applications and agreements for letters of credit
pertaining to such Letters of Credit as fully as if the term “Administrative
Agent”, as used in this Article X, included such Issuer with
respect to such acts or omissions and as additionally provided in this
Agreement with respect to such Issuer.

 

10.2.        Powers. 
The Administrative Agent shall have and may exercise such powers under
the Loan Documents as are specifically delegated to the Administrative Agent by
the terms of each thereof, together with such powers as are reasonably
incidental thereto.  The Administrative
Agent shall have no implied duties to the Lenders, or any obligation to the
Lenders to take any action thereunder except any action specifically provided
by the Loan Documents to be taken by the Administrative Agent.

 

10.3.        General Immunity.  Neither the Administrative Agent nor any of
its Related Parties shall be liable to any Borrower, the Lenders or any Lender
for any action taken or omitted to be taken by it or them hereunder or under
any other Loan Document or in connection herewith or therewith except to the
extent such action or inaction is determined in a final non-appealable judgment
by a court of competent jurisdiction to have arisen from the gross negligence
or willful misconduct of such Person.

 

48

 

10.4.        No Responsibility for Loans, Recitals, etc.  Neither the Administrative Agent nor any of
its Related Parties shall be responsible for or have any duty to ascertain,
inquire into, or verify (a) any statement, warranty or representation made
in connection with any Loan Document or any borrowing hereunder; (b) the
performance or observance of any of the covenants or agreements of any obligor
under any Loan Document, including any agreement by an obligor to furnish
information directly to each Lender; (c) the satisfaction of any condition
specified in Article IV, except receipt of items required to be
delivered solely to the Administrative Agent; (d) the existence or
possible existence of any Default or Unmatured Default; (e) the validity,
enforceability, effectiveness, sufficiency or genuineness of any Loan Document
or any other instrument or writing furnished in connection therewith; (f) the
value, sufficiency, creation, perfection or priority of any Lien in any
collateral security; or (g) the financial condition of any Borrower or any
guarantor of any of the Obligations or of any of such Borrower’s or any such
guarantor’s respective Subsidiaries.

 

10.5.        Action on Instructions of Lenders.  The Administrative Agent shall in all cases
be fully protected in acting, or in refraining from acting, hereunder and under
any other Loan Document in accordance with written instructions signed by the
Required Lenders, and such instructions and any action taken or failure to act
pursuant thereto shall be binding on all of the Lenders.  The Lenders hereby acknowledge that the
Administrative Agent shall be under no duty to take any discretionary action
permitted to be taken by it pursuant to the provisions of this Agreement or any
other Loan Document unless it shall be requested in writing to do so by the
Required Lenders.  The Administrative
Agent shall be fully justified in failing or refusing to take any action
hereunder and under any other Loan Document unless it shall first be
indemnified to its satisfaction by the Lenders pro rata against any and all
liability, cost and expense that it may incur by reason of taking or continuing
to take any such action.

 

10.6.        Employment of Agents and Counsel.  The Administrative Agent may execute any of
its duties as Agent hereunder and under any other Loan Document by or through
employees, agents, and attorneys-in-fact and shall not be answerable to the
Lenders, except as to money or securities received by it or its authorized
agents, for the default or misconduct of any such agents or attorneys-in-fact
selected by it with reasonable care.  The
Administrative Agent shall be entitled to advice of counsel concerning the
contractual arrangement between the Administrative Agent and the Lenders and
all matters pertaining to the Administrative Agent’s duties hereunder and under
any other Loan Document.

 

10.7.        Reliance on Documents; Counsel.  The Administrative Agent shall be entitled to
rely upon any notice, consent, certificate, affidavit, letter, telegram,
facsimile, telex, electronic mail message, statement, paper or document
believed by it to be genuine and correct and to have been signed or sent by the
proper person or persons, and, in respect to legal matters, upon the opinion of
counsel selected by the Administrative Agent, which counsel may be employees of
the Administrative Agent.  For purposes
of determining compliance with the conditions specified in Sections 4.1
and 4.2, each Lender that has signed this Agreement shall be deemed to
have consented to, approved or accepted or to be satisfied with, each document
or other matter required thereunder to be consented to or approved by or
acceptable or satisfactory to a Lender unless the Administrative Agent shall
have received notice from such Lender prior to the applicable date specifying
its objection thereto.

 

49

 

10.8.        Agent’s Reimbursement and Indemnification.  The Lenders agree to reimburse and indemnify
the Administrative Agent ratably in accordance with their Pro Rata Shares (i) for
any amounts not reimbursed by the Borrowers for which the Administrative Agent
is entitled to reimbursement by the Borrowers under the Loan Documents, (ii) for
any other expenses incurred by the Administrative Agent on behalf of the
Lenders, in connection with the preparation, execution, delivery,
administration and enforcement of the Loan Documents (including for any
expenses incurred by the Administrative Agent in connection with any dispute
between the Administrative Agent and any Lender or between two or more of the
Lenders) and (iii) for any liabilities, obligations, losses, damages,
penalties, actions, judgments, suits, costs, expenses or disbursements of any
kind and nature whatsoever which may be imposed on, incurred by or asserted
against the Administrative Agent in any way relating to or arising out of the
Loan Documents or any other document delivered in connection therewith or the
transactions contemplated thereby (including for any such amounts incurred by
or asserted against the Administrative Agent in connection with any dispute
between the Administrative Agent and any Lender or between two or more of the
Lenders), or the enforcement of any of the terms of the Loan Documents or of
any such other documents; provided that (i) no Lender shall be
liable for any of the foregoing to the extent any of the foregoing is found in
a final non-appealable judgment by a court of competent jurisdiction to have
resulted from the gross negligence or willful misconduct of the Administrative
Agent and (ii) any indemnification required pursuant to Section 3.4(g) shall,
notwithstanding the provisions of this Section 10.8, be paid by the
relevant Lender in accordance with the provisions thereof.  The obligations of the Lenders under this Section 10.8
shall survive payment of the Obligations and termination of this Agreement.

 

10.9.        Notice of Default.  The Administrative Agent shall not be deemed
to have knowledge or notice of the occurrence of any Default or Unmatured
Default hereunder unless the Administrative Agent has received written notice
from a Lender or the Company referring to this Agreement describing such
Default or Unmatured Default and stating that such notice is a “notice of
default”.  If the Administrative Agent
receives such a notice, the Administrative Agent shall give prompt notice
thereof to the Lenders.

 

10.10.      Rights as a Lender.  If the Administrative Agent is a Lender, the
Administrative Agent shall have the same rights and powers hereunder and under
any other Loan Document with respect to its Commitment and its Loans as any
Lender and may exercise the same as though it were not the Administrative
Agent, and the term “Lender” or “Lenders” shall, at any time when the
Administrative Agent is a Lender, unless the context otherwise indicates,
include the Administrative Agent in its individual capacity.  The Administrative Agent and its Affiliates
may accept deposits from, lend money to, and generally engage in any kind of
trust, debt, equity or other transaction, in addition to those contemplated by
this Agreement or any other Loan Document, with the Company or any of its
Subsidiaries in which the Company or such Subsidiary is not restricted hereby
from engaging with any other Person.  The
Administrative Agent, in its individual capacity, is not obligated to remain a
Lender.

 

10.11.      Lender Credit Decision.  Each Lender acknowledges that it has,
independently and without reliance upon the Administrative Agent, either
Arranger, any other Lender or any Issuer and based on the financial statements
prepared by the Company and such other documents and information as it has
deemed appropriate, made its own credit analysis and decision to enter into
this Agreement and the other Loan Documents. 
Each Lender also acknowledges that it will, 

 

50

 

independently and without reliance upon the Administrative Agent,
either Arranger, any other Lender or any Issuer and based on such documents and
information as it shall deem appropriate at the time, continue to make its own
credit decisions in taking or not taking action under this Agreement and the other
Loan Documents. Except for any notice, report, document or other information
expressly required to be furnished to the Lenders by the Administrative Agent
or an Arranger hereunder, neither the Administrative Agent nor either Arranger
shall have any duty or responsibility (either initially or on a continuing
basis) to provide any Lender with any notice, report, document, credit
information or other information concerning the affairs, financial condition or
business of the Company or any of its Affiliates that may come into the
possession of the Administrative Agent or either Arranger (whether or not in
their respective capacity as Administrative Agent or an Arranger) or any of
their Affiliates.

