Document:

exv4w1

EXHIBIT 4.1

 

CREDIT AGREEMENT

dated as of

July 19, 2010

among

SHERWIN-WILLIAMS LUXEMBOURG S.À R.L.,

as Borrower

THE SHERWIN-WILLIAMS COMPANY,

as Guarantor

The Lenders Party Hereto

and

BANK OF AMERICA, N.A.,

as Administrative Agent and L/C Issuer

BANC OF AMERICA SECURITIES LLC,

as Sole Bookrunner and Joint Mandated Lead Arranger

and

HSBC SECURITIES (USA) INC.,

as Joint Mandated Lead Arranger

 

 

 

TABLE OF CONTENTS

	 	 	 	 	 	 	 
	 	 	 	 	page	 
	ARTICLE I DEFINITIONS	 	 	1	 
	 
	Section 1.01.
	 	Defined Terms	 	 	1	 
	Section 1.02.
	 	Terms Generally	 	 	18	 
	Section 1.03.
	 	Accounting Terms; GAAP	 	 	18	 
	Section 1.04.
	 	Letter of Credit Amounts	 	 	19	 
	 
	ARTICLE II THE LOANS	 	 	19	 
	 
	Section 2.01.
	 	Loans	 	 	19	 
	Section 2.02.
	 	Borrowings	 	 	20	 
	Section 2.03.
	 	Requests for Revolving Loan and Term Loan Borrowings	 	 	20	 
	Section 2.04.
	 	Funding of Borrowing	 	 	21	 
	Section 2.05.
	 	Letters of Credit	 	 	21	 
	Section 2.06.
	 	Swing Line Loans	 	 	30	 
	Section 2.07.
	 	Interest Elections	 	 	33	 
	Section 2.08.
	 	Termination of Commitments; Reductions of Commitments; Increase in Commitments	 	 	34	 
	Section 2.09.
	 	Repayment of Loans; Evidence of Debt	 	 	36	 
	Section 2.10.
	 	Prepayment of Loans	 	 	37	 
	Section 2.11.
	 	Fees	 	 	38	 
	Section 2.12.
	 	Interest	 	 	39	 
	Section 2.13.
	 	Alternate Rate of Interest	 	 	39	 
	Section 2.14.
	 	Increased Costs	 	 	40	 
	Section 2.15.
	 	Break Funding Payments	 	 	41	 
	Section 2.16.
	 	Taxes	 	 	42	 
	Section 2.17.
	 	Payments Generally; Pro Rata Treatment; Sharing of Set-offs	 	 	43	 
	Section 2.18.
	 	Mitigation Obligations; Replacement of Lenders	 	 	44	 
	Section 2.19.
	 	Defaulting Lenders	 	 	45	 
	Section 2.20.
	 	Cash Collateral	 	 	47	 
	 
	ARTICLE III REPRESENTATIONS AND WARRANTIES	 	 	48	 
	 
	Section 3.01.
	 	Organization; Powers	 	 	48	 
	Section 3.02.
	 	Authorization; Enforceability	 	 	49	 
	Section 3.03.
	 	Governmental Approvals; No Conflicts	 	 	49	 
	Section 3.04.
	 	Financial Condition; No Material Adverse Change	 	 	49	 

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TABLE OF CONTENTS

(cont’d.)

	 	 	 	 	 	 	 
	 	 	 	 	page	 
	Section 3.05.
	 	Properties	 	 	50	 
	Section 3.06.
	 	Litigation and Environmental Matters	 	 	50	 
	Section 3.07.
	 	Compliance with Laws and Agreements	 	 	50	 
	Section 3.08.
	 	Federal Reserve Regulations	 	 	50	 
	Section 3.09.
	 	Investment Company Status	 	 	51	 
	Section 3.10.
	 	Taxes	 	 	51	 
	Section 3.11.
	 	ERISA	 	 	51	 
	Section 3.12.
	 	Disclosure	 	 	51	 
	Section 3.13.
	 	Commercial Activity	 	 	51	 
	Section 3.14.
	 	Pari Passu Ranking	 	 	52	 
	Section 3.15.
	 	Foreign Assets Control Regulations	 	 	52	 
	 
	ARTICLE IV CONDITIONS
	 	 	52	 
	 
	Section 4.01.
	 	Effective Date	 	 	52	 
	Section 4.02.
	 	Each Credit Event	 	 	53	 
	 
	ARTICLE V AFFIRMATIVE COVENANTS	 	 	53	 
	 
	Section 5.01.
	 	Financial Statements; Ratings Change and Other Information	 	 	53	 
	Section 5.02.
	 	Notices of Material Events	 	 	54	 
	Section 5.03.
	 	Existence; Conduct of Business	 	 	55	 
	Section 5.04.
	 	Payment of Obligations	 	 	55	 
	Section 5.05.
	 	Maintenance of Properties; Insurance	 	 	55	 
	Section 5.06.
	 	Books and Records; Inspection Rights	 	 	55	 
	Section 5.07.
	 	Compliance with Laws	 	 	56	 
	Section 5.08.
	 	Use of Proceeds	 	 	56	 
	Section 5.09.
	 	Existing HSBC Credit Agreement	 	 	56	 
	 
	ARTICLE VI NEGATIVE COVENANTS	 	 	56	 
	 
	Section 6.01.
	 	Liens	 	 	56	 
	Section 6.02.
	 	Fundamental Changes	 	 	57	 
	Section 6.03.
	 	Leverage Ratio	 	 	58	 
	 
	ARTICLE VII EVENTS OF DEFAULT	 	 	58	 
	 
	ARTICLE VIII THE AGENT	 	 	60	 
	 
	ARTICLE IX MISCELLANEOUS	 	 	63	 
	 
	Section 9.01.
	 	Notices	 	 	63	 

ii

 

TABLE OF CONTENTS

(cont’d.)

	 	 	 	 	 	 	 
	 	 	 	 	page	 
	Section 9.02.
	 	Waivers; Amendments	 	 	63	 
	Section 9.03.
	 	Expenses; Indemnity; Damage Waiver	 	 	64	 
	Section 9.04.
	 	Successors and Assigns	 	 	65	 
	Section 9.05.
	 	Survival	 	 	71	 
	Section 9.06.
	 	Counterparts; Integration; Effectiveness	 	 	71	 
	Section 9.07.
	 	Severability	 	 	71	 
	Section 9.08.
	 	Right of Setoff	 	 	71	 
	Section 9.09.
	 	Governing Law; Jurisdiction; Consent to Service of Process	 	 	72	 
	Section 9.10.
	 	WAIVER OF JURY TRIAL	 	 	72	 
	Section 9.11.
	 	Headings	 	 	73	 
	Section 9.12.
	 	Confidentiality	 	 	73	 
	Section 9.13.
	 	Interest Rate Limitation	 	 	73	 
	Section 9.14.
	 	USA Patriot Act	 	 	74	 
	Section 9.15.
	 	[Intentionally Omitted.]	 	 	74	 
	Section 9.16.
	 	No Advisory or Fiduciary Relationship	 	 	74	 
	Section 9.17.
	 	Judgment Currency	 	 	74	 
	Section 9.18.
	 	Payments Set Aside	 	 	75	 
	 
	ARTICLE X GUARANTY	 	 	75	 
	 
	Section 10.01.
	 	Guaranty	 	 	75	 
	Section 10.02.
	 	Guaranty Absolute	 	 	76	 
	Section 10.03.
	 	Payment of Guaranteed Obligations	 	 	77	 
	Section 10.04.
	 	Waiver	 	 	77	 

SCHEDULES:

Schedule 2.01 — Commitments

Schedule 9.01 — Notices

EXHIBITS:

	 	 	 	 	 

	Exhibit A
	 	—	 	Form of Assignment and Assumption
	Exhibit B
	 	—	 	Form of Note
	Exhibit C
	 	—	 	Form of Swing Line Loan Notice

iii

 

     CREDIT AGREEMENT dated as of July 19, 2010 among SHERWIN-WILLIAMS LUXEMBOURG S.À R.L., a
Luxembourg limited liability company organized under the laws of Luxembourg with registered office
at 13-15 avenue de la liberté L -1931 Luxembourg and with a share capital of EUR 1,055,000 (the
“Borrower”); THE SHERWIN-WILLIAMS COMPANY, an Ohio corporation (the “ Guarantor”,
and together with the Borrower, the “ Obligors”); the LENDERS party hereto; BANK OF AMERICA,
N.A., as Administrative Agent and L/C Issuer (such term and each other capitalized term used and
not otherwise defined herein having the meaning assigned to it in Article I); BANC OF
AMERICA SECURITIES LLC, as Sole Bookrunner and Joint Mandated Lead Arranger and HSBC SECURITIES
(USA) INC., as Joint Mandated Lead Arranger.

     The Borrower has requested the Lenders extend credit in an initial aggregate principal amount
of up to €200,000,000. The proceeds of borrowings hereunder are to be used for general corporate
purposes, including refinancing indebtedness and for acquisitions.

     The Lenders are willing to extend such credit to the Borrower on the terms and subject to the
conditions herein set forth.

     The Guarantor is willing to guarantee the obligations of the Borrower under the Loan Documents
on the terms herein set forth.

     Accordingly, the parties hereto agree as follows:

ARTICLE I

DEFINITIONS

     Section 1.01. Defined Terms. As used in this Agreement, the following terms have the
meanings specified below:

     “Adjusted LIBO Rate” means, with respect to any Loan for any Interest Period, an
interest rate per annum (rounded upwards, if necessary, to the next 1/100 of 1%) equal to (a) the
LIBO Rate for such Interest Period multiplied by (b) the Statutory Reserve Rate.

     “Administrative Questionnaire” means an Administrative Questionnaire in form and
substance approved by the 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.

     “Agent” means Bank of America, N.A., in its capacity as administrative agent for the
Lenders hereunder, and any successor administrative agent appointed pursuant to Article
VIII.

     “Agent’s Office” means the Agent’s address and, as appropriate, account as set forth
in Schedule 9.01 or such other address or account as the Agent may from time to time notify
the Borrower and the Lenders.

 

 

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

     “Agreement” means this Credit Agreement as the same may hereafter be modified,
supplemented or amended from time to time.

     “Applicable Percentage” means, with respect to any Lender, the percentage of the
Aggregate Revolving Commitments represented by such Lender’s Commitment. If the commitment of each
Lender to make Loans and the obligation of the L/C Issuer to make L/C Credit Extensions have been
terminated or if the Aggregate Revolving Commitments have expired, the Applicable Percentage of
each Lender shall be determined based upon the Applicable Percentage of such Lender most recently
in effect, giving effect to any assignments.

     “Applicable Rate” means, for any day, in connection with the commitment fees payable
hereunder, or in connection with the interest accruing on any Loans or fees payable with respect to
Letters of Credit, the applicable rate per annum set forth below under the caption “Revolving Loan
Commitment Fee”, “Term Loan Commitment Fee”, “Applicable Margin for Term Loans”, “Applicable Margin
for Revolving Credit Loans and Swing Line Loans” or “Letter of Credit Fee”, as the case may be,
based upon the ratings by S&P, Moody’s and Fitch, respectively, applicable on such date to the
Index Debt.

	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	Applicable Margin	 	 
	 	 	 	 	 	 	 	 	for Revolving	 	 
	Debt	 	Revolving Loan	 	Term Loan	 	Applicable Margin	 	Credit Loans and	 	 
	Rating	 	Commitment Fee	 	Commitment Fee	 	for Term Loans	 	Swing Line Loans	 	Letter of Credit Fee
	Category 1

A/A2/A or higher
	 	26.25 bps
	 	35.00 bps
	 	100 bps
	 	75 bps
	 	75 bps
	 	 	 	 	 	 	 	 	 	 	 
	Category 2

A-/A3/A-
	 	30.625 bps
	 	39.375 bps
	 	112.5 bps
	 	87.5 bps
	 	87.5 bps
	 	 	 	 	 	 	 	 	 	 	 
	Category 3

BBB+/Baa1/BBB+
	 	39.375 bps
	 	48.125 bps
	 	137.5 bps
	 	112.5 bps
	 	112.5 bps
	 	 	 	 	 	 	 	 	 	 	 
	Category 4

BBB/Baa2/BBB or
lower or unrated
	 	56.875 bps
	 	65.625 bps
	 	187.5 bps
	 	162.5 bps
	 	162.5 bps

     For purposes of the foregoing, subject to the last two sentences of this definition, (i) if
any of S&P, Moody’s or Fitch shall not have in effect a rating for the Index Debt (other than by
reason of the circumstances referred to in the last two sentences of this definition), then such
rating agency shall be deemed to have established a rating in Category 4; (ii) if the ratings
established or deemed to have been established by S&P, Moody’s and Fitch for the Index Debt

2

 

shall fall within different Categories, then (a) if two applicable ratings are equal and
higher than the third applicable rating, the Applicable Rate shall be based on the higher of the
applicable ratings, (b) if two applicable ratings are equal and lower than the third applicable
rating, the Applicable Rate shall be based on the lower of the applicable ratings and (c) if no
ratings are equal, the Applicable Rate shall be based on the intermediate applicable rating of the
three applicable ratings; and (iii) if the ratings established or deemed to have been established
by S&P, Moody’s and Fitch for the Index Debt shall be changed (other than as a result of a change
in the rating system of S&P, Moody’s or Fitch), such change shall be effective as of the date on
which it is first announced by the applicable rating agency. Each change in the Applicable Rate
shall apply during the period commencing on the effective date of such change and ending on the
date immediately preceding the effective date of the next such change. If the rating system of one
of S&P, Moody’s or Fitch shall change, or if any one of such rating agencies shall cease to be in
the business of rating corporate debt obligations, then for purposes of calculating the Applicable
Rate above, (i) if either of the two other rating agencies shall not have in effect a rating for
the Index Debt (other than by reason of the circumstances referred to in the last sentence of this
definition), then such rating agency shall be deemed to have established a rating in Category 4,
(ii) if the ratings established or deemed to have been established by the two other ratings
agencies for the Index Debt shall fall within different Categories, the Applicable Rate shall be
based on the higher of the two ratings unless one of the two ratings is two or more Categories
lower than the other, in which case the Applicable Rate shall be determined by reference to the
Category one level above the Category corresponding to the lower rating; and (iii) if the ratings
established or deemed to have been established by the two other ratings agencies for the Index Debt
shall be changed (other than as a result of a change in the rating system of any such rating
agency), such change shall be effective as of the date on which it is first announced by the
applicable rating agency. If the rating system of at least two of S&P, Moody’s or Fitch shall
change, or if at least two of any such rating agencies shall cease to be in the business of rating
corporate debt obligations, the Borrower and the Lenders shall negotiate in good faith to amend
this definition to reflect such changed rating systems or the unavailability of ratings from any
such rating agencies and, pending the effectiveness of any such amendment, the Applicable Rate
shall be determined by reference to the rating most recently in effect prior to such change or
cessation.

     “Approved Fund” has the meaning assigned to such term in Section 9.04.

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

     “Bank of America” means Bank of America, N.A. and its successors.

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

     “Borrower” has the meaning set forth in the preamble hereto.

3

 

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

     “Borrowing Request” means a request by the Borrower for a Borrowing of Revolving Loans
or the Term Loan in accordance with Section 2.03.

     “Business Day” means any day that is not a Saturday, Sunday or other day on which
commercial banks are authorized or required by law to remain closed in the state where the Agent’s
office is located; provided that, when used in connection with a Loan, the term “Business Day”
shall also exclude any day on which banks are not open for dealings in Euro deposits in the London
interbank market; provided, further, when used in connection with any Loan, the
term “Business Day” shall also exclude any day on which the Trans-European Automated RealTime Gross
Settlement Express Transfer System (TARGET) (or, if such clearing system ceases to be operative,
such other clearing system (if any) determined by the Agent to be a suitable replacement) is not
open for settlement of payment in Euros.

     “Capital Lease Obligations” of any Person means the obligations of such Person to pay
rent or other amounts under any lease of (or other arrangement conveying the right to use) real or
personal property, or a combination thereof, which obligations are required to be classified and
accounted for as capital leases on a balance sheet of such Person under GAAP, and the amount of
such obligations shall be the capitalized amount thereof determined in accordance with GAAP.

     “Cash Collateralize” means to pledge and deposit with or deliver to the Agent, for the
benefit of the Agent, L/C Issuer or Swing Line Lender (as applicable) and the Lenders, as
collateral for L/C Obligations, Obligations in respect of Swing Line Loans, or obligations of
Lenders to fund participations in respect of either thereof (as the context may require), cash or
deposit account balances or, if the L/C Issuer or Swing Line Lender benefitting from such
collateral shall agree in its sole discretion, other credit support, in each case pursuant to
documentation in form and substance satisfactory to (a) the Agent and (b) the L/C Issuer or the
Swing Line Lender (as applicable). “Cash Collateral” shall have a meaning correlative to the
foregoing and shall include the proceeds of such cash collateral and other credit support.

     “Change in 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), other than an
employee benefit or stock ownership plan of the Guarantor, of Equity Interests representing more
than 40% of the aggregate ordinary voting power represented by the issued and outstanding Equity
Interests of the Guarantor, (b) occupation of a majority of the seats (other than vacant seats) on
the board of directors of the Guarantor by Persons who were neither (i) nominated by the board of
directors of the Guarantor nor (ii) appointed by directors so nominated, or (c) the Borrower shall
cease to be a wholly-owned direct or indirect Subsidiary of the Guarantor.

     “Change in Law” means (a) the adoption of any law, rule or regulation after the date
of this Agreement, (b) any change in any law, rule or regulation or in the interpretation or
application thereof by any Governmental Authority after the date of this Agreement or (c)
compliance by any Lender (or, for purposes of Section 2.14(b), by any lending office of
such

4

 

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 Authority made or issued after the
date of this Agreement.

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

     “Commitment” means, as to each Lender, its obligation to (a) make Revolving Loans and
Term Loans to the Borrower pursuant to Section 2.01 and (b) purchase participations in L/C
Obligations, in an aggregate principal amount at any one time outstanding not to exceed the amount
set forth opposite such Lender’s name on Schedule 2.01 or in the Assignment and Assumption
pursuant to which such Lender becomes a party hereto, as applicable, as such amount may be adjusted
from time to time in accordance with this Agreement.

     “Consolidated EBITDA” means, for any period, for the Guarantor and the Subsidiaries on
a consolidated basis, an amount equal to consolidated net income of the Guarantor for such period
plus (a) to the extent deducted in calculating such consolidated net income, (i) consolidated
interest expense of the Guarantor for such period, (ii) consolidated income tax expense of the
Guarantor for such period, (iii) depreciation and amortization expense of the Guarantor and the
Subsidiaries for such period and (iv) any non-cash expenses or losses of the Guarantor and the
Subsidiaries for such period that are classified as extraordinary under GAAP; and minus (b)
to the extent included in calculating such consolidated net income, any extraordinary income or
gains of the Guarantor and the Subsidiaries for such period, all computed in accordance with GAAP.

     “Consolidated Net Revenue” means, for any period, the net revenue of the Guarantor and
its Subsidiaries for such period, determined on a consolidated basis in accordance with GAAP.

     “Consolidated Net Worth” means, on any date, the shareholders’ equity of the Guarantor
on such date, determined in accordance with GAAP.

     “Consolidated Total Assets” means, on any date, the aggregate amount of assets of the
Guarantor and its Subsidiaries determined on a consolidated basis in accordance with GAAP.

     “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.

     “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 which constitutes an Event of Default or which
upon notice, lapse of time or both would, unless cured or waived, become an Event of Default.

5

 

     “Default Rate” means (a) in the case of overdue principal of any Loan, 2% plus the
rate otherwise applicable to such Loan as provided for in Section 2.12, (b) in the case of
any other overdue amount (other than Letter of Credit Fees), 2% plus the rate of interest otherwise
applicable thereto (or if no rate of interest is applicable thereto, the average rate applicable to
the Term Loans at such time) and (c) when used with respect to Letter of Credit fees, a rate equal
to the Applicable Rate plus 2% per annum.

     “Defaulting Lender” means, subject to Section 2.19(b), any Lender that, as
determined by the Agent, (a) has failed to perform any of its funding obligations hereunder,
including in respect of its Loans or participations in respect of Letters of Credit or Swing Line
Loans, within one Business Day of the date required to be funded by it hereunder, (b) has notified
the Borrower, the Agent or any Lender that it does not intend to comply with its funding
obligations or has made a public statement to that effect with respect to its funding obligations
hereunder or under other agreements in which it commits to extend credit, (c) has failed, within
one Business Day after request by the Agent, to confirm in a manner satisfactory to the Agent that
it will comply with its funding obligations, or (d) has, or has a direct or indirect parent company
that has, (i) become the subject of a proceeding under any Debtor Relief Law, (ii) had a receiver,
conservator, trustee, administrator, assignee for the benefit of creditors or similar Person
charged with reorganization or liquidation of its business or a custodian appointed for it, or
(iii) taken any action in furtherance of, or indicated its consent to, approval of or acquiescence
in any such proceeding or appointment; provided that a Lender shall not be a Defaulting Lender
solely by virtue of the ownership or acquisition of any equity interest in that Lender or any
direct or indirect parent company thereof by a Governmental Authority.

     “dollars” or “ $” refers to lawful money of the United States of America.

     “Effective Date” means the date on which the conditions specified in Section
4.01 are satisfied (or waived in accordance with Section 9.02), which date is July 19,
2010.

     “EMU Legislation” means the legislative measures of the European Council for the
introduction of, changeover to or operation of a single or unified European currency.

     “Environmental Laws” means all laws, rules, regulations, codes, ordinances, orders,
decrees, judgments, injunctions or binding agreements issued, promulgated or entered into by any
Governmental Authority, relating in any way to the environment, preservation or reclamation of
natural resources, the management, release or threatened release of any Hazardous Material.

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

6

 

     “Equity Interests” means shares of capital stock, partnership interests, membership
interests in a limited liability company or shares (parts socials) in a Luxembourg limited
liability company (société à responsabilité limitée), beneficial interests in a trust or other
equity ownership interests in a Person, and any warrants, options or other rights entitling the
holder thereof to purchase or acquire any such equity interest.

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

     “ERISA Affiliate” means any trade or business (whether or not incorporated) under
common control with the Guarantor within the meaning of Section 414(b) or (c) of the Code (and
414(m) and (o) of the Code for purposes of provisions relating to Section 412 of the Code).

     “ERISA Event” means (a) a Reportable Event with respect to a Pension Plan; (b) the
withdrawal of the Guarantor or any ERISA Affiliate from a Pension Plan subject to Section 4063 of
ERISA during a plan year in which such entity was a “substantial employer” as defined in Section
4001(a)(2) of ERISA or a cessation of operations that is treated as such a withdrawal under Section
4062(e) of ERISA; (c) a complete or partial withdrawal by the Guarantor or any ERISA Affiliate from
a Multiemployer Plan or notification that a Multiemployer Plan is in reorganization; (d) the filing
of a notice of intent to terminate, the treatment of a Pension Plan amendment as a termination
under Section 4041 or 4041A of ERISA; (e) the institution by the PBGC of proceedings to terminate a
Pension Plan; (f) any event or condition which constitutes grounds under Section 4042 of ERISA for
the termination of, or the appointment of a trustee to administer, any Pension Plan; (g) the
determination that any Pension Plan is considered an at-risk plan or a plan in endangered or
critical status within the meaning of Sections 430, 431 and 432 of the Code or Sections 303, 304
and 305 of ERISA; or (h) the imposition of any liability under Title IV of ERISA, other than for
PBGC premiums due but not delinquent under Section 4007 of ERISA, upon the Guarantor or any ERISA
Affiliate.

