Document:

EX-10.1 Second Amended & Restated Credit Agreement

EXHIBIT 10.1

 

SECOND AMENDED AND RESTATED CREDIT AGREEMENT

Between

NEWBEVCO, INC.

And

COMERICA BANK

DATED AS OF JUNE 30, 2008

$50,000,000 Revolving Credit

 

 

 

TABLE OF CONTENTS

	 	 	 	 	 
	SECTION 1. DEFINITIONS
	 	 	1	 
	1.1 Defined Terms
	 	 	1	 
	 
	 	 	 	 
	SECTION 2. AMOUNT AND TERMS OF CREDIT
	 	 	12	 
	2.1 The Revolving Credit
	 	 	12	 
	2.2 [Intentionally deleted.]
	 	 	14	 
	2.3 Use of Proceeds of Revolving Credit
	 	 	15	 
	2.4 Interest Rate
	 	 	15	 
	2.5 Prepayment
	 	 	15	 
	2.6 Fees
	 	 	16	 
	 
	 	 	 	 
	SECTION 3. SECURITY AND GUARANTY
	 	 	16	 
	3.1 Security Interest
	 	 	16	 
	3.2 Guaranty
	 	 	17	 
	 
	 	 	 	 
	SECTION 4. REPRESENTATIONS AND WARRANTIES
	 	 	17	 
	4.1 Corporate Existence; Power; Compliance with Law; Restricted
Subsidiaries; Name History
	 	 	17	 
	4.2 Capital Stock; Parent; Subsidiaries
	 	 	17	 
	4.3 Corporate Power and Authorization to Execute Loan Documents;
No Conflict; No Consent
	 	 	18	 
	4.4 Enforceable Obligations
	 	 	19	 
	4.5 Financial Condition
	 	 	20	 
	4.6 No Litigation
	 	 	20	 
	4.7 Investment Company Act; Regulation
	 	 	20	 
	4.8 Disclosure and No Untrue Statements
	 	 	21	 
	4.9 Title to Assets; Leases in Good Standing
	 	 	21	 
	4.10 Investments. As of the date hereof, t
	 	 	22	 
	4.11 Payment of Taxes
	 	 	22	 
	4.12 Agreement or Contract Restrictions; No Default
	 	 	22	 
	4.13 Patents, Trademarks, Licenses, Etc
	 	 	22	 
	4.14 [RESERVED]
	 	 	23	 
	4.15 Compliance with ERISA; Multiemployer Plans
	 	 	23	 
	4.16 Compliance with Environmental Laws
	 	 	24	 
	4.17 Labor Relations
	 	 	25	 
	 
	 	 	 	 
	SECTION 5. CONDITIONS OF LENDING
	 	 	26	 
	5.1 Continuing Accuracy of Representations and Warranties
	 	 	26	 
	5.2 No Default
	 	 	26	 
	5.3 Opinion of the Borrower’s Counsel
	 	 	26	 
	5.5 Loan Documents
	 	 	26	 
	5.6 Supporting Documents
	 	 	26	 

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	SECTION 6. AFFIRMATIVE COVENANTS
	 	 	27	 
	6.1 Financial Reports and Other Information
	 	 	27	 
	6.2 Payment of Indebtedness to the Bank; Performance of other
Covenants; Payment of Other Obligations
	 	 	29	 
	6.3 Conduct of Business; Maintenance of Existence and Rights
	 	 	29	 
	6.4 Maintenance of Property
	 	 	29	 
	6.5 Right of Inspection; Discussions
	 	 	29	 
	6.6 Notices
	 	 	30	 
	6.7 Payment of Taxes; Liens
	 	 	31	 
	6.8 Insurance of Properties
	 	 	32	 
	6.9 True Books
	 	 	32	 
	6.10 Observance of Laws
	 	 	32	 
	6.11 Further Assurances
	 	 	32	 
	6.12 ERISA
	 	 	32	 
	6.13 Change of Name, Principal Place of Business, Office, or
Agent
	 	 	33	 
	6.14 Financial Covenants
	 	 	33	 
	 
	 	 	 	 
	SECTION 7. NEGATIVE COVENANTS
	 	 	33	 
	7.1 Limitations on Mortgages, Liens, Etc
	 	 	33	 
	7.2 Consolidation and Merger, Sale of Assets, Etc
	 	 	33	 
	7.3 Transfer and Sale of Assets; Sale and Leaseback
	 	 	34	 
	7.4 Payment Restrictions
	 	 	35	 
	7.5 Limitations on Distributions
	 	 	36	 
	7.6 [RESERVED]
	 	 	36	 
	7.7 Regulation U
	 	 	36	 
	7.8 Transactions with Affiliates
	 	 	36	 
	7.9 Limitation on Nature of Business
	 	 	36	 
	7.10 Restricted Subsidiaries
	 	 	36	 
	7.11 Changes in Governing Documents, Accounting Methods, Fiscal
Year
	 	 	37	 
	7.12 Limitation on Incurrence of Funded Debt
	 	 	37	 
	 
	 	 	 	 
	SECTION 8. EVENTS OF DEFAULT
	 	 	38	 
	8.1 Payment of Obligations Under Loan Documents
	 	 	38	 
	8.2 Representation or Warranty
	 	 	38	 
	8.3 Covenants under this Agreement
	 	 	38	 
	8.4 Other Covenants Under the Loan Documents
	 	 	38	 
	8.5 Payment, Performance, or Default of other Monetary
Obligations
	 	 	38	 
	8.6 Covenants or Defaults to the Bank or Others; Revocation of
Guaranty
	 	 	39	 
	8.7 Liquidation; Dissolution; Bankruptcy; Etc
	 	 	39	 
	8.8 Involuntary Bankruptcy, Etc
	 	 	39	 
	8.9 Judgments
	 	 	39	 
	8.10 Attachment, Garnishment, Liens Imposed by Law
	 	 	40	 
	8.11 ERISA
	 	 	40	 
	8.12 Corporate Existence
	 	 	40	 

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	SECTION 9. REMEDIES OF THE BANK
	 	 	40	 
	 
	 	 	 	 
	SECTION 10. CHANGES IN LAW OR CIRCUMSTANCES; INCREASED COSTS; PRICING GRID
	 	 	41	 
	10.1 Reimbursement of Prepayment Costs
	 	 	41	 
	10.2 Bank’s Eurocurrency Lending Office
	 	 	42	 
	10.3 Circumstances Affecting Eurocurrency-based Rate Availability

	 	 	42	 
	10.4 Laws Affecting Eurocurrency-based Advance Availability
	 	 	42	 
	10.5 Increased Cost of Eurocurrency-based Advances
	 	 	42	 
	10.6 Other Increased Costs
	 	 	43	 
	10.7 Margin Adjustment
	 	 	44	 
	 
	 	 	 	 
	SECTION 11. MISCELLANEOUS
	 	 	44	 
	11.1 Course of Dealing; Amendment; Supplemental Agreements
	 	 	44	 
	11.2 Waiver By the Bank of Requirements
	 	 	44	 
	11.3 Waiver of Default
	 	 	44	 
	11.4 Notices
	 	 	45	 
	11.5 No Waiver; Cumulative Remedies
	 	 	45	 
	11.6 Reliance Upon, Survival of, and Materiality of
Representations and Warranties, Agreements, and Covenants
	 	 	45	 
	11.7 Set-Off
	 	 	46	 
	11.8 Severability and Enforceability of Provisions
	 	 	46	 
	11.9 Payment of Expenses, Including Attorneys’ Fees and Taxes
	 	 	46	 
	11.10 Obligations Absolute
	 	 	47	 
	11.11 Successors and Assigns
	 	 	47	 
	11.12 Counterparts; Effective Date
	 	 	47	 
	11.13 Participations
	 	 	47	 
	11.14 Law of Michigan
	 	 	48	 
	11.15 Consent to Jurisdiction
	 	 	48	 
	11.16 Title and Headings; Table of Contents
	 	 	48	 
	11.17 Complete Agreement; No Other Consideration
	 	 	48	 
	11.18 Legal or Governmental Limitations
	 	 	48	 
	11.19 Interest
	 	 	48	 
	11.20 Independence of Covenants
	 	 	49	 
	11.21 Amendment and Restatement
	 	 	49	 
	11.22 WAIVER OF TRIAL BY JURY
	 	 	49	 

iii

 

SECOND AMENDED AND RESTATED CREDIT AGREEMENT

     This Second Amended and Restated Credit Agreement is made and entered into as of this
30th day of June, 2008, by and between NewBevCo, Inc., a Delaware corporation (the
“Borrower”) and Comerica Bank (the “Bank”).

RECITALS

     A. Borrower and Bank entered into that certain Amended and Restated Credit Agreement dated as
of December 10, 1998, as amended (the “Existing Credit Agreement”), establishing a revolving line
of credit in the amount of $20,000,000.

     B. Borrower has requested that Bank increase the revolving credit facility to $50,000,000 and
in connection therewith, Bank and Borrower desire to amend and restate the Existing Credit
Agreement as set forth below.

     NOW, THEREFORE, in consideration of the premises and the mutual agreements, covenants, and
conditions herein, the Borrower and the Bank agree that the Existing Credit Agreement is amended
and restated as follows:

SECTION 1. DEFINITIONS.

     1.1 Defined Terms. Except as otherwise expressly provided in this Agreement, the
capitalized terms used in the foregoing preamble and background sections and the following
capitalized terms shall have the respective meanings ascribed to them for all purposes of this
Agreement:

     “Advance” means a borrowing requested by Borrower and made by Bank under Section 2.1(a) of
this Agreement, including without limitation any readvance, refunding or conversion of such
borrowing pursuant to Section 2.1(c) hereof, and shall include, as applicable, a Eurocurrency-based
Advance and/or Prime-based Advance.

     “Affiliate” means with respect to any Person, any other Person (i) which, directly or
indirectly, through one or more intermediaries controls, or is controlled by, or is under common
control with, such Person or another Affiliate of such Person, (ii) which beneficially owns or
holds 10% or more of the shares of any class of the voting stock of such Person, or (iii) 10% or
more of the shares of any class of voting stock of which is beneficially owned or held of record by
such Person or any of its Subsidiaries. The term “control” means the possession, directly or
indirectly, of the power to direct or cause the direction of the management and policies of a
Person, whether through the ownership of voting stock, by contract, or otherwise. The term
“Affiliate,” when used herein without reference to any Person, shall mean an Affiliate of the
Borrower.

1

 

     “Agreement” means this Second Amended and Restated Credit Agreement, as the same may be
amended, restated, supplemented, or replaced from time to time in accordance with the provisions
hereof.

     “Applicable Facility Fee Percentage” shall mean, as of any date of determination thereof, the
applicable percentage used to calculate the facility fee due and payable under section 2.06(a) of
this Agreement determined by reference to the appropriate columns in the pricing grid attached to
this Agreement as Schedule 10.7, such Applicable Facility Fee Percentage to be adjusted solely as
specified in Section 10.7 hereof

     “Applicable Interest Rate” shall mean the Prime-based Rate or the Eurocurrency-based Rate as
selected by Borrower from time to time pursuant to the terms of this Agreement.

     “Applicable Letter of Credit Percentage” shall mean, as of any date of determination thereof,
the applicable percentage used to calculate fees due and payable hereunder with respect to Letters
of Credit determined by reference to the appropriate columns in the pricing grid attached to this
Agreement as Schedule 10.7, such Applicable Letter of Credit Percentage to be adjusted as provided
in Section 10.7 hereof.

     “Applicable Margin” shall mean, as of any date of determination thereof, the applicable
interest rate margin for the Eurocurrency-based Rate and the Prime-based Rate determined by
reference to the appropriate columns in the pricing grid attached to this Agreement as Schedule
10.7, such Applicable Margin to be adjusted as provided in Section 10.7 hereof.

     “Attributable Indebtedness” shall mean, as of the date of any determination thereof, with
respect to any Capital Lease under which any Person is a lessee, the sum of the present value of
the amount of each remaining payment of rent under the terms of such Capital Lease (including any
period for which the term of any such Capital Lease has been or may be, at the option of the
lessor, extended), as such amount would be reflected on the liability side of a balance sheet in
accordance with GAAP.

     “Bank” has the meaning specified in the first sentence hereof.

     “Barnett Loan Agreement” means that certain Credit Agreement dated as of September 23, 1993
between Borrower and Barnett Bank of Broward County, N.A. (now Bank of America, N.A.), as amended,
and as may be further amended, restated, supplemented or replaced from time to time.

     “Borrower” has the meaning specified in the first sentence hereof.

     “Business Day” means any day on which commercial banks are open for domestic and international
business in Detroit, London and New York.

     “Capital Lease” means any Lease or other agreement for the use of property which is required
to be capitalized on a balance sheet of the lessee or other user of property in accordance with
GAAP.

2

 

     “Code” means the Internal Revenue Code of 1986, as amended from time to time, and any
successor statute, together with the rules and regulations thereunder.

     “Committed Amount” has the meaning specified in Section 2.1(a) hereof.

     “Consolidated Depreciation Expense” means, for any fiscal period, without duplication, the
consolidated expense of the Borrower and its Restricted Subsidiaries during such fiscal period for
depreciation and amortization, determined in accordance with GAAP.

     “Consolidated EBITDA” means for any period, Consolidated Net Income for such period, plus,
without duplication and only to the extent reflected as a charge or reduction in the statement of
such Consolidated Net Income for such period, the sum of (a) Consolidated Income Tax Expense, (b)
Consolidated Interest Expense, and (c) Consolidated Depreciation Expense, in each case determined
in accordance with GAAP.

     “Consolidated Funded Debt” means at any date, the aggregate amount of all Funded Debt of the
Borrower and the Restricted Subsidiaries at such date, all as determined in accordance with GAAP.

     “Consolidated Income Tax Expense” means for any period the aggregate amount of taxes based on
the income or profits of Borrower and its Restricted Subsidiaries determined in accordance with
GAAP.

     “Consolidated Interest Expense” shall mean for any period the total interest expense
(including that attributable to Capital Leases) of Borrower and its Restricted Subsidiaries,
determined in accordance with GAAP.

     “Consolidated Net Income” means for any period, the consolidated net income (or loss) of the
Borrower and its Restricted Subsidiaries, determined on a consolidated basis in accordance with
GAAP; provided that there shall be excluded (a) the income (or deficit) of any Person accrued prior
to the date it becomes a Restricted Subsidiary or is merged into or consolidated with the Borrower
or any of its Subsidiaries, (b) the income (or deficit) of any Person (other than a Restricted
Subsidiary) in which any of its Subsidiaries has an ownership interest, except to the extent that
any such income is actually received by the Borrower or such Restricted Subsidiary in the form of
dividends or similar distributions, and (c) the undistributed earnings of any Subsidiary of the
Borrower to the extent that the declaration or payment of dividends or similar distributions by
such Subsidiary is not at the time permitted by the terms of any agreement (other than under any
Loan Document) or legal requirement applicable to such Subsidiary.

     “Consolidated Net Worth” means at any date, the total common shareholders’ equity of Borrower
and its Restricted Subsidiaries, as reflected on the most recent regularly prepared quarterly or
annual balance sheet of Borrower and such Restricted Subsidiaries, which balance sheet shall be
prepared in accordance with GAAP, minus all Investments of Borrower and its Restricted Subsidiaries
that are not Permitted Investments.

     “Default” means an event which with the giving of notice or passage of time, or both, would
constitute an Event of Default.

3

 

     “ERISA” means the Employee Retirement Income Security Act of 1974, as amended from time to
time and any successor statute, together with the rules and regulations thereunder.

     “ERISA Affiliate” means any Person which is under “common control” with the Borrower or any
Subsidiary (within the meaning of Section 414 (b) or (c) of the Code or Section 4001 (a) (14) of
ERISA).

     “ERISA Termination Event” means (a) a “reportable events (within the meaning of Section
4043(b) of ERISA) with respect to a Pension Plan (other than a “reportable event” as to which the
PBGC h(is by regulation waived the 30 day notice requirement under Section 4043 (a) of ERISA);
provided, however, that a failure to meet the minimum funding standards of Section 412 of the Code
shall be an ERISA Termination Event regardless of the issuance of any waiver under Section 412(d)
of the Code; (b) the withdrawal of the Borrower, any Subsidiary, or any ERISA Affiliate from a
Pension Plan during a plan year in which it was a “substantial employer” (within the meaning of
Section 4001 (a) (2) of ERISA) (c) the complete or partial withdrawal of the Borrower, any
Subsidiary, or any ERISA Affiliate from a Multiemployer Plan under Section 4201 or 4204 or ERISA;
(d) the receipt by the Borrower, any Subsidiary, or any ERISA Affiliate of notice from a
Multiemployer Plan that is in reorganization or insolvent under Section 4241 or 4245 of ERISA or
that it intends to terminate or has terminated under Section 4041A of ERISA; (e) the providing of a
notice of intent to terminate a Pension Plan pursuant to Section 4041(a) (2) of ERISA or the
treatment of a Pension Plan amendment as a termination under Section 4041(e) of ERISA; (f) the
institution of proceedings by the PBGC to terminate a Pension Plan or the appointment of a trustee
to administer any Pension Plan under Section 4042 of ERISA; (g) the receipt by the Borrower, any
Subsidiary, or any ERISA Affiliate of a notice from any Multiemployer Plan that any action
described in clause (f) has been taken with respect to that Multiemployer Plan; or (h) any other
event or condition which might constitute grounds under Section 4042 of ERISA for the termination
of, or the appointment of a trustee to administer, any Pension Plan.

     “Eurocurrency-based Advance” means an Advance which bears interest at the Eurocurrency-based
Rate.

     “Eurocurrency-based Rate” means, with respect to any Eurocurrency-Interest Period, the per
annum interest rate which is equal to the sum of the Applicable Margin plus the quotient of:

	 	(A)	 	the per annum interest rate at which deposits in eurocurrency are offered to
Bank’s Eurocurrency Lending Office by other prime banks in the eurocurrency market in
an amount comparable to the relevant Eurocurrency-based Advance and for a period equal
to the relevant Eurocurrency-Interest Period at approximately 11:00 a.m. Detroit time
two (2) Business Days prior to the first day of such Eurocurrency-Interest Period,
divided by
	 
	 	(B)	 	an amount equal to one minus the stated maximum rate (expressed as a decimal)
of all reserve requirements (including, without limitation, any marginal, emergency,
supplemental, special or other reserves) that is specified on the first day of such
Eurocurrency-Interest Period by the Board of Governors of the Federal Reserve System
(or any successor agency thereto) for determining the

4

 

	 	 	 	maximum reserve requirement with respect to eurocurrency funding (currently referred
to as “eurocurrency liabilities” in Regulation D of such Board) maintained by a
member bank of such System,

all as conclusively determined (absent manifest error) by the Bank.

     “Eurocurrency-Interest Period” means the Interest Period applicable to a Eurocurrency-based
Advance.

     “Eurocurrency Lending Office” means Bank’s office located at Grand Cayman, British West Indies
or such other branch or branches of Bank, domestic or foreign, as it may hereafter designate as a
Eurocurrency Lending Office by notice to Borrower.

     “Event of Default” means any of the events specified in Section 8 hereof.

     “Exchange Act” means the Securities and Exchange Act of 1934, as amended from time to time.

     “Federal Funds Effective Rate” means, for any day, a fluctuating 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, as published for such day (or, if such
day is not a Business Day, for the next 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 for such day on such transactions received by Bank from three Federal funds brokers of
recognized standing selected by it, all as conclusively determined by the Bank, such sum to be
rounded upward, if necessary, to the nearest whole multiple of 1/16th of 1%.

     Funded Debt” of any Person means (a) all indebtedness of such Person for borrowed money or for
the deferred purchase price of property or services as of such date (other than operating leases
and trade liabilities incurred in the ordinary course of business) or which is evidenced by a note,
bond, debenture or similar instrument, (b) the principal component of all obligations of such
person under Capital Leases, (c) all reimbursement obligations (actual, contingent or otherwise) of
such Person in respect of letters of credit, acceptances or similar obligations issued or created
for the account of such Person, (d) all liabilities secured by any liens on any property owned by
such Person as of such date even though such Person has not assumed or otherwise become liable for
the payment thereof, in each case determined in accordance with GAAP; provided, however, that so
long as such Person is not personally liable for such liabilities, the amount of such liability
shall be deemed to be the lesser of the fair market value at such date of the property subject to
the lien securing such liability and the amount of the liability secured, and (e) all Guarantee
Obligations in respect of any liability which constitutes Funded Debt.

     “GAAP” shall mean generally accepted accounting principles in the United States of America, as
in effect on the date hereof, consistently applied.

     “Guaranty” and “Guaranties” have the meaning specified in Section 3.2 hereof.

5

 

     “Guarantee Obligation” shall mean as to any Person (the “guaranteeing person”) any obligation
of the guaranteeing person in respect of any obligation of another Person (including, without
limitation, any bank under any letter of credit), the creation of which was induced by a
reimbursement agreement, counter indemnity or similar obligation issued by the guaranteeing person,
in either case guaranteeing or in effect guaranteeing any Debt, leases, dividends or other
obligations (the “primary obligations”) of any other third Person (the “primary obligor”) in any
manner, whether directly or indirectly, including, without limitation, any obligation of the
guaranteeing person, whether or not contingent, (i) to purchase any such primary obligation or any
property constituting direct or indirect security therefor, (ii) to advance or supply funds (1) for
the purchase or payment of any such primary obligation or (2) to maintain working capital or equity
capital of the primary obligor or otherwise to maintain the net worth or solvency of the primary
obligor, (iii) to purchase property, securities or services primarily for the purpose of assuring
the owner of any such primary obligation of the ability of the primary obligor to make payment of
such primary obligation or (iv) otherwise to assure or hold harmless the owner of any such primary
obligation against loss in respect thereof; provided, however, that the term Guarantee Obligation
shall not include endorsements of instruments for deposit or collection in the ordinary course of
business. The amount of any Guarantee Obligation of any guaranteeing person shall be deemed to be
the lower of (a) an amount equal to the stated or determinable amount of the primary obligation in
respect of which such Guarantee Obligation is made and (b) the maximum amount for which such
guaranteeing person may be liable pursuant to the terms of the instrument embodying such Guarantee
Obligation, unless such primary obligation and the maximum amount for which such guaranteeing
person may be liable are not stated or determinable, in which case the amount of such Guarantee
Obligation shall be such guaranteeing person’s maximum reasonably anticipated liability in respect
thereof as determined by the Credit Parties in good faith.

     “Interest Period” means, with respect to a Eurocurrency-based Advance, one (1), two (2), three
(3) or six (6) months (or any lesser or greater number of days agreed to in advance by Borrower and
Bank) as selected by Borrower pursuant to Section 2.1, provided, however, that any
Eurocurrency-Interest Period which commences on the last Business Day of a calendar month (or on
any day for which there is no numerically corresponding day in the appropriate subsequent calendar
month) shall end on the last Business Day of the appropriate subsequent calendar month. Each
Interest Period which would otherwise end on a day which is not a Business Day shall end on the
next succeeding Business Day or, if such next succeeding Business Day falls in the next succeeding
calendar month, on the next preceding Business Day, and no Interest Period which would end after
the Termination Date shall be permitted with respect to any Advance.

     “Investment” means any loan, advance, or extension of credit, without duplication (except for
accounts and notes receivable for merchandise sold or services furnished in the ordinary course of
business, and amounts paid in advance on account of the purchase price of merchandise to be
delivered to the payor within one year of the date of the advance), or purchase of stock, notes,
bonds, or other securities, evidences of indebtedness, or property not used in the business
activities of the Borrower or a Restricted Subsidiary, or capital contribution to any Person,
whether in cash or other property.

     “IRS” means the Internal Revenue Service or any successor thereof.

6

 

     “Lease” means any lease of property, whether real, personal, or mixed, with a remaining term
of at least one year (including any period for which such lease is renewable at the option of the
lessor) other than leases between the Borrower and its Restricted Subsidiaries and leases between
Restricted Subsidiaries.

     “Letter of Credit” shall have the meaning set forth in Section 2.1(f) of this Agreement.

     “Letter of Credit Documents” shall have the meaning set forth in Section 2.1(f) of this
Agreement.

     “Letter of Credit Reserve” shall mean as of any date of determination thereof, an amount equal
to the undrawn amount of all Letters of Credit plus the unreimbursed amount of any draws under
Letters of Credit honored by Bank.

     “Lien” means any interest in property securing an obligation owed to, or a claim by, any
Person other than the owner of the property, whether such interest shall be based on the common
law, civil law, statute, civil code, or contract, whether or not such interest shall be recorded or
perfected, and whether or not such interest shall be contingent upon the occurrence of some future
event or events or the existence of some future circumstance or circumstances, and including the
lien, privilege, security interest, or other encumbrance arising from a mortgage, deed of trust,
hypothecation, transfer, assignment, pledge, adverse claim or charge, conditional sale, or trust
receipt, or from a lease, consignment, or bailment for security purposes. The term “Lien” also
includes reservations, exceptions, encroachments, easements, rights-of-way, covenants, conditions,
restrictions, leases, and other title exceptions and encumbrances affecting property. For the
purposes of this Agreement, a Person shall be deemed to be the owner of any property that such
Person shall have acquired or shall hold subject to a conditional sale agreement or other
arrangement (including a leasing arrangement) pursuant to which title to the property shall have
been retained by or vested in some other Person for security purposes.

     “Loan Documents” means this Agreement, the Revolving Credit Note, the Letter of Credit
Documents, the Guaranties, the Documentary Stamp Tax and Intangible Tax Indemnification Agreement,
the Environmental Certificate and each of the Security Documents delivered to Bank at any time
after the date hereof.

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

     “Multiemployer Plan” means any Plan that is a “multiemployer plan” (within the meaning of
Section 4001(a)(3) of ERISA).

     “Parent” means National Beverage Corp., a Delaware corporation.

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

     “Pension Plan” means any Plan that is an “employee pension benefit plan” (within the meaning
of Section 3 (2) of ERISA).

     “Permitted Acquisition” shall mean any acquisition (including by way of merger or
consolidation) by Borrower or any Restricted Subsidiary of all or substantially all of the assets
of

7

 

another Person, or of a division or line of business of another Person, or capital stock or
other equity interests of another Person, which is conducted in accordance with the following
requirements:

     (a) Both immediately before and after such acquisition, no Default or Event of Default shall
have occurred and be continuing; and

     (b) The board of directors (or other Person(s) exercising similar functions) of the seller of
the assets or issuer of the capital stock or other equity interests being acquired shall not have
disapproved such transaction or recommended that such transaction be disapproved.

     “Permitted Investment” means any of the following Investments:

     (a) Marketable direct obligations issued or unconditionally guaranteed by the United States of
America or any agency thereof and maturing within one year from the date of acquisition thereof;

     (b) Commercial paper of any corporation incorporated in the United States of America having
(i) a rating of “A-1” or better by S&P or “P-1” or better by Moody’s and (ii) combined capital,
surplus, and undivided profits of not less than $100,000,000.00;

     (c) Certificates of deposit, repurchase agreements, bankers acceptances, eurocurrency
deposits, and yankee certificates of deposit (i) in an amount not in excess of the maximum amount
of insurance provided by the Federal Deposit Insurance Corporation, or (ii) issued by commercial
banks or trust companies incorporated under the laws of the United States of America, each being a
member of the Federal Deposit Insurance Corporation and having unsecured long-term debt that is
rated “A-” or better by S&P or “A3” or better by Moody’s;

     (d) Readily marketable debt securities issued by any state or municipality within the United
States or any political subdivision, agency, or instrumentality thereof maturing within twelve
months or less of the date of acquisition and rated “MIG-1” or better by Moody’s;

     (e) Investments in so-called “money market funds” registered under the Investment Company Act
of 1940, as amended, and organized under the laws of the United States of America or any
jurisdiction thereof, having total net assets of at least $100,000,000.00 and investing primarily
in Investments of the types specified in clauses (a), (b), (c), and/or (d), but in each case
without limitation as to maturity (so that it may reasonably be expected that at any time at least
80% of its invested funds will be invested in such Investments);

     (f) Trust certificates or other instruments evidencing an ownership interest in debt
securities held by a trustee or custodian and meeting the requirements of clause (d) hereof (except
as to maturity), so long as the holder thereof has the right, at least as often as every thirty
(30) days, to cause the purchase of such trust certificate or other instrument by a bank which
meets the requirements of clause (c) hereof;

     (g) Investments in (i) any Restricted Subsidiary or (ii) any corporation which, simultaneously
therewith, becomes a Restricted Subsidiary and which, in either case, is a Guarantor;

8

 

     (h) Investments in joint ventures as to which:

     (i) no party to such joint venture (other than the entity created by such joint
venture) shall be an Affiliate of the Borrower;

     (ii) the entity created by such joint venture shall not engage in any line of business
other than the lines of business in which the Borrower may engage pursuant to Section 7.9
hereof; and

     (iii) the aggregate amount of the Borrower’s Investment in such joint venture shall not
exceed the greater of $5,000,000 and 20% of Consolidated Net Worth.

     (i) Other Investments held by the Borrower or any Restricted Subsidiary on the date of this
Agreement and described on Schedule 1.1.C hereto.

     “Permitted Liens” means:

     (a) Liens existing on the date of this Agreement which are: (i) described in Schedule 1.1.A
hereto; or (ii) individually in each case, on property with a book value of less than $30,000 and
in the aggregate on property with a book value not exceeding $1,000,000 and which do not secure
Funded Debt;

     (b) Liens securing taxes, assessments, governmental charges or levies or the claims or
carriers, warehousemen, materialmen, mechanics and other like Persons not yet due or the payment of
which is not then required by this Agreement; provided, however, that this clause (b) shall not be
deemed to permit any Liens which may be imposed pursuant to Section 4068 of ERISA or Section 412(n)
of the Code;

     (c) Liens incidental to the ordinary course of business or the ownership of properties and
assets, including, without limitation, (i) Liens, deposits, or pledges securing the performance of
bids, tenders, leases, or trade contracts, (ii) Liens securing statutory obligations (including
those arising under workers compensation, unemployment insurance, and other social security
legislation), (iii) Liens to secure the performance of surety and appeal bonds, performance bonds,
and other similar obligations; provided, however, that (A) any such Lien shall not be created in
connection with and shall not secure Funded Debt; (B) any obligation secured by any such Lien shall
not be overdue or, if overdue, is being contested in good faith by appropriate actions or
proceedings during which there is no right on the part of the secured party to seize, take
possession of or sell or cause the sale of the property subject to such Lien, and adequate book
reserves have been established in accordance with GAAP; and (C) all such Liens, pledges, and
deposits shall not in the aggregate materially impair the use or diminish the value of the
properties of the Borrower or any Restricted Subsidiary in the operation of the respective
businesses of the Borrower and the Restricted Subsidiaries provided, further, that this clause (C)
shall not be deemed to permit any Liens which may be imposed pursuant to Section 4068 of ERISA or
Section 412(n) of the Code; or (iv) other Liens not in excess of 10% of Consolidated Net Worth;

     (d) [RESERVED];

9

 

     (e) Minor survey exceptions and minor encumbrances, easements, or reservations, or rights of
others for rights-of-way, utilities and other similar purposes, or zoning or other restrictions as
to the use of real properties, which are necessary for the conduct of the activities of the
Borrower and the Restricted Subsidiaries or which customarily exist on properties of corporations
engaged in similar activities and similarly situated and which do not in any event materially
impair the use or diminish the value of any of such properties in the operation of the businesses
of the Borrower and the Restricted Subsidiaries;

     (f) Liens originally created to secure payment of a portion of the purchase price relating to
fixed assets or equipment which the Borrower or any Restricted Subsidiary acquires after the date
hereof from a non-affiliate, provided, however, that (i) no such Lien shall extend to any other
property of the Borrower or any Restricted Subsidiary; (ii) the outstanding principal amount of
indebtedness secured by any such Lien shall not exceed 100% of the cost of the property subject to
such Lien;

     (g) Liens securing indebtedness of a corporation outstanding on the date such corporation (i)
is designated as a Restricted Subsidiary pursuant to the provisions of this Agreement, (ii) merges
into or consolidates with the Borrower or any Restricted Subsidiary pursuant to the provisions of
Section 7.3 hereof, or (iii) is acquired by the purchase of all or substantially all of such
corporation’s assets and the assumption of such indebtedness of such corporation by the Borrower or
any Restricted Subsidiary; provided, however, that such Liens are not applicable to the Borrower or
any previously designated Restricted Subsidiary or the assets (other than the acquired assets) of
the Borrower or any previously designated Restricted Subsidiary; provided, further, that none of
such Liens is created prior to and in anticipation of such designation, merger, consolidation, or
acquisition;

     (h) Liens which may arise to secure Indebtedness incurred under the Barnett Loan Agreement as
a result of security interests granted Bank in accordance with clause (ii) of Section 3.1(b), so
long as property of the Borrower and/or Restricted Subsidiaries is subjected to such Liens in
compliance with the provisions of this Agreement; and

     (i) The extension, renewal, or replacement of any Lien specified in the foregoing clauses (a)
through (h); provided, however that (i) no property shall become subject to such extended, renewal,
or replacement Lien that was not subject to the Lien extended, renewed, or replaced; (ii) the
aggregate principal amount of Indebtedness secured by any such extended, renewed, or replacement
Lien shall not be increased by such extension, renewal, or replacement; (iii) the Indebtedness
secured by such Lien could be incurred in compliance with the applicable limitations of this
Agreement at the time of such extension, renewal, or replacement; and (iv) after giving effect
thereto, no Event of Default shall exist.

     “Person” means any corporation, business entity, natural person, firm, joint venture,
partnership, trust, unincorporated organization, association, government, or any department or
agency of any government.

     “Plan” means any “employee benefit plan” (within the meaning of Section 3 (3) of ERISA) that
the Borrower, any Subsidiary, or any ERISA Affiliate maintains, contributes to, or

10

 

is obligated to contribute to for the benefit of employees or former employees of the
Borrower, any Subsidiary, or any ERISA Affiliate.

     “Prime-based Advance” means an Advance which bears interest at the Prime-based Rate.

     “Prime-based Rate” means for any day, that rate of interest which is equal to the greater of
(i) the Applicable Margin plus the Prime Rate or (ii) one percent (1%) plus the Federal
Funds Effective Rate.

     “Prime Rate” means the per annum rate of interest announced by Bank, at its main office from
time to time as its “prime rate” (it being acknowledged that such announced rate may not
necessarily be the lowest rate charged by Bank, to any of its customers), which Prime Rate shall
change simultaneously with any change in such announced rate.

     “Responsible Officer” means the Chief Executive Officer, Chief Operating Officer, Chief
Financial Officer or Chief Accounting Officer of the Borrower.

     “Restricted Subsidiary” means the Subsidiaries designated as “Restricted Subsidiaries” in
Schedule 1.1.B hereto, and any other Subsidiary that may be designated as a Restricted Subsidiary
by resolution of the board of directors of the Borrower so long as (i) such Subsidiary conducts
substantially all of its business and owns substantially all of its property within the United
States or such other location as is consented to by the Bank, and (ii) at least eighty percent
(80%) of each class of the voting stock and one hundred percent (100%) of the preferred stock of
such Subsidiary is legally and beneficially owned by the Borrower; provided, however, that any such
designation of a Subsidiary as a Restricted Subsidiary shall not be effective unless the provisions
of Section 7.10 hereof shall have been complied with. Once a Subsidiary becomes a Restricted
Subsidiary, it may not thereafter become an Unrestricted Subsidiary.

     “Revolving Credit” means the revolving credit loan to be advanced to the Borrower by Bank
pursuant to Section 2.1 of this Agreement, in an aggregate amount, not to exceed, at any one time
outstanding, the Committed Amount.

     “Revolving Credit Note” means the revolving credit note described in Section 2.1 hereof, made
by Borrower payable to Bank, in the form annexed to this Agreement as Exhibit “A”, as such note may
be amended or supplemented from time to time, and other note issued in substitution, replacement or
renewal thereof from time to time.

     “S&P” means Standard & Poor’s Corporation.

     “Sale Leaseback Transaction” has the meaning specified in Section 7.3(b) hereof.

     “SEC” means the Securities and Exchange Commission, or any successor organization.

     “Security Documents” has the meaning set forth in Section 3.1(b) hereof.

     “Subsidiary” means, for any Person, any corporation, partnership, or other entity of which
more than fifty percent (50%) of the securities or other ownership interests having ordinary voting
power to elect the board or directors or having direct power to perform functions

11

 

similar to that of a board of directors is at the time directly or indirectly owned or
controlled by such Person. Unless the context clearly indicates otherwise, the term, “Subsidiary”
refers to a subsidiary of the Borrower.

     “Substantial Sale of Assets” means the sale of any assets of the Borrower or any Restricted
Subsidiary out of the ordinary course of business which, when aggregated with the proceeds of all
such asset sales by the Borrower and any Restricted Subsidiary after the date hereof, exceeds 50%
of the total consolidated tangible assets of the Borrower and its Restricted Subsidiaries on the
date hereof, as determined in accordance with GAAP.

     “Tax Sharing Agreement” means the Tax Sharing Agreement dated as of June 1, 1992, between the
Borrower and the Parent as presently in effect and any similar agreement approved in writing by the
Bank. The Borrower will not, nor will it permit any Restricted Subsidiary to, amend or supplement
any provision of a Tax Sharing Agreement without the prior written consent of the Bank, which
consent will not be unreasonably withheld.

     “Termination Date” means April 30, 2013, subject to the provisions of Section 9 hereof.

     “Unrestricted Subsidiary” means a Subsidiary which is not a Restricted Subsidiary.

     “Voting Stock” means with respect to a corporation, the stock of such corporation the holders
of which are ordinarily, in the absence of contingencies, entitled to elect members of the board of
directors (or other governing body) of such corporation, and with respect to any partnership, the
partnership interests in such partnership the owners of which are entitled to manage the management
of the affairs of the partnership or the designation of another Person as the Person entitled to
manage the affairs the partnership (it being understood that, in the case of any partnership,
“shares of Voting Stock” shall refer to such partnership interests).

     1.2 Other Definitional Provisions.

     (a) The terms “material” and “materially” shall have the meanings ascribed to such terms under
GAAP as such would be applied to the business of the Borrower or others, except as the context
shall clearly otherwise require; (b) all of the terms defined in this Agreement shall have such
defined meanings when used in other documents issued under, or delivered pursuant to, this
Agreement unless the context shall otherwise require; (c) all terms defined in this Agreement in
the singular shall have comparable meanings when used in the plural, and vice versa; (d) accounting
terms to the extent not otherwise defined shall have the respective meanings given them under, and
shall be construed in accordance with GAAP; (e) “hereof,” “herein,” “hereunder” and words of
similar import when used in this Agreement shall refer to this Agreement as a whole and not to any
particular provision of this Agreement; (f) the masculine and neuter genders are used herein and
whenever used shall include the masculine, feminine, and neuter as well; and (g) whenever in this
Agreement any of the parties hereto is referred to, such reference shall be deemed to include the
successors and assigns of such parties unless the context shall expressly provide otherwise.

SECTION 2. AMOUNT AND TERMS OF CREDIT.

     2.1 The Revolving Credit.

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     (a) Revolving Credit Commitment. Subject to the terms and conditions of this
Agreement, Bank agrees to make Advances of the Revolving Credit to Borrower from time to time on
any Business Day during the period from the effective date hereof until (but excluding) the
Termination Date in an aggregate amount not to exceed at any one time outstanding Fifty Million
Dollars ($50,000,000) (the “Committed Amount”). All of such Advances hereunder shall be evidenced
by the Revolving Credit Note, under which advances, repayments and readvances may be made, subject
to the terms and conditions of this Agreement.

     (b) Accrual of Interest and Maturity. The Revolving Credit Note, and all principal and
interest outstanding thereunder, shall mature and become due and payable in full on the Termination
Date, and each Advance evidenced by the Revolving Credit Note from time to time outstanding
hereunder shall, from and after the date of such Advance, bear interest at its Applicable Interest
Rate. The amount and date of each Revolving Credit Advance, its Applicable Interest Rate, its
Interest Period (if any), and the amount and date of any repayment shall be noted on Bank’s
records, which records will be conclusive evidence thereof, absent manifest error; provided,
however, that any failure by the Bank to record any such information shall not relieve Borrower of
its obligation to repay the outstanding principal amount of such Advance, all interest accrued
thereon and any amount payable with respect thereto in accordance with the terms of this Agreement
and the other Loan Documents.

     (c) Requests for Advances and Requests for Refundings and Conversions of Advances.
Borrower may request an Advance, refund any Advance in the same type of Advance or convert any
Advance to any other type of Advance only after delivery to Bank of a Request for Advance executed
by an authorized officer of Borrower, subject to the following and to the remaining provisions
hereof:

     (i) each such Request for Advance shall set forth the information required on the
Request for Advance form annexed hereto as Exhibit “B”, including without limitation:

	 	(A)	 	the proposed date of the Advance, which must be
a Business Day;
	 
	 	(B)	 	whether the Advance is a refunding or
conversion of an outstanding Advance; and
	 
	 	(C)	 	whether such Advance is to be a Prime-based
Advance or a Eurocurrency-based Advance, and, except in the case of a
Prime-based Advance, the first Interest Period applicable thereto;

     (ii) each such Request for Advance shall be delivered to Bank by 11:00 a.m. (Detroit
time) two (2) Business Days prior to the proposed date of Advance, except in the case of a
Prime-based Advance, for which the Request for Advance must be delivered by 10 a.m. (Detroit
time) on such proposed date;

     (iii) the principal amount of such requested Advance plus the principal amount of all
other Advances then outstanding hereunder, plus the Letter of Credit Reserve, shall not
exceed the Committed Amount;

13

 

     (iv) the principal amount of such Advance, plus the amount of any other outstanding
indebtedness under this Agreement to be then combined therewith having the same Applicable
Interest Rate and Interest Period, if any, shall be at least Two Hundred Fifty Thousand
Dollars ($250,000) or a larger integral multiple of Fifty Thousand Dollars ($50,000) and at
any one time there shall not be in effect more than ten (10) Interest Periods;

     (v) each Request for Advance, once delivered to Bank, shall not be revocable by
Borrower, and shall constitute and include a certification by the Borrower as of the date
thereof that:

	 	(A)	 	both before and after the Revolving Credit
Advance, the obligations of the Borrower and Restricted Subsidiaries
set forth in this Agreement are valid, binding and enforceable
obligations of such parties;
	 
	 	(B)	 	to the best knowledge of Borrower all
conditions to Advances of the Revolving Credit have been satisfied; and
	 
	 	(C)	 	both before and after the Advance, there is no
Default or Event of Default in existence.

     (d) Prime-based Advance in Absence of Election or Upon Default. If, as to any
outstanding Eurocurrency-based Advance, Bank has not received payment on the last day of the
Interest Period applicable thereto, or does not receive a timely Request for Advance meeting the
requirements of this Section 2.1 with respect to the refunding or conversion of such Advance, or,
subject to Section 2.4(d) hereof, if on such day a Default or Event of Default shall have occurred
and be continuing, the principal amount thereof which is not then prepaid shall be converted
automatically to a Prime-based Advance and Bank shall thereafter promptly notify Borrower of said
action.

     (e) [Intentionally deleted.]

     (f) Subject to the terms and conditions of this Agreement, Bank agrees to issue, or commit to
issue, from time to time, standby letters of credit for the account of Borrower (herein
individually called a “Letter of Credit” and collectively “Letters of Credit”) in aggregate undrawn
amounts not to exceed Five Million Dollars ($5,000,000) at any one time outstanding; provided,
however, that the sum of the aggregate amount of Advances outstanding under the Revolving Credit
Note plus the Letter of Credit Reserve shall not exceed the Committed Amount at any time; and
provided further that no Letter of Credit shall, by its terms, have an expiration date which is
more than twelve (12) months after issuance or which extends beyond the Termination Date. In
addition to the terms and conditions of this Agreement, the issuance of any Letters of Credit also
shall be subject to the terms and conditions of any letter of credit applications and agreements
(“Letter of Credit Documents”) executed and delivered by Borrower to Bank with respect thereto.
Borrower shall pay to Bank annually in advance a fee equal to the Applicable Letter of Credit
Percentage per annum of the amount of each Letter of Credit.

     2.2 [Intentionally deleted.]

14

 

     2.3 Use of Proceeds of Revolving Credit. The proceeds of the initial Advance under
the Revolving Credit Note shall be used to renew and extend the indebtedness outstanding under the
Existing Credit Agreement. The proceeds of all further Advances shall be used for working capital
needs, capital expenditures, Permitted Acquisitions, and other lawful corporate purpose of
Borrower, subject to the terms and conditions of this Agreement.

     2.4 Interest Rate.

     (a) Prime-based Interest Payments. Interest on the unpaid balance of all Prime-based
Advances from time to time outstanding shall accrue from the date of such Advances to the
Termination Date (and until paid), at a per annum interest rate equal to the Prime-based Rate, and
shall be payable in immediately available funds on the first day of each calendar quarter,
commencing with the first such date after the initial Advance hereunder. Interest accruing at the
Prime-based Rate shall be computed on the basis of a 360 day year and assessed for the actual
number of days elapsed, and in such computation effect shall be given to any change in the interest
rate resulting from a change in the Prime-based Rate on the date of such change in the Prime-based
Rate.

     (b) Eurocurrency-based Interest Payments. Interest on each Eurocurrency-based Advance
having a related Eurocurrency-Interest Period of 3 months or less shall accrue at its
Eurocurrency-based Rate and shall be payable in immediately available funds on the last day of the
Interest Period applicable thereto. Interest shall be payable in immediately available funds on
each Eurocurrency-based Advance outstanding from time to time having a Eurocurrency-Interest Period
of more than 3 months, at intervals of 3 months after the first day of the applicable Interest
Period, and shall also be payable on the last day of the Interest Period applicable thereto.
Interest accruing at the Eurocurrency-based Rate shall be computed on the basis of a 360 day year
and assessed for the actual number of days elapsed from the first day of the Interest Period
applicable thereto to, but not including, the last day thereof.

     (c) Interest Payments on Conversions. Notwithstanding anything to the contrary in
Section 2.4(a) or (b), all accrued and unpaid interest on any Advance refunded or converted
pursuant to Section 2.1(c) hereof shall be due and payable in full on the date such Advance is
refunded or converted.

     (d) Interest on Default. Notwithstanding anything to the contrary set forth in Section
2.4(a), (b) or (c), in the event and so long as any Event of Default shall exist under this
Agreement, interest shall be payable daily on the principal amount of all Advances from time to
time outstanding (and on all other monetary obligations of Borrower hereunder and under the other
Loan Documents) at a per annum rate equal to the Applicable Interest Rate in respect of each such
Advance, plus, in the case of Eurocurrency-based Advances, three percent (3%) per annum for the
remainder of the then existing Interest Period (but only so long as any Event of Default shall
continue to exist), if any, and at all other such times and for all Prime-based Advances, at a per
annum rate equal to the Prime-based Rate, plus three percent (3%).