 

10.12.      Successor Agent.  The Administrative Agent may resign at any
time by giving written notice thereof to the Lenders and the Company, such
resignation to be effective upon the appointment of a successor Administrative
Agent or, if no successor Administrative Agent has been appointed, forty-five
days after the retiring Administrative Agent gives notice of its intention to
resign.  The Administrative Agent may be
removed at any time with or without cause by written notice received by the
Administrative Agent from the Required Lenders, such removal to be effective on
the date specified by the Required Lenders; provided that the
Administrative Agent may not be removed unless the Administrative Agent (in its
individual capacity) and any affiliate thereof acting as an Issuer is relieved
of all of its duties as an Issuer pursuant to documentation reasonably
satisfactory to such Person on or prior to the date of such removal.  Upon any such resignation or removal, the
Required Lenders shall have the right to appoint, on behalf of the Borrower and
the Lenders, a successor Administrative Agent. 
If no successor Administrative Agent shall have been so appointed by the
Required Lenders within thirty days after the resigning Agent’s giving notice
of its intention to resign, then the resigning Agent may appoint, on behalf of
the Borrowers and the Lenders, a successor Administrative Agent.  Notwithstanding the previous sentence, the
Administrative Agent may at any time without the consent of any Borrower or any
Lender, appoint any of its Affiliates which is a commercial bank as a successor
Administrative Agent hereunder.  If the
Administrative Agent has resigned or been removed and no successor
Administrative Agent has been appointed, the Lenders may perform all the duties
of the Administrative Agent hereunder and the Borrowers shall make all payments
in respect of the Obligations to the applicable Lender and for all other
purposes shall deal directly with the Lenders. 
No successor Administrative Agent shall be deemed to be appointed
hereunder until such successor Administrative Agent has accepted the
appointment.  Any such successor
Administrative Agent shall be a commercial bank having capital and retained
earnings of at least $100,000,000.  Upon
the acceptance of any appointment as Administrative Agent hereunder by a
successor Administrative Agent, such successor Administrative Agent shall
thereupon succeed to and become vested with all the rights, powers, privileges
and duties of the resigning or removed Administrative Agent.  Upon the effectiveness of the resignation or
removal of the Administrative Agent, the resigning or removed Administrative
Agent shall be discharged from its duties and obligations hereunder and under
the Loan Documents.  After the
effectiveness of the resignation or removal of an Administrative Agent, the provisions
of this Article X shall continue in effect for the benefit of such
Administrative Agent in respect of any actions taken or omitted to be taken by
it while it was acting as the Administrative Agent hereunder and under the
other Loan Documents.  In the event that
there is a successor to the Administrative Agent by merger, or the
Administrative Agent 

 

51

 

assigns its duties and obligations to an Affiliate pursuant to this Section 10.12,
then the term “Prime Rate” as used in this Agreement shall mean the prime rate,
base rate or other analogous rate of the new Administrative Agent.

 

10.13.      Agent and Arranger Fees.  The Borrowers jointly and severally agree to
pay to the Administrative Agent and the Arranger, for their respective
accounts, the fees agreed to by the Borrowers, the Administrative Agent and the
Arranger pursuant to that certain letter agreement dated March 26, 2008,
or as otherwise agreed from time to time.

 

10.14.      Delegation to Affiliates.  The Borrowers and the Lenders agree that the
Administrative Agent may delegate any of its duties under this Agreement to any
of its Affiliates.  Any such Affiliate
(and such Affiliate’s Related Parties) which performs duties in connection with
this Agreement shall be entitled to the same benefits of the indemnification,
waiver and other protective provisions to which the Administrative Agent is
entitled under Article IX and this Article X.

 

10.15.      Other Agents.  No Lender identified in this Agreement as the
Syndication Agent or a Co-Documentation Agent 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 such Lenders shall have or be
deemed to have a fiduciary relationship with any Lender.  Each Lender hereby makes the same
acknowledgments with respect to such Lenders as it makes with respect to the
Administrative Agent in Section 10.11.

 

ARTICLE XI

SETOFF; RATABLE PAYMENTS

 

11.1.        Setoff. 
In addition to, and without limitation of, any rights of the Lenders
under applicable law, if a Borrower becomes insolvent, however evidenced, or
any Default occurs, any and all deposits (including all account balances,
whether provisional or final and whether or not collected or available) and any
other Indebtedness at any time held or owing by any Lender or any Affiliate of
any Lender to or for the credit or account of such Borrower may, with the prior
consent of the Administrative Agent, be offset and applied toward the payment
of the Obligations owing to such Lender, whether or not the Obligations, or any
part thereof, shall then be due.

 

11.2.        Sharing of Payments.  (a)  If any Lender shall obtain any
payment or other recovery (whether voluntary, involuntary, through the exercise
of any right of set-off or otherwise) on account of principal of or interest on
the Loans or the Reimbursement Obligations owed to it by any Borrower in excess
of its Pro Rata Share or BSub Percentage, respectively, of all payments and
other recoveries obtained by all Lenders or the applicable BSub Lenders, as the
case may be, on account of principal of and interest on such Loans or
Reimbursement Obligations, then such Lender shall immediately (a) notify
the Administrative Agent and the other applicable Lenders of such fact and (b) purchase
such participations in the Loans and Reimbursement Obligations of the other
Lenders to such Borrower as shall be necessary to cause such purchasing Lender
to share the excess payment or other recovery pro rata with such other Lenders
in accordance with their Pro Rata Shares or BSub Percentages, as applicable; provided
that if all or any portion of such excess payment or other recovery is
thereafter recovered from 

 

52

 

the purchasing Lender, such purchase shall to that extent be rescinded
and each other applicable Lender shall repay to the purchasing Lender the
purchase price paid therefor, together with an amount equal to such paying Lender’s
ratable share (according to the proportion of (i) the amount of such
paying Lender’s required repayment to (ii) the total amount so recovered
from the purchasing Lender) of any interest or other amount paid or payable by
the purchasing Lender in respect of the total amount so recovered.

 

(b)           Each Borrower agrees
that any Lender purchasing a participation from another Lender pursuant to this
Section 11.2 may, to the fullest extent permitted by law, exercise
all its rights of payment (including the right of set-off) with respect to such
participation as fully as if such Lender were a direct creditor of such
Borrower in the amount of such participation. 
The Administrative Agent will keep records (which shall be conclusive
and binding in the absence of manifest error) of participations purchased under
this Section 11.2.

 

ARTICLE XII

ASSIGNMENTS; PARTICIPATIONS; ETC.

 

12.1.        Successors and Assigns.  (a)The provisions of this Agreement shall be
binding upon and inure to the benefit of the parties hereto and their
respective successors and assigns permitted hereby (including any Affiliate of
an Issuer that issues any Letter of Credit), except that (i) no Borrower
may assign or otherwise transfer any of its rights or obligations hereunder
without the prior written consent of each Lender (and any attempted assignment
or transfer by any Borrower without such consent shall be null and void) and (ii) no
Lender may assign or otherwise transfer its rights or obligations hereunder
except in accordance with this Section. 
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 (including any Affiliate of an Issuer
that issues any Letter of Credit), Participants (to the extent provided in clause
(c) below) and, to the extent expressly contemplated hereby, the
Related Parties of each of the Administrative Agent, the Issuers and the
Lenders) any legal or equitable right, remedy or claim under or by reason of
this Agreement.

 

(b)           (i) Subject to the conditions set forth
in clause (ii) below, any Lender may assign to one or more
assignees all or a portion of its rights and obligations under this Agreement
(including all or a portion of its Commitments and the Loans at the time owing
to it) with the prior written consent (such consent not to be unreasonably
withheld) of:

 

(A)          the
Company, provided that no consent of the Company shall be required for
an assignment to a Lender or an Affiliate of a Lender or, if a Default has
occurred and is continuing,  any other
assignee;

 

(B)           the
Administrative Agent; and

 

(C)           the Issuers.

 

(ii)           Assignments shall be
subject to the following additional conditions:

 

(A)          except
in the case of an assignment to a Lender or an Affiliate of a Lender or an
assignment of the entire remaining amount of the assigning Lender’s 

 

53

 

Commitments or
Loans, the amount of the 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 unless each of the Company and the
Administrative Agent otherwise consent, provided that no such consent of
the Company shall be required if a Default has occurred and is continuing;

 

(B)           each
partial assignment shall be made as an assignment of a proportionate part of
all the assigning Lender’s rights and obligations under this Agreement, provided
that this clause shall not be construed to prohibit the assignment of a
proportionate part of all the assigning Lender’s rights and obligations in
respect of its other Commitment, if any (or Loans made thereunder);

 

(C)           the
parties to each assignment shall execute and deliver to the Administrative
Agent an Assignment and Assumption, together with a processing and recordation
fee of $3,500;

 

(D)          the
assignee, if it shall not be a Lender, shall deliver to the Administrative
Agent an Administrative Questionnaire; and

 

(E)           no
such assignment shall be made to the Company or any of the Company’s
Subsidiaries or other Affiliates.

 

(iii)          Subject
to acceptance and recording thereof pursuant to clause (iv) below,
from and after the effective date specified in each Assignment and Assumption
the assignee thereunder shall be a party hereto and, to the extent of the
interest assigned by such Assignment and Assumption, have the rights and
obligations of a Lender under this Agreement, and the assigning Lender thereunder
shall, to the extent of the interest assigned by such Assignment and
Assumption, be released from its obligations under this Agreement (and, in the
case of an Assignment and Assumption covering all of the assigning Lender’s
rights and obligations under this Agreement, such Lender shall cease to be a
party hereto but shall continue to be entitled to the benefits of Sections
3.1, 3.3, 3.4, 9.6 and 9.10).  Any assignment or transfer by a Lender of
rights or obligations under this Agreement that does not comply with this clause
(b) 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 clause
(c) of this Section.