     “Euro” and “ EUR” and “ €” mean the lawful currency of the Participating
Member States introduced in accordance with the EMU Legislation.

     “Event of Default” has the meaning assigned to such term in Article VII.

     “Excluded Taxes” means, with respect to the Agent, any Lender, the L/C Issuer or any
other recipient of any payment to be made by or on account of any obligation of the Obligors
hereunder, (a) income or franchise taxes imposed on (or measured by) its net income by any
Governmental Authority of the jurisdiction (or any political subdivision thereof) under the Laws of
which the Agent, such Lender, the L/C Issuer or recipient, as the case may be, is organized or
maintains its lending office, (b) any branch profits taxes imposed by any Governmental Authority of
the jurisdiction (or any political subdivision thereof) under the Laws of which the Agent, such
Lender, the L/C Issuer or recipient, as the case may be, is organized or maintains its lending
office, (c) in the case of a Foreign Lender (other than an assignee pursuant to a request by the
Borrower under Section 2.18), any withholding tax that is imposed on amounts payable to
such Foreign Lender that are in effect at the time such Foreign Lender becomes a party to this
Agreement (or designates a new lending office), 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

7

 

assignment), to receive additional amounts from the Obligors with respect to such withholding
tax pursuant to Section 2.16(a) and (d) in the case of any Lender, any withholding
tax that is imposed on amounts payable to such Lender that are attributable to such Lender’s
failure to comply with Section 2.16(e), or to the extent that the forms deliverable
pursuant to such Section 2.16(e) fail to establish a complete exemption from withholding
tax, other than as a result of a Change in Law.

     “Existing HSBC Credit Agreement” means that certain Credit Agreement, dated as of
March 30, 2010, by and among the Borrower, the Guarantor, the lenders party thereto and HSBC Bank
USA, National Association, as administrative agent, as the same may be amended, restated or
otherwise modified from time to time.

     “Federal Funds Rate” means, for any day, the weighted average (rounded upwards, if
necessary, to the next 1/100 of 1%) of the rates on overnight Federal funds transactions with
members of the Federal Reserve System arranged by Federal funds brokers, as published on the next
succeeding Business Day by the Federal Reserve Bank of New York, or, if such rate is not so
published for any day that is a Business Day, the average (rounded upwards, if necessary, to the
next 1/100 of 1%) of the quotations for such day for such transactions received by the Agent from
three Federal funds brokers of recognized standing selected by it.

     “Financial Officer” means, with respect to any corporate Person, the chief financial
officer, principal accounting officer, treasurer, or controller of such Person (or, in the case of
the Borrower, a member of the board of managers or the sole manager of such Person).

     “Fitch” means Fitch, Inc.

     “Foreign Lender” means any Lender that is organized under the laws of a jurisdiction
other than that in which the Borrower or the Guarantor, as applicable, is located (including such
Lender when acting in the capacity of the L/C Issuer). For purposes of this definition, the United
States of America, each State thereof and the District of Columbia shall be deemed to constitute a
single jurisdiction.

     “Fronting Exposure” means, at any time there is a Defaulting Lender, (a) with respect
to the L/C Issuer, such Defaulting Lender’s Applicable Percentage of the outstanding L/C
Obligations other than L/C Obligations as to which such Defaulting Lender’s participation
obligation has been reallocated to other Lenders or Cash Collateralized in accordance with the
terms hereof, and (b) with respect to the Swing Line Lender, such Defaulting Lender’s Applicable
Percentage of Swing Line Loans other than Swing Line Loans as to which such Defaulting Lender’s
participation obligation has been reallocated to other Lenders or Cash Collateralized in accordance
with the terms hereof.

     “GAAP” means U.S. generally accepted accounting principles; provided that, if any
changes in U.S. generally accepted accounting principles from those used in the preparation of the
audited consolidated financial statements of the Borrower referred to in Section 3.04 occur
by reason of any change in the rules, regulations, pronouncements, opinions or other requirements
of the Financial Accounting Standards Board (FASB) (or any successor thereto or agency with similar
function), or if the Borrower adopts the International Financial Reporting

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Standards, and such change in accounting principles and/or adoption of such standards results
in a change in the method or results of calculation of financial covenants and/or defined terms
contained in this Agreement, then at the option of the Required Lenders or the Borrower, the
parties will enter into good faith negotiations to amend such financial covenants and/or defined
terms in such manner as the parties shall agree, each acting reasonably, in order to reflect fairly
such changes and/or adoption so that the criteria for evaluating the financial condition of the
Borrower shall be the same in commercial effect after, as well as before, such changes and/or
adoption are made (in which case the method and calculation of financial covenants and/or the
defined terms related thereto hereunder shall be determined in the manner so agreed).

     “Governmental Authority” means the government of the United States of America, any
other nation or any political subdivision thereof, whether state or local, and any agency,
authority, instrumentality, regulatory body, court, central bank or other entity exercising
executive, legislative, judicial, taxing, regulatory or administrative powers or functions of or
pertaining to government.

     “Guarantee” of or by any Person (the “guarantor”) means any obligation, contingent or
otherwise, of the guarantor guaranteeing or having the economic effect of guaranteeing any
Indebtedness or other obligation of any other Person (the “primary obligor”) in any manner, whether
directly or indirectly, and including any obligation of the guarantor, direct or indirect, (a) to
purchase or pay (or advance or supply funds for the purchase or payment of) such Indebtedness or
other obligation or to purchase (or to advance or supply funds for the purchase of) any security
for the payment thereof, (b) to purchase or lease property, securities or services for the purpose
of assuring the owner of such Indebtedness or other obligation of the payment thereof, (c) to
maintain working capital, equity capital or any other financial statement condition or liquidity of
the primary obligor so as to enable the primary obligor to pay such Indebtedness or other
obligation or (d) as an account party in respect of any letter of credit or letter of guaranty
issued to support such Indebtedness or obligation; provided, that the term Guarantee shall not
include endorsements for collection or deposit in the ordinary course of business. For purposes
hereof, the amount of any Guarantee shall be deemed to be an amount equal to the stated or
determinable amount of the related primary obligations, or portion thereof, in respect of which
such Guarantee is made or, if not stated or determinable, the maximum reasonably anticipated
liability in respect thereof as determined by the guarantor in good faith.

     “Guaranteed Obligations” has the meaning set forth in Section 10.01.

     “Guarantor” has the meaning set forth in the preamble hereto.

     “Hazardous Materials” means all explosive or radioactive substances or wastes and all
hazardous or toxic substances, wastes or other pollutants, including petroleum or petroleum
distillates, asbestos or asbestos containing materials, polychlorinated biphenyls, radon gas,
infectious or medical wastes and all other substances or wastes of any nature regulated pursuant to
any Environmental Law.

     “Hedging Agreement” means any agreement with respect to any swap, forward, future or
derivative transaction or option or similar agreement involving, or settled by reference to, one or
more rates, currencies or prices of commodities, equity or debt instruments or securities, or

9

 

economic, financial or pricing indices or measures of economic, financial or pricing risk or
value, or any similar transaction or any combination of such transactions; provided that no phantom
stock or similar plan providing for payments only on account of services provided by current or
former directors, officers, employees or consultants of the Guarantor or the Subsidiaries shall be
a Hedging Agreement. The amount of the obligations of the Borrower or any Subsidiary in respect of
any Hedging Agreement at any time shall be the maximum aggregate amount (giving effect to any
netting agreements) that the Guarantor or such Subsidiary would be required to pay if such Hedging
Agreement were terminated at such time.

     “Honor Date” has the meaning set forth in Section 2.05(c)(i).

     “Indebtedness” of any Person means, without duplication, (a) all obligations of such
Person for borrowed money, (b) all obligations of such Person evidenced by bonds, debentures, notes
or similar instruments, (c) all obligations of such Person under conditional sale or other title
retention agreements relating to property acquired by such Person, (d) all obligations of such
Person in respect of the deferred purchase price of property or services, (e) all Indebtedness of
others secured by (or for which the holder of such Indebtedness has an existing right, contingent
or otherwise, to be secured by) any Lien on property owned or acquired by such Person, whether or
not the Indebtedness secured thereby has been assumed, (f) all Guarantees by such Person of
Indebtedness of others, (g) all Capital Lease Obligations of such Person, and (h) all obligations,
contingent or otherwise, of such Person as an account party in respect of letters of credit,
letters of guaranty and banker’s acceptances; provided, however, that Indebtedness of any Person
shall not include (i) trade payables, (ii) any obligations of such Person incurred in connection
with letters of credit, letters of guaranty or similar instruments obtained or created in the
ordinary course of business to support obligations of such Person that do not constitute
Indebtedness or (iii) endorsements of checks, bills of exchange and other instruments for deposit
or collection in the ordinary course of business.

     “Indemnified Taxes” means Taxes (other than Excluded Taxes) and Other Taxes.

     “Index Debt” means senior, unsecured, long-term indebtedness for borrowed money of the
Guarantor that is not guaranteed by any other Person or subject to any other credit enhancement.

     “Interest Election Request” means a request by the Borrower to choose an Interest
Period or continue a Borrowing in accordance with Section 2.05.

     “Interest Payment Date” means with respect to any Loan, the last day of the Interest
Period applicable thereto, in the case of an Interest Period of more than three months’ duration,
each day prior to the last day of such Interest Period that occurs at intervals of three months’
duration after the first day of such Interest Period.

     “Interest Period” means with respect to any Borrowing the period commencing on the
date such Borrowing is made, or the last day of the preceding Interest Period for such Borrowing,
and ending on the numerically corresponding day in the calendar month that is one, two, or three
months (or such other period as the Agent and the Lenders agree) thereafter, as the Borrower may
elect provided, that (a) if any Interest Period would end on a day other than a Business Day,

10

 

such Interest Period shall be extended to the next succeeding Business Day unless such next
succeeding Business Day would fall in the next calendar month, in which case such Interest Period
shall end on the next preceding Business Day, (b) any Interest Period that commences on the last
Business Day of a calendar month (or on a day for which there is no numerically corresponding day
in the last calendar month of such Interest Period) shall end on the last Business Day of the last
calendar month of such Interest Period, and (c) any Interest Period that would otherwise end after
the Maturity Date shall end on the Maturity Date.

     “ISP” means, with respect to any Letter of Credit, the “International Standby
Practices 1998” published by the Institute of International Banking Law & Practice, Inc. (or such
later version thereof as may be in effect at the time of issuance).

     “Issuer Documents” means with respect to any Letter of Credit, the Letter of Credit
Application, and any other document, agreement and instrument entered into by the L/C Issuer and
the Borrower (or any Subsidiary) or in favor of the L/C Issuer and relating to such Letter of
Credit.

     “Joint Lead Arrangers” means Banc of America Securities, LLC and HSBC Securities (USA)
Inc.

     “L/C Advance” means, with respect to each Lender, such Lender’s funding of its
participation in any L/C Borrowing in accordance with its Applicable Percentage.

     “L/C Borrowing” means an extension of credit resulting from a drawing under any Letter
of Credit which has not been reimbursed on the date when made or refinanced as a Borrowing of
Revolving Loans.

     “L/C Credit Extension” means, with respect to any Letter of Credit, the issuance
thereof or extension of the expiry date thereof, or the increase of the amount thereof.

     “L/C Issuer” means Bank of America in its capacity as issuer of Letters of Credit
hereunder and any of its Affiliates or any successor issuer of Letters of Credit hereunder.

     “L/C Obligations” means, as at any date of determination, the aggregate amount
available to be drawn under all outstanding Letters of Credit plus the aggregate of all
Unreimbursed Amounts, including all L/C Borrowings. For purposes of computing the amount available
to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in
accordance with Section 1.04. For all purposes of this Agreement, if on any date of
determination a Letter of Credit has expired by its terms but any amount may still be drawn
thereunder by reason of the operation of Rule 3.14 of the ISP, such Letter of Credit shall be
deemed to be “outstanding” in the amount so remaining available to be drawn.

     “Lenders” means (a) the Persons listed on Schedule 2.01 and (b) any other
Person that shall have become a party hereto pursuant to an Assignment and Assumption, other than,
in the case of either of the foregoing, any such Person that ceases to be a party hereto pursuant
to an Assignment and Assumption.

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     “Letter of Credit” means any standby letters of credit, bank guaranties or other
similar forms of credit issued hereunder.

     “Letter of Credit Application” means an application and agreement for the issuance or
amendment of a Letter of Credit in the form from time to time in use by the L/C Issuer.

     “Letter of Credit Expiration Date” means the day that is seven days prior to the
Maturity Date then in effect (or, if such day is not a Business Day, the next preceding Business
Day).

     “Letter of Credit Fee” has the meaning specified in Section 2.05(h).

     “Letter of Credit Sublimit” means an amount equal to the lesser of (a) the Aggregate
Revolving Commitments and (b) EUR25,000,000. The Letter of Credit Sublimit is part of, and not in
addition to, the Aggregate Revolving Commitments.

     “Leverage Ratio” means, on any date, the ratio of (a) Total Indebtedness at such date
to (b) Consolidated EBITDA for the period of four consecutive quarters ended on or most recently
prior to such date.

     “LIBO Rate” means, with respect to any Borrowing for any Interest Period, the rate per
annum equal to the British Bankers Association LIBOR Rate (“BBA LIBOR”), as published by
Reuters (or other comparable available source providing quotations of BBA LIBOR as designated by
the Agent from time to time for purposes of providing quotations of interest rates applicable to
Euro deposits in the London interbank market) at approximately 11:00 a.m., London time, two
Business Days prior to the commencement of such Interest Period, as the rate for Euro deposits with
a maturity comparable to such Interest Period. In the event that such rate is not available at
such time for any reason, then the “LIBO Rate” with respect to such Borrowing for such Interest
Period shall be the rate per annum determined by the Agent to be the rate at which Euro deposits
for delivery on the first day of such Interest Period in same day funds in the approximate amount
of such Loan with a term equivalent to such Interest Period would be offered by Bank of America’s
London Branch to major banks in the London interbank eurodollar market at their request at
approximately 11:00 a.m., London time, two Business Days prior to the commencement of such Interest
Period.

     “Lien” means, with respect to any asset, any mortgage, lien, pledge, charge, security
interest or encumbrance of any kind in respect of such asset. For the purposes of this Agreement,
the Guarantor or any Subsidiary shall be deemed to own subject to a Lien any asset which it has
acquired or holds subject to the interest of a vendor or lessor under any conditional sale
agreement, capital lease or other title retention agreement relating to such asset.

     “Loan” and “Loans” means the loans made by the Lenders to the Borrower
pursuant to this Agreement, including Revolving Loans, Term Loans and Swing Line Loans.

     “Loan Documents” means this Agreement, each Note and each Issuer Document.

     “Margin Stock” shall have the meaning given such term under Regulation U.

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     “Material Adverse Effect” means an event or circumstance that constitutes a material
adverse effect on (a) the business, operations or condition, financial or otherwise, of the
Guarantor and the Subsidiaries taken as a whole, (b) the ability of either Obligor to perform any
of its material obligations under this Agreement or (c) the legality, validity, binding effect or
enforceability against either Obligor of this Agreement.

     “Material Indebtedness” means Indebtedness (other than the Loans), or obligations in
respect of one or more Hedging Agreements, of any one or more of the Guarantor and its Subsidiaries
in an aggregate principal amount exceeding $50,000,000. For purposes of determining Material
Indebtedness, the “principal amount” of the obligations of the Guarantor or any Subsidiary in
respect of any Hedging Agreement at any time shall be the maximum aggregate amount (giving effect
to any netting agreements) that the Guarantor or such Subsidiary would be required to pay if such
Hedging Agreement were terminated at such time.

     “Material Subsidiary” means, at any time, (a) each Subsidiary that would be a
“significant subsidiary” within the meaning of Rule 1-02 under Regulation S-X promulgated by the
Securities and Exchange Commission, (b) each other Subsidiary designated as a “designated
subsidiary” by the Guarantor, and (c) the Borrower. The Guarantor will designate one or more
Subsidiaries as “designated subsidiaries” when and as necessary in order that there will at no time
be two or more Subsidiaries that are not Material Subsidiaries under the preceding sentence that,
if considered together as a single Subsidiary, would cause the total for all such Subsidiaries to
exceed 20% of either (i) Consolidated Total Assets at such time or (ii) Consolidated Net Revenue
for the period of four calendar quarters ended at or most recently prior to such time.

     “Maturity Date” means (a) with respect to the Revolving Loans, July 19, 2013, or any
later date to which the Maturity Date applicable to the Revolving Commitments may be extended
pursuant to Section 2.08(d), and (b) with respect to the Term Loans, July 19, 2013.

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

     “Multiemployer Plan” means any employee benefit plan of the type described in Section
4001(a)(3) of ERISA, to which the Guarantor or any ERISA Affiliate makes or is obligated to make
contributions, or during the preceding five plan years, has made or been obligated to make
contributions.

     “Multiple Employer Plan” means a Plan which has two or more contributing sponsors
(including the Guarantor or any ERISA Affiliate) at least two of whom are not under common control,
as such a plan is described in Section 4064 of ERISA.

     “Note” means a promissory note made by the Borrower in favor of a Lender evidencing
Loans, substantially in the form of Exhibit B.

     “Obligors” has the meaning set forth in the preamble hereto.

     “Other Taxes” means any and all present or future stamp or documentary taxes or any
other excise or property taxes, charges or similar levies (but excluding any tax, charge or levy
that constitutes an Excluded Tax) arising from any payment made hereunder or from the execution,
delivery or enforcement of, or otherwise with respect to, this Agreement.

13

 

     “Outstanding Amount” means (i) with respect to Revolving Loans, Term Loans and Swing
Line Loans on any date, the aggregate outstanding principal amount thereof after giving effect to
any borrowings and prepayments or repayments of the Revolving Loans, Term Loans and Swing Line
Loans, as the case may be, occurring on such date; and (ii) with respect to any L/C Obligations on
any date, the amount of such L/C Obligations on such date after giving effect to any L/C Credit
Extension occurring on such date and any other changes in the aggregate amount of the L/C
Obligations as of such date, including as a result of any reimbursements by the Borrower of
Unreimbursed Amounts.

     “Participant” has the meaning set forth in Section 9.04.

     “Participating Member State” means each state so described in any EMU Legislation.

     “PBGC” means the Pension Benefit Guaranty Corporation referred to and defined in ERISA
and any successor entity performing similar functions.

     “Pension Plan” means any employee pension benefit plan (including a Multiple Employer
Plan or a Multiemployer Plan) that is maintained or is contributed to by the Guarantor and any
ERISA Affiliate and is either covered by Title IV of ERISA or is subject to the minimum funding
standards under Section 412 of the Code.

     “Permitted Encumbrances” means:

     (a) Liens imposed by law for taxes, assessments and governmental charges or levies that
are not yet due or are being contested in compliance with Section 5.04;

     (b) carriers’, warehousemen’s, mechanics’, materialmen’s, repairmen’s, landlord’s and
other like Liens imposed by law and arising in the ordinary course of business that do not
materially detract from the Borrower’s assets or materially impair the use thereof in the
ordinary course of business or are being contested in compliance with Section 5.04;

     (c) pledges and deposits made in the ordinary course of business in compliance with
workers’ compensation, unemployment insurance and other social security laws or regulations;

     (d) deposits to secure the performance of bids, trade contracts, leases, statutory
obligations, surety and appeal bonds, performance bonds and other obligations of a like
nature, in each case in the ordinary course of business;

     (e) liens in favor of the United States of America or any department or agency thereof,
or in favor of any state government or political subdivision thereof, or in favor of a prime
contractor under a government contract of the United States, or of a state government or
political subdivision thereof, in each case resulting from the acceptance of partial,
progress, advance or other payments in the ordinary course of business under government
contracts of the United States, or of a state government or political subdivision thereof,
or subcontracts thereunder;

14

 

     (f) judgment liens in respect of judgments that do not constitute an Event of Default
under clause (k) of Article VII;

     (g) easements, zoning restrictions, rights-of-way and similar encumbrances on real
property imposed by law or arising in the ordinary course of business that do not secure any
monetary obligations and do not materially detract from the value of the affected property
or interfere with the ordinary conduct of business of the Guarantor or any Subsidiary; and

     (h) other Liens incidental to the conduct of the business of the Guarantor or any
Subsidiary or the ownership of the property or assets of the Guarantor or such Subsidiary
that do not in the aggregate materially detract from the value of such properties or assets
or materially impair the use thereof in the operation of the business of the Guarantor or
such Subsidiary;

provided that the term “Permitted Encumbrances” shall not include any Lien securing
Indebtedness.

     “Person” means an individual, a corporation, a partnership, a limited liability
company, a limited liability partnership, an association, a trust or any other entity or
organization, including a government or political subdivision or an agency or instrumentality
thereof.

     “Plan” means any employee benefit plan within the meaning of Section 3(3) of ERISA
(including a Pension Plan), maintained for employees of the Obligors or any ERISA Affiliate or any
such Plan to which the Obligors or any ERISA Affiliate is required to contribute on behalf of any
of its employees.

     “Register” has the meaning set forth in Section 9.04.

     “Registration Duty” means a duty levied upon the prior registration, as may be
requested by a Luxembourg court, of a document if that document were to be produced in a Luxembourg
court action, equal to a fixed amount of EUR 12 or an ad valorem duty of 0.24% of the amount of
the payment obligation mentioned under such document.

     “Regulation U” shall mean Regulation U of the Board, as the same is from time to time
in effect, and all official rulings and interpretations thereunder or thereof.

     “Regulation X” shall mean Regulation X of the Board, as the same is from time to time
in effect, and all official rulings and interpretations thereunder or thereof.

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

     “Reportable Event” means any of the events set forth in Section 4043(c) of ERISA,
other than events for which the 30 day notice period has been waived.

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     “Required Lenders” means, at any time, Lenders holding in the aggregate more than 50%
of (a) the unfunded Commitments and the aggregate outstanding principal amount of Loans or (b) if
the Commitments have been terminated, the aggregate outstanding principal amount of Loans. The
unfunded Commitments of, and the outstanding principal amount of Loans held or deemed held by, any
Defaulting Lender shall be excluded for purposes of making a determination of Required Lenders.

     “Revolving Commitment” means, as to each Lender, its obligation to (a) make Revolving
Loans to the Borrower pursuant to Section 2.01(a) and (b) to purchase participations in L/C
Obligations and Swing Line Loans, in an aggregate principal amount at any one time outstanding not
to exceed the amount set forth opposite such Lender’s name on Schedule 2.01 or in the
Assignment and Assumption pursuant to which such Lender becomes a party hereto, as applicable, as
such amount may be adjusted from time to time in accordance with this Agreement. The amount of the
total Revolving Commitments in effect on the Effective Date is FIFTY MILLION EUROS (EUR50,000,000).

     “Revolving Credit Exposure” means, with respect to any Lender at any time, the sum of
the outstanding principal amount of such Lender’s Revolving Loans and such Lender’s Applicable
Percentage of outstanding Letters of Credit and Swing Line Loans at such time.