     2.5 Prepayment. Borrower may prepay all or part of the outstanding balance of any
Prime-based Advance(s) (subject to not less than one (1) Business Day’s notice to Bank) at any
time, provided that the amount of any partial prepayment shall be at least Two Hundred Fifty

15

 

Thousand Dollars ($250,000) and the aggregate balance of Prime-based Advance(s) remaining
outstanding under the Revolving Credit Note shall be at least Two Hundred Fifty Thousand Dollars
($250,000). Borrower may prepay all or part of any Eurocurrency-based Advance (subject to not less
than three (3) Business Days’ notice to Bank) only on the last day of the Interest Period
applicable thereto, provided that the amount of any such partial prepayment shall be at least Two
Hundred Fifty Thousand Dollars ($250,000), and the unpaid portion of such Advance which is refunded
or converted under Section 2.1(c) shall be at least Two Hundred Fifty Thousand Dollars ($250,000).
Any prepayment made in accordance with this Section 2.5 shall be without premium, penalty or
prejudice to the right to reborrow under the terms of this Agreement. Any other prepayment of all
or any portion of the Revolving Credit, whether by acceleration, mandatory or required prepayment
or otherwise, shall be subject to Section 10 hereof, but otherwise without premium, penalty or
prejudice.

     2.6 Fees. As consideration for making the Revolving Credit available, the Borrower
shall pay to the Bank a non-refundable quarterly facility fee in an amount equal to the Applicable
Facility Fee Percentage times the Committed Amount. Such fee shall be payable quarterly in arrears
beginning on September 30, 2008 and continuing on the last day of each December, March, September
and June thereafter, and on the Termination Date.

SECTION 3. SECURITY AND GUARANTY.

     The obligations and liabilities of the Borrower hereunder and under the Loan Documents shall
be secured and guaranteed as provided in this Section 3, subject to the provisions set forth below.

     3.1 Security Interest.

     (a) The Revolving Credit Note shall be unsecured except as provided for in Section 3.1(b)
below.

     (b) (i) In the event that any real or personal property of the Borrower becomes subject to a
Lien (in violation of this Agreement) which is not a Permitted Lien and which Lien is not removed
within thirty days of Borrower’s receipt of notice of any Lien (and without regard to any
additional cure period) or (ii) upon the occurrence of any Event of Default which has not otherwise
been cured or waived at any time, the Bank shall have the right after written notice to Bank of
America, N.A., successor by merger to Barnett Bank of Broward County, N.A. (with a copy to
Borrower) to become secured by a first perfected (as set forth below) security interest in and
mortgage of all the real and personal property of the Borrower now owned or hereafter acquired or
arising, and all proceeds thereof. The Borrower shall execute and deliver to the Bank such
mortgages and security agreements as the Bank shall require and as are customary for a transaction
of that type, covering said real and personal property in form and substance satisfactory to the
Bank (the “Security Documents”), securing the foregoing obligations to the full extent permitted
under applicable law. The Security Documents shall be sufficient, when notice thereof is properly
filed or recorded in the appropriate jurisdictions, to grant to the Bank a first perfected security
interest in and lien on the Borrower’s property, subject to no prior Liens or encumbrances except
as expressly permitted herein, except the equal and ratable lien, if any, to be granted pursuant to
the Barnett Loan Agreement, or except as the Bank permits in writing.

16

 

The Borrower agrees to execute or otherwise provide to the Bank any and all financing
statements, modifications, and other agreements or consents required by the Bank now or in the
future to perfect Bank’s interest in the collateral and otherwise in connection therewith. The
grant of a lien and security interest pursuant to this Section shall not cure any violation of this
Agreement, any such violation shall constitute an Event of Default hereunder taking into account
the expiration of any applicable cure period.

     3.2 Guaranty. Payment of the Revolving Credit Note, any other obligations under this
Agreement or the other Loan Documents, presently existing or hereafter arising, shall be guaranteed
by each of the Restricted Subsidiaries as set forth in the Amended and Restated Continuing and
Unconditional Guaranty dated as of the date hereof executed by each Restricted Subsidiary (the
“Guaranty”). In the event of the designation of any additional Restricted Subsidiaries, a joinder
agreement in the form attached hereto as Exhibit “C” shall be executed and delivered to the Bank by
each such additional Restricted Subsidiary (also, a “Guaranty”), together with such supporting
attorney’s opinion, if requested by Lender, evidence of corporate authorization, and other
instruments and documents as the Bank may reasonably request.

SECTION 4. REPRESENTATIONS AND WARRANTIES.

     To induce the Bank to enter into this Agreement and to establish the Revolving Credit and make
the Advances and issue the Letters of Credit, the Borrower represents and warrants to the Bank as
follows:

     4.1 Corporate Existence; Power; Compliance with Law; Restricted Subsidiaries; Name
History. Each of the Borrower and the Restricted Subsidiaries is an entity duly incorporated
or organized, validly existing, and in good standing under the laws of the jurisdiction of its
incorporation or organization. Each of the Borrower and the Restricted Subsidiaries has all
requisite power and authority (corporate and otherwise) to own and operate its properties and to
carry on its business as now being conducted, is duly qualified as a foreign entity to do business
and is good standing in every jurisdiction in which the failure to so qualify is reasonably likely
to materially adversely affect the business, earnings, prospects, properties, or condition
(financial or otherwise) of the Borrower and its Restricted Subsidiaries, taken as a whole. Each of
the Borrower and the Restricted Subsidiaries has all licenses and permits necessary to carry on and
conduct its business in all states and localities wherein it now operates and is in compliance with
all other requirements of law, rule, or regulation applicable to it and to its business, if the
failure to possess such licenses and permits or to so comply, either individually or in the
aggregate, is reasonably likely to materially adversely affect the business, earnings, properties,
or condition (financial or otherwise) of the Borrower and the Restricted Subsidiaries, taken as a
whole.

     The Borrower is a Subsidiary of the Parent. All of the Subsidiaries of the Borrower are listed
on Schedule 1.1.B hereto. None of the Borrower or the Restricted Subsidiaries have merged, changed
its name, or done business under a fictitious name during the past five years, except as set forth
in Schedule 1.1.B hereto.

     4.2 Capital Stock; Parent; Subsidiaries.

17

 

     (a) The authorized capital stock of the Borrower consists of 1,000 shares of common stock, par
value $0.01 per share, which is voting stock and is vested with all the voting rights in the
Borrower, of which 100 shares are issued and outstanding, and 1,000 shares of preferred stock, par
value $0.01 per share, of which no shares are issued or outstanding. All such outstanding shares
have been duly authorized, validly issued and are fully paid, nonassessable and free of preemptive
rights. No shares of common stock are held in the treasury of the Borrower. There are no
subscriptions, options, warrants, or calls relating to the issuance by the Borrower of any shares
of common stock, including any right of conversion or exchange under any outstanding security or
other instrument. There are no voting trusts or other agreements or understandings with respect to
the voting of the common stock of the Borrower. The Borrower is not subject to any obligation
(contingent or otherwise) to repurchase or otherwise acquire or retire any shares of its common
stock or any security convertible into or exchangeable for any of its common stock. All of the
outstanding shares of common stock of the Borrower are owned beneficially and of record by the
Parent.

     (b) The authorized capital stock of the Parent consists of 75,000,000 shares of common stock,
par value $0.01 per share, which is voting stock and, is vested with all the voting rights in the
Parent, of which 49,976,238 shares are issued and 45,943,354 shares are outstanding, and 1,000,000
shares of preferred stock, par value $1.00 per share, none of which are issued and outstanding.

     (c) The only Subsidiaries of the Borrower are as listed in Schedule 1.1.B hereto. Schedule
1.1.B correctly sets forth as to each Subsidiary its name, the jurisdiction of its incorporation if
a corporation, or the jurisdiction of its formation if a partnership, whether such Subsidiary is a
Restricted Subsidiary, the jurisdiction of its principal place of business, the address of its
principal place of business, chief executive office, and the office where all books and records are
kept, if different, the name of its parent company, the number of authorized shares, and the number
of outstanding shares of each class of capital stock of such Subsidiary, and the number of such
outstanding shares owned by the Borrower or other parent company. All of the outstanding shares of
capital stock of each class of each Subsidiary have been validly issued and are fully paid and
nonassessable. The Borrower owns beneficially and of record all of the outstanding shares of
capital stock of each Subsidiary indicated as being owned by it on Schedule 1.1.B hereto, free and
clear of any Liens.

     4.3 Corporate Power and Authorization to Execute Loan Documents; No Conflict; No
Consent. Each of the Parent, Borrower and the Restricted Subsidiaries has the corporate or
limited liability company power and authority and the legal right to execute and deliver the Loan
Documents to be executed by it and to perform its obligations thereunder, and has taken all
corporate action necessary to authorize the execution, delivery, and performance of such Loan
Documents and to authorize the transactions contemplated thereby. The execution, delivery, and
performance by the Parent, the Borrower or the Restricted Subsidiaries of the Loan Documents to be
executed by it will not contravene, conflict with, result in the breach of, or constitute a
violation of or default under, or result in the creation of any lien, charge, or encumbrance upon
any property or assets of the such Person, pursuant to the constituent documents or other governing
instruments of such Person, or any applicable law, rule, regulation, judgment, order, writ,
injunction, or decree or any indenture or other agreement or instrument to which the Borrower, the
Parent or a Restricted Subsidiary is a party, or by which

18

 

such Person or its property may be bound or affected which has a material adverse effect on
the business earnings, prospects, properties, or conditions (financial or otherwise) of the
Borrower and the Restricted Subsidiaries taken as a whole. No consent, license, or authorization
of, or filing with, or notice to, any Person or entity (including, without limitation, any
governmental authority), is necessary or required in connection with the execution, delivery,
performance, validity, or enforceability of the Loan Documents and the transactions as contemplated
thereunder, except for consents, licenses, authorizations, filings, and notices obtained or
performed by the Borrower or any Restricted Subsidiary and of which the Bank has been provided
written notice, or referred to or disclosed in the Loan Documents. Any such consents, licenses,
authorizations, filings, or notices remain in full force and effect.

     4.4 Enforceable Obligations. The Loan Documents constitute legal, valid, and binding
agreements enforceable against the respective parties thereto and any property described therein in
accordance with their respective terms, except as such enforceability may be limited by (i)
bankruptcy, insolvency, reorganization, arrangement, moratorium, or other laws relating to or
affecting the rights of creditors generally and (ii) general principles of equity, regardless of
whether enforcement is considered in proceedings at law or in equity.

19

 

     4.5 Financial Condition.

     (a) The consolidated financial statements of the Borrower as of January 26, 2008 and the
consolidated financial statements of the Parent as of January 26, 2008, copies of which have been
furnished to the Bank, fairly present the financial condition of the Borrower and its Subsidiaries
and the Parent, respectively, as at the date of the financial statements, and fairly present the
results of the operations of the Borrower and its Subsidiaries and the Parent for the period
covered thereby.

     (b) Neither the Borrower, nor any of the Restricted Subsidiaries, has any direct or contingent
liabilities, liabilities for taxes, long-term leases, or unusual forward or long-term commitments
as of the date of this Agreement which, either individually or in the aggregate, are or are
reasonably likely to be material to the Borrower and the Restricted Subsidiaries, which are not
disclosed by provided for, or reserved against in the foregoing financial statements or referred to
in notes thereto, other than liabilities incurred since January 26, 2008 in the ordinary course of
business which in the aggregate have no material adverse effect on the Borrower and the Restricted
Subsidiaries, taken as a whole, or on the conduct of the business of the Borrower and the
Restricted Subsidiaries, taken as a whole. The Borrower does not know of any basis for any
material unrealized or anticipated losses of the Borrower. The financial statements furnished to
the Bank have been prepared in accordance with GAAP maintained throughout the period involved.
There has been no material adverse change in the business, earnings, prospects, properties, or
condition, financial or otherwise, of the Borrower and the Restricted Subsidiaries, taken as a
whole, since the date of such financial statements.

     4.6 No Litigation. Except as set forth in Schedule 4.6 hereto, there is no suit or
proceeding at law or in equity or other proceeding or investigation (including proceedings by or
before any court, arbitrator, governmental or administrative commission, board or bureau, or other
administrative agency) pending, or to the best knowledge of the Borrower threatened, by or against
or involving the Parent, the Borrower, or any Subsidiary, or against any of their respective
properties, existence, or revenues which, individually or in the aggregate, (a) if adversely
determined, is reasonably likely to have a material adverse effect on the properties, assets, or
business, or on the condition, financial or otherwise, of the Borrower and the Restricted
Subsidiaries, taken as a whole, (b) materially impair the right or ability of the Borrower and the
Restricted Subsidiaries, taken as a whole, to carry on their operations substantially as now
conducted or as anticipated to be conducted in the future, (c) which would substantially impair the
ability of the Borrower to perform its obligations under the Loan Documents, or, regardless of
outcome, which questions the validity of the transactions contemplated by the Loan Documents, or
(d) regardless of outcome, which would be required to be disclosed in notes to any balance sheet as
of the date hereof of the Borrower prepared in reasonable detail in accordance with GAAP.

     4.7 Investment Company Act; Regulation.

     (a) Neither the Borrower nor any of its Subsidiaries is an “investment company” or an
“affiliated person” of an “investment company,” or a company “controlled” by an “investment
company,” and neither the Borrower nor any of its Subsidiaries is an “investment advisor” or an

20

 

affiliated person” of an “investment advisor,” and as each of the quoted terms is defined or
used in the Investment Company Act of 1940, as amended.

     (b) Neither the Borrower nor any of its Subsidiaries is subject to regulation under any state
or local public utilities code or any federal, state, or local statute or regulation limiting its
ability to incur Indebtedness for Money Borrowed or to pledge assets of the type contemplated
hereunder.

     4.8 Disclosure and No Untrue Statements. No representation or warranty made by the
Borrower in the Loan Documents or which will be made by the Borrower from time to time in
connection with the Loan Documents (a) contains or will contain any misrepresentation or untrue
statement of any material fact, or (b) omits or will omit to state any material fact necessary to
make the statements therein not misleading. There is no fact (excluding information relating to
world or national economic, social, or political conditions generally) known to any Responsible
Officer of Borrower which materially adversely affects, or which would in the future materially
adversely affect, the business, assets, properties, or condition, financial or otherwise, of the
Borrower and the Restricted Subsidiaries, taken as a whole, or materially affects, or which might
in the future materially adversely affect, the ability of the Borrower and the Restricted
Subsidiaries to perform their obligations under the Loan Documents, or except as set forth or
referred to in the Loan Documents or otherwise disclosed in writing to the Bank.

     4.9 Title to Assets; Leases in Good Standing.

     (a) Each of the Borrower and the Restricted Subsidiaries has good and valid title (or, with
respect to interests as lessee or otherwise, its equivalent under applicable law) to properties and
assets purported to be owned (or leased) by it that are material to the conduct of the business of
the Borrower and the Restricted Subsidiaries, taken as a whole, and including properties and assets
reflected in the financial statements and notes thereto described in Section 4.5 hereof, except for
such assets as have been disposed of in the ordinary course of business. All such properties and
assets are subject to no Liens, other than Permitted Liens. Schedule 1.1.A accurately lists (i)
each financing statement, deed, agreement, or other instrument in effect on the date hereof which
has been filed, recorded, or registered pursuant to any United States federal, state, or local law
or regulation that names the Borrower or any of the Restricted Subsidiaries as debtor or lessee or
as the grantor or the transferor of the interest created thereby, and (ii) as to each such
financing statement, deed, agreement, or other instrument, the names of the debtor, lessee,
grantor, or transferor and the secured party, lessor, grantee, or transferee and the name of the
jurisdiction in which such financing statement, deed, agreement or other instrument has been filed,
recorded, or registered. Except as contemplated hereby, and pursuant to the Barnett Loan
Agreement, neither the Borrower nor any of the Restricted Subsidiaries has signed any agreement or
instrument in effect on the date hereof authorizing any secured party thereunder to file any such
financing statement, deed, agreement, or other instrument (other than any such agreement or
instrument relating to the Liens permitted under paragraph (d) or (f) of the definition of
Permitted Liens).

     (b) Each of the Borrower and its Restricted Subsidiaries has the right to, and does, enjoy
peaceful and undisturbed possession under all leases under which it is leasing property that

21

 

are material to the conduct of the business of the Borrower and its Restricted Subsidiaries,
taken as a whole. All such leases are valid, subsisting and in full force and effect, subject only
to Permitted Liens, and neither the Borrower nor any of its Restricted subsidiaries in default in
the performance, observance, or fulfillment of any obligation under any provision of any such
lease, which default is reasonably likely to result in a termination of such lease or have a
material adverse effect on the Borrower and its Restricted Subsidiaries, taken as a whole. No
Responsible Officer has received any written notice that any other party to any such lease is in
default under any such lease.

     4.10 Investments. As of the date hereof, the Borrower and the Restricted Subsidiaries
do not own any Investments other than Permitted Investments of the types described in clauses
(a)-(e) of the definition of such term in Section 1.1 hereof and other than the Investments listed
in Schedule 1.1.C hereto, which Item correctly sets forth the amounts (determined as provided in
the definition of “Investments” in Section 1.1) of the Investments listed thereon.

     4.11 Payment of Taxes. Each of the Borrower, and the Subsidiaries has filed or caused
to be filed all, federal, state, and local tax returns which are required to be filed by it and has
paid or caused to be paid all taxes as shown on said returns or on any assessment received by it,
to the extent that such taxes have become due, other than taxes being contested in good faith by
appropriate proceedings diligently conducted and for which adequate reserves have been established
in accordance with GAAP. No controversy in respect of additional taxes of the Parent, the Borrower
or any Subsidiary is pending, or, to the knowledge of the Borrower, threatened, except as shown on
the Borrower’s financial statements described in Section 4.5 hereof or in notes thereto, and other
than amounts in respect of business carried on by the Borrower, and the Subsidiaries in the
ordinary course since the date of such financial statements, and other than amounts which, either
individually or in the aggregate, do not materially and adversely affect, and are not likely to
materially and adversely affect, the business, earnings, prospects, properties, or condition
(financial or otherwise) of the Borrower and the Restricted Subsidiaries, taken as a whole.

     4.12 Agreement or Contract Restrictions; No Default. Neither the Borrower nor any of
the Subsidiaries is a party to, or is bound by, any agreement, contract, or instrument or subject
to any charter or other corporate restriction which materially and adversely affects the business,
properties, assets, operations, or condition, financial or otherwise, of the Borrower and the
Restricted Subsidiaries, taken as a whole. The ability of the Borrower or any of its Restricted
Subsidiaries to declare, make, or pay dividends in respect of any shares of its common stock is not
expressly limited by the provisions of any agreement or instrument other than the Barnett Loan
Agreement. Each of the Borrower and the Restricted Subsidiaries is in full compliance with and is
not in default in the performance, observance, or fulfillment of any obligations, covenants, or
conditions contained in any agreement or instrument to which it is a party, other than any defaults
which individually or in the aggregate are not reasonably likely to materially adversely affect the
business, earnings, prospects, properties, or condition (financial or otherwise) of the Borrower
and the Restricted Subsidiaries, taken as a whole.

     4.13 Patents, Trademarks, Licenses, Etc. Each of the Borrower and the Restricted
Subsidiaries owns, possesses, or has the right to use, and holds free from burdensome

22

 

restrictions or known conflicts with the rights of others, all patents, patent rights,
licenses, trademarks, trademark rights, trade names, trade name rights, and copyrights, and all
rights with respect to the foregoing, necessary to conduct their respective businesses as now being
conducted, and is in full compliance with the terms and conditions, if any, of all such patents,
patent rights, licenses, trademarks, trademark rights, trade names, trade name rights, or
copyrights and the terms and conditions of any agreements relating thereto, except for such
conflicts or noncompliance which, either individually or in the aggregate, do not materially and
adversely affect the business, earnings, prospects, properties, or condition (financial or
otherwise) of the Borrower and the Restricted Subsidiaries, taken as a whole. Further, each of the
Restricted Subsidiaries and the Borrower agree that they shall not transfer any and all patents,
patent rights, licenses, trademarks, trademark rights, trade name, trade name rights and copyrights
and all rights to the foregoing presently held by Borrower or any Restricted Subsidiary to any
Person or entity including the Parent, however, transfers between (a) Borrower and the Restricted
Subsidiaries; (b) Restricted Subsidiaries; and (c) Restricted Subsidiaries and Borrower shall be
permitted.

     4.14  [RESERVED]

     4.15 Compliance with ERISA; Multiemployer Plans.

     (a) Neither the execution and delivery of this Agreement or the other Loan Documents, the
incurrence of the indebtedness hereunder by the Borrower, the application by the Borrower of the
proceeds thereof, nor the consummation of any of the other transactions contemplated by this
Agreement, constitutes or will constitute a “prohibited transaction” (within the meaning of Section
4975 of the Code or Section 406 of ERISA).

     (b) Each Plan is in compliance in all material respects with applicable provisions of ERISA
and the Code. Each of the Borrower and the Subsidiaries has made all contributions to the Plans
required to be made by them.

     (c) Except for liabilities to make contributions and to pay PGGC premiums and administrative
costs, neither the Borrower, of the Subsidiaries, nor any ERISA Affiliate has incurred any material
liability to or on, account of any Plan or Pension Plan under applicable provisions of ERISA or the
Code, and no condition exists which presents a material risk to the Borrower, any of its
subsidiaries, or any ERISA Affiliate of incurring any such liability. No domestic Pension Plan has
an “accumulated funding deficiency” (within the meaning of Section 412 of the Code), whether or not
waived. Neither the Parent, the Borrower, any of its Subsidiaries, any ERISA Affiliate, the PBGC,
nor any other Person has instituted any proceedings or taken any other action to terminate any
Pension Plan, nor (in the case of the Parent, the Borrower, or any Subsidiary) has any present
intention of terminating any Pension Plan.

     (d) Except with respect to any Multiemployer Plan, the present value of the “current
liability” (within the meaning of Section. 412 (1) (7) (a) of the Code) under each Pension Plan
(based on the assumptions used in the funding of such Pension Plan, which assumptions are
reasonable, and determined as of the last day of the most recent plan year of such Pension Plan

23

 

for which an annual report has been filed with the IRS, did not exceed the current fair market
value of the assets of such Pension Plan as of such last day.

     (e) None of the Plans is a Multiemployer Plan, and neither the Borrower, any of its Restricted
Subsidiaries, nor any ERISA Affiliate (i) has contributed or been obligated to contribute to any
Multiemployer Plan at any time within the preceding six years, (ii) has incurred or is reasonably
expected to incur any “withdrawal liability” (within the meaning of Part I of Subtitle E of Title
IV of ERISA) ; or (iii) has been notified by the sponsor of a Multiemployer Plan that such
Multiemployer Plan is insolvent, is in reorganization, or has been “terminated” (within the meaning
of Title IV of ERISA).

     4.16 Compliance with Environmental Laws.

     (a) Each of the Borrower and the Restricted Subsidiaries is, and will continue to be, in full
compliance with all applicable federal, state, and local environmental laws, regulations, and
ordinances governing its business, products, properties, or assets with respect to all discharges
into the ground and surface water, emissions into the ambient air and generation, accumulation,
storage, treatment, transportation, labeling, or disposal of waste materials or process
by-products, the violation of which is reasonably likely to materially and adversely affect the
business, earnings, prospects, properties, or condition (financial or otherwise) of the Borrower
and the Restricted Subsidiaries, taken as a whole, and neither the Borrower nor any of its
Restricted Subsidiaries is liable for any penalties, fines, or forfeitures for failure to comply
with any such laws, regulations, and ordinances other than penalties, fines or forfeitures which
are not reasonably likely to materially and adversely affect the business, earnings, prospects,
properties, or condition (financial or otherwise) of the Borrower and Restricted Subsidiaries,
taken as a whole. All licenses, permits or registrations required for the business of the Borrower
and its Restricted Subsidiaries, as presently conducted and proposed to be conducted, under any
federal, state, or local environmental laws, regulations or ordinances have been obtained or made,
other than any such licenses, permits, or registrations the failure to obtain or make which, either
individually or in the aggregate, do not materially and adversely affect, and are not reasonably
likely to materially and adversely affect, the business, earnings, prospects, properties, or
condition (financial or otherwise) of the Borrower and its Restricted Subsidiaries, taken as a
whole, and the Borrower and its Restricted Subsidiaries each is in compliance with all such
licenses, permits, and registrations other than any such licenses, permits, or registrations the
failure to obtain, make or comply with which, either individually or in the aggregate, do not
materially and adversely affect, and are not reasonably likely to materially and adversely affect,
the business, earnings, prospects, properties or condition (financial or otherwise) of the Borrower
and its Restricted Subsidiaries, taken as a whole.

     (b) No release, emission, or discharge into the environment of hazardous substances, as
defined under the Comprehensive Environmental Responses, compensation, and Liability Act, as
amended, or hazardous waste, as defined under the Resource Conservation and Recovery Act, or air
pollutants as defined under the Clean Air Act, or pollutants, as defined under the Clean Water Act,
has occurred or is presently occurring on or from any property owned or leased by the Borrower or
its Subsidiaries in excess of federal, state or local permitted release or reportable quantities,
or other concentrations,, standards, or limitations under the foregoing laws, or any state or local
law governing the protection of health and the environment, or under any other

24

 

federal state, or local laws or regulations (then or now applicable, as the case may be) other
than any such releases, emissions, or discharges which, either individually or in the aggregate, do
not materially and adversely affect, and are not reasonably likely to materially and adversely
affect, the business, earnings, prospects, properties, or condition (financial or otherwise) of the
Borrower and the Restricted Subsidiaries, taken as a whole.

     (c) Neither the Borrower nor any of its Restricted Subsidiaries has ever (i) owned, occupied,
or operated a site or structure on or in which any hazardous substance was or is stored,
transported, or disposed of, or (ii) transported or arranged for the transportation of any
hazardous substance except, in each case, in full compliance with all applicable federal, state,
and local environmental laws, regulations, and ordinances governing its business, products,
properties, or assets or the storage, transportation, or disposal of hazardous substances, which
ownership, occupation, operation, transportation or arranging is reasonably likely to (i) subject
the Parent, the Borrower and the Restricted Subsidiaries to any liabilities, expenses, fines or
penalties which, individually or in the aggregate, are material to the Parent, the Borrower and its
Restricted Subsidiaries, taken as a whole, or (ii) inhibit or result in the prohibition by the use
by the Borrower or any Restricted Subsidiary of any property necessary in the conduct of the
business of the Parent, the Borrower or such Subsidiary, the effect of which, individually or in
the aggregate, is reasonably likely to materially adversely affect the business, earnings,
prospects, properties, or condition (financial or otherwise) of the Parent, the Borrower and the
Restricted Subsidiaries, taken as a whole. Neither the Parent, the Borrower nor any of its
Restricted Subsidiaries has ever caused or been held legally responsible for any release or
threatened release of any hazardous substance, or received notification from any federal, state, or
other governmental authority of any such release or threatened release, of any hazardous substance
from any site or structure owned, occupied, or operated by the Borrower or any of its Restricted
Subsidiaries, individually or in the aggregate, reasonably likely to lead to liabilities, expenses,
fines, and penalties in an amount material to the Borrower and the Restricted Subsidiaries, taken
as a whole.

     4.17 Labor Relations. Neither the Borrower nor any of its Subsidiaries is engaged in
any unfair labor practice which is reasonably likely to materially adversely affect the business,
earnings, prospects, properties, or condition (financial or otherwise) of the Borrower and the
Restricted Subsidiaries, taken as a whole. There is (a) no unfair labor practice complaint pending
or, to the best knowledge of the Borrower, threatened against the Borrower or any of its Restricted
Subsidiaries before the National Labor Relations Board or any court or labor board, and no
grievance or arbitration proceedings arising out of or under collective bargaining agreements is so
pending or, to the best knowledge of the Borrower, threatened; (b) no strike, lock-out, labor
dispute, slowdown, or work stoppage pending or, to the best knowledge of the Borrower, threatened
against the Borrower or any of its Restricted Subsidiaries; and (c) no union representation or
certification question existing or pending with respect to the employees of the Borrower or any of
its Subsidiaries and, to the best knowledge of the Borrower, no union organization activity taking
place, which unfair labor practice complaint, grievance, or arbitration proceedings, strike,
lock-out, labor dispute, slowdown, or work stoppage or union representation or certification
question, individually or in the aggregate, is reasonably likely to have a material adverse affect
on the business, earnings, prospects, properties, or condition (financial or otherwise) of the
Borrower and the Restricted Subsidiaries, taken as a whole.

25

 

SECTION 5. CONDITIONS OF LENDING.

     The obligations of Bank to make any Advance or to issue or renew any Letters of Credit
hereunder are subject to the condition that:

     5.1 Continuing Accuracy of Representations and Warranties. At the time of each
Advance or Letter of Credit, the representations and warranties set forth in Section 4 hereof, as
supplemented by written disclosures by the Borrower to the Bank of changes affecting such
representations and warranties (but which changes do not breach any term of this Agreement except
as may have been waived or for which consent has been given by the Bank) or as supplemented by
subsequent financial statements provided to the Bank, shall be true and correct on and as of the
date of the borrowing with the same effect as though the representations and warranties had been
made on and as of the date of the borrowing or issuance, except to the extent that such
representations and warranties may expressly relate to an earlier date, in which case the shall
continue to be true as of such date.

     5.2 No Default. At the time of each borrowing or issuance or renewal of a Letter of
Credit hereunder, the Borrower shall be in compliance with all terms and conditions set forth
herein, and no Default or Event of Default shall have occurred and be continuing at the time of
such borrowing, unless such Default or Event of Default shall have been waived by the Bank in
writing.

     5.3 Opinion of the Borrower’s Counsel. On or prior to the date of this Agreement, the
Bank shall have received the favorable opinion of counsel for the Borrower, in form and substance
satisfactory to the Bank.

     5.4 [RESERVED]

     5.5 Loan Documents. On or prior to the date of this Agreement, the Bank shall have
received, duly executed, this Agreement and the other Loan Documents (with the exception of any
Security Documents), all in form and substance satisfactory to the Bank and counsel for the Bank.

     5.6 Supporting Documents. On or prior to the date of this Agreement, the Bank shall
have received all other documents and instruments required hereunder or otherwise reasonably
required by the Bank to be executed and delivered or otherwise provided to the Bank in form and
substance satisfactory to the Bank and counsel for the Bank.

26

 

SECTION 6. AFFIRMATIVE COVENANTS.

     The Borrower covenants and agrees that until the Termination Date and thereafter until final
payment in full of all obligations and liabilities hereunder, and under the Revolving Credit Note
and the performance by the Borrower of all other obligations under this Agreement and the other
Loan Documents, unless Bank shall otherwise consent in writing, the Borrower will fully comply and
will cause each Restricted Subsidiary to comply with the following provisions:

     6.1 Financial Reports and Other Information. The Borrower will deliver or cause to be
delivered to the Bank the following:

     (a) As soon as practicable and in any event within forty-five (45) days after the end of each
fiscal quarter of the Borrower other than the last quarter of each fiscal year, a consolidated
balance sheet of the Borrower and the Restricted Subsidiaries as at the last day of such quarter
and the related consolidated statement of income for such quarter and cumulative fiscal
year-to-date for the Borrower and the Restricted Subsidiaries, setting forth in each case in
comparative form figures for the corresponding period in the preceding fiscal year, all in
reasonable detail and satisfactory in scope to the Bank and certified by the chief financial
officer of the Borrower as to the fairness of such financial statements and that the same have been
prepared in accordance with GAAP, subject to changes resulting from normal, recurring year-end
adjustments; provided, however, that if, so long as the Borrower is a Subsidiary of the Parent, the
Parent duly files with the SEC any Form 12b-25 under the Exchange Act (or any successor form
thereunder) with respect to its inability to timely file its quarterly report on Form l0-Q for a
fiscal quarter and obtains a valid extension of such time to file, the financial information
required to be delivered by this paragraph may be delivered later than forty-five (45) days after
the end of such fiscal quarter but in no event later than the extended deadline for filing such
quarterly report imposed by said Rule 12b-25.

     (b) As soon as practicable and in any event within one hundred (100) days after the end of
each fiscal year of the Borrower, the consolidated balance sheet of the Borrower and the Restricted
Subsidiaries as at the end of such fiscal year, and related consolidated statements of income,
retained earnings, and changes in financial position for such fiscal year, setting forth in each
case in comparative form figures for the corresponding period in the preceding calendar year, all
in reasonable detail and satisfactory in scope to the Bank and certified by and containing an
unqualified opinion of McGladrey & Pullen, LLP or other independent certified public accountants of
recognized national standing selected by the Borrower and reasonably satisfactory to the Bank,
provided, however, that if, so long as the Borrower is a Subsidiary of the Parent, the Parent shall
duly file with the SEC any Form 12b-25 under the Exchange Act (or any successor form thereunder)
with respect to its inability to timely file its annual report on Form 10-K for a fiscal year and
obtains a valid extension of such time to file, the financial information required to be delivered
by this paragraph may be delivered later than one hundred (100) days after the end of such fiscal
year but in no event later than the extended deadline for filing such annual report imposed by said
Rule 12b-25.

     (c) As soon as practicable, and in any event within forty-five (45) days after the end of each
fiscal quarter of the Parent, other than the last quarter of each fiscal year, a consolidated
balance sheet as at the last day of such quarter and the related consolidated statement of income

27

 

for such quarter and cumulative fiscal year-to-date for the Parent and its Subsidiaries,
setting forth in each case in comparative form figures for the corresponding period in the
preceding fiscal year, all in reasonable detail and satisfactory in scope to the Bank and certified
by the chief accounting officer of the Parent as to the fairness of such financial statements and
that the same have been prepared in accordance with GAAP, subject to changes resulting from
nonrecurring year-end adjustments; provided, however, that the delivery of the Parent’s quarterly
report on Form 10-Q promptly after its timely filing with the SEC thereof shall satisfy the
requirements of this paragraph with regard to consolidation of financial statements;

     (d) As soon as practicable, and in any event within one hundred (100) days after the end of
each fiscal year of the Parent, the consolidated balance sheet of the Parent and its Subsidiaries
as at the end of such fiscal year, and related consolidated statements of income, retained
earnings, and changes in financial position for such fiscal year, setting forth in each case in
comparative form figures for the corresponding period in the preceding fiscal year, all in
reasonable detail and satisfactory in scope to the Bank and certified by and containing an
unqualified opinion of McGladrey & Pullen, LLP, or other independent certified public accountants
of recognized national standing selected by the Parent and reasonably satisfactory to the Bank;
provided, however, that, the delivery of the Parent’s annual report on Form 10-K promptly after its
timely filing with the SEC thereof shall satisfy the requirements of this paragraph with regard to
consolidated financial statements;

     (e) Together with each delivery of those items required by clauses (a) and (b) above, a
Certificate of Compliance in the form attached hereto as Exhibit “D”, executed by the chief
financial officer or the Vice President-Comptroller of the Borrower;

     (f) [Intentionally deleted.]

     (g) Together with each delivery of the financial statements required by clause (b) above, a
certificate of the independent certified accountants stating that in making the examination
necessary to said certification of the financial statements, they obtained no knowledge of any
condition or event pertaining to financial or accounting matters that constitutes an Event of
Default, or event which after notice by the Bank or lapse of time, or both, or would constitute an
Event of Default; or if the accountants have obtained knowledge of any Event of Default or such
event, a statement specifying the nature and period of existence thereof.

     (h) Promptly upon distribution thereof, copies of all annual or quarterly financial or other
statements of Borrower and the Parent (including proxy statements, documents, and reports as the
Borrower) shall send to any class of its shareholders;

     (i) At any time when the Borrower or the Parent is obligated to file reports with the SEC
pursuant to the Exchange Act, promptly, and in any event within fifteen (15) days after the filing
thereof, copies of all periodic reports, current reports, and registration statements which the
Borrower files with the SEC or any equivalent governmental agency and, promptly upon written
request therefor, copies of any financial statements which the Borrower files annually with any
federal, state, or local regulatory agency or agencies;

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     (j) With reasonable promptness such additional financial or other information as the Bank may
from time to time reasonably request (including, without limitation, consolidating financial
statements with respect to any Subsidiary); provided, however, that the Borrower shall not be
required to furnish any information requested pursuant to this paragraph to the extent that such
information is not then available or may not be produced without unreasonable effort or expense.

     Bank is hereby authorized to deliver a copy of any financial statements or any other
information relating to the business, operations, or financial condition of the Parent, the
Borrower, or the Subsidiaries, which may be furnished to it or come to its attention pursuant to
the Loan Documents or otherwise, to any regulatory body or agency having jurisdiction over the Bank
or to any Person which shall or shall have the right or obligation to, succeed to all or any part
of the Bank’s interest in the Loan Documents.

     6.2 Payment of Indebtedness to the Bank; Performance of other Covenants; Payment of Other
Obligations. The Borrower will (a) make full and timely payment of the principal of and
interest on the indebtedness owed hereunder; and (b) duly comply with all the terms and covenants
contained in the Loan Documents.

     6.3 Conduct of Business; Maintenance of Existence and Rights. The Borrower will, and
will cause its Subsidiaries to, (i) do or cause to be done all things necessary to preserve and to
keep in full force and effect its respective corporate existence and rights and privileges as a
corporation, and will not liquidate or dissolve, and will take and fulfill, or cause to be taken
and fulfilled, all actions and conditions necessary to qualify, and to preserve and keep in full
force and effect its qualification, to do business as a foreign corporation in the jurisdictions in
which the conduct of its business or the ownership or leasing of its properties requires such
qualification, except where the failure to so qualify or maintain such qualification is reasonably
likely to materially adversely affect the business, earnings, prospects, properties, or condition
(financial or otherwise) of the Borrower and the Restricted Subsidiaries, taken as a whole;
provided, however, that this Section shall not be deemed to prohibit any transaction permitted by
Sections 7.2 and 7.3 hereof, and (ii) obtain and maintain franchises, licenses, trade names,
patents, trademarks, and permits which are necessary to the ownership of its property or to the
continuance of its business except where the failure to obtain or maintain, either individually or
in the aggregate, is reasonably likely to materially adversely affect the business earnings
prospects, properties, or condition (financial or otherwise) of the Borrower and the Restricted
Subsidiaries, taken as a whole.

     6.4 Maintenance of Property. The Borrower will, and will cause its Subsidiaries to,
maintain its property in good condition and repair and, from time to time, make all necessary
repairs, renewals, replacements, additions, betterments, and improvements thereto, so that the
business carried on in connection therewith may be conducted in the ordinary course at all times.

     6.5 Right of Inspection; Discussions. The Borrower will, and will cause its
Subsidiaries to, permit any Bank employee or agent designated by the Bank, at the Bank’s expense,
to visit and inspect any of the properties, corporate books, records, papers, and financial reports
of the Borrower or such Subsidiary, including the making of any copies thereof

29

 

and abstracts therefrom, and to discuss its affairs, finances, and accounts with its principal
officers and independent certified accountants (and by this provision the Borrower hereby
authorizes and directs said accountants to discuss with any such Person the finances and accounts
of the Borrower and the Subsidiaries), all upon reasonable notice, at reasonable times during
normal business hours, and with reasonable frequency. The Borrower will, and will cause each of
its Subsidiaries to, also permit the Bank, or its designated representative, to audit or appraise
any of its respective assets or financial and business records. Each such inspection (including
any audit or appraisal) shall be at the expense of the Person making the inspection, unless such
inspection shall be made during the continuance of an Event of Default (in which event the
reasonable expenses of any Person making any such inspection shall be borne by the Borrower).
Notwithstanding the foregoing sentence, it is understood and agreed by the Borrower that all
expenses in connection with any such inspection incurred by the Borrower or any Subsidiary, any
officers and employees thereof, and the independent certified accountants therefor shall be
expenses payable by the Borrower and shall not be expenses of the Person making the inspection.

     6.6 Notices. The Borrower will promptly, and in any event within fifteen (15)
Business Days thereafter, give notice to the Bank of:

     (a) the institution of any suit, action, or proceeding against the Borrower or any Restricted
Subsidiary which is reasonably likely, in the reasonable judgment of the Borrower, to have a
materially adverse effect on the business, earnings, prospects, properties, or condition (financial
or otherwise) of the Borrower and the Restricted Subsidiaries, taken as a whole;

     (b) upon the obtaining of knowledge thereof by any Responsible Officer, any change in any law
which is reasonably likely to have a materially adverse effect on the business, earnings,
prospects, properties, or condition (financial or otherwise) of the Borrower and the Restricted
Subsidiaries, taken as a whole;

     (c) copies of any notice of violation, order, or other document evidencing noncompliance with
any environmental law which is reasonably likely to have a materially adverse effect on the
business, earnings, prospects, properties, or condition (financial or otherwise) of the Borrower
and the Restricted Subsidiaries, taken as a whole;

     (d) upon the obtaining of actual knowledge thereof by any Responsible Officer, any Event of
Default, specifying the nature and period of existence thereof, what action the Borrower has taken
or is taking or proposes to take with respect thereto, and an estimate of the time necessary to
cure such Event of Default;

     (e) upon any Responsible Officer being aware thereof, the occurrence of any (i) ERISA
Termination Event; (ii) “prohibited transaction” (within the meaning of Section 4975 of the Code or
Section 406 of ERISA), other than one to which an exemption applies; (iii) failure to make a timely
contribution to any Pension Plan, if such failure has given rise to a lien under Section 412 (n) of
the Code; or (iv) actual, asserted, or alleged violation of ERISA, the Code, or comparable
provision of applicable foreign law, that, with respect to any of the events set forth in the
forgoing clauses (i) through (iv), could result in a tax, penalty, or other consequence to the
Borrower, any Subsidiary, or any ERISA Affiliate in connection with any Plan, which tax,

30

 

penalty, or other consequence, individually or in the aggregate, would materially affect,
individually or in the aggregate, the business, earnings, prospects, properties, or condition
(financial or otherwise) of the Borrower and its Restricted Subsidiaries, taken as a whole, what
action the Borrower is taking or proposes to take with respect thereto, and, when known, any action
taken by the IRS, the U.S. Department of Labor, the PBGC, any foreign governmental entity, or any
other Person with respect thereto;

     (f) upon the obtaining of actual knowledge by any Responsible Officer, that any franchise or
license held by the Borrower or any Restricted Subsidiary will be revoked, terminated, or
suspended, other than any termination in connection with the sale of any assets pursuant to
Sections 7.2 and 7.3 hereof, and other the revocations, terminations, and suspensions which,
individually or in the aggregate, would not have a material adverse effect on the business,
earnings, prospects, properties, or condition (financial or otherwise) of the Borrower and the
Restricted Subsidiaries, taken as a whole;

     (g) copies of all press releases and other written statements made available generally by the
Borrower to its stockholders or to one or more financial news services concerning material
developments in the business of the Borrower and the Restricted Subsidiaries, taken as a whole;

     (h) copies of any notice of the exercise of any remedy by any secured party with respect to
any of the material assets or property of the Borrower and the Restricted Subsidiaries, taken as a
whole;

     (i) copies of any Form 8-K filed under the Exchange Act; and

     (j) the occurrence of any material casualty to any material facility of the Borrower or any
other force majeure (including, without limitation, any strike or other labor disturbance)
materially affecting the operation or value of any such facility and which is reasonably likely to
have a materially adverse effect on the business, earnings, prospects, properties, or condition
(financial or otherwise) of the Borrower and the Restricted Subsidiaries, taken as a whole
(specifying whether or not such casualty or force majeure is covered by insurance).

     6.7 Payment of Taxes; Liens. The Borrower will, and will cause its Subsidiaries to,
pay and discharge promptly when due:

     (a) all taxes, assessments, and governmental charges and levies imposed upon it, its income,
or profits or any of its properties, before the same shall become delinquent; and

     (b) all lawful claims of materialmen, mechanics, carriers, warehousemen, landlords, and other
similar Persons for labor, materials, supplies and rentals that, if unpaid, might by law become a
Lien upon any of its property;

provided, however, that none of the foregoing need be paid while the same is being contested in
good faith by appropriate proceedings diligently conducted so long as adequate reserves shall have
been established in accordance with GAAP with respect thereto, title of the Borrower or, any
subsidiary, as the case may be, to the particular property shall not be divested thereby, and the
right of the Borrower or such Subsidiary to use said property shall not be materially

31

 

adversely affected thereby; provided, further, that any delinquency or non-payment of an immaterial
amount which does not result in the imposition of a Lien which is not a Permitted Lien shall not be
an Event of Default hereunder. Each of the Borrower and its Subsidiaries will file all federal,
state and local tax returns and all other tax reports as required by law.

     6.8 Insurance of Properties. The Borrower will, and will cause each Subsidiary to
maintain, with respect to its business and properties, insurance at all times by insurance
companies of nationally recognized stature and responsibility which the Borrower believes to be
financially sound, of a character usually insured by corporations engaged in the same or a similar
business similarly situated against loss or damage of the kinds and in the amounts customarily
insured against and for by such corporations, and carry or cause to be carried, with such insurers
in customary amounts (with customary deductibles), such other insurance, including public liability
insurance, as is usually carried by corporations engaged in the same or a similar business
similarly situated; provided, however, that all insurance maintained pursuant to this paragraph
shall be carried in amounts sufficient to prevent the Borrower or any Subsidiary from incurring
liability as a co-insurer under law or the terms of the applicable policy or policies.

     6.9 True Books. The Borrower will, and will cause its Subsidiaries to, keep proper
books of record and account, in which entries will be made of all of its respective dealings and
transactions in accordance with and to the extent required by GAAP, and establish on its books such
accruals and reserves in amounts deemed adequate in the reasonable opinion of the Borrower, that,
in accordance with GAAP, should be set aside in connection with the business of the Borrower and
its Subsidiaries, including reserves for depreciation, obsolescence, amortization, third-party
insurance payment, and claims and accruals for taxes based on or measured by income on profits, and
for all other taxes.

     6.10 Observance of Laws. The Borrower will, and will cause the Parent and its
Subsidiaries to, conform to and duly observe all laws, regulations, and other valid requirements of
any governmental authority with respect to the conduct of its business, the violation of which,
individually or in the aggregate, is reasonably likely to materially adversely affect the business,
earnings, prospects, properties, or condition (financial or otherwise) of the Borrower and its
Restricted Subsidiaries, taken as a whole.

     6.11 Further Assurances. Upon request of the Bank, the Borrower will, and will cause
Restricted Subsidiary to, duly execute and deliver or cause to be duly executed and delivered to.
the Bank such further instruments or documents and do and cause to be done such further acts as may
be reasonably necessary or proper in the reasonable opinion of the Bank to carry out more
effectively the provisions and purposes of this Agreement and the other Loan Documents.

     6.12 ERISA.

     (a) Each of the Borrower, its Subsidiaries, and the ERISA Affiliates will take all actions and
fulfill all conditions necessary to maintain any and all Plans in substantial compliance with
applicable requirements of ERISA, the Code, and applicable foreign law until

32

 

such Plans are terminated, and the liabilities thereof discharged, in accordance with
applicable law.

     (b) No domestic Pension Plan (other than a Multiemployer Plan) will incur any “accumulated
funding deficiency” (within the meaning of Section 412 of the Code), and no foreign Pension Plan
will be in violation of any funding requirement imposed by applicable foreign law, which deficiency
or violation would or would be reasonably likely to, materially adversely affect the business,
earnings, prospects, properties, or condition (financial or otherwise) of the Borrower and the
Restricted Subsidiaries, taken as a whole.