 

(iv)          The
Administrative Agent, acting for this purpose as an agent of the Borrowers,
shall maintain at one of its offices a copy of each Assignment and Assumption
delivered to it and a register for the recordation of the names and addresses
of the Lenders, and the Commitments of, and principal amount of the Loans and
Letter of Credit Obligations owing to, each Lender pursuant to the terms hereof
from time to time (the “Register”). 
The entries in the Register shall be conclusive, and the Borrowers, the
Administrative Agent, the Issuers and the Lenders may treat each Person whose
name is recorded in the Register pursuant to the terms hereof as a Lender
hereunder for all 

 

54

 

purposes of
this Agreement, notwithstanding notice to the contrary.  The Register shall be available for
inspection by the Company or any Lender, at any reasonable time and from time
to time upon reasonable prior notice.

 

(v)           Upon
its receipt of a duly completed Assignment and Assumption executed by an
assigning Lender and an assignee, the assignee’s completed Administrative
Questionnaire (unless the assignee shall already be a Lender hereunder), the
processing and recordation fee referred to in clause (b) of this Section and
any written consent to such assignment required by clause (b) of
this Section, the Administrative Agent shall accept such Assignment and
Assumption and record the information contained therein in the Register; provided
that if either the assigning Lender or the assignee shall have failed to make
any payment required to be made by it pursuant to Section 2.10(b), 2.18(e),
2.24, 10.8 or 11.2(b), the Administrative Agent shall have
no obligation to accept such Assignment and Assumption and record the
information therein in the Register unless and until such payment shall have been
made in full, together with all accrued interest thereon.  No assignment shall be effective for purposes
of this Agreement unless it has been recorded in the Register as provided in
this clause.

 

(c)(i)  Any Lender may, without the
consent of the Borrower, the Administrative Agent, the Issuers or the other
Lenders, sell participations to one or more banks or other entities (other than
the Company or any of the Company’s Subsidiaries or other Affiliates) (a “Participant”)
in all or a portion of such Lender’s rights and obligations under this
Agreement (including all or a portion of its Commitments and the Loans owing to
it); provided that (A) such Lender’s obligations under this
Agreement shall remain unchanged, (B) such Lender shall remain solely
responsible to the other parties hereto for the performance of such obligations
and (C) the Borrowers, the Administrative Agent, the Issuers and the other
Lenders shall continue to deal solely and directly with such Lender in
connection with such Lender’s rights and obligations under this Agreement.  Any agreement or instrument pursuant to which
a Lender sells such a participation shall provide that such Lender shall retain
the sole right to enforce this Agreement and to approve any amendment,
modification or waiver of any provision of this Agreement; provided that
such agreement or instrument may provide that such Lender will not, without the
consent of the Participant, agree to any amendment, modification or waiver
described in the first proviso to clause (b) that affects such
Participant.  Subject to clause
(c)(ii), each Borrower agrees that each Participant shall be entitled to
the benefits of Sections 3.1, 3.3, 3.4, 9.6 and 9.10
to the same extent as if it were a Lender and had acquired its interest by
assignment pursuant to clause (b) of this Section.  To the extent permitted by law, each
Participant also shall be entitled to the benefits of Section 11.1
as though it were a Lender, provided such Participant agrees to be
subject to Section 11.2 as though it were a Lender.

 

(ii)           A
Participant shall not be entitled to receive any greater payment under Section 3.1,
3.3 or 3.4 than the applicable Lender would have been entitled to
receive with respect to the participation sold to such Participant, unless the
sale of the participation to such Participant is made with the Company’s prior
written consent.  A Participant that
would be a Non-U.S. Lender if it were a Lender shall not be entitled to the
benefits of Section 3.4 unless the Company is notified of the
participation sold to such Participant and such Participant agrees, for the
benefit of the Borrowers, to comply with Section 3.4(d) as
though it were a Lender.

 

55

 

(d)           Any Lender may at any time pledge or assign
a security interest in all or any portion of its rights under this Agreement to
secure obligations of such Lender, including without limitation any pledge or
assignment to secure obligations to a Federal Reserve Bank, and this Section shall
not apply to any such pledge or assignment of a security interest; provided
that no such pledge or assignment of a security interest shall release a Lender
from any of its obligations hereunder or substitute any such pledgee or
assignee for such Lender as a party hereto.

 

12.2.        Dissemination of Information.  Each Borrower authorizes each Lender to
disclose to any assignee or Participant, or any other Person acquiring an
interest in the Loan Documents by operation of law (each a “Transferee”)
and any prospective Transferee any and all information in such Lender’s
possession concerning the creditworthiness of the Company and its Subsidiaries,
including any information contained in any Reports; provided that each
Transferee and prospective Transferee agrees to be bound by Section 9.11
of this Agreement.

 

12.3.        Tax Treatment.  If any interest in any Loan Document is
transferred to any Transferee which is not incorporated under the laws of the
United States or any State thereof, the transferor Lender shall cause such
Transferee, concurrently with the effectiveness of such transfer, to comply
with the provisions of Section 3.4(d).

 

ARTICLE XIII

NOTICES

 

13.1.        Notices; Effectiveness; Electronic
Communication.

 

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

 

(i)            if
to any Borrower, to the Company at its address or telecopier number set forth
on the signature page hereof;

 

(ii)           if
to the Administrative Agent, at its address or telecopier number set forth on
the signature page hereof;

 

(iii)          if
to an Issuer, to it at its address or telecopier number set forth on the
signature page hereof or in its Administrative Questionnaire, as
applicable; and

 

(iv)          if
to a Lender, to it at its address or telecopier number set forth in its
Administrative Questionnaire.

 

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

 

56

 

(b)           Electronic Communications.  Notices and other communications to the
Lenders and the Issuers hereunder may be delivered or furnished by electronic
communication (including e-mail and internet or intranet websites) pursuant to
procedures approved by the Administrative Agent or as otherwise determined by
the Administrative Agent; provided that the foregoing shall not apply to
notices to any Lender or any Issuer pursuant to Article II if such
Lender or such Issuer, as applicable, has notified the Administrative Agent
that it is incapable of receiving notices under such Article by electronic
communication.  The Administrative Agent
or any Borrower may, in its respective discretion, agree to accept notices and
other communications to it hereunder by electronic communications pursuant to
procedures approved by it or as it otherwise determines; provided that
such determination or approval 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 given during the normal business hours of the recipient,
such notice or communication shall be deemed to have been given 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)           Change of Address, Etc.  Any party hereto may change its address or
telecopier number for notices and other communications hereunder by notice to
the other parties hereto.

 

(d)           Duplicate Notices Not Required.  If the Company gives any notice or provides
any information to a Person under the Long-Term Credit Agreement and the
Company would otherwise be required to give a substantially identical notice or
provide substantially identical information to such Person under this
Agreement, then the notice given or information provided under the Long-Term
Credit Agreement shall be deemed to satisfy any requirement for the giving of
notice or the delivery of information under this Agreement.

 

ARTICLE XIV

COUNTERPARTS; EFFECT OF RESTATEMENT; ELECTRONIC EXECUTION

 

14.1.        Counterparts.  This Agreement may be executed in counterparts
(and by different parties hereto in different counterparts), each of which
shall constitute an original, but all of which when taken together shall
constitute a single contract.  Delivery
of an executed counterpart of a signature page of this Agreement by
facsimile or in a .pdf or similar file shall be effective as delivery of a
manually executed counterpart of this Agreement.

 

14.2.        Effect of Restatement.  This Agreement and the Long-Term Credit
Agreement collectively amend, restate and replace in its entirety the Existing
Agreement.  All rights, benefits,
indebtedness, interest, liabilities and obligations of the parties to the
Existing Agreement are hereby amended, restated, replaced and superseded in their
entirety according to the terms and provisions set forth herein and in the
Long-Term Credit Agreement.  The Borrower

 

57

 

represents and warrants that as
of the date hereof there are no claims or offsets against, or defenses or
counterclaims to, its obligations under this Agreement, the Existing Agreement,
the Long-Term Credit Agreement or any of the other agreements, documents or
instruments executed in connection herewith or therewith.  To induce the Administrative Agent and the
Lenders to enter into this Agreement, the Borrower waives any and all such
claims, offsets, defenses and counterclaims, whether known or unknown, arising
prior to the Effective Date and relating to the Existing Agreement, this
Agreement or the Long-Term Credit Agreement.

 

14.3.        Electronic Execution of Assignments.  The words “execution,” “signed,” “signature,”
and words of like import in any assignment and assumption agreement shall be
deemed to include electronic signatures or the keeping of records in electronic
form, each of which shall be of the same legal effect, validity or
enforceability as a manually executed signature or the use of a paper-based
recordkeeping system, as the case may be, to the extent and as provided for in
any applicable law, including the Federal Electronic Signatures in Global and
National Commerce Act, or any other state laws based on the Uniform Electronic
Transactions Act.

 

ARTICLE XV

GUARANTY BY THE COMPANY

 

15.1.        Guaranty.  The Company hereby absolutely,
unconditionally and irrevocably guarantees the full and punctual payment
(whether at stated maturity, upon acceleration or otherwise) of all obligations
of the Borrowing Subsidiaries under this Agreement, including the principal of
and interest on each Loan to each Borrowing Subsidiary and all obligations of
each Borrowing Subsidiary under or in connection with any Letter of Credit, and
all costs and expenses of the Administrative Agent and the Lenders in enforcing
any of their rights against the Borrowing Subsidiaries hereunder.  Upon failure by any Borrowing Subsidiary to
pay punctually any such amount, the Company shall forthwith on demand pay the
amount not so paid at the place, in the currency and in the manner specified in
this Agreement.