     “Revolving Loan” has the meaning specified in Section 2.01(a).

     “Revolving Loan Availability Period” means, with respect to the Revolving Commitments,
the period from and including the Effective Date to but excluding the earlier of (a) the Maturity
Date, (b) the date of the termination of the Revolving Commitments pursuant to Section 2.08 and (c)
the date of termination of the commitment of each Lender to make Revolving Loans and the obligation
of the L/C Issuer to make L/C Credit Extensions pursuant to Article VII.

     “Revolving Loan Borrowing” means a borrowing of Revolving Loans made by the Lenders
pursuant to Section 2.01(a).

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

     “Securitization Transaction” means any transfer by the Guarantor or any Subsidiary of
accounts receivable or interests therein (a) to a trust, partnership, corporation or other entity,
which transfer is funded in whole or in part, directly or indirectly, by the incurrence or issuance
by the transferee or any successor transferee of Indebtedness or securities that are to receive
payments from, or that represent interests in, the cash flow derived from such accounts receivable
or interests, or (b) directly to one or more investors or other purchasers. The amount of any
Securitization Transaction shall be deemed at any time to be the aggregate principal or stated
amount of the Indebtedness or other securities referred to in the preceding sentence or, if there
shall be no such principal or stated amount, the uncollected amount of the accounts receivable or
interests therein transferred to the ultimate investors or other purchasers pursuant to such
Securitization Transaction net of any such accounts receivable that have been written off as
uncollectible.

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     “Statutory Reserve Rate” means a fraction (expressed as a decimal), the numerator of
which is the number one and the denominator of which is the number one minus the aggregate of the
maximum reserve percentages (including any marginal, special, emergency or supplemental reserves)
expressed as a decimal established by the Board to which the Agent is subject for eurocurrency
funding (currently referred to as “Eurocurrency Liabilities” in Regulation D of the Board). Such
reserve percentages shall include those imposed pursuant to such Regulation D. Loans shall be
deemed to constitute eurocurrency funding and to be subject to such reserve requirements without
benefit of or credit for proration, exemptions or offsets that may be available from time to time
to any Lender under such Regulation D or any comparable regulation. The Statutory Reserve Rate
shall be adjusted automatically on and as of the effective date of any change in any reserve
percentage.

     “subsidiary” means, with respect to any Person (the “parent”) at any date, any
corporation, limited liability company, partnership, association or other entity the accounts of
which would be consolidated with those of the parent in the parent’s consolidated financial
statements if such financial statements were prepared in accordance with GAAP, as well as any other
corporation, limited liability company, partnership, association or other entity of which
securities or other ownership interests representing more than 50% of the equity or more than 50%
of the ordinary voting power or, in the case of a partnership, more than 50% of the general
partnership interests are, as of such date, owned by the parent or one or more subsidiaries of the
parent or by the parent and one or more subsidiaries of the parent.

     “Subsidiary” means any subsidiary of the Guarantor.

     “Swing Line Borrowing” means a borrowing of a Swing Line Loan pursuant to Section
2.06.

     “Swing Line Lender” means Banc of America Securities Limited in its capacity as
provider of Swing Line Loans, or any successor swing line lender hereunder.

     “Swing Line Loan” has the meaning specified in Section 2.06(a).

     “Swing Line Notice” means a notice of a Swing Line Borrowing pursuant to Section
2.05(b) which, if in writing, shall be substantially in the form of Exhibit C.

     “Swing Line Sublimit” means an amount equal to the lesser of (a) the Aggregate
Revolving Commitments and (b) EUR15,000,000.

     “Taxes” means any and all present or future taxes, levies, imposts, duties,
deductions, charges or withholdings imposed by any Governmental Authority.

     “Term Loan” has the meaning specified in Section 2.01(b).

     “Term Loan Availability Period” means, with respect to the Term Loan Commitments, the
period from and including the Effective Date to December 31, 2010.

     “Term Loan Borrowing” means a borrowing of Term Loans pursuant to Section
2.01(b).

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     “Term Loan Commitment” means, as to each Lender, its obligation to make its portion of
the Term Loans to the Borrower pursuant to Section 2.01(b), in the aggregate principal
amount set forth opposite such Lender’s name on Schedule 2.01 or in the Assignment and
Assumption pursuant to which such Lender becomes a party hereto, as applicable. The aggregate
principal amount of the Term Loan Commitments of all of the Lenders as in effect on the Effective
Date is ONE HUNDRED FIFTY MILLION EUROS (EUR150,000,000).

     “Term Loan Draws” means sum of the initial aggregate principal amount of each Loan
consisting of Term Loans.

     “Total Indebtedness” means all Indebtedness of the Guarantor and the Subsidiaries,
determined on a consolidated basis in accordance with GAAP consistently applied.

     “Total Revolving Outstandings” means the aggregate Outstanding Amount of all Revolving
Loans, all Swing Line Loans and all L/C Obligations.

     “Transactions” means the execution, delivery and performance by each Obligor of this
Agreement, the borrowing of Loans hereunder and the use of the proceeds thereof.

     “Unreimbursed Amount” has the meaning specified in Section 2.05(c)(i).

     “USA Patriot Act” means the Uniting and Strengthening America by Providing Appropriate
Tools Required to Intercept and Obstruct Terrorism Act of 2001.

     “Withdrawal Liability” means liability to a Multiemployer Plan as a result of a
complete or partial withdrawal from such Multiemployer Plan, as such terms are defined in Part I of
Subtitle E of Title IV of ERISA.

     Section 1.02. Terms Generally. The definitions of terms herein shall apply equally
to the singular and plural forms of the terms defined. Whenever the context may require, any
pronoun shall include the corresponding masculine, feminine and neuter forms. The words “include”,
“includes” and “including” shall be deemed to be followed by the phrase “without limitation”. The
word “will” shall be construed to have the same meaning and effect as the word “shall”. Unless the
context requires otherwise (a) any definition of or reference to any agreement, instrument or other
document herein shall be construed as referring to such agreement, instrument or other document as
from time to time amended, supplemented or otherwise modified (subject to any restrictions on such
amendments, supplements or modifications set forth herein), (b) any reference herein to any Person
shall be construed to include such Person’s successors and assigns, (c) the words “herein”,
“hereof” and “hereunder”, and words of similar import, shall be construed to refer to this
Agreement in its entirety and not to any particular provision hereof, (d) all references herein to
Articles, Sections, Exhibits and Schedules shall be construed to refer to Articles and Sections of,
and Exhibits and Schedules to, this Agreement and (e) the words “asset” and “property” shall be
construed to have the same meaning and effect and to refer to any and all tangible and intangible
assets and properties, including cash, securities, accounts and contract rights.

     Section 1.03. Accounting Terms; GAAP. Except as otherwise expressly provided herein,
all terms of an accounting or financial nature shall be construed in accordance with

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GAAP, as in effect from time to time; provided that, if the Borrower notifies the Agent that
the Borrower requests an amendment to any provision hereof to eliminate the effect of any change
occurring after the date hereof in GAAP or in the application thereof on the operation of such
provision (or if the Agent notifies the Borrower that the Required Lenders request an amendment to
any provision hereof for such purpose), regardless of whether any such notice is given before or
after such change in GAAP or in the application thereof, then such provision shall be interpreted
on the basis of GAAP as in effect and applied immediately before such change shall have become
effective until such notice shall have been withdrawn or such provision amended in accordance
herewith.

     Section 1.04. Letter of Credit Amounts. Unless otherwise specified herein, the
amount of a Letter of Credit at any time shall be deemed to be the stated amount of such Letter of
Credit in effect at such time; provided, however, that with respect to any Letter of Credit that,
by its terms or the terms of any Issuer Document related thereto, provides for one or more
automatic increases in the stated amount thereof, the amount of such Letter of Credit shall be
deemed to be the maximum stated amount of such Letter of Credit after giving effect to all such
increases, whether or not such maximum stated amount is in effect at such time.

ARTICLE II

THE LOANS

     Section 2.01. Loans.

     (a) Revolving Loans. Subject to the terms and conditions set forth herein,
each Lender agrees to make loans (each such loan, a “Revolving Loan” and
collectively, the “Revolving Loans”) to the Borrower from time to time during the
Revolving Loan Availability Period in an aggregate principal amount that will not exceed at
any time outstanding the amount of such Lender’s Revolving Commitment; provided that after
giving effect to any Borrowing of Revolving Loans, (i) the Total Revolving Outstandings
shall not exceed the Aggregate Revolving Commitments and (ii) the aggregate Outstanding
Amount of the Revolving Loans of any Lender, plus such Lender’s Applicable Percentage of the
Outstanding Amount of L/C Obligations, plus such Lender’s Applicable Percentage of the
Outstanding Amount of all Swing Line Loans shall not exceed such Lender’s Revolving
Commitment. Within the foregoing limits and subject to the terms and conditions set forth
herein, the Borrower may borrow, prepay and reborrow Revolving Loans.

     (b) Term Loans. Subject to the terms and conditions set forth herein, each
Lender agrees to make term loans (each a “Term Loan” and collectively the “Term
Loans”) to the Borrower from time to time during the Term Loan Availability Period in an
aggregate principal amount that will not result in the sum of the aggregate principal amount
of any Lender’s Term Loans to exceed such Lender’s Term Loan Commitment; provided,
however, that the Borrower shall only be permitted to request two Borrowings of Term
Loans during the Term Loan Availability Period. Any principal amount of the Term Loan that
is repaid or prepaid may not be reborrowed.

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     Section 2.02. Borrowings. (a) Each Borrowing shall be made by the Lenders ratably
in accordance with their respective Commitments. The failure of any Lender to make any Loan
required to be made by it shall not relieve any other Lender of its obligations hereunder; provided
that the Commitments of the Lenders are several and no Lender shall be responsible for any other
Lender’s failure to make Loans as required.

     (b) Each Lender at its option may make any Loan by causing any domestic or foreign
branch or Affiliate of such Lender to make such Loan; provided that any exercise of such
option shall not affect the obligation of the Borrower to repay such Loan in accordance with
the terms of this Agreement and shall not be inconsistent with the duty of such Lender under
Section 2.18(a) to minimize amounts payable by the Borrower under Section
2.14 or 2.16.

     (c) Each Borrowing shall be in an aggregate amount that is an integral multiple of
EUR1,000,000 and not less than EUR10,000,000 (or any other amount that is agreed between the
Lenders and the Borrower). After giving effect to all Borrowings of Loans there shall not
at any time be more than a total of 10 Interest Periods in effect with respect to such
Loans.

     (d) Notwithstanding any other provision of this Agreement, the Borrower shall not be
entitled to request, or to elect to convert or continue, any Borrowing if the Interest
Period requested with respect thereto would end after the Maturity Date.

     Section 2.03. Requests for Revolving Loan and Term Loan Borrowings. To request a
Revolving Loan Borrowing or a Term Loan Borrowing, the Borrower shall notify the Agent of such
request by telephone not later than 9:00 a.m., New York City time, three Business Days before the
date of the proposed Borrowing. Each such telephonic Borrowing Request shall be irrevocable and
shall be confirmed promptly by hand delivery, telecopy or .pdf via electronic mail to the Agent of
a written Borrowing Request in a form approved by the Agent and signed by a Financial Officer of
the Borrower. Each such telephonic and written Borrowing Request shall specify the following
information in compliance with Section 2.02:

     (i) the aggregate amount of the requested Borrowing;

     (ii) the date of such Borrowing, which shall be a Business Day;

     (iii) the initial Interest Period to be applicable thereto, which shall be a
period contemplated by the definition of the term “Interest Period”; and

     (iv) the location and number of the Borrower’s account to which funds are to be
disbursed.

If no Interest Period is specified with respect to a Borrowing, then the Borrower shall be deemed
to have selected an Interest Period of one month’s duration. Promptly following receipt of a
Borrowing Request in accordance with this Section, the Agent shall advise each Lender of the
details thereof and of the amount of such Lender’s Loan to be made as part of the requested
Borrowing.

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     Section 2.04. Funding of Borrowing. (a) Each Lender shall make each Loan to be made
by it hereunder on the proposed date thereof by wire transfer of immediately available funds by
12:00 p.m. (noon), New York City time, to the account of the Agent most recently designated by it
for such purpose by notice to the Lenders. The Agent will make such Loans available to the
Borrower by crediting the amounts so received, in like funds, to an account designated by the
Borrower in the applicable Borrowing Request by 1:00 p.m., New York City time, on the funding date.

     (b) Unless the Agent shall have received notice from a Lender prior to the proposed
date of any Borrowing that such Lender will not make available to the Agent such Lender’s
share of such Borrowing, the Agent may assume that such Lender has made such share available
on such date in accordance with paragraph (a) of this Section and may, in reliance upon such
assumption, make available to the Borrower a corresponding amount. In such event, if a
Lender has not in fact made its share of the applicable Borrowing available to the Agent,
then the applicable Lender and the Borrower severally agree to pay to the Agent forthwith on
demand such corresponding amount with interest thereon, for each day from and including the
date such amount is made available to the Borrower to but excluding the date of payment to
the Agent, at (i) in the case of such Lender, a rate determined by the Agent in accordance
with banking industry rules on interbank compensation or (ii) in the case of the Borrower,
the interest rate applicable to such Borrowing. If such Lender pays such amount to the
Agent, then such amount shall constitute such Lender’s Loan included in such Borrowing.

     Section 2.05. Letters of Credit.

     (a) The Letter of Credit Commitment.

     (i) Subject to the terms and conditions set forth herein, (A) the L/C Issuer
agrees, in reliance upon the agreements of the Lenders set forth in this Section
2.05, (1) from time to time on any Business Day during the period from the
Effective Date until the Letter of Credit Expiration Date, to issue Letters of
Credit, for the account of the Borrower and its Subsidiaries resident in a
jurisdiction reasonably acceptable to the L/C Issuer, and to amend or extend Letters
of Credit previously issued by it, in accordance with subsection (b) below, and (2)
to honor drawings under the Letters of Credit; and (B) the Lenders severally agree
to participate in Letters of Credit issued for the account of the Borrower and its
Subsidiaries and any drawings thereunder; provided that after giving effect to any
L/C Credit Extension with respect to any Letter of Credit, (x) the Total Revolving
Outstandings shall not exceed the Aggregate Revolving Commitments, (y) the aggregate
Outstanding Amount of the Revolving Loans of any Lender, plus such Lender’s
Applicable Percentage of the Outstanding Amount of all L/C Obligations, plus such
Lender’s Applicable Percentage of the Outstanding Amount of all Swing Line Loans
shall not exceed such Lender’s Revolving Commitment, and (z) the Outstanding Amount
of the L/C Obligations shall not exceed the Letter of Credit Sublimit. Each request
by the Borrower for the issuance or amendment of a Letter of Credit shall be deemed
to be a representation by the Borrower that the L/C Credit Extension so requested

21

 

complies with the conditions set forth in the proviso to the preceding
sentence. Within the foregoing limits, and subject to the terms and conditions
hereof, the Borrower’s ability to obtain Letters of Credit shall be fully revolving,
and accordingly the Borrower may, during the foregoing period, obtain Letters of
Credit to replace Letters of Credit that have expired or that have been drawn upon
and reimbursed.

     (ii) The L/C Issuer shall not issue any Letter of Credit, if:

     (A) subject to Section 2.05(b)(iii), the expiry date of the requested
Letter of Credit would occur more than 12 months after the date of issuance,
unless the Required Lenders have approved such expiry date; or

     (B) the expiry date of the requested Letter of Credit would occur after
the Letter of Credit Expiration Date, unless all the Lenders have approved
such expiry date.

     (iii) The L/C Issuer shall not be under any obligation to issue any Letter of
Credit if:

     (A) any order, judgment or decree of any Governmental Authority or
arbitrator shall by its terms purport to enjoin or restrain the L/C Issuer
from issuing the Letter of Credit, or any Law applicable to the L/C Issuer
or any request or directive (whether or not having the force of law) from
any Governmental Authority with jurisdiction over the L/C Issuer shall
prohibit, or request that the L/C Issuer refrain from, the issuance of
letters of credit generally or the Letter of Credit in particular or shall
impose upon the L/C Issuer with respect to the Letter of Credit any
restriction, reserve or capital requirement (for which the L/C Issuer is not
otherwise compensated hereunder) not in effect on the Effective Date, or
shall impose upon the L/C Issuer any unreimbursed loss, cost or expense
which was not applicable on the Effective Date and which the L/C Issuer in
good faith deems material to it;

     (B) the issuance of the Letter of Credit would violate one or more
policies of the L/C Issuer applicable to letters of credit generally;

     (C) except as otherwise agreed by the Agent and the L/C Issuer, the
Letter of Credit is in an initial stated amount less than EUR500,000;

     (D) [Reserved];

     (E) any Lender is at that time a Defaulting Lender, unless the L/C
Issuer has entered into arrangements, including the delivery of Cash
Collateral, satisfactory to the L/C Issuer (in its sole discretion) with the
Borrower or such Lender to eliminate the L/C Issuer’s actual or potential

22

 

Fronting Exposure (after giving effect to Section 2.19(a)(iv))
with respect to the Defaulting Lender arising from either the Letter of
Credit then proposed to be issued or that Letter of Credit and all other L/C
Obligations as to which the L/C Issuer has actual or potential Fronting
Exposure, as it may elect in its sole discretion.

     (iv) The L/C Issuer shall not amend any Letter of Credit if the L/C Issuer
would not be permitted at such time to issue the Letter of Credit in its amended
form under the terms hereof.

     (v) The L/C Issuer shall be under no obligation to amend any Letter of Credit
if (A) the L/C Issuer would have no obligation at such time to issue the Letter of
Credit in its amended form under the terms hereof, or (B) the beneficiary of the
Letter of Credit does not accept the proposed amendment to the Letter of Credit.

     (vi) The L/C Issuer shall act on behalf of the Lenders with respect to any
Letters of Credit issued by it and the documents associated therewith, and the L/C
Issuer shall have all of the benefits and immunities (A) provided to the Agent in
Article VIII with respect to any acts taken or omissions suffered by the L/C
Issuer in connection with Letters of Credit issued by it or proposed to be issued by
it and Issuer Documents pertaining to such Letters of Credit as fully as if the term
“Agent” as used in Article VIII included the L/C Issuer with respect to such
acts or omissions, and (B) as additionally provided herein with respect to the L/C
Issuer.

     (b) Procedures for Issuance and Amendment of Letters of Credit.

     (i) Each Letter of Credit shall be issued or amended, as the case may be, upon
the request of the Borrower delivered to the L/C Issuer (with a copy to the Agent)
in the form of a Letter of Credit Application, appropriately completed and signed by
a Financial Officer of the Borrower, which shall indicate whether the Borrower
requests a Subsidiary be included as an account party under such Letter of Credit.
Such Letter of Credit Application must be received by the L/C Issuer and the Agent
not later than 11:00 a.m. at least two Business Days (or such later date and time as
the Agent and the L/C Issuer may agree in a particular instance in their sole
discretion) prior to the proposed issuance date or date of amendment, as the case
may be. In the case of a request for an initial issuance of a Letter of Credit,
such Letter of Credit Application shall specify in form and detail satisfactory to
the L/C Issuer: (A) the proposed issuance date of the requested Letter of Credit
(which shall be a Business Day); (B) the amount thereof; (C) the expiry date
thereof; (D) the name and address of the beneficiary thereof; (E) the documents to
be presented by such beneficiary in case of any drawing thereunder; (F) the full
text of any certificate to be presented by such beneficiary in case of any drawing
thereunder; (G) the purpose and nature of the requested Letter of Credit; and (H)
such other matters as the L/C Issuer may require. In the case of a request for an
amendment of any outstanding Letter of

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Credit, such Letter of Credit Application shall specify in form and detail
satisfactory to the L/C Issuer (A) the Letter of Credit to be amended; (B) the
proposed date of amendment thereof (which shall be a Business Day); (C) the nature
of the proposed amendment; and (D) such other matters as the L/C Issuer may require.
Additionally, the Borrower shall furnish to the L/C Issuer and the Agent such other
documents and information pertaining to such requested Letter of Credit issuance or
amendment, including any Issuer Documents, as the L/C Issuer or the Agent may
reasonably require.

     (ii) Promptly after receipt of any Letter of Credit Application, the L/C Issuer
will confirm with the Agent (by telephone or in writing) that the Agent has received
a copy of such Letter of Credit Application from the Borrower and, if not, the L/C
Issuer will provide the Agent with a copy thereof. Unless the L/C Issuer has
received written notice from any Lender, the Agent or any Obligor, at least one
Business Day prior to the requested date of issuance or amendment of the applicable
Letter of Credit, that one or more applicable conditions contained in Article
IV shall not then be satisfied, then, subject to the terms and conditions
hereof, the L/C Issuer shall, on the requested date, issue a Letter of Credit for
the account of the Borrower and if requested by the Borrower and approved by the L/C
Issuer, its Subsidiaries or enter into the applicable amendment, as the case may be,
in each case in accordance with the L/C Issuer’s usual and customary business
practices. Immediately upon the issuance of each Letter of Credit, each Lender
shall be deemed to, and hereby irrevocably and unconditionally agrees to, purchase
from the L/C Issuer a risk participation in such Letter of Credit in an amount equal
to the product of such Lender’s Applicable Percentage times the amount of such
Letter of Credit.

     (iii) If the Borrower so requests in any applicable Letter of Credit
Application, the L/C Issuer may, in its sole discretion, agree to issue a Letter of
Credit that has automatic extension provisions (each, an “Auto-Extension Letter
of Credit”); provided that any such Auto-Extension Letter of Credit must permit
the L/C Issuer to prevent any such extension at least once in each twelve-month
period (commencing with the date of issuance of such Letter of Credit) by giving
prior notice to the beneficiary thereof not later than a day (the “Non-Extension
Notice Date”) in each such twelve-month period to be agreed upon at the time
such Letter of Credit is issued. Unless otherwise directed by the L/C Issuer, the
Borrower shall not be required to make a specific request to the L/C Issuer for any
such extension. Once an Auto-Extension Letter of Credit has been issued, the
Lenders shall be deemed to have authorized (but may not require) the L/C Issuer to
permit the extension of such Letter of Credit at any time to an expiry date not
later than the Letter of Credit Expiration Date; provided, however, that the L/C
Issuer shall not permit any such extension if (A) the L/C Issuer has determined that
it would not be permitted, or would have no obligation, at such time to issue such
Letter of Credit in its revised form (as extended) under the terms hereof (by reason
of the provisions of clause (ii) or (iii) of Section 2.05(a) or otherwise),
or (B) it has received notice (which may be by telephone or in writing) on or before
the day that is 7 Business Days before the Non-Extension Notice Date (1) from

24

 

the Agent that the Required Lenders have elected not to permit such extension
or (2) from the Agent, any Lender or the Borrower that one or more of the applicable
conditions specified in Section 4.02 is not then satisfied, and in each such
case directing the L/C Issuer not to permit such extension.

     (iv) Promptly after its delivery of any Letter of Credit or any amendment to a
Letter of Credit to an advising bank with respect thereto or to the beneficiary
thereof, the L/C Issuer will also deliver to the Borrower and the Agent a true and
complete copy of such Letter of Credit or amendment.

     (c) Drawings and Reimbursements; Funding of Participations.