     6.13 Change of Name, Principal Place of Business, Office, or Agent. The Borrower will
provide the Bank with prior written notice of any change in the name of the Borrower, the Parent,
or any Restricted Subsidiary, the principal place of business of the Borrower, the Parent, or any
Restricted Subsidiary, the office where the books and records of the Borrower, the Parent, or any
Restricted Subsidiary are kept, or any change in the registered agent of the Borrower, the Parent,
or any subsidiary for the purposes of service of process.

     6.14 Financial Covenants. The Borrower will, in accordance with GAAP, maintain as of
the last day of each fiscal quarter, commencing August 2, 2008:

     (a) A ratio of Consolidated Funded Debt to Consolidated Net Worth of not more than 2.0 to 1.0.

     (b) A ratio of Consolidated Funded Debt to Consolidated EBITDA for the four (4) fiscal
quarters then ending of not more than 3.5 to 1.0.

SECTION 7. NEGATIVE COVENANTS.

     The Borrower covenants and agrees that from the date of this Agreement until payment in full
of all present or future indebtedness hereunder, and termination of all present or future credit
facilities established hereunder, unless the Bank shall otherwise consent in writing, the Borrower
will fully comply and will cause each Subsidiary to fully comply with the following provisions:

     7.1 Limitations on Mortgages, Liens, Etc. The Borrower will not, and will not permit
any Restricted Subsidiary to, directly or indirectly, create, incur, assume, or suffer or permit to
exist, any Lien, other than in favor of Bank or the Permitted Liens.

     7.2 Consolidation and Merger, Sale of Assets, Etc. The Borrower will not, and will
not permit or any Restricted Subsidiary to, merge into or consolidate with, or sell, lease, or
otherwise dispose of all or substantially all of its assets, directly or indirectly, in one or a
series of transactions, to any other Person, or permit any other Person to merge into or
consolidate with it or any Restricted Subsidiary except:

     (a) The Borrower may permit any corporation to merge into it so long as: (i) the Borrower
shall be the surviving corporation; (ii) immediately after giving effect to the transaction, the
Borrower shall be permitted by the provisions of this Agreement to incur at least $1.00 of
additional Funded Debt; and (iii) immediately before and after giving effect to the transaction, no
Event of Default shall exist;

33

 

     (b) The Borrower may merge into or consolidate with, or sell all or substantially all of its
assets to, any other corporation, so long as: (i) the corporation which survives such merger or
results from such consolidation or acquires such assets shall be organized under the laws of the
United States of America, a state thereof or the District of Columbia; (ii) the surviving
corporation shall assume, by an instrument reasonably satisfactory in form and substance to the
Bank, the obligations of the Borrower under this Agreement; (iii) immediately after giving effect
to the transaction, the surviving corporation shall be permitted by the provisions of this
Revolving Credit to incur at least $1.00 of additional Funded Debt; (iv) immediately before and
after giving effect to the transaction, no Event of Default shall exist; and (v) an opinion of
counsel (reasonably satisfactory in form and substance to the Bank) shall be delivered to the Bank
upon consummation of the transaction to the effect that this Agreement, the Revolving Credit Note,
and the instrument referred to in the foregoing clause (ii) are legal, valid, and binding
obligations of the surviving corporation, enforceable against the surviving corporation in
accordance with their respective terms, and as to such other matters as to which the Bank shall
have received a legal opinion on the date of this Agreement as the Bank may reasonably request;

     (c) Any Restricted Subsidiary may merge into or consolidate with (i) the Borrower; (ii) any
other Restricted Subsidiary; or (iii) any other corporation, so long as (x) if such other
corporation is the surviving corporation, it is organized under the laws of the United States of
America, a state thereof, or the District of Columbia and, simultaneously with the consummation of
such merger or consolidation, is designated a Restricted Subsidiary pursuant to Section 7.10
hereof; (y) immediately after and giving effect to such merger or consolidation, the Borrower shall
be permitted by the Provisions of this Agreement to incur at least $1.00 of additional Funded Debt;
and (z) immediately before and after giving effect to the transaction, no Event of Default shall
exist; and

     (d) Any Restricted Subsidiary may sell all or substantially all of its assets to (i) the
Borrower; (ii) any other Restricted Subsidiary; or (iii) any other corporation, so long as (v) such
transaction complies with the provisions of Sections 7.2 and 7.3 hereof, (w) any indebtedness of
such Restricted Subsidiary to the Borrower and to any other Restricted Subsidiary is repaid prior
to or contemporaneously with such transaction, (x) no Investment of such Restricted Subsidiary in
the Borrower or any other Restricted Subsidiary is included among the assets sold in such
transaction, (y) immediately before and after giving effect to such transaction, the Borrower shall
be permitted by the provisions of this Agreement to incur at least $1.00 of additional Funded Debt,
and (z) immediately before and after giving effect to such transaction, no Event of Default shall
exist.

     7.3 Transfer and Sale of Assets; Sale and Leaseback.

     (a) The Borrower will not, and will not permit any Restricted Subsidiary to, directly or
indirectly, through a single transaction or a series of transactions, sell, lease, transfer, or
otherwise dispose of or suffer to be sold, leased, transferred, abandoned, or otherwise disposed
of, all or any part of its assets except:

     (i) The Borrower or any Restricted Subsidiary may sell its inventory, materials, and
surplus and obsolete equipment in each case in the ordinary course of its business;

34

 

     (ii) The Borrower or any Restricted Subsidiary may sell all or substantially all of its
assets to the extent permitted under this Agreement;

     (iii) Any Restricted Subsidiary may sell, lease, transfer, or otherwise dispose of any
of its assets to the Borrower or any other Restricted Subsidiary; and

     (iv) The Borrower or any Restricted Subsidiary may sell, lease, or otherwise dispose of
assets to a Person which is not an Affiliate of the Borrower for cash and/or indebtedness
issued by the purchaser of such assets in consideration therefor (each such sale, lease, or
other disposition of assets pursuant to this clause (iii) being hereinafter referred to as a
“sale”), so long as such sale (i) is determined in good faith by the Borrower to be for a
price or rental at least equal to the fair market sale or rental value of the assets sold,
leased, or otherwise disposed of and to be in the best interest of the Borrower, and (ii)
does not constitute a Substantial Sale of Assets.

     (b) The Borrower will not, and will not permit any of the Restricted Subsidiaries to, directly
or indirectly, sell, transfer, or otherwise dispose of any property, whether now owned or hereafter
acquired, in connection with a transaction in which it is contemplated that such property, or any
portion thereof, or any other property that the Borrower or such Restricted Subsidiary, as the case
may be, intends to use for substantially the same purpose as the property so sold, transferred, or
otherwise disposed of, will simultaneously or subsequently be leased back to the Borrower or any
Restricted Subsidiary (a “Sale Leaseback Transaction”) unless:

     (i) Such Sale Leaseback Transaction involves a lease which (x) if such Lease is an
operating lease, would be permitted pursuant to the provisions of this Agreement and, (y) if
such Lease is a Capital Lease, the Attributable Indebtedness associated with such Capital
Lease would be permitted pursuant to the provisions of this Agreement;

     (ii) Such Sale Leaseback Transaction relates solely to property or assets with respect
to which the Borrower or any Restricted Subsidiary may create a Lien pursuant to the
provisions of paragraphs (f), (g), or (h) of the definition of “Permitted Liens” set forth
in Section 1.1 hereof; and

     (iii) Such Sale Leaseback Transaction either (x) complies with the provisions of this
Agreement or (y) is consummated within twelve (12) months of the date on which the
construction of all the leased assets has been completed, whichever is later.

     7.4 Payment Restrictions. The Borrower will not, and will not permit any of its
Restricted Subsidiaries to, enter into any agreement, instrument, or other document which prohibits
or restricts in any way or to otherwise, directly or indirectly, create or cause or suffer to exist
or become effective any encumbrance or restriction on the ability of any Restricted Subsidiary to
(i) pay dividends, or make any other distribution in respect of its capital stock or any other
equity interest or participation in its profits owned by the Borrower or any Restricted Subsidiary,
or pay or repay any indebtedness owed to the Borrower or any Restricted Subsidiary, (ii) make loans
or advances to the Borrower, or (iii) transfer any of its properties or assets to the Borrower or
any Restricted Subsidiary (subject to the rights of any holder of a Lien on any such properties or
assets which Lien is a Permitted Lien).

35

 

     7.5 Limitations on Distributions. The Borrower will not declare or make, or permit
any Restricted Subsidiary to declare or make, any distribution, dividend, payment or other
distribution of assets, properties, cash, rights, obligations or securities (collectively,
“Distributions”) on account of its capital stock, or purchase, redeem or otherwise acquire for
value any capital stock, or any warrants, rights or options to acquire such capital stock, now or
hereafter outstanding, except that:

     (a) The Borrower may pay dividends to its shareholders if no Event of Default has occurred and
is continuing, either before the declaration and payment of such dividends or after giving effect
thereto; and

     (b) Restricted Subsidiaries may make Distributions to the Borrower or to other Restricted
Subsidiaries.

     7.6 [RESERVED]

     7.7 Regulation U. The Borrower will not permit any part of the proceeds of the loan
or loans made pursuant to this Agreement to be used to purchase or carry or to reduce or retire any
loan incurred to purchase or carry any margin stock (within the meaning of Regulation U of the
Board of Governors of the Federal Reserve System) or to extend credit to others for the purpose of
purchasing or carrying any such margin stock, or to be used for any other purpose which violates,
or which would be inconsistent with, the provisions of Regulation U or other applicable regulation.

     7.8 Transactions with Affiliates. Neither the Borrower nor any Restricted Subsidiary
will enter into any transaction (including, without limitation, the purchase, sale, lease, or
exchange of any property, the rendering of any services, or the payment of management fees) with
any Affiliate, except: (i) transactions in the ordinary course of the business of the Borrower or
such Restricted Subsidiary, and in good faith and upon commercially reasonable terms that are no
less favorable to it than it would obtain in a comparable arm’s length transaction with a Person
other than an Affiliate; and (ii) transactions between the Borrower and any wholly-owned Restricted
Subsidiary which are not otherwise prohibited by this Agreement.

     7.9 Limitation on Nature of Business. The Borrower and the Restricted Subsidiaries
will remain engaged in lines of business related to the businesses in which the Borrower and its
Restricted Subsidiaries are currently engaged.

     7.10 Restricted Subsidiaries. The Borrower will not hereafter designate any entity as
a Restricted Subsidiary hereunder (and any such designation shall be without effect hereunder)
unless:

     (i) The board of directors of the Borrower shall have duly adopted a resolution
approving such designation, and the Bank shall have received a copy of such resolution
certified by the secretary or assistant secretary of the company;

     (ii) Such entity satisfies the requirements of the definition of “Restricted
Subsidiary” set forth in this Agreement;

36

 

     (iii) No Event of Default shall exist prior to, as a result of, or immediately after
giving effect to, such designation;

     (iv) Immediately after such designation and including such entity in such
determination, the Borrower shall be permitted to incur at least $1.00 of additional Funded
Debt pursuant to the provisions of this Agreement;

     (v) Such entity shall have executed a Guaranty pursuant to the provisions of Section
3.2 hereof and obtained, if required by the Bank, an opinion of counsel reasonably
satisfactory to it as to the due authorization, execution, and delivery of such Guaranty by
such corporation; and

     (vi) The Borrower shall promptly, and in any event within seven (7) Business Days after
such designation, give notice to the Bank of the fact of such designation, the name,
jurisdiction of incorporation or organization, principal business address, and business of
such newly-designated Restricted Subsidiary, and certifications as to and computations
showing compliance with the requirements of this Section, and shall deliver to the Bank with
such notice the Guaranty and counsel opinion, if any;

provided, however, that, for the purposes of this Section, any computation of any financial
covenant in connection with the determination of the absence of an Event of Default or the ability
of the Borrower to incur Indebtedness after giving effect to the designation of a corporation as a
Restricted Subsidiary shall be made on a pro forma basis, and, without limitation, shall include
the Indebtedness of such corporation in any such computation for the relevant period in the case of
any such designation and include the net income or EBITDA of such corporation in such computation
in the case of any such designation. Notwithstanding the foregoing provisions of this Section, to
the extent that a Subsidiary is not designated a Restricted Subsidiary within ninety (90) days
after the day on which such Subsidiary becomes a Subsidiary of the Borrower, such Subsidiary shall
be deemed to be an Unrestricted Subsidiary. Any designation of a Person as a Restricted Subsidiary
shall be irrevocable.

     7.11 Changes in Governing Documents, Accounting Methods, Fiscal Year. The Borrower
will not, and will not permit its Subsidiaries to, amend in any respect its constituent documents
from that in existence on the date of this Agreement or change its respective accounting methods or
practices, its depreciation or amortization policy or rates, or its fiscal year end from that in
existence as of the date of the financial statements provided to the Bank pursuant to Section 4.5
hereof, except as required to comply with law or with GAAP.

     7.12 Limitation on Incurrence of Funded Debt. The Borrower agrees that throughout the
term of the Revolving Credit:

     (a) Neither the Borrower nor any Restricted Subsidiary shall at any time, directly or
indirectly, incur, create, assume, guarantee or become liable in any manner with respect to any
Funded Debt unless, immediately after giving effect to such incurrence: (i) the ratio of
Consolidated Funded Debt (determined immediately after giving effect to such incurrence) to EBITDA
(for the four (4) most recent full fiscal quarters) shall be equal to or less than 3.50 to 1.00;
and (ii) no Event of Default shall exist.

37

 

     (b) For purposes of this Section 7.12, if Funded Debt is incurred by the Borrower or a
Restricted Subsidiary for the purpose of acquiring Voting Stock of or any assets of any Person
which is not a Restricted Subsidiary and, immediately after and giving effect to such acquisition,
such Person will be a Restricted Subsidiary (in the case of an acquisition of Voting Stock) or such
assets will be owned by Borrower of a Restricted Subsidiary (in the case of an acquisition of
assets), then the amounts of EBITDA of such Person or of EBITDA attributable to such assets which
would have been included in EBITDA if such Person had been a Restricted Subsidiary or such assets
had been owned by Borrower or a Restricted Subsidiary during the relevant fiscal quarters shall be
included in EBITDA for the relevant fiscal quarters for purposes of determining compliance with
this Section 7.12.

SECTION 8. EVENTS OF DEFAULT.

     The following events shall constitute “Events of Default” hereunder:

     8.1 Payment of Obligations Under Loan Documents. The Borrower fails to make timely
payment of any principal, interest, or other amount due on any indebtedness owed the Bank under the
Loan Documents, or fails to make any other payment to the Bank as contemplated thereunder either by
the terms hereof or otherwise when due, and such failure shall continue for five (5) days.

     8.2 Representation or Warranty. Any representation or warranty made or deemed made by
the Borrower or any Restricted Subsidiary herein or in any writing furnished in connection with or
pursuant to the Loan Documents, or any report certificate, financial statement, or other
information provided by others and furnished by the Borrower or any Restricted Subsidiary to the
Bank in connection with or pursuant to the Loan Documents, shall be false or misleading in any
material respect on the date when made or when deemed made.

     8.3 Covenants under this Agreement. A default in the observance or performance of any
of the conditions, covenants or agreements of Borrower set forth in Sections 6.5, 6.6(d), 6.14 or
7.1 through 7.13, inclusive.

     8.4 Other Covenants Under the Loan Documents. The Borrower or any other Person fails
to fully and promptly perform when due (i) any other agreement, covenant, term, or condition
binding on it contained in this Agreement, and such failure shall have continued unremedied for
thirty (30) days after notice thereof has been given to Borrower or (ii) any agreement, covenant,
term or condition binding on it contained in any other Loan Document (taking into account
applicable periods of notice and cure, if any).

     8.5 Payment, Performance, or Default of other Monetary Obligations. The Borrower or
any Restricted Subsidiary fails to make payment on any contract obligation or of principal or
interest on any indebtedness other than that created under the Loan Documents or otherwise owed to
the Bank, individually or in the aggregate, exceeding $2,500,000.00, beyond any period of grace
provided with respect thereto, or fails to fully and promptly perform any other obligation,
agreement, term, or condition contained in any agreement under which any such other Indebtedness is
created, or there is otherwise a default or event of default thereunder, if the effect of any such
failure or default is to cause, or permit the holder or holders of such

38

 

indebtedness (or a trustee or other person or entity acting in behalf of such holder or
holders) to cause, such indebtedness to become due prior to its stated maturity.

     8.6 Covenants or Defaults to the Bank or Others; Revocation of Guaranty. The Borrower
or any Restricted Subsidiary fails to fully and promptly perform when due any agreement, covenant,
term, or condition binding on it, contained in any lease, contract, or other agreement to which it
is a party or in respect of which it is obligated, other than the Loan Documents and other than any
monetary default (as described above), beyond any period of grace provided with respect thereto, or
there is otherwise a default or event of default thereunder, if such failure or default would,
either individually or in the aggregate, materially and adversely affect the business, earnings,
prospects, properties, or conditions (financial or otherwise) of the Borrower and the Restricted
Subsidiaries, taken as a whole; or any Restricted Subsidiary revokes or attempts to revoke any
Guaranty.

     8.7 Liquidation; Dissolution; Bankruptcy; Etc. Liquidation or dissolution of the
Borrower, the Parent or any Restricted Subsidiary, suspension of the business of the Borrower or
any Restricted Subsidiary, or the filing or commencement by the Borrower, the Parent or any
Restricted Subsidiary of a voluntary petition, case, proceeding, or other action seeking
reorganization, arrangement, readjustment of its debts, or any other relief under any existing or
future law of any jurisdiction, domestic or foreign, state or federal, relating to bankruptcy,
insolvency, reorganization or relief of debtors, or any other action of the Borrower, the Parent or
any Restricted Subsidiary indicating its consent to, approval of, or acquiescence in, any such
petition, case, proceeding, or other action seeking to have an order for relief entered with
respect to it or its debts; the application by the Borrower, the Parent or any Restricted
Subsidiary for, or the appointment, by consent or acquiescence of, a receiver, trustee, custodian,
or other similar official for the Borrower or any Restricted Subsidiary, or for all or a
substantial part of its respective property; the making by the Borrower or any Restricted
Subsidiary of an assignment for the benefit of creditors; or the inability of the Borrower or any
Restricted Subsidiary, or the admission by the Borrower or any Restricted Subsidiary in writing of
its inability to pay its debts as they mature.

     8.8 Involuntary Bankruptcy, Etc. Commencement of an involuntary petition, case,
proceeding, or other action against the Borrower, the Parent or any Restricted Subsidiary under the
Bankruptcy Code or seeking reorganization, arrangement, readjustment of its debts, or any other
relief under any existing or future law of any jurisdiction, domestic or foreign, state or federal,
relating to bankruptcy, insolvency, reorganization, or relief of debtors; or the involuntary
appointment of a receiver, trustee, custodian, or other similar official for the Borrower, the
Parent or any Restricted Subsidiary, or for all or a substantial part of its respective property or
assets; or there shall be commenced against the Borrower, the Parent or any Restricted Subsidiary
any case, proceeding, or other action seeking issuance of a warrant of attachment, execution,
distraint, or similar process against all or any substantial part of the assets, or property of
such person which results in the entry of an order for such relief, and the continuance of any of
such for sixty (60) days without being vacated, discharged, stayed, bonded, or dismissed.

     8.9 Judgments. The rendition of a judgment or judgments against the Borrower or any
Restricted Subsidiary for the payment of damages or money, individually or in the

39

 

aggregate, in excess of $2,500,000, if the same is/are not discharged or if a writ of
execution or similar process is issued with respect thereto and is not stayed within the time
allowed by law for filing notice of appeal of the final judgment.

     8.10 Attachment, Garnishment, Liens Imposed by Law. The issuance of a writ of
attachment or garnishment against, or the imposition of a lien by operation of law on, any property
of the Borrower or any Restricted Subsidiary, if the amount of the claim or the value of the
affected property is in excess of $2,500,000, individually or in the aggregate, and if forty-five
(45) days have elapsed and the proceeding or lien has not been vacated, satisfied, dismissed, or
stayed pending appeal.

     8.11 ERISA.

     (a) Any domestic Pension Plan (other than a Multiemployer Plan) shall incur an “accumulated
funding deficiency” (within the meaning of Section 412 of the Code) with respect to any plan year;
or

     (b) Any waiver shall be sought or granted under Section 412(d) of the Code; or

     (c) Any foreign Pension Plan shall violate any funding requirement imposed by applicable
foreign law; or

     (d) Any Pension Plan shall be, have been or be likely to be terminated or the subject of
termination proceedings under ERISA; or

     (e) the Borrower, the Parent, any Subsidiary, or any ERISA Affiliate shall incur or be likely
to incur a liability to or on account of a Pension Plan under Sections 4062, 4063, 4064, or 4201 of
ERISA or comparable provision of applicable foreign law, and there shall result from one or more of
the events set forth in the foregoing clauses (i) through (v) either a liability or a material risk
of incurring a liability to the PBGC, any foreign governmental entity, or a Pension Plan, which
could have a material and adverse effect on the business, earnings, prospects, properties, or
condition (financial or otherwise) of the Borrower or the Borrower and its Restricted Subsidiaries,
taken as a whole.

     8.12 Corporate Existence. Any act or omission (formal or informal) of the Borrower,
the Parent or any Restricted Subsidiary or its officers, directors, or shareholders leading to, or
resulting in, the termination, invalidation (partial or total), revocation, suspension,
interruption, or unenforceability of (i) its corporate existence, rights, and privileges, or (ii)
its licenses, franchises, or permits where the failure to maintain, either individually or in the
aggregate, is reasonably likely to materially adversely affect the business, earnings, prospects,
properties, or condition (financial or otherwise) of the Borrower and its Restricted Subsidiaries,
taken as a whole.

SECTION 9. REMEDIES OF THE BANK.

     If any one or more of the Events of Default described in Section 8 shall occur, the Bank may,
at its option at any time thereafter, take one or more of the following actions: (i) declare all
amounts due and payable hereunder by the Borrower to the Bank and all other obligations and

40

 

indebtedness owed by the Borrower to the Bank to be forthwith due and payable (with the
exception of an Event of Default described in Sections 8.7 or 8.8, in which case the amounts due
and payable hereunder by the Borrower to the Bank and all other obligations and indebtedness owed
by the Borrower to the Bank shall automatically become due and payable), whereupon the indebtedness
owed to the Bank by the Borrower hereunder and all other obligations owed by the Borrower to the
Bank with accrued interest thereon, whether contingent or direct, shall forthwith become due and
payable, without presentment, demand, protest, or other notice of any kind from the Bank, all of
which are hereby expressly waived, anything contained in the Loan Documents to the contrary
notwithstanding, and all commitments to make Advances shall terminate; (ii) require the Borrower to
grant a lien or a security interest in all assets of the Borrower to the Bank, subject to the
provisions of Section 3.1(b) hereof, and (iii) immediately proceed to do all other things provided
for by law or the Loan Documents to enforce its rights hereunder and to collect all amounts owing
to the Bank by the Borrower. No right, power, or remedy conferred upon the Bank by the Loan
Documents shall be exclusive of any other right, power, or remedy referred to therein or now or
hereafter available at law or in equity.

     Upon the occurrence and during the continuance of any Event of Default, Borrower shall
immediately upon demand by Bank deposit with Bank cash collateral in the amount equal to the
maximum amount available to be drawn at any time under any Letter of Credit then outstanding.

SECTION 10. CHANGES IN LAW OR CIRCUMSTANCES; INCREASED COSTS; PRICING GRID.

     10.1 Reimbursement of Prepayment Costs. If Borrower makes any payment of principal
with respect to any Eurocurrency-based Advance (or converts or refunds, or attempts to convert or
refund any such Advance) on any day other than the last day of the Interest Period applicable
thereto (whether voluntarily, by acceleration, or otherwise), or if Borrower fails to borrow,
refund or convert any Eurocurrency-based Advance after notice has been given by Borrower to Bank in
accordance with the terms hereof requesting such Advance, or if Borrower fails to make any payment
of principal or interest in respect of a Eurocurrency-based Advance when due, Borrower shall
reimburse Bank on demand for any resulting loss, cost or expense incurred by Bank as a result
thereof, including, without limitation, any such loss, cost or expense incurred in obtaining,
liquidating, employing or redeploying deposits from third parties, whether or not Bank shall have
funded or committed to fund such Advance. Such amount payable by Borrower to Bank may include,
without limitation, an amount equal to the excess, if any, of (a) the amount of interest which
would have accrued on the amount so prepaid, or not so borrowed, refunded or converted, for the
period from the date of such prepayment or of such failure to borrow, refund or convert, through
the last day of the relevant Interest Period, at the applicable rate of interest for said
Advance(s) provided under this Agreement, over (b) the amount of interest (as reasonably determined
by Bank) which would have accrued to Bank on such amount by placing such amount on deposit for a
comparable period with leading banks in the interbank eurocurrency market. Calculation of any
amounts payable to Bank under this paragraph shall be made as though such Bank shall have actually
funded or committed to fund the relevant Advance through the purchase of an underlying deposit in
an amount equal to the amount of such Advance and having a maturity comparable to the relevant
Interest Period; provided, however, that Bank may fund any Eurocurrency-based Advance in any manner
it deems fit and the foregoing assumptions shall be utilized only for the purpose of the
calculation

41

 

of amounts payable under this paragraph. Upon the written request of Borrower, Bank shall
deliver to Borrower a certificate setting forth the basis for determining such losses, costs and
expenses, which certificate shall be conclusively presumed correct, absent manifest error.

     10.2 Bank’s Eurocurrency Lending Office. For any Advance to which the
Eurocurrency-based Rate is applicable, if Bank shall designate a Eurocurrency Lending Office which
maintains books separate from those of the rest of Bank, Bank shall have the option of maintaining
and carrying the relevant Advance on the books of such Eurocurrency Lending Office.

     10.3 Circumstances Affecting Eurocurrency-based Rate Availability. If with respect to
any Interest Period, Bank shall determine that, by reason of circumstances affecting the interbank
markets generally, deposits in eurocurrency in the applicable amounts are not being offered to Bank
for such Interest Period, then Bank shall forthwith give notice thereof to the Borrower.
Thereafter, until Bank notifies Borrower that such circumstances no longer exist, the obligation of
Bank to make Eurocurrency-based Advances, and the right of Borrower to convert an Advance to or
refund an Advance as a Eurocurrency-based Advance shall be suspended, and the Borrower shall repay
in full (or cause to be repaid in full) the then outstanding principal amount of each such
Eurocurrency-based Advance covered hereby together with accrued interest thereon, and all other
amounts payable hereunder on the last day of the then current Interest Period applicable to such
Advance. Upon the date for repayment as aforesaid and unless Borrower notifies Bank to the contrary
within two (2) Business Days after receiving a notice from Bank pursuant to this Section, such
outstanding principal amount shall be converted to a Prime-based Advance as of the last day of such
Interest Period.

     10.4 Laws Affecting Eurocurrency-based Advance Availability. In the event that any
applicable law, rule or regulation (whether domestic or foreign) now or hereafter in effect and
whether or not currently applicable to Bank or any interpretation or administration thereof by any
governmental authority charged with the interpretation or administration thereof, or compliance by
Bank (or its Eurocurrency Lending Office) with any request or directive (whether or not having the
force of law) of any such authority, shall make it unlawful or impossible for Bank (or its
Eurocurrency Lending Offices) to honor its obligations hereunder to make or maintain any Advance
with interest at the Eurocurrency-based Rate, Bank shall so notify Borrower and the right of
Borrower to convert an Advance or refund an Advance as a Eurocurrency-based Advance, shall be
suspended and thereafter Borrower may select as Applicable Interest Rates only those which remain
available and which are permitted to be selected hereunder, and if Bank may not lawfully continue
to maintain an Advance to the end of the then current Interest Period applicable thereto as a
Eurocurrency-based Advance, Borrower shall immediately prepay such Advance, together with interest
to the date of payment, and any amounts payable under Section 10.1 with respect to such prepayment
and the applicable Advance shall immediately be converted to a Prime-based Advance and the
Prime-based Rate shall be applicable thereto.

     10.5 Increased Cost of Eurocurrency-based Advances. In the event that any applicable
law, rule or regulation (whether domestic or foreign) now or hereafter in effect and whether or not
currently applicable to Bank or any interpretation or administration thereof by any governmental
authority, central bank or comparable agency charged with the interpretation

42

 

or administration thereof, or compliance by Bank with any request or directive (whether or not
having the force of law) made by any such authority, central bank or comparable agency after the
date hereof:

     (a) shall subject Bank to any tax, duty or other charge with respect to any Advance or any
Note or shall change the basis of taxation of payments to Bank of the principal of or interest on
any Advance or the Revolving Credit Note or any other amounts due under this Agreement in respect
thereof (except for changes in the rate of tax on the overall net income or revenues of Bank
imposed by the United States of America or the jurisdiction in which such Bank’s principal
executive office is located); or

     (b) shall impose, modify or deem applicable any reserve (including, without limitation, any
imposed by the Board of Governors of the Federal Reserve System), special deposit or similar
requirement against assets of, deposits with or for the account of, or credit extended by Bank or
shall impose on Bank or the interbank markets any other condition affecting any Advance or the
Revolving Credit Note;

and the result of any of the foregoing is to increase the costs to Bank of making, funding or
maintaining any part of the Indebtedness hereunder as a Eurocurrency-based Advance or to reduce the
amount of any sum received or receivable by the Bank under this Agreement or under the Revolving
Credit Note in respect of a Eurocurrency-based Advance then Bank shall promptly notify the Borrower
in writing of such fact and demand compensation therefor and, within fifteen (15) days after such
notice, Borrower agrees to pay to Bank such additional amount or amounts as will compensate Bank
for such increased cost or reduction. A certificate of Bank setting forth the basis for determining
such additional amount or amounts necessary to compensate Bank shall be conclusively presumed to be
correct save for manifest error.

     10.6 Other Increased Costs. In the event that after the date hereof the adoption of
or any change in any applicable law, treaty, rule or regulation (whether domestic or foreign) now
or hereafter in effect and whether or not presently applicable to Bank, or any interpretation or
administration thereof by any governmental authority charged with the interpretation or
administration thereof, or compliance by Bank with any guideline, request or directive of any such
authority (whether or not having the force of law), including any risk based capital guidelines,
affects or would affect the amount of capital required or expected to be maintained by Bank (or any
corporation controlling Bank) and Bank determines that the amount of such capital is increased by
or based upon the existence of Bank’s obligations or Advances hereunder and such increase has the
effect of reducing the rate of return on Bank’s (or such controlling corporation’s) capital as a
consequence of such obligations or Advances hereunder to a level below that which Bank (or such
controlling corporation) could have achieved but for such circumstances (taking into consideration
its policies with respect to capital adequacy) by an amount deemed by Bank to be material, then the
Borrower shall pay to Bank, from time to time, upon request by such Bank, additional amounts
sufficient to compensate such Bank (or such controlling corporation) for any increase in the amount
of capital and reduced rate of return which Bank reasonably determines to be allocable to the
existence of Bank’s obligations or Advances hereunder. A statement as to the amount of such
compensation, prepared in good faith and in reasonable detail by Bank, shall be submitted by Bank
to the Borrower, reasonably

43

 

promptly after becoming aware of any event described in this Section 10.6 and shall be
conclusive, absent manifest error in computation.

     10.7 Margin Adjustment. Adjustments to the Applicable Margin, the Applicable Facility
Fee Percentage and the Applicable Letter of Credit Percentage, based on Schedule 10.7, shall be
implemented on a quarterly basis as follows:

     (a) Such adjustments shall be given prospective effect only, effective as to all Advances
outstanding hereunder, the Applicable Facility Fee Percentage and the Applicable Letter of Credit
Percentage, upon the date of delivery of the financial statements under Sections 6.1(a) and 6.1(b)
hereunder and the Certificate of Compliance under Section 6.1(e) hereof, in each case establishing
applicability of the appropriate adjustment and in each case with no retroactivity or claw-back.
If Borrower shall fail timely to deliver such financial statements or the Certificate of Compliance
and such failure continues for three (3) days, then (but without affecting the Event of Default
resulting therefrom) from the date delivery of such financial statements and report was required
until such financial statements and report are delivered, the Applicable Margin, the Applicable
Facility Fee Percentage and Applicable Letter of Credit Percentage shall be at the highest level on
the pricing grid attached to this Agreement as Schedule 10.7.

     (b) From the date hereof until the required date of delivery (or, if earlier, delivery) of the
financial statements under Section 6.1(a) or 6.1(b) hereof, as applicable, and the Certificate of
Compliance under Section 6.1(e) hereof, for the fiscal quarter ending August 2, 2008, the
Applicable Margin, the Applicable Facility Fee Percentage and Applicable Fee Percentage shall be
those set forth under the Level I column of the pricing matrix attached to this Agreement as
Schedule 10.7. Thereafter, the Applicable Margin, the Applicable Facility Fee Percentage and
Applicable Fee Percentage shall be based upon the quarterly financial statements and Certificate of
Compliance, subject to recalculation as provided in Section 10.7(a) above.

SECTION 11. MISCELLANEOUS.

     11.1 Course of Dealing; Amendment; Supplemental Agreements. No course of dealing
between the parties hereto shall be effective to amend, modify, or change any provision of this
Agreement. This Agreement may not be amended, modified, or changed in any respect except by an
agreement in writing signed by the party against whom such change is to be enforced. The parties
hereto may, subject to the provisions of this Section, from time to time, enter into written
agreements supplemental hereto for the purpose of adding any provisions to this Agreement or
changing in any manner the rights and obligations of the parties hereunder. Any such supplemental
agreement in writing shall be binding upon the parties thereto.

     11.2 Waiver By the Bank of Requirements. The Bank may, in its sole discretion, sign
and deliver to the Borrower a written statement waiving any of the requirements of this Agreement
and in such event the waiver shall be effective only in the specific instance and for the specific
purpose for which given.

     11.3 Waiver of Default. The Bank may, in its sole discretion, by written notice to
the Borrower, at any time and from time to time, waive any Event of Default and its consequences,

44

 

or any default in the performance or observance of any condition, covenant, or other term hereof
and its consequences. Any such waiver shall be for such period and subject to such conditions as
shall be specified in any such notice. In the case of any such waiver, the Borrower and the Bank
shall be restored to their former positions prior to such Event of Default or default and shall
have the same rights as they had thereto, and any Event of Default or default so waived shall be
deemed to be cured and not continuing; but no such waiver shall extend to any subsequent or other
Event of Default or default, or impair any right consequent thereto.

     11.4 Notices. Notwithstanding any provisions to the contrary contained in the other
Loan Documents, all notices, requests and demands to or upon the parties to this Agreement pursuant
to any Loan Document shall be deemed to have been given or made when delivered by hand, or when
deposited in the mail, postage prepaid by registered or certified mail, return receipt requested,
addressed as follows or to such other address as may be hereafter designated in writing by one
party to the other:

	 	 	 	 	 
	 

	 	The Borrower:
	 	NEWBEVCO, INC.
	 

	 	 	 	One University Drive, Suite 400A
	 

	 	 	 	Plantation, Florida 33324
	 

	 	 	 	Attention: President

  and
	 

	 	 	 	Attention: Legal Counsel
	 
	 	 	 	 
	 

	 	The Bank:
	 	COMERICA BANK
	 

	 	 	 	4100 Spring Valley Road
	 

	 	 	 	Suite 400
	 

	 	 	 	Dallas, Texas 75244
	 

	 	 	 	Attention: Group Manager, U.S. Banking — Southwest

except in cases where it is expressly herein provided that such notice, request, or demand is not
effective until received by the party to whom it is addressed.

     11.5 No Waiver; Cumulative Remedies. No omission or failure of the Bank to exercise
and no delay in exercising by the Bank of any right, power, or privilege hereunder, shall impair
such right, power, or privilege, shall operate as a waiver thereof or be construed to be a waiver
thereof; nor shall any single or partial exercise of any right, power, or privilege hereunder
preclude any other or further exercise thereof or the exercise of any other right, power, or
privilege. The rights and remedies provided in the Loan Documents are cumulative and not exclusive
of any rights or remedies provided by law, and the warranties, representations, covenants, and
agreements made therein shall be
cumulative, except in the case of irreconcilable inconsistency, in which case the provisions
of this Agreement shall control.

     11.6 Reliance Upon, Survival of, and Materiality of Representations and Warranties,
Agreements, and Covenants. All representations and warranties, agreements, and covenants made
by the Borrower in the Loan Documents are material and shall be deemed to have been relied upon by
the Bank and shall survive the execution and delivery of the Loan Documents and the making of the
loan or loans herein contemplated, and shall
continue in full

45

 

force and effect so long as any
indebtedness is owed to the Bank by the Borrower pursuant hereto or so long as there shall be any
commitment by the Bank to make loans to the Borrower hereunder. All statements contained in any
certificate to the Bank by Borrower, the Parent or any Subsidiary at any time by or on behalf of
the Borrower pursuant hereto shall constitute representations and warranties by the Borrower
hereunder.

     11.7 Set-Off. Upon the occurrence of any Event of Default, the Bank is hereby
authorized at any time and from time to time, without notice to the Borrower, to set off,
appropriate, and apply any and all monies, securities and other property of the Borrower and all
proceeds thereof, now or hereafter held or received by, or in transit to, the Bank from or for the
Borrower, and also upon any and all deposits (general or special) and credits of the Borrower, if
any, at the Bank or all items hereinabove referred to against all indebtedness of the Borrower owed
to the Bank, whether under the Loan Documents or otherwise, whether now existing or hereafter
arising. The Bank shall be deemed to have exercised such right of set-off and to have made a
charge against such items immediately upon the occurrence of such Event of Default although made or
entered on its books subsequent thereof.

     11.8 Severability and Enforceability of Provisions. If any one or more of the
provisions of the Loan Documents is determined to be invalid, illegal, or unenforceable in any
respect as to one or more of the parties, all remaining provisions nevertheless shall remain
effective and binding on the parties thereto and the validity, legality, and enforceability thereof
shall not be affected or impaired thereby. To the extent permitted by applicable law, the parties
hereby waive any provision of law that renders any provision hereof invalid, illegal, or
unenforceable in any respect.

     11.9 Payment of Expenses, Including Attorneys’ Fees and Taxes. The Borrower agrees
(a) to pay or reimburse the Bank for all its reasonable and customary out-of-pocket costs and
expenses incurred in connection with the preparation, negotiation, execution, and delivery of, and
any amendment, supplement, or modification to, or waiver or consent under, the Loan Documents, and
the consummation of the transactions contemplated thereby, including, without limitation, the
reasonable and customary fees and disbursements of counsel for the Bank, taxes, and all recording
or filing fees, (b) except as expressly provided otherwise herein, to pay or reimburse the Bank for
all of its costs and expenses incurred in connection with the administration, supervision,
collection, or enforcement
of, or the preservation of any rights under, the Loan Documents, including, without
limitation, the reasonable fees and disbursements of counsel for the Bank, including attorneys’
fees out of court, in trial, on appeal, in bankruptcy proceedings, or otherwise, (c) without
limiting the generality of provision (a) hereof, to pay or reimburse the Bank for, and indemnify
and hold the Bank harmless against liability for, any and all documentary stamp taxes,
non-recurring intangible taxes, or other taxes, together with any interest, penalties, or other
liabilities in connection therewith, that the Bank now or hereafter determines, are payable with
respect to the Loan Documents, the obligations evidenced by the Loan Documents, any Advances under
the Loan Documents, and any guaranties or mortgages or other security instruments, and (d) to pay,
indemnify, and hold the Bank harmless from and against any and all other liabilities, obligations,
losses, damages, penalties, actions, judgments, suits, costs, expenses, or disbursements of any
kind or nature whatsoever with respect to the execution, delivery, enforcement, performance, and
administration of the Loan Documents with the exception of the willful or gross negligence of

46

 

the
Bank. The agreements in this Section shall survive repayment of all other amounts payable
hereunder or pursuant hereto, now or in the future, and shall be secured by all collateral that
secures the loan or loans described herein.

     11.10 Obligations Absolute. The obligations of the Borrower under this Agreement are
primary, absolute, independent, unconditional, and irrevocable, and shall be paid and performed
strictly in accordance with the terms of this Agreement, under all circumstances whatsoever,
including without limitation, the following circumstances:

     (a) Any lack of validity or enforceability of any portion of any letter of credit, this
Agreement, or any agreement or instrument relating thereto;

     (b) Any amendment or waiver of or any consent to or actual departure from any letter of
credit, this Agreement, or any agreement or instrument relating thereto;

     (c) Any exchange, release, or nonperfection of any collateral;

     (d) Any delay, extension of time, renewal, compromise, or other indulgence or modification
granted to or agreed by the Bank, with or without notice to or approval by the Borrower in respect
of any of the Borrower’s indebtedness to the Bank under this Agreement; or

     (e) The failure of the Bank to give any notice to the Borrower hereunder.

     11.11 Successors and Assigns. This Agreement shall be binding upon and inure to the
benefit of the Bank and the Borrower, and, to the extent permitted herein, their respective
successors, assignees, or transferees. In the event of such transfer or assignment, the rights and
privileges herein conferred upon the Bank shall automatically extend to and be vested in the
successor, assignee, or transferee of the Bank, and the Bank shall be relieved of all liability
hereunder. The Borrower may not assign or transfer any of its rights or obligations under this
Agreement without the prior written consent of the Bank.

     11.12 Counterparts; Effective Date. This Agreement may be signed in any number of
separate counterparts, no one of which need contain all of the signatures of the parties, and as
many of such counterparts as shall together contain all of the signatures of the parties shall be
deemed to constitute one and the same instrument. A set of the counterparts of this Agreement
signed by all parties hereto shall be lodged with the Bank. This Agreement shall become effective
upon the receipt by the Bank of signed counterparts of this Agreement from each of the parties
hereto or telecopy confirmation of the signing of counterparts of this Agreement by each of the
parties hereto.

     11.13 Participations. The Borrower recognizes that the Bank may enter into
participation agreements with other financial institutions, including one or more banks or other
lenders, whereby Bank will allocate a portion of the loan or loans contemplated hereunder. For the
benefit of such other banks and lenders, the Borrower agrees that such other banks and lenders
shall have the same rights of set-off against the Borrower granted the Bank in Section 11.7 hereof.
The Bank will use its best efforts to advise the Borrower of the names of any participants and the
extent of their interest herein.

47

 

     11.14 Law of Michigan. This Agreement and the Revolving Credit Note have been
delivered at Detroit, Michigan, and shall be governed by and construed and enforced in accordance
with the laws of the State of Michigan, except to the extent that the Uniform Commercial Code,
other personal property law or real property law of a jurisdiction where Collateral is located is
applicable and except as and to the extent expressed to the contrary in any of the Loan Documents.
Whenever possible each provision of this Agreement shall be interpreted in such manner as to be
effective and valid under applicable law, but if any provision of this Agreement shall be
prohibited by or invalid under applicable law, such provision shall be ineffective to the extent of
such prohibition or invalidity, without invalidating the remainder of such provision or the
remaining provisions of this Agreement.

     11.15 Consent to Jurisdiction. Borrower and Bank hereby irrevocably submit to the
non-exclusive jurisdiction of any United States Federal or Michigan state court sitting in Detroit
in any action or proceeding arising out of or relating to this Agreement or any of the other Loan
Documents, and Borrower and Bank hereby irrevocably agree that all claims in respect of such action
or proceeding may be heard and determined in any such United States Federal or Michigan state
court. Borrower irrevocably consents to the service of any and all process in any such action or
proceeding brought in any court in or of the State of Michigan by the delivery of copies of such
process to Borrower at its address specified on the signature page hereto or by certified mail
directed to such address or such other address as may be designated by Borrower in a notice to the
other parties that complies as to delivery with the terms of Section 11.4. Nothing in this Section
shall affect the right of the Bank to serve process in any other manner permitted by law or limit
the right of Bank to bring any such action or proceeding against Borrower or any Restricted
Subsidiary or any of its or their property in the courts of any other jurisdiction. Borrower
hereby irrevocably waives any objection to the laying of venue of any such suit or proceeding in
the above described courts.

     11.16 Title and Headings; Table of Contents. The titles and headings preceding the
text of Sections and Sections of this Agreement and the Table of Contents have been included solely
for convenience of reference and shall neither constitute a part of this Agreement nor affect its
meaning, interpretation, or effect.

     11.17 Complete Agreement; No Other Consideration. The Loan Documents contain the
final, complete, and exclusive expression of the understanding of the Borrower and the Bank with
respect to the transactions contemplated by the Loan Documents and supersede any prior or
contemporaneous agreement or representation, oral or written, by or between the parties related to
the subject matter hereof. Without limiting the generality of the foregoing, there does not exist
any consideration or inducement other than as stated herein for the execution, delivery and
performance by the Borrower of the Loan Documents.

     11.18 Legal or Governmental Limitations. Anything contained in this Agreement to the
contrary notwithstanding, the Bank shall not be obligated to extend credit or make loans to the
Borrower in an amount in violation of any limitations or prohibitions provided by any applicable
statute or regulation.

     11.19 Interest. If the obligation of Borrower to pay interest on the principal
balance of the Revolving Credit Notes is or becomes in excess of the maximum interest rate which

48

 

Borrower is permitted by law to contract or agree to pay, giving due consideration to the execution
date of this Agreement, then, in that event, the rate of interest applicable with respect to such
Bank’s Percentage shall be deemed to be immediately reduced to such maximum rate and all previous
payments in excess of the maximum rate shall be deemed to have been payments in reduction of
principal and not of interest.

     11.20 Independence of Covenants. Each covenant hereunder shall be given independent
effect (subject to any exceptions stated in such covenant) so that if a particular action or
condition is not permitted by any such covenant (taking into account any such stated exception),
the fact that it would be permitted by an exception to, or would be otherwise within the
limitations of, another covenant shall not avoid the occurrence of a Default or an Event of
Default.

     11.21 Amendment and Restatement. This Agreement amends, restates and replaces the
Existing Credit Agreement.

     11.22 WAIVER OF TRIAL BY JURY.
THE BORROWER AND THE BANK HEREBY KNOWINGLY, VOLUNTARILY, AND INTENTIONALLY WAIVE THE RIGHT
THEY MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION BASED HEREON, OR ARISING OUT OF,
UNDER, OR IN CONNECTION WITH THE LOAN DOCUMENTS AND ANY OTHER DOCUMENT EXECUTED IN CONJUNCTION WITH
THE LOAN OR LOANS HEREUNDER, OR ANY COURSE OF CONDUCT, COURSE OF DEALING, STATEMENT (WHETHER ORAL
OR WRITTEN), OR ACTION OF EITHER PARTY. THIS PROVISION IS A MATERIAL INDUCEMENT FOR THE BANK TO
ENTER INTO ANY LOAN TRANSACTIONS HEREUNDER.

49

 

     IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed and
delivered by their proper and duly authorized officers as of the day and year first above written.