 

15.2.        Guaranty Unconditional.  The obligations of the Company under this Article XV
shall be absolute, unconditional and irrevocable and, without limiting the
generality of the foregoing, shall not be released, discharged or otherwise
affected by:

 

(a)           any extension, renewal, settlement,
compromise, waiver or release in respect of any obligation of any Borrowing
Subsidiary under this Agreement or any other Loan Document, by operation of law
or otherwise;

 

(b)           any modification or amendment of or
supplement to this Agreement or any other Loan Document;

 

(c)           any release, impairment, non perfection or
invalidity of any other guaranty or of any direct or indirect security for any
obligation of any Borrowing Subsidiary under this Agreement or any other Loan
Document;

 

(d)           any change in the corporate existence,
structure or ownership of any Borrowing Subsidiary or any insolvency,
bankruptcy, reorganization or other similar proceeding affecting any Borrowing
Subsidiary or any Borrowing Subsidiary’s assets or any resulting release or 

 

58

 

discharge of any obligation of any Borrowing Subsidiary contained in
this Agreement or any other Loan Document;

 

(e)           the existence of any claim, set off or other
right which the Company may have at any time against any Borrowing Subsidiary,
the Administrative Agent, any Lender, any Issuer or any other Person, whether
in connection herewith or any unrelated transaction; provided that
nothing herein shall prevent the assertion of any such claim by separate suit
or compulsory counterclaim;

 

(f)            any invalidity or unenforceability relating
to or against any Borrowing Subsidiary for any reason of this Agreement or any
other Loan Document, or any provision of any applicable law or regulation
purporting to prohibit the payment by any Borrowing Subsidiary of the principal
of or interest on any Loan or any other amount payable by such Borrowing
Subsidiary under this Agreement or any other Loan Document; or

 

(g)           any other act or omission to act or delay of
any kind by any Borrowing Subsidiary, the Administrative Agent, any Lender, any
Issuer or any other Person or any other circumstance whatsoever which might,
but for the provisions of this paragraph, constitute a legal or equitable
discharge of the Company’s obligations as guarantor hereunder.

 

15.3.        Discharge only upon Payment in Full;
Reinstatement in Certain Circumstances. 
The Company’s obligations as guarantor hereunder shall remain in full
force and effect until the Commitments shall have terminated and all
obligations of the Borrowing Subsidiaries under this Agreement and each other
Loan Document shall have been paid in full. 
If at any time any payment of principal, interest or any other amount
payable by any Borrowing Subsidiary under or in connection with this Agreement
or any other Loan Document is rescinded or must be otherwise restored or
returned upon the insolvency, bankruptcy or reorganization of such Borrowing
Subsidiary or otherwise, the Company’s obligations hereunder with respect to
such payment shall be reinstated as though such payment had been due but not
made at such time.

 

15.4.        Waiver by the Company.  The Company irrevocably waives acceptance
hereof,  presentment, demand, protest and
any notice not provided for herein, as well as any requirement that at any time
any action be taken by any Person against any Borrowing Subsidiary or any other
Person.

 

15.5.        Subrogation.  Notwithstanding any payment made by or for
the account of any Borrowing Subsidiary pursuant to this Article XV,
the Company shall not be subrogated to any right of the Administrative Agent,
any Lender or any Issuer until such time as the Administrative Agent, the
Lenders and the Issuers and any applicable Affiliate of any Lender shall have
received final payment in cash of the full amount of all obligations of the
Borrowing Subsidiaries hereunder and under each other Loan Document.

 

15.6.        Stay of Acceleration.  If acceleration of the time for payment of
any amount payable by any Borrowing Subsidiary under this Agreement or any
other Loan Document is stayed upon the insolvency, bankruptcy or reorganization
of such Borrowing Subsidiary, all such amounts otherwise subject to
acceleration under the terms of this Agreement shall nonetheless be 

 

59

 

payable by the Company hereunder forthwith on demand by the
Administrative Agent made at the request of the Required Lenders.

 

ARTICLE XVI

CHOICE OF LAW; CONSENT TO JURISDICTION; WAIVER OF JURY TRIAL

 

16.1.        CHOICE OF LAW.  THE LOAN DOCUMENTS (OTHER THAN THOSE
CONTAINING A CONTRARY EXPRESS CHOICE OF LAW PROVISION) SHALL BE CONSTRUED IN
ACCORDANCE WITH THE INTERNAL LAWS OF THE STATE OF NEW YORK, BUT GIVING EFFECT
TO FEDERAL LAWS APPLICABLE TO NATIONAL BANKS.

 

16.2.        CONSENT TO JURISDICTION.  EACH BORROWER HEREBY IRREVOCABLY SUBMITS TO
THE NON-EXCLUSIVE JURISDICTION OF ANY UNITED STATES FEDERAL OR NEW YORK STATE
COURT SITTING IN NEW YORK, NEW YORK IN ANY ACTION OR PROCEEDING ARISING OUT OF
OR RELATING TO ANY LOAN DOCUMENT AND EACH BORROWER HEREBY IRREVOCABLY AGREES
THAT ALL CLAIMS IN RESPECT OF SUCH ACTION OR PROCEEDING MAY BE HEARD AND
DETERMINED IN ANY SUCH COURT AND IRREVOCABLY WAIVES ANY OBJECTION IT MAY NOW
OR HEREAFTER HAVE AS TO THE VENUE OF ANY SUCH SUIT, ACTION OR PROCEEDING
BROUGHT IN SUCH A COURT OR THAT SUCH COURT IS AN INCONVENIENT FORUM.  NOTHING HEREIN SHALL LIMIT THE RIGHT OF THE
ADMINISTRATIVE AGENT, ANY LENDER OR ANY ISSUER TO BRING PROCEEDINGS AGAINST ANY
BORROWER IN THE COURTS OF ANY OTHER JURISDICTION.  ANY JUDICIAL PROCEEDING BY ANY BORROWER
AGAINST THE ADMINISTRATIVE AGENT, ANY LENDER OR ANY ISSUER OR ANY AFFILIATE OF
THE ADMINISTRATIVE AGENT, ANY LENDER OR ANY ISSUER INVOLVING, DIRECTLY OR
INDIRECTLY, ANY MATTER IN ANY WAY ARISING OUT OF, RELATED TO, OR CONNECTED WITH
ANY LOAN DOCUMENT SHALL BE BROUGHT ONLY IN A COURT IN NEW YORK, NEW YORK.

 

16.3.        WAIVER OF JURY TRIAL.  EACH BORROWER, THE ADMINISTRATIVE AGENT, EACH
LENDER AND EACH ISSUER HEREBY WAIVE TRIAL BY JURY IN ANY JUDICIAL PROCEEDING
INVOLVING, DIRECTLY OR INDIRECTLY, ANY MATTER (WHETHER SOUNDING IN TORT, CONTRACT
OR OTHERWISE) IN ANY WAY ARISING OUT OF, RELATED TO, OR CONNECTED WITH ANY LOAN
DOCUMENT OR THE RELATIONSHIP ESTABLISHED THEREUNDER.

 

60

 

IN WITNESS
WHEREOF, the Company, the Lenders, the Issuers and the Administrative Agent
have executed this Agreement as of the date first above written.

 

	
   

  	
  BEMIS COMPANY, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
  Name: Melanie E. R. Miller

  
	
   

  	
  Title: Vice President and Treasurer

  
	
   

  	
   

  
	
   

  	
  One Neenah Center, 4th Floor

  
	
   

  	
  P.O. Box 669

  
	
   

  	
  Neenah, Wisconsin 54957-0669

  
	
   

  	
  FAX: 920/527-5040

  

 

 

Commitments

 

	
  $17,100,000

  	
  JPMORGAN CHASE BANK, NATIONAL 

  ASSOCIATION,

  
	
   

  	
  Individually and as Administrative Agent

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
  Name: Michael B. Kelly

  
	
   

  	
  Title: Vice President

  
	
   

  	
   

  
	
   

  	
  Lending Office:

  
	
   

  	
   

  
	
   

  	
  JPMorgan Chase Bank, National Association

  
	
   

  	
  10 South Dearborn, Floor 07

  
	
   

  	
  Chicago, IL 60603-2003 United States

  
	
   

  	
  Mail Code IL1-0010

  
	
   

  	
  Attention: Edna
  Guerra

  
	
   

  	
  FAX:
  312-385-7090

  
	
   

  	
  E-Mail:
  edna.guerra@jpmchase.com

  

 

 

	
  $17,100,000

  	
  WACHOVIA BANK, NATIONAL ASSOCIATION

  
	
   

  	
  Individually and as Syndication Agent

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
  Name:

  	
   

  	
   

  
	
   

  	
  Title:

  	
   

  	
   

  
						

 

 

	
  $6,000,000

  	
  ING BANK N.V., DUBLIN BRANCH, as a Lender

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
  Name:

  	
   

  	
   

  
	
   

  	
  Title:

  	
   

  	
   

  
						

 

 