     (i) Upon receipt from the beneficiary of any Letter of Credit of any notice of
a drawing under such Letter of Credit, the L/C Issuer shall notify the Borrower and
the Agent thereof. Not later than 11:00 a.m. on the date of any payment by the L/C
Issuer under a Letter of Credit (each such date, an “Honor Date”), the Borrower
shall reimburse the L/C Issuer through the Agent in an amount equal to the amount of
such drawing. If the Borrower fails to so reimburse the L/C Issuer by such time,
the Agent shall promptly notify each Lender of the Honor Date, the amount of the
unreimbursed drawing (the “Unreimbursed Amount”), and the amount of such
Lender’s Applicable Percentage thereof. In such event, the Borrower shall be deemed
to have requested a Revolving Loan Borrowing to be disbursed on the Honor Date in an
amount equal to the Unreimbursed Amount, without regard to the minimum and multiples
specified in Section 2.02 for the principal amount of Revolving Loans, but
subject to the amount of the unutilized portion of the Aggregate Revolving
Commitments and the conditions set forth in Section 4.02 (other than the
delivery of a Borrowing Request). Any notice given by the L/C Issuer or the Agent
pursuant to this Section 2.05(c)(i) may be given by telephone if promptly
confirmed in writing; provided that the lack of such a prompt confirmation
shall not affect the conclusiveness or binding effect of such notice.

     (ii) Each Lender shall upon any notice pursuant to Section 2.05(c)(i)
make funds available (and the Agent may apply Cash Collateral provided for this
purpose) for the account of the L/C Issuer at the Agent’s Office in an amount equal
to its Applicable Percentage of the Unreimbursed Amount not later than 1:00 p.m. on
the Business Day specified in such notice by the Agent, whereupon, subject to the
provisions of Section 2.05(c)(iii), each Lender that so makes funds
available shall be deemed to have made a Revolving Loan to the Borrower in such
amount. The Agent shall remit the funds so received to the L/C Issuer.

     (iii) With respect to any Unreimbursed Amount that is not fully refinanced by a
Revolving Loan Borrowing because the conditions set forth in Section 4.02
cannot be satisfied or for any other reason, the Borrower shall be deemed to have
incurred from the L/C Issuer an L/C Borrowing in the amount of the Unreimbursed
Amount that is not so refinanced, which L/C Borrowing shall be due and payable on
demand (together with interest) and shall bear interest at

25

 

the Default Rate. In such event, each Lender’s payment to the Agent for the
account of the L/C Issuer pursuant to Section 2.05(c)(ii) shall be deemed
payment in respect of its participation in such L/C Borrowing and shall constitute
an L/C Advance from such Lender in satisfaction of its participation obligation
under this Section 2.05.

     (iv) Until each Lender funds its Revolving Loan or L/C Advance pursuant to this
Section 2.05(c) to reimburse the L/C Issuer for any amount drawn under any
Letter of Credit, interest in respect of such Lender’s Applicable Percentage of such
amount shall be solely for the account of the L/C Issuer.

     (v) Each Lender’s obligation to make Revolving Loans or L/C Advances to
reimburse the L/C Issuer for amounts drawn under Letters of Credit, as contemplated
by this Section 2.05(c), shall be absolute and unconditional and shall not
be affected by any circumstance, including (A) any setoff, counterclaim, recoupment,
defense or other right which such Lender may have against the L/C Issuer, the
Borrower or any other Person for any reason whatsoever; (B) the occurrence or
continuance of a Default, or (C) any other occurrence, event or condition, whether
or not similar to any of the foregoing; provided, however, that each Lender’s
obligation to make Revolving Loans pursuant to this Section 2.05(c) is
subject to the conditions set forth in Section 4.02 (other than delivery by the
Borrower of a Borrowing Request). No such making of an L/C Advance shall relieve or
otherwise impair the obligation of the Borrower to reimburse the L/C Issuer for the
amount of any payment made by the L/C Issuer under any Letter of Credit, together
with interest as provided herein.

     (vi) If any Lender fails to make available to the Agent for the account of the
L/C Issuer any amount required to be paid by such Lender pursuant to the foregoing
provisions of this Section 2.05(c) by the time specified in Section
2.05(c)(ii), then, without limiting the other provisions of this Agreement, the
L/C Issuer shall be entitled to recover from such Lender (acting through the Agent),
on demand, such amount with interest thereon for the period from the date such
payment is required to the date on which such payment is immediately available to
the L/C Issuer at a rate per annum equal to the greater of the Federal Funds Rate
and a rate determined by the L/C Issuer in accordance with banking industry rules on
interbank compensation, plus any administrative, processing or similar fees
customarily charged by the L/C Issuer in connection with the foregoing. If such
Lender pays such amount (with interest and fees as aforesaid), the amount so paid
shall constitute such Lender’s Commitment included in the relevant Borrowing or L/C
Advance in respect of the relevant L/C Borrowing, as the case may be. A certificate
of the L/C Issuer submitted to any Lender (through the Agent) with respect to any
amounts owing under this clause (vi) shall be conclusive absent manifest error.

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     (d) Repayment of Participations.

     (i) At any time after the L/C Issuer has made a payment under any Letter of
Credit and has received from any Lender such Lender’s L/C Advance in respect of such
payment in accordance with Section 2.05(c), if the Agent receives for the
account of the L/C Issuer any payment in respect of the related Unreimbursed Amount
or interest thereon (whether directly from the Borrower or otherwise, including
proceeds of Cash Collateral applied thereto by the Agent), the Agent will distribute
to such Lender its Applicable Percentage thereof in the same funds as those received
by the Agent.

     (ii) If any payment received by the Agent for the account of the L/C Issuer
pursuant to Section 2.05(c)(i) is required to be returned under any of the
circumstances described in Section 9.17 (including pursuant to any
settlement entered into by the L/C Issuer in its discretion), each Lender shall pay
to the Agent for the account of the L/C Issuer its Applicable Percentage thereof on
demand of the Agent, plus interest thereon from the date of such demand to the date
such amount is returned by such Lender, at a rate per annum equal to the Federal
Funds Rate from time to time in effect. The obligations of the Lenders under this
clause shall survive the payment in full of the Obligations and the termination of
this Agreement.

     (e) Obligations Absolute. The obligation of the Borrower to reimburse the L/C
Issuer for each drawing under each Letter of Credit and to repay each L/C Borrowing shall be
absolute, unconditional and irrevocable, and shall be paid strictly in accordance with the
terms of this Agreement under all circumstances, including the following:

     (i) any lack of validity or enforceability of such Letter of Credit, this
Agreement, or any other Loan Document;

     (ii) the existence of any claim, counterclaim, setoff, defense (other than
payment in full) or other right that the Borrower or any Subsidiary may have at any
time against any beneficiary or any transferee of such Letter of Credit (or any
Person for whom any such beneficiary or any such transferee may be acting), the L/C
Issuer or any other Person, whether in connection with this Agreement, the
transactions contemplated hereby or by such Letter of Credit or any agreement or
instrument relating thereto, or any unrelated transaction;

     (iii) any draft, demand, certificate or other document presented under such
Letter of Credit proving to be forged, fraudulent, invalid or insufficient in any
respect or any statement therein being untrue or inaccurate in any respect; or any
loss or delay in the transmission or otherwise of any document required in order to
make a drawing under such Letter of Credit;

     (iv) any payment by the L/C Issuer under such Letter of Credit against
presentation of a draft or certificate that does not strictly comply with the terms
of such Letter of Credit; or any payment made by the L/C Issuer under such Letter of

27

 

Credit to any Person purporting to be a trustee in bankruptcy,
debtor-in-possession, assignee for the benefit of creditors, liquidator, receiver or
other representative of or successor to any beneficiary or any transferee of such
Letter of Credit, including any arising in connection with any proceeding under any
Debtor Relief Law; or

     (v) any other circumstance or happening whatsoever, whether or not similar to
any of the foregoing, including any other circumstance that might otherwise
constitute a defense available to, or a discharge of, the Borrower or any
Subsidiary.

The Borrower shall promptly examine a copy of each Letter of Credit and each amendment thereto that
is delivered to it and, in the event of any claim of noncompliance with the Borrower’s instructions
or other irregularity, the Borrower shall promptly notify the L/C Issuer. The Borrower shall be
conclusively deemed to have waived any such claim against the L/C Issuer and its correspondents
unless such notice is given as aforesaid.

     (f) Role of L/C Issuer. Each Lender and the Borrower agree that, in paying any
drawing under a Letter of Credit, the L/C Issuer shall not have any responsibility to obtain
any document (other than any sight draft, certificates and documents expressly required by
the Letter of Credit) or to ascertain or inquire as to the validity or accuracy of any such
document or the authority of the Person executing or delivering any such document. None of
the L/C Issuer, the Agent, any of their respective Related Parties nor any correspondent,
participant or assignee of the L/C Issuer shall be liable to any Lender for (i) any action
taken or omitted in connection herewith at the request or with the approval of the Lenders
or the Required Lenders, as applicable; (ii) any action taken or omitted in the absence of
gross negligence or willful misconduct; or (iii) the due execution, effectiveness, validity
or enforceability of any document or instrument related to any Letter of Credit or Issuer
Document. The Borrower hereby assumes all risks of the acts or omissions of any beneficiary
or transferee with respect to its use of any Letter of Credit; provided,
however, that this assumption is not intended to, and shall not, preclude the
Borrower’s pursuing such rights and remedies as it may have against the beneficiary or
transferee at law or under any other agreement. None of the L/C Issuer, the Agent, any of
their respective Related Parties nor any correspondent, participant or assignee of the L/C
Issuer shall be liable or responsible for any of the matters described in clauses (i)
through (v) of Section 2.05(e); provided, however, that anything in
such clauses to the contrary notwithstanding, the Borrower may have a claim against the L/C
Issuer, and the L/C Issuer may be liable to the Borrower, to the extent, but only to the
extent, of any direct, as opposed to consequential or exemplary, damages suffered by the
Borrower which the Borrower proves were caused by the L/C Issuer’s willful misconduct or
gross negligence or the L/C Issuer’s willful failure to pay under any Letter of Credit after
the presentation to it by the beneficiary of a sight draft and certificate(s) strictly
complying with the terms and conditions of a Letter of Credit. In furtherance and not in
limitation of the foregoing, the L/C Issuer may accept documents that appear on their face
to be in order, without responsibility for further investigation, regardless of any notice
or information to the contrary, and the L/C Issuer shall not be responsible for the validity
or sufficiency of any instrument transferring or assigning or purporting to transfer or
assign

28

 

a Letter of Credit or the rights or benefits thereunder or proceeds thereof, in whole
or in part, which may prove to be invalid or ineffective for any reason.

     (g) Applicability of ISP. Unless otherwise expressly agreed by the L/C Issuer
and the Borrower when a Letter of Credit is issued the rules of the ISP shall apply to each
standby Letter of Credit.

     (h) Letter of Credit Fees. The Borrower shall pay to the Agent for the account
of each Lender in accordance with its Applicable Percentage a Letter of Credit fee (the
“Letter of Credit Fee”) equal to the Applicable Rate times the daily amount
available to be drawn under such Letter of Credit; provided, however, any Letter of
Credit Fees otherwise payable for the account of a Defaulting Lender with respect to any
Letter of Credit as to which such Defaulting Lender has not provided Cash Collateral
satisfactory to the L/C Issuer pursuant to this Section 2.05 shall be payable, to
the maximum extent permitted by applicable Law, to the other Lenders in accordance with the
upward adjustments in their respective Applicable Percentages allocable to such Letter of
Credit pursuant to Section 2.19(a)(iv), with the balance of such fee, if any,
payable to the L/C Issuer for its own account. For purposes of computing the daily amount
available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall
be determined in accordance with Section 1.04. Letter of Credit Fees shall be (i)
due and payable on the first Business Day after the end of each March, June, September and
December, commencing with the first such date to occur after the issuance of such Letter of
Credit, on the Letter of Credit Expiration Date and thereafter on demand and (ii) computed
on a quarterly basis in arrears. If there is any change in the Applicable Rate during any
quarter, the daily amount available to be drawn under each Letter of Credit shall be
computed and multiplied by the Applicable Rate separately for each period during such
quarter that such Applicable Rate was in effect.

     (i) Fronting Fee and Documentary and Processing Charges Payable to L/C Issuer.
The Borrower shall pay directly to the L/C Issuer for its own account a fronting fee with
respect to each Letter of Credit, at the rate per annum specified in the Fee Letter,
computed on the daily amount available to be drawn under such Letter of Credit on a
quarterly basis in arrears. Such fronting fee shall be due and payable on the tenth
Business Day after the end of each March, June, September and December in respect of the
most recently-ended quarterly period (or portion thereof, in the case of the first payment),
commencing with the first such date to occur after the issuance of such Letter of Credit, on
the Letter of Credit Expiration Date and thereafter on demand. For purposes of computing
the daily amount available to be drawn under any Letter of Credit, the amount of such Letter
of Credit shall be determined in accordance with Section 1.04. In addition, the
Borrower shall pay directly to the L/C Issuer for its own account the customary issuance,
presentation, amendment and other processing fees, and other standard costs and charges, of
the L/C Issuer relating to letters of credit as from time to time in effect. Such customary
fees and standard costs and charges are due and payable on demand and are nonrefundable.

     (j) Conflict with Issuer Documents. In the event of any conflict between the
terms hereof and the terms of any Issuer Document, the terms hereof shall control.

29

 

     Section 2.06. Swing Line Loans.

     (a) The Swing Line. Subject to the terms and conditions set forth herein, the
Swing Line Lender, in reliance upon the agreements of the other Lenders set forth in this
Section 2.06, may in its sole discretion make loans (each such loan, a “Swing
Line Loan”) to the Borrower from time to time on any Business Day during the Revolving
Loan Availability Period in an aggregate amount not to exceed at any time outstanding the
amount of the Swing Line Sublimit, notwithstanding the fact that such Swing Line Loans, when
aggregated with the Applicable Percentage of the Outstanding Amount of Revolving Loans and
L/C Obligations of the Lender acting as Swing Line Lender, may exceed the amount of such
Lender’s Revolving Commitment; provided, however, that after giving effect
to any Swing Line Loan, (i) the Total Revolving Outstandings shall not exceed the Aggregate
Revolving Commitments, and (ii) the aggregate Outstanding Amount of the Revolving Loans of
any Lender, plus such Lender’s Applicable Percentage of the Outstanding Amount of
all L/C Obligations, plus such Lender’s Applicable Percentage of the Outstanding
Amount of all Swing Line Loans shall not exceed such Lender’s Revolving Commitment, and
provided, further, that the Borrower shall not use the proceeds of any Swing
Line Loan to refinance any outstanding Swing Line Loan. Within the foregoing limits, and
subject to the other terms and conditions hereof, the Borrower may borrow under this
Section 2.06, prepay under Section 2.10, and reborrow under this Section
2.06. Immediately upon the making of a Swing Line Loan, each Lender shall be deemed to,
and hereby irrevocably and unconditionally agrees to, purchase from the Swing Line Lender a
risk participation in such Swing Line Loan in an amount equal to the product of such
Lender’s Applicable Percentage times the amount of such Swing Line Loan.

     (b) Borrowing Procedures. Each Swing Line Borrowing shall be made upon the
Borrower’s irrevocable notice to the Swing Line Lender and the Agent via facsimile
transmission (with the original thereof to follow via mail or courier). Each such notice
must be received by the Swing Line Lender and the Agent not later than 11:00 a.m. London
Time on the requested borrowing date, and shall specify (i) the amount to be borrowed, which
shall be a minimum of EUR1,000,000, and (ii) the requested borrowing date, which shall be a
Business Day. Each such telephonic notice must be confirmed promptly by delivery to the
Swing Line Lender and the Agent of a written Swing Line Loan Notice, appropriately completed
and signed by a Financial Officer of the Borrower. Promptly after receipt by the Swing Line
Lender of any telephonic Swing Line Loan Notice, the Swing Line Lender will confirm with the
Agent (by telephone or in writing) that the Agent has also received such Swing Line Loan
Notice and, if not, the Swing Line Lender will notify the Agent (by telephone or in writing)
of the contents thereof. Unless the Swing Line Lender has received notice (by telephone or
in writing) from the Agent (including at the request of any Lender) prior to 1:00 p.m.
London Time on the date of the proposed Swing Line Borrowing (A) directing the Swing Line
Lender not to make such Swing Line Loan as a result of the limitations set forth in the
first proviso to the first sentence of Section 2.05(a), or (B) that one or more of
the applicable conditions specified in Section 4.02 is not then satisfied, then,
subject to the terms and conditions hereof, the Swing Line Lender will, not later than 3:00
p.m. London Time on the borrowing date specified in such Swing Line Loan Notice, make the
amount of its Swing Line Loan

30

 

available to the Borrower at its office by crediting the account of the Borrower on the
books of the Swing Line Lender in immediately available funds.

     (c) Refinancing of Swing Line Loans.

     (i) The Swing Line Lender at any time in its sole discretion may (acting
through the Agent) request, on behalf of the Borrower (which hereby irrevocably
authorizes the Swing Line Lender to so request on its behalf), that each Lender make
a Revolving Loan in an amount equal to such Lender’s Applicable Percentage of the
amount of Swing Line Loans then outstanding. Such request shall be made in writing
(which written request shall be deemed to be a Borrowing Request for purposes
hereof) and in accordance with the requirements of Section 2.02, without
regard to the minimum and multiples specified therein for the principal amount of
Revolving Loans, but subject to the unutilized portion of the Aggregate Revolving
Commitments and the conditions set forth in Section 4.02. The Swing Line
Lender shall furnish the Borrower with a copy of the applicable Borrowing Request
promptly after delivering such notice to the Agent. Each Lender shall make an
amount equal to its Applicable Percentage of the amount specified in such Borrowing
Request available to the Agent in immediately available funds (and the Agent may
apply Cash Collateral available with respect to the applicable Swing Line Loan) for
the account of the Swing Line Lender at the Agent’s Office not later than 1:00 p.m.
London Time on the day specified in such Borrowing Request, whereupon, subject to
Section 2.06(c)(ii), each Lender that so makes funds available shall be
deemed to have made a Revolving Loan to the Borrower in such amount. The Agent
shall remit the funds so received to the Swing Line Lender.

     (ii) If for any reason any Swing Line Loan cannot be refinanced by such a
Revolving Loan Borrowing in accordance with Section 2.06(c)(i), the request
for Revolving Loans submitted by the Swing Line Lender as set forth herein shall be
deemed to be a request by the Swing Line Lender that each of the Lenders fund its
risk participation in the relevant Swing Line Loan and each Lender’s payment to the
Agent for the account of the Swing Line Lender pursuant to Section
2.06(c)(i) shall be deemed payment in respect of such participation.

     (iii) If any Lender fails to make available to the Agent for the account of the
Swing Line Lender any amount required to be paid by such Lender pursuant to the
foregoing provisions of this Section 2.06(c) by the time specified in
Section 2.06(c)(i), the Swing Line Lender shall be entitled to recover from
such Lender (acting through the Agent), on demand, such amount with interest thereon
for the period from the date such payment is required to the date on which such
payment is immediately available to the Swing Line Lender at a rate per annum equal
to the greater of the Federal Funds Rate and a rate determined by the Swing Line
Lender in accordance with banking industry rules on interbank compensation, plus any
administrative, processing or similar fees customarily charged by the Swing Line
Lender in connection with the foregoing. If such Lender pays such amount (with
interest and fees as aforesaid), the amount so paid

31

 

shall constitute such Lender’s Revolving Loan included in the relevant
Revolving Loan Borrowing or funded participation in the relevant Swing Line Loan, as
the case may be. A certificate of the Swing Line Lender submitted to any Lender
(through the Agent) with respect to any amounts owing under this clause (iii) shall
be conclusive absent manifest error.

     (iv) Each Lender’s obligation to make Revolving Loans or to purchase and fund
risk participations in Swing Line Loans pursuant to this Section 2.06(c)
shall be absolute and unconditional and shall not be affected by any circumstance,
including (A) any setoff, counterclaim, recoupment, defense or other right which
such Lender may have against the Swing Line Lender, the Borrower or any other Person
for any reason whatsoever, (B) the occurrence or continuance of a Default, or (C)
any other occurrence, event or condition, whether or not similar to any of the
foregoing; provided, however, that each Lender’s obligation to make Revolving Loans
pursuant to this Section 2.06(c) is subject to the conditions set forth in
Section 4.02. No such funding of risk participations shall relieve or
otherwise impair the obligation of the Borrower to repay Swing Line Loans, together
with interest as provided herein.

     (d) Repayment of Participations.

     (i) At any time after any Lender has purchased and funded a risk participation
in a Swing Line Loan, if the Swing Line Lender receives any payment on account of
such Swing Line Loan, the Swing Line Lender will (acting through the Agent)
distribute to such Lender its Applicable Percentage thereof in the same funds as
those received by the Swing Line Lender.

     (ii) If any payment received by the Swing Line Lender in respect of principal
or interest on any Swing Line Loan is required to be returned by the Swing Line
Lender under any of the circumstances described in Section 9.08 (including
pursuant to any settlement entered into by the Swing Line Lender in its discretion),
each Lender shall pay to the Swing Line Lender its Applicable Percentage thereof on
demand of the Agent, plus interest thereon from the date of such demand to the date
such amount is returned, at a rate per annum equal to the Federal Funds Rate. The
Agent will make such demand upon the request of the Swing Line Lender. The
obligations of the Lenders under this clause shall survive the payment in full of
the Obligations and the termination of this Agreement.

     (e) Interest for Account of Swing Line Lender. The Swing Line Lender shall be
responsible for invoicing the Borrower for interest on the Swing Line Loans. Until each
Lender funds its Revolving Loan or risk participation pursuant to this Section 2.06
to refinance such Lender’s Applicable Percentage of any Swing Line Loan, interest in respect
of such Applicable Percentage shall be solely for the account of the Swing Line Lender.

32

 

     (f) Payments Directly to Swing Line Lender. The Borrower shall make all
payments of principal and interest in respect of the Swing Line Loans directly to the Swing
Line Lender.

     Section 2.07. Interest Elections. (a) Each Borrowing shall have an initial Interest
Period as specified in the Borrowing Request. Thereafter, the Borrower may elect Interest Periods
therefor, all as provided in this Section. The Borrower may elect different options with respect
to different portions of the Borrowing, in which case each such portion shall be allocated ratably
among the Lenders holding the Loans comprising such Borrowing, and the Loans comprising each such
portion shall be considered a separate Borrowing.

     (b) To make an election, the Borrower shall notify the Agent of such election by
telephone by the time that a Borrowing Request would be required under Section 2.03.
Each such telephonic Interest Election Request shall be irrevocable and shall be confirmed
promptly by hand delivery, telecopy or .pdf via electronic mail to the Agent of a written
Interest Election Request in a form approved by the Agent and signed by a Financial Officer
of the Borrower.

     (c) Each telephonic and written Interest Election Request shall specify the following
information in compliance with Section 2.02:

     (i) the Borrowing to which such Interest Election Request applies and, if
different options are being elected with respect to different portions thereof, the
portions thereof to be allocated to each resulting Borrowing;

     (ii) the effective date of the election made pursuant to such Interest Election
Request, which shall be a Business Day; and

     (iii) the Interest Period to be applicable thereto after giving effect to such
election, which shall be a period contemplated by the definition of the term
“Interest Period”.