	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 
	 	 	BORROWER:	 	 
	 
	 	 	 	 	 	 
	 	 	NEWBEVCO, INC.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 
	 
	 

	 	Its:	 	 	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	BANK:	 	 
	 
	 	 	 	 	 	 
	 	 	COMERICA BANK	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 
	 
	 

	 	Its:	 	 	 	 
	 

	 	 	 	 	 	 

50

 

EXHIBIT “A”

REVOLVING CREDIT NOTE

			
	$50,000,000
	 	June 30, 2008

     On the Termination Date, FOR VALUE RECEIVED, NEWBEVCO, INC., a Delaware corporation
(“Borrower”), promises to pay to the order of Comerica Bank (“Bank”), in lawful money of the United
States of America, the sum of Fifty Million Dollars ($50,000,000), or so much of said sum as may
from time to time have been advanced and then be outstanding hereunder pursuant to the Second
Amended and Restated Credit Agreement dated as June 30, 2008, made by and between the Borrower and
Bank, as the same may be amended from time to time (the “Agreement”), together with interest
thereon as hereinafter set forth.

     Each of the Advances made hereunder shall bear interest at the Applicable Interest Rate from
time to time applicable thereto under the Agreement or as otherwise determined thereunder, and
interest shall be computed, assessed and payable as set forth in the Agreement.

     This Note is a note under which Advances (including refundings and conversions), repayments
and readvances may be made from time to time, but only in accordance with the terms and conditions
of the Agreement. This Note evidences borrowings under, is subject to, is secured in accordance
with, and may be accelerated or matured under, the terms of the Agreement, to which reference is
hereby made. Definitions and terms of the Agreement are hereby incorporated by reference herein.

     Borrower waives presentment for payment, demand, protest and notice of dishonor and nonpayment
of this Note and agrees that no obligation hereunder shall be discharged by reason of any
extension, indulgence, release, or forbearance granted by any holder of this Note to any party now
or hereafter liable hereon or any present or subsequent owner of any property, real or personal,
which is now or hereafter security for this Note.

     This Note amends, restates, supersedes, replaces and increases that certain Revolving Credit
Note dated as of December 10, 1998, made in the principal amount of $20,000,000 by Borrower payable
to Bank (“Existing Note”) and the initial Advance under this Note shall be deemed first applied, to
the extent necessary, to repay the existing indebtedness of Borrower to Bank under the Existing
Note; provided, however, the execution and delivery by Borrower of this Note shall not, in any
manner or circumstance, be deemed to be a novation of or to have terminated, extinguished or
discharged any of Borrower’s indebtedness evidenced by the Existing Note, all of which indebtedness
shall continue under and shall hereinafter be evidenced and governed by this Note.

1

 

     Nothing herein shall limit any right granted Bank by any other instrument or by law.

	 	 	 	 	 	 	 
	 	 	NEWBEVCO, INC.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 

	 	 
	 

	 	Its:	 	 	 	 
	 

	 	 	 	 

	 	 

2

 

SCHEDULE 10.7

PRICING GRID

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	BASIS FOR PRICING	 	LEVEL I	 	LEVEL II	 	LEVEL III	 	LEVEL IV	 	LEVEL V
	CONSOLIDATED FUNDED DEBT 

TO EBITDA RATIO

	 	< 0.75 to 1.0
	 	>0.75
to 1.0
 and

< 1.5 to 1.0
	 	>1.5
to 1.0
 and

< 2.0 to 1.0
	 	>2.0
to 1.0 <
 and

< 2.5 to 1.0
	 	> 2.5 to 1.0

	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	APPLICABLE FACILITY FEE 

PERCENTAGE

(expressed as basis points)

	 	 	15.00	 	 	 	20.00	 	 	 	25.00	 	 	 	25.00	 	 	 	25.00	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	APPLICABLE LETTER OF 

CREDIT PERCENTAGE

(expressed as basis points)

	 	 	30.00	 	 	 	45.00	 	 	 	50.00	 	 	 	75.00	 	 	 	100.00	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	APPLICABLE PRIME-BASED 

RATE MARGIN

(expressed as basis points)

	 	-50.00
	 	 	-25.00	 	 	 	0.00	 	 	 	0.00	 	 	 	50.00	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	APPLICABLE EUROCURRENCY
—BASED RATE MARGIN

(expressed as basis points)

	 	 	30.00	 	 	 	45.00	 	 	 	50.00	 	 	 	75.00	 	 	 	100.00EX-10.1

Exhibit 10.1

$425,000,000.00

FIRST AMENDED AND RESTATED CREDIT AGREEMENT

Dated as of September 8, 2008

among

RTI INTERNATIONAL METALS, INC.

as Borrower

and

The Lenders Party Hereto

and

NATIONAL CITY BANK

as Administrative Agent

and

CITIBANK, N.A.

as Syndication Agent

and

PNC BANK, NATIONAL ASSOCIATION

as Documentation Agent

and

PNC CAPITAL MARKETS LLC and FIFTH THIRD BANK

as Co-Lead Arrangers

and

PNC CAPITAL MARKETS LLC

as Sole Bookrunner

 

 

TABLE OF CONTENTS

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Page	 
	 	 
	ARTICLE I DEFINITIONS AND ACCOUNTING TERMS	 	 	1	 
	 
	 	Section 1.01	 	Defined Terms	 	 	1	 
	 
	 	Section 1.02	 	Other Interpretive Provisions	 	 	25	 
	 
	 	Section 1.03	 	Accounting Terms	 	 	26	 
	 
	 	Section 1.04	 	Times of Day	 	 	26	 
	 
	 	Section 1.05	 	Rounding	 	 	26	 
	 
	 	 	 	 	 	 	 	 
	ARTICLE II THE COMMITMENTS AND LOANS	 	 	27	 
	 
	 	Section 2.01	 	Revolving Loans	 	 	27	 
	 
	 	Section 2.02	 	Term Loans	 	 	27	 
	 
	 	Section 2.03	 	Swing Loans	 	 	28	 
	 
	 	Section 2.04	 	Letters of Credit	 	 	28	 
	 
	 	Section 2.05	 	Term Loan Borrowing; Revolving Loan Borrowings, Swing Loan Borrowings	 	 	29	 
	 
	 	Section 2.06	 	Conversions or Continuations	 	 	34	 
	 
	 	Section 2.07	 	Prepayments	 	 	35	 
	 
	 	Section 2.08	 	Termination or Reduction of Commitments	 	 	37	 
	 
	 	Section 2.09	 	Repayment of Loans	 	 	37	 
	 
	 	Section 2.10	 	Interest	 	 	38	 
	 
	 	Section 2.11	 	Interest Rate Determination	 	 	38	 
	 
	 	Section 2.12	 	Fees	 	 	39	 
	 
	 	Section 2.13	 	Computation of Interest and Fees	 	 	40	 
	 
	 	Section 2.14	 	Evidence of Debt	 	 	40	 
	 
	 	Section 2.15	 	Payments Generally; Administrative Agent’s Clawback	 	 	41	 
	 
	 	Section 2.16	 	Sharing of Payments by Lenders	 	 	42	 
	 
	 	Section 2.17	 	Increase in the Aggregate Revolving Credit Commitments	 	 	42	 
	 
	 	Section 2.18	 	Extension of Revolving Credit Maturity Date	 	 	44	 
	 
	 	Section 2.19	 	Issuance of Letters of Credit	 	 	48	 
	 
	 	 	 	 	 	 	 	 
	ARTICLE III TAXES, YIELD PROTECTION AND ILLEGALITY	 	 	52	 
	 
	 	Section 3.01	 	Taxes	 	 	52	 
	 
	 	Section 3.02	 	Illegality	 	 	55	 
	 
	 	Section 3.03	 	Inability to Determine Rates	 	 	55	 
	 
	 	Section 3.04	 	Increased Costs; Reserves on Eurodollar Rate Loans	 	 	56	 
	 
	 	Section 3.05	 	Compensation for Losses	 	 	57	 
	 
	 	Section 3.06	 	Mitigation Obligations; Replacement of Lenders	 	 	58	 
	 
	 	Section 3.07	 	Survival	 	 	59	 
	 
	 	 	 	 	 	 	 	 
	ARTICLE IV CONDITIONS PRECEDENT	 	 	59	 
	 
	 	Section 4.01	 	Conditions of Effectiveness	 	 	59	 
	 
	 	Section 4.02	 	Conditions to Borrowing and Issuance of Letters of Credits	 	 	61	 
	 
	 	Section 4.03	 	Conditions to Commitment Increases	 	 	61	 

 

 

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Page	 
	 	 
	ARTICLE V REPRESENTATIONS AND WARRANTIES	 	 	62	 
	 
	 	Section 5.01	 	Organization, Good Standing and Qualification	 	 	62	 
	 
	 	Section 5.02	 	Authority	 	 	62	 
	 
	 	Section 5.03	 	Governmental Filings; No Violations	 	 	62	 
	 
	 	Section 5.04	 	Financial Statements	 	 	63	 
	 
	 	Section 5.05	 	Disclosure	 	 	63	 
	 
	 	Section 5.06	 	Material Adverse Change	 	 	64	 
	 
	 	Section 5.07	 	Litigation	 	 	64	 
	 
	 	Section 5.08	 	Employee Benefits	 	 	64	 
	 
	 	Section 5.09	 	Compliance with Laws	 	 	65	 
	 
	 	Section 5.10	 	Environmental Matters	 	 	66	 
	 
	 	Section 5.11	 	Payment of Taxes	 	 	66	 
	 
	 	Section 5.12	 	Intellectual Property	 	 	67	 
	 
	 	Section 5.13	 	Title to Properties	 	 	67	 
	 
	 	Section 5.14	 	Material Contracts	 	 	67	 
	 
	 	Section 5.15	 	Insurance	 	 	67	 
	 
	 	Section 5.16	 	Federal Reserve Regulations	 	 	68	 
	 
	 	Section 5.17	 	Investment Company	 	 	68	 
	 
	 	Section 5.18	 	Subsidiaries	 	 	68	 
	 
	 	Section 5.19	 	Solvency	 	 	68	 
	 
	 	Section 5.20	 	Pledged Equity	 	 	69	 
	 
	 	Section 5.21	 	Pari Passu	 	 	69	 
	 
	 	 	 	 	 	 	 	 
	ARTICLE VI AFFIRMATIVE COVENANTS	 	 	69	 
	 
	 	Section 6.01	 	Financial Reporting	 	 	69	 
	 
	 	Section 6.02	 	Notices	 	 	71	 
	 
	 	Section 6.03	 	Use of Proceeds	 	 	71	 
	 
	 	Section 6.04	 	Preservation of Existence	 	 	72	 
	 
	 	Section 6.05	 	Insurance	 	 	72	 
	 
	 	Section 6.06	 	Compliance with Laws	 	 	72	 
	 
	 	Section 6.07	 	Access	 	 	72	 
	 
	 	Section 6.08	 	Payment Taxes and Other Obligations	 	 	73	 
	 
	 	Section 6.09	 	New Material Subsidiaries	 	 	73	 
	 
	 	Section 6.10	 	Maintenance of Properties and Leases	 	 	73	 
	 
	 	Section 6.11	 	Keeping of Records and Books of Account	 	 	73	 
	 
	 	Section 6.12	 	Further Assurances	 	 	74	 
	 
	 	Section 6.13	 	Transactions With Affiliates	 	 	74	 
	 
	 	 	 	 	 	 	 	 
	ARTICLE VII NEGATIVE COVENANTS	 	 	74	 
	 
	 	Section 7.01	 	Debt	 	 	74	 
	 
	 	Section 7.02	 	Liens	 	 	76	 
	 
	 	Section 7.03	 	Fiscal Year; Nature of Business, Accounting Policies	 	 	76	 
	 
	 	Section 7.04	 	Financial Covenants	 	 	76	 
	 
	 	Section 7.05	 	Liquidations, Mergers and Consolidations	 	 	76	 
	 
	 	Section 7.06	 	Dispositions of Assets or Subsidiaries	 	 	77	 
	 
	 	Section 7.07	 	Dividends and Related Distributions	 	 	78	 

ii

 

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Page	 
	 	 
	 
	 	Section 7.08	 	Changes in Organizational Documents	 	 	78	 
	 
	 	Section 7.09	 	Negative Pledge	 	 	79	 
	 
	 	 	 	 	 	 	 	 
	ARTICLE VIII EVENTS OF DEFAULT AND REMEDIES	 	 	79	 
	 
	 	Section 8.01	 	Events of Default	 	 	79	 
	 
	 	Section 8.02	 	Remedies Upon Event of Default	 	 	81	 
	 
	 	Section 8.03	 	Application of Funds	 	 	82	 
	 
	 	Section 8.04	 	Actions in Respect of the Letters
of Credit Upon Event of Default; L/C Cash Collateral Account	 	 	82	 
	 
	 	 	 	 	 	 	 	 
	ARTICLE IX ADMINISTRATIVE AGENT; DOCUMENTATION AGENT	 	 	85	 
	 
	 	Section 9.01	 	Appointment and Authority	 	 	85	 
	 
	 	Section 9.02	 	Rights as a Lender	 	 	86	 
	 
	 	Section 9.03	 	Exculpatory Provisions	 	 	86	 
	 
	 	Section 9.04	 	Reliance by Administrative Agent and/or Documentation Agent	 	 	87	 
	 
	 	Section 9.05	 	Delegation of Duties	 	 	88	 
	 
	 	Section 9.06	 	Resignation of Administrative Agent	 	 	88	 
	 
	 	Section 9.07	 	Non-Reliance on Administrative Agent or Documentation Agent and Other Lenders	 	 	89	 
	 
	 	Section 9.08	 	No Other Duties, Etc.	 	 	89	 
	 
	 	 	 	 	 	 	 	 
	ARTICLE X MISCELLANEOUS	 	 	90	 
	 
	 	Section 10.01	 	Amendments, Etc.	 	 	90	 
	 
	 	Section 10.02	 	Notices; Effectiveness; Electronic Communication	 	 	91	 
	 
	 	Section 10.03	 	No Waiver; Cumulative Remedies	 	 	92	 
	 
	 	Section 10.04	 	Expenses; Indemnity; Damage Waiver	 	 	93	 
	 
	 	Section 10.05	 	Payments Set Aside	 	 	95	 
	 
	 	Section 10.06	 	Successors and Assigns	 	 	95	 
	 
	 	Section 10.07	 	Treatment of Certain Information; Confidentiality	 	 	99	 
	 
	 	Section 10.08	 	Right of Setoff	 	 	100	 
	 
	 	Section 10.09	 	Interest Rate Limitation	 	 	100	 
	 
	 	Section 10.10	 	Counterparts; Integration; Effectiveness	 	 	100	 
	 
	 	Section 10.11	 	Survival of Representations and Warranties	 	 	101	 
	 
	 	Section 10.12	 	Severability	 	 	101	 
	 
	 	Section 10.13	 	Replacement of Lenders	 	 	101	 
	 
	 	Section 10.14	 	Governing Law; Jurisdiction; Etc.	 	 	102	 
	 
	 	Section 10.15	 	Waiver of Jury Trial	 	 	103	 
	 
	 	Section 10.16	 	USA PATRIOT Act Notice	 	 	103	 
	 
	 	Section 10.17	 	Amendment and Restatement	 	 	103	 

iii

 

	 	 	 	 	 
	 	 	 	 	 	 	Page	 
	 	 
	SCHEDULES
	 	 	 	 
	 
	 	 	 	 
	Schedule 2.01
	 	—	 	Revolving Credit Commitments and Applicable Revolving Credit Percentages
	Schedule 2.02
	 	—	 	Term Loan Commitments and Applicable Term Loan Percentages
	Schedule 2.04
	 	—	 	Existing Letters of Credit
	Schedule 2.10
	 	—	 	Applicable Margins
	Schedule 5.07
	 	—	 	Litigation
	Schedule 5.18
	 	—	 	Subsidiaries
	Schedule 7.01(a)
	 	—	 	Existing Debt
	Schedule 7.01(b)
	 	—	 	Existing Subsidiary Debt
	Schedule 7.02
	 	—	 	Existing Liens
	Schedule 7.07
	 	—	 	Restrictions on Dividends
	Schedule 10.02
	 	—	 	Notice Information

	 	 	 	 
	EXHIBITS
	 	 	 
	 
	 	 	 
	Exhibit A
	—	 	Form of Loan Notice
	Exhibit B
	—	 	Form of Conversion or Continuation Notice
	Exhibit C
	—	 	Form of Revolving Credit Commitment Increase Notice
	Exhibit D
	—	 	Form of Promissory Note (Revolving Loan)
	Exhibit E
	—	 	Form of Promissory Note (Term Loan)
	Exhibit F
	—	 	Form of Assignment and Assumption
	Exhibit G
	—	 	Form of Subsidiary Guaranty
	Exhibit H
	—	 	Form of Pledge Agreement
	Exhibit I
	—	 	Form of Compliance Certificate

iv

 

FIRST AMENDED AND RESTATED CREDIT AGREEMENT

          This FIRST AMENDED AND RESTATED CREDIT AGREEMENT (this “Agreement”) is entered into as of
September 8, 2008 among RTI INTERNATIONAL METALS, INC., an Ohio corporation (the “Borrower”), each
lender from time to time party hereto, PNC BANK, NATIONAL ASSOCIATION, as issuer of letters of
credit, PNC BANK NATIONAL ASSOCIATION, as Documentation Agent, CITIBANK, N.A., as Syndication
Agent, PNC CAPITAL MARKETS LLC and FIFTH THIRD BANK, as Co-Lead Arrangers, and NATIONAL CITY BANK,
as Swing Loan Bank and Administrative Agent.

          WHEREAS, the Borrower, various financial institutions and Citibank, N.A., as administrative
agent for such various financial institutions, entered into that certain Credit Agreement, dated as
of September 27, 2007 (as amended prior to the date hereof, the “Existing Credit Agreement”);

          WHEREAS, the Borrower has requested that the Lenders (as defined below) amend and restate the
Existing Credit Agreement in order to provide a credit facility to make loans to the Borrower and
that the Issuing Bank issue Letters of Credit on the Borrower’s behalf, and the Lenders and the
Issuing Bank are willing to do so on the terms and conditions set forth herein; and

          WHEREAS, the Administrative Agent, the Documentation Agent and the Lenders are willing to
amend and restate the Existing Credit Agreement in order to provide such credit upon the terms and
conditions hereinafter set forth.

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

ARTICLE I

DEFINITIONS AND ACCOUNTING TERMS

          Section 1.01 Defined Terms.

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

          “Act” has the meaning assigned to such term in Section 10.16.

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

 

 

          “Administrative Agent Fee Letter” means that certain fee letter, dated September 3, 2008, by
and between the Borrower and the Administrative Agent, as amended, modified or supplemented from
time to time.

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

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

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

          “Aggregate Commitments” means the Commitments, as applicable, of all the Lenders.

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

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

          “Agreement” means this First Amended and Restated Credit Agreement.

          “Applicable Margin” means, from time to time, the percentages per annum determined by
reference to the Leverage Ratio in respect of the facility fee pursuant to Section 2.12(a), the
Revolving Loans which are Eurodollar Rate Loans and the Term Loans, as set forth on Schedule
2.10.

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

2

 

          “Applicable Term Loan Percentage” means with respect to any Lender at any time, the percentage
(carried out to the ninth decimal place) of the Aggregate Term Loan Commitments represented by such
Lender’s Term Loan Commitment at such time. The initial Applicable Term Loan Percentage of each
Lender is set forth opposite the name of such Lender on Schedule 2.02 or in the Assignment
and Assumption pursuant to which such Lender becomes a party hereto, as applicable.

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

          “Asbestos” includes chrysotile, amosite, crocidolite, tremolite asbestos, anthophyllite
asbestos, actinolite asbestos, asbestos winchite, asbestos richterite, and any of these minerals
that have been chemically treated and/or altered and any asbestiform variety, type or component
thereof and any asbestos-containing material.

          “Asbestos-Containing Material” means any material containing Asbestos, including, without
limitation, any Asbestos-containing products, automotive or industrial parts or components,
equipment, improvements to real property and any other material that contains Asbestos.

          “Assignment and Assumption” means an Assignment and Assumption entered into by a Lender and an
Eligible Assignee (with the consent of any party whose consent is required hereunder), and accepted
by the Administrative Agent, in substantially the form of Exhibit F or any other form
approved by the Administrative Agent.

          “Assuming Revolving Credit Lender” has the meaning specified in Section 2.17(d).

          “Audited Financial Statements” means the audited consolidated balance sheet of the Borrower
and its Subsidiaries for the fiscal year ended December 31, 2007 and the related consolidated
statements of income or operations, shareholders’ equity and cash flows for such fiscal year of the
Borrower and its Subsidiaries, including the notes thereto.

          “Authorized Officer” the chief executive officer, president, chief financial officer, senior
vice president of strategic planning and finance, assistant treasurer or treasurer of a Loan Party,
acting singly or any officer designated by any such Loan Party. Any document delivered hereunder
that is signed by an Authorized Officer of a Loan Party shall be conclusively presumed to have been
authorized by all necessary corporate, partnership and/or other action on the part of such Loan
Party and such Authorized Officer shall be conclusively presumed to have acted on behalf of such
Loan Party.

3

 

          “Availability Period” means the period from and including the Closing Date to the Revolving
Credit Maturity Date.

          “Available Amount” of any Letter of Credit means, at any time, the maximum amount available to
be drawn under such Letter of Credit at such time (assuming the compliance at such time with all
conditions to drawing).

          “Bankruptcy and Equity Exception” has the meaning specified in Section 5.02.

          “Base Rate” means for any day a fluctuating rate per annum equal to the higher of (a) the
Federal Funds Rate plus 1/2 of 1% and (b) the rate of interest in effect for such day as publicly
announced by the Administrative Agent from time to time as the Administrative Agent’s “prime rate.”
Any change in such rate announced by the Administrative Agent shall take effect at the opening of
business on the day specified in the public announcement of such change.

          “Base Rate Loan” means a Loan that bears interest based on the Base Rate.

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

          “Borrower Materials” has the meaning assigned to such term in Section 6.01.

          “Borrowing” means a Revolving Loan Borrowing, a Swing Loan Borrowing or a Term Loan Borrowing.

          “Business Day” means any day other than a Saturday, Sunday or other day on which commercial
banks are authorized to close under the laws of, or are in fact closed in, the state where the
Administrative Agent’s Office is located and, if such day relates to any Eurodollar Rate Loan,
means any such day on which dealings in Dollar deposits are conducted by and between banks in the
London interbank eurodollar 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.

          “Cash Equivalents” means any of the following types of investments, to the extent owned by the
Borrower or its Domestic Subsidiaries free and clear of all Liens, (i) securities issued or
directly and fully guaranteed or insured by the United States Government or any agency
instrumentality thereof having maturities of not more than six months from the date of acquisition,
(ii) time deposits, certificates of deposit and eurodollar time deposits with

4

 

maturities of not more than six months from the date of acquisition, bankers’ acceptances with
maturities not exceeding six months from the date of acquisition and overnight bank deposits, in
each case with any Lender or with any domestic commercial bank having capital and surplus in excess
of Five Hundred Million and 00/100 Dollars ($500,000,000.00), (iii) repurchase obligations with a
term of not more than thirty (30) days for underlying securities of any of the types described in
clauses (i) or (ii) and entered into with any bank meeting the qualifications specified in clause
(ii) above, (iv) commercial paper maturing in one hundred eighty (180) days or less rated not lower
than “A-1” by S&P or “P-1” by Moody’s on the date of acquisition, (v) variable rate demand notes
whether recorded as cash equivalents or short-term investments under GAAP and rated not lower than
A-1 by S&P or P-1 by Moody’s on the date of acquisition and credit enhanced either by a letter of
credit from a bank meeting the qualifications specified in clause (ii) above or by bond insurance
and (vi) shares of any money market fund that (i) has at least eighty percent (80%) of its assets
invested continuously in the types of investments referred to in clauses (i), (ii), (iii) and (iv)
above, (ii) has net assets of not less than Five Hundred Million and 00/100 Dollars
($500,000,000.00.) and (iii) is rated at least “AAA” by S&P and, if rated by Moody’s, “Aaa” by
Moody’s.

          “Change in Law” means the occurrence, after the date of this Agreement, of any of the
following: (a) the adoption or taking effect of any law, rule, regulation or treaty, (b) any change
in any law, rule, regulation or treaty or in the administration, interpretation or application
thereof by any Governmental Entity or (c) compliance by any Lender (or, for the purpose of Section
3.04(b), any Lending Office of such Lender or by such Lender’s holding company, if any) with any
request, guideline or directive (whether or not having the force of law) of any Governmental
Entity.

          “Change of Control” means (a) the acquisition of ownership, directly or indirectly,
beneficially or of record, by any Person or group (within the meaning of the Securities Exchange
Act of 1934 and the rules of the Securities and Exchange Commission thereunder as in effect on the
date hereof), of equity interests representing more than fifty percent (50%) of the aggregate
ordinary voting power represented by the issued and outstanding equity interests in the Borrower or
(b) the occupation of a majority of the seats (other than vacant seats) on the board of directors
of the Borrower by Persons who were not (i) directors of the Borrower on the date of this
Agreement, (ii) nominated by the board of directors of the Borrower, or (iii) appointed by
directors referred to in the preceding clauses (i) and (ii).

          “Closing Date” means the first date that all the conditions precedent in Section 4.01 are
satisfied or waived in accordance with Section 10.01.

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

5

 

          “Co-Lead Arranger Fee Letter” means that certain fee letter, dated August 28, 2008, by and
between the Borrower and Fifth Third Bank, as amended, modified or supplemented from time to time.

          “Commitment” means a Term Loan Commitment, a Revolving Credit Commitment, a Swing Loan
Commitment or a Letter of Credit Commitment.

          “Company Foreign Benefit Plan” has the meaning assigned to such term in Section 5.08(g).

          “Compensation and Benefit Plan” means, with respect to any Person, any bonus, deferred
compensation, pension, retirement, profit-sharing, thrift, savings, employee stock ownership, stock
bonus, stock purchase, change in control, retention, restricted stock, stock option, employment,
termination, severance, compensation, medical, health or other compensation or benefit plan,
including, without limitation, each “employee benefit plan” within the meaning of Section 3(3) of
ERISA, that covers employees or former employees, or directors or former directors of such Person
or any of its Subsidiaries, or to which contributions are made or otherwise required to be made, by
such Person or any of its Subsidiaries, together with any trust agreement or insurance contract
forming a part of such Compensation and Benefit Plan.

          “Consolidated Debt” means, at any time, all Debt that would be required to appear as
liabilities on the consolidated balance sheet of the Borrower and its Subsidiaries prepared in
accordance with GAAP plus all guarantee obligations (or obligations having the economic effect of
guarantee obligations) of the Borrower or any Subsidiary in respect of Debt of Persons other than
the Borrower or any Subsidiary.

          “Consolidated EBITDA” means, for any period, the sum (without duplication) of (a) Consolidated
Net Income for such period, plus, without duplication and to the extent deducted in determining
such Consolidated Net Income, the sum of (i) Consolidated Interest Expense for such period, (ii)
income tax expense for such period, and (iii) depreciation and amortization expense for such
period, all determined on a consolidated basis for each such item in accordance with GAAP; (iv) all
other non-cash charges (including impairment charges with respect to good will) and expenses
(including stock based compensation) of the Borrower and its Subsidiaries determined on a
consolidated basis in accordance with GAAP, (v) charges, expenses and fees incurred in connection
with this Agreement and the Loans, (vi) non-recurring charges, fees and expenses incurred in
connection with corporate restructurings and acquisitions, in an aggregate amount not to exceed Ten
Million and 00/100 Dollars ($10,000,000.00) in any calendar year and not to exceed Twenty-Five
Million and 00/100 Dollars ($25,000,000.00) during the term of this Agreement, and minus, to the
extent included in determining such consolidated net income, any non-cash income or non-cash gains,
all as determined on a consolidated basis in accordance with GAAP. EBITDA will be calculated on a
pro forma basis to give effect to acquisitions and sales (other than in the ordinary course of
business) by the

6

 

Borrower and its consolidated subsidiaries consummated on or after the first (1st)
day of a measurement period and prior to the date of determination as if effective on the first
(1st) day of such period.

          “Consolidated Interest Expense” means, for any period, the total interest expense of the
Borrower and its Subsidiaries determined on a consolidated basis in accordance with GAAP with
respect to all outstanding Debt of the Borrower and its Subsidiaries.

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

          “Consolidated Net Tangible Assets” means, at any time, the total assets less all Intangible
Assets appearing on the consolidated balance sheet of the Borrower as of the end of the most
recently concluded fiscal quarter of the Borrower.

          “Contingent Obligation” of a Person means any obligation arising under any agreement,
undertaking or arrangement by which such Person (a) assumes, guarantees, endorses, contingently
agrees to purchase or provide funds for the payment of, or otherwise becomes or is contingently
liable for, the Debt or other financial obligation or similar liability of any other Person,
excluding guarantees of the obligations of any Subsidiary which do not constitute Debt of such
Subsidiary, or (b) agrees to maintain the net worth or working capital or other financial condition
of any other Person, or (c) otherwise assures any creditor of such other Person against loss, but
excluding endorsements of instruments for deposit or collection in the ordinary course of business.

          “Contracts” has the meaning specified in Section 5.03(b).

          “Control” means the possession, directly or indirectly, of the power to direct or cause the
direction of the management or policies of a Person, whether through the ability to exercise voting
power, by contract or otherwise. “Controlling” and “Controlled” have meanings correlative thereto.

          “Controlled Group” means all members of a controlled group of corporations and all trades or
businesses (whether or not incorporated) under common control which, together with any of the Loan
Parties and/or one or more of the Subsidiaries, are treated as a single employer (i) under Section
414(b) or (c) of the Code or (ii) for the purposes of Section 302 of ERISA or Section 412 of the
Code, under Section 414(b), (c), (m) or (o) of the Code.

          “Conversion or Continuation Notice” means a notice of conversion or continuation delivered
pursuant to Section 2.06, which, if in writing, shall be substantially in the form of Exhibit
B.

7

 

          “Debt” of a Person means such Person’s (a) obligations for borrowed money, (b) obligations
representing the deferred purchase price of property or services (other than accounts payable and
accrued expenses arising in the ordinary course of such Person’s business payable on terms
customary in the trade and not evidenced by a note), (c) obligations, whether or not assumed,
secured by Liens or payable out of the proceeds or production from property now or hereafter owned
or acquired by such Person, (d) obligations which are evidenced by notes, bonds, or similar
instruments, (e) Capitalized Lease Obligations, (f) Contingent Obligations and (g) obligations for
which such Person is obligated pursuant to or in respect of a letter of credit and, for the purpose
of Section 7.01 only, Hedging Agreements.

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

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

          “Defaulting Lender” means any Lender that (a) has failed to fund any portion of the Loans
required to be funded by it hereunder within one (1) Business Day of the date required to be funded
by it hereunder, (b) has otherwise failed to pay over to the Administrative Agent or any other
Lender any other amount required to be paid by it hereunder within one (1) Business Day of the date
when due, unless the subject of a good faith dispute, or (c) has been deemed insolvent or become
the subject of a bankruptcy or insolvency proceeding.

          “Default Rate” means an interest rate equal to (a) the Base Rate plus (b) the
Applicable Margin, if any, applicable to Base Rate Loans plus (c) two percent (2%) per annum;
provided, however, that with respect to a Eurodollar Rate Loan, the Default Rate
shall be an interest rate equal to the interest rate (including any Applicable Margin) otherwise
applicable to such Loan plus two percent (2%) per annum.

          “Documentation Agent” means PNC Bank, National Association, in its capacity as documentation
agent under any of the Loan Documents, or any successor documentation agent.

          “Documentation Agent Fee Letter” means that certain engagement letter, dated July 28, 2008, by
and between the Borrower and the Documentation Agent, as amended, modified or supplemented from
time to time.

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

8

 

          “Domestic Subsidiary” means any Subsidiary of the Borrower organized under the laws of (i) any
State of the United States or the District of Columbia or (ii) any commonwealth, territory or
possession of the United States.

          “Eligible Assignee” means (a) a Lender; (b) an Affiliate of a Lender; (c) an Approved Fund;
and (d) any other Person (other than a natural person) approved by the Administrative Agent and, so
long as no Event of Default has occurred and is continuing, the Borrower (such approval of the
Administrative Agent and the Borrower, as applicable, not to be unreasonably withheld or delayed);
provided that notwithstanding the foregoing, “Eligible Assignee” shall not include the Borrower or
any of the Borrower’s Affiliates or Subsidiaries.

          “Environmental Law” means any applicable Law (including common law) relating to: (a)
pollution; (b) the protection of the environment (including air, water, soil, subsurface strata and
natural resources) or public health and safety; and (c) the regulation of the generation, use,
storage, handling, transportation, treatment, release, remediation or disposal of Hazardous
Substances.

          “Environmental Liability” means any liability, contingent or otherwise (including any
liability for damages, costs of environmental remediation, fines, penalties or indemnities), of the
Borrower, any other Loan Party or any of their respective Subsidiaries directly or indirectly
resulting from or based upon (a) violation of any Environmental Law, (b) the generation, use,
handling, transportation, storage, treatment or disposal of any Hazardous Substances, (c) exposure
to any Hazardous Substances, (d) the release or threatened release of any Hazardous Substances into
the environment or (e) any contract, agreement or other consensual arrangement pursuant to which
liability is assumed or imposed with respect to any of the foregoing.

          “ERISA” means the Employee Retirement Income Security Act of 1974, as amended from time to
time.

          “ERISA Affiliate” means any Person, trade or business that together with any Loan Party is or
was treated as a single-employer within the meaning of Section 414(b), (c), (m) or (o) of the Code
or Section 4001(b) of ERISA.

          “ERISA Event” means (a) a Reportable Event with respect to any Pension Plan, (b) the
occurrence of an accumulated funding deficiency (whether or not waived) within the meaning of
Section 412 of the Code or Section 302 of ERISA with respect to any Pension Plan or the filing of
an application to waive the funding requirements with respect to any Pension Plan, (c) the
withdrawal of a Loan Party or any ERISA Affiliate from a Plan during a plan year in which such Loan
Party or ERISA Affiliate was a “substantial employer” as defined in Section 4001(a)(2) of ERISA
with respect to any Plan, (d) the termination of a Pension Plan, the filing of a notice of intent
to terminate such Pension Plan or the treatment of an amendment of such Pension Plan as a
termination under Section 4041 of ERISA, (e) the institution by the PBGC of

9

 

proceedings to terminate a Pension Plan or to appoint a trustee to administer a Pension Plan,
(f) any event or condition which could reasonable be expected to constitute grounds under Section
4042 of ERISA for the termination of, or appointment of a trustee to administer, such Plan, (g) the
imposition upon any Loan Party or ERISA Affiliate of any withdrawal liability, or (h) the
reorganization or insolvency of any Multiemployer Plan.

          “Eurodollar Rate” means for any Interest Period with respect to a Eurodollar Rate Loan, an
interest rate per annum equal to the rate per annum obtained by dividing (a) the rate per annum
(rounded upward to the nearest whole multiple of 1/100 of 1% per annum) appearing on Reuters
LIBOR01 Screen (or any successor page) as the London interbank offered rate for deposits in U.S.
dollars at approximately 11:00 A.M. (London time) two (2) Business Days prior to the first
(1st) day of such Interest Period for a term comparable to such Interest Period or, if
for any reason such rate is not available, the average (rounded upward to the nearest whole
multiple of 1/100 of 1% per annum, if such average is not such a multiple) of the rate per annum at
which deposits in U.S. dollars are offered by the principal office of National City Bank in London,
England to prime banks in the London interbank market at 11:00 A.M. (London time) two (2) Business
Days before the first (1st) day of such Interest Period in an amount substantially equal
to National City Bank’s Eurodollar Rate Loan comprising part of such Borrowing to be outstanding
during such Interest Period and for a period equal to such Interest Period by (b) a percentage
equal to one hundred percent (100%) minus the Eurodollar Rate Reserve Percentage for such Interest
Period. If the Reuters LIBOR01 Screen (or any successor page) is unavailable, the Eurodollar Rate
for any Interest Period for each Eurodollar Rate Loan comprising part of the same Borrowing shall
be determined by National City Bank.

          “Eurodollar Rate Loan” means a Loan that bears interest at a rate based on the Eurodollar
Rate.

          “Eurodollar Rate Reserve Percentage” for any Interest Period for all Eurodollar Rate Loans
comprising part of the same Borrowing means the reserve percentage applicable two (2) Business Days
before the first (1st) day of such Interest Period under regulations issued from time to
time by the Board of Governors of the Federal Reserve System (or any successor) for determining the
maximum reserve requirement (including, without limitation, any emergency, supplemental or other
marginal reserve requirement) for a member bank of the Federal Reserve System in New York City with
respect to liabilities or assets consisting of or including eurocurrency liabilities (or with
respect to any other category of liabilities that includes deposits by reference to which the
interest rate on Eurodollar Rate Loans is determined) having a term equal to such Interest Period.

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

          “Exchange Act” means the Securities Exchange Act of 1934, as amended.

10

 

          “Excluded Taxes” means, with respect to the Administrative Agent, any Lender or any other
recipient of any payment to be made by or on account of any obligation of the Borrower hereunder,
(a) taxes imposed on or measured by its overall net income (however denominated), and franchise
taxes imposed on it (in lieu of net income taxes), by the jurisdiction (or any political
subdivision thereof) under the laws of which such recipient is organized or in which its principal
office is located or, in the case of any Lender, in which its applicable Lending Office is located,
(b) any branch profits taxes imposed by the United States or any similar tax imposed by any other
jurisdiction in which the Borrower is located and (c) in the case of a Foreign Lender (other than
an assignee pursuant to a request by the Borrower under Section 10.13), any withholding tax imposed
by the jurisdiction in which the Borrower is resident that is imposed on amounts payable to such
Foreign Lender at the time such Foreign Lender becomes a party hereto (or designates a new Lending
Office) or the date on which a Participant becomes entitled to the benefits of Section 3.01
pursuant to Section 10.06(d) or is attributable to such Foreign Lender’s failure or inability
(other than as a result of a Change in Law) to comply with Section 3.01(e), except to the extent
that such Foreign Lender (or its assignor, if any) was entitled, at the time of designation of a
new Lending Office (or assignment), to receive additional amounts from the Borrower with respect to
such withholding tax pursuant to Section 3.01(a).

          “Existing Credit Agreement” has the meaning set forth in the preamble to this Agreement.

          “Existing Letters of Credit” means each “Letter of Credit” issued pursuant to the terms of,
and as defined in, the Existing Credit Agreement and outstanding on the Closing Date and set forth
on Schedule 2.04 hereto.

          “Extended Revolving Credit Maturity Date” has the meaning specified in Section 2.18(a).

          “Extending Revolving Credit Lender” has the meaning specified in Section 2.18(a)(i).

          “Federal Funds Rate” means, for any day, a fluctuating 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 by the Federal Reserve
Bank of New York on the Business Day next succeeding such day; provided that (a) if such day is not
a Business Day, the Federal Funds Rate for such day shall be such rate on such transactions on the
next preceding Business Day as so published on the next succeeding Business Day, and (b) if no such
rate is so published on such next succeeding Business Day, the Federal Funds Rate for such day
shall be the average quotations (rounded upward, if necessary, to a whole multiple of 1/100 of 1%)
for such day for such transactions received by the

11

 

Administrative Agent from three (3) Federal
funds brokers of recognized standing selected by the Administrative Agent.

          “Financial Officer” of a Person means the chief financial officer, principal accounting
officer, treasurer or controller of such Person or any officer having substantially the same
position for such Person.

          “Foreign Lender” means any Lender that is organized under the laws of a jurisdiction other
than that in which the Borrower is resident for tax purposes. For purposes of this definition, the
United States, each State thereof and the District of Columbia shall be deemed to constitute a
single jurisdiction.

          “Foreign Subsidiary” means each Subsidiary which is not a Domestic Subsidiary.

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

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

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

          “Governmental Entity” has the meaning specified in Section 5.03(a).

          “Guarantors” means the Material Subsidiaries that are Domestic Subsidiaries as of the date
hereof and each other Subsidiary that has executed the Subsidiary Guaranty pursuant to Section
6.09.

          “Guaranty Supplement” means a Guaranty Supplement in the form attached as Exhibit B to the
Subsidiary Guaranty.

          “Hazardous Substance” means any chemical, material or substance that is defined as harmful to
human health, the environment, or natural resources by any Environmental Law, including without
limitation, petroleum, petroleum products, Asbestos, and Asbestos-Containing Materials.

12

 

          “Hedging Agreement” means any interest rate protection agreement, foreign currency exchange
agreement, commodity price protection agreement or other interest or currency exchange rate or
commodity price hedging arrangement or puts and calls on any of the foregoing and with respect to
equity securities.

          “Increasing and Extending Revolving Credit Lender” has the meaning specified in Section
2.18(a)(ii).

          “Increasing Revolving Credit Lender” has the meaning specified in Section 2.17(b).

          “Indemnified Taxes” means Taxes other than Excluded Taxes.

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

          “Information” has the meaning assigned to such term in Section 10.07.

          “Intangible Assets” means, at any date, the amount (if any) stated under the heading “Goodwill
and Other Intangible assets, net” or under any other heading relating to intangible assets
separately listed, in each case, on the face of a balance sheet of the Borrower prepared on a
consolidated basis as of such date.

          “Intellectual Property Rights” shall mean all patents, patent applications, trademarks, trade
names, service marks, brand names, copyrights, technology, know-how, computer software programs or
applications, databases and tangible or intangible proprietary information or materials that are
currently used in the Borrower’s and its Subsidiaries’ businesses and as to which Borrower and its
Subsidiaries have rights.

          “Interest Payment Date” means, (a) as to any Eurodollar Rate Loan, the last day of each
Interest Period applicable to such Loan and the Revolving Credit Maturity Date or the Term Loan
Maturity Date, as applicable, and, if such Interest Period has a duration of more than three (3)
months, on each day that occurs during such Interest Period every three (3) months from the first
(1st) day of such Interest Period and on the date such Eurodollar Rate advance shall be
converted or paid in full; and (b) as to any Base Rate Loan, the last Business Day of each calendar
quarter commencing September 30, 2008 and the Revolving Credit Maturity Date or the Term Loan
Maturity Date, as applicable.

          “Interest Period” means, as to each Eurodollar Rate Loan, the period commencing on the date
such Eurodollar Rate Loan is disbursed or converted to or continued as a Eurodollar Rate Loan and
ending on the last day of the Interest Period determined in accordance with Section 2.11; provided
that:

          (i) the Interest Period for any Eurodollar Rate Loan shall be for a period of

13

 

one (1), two (2), three (3) or six (6) months;

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

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

          (iv) no Interest Period shall extend beyond the Revolving Credit Maturity Date or the Term
Loan Maturity Date, as applicable.

          “Investment Quebec Facility” means the loan facility up to the aggregate principal amount of
Five Million One Hundred Seventy-Five Thousand and 00/100 Canadian Dollars (CDN $5,175,000.00)
between Investissement Quebec and RTI-Claro, Inc. dated as of July 24, 2006.

          “IRS” means the United States Internal Revenue Service.

          “Issuing Bank” means PNC Bank, National Association, as the issuer of Letters of Credit, or
such other Lender as shall, with the consent of the Issuing Bank, the Borrower and the
Administrative Agent, have assumed the obligations of the Issuing Bank with respect to all or any
of the Letters of Credit hereunder.

          “L/C Cash Collateral Account” has the meaning specified in Section 8.04(b).

          “L/C Cash Collateral Account Collateral” has the meaning specified in Section 8.04(b).

          “L/C Cash Collateral Account Investments” has the meaning specified in Section 8.04(c).

          “L/C Cash Collateral Account Obligations” has the meaning specified in Section 8.04(e)(i).

          “L/C Related Documents” has the meaning specified in Section 2.19(e)(i).

          “Law” means any law (including common law), constitution, statute, treaty, regulation, rule,
ordinance, opinion, release, ruling, order, injunction, writ, decree, bond,

14

 

judgment, authorization
or approval, lien or award of or settlement agreement with any Governmental Entity.

          “Lenders” means the Banks listed on the signature pages hereof and each assignee that shall
become a party hereto pursuant to Section 10.06 and shall include the Swing Loan Bank and the
Issuing Bank.

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

          “Letter of Credit” has the meaning specified in Section 2.04(a).

          “Letter of Credit Agreement” has the meaning specified in Section 2.19(a)(i).

          “Letter of Credit Commitment” means, with respect to the Issuing Bank, the obligation of the
Issuing Bank to issue Letters of Credit for the account of the Borrower in an amount not to exceed
at any one time the Letter of Credit Facility, as such amount may be reduced from time to time by
the Available Amount of any outstanding Letter of Credit issued by any other Issuing Bank.

          “Letter of Credit Facility” means an aggregate amount not to exceed Forty Million and 00/100
Dollars ($40,000,000.00) at any time outstanding.

          “Letter of Credit Loan” means a payment by the Issuing Bank of a draft drawn under any Letter
of Credit pursuant to Section 2.19(b) or, without duplication, a payment by a Lender in respect
thereof pursuant to Section 2.19(b).

          “Letter of Credit Outstandings” means, at any time, the aggregate Available Amount of all
Letters of Credit plus the aggregate outstanding principal amount of all Letter of Credit Loans.

          “Leverage Ratio” has the meaning specified in Section 7.04(a).

          “Lien” means any security interest, 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, without
limitation, the interest of a vendor or lessor under any conditional sale, Capitalized Lease or
other title retention agreement).

          “Litigation Claims” has the meaning specified in Section 5.07.

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          “Loan Documents” means this Agreement, each Note, each Subsidiary Guaranty, each Pledge
Agreement, the Administrative Agent Fee Letter and the Documentation Agent Fee Letter.

          “Loan Notice” means an Activity Report, pursuant to Section 2.05, which, shall be
substantially in the form of Exhibit A.

          “Loan Parties” means, collectively, the Borrower and the Guarantors.

          “Loans” means all Term Loans, all Revolving Loans, all Swing Loans and all Letter of Credit
Loans.

          “Margin Stock” has the meaning assigned to such term under Regulation U of the FRB.

          “Material Adverse Change” means a material adverse change in the business, financial condition
or operations of the Borrower and its Subsidiaries taken as a whole.

          “Material Adverse Effect” means a material adverse effect on the (a) business, financial
condition or operations of the Borrower and its Subsidiaries taken as a whole, (b) ability of each
Loan Party to perform any of its obligations under any Loan Document to which it is a party or (c)
rights or remedies available to the Lenders under any Loan Document.

          “Material Subsidiary” means, RMI Titanium Company, Tradco, Inc., RTI Energy Systems, Inc.,
Extrusion Technology Corporation of America, New Century Metals Southeast, Inc., RTI Finance Corp.,
RTI-Claro, Inc., RTI International Metals Limited and each other Subsidiary of the Borrower which
at any time has five percent (5%) or more of the consolidated assets of the Borrower and its
Subsidiaries.

          “Moody’s” means Moody’s Investors Service, Inc. and any successor thereto.

          “Multiemployer Plan” means a Plan that is a multiemployer plan within the meaning of Section
4001(a)(3) of ERISA to which any Loan Party or any ERISA Affiliate is or was obligated to make
contributions.

          “National City Bank” means National City Bank and its successors.

          “Net Debt” means as of any time, Consolidated Debt minus cash and Cash Equivalents of the
Borrower and its Domestic Subsidiaries in excess of Fifty Million and 00/100 Dollars
($50,000,000.00).