	
  $14,025,000

  	
  WELLS FARGO BANK, NATIONAL 

  ASSOCIATION, as a Lender

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
  Name:

  	
   

  	
   

  
	
   

  	
  Title:

  	
   

  	
   

  
						

 

 

	
  $6,750,000

  	
  BNP PARIBAS, as a Lender

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
  Name:

  	
   

  	
   

  
	
   

  	
  Title:

  	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
  Name:

  	
   

  	
   

  
	
   

  	
  Title:

  	
   

  	
   

  
									

 

 

	
  $14,025,000

  	
  U.S. BANK NATIONAL ASSOCIATION, as a 

  Lender

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
  Name:

  	
   

  	
   

  
	
   

  	
  Title:

  	
   

  	
   

  
						

 

 

PRICING SCHEDULE

 

	
  APPLICABLE

  MARGIN

  	
   

  	
  LEVEL I 

  STATUS

  	
   

  	
  LEVEL II 

  STATUS

  	
   

  	
  LEVEL III 

  STATUS

  	
   

  	
  LEVEL IV 

  STATUS

  	
   

  	
  LEVEL V 

  STATUS

  	
   

  
	
  Eurocurrency Rate/Letter of Credit Fee Rate

  	
   

  	
  0.180

  	
  %

  	
  0.220

  	
  %

  	
  0.310

  	
  %

  	
  0.350

  	
  %

  	
  0.525

  	
  %

  
	
  Facility Fee Rate

  	
   

  	
  0.055

  	
  %

  	
  0.060

  	
  %

  	
  0.070

  	
  %

  	
  0.080

  	
  %

  	
  0.100

  	
  %

  
	
  Utilization Fee Rate

  	
   

  	
  0.050

  	
  %

  	
  0.050

  	
  %

  	
  0.050

  	
  %

  	
  0.100

  	
  %

  	
  0.100

  	
  %

  

 

For
the purposes of this Schedule, the following terms have the following meanings,
subject to the final paragraph of this Schedule:

 

“Level
I Status” exists at any date if, on such date, the Company’s Moody’s Rating is
A2 or better and the Company’s S&P Rating is A or better.

 

“Level
II Status” exists at any date if, on such date, (i) the Company has not
qualified for Level I Status and (ii) the Company’s Moody’s Rating is A3
or better and the Company’s S&P Rating is A- or better.

 

“Level
III Status” exists at any date if, on such date, (i) the Company has not
qualified for Level I Status or Level II Status and (ii) the Company’s
Moody’s Rating is Baa1 or better and the Company’s S&P Rating is BBB or
better.

 

“Level
IV Status” exists at any date if, on such date, (i) the Company has not
qualified for Level I Status, Level II Status or Level III Status and (ii) the
Company’s Moody’s Rating is Baa2 or better and the Company’s S&P Rating is
BBB or better.

 

“Level
V Status” exists at any date if, on such date, the Company has not qualified
for Level I Status, Level II Status, Level III Status or Level IV Status.

 

“Moody’s
Rating” means, at any time, the rating issued by Moody’s and then in effect
with respect to the Company’s senior unsecured long-term debt securities
without third-party credit enhancement.

 

“S&P
Rating” means, at any time, the rating issued by S&P and then in effect
with respect to the Company’s senior unsecured long-term debt securities
without third-party credit enhancement.

 

“Status”
means either Level I Status, Level II Status, Level III Status, Level IV Status
or Level V Status.

 

 

The
Applicable Margin and Applicable Fee Rate shall be determined in accordance with
the foregoing table based on the Company’s Status as determined from its
then-current Moody’s and S&P Ratings. 
The credit rating in effect on any date for the purposes of this
Schedule is that in effect at the close of business on such date.  If at any time the Company has no Moody’s
Rating or no S&P Rating, Level V Status shall exist.

 

If
the Company is split-rated and the ratings differential is one notch, the
higher of the two ratings will apply (e.g., A/A3 results in Level I Status and
A-/Baa1 results in Level II Status).  If
the Company is split-rated and the ratings differential is two or more notches,
the rating which is one notch above the lower rating shall be used (e.g.,
A/Baa1 results in Level II Status and A/Baa3 results in Level III Status).  If at any date, the Company’s long-term
unsecured debt is rated by neither S&P nor Moody’s, then Level V Status
shall apply.

 

 

SCHEDULE 1

 

EUROCURRENCY PAYMENT OFFICE

 

Sterling
and Euro

 

J.
P. Morgan Europe Limited

125
London Wall, London EC2Y 5AJ

Attention:
Loans Agency

Tel
no (44) 207 777 2542

Fax no (44) 207 777 2360

 

 

EXHIBIT A

 

COMPLIANCE CERTIFICATE

 

	
  To:

  	
   

  	
  The
  Lenders that are parties to the Amended and Restated

  
	
   

  	
   

  	
  364-Day
  Credit Agreement Described Below

  

 

This
Compliance Certificate is furnished pursuant to the Amended and Restated
364-Day Credit Agreement dated as of               ,         (as
amended, modified, renewed or extended from time to time, the “364-Day
Credit Agreement”) among Bemis Company, Inc. (the “Company”),
various subsidiaries of the Company, the lenders party thereto and JPMorgan
Chase Bank, National Association, as Administrative Agent for the Lenders.  Unless otherwise defined herein, capitalized
terms used in this Compliance Certificate have the meanings ascribed thereto in
the Agreement.

 

THE
UNDERSIGNED HEREBY CERTIFIES THAT:

 

1.  I am the duly elected                     of
the Company;

 

2.  I have reviewed the terms of the 364-Day
Credit Agreement and I have made, or have caused to be made under my
supervision, a detailed review of the transactions and conditions of the
Company and its Subsidiaries during the accounting period covered by the
attached financial statements;

 

3.  The examinations described in paragraph 2 did
not disclose, and I have no knowledge of, the existence of any condition or
event which constitutes a Default or Unmatured Default during or at the end of
the accounting period covered by the attached financial statements or as of the
date of this Certificate, except as set forth below; and

 

4.  Schedule I attached hereto sets forth
financial data and computations evidencing the Borrower’s compliance with
certain covenants of the 364-Day Credit Agreement, all of which data and
computations are true, complete and correct.

 

Described
below are the exceptions, if any, to paragraph 3 by listing, in detail, the
nature of the condition or event, the period during which it has existed and
the action which the Company has taken, is taking, or proposes to take with
respect to each such condition or event:

 

 

 

 

 

The
foregoing certifications, together with the computations set forth in Schedule
I hereto and the financial statements delivered with this Certificate in
support hereof, are made and delivered this      day
of                ,      .

 

 

SCHEDULE I TO COMPLIANCE
CERTIFICATE

 

Compliance as of
                  ,
         with

Provisions of      and    of

the Agreement

 

 

EXHIBIT B

 

ASSIGNMENT AND ASSUMPTION AGREEMENT

 

This Assignment and Assumption (the “Assignment and Assumption”)
is dated as of the Effective Date set forth below and is entered into by and
between [Insert name of Assignor] (the “Assignor”)
and [Insert name of Assignee] (the “Assignee”).  Capitalized terms used but not defined herein
shall have the meanings given to them in the 364-Day Credit Agreement
identified below (as amended, the “364-Day Credit Agreement”), receipt
of a copy of which is hereby acknowledged by the Assignee.  The Standard Terms and Conditions set forth
in Annex 1 attached hereto are hereby agreed to and incorporated herein by
reference and made a part of this Assignment and Assumption as if set forth
herein in full.

 

For
an agreed consideration, the Assignor hereby irrevocably sells and assigns to
the Assignee, and the Assignee hereby irrevocably purchases and assumes from
the Assignor, subject to and in accordance with the Standard Terms and
Conditions and the 364-Day Credit Agreement, as of the Effective Date inserted
by the Administrative Agent as contemplated below (i) all of the Assignor’s
rights and obligations in its capacity as a Lender under the 364-Day Credit
Agreement and any other documents or instruments delivered pursuant thereto to
the extent related to the amount and percentage interest identified below of
all of such outstanding rights and obligations of the Assignor under the
respective facilities identified below (including any letters of credit and
guarantees included in such facilities) and (ii) to the extent permitted
to be assigned under applicable law, all claims, suits, causes of action and
any other right of the Assignor (in its capacity as a Lender) against any
Person, whether known or unknown, arising under or in connection with the
364-Day Credit Agreement, any other documents or instruments delivered pursuant
thereto or the loan transactions governed thereby or in any way based on or
related to any of the foregoing, including contract claims, tort claims,
malpractice claims, statutory claims and all other claims at law or in equity
related to the rights and obligations sold and assigned pursuant to clause (i) above
(the rights and obligations sold and assigned pursuant to clauses (i) and (ii) above
being referred to herein collectively as the “Assigned Interest”).  Such sale and assignment is without recourse
to the Assignor and, except as expressly provided in this Assignment and
Assumption, without representation or warranty by the Assignor.

 

	
  1.

  	
  Assignor:

  	
   

  
	
   

  	
   

  	
   

  
	
  2.

  	
  Assignee:

  	
   

  
	
   

  	
   

  	
  [and
  is an Affiliate/Approved Fund of [identify Lender]]

  
	
   

  	
   

  	
   

  
	
  3.