If any such Interest Election Request does not specify an Interest Period, then the Borrower shall
be deemed to have selected an Interest Period of one month’s duration.

     (d) Promptly following receipt of an Interest Election Request, the Agent shall advise
each Lender of the details thereof and of such Lender’s portion of each resulting Borrowing.

     (e) If the Borrower fails to deliver a timely Interest Election Request with respect to
an Interest Period then in effect prior to the end of the Interest Period applicable
thereto, then, unless such Borrowing is repaid as provided herein, at the end of such
Interest Period the Borrowing relating thereto shall be converted to a Borrowing with an
Interest Period of one month. Notwithstanding any contrary provision hereof, if an Event of
Default has occurred and is continuing and the Agent, at the request of the Required
Lenders, so notifies the Borrower, then, so long as an Event of Default is continuing no
Interest Period may be converted to an Interest Period in excess of one month.

33

 

     Section 2.08. Termination of Commitments; Reductions of Commitments; Increase in
Commitments.

     (a) Unless previously terminated, the Revolving Commitments shall terminate on the
Maturity Date and the Term Loan Commitments shall terminate on the last day of the Term Loan
Availability Period.

     (b) The Borrower may at any time terminate, or from time to time reduce, the Revolving
Commitments; provided that (i) each reduction of the Revolving Commitments shall be in an
aggregate amount that is an integral multiple of EUR1,000,000 and not less than
EUR5,000,000, (ii) the Borrower shall not terminate or reduce the Revolving Commitments if,
after giving effect to any concurrent prepayment of the Loans in accordance with Section
2.10, the sum of the Revolving Credit Exposures would exceed the total Revolving
Commitments and (iii) if, after giving effect to any reduction of the Revolving Commitments,
the Letter of Credit Sublimit or the Swing Line Sublimit exceeds the amount of the Revolving
Commitments, such Sublimit shall be automatically reduced by the amount of such excess.

     (c) The Borrower shall notify the Agent of any election to terminate or reduce the
Revolving Commitments under paragraph (b) of this Section at least three Business Days prior
to the effective date of such termination or reduction, specifying such election and the
effective date thereof. Promptly following receipt of any notice, the Agent shall advise
the Lenders of the contents thereof. Each notice delivered by the Borrower pursuant to this
Section shall be irrevocable; provided that a notice of termination of the Revolving
Commitments delivered by the Borrower may state that such notice is conditioned upon the
effectiveness of other credit facilities, in which case such notice may be revoked by the
Borrower (by notice to the Agent on or prior to the specified effective date) if such
condition is not satisfied. Any termination or reduction of the Revolving Commitments shall
be permanent. Each reduction of the Revolving Commitments shall be made ratably among the
Lenders in accordance with their respective Revolving Commitments.

     (d) On not more than two occasions during the term of this Agreement, the Borrower may,
by written notice to the Agent (which shall promptly deliver a copy to each of the Lenders)
not less than 30 days and not more than 90 days prior to any anniversary of the date hereof,
request that the Lenders extend the Maturity Date applicable to the Revolving Commitments
and the Revolving Commitments for an additional period of one year. Each Lender shall, by
notice to the Borrower and the Agent given not later than the 20th day after the
date of the Agent’s receipt of the Borrower’s extension request, advise the Borrower whether
or not it agrees to the requested extension (each Lender agreeing to a requested extension
being called a “Consenting Lender” and each Lender declining to agree to a requested
extension being called a “Declining Lender”). Any Lender that has not so advised
the Borrower and the Agent by such day shall be deemed to have declined to agree to such
extension and shall be a Declining Lender. If Lenders constituting the Required Lenders
shall have agreed to an extension request, then the Maturity Date applicable to the
Revolving Commitments shall, as to the Consenting Lenders, be extended to the first
anniversary of the Maturity

34

 

Date theretofore in effect. The decision to agree or withhold agreement to any
Maturity Date extension under this Section shall be at the sole discretion of each Lender.
The Revolving Commitment of any Declining Lender shall terminate on the Maturity Date in
effect as to such Lender prior to giving effect to any such extension (such Maturity Date
being called the “Existing Maturity Date”). The principal amount of any outstanding
Loans made by the Declining Lenders, together with any accrued interest thereon and any
accrued fees and other amounts payable to or for the accounts of such Declining Lenders
hereunder, shall be due and payable on the Existing Maturity Date, and on the Existing
Maturity Date the Borrower shall also make such other prepayments of its Loans as shall be
required in order that (and it shall be a condition to the effectiveness of the extension of
the Revolving Commitments of the Consenting Lenders that), after giving effect to the
termination of the Revolving Commitments of, and all payments to, the Declining Lenders
pursuant to this sentence, the sum of the total Revolving Credit Exposures shall not exceed
the total Revolving Commitments. Notwithstanding the foregoing provisions of this
paragraph, the Borrower shall have the right, at its sole expense and effort, pursuant to
and in accordance with the requirements of Section 9.04, at any time prior to the
Existing Maturity Date, to cause a Declining Lender to assign its rights and obligations
hereunder to a Lender or other financial institution that will agree to a request for the
extension of the Maturity Date, and any such replacement Lender shall for all purposes
constitute a Consenting Lender; provided that such Declining Lender shall have received
payment of an amount equal to the outstanding principal amount of its Loans, accrued
interest thereon, accrued fees and all other amounts payable to it hereunder, from such
replacement Lender (to the extent of such outstanding principal and accrued interest and
fees) or the Borrower (in the case of other amounts). Notwithstanding the foregoing, no
extension of the Maturity Date pursuant to this paragraph shall become effective unless (i)
on the anniversary of the date hereof that immediately follows the date on which the
Borrower delivers the applicable request for extension of the Maturity Date, the conditions
set forth in paragraphs (a) and (b) of Section 4.02 shall be satisfied (with all
references in such paragraphs to a Loan being deemed to be references to such extension and
without giving effect to the parenthetical in Section 4.02(a)) and the Agent shall
have received a certificate to that effect dated such date and executed by a Financial
Officer of the Borrower.

     (e) The Borrower may at any time and from time to time, upon prior written notice by
the Borrower to the Agent, increase the Revolving Commitments by a maximum aggregate amount
of up to ONE HUNDRED MILLION EUROS (EUR100,000,000) with additional Revolving Commitments
from any existing Lender or from any other Person selected by the Borrower and reasonably
acceptable to the Agent and the Guarantor; provided that:

     (i) any such increase shall be in a minimum principal amount of EUR25,000,000
and in integral multiples of EUR1,000,000 in excess thereof;

     (ii) no Default or Event of Default shall exist and be continuing at the time
of any such increase;

35

 

     (iii) no existing Lender shall be under any obligation to increase its
Revolving Commitment and any such decision whether to increase its Revolving
Commitment shall be in such Lender’s sole and absolute discretion;

     (iv) (A) any new Lender shall join this Agreement by executing such joinder
documents reasonably required by the Agent and/or (B) any existing Lender electing
to increase its Revolving Commitment shall have executed a commitment agreement
reasonably satisfactory to the Agent; and

     (v) as a condition precedent to such increase, the Borrower shall deliver to
the Agent a certificate of the Borrower dated as of the date of such increase signed
by the President, a Vice President or a Financial Officer of the Borrower (A)
certifying and attaching the resolutions adopted by the Borrower approving or
consenting to such increase, and (B) certifying that, before and after giving effect
to such increase, (x) the representations and warranties of the Borrower and the
Guarantor set forth in this Agreement are true and correct in all material respects
on and as of the date of such increase, except that for purposes of this Section
2.08(e), the representations and warranties in Section 3.04(a) shall be deemed
to refer to the most recent statements furnished pursuant to clauses (a) and (b),
respectively, of Section 5.01, and (y) no Default or Event of Default
exists.

The Borrower shall prepay any Revolving Loans owing by it and outstanding on the date of any
such increase (and pay any additional amounts required pursuant to Section 2.15) to
the extent necessary to keep the outstanding Revolving Loans ratable with any revised
Revolving Commitments arising from any nonratable increase in the Revolving Commitments
under this Section 2.08.

     Section 2.09. Repayment of Loans; Evidence of Debt.

     (a) The Borrower hereby unconditionally promises to pay to the Agent for the account of
each Lender the then unpaid principal amount of the Revolving Loans on the Maturity Date.

     (b) The Borrower hereby unconditionally promises to pay to the Agent for the account of
each Lender the outstanding principal amount of the Term Loan in installments on the dates
and in the amounts set forth in the table below (as such installments may hereafter be
adjusted as a result of prepayments made pursuant to Section 2.08):

	 	 	 
	 	 	Principal Amortization
	Payment Dates	 	Payment
	1st Anniversary of the Effective Date

	 	EUR25,000,000
	 
	 	 
	2nd Anniversary of the Effective Date

	 	EUR25,000,000
	 
	 	 
	Maturity Date

	 	Outstanding principal balance of Term Loans

36

 

     (c) The Borrower shall repay each Swing Line Loan on the earlier to occur of (i) the
date ten Business Days after such Loan is made and (ii) the Maturity Date.

     (d) Each Lender shall maintain in accordance with its usual practice an account or
accounts evidencing the indebtedness of the Borrower to such Lender resulting from each Loan
made by such Lender, including the amounts of principal and interest payable and paid to
such Lender from time to time hereunder.

     (e) The Agent shall maintain accounts in which it shall record (i) the amount of each
Loan made hereunder, and the Interest Period applicable thereto, (ii) the amount of any
principal or interest due and payable or to become due and payable from the Borrower to each
Lender hereunder and (iii) the amount of any sum received by the Agent hereunder for the
account of the Lenders and each Lender’s share thereof.

     (f) The entries made in the accounts maintained pursuant to paragraph (b) or (c) of
this Section shall be prima facie evidence of the existence and amounts of the obligations
recorded therein; provided that the failure of any Lender or the Agent to maintain such
accounts or any error therein shall not in any manner affect the obligation of the Borrower
to repay the Loans in accordance with the terms of this Agreement.

     (g) Any Lender may request that the Loans made by it be evidenced by a Note. In such
event, the Borrower shall prepare, execute and deliver to such Lender a Note payable to the
order of such Lender (or, if requested by such Lender, to such Lender and its registered
assigns). Thereafter, the Loans evidenced by such Note and interest thereon shall at all
times (including after assignment pursuant to Section 9.04) be represented by one or
more Notes in such form payable to the order of the payee named therein (or, if such Note is
a registered note, to such payee and its registered assigns).

     Section 2.10. Prepayment of Loans. (a) The Borrower shall have the right at any
time and from time to time to prepay the Revolving Loans and the Term Loans in whole or in part
without premium or penalty (other than break funding payments pursuant to Section 2.15)
upon notice to the Agent by telephone (confirmed by telecopy or .pdf via electronic mail) of such
prepayment, not later than 11:00 a.m., New York City time, three Business Days before the date of
prepayment. Each such notice shall be irrevocable and shall specify the prepayment date and the
principal amount of each Loan or portion thereof to be prepaid; provided that, if a notice of
prepayment is given in connection with a conditional notice of termination of the Revolving
Commitments as contemplated by Section 2.08, then such notice of prepayment may be revoked
if such notice of termination is revoked in accordance with Section 2.08. Promptly
following receipt of any such notice, the Agent shall advise the Lenders of the contents thereof.
Each partial prepayment shall be in an amount that would be permitted in the case of an advance as
provided in Section 2.02. Each prepayment shall be applied as directed by the
Borrower

37

 

provided however that each prepayment shall be shared ratably to each Lender’s Loans
included in the prepaid Borrowing. Prepayments shall be accompanied by accrued interest to the
extent required by Section 2.12.

     (b) The Borrower may, upon notice to the Swing Line Lender (with a copy to the Agent),
at any time or from time to time, voluntarily prepay Swing Line Loans in whole or in part
without premium or penalty; provided that (i) such notice must be received by the Swing Line
Lender and the Agent not later than 12:00 p.m. (noon) London Time on the date of the
prepayment, and (ii) any such prepayment shall be in a minimum principal amount of
EUR250,000. Each such notice shall specify the date and amount 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.

     Section 2.11. Fees.

     (a) The Borrower agrees to pay to the Agent for the account of each Lender with a
Revolving Commitment, a revolving loan commitment fee, equal to the product of (i) the
Applicable Rate times (ii) the actual daily amount by which the Aggregate Revolving
Commitments exceed the sum of (x) the Outstanding Amount of Revolving Loans and (y) the
Outstanding Amount of L/C Obligations. For the avoidance of doubt, Swing Line Loans shall
not be counted towards or considered usage of the Aggregate Revolving Commitments for
purposes of computing the commitment fee in accordance with this Section 2.11(a).

     (b) The Borrower agrees to pay to the Agent for the account of each Lender with a
Revolving Commitment, in addition to any interest payable pursuant to Section 2.12,
in accordance with its Applicable Percentage, a utilization fee of 0.25% per annum times the
aggregate outstanding principal amount of Revolving Loans and Letters of Credit on each day
that the Total Revolving Outstandings exceed 50% of the aggregate amount of the Revolving
Commitments.

     (c) The Borrower agrees to pay to the Agent for the account of each Lender with a Term
Loan Commitment, a term loan commitment fee, which shall accrue at the Applicable Rate on
the daily amount by which the Term Loan Commitment of such Lender exceeds the sum of the
aggregate outstanding principal amount of Term Loans during the Term Loan Availability
Period.

     (d) Accrued commitment fees and the utilization fees pursuant to this Section
2.11 shall be payable quarterly in arrears on the last Business Day of March, June,
September and December of each year, in the case of the Term Loan Commitments, on the last
day of the Term Loan Availability Period, and in the case of the Revolving Commitments on
any date prior to the Maturity Date on which the Revolving Commitments terminate and on the
Maturity Date, commencing on the first such date to occur after the date hereof; provided,
that (i) no commitment fee shall accrue on the Commitment of a Defaulting Lender so long as
such Lender shall be a Defaulting Lender
and (ii) any commitment fee accrued with respect to the Commitment of a Defaulting

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Lender during the period prior to the time such Lender became a Defaulting Lender and unpaid
at such time shall not be payable by the Borrower so long as such Lender shall be a
Defaulting Lender. All commitment fees shall be computed on the basis of a year of 360 days
and shall be payable for the actual number of days elapsed (including the first day but
excluding the last day).

     (e) The Borrower agrees to pay to the Agent, for its own account, fees payable in the
amounts and at the times separately agreed upon in writing between the Borrower and the
Agent.

     (f) All fees payable hereunder shall be paid on the dates due, in immediately available
funds, to the Agent for distribution, in the case of commitment fees, to the Lenders. Fees
paid shall not be refundable under any circumstances absent error in the calculation or
payment thereof.

     Section 2.12. Interest. (a) (i) Each Revolving Loan and Term Loan shall bear
interest at the Adjusted LIBO Rate for the Interest Period then in effect plus the Applicable Rate
and (ii) each Swing Line Loan shall bear interest at the rate per annum quoted by the Swing Line
Lender as its overnight rate offered for Swing Line Loans plus the Applicable Rate.

     (b) Notwithstanding the foregoing, if any principal of or interest on any Loan or any
fee or other amount payable by the Borrower hereunder is not paid when due, whether at
stated maturity, upon acceleration or otherwise, such overdue amount shall bear interest,
after as well as before judgment, at a rate per annum equal to the Default Rate.

     (c) Accrued interest on each Loan shall be payable in arrears on each Interest Payment
Date for such Loan and, in the case of Revolving Loans, upon termination of the Commitments;
provided that (i) interest accrued pursuant to paragraph (c) of this Section 2.12 shall be
payable on demand, and (ii) in the event of any repayment or prepayment of any Loan accrued
interest on the principal amount repaid or prepaid shall be payable on the date of such
repayment or prepayment.

     (d) All interest hereunder shall be computed on the basis of a year of 360 days and
shall be payable for the actual number of days elapsed (including the first day but
excluding the last day). The applicable Adjusted LIBO Rate or LIBO Rate shall be determined
by the Agent, and such determination shall be conclusive absent manifest error.

     Section 2.13. Alternate Rate of Interest. If prior to the commencement of any
Interest Period:

     (a) the Agent determines (which determination shall be conclusive absent manifest
error) that adequate and reasonable means do not exist for ascertaining the Adjusted LIBO
Rate or the LIBO Rate, as applicable, for such Interest Period; or

     (b) the Agent is advised by the Required Lenders that the Adjusted LIBO Rate or the
LIBO Rate, as applicable, for such Interest Period will not adequately and fairly

39

 

reflect
the cost to such Lenders of making or maintaining their Loans for such Interest Period;

then the Agent shall give notice thereof to the Borrower and the Lenders by telephone, telecopy or
..pdf via electronic mail as promptly as practicable thereafter and, until the Agent notifies the
Borrower and the Lenders that the circumstances giving rise to such notice no longer exist, (i) the
Lenders shall not be required to fund any additional Loans and (ii) the Lenders and Obligors shall
negotiate in good faith to determine an alternative rate of interest.

     Section 2.14. Increased Costs. Subject to Section 2.16, (a) If any Change in
Law shall:

     (i) impose, modify or deem applicable any reserve, special deposit or similar
requirement against assets of, deposits with or for the account of, or credit
extended by, any Lender (except any such reserve requirement reflected in the
Adjusted LIBO Rate) or the L/C Issuer;

     (ii) impose on any Lender or the L/C Issuer or the London interbank market any
other condition, cost or expense, affecting this Agreement or Loans made by such
Lender or any Letter of Credit participation therein;

     (iii) subject to any Lender or the L/C Issuer to any tax of any kind whatsoever
with respect to this Agreement, any Letter of Credit, any participation in a Letter
of Credit or any Loan made by it, or change the basis of taxation of payments to
such Lender or the L/C Issuer in respect thereof (except for Indemnified Taxes or
Other Taxes covered by Section 2.16 and the imposition of, or any change in the rate
of, any Excluded Tax payable by such Lender or the L/C Issuer);

and the result of any of the foregoing shall be to increase the cost to such Lender in an amount
that such Lender deems to be material of making or maintaining any Loan (or of maintaining its
obligation to make any such Loan) or to increase the cost to such Lender or the L/C Issuer of
participating in, issuing or maintaining any Letter of Credit (or of maintaining its obligation to
participate in or to issue any Letter of Credit) in an amount that such Lender deems material or to
reduce the amount of any sum received or receivable by such Lender or the L/C Issuer hereunder
(whether of principal, interest or otherwise), other than any increase in costs resulting from (i)
Excluded Taxes or (ii) Indemnified Taxes or Other Taxes to which Section 2.16 is
applicable, then the Borrower will pay to such Lender or the L/C Issuer, as the case may be, such
additional amount or amounts as will compensate such Lender for such additional costs incurred or
reduction suffered.

     (b) If any Lender determines that any Change in Law 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 or the L/C Issuer’s holding company, if any, as a consequence of
this Agreement, the Commitments hereunder, the Loans made by or held by or participations in
Letters of Credit held by such Lender or the Letters of Credit
issued by the L/C Issuer to a level below that which such Lender or the L/C Issuer or
such Lender’s or the L/C Issuer’s holding company could have achieved but for such

40

 

Change in
Law (taking into consideration such Lender’s or the L/C Issuer’s policies and the policies
of such Lender’s or the L/C Issuer’s holding company with respect to capital adequacy), then
from time to time the Borrower will pay to such Lender or the L/C Issuer, such additional
amount or amounts as will compensate such Lender or the L/C Issuer such Lender’s or the L/C
Issuer’s holding company for any such reduction suffered.

     (c) A certificate of a Lender or the L/C Issuer setting forth the amount or amounts
necessary to compensate such Lender or the L/C Issuer or its holding company, as the case
may be, as specified in paragraph (a) or (b) of this Section 2.14, and explaining in
reasonable detail the method by which such amount or amounts shall have been determined,
shall be delivered to the Borrower and shall be conclusive absent manifest error. The
Borrower shall pay such Lender or the L/C Issuer, as the case may be, the amount shown as
due on any such certificate within 10 days after receipt thereof.

     (d) Failure or delay on the part of any Lender or the L/C Issuer to demand compensation
pursuant to this Section 2.14 shall not constitute a waiver of such Lender’s or the L/C
Issuer’s right to demand such compensation; provided that the Borrower shall not be required
to compensate a Lender or the L/C Issuer pursuant to this Section 2.14 for any increased
costs or reductions unless the Lender or the L/C Issuer gives notice to the Borrower to
compensate such Lender or the L/C Issuer pursuant to this Section 2.14 within 180 days after
the date such Lender or the L/C Issuer knows an event has occurred pursuant to which such
Lender or the L/C Issuer will seek such compensation.

     (e) Notwithstanding the foregoing provisions of this Section 2.14, a Lender or the L/C
Issuer shall not be entitled to compensation pursuant to this Section 2.14 if it is not at
the time the general policy or practice of the Lender or the L/C Issuer to demand
compensation in similar circumstances in similar credit agreements.

     Section 2.15. Break Funding Payments. In the event of (a) the payment of any
principal of any Loan other than on the last day of an Interest Period applicable thereto or on the
Maturity Date (including as a result of an Event of Default), (b) the conversion of any Loan other
than the last day of the Interest Period applicable thereto, (c) the failure to borrow or prepay
any Loan on the date specified in any notice delivered pursuant hereto (regardless of whether such
notice may be revoked under Section 2.10(b) and is revoked in accordance therewith), or
(d) the assignment of any Loan other than on the last day of the Interest Period applicable thereto
as a result of a request by the Borrower pursuant to Section 2.18, then, in any such event,
the Borrower shall compensate each Lender for the loss, cost and expense attributable to such
event. In the case of a Loan, such loss, cost or expense to any Lender shall be deemed to include
an amount determined by such Lender to be the excess, if any, of (i) the amount of interest which
would have accrued on the principal amount of such Loan had such event not occurred, at the
Adjusted LIBO Rate that would have been applicable to such Loan, for the period from the date of
such event to the last day of the then current Interest Period therefor (or, in the case of a
failure to borrow for the period that would have been the Interest Period for such Loan), over (ii)
the amount of interest which would accrue on such principal amount for such period at the
interest rate which such Lender would bid were it to bid, at the commencement of such period,
for Euro deposits of a comparable amount and period from other banks in the eurodollar market.

41

 

A
certificate of any Lender setting forth any amount or amounts that such Lender is entitled to
receive pursuant to this Section and explaining in reasonable detail the method by which such
amount or amounts shall have been determined shall be delivered to the Borrower and shall be
conclusive absent manifest error. The Borrower shall pay such Lender the amount shown as due on
any such certificate within 10 days after receipt thereof.

     Section 2.16. Taxes. (a) Any and all payments by or on account of any obligation of
any Obligor hereunder shall be made free and clear of and without deduction for any Indemnified
Taxes or Other Taxes; provided that if any Obligor shall be required by applicable law to deduct
any Indemnified Taxes or 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) the Agent, Lender or L/C Issuer (as the
case may be) receives an amount equal to the sum it would have received had no such deductions been
made, (ii) the Obligors shall make such deductions and (iii) the Obligors shall pay the full amount
deducted to the relevant Governmental Authority in accordance with applicable law.

     (b) In addition, the Obligors shall pay any Other Taxes to the relevant Governmental
Authority in accordance with applicable law.