          “Non-Bank Certificate” has the meaning specified in Section 3.01(e)(iii).

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          “Non-Extending Revolving Credit Lender” has the meaning specified in Section 2.18(a).

          “Note” or “Notes” means, singularly or collectively, as the context may require, all the
Revolving Credit Notes and Term Notes.

          “Notice of Issuance” has the meaning specified in Section 2.19(a)(i).

          “Notice of Revolving Loan Borrowing” has the meaning specified in Section 2.05(b).

          “Notice of Swing Loan Borrowing” has the meaning specified in Section 2.05(c).

          “Obligations” means all advances to, and debts, liabilities, obligations, covenants and duties
of, any Loan Party arising under any Loan Document or otherwise with respect to any Loan, whether
direct or indirect (including those acquired by assumption), absolute or contingent, due or to
become due, now existing or hereafter arising and including interest and fees that accrue after the
commencement by or against any Loan Party or any Affiliate thereof of any proceeding under any
Debtor Relief laws naming such Person as the debtor in such proceeding, regardless of whether such
interest and fees are allowed claims in such proceeding.

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

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

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

          “PBGC” means the Pension Benefit Guaranty Corporation.

          “Pension Plan” means any Plan that is subject to Section 412 of the Code or Title IV of ERISA,
other than a Multiemployer Plan.

17

 

          “Permitted Liens” shall mean:

          (a) Liens for taxes, assessments, governmental levies or similar charges incurred in the
ordinary course of business and which are not yet due and payable, or if due and payable, (i) are
being contested in good faith and by appropriate and lawful proceedings diligently conducted, but
only so long as such proceedings could not subject the Administrative
Agent, the Swing Loan Bank, the Lenders or the Issuing Bank to any civil or criminal penalties
or liabilities, (ii) for which such reserves or other appropriate provisions, if any, as shall be
required by GAAP shall have been made and (iii) which shall be paid in accordance with the terms of
any final judgments or orders relating thereto within thirty (30) days after the entry of such
judgments or orders;

          (b) Pledges or deposits made in the ordinary course of business to secure payment of workmen’s
compensation, or to participate in any fund in connection with workmen’s compensation, unemployment
insurance, old-age pensions, other social security programs or similar program or to secure
liability to insurance carriers under insurance or self insurance agreements or arrangement;

          (c) Liens of mechanics, materialmen, warehousemen, carrier or other like Liens, securing
obligations incurred in the ordinary course of business that are not yet due and payable and Liens
of landlords securing obligations to pay lease payments that are not yet due and payable or in
default, or if such Liens are due and payable, (i) are being contested in good faith and by
appropriate and lawful proceedings diligently conducted, (ii) for which such reserves or other
appropriate provisions, if any, as required by GAAP shall have been made and (iii) which shall be
paid in accordance with the terms of any final judgments or orders relating thereto within thirty
(30) days after the entry of such judgments or orders;

          (d) Pledges, bonds or deposits made in the ordinary course of business to secure performance
of bids, tenders, contracts (other than for the repayment of borrowed money) or leases, not in
excess of the aggregate amounts due thereunder, or to secure statutory obligations, or surety,
appeal, indemnity, performance or other similar bonds required in the ordinary course business;

          (e) (i) Encumbrances consisting of zoning restrictions, easements, rights-of-way, or other
restrictions on the use of real property, (ii) defects in title to real property, and (iii) Liens,
encumbrances and title defects affecting real property not known by the Borrower or a Subsidiary,
as applicable, and not discoverable by a search of the public records, none of which materially
impairs the use of such property;

          (f) (i) Liens on assets of a Person which is merged into or acquired by the Borrower or a
Subsidiary of the Borrower on or after the date this Agreement, and (ii) Liens on assets acquired
after the date of this Agreement, provided that (A) such Liens existed at the time

18

 

of such merger
or acquisition and were not created in anticipation thereof, (B) no such Lien is spread to cover
any property or assets of the Borrower or any Subsidiary of the Borrower; and (C) the principal
amount of Indebtedness secured thereby is not increased from the amount outstanding immediately
prior to such merger or acquisition;

          (g) Liens created by or resulting from any litigation or legal proceedings which are currently
being contested in good faith by appropriate and lawful proceedings diligently conducted and for
which such reserves or other appropriate provisions, if any, as shall be required by GAAP shall
have been made and Liens arising out of judgments or orders for the payment of money which do not
constitute an Event of Default hereunder;

          (h) Liens placed upon fixed assets described on Schedule 7.02 or fixed assets or
equipment hereafter acquired, in each case to secure all or a portion of the purchase price
thereof, provided that any such Lien shall not encumber any other property of the Borrower or any
Subsidiary;

          (i) Other Liens incidental to the conduct of the Borrower’s or any Subsidiary’s business or
the ownership of its property and assets which were not incurred in connection with the borrowing
of money or the obtaining of advances or credit, and which do not in the aggregate materially
detract from the value of the Borrower’s or any Subsidiary’s property or assets or which do not
materially impair the use thereof in the operation of the Borrower’s business;

          (j) Leases or subleases not otherwise prohibited by this Agreement or the other Loan
Documents;

          (k) The titanium sponge manufacturing facility lease agreement which the Borrower or one of
its Subsidiaries will enter into in connection with the financing of such facility and Liens on
such facility in favor of state development authorities with respect to tax incentives in
connection with such facility; and

          (l) Other Liens securing Debt not exceeding ten percent (10%) of the Consolidated Net Tangible
Assets and not encumbering the Pledged Equity.

          (m) Liens created hereunder or under any other Loan Document in favor of the Administrative
Agent for its benefit and the benefit of the Swing Loan Bank, any Issuing Bank or any Lender;

          “Person” shall mean any individual, corporation (including not-for-profit corporations),
general or limited partnership, limited liability company, joint venture, estate, trust,
association, organization, Governmental Entity or other entity of any kind or nature.

19

 

          “Plan” means an employee pension benefit plan, as defined in Section 3(2) of ERISA, as to
which any Loan Party or ERISA Affiliate may have any liability.

          “Platform” has the meaning assigned to such term in Section 6.01(f).

          “Pledge Agreement” means the First Amended and Restated Negative Pledge and Pledge Agreement,
dated as of the Closing Date, by the Borrower in favor of the Administrative
Agent, the First Amended and Restated Equity Pledge Agreement, dated as of the Closing Date by
the Borrower in favor of the Administrative Agent, the Charge Over Securities, dated September 27,
2007, between the Borrower and Citibank, N.A. (in its capacity as security agent) as amended and
supplemented by a Supplemental Deed, dated as of the Closing Date, between the Borrower, Citibank,
N.A. (the existing security agent) and the Administrative Agent (the new security agent) and any
other pledge agreement executed from time to time by a Pledgor in favor of the Administrative Agent
in substantially the forms attached hereto as Exhibit H with such changes as advisable
based on the laws of the jurisdiction of organization of the Foreign Subsidiary the ownership
interests of which are encumbered by such pledge agreement, each as amended, modified or
supplemented from time to time.

          “Pledged Equity” means sixty-five percent (65%) of the shares of capital stock of RTI-Claro,
Inc., and RTI Europe Limited and sixty-five percent (65%) of the capital stock, beneficial,
partnership or membership interests of any Foreign Subsidiary which may from time to time be
pledged by a Pledgor pursuant to Section 6.09.

          “Pledgor” means (i) the Borrower and (ii) each Domestic Subsidiary which owns, directly or
indirectly, any Foreign Subsidiary which is a Material Subsidiary.

          “Proposed Additional Revolving Credit Commitment” has the meaning specified in Section
2.18(a)(ii).

          “Purchase” means any transaction, or any series of related transactions, consummated on or
after the date of this Agreement, by which any Loan Party or any Subsidiary (a) acquires any going
business or all or substantially all of the assets of any Person or division or line of business
thereof, whether through purchase of assets, merger or otherwise, or (b) directly or indirectly
acquires (in one transaction or as of the most recent transaction in a series of transactions) at
least a majority (in number of votes) of the securities of a corporation which have ordinary voting
power for the election of directors (other than securities having such power only by reason of the
happening of a contingency) or a majority (by percentage or voting power) of the outstanding
partnership interests of a partnership.

          “Ratable Share” means the proportion that a Lender’s Commitment (excluding the Swing Loan
Commitment) bears to the Commitments (excluding the Swing Loan Commitments) of all of the Lenders.
If the Commitments have terminated or expired, the

20

 

Ratable Share shall be determined based upon the
Commitments most recently in effect, giving effect to any assignments.

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

          “Related Parties” means, with respect to any Person, such Person’s Affiliates and the
partners, directors, officers, employees, agents and advisors of such Person and of 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 Pension 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 thirty (30) days of the occurrence of such event pursuant to subsection
        .22, .23, .27, .28 or .31 of DOL Regulations Section 4043.

          “Required Lenders” means, as of any date of determination, Lenders having more than fifty
percent (50%) of the Aggregate Commitments or, if the commitment of each Lender to make Loans has
been terminated pursuant to Section 8.02(a), Lenders holding in the aggregate more than fifty
percent (50%) of the Total Outstandings; provided that the Commitment of, and the portion of the
Total Outstandings held or deemed held by, any Defaulting Lender shall be excluded for purposes of
making a determination of Required Lenders.

          “Revolving Credit Assumption Agreement” has the meaning specified in Section 2.17(d)(ii).

          “Revolving Credit Commitment” means as to any Lender (a) the amount set forth opposite such
Lender’s name on Schedule 2.01 hereto as such Lender’s “Revolving Credit Commitment”, (b)
if such Lender has become a Lender hereunder pursuant to an Assignment and Assumption, the amount
set forth as such Lender’s “Revolving Credit Commitment” in such Assignment and Assumption or (c)
if such Lender has entered into any Assignment and Assumption, the amount set forth as such
Lender’s “Revolving Credit Commitment” in the Register maintained by the Administrative Agent
pursuant to Section 10.06(c), as such amount may be reduced pursuant to Section 2.08. The
aggregate amount of the Revolving Credit Commitments on the Closing Date is Two Hundred Million and
00/100 Dollars ($200,000,000.00).

          “Revolving Credit Commitment Date” has the meaning specified in Section 2.17(b).

          “Revolving Credit Commitment Increase” has the meaning specified in Section 2.17(a).

21

 

          “Revolving Credit Increase Date” has the meaning specified in Section 2.17(a).

          “Revolving Credit Maturity Date” means the earliest of (a) September 27, 2012, subject to
extension pursuant to Section 2.18, (b) the date of termination in whole of the
Revolving Credit Commitments pursuant to Section 2.08 and (c) the date of the termination in
whole of the Commitments pursuant to Section 8.02(a).

          “Revolving Credit Note” means a promissory note made by the Borrower in favor of a Lender
evidencing the Revolving Loans made by such Lender, substantially in the form of Exhibit D,
as amended, modified or supplemented from time to time.

          “Revolving Loan” means a Loan by a Lender to the Borrower as part of a Revolving Loan
Borrowing and refers to a Base Rate Loan or a Eurodollar Rate Loan, each of which shall be a
“Type” of Revolving Loan.

          “Revolving Loan Borrowing” means a borrowing consisting of simultaneous Revolving Loans of the
same Type made be each of the Lenders pursuant to Section 2.01.

          “Revolving Loan Outstandings” means, at any time, the then aggregate outstanding principal
amount of all Revolving Loans.

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

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

          “Solvent” shall mean, with respect to any person on a particular date, that on such date (i)
the fair value of the property of such person is greater than the total amount of liabilities,
including, without limitation, contingent liabilities, of such person, (ii) the present fair
salable value of the assets of such person is not less than the amount that will be required to pay
the probable liability of such person on its debts as they become absolute and matured, (iii) such
person does not intend to, and does not believe that it will, incur debts or liabilities beyond
such person’s ability to pay as such debts and liabilities mature and (iv) such person is not
engaged in business or a transaction, and is not about to engage in business or a transaction, for
which such person’s property would constitute an unreasonably small capital. For purposes of the
definition of “Solvent” above, the amount of contingent liabilities at any time shall be computed
as the amount that, in the light of all the facts and circumstances existing as such time,
represents the amount that can reasonably be expected to become an actual or matured liability.

          “Subsidiary” means, with respect to any Person, any entity, whether incorporated or
unincorporated (including, without limitation, any limited liability company or limited

22

 

partnership), of which at least a majority of the securities ownership interests having by their
terms ordinary voting power to elect a majority of the board of directors or other Persons
performing similar functions is directly or indirectly owned or controlled by such Person or by
one or more of its respective Subsidiaries or by such Person and any one or more of its
respective Subsidiaries.

          “Subsidiary Guaranty” means the Subsidiary Guaranty made by the Guarantors in favor of the
Administrative Agent, the Issuing Bank, the Swing Loan Bank and the Lenders, substantially in the
form of Exhibit G, as supplemented from time to time pursuant to Section 6.09, each as
amended, modified or supplemented from time to time.

          “Swing Loan” means a Loan made by (a) the Swing Loan Bank pursuant to Section 2.03 or (b) by
any other Lender pursuant to Section 2.05(b).

          “Swing Loan Bank” means National City Bank or such other Lenders as shall, with the consent of
each Swing Loan Bank, the Administrative Agent and the Borrower, have assumed all or any portion of
the obligations of a Swing Loan Bank to make Swing Loans.

          “Swing Loan Borrowing” means a borrowing consisting of a Swing Loan made by the Swing Loan
Bank.

          “Swing Loan Commitment” means an aggregate amount not to exceed Fifteen Million and 00/100
Dollars ($15,000,000.00) at any one time.

          “Swing Loan Outstandings” means, at any time, the aggregate outstanding principal amount of
all Swing Loans.

          “Syndication Agent” means Citibank, N.A., in its capacity as syndication agent under any of
the Loan Documents, or any successor syndication agent.

          “Tax” (including, with correlative meaning, the term “Taxes,”) includes all federal, state,
local and foreign income, profits, franchise, gross receipts, environmental, capital stock,
severances, stamp, payroll, sales, employment, unemployment, disability, use, property,
withholding, excise, production, value added, occupancy and other taxes, duties or assessments of
any nature whatsoever, together with all interest, penalties and additions imposed with respect to
such amounts and any interest in respect of such penalties and additions.

          “Tax Return” includes all returns and reports (including elections, declarations, disclosures,
schedules, estimates and information returns, as well as attachments thereto and amendments
thereof) required to be supplied to a Tax authority relating to Taxes.

23

 

          “Term Loan” means a Loan by a Lender to the Borrower as part of a Term Loan Borrowing and
refers to a Base Rate Loan or a Eurodollar Rate Loan, each of which shall be a “Type” of
Term Loan.

          “Term Loan Borrowing” means a borrowing consisting of simultaneous Term Loans of the same Type
made by each of the Lenders pursuant to Section 2.02(a).

          “Term Loan Commitment” means as to any Lender (a) the amount set forth opposite such Lender’s
name on Schedule 2.02 hereto as such Lender’s “Term Loan Commitment”, (b) if such Lender
has become a Lender hereunder pursuant to an Assignment and Assumption, the amount set forth as
such Lender’s “Term Loan Commitment” in such Assignment and Assumption or (c) if such Lender has
entered into any Assignment and Assumption, the amount set forth as such Lender’s “Term Loan
Commitment” in the Register maintained by the Administrative Agent pursuant to Section 10.06(c), in
each case as the Term Loan Outstandings with respect to such Term Loan Commitment are reduced under
this Agreement, including without limitation, pursuant to Section 2.09(b). The aggregate amount of
the Term Loan Commitments on the Closing Date is Two Hundred Twenty-Five Million and 00/100 Dollars
($225,000,000.00).

          “Term Loan Maturity Date” means the earliest of (a) September 27, 2012, and (b) the date of
the termination in whole of the Commitments pursuant to Section 8.02(a).

          “Term Loan Outstandings” means, at any time, the then aggregate outstanding principal amount
of all Term Loans.

          “Term Note” means a promissory note made by the Borrower in favor of a Lender evidencing the
Term Loan made by such Lender, substantially in the form of Exhibit E, as amended, modified
or supplemented from time to time.

          “Total Commitments” means Four Hundred Twenty-Five Million and 00/100 Dollars
($425,000,000.00), as such amount may be increased or reduced as expressly provided in this
Agreement.

          “Total Outstandings” means, at any time, the sum of (i) the Term Loan Outstandings, (ii) the
Revolving Loan Outstandings, (iii) the Swing Loan Outstandings and the (iv) the Letter of Credit
Outstandings.

          “Transactions” means the execution, delivery and performance by the Loan Parties of the Loan
Documents, the borrowing of Loans, the issuance of Letters of Credit and the use of the proceeds
thereof.

24

 

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

          “Unfunded Liability” means the amount (if any) by which the present value of all vested and
unvested accrued benefits under a Single Employer Plan exceeds the fair market
value of assets allocable to such benefits, all determined as of the then most recent
valuation date for such Plans based on the actuarial assumptions used by the Plan’s actuary in the
most recent annual valuation of the Plan.

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

          “Unused Revolving Credit Commitment” means, with respect to each Lender at any time, (a) such
Lender’s Revolving Credit Commitment at such time minus (b) the sum of (i) the aggregate
principal amount of all Revolving Loans made by such Lender (in its capacity as a Lender) and
outstanding at such time, plus (ii) such Lender’s Applicable Revolving Credit Percentage of
the aggregate Available Amount of all the Letters of Credit outstanding at such time.

          Section 1.02 Other Interpretive Provisions.

          With reference to this Agreement and each other Loan Document, unless otherwise specified
herein or in such other Loan Document:

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

25

 

(vi) the words “asset” and “property” shall be construed to have the same meaning and effect
and to refer to any and all tangible and intangible assets and properties, including cash,
securities, accounts and contract rights.

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

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

          Section 1.03 Accounting Terms.

          (a) Generally. All accounting terms not specifically or completely defined herein shall be
construed in conformity with, and all financial data (including financial ratios and other
financial calculations) required to be submitted pursuant to this Agreement shall be prepared in
conformity with, GAAP applied on a consistent basis, as in effect from time to time.

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

          Section 1.04 Times of Day.

          Unless otherwise specified, all references herein to times of day shall be references to
Eastern time (daylight or standard, as applicable).

          Section 1.05 Rounding.

          For the purposes of the calculating the number of shares of Pledged Equity pursuant to
Sections 5.18 and 7.05(c) and the definition of “Pledged Equity”, if the pledge of sixty-five
percent (65%) of the stock or other interests of the applicable Material Subsidiary would result in
the issuance of fractional shares, such lower percentage that would be rounded up to

26

 

sixty-five
percent (65%) if such percentage were carried to the first decimal point may be used to determine
the number of shares or other interests.

ARTICLE II

THE COMMITMENTS AND LOANS

          Section 2.01 Revolving Loans.

          (a) Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make
Revolving Loans to the Borrower from time to time on any Business Day during the Availability
Period in an aggregate amount not to exceed at any time such Lender’s Unused Revolving Credit
Commitment. Anything in this Agreement to the contrary notwithstanding, the Total Outstandings
shall not on the date of any extension of credit under this Agreement nor on the last day of an
Interest Period for any outstanding Borrowing exceed the Total Commitments.

          (b) Each Revolving Loan Borrowing shall be in an aggregate amount of not less than Ten Million
and 00/100 Dollars ($10,000,000.00) or a whole multiple of One Million and 00/100 Dollars
($1,000,000.00) in excess thereof or the aggregate Unused Revolving Credit Commitments, if less.
Each Revolving Loan Borrowing shall consist of Revolving Loans of the same Type made on the same
day by the Lenders ratably according to their respective Revolving Credit Commitments.

          (c) Within the limits set forth above, the Borrower may from time to time borrow, prepay
pursuant to Section 2.07, repay pursuant to Section 2.09 and reborrow under this Section 2.01.

          Section 2.02 Term Loans.

          (a) Subject to the terms and conditions hereof, and relying upon the representations and
warranties herein set forth, each Lender severally agrees to make a Term Loan to the Borrower on
the Closing Date in the aggregate principal amount of Two Hundred Twenty-Five Million and 00/100
Dollars ($225,000,000.00) based upon and not to exceed such Lender’s Term Loan Commitment.
Anything in this Agreement to the contrary notwithstanding, the Total Outstandings shall not on the
date of any extension of credit under this Agreement nor on the last day of an Interest Period for
any outstanding Borrowing exceed the Total Commitments.

          (b) The obligations of each Lender to make Term Loans to the Borrower shall be in proportion
to such Lender’s Applicable Term Loan Percentage, but each Lender’s Term Loan to the Borrower shall
never exceed the Term Loan Commitment. The failure of any Lender to make a Term Loan shall not
relieve any other Lender of its obligations to make a Term Loan nor shall it impose any additional
liability on any other Lender hereunder. The Lenders

27

 

shall have no obligation to make Term Loans
hereunder after the Closing Date. The Term Loan Commitments are not revolving credit commitments,
and the Borrower shall not have the right to borrow, repay and reborrow under this Section 2.02.

          Section 2.03 Swing Loans.

          (a) The Borrower may request the Swing Loan Bank to make, and the Swing Loan Bank agrees, on
the terms and conditions hereof including the limitation set forth in Section 2.01(b), to make
Swing Loans to the Borrower from time to time on any Business Day during the Availability Period in
an aggregate amount not to exceed at any time outstanding Fifteen Million and 00/100 Dollars
($15,000,000.00).

          (b) Each Swing Loan shall be a Base Rate Loan or shall bear interest at such other interest
rate as mutually agreed to between the Borrower and the Swing Loan Bank.

          (c) Within the limits of the Swing Loan Commitments and the Unused Revolving Credit
Commitments as aforesaid, the Borrower may borrow under this Section 2.03, prepay pursuant to
Section 2.07, repay pursuant to Section 2.09 and reborrow under this Section 2.03.

          Section 2.04 Letters of Credit.

          (a) The Issuing Bank agrees, on the terms and conditions hereof, to issue one or more letters
of credit (each, a “Letter of Credit”) for the account of the Borrower, or any Subsidiary of the
Borrower, from time to time on any Business Day during the Availability Period until the date
thirty (30) days before the then scheduled Revolving Credit Maturity Date, provided that
(i) the aggregate Available Amount of all Letters of Credit shall not exceed at any time the Letter
of Credit Facility (ii) the Available Amount of such Letters of Credit shall not exceed the
aggregate Unused Revolving Credit Commitments of the Lenders at such time and (iii) if a Letter of
Credit shall be issued for a Subsidiary of the Borrower, the Borrower shall cause such Subsidiary
to be a co-applicant with the Borrower with respect to such Letter of Credit.

          (b) No Letter of Credit shall have an expiration date (including all rights of the Borrower or
the beneficiary thereof to require renewal of, or to have automatically renewed, such Letter of
Credit) later than thirty (30) days before the then scheduled Revolving Credit Maturity Date (as in
effect on the date of issuance of the applicable Letter of Credit).

          (c) Any Letter of Credit may provide that it will be automatically renewed annually unless
notice is given (1) by the Borrower to the relevant Issuing Bank not less than five (5) Business
Days prior to the date of the automatic renewal of such Letter of Credit, that such Letter of
Credit will not be renewed, or (2) by the relevant Issuing Bank to the Borrower

28

 

not less than
thirty (30) Business Days prior to the date of the automatic renewal of such Letter of Credit, of
its election not to renew such Letter of Credit; provided, however, that no Issuing
Bank shall give such a notice except (A) at any time during the continuance of any Event of Default
or (B) if any automatic renewal would extend a Letter of Credit expiration date to later
than thirty (30) days prior to the then scheduled Revolving Credit Maturity Date. In either
case in which such notice is given pursuant to the preceding sentence, such Letter of Credit will
expire on the date it would otherwise have been automatically renewed, provided that the
terms of such Letter of Credit may (y) require the relevant Issuing Bank forthwith to give to the
named beneficiary of such Letter of Credit notice of any notice given pursuant to the preceding
sentence and (z) permit the beneficiary, upon receipt of the notice under clause (y), to draw under
such Letter of Credit prior to the date such Letter of Credit would otherwise have been
automatically renewed.

          (d) Within the limits of the Letter of Credit Facility, the Borrower may request the issuance
of Letters of Credit under Section 2.04(a), repay any Letter of Credit Loans resulting from
drawings thereunder and request the issuance of additional Letters of Credit under Section 2.04(a).

          (e) Each letter of credit listed on Schedule 2.04 shall be deemed to constitute a
Letter of Credit issued hereunder, and each Lender or each Affiliate of a Lender that is an issuer
of such a Letter of Credit shall, for purposes of Section 2.19, be deemed to be the Issuing Bank
for each such letter of credit, provided than any renewal or replacement of any such letter
of credit shall be issued by the Issuing Bank pursuant to the terms of this Agreement.

          Section 2.05 Term Loan Borrowing; Revolving Loan Borrowings, Swing Loan Borrowings.

          (a) Term Loan Borrowing.

     (i) The Term Loan Borrowing shall be made on notice, given not later than (x) in the
case of a Term Loan Borrowing comprised of Eurodollar Rate Loans, 12:00 noon (New York City
time) on the third (3rd) Business Day prior to the Closing Date, and (y) in the
case of a Term Loan Borrowing comprised of Base Rate Loans, 10:00 A.M. (New York City time)
on the Closing Date, by the Borrower to the Administrative Agent, which shall give to each
Lender prompt notice thereof by telecopier, telex, cable or electronic mail. The notice of
Term Loan Borrowing shall be made in the form of a written Loan Notice, or orally and
confirmed immediately in writing, by telecopier, telex, cable or electronic mail, in the
form of a written Loan Notice, specifying therein the requested (i) Type of Term Loan
comprising the Term Loan Borrowing, (ii) aggregate amount of such Term Loan Borrowing and
(iii) in the case of a Term Loan Borrowing comprised of Eurodollar Rate Loans, the Interest
Period for such Term Loan. Each Lender shall (A) before 11:00 A.M. (New York City time) on
the Closing Date (in the

29

 

case of a Eurodollar Rate Borrowing) and (B) before 1:00 P.M. (New
York City time) on the Closing Date of such Term Loan Borrowing (in the case of a Base Rate
Borrowing), make available for the account of its applicable Lending Office to the
Administrative Agent at the Administrative Agent’s Account in same day funds, such Lender’s
ratable
portion of such Term Loan Borrowing (based upon its Applicable Term Loan Percentage).
After the Administrative Agent’s receipt of such funds and upon fulfillment of the
applicable conditions set forth in Section 4.01, the Administrative Agent will make such
funds available to the Borrower in such manner as the Administrative Agent and the Borrower
may agree.

     (ii) Subject to Sections 3.02 and 3.03, the notice of Term Loan Borrowing shall be
irrevocable and binding on the Borrower. If the notice of Term Loan Borrowing specifies
such Term Loan Borrowing is to be comprised of Eurodollar Rate Loans, the Borrower shall
indemnify each relevant Lender against any loss, cost or expense incurred by such Lender as
a result of any failure to fulfill on or before the Closing Date the applicable conditions
set forth in Section 4.01, including, without limitation, any loss (excluding loss of
anticipated profits), cost or expense incurred by reason of the liquidation or reemployment
of deposits or other funds acquired by such Lender to fund the Term Loan to be made by such
Lender as part of such Term Loan Borrowing when such Term Loan, as a result of such failure,
is not made on such date.

     (iii) The failure of any Lender to make the Term Loan to be made by it as part of the
Term Loan Borrowing shall not relieve any other Lender of its obligation, if any, hereunder
to make its Term Loan on the Closing Date, but no Lender shall be responsible for the
failure of any other Lender to make the Term Loan to be made by such other Lender on the
Closing Date.

     (iv) If any Lender makes available to the Administrative Agent funds for the Term Loan
to be made by such Lender as provided in the foregoing provisions of this Article II, and
such funds are not made available on the Closing Date to the Borrower by the Administrative
Agent because the conditions to the Term Loan Borrowing set forth in Section 4.01 are not
satisfied or waived in accordance with the terms hereof, the Administrative Agent shall
return such funds (in like funds as received from such Lender) to such Lender within one (1)
Business Day, without interest.

     (v) The obligations of the Lenders hereunder to make Term Loans and to make payments
pursuant to Section 10.04(c) are several and not joint. The failure of any Lender to make
any Term Loan or to make any payment under Section 10.04(c) on any date required hereunder
shall not relieve any other Lender of its corresponding obligation to do so on such date,
and no Lender shall be responsible for the failure of any other Lender to so make its Term
Loan or to make its payment under Section 10.04(c).

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

          (b) Revolving Loan Borrowings. (i) Each Revolving Loan Borrowing shall be made on notice,
given not later than (x) 12:00 noon (New York City time) on the third (3rd) Business Day
prior to the date of a Eurodollar Rate Borrowing, and (y) 10:00 A.M. (New York City time) on the
day of a Base Rate Borrowing, by the Borrower to the Administrative Agent, which shall give to each
Lender prompt notice thereof by telecopier, telex, cable or electronic mail. Each notice of a
Revolving Loan Borrowing (a “Notice of Revolving Loan Borrowing”) shall be made in the form of a
written Loan Notice, or orally and confirmed immediately in writing, by telecopier, telex, cable or
electronic mail, in the form of a written Loan Notice, specifying therein the requested (i) date of
such Revolving Loan Borrowing (which shall be a Business Day), (ii) Type of Revolving Loan
comprising such Revolving Loan Borrowing, (iii) aggregate amount of such Revolving Loan Borrowing
and (iv) in the case of a Revolving Loan Borrowing comprised of Eurodollar Rate Loans, the Interest
Period for each such Revolving Loan. Each Lender shall (A) before 11:00 A.M. (New York City time)
on the date of such Borrowing (in the case of a Eurodollar Rate Borrowing) and (B) before 1:00 P.M.
(New York City time) on the date of such Borrowing (in the case of a Base Rate Borrowing), make
available for the account of its applicable Lending Office to the Administrative Agent at the
Administrative Agent’s Account in same day funds, such Lender’s ratable portion of such Borrowing
(based upon its Applicable Revolving Credit Percentage). After the Administrative Agent’s receipt
of such funds and upon fulfillment of the applicable conditions set forth in Section 4.02, the
Administrative Agent will make such funds available to the Borrower in such manner as the
Administrative Agent and the Borrower may agree; provided, however, that the
Administrative Agent shall first make a portion of such funds equal to the aggregate principal
amount of any Swing Loan and Letter of Credit Loans as to which the Borrower has received timely
notice made by the Swing Loan Bank or the Issuing Bank, as the case may be, and by any other Lender
and outstanding on the date of such Revolving Loan Borrowing, plus interest accrued and unpaid
thereon to and as of such date, available to the Swing Loan Bank or the Issuing Bank, as the case
may be, and such other Lenders for repayment of such Swing Loans and Letter of Credit Loans.

     (ii) Subject to Sections 3.02 and 3.03, each Notice of Revolving Loan Borrowing shall be
irrevocable and binding on the Borrower. In the case of any Revolving Loan Borrowing by the
Borrower which the related Notice of Revolving Loan Borrowing specifies is to be comprised
of Eurodollar Rate Loans, the Borrower shall indemnify each relevant Lender against any
loss, cost or expense incurred by such Lender as a result of any failure to fulfill on or
before the date specified in such Notice of Revolving Loan Borrowing for such Revolving Loan
Borrowing the applicable conditions set forth in Section 4.02, including, without
limitation, any loss (excluding

31

 

loss of anticipated profits), cost or expense incurred by
reason of the liquidation or reemployment of deposits or other funds acquired by such Lender
to fund the Revolving Loan to be made by such Lender as part of such Revolving Loan
Borrowing when such Revolving Loan, as a result of such failure, is not made on such date.

     (iii) Unless the Administrative Agent shall have received notice from a Lender prior to
the time any Revolving Loan Borrowing is required to be made that such Lender will not make
available to the Administrative Agent such Lender’s ratable portion of such Revolving Loan
Borrowing, the Administrative Agent may assume that such Lender has made such portion
available to the Administrative Agent on the date of such Revolving Loan Borrowing in
accordance with subsection (b)(i) of this Section 2.05 and the Administrative Agent may, in
reliance upon such assumption, make available to the Borrower on such date a corresponding
amount. If and to the extent that such Lender shall not have so made such ratable portion
available to the Administrative Agent, such Lender agrees to pay to the Administrative Agent
forthwith on demand a fee in the amount of Two Hundred Dollars ($200.00), and such Lender
and the Borrower severally agree to repay to the Administrative Agent forthwith on demand
such ratable portion of such Revolving Loan Borrowing together with interest thereon, for
each day from the date such amount is made available to the Borrower until the date such
amount is repaid to the Administrative Agent, at (A) in the case of the Borrower, the
interest rate applicable at the time to Revolving Loans comprising such Revolving Loan
Borrowing and (ii) in the case of such Lender, the Federal Funds Rate, provided that
the Borrower retains its rights against such Lender with respect to any damages it may incur
as a result of such Lender’s failure to fund, and notwithstanding anything herein to the
contrary, in no event shall the Borrower be liable to such Lender or any other Person for
the interest payable by such Lender to the Administrative Agent pursuant to this sentence.
If such Lender shall repay to the Administrative Agent such corresponding amount, such
amount so repaid shall constitute such Lender’s Revolving Loan as part of such Revolving
Loan Borrowing for purposes of this Agreement.

     (iv) The failure of any Lender to make the Revolving Loan to be made by it as part of
any Revolving Loan Borrowing shall not relieve any other Lender of its obligation, if any,
hereunder to make its Revolving Loan on the date of such Revolving Loan Borrowing, but no
Lender shall be responsible for the failure of any other Lender to make the Revolving Loan
to be made by such other Lender on the date of any Revolving Loan Borrowing.

     (v) If any Lender makes available to the Administrative Agent funds for any Loan to be
made by such Lender as provided in the foregoing provisions of this Article II, and such
funds are not made available to the Borrower by the Administrative Agent because the
conditions to the applicable Borrowing set forth in Section 4.02 are not satisfied or waived
in accordance with the terms hereof, the Administrative Agent

32

 

shall return such funds (in
like funds as received from such Lender) to such Lender, without interest.

     (vi) The obligations of the Lenders hereunder to make Loans and to make payments
pursuant to Section 10.04(c) are several and not joint. The failure of any
Lender to make any Loan or to make any payment under Section 10.04(c) on any date
required hereunder shall not relieve any other Lender of its corresponding obligation to do
so on such date, and no Lender shall be responsible for the failure of any other Lender to
so make its Loan or to make its payment under Section 10.04(c).

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

          (c) Swing Loan Borrowings. (i) Each Swing Loan Borrowing shall be made on oral notice, given
not later than 2:00 P.M. (New York City time) on the date of such proposed Swing Loan Borrowing by
the Borrower to the Administrative Agent (who shall promptly inform the Swing Loan Bank thereof).
Promptly thereafter, the Borrower shall give written notice of the Swing Loan Borrowing (each such
notice a “Notice of Swing Loan Borrowing”) to the Administrative Agent by electronic mail (which
shall give to the Swing Loan Bank prompt notice thereof by electronic mail), and shall specify
therein (i) the date of such Borrowing (which shall be a Business Day), (ii) the amount of such
Borrowing and (iii) the account of the Borrower to which the proceeds of such Borrowing are to be
made available.

     (ii) Upon (i) demand by the Swing Loan Bank, each other Lender shall purchase from the
Swing Loan Bank, and the Swing Loan Bank shall sell and assign to each other Lender, such
other Lender’s Applicable Revolving Credit Percentage of each outstanding Swing Loan made by
the Swing Loan Bank together with related claims for accrued and unpaid interest or (ii) an
Event of Default of the type referred to in clauses (a), (f), (g) or (h) of Section 8.01,
upon a Change of Control or any rescission or restoration of any payment received by the
Swing Loan Bank in respect of any Swing Loan (whether as a result of proceedings in
bankruptcy or otherwise), each Lender shall purchase from the Swing Loan Bank, and the Swing
Loan Bank shall sell and assign to each Lender, such Lender’s Applicable Revolving Credit
Percentage of each outstanding Swing Loan together with related claims for accrued and
unpaid interest, in each case by making available for the account of its Applicable Lending
Office to the Administrative Agent for the account of the Swing Loan Bank by deposit to the
Administrative Agent at its aforesaid address, in same day funds, an amount equal to the sum
of (x) the portion of the outstanding principal amount of such Swing Loans to be purchased
by such Lender plus (y) interest accrued and unpaid to and as of such date on such
portion of the outstanding principal amount of such Swing Loans. Each Lender’s obligation
to make

33

 

such payments to the Administrative Agent for the account of the Swing Loan Bank
under this paragraph (b)(ii), and the Swing Loan Bank’s right to receive the same, shall be
absolute and unconditional and shall not be affected by any circumstance whatsoever,
including, without limitation, the failure of any other Lender to make its payment under
this paragraph (c)(ii), the financial condition of the Borrower (or any other Person), the
existence of any Default, the failure of any of the conditions set forth in Section
4.02 to be satisfied, or the termination of the Commitments. Each such payment to the Swing
Loan Bank shall be made without any offset, abatement, withholding or reduction whatsoever.
Each Lender agrees to purchase its Applicable Revolving Credit Percentage of such
outstanding Swing Loans as described above on (i) the Business Day on which demand therefor
is made by the Swing Loan Bank, provided that notice of such demand is given not
later than 11:00 A.M. (New York City time) on such Business Day or (ii) the first
(1st) Business Day next succeeding such demand if notice of such demand is given
after such time. Upon any such assignment by the Swing Loan Bank to any other Lender of a
portion of the Swing Loan Bank’s Swing Loans, the Swing Loan Bank represents and warrants to
such other Lender that the Swing Loan Bank is the legal and beneficial owner of such
interest being assigned by it, but makes no other representation or warranty and assumes no
responsibility with respect to such Swing Loan, the Loan Documents or any party thereto. If
and to the extent that any Lender shall not have so made the amount of such Swing Loan
available to the Administrative Agent, such Lender agrees to pay to the Administrative Agent
for the account of the Swing Loan Bank forthwith on demand such amount together with
interest thereon, for each day from the date of demand by the Swing Loan Bank until the date
such amount is paid to the Administrative Agent, at the Federal Funds Rate. If such Lender
shall pay to the Administrative Agent such amount for the account of the Swing Loan Bank,
such amount so paid in respect of principal shall constitute a Swing Loan by such Lender for
purposes of this Agreement, and the outstanding principal amount of the Swing Loans made by
the Swing Loan Bank shall be reduced by such amount pro rata.

          Section 2.06 Conversions or Continuations.

          (a) Each conversion of Loans from one Type to the other and each continuation of Eurodollar
Rate Loans shall be made upon the Borrower’s irrevocable notice to the Administrative Agent, which
may be given by telephone or in the form of a written Conversion or Continuation Notice. Each such
notice must be received by the Administrative Agent not later than 12:00 noon three (3) Business
Days prior to the requested date of any conversion to or continuation of Eurodollar Rate Loans or
of any conversion of Eurodollar Rate Loans to Base Rate Loans. Each telephonic notice by the
Borrower pursuant to this Section 2.06(a) must be confirmed promptly by delivery to the
Administrative Agent of a written Conversion or Continuation Notice appropriately completed and
signed by an Authorized Officer of the Borrower. Each conversion to or continuation of Eurodollar
Rate Loans shall be in a principal amount of Ten Million and 00/100 Dollars ($10,000,000.00) or a
whole multiple of

34

 

One Million and 00/100 Dollars ($1,000,000.00) in excess thereof. Each
conversion to Base Rate Loans shall be in a principal amount of Five Hundred Thousand and 00/100
Dollars ($500,000.00) or a whole multiple of One Hundred Thousand and 00/100 Dollars ($100,000.00)
in excess thereof. Each Conversion or Continuation Notice (whether telephonic or written) shall
specify (i) whether the Borrower is requesting a conversion of Loans from one Type to the other
or a continuation of Eurodollar Rate Loans, (ii) the requested date of the conversion or
continuation, as the case may be (which shall be a Business Day), (iii) the principal amount of
Loans to be converted or continued, (iv) the Type of Loans to which existing Loans are to be
converted, and (v) if applicable, the duration of the Interest Period with respect thereto. If the
Borrower fails to give a timely notice requesting a conversion or continuation, then the applicable
Loans shall be made as, or converted to, Base Rate Loans. Any such automatic conversion to Base
Rate Loans shall be effective as of the last day of the Interest Period then in effect with respect
to the applicable Eurodollar Rate Loans. If the Borrower requests a conversion to, or continuation
of Eurodollar Rate Loans in any such Conversion or Continuation Notice, but fails to specify an
Interest Period, it will be deemed to have specified an Interest Period of one month.

          (b) Except as otherwise provided herein, a Eurodollar Rate Loan may be continued or converted
only on the last day of an Interest Period for such Eurodollar Rate Loan. During the existence of
an Event of Default, no Loans may be converted to or continued as Eurodollar Rate Loans without the
consent of the Required Lenders.

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

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

          Section 2.07 Prepayments.

          (a) Voluntary Prepayments. The Borrower may, upon notice to the Administrative Agent, at any
time or from time to time voluntarily prepay Loans in whole or in part without premium or penalty;
provided that (i) such notice must be received by the Administrative Agent not later than 10:00
a.m. (A) two (2) Business Days prior to any date of prepayment of Eurodollar Rate Loans and (B) on
the date of prepayment of Base Rate Loans; (ii) any prepayment of Loans shall be in a principal
amount of Ten Million and 00/100 Dollars ($10,000,000.00) or a whole multiple of One Million and
00/100 Dollars ($1,000,000.00) in

35

 

excess thereof; if less, the entire principal amount thereof then
outstanding. Each such notice shall specify the date and amount of such prepayment and the Type(s)
of Loans to be prepaid. All Term Loan prepayments permitted pursuant to this Section 2.07 shall be
applied ratably to the unpaid installments of principal on the Term Loans. If the Borrower prepays
a Loan but fails to specify the applicable Eurodollar Rate Loan which the Borrower is prepaying,
the prepayment shall be applied (i) first to Revolving Loans and then to Term Loans; and (ii) after giving
effect to the allocations in clause (i) above and in the preceding sentence, first to Loans to Base
Rate Loans, then to Eurodollar Rate Loans. The Administrative Agent will promptly notify each
Lender of its receipt of each such notice, and of the amount of such Lender’s Applicable Revolving
Credit Percentage or Applicable Term Loan Percentage, as applicable, of such prepayment. If such
notice is given by the Borrower, the Borrower shall make such prepayment and the payment amount
specified in such notice shall be due and payable on the date specified therein. Any prepayment of
a Eurodollar Rate Loan shall be accompanied by all accrued interest on the amount prepaid, together
with any additional amounts required pursuant to Section 3.05. Each such prepayment shall be
applied to the Loans of the Lenders in accordance with their respective Applicable Revolving Credit
Percentage or Applicable Term Loan Percentage, as applicable.

          (b) Mandatory Prepayments. Within three hundred sixty five (365) days of any sale or other
disposition of assets by the Borrower or such Subsidiary of the Borrower as permitted by Section
7.06(d) when the proceeds of such sale or other disposition or the aggregate proceeds of all such
sales and other dispositions in any fiscal year exceed Twenty-Five Million and 00/100 Dollars
($25,000,000.00), the Borrower shall make a mandatory prepayment of principal on the Term Loan
equal to the after-tax proceeds of such sale (as estimated in good faith by the Borrower), together
with accrued interest on such principal amount to the extent that the Borrower and its Subsidiaries
have not reinvested the proceeds of such sale or other disposition in capital expenditures or
acquisition of replacement assets. All prepayments pursuant to this Section 2.07(b) shall first be
applied ratably to the unpaid installments of principal on the Term Loan, and then to the Revolving
Loans outstanding, if any, and the excess, if any, shall be returned to the Borrower. All
prepayments required pursuant to this Section 2.07(b) shall first be applied to the principal
amount of the Base Rate Loans, then to the principal amount of the Eurodollar Rate Loans. In
accordance with Sections 3.04 and 3.05, as applicable, the Borrower shall indemnify the Lenders for
any loss or expense, including loss of margin, incurred with respect to any such prepayments
applied against Eurodollar Rate Loans on any day other than the last day of the applicable Interest
Period.

          (c) Excess Outstandings. If for any reason the Total Outstandings (excluding the Term Loan
Outstandings) at any time exceed the Aggregate Revolving Credit Commitments then in effect, the
Borrower shall immediately prepay Loans in an aggregate amount equal to such excess.

36

 

          (d) No Reborrowing. Term Loans prepaid pursuant to this Section 2.07 may not be reborrowed.

          Section 2.08 Termination or Reduction of Commitments.

          The Borrower may, upon notice to the Administrative Agent, terminate the Aggregate Revolving
Credit Commitments or from time to time permanently reduce the Aggregate Revolving Credit
Commitments; provided that (i) any such notice shall be received by the Administrative Agent not
later than 11:00 a.m. three (3) Business Days prior to the date of termination or reduction, (ii)
any such partial reduction shall be in an aggregate amount of Ten Million and 00/100 Dollars
($10,000,000.00) or any whole multiple of One Million and 00/100 Dollars ($1,000,000.00) in excess
thereof, and (iii) the Borrower shall not terminate or reduce the Aggregate Revolving Credit
Commitments if, after giving effect thereto and to any concurrent prepayments hereunder, the Total
Outstandings (excluding the Term Loan Outstandings) would exceed the Aggregate Revolving Credit
Commitments. The Administrative Agent will promptly notify the Lenders of any such notice of
termination or reduction of the Aggregate Revolving Credit Commitments. Any reduction of the
Aggregate Revolving Credit Commitments shall be applied to the Commitment of each Lender according
to its Applicable Revolving Credit Percentage. All fees accrued until the effective date of any
termination of the Aggregate Revolving Credit Commitments shall be paid on the effective date of
such termination.

          Section 2.09 Repayment of Loans.

          (a) Revolving Loans. The Borrower shall repay to the Administrative Agent for the account of
each Lender the principal amount of each Revolving Loan made by such Lender to the Borrower, and
each Revolving Loan made by such Lender shall mature, on the earlier of (i) the last day of the
Interest Period for such Revolving Loan and (ii) the Revolving Credit Maturity Date.

          (b) Term Loans. The Borrower shall repay to the Administrative Agent for the account of each
Lender, as applicable, the principal amount of the Term Loans made by such Lender to the Borrower
in: consecutive quarterly installments as follows: (i) on the last Business Day of each March,
June, September and December, 2010, a quarterly installment each in an amount equal to Eleven
Million Two Hundred Fifty Thousand and 00/100 Dollars ($11,250,000.00); (ii) on the last Business
Day of each March, June, September and December, 2011, a quarterly installment each in an amount
equal to Eleven Million Two Hundred Fifty Thousand and 00/100 Dollars ($11,250,000.00); and (iii)
on the last Business Day of each March and June, 2012, a quarterly installment each in an amount
equal to Thirty Three Million Seven Hundred Fifty Thousand and 00/100 Dollars ($33,750,000.00),
with the final installment of the remaining principal balance and accrued and unpaid interest due
and payable on the Term Loan Maturity Date.