  	
  Borrower(s):

  	
  Bemis
  Company, Inc. and various subsidiaries

  
	
   

  	
   

  	
   

  
	
  4.

  	
  Administrative
  Agent:

  	
  JPMorgan
  Chase Bank, National Association, as the administrative agent under the
  364-Day Credit Agreement

  
	
   

  	
   

  	
   

  
	
  5.

  	
  Credit
  Agreement:

  	
  The
  Amended and Restated 364-Day Credit Agreement dated as of April 29, 2008
  among Bemis Company, Inc., various subsidiaries thereof, the Lenders
  parties thereto, JPMorgan Chase Bank, National Association, as Administrative
  Agent, and the other agents parties thereto

  

 

 

6.             Assigned
Interest:

 

	
  Facility Assigned

  	
   

  	
  Aggregate Amount of 

  Commitment/Loans for 

  all Lenders

  	
   

  	
  Amount of 

  Commitment/Loans 

  Assigned

  	
   

  	
  Percentage Assigned of 

  Commitment/Loans

  	
   

  
	
   

  	
   

  	
  $

  	
   

  	
  $

  	
   

  	
   

  	
  %

  
	
   

  	
   

  	
  $

  	
   

  	
  $

  	
   

  	
   

  	
  %

  
	
   

  	
   

  	
  $

  	
   

  	
  $

  	
   

  	
   

  	
  %

  

 

Effective
Date:  
                          
      , 20      
[TO BE INSERTED BY ADMINISTRATIVE AGENT AND WHICH SHALL BE THE EFFECTIVE DATE
OF RECORDATION OF TRANSFER IN THE REGISTER THEREFOR.]

 

The terms set forth in this
Assignment and Assumption are hereby agreed to:

 

	
   

  	
  ASSIGNOR

  
	
   

  	
   

  
	
   

  	
  [NAME OF ASSIGNOR]

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
  Title:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  ASSIGNEE

  
	
   

  	
   

  
	
   

  	
  [NAME
  OF ASSIGNEE]

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
  Title:

  
						

 

 

[Consented
to and] Accepted:

 

JPMORGAN CHASE BANK,
NATIONAL ASSOCIATION,

as Administrative Agent

 

 

	
  By

  	
   

  	
   

  	
   

  
	
  Title:

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  [Consented
  to:]

  	
   

  
	
   

  	
   

  
	
  [NAME
  OF RELEVANT PARTY]

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  By

  	
   

  	
   

  	
   

  
	
  Title:

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  cc:
  J. P. Morgan Europe Limited, Fax no. 44 207 777 2360

  	
   

  
						

 

 

ANNEX 1

 

STANDARD TERMS AND CONDITIONS FOR

ASSIGNMENT AND ASSUMPTION

 

1.  Representations and
Warranties.

 

1.1   Assignor.  The Assignor (a) represents and warrants
that (i) it is the legal and beneficial owner of the Assigned Interest, (ii) the
Assigned Interest is free and clear of any lien, encumbrance or other adverse
claim and (iii) it has full power and authority, and has taken all action
necessary, to execute and deliver this Assignment and Assumption and to consummate
the transactions contemplated hereby; and (b) assumes no responsibility
with respect to (i) any statements, warranties or representations made in
or in connection with the 364-Day Credit Agreement or any other Loan Document, (ii) the
execution, legality, validity, enforceability, genuineness, sufficiency or
value of the Loan Documents or any collateral thereunder, (iii) the
financial condition of any Borrower, any of its Subsidiaries or Affiliates or
any other Person obligated in respect of any Loan Document or (iv) the
performance or observance by any Borrower, any of its Subsidiaries or
Affiliates or any other Person of any of their respective obligations under any
Loan Document.

 

1.2.  Assignee.  The Assignee (a) represents and warrants
that (i) it has full power and authority, and has taken all action
necessary, to execute and deliver this Assignment and Assumption and to
consummate the transactions contemplated hereby and to become a Lender under
the 364-Day Credit Agreement, (ii) it satisfies the requirements, if any,
specified in the 364-Day Credit Agreement that are required to be satisfied by
it in order to acquire the Assigned Interest and become a Lender, (iii) from
and after the Effective Date, it shall be bound by the provisions of the 364-Day
Credit Agreement as a Lender thereunder and, to the extent of the Assigned
Interest, shall have the obligations of a Lender thereunder, (iv) it has
received a copy of the 364-Day Credit Agreement, together with copies of the
most recent financial statements delivered pursuant to Section 6.1
thereof, as applicable, and such other documents and information as it has
deemed appropriate to make its own credit analysis and decision to enter into
this Assignment and Assumption and to purchase the Assigned Interest on the
basis of which it has made such analysis and decision independently and without
reliance on the Administrative Agent or any other Lender, and (v) if it is
a Non-U.S. Lender, attached to the Assignment and Assumption is any
documentation required to be delivered by it pursuant to the terms of the
364-Day Credit Agreement, duly completed and executed by the Assignee; and (b) agrees
that (i) it will, independently and without reliance on the Administrative
Agent, the Assignor or any other Lender, and based on such documents and
information as it shall deem appropriate at the time, continue to make its own
credit decisions in taking or not taking action under the Loan Documents, and (ii) it
will perform in accordance with their terms all of the obligations which by the
terms of the Loan Documents are required to be performed by it as a Lender.

 

2.   Payments.    From and after the Effective Date, the
Administrative Agent shall make all payments in respect of the Assigned
Interest (including payments of principal, interest, fees and other amounts) to
the Assignor for amounts which have accrued to but excluding the Effective Date
and to the Assignee for amounts which have accrued from and after the Effective
Date.

 

3.  General Provisions.
This Assignment and Assumption shall be binding upon, and inure to the benefit
of, the parties hereto and their respective successors and assigns.  This Assignment and Assumption may be
executed in any number of counterparts, which together shall constitute one
instrument.  Delivery of an executed
counterpart of a signature page of this Assignment and Assumption by
telecopy shall be effective as delivery of a manually executed counterpart of
this Assignment and 

 

 

Assumption.  This Assignment and Assumption shall be governed
by, and construed in accordance with, the law of the State of New York.

 

 

EXHIBIT
C

 

BORROWING SUBSIDIARY CONFIRMATION

 

[Date]

 

JPMorgan
Chase Bank, National Association, as Administrative Agent

 

Attention:

 

Ladies
and Gentlemen:

 

Please refer to the Amended and Restated 364-Day Credit Agreement dated
as of April 29, 2008 (as amended or otherwise modified from time to time,
the “364-Day Credit Agreement”) among Bemis Company, Inc. (the “Company”),
the Borrowing Subsidiaries named therein, the financial institutions from time
to time party thereto and JPMorgan Chase Bank, National Association, as
Administrative Agent.  Capitalized terms
used and not defined herein shall have the meanings assigned to such terms in
the 364-Day Credit Agreement.

 

The undersigned, a “Borrowing Subsidiary” under and as defined in the
Existing Agreement, agrees with the Company and the Administrative Agent that
after giving effect to the effectiveness of the 364-Day Credit Agreement, the
undersigned will be a Borrowing Subsidiary under the 364-Day Credit
Agreement.  In furtherance of the
foregoing, the undersigned (a) represents and warrants that on the
Effective Date each representation and warranty as to the undersigned contained
in Article V of the 364-Day Credit Agreement is true and correct as if
made on such date, except to the extent any such representation or warranty is
stated to relate solely to an earlier date, in which case such representation
or warranty shall have been true and correct on and as of such earlier date; (b) confirms that it will perform all of the
obligations of a Borrowing Subsidiary under the 364-Day Credit Agreement; (c) confirms
that each reference to a Borrowing Subsidiary in the 364-Day Credit Agreement
shall be deemed to include the undersigned; [and] (d) confirms that all
Loans to the undersigned under the 364-Day Credit Agreement shall be
denominated in [LIST AGREED CURRENCY] [; and (e) confirms that the “Loans”
(as defined in the Existing Agreement) identified on Schedule 1, which
currently are outstanding under the Existing Agreement, will become Loans under
the 364-Day Credit Agreement on the Effective Date. 

 

 

This instrument shall be construed in accordance with
and governed by the laws of the State of New York.

 

	
   

  	
   

  	
  Very
  truly yours,

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  [BORROWING
  SUBSIDIARY]

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  Name:

  	
   

  	
   

  
	
   

  	
   

  	
  Title:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Accepted
  and agreed as of the date first above written:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  JPMORGAN
  CHASE BANK, NATIONAL ASSOCIATION,

  	
   

  	
   

  
	
  as
  Administrative Agent

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
   

  	
   

  	
   

  	
   

  
	
  Name:

  	
   

  	
   

  	
   

  	
   

  
	
  Title:

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  BEMIS
  COMPANY, INC.

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
   

  	
   

  	
   

  	
   

  
	
  Name:

  	
   

  	
   

  	
   

  	
   

  
	
  Title:

  	
   

  	
   

  	
   

  	
   

  
														

 

 

Schedule 1 to Borrowing Subsidiary Confirmation

 

Existing
Loans:

 

 

EXHIBIT D

Associated
Costs Rates

 

1.           The Mandatory Cost is an addition to the
interest rate to compensate Lenders for the cost of compliance with (a) the
requirements of the Bank of England and/or the Financial Services Authority
(or, in either case, any other authority which replaces all or any of its
functions) or (b) the requirements of the European Central Bank.