     (c) The Obligors shall indemnify the Agent, each Lender and the L/C Issuer within 10
days after written demand therefor, for the full amount of any Indemnified Taxes or Other
Taxes paid by the Agent, such Lender or the L/C Issuer, as the case may be, on or with
respect to any payment by or on account of any obligation of the Obligors hereunder
(including Indemnified Taxes or Other Taxes imposed or asserted on or attributable to
amounts payable under this Section) and any penalties, interest, additions to tax 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 Authority. A certificate as to the amount of such payment or
liability delivered to the Borrower by a Lender, the L/C Issuer, or by the Agent on its own
behalf or on behalf of a Lender or the L/C Issuer, shall be conclusive absent manifest
error. Notwithstanding the foregoing, the Obligors shall not be liable for the
reimbursement of any interest, penalties or expenses arising from the gross negligence or
willful misconduct of the Agent, any Lender or the L/C Issuer in taking any action it was
required to take including, but not limited to, filing any tax return or report in a timely
manner.

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

     (e) Any Lender that is entitled to an exemption from or reduction of withholding tax
under the law of the jurisdiction in which each Obligor is located, or any
treaty to which such jurisdiction is a party, with respect to payments under this
Agreement shall deliver to the Borrower (with a copy to the Agent), at the time or times

42

 

prescribed by applicable law, such properly completed and executed documentation, if any, as
shall be prescribed by applicable law or reasonably requested by the Borrower to permit such
payments to be made without withholding or at a reduced rate.

     (f) If the Agent or a Lender determines that it has received a refund of any Taxes or
Other Taxes as to which it has been indemnified by the Obligors or with respect to which the
Obligors have paid additional amounts pursuant to this Section 2.16, it shall pay
over such refund to the Borrower or the Guarantor (but only to the extent of indemnity
payments made, or additional amounts paid, by the Borrower or the Guarantor under this
Section 2.16 with respect to the Taxes or Other Taxes giving rise to such refund),
net of all out-of-pocket expenses of the Agent, such Lender or the L/C Issuer, as the case
may be, and without interest (other than any interest paid by the relevant Governmental
Authority with respect to such refund); provided, that the Obligors, upon the request of the
Agent, such Lender or the L/C Issuer, agrees to repay the amount paid over to the Obligors
(plus any penalties, interest or other charges imposed by the relevant Governmental
Authority) to the Agent, such Lender or the L/C Issuer in the event the Agent, such Lender
or the L/C Issuer is required to repay such refund to such Governmental Authority. This
Section shall not be construed to require the Agent, any Lender or the L/C Issuer to make
available its tax returns (or any other information relating to its taxes which it deems
confidential) to the Borrower, the Guarantor, or any other Person.

     Section 2.17. Payments Generally; Pro Rata Treatment; Sharing of Set-offs. (a) The
Borrower shall make each payment required to be made by it hereunder (whether of principal,
interest or fees, or of amounts payable under Section 2.14, 2.15 or 2.16,
or otherwise) prior to 12:00 noon, New York City time, on the date when due, in immediately
available funds, without set-off or counterclaim. Any amounts received after such time on any date
may, in the discretion of the Agent, be deemed to have been received on the next succeeding
Business Day for purposes of calculating interest thereon. All such payments shall be made to the
Agent’s Office except that payments pursuant to Sections 2.14, 2.15, 2.16
and 9.03 shall be made directly to the Persons entitled thereto. The Agent shall
distribute any such payments received by it for the account of any other Person to the appropriate
recipient promptly following receipt thereof. If any payment hereunder shall be due on a day that
is not a Business Day, the date for payment shall be extended to the next succeeding Business Day,
and, in the case of any payment accruing interest, interest thereon shall be payable for the period
of such extension. All payments hereunder including but not limited to principal, interest, fees
and reimbursement of drawn Letters of Credit shall be made in Euros unless otherwise agreed to by
the parties hereto.

     (b) If at any time insufficient funds are received by and available to the Agent to pay
fully all amounts of principal, interest and fees then due hereunder, such funds shall be
applied (i) first, towards payment of interest and fees then due hereunder, ratably among
the parties entitled thereto in accordance with the amounts of interest and fees then due to
such parties, and (ii) second, towards payment of principal then due hereunder, ratably
among the parties entitled thereto in accordance with the amounts of principal then due to
such parties.

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     (c) If any Lender shall, by exercising any right of set-off or counterclaim or
otherwise, obtain payment in respect of any principal of or interest on any of the Loans
made by it or the participations in the L/C Obligations or the Swing Line Loans held by it
resulting in such Lender receiving payment of a greater proportion of the aggregate amount
of its Loans or participations and accrued interest thereon than the proportion received by
any other Lender, then the Lender receiving such greater proportion shall purchase (for cash
at face value) participations in the Loans and subparticipations in L/C Obligations and
Swing Line Loans of other Lenders to the extent necessary 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; provided that (i) if any such
participations or subparticipations are purchased and all or any portion of the payment
giving rise thereto is recovered, such participations or subparticipations shall be
rescinded and the purchase price restored to the extent of such recovery, without interest,
and (ii) the provisions of this paragraph shall not be construed to apply to any payment
made by the Borrower pursuant to and in accordance with the express terms of this Agreement
(including the application of funds arising from the existence of a Defaulting Lender) or
any payment obtained by a Lender as consideration for the assignment of or sale of a
participation in any of its Loans or subparticipations in L/C Obligations or Swing Line
Loans to any assignee or participant, other than to the Borrower or any Subsidiary or
Affiliate thereof (as to which the provisions of this paragraph 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 set-off 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.

     (d) Unless the Agent shall have received notice from the Borrower prior to the date on
which any payment is due to the Agent for the account of the Lenders hereunder that the
Borrower will not make such payment, the 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, as the case may be, the amount due. In such event, if the
Borrower has not in fact made such payment, then each of the Lenders, as the case may be,
severally agrees to repay to the Agent forthwith on demand the amount so distributed to such
Lender 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 Agent, at a rate determined by
the Agent in accordance with banking industry rules on interbank compensation.

     (e) If any Lender shall fail to make any payment required to be made by it pursuant to
Section 2.06(b) or 2.17(d), then the Agent may, in its discretion
(notwithstanding any contrary provision hereof), apply any amounts thereafter received by
the Agent for the account of such Lender to satisfy such Lender’s obligations under such
Sections until all such unsatisfied obligations are fully paid.

     Section 2.18. Mitigation Obligations; Replacement of Lenders. (a) If any Lender
requests compensation under Section 2.14, or if either Obligor is required to pay any
additional amount to any Lender or any Governmental Authority for the account of any Lender
pursuant to

44

 

Section 2.16, then 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 2.14 or 2.16, as the case may be, in the future and (ii) 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) If (i) any Lender requests compensation under Section 2.14, (ii) the
Borrower is required to pay any additional amount to any Lender or any Governmental
Authority for the account of any Lender pursuant to Section 2.16, (iii) any Lender
is a Defaulting Lender or (iv) in connection with any proposed amendment, modification,
waiver or consent, the consent of the Required Lenders has been obtained but the consent of
a Lender whose consent is required shall not have been obtained, then the Borrower may, at
its sole expense and effort, upon notice to such Lender and the Agent, require such Lender
to assign and delegate, without recourse (in accordance with and subject to the restrictions
contained in Section 9.04), all its interests, rights and obligations under this
Agreement to an assignee that shall assume such obligations (which assignee may be another
Lender, if a Lender accepts such assignment); provided that (x) the Borrower shall have
received the prior written consent of the Agent, which consent shall not unreasonably be
withheld or delayed, (y) 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, 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)
and (z) in the case of any such assignment resulting from a claim for compensation under
Section 2.14 or payments required to be made pursuant to Section 2.16, such
assignment will result in a reduction in such compensation or payments. A Lender shall not
be required to make any such assignment and 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 2.19. Defaulting Lenders.

     (a) Notwithstanding anything to the contrary contained in this Agreement, if any Lender
becomes a Defaulting Lender, then, until such time as that Lender is no longer a Defaulting
Lender, to the extent permitted by applicable Law:

     (i) That Defaulting Lender’s right to approve or disapprove any amendment,
waiver or consent with respect to this Agreement shall be restricted as set forth in
Section 9.02.

     (ii) Any payment of principal, interest, fees or other amounts received by the
Agent for the account of that Defaulting Lender (whether voluntary or mandatory, at
maturity, pursuant to Article VII or otherwise, and including any amounts
made available to the Agent by that Defaulting Lender pursuant to Section
9.08), shall be applied at such time or times as may be determined by the

45

 

Agent as follows: first, to the payment of any amounts owing by that Defaulting
Lender to the Agent hereunder; second, to the payment on a pro rata basis of any
amounts owing by that Defaulting Lender to the L/C Issuer or Swing Line Lender
hereunder; third, if so determined by the Agent or requested by the L/C Issuer or
Swing Line Lender, to be held as Cash Collateral for future funding obligations of
that Defaulting Lender of any participation in any Swing Line Loan or Letter of
Credit; fourth, as the Borrower may request (so long as no Default or Event of
Default exists), to the funding of any Loan in respect of which that Defaulting
Lender has failed to fund its portion thereof as required by this Agreement, as
determined by the Agent; fifth, if so determined by the Agent and the Borrower, to
be held in a non-interest bearing deposit account and released in order to satisfy
obligations of that Defaulting Lender to fund Loans under this Agreement; sixth, to
the payment of any amounts owing to the Lenders, the L/C Issuer or Swing Line Lender
as a result of any judgment of a court of competent jurisdiction obtained by any
Lender, the L/C Issuer or Swing Line Lender against that Defaulting Lender as a
result of that Defaulting Lender’s breach of its obligations under this Agreement;
seventh, so long as no Default or Event of Default exists, to the payment of any
amounts owing to the Borrower as a result of any judgment of a court of competent
jurisdiction obtained by the Borrower against that Defaulting Lender as a result of
that Defaulting Lender’s breach of its obligations under this Agreement; and eighth,
to that Defaulting Lender or as otherwise directed by a court of competent
jurisdiction; provided that if (x) such payment is a payment of the principal amount
of any Loans or L/C Borrowings in respect of which that Defaulting Lender has not
fully funded its appropriate share and (y) such Loans or L/C Borrowings were made at
a time when the conditions set forth in Section 4.02 were satisfied or
waived, such payment shall be applied solely to pay the Loans of, and L/C Borrowings
owed to, all non-Defaulting Lenders on a pro rata basis prior to being applied to
the payment of any Loans of, or L/C Borrowings owed to, that Defaulting Lender. Any
payments, prepayments or other amounts paid or payable to a Defaulting Lender that
are applied (or held) to pay amounts owed by a Defaulting Lender or to post Cash
Collateral pursuant to this Section 2.19(a)(ii) shall be deemed paid to and
redirected by that Defaulting Lender, and each Lender irrevocably consents hereto.

     (iii) That Defaulting Lender (x) shall not be entitled to receive any
commitment fee pursuant to Section 2.11(a) and (c) for any period
during which that Lender is a Defaulting Lender (and the Borrower shall not be
required to pay any such fee that otherwise would have been required to have been
paid to that Defaulting Lender) or be entitled to receive any utilization fee
pursuant to Section 2.11(b) for any period during which that Lender is a
Defaulting Lender except to the extent allocable to the sum of (1) the Outstanding
Amount of the Revolving Loans or Term Loans funded by it and (2) its Applicable
Percentage of the stated amount of Letters of Credit and Swing Line Loans for which
it has provided Cash Collateral pursuant to Section 2.05, Section
2.06, Section 2.19(a)(ii) or Section 2.20, as applicable (and
the Borrower shall (A) be required to pay to each of the L/C Issuer and the Swing
Line Lender, as applicable, the amount of such fee allocable to its Fronting
Exposure arising from that Defaulting Lender and (B) not

46

 

be required to pay the remaining amount of such fee that otherwise would have
been required to have been paid to that Defaulting Lender) and (y) shall be limited
in its right to receive Letter of Credit Fees as provided in Section
2.05(h).

     (iv) During any period in which there is a Defaulting Lender, for purposes of
computing the amount of the obligation of each non-Defaulting Lender to acquire,
refinance or fund participations in Letters of Credit or Swing Line Loans pursuant
to Sections 2.05 and 2.06, the “Applicable Percentage” of each
non-Defaulting Lender shall be computed without giving effect to the Revolving
Commitment of that Defaulting Lender; provided, that, (i) each such reallocation
shall be given effect only if, at the date the applicable Lender becomes a
Defaulting Lender, no Default or Event of Default exists; and (ii) the aggregate
obligation of each non-Defaulting Lender to acquire, refinance or fund
participations in Letters of Credit and Swing Line Loans shall not exceed the
positive difference, if any, of (1) the Revolving Commitment of that non-Defaulting
Lender minus (2) the aggregate Outstanding Amount of the Revolving Loans of that
Lender.

     (b) If the Borrower, the Guarantor, the Agent, Swing Line Lender and the L/C Issuer
agree in writing in their sole discretion that a Defaulting Lender should no longer be
deemed to be a Defaulting Lender, the Agent will so notify the parties hereto, whereupon as
of the effective date specified in such notice and subject to any conditions set forth
therein (which may include arrangements with respect to any Cash Collateral), such
Defaulting Lender will, to the extent applicable, purchase that portion of outstanding Loans
of the other Lenders or take such other actions as the Agent may determine to be necessary
to cause the Revolving Loans or Term Loans and funded and unfunded participations in Letters
of Credit and Swing Line Loans to be held on a pro rata basis by the Lenders in accordance
with their Applicable Percentages (without giving effect to Section 2.19(a)(iv)),
whereupon such Defaulting Lender will cease to be a Defaulting Lender; provided that no
adjustments will be made retroactively with respect to fees accrued or payments made by or
on behalf of the Borrower while that Lender was a Defaulting Lender; and provided, further,
that except to the extent otherwise expressly agreed by the affected parties, no change
hereunder from Defaulting Lender to Lender will constitute a waiver or release of any claim
of any party hereunder arising from that Lender’s having been a Defaulting Lender.

     Section 2.20. Cash Collateral.

     (a) Upon the request of the Agent or the L/C Issuer (i) if the L/C Issuer has honored
any full or partial drawing request under any Letter of Credit and such drawing has resulted
in an L/C Borrowing, or (ii) if, as of the Letter of Credit Expiration Date, any L/C
Obligation for any reason remains outstanding, the Borrower shall, in each case, immediately
Cash Collateralize the then Outstanding Amount of all L/C Obligations. At any time that
there shall exist a Defaulting Lender, immediately upon the request of the Agent, the L/C
Issuer or the Swing Line Lender, the Borrower shall deliver to the Agent Cash Collateral in
an amount sufficient to cover all Fronting Exposure (after giving effect to Section
2.19(a)(iv) and any Cash Collateral provided by the Defaulting Lender).

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     (b) All Cash Collateral (other than credit support not constituting funds subject
to deposit) shall be maintained in blocked, non-interest bearing deposit accounts at Bank of
America. The Borrower, and to the extent provided by any Lender, such Lender, hereby grants
to (and subjects to the control of) the Agent, for the benefit of the Agent, the L/C Issuer
and the Lenders (including the Swing Line Lender), and agrees to maintain, a first priority
security interest in all such cash, deposit accounts and all balances therein, and all other
property so provided as collateral pursuant hereto, and in all proceeds of the foregoing,
all as security for the obligations to which such Cash Collateral may be applied pursuant to
Section 2.20(c). If at any time the Agent reasonably determines that Cash Collateral is
subject to any right or claim of any Person other than the Agent as herein provided, or that
the total amount of such Cash Collateral is less than the applicable Fronting Exposure and
other obligations secured thereby, the Borrower or the relevant Defaulting Lender will,
promptly upon demand by the Agent, pay or provide to the Agent additional Cash Collateral in
an amount sufficient to eliminate such deficiency.

     (c) Notwithstanding anything to the contrary contained in this Agreement, Cash
Collateral provided under any of this Section 2.20 or Sections 2.05, 2.06, 2.09 or
2.18 or Article VII in respect of Letters of Credit or Swing Line Loans
shall be held and applied to the satisfaction of the specific L/C Obligations, Swing Line
Loans, obligations to fund participations therein (including, as to Cash Collateral provided
by a Defaulting Lender, any interest accrued on such obligation) and other obligations for
which the Cash Collateral was so provided, prior to any other application of such property
as may be provided for herein.

     (d) Cash Collateral (or the appropriate portion thereof) provided to reduce Fronting
Exposure or other obligations shall be released promptly following (i) the elimination of
the applicable Fronting Exposure or other obligations giving rise thereto (including by the
termination of Defaulting Lender status of the applicable Lender (or, as appropriate, its
assignee following compliance with Section 9.04(b))) or (ii) the Agent’s good faith
determination that there exists excess Cash Collateral; provided, however, (x) that Cash
Collateral furnished by or on behalf of an Obligor shall not be released during the
continuance of a Default or Event of Default (and following application as provided in this
Section 2.20 may be otherwise applied in accordance with Article VII), and
(y) the Person providing Cash Collateral and the L/C Issuer or Swing Line Lender, as
applicable, may agree that Cash Collateral shall not be released but instead held to support
future anticipated Fronting Exposure or other obligations.

ARTICLE III

REPRESENTATIONS AND WARRANTIES

     The Borrower (as to itself) and the Guarantor (as to itself and its Subsidiaries) represent
and warrant to the Lenders that:

     Section 3.01. Organization; Powers. Each Obligor is duly organized, validly existing
and in good standing (or the equivalent) under the laws of the jurisdiction of its organization,
has

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all requisite power and authority to carry on its business as now conducted and is qualified
to do business in, and is in good standing in, every jurisdiction where such qualification is
required, except where the failure to do so, individually or in the aggregate, could not reasonably
be expected to result in a Material Adverse Effect.

     Section 3.02. Authorization; Enforceability. The Transactions are within each
Obligor’s corporate or other organizational powers and have been duly authorized by all necessary
corporate or other organizational action. This Agreement has been duly executed and delivered by
each Obligor and constitutes a legal, valid and binding obligation of each Obligor, enforceable in
accordance with its terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium
or other laws affecting creditors’ rights generally and subject to general principles of equity,
regardless of whether considered in a proceeding in equity or at law.

Each Loan Document is in proper legal form under the law of Luxembourg for the enforcement thereof
against the Borrower under such law, and all formalities required in Luxembourg for the validity
and enforceability of each Loan Document have been accomplished and no Taxes (other than
Registration Duty, if any) are required to be paid and no notarization is required, other than any
taxes paid or notarizations received prior to or concurrently with the execution hereof for the
validity and enforceability thereof.

     Section 3.03. Governmental Approvals; No Conflicts. The Transactions (a) do not
require any consent or approval of, registration or filing with, or any other action by, any
Governmental Authority, except such as have been obtained or made and are in full force and effect,
(b) will not violate any applicable law or regulation or the charter, by-laws or other
organizational documents of either Obligor or any order of any Governmental Authority, (c) will not
result in a material violation of or default under any indenture or other material agreement or
instrument binding upon the Guarantor or any of the Subsidiaries or their assets, or give rise to a
right thereunder to require any payment to be made by the Guarantor or any of the Subsidiaries, and
(d) will not result in the creation or imposition of any material Liens on any material assets of
the Guarantor or any of the Subsidiaries.

     Section 3.04. Financial Condition; No Material Adverse Change. (a) The Guarantor
has heretofore furnished to the Lenders (i) its audited consolidated balance sheet and statements
of consolidated income, stockholders’ equity and comprehensive income and cash flows as of and for
the fiscal year ended December 31, 2009, reported on by the independent registered public
accounting firm, and (ii) its unaudited consolidated balance sheet and statements of consolidated
income and cash flows as of and for the fiscal quarter ended March 31, 2010, certified by a
Financial Officer of the Borrower. Such consolidated financial statements present fairly, in all
material respects, the financial position and results of operations and cash flows of the Guarantor
and its consolidated Subsidiaries as of such dates and for such periods in accordance with GAAP,
subject to the absence of footnotes in the case of the statements referred to in clause (ii) above.

     (b) As of the Effective Date, since December 31, 2009, there has been no Material
Adverse Effect and there has been no event or circumstance that could reasonably be expected
to result in a Material Adverse Effect.

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     Section 3.05. Properties. (a) The Guarantor and each Material Subsidiary has good
title to, or valid leasehold interests in, all real and personal property necessary or used in the
ordinary conduct of its business, except for such defects in title or interests as would not,
individually or in aggregate, reasonably be expected to result in a Material Adverse Effect.

     (b) The Guarantor and each Subsidiary owns, or is licensed to use, all trademarks,
tradenames, copyrights, patents and other intellectual property material to its business,
except where the failure so to own, or so to be licensed, could not reasonably be expected
to have a Material Adverse Effect, and to the knowledge of any Financial Officer of the
Guarantor and the Borrower after due inquiry, the use thereof by the Guarantor and its
Subsidiaries does not infringe upon the rights of any other Person, except for any such
infringements that, individually or in the aggregate, could not reasonably be expected to
result in a Material Adverse Effect.

     Section 3.06. Litigation and Environmental Matters. (a) Except as disclosed in the
Guarantor’s periodic reports filed prior to the date hereof under the Securities Exchange Act of
1934, there are no actions, suits or proceedings by or before any arbitrator or Governmental
Authority pending against or, to the knowledge of any Financial Officer of the Guarantor or the
Borrower after due inquiry, threatened against the Guarantor or any of the Subsidiaries (i) that
could reasonably be expected to be adversely determined and that, if adversely determined, could
reasonably be expected to result in a Material Adverse Effect or (ii) that involve this Agreement
or the Transactions.

     (b) Except as disclosed in the Guarantor’s periodic reports filed prior to the date
hereof under the Securities Exchange Act of 1934, and except with respect to any other
matters that, individually or in the aggregate, could not reasonably be expected to result
in a Material Adverse Effect, neither the Guarantor nor any of its Material Subsidiaries (i)
has failed to comply with any Environmental Law or to obtain, maintain or comply with any
permit, license or other approval required under any Environmental Law, (ii) has become
subject to any Environmental Liability, (iii) has received written notice of any claim with
respect to any Environmental Liability or (iv) knows of any basis for any Environmental
Liability.

     Section 3.07. Compliance with Laws and Agreements. The Guarantor and each Material
Subsidiary is in compliance with all laws, regulations and orders of any Governmental Authority
applicable to it or its property, except where such compliance is being contested in good faith
through appropriate proceedings or except where the failure, individually or in the aggregate,
could not reasonably be expected to result in a Material Adverse Effect. Neither the Guarantor nor
any of its Material Subsidiaries is in default with respect to any of its material obligations
under any indenture, agreement or other instrument binding upon it or its property which,
individually or in the aggregate, could reasonably be expected to result in a Material Adverse
Effect.

     Section 3.08. Federal Reserve Regulations. (a) Neither the Guarantor nor any of the
Subsidiaries is engaged principally, or as one of its important activities, in the business of
extending credit for the purpose of purchasing or carrying Margin Stock.

50

 

     (b) No part of the proceeds of the Loans has been or will be used, whether directly or
indirectly, and whether immediately, incidentally or ultimately, for any purpose that
entails a violation of the provisions of the Regulations of the Board, including, without
limitation, Regulation U or X thereof. Not more than 25% of the assets subject to the
restrictions of Section 6.01, valued in accordance with Regulation U, will at any
time consist of Margin Stock.