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          (c) Swing Loans. The Borrower shall repay to the Administrative Agent for the account of the
Swing Loan Bank and each other Lender that has made a Swing Loan, the outstanding principal amount
of each Swing Loan to the Borrower made by each of them on the
earlier of (i) the first Wednesday following the date of such Swing Loan Borrowing and (ii)
the Revolving Credit Maturity Date.

          Section 2.10 Interest.

          (a) Subject to Section 2.10(b), (i) each Eurodollar Rate Loan shall bear interest on the
outstanding principal amount thereof for each Interest Period at a rate per annum equal to the
Eurodollar Rate for such Interest Period plus the respective Applicable Margin; and (ii) each Base
Rate Loan shall bear interest on the outstanding principal amount thereof from the applicable
borrowing date at a rate per annum equal to the Base Rate plus the respective Applicable Margin.

          (b) If any principal of or interest on any Loan or any fee or other amount payable by the Loan
Parties hereunder is not paid when due, whether at stated maturity, upon acceleration or otherwise,
such overdue amount shall bear interest, after as well as before judgment, at a rate per annum
equal to the Default Rate to the fullest extent permitted by applicable laws. Accrued and unpaid
interest on past due amounts (including interest on past due interest) shall be due and payable
upon demand.

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

          Section 2.11 Interest Rate Determination.

          (a) The Administrative Agent shall give prompt notice to the Borrower and the Lenders of the
applicable interest rate determined by the Administrative Agent if the screen rate is unavailable.

          (b) If the Borrower shall fail to select the duration of any Interest Period for any
Eurodollar Rate Loans in accordance with the provisions contained in the definition of “Interest
Period” in Section 1.01, the Administrative Agent will forthwith so notify the Borrower and the
Lenders and such Loans will automatically, on the last day of the then existing Interest Period
therefor, convert into Base Rate Loans.

          (c) On the date on which the aggregate unpaid principal amount of Eurodollar Rate Loans
comprising any Borrowing shall be reduced, by payment or prepayment or

38

 

otherwise, to less than Ten
Million and 00/100 Dollars ($10,000,000.00), such Loans shall automatically, on the last day of the
then existing Interest Period therefor, convert into Base Rate Loans.

          (d) Upon the occurrence and during the continuance of any Event of Default, (i) each
Eurodollar Rate Loan will automatically, on the last day of the then existing Interest Period
therefor, convert into a Base Rate Loan and (ii) the obligation of the Lenders to make, or to
convert Loans into, Eurodollar Rate Loans shall be suspended.

          (e) If the Reuters LIBOR01 Screen is unavailable and the Administrative Agent cannot determine
the Eurodollar Rate for any Eurodollar Rate Loans:

     (i) the Administrative Agent shall forthwith notify the Borrower and the Lenders that
the interest rate cannot be determined for such Eurodollar Rate Loans,

     (ii) each outstanding Eurodollar Rate Loan will automatically, on the last day of the
then existing Interest Period therefor, convert into a Base Rate Loan (or if such Loan is
then a Base Rate Loan, will continue as a Base Rate Loan), and

     (iii) the obligation of the Lenders to make Eurodollar Rate Loans or to convert Loans
into Eurodollar Rate Loans shall be suspended until the Administrative Agent shall notify
the Borrower and the Lenders that the circumstances causing such suspension no longer exist.

          Section 2.12 Fees.

          (a) Facility Fee. The Borrower shall pay to the Administrative Agent for the account of each
Lender in accordance with its Applicable Revolving Credit Percentage, a facility fee equal to the
respective Applicable Margin times the Aggregate Revolving Credit Commitments. The facility fee
shall accrue at all times from and including the Closing Date to but excluding the Revolving Credit
Maturity Date, including at any time during which one or more of the conditions in Article IV is
not met, and shall be due and payable quarterly in arrears on the last Business Day of each
September, December, March and June, commencing September 30, 2008, and on the Revolving Credit
Maturity Date (and, if applicable, thereafter on demand).

          (b) Letter of Credit Fees. The Borrower shall pay the following amounts with respect to
Letters of Credit issued by any Issuing Bank:

     (i) to the Administrative Agent for the account of the Issuing Bank with respect to
each Letter of Credit issued by the Issuing Bank, an issuance fee equal to one eighth of one
percent (0.125%) per annum of the Available Amount of such Letter of

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Credit, due and payable
in arrears on (A) the last Business Day of each September, December, March and June,
commencing on the first day following the issuance of such Letter of Credit and (B) the
Revolving Credit Maturity Date (and, if applicable, thereafter on demand); and

     (ii) to the Administrative Agent for the ratable account of each Lender, a letter of
credit fee equal to a rate per annum equal to the Applicable Margin for Eurodollar Rate
Loans on the Available Amount of all outstanding Letters of Credit. The letter of credit
fee shall accrue at all times from and including the Closing Date to and including the
Revolving Credit Maturity Date, including at any time during which one or more of the
conditions in Section 4.02 is not met, and shall be due and payable in arrears on (A) the
last Business Day of each September, December, March and June, commencing September 30, 2008
and (B) the Revolving Credit Maturity Date (and, if applicable, thereafter on demand).

          (c) Other Fees. The Borrower shall pay: (i) the Documentation Agent, for its own account,
such fees as have been agreed to pursuant to the Documentation Agent Fee Letter; and (ii) the
Administrative Agent, for its own account or the account of the Lenders, as applicable, such fees
as have been agreed pursuant to the Administrative Agent Fee Letter.

          Section 2.13 Computation of Interest and Fees.

          All computations of interest for Base Rate Loans shall be made on the basis of a year of 365
or 366 days, as the case may be, and actual days elapsed when the Base Rate is determined pursuant
to clause (b) of the definition of Base Rate. All other computations of fees and interest shall be
made on the basis of a 360-day year and actual days elapsed (which results in more fees or
interest, as applicable, being paid than if computed on the basis of a 365-day year). Interest
shall accrue on each Loan for the day on which the Loan is made, and shall not accrue on a Loan, or
any portion thereof, for the day on which the Loan or such portion is paid, provided that any Loan
that is repaid on the same day on which it is made shall, subject to Section 2.15(a), bear interest
for one (1) day. Each determination by the Administrative Agent of an interest rate or fee
hereunder shall be conclusive and binding for all purposes, absent manifest error.

          Section 2.14 Evidence of Debt.

          The Loans made by each Lender shall be evidenced by one or more accounts or records maintained
by such Lender and by the Administrative Agent in the ordinary course of business. The accounts or
records maintained by the Administrative Agent and each Lender shall be conclusive absent manifest
error of the amount of the Loans made by the Lenders to the Borrower and the interest and payments
thereon. Any failure to so record or any error in doing so shall not, however, limit or otherwise
affect the obligation of the Borrower hereunder to pay

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any amount owing with respect to the
Obligations. In the event of any conflict between the accounts and records maintained by any
Lender and the accounts and records of the Administrative Agent in respect of such matters, the
accounts and records of the Administrative Agent shall control in the absence of manifest error.
Upon the request of any Lender made through the Administrative Agent, the Borrower shall execute
and deliver to such Lender
(through the Administrative Agent) Notes, which shall evidence such Lender’s Loans in addition
to such accounts or records. Each Lender may attach schedules to its Notes and endorse thereon the
date, Type (if applicable), amount and maturity of its Loans and payments with respect thereto.

          Section 2.15 Payments Generally; Administrative Agent’s Clawback.

          (a) General. All payments to be made by the Borrower shall be made without condition or
deduction for any counterclaim, defense, recoupment or setoff. Except as otherwise expressly
provided herein, all payments by the Borrower hereunder shall be made to the Administrative Agent,
for the account of the respective Lenders to which such payment is owed, at the Administrative
Agent’s Office in Dollars and in immediately available funds not later than 2:00 p.m. on the date
specified herein. The Administrative Agent will promptly distribute to each Lender its Applicable
Revolving Credit Percentage or Applicable Term Loan Percentage, as applicable, (or other applicable
share as provided herein) of such payment in like funds as received by wire transfer to such
Lender’s Lending Office. All payments received by the Administrative Agent after 2:00 p.m. shall
be deemed received on the next succeeding Business Day and any applicable interest or fee shall
continue to accrue. If any payment to be made by the Borrower shall come due on a day other than a
Business Day, payment shall be made on the next following Business Day, and such extension of time
shall be reflected in computing interest or fees, as the case may be.

          (b) Payments by Borrower; Presumptions by Administrative Agent. Unless the Administrative
Agent shall have received notice from the Borrower prior to the date on which any payment is due to
the Administrative Agent for the account of the Lenders hereunder that the Borrower will not make
such payment, the Administrative Agent may assume that the Borrower has made such payment on such
date in accordance herewith and may, in reliance upon such assumption, distribute to the Lenders
the amount due. In such event, if the Borrower has not in fact made such payment, then each of the
Lenders severally agrees to repay to the Administrative Agent forthwith on demand the amount so
distributed to such Lender, in immediately available funds with interest thereon, for each day from
and including the date such amount is distributed to it to but excluding the date of payment to the
Administrative Agent, at the greater of the Federal Funds Rate and a rate determined by the
Administrative Agent in accordance with banking industry rules on interbank compensation.

A notice of the Administrative Agent to any Lender or the Borrower with respect to any amount owing
under this Section 2.15(b) shall be conclusive, absent manifest error.

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          Section 2.16 Sharing of Payments by Lenders.

          If any Lender shall, by exercising any right of setoff or counterclaim or otherwise, obtain
payment in respect of any principal of or interest on any of the Loans made by it resulting
in such Lender’s receiving payment of a proportion of the aggregate amount of such Loans and
accrued interest thereon greater than its pro rata share thereof as provided herein, then the
Lender receiving such greater proportion shall (a) notify the Administrative Agent of such fact,
and (b) purchase (for cash at face value) participations in the Loans of the other Lenders, or make
such other adjustments as shall be equitable, so that the benefit of all such payments shall be
shared by the Lenders ratably in accordance with the aggregate amount of principal of and accrued
interest on their respective Loans and other amounts owing them, provided that:

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

     (ii) the provisions of this Section 2.16 shall not be construed to apply to (x) any
payment made by the Borrower pursuant to and in accordance with the express terms of this
Agreement or (y) any payment obtained by a Lender as consideration for the assignment of or
sale of a participation in any of its Loans to any assignee or participant, other than to
the Borrower or any Subsidiary thereof (as to which the provisions of this Section 2.16
shall apply).

The Borrower consents to the foregoing and agrees, to the extent it may effectively do so under
applicable law, that any Lender acquiring a participation pursuant to the foregoing arrangements
may exercise against the Borrower rights of setoff and counterclaim with respect to such
participation as fully as if such Lender were a direct creditor of the Borrower in the amount of
such participation.

          Section 2.17 Increase in the Aggregate Revolving Credit Commitments.

          (a) The Borrower may, at any time but in any event not more than once in any calendar year
prior to the Revolving Credit Maturity Date, by notice to the Administrative Agent in the form
attached hereto as Exhibit C, request that the aggregate amount of the Revolving Credit
Commitments be increased by an amount of at least Ten Million and 00/100 Dollars ($10,000,000.00)
or an integral multiple of Five Million and 00/100 Dollars ($5,000,000.00) in excess thereof (each
a “Revolving Credit Commitment Increase”) to be effective as of a date that is at least ninety (90)
days prior to the scheduled Revolving Credit Maturity Date then in effect (the “Revolving Credit
Increase Date”) as specified in the related notice to the Administrative Agent; provided,
however that (i) in no event shall the aggregate amount of the Revolving Credit Commitments
at any time exceed Three Hundred Million and 00/100 Dollars ($300,000,000.00) and (ii) on the date
of any request by the Borrower for a Revolving Credit Commitment Increase

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and on the related
Revolving Credit Increase Date the conditions set forth in Section 4.03 shall have been satisfied.

          (b) The Administrative Agent shall promptly notify the Lenders of a request by the Borrower
for a Revolving Credit Commitment Increase, which notice shall include (i) the proposed amount of
such requested Revolving Credit Commitment Increase, (ii) the proposed Revolving Credit Increase
Date and (iii) the date by which Lenders wishing to participate in the Revolving Credit Commitment
Increase must commit to an increase in the amount of their respective Revolving Credit Commitments
(the “Revolving Credit Commitment Date”). Each Lender that is willing to participate in such
requested Revolving Credit Commitment Increase (each an “Increasing Revolving Credit Lender”)
shall, in its sole discretion, give written notice to the Administrative Agent on or prior to the
Revolving Credit Commitment Date of the amount by which it is willing to increase its Revolving
Credit Commitment. If the Lenders notify the Administrative Agent that they are willing to
increase the amount of their respective Revolving Credit Commitments by an aggregate amount that
exceeds the amount of the requested Revolving Credit Commitment Increase, the requested Revolving
Credit Commitment Increase shall be allocated among the Lenders pro rata in accordance with the
aggregate Revolving Loan Commitments of such Increasing Revolving Credit Lenders.

          (c) Promptly following each Revolving Credit Commitment Date, the Administrative Agent shall
notify the Borrower as to the amount, if any, by which the Lenders are willing to participate in
the requested Revolving Credit Commitment Increase. If the aggregate amount by which the Lenders
are willing to participate in any requested Revolving Credit Commitment Increase on any such
Revolving Credit Commitment Date is less than the requested Revolving Credit Commitment Increase,
then the Borrower may extend offers to one or more Eligible Assignees to participate in any portion
of the requested Revolving Credit Commitment Increase that has not been committed to by the Lenders
as of the applicable Revolving Credit Commitment Date; provided, however, that the
Revolving Credit Commitment of each such Eligible Assignee shall be in an amount of Five Million
and 00/100 Dollars ($5,000,000.00) or an integral multiple of One Million and 00/100 Dollars
($1,000,000.00) in excess thereof.

          (d) On each Revolving Credit Increase Date, each Eligible Assignee that accepts an offer to
participate in a requested Revolving Credit Commitment Increase in accordance with Section 2.17(c)
(each such Eligible Assignee, an “Assuming Revolving Credit Lender”) shall become a Lender party to
this Agreement as of such Revolving Credit Increase Date and the Revolving Credit Commitment of
each Increasing Revolving Credit Lender for such requested Revolving Credit Commitment Increase
shall be so increased by such amount (or by the amount allocated to such Lender pursuant to the
last sentence of Section 2.17(b)) as of such Revolving Credit Increase Date; provided,
however, that the Administrative Agent shall have received on or before such Revolving
Credit Increase Date the following, each dated such date:

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     (i) certified copies of resolutions of the Board of Directors of the Borrower or the
Executive Committee of such Board approving the Revolving Credit Commitment
Increase and the corresponding modifications to this Agreement and an opinion of
counsel for the Borrower (which may be in-house counsel) satisfactory to the Administrative
Agent;

     (ii) an assumption agreement from each Assuming Revolving Credit Lender, if any, in
form and substance satisfactory to the Borrower and the Administrative Agent (each a
“Revolving Credit Assumption Agreement”), duly executed by such Assuming Revolving Credit
Lender, the Administrative Agent and the Borrower; and

     (iii) confirmation from each Increasing Revolving Credit Lender of the increase in the
amount of its Revolving Credit Commitment in a writing satisfactory to the Borrower and the
Administrative Agent.

On each Revolving Credit Increase Date, upon fulfillment of the conditions set forth in the
immediately preceding sentence of this Section 2.17(d) and in Section 4.03, the Administrative
Agent shall notify the Lenders (including, without limitation, each Assuming Lender) and the
Borrower, on or before 1:00 P.M. (New York City time), by telecopier, of the occurrence of the
Revolving Credit Commitment Increase to be effected on such Revolving Credit Increase Date and
shall record in the Register the relevant information with respect to each Increasing Revolving
Credit Lender and each Assuming Revolving Credit Lender on such date.

          (e) On the Revolving Credit Increase Date, if any Revolving Loans are then outstanding, the
Borrower shall borrow from all or certain of the Lenders and/or (subject to compliance by the
Borrower with Section 3.05) prepay Revolving Loans of all or certain of the Lenders such that,
after giving effect thereto, the Revolving Loans (including, without limitation, the Types and
Interest Periods thereof) shall be held by the Lenders (including for such purposes the Increasing
Revolving Credit Lenders and the Assuming Revolving Credit Lenders) ratably in accordance with
their respective Applicable Revolving Credit Percentage after giving effect to such Revolving
Credit Commitment Increase. On and after each Revolving Credit Increase Date, the Applicable
Revolving Credit Percentage of each Lender’s participation in Revolving Loans shall be calculated
after giving effect to each such Revolving Credit Commitment Increase.

          Section 2.18 Extension of Revolving Credit Maturity Date.

          (a) The Borrower may, by notice to the Administrative Agent (which shall promptly notify the
Lenders) not less than forty-five (45) days and not more than ninety (90) days prior to each of the
first (1st) and second (2nd) anniversaries of the Closing Date (each
anniversary, an “Anniversary Date”, request that each Lender extend such Lender’s Revolving Credit
Maturity Date to the date (the “Extended Revolving Credit Maturity Date”) that is one

44

 

year after
the then scheduled Revolving Credit Maturity Date. Each Lender, acting in its sole discretion,
shall, by written notice to the Administrative Agent given no later than the date (the
"Consent Date”) that is twenty (20) days prior to the relevant Anniversary Date
(provided that, if such date is not a Business Day, the Consent Date shall be the next
succeeding Business Day), advise the Administrative Agent as to:

     (i) whether such Lender agrees to such extension of its Revolving Credit Maturity Date
(each Lender so agreeing to such extension being an “Extending Revolving Credit Lender”);
and

     (ii) only if such Lender is an Extending Revolving Credit Lender, whether such Lender
also irrevocably offers to increase the amount of its Revolving Credit Commitment in
connection with the replacement of one or more Non-Extending Lenders (each Lender so
offering to increase its Revolving Credit Commitment being an “Increasing and Extending
Revolving Credit Lender” as well as an Extending Revolving Credit Lender) and, if so, the
amount of the additional Revolving Credit Commitment such Lender so irrevocably offers to
assume hereunder (such Lender’s “Proposed Additional Revolving Credit Commitment”).

Each Lender that determines not to extend its Revolving Credit Maturity Date (a “Non-Extending
Revolving Credit Lender”) shall notify the Administrative Agent (which shall notify the Lenders) of
such fact promptly after such determination but in any event no later than the Consent Date, and
any Lender that does not advise the Administrative Agent in writing on or before the Consent Date
shall be deemed to be a Non-Extending Revolving Credit Lender and (without limiting the Borrower’s
rights under this Section 2.18) shall have no liability to the Borrower in connection therewith.
The election of any Lender to agree to such extension shall not obligate any other Lender so to
agree. The Administrative Agent shall notify the Borrower of each Lender’s determination under
this Section 2.18(a) no later than the date fifteen (15) days prior to the relevant Anniversary
Date (or, if such date is not a Business Day, on the next preceding Business Day).

     (b) (i) If all of the Lenders are Extending Revolving Credit Lenders, then, effective
as of the Consent Date, the Revolving Credit Maturity Date of each Lender shall be extended
to the Extended Revolving Credit Maturity Date as provided in Section 2.18(b)(ii)(1), and
the respective Revolving Credit Commitments of the Lenders will not be subject to change at
such Consent Date pursuant to this Section 2.18.

     (ii) If and only if the sum of (x) the aggregate amount of the Revolving Credit
Commitments of the Extending Revolving Credit Lenders (that are not Increasing and Extending
Revolving Credit Lenders) plus (y) the aggregate amount of the Proposed Additional
Revolving Credit Commitments of the Increasing and Extending Revolving Credit Lenders (such
sum, the “Extending Revolving Credit Commitments”) shall be

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equal to at least fifty percent
(50%) of the then total Revolving Credit Commitments, then:

(1) effective as of the Consent Date, the Revolving Credit Maturity Date of each
Extending Revolving Credit Lender shall be extended to the Extended Revolving Credit
Maturity Date;

(2) the Borrower shall (so long as no Event of Default shall have occurred and be
continuing) have the right, but not the obligation, during the period commencing on
the Consent Date and ending on the immediately succeeding Anniversary Date to
replace each Non-Extending Revolving Credit Lender as a party to this Agreement in
accordance with Section 2.18(c); and

(3) the Administrative Agent shall notify the Issuing Bank and the Swing Loan Bank
of the Extended Revolving Credit Maturity Date and the Lenders whose Revolving
Credit Maturity Dates are the Extended Revolving Credit Maturity Date, and the
Issuing Bank and the Swing Loan Bank, acting in its sole discretion, shall determine
whether it shall elect to extend its Revolving Credit Maturity Date to the Extended
Revolving Credit Maturity Date and shall so notify the Administrative Agent, at
which time the Issuing Bank’s obligation to issue Letters of Credit pursuant to
Section 2.04 and the Swing Loan Bank’s obligation to make Swing Loan pursuant to
Section 2.03 shall be extended to the date that is thirty (30) days prior to the
Extended Revolving Credit Maturity Date.

     (iii) If neither of the conditions specified in clause (i) or clause (ii) of this
Section 2.18(b) is satisfied, then neither the Revolving Credit Maturity Date nor the
Revolving Credit Commitment of any Lender will change pursuant to this Section 2.18 on such
Consent Date, and the Borrower will not have the right to take any of the actions specified
in Section 2.18(b)(ii)(2).

          (c) Replacement by the Borrower of Non-Extending Revolving Credit Lenders pursuant to Section
2.18(b)(ii)(2) shall be effected as follows (certain terms being used in this Section 2.18(c)
having the meanings assigned to them in Section 2.18(d)) on the relevant Assignment Date:

     (i) the Assignors shall severally assign and transfer to the Assignees, and the
Assignees shall severally purchase and assume from the Assignors, all of the Assignors’
rights and obligations (including, without limitation, the Assignors’ respective Revolving
Credit Commitments) hereunder and under the Revolving Credit Notes;

46

 

     (ii) each Assignee shall pay to the Administrative Agent, for account of the Assignors,
an amount equal to such Assignee’s Share of the aggregate outstanding principal amount of
the Loans then held by the Assignors; and

     (iii) the Borrower shall pay to the Administrative Agent, for account of the Assignors,
all interest, fees and other amounts (other than principal of outstanding Loans) then due
and owing to the Assignors by the Borrower hereunder (including, without limitation,
payments due such Assignors, if any, under Sections 3.01 and 3.04).

The assignments provided for in this Section 2.18(c) shall be effected on the relevant Assignment
Date in accordance with Section 10.06 and pursuant to one or more Assignments and Assumptions.
After giving effect to such assignments, each Assignee shall have a Revolving Credit Commitment
hereunder (which, if such Assignee was a Lender hereunder immediately prior to giving effect to
such assignment, shall be in addition to such Assignee’s existing Revolving Credit Commitment) in
an amount equal to the amount of its Assumed Commitment. Upon any such termination or assignment,
each Assignor shall cease to be a party hereto to the extent of its assignment but shall continue
to be obligated under and be entitled to the benefits of Section 10.04, as well as to any fees and
other amounts accrued for its account under Sections 2.12, 3.01 or 3.04 and not yet paid.

          (d) For purposes of this Section 2.18 the following terms shall have the following meanings
(such meanings to be equally applicable to both the singular and plural forms of the terms
defined):

          “Assigned Commitments” means the Commitments of Non-Extending Revolving Credit Lenders
to be replaced pursuant to Section 2.18(b)(ii)(2).

          “Assignees” means, at any time, Increasing and Extending Revolving Credit Lenders and,
if the Assigned Commitments exceed the aggregate amount of the Proposed Additional Revolving Credit
Commitments, one or more Assuming Revolving Credit Lenders.

          “Assignment Date” means the relevant Anniversary Date or such earlier date as shall be
acceptable to the Borrower, the relevant Assignors, the relevant Assignees and the Administrative
Agent.

          “Assignors” means, at any time, the Non-Extending Revolving Credit Lenders to be
replaced by the Borrower pursuant to Section 2.18(b)(ii)(2).

          The “Assumed Commitment” of each Assignee shall be determined as follows:

          (a) If the aggregate amount of the Proposed Additional Revolving Credit Commitments of all of
the Increasing Revolving Credit Lenders shall exceed the aggregate

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amount of the Assigned
Commitments, then (i) the amount of the Assumed Commitment of each Increasing and Extending
Revolving Credit Lender shall be equal to (x) the aggregate amount of the Assigned Commitments
multiplied by (y) a fraction, the numerator of which is equal to such Increasing
and Extending Revolving Credit Lender’s Revolving Credit Commitment as then in
effect and the denominator of which is the aggregate amount of the Revolving Credit
Commitments of all Increasing and Extending Revolving Credit Lenders as then in effect; and (ii) no
Assuming Revolving Credit Lender shall be entitled to become a Lender hereunder pursuant to Section
2.18(c) (and, accordingly, each Assuming Revolving Credit Lender shall have an Assumed Commitment
of zero).

          (b) If the aggregate amount of the Proposed Additional Revolving Credit Commitments of all of
the Increasing and Extending Revolving Credit Lenders shall be less than or equal to the aggregate
amount of the Assigned Commitments, then: (i) the amount of the Assumed Commitment of each
Increasing and Extending Revolving Credit Lender shall be equal to such Increasing and Extending
Revolving Credit Lender’s Proposed Additional Commitment; and (ii) the excess, if any, of the
aggregate amount of the Assigned Commitments over the aggregate amount of the Proposed
Additional Revolving Credit Commitments shall be allocated among Assuming Revolving Credit Lenders
in such a manner as the Borrower and the Administrative Agent may agree.

          (c) “Share” means, as to any Assignee, a fraction the numerator of which is equal to
such Assignee’s Assumed Commitment and the denominator of which is the aggregate amount of the
Assumed Commitments of all the Assignees.

          Section 2.19 Issuance of Letters of Credit.

          (a) Request for Issuance.

     (i) Each Letter of Credit issued after the date hereof shall be issued upon notice,
given not later than 11:00 A.M. (New York City time) on the third (3rd) Business
Day prior to the proposed issuance of such Letter of Credit (or such shorter period of time
as may be acceptable to the applicable Issuing Bank), by the Borrower to the applicable
Issuing Bank. Each such notice of issuance of a Letter of Credit (a “Notice of Issuance”)
shall be by telephone, confirmed immediately in writing by telecopier, specifying therein
the requested (A) date of such issuance (which shall be a Business Day), (B) Available
Amount of such Letter of Credit, (C) expiration date of such Letter of Credit, (D) name and
address of the beneficiary of such Letter of Credit and (E) form of such Letter of Credit,
and shall be accompanied by such application and agreement for letter of credit (each such
application and agreement being herein called a “Letter of Credit Agreement”) as the Issuing
Bank may specify to the Borrower for use in connection with such requested Letter of Credit.

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     (ii) If the requested form of such Letter of Credit is reasonably acceptable to the
applicable Issuing Bank, the Issuing Bank will, upon fulfillment of the applicable
conditions set forth in Article 4.02, make such Letter of Credit available to the Borrower
at its address set forth on Schedule 10.02 or as otherwise agreed with the Borrower
in
connection with such issuance. In the event and to the extent that the provisions of
any Letter of Credit Agreement shall conflict with this Agreement, the provisions of this
Agreement shall govern.

     (iii) By the issuance of a Letter of Credit (or an amendment to a Letter of Credit
increasing the amount thereof) and without any further action on the part of the applicable
Issuing Bank or the Lenders, the Issuing Bank hereby grants to each Lender, and each Lender
hereby acquires from the Issuing Bank, a participation in such Letter of Credit equal to
such Lender’s Applicable Revolving Credit Percentage of the aggregate amount available to be
drawn under such Letter of Credit. The Borrower hereby agrees to each such participation.
Each Lender acknowledges and agrees that its obligation to acquire participations pursuant
to this paragraph in respect of Letters of Credit is absolute and unconditional and shall
not be affected by any circumstance whatsoever, including any amendment, renewal or
extension of any Letter of Credit or the occurrence and continuance of a Default or
reduction or termination of the Revolving Credit Commitments, and that each such payment
shall be made without any offset, abatement, withholding or reduction whatsoever. Each
Lender further acknowledges and agrees that its participation in each Letter of Credit will
be automatically adjusted to reflect such Lender’s Applicable Revolving Credit Percentage of
the Available Amount of such Letter of Credit at each time such Lender’s Revolving Credit
Commitment is amended pursuant to the operation of Section 2.17 or 2.18, as applicable, by
an assignment in accordance with Section 10.06 or otherwise pursuant to this Agreement.

          (b) Drawing and Reimbursement.

     (i) The payment by the Issuing Bank of a draft drawn under any Letter of Credit shall
constitute for all purposes of this Agreement the making by the Issuing Bank of a Letter of
Credit Loan, which shall be a Base Rate Loan, in the amount of such draft. The Issuing Bank
shall give prompt notice (and the Issuing Bank will use its commercially reasonable efforts
to deliver such notice within one (1) Business Day) to the Borrower and the Administrative
Agent of each drawing under any Letter of Credit issued by it. Upon written demand by the
Issuing Bank, with a copy of such demand to the Administrative Agent, each Lender shall pay
to the Administrative Agent such Lender’s Applicable Revolving Credit Percentage of such
outstanding Letter of Credit Loan, by making available for the account of its Applicable
Lending Office to the Administrative Agent for the account of the Issuing Bank, by deposit
to the Administrative Agent’s Account, in same day funds, an amount equal to the portion of
the outstanding principal amount of such Letter of Credit Loan to be funded by such Lender.

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Promptly after receipt thereof, the Administrative Agent shall transfer such funds to the
Issuing Bank. Each Lender agrees to fund its Applicable Revolving Credit Percentage of such
outstanding Letter of Credit Loan on (i) the Business Day on which demand therefor is made
by the Issuing Bank, provided that notice of such demand is given not later than
11:00 A.M. (New York City time) on such Business Day, or (ii) the first
(1st) Business Day next succeeding such demand if notice of such demand is given
after such time. If and to the extent that any Lender shall not have so made the amount of
such Letter of Credit Loan available to the Administrative Agent, such Lender agrees to pay
to the Administrative Agent forthwith on demand such amount together with interest thereon,
for each day from the date of demand by the Issuing Bank until the date such amount is paid
to the Administrative Agent, at the Federal Funds Rate for its account or the account of the
Issuing Bank, as applicable. If such Lender shall pay to the Administrative Agent such
amount for the account of the Issuing Bank on any Business Day, such amount so paid in
respect of principal shall constitute a Letter of Credit Loan made by such Lender on such
Business Day for purposes of this Agreement, and the outstanding principal amount of the
Letter of Credit Loan made by the Issuing Bank shall be reduced by such amount on such
Business Day.

     (ii) The Lenders’ obligations to make such payments to the applicable Issuing Bank
under this paragraph (b), and the applicable Issuing Bank’s right to receive the same, shall
be absolute and unconditional and shall not be affected by any circumstance whatsoever, the
financial condition of the Borrower (or any other account party), the existence of any
Default, the failure of any of the conditions set forth in Article IV to be satisfied, or
the termination of the Commitments. Each such payment to the applicable Issuing Bank shall
be made without any offset, abatement, withholding or reduction whatsoever.

     (c) The Issuing Bank shall furnish (i) to the Administrative Agent on the first
(1st) Business Day of each month a written report summarizing issuance and
expiration dates of Letters of Credit issued by it during the preceding month and drawings
during such month under all Letters of Credit and (ii) to the Administrative Agent and each
Lender on the first (1st) Business Day of each calendar quarter a written report
setting forth the average daily aggregate Available Amount during the preceding calendar
quarter of all Letters of Credit issued by it.

     (d) The failure of any Lender to make the Letter of Credit Loan to be made by it on the
date specified in Section 2.19(b) shall not relieve any other Lender of its obligation
hereunder to make its Letter of Credit Loan on such date, but no Lender shall be responsible
for the failure of any other Lender to make the Letter of Credit Loan to be made by such
other Lender on such date.

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     (e) Obligations Absolute. The obligations of the Borrower under this Agreement, any
Letter of Credit Agreement and any other agreement or instrument relating to any Letter of
Credit (and the obligations of the Lenders to purchase portions of Letter of Credit Loans
pursuant to paragraph (b) above) shall be unconditional and irrevocable, and shall be paid
strictly in accordance with the terms of this Agreement,
such Letter of Credit Agreement and such other agreement or instrument under all
circumstances, including, without limitation, the following circumstances (it being
understood that any such payment by the Borrower is without prejudice to, and does not
constitute a waiver of, any rights the Borrower might have or might acquire as a result of
the payment by the Issuing Bank or the Lenders of any draft or the reimbursement by the
Borrower thereof):

     (i) any lack of validity or enforceability of this Agreement, any Letter of Credit
Agreement, any Letter of Credit or any other agreement or instrument relating thereto (this
Agreement and all of the other foregoing being, collectively, the “L/C Related Documents”);

     (ii) any change in the time, manner or place of payment of, or in any other term of,
all or any of the obligations of the Borrower in respect of any L/C Related Document or any
other amendment or waiver of or any consent to departure from all or any of the L/C Related
Documents;

     (iii) the existence of any claim, set off, defense or other right that the Borrower may
have at any time against any beneficiary or any transferee of a Letter of Credit (or any
Persons for whom any such beneficiary or any such transferee may be acting), the Issuing
Bank or any other Person, whether in connection with the transactions contemplated by the
L/C Related Documents or any unrelated transaction;

     (iv) any statement or any other document presented under a Letter of Credit proving to
be forged, fraudulent, invalid or insufficient in any respect or any statement therein being
untrue or inaccurate in any respect;

     (v) payment by the Issuing Bank under a Letter of Credit against presentation of a
draft or certificate that does not strictly comply with the terms of such Letter of Credit;
or

     (vi) any other circumstance or happening whatsoever, whether or not similar to any of
the foregoing, including, without limitation, any other circumstance that might otherwise
constitute a defense available to, or a discharge of, the Borrower.

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ARTICLE III

TAXES, YIELD PROTECTION AND ILLEGALITY

          Section 3.01 Taxes.

          (a) Payments Free of Taxes. Any and all payments by or on account of any obligation of the
Borrower hereunder or under any other Loan Document shall be made free and clear of and without
reduction or withholding for any Indemnified Taxes or Other Taxes, provided that if the Borrower
shall be required by applicable law to deduct any Indemnified Taxes (including any Other Taxes)
from such payments, then (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 3.01) the Administrative Agent or Lender, as the case may be, receives an amount equal to
the sum it would have received had no such deductions been made, (ii) the Borrower shall make such
deductions and (iii) the Borrower shall timely pay the full amount deducted to the relevant
Governmental Entity in accordance with applicable law.

          (b) Payment of Other Taxes by the Borrower. Without limiting Section 3.01(a), the Borrower
shall timely pay any Other Taxes to the relevant Governmental Entity in accordance with applicable
law.

          (c) Indemnification by the Borrower. The Borrower shall indemnify the Administrative Agent
and each Lender, within ten (10) days after demand therefor, for the full amount of any Indemnified
Taxes or Other Taxes (including Taxes imposed or asserted on or attributable to amounts payable
under this Section 3.01) paid by the Administrative Agent or such Lender, as the case may be, and
any penalties, interest and reasonable expenses arising therefrom or with respect thereto, whether
or not such Indemnified Taxes or Other Taxes were correctly or legally imposed or asserted by the
relevant Governmental Entity. A certificate as to the amount of such payment or liability
delivered to the Borrower by a Lender (with a copy to the Administrative Agent), or by the
Administrative Agent on its own behalf or on behalf of a Lender, shall be conclusive absent
manifest error.

          (d) Evidence of Payments. As soon as practicable after any payment of Indemnified Taxes or
Other Taxes by the Borrower to a Governmental Entity, the Borrower shall deliver to the
Administrative Agent the original or a certified copy of a receipt issued by such Governmental
Entity evidencing such payment, a copy of the return reporting such payment or other evidence of
such payment reasonably satisfactory to the Administrative Agent.

          (e) Status of Lenders. Any Foreign Lender that is entitled to an exemption from or reduction
of withholding tax under the law of the jurisdiction in which the Borrower is resident for tax
purposes, or any treaty to which such jurisdiction is a party, with respect to payments hereunder
or under any other Loan Document shall deliver to the Borrower (with a

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copy to the Administrative Agent), on or prior to the Closing Date, or in the case of a Lender
that is an assignee or transferee of an interest under this Agreement pursuant to Section 10.06(b)
(unless the respective Lender was already a Lender hereunder immediately prior to such assignment
or transfer), on the date of such assignment or transfer to such Lender, 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 of withholding. In addition, any Lender, if requested by
the Borrower or the Administrative Agent, shall deliver such other documentation prescribed by
applicable law or reasonably requested by the Borrower or the Administrative Agent as will enable
the Borrower or the Administrative Agent to determine whether or not such Lender is subject to
backup withholding or information reporting requirements.

Without limiting the generality of the foregoing, in the event that the Borrower is resident for
tax purposes in the United States, any Foreign Lender shall deliver to the Borrower and the
Administrative Agent (in such number of copies as shall be requested by the recipient) on or prior
to the Closing Date, or in the case of a Foreign Lender that is an assignee or transferee of an
interest under this Agreement pursuant to Section 10.06(b) (unless the respective Foreign Lender
was already a Foreign Lender hereunder immediately prior to such assignment or transfer), on the
date of such assignment or transfer to such Foreign Lender (and from time to time thereafter upon
the request of the Borrower or the Administrative Agent), whichever of the following is applicable:

     (i) duly and validly completed copies of Internal Revenue Service Form W-8BEN claiming
eligibility for benefits of an income tax treaty to which the United States is a party,

     (ii) duly and validly completed copies of Internal Revenue Service Form W-8ECI,

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

     (iv) any other form prescribed by applicable law as a basis for claiming exemption from
or a reduction in United States Federal withholding tax duly and validly completed together
with such supplementary documentation as may be prescribed by applicable law to permit the
Borrower to determine the withholding or deduction required to be made.

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In addition, each Lender agrees that from time to time after the Closing Date provided there has
not been a Change in Law that makes it unable to do so, when a lapse in time or change in
circumstances renders the previous certification obsolete or inaccurate in any material respect, it
will deliver to the Borrower new duly completed original signed copies of Internal Revenue Service
Form W-8ECI, Form W-8BEN (with respect to the benefits of any income tax treaty), or Form W-8BEN
(with respect to the portfolio interest exemption) and a Non-Bank Certificate, as the case may be,
and such other forms as may be required in order to confirm or establish the entitlement of such
Lender to a continued exemption from or reduction in United States withholding tax with respect to
payments under this Agreement and any Note. Notwithstanding anything to the contrary contained in
Section 3.01(a), (x) the Borrower shall be entitled, to the extent it is required to do so by law,
to deduct or withhold income or similar taxes imposed by the United States (or any political
subdivision or taxing authority thereof or therein) from interest, fees or other amounts payable
hereunder for the account of any Foreign Lender to the extent that such Lender has not provided to
the Borrower United States Internal Revenue Service Forms that establish a complete exemption from
such deduction or withholding (or, in the case of a Foreign Lender that has established a reduced
rate of withholding, up to such reduced rate) and (y) the Borrower shall not be obligated pursuant
to Section 3.01(a) to gross up payments to be made to a Lender in respect of income or similar
taxes imposed by the United States if such Lender has not provided the Borrower the Internal
Revenue Service Forms required to be provided the Borrower pursuant to this Section 3.01(e).

          (f) Treatment of Certain Refunds. If the Administrative Agent or any Lender determines, in
its sole discretion, that it has received a refund of any Taxes or Other Taxes as to which it has
been indemnified by the Borrower or with respect to which the Borrower has paid additional amounts
pursuant to this Section 3.01, it shall pay to the Borrower an amount equal to such refund (but
only to the extent of indemnity payments made, or additional amounts paid, by the Borrower under
this Section 3.01 with respect to the Taxes or Other Taxes giving rise to such refund), net of all
out-of-pocket expenses of the Administrative Agent or such Lender, as the case may be, and without
interest (other than any interest paid by the relevant Governmental Entity with respect to such
refund), provided that the Borrower, upon the request of the Administrative Agent or such Lender,
agrees to repay the amount paid over to the Borrower (plus any penalties, interest or other charges
imposed by the relevant Governmental Entity) to the Administrative Agent or such Lender in the
event the Administrative Agent or such Lender is required to repay such refund to such Governmental
Entity. This Section 3.01(f) shall not be construed to require the Administrative Agent or any
Lender to make available its tax returns (or any other information relating to its taxes that it
deems confidential) to the Borrower or any other Person.

          (g) Form W-9. Each Lender that is a United States person (as such term is defined in
Section 7701(a)(30) of the Code) for United States federal income tax purposes agrees to provide
the Borrower with two accurate and complete signed original copies of Internal Revenue Service
Form W-9 (Request for Taxpayer Identification Number and Certification), or

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any successor form, on or prior to the date hereof (or on the date such Lender becomes a
Lender hereunder as provided in Section 10.06(b)), when a lapse in time or change in circumstances
renders the previous certification obsolete or inaccurate.

          (h) Alternative Lending Office. If the Borrower is required to pay Lender any additional
amounts pursuant to this Section 3.01, such Lender shall, upon the reasonable request of the
Borrower, use reasonable efforts to select an alternative Lending Office which would not result in
the imposition of such Taxes or Other Taxes; provided, however, that no Lender shall be obligated
to select an alternative Lending Office if such Lender Party determines that (i) as a result of
such selection such Lender would be in violation of an applicable law, regulation, or treaty, or
would incur unreasonable additional costs or expenses or (ii) such selection would be inadvisable
for regulatory reasons or inconsistent with the interests of such Lender.

          Section 3.02 Illegality.

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

          Section 3.03 Inability to Determine Rates.

          If the Required Lenders determine that for any reason in connection with any request for a
Eurodollar Rate Loan or a conversion to or continuation thereof that (a) Dollar deposits are not
being offered to banks in the London interbank eurodollar market for the applicable amount and
Interest Period of such Eurodollar Rate Loan, (b) adequate and reasonable means do not exist for
determining the Eurodollar Rate for any requested Interest Period with respect to a proposed
Eurodollar Rate Loan, or (c) the Eurodollar Rate for any requested Interest Period with respect to
a proposed Eurodollar Rate Loan does not adequately and fairly reflect the cost to such Lenders of
funding such Loan, the Administrative Agent will promptly so notify the

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Borrower and each Lender. Thereafter, the obligation of the Lenders to make or maintain
Eurodollar Rate Loans shall be suspended until the Administrative Agent (upon the instruction of
the Required Lenders) revokes such notice. Upon receipt of such notice, the Borrower may revoke
any pending request for a Borrowing of, conversion to or continuation of Eurodollar Rate Loans or,
failing that, will be deemed to have converted such request into a request for a Borrowing of Base
Rate Loans in the amount specified therein.

          Section 3.04 Increased Costs; Reserves on Eurodollar Rate Loans.

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

     (i) impose, modify or deem applicable any reserve, special deposit, compulsory loan,
insurance charge or similar requirement against assets of, deposits with or for the account
of, or credit extended or participated in by, any Lender (except any reserve requirement
contemplated by Section 3.04(e));

     (ii) change the basis of taxation of payments to such Lender in respect thereof (except
for Indemnified Taxes or Other Taxes covered by Section 3.01 and the imposition of, or any
change in the rate of, any Excluded Tax payable by such Lender); or

     (iii) impose on any Lender or the London interbank market any other condition, cost or
expense affecting this Agreement or Eurodollar Loans made by such Lender;

and the result of any of the foregoing shall be to increase the cost to such Lender of making or
maintaining any Eurodollar Loan (or of maintaining its obligation to make any such Loan) or to
reduce the amount of any sum received or receivable by such Lender hereunder (whether of principal,
interest or any other amount) then, upon request of such Lender, the Borrower will pay to such
Lender, such additional amount or amounts as will compensate such Lender for such additional costs
incurred or reduction suffered.

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

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          (c) Certificates for Reimbursement. A certificate of a Lender setting forth the amount or
amounts necessary to compensate such Lender or its holding company, as the case may be, as
specified in Section 3.04(a) or (b) and delivered to the Borrower shall be conclusive absent
manifest error. The Borrower shall pay such Lender the amount shown as due on any such certificate
within ten (10) days after receipt thereof provided such amounts do not relate to any period which
is more than six (6) months prior to the Borrower’s receipt of such certificate.

          (d) Delay in Requests. Failure or delay on the part of any Lender to demand compensation
pursuant to the foregoing provisions of this Section 3.04 shall not constitute a waiver of such
Lender’s right to demand such compensation, provided that the Borrower shall not be required to
compensate a Lender pursuant to the foregoing provisions of this Section 3.04 for any increased
costs incurred or reductions suffered more than nine months prior to the date that such Lender
notifies the Borrower of the Change in Law giving rise to such increased costs or reductions and of
such Lender’s intention to claim compensation therefor (except that, if the Change in Law giving
rise to such increased costs or reductions is retroactive, then the nine-month period referred to
above shall be extended to include the period of retroactive effect thereof).

          (e) Reserves on Eurodollar Rate Loans. The Borrower shall pay to each Lender, as long as such
Lender shall be required to maintain reserves with respect to liabilities or assets consisting of
or including Eurocurrency funds or deposits (currently known as “Eurocurrency liabilities”),
additional interest on the unpaid principal amount of each Eurodollar Rate Loan equal to the actual
costs of such reserves allocated to such Loan by such Lender (as determined by such Lender in good
faith, which determination shall be conclusive), which shall be due and payable on each date on
which interest is payable on such Loan, provided the Borrower shall have received at least ten
(10) days’ prior notice (with a copy to the Administrative Agent) of such additional interest from
such Lender. If a Lender fails to give notice ten (10) days prior to the relevant Interest Payment
Date, such additional interest shall be due and payable ten (10) days from receipt of such notice.

          Section 3.05 Compensation for Losses.

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

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

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

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

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

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

          Section 3.06 Mitigation Obligations; Replacement of Lenders.

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

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

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          Section 3.07 Survival.

          All of the Borrower’s obligations under this Article III shall survive termination of the
Aggregate Commitments and repayment of all other Obligations hereunder.

ARTICLE IV

CONDITIONS PRECEDENT

          Section 4.01 Conditions of Effectiveness.

          This Agreement shall become effective as of the Closing Date, subject to the following
conditions precedent:

          (a) The Documentation Agent shall have received the following, each of which shall be
originals or telecopies (followed promptly by originals), each properly executed by an Authorized
Officer of the signing Loan Party, and each in form and substance satisfactory to the Documentation
Agent and each of the Lenders:

     (i) executed counterparts of this Agreement;

     (ii) a Revolving Credit Note and/or Term Note, as applicable, executed by the Borrower
in favor of each Lender, as applicable, requesting such Revolving Credit Note and/or Term
Note;

     (iii) counterparts of the Subsidiary Guaranty executed by each Domestic Subsidiary
which is a Material Subsidiary;

     (iv) counterparts of the Pledge Agreements executed by the Borrower together with the
original certificates evidencing the applicable ownership interests (if applicable) along
with appropriate transfer powers executed in blank; and

     (v) the other Loan Documents.