 

2.           On the first day of each Interest Period
(or as soon as possible thereafter) the Agent shall calculate, as a percentage
rate, a rate (the “Additional Cost Rate”) for each Lender, in accordance
with the paragraphs set out below.  The
Mandatory Cost will be calculated by the Agent as a weighted average of the
Lenders’ Additional Cost Rates (weighted in proportion to the percentage
participation of each Lender in the relevant Loan) and will be expressed as a
percentage rate per annum.

 

3.           The Additional Cost Rate for any Lender
lending from a Facility Office in a Participating Member State will be the
percentage notified by that Lender to the Agent.  This percentage will be certified by that
Lender in its notice to the Agent to be its reasonable determination of the
cost (expressed as a percentage of that Lender’s participation in all Loans
made from that Facility Office) of complying with the minimum reserve
requirements of the European Central Bank in respect of loans made from that
Facility Office.

 

4.           The Additional Cost Rate for any Lender
lending from a Facility Office in the United Kingdom will be calculated by the
Agent as follows:

 

(a)              in relation to a
sterling Loan:

 

 per cent. per annum

 

(b)           in relation to a Loan in any currency
other than sterling:

 

 per cent. per annum.

 

Where:

A         is the percentage of
Eligible Liabilities (assuming these to be in excess of any stated minimum)
which that Lender is from time to time required to maintain as an interest free
cash ratio deposit with the Bank of England to comply with cash ratio
requirements.

 

B          is the percentage rate
of interest (excluding the Margin and the Mandatory Cost and, if the Loan is an
Unpaid Sum, the additional rate of interest specified in Section 2.12 of
the 364-Day Credit Agreement payable for the relevant Interest Period on the
Loan.

 

C          is the percentage (if
any) of Eligible Liabilities which that Lender is required from time to time to
maintain as interest bearing Special Deposits with the Bank of England.

 

 

D          is the percentage rate
per annum payable by the Bank of England to the Agent on interest bearing
Special Deposits.

 

E          is designed to
compensate Lenders for amounts payable under the Fees Rules and is
calculated by the Agent as being the average of the most recent rates of charge
supplied by the Reference Banks to the Agent pursuant to paragraph 7 below and
expressed in pounds per £1,000,000.

 

5.           For the purposes of this Schedule:

 

(a)           “Eligible
Liabilities” and “Special Deposits” have the meanings given to them
from time to time under or pursuant to the Bank of England Act 1998 or (as may
be appropriate) by the Bank of England;

(b)           “Fees Rules”
means the rules on periodic fees contained in the FSA Supervision Manual
or such other law or regulation as may be in force from time to time in respect
of the payment of fees for the acceptance of deposits;

(c)           “Fee Tariffs”
means the fee tariffs specified in the Fees Rules under the activity group
A.1 Deposit acceptors (ignoring any minimum fee or zero rated fee required
pursuant to the Fees Rules but taking into account any applicable discount
rate); and

(d)           “Tariff Base”
has the meaning given to it in, and will be calculated in accordance with, the
Fees Rules.

 

6.           In application of the above formulae, A,
B, C and D will be included in the formulae as percentages (i.e. 5 per cent.
will be included in the formula as 5 and not as 0.05).  A negative result obtained by subtracting D from
B shall be taken as zero.  The resulting
figures shall be rounded to four decimal places.

 

7.           If requested by the Agent, each Reference
Bank shall, as soon as practicable after publication by the Financial Services
Authority, supply to the Agent, the rate of charge payable by that Reference
Bank to the Financial Services Authority pursuant to the Fees Rules in
respect of the relevant financial year of the Financial Services Authority
(calculated for this purpose by that Reference Bank as being the average of the
Fee Tariffs applicable to that Reference Bank for that financial year) and
expressed in pounds per £1,000,000 of the Tariff Base of that Reference Bank.

 

8.           Each Lender shall supply any information
required by the Agent for the purpose of calculating its Additional Cost
Rate.  In particular, but without
limitation, each Lender shall supply the following information on or prior to
the date on which it becomes a Lender:

 

(a)              the jurisdiction of its Facility Office;
and

 

(b)             any other information that the Agent may
reasonably require for such purpose.

 

Each
Lender shall promptly notify the Agent of any change to the information
provided by it pursuant to this paragraph.

 

9.           The percentages of each Lender for the
purpose of A and C above and the rates of charge of each Reference Bank for the
purpose of E above shall be determined by the Agent based upon the information
supplied to it pursuant to paragraphs 7 and 8 above and on the 

 

 

assumption that, unless a Lender notifies
the Agent to the contrary, each Lender’s obligations in relation to cash ratio
deposits and Special Deposits are the same as those of a typical bank from its
jurisdiction of incorporation with a Facility Office in the same jurisdiction
as its Facility Office.

 

10.         The Agent shall have no liability to any
person if such determination results in an Additional Cost Rate which over or
under compensates any Lender and shall be entitled to assume that the
information provided by any Lender or Reference Bank pursuant to paragraphs 3,
7 and 8 above is true and correct in all respects.

 

11.         The Agent shall distribute the additional
amounts received as a result of the Mandatory Cost to the Lenders on the basis
of the Additional Cost Rate for each Lender based on the information provided
by each Lender and each Reference Bank pursuant to paragraphs 3, 7 and 8 above.

 

12.         Any determination by the Agent pursuant
to this Schedule in relation to a formula, the Mandatory Cost, an Additional
Cost Rate or any amount payable to a Lender shall, in the absence of manifest
error, be conclusive and binding on all Parties.

 

13.         The Agent may from time to time, after
consultation with the Company and the Lenders, determine and notify to all
Parties any amendments which are required to be made to this Schedule in order
to comply with any change in law, regulation or any requirements from time to
time imposed by the Bank of England, the Financial Services Authority or the
European Central Bank (or, in any case, any other authority which replaces all
or any of its functions) and any such determination shall, in the absence of
manifest error, be conclusive and binding on all Parties.

 

 

EXHIBIT E

FORM OF INCREASE REQUEST

 

                                                      ,
20

 

JPMorgan Chase Bank, National Association, as Administrative Agent 

under the Amended and Restated 364-Day Credit Agreement referred to
below

[ADDRESS]

Attention: 
[                              ]

 

Ladies/Gentlemen:

 

Please refer to the Amended and Restated 364-Day
Credit Agreement dated as of April 29, 2008 (as amended or otherwise
modified from time to time, the “364-Day Credit Agreement”) among Bemis Company, Inc.
(the “Company”), various subsidiaries of the Company, various financial
institutions and JPMorgan Chase Bank, National Association, as Administrative
Agent.  Capitalized terms used but not
defined herein have the respective meanings set forth in the 364-Day Credit
Agreement.

 

In accordance with Section 2.5.4 of the 364-Day
Credit Agreement, the Company hereby requests an increase in the Aggregate
Commitment from
$                    
to
$                    .  Such increase shall be made by [increasing
the Commitment of
                        
from
$                
to
$                ]
[adding                           
as an Additional Lender under the 364-Day Credit Agreement with a Commitment of
$                        ]
as set forth in the letter attached hereto. 
Such increase shall be effective three Business Days after the date that
the Administrative Agent acknowledges receipt of the letter attached hereto or
such other date as is agreed among the Company, the Administrative Agent and
the [increasing] [Additional] Lender.

 

	
   

  	
  Very truly yours,

  
	
   

  	
   

  
	
   

  	
  BEMIS COMPANY, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name:

  	
   

  
	
   

  	
   

  	
  Title:

  	
   

  
						

 

 

ANNEX 1 TO EXHIBIT E

 

[Date]

 

JPMorgan Chase Bank, National Association, as Administrative Agent

under the Amended and Restated 364-Day Credit Agreement referred to
below

[ADDRESS]

Attention: 
[                              ]

 

Ladies/Gentlemen:

 

Please refer to the letter dated
                    ,
20     from Bemis Company, Inc. (the “Company”)
requesting an increase in the Aggregate Commitment from
$                    
to $                    
pursuant to Section 2.5.4 of the Amended and Restated 364-Day Credit Agreement
dated as of April 29, 2008 (as amended or otherwise modified from time to
time, the “364-Day Credit Agreement”) among the Company, various subsidiaries
of the Company, various financial institutions and JPMorgan Chase Bank,
National Association, as Administrative Agent. 
Capitalized terms used but not defined herein have the respective
meanings set forth in the 364-Day Credit Agreement.

 

The undersigned hereby confirms that it has agreed to
increase its Commitment under the 364-Day Credit Agreement from
$                    
to
$                    
effective on the date which is three Business Days after the acknowledgment of
receipt hereof by the Administrative Agent or on such other date as may be
agreed among the Company, the Administrative Agent and the undersigned.