     Section 3.09. Investment Company Status. Neither the Guarantor nor any of the
Subsidiaries is an “investment company” as defined in, or subject to regulation under, the
Investment Company Act of 1940.

     Section 3.10. Taxes. The Guarantor and each Subsidiary has timely filed or caused to
be filed or received an extension of the time to file all tax returns and reports required to have
been filed and has paid or caused to be paid all Taxes required to have been paid by it, except (a)
Taxes that are being contested in good faith by appropriate proceedings and for which the Guarantor
or such Subsidiary, as applicable, has set aside on its books adequate reserves to the extent
required to do so in accordance with GAAP or (b) to the extent that the failure to do so could not
reasonably be expected to result in a Material Adverse Effect.

There is no Tax of any kind imposed by Luxembourg (or any municipality or other political
subdivision or taxing authority thereof or therein that exercises de facto or de jure power to
impose such Tax) either (a) on or by virtue of the execution or delivery of the Loan Documents, or
(b) on any payment to be made by the Borrower pursuant to the Loan Documents, other than any such
tax, levy, assessment, impost, deduction, charge or withholding imposed on any Person as a result
of such Person’s being organized under the laws of Luxembourg or by virtue of its having a
permanent establishment in Luxembourg to which income under the Loan Documents is attributable or
its applicable lending office being located in Luxembourg.

     Section 3.11. ERISA. No ERISA Event has occurred or is reasonably expected to occur
that, when taken together with all other ERISA Events, could reasonably be expected to result in a
Material Adverse Effect. The Guarantor and its Subsidiaries have not incurred any material
accumulated funding deficiency within the meaning of ERISA. As used in this Section 3.11,
“material” means the measure of a matter of significance that shall be determined as being an
amount equal to 10% of Consolidated Net Worth.

     Section 3.12. Disclosure. No written reports, financial statements, certificates or
other written information furnished or to be furnished by each Obligor to the Agent or any Lender
in connection with the negotiation of this Agreement or delivered or to be delivered hereunder (as
modified or supplemented by other information so furnished) by each Obligor contains or will
contain any material misstatement of fact or omits or will omit to state any material fact
necessary to make the statements therein, in the light of the circumstances under which they were
made, not misleading; provided that, with respect to any projected financial information, each
Obligor represents only that such information was prepared in good faith based upon assumptions
believed to be reasonable at the time.

     Section 3.13. Commercial Activity. The Borrower is subject to civil and commercial
law with respect to its obligations under the Loan Documents, and the making and performance

51

 

of the Loan Documents by the Borrower constitute private and commercial acts rather than
public or governmental acts. The Borrower is not entitled to any immunity on the ground of
sovereignty or the like from the jurisdiction of any court or from any action, suit, setoff or
proceeding, or the service of process in connection therewith, arising under the Loan Documents.

     Section 3.14. Pari Passu Ranking. The payment obligations of the Borrower under the
Loan Documents are and will at all times be unsubordinated general obligations of the Borrower, and
rank and will at all times rank at least pari passu with all other present and future
unsubordinated unsecured Indebtedness of the Borrower.

     Section 3.15. Foreign Assets Control Regulations. None of the execution, delivery
and performance of this Agreement nor any of the other Loan Documents, nor its use of the proceeds
of the Loans made hereunder, will violate the Trading with the Enemy Act, as amended, or any of the
foreign assets control regulations of the United States Treasury Department (31 CFR, Subtitle B,
Chapter V, as amended) or any enabling legislation or executive order relating thereto.

ARTICLE IV

CONDITIONS

     Section 4.01. Effective Date. The obligations of the Lenders to make Loans and the
L/C Issuer to issue Letters of Credit hereunder shall not become effective until the date on which
each of the following conditions is satisfied:

     (a) The Agent (or its counsel) shall have received from each party hereto a counterpart
of this Agreement signed on behalf of such party.

     (b) The Agent shall have received favorable written opinions (addressed to the Agent
and the Lenders and dated the Effective Date) of (i) L.E. Stellato, Senior Vice President,
General Counsel and Secretary of the Guarantor, (ii) Jones Day relating to the Borrower, the
Guarantor, this Agreement and the Transactions, and (iii) Bonn Schmitt Steichen, Luxembourg
counsel to the Borrower, in each case in form and substance reasonably satisfactory to the
Agent and its counsel.

     (c) The Agent shall have received such documents and certificates as the Agent or its
counsel may reasonably request relating to the organization, existence and good standing (or
equivalent) of each Obligor, the authorization of the Transactions and any other legal
matters relating to each Obligor, this Agreement or the Transactions, all in form and
substance reasonably satisfactory to the Agent and its counsel.

     (d) The Agent shall have received a certificate, dated the Effective Date and signed by
the President, a Vice President or a Financial Officer of each Obligor, confirming (i) the
representations and warranties of each Obligor set forth in this Agreement shall be true and
correct in all material respects on and as of the Effective Date and (ii) no Default shall
have occurred and be continuing both prior to and immediately after giving effect to the
Loan.

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     (e) The Agent shall have received all fees and other amounts due and payable on or
prior to the Effective Date, including, to the extent invoiced to the Guarantor at least two
days prior to the Effective Date, reimbursement or payment of all out-of-pocket expenses
required to be reimbursed or paid by each Obligor hereunder.

     Section 4.02. Each Credit Event. The obligation of each Lender to make a Loan on the
occasion of each Borrowing and the L/C Issuer to issue or amend Letters of Credit is subject to the
satisfaction of the following conditions:

     (a) The representations and warranties of the Obligors set forth in this Agreement
(other than those set forth in Sections 3.04(b) and 3.06) shall be true and
correct in all material respects on and as of the date of such Borrowing.

     (b) At the time of and immediately after giving effect to such Borrowing, no Default
shall have occurred and be continuing.

Each Borrowing shall be deemed to constitute a representation and warranty by the Obligors on the
date thereof as to the matters specified in paragraphs (a) and (b) of this Section.

ARTICLE V

AFFIRMATIVE COVENANTS

     Until the Commitments have expired or been terminated and the principal of and interest on
each Loan and all fees payable hereunder shall have been paid in full (other than contingent
indemnity obligations), each Obligor covenants and agrees with the Lenders that:

     Section 5.01. Financial Statements; Ratings Change and Other Information. The
Guarantor will furnish to the Agent and each Lender:

     (a) within 90 days after the end of each fiscal year of the Guarantor, its audited
consolidated balance sheet and statements of consolidated income, stockholders’ equity and
comprehensive income and cash flows as of the end of and for such year, setting forth in
each case in comparative form the figures for the previous fiscal year, all reported on by
the independent registered public accounting firm (without a “going concern” or like
qualification or exception and without any qualification or exception as to the scope of
such audit) to the effect that such consolidated financial statements present fairly, in all
material respects, the consolidated financial position and consolidated results of
operations and cash flows of the Guarantor and the consolidated Subsidiaries on a
consolidated basis in conformity with GAAP;

     (b) within 45 days after the end of each of the first three fiscal quarters of each
fiscal year of the Guarantor, its unaudited consolidated balance sheet and statements of
income and cash flows as of the end of and for such fiscal quarter and the then elapsed
portion of the fiscal year, setting forth in each case in comparative form the figures for
the corresponding period or periods of (or, in the case of the balance sheet, as of the end
of) the previous fiscal year, all certified by one of its Financial Officers as presenting
fairly in all material respects the financial condition and results of operations and cash

53

 

flows of the Guarantor and its consolidated Subsidiaries on a consolidated basis in
accordance with GAAP, subject to the absence of footnotes;

     (c) concurrently with any delivery of financial statements under clause (a) or (b)
above, a certificate of a Financial Officer of the Guarantor (i) certifying as to whether a
Default has occurred and, if a Default has occurred, specifying the details thereof and any
action taken or proposed to be taken with respect thereto, and (ii) setting forth reasonably
detailed calculations demonstrating compliance with Section 6.03;

     (d) promptly after the same become publicly available, copies of all reports on Forms
10-K, 10-Q and 8-K (or any substitute or successor forms) filed by any Obligor with the
Securities and Exchange Commission, or any Governmental Authority succeeding to any or all
of the functions of said Commission, or distributed by the Borrower to its shareholders
generally, as the case may be;

     (e) promptly after Moody’s, S&P or Fitch shall have announced a change in the rating
established or deemed to have been established for the Index Debt, written notice of such
rating change;

     (f) promptly following a request therefor, all documentation and other information that
any Lender reasonably requests as necessary in order for it to comply with its ongoing
obligations under applicable “know your customer” and anti-money laundering rules and
regulations, including the USA Patriot Act; and

     (g) promptly following any request therefor, such other information regarding the
operations, business affairs and financial condition of the Guarantor or any Material
Subsidiary, or compliance with the terms of this Agreement, as the Agent or any Lender may
reasonably request.

Information required to be delivered pursuant to this Section shall be deemed to have been
delivered if such information, or one or more annual or quarterly reports containing such
information, shall have been posted by the Agent on an IntraLinks or similar site to which the
Lenders have been granted access or shall be available on the website of the Securities and
Exchange Commission at http://www.sec.gov and, in either case, a confirming electronic
correspondence shall have been delivered or caused to be delivered to the Lenders providing notice
of such posting or availability; provided that the Guarantor shall deliver paper copies of
such information to any Lender that requests such delivery. Information required to be delivered
pursuant to this Section may also be delivered by electronic communications pursuant to procedures
approved by the Agent.

     Section 5.02. Notices of Material Events. Each Obligor will furnish to the Agent and
each Lender written notice of the following promptly after any Financial Officer of such Obligor
becomes aware thereof:

     (a) the occurrence of any Default;

     (b) the filing or commencement of any action, suit or proceeding by or before any
arbitrator or Governmental Authority against or affecting the Guarantor or any

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Subsidiary that could reasonably be expected to be adversely determined and, if
adversely determined, to result in a Material Adverse Effect; and

     (c) the occurrence of any ERISA Event that, alone or together with any other ERISA
Events that have occurred, could reasonably be expected to result in liability of the
Guarantor or any Subsidiary in an aggregate amount exceeding $50,000,000.

Each notice delivered under this Section shall be accompanied by a statement of a Financial Officer
or other executive officer of the applicable Obligor setting forth the details of the event or
development requiring such notice and any action taken or proposed to be taken with respect
thereto.

     Section 5.03. Existence; Conduct of Business. The Guarantor will, and will cause
each of the Material Subsidiaries to, do or cause to be done all things necessary to preserve,
renew and keep in full force and effect its legal existence and the rights, licenses, permits,
privileges and franchises material to the conduct of its business except where the failure to do so
could not reasonably be expected to have a Material Adverse Effect; provided that the foregoing
shall not prohibit any merger or consolidation of the Borrower or the Guarantor permitted under
Section 6.02 or any merger, consolidation, liquidation or dissolution of a Subsidiary that
is not otherwise prohibited by the terms of this Agreement.

     Section 5.04. Payment of Obligations. The Guarantor will, and will cause each of the
Material Subsidiaries to, 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 (a) the validity or amount thereof is being contested in
good faith by appropriate proceedings, (b) the Guarantor or such Subsidiary has set aside on its
books adequate reserves with respect thereto in accordance with GAAP and (c) the failure to make
payment pending such contest could not reasonably be expected to result in a Material Adverse
Effect.

     Section 5.05. Maintenance of Properties; Insurance. The Guarantor will, and will
cause each of the Material Subsidiaries to, (a) keep and maintain all property material to the
conduct of its business in good working order and condition, ordinary wear and tear excepted,
except where the failure to do so could not reasonably be expected to have a Material Adverse
Effect, and (b) maintain, with financially sound and reputable insurance companies, insurance or
maintain a self-insurance program in such amounts and against such risks as are customarily
maintained by companies of similar size and financial strength engaged in the same or similar
businesses operating in the same or similar locations (including without limitation by the
maintenance of adequate self-insurance reserves to the extent customary among such companies).

     Section 5.06. Books and Records; Inspection Rights. The Guarantor will, and will
cause each of the Material Subsidiaries to, keep proper books of record and account in which full,
true and correct entries are made of all dealings and transactions in relation to its business and
activities. The Guarantor will, and will cause each of the Material Subsidiaries to, permit any
representatives designated by the Agent or any Lender, at their own expense if an Event of Default
has not occurred and is continuing, upon reasonable prior notice, to visit and inspect its

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properties, to examine and make extracts from its books and records, and to discuss its
affairs, finances and condition with its officers, all at such reasonable times and as often as
reasonably requested.

     Section 5.07. Compliance with Laws. The Guarantor will, and will cause each of the
Material Subsidiaries to, comply with all laws, rules, regulations and orders of any Governmental
Authority applicable to it or its property, except where the failure to do so, individually and in
the aggregate, could not reasonably be expected to result in a Material Adverse Effect.

     Section 5.08. Use of Proceeds. The proceeds of the Loans will be used for the
purposes referred to in the preamble to this Agreement.

     Section 5.09. Existing HSBC Credit Agreement. On or before the date that is three
Business Days after the Borrower receives the proceeds of the first Borrowing hereunder, the
Borrower shall pay in full all of the obligations (other than contingent indemnity obligations)
under the Existing HSBC Credit Agreement and the Existing HSBC Credit Agreement shall be
terminated.

ARTICLE VI

NEGATIVE COVENANTS

     Until the Commitments have expired or terminated and the principal of and interest on each
Loan and all fees payable hereunder have been paid in full (other than contingent indemnity
obligations), each Obligor covenants and agrees with the Lenders that:

     Section 6.01. Liens. The Guarantor will not, and will not permit any Subsidiary to,
create, incur, assume or permit to exist any Lien on any property or asset now owned or hereafter
acquired by it, or assign or sell any income or revenues (including accounts receivable) or rights
in respect of any thereof, except:

     (a) any Lien on any property or asset of the Guarantor or any Subsidiary existing on
the date hereof; provided that (i) such Lien shall not apply to any other property or asset
of the Guarantor or any Subsidiary and (ii) such Lien shall secure only those obligations
which it secures on the date hereof and extensions, renewals and replacements thereof that
do not increase the outstanding principal amount thereof that is secured by such Lien as of
the date hereof;

     (b) Permitted Encumbrances;

     (c) any Lien existing on any property or asset prior to the acquisition thereof by the
Guarantor or any Subsidiary or existing on any property or asset of any Person that becomes
a Subsidiary after the date hereof prior to the time such Person becomes a Subsidiary;
provided that (i) such Lien is not created in contemplation of or in connection with such
acquisition or such Person becoming a Subsidiary, as the case may be, (ii) such Lien shall
not apply to any other property or assets of the Guarantor or any Subsidiary and (iii) such
Lien shall secure only those obligations which it secures on the date of such acquisition or
the date such Person becomes a Subsidiary, as the case may be, and

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extensions, renewals and replacements thereof that do not increase the outstanding
principal amount thereof that is secured by such Lien as of such date;

     (d) any Lien on real property or fixed or capital assets acquired, constructed or
improved by the Guarantor or any Subsidiary, and extensions, renewals and replacements
thereof that do not increase the outstanding principal amount thereof that is secured by
such Lien; provided that (i) such Lien and the Indebtedness secured thereby are incurred
prior to or within one year after such acquisition or the completion of such construction or
improvement, (ii) the Indebtedness secured thereby is incurred to pay, and does not exceed,
the cost of acquiring, constructing or improving such fixed or capital assets and (iii) such
Lien shall not apply to any other property or assets of the Guarantor or any Subsidiary;

     (e) any Lien on property or assets of the Guarantor or any Subsidiary in favor of the
Guarantor or any Subsidiary;

     (f) Securitization Transactions (and Liens deemed to exist in connection therewith) in
an aggregate amount not to exceed $300,000,000;

     (g) Liens arising from any synthetic lease transaction pursuant to which the Guarantor
or any Subsidiary is a lessee;

     (h) Liens on or pledges of cash or cash equivalents securing the obligations of the
Guarantor or any Subsidiary under or in connection with any Hedging Agreement, so long as
the aggregate amount of all cash or cash equivalents subject to such Liens or pledges does
not exceed $25,000,000 at any time;

     (i) Liens created, assumed or existing in connection with financings the interest
payable in respect of which is exempt from Federal income taxation under Section 103 of the
Code or any successor provision;

     (j) any Lien arising out of the refinancing, extension, renewal or refunding of
Indebtedness secured by any Lien permitted by any of the foregoing paragraphs, provided that
(i) such Indebtedness is not secured by any additional assets unless such additional Liens
are otherwise permitted pursuant to this Section, and (ii) the amount of such Indebtedness
secured by such Lien is not increased (it being agreed that any such refinancing, extension,
renewal or refunding of Indebtedness incurred under a basket expressed as a dollar amount in
any of the foregoing paragraphs of this Section will be applied against and reduce the
amount available under such basket); and

     (k) in addition to the Liens permitted pursuant to any of the foregoing subsections,
other Liens securing Indebtedness in an amount not greater than 20% of Consolidated Net
Worth at any time.

     Section 6.02. Fundamental Changes. Each Obligor agrees that it will not merge into
or consolidate with any other Person, or permit any other Person to merge into or consolidate with
it, or sell, transfer, lease or otherwise dispose of (in one transaction or in a series of
transactions and including by means of any merger or sale of capital stock or otherwise) all or
substantially

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all of its assets (whether now owned or hereafter acquired), or liquidate or dissolve, except
that, if at the time thereof and immediately after giving effect thereto no Default shall have
occurred and be continuing, any Person may merge with or into or consolidate with each Obligor if
(i) the applicable Obligor is the surviving Person and (ii) after giving effect to such transaction
no Default shall exist.

     Section 6.03. Leverage Ratio. The Guarantor will not permit the Leverage Ratio at
any time to exceed 3.00 to 1.00.

ARTICLE VII

EVENTS OF DEFAULT

     If any of the following events (“Events of Default”) shall occur:

     (a) the Borrower shall fail to pay any principal of any Loan or any L/C Obligation 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;

     (b) the Borrower shall fail to pay any interest on any Loan or on any L/C Obligation,
or any fee or any other amount (other than an amount referred to in clause (a) of this
Article) 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 Business Days;

     (c) any representation or warranty made or deemed made by or on behalf of the
Guarantor, Borrower or any Subsidiary in or in connection with this Agreement or any
amendment or modification hereof or waiver hereunder, or in any report, certificate,
financial statement or other document furnished pursuant to or in connection with this
Agreement or any amendment or modification hereof or waiver hereunder, shall prove to have
been incorrect in any material respect when made or deemed made;

     (d) any Obligor shall fail to observe or perform any covenant, condition or agreement
contained in Section 5.02, 5.03 (but only with respect to such Obligor’s
existence) or 5.09 or in Article VI;

     (e) any Obligor shall fail to observe or perform any covenant, condition or agreement
contained in this Agreement (other than those specified in clause (a), (b) or (d) of this
Article), and such failure shall continue unremedied for a period of 30 days after written
notice thereof from the Agent to the Obligors (which notice will be given at the request of
any Lender);

     (f) the Guarantor or any Subsidiary shall fail to make any payment (whether of
principal or interest and regardless of amount) in respect of any Material Indebtedness,
when and as the same shall become due and payable (subject to any applicable grace period);

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     (g) any event or condition occurs and, while continuing, results in any Material
Indebtedness becoming due prior to its scheduled maturity or that enables or permits
(subject to any applicable grace period) the holder or holders of any Material Indebtedness
or any trustee or agent on its or their behalf to cause any Material Indebtedness to become
due, or to require the prepayment, repurchase, redemption or defeasance thereof, prior to
its scheduled maturity; provided that this clause (g) shall not apply to secured
Indebtedness that becomes due as a result of the voluntary sale or transfer of the property
or assets securing such Indebtedness or to Capital Leases that terminate as a result of the
voluntary sale or transfer of or a casualty or condemnation affecting the property or assets
subject thereto;

     (h) an involuntary proceeding shall be commenced or an involuntary petition shall be
filed seeking (i) liquidation, reorganization or other relief in respect of the Guarantor or
any Material Subsidiary, or its debts, or of a substantial part of its assets, under any
Federal, state or foreign bankruptcy, insolvency, receivership or similar law now or
hereafter in effect or (ii) the appointment of a receiver, trustee, custodian, sequestrator,
conservator or similar official for the Guarantor or any Material Subsidiary or for a
substantial part of its assets, and, in any such case, such proceeding or petition shall
continue undismissed for 60 days or an order or decree approving or ordering any of the
foregoing shall be entered;

     (i) the Guarantor or any Material Subsidiary shall (i) voluntarily commence any
proceeding or file any petition seeking liquidation, reorganization or other relief under
any Federal, state or foreign bankruptcy, insolvency, receivership or similar law now or
hereafter in effect, (ii) consent to the institution of, or fail to contest in a timely and
appropriate manner, any proceeding or petition described in clause (h) of this Article,
(iii) apply for or consent to the appointment of a receiver, trustee, custodian,
sequestrator, conservator or similar official for the Guarantor or any Material Subsidiary
or for a substantial part of its assets, (iv) file an answer admitting the material
allegations of a petition filed against it in any such proceeding, (v) make a general
assignment for the benefit of creditors or (vi) take any action for the purpose of effecting
any of the foregoing;

     (j) the Guarantor or any Material Subsidiary shall become unable, admit in writing its
inability or fail generally to pay its debts as they become due;

     (k) one or more judgments for the payment of money in an aggregate amount in excess of
$75,000,000 and not covered by insurance shall be rendered against the Guarantor, any
Subsidiary or any combination thereof and the same shall remain undischarged for a period of
60 consecutive days during which execution shall not be effectively stayed, vacated or
bonded pending appeal, or any action shall be legally taken by a judgment creditor to attach
or levy upon material assets of the Guarantor or any Subsidiary to enforce one or more
judgments for the payment of money in an aggregate amount in excess of $75,000,000;

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     (l) an ERISA Event shall have occurred that, when taken together with all other ERISA
Events that have occurred, could reasonably be expected to result in a Material Adverse
Effect; or

     (m) a Change in Control shall have occurred;

then, and in every such event (other than an event with respect to an Obligor described in
clause (h) or (i) of this Article), and at any time thereafter during the continuance of
such event, the Agent may, and at the request of the Required Lenders shall, by written
notice to the Borrower, take either or both of the following actions, at the same or
different times: (i) terminate the commitment of each Lender to make Loans and any
obligation of the L/C Issuer to make L/C Credit Extensions and thereupon such commitments
and obligations shall terminate immediately, (ii) declare the Loans then outstanding to be
due and payable in whole (or in part, in which case any principal not so declared to be due
and payable may thereafter be declared to be due and payable), and thereupon the principal
of the Loans so declared to be due and payable, together with accrued interest thereon and
all fees and other obligations of the Borrower accrued hereunder, shall become due and
payable immediately, without presentment, demand, protest or other notice of any kind, all
of which are hereby waived by the Borrower; and in case of any event with respect to an
Obligor described in clause (h) or (i) of this Article, the Commitments shall automatically
terminate and the principal of the Loans then outstanding, together with accrued interest
thereon and all fees and other obligations of the Borrower accrued hereunder, shall
automatically become due and payable, without presentment, demand, protest or other notice
of any kind, all of which are hereby waived by the Borrower and (iii) require that the
Borrower Cash Collateralize the L/C Obligations (in an amount equal to the then Outstanding
Amount thereof).