          (b) The Documentation Agent’s receipt of the following, each of which shall be originals or
telecopies (followed promptly by originals) unless otherwise specified, each properly executed by
an Authorized Officer of the signing Loan Party, each dated the Closing Date (or, in the case of
certificates of governmental officials, a recent date before the Closing Date) and each in form and
substance satisfactory to the Documentation Agent and each of the Lenders:

     (i) such certificates of resolutions or other action, incumbency certificates and/or
other certificates of Authorized Officers of each Loan Party as the Documentation Agent may
reasonably require evidencing the identity, authority and capacity of each

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Authorized Officer thereof authorized to act as an Authorized Officer in connection
with this Agreement and the other Loan Documents to which such Loan Party is a party;

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

     (iii) favorable opinions of Buchanan Ingersoll & Rooney PC, special counsel to the Loan
Parties, and Lavery, de Billy, S.E.N.C.R.L./L.L.P, special Quebec counsel to the Loan
Parties as to such matters concerning the Loan Parties and the Loan Documents as the
Documentation Agent and Lenders may reasonably request;

     (iv) a favorable opinion of Chadbourne & Parke MNP, special U.K. counsel to the
Documentation Agent;

     (v) projected consolidated financial statements (including a proforma opening balance
sheet, proforma operating statements and proforma cash flow statements) of the Borrower and
its Subsidiaries for the period from the Closing Date through December 31, 2012, each in
form and substance reasonably acceptable to the Documentation Agent and the Lenders;

     (vi) such other documents as the Documentation Agent any Lender or their counsel may
have reasonably requested; and

     (vii) satisfactory Lien search results with respect to the Borrower and each Guarantor.

          (c) The representations and warranties of the Borrower and each other Loan Party contained in
Article V and in the other Loan Documents shall be true and correct on and as of the Closing Date,
except to the extent that such representations and warranties specifically refer to an earlier
date, in which case they shall be true and correct in all respects as of such earlier date.

          (d) No Default shall exist, or would result from such proposed Borrowing or from the
application of the proceeds thereof.

          (e) All amounts due and payable pursuant to the Co-Lead Arranger Fee Letter shall have been
received by Fifth Third Bank.

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          (f) The Documentation Agent and/or the Administrative Agent, as applicable, shall have
received payment of all amounts due and payable with respect to reasonable out-of-pocket costs,
fees and expenses (including, without limitation, reasonable legal fees and expenses incurred by
its special counsel and special Quebec counsel) incurred through the Closing Date in connection
with the Documentation Agent’s due diligence investigation of the Borrower and its Subsidiaries and
the negotiation of the Loan Documents.

          Section 4.02 Conditions to Borrowing and Issuance of Letters of Credits.

          The obligation of each Lender to honor the notice of Term Loan Borrowing, any Notice of
Revolving Loan Borrowing, the Swing Loan Bank to honor any Notice of Swing Loan Borrowing and of
the Issuing Bank to issue any Letter of Credit is subject to the following conditions precedent:

          (a) The representations and warranties of the Borrower and each other Loan Party contained in
Article V (other than the representation set forth in Section 5.04) shall be true and correct on
and as of the date of the Borrowing or issuance, both before and after giving effect to the
application of proceeds of such Borrowing, except to the extent that such representations and
warranties specifically refer to an earlier date, in which case they shall be true and correct as
of such earlier date.

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

          (c) The Administrative Agent shall have received a Loan Notice in accordance with the
requirements hereof.

          (d) The Administrative Agent and the Documentation Agent, as applicable, shall have received
on or prior to such Borrowing payment of all reasonable out-of-pocket costs, fees and expenses then
owing hereunder, under the Documentation Agent Fee Letter or under the Administrative Agent Fee
Letter, as applicable.

          Section 4.03 Conditions to Commitment Increases.

          Each Commitment Increase requested by the Borrower pursuant to Section 2.17 is subject to the
following conditions precedent:

          (a) The representations and warranties of the Borrower and each other Loan Party contained in
Article V shall be true and correct on and as of the applicable Revolving Credit Increase Date,
both before and after giving effect to such Commitment Increase, except to the extent that such
representations and warranties specifically refer to an earlier date, in which case they shall be
true and correct as of such earlier date.

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          (b) No Default shall exist, or would result from such proposed Commitment Increase.

          (c) The Administrative Agent and the Documentation Agent, as applicable, shall have received
on or prior to such Revolving Credit Increase Date, payment of all reasonable out-of-pocket costs,
fees and expenses then owing hereunder.

ARTICLE V

REPRESENTATIONS AND WARRANTIES

          The Borrower represents and warrants to the Administrative Agent, the Issuing Bank and the
Lenders that:

          Section 5.01 Organization, Good Standing and Qualification.

          The Borrower and each other Loan Party is an entity duly organized, validly existing and in
good standing under the laws of its respective jurisdiction of organization and has all requisite
corporate, partnership or limited liability power and authority to own and operate its material
properties and assets and to carry on its business as currently conducted in all material respects
and is qualified to do business and is in good standing as a foreign entity in each jurisdiction
where the ownership or operation of its properties and assets or conduct of its business requires
such qualification, except where the failure to be so qualified as a foreign entity or be in good
standing would not be reasonably expected to have, either individually or in the aggregate, a
Material Adverse Effect.

          Section 5.02 Authority.

          Each Loan Party has all requisite power and authority and has taken all action necessary in
order to execute, deliver and perform its obligations under the Loan Documents and to consummate,
on the terms and subject to the conditions thereof, the transactions contemplated thereby; each
Loan Document has been duly executed and delivered by each Loan Party thereto and is a valid and
legally binding agreement of such Loan Party enforceable against such Loan Party in accordance with
its terms, subject to bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium and
similar laws of general applicability relating to or affecting creditors’ rights and to general
equity principles (the “Bankruptcy and Equity Exception”).

          Section 5.03 Governmental Filings; No Violations.

          (a) No notices, reports, registrations or other filings are required to be made by any Loan
Party with, and no consents, registrations, approvals, permits or authorizations required to be
obtained by any Loan Party from, any United States or foreign federal, state, or local governmental
or regulatory authority, agency, commission, body or other governmental

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entity (each a “Governmental Entity”), in connection with the execution and delivery of the
Loan Documents and the consummation by each Loan Party of the transactions contemplated hereby,
except for those notices, reports, registrations or other filings that have been obtained or which
the failure to make or obtain would not be reasonably expected to have, individually or in the
aggregate, a Material Adverse Effect or prevent, materially delay or materially impair the ability
of any Loan Party to perform its obligations under the Loan Documents.

          (b) The execution, delivery and performance of the Loan Documents and the consummation by each
Loan Party of the transactions contemplated hereby will not constitute or result in (i) a breach of
any applicable law or regulation, (ii) a breach or violation of, or a default under, either the
articles of incorporation or by-laws (or comparable governing instruments) of such Loan Party or
(iii) a breach or violation of, a default under, the acceleration of any obligations, the loss of
any right or benefit, or the creation of a lien, pledge, security interest or other encumbrance on
the assets of the Borrower or any Subsidiary of the Borrower other than the Liens described in
clause (l) or (m) of the definition of Permitted Liens (with or without notice, lapse of time or
both) pursuant to, any agreement, lease, contract, note, mortgage, indenture, arrangement or other
obligation not otherwise terminable by the other party thereto on ninety (90) days or less notice
(“Contracts”) binding upon the Borrower or any Subsidiary of the Borrower or any Law or
governmental or non-governmental permit or license to which the Borrower or any of its Subsidiaries
is subject.

          Section 5.04 Financial Statements.

          The Borrower has furnished to the Lenders (a) the Audited Financial Statements and (b) the
unaudited consolidated financial statements of the Borrower and its Subsidiaries for the period
ended June 30, 2008 (collectively the “Financial Statements”). Each of the Financial Statements
(i) were prepared in accordance with GAAP consistently applied throughout the period covered
thereby, except as otherwise expressly noted therein and (ii) fairly present the financial
condition of the Borrower and its respective Subsidiaries as of the date thereof and their results
of operations for the period covered thereby in accordance with GAAP consistently applied
throughout the period covered thereby, except as otherwise expressly noted therein and, in the case
of such unaudited statements, except for absence of footnotes and normal year-end audit
adjustments.

          Section 5.05 Disclosure.

          No written information, exhibit or report furnished by or on behalf of the Borrower to the
Administrative Agent or any Lender in connection with the negotiation and syndication of this
Agreement or pursuant to the terms of this Agreement contained, as of the respective dates thereof,
any untrue statement of a material fact or omitted to state a material fact necessary to make the
statements made therein, taken as a whole, not misleading.

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          Section 5.06 Material Adverse Change.

          No event or condition has occurred since the date of the Audited Financial Statements that has
had, or could reasonably be expected to have, a Material Adverse Change.

          Section 5.07 Litigation.

          Except as set forth on Schedule 5.07, there are no civil, criminal or administrative
actions, litigation, suits, claims, hearings, investigations, reviews or proceedings (collectively,
“Litigation Claims”), pending or, to the knowledge of the Borrower, threatened against the Borrower
or any of its Subsidiaries, which could reasonably expected to have, either individually or in the
aggregate, a Material Adverse Effect or that could reasonably be expected to materially and
adversely affect the legality, validity or enforceability of the Loan Documents. There are no
material SEC inquiries or investigations, other material governmental inquiries or investigations
or material internal investigations pending, or to the knowledge of the Borrower, threatened, in
each case regarding any accounting practices of the Borrower or any of its Subsidiaries or any
malfeasance by any director or executive officer of the Borrower or any of its Subsidiaries.

          Section 5.08 Employee Benefits.

          (a) All Compensation and Benefit Plans of the Borrower and each of its Subsidiaries, to the
extent subject to ERISA and the Code, are in compliance in all material respects with the
applicable provisions of ERISA, the Code and any other applicable Law. Each Compensation and
Benefit Plan of the Borrower and each of its Subsidiaries that is an “employee pension benefit
plan” within the meaning of Section 3(2) of ERISA (a “Pension Plan”) and that is intended to be
qualified under Section 401(a) of the Code has received a favorable determination letter (or
opinion letter, if applicable) from the IRS, and nothing has occurred, whether by action or failure
to act, that would reasonably be expected to cause the loss of such qualification or that would
reasonably be expected to result in penalties or fines to the Borrower or any of its Subsidiaries
related to such loss of qualification. There is no material pending or, to the knowledge of the
Borrower, threatened litigation or other governmental proceeding relating to any of the
Compensation and Benefit Plans of the Borrower and each of its Subsidiaries. Neither the Borrower
nor any of its Subsidiaries has engaged in a transaction with respect to any Compensation and
Benefit Plan that, assuming the taxable period of such transaction expired as of the date hereof,
would subject the Borrower or any of its Subsidiaries to a material tax or penalty imposed by
either Section 4975 of the Code or Section 502(i) of ERISA.

          (b) No ERISA Event has occurred or is reasonably expected to occur.

          (c) All contributions (and premium payments in respect of) required to be made under the terms
of any Compensation and Benefit Plan of the Borrower and its Subsidiaries or applicable Law subject
to United States law have been timely made or have been

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reflected on the most recent consolidated balance sheet filed or incorporated by reference in
the Company Reports. Neither the Borrower nor any of its Subsidiaries has provided, or is required
to provide, security to any Pension Plan subject to United States law or to any single-employer
plan of an ERISA Affiliate pursuant to Section 401(a)(29) of the Code.

          (d) Except as disclosed in the Borrower’s 10K and 10Q filings with the SEC, neither the
Borrower nor its Subsidiaries has any obligations for, or liabilities with respect to, retiree
health and life benefits under any Compensation and Benefit Plan of the Borrower and its
Subsidiaries subject to United States law, except for benefits required to be provided under
Section 4980B of the Code or any other applicable state law requiring continuation of health
coverage. The total projected liabilities of the Borrower and Subsidiaries retiree health and life
benefits, as disclosed in the Borrower’s 10K and 10Q filings with the SEC, are not reasonably
expected to result in a Material Adverse Effect.

          (e) Neither the negotiation and execution of Loan Documents nor the consummation of the
transactions contemplated hereby will (either alone or upon the occurrence of any additional or
subsequent events) constitute an event under any Compensation and Benefit Plan of the Borrower and
its Subsidiaries that will or may result in any payment (whether of severance pay or otherwise),
acceleration of payment, forgiveness of indebtedness, vesting, distribution, increase in benefits
or obligation to fund benefits with respect to any employee or former employee of the Borrower or
any of its Subsidiaries.

          (f) Neither the Borrower nor any of its Subsidiaries has or could reasonably be expected to
have any material liabilities or obligations arising out of a failure to operate any Compensation
and Benefit Plan in good faith compliance with Code Section 409A since January 1, 2006.

          (g) With respect to each Compensation and Benefit Plan of the Borrower and its Subsidiaries
not subject to United States law (a “Company Foreign Benefit Plan”): (i) each Company Foreign
Benefit Plan is in compliance with applicable Law; (ii) each Company Foreign Benefit Plan required
to be registered with a regulatory agency or authority has been registered and has been maintained
in good standing with such agency or authority, and (C) the fair market value of the assets of each
Company Foreign Benefit Plan is sufficient to provide for the accrued benefit obligations with
respect to all current and former participants in such plan according to the actuarial assumptions
and valuations most recently used to determine employer contributions to such Company Foreign
Benefit Plan.

          Section 5.09 Compliance with Laws.

          The Borrower and its Subsidiaries are in compliance in all material respects with all
applicable laws, rules, regulations and orders (other than Environmental Laws which are

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addressed in Section 5.10) except where the failure to comply would not be reasonably expected
to have, either individually or in the aggregate, a Material Adverse Effect.

          Section 5.10 Environmental Matters.

          Except for such matters that would not be reasonably expected to cause, either individually or
in the aggregate, a Material Adverse Effect: (i) the operations of the Borrower and its
Subsidiaries are and have been in compliance with all applicable Environmental Laws; (ii) each of
the Borrower and its Subsidiaries possesses and maintains in effect all environmental permits,
licenses, authorizations and approvals required under applicable Environmental Laws with respect to
the properties and business of the Borrower and its Subsidiaries; (iii) neither the Borrower nor
any of its Subsidiaries has received any written environmental claim, notice or request for
information concerning any violation or alleged violation of any applicable Environmental Law, nor,
to the Borrower’s knowledge, is there any existing factual or legal basis for any such claim,
notice or request for information; (iv) neither the Borrower nor any of its Subsidiaries has any
knowledge of a release or threat of release of any Hazardous Substances in violation of any
Environmental Law which would reasonably be expected to result in liability to the Borrower or any
of its Subsidiaries at any of its Subsidiaries’ current or former properties or at any other
property arising from its or any of its Subsidiaries’ current or former operations; (v) to the
Borrower’s knowledge there are no writs, injunctions, decrees, orders or judgments outstanding, or
any actions, suits or proceedings pending relating to compliance by the Borrower or any of its
Subsidiaries with any environmental permits, licenses, authorizations and approvals required under
applicable Environmental Laws or liability of the Borrower or any of its Subsidiaries under any
applicable Environmental Law; and (vi) to the Borrower’s knowledge no Lien has been placed upon any
of the Borrower’s or its Subsidiaries’ properties (whether owned, leased or managed) under any
Environmental Law.

          Notwithstanding any other provision of this Agreement to the contrary (including, but not
limited to, Section 5.09), the representations and warranties of the Borrower in this Section 5.10
constitute the sole representations and warranties of the Borrower with respect to any
Environmental Law or Hazardous Substance.

          Section 5.11 Payment of Taxes.

          The Borrower and each of its Subsidiaries has filed or caused to be filed all Federal and
other material tax returns that are required to be filed and has paid all taxes shown to be due and
payable on said returns or on any assessments made against it or any of its property and all other
taxes, fees or other charges imposed on it or any of its property by any governmental authority
(other than any the amount or validity of which are currently being contested in good faith by
appropriate proceedings and with respect to which reserves in conformity with GAAP have been
provided on the books of the Borrower or such Subsidiary).

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No tax Lien has been filed and, to the knowledge of the Borrower, no claim is being asserted,
with respect to any such tax, fee or other charge.

          Section 5.12 Intellectual Property.

          (a) The Borrower and each of its Subsidiaries owns, or is licensed or otherwise possesses
sufficient legally enforceable rights to use and enforce all Intellectual Property Rights, except
for any such failures to own, be licensed, possess or enforce that, individually or in the
aggregate, would not be reasonably expected to have a Material Adverse Effect.

          (b) Except for such matters that, individually or in the aggregate, would not be reasonably
expected to have a Material Adverse Effect, to the Borrower’s knowledge, the use of any
Intellectual Property Rights by the Borrower or its Subsidiaries does not conflict with, infringe
upon, violate or interfere with, or constitute an appropriation of any right, title, interest or
goodwill, including any valid patent, trademark, trade name, service mark or copyright or other
intellectual property right of any other Person.

          Section 5.13 Title to Properties.

          The Borrower and each of its Subsidiaries has good and valid title to, or valid leasehold
interests in, all of its material properties and assets, free and clear of all Liens other than
Permitted Liens and such Liens that, individually or in the aggregate, would not be reasonably
expected to have a Material Adverse Effect.

          Section 5.14 Material Contracts.

          Neither the Borrower nor any of its Subsidiaries has breached, or received in writing any
claim that it has breached any of the terms and conditions of any Contract to which it is a party
or by which it is bound in such a manner as, individually or in the aggregate, would be reasonably
expected to have a Material Adverse Effect. Each Contract to which the Borrower or any of its
Subsidiaries is a party or by which it is bound that has not expired or terminated by its terms is
valid and in full force and effect, binding upon the Borrower or such Subsidiary in accordance with
its terms, subject to the Bankruptcy and Equity Exception, except where the failure to be valid and
in full force and effect or not binding, individually or in the aggregate, would not be reasonably
expected to have a Material Adverse Effect.

          Section 5.15 Insurance.

          The Borrower maintains for itself and its Subsidiaries insurance policies covering the assets,
business interruption, equipment, properties, employees, directors and officers and liability
claims, and such other forms of insurance in such amounts, with such deductibles and

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against such risks and losses as, in its judgment, are reasonable for the business and assets
of the Borrower and its Subsidiaries. All such insurance policies are in full force and effect, all
premiums due and payable thereon have been paid, and the Borrower and its Subsidiaries are
otherwise in compliance with the terms and conditions of such policies and bonds except for
failures to so comply that, individually or in the aggregate, would not be reasonably expected to
have a Material Adverse Effect.

          Section 5.16 Federal Reserve Regulations.

          No Loan Party nor any Subsidiary is engaged, directly or indirectly, principally, or as one of
its important activities, in the business of extending, or arranging for the extension of, credit
for the purpose of purchasing or carrying Margin Stock. No part of the proceeds of any Loan will
be used in a manner which would violate, or result in a violation of, Regulation T, U or X of the
FRB. Neither the making of any Loan hereunder nor the use of the proceeds thereof will violate or
be inconsistent with the provisions of Regulations T, U or X.

          Section 5.17 Investment Company.

          No Loan Party nor any Subsidiary is, or after giving effect to any Borrowing will be, an
“investment company” or a company “controlled” by an “investment company” within the meaning of the
Investment Company Act of 1940, as amended.

          Section 5.18 Subsidiaries.

          Schedule 5.18, as updated from time to time by the Borrower pursuant to Section 6.09,
sets forth the name and jurisdiction of formation of each Subsidiary and the percentage of each
class of capital stock or other ownership interest owned by the Borrower or any Subsidiary as of
the end of the most recently ended fiscal quarter. The Subsidiaries executing a Subsidiary
Guaranty as of the Closing Date constitute all the Material Subsidiaries of the Borrower which are
Domestic Subsidiaries. Sixty-five percent (65%) of the capital stock of each Material Subsidiary
which is a Foreign Subsidiary of the Borrower as of the Closing Date has been pledged to the
Administrative Agent pursuant to a Pledge Agreement, or in the case of any Material Subsidiary
which is a Foreign Subsidiary but is owned by a Foreign Subsidiary, sixty-five percent (65%) of the
capital stock of the first-tier Foreign Subsidiary which owns such Material Subsidiary which is a
Foreign Subsidiary has been pledged to the Administrative Agent.

          Section 5.19 Solvency.

          Each Loan Party is, individually and together with its Subsidiaries, Solvent.

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          Section 5.20 Pledged Equity.

          The Pledge Agreements create legal and valid, perfected first priority Liens on the Pledged
Equity.

          Section 5.21 Pari Passu.

          The obligations of the Borrower under this Agreement and the Notes rank at least pari passu in
priority of payment with all other Debt of the Borrower, except Debt of the Borrower secured by
Permitted Liens. The obligations of a Guarantor under a Subsidiary Guaranty executed by such
Guarantor rank at least pari passu in priority of payment with all other Debt of such Guarantor,
except Debt of such Guarantor secured by Permitted Liens.

ARTICLE VI

AFFIRMATIVE COVENANTS

          From and after the Closing Date, so long as any Lender shall have any Commitment hereunder,
any Letter of Credit shall remain outstanding or any Loan or other Obligation (other than
contingent indemnification obligations with respect to unasserted claims) hereunder shall remain
unpaid or unsatisfied, the Borrower shall:

          Section 6.01 Financial Reporting.

          Furnish to the Administrative Agent (for distribution to each Lender):

          (a) As soon as practicable and in any event within ninety (90) days after the close of each
fiscal year, the consolidated statements of income, retained earnings and cash flow of the Borrower
and its Subsidiaries for such fiscal year, and the related consolidated balance sheet of the
Borrower and its Subsidiaries as at the end of such fiscal year, setting forth in each case in
comparative form the corresponding figures for the preceding fiscal year, accompanied by an opinion
of certified public accountants of recognized standing which are reasonably satisfactory to the
Administrative Agent, which opinion shall not be limited as to scope or contain a “going concern”
or like qualification or exception and shall state that such financial statements fairly present
the consolidated financial condition and results of operations, as the case may be, of the Borrower
and its Subsidiaries in accordance with GAAP as at the end of, and for, such fiscal year.

          (b) As soon as practicable and in any event within sixty (60) days after the close of each of
the first three fiscal quarters of each fiscal year, the consolidated unaudited balance sheets of
the Borrower and its Subsidiaries as at the close of each such period and related consolidated
statements of income, retained earnings and cash flow for the period from the beginning of such
fiscal year to the end of such fiscal Quarter, in each case setting forth in

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comparative form results of the corresponding period in the preceding fiscal year, all
certified by a Financial Officer of the Borrower as fairly presenting the consolidated financial
condition and results of operations of the Borrower and its Subsidiaries for such period in
accordance with GAAP (subject to normal year-end adjustments and the absence of footnotes).

          (c) Together with the financial statements required by Sections 6.01(a) and (b), a compliance
certificate in the form of Exhibit I signed by a Financial Officer of the Borrower showing
the calculations necessary to determine compliance with Section 7.04 of this Agreement and stating
that no Default has occurred and is continuing, or if a Default has occurred and is continuing,
stating the nature and status thereof and the details of any action taken or proposed to be taken
with respect thereto.

          (d) As soon as possible and in any event within ten (10) days after an executive officer of
the Borrower knows that any ERISA Event has occurred that, when taken together with all other ERISA
Events that have occurred, could result in a material liability to the Loan Parties, a statement,
signed by a Financial Officer of the Borrower, describing such ERISA Event and the action which the
Borrower proposes to take with respect thereto.

          (e) Promptly upon the filing thereof, copies of all filings and annual, quarterly, monthly or
other regular reports which the Borrower or any Subsidiary files with the SEC.

          (f) Subject to Section 10.07, such other information regarding the operations, business
affairs and financial condition of a Loan Party or Subsidiary or compliance with this Agreement as
the Administrative Agent or any Lender may from time to time reasonably request.

Information required to be delivered pursuant to Sections 6.01(a) and (b) and Section 6.01(e) shall
be deemed to have been delivered on the date on which the Borrower provides written notice to the
Lenders that such information has been posted on the Borrower’s website on the Internet at
http://www.rtiintl.com/ or at http://www.sec.gov; provided that such notice may be included in the
certificates delivered pursuant to Section 6.01(c); provided further that the Borrower shall
deliver paper copies of the information referred to in Section 6.01(d) and that, if any Lender
requests delivery thereof, the Borrower shall deliver to such Lender paper copies of the
information referred to in Sections 6.01(a) and (b) and Section 6.01(e) within five (5) Business
Days after delivery is otherwise required hereunder.

          The Borrower hereby acknowledges that (a) the Administrative Agent and/or the Documentation
Agent may make available to the Lenders materials or information provided by or on behalf of the
Borrower hereunder (collectively, “Borrower Materials”) by posting the Borrower Materials on
IntraLinks or another similar electronic system (the “Platform”) and (b) certain of the Lenders may
be “public-side” Lenders (i.e., Lenders that do not wish to receive

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material non-public information with respect to the Borrower or its securities) (each, a
“Public Lender”). The Borrower hereby agrees that (w) all Borrower Materials that are to be made
available to Public Lenders shall be clearly and conspicuously marked “PUBLIC” which, at a minimum,
shall mean that the word “PUBLIC” shall appear prominently on the first page thereof; (x) by
marking Borrower Materials “PUBLIC,” the Borrower shall be deemed to have authorized the
Administrative Agent, the Documentation Agent and the Lenders to treat such Borrower Materials as
either publicly available information or not material information (although it may be sensitive and
proprietary) with respect to the Borrower or its securities for purposes of United States federal
and state securities laws; (y) all Borrower Materials marked “PUBLIC” are permitted to be made
available through a portion of the Platform designated “Public Investor;” and (z) the
Administrative Agent and the Documentation Agent shall be entitled to treat any Borrower Materials
that are not marked “PUBLIC” as being suitable only for posting on a portion of the Platform not
designated “Public Investor.”

          Section 6.02 Notices.

          Notify the Administrative Agent and each Lender promptly, but in any event not later than five
(5) Business Days (unless otherwise indicated below) after an executive officer of the Borrower
obtains knowledge thereof, of the following:

          (a) The occurrence of any Default if such Default is continuing.

          (b) The occurrence of any other development, financial or otherwise, relating specifically to
the Borrower or any Subsidiaries (and not of a general economic or political nature) which could
reasonably be expected to have a Material Adverse Effect.

          (c) Any judicial or administrative order limiting or controlling the business of the Borrower
or any of its Subsidiaries (and not the industry in which the Borrower or such Subsidiary is
engaged generally) which has been issued or adopted which could reasonably be expected to have a
Material Adverse Effect.

          (d) The commencement of any litigation which could reasonably be expected to result in a
Material Adverse Effect.

          Section 6.03 Use of Proceeds.

          Use the proceeds of the Loans only to pay fees and expenses related to the closing of the
Loans, this Agreement and the other Loan Documents, to fund capital expenditures and for general
corporate purposes. No part of the proceeds of any Loan will be used, whether directly or
indirectly, for any purpose that entails a violation of Regulation T, U or Regulation X of the
Regulations of the FRB.

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          Section 6.04 Preservation of Existence.

          Except as permitted under Section 7.05, maintain and cause each Material Subsidiary to
maintain its corporate, partnership or limited liability company existence and its good standing in
the state of its formation and in each other jurisdiction in which its ownership or lease of
property or the nature of its businesses make such qualification necessary (except for such
jurisdictions in which such failure to be so qualified individually or in the aggregate would not
result in a Material Adverse Effect).

          Section 6.05 Insurance.

          Maintain, and cause each Subsidiary to maintain, with financially responsible insurance
companies (or through self insurance to the extent consistent with prudent business practice)
insurance in such amounts and against such risks and losses as are consistent with the insurance
maintained by the Borrower and its Subsidiaries in the ordinary course of business consistent with
past practice.

          Section 6.06 Compliance with Laws.

          Comply, and cause each of its Subsidiaries to comply, in all material respects with the
requirements of all Laws and all orders, writs, injunctions and decrees applicable to which it may
be subject, the failure to comply with which could reasonably be expected to have a Material
Adverse Effect.

          Section 6.07 Access.

          Upon reasonable prior notice, and except as may otherwise be required or restricted by
applicable Law, afford, and shall cause each of its Subsidiaries to afford, the officers,
employees, counsel, accountants and other authorized representatives of the Administrative Agent
and each Lender reasonable access, during normal business hours, to its executive officers, to its
properties, books, contracts and records and furnish promptly all information concerning its
business, properties, personnel and Litigation Claims as may reasonably be requested but only to
the extent such access does not unreasonably interfere with the business or operations of the
Borrower or its Subsidiaries; provided that no investigation pursuant to this Section 6.07 shall
affect or be deemed to modify any representation or warranty made by the Borrower in this
Agreement; provided that neither the Borrower nor any of its Subsidiaries shall be required to
provide information (a) in breach of applicable Law, (b) that is subject to confidentiality
obligations or (c) where disclosure would affect attorney-client privilege. All requests for
information made pursuant to this Section 6.07 shall be directed to an executive officer of the
Borrower or such other Person as may be designated by its executive officers. Each Lender shall
attempt to coordinate such rights with those of the Administrative Agent.

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          Section 6.08 Payment Taxes and Other Obligations.

          Pay its obligations, including Tax liabilities, that if not paid, could reasonably be expected
to result in a Material Adverse Effect before the same shall become delinquent or in default,
except where the validity or amount thereof is being contested in good faith by appropriate
proceedings and the Borrower or such Subsidiary has set aside on its books adequate reserves with
respect thereto in accordance with GAAP.

          Section 6.09 New Material Subsidiaries.

          Cause each Domestic Subsidiary that shall at any time after the Closing Date become a Material
Subsidiary to enter into a Guaranty Supplement no later than thirty (30) days after such Domestic
Subsidiary shall become a Material Subsidiary, as determined at the end of each fiscal quarter of
the Borrower. No later than forty-five (45) days after the Borrower or such Domestic Subsidiary
shall acquire or otherwise own, directly or indirectly, after the Closing Date, any Foreign
Subsidiary which is a Material Subsidiary as determined at the end of each fiscal quarter of the
Borrower, enter into, or cause such Domestic Subsidiary to enter into, a Pledge Agreement and
deliver an opinion of counsel reasonably satisfactory to the Documentation Agent in the
jurisdiction of such Foreign Subsidiary whose ownership interests are subject to such Pledge
Agreement with respect to the due authorization, enforceability and perfection of such pledge.
Provide by the end of each fiscal quarter, an updated Schedule 5.18 to the extent necessary
to maintain the accuracy of such Schedule.

          Section 6.10 Maintenance of Properties and Leases.

          Maintain in good repair, working order and condition (ordinary wear and tear excepted) in
accordance with the general practice of other businesses of similar character and size, all of
those properties useful or necessary to their respective businesses, and from time to time, the
Borrower will make or cause to be made all appropriate repairs, renewals or replacements thereof.

          Section 6.11 Keeping of Records and Books of Account.

          Maintain and keep proper books of record and accounts which enable the Borrower to issue
financial statements in accordance with GAAP and as otherwise required by applicable law of any
Governmental Entity having jurisdiction over Borrower and its Subsidiaries, and in which full, true
and correct entries shall be made in all material respects of all their respective dealings and
business and financial affairs.

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          Section 6.12 Further Assurances.

          Upon the request of the Administrative Agent, each Loan Party shall, from time to time, at its
expense, do such other acts and things as the Administrative Agent in its reasonable discretion may
deem necessary or advisable from time to time in order to exercise and enforce its rights and
remedies hereunder.

          Section 6.13 Transactions With Affiliates.

          Conduct, and cause each of its Subsidiaries to conduct, all transactions with any of its
respective Affiliates upon fair and reasonable terms no less favorable than the Borrower or
Subsidiary could obtain or could be entitled to in a comparable arm’s-length transaction with a
Person which is not an Affiliate.

ARTICLE VII

NEGATIVE COVENANTS

          From and after the Closing Date, so long as any Lender shall have any Commitment hereunder,
any Letter of Credit shall remain outstanding or any Loan or other Obligation (other than
contingent indemnification obligations with respect to unasserted claims) hereunder shall remain
unpaid or unsatisfied:

          Section 7.01 Debt.

          (a) The Borrower shall not, nor shall it permit any Guarantor to, create, incur, assume or
suffer to exist any Debt other than:

     (i) Debt under the Loan Documents;

     (ii) Debt outstanding on the Closing Date and described on Schedule 7.01(a)
(including any extensions or renewals thereof provided that there is no increase in the
principal amount thereof);

     (iii) Debt in respect of any Hedging Agreement with a Lender or any Affiliate of a
Lender entered into in the ordinary course of business to manage foreign currency or
interest rate risk for the Borrower or any Loan Party;

     (iv) Debt scheduled to mature after the Revolving Credit Maturity Date and the Term
Loan Maturity Date;

     (v) Debt of the Borrower to any Subsidiary or Debt of any Subsidiary to the Borrower or
any other Subsidiary;

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     (vi) Debt (including, without limitation, Capitalized Lease Obligations) secured by
Liens described in clause (h) of the definition of Permitted Liens in an aggregate principal
amount not to exceed Twenty Million and 00/100 Dollars ($20,000,000.00);

     (vii) Debt that is convertible into equity interests of the Borrower, issued either
pursuant to public issuances or private placements, and whether or not maturing prior to or
after the later of the Revolving Credit Maturity Date and the Term Loan Maturity Date;
provided that the holders of such Debt have no right to cause such Debt to be purchased,
redeemed or otherwise repaid (in whole or in part) in cash prior to the Revolving Credit
Maturity Date or the Term Loan Maturity Date.

so long as (x) no Event of Default shall have occurred and be continuing at the time of the
incurrence of such Debt or would result from the incurrence of such Debt and (y) after giving
effect to the incurrence of such Debt, on a pro forma basis as if such incurrence of such Debt had
occurred on the first (1st) day of the twelve-month period ending on the last day of the
Borrower’s most recently completed fiscal quarter, the Borrower shall be in compliance with the
financial covenants set forth in Section 7.04.

          (b) The Borrower shall not permit any of its Subsidiaries that is not a Guarantor, to create,
incur, assume or suffer to exist any Debt other than:

     (i) Debt of such Subsidiary to the Borrower or any other Subsidiary;

     (ii) Debt existing on the Closing Date and described on Schedule 7.01(b)
(including any extensions or renewals thereof provided that there is no increase in the
principal amount thereof and including any additional advances under the Investment Quebec
Facility so long as such advances do not exceed Five Million One Hundred Seventy-Five
Thousand and 00/100 Canadian Dollars (CDN $5,175,000.00)); and

     (iii) Additional Debt in an aggregate principal amount not to exceed five percent (5%)
of Consolidated Net Tangible Assets at any time outstanding;

so long as (x) no Event of Default shall have occurred and be continuing at the time of the
incurrence of such Debt or would result from the incurrence of such Debt and (y) after giving
effect to the incurrence of such Debt, on a pro forma basis as if such incurrence of such Debt had
occurred on the first (1st) day of the twelve-month period ending on the last day of the
Borrower’s most recently completed fiscal quarter, the Borrower shall be in compliance with the
financial covenants set forth in Section 7.04

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          Section 7.02 Liens.

          The Borrower and its Subsidiaries shall not at any time create, incur, assume, or suffer to
exist any Lien on any of their respective property or assets, tangible or intangible, now owned or
hereafter acquired, or agree or become liable to do so, except for Permitted Liens.

          Section 7.03 Fiscal Year; Nature of Business, Accounting Policies.

          The Borrower shall not, nor shall it permit any other Subsidiary to, directly or indirectly:

          (a) Substantively alter the general character of its business from that conducted by such
Person as of the Closing Date; or

          (b) Change its fiscal year to end on any date other than December 31 of each year.

          (c) Except in the ordinary and usual course of business or as may be required by applicable
Law and except to the extent required by GAAP as advised by such party’s regular independent
accountants, change any material accounting principle, practice or method in a manner that is
inconsistent with past practice.

          Section 7.04 Financial Covenants.

          The Borrower shall:

          (a) Leverage Ratio. Not permit as of the last day of any period of four (4) consecutive
fiscal quarters of the Borrower, the ratio of Net Debt to Consolidated EBITDA (the “Leverage
Ratio”) to be greater than 3.25 to 1.00.

          (b) Interest Coverage Ratio. Not permit as of the last day of any period of four (4)
consecutive fiscal quarters of the Borrower the ratio of Consolidated EBITDA to Consolidated
Interest Expense for such 12-month period to be less than 2.00 to 1.00.

          Section 7.05 Liquidations, Mergers and Consolidations.

          The Borrower shall not, and shall not permit any of its Subsidiaries to, dissolve, liquidate
or wind-up its affairs, or become a party to any merger, consolidation or other business
combination, whether accounted for under GAAP as a purchase or a pooling of interests and
regardless of whether the value of the consideration paid or received is comprised of cash, common
or preferred stock or other equity interests, or other assets, or sell, lease, transfer, or
otherwise dispose of all or substantially all of its assets, provided that:

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          (a) any Subsidiary of the Borrower may consolidate with or merge into the Borrower or a
Guarantor;

          (b) any Subsidiary of the Borrower may sell, lease transfer or otherwise dispose of all or
substantially all of its assets (upon voluntary liquidation or otherwise) to the Borrower or a
Guarantor;

          (c) the Borrower or any Subsidiary may consolidate or merge with any Person, provided that
(i) if the Borrower is a party to such merger or consolidation, the Borrower is the surviving
Person, (ii) at the time of the consolidation or merger, no Event of Default shall have occurred
and be continuing or be caused by such consolidation or merger, (iii) after giving effect to such
merger or consolidation, (A) any Domestic Subsidiary which becomes a Material Subsidiary shall
become a Guarantor and (B) the Borrower shall cause to be pledged pursuant to a Pledge Agreement to
the Administrative Agent (x) sixty-five percent (65%) of the ownership interests of any Foreign
Subsidiary which is a Material Subsidiary which is owned directly by the Borrower or any Domestic
Subsidiary, and (y) sixty-five percent (65%) of the ownership interests of any first-tier Foreign
Subsidiary which owns a Foreign Subsidiary which is a Material Subsidiary and deliver a legal
opinion as required under Section 6.09, (iv) the consolidation or merger shall not be contested by
such Person or the holders of its equity securities and shall be approved by such Person’s board of
directors or other governing body and, if the Borrower shall use any portion of the Loans to fund
such consolidation or merger, the Borrower also shall have delivered to the Lenders written
evidence of the approval of the board of directors (or equivalent governing body) of such Person
for such consolidation or merger, and (v) the Borrower shall have provided the Administrative Agent
with a certificate stating that such merger or consolidation will not violate any covenants of this
Agreement.

          Section 7.06 Dispositions of Assets or Subsidiaries.

          Excluding the payment of cash as consideration for assets purchased by, or services rendered
to, the Borrower or any Subsidiary, neither the Borrower nor any of its Subsidiaries shall sell,
convey, assign, lease, or otherwise transfer or dispose of, voluntarily or involuntarily, any of
its properties or assets, tangible or intangible (including but not limited to sale, assignment,
discount or other disposition of receivables, contract rights, chattel paper, equipment or general
intangibles with or without recourse or of capital stock, shares or beneficial interests or
partnership interests in Subsidiaries), except:

          (a) any sale, transfer or disposition of surplus, obsolete or worn out assets of the Borrower
or a Subsidiary;

          (b) any sale, transfer or lease of inventory by the Borrower or any Subsidiary of the Borrower
in the ordinary course of business;

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          (c) any sale, transfer or lease of assets by any Subsidiary of the Borrower to the Borrower or
any other Subsidiary of the Borrower or by the Borrower to any Subsidiary of the Borrower; or

          (d) any sale, transfer or lease of assets, other than those specifically excepted pursuant to
clauses (a) through (c) above, which in any one sale, transfer or lease of assets, or in any number
of sales, transfers or leases of assets occurring (i) in any consecutive twelve month period
involves the sale, transfer or lease of assets having a book value of not more than ten percent
(10%) of the Consolidated Tangible Net Assets and (ii) during the term of this Agreement involves
the sale, transfer, or lease of assets having a book value of not more than twenty percent (20%) of
the Consolidated Tangible Net Assets (in each case, measured with respect to a series of sales,
transfers or leases of assets on the day of the first sale).

          Section 7.07 Dividends and Related Distributions.

          Except in connection with (i) share purchased programs of the Borrower, (ii) employee stock
purchase programs of the Borrower and its Subsidiaries and (iii) any Compensation and Benefit Plan,
the Borrower shall not, and shall not permit any of its Subsidiaries to, make or pay, or agree to
become or remain liable to make or pay, any dividend or other distribution of any nature (whether
in cash, properties, securities or otherwise) on account of or in respect of its shares of capital
stock, partnership interests or limited liability company interests on account of the purchase,
redemption, retirement or acquisition of its shares of capital stock (or warrants, options or
rights therefore), partnership interests or limited liability company interests other than,
directly or indirectly, to the Borrower (each a “Specified Dividend”); provided, however, so long
as no Event of Default or Default shall exist immediately prior to or after giving effect to any
such Specified Dividend, the Borrower and its Subsidiaries may make or pay any such Specified
Dividend (other than any Specified Dividend to any Subsidiary which is not a Guarantor). Except as
set forth on Schedule 7.07, the Borrower shall not permit its Subsidiaries to enter into or
otherwise be bound by any agreement prohibiting or restricting the payment of dividends or
distributions to the Borrower.

          Section 7.08 Changes in Organizational Documents.

          The Borrower shall not, and shall not permit any Loan Party to, amend in any respect its
certificate or articles of incorporation or comparable governing instruments without providing at
least fifteen (15) days prior written notice to the Administrative Agent and the Lenders and, in
the event such change would be materially adverse to the Lenders as determined by the
Administrative Agent in its sole but reasonable discretion, obtaining the prior written consent of
the Required Lenders.

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          Section 7.09 Negative Pledge.

          Except in connection with (i) Capitalized Leases and installment purchase agreements (in each
case, as related to the specific assets financed), and (ii) as set forth in the Credit Agreement
among RTI-Claro, Inc., the Borrower and National City Bank, Canada Branch dated as of December 27,
2006 and the Investment Quebec Facility (in each case, as related to the assets of RTI-Claro,
Inc.), the Borrower shall not, and shall not permit any of its Subsidiaries to, enter into any
agreement with any Person which, in any manner, whether directly or contingently, prohibits,
restricts or limits the rights of the Borrower or any Subsidiary from granting any Lien to the
Administrative Agent or the Lenders.

ARTICLE VIII

EVENTS OF DEFAULT AND REMEDIES

          Section 8.01 Events of Default.

          Any of the following shall constitute an Event of Default:

          (a) Non-Payment. (i) The Borrower shall fail to pay any principal of any Loan when and as the
same shall become due and payable, whether at the due date thereof or at a date fixed for
prepayment thereof or otherwise; or (ii) the Borrower shall fail to pay any interest on any Loan or
any fee or any other amount (other than an amount referred to in clause (i)) payable under this
Agreement, when and as the same shall become due and payable, and such failure shall continue
unremedied for a period of five (5) Business Days; or

          (b) Representations and Warranties. Any representation or warranty made or deemed made by or
on behalf of the Borrower to the Lenders or the Administrative Agent under or in connection with
this Agreement or the Transactions, shall be false in any material respect on the date as of which
made or deemed made; or

          (c) Specific Covenants. The breach by the Borrower or any Subsidiary of any of the terms or
provisions of Sections  6.02, 6.03, 6.04, 6.09 or Article VII or the breach by the Borrower or any
Subsidiary of the terms or provisions of Section 6.01 which breach shall continue for a period of
five (5) Business Days; or

          (d) Other Defaults. The breach by the Borrower (other than breaches specified in
Section 8.01(a), (b) or (c)) or any other Loan Party of any of the terms or provisions of this
Agreement or any other Loan Document which is not remedied within thirty (30) days after the
earlier of (i) the date by which notice of such breach would be required to be given by the
Borrower or such other Loan Party under this Agreement or such other Loan Document and (ii) written
notice from the Administrative Agent or any Lender to the Borrower or other applicable Loan Party;
or

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          (e) Cross-Default. The failure by the Borrower or any Subsidiary to make any payment of
principal or interest under any agreement or agreements under which any Debt aggregating in excess
of Fifty Million and 00/100 Dollars ($50,000,000.00) was created or is governed when due and
payable (beyond any applicable grace period), or the occurrence of any other event or existence of
any other condition, the effect of any of which is to cause, or to permit the holder or holders of
such Debt to cause, such Debt to become due prior to its stated maturity; or any such Debt of the
Borrower or any Subsidiary shall be declared to be due and payable or required to be prepaid (other
than by regularly scheduled payment) prior to the stated maturity thereof; or

          (f) Insolvency Proceedings, Etc. The Borrower or any of its Subsidiaries shall (i) have an
order for relief entered with respect to it under the Federal bankruptcy laws as now or hereafter
in effect, (ii) make an assignment for the benefit of creditors, (iii) apply for, seek, consent to,
or acquiesce in, the appointment of a receiver, custodian, trustee, examiner, liquidator or similar
official for it or its property, (iv) institute any proceeding seeking an order for relief under
the Federal bankruptcy laws as now or hereafter in effect or seeking to adjudicate it as bankrupt
or insolvent, or seeking dissolution, winding up, liquidation, reorganization, rehabilitation,
arrangement, adjustment or composition of it or its debts under any law relating to bankruptcy,
insolvency or reorganization or relief of debtors or fail to file an answer or other pleading
denying the material allegations of any such proceeding filed against it, (v) take any corporate
action to authorize or effect any of the foregoing actions set forth in this Section 8.01(f) or
(vi) become unable to pay, not pay, or admit in writing its inability to pay, its debts generally
as they become due; or

          (g) Proceedings. (i) Without the application, approval or consent of the Borrower or any of
its Subsidiaries, a receiver, trustee, examiner, liquidator, conservator or similar official shall
be appointed for the Borrower or any of its Subsidiaries or its property, or a proceeding described
in Section 8.01(f)(iv) shall be instituted against the Borrower or any of its Subsidiaries and such
appointment continues undischarged or such proceeding continues undismissed or unstayed for a
period of sixty (60) consecutive days; or

          (h) Solvency. The Borrower or any Guarantor ceases to be Solvent or admits in writing its
inability to pay its debts as they mature; or

          (i) Judgments. There is entered against the Borrower or any of its Subsidiaries (i) a final
judgment or order for the payment of money in excess of Ten Million and 00/100 Dollars
($10,000,000.00) (or multiple judgments or orders for the payment of an aggregate amount in excess
of Ten Million and 00/100 Dollars ($10,000,000.00)) which has not been paid, bonded or otherwise
discharged within thirty (30) days after such judgment becomes final, or (ii) any non-monetary
final judgment that has, or could reasonably be expected to have, a Material Adverse Effect which
has not been bonded or discharged within thirty (30) days after

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such judgment becomes final and, in either case, such judgment or order has not been stayed on
appeal or is not otherwise being appropriately contested in good faith; or

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

          (k) Invalidity of Loan Documents. Any material provision of any Loan Document, at any time
after its execution and delivery and for any reason other than as expressly permitted hereunder or
thereunder or satisfaction in full of all the Obligations (other than contingent indemnity
obligations with respect to unasserted claims), ceases to be enforceable or in full force and
effect other than by reason of a breach of this Agreement by a party hereto other than the Loan
Parties; or any Lien granted under the Loan Documents (other than with respect to interests in the
Pledged Equity which are not material to the Pledged Equity taken as a whole) shall cease to be
enforceable and perfected (except as permitted hereby); or any Loan Party contests in any manner in
writing the validity or enforceability of any provision of any Loan Document; or any Loan Party
denies that it has any or further liability or obligation under any Loan Document except by reason
of payment in full of all Obligations (other than contingent indemnity obligations with respect to
unasserted claims), or purports to revoke, terminate or rescind any provision of any Loan Document
except pursuant to the express terms thereof.