 

	
   

  	
  Very truly yours,

  
	
   

  	
   

  
	
   

  	
  [NAME OF INCREASING LENDER]

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Title:

  	
   

  
					

 

Receipt acknowledged as of

 

                          ,
20     

 

JPMORGAN CHASE BANK, NATIONAL ASSOCIATION, as Administrative Agent

 

 

	
  By:

  	
   

  	
   

  
	
  Name:

  	
   

  	
   

  
	
  Title:

  	
   

  	
   

  
					

 

 

ANNEX 2 TO EXHIBIT E

 

[Date]

 

JPMorgan Chase Bank, National Association, as Administrative Agent

under the Amended and Restated 364-Day Credit Agreement referred to
below

[ADDRESS]

Attention: 
[                              ]

 

Ladies/Gentlemen:

 

Please refer to the letter dated
                    ,
20       from Bemis Company, Inc. (the “Company”)
requesting an increase in the Aggregate Commitment from
$                    
to $                    
pursuant to Section 2.5.4 of the Amended and Restated 364-Day Credit
Agreement dated as of April 29, 2008 (as amended or otherwise modified
from time to time, the “364-Day Credit Agreement”) among the Company,
various Subsidiaries of the Company, various financial institutions and
JPMorgan Chase Bank, National Association, as Administrative Agent.  Capitalized terms used but not defined herein
have the respective meanings set forth in the 364-Day Credit Agreement.

 

The undersigned hereby confirms that it has agreed to
become a Lender under the 364-Day Credit Agreement with a Commitment of
$                    
effective on the date which is three Business Days after the acknowledgement of
receipt hereof, and consent hereto, by the Administrative Agent or on such
other date as may be agreed among the Company, the Administrative Agent and the
undersigned.

 

The undersigned (a) acknowledges that it has
received a copy of the 364-Day Credit Agreement and the Schedules and Exhibits
thereto, together with copies of the most recent financial statements delivered
by the Company pursuant to the 364-Day Credit Agreement, and such other
documents and information as it has deemed appropriate to make its own credit
and legal analysis and decision to become a Lender under the 364-Day Credit
Agreement; and (b) agrees 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 and legal decisions in taking or not taking action under the 364-Day
Credit Agreement.

 

The undersigned represents and warrants that (i) it
is duly organized and existing and it has full power and authority to take, and
has taken, all action necessary to execute and deliver this letter and to
consummate the transactions contemplated hereby and to become a Lender under
the 364-Day Credit Agreement; and (ii) no notices to, or consents,
authorizations or approvals of, any Person are required (other than any already
given or obtained) for its due execution and delivery of this letter and the
performance of its obligations as a Lender under the 364-Day Credit Agreement.

 

 

The undersigned agrees to execute and deliver such
other instruments, and take such other actions, as the Administrative Agent or
the Company may reasonably request in connection with the transactions
contemplated by this letter.

 

 

The following administrative details apply to the undersigned:

 

	
  (A)

  	
  Notice Address:

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Legal name:

  	
   

  	
   

  
	
   

  	
  Address:

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Attention:

  	
   

  	
   

  
	
   

  	
  Telephone: (   )

  	
   

  	
   

  
	
   

  	
  Facsimile:  (   )

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  (B)

  	
  Payment Instructions:

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Account No.:

  	
   

  	
   

  
	
   

  	
  At:

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Reference:

  	
   

  	
   

  
	
   

  	
  Attention:

  	
   

  	
   

  
												

 

The undersigned acknowledges and agrees that, on the
date on which the undersigned becomes a Lender under the 364-Day Credit
Agreement as set forth in the second paragraph hereof, the undersigned (a) will
be bound by the terms of the 364-Day Credit Agreement as fully and to the same
extent as if the undersigned were an original Lender under the 364-Day Credit
Agreement and (b) will perform in accordance with their terms all of the
obligations which by the terms of the Loan Documents are required to be
performed by it as a Lender.

 

This letter shall be binding upon, and inure to the
benefit of, the parties hereto and their respective successors and
assigns.  This letter may be executed in
any number of counterparts, which together shall constitute one
instrument.  Delivery of an executed
counterpart of a signature page of this letter by telecopy shall be
effective as delivery of a manually executed counterpart of this letter.  This letter shall be governed by, and
construed in accordance with, the law of the State of New York.

 

	
   

  	
  Very truly yours,

  
	
   

  	
   

  
	
   

  	
  [NAME OF NEW LENDER]

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Title:

  	
   

  
					

 

 

Acknowledged and consented to as of

                            ,
20      

 

JPMORGAN CHASE BANK, NATIONAL ASSOCIATION, as Administrative Agent

 

	
  By:

  	
   

  	
   

  
	
  Name:

  	
   

  	
   

  	 

	
  Title:

  	
   

  	
   

  
						

 

 

EXHIBIT F-1

 

BORROWING SUBSIDIARY AGREEMENT

 

[Date]

 

JPMorgan Chase Bank, National Association, as Administrative Agent

 

Attention:                             

 

Ladies and Gentlemen:

 

The undersigned, Bemis Company, Inc. (the “Company”), refers to
the Amended and Restated 364-Day Credit Agreement dated as of April 29,
2008 (as amended or otherwise modified from time to time, the “364-Day
Credit Agreement”) among the Company, the Borrowing Subsidiaries named
therein, the financial institutions from time to time party thereto and
JPMorgan Chase Bank, National Association, as Administrative Agent.  Capitalized terms used and not otherwise
defined herein shall have the meanings assigned to such terms in the 364-Day
Credit Agreement.

 

The Company requests that
                
(the “Designated Borrowing Subsidiary”) become a Borrowing Subsidiary under the
364-Day Credit Agreement effective on
                            .  The Company and the Designated Borrowing
Subsidiary make, on and as of the date of such effectiveness, the
representations and warranties as to the Designated Borrowing Subsidiary
contained in Article V of the 364-Day Credit Agreement.  The Designated Borrowing Subsidiary agrees to
be bound in all respects by the terms of the 364-Day Credit Agreement and to
perform all of the obligations of a Borrowing Subsidiary thereunder.  Each reference to a Borrowing Subsidiary in
the Agreement shall be deemed to include the Designated Borrowing Subsidiary.

 

All communications to the Designated Borrowing Subsidiary under the
364-Day Credit Agreement should be directed to the Company as set forth in the Section 13.1
of the 364-Day Credit Agreement.

 

This instrument shall be construed in accordance with and governed by
the laws of the State of New York.

 

Upon the execution of this Borrowing Subsidiary Agreement by the
Company and the Designated Borrowing Subsidiary [and the Lenders listed below]*
and acceptance hereof by the Administrative Agent, the Designated Borrowing
Subsidiary shall become a Borrowing Subsidiary under the 364-Day Credit
Agreement as though it were an original party thereto and shall be entitled to
borrow under the 364-Day Credit Agreement upon the satisfaction of the
conditions precedent set forth in Article IV of the 364-Day Credit
Agreement.

 

The Designated Borrowing Subsidiary will request Loans denominated in
[LIST AGREED CURRENCY].

 

 

*Insert only if not all Lenders will participate in Loans to the
Designated Borrowing Subsidiary.

 

 

	
   

  	
  Very truly yours,

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  BEMIS COMPANY, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name:

  	
   

  
	
   

  	
   

  	
  Title:

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  [DESIGNATED BORROWING 

  
	
   

  	
   

  	
  SUBSIDIARY]

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name:

  	
   

  
	
   

  	
   

  	
  Title:

  	
   

  
						

 

 

Accepted as of the date first above written.

JPMORGAN CHASE BANK, NATIONAL ASSOCIATION, as Administrative Agent

 

 

	
  By:

  	
   

  	
   

  
	
  Name:

  	
   

  	
   

  	 

	
  Title:

  	
   

  	
   

  
						

 

 

Attachment 1 to Borrowing Subsidiary
Agreement

 

Set forth below are the Lenders that will be BSub Lenders with respect
to the Designated Borrowing Subsidiary and the BSub Commitments and BSub
Percentages of such Lenders:

 

 

EXHIBIT
F-2

 

BORROWING SUBSIDIARY TERMINATION

 

[Date]

 

JPMorgan Chase Bank, National Association, as Administrative Agent

 

Attention:                     

 

Ladies and Gentlemen:

 

Bemis Company, Inc. (the “Company”), refers to the Amended
and Restated 364-Day Credit Agreement dated as of April 29, 2008 (as
amended or otherwise modified from time to time, the “364-Day Credit
Agreement”), among the Company, the Borrowing Subsidiaries named therein,
the financial institutions from time to time party thereto and JPMorgan Chase
Bank, National Association, as Administrative Agent.  Capitalized terms used and not otherwise
defined herein shall have the meanings assigned to such terms in the 364-Day
Credit Agreement.

 

The Company elects to terminate the status of
                  
(the “Terminated Borrowing Subsidiary”) as a Borrowing Subsidiary for
purposes of the 364-Day Credit Agreement.  The Company represents and warrants that no
Loans or Letters of Credit made to or issued for the account of the Terminated
Borrowing Subsidiary are outstanding as of the date hereof and that all
principal and interest on all Loans, and all reimbursement obligations with
respect to Letters of Credit payable by the Terminated Borrowing Subsidiary
pursuant to the 364-Day Credit Agreement have been paid in full on or prior to
the date hereof.

 

This instrument shall be construed in accordance with and governed by
the laws of the State of New York.

 

	
   

  	
  Very truly yours,

  
	
   

  	
   

  
	
   

  	
  BEMIS COMPANY, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name:

  	
   

  
	
   

  	
   

  	
  Title:

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