          (l) ERISA. Any ERISA Event occurs that results in or is reasonably expected to have a
Material Adverse Effect.

          Section 8.02 Remedies Upon Event of Default.

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

          (a) declare the commitment of each Lender to make Loans to be terminated, whereupon such
commitments and obligation shall be terminated;

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

          (c) exercise on behalf of itself and the Lenders all rights and remedies available to it and
the Lenders under the Loan Documents;

provided, however, that upon the occurrence of an actual or deemed entry of an order for relief
with respect to the Borrower under the Bankruptcy Code of the United States, the obligation of each
Lender to make Loans shall automatically terminate and the unpaid principal amount of all

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outstanding Loans and all interest and other amounts as aforesaid shall automatically become due
and payable without further act of the Administrative Agent or any Lender.

          Section 8.03 Application of Funds.

          After the exercise of remedies provided for in Section 8.02 (or after the Loans have
automatically become immediately due and payable as set forth in the proviso to Section 8.02), any
amounts received on account of the Obligations shall be applied by the Administrative Agent in the
following order:

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

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

Third, to payment of that portion of the Obligations constituting accrued and unpaid interest on
the Loans and other Obligations, ratably among the Lenders in proportion to the respective amounts
described in this clause Third payable to them;

Fourth, to payment of that portion of the Obligations constituting unpaid principal of the Loans,
ratably among the Lenders in proportion to the respective amounts described in this clause Fourth
held by them; and

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

          Section 8.04 Actions in Respect of the Letters of Credit Upon Event of Default; L/C Cash
Collateral Account.

          (a) Upon (i) the occurrence and during the continuance of any Event of Default and (ii) the
declaration by the Lenders that the Loans are, or if the Loans otherwise automatically become, due
and payable pursuant to the provisions of Section 8.01, the Issuing Bank may, irrespective of
whether they are taking any of the actions described in Section 8.01 or otherwise, make demand upon
the Borrower to, and forthwith upon such demand the Borrower will, pay to the Issuing Bank on
behalf of the Lenders in same day funds at the Issuing Bank’s

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office designated in such demand, for deposit in the L/C Cash Collateral Account, an amount
equal to the aggregate Available Amount of all outstanding Letters of Credit issued by the Issuing
Bank. If at any time the Issuing Bank determines that any funds held in the L/C Cash Collateral
Account are subject to any equal or prior right or claim of any Person other than the Issuing Bank
and the Lenders pursuant to this Agreement or that the total amount of such funds is less than the
aggregate Available Amount of all Letters of Credit, the Borrower will, forthwith upon demand by
the Issuing Bank, pay to the Issuing Bank, as additional funds to be deposited and held in the L/C
Cash Collateral Account, an amount equal to the excess of (1) such aggregate Available Amount over
(2) the total amount of funds, if any, then held in the L/C Cash Collateral Account that the
Issuing Bank determines to be free and clear of any such equal or prior right and claim.

          (b) The Borrower hereby authorizes the Issuing Bank to open at any time upon the occurrence
and during the continuance of an Event of Default a non-interest bearing account with the Issuing
Bank at its address designated in Section 10.02 in the name of the Borrower but in connection with
which the Issuing Bank shall be the sole entitlement holder or customer (the “L/C Cash Collateral
Account”), and hereby pledges and assigns and grants to the Issuing Bank on behalf of itself and of
the Lenders a security interest in the following collateral (the “L/C Cash Collateral Account
Collateral”):

     (i) the L/C Cash Collateral Account, all funds held therein and all certificates and
instruments, if any, from time to time representing or evidencing the investment of funds
held therein,

     (ii) all L/C Cash Collateral Account Investments from time to time, and all
certificates and instruments, if any, from time to time representing or evidencing the L/C
Cash Collateral Account Investments,

     (iii) all notes, certificates of deposit, deposit accounts, checks and other
instruments from time to time delivered to or otherwise possessed by the Issuing Bank for or
on behalf of the Borrower in substitution for or in addition to any or all of the then
existing L/C Cash Collateral Account Collateral,

     (iv) all interest, dividends, cash, instruments and other property from time to time
received, receivable or otherwise distributed in respect of or in exchange for any or all of
the then existing L/C Cash Collateral Account Collateral, and

     (v) all proceeds of any and all of the foregoing L/C Cash Collateral Account
Collateral.

          (c) If requested by the Borrower, the Issuing Bank will, subject to the provisions of
clause (e) below, from time to time (i) invest amounts on deposit in the L/C Cash

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Collateral Account in such notes, certificates of deposit and other debt instruments as the
Borrower may select and the Issuing Bank may approve and (ii) invest interest paid on the notes,
certificates of deposit and other instruments referred to in clause (i) above, and reinvest other
proceeds of any such notes, certificates of deposit and other instruments which may mature or be
sold, in each case in such notes, certificates of deposit and other debt instruments as the
Borrower may select and the Issuing Bank may approve (the notes, certificates of deposit and other
instruments referred to in clauses (i) and (ii) above being collectively “L/C Cash Collateral
Account Investments”). Interest and proceeds that are not invested or reinvested in L/C Cash
Collateral Account Investments as provided above shall be deposited and held in the L/C Cash
Collateral Account.

          (d) Upon such time as (i) the aggregate Available Amount of all Letters of Credit is reduced
to zero and such Letters of Credit are expired or terminated by their terms and all amounts payable
in respect thereof, including but not limited to principal, interest, commissions, fees and
expenses, have been paid in full in cash, and (ii) no Event of Default has occurred and is
continuing under this Agreement, the Issuing Bank will pay and release to the Borrower or at its
order (a) accrued interest due and payable on the L/C Cash Collateral Account Investments and in
the L/C Cash Collateral Account, and (b) the balance remaining in the L/C Cash Collateral Account
after the application, if any, by the Issuing Bank of funds in the L/C Cash Collateral Account to
the payment of amounts described in clause (i) of this subsection (d).

          (e) (i) The Issuing Bank may, without notice to the Borrower except as required by law and at
any time or from time to time, charge, set off and otherwise apply all or any part of the L/C Cash
Collateral Account against the obligations of the Borrower in respect of Letters of Credit
(collectively, the “L/C Cash Collateral Account Obligations”) or any part thereof. The Issuing
Bank agrees to notify the Borrower promptly after any such set off and application, provided that
the failure of any Issuing Bank to give such notice shall not affect the validity of such set off
and application.

     (ii) The Issuing Bank may also exercise in respect of the L/C Cash Collateral Account
Collateral, in addition to other rights and remedies provided for herein or otherwise
available to it, all the rights and remedies of a secured party on default under the Uniform
Commercial Code in effect in the State of New York at that time (the “UCC”) (whether or not
the UCC applies to the affected L/C Cash Collateral Account Collateral), and may also,
without notice except as specified below, sell the L/C Cash Collateral Account Collateral or
any part thereof in one or more parcels at public or private sale, at any of the Issuing
Bank’s offices or elsewhere, for cash, on credit or for future delivery, and upon such other
terms as the Issuing Bank may deem commercially reasonable. The Borrower agrees that, to
the extent notice of sale shall be required by law, at least ten (10) days’ notice to the
Borrower of the time and place of any public sale or the time after which any private sale
is to be made shall constitute reasonable notification. No Issuing Bank shall be obligated
to make any sale of L/C Cash Collateral

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Account Collateral regardless of notice of sale having been given. The Issuing Bank
may adjourn any public or private sale from time to time by announcement at the time and
place fixed therefor, and such sale may, without further notice, be made at the time and
place to which it was so adjourned.

     (iii) Any cash held by any Issuing Bank as L/C Cash Collateral Account Collateral and
all cash proceeds received by any Issuing Bank in respect of any sale of, collection from,
or other realization upon all or any part of the L/C Cash Collateral Account Collateral may,
in the discretion of the Issuing Bank, be held by the Issuing Bank as collateral for, and/or
then or at any time thereafter be applied in whole or in part by the Issuing Bank against,
all or any part of the L/C Cash Collateral Account Obligations in such order as the Issuing
Bank shall elect. Any surplus of such cash or cash proceeds held by any Issuing Bank and
remaining after payment in full of all the L/C Cash Collateral Account Obligations shall be
paid over to the Borrower or to whomsoever may be lawfully entitled to receive such surplus.

          (f) Upon the permanent reduction from time to time of the aggregate Available Amount of all
Letters of Credit in accordance with the terms thereof, the Issuing Bank’s shall release to the
Borrower amounts from the L/C Cash Collateral Account in an amount equal to each such permanent
reduction; provided that no Issuing Bank shall be obligated to reduce the funds or other L/C Cash
Collateral Account Collateral then held in the L/C Cash Collateral Account below that level that
the Issuing Bank reasonably determines is required to be maintained after taking into consideration
any rights or claims of any Persons other than the Issuing Bank.

          (g) In furtherance of the grant of the pledge and security interest pursuant to this
Section 8.04, the Borrower hereby agrees with the Administrative Agent and the Issuing Bank that
the Borrower shall give, execute, deliver, file and/or record any financing statement, notice,
instrument, document, agreement or other papers that may be necessary or desirable (in the
reasonable judgment of the Administrative Agent and the Issuing Bank) to create, preserve, perfect
or validate any security interest granted pursuant hereto or to enable the Issuing Bank to exercise
and enforce its rights hereunder with respect to such pledge and security interests.

ARTICLE IX

ADMINISTRATIVE AGENT; DOCUMENTATION AGENT

          Section 9.01 Appointment and Authority.

Each of the Lenders and the Issuing Bank hereby irrevocably appoints National City Bank to act on
its behalf as the Administrative Agent hereunder and under the other Loan Documents and authorizes
the Administrative Agent to take such actions on its behalf and to exercise such powers as are
delegated to the Administrative Agent by the terms hereof or thereof, together with

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such actions and powers as are reasonably incidental thereto. Each of the Lenders and the Issuing
Bank hereby irrevocably appoints PNC Bank, National Association, to act on its behalf as the
Documentation Agent hereunder and under the other Loan Documents and authorizes the Documentation
Agent to accept on behalf of each of the Lenders and the Issuing Bank the Loan Documents. The
provisions of this Article IX are solely for the benefit of the Administrative Agent, the
Documentation Agent and the Lenders, and neither the Borrower nor any other Loan Party shall have
rights as a third party beneficiary of any of such provisions. PNC Bank, National Association,
agrees to act as the Documentation Agent on behalf of the Lenders and the Issuing Bank to the
extent provided in this Agreement.

          Section 9.02 Rights as a Lender.

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

          Section 9.03 Exculpatory Provisions.

          Neither the Administrative Agent nor the Documentation Agent, as applicable, shall have any
duties or obligations except those expressly set forth herein and in the other Loan Documents.
Without limiting the generality of the foregoing, neither the Administrative Agent nor the
Documentation Agent, as applicable:

          (a) shall be subject to any fiduciary or other implied duties, regardless of whether a Default
has occurred and is continuing;

          (b) shall have any duty to take any discretionary action or exercise any discretionary powers,
except discretionary rights and powers expressly contemplated hereby or by the other Loan Documents
that the Administrative Agent or the Documentation Agent, as applicable, is required to exercise as
directed in writing by the Required Lenders (or such other number or percentage of the Lenders as
shall be expressly provided for herein or in the other Loan Documents), provided that neither the
Administrative Agent nor the Documentation Agent shall be required to take any action that, in its
opinion or the opinion of its counsel, may expose

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the Administrative Agent or the Documentation Agent to liability or that is contrary to any
Loan Document or applicable law; and

          (c) shall, except as expressly set forth herein and in the other Loan Documents, have any duty
to disclose, and shall be liable for the failure to disclose, any information relating to the
Borrower or any of its Affiliates that is communicated to or obtained by the Person serving as the
Administrative Agent or the Documentation Agent or any of their respective Affiliates in any
capacity.

Neither the Administrative Agent nor the Documentation Agent shall be liable for any action taken
or not taken by it (i) with the consent or at the request of the Required Lenders (or such other
number or percentage of the Lenders as shall be necessary, or as the Administrative Agent or the
Documentation Agent, as applicable, shall believe in good faith shall be necessary, under the
circumstances as provided in Sections 10.01 and 8.02) or (ii) in the absence of its own gross
negligence or willful misconduct. The Administrative Agent shall be deemed not to have knowledge
of any Default unless and until notice describing such Default is given to the Administrative Agent
by the Borrower, a Lender, or the Issuing Bank.

Neither the Administrative Agent nor the Documentation Agent shall be responsible for or have any
duty to ascertain or inquire into (i) any statement, warranty or representation made in or in
connection with this Agreement or any other Loan Document, (ii) the contents of any certificate,
report or other document delivered hereunder or thereunder or in connection herewith or therewith,
(iii) the performance or observance of any of the covenants, agreements or other terms or
conditions set forth herein or therein or the occurrence of any Default, (iv) the validity,
enforceability, effectiveness or genuineness of this Agreement, any other Loan Document or any
other agreement, instrument or document or (v) the satisfaction of any condition set forth in
Article IV or elsewhere herein, other than to confirm receipt of items expressly required to be
delivered to the Administrative Agent and/or the Documentation Agent, as applicable.

          Section 9.04 Reliance by Administrative Agent and/or Documentation Agent.

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

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Documentation Agent, as applicable, shall have received notice to the contrary from such
Lender prior to the making of such Loan. The Administrative Agent and/or the Documentation Agent,
as applicable, may consult with legal counsel (who may be counsel for the Borrower), independent
accountants and other experts selected by it, and shall not be liable for any action taken or not
taken by it in accordance with the advice of any such counsel, accountants or experts.

          Section 9.05 Delegation of Duties.

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

          Section 9.06 Resignation of Administrative Agent.

          The Administrative Agent may at any time give notice of its resignation to the Lenders, the
Issuing Bank and the Borrower. Upon receipt of any such notice of resignation, the Required
Lenders shall have the right, in consultation with the Borrower, to appoint a successor, which
shall be a bank with an office in the United States, or an Affiliate of any such bank with an
office in the United States. If no such successor shall have been so appointed by the Required
Lenders and shall have accepted such appointment within thirty (30) days after the retiring
Administrative Agent gives notice of its resignation, then the retiring Administrative Agent may on
behalf of the Lenders, appoint a successor Administrative Agent meeting the qualifications set
forth above; provided that if the Administrative Agent shall notify the Borrower and the Lenders
that no qualifying Person has accepted such appointment, then such resignation shall nonetheless
become effective in accordance with such notice and (a) the retiring Administrative Agent shall be
discharged from its duties and obligations hereunder and under the other Loan Documents (except
that in the case of any collateral security held by the Administrative Agent on behalf of the
Lenders under any of the Loan Documents, the retiring Administrative Agent shall continue to hold
such collateral security until such time as a successor Administrative Agent is appointed) and
(b) all payments, communications and determinations provided to be made by, to or through the
Administrative Agent shall instead be made by or to each Lender directly, until such time as the
Required Lenders appoint a successor Administrative Agent as provided for in this Section 9.06.
Upon the acceptance of a successor’s appointment as Administrative Agent

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hereunder, such successor shall succeed to and become vested with all of the rights, powers,
privileges and duties of the retiring (or retired) Administrative Agent, and the retiring
Administrative Agent shall be discharged from all of its duties and obligations hereunder or under
the other Loan Documents (if not already discharged therefrom as provided in this Section 9.06).
The fees payable by the Borrower to a successor Administrative Agent shall be the same as those
payable to its predecessor unless otherwise agreed between the Borrower and such successor. After
the retiring Administrative Agent’s resignation hereunder and under the other Loan Documents, the
provisions of this Article IX and Section 10.04 shall continue in effect for the benefit of such
retiring Administrative Agent, its sub-agents and their respective Related Parties in respect of
any actions taken or omitted to be taken by any of them while the retiring Administrative Agent was
acting as Administrative Agent.

          Section 9.07 Non-Reliance on Administrative Agent or Documentation Agent and Other Lenders.

          Each Lender acknowledges that it has, independently and without reliance upon the
Administrative Agent, the Documentation Agent or any other Lender or any of their Related Parties
and based on such documents and information as it has deemed appropriate, made its own credit
analysis and decision to enter into this Agreement. Each Lender also acknowledges that it will,
independently and without reliance upon the Administrative Agent, the Documentation Agent or any
other Lender or any of their Related Parties and based on such documents and information as it
shall from time to time deem appropriate, continue to make its own decisions in taking or not
taking action under or based upon this Agreement, any other Loan Document or any related agreement
or any document furnished hereunder or thereunder.

          Section 9.08 No Other Duties, Etc.

          Anything herein to the contrary notwithstanding, neither Fifth Third Bank, in its capacity as
Co-Lead Arranger, nor PNC Capital Markets LLC, in its capacity as Co-Lead Arranger and/or Sole
Bookrunner, shall have any powers, duties or responsibilities under this Agreement or any of the
other Loan Documents. The parties hereto acknowledge and agree that no Person shall have, solely
by reason of its designation as documentation agent, any power, duty, responsibility or liability
whatsoever under this Agreement or any other Loan Document, provided, however, the Documentation
Agent shall have such duties and responsibilities expressly set forth in Section 4.01 of this
Agreement.

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ARTICLE X

MISCELLANEOUS

          Section 10.01 Amendments, Etc.

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

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

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

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

          (d) reduce the principal of, or the rate of interest specified herein on, any Loan, or any
fees or other amounts payable hereunder or under any other Loan Document that would result in a
reduction of any interest rate on any Loan or any fee payable hereunder without the written consent
of each Lender directly affected thereby; provided, however, that only the consent of the Required
Lenders shall be necessary to amend the definition of “Default Rate” or to waive any obligation of
the Borrower to pay interest at the Default Rate;

          (e) change Section 2.15 or Section 2.16 in a manner that would alter the pro rata sharing of
payments required thereby without the written consent of each Lender;

          (f) change any provision of this Section 10.01 or the definition of “Required Lenders” or any
other provision hereof specifying the number or percentage of Lenders required to amend, waive or
otherwise modify any rights hereunder or make any determination or grant any consent hereunder,
without the written consent of each Lender; or

          (g) except as otherwise permitted under this Agreement or in the case of any Guarantor which
ceases to be a Material Subsidiary release any Guarantor from the Subsidiary Guaranty without the
written consent of each Lender;

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          (h) release any of the Pledged Equity from the Lien of the Pledge Agreement; provided,
however, the Administrative Agent may release Pledged Equity at such time as such Pledged
Equity ceases to constitute the capital stock or beneficial or membership interests of a Material
Subsidiary or a Foreign Subsidiary that owns a Material Subsidiary that is a Foreign Subsidiary;

and, provided further, that no amendment, waiver or consent shall, unless in writing and signed by
the Administrative Agent in addition to the Lenders required above, affect the rights or duties of
the Administrative Agent under this Agreement or any other Loan Document. Notwithstanding anything
to the contrary herein, no Defaulting Lender shall have any right to approve or disapprove any
amendment, waiver or consent hereunder, except that the Commitment of such Lender may not be
increased or extended without the consent of such Lender.

          Section 10.02 Notices; Effectiveness; Electronic Communication.

          (a) Notices Generally. Except in the case of notices and other communications expressly
permitted to be given by telephone (and except as provided in Section 10.02(b)), all notices and
other communications provided for herein shall be in writing and shall be delivered by hand or
overnight courier service, mailed by certified or registered mail or sent by telecopier as follows,
and all notices and other communications expressly permitted hereunder to be given by telephone
shall be made to the applicable telephone number, as follows:

     (i) if to the Borrower or the Administrative Agent, to the address, telecopier number,
electronic mail address or telephone number specified for such Person on
Schedule 10.02; and

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

Notices 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 Section 10.02(b),
shall be effective as provided in Section 10.02(b).

          (b) Electronic Communications. Notices and other communications to the Lenders hereunder may
be delivered or furnished by electronic communication (including e-mail and Internet or intranet
websites) pursuant to procedures approved by the Administrative Agent, provided that the foregoing
shall not apply to notices to any Lender pursuant to Article II if such Lender has notified the
Administrative Agent that it is incapable of receiving notices under such

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Article by electronic communication. The Administrative Agent or the Borrower may, in its
discretion, agree to accept notices and other communications to it hereunder by electronic
communications pursuant to procedures approved by it, provided that approval of such procedures may
be limited to particular notices or communications.

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

          (c) Change of Address, Etc. Each of the Borrower and the Administrative Agent may change its
address, telecopier or telephone number for notices and other communications hereunder by notice to
the other parties hereto. Each other Lender may change its address, telecopier or telephone number
for notices and other communications hereunder by notice to the Borrower and the Administrative
Agent.

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

          Section 10.03 No Waiver; Cumulative Remedies.

          No failure by any Lender, any Issuing Bank or the Administrative Agent to exercise, and no
delay by any such Person in exercising, any right, remedy, power or privilege hereunder shall
operate as a waiver thereof; nor shall any single or partial exercise of any right, remedy, power
or privilege hereunder preclude any other or further exercise thereof or the exercise of any other
right, remedy, power or privilege. The rights, remedies, powers and

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

          Section 10.04 Expenses; Indemnity; Damage Waiver.

          (a) Costs and Expenses. The Borrower shall pay (i) all reasonable out-of-pocket expenses
incurred by the Administrative Agent and/or the Documentation Agent and their respective Affiliates
(including the reasonable fees, charges and disbursements of counsel for the Administrative Agent
and/or the Documentation Agent, as applicable), in connection with the syndication of the credit
facilities provided for herein, the preparation, negotiation, execution, delivery and
administration of this Agreement and the other Loan Documents or any amendments, modifications or
waivers of the provisions hereof or thereof (whether or not the transactions contemplated hereby or
thereby shall be consummated), and (ii) all out-of-pocket expenses incurred by the Administrative
Agent, the Documentation Agent or any Issuing Bank (including the fees, charges and disbursements
of any counsel for the Administrative Agent, the Documentation Agent or any Issuing Bank), in
connection with the enforcement or protection of its rights (A) in connection with this Agreement
and the other Loan Documents, including its rights under this Section 10.04, or (B) in connection
with the Loans made and Letters of Credit issued hereunder, including all such out-of-pocket
expenses incurred during any workout, restructuring or negotiations in respect of such Loans and
Letters of Credit.

          (b) Indemnification by the Borrower. The Borrower shall indemnify the Administrative Agent
(and any sub-agent thereof), the Documentation Agent (and any sub-agent thereof), the Issuing Bank
and each Lender, and each Related Party of any of the foregoing Persons (each such Person being
called an “Indemnitee”) against, and hold each Indemnitee harmless from, any and all losses,
claims, damages, liabilities and related expenses (including the reasonable fees, charges and
disbursements of any counsel for any Indemnitee), incurred by any Indemnitee or asserted against
any Indemnitee by any third party or by the Borrower or any other Loan Party arising out of, in
connection with, or as a result of (i) the execution or delivery of this Agreement, any other Loan
Document or any agreement or instrument contemplated hereby or thereby, the performance by the
parties hereto of their respective obligations hereunder or thereunder or the consummation of the
transactions contemplated hereby or thereby, (ii) any Loan or Letter of Credit or the use or
proposed use of the proceeds therefrom, (iii) any actual or alleged presence or release of
Hazardous Substances on or from any property owned or operated by the Borrower or any of its
Subsidiaries, or any Environmental Liability related in any way to the Borrower or any of its
Subsidiaries or (iv) any actual or prospective claim, litigation, investigation or proceeding
relating to any of the foregoing, whether based on contract, tort or any other theory, whether
brought by a third party or by the Borrower or any other Loan Party, and regardless of whether any
Indemnitee is a party thereto; provided that such indemnity shall not, as to any
Indemnitee, be available to the extent that such losses, claims, damages, liabilities or related
expenses (x) are determined by a court of competent jurisdiction by final and nonappealable
judgment to have resulted from the gross negligence or willful misconduct of

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such Indemnitee or (y) result from a claim brought by the Borrower or any other Loan Party
against an Indemnitee for breach in bad faith of such Indemnitee’s obligations hereunder or under
any other Loan Document, if the Borrower or such Loan Party has obtained a final and nonappealable
judgment in its favor on such claim as determined by a court of competent jurisdiction. It is
understood that the Borrower shall not, in connection with any action or related actions in the
same jurisdiction, be liable for the fees and expenses of more than one separate law firm for
all Indemnitees, unless the Indemnitees shall have concluded that representation of all
the Indemnitees by the same counsel would be inappropriate due to actual or potential differing
interests among them.

          (c) Reimbursement by Lenders. To the extent that the Borrower for any reason fails to
indefeasibly pay any amount required under Section 10.04(a) or (b) to be paid by it to the
Administrative Agent (or any sub-agent thereof), the Documentation Agent (or any sub-agent thereof)
or any Related Party of any of the foregoing, each Lender severally agrees to pay to the
Administrative Agent (or any sub-agent thereof), the Documentation Agent (or any such sub-agent),
or such Related Party, as the case may be, such Lender’s Ratable Share, (determined as of the time
that the applicable unreimbursed expense or indemnity payment is sought) of such unpaid amount,
provided that the unreimbursed expense or indemnified loss, claim, damage, liability or
related expense, as the case may be, was incurred by or asserted against the Administrative Agent
and/or the Documentation Agent (or any such sub-agent), in its capacity as such, or against any
Related Party of any of the foregoing acting for the Administrative Agent and/or the Documentation
Agent (or any such sub-agent), in connection with such capacity. The obligations of the Lenders
under this Section 10.04(c) are subject to the provisions of Sections 2.05(a)(v) and 2.05(b)(vi).

          (d) Waiver of Consequential Damages, Etc. To the fullest extent permitted by applicable law,
the Borrower shall not assert, and hereby waives, any claim against any Indemnitee, on any theory
of liability, for special, indirect, consequential or punitive damages (as opposed to direct or
actual damages) arising out of, in connection with, or as a result of, this Agreement, any other
Loan Document or any agreement or instrument contemplated hereby, the transactions contemplated
hereby or thereby, any Loan or Letter of Credit or the use of the proceeds thereof. No Indemnitee
referred to in Section 10.04(b) shall be liable for any damages arising from the use by unintended
or unauthorized recipients of any information or other materials distributed by it through
telecommunications, electronic or other similar information transmission systems in connection with
this Agreement or the other Loan Documents or the transactions contemplated hereby or thereby.

          (e) Payments. All amounts due under this Section 10.04 shall be payable not later than ten
(10) Business Days after demand therefor.

          (f) Survival. The agreements in this Section 10.04 shall survive the resignation of the
Administrative Agent, the replacement of any Lender, or Issuing Bank the

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termination of the Aggregate Commitments and the repayment, satisfaction or discharge of all
the other Obligations.

          Section 10.05 Payments Set Aside.

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

          Section 10.06 Successors and Assigns.

          (a) Successors and Assigns Generally. The provisions of this Agreement shall be binding upon
and inure to the benefit of the parties hereto and their respective successors and assigns
permitted hereby, except that neither the Borrower nor any other Loan Party may assign or otherwise
transfer any of its rights or obligations hereunder without the prior written consent of the
Administrative Agent, the Issuing Bank and each Lender and no Issuing Bank or Lender may assign or
otherwise transfer any of its rights or obligations hereunder except (i) to an Eligible Assignee in
accordance with Section 10.06(b), (ii) by way of participation in accordance with Section 10.06(d),
or (iii) by way of pledge or assignment of a security interest subject to the restrictions of
Section 10.06(f), (and any other attempted assignment or transfer by any party hereto shall be null
and void). Nothing in this Agreement, expressed or implied, shall be construed to confer upon any
Person (other than the parties hereto, their respective successors and assigns permitted hereby,
Participants to the extent provided in Section 10.06(d) and, to the extent expressly contemplated
hereby, the Related Parties of each of the Administrative Agent, the Issuing Bank and the Lenders)
any legal or equitable right, remedy or claim under or by reason of this Agreement.

          (b) Assignments by Lenders. Any Lender may at any time assign to one or more Eligible
Assignees all or a portion of its rights and obligations under this Agreement

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(including all or a portion of its Commitment and the Loans at the time owing to it); provided
that

     (i) except in the case of an assignment of the entire remaining amount of the assigning
Lender’s Commitment and the Loans at the time owing to it or in the case of an assignment to
a Lender or an Affiliate of a Lender or an Approved Fund with respect to a Lender, the
aggregate amount of the Commitment (which for this purpose includes Loans outstanding
thereunder) or, if the Commitment is not then in effect, the principal outstanding balance
of the Loans of the assigning Lender subject to each such assignment, determined as of the
date the Assignment and Assumption with respect to such assignment is delivered to the
Administrative Agent or, if “Trade Date” is specified in the Assignment and Assumption, as
of the Trade Date, shall not be less than Five Million and 00/100 Dollars ($5,000,000.00)
and increments of One Million and 00/100 Dollars ($1,000,000.00) in excess thereof unless
each of the Administrative Agent and, so long as no Event of Default has occurred and is
continuing, the Borrower otherwise consents (each such consent not to be unreasonably
withheld or delayed);

     (ii) each partial assignment shall be made as an assignment of a proportionate part of
all the assigning Lender’s rights and obligations under this Agreement with respect to the
Loans or the Commitment assigned;

     (iii) any assignment of a Commitment must be approved by the Administrative Agent and,
so long as no Event of Default has occurred and is continuing, the Borrower (such consents
not be unreasonably withheld or delayed), unless the Person that is the proposed assignee is
itself a Lender or an Affiliate of a Lender (whether or not the proposed assignee would
otherwise qualify as an Eligible Assignee); and

     (iv) 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 Three
Thousand Five Hundred and 00/100 Dollars ($3,500.00), and the Eligible Assignee, if it shall
not be a Lender, shall deliver to the Administrative Agent an Administrative Questionnaire.

Subject to acceptance and recording thereof by the Administrative Agent pursuant to
Section 10.06(c), from and after the effective date specified in each Assignment and Assumption,
the Eligible Assignee thereunder shall be a party to this Agreement and, to the extent of the
interest assigned by such Assignment and Assumption, have the rights and obligations of a Lender
under this Agreement, and the assigning Lender thereunder shall, to the extent of the interest
assigned by such Assignment and Assumption, be released from its obligations under this Agreement
(and, in the case of an Assignment and Assumption covering all of the assigning Lender’s rights and
obligations under this Agreement, such Lender shall cease to be a party hereto) but shall continue
to be entitled to the benefits of Sections 3.01, 3.04, 3.05 and 10.04

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with respect to facts and circumstances occurring prior to the effective date of such assignment.
Upon request, the Borrower (at its expense) shall execute and deliver Notes to the assignee Lender.
Any assignment or transfer by a Lender of rights or obligations under this Agreement that does not
comply with this Section 10.06(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 Section 10.06(d).

          (c) Register. The Administrative Agent, acting solely for this purpose as an agent of the
Borrower, shall maintain at the Administrative Agent’s Office 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 amounts of the Loans owing to, each Lender pursuant
to the terms hereof from time to time (the “Register”). The entries in the Register shall be
conclusive, and the Borrower, the Administrative Agent and the Lenders may treat each Person whose
name is recorded in the Register pursuant to the terms hereof as a Lender hereunder for all
purposes of this Agreement, notwithstanding notice to the contrary. The Register shall be
available for inspection by the Borrower at any reasonable time and from time to time upon
reasonable prior notice. In addition, at any time that a request for a consent for a material or
substantive change to the Loan Documents is pending, any Lender wishing to consult with other
Lenders in connection therewith may request and receive from the Administrative Agent a copy of the
Register.

          (d) Participations. Any Lender may at any time, without the consent of, or notice to, the
Borrower or the Administrative Agent, sell participations to any Person (other than a natural
person or the Borrower or any of the Borrower’s Affiliates or Subsidiaries) (each, a “Participant”)
in all or a portion of such Lender’s rights and/or obligations under this Agreement (including all
or a portion of its Commitment and/or the Loans owing to it); provided that (i) such Lender’s
obligations under this Agreement shall remain unchanged, (ii) such Lender shall remain solely
responsible to the other parties hereto for the performance of such obligations and (iii) the
Borrower, the Administrative Agent and the 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, waiver or other modification described in the first proviso to Section 10.01 that
affects such Participant. Subject to Section 10.06(e), the Borrower agrees that each Participant
shall be entitled to the benefits of Sections 3.01, 3.04 and 3.05 to the same extent as if it were
a Lender and had acquired its interest by assignment pursuant to Section 10.06(b). To the extent
permitted by law, each Participant also shall be entitled to the benefits of Section 10.08 as
though it were a Lender, provided such Participant agrees to be

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subject to Section 2.16 as though it were a Lender.

          (e) Limitations upon Participant Rights. A Participant shall not be entitled to receive any
greater payment under Section 3.01, 3.04 or 3.05 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 Borrower’s prior written consent. A
Participant that would be a Foreign Lender if it were a Lender shall not be entitled to the
benefits of Section 3.01 unless the Borrower is notified of the participation sold to such
Participant and such Participant agrees, for the benefit of the Borrower, to comply with Section
3.01(e) as though it were a Lender.

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

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

          (h) Notwithstanding anything to the contrary contained herein, if at any time any Lender that
is also the Issuing Bank assigns all of its Revolving Credit Commitment and Loans pursuant to
subsection (b) above, such Lender may, upon thirty (30) days’ notice to the Borrower and the
Lenders, resign as Issuing Bank. In the event of any such resignation as Issuing Bank, the
Borrower shall be entitled to appoint from among the Lenders a successor Issuing Bank hereunder;
provided, however, that no failure by the Borrower to appoint any such successor
shall affect the resignation of such Lender as Issuing Bank. If any such Lender resigns as Issuing
Bank, it shall retain all the rights and obligations of the Issuing Bank hereunder with respect to
all Letters of Credit issued by it in such capacity outstanding as of the effective date of its
resignation as Issuing Bank (including the right to require the Lenders to make Loans or fund
participations in respect thereof pursuant to Section 2.19).

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          Section 10.07 Treatment of Certain Information; Confidentiality.

          Each of the Administrative Agent, the Lenders and the Issuing Bank agrees to maintain the
confidentiality of the Information (as defined below), except that Information may be disclosed (a)
to its Affiliates and to its and its Affiliates’ respective managers, administrators, trustees,
partners, directors, officers, employees, agents, advisors and other representatives (it being
understood that the Persons to whom such disclosure is made will be informed of the confidential
nature of such Information and each such Person shall be bound by the provisions of Section 10.07
as if it were a Lender hereunder), (b) to the extent requested by any regulatory authority
purporting to have jurisdiction over it (including any self-regulatory authority, such as the
National Association of Insurance Commissioners), (c) to the extent required by applicable laws or
regulations or by any subpoena or similar legal process, (d) to any other party hereto, (e) in
connection with the exercise of any remedies hereunder or under any other Loan Document or the
enforcement of rights hereunder or thereunder, (f) subject to any agreement containing provisions
substantially the same as those of this Section, to (i) any assignee of or Participant in, or any
prospective assignee of or Participant in, any of its rights or obligations under this Agreement or
(ii) any actual or prospective party (or its managers, administrators, trustees, partners,
directors, officers, employees, agents, advisors and other representatives) to any swap or
derivative or similar transaction under which payments are to be made by reference to the Borrower
and its obligations, this Agreement or payments hereunder, (iii) any rating agency, or (iv) the
CUSIP Service Bureau or any similar organization, (g) with the consent of the Borrower or (h) to
the extent such Information (x) becomes publicly available other than as a result of a breach of
this Section or (y) becomes available to the Administrative Agent, any Lender, the Issuing Bank or
any of their respective Affiliates on a nonconfidential basis from a source other than the
Borrower. With respect to any disclosure made pursuant to clause (c) above, each of the
Administrative Agent, the Lenders and the Issuing Bank agrees that it will notify the Borrower as
soon as practical in the event of any such disclosure (other than disclosures made at the request
of a regulatory authority), unless such notification shall be prohibited by applicable law or legal
process.

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

99

 

          Section 10.08 Right of Setoff.

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

          Section 10.09 Interest Rate Limitation.

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

          Section 10.10 Counterparts; Integration; Effectiveness.

          This Agreement may be executed in counterparts (and by different parties hereto in different
counterparts), each of which shall constitute an original, but all of which when taken together
shall constitute a single contract. This Agreement and the other Loan Documents, and the
Documentation Agent Fee Letter constitute the entire contract among the parties relating to the
subject matter hereof and supersede any and all previous agreements and understandings, oral or
written, relating to the subject matter hereof. Delivery of an executed counterpart of a

100

 

signature page of this Agreement by telecopy or shall be effective as delivery of a manually
executed counterpart of this Agreement.

          Section 10.11 Survival of Representations and Warranties.

          All representations and warranties made hereunder and in any other Loan Document or other
document delivered pursuant hereto or thereto or in connection herewith or therewith shall survive
the execution and delivery hereof and thereof until repayment in full of all Obligations (other
than contingent indemnification obligations with respect to unasserted claims). Such
representations and warranties have been or will be relied upon by the Administrative Agent and
each Lender, regardless of any investigation made by the Administrative Agent or any Lender or on
their behalf and notwithstanding that the Administrative Agent or any Lender may have had notice or
knowledge of any Default at the time of any Borrowing, and shall continue in full force and effect
as long as any Loan or any other Obligation hereunder shall remain unpaid or unsatisfied.

          Section 10.12 Severability.

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

          Section 10.13 Replacement of Lenders.

          If any Lender requests compensation under Section 3.04, or if the Borrower is required to pay
any additional amount to any Lender or any Governmental Entity for the account of any Lender
pursuant to Section 3.01, or if any Lender is a Defaulting Lender, then the Borrower may, at its
sole expense and effort, upon notice to such Lender and the Administrative Agent, require such
Lender to assign and delegate, without recourse (in accordance with and subject to the restrictions
contained in, and consents required by, Section 10.06), all of its interests, rights and
obligations under this Agreement and the related Loan Documents to an assignee that shall assume
such obligations (which assignee may be another Lender, if a Lender accepts such assignment),
provided that:

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

101

 

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

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

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

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

          Section 10.14 Governing Law; Jurisdiction; Etc.

          (a) Governing Law. This Agreement shall be governed by and construed in accordance with the
law of the State of New York.

          (b) Submission to Jurisdiction. The Borrower and each other Loan Party irrevocably and
unconditionally submits, for itself and its property, to the nonexclusive jurisdiction of the
Courts of the State of New York sitting in the County of New York and of the United States District
Court of the Southern District of New York, and any appellate Court from any thereof, in any action
or proceeding arising out of or relating to this Agreement or any other Loan Document, or for
recognition or enforcement of any judgment, and each of the parties hereto irrevocably and
unconditionally agrees that all claims in respect of any such action or proceeding may be heard and
determined in such New York State Court or, to the fullest extent permitted by applicable law, in
such Federal Court. Each of the parties hereto agrees that a final judgment in any such action or
proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment
or in any other manner provided by law. Nothing in this Agreement or in any other Loan Document
shall affect any right that the Administrative Agent or any Lender may otherwise have to bring any
action or proceeding relating to this Agreement or any other Loan Document against the Borrower or
any other Loan Party or its properties in the Courts of any jurisdiction.

          (c) Waiver of Venue. The Borrower and each other Loan Party irrevocably and unconditionally
waives, to the fullest extent permitted by applicable law, any objection that it may now or
hereafter have to the laying of venue of any action or proceeding arising out of or relating to
this Agreement or any other Loan Document in any Court referred to in paragraph (b) of this
Section 10.14. Each of the parties hereto hereby irrevocably waives, to the fullest extent

102

 

permitted by applicable law, the defense of an inconvenient forum to the maintenance of such
action or proceeding in any such court.

          (d) Service of Process. Each party hereto irrevocably consents to service of process in the
manner provided for notices in Section 10.02. Nothing in this Agreement will affect the right of
any party hereto to serve process in any other manner permitted by applicable law.

          Section 10.15 Waiver of Jury Trial.

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

          Section 10.16 USA PATRIOT Act Notice.

          Each Lender that is subject to the Act (as hereinafter defined) and the Administrative Agent
(for itself and not on behalf of any Lender) hereby notifies the Borrower that pursuant to the
requirements of the USA Patriot Act (Title III of Pub. L. 107-56 (signed into law October 26,
2001)) (the “Act”), it is required to obtain, verify and record information that identifies the
Borrower, which information includes the name and address of the Borrower and other information
that will allow such Lender or the Administrative Agent, as applicable, to identify the Borrower in
accordance with the Act.

          Section 10.17 Amendment and Restatement.

          This Agreement amends and restates in its entirety the Existing Credit Agreement and upon the
effectiveness of this Agreement, the terms and provisions of the Existing Credit Agreement shall,
subject to this Section 10.17, be superseded hereby. All references to the “Credit Agreement”
contained in the other Loan Documents delivered in connection with the Existing Credit Agreement or
this Agreement shall, and shall be deemed to, refer to this Agreement. Notwithstanding the
amendment and restatement of the Existing Credit Agreement by this Agreement, the Obligations of
the Borrower and the other Loan Parties outstanding under

103

 

the Existing Credit Agreement and the other Loan Documents as of the Closing Date shall remain
outstanding and shall constitute continuing Obligations and shall continue as such to be secured by
the Pledged Equity. Such Obligations shall in all respects be continuing and this Agreement shall
not be deemed to evidence or result in a novation or repayment and reborrowing of such Obligations.
The Liens securing payment of the Obligations under the Existing Credit Agreement, as amended and
restated in the form of this Agreement, shall in all respects be continuing, securing the payment
of all Obligations.

[Remainder of page intentionally left blank; signature pages follow]

104

 

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

	 	 	 	 	 
	 	THE BORROWER

RTI INTERNATIONAL METALS, INC.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	THE ADMINISTRATIVE AGENT

NATIONAL CITY BANK

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	THE DOCUMENTATION AGENT

PNC BANK, NATIONAL ASSOCIATION

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	THE LENDERS

CITIBANK, N.A.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

 

 

	 	 	 	 	 
	 	PNC BANK, NATIONAL ASSOCIATION

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	FIFTH THIRD BANK

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	COMERICA BANK

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	KEYBANK NATIONAL ASSOCIATION

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	NATIONAL CITY BANK

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

 

 

	 	 	 	 	 
	 	BANK OF AMERICA, N.A.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	PRUDENTIAL RETIREMENT INSURANCE AND ANNUITY COMPANY

 	 
	 	By:  	Prudential Investment Management, Inc.,
 	 
	 	 	as investment manager 	 
	 	 	 	 
	 
	 	 	 
	 	By:  	
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	WELLS FARGO BANK, NATIONAL ASSOCIATION

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	FIRSTMERIT BANK, N.A.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	TD BANK, N.A.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

 

 

	 	 	 	 	 
	 	FIRST NATIONAL BANK OF PENNSYLVANIA

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	FIRST COMMONWEALTH BANK

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	TRISTATE CAPITAL BANK

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

 

 

Schedule 2.01

To Credit Agreement

Revolving Credit Commitments and Applicable Revolving Credit Percentages

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Applicable Revolving
	 	 	Revolving Credit	 	Credit
	Lender	 	Commitment	 	Percentage
	Citibank, N.A.
	 	$	40,243,902.44	 	 	 	20.1219512200	%
	PNC Bank National Association
	 	$	40,243,902.44	 	 	 	20.1219512200	%
	Fifth Third Bank
	 	$	40,243,902.44	 	 	 	20.1219512200	%
	Comerica Bank
	 	$	28,170,731.71	 	 	 	14.08536585550	%
	KeyBank National Association
	 	$	35,000,000.00	 	 	 	17.5000000000	%
	National City Bank
	 	$	16,097,560.97	 	 	 	8.0487804850	%
	TOTAL:
	 	$	200,000,000	 	 	 	100	%

 

 

Schedule 2.02

To Credit Agreement

Term Loan Commitments and Applicable Term Loan Percentages

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Applicable Term Loan
	Lender	 	Term Loan Commitment
	 	Percentage
	Citibank, N.A.
	 	$	9,756,097.56	 	 	 	4.3360433600	%
	PNC Bank National
Association
	 	$	19,756,097.56	 	 	 	8.7804878044	%
	Fifth Third Bank
	 	$	19,756,097.56	 	 	 	8.7804878044	%
	Comerica Bank
	 	$	6,829,268.29	 	 	 	3.0352303511	%
	Bank of America, N.A.
	 	$	35,000,000.00	 	 	 	15.5555555556	%
	National City Bank
	 	$	18,902,439.03	 	 	 	8.4010840133	%
	Prudential Retirement
Insurance and Annuity
Company
	 	$	25,000,000.00	 	 	 	11.1111111111	%
	Wells Fargo Bank, National
Association
	 	$	25,000,000.00	 	 	 	11.1111111111	%
	FirstMerit Bank, N.A.
	 	$	20,000,000.00	 	 	 	8.8888888889	%
	TD Bank, N.A.
	 	$	15,000,000.00	 	 	 	6.6666666667	%
	First National Bank of
Pennsylvania
	 	$	10,000,000.00	 	 	 	4.44444444444	%
	First Commonwealth Bank
	 	$	10,000,000.00	 	 	 	4.44444444444	%
	TriState Capital Bank
	 	$	10,000,000.00	 	 	 	4.44444444444	%
	TOTAL:
	 	$	225,000,000	 	 	 	100	%

 

 

Schedule 2.10

To Credit Agreement 

RTI International Metals, Inc.

$425,000,000 Credit Facility

Pricing Grid and Applicable Margins

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	LEVEL 1	 	LEVEL 2	 	LEVEL 3	 	LEVEL 4	 	LEVEL 5	 	Level 6
	Leverage Ratio	 	 	 	 	 	> 0.5:1.0 and	 	> 1.0:1.0 and	 	> 1.5:1.0 and	 	> 2.0:1.0 and	 	 
	(Net Debt / EBITDA)	 	£ 0.5:1.0	 	£ 1.0:1.0	 	£ 1.5:1.0	 	£ 2.0:1.0	 	£ 2.5:1.0	 	>2.5:1.0
	Facility Fee
	 	10 bps	 	12 bps	 	15 bps	 	20 bps	 	25 bps	 	25 bps
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Revolving Loans
Applicable Margin
for Eurodollar
Rate Loans; Letter
of Credit Fees
	 	40 bps	 	48 bps	 	60 bps	 	80 bps	 	100 bps	 	125 bps
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Total Fee on
Outstanding
Eurodollar
Advances
	 	50 bps	 	60 bps	 	75 bps	 	100 bps	 	125 bps	 	150 bps
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Term Loan
Applicable Margin
for Eurodollar
Rate Loans
	 	200 bps	 	200 bps	 	200 bps	 	200 bps	 	250 bps	 	250 bps
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Term Loan
Applicable Margin
for Base Rate
Loans
	 	50 bps	 	50 bps	 	50 bps	 	50 bps	 	100 bps	 	100 bps

Until the sixtieth (60th) day following the fiscal quarter ended September 30, 2008, the
Applicable Margin shall be based upon Level 1 pricing as set forth above. Any change thereafter
shall be based upon the financial statements and compliance certificates provided pursuant to
Sections 6.01(a), 6.01(b) and 6.01(c) and shall become effective on the date such financial
statements and compliance certificates are due in accordance with such Sections.

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