ARTICLE VIII

THE AGENT

     Each of the Lenders and the L/C Issuer hereby irrevocably appoints the Agent as its agent and
authorizes the Agent to take such actions on its behalf and to exercise such powers as are
delegated to the Agent by the terms hereof, together with such actions and powers as are reasonably
incidental thereto. Except with respect to the consent rights of the Borrower relating to a
successor agent as set forth below, the provisions of this Article are solely for the benefit of
the Agent, the Lenders and the L/C Issuer, and the Borrower shall not have rights as a third party
beneficiary of any of such provisions.

     The bank serving as the Agent hereunder shall have the same rights and powers in its capacity
as a Lender as any other Lender and may exercise the same as though it were not the Agent, and such
bank and its Affiliates may accept deposits from, lend money to and generally engage in any kind of
business with the Guarantor or any Subsidiary or other Affiliate thereof as if it were not the
Agent hereunder.

     The Agent shall not have any duties or obligations except those expressly set forth herein.
Without limiting the generality of the foregoing, (a) the Agent shall not be subject to any

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fiduciary or other implied duties, regardless of whether a Default has occurred and is
continuing, (b) the Agent shall not have any duty to take any discretionary action or exercise any
discretionary powers, except discretionary rights and powers expressly contemplated hereby that the
Agent is required to exercise in writing as directed by the Required Lenders (or such other number
or percentage of the Lenders as shall be necessary under the circumstances as provided in
Section 9.02), and (c) except as expressly set forth herein, the Agent shall not have any
duty to disclose, and shall not be liable for the failure to disclose, any information relating to
the Guarantor or any of its Subsidiaries that is communicated to or obtained by the bank serving as
Agent or any of its Affiliates in any capacity. The Agent shall not be liable for any action taken
or not taken by it with the consent or at the request of the Required Lenders (or such other number
or percentage of the Lenders as shall be necessary under the circumstances as provided in
Section 9.02) or in the absence of its own gross negligence or willful misconduct. The
Agent shall be deemed not to have knowledge of any Default unless and until written notice thereof
is given to the Agent by any Obligor, a Lender or the L/C Issuer, and the Agent shall not be
responsible for or have any duty to ascertain or inquire into (i) any statement, warranty or
representation made in or in connection with this Agreement, (ii) the contents of any certificate,
report or other document delivered hereunder or in connection herewith, (iii) the performance or
observance of any of the covenants, agreements or other terms or conditions set forth herein or the
occurrence of any Default, (iv) the validity, enforceability, effectiveness or genuineness of this
Agreement 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 Agent.

     The Agent 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 or sent by the proper Person. The Agent also
may rely upon any statement made to it orally or by telephone and believed by it to be made by the
proper Person, and shall not incur any liability for relying thereon. In determining compliance
with any condition hereunder to the making of a Loan or the issuance of a Letter of Credit, that by
its terms must be fulfilled to the satisfaction of a Lender or the L/C Issuer, the Agent may
presume that such condition is satisfactory to such Lender or the L/C Issuer unless the Agent shall
have received notice to the contrary from such Lender or the L/C Issuer prior to the making of such
Loan or the issuance of such Letter of Credit. The Agent may consult with legal counsel (who may
be counsel for the Borrower or the Guarantor), 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.

     The Agent may perform any and all its duties and exercise its rights and powers by or through
any one or more sub-agents appointed by the Agent. The Agent and any such sub-agent may perform
any and all its duties and exercise its rights and powers through their respective Related Parties.
The exculpatory provisions of this Article shall apply to any such sub-agent and to the Related
Parties of the Agent 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 Agent.

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     The Agent may resign at any time by notifying the Lenders, the L/C Issuer and the Borrower.
Upon any such resignation, the Required Lenders shall have the right, with the consent of the
Borrower (not to be unreasonably withheld or delayed), to appoint a successor. If no successor
shall have been so appointed by the Required Lenders and shall have accepted such appointment
within 30 days after the retiring Agent gives notice of its resignation, then the retiring Agent
may, on behalf of the Lenders and the L/C Issuer, appoint, with the consent of the Borrower (not to
be unreasonably withheld or delayed), a successor Agent which shall be a bank with an office in New
York, New York, or an Affiliate of any such bank; provided that if the 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
Agent shall be discharged from its duties and obligations hereunder and (b) all payments,
communications and determinations provided to be made by, to or through the Agent shall instead be
made by or to each Lender and the L/C Issuer directly until such time as the Required Lenders
appoint, with the consent of the Borrower (not to be unreasonably withheld or delayed), a successor
Agent hereunder. Upon the acceptance of its appointment as Agent hereunder by a successor, such
successor shall succeed to and become vested with all the rights, powers, privileges and duties of
the retiring Agent, and the retiring Agent shall be discharged from its duties and obligations
hereunder. The fees payable by the Borrower to a successor Agent shall be the same as those
payable to its predecessor unless otherwise agreed between the Borrower and such successor. After
the Agent’s resignation hereunder, the provisions of this Article and Section 9.03 shall
continue in effect for the benefit of such retiring 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 it was
acting as Agent.

     Any resignation by Bank of America as Agent pursuant to this Section shall also constitute its
resignation as L/C Issuer and Banc of America Securities Limited’s resignation as Swing Line
Lender. Upon the acceptance of a successor’s appointment as Agent hereunder, (a) such successor
shall succeed to and become vested with all of the rights, powers, privileges and duties of the
retiring L/C Issuer and Swing Line Lender, (b) the retiring L/C Issuer and Swing Line Lender shall
be discharged from all of their respective duties and obligations hereunder or under the other Loan
Documents, and (c) the successor L/C Issuer shall issue letters of credit in substitution for the
Letters of Credit, if any, outstanding at the time of such succession or make other arrangements
satisfactory to the retiring L/C Issuer to effectively assume the obligations of the retiring L/C
Issuer with respect to such Letters of Credit.

     Each Lender and the L/C Issuer acknowledges that it has, independently and without reliance
upon the Agent or any other Lender and based on such documents and information as it has deemed
appropriate, made its own credit analysis and decision to enter into this Agreement. Each Lender
and the L/C Issuer also acknowledges that it will, independently and without reliance upon the
Agent or any other Lender 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 related agreement or any document furnished hereunder or thereunder.

     It is agreed that the Joint Lead Arrangers shall, in their capacities as such, have no duties
or responsibilities under this Agreement.

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ARTICLE IX

MISCELLANEOUS

     Section 9.01. Notices. (a) Except in the case of notices and other communications
expressly permitted to be given by telephone (and subject to paragraph (b) below), all notices and
other communications provided for herein shall be in writing and shall be delivered by hand or
overnight courier service, mailed by certified or registered mail, sent by telecopy or .pdf via
electronic mail, 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, the Guarantor, the Agent or the L/C Issuer or the Swing
Line Lender, to the address, telecopy number, electronic mail address or telephone
number specified for such Person on Schedule 9.01; and

     (ii) if to any other Lender, to it at its address (or telecopy number,
electronic address or telephone number) set forth in its Administrative
Questionnaire (a copy of each of which the Agent shall provide to the Borrower and
the Guarantor).

     (b) Notices and other communications to the Lenders and the L/C Issuer hereunder may be
delivered or furnished by electronic communications pursuant to procedures approved by the
Agent; provided that the foregoing shall not apply to notices pursuant to Article II
unless otherwise agreed by the Agent, the applicable Lender and the L/C Issuer. The 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.

     (c) Any party hereto may change its address or telecopy number for notices and other
communications hereunder by notice to the other parties hereto. All notices and other
communications given to any party hereto in accordance with the provisions of this Agreement
shall be deemed to be effective on the date of receipt.

     Section 9.02. Waivers; Amendments. (a) No failure or delay by the Agent, any Lender
or the L/C Issuer in exercising any right or power hereunder shall operate as a waiver thereof, nor
shall any single or partial exercise of any such right or power, or any abandonment or
discontinuance of steps to enforce such a right or power, preclude any other or further exercise
thereof or the exercise of any other right or power. The rights and remedies of the Agent, the
Lenders and the L/C Issuer hereunder are cumulative and are not exclusive of any rights or remedies
that they would otherwise have. No waiver of any provision of this Agreement or consent to any
departure by the Borrower therefrom shall in any event be effective unless the same shall be
permitted by paragraph (b) of this Section, and then such waiver or consent shall be effective only
in the specific instance and for the purpose for which given. Without limiting the generality of
the foregoing, the making of a Loan shall not be construed as a waiver of any Default, regardless
of whether the Agent, any Lender or the L/C Issuer may have had notice or knowledge of such Default
at the time.

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     (b) Neither this Agreement nor any provision hereof may be waived, amended or modified
except pursuant to an agreement or agreements in writing entered into by each Obligor and
the Required Lenders or by each Obligor and the Agent with the consent of the Required
Lenders; provided that no such agreement shall (i) increase the Commitment of any Lender
without the written consent of such Lender, (ii) reduce the principal amount of any Loan or
L/C Borrowing or reduce the rate of interest thereon, or reduce any fees payable hereunder,
without the written consent of each Lender affected thereby, (iii) postpone the scheduled
date of payment of the principal amount of any Loan, or any interest thereon, or any fees
payable hereunder, or reduce the amount of, waive or excuse any such payment, or postpone
the scheduled date of expiration of any Commitment, without the written consent of each
Lender affected thereby, (iv) change Section 2.17(b) or (c), or any other provision
of this Agreement, in a manner that would alter the pro rata sharing of payments required
thereby, without the written consent of each Lender, or (v) change any of the provisions of
this Section or the definition of “Required Lenders” or any other provision hereof
specifying the number or percentage of Lenders required to waive, amend or modify any rights
hereunder or make any determination or grant any consent hereunder, without the written
consent of each Lender; provided, however that no such agreement shall amend, modify or
otherwise affect the rights or duties of the Agent hereunder without the prior written
consent of the Agent; provided further that no such agreement shall amend, modify or
otherwise affect the obligation under Article X without the prior written consent of
the Guarantor provided further that no amendment, waiver or consent shall, unless in writing
and signed by the L/C Issuer in addition to the Lenders required above, affect the rights or
duties of the L/C Issuer under this Agreement or any Issuer Document relating to any Letter
of Credit issued or to be issued by it; provided further that no amendment, waiver or
consent shall, unless in writing and signed by the Swing Line Lender in addition to the
Lenders required above, affect the rights or duties of the Swing Line Lender under this
Agreement.

Notwithstanding anything to the contrary herein, no Defaulting Lender shall have any right to
approve or disapprove any amendment, waiver or consent hereunder (and any amendment, waiver or
consent which by its terms requires the consent of all Lenders or each affected Lender may be
effected with the consent of the applicable Lenders other than Defaulting Lenders), except that (x)
the Commitment of any Defaulting Lender may not be increased or extended without the consent of
such Lender and (y) any waiver, amendment or modification requiring the consent of all Lenders or
each affected Lender that by its terms affects any Defaulting Lender more adversely than other
affected Lenders shall require the consent of such Defaulting Lender.

     Section 9.03. Expenses; Indemnity; Damage Waiver. (a) The Borrower shall pay (i)
all reasonable out-of-pocket expenses incurred by the Agent and its Affiliates, including the
reasonable fees, charges and disbursements of Bingham McCutchen LLP, counsel for the Agent and
local Luxembourg counsel for the Agent, in connection with the syndication of the credit facilities
provided for herein, the preparation and administration of this Agreement or any amendments,
modifications or waivers of the provisions hereof (whether or not the transactions contemplated
hereby or thereby shall be consummated), (ii) all reasonable out-of-pocket expenses incurred by the
Agent or any Lender, including the reasonable fees, charges and disbursements of any counsel for
the Agent or any Lender, related to the enforcement or

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protection of its rights under this Agreement in connection with any actual or reasonably
anticipated Default and (iii) all reasonable out of pocket expenses incurred by the L/C Issuer in
connection with the issuance, amendment, renewal or extension of any Letter of Credit or any demand
for payment thereunder.

     (b) The Borrower shall indemnify the Agent, each Lender and the L/C Issuer, 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 or asserted against any
Indemnitee arising out of, in connection with, or as a result of (i) the execution or
delivery of this Agreement or any agreement or instrument contemplated hereby, the
performance by the parties hereto of their respective obligations hereunder or the
consummation of the Transactions or any other transactions contemplated hereby, (ii) any
Loan or the use of the proceeds therefrom, (iii) any actual or alleged presence or release
of Hazardous Materials 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 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 have resulted from the gross negligence or
willful misconduct of such Indemnitee.

     (c) To the extent that the Borrower or the Guarantor fails to pay any amount required
to be paid by it to the Agent under paragraph (a) or (b) of this Section, each Lender
severally agrees to pay to the Agent, such Lender’s Applicable Percentage (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
Agent, in its capacity as such.

     (d) To the extent permitted by applicable law, no party hereto shall assert, and each
party hereto hereby waives, any claim against any other party, on any theory of liability,
for special, consequential or punitive damages (as opposed to direct or actual damages)
arising out of, in connection with, or as a result of, this Agreement or any agreement or
instrument contemplated hereby, the Transactions, any Loan or the use of the proceeds
thereof.

     (e) All amounts due under this Section shall be payable promptly after written demand
therefor accompanied by the appropriate invoice or other detail supporting such amounts.

     Section 9.04. Successors and Assigns. (a) The provisions of this Agreement shall be
binding upon and inure to the benefit of the parties hereto and their respective successors and
assigns permitted hereby, except that (i) each Obligor may not assign or otherwise transfer any of
its rights or obligations hereunder without the prior written consent of each Lender (and any

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attempted assignment or transfer by each Obligor without such consent shall be null and void)
and (ii) no Lender may assign or otherwise transfer its rights or obligations hereunder except in
accordance with this Section. Nothing in this Agreement, expressed or implied, shall be construed
to confer upon any Person (other than the parties hereto, their respective successors and assigns
permitted hereby, Participants (to the extent provided in paragraph (c) of this Section) and, to
the extent expressly contemplated hereby, the Related Parties of each of the Agent, the L/C Issuer
and the Lenders) any legal or equitable right, remedy or claim under or by reason of this
Agreement.

     (b) (i) Subject to the conditions set forth in paragraph (b)(ii) below, any Lender may
assign to one or more assignees all or a portion of its rights and obligations under this
Agreement (including all or a portion of its Commitments and the Loans (including for
purposes of this subsection (b), participations in L/C Obligations and Swing Line Loans) at
the time owing to it) with the prior written consent (such consent not to be unreasonably
withheld or delayed) of:

     (A) the Borrower and the Guarantor; provided that no consent of the
Borrower shall be required for an assignment to a Lender, an Affiliate of a
Lender, an Approved Fund (as defined below) or, if an Event of Default has
occurred and is continuing, any other assignee;

     (B) the Agent; provided that no consent of the Agent shall be required
for an assignment to a Lender, an Affiliate of a Lender or an Approved Fund
(as defined below);

     (C) the consent of the L/C Issuer (such consent not to be unreasonably
withheld or delayed) shall be required for any assignment that increases the
obligation of the assignee to participate in exposure under one or more
Letters of Credit (whether or not then outstanding); and

     (D) the consent of the Swing Line Lender (such consent not to be
unreasonably withheld or delayed) shall be required for any assignment.

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

     (A) except in the case of an assignment to a Lender or an Affiliate of
a Lender, the amount of the Commitment 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 Agent) shall
not be less than EUR10,000,000 or, if smaller, the entire remaining amount
of the assigning Lender’s Commitment, unless the Borrower and the Agent
shall otherwise consent, provided that in the event of concurrent
assignments to two or more assignees that are Affiliates of one another, or
to two or more Approved Funds managed by the same investment advisor or by
affiliated investment advisors, all such

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concurrent assignments shall be aggregated in determining compliance
with this subsection;

     (B) each partial assignment shall be made as an assignment of a
proportionate part of all the assigning Lender’s rights and obligations
under this Agreement with respect to the Loans or the Commitments assigned,
except that this clause (B) shall not apply to the Swing Line Lender’s
rights and obligations in respect of Swing Line Loans;

     (C) the parties to each assignment shall execute and deliver to the
Agent an Assignment and Assumption, together with a processing and
recordation fee of EUR2,000; provided that in the event of concurrent
assignments to two or more assignees that are Affiliates of one another, or
to two or more Approved Funds managed by the same investment advisor or by
affiliated investment advisors, only one such fee shall be payable; and

     (D) the assignee, if it shall not be a Lender, shall deliver to the
Agent an Administrative Questionnaire (a copy of which shall promptly be
provided to the Borrower).

     For the purposes of this Section 9.04(b), the term “Approved
Fund” has the following meaning:

     “Approved Fund” means, with respect to any Lender that is a
fund which invests in bank loans and similar extensions of credit, any other
fund that invests in bank loans and similar extensions of credit and is
managed by the same investment advisor as such Lender or by an Affiliate of
such investment advisor.

     (iii) Subject to acceptance and recording thereof pursuant to paragraph (b)(iv)
of this Section, from and after the effective date specified in each Assignment and
Assumption the assignee thereunder shall be a party hereto and, to the extent of the
interest assigned by such Assignment and Assumption, have the rights and obligations
of a Lender under this Agreement, and the assigning Lender thereunder shall, to the
extent of the interest assigned by such Assignment and Assumption, be released from
its obligations under this Agreement (and, in the case of an Assignment and
Assumption covering all of the assigning Lender’s rights and obligations under this
Agreement, such Lender shall cease to be a party hereto but shall continue to be
entitled to the benefits of Sections 2.14, 2.15, 2.16 and
9.03). Any assignment or transfer by a Lender of rights or obligations
under this Agreement that does not comply with this Section 9.04 shall be
treated for purposes of this Agreement as a sale by such Lender of a participation
in such rights and obligations in accordance with paragraph (c) of this Section.

     (iv) The Agent, acting for this purpose as an agent of the Borrower, shall
maintain at one of its offices a copy of each Assignment and Assumption

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delivered to it and a register for the recordation of the names and addresses
of the Lenders, and the Commitments of, and principal amount of the Loans owing to,
each Lender pursuant to the terms hereof from time to time (the “Register”). The
entries in the Register shall be conclusive absent manifest error, and the Borrower,
the Agent and the Lenders may treat each Person whose name is recorded in the
Register pursuant to the terms hereof as a Lender hereunder for all purposes of this
Agreement, notwithstanding notice to the contrary. The Register shall be available
for inspection by the Borrower and any Lender, at any reasonable time and from time
to time upon reasonable prior notice.

     (v) Upon its receipt of a duly completed Assignment and Assumption executed by
an assigning Lender and an assignee, the assignee’s completed Administrative
Questionnaire (unless the assignee shall already be a Lender hereunder), the
processing and recordation fee referred to in paragraph (b) of this Section and any
written consent to such assignment required by paragraph (b) of this Section, the
Agent shall accept such Assignment and Assumption and record the information
contained therein in the Register. No assignment shall be effective for purposes of
this Agreement unless it has been recorded in the Register as provided in this
paragraph.

     (vi) In connection with any assignment of rights and obligations of any
Defaulting Lender hereunder, no such assignment shall be effective unless and until,
in addition to the other conditions thereto set forth herein, the parties to the
assignment shall make such additional payments to the Agent in an aggregate amount
sufficient, upon distribution thereof as appropriate (which may be outright payment,
purchases by the assignee of participations or subparticipations, or other
compensating actions, including funding, with the consent of the Borrower and the
Agent, the applicable pro rata share of Loans previously requested but not funded by
the Defaulting Lender, to each of which the applicable assignee and assignor hereby
irrevocably consent), to (x) pay and satisfy in full all payment liabilities then
owed by such Defaulting Lender to the Agent or any Lender hereunder (and interest
accrued thereon) and (y) acquire (and fund as appropriate) its full pro rata share
of all Loans and participations in Letters of Credit and Swing Line Loans in
accordance with its Applicable Percentage. Notwithstanding the foregoing, in the
event that any assignment of rights and obligations of any Defaulting Lender
hereunder shall become effective under applicable Law without compliance with the
provisions of this paragraph, then the assignee of such interest shall be deemed to
be a Defaulting Lender for all purposes of this Agreement until such compliance
occurs.

     (c) (i) Any Lender may, without notice to or the consent of the Obligors or the Agent,
sell participations to one or more banks or other entities (a “Participant”) in all or a
portion of such Lender’s rights and obligations under this Agreement (including all or a
portion of its Commitment and the Loans (including such Lender’s participations in L/C
Obligations and/or Swing Line Loans owing to it); provided that (A) such Lender’s
obligations under this Agreement shall remain unchanged, (B) such Lender shall remain solely
responsible to the other parties hereto for the performance of such

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obligations and (C) the Borrower, the Guarantor, the Agent, the L/C Issuer 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,
modification or waiver described in the first proviso to Section 9.02(b) that
affects such Participant. Subject to paragraph (c)(ii) of this Section, the Borrower agrees
that each Participant shall be entitled to the benefits of Sections 2.14,
2.15 and 2.16 to the same extent as if it were a Lender and had acquired its
interest by assignment pursuant to paragraph (b) of this Section. To the extent permitted
by law, each Participant also shall be entitled to the benefits of Section 9.08 as
though it were a Lender, provided such Participant agrees to be subject to Section
2.14(f) as though it were a Lender.

     (ii) A Participant shall not be entitled to receive any greater payment under
Section 2.14, 2.15 or 2.16 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 2.16
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
2.16(f) as though it were a Lender.

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

     (e) By executing and delivering an Assignment and Assumption, the assigning Lender
thereunder and the assignee thereunder shall be deemed to confirm to and agree with each
other and the other parties hereto as follows: (i) such assigning Lender warrants that it is
the legal and beneficial owner of the interest being assigned thereby free and clear of any
adverse claim and that its Commitments and the outstanding balances of its Loans, in each
case without giving effect to assignments thereof that have not become effective, are as set
forth in such Assignment and Assumption; (ii) except as set forth in clause (i) above, such
assigning Lender makes no representation or warranty and assumes no responsibility with
respect to any statements, warranties or representations made in or in connection with this
Agreement or any other Loan Document or any other instrument or document furnished pursuant
hereto or thereto, or the execution, legality, validity, enforceability, genuineness,
sufficiency or value of any

69

 

of the foregoing, or the financial condition of the Obligors or the performance or
observance by the Obligors of any of their obligations under this Agreement or under any
other Loan Document or any other instrument or document furnished pursuant hereto or
thereto; (iii) each of the assignee and the assignor represents and warrants that it is
legally authorized to enter into such Assignment and Assumption; (iv) such assignee confirms
that it has received a copy of this Agreement, together with copies of any amendments or
consents entered into prior to the date of such Assignment and Assumption and copies of the
most recent financial statements delivered pursuant to Section 5.01 and such other
documents and information as it has deemed appropriate to make its own credit analysis and
decision to enter into such Assignment and Assumption; (v) such assignee will independently
and without reliance upon the Agent, such assigning Lender or any other Lender and based on
such documents and information as it shall deem appropriate at the time, continue to make
its own credit decisions in taking or not taking action under this Agreement; (vi) such
assignee appoints and authorizes the Agent to take such action as an agent on its behalf and
to exercise such powers under this Agreement and the other Loan Documents as are delegated
to it by the terms hereof and thereof, together with such powers as are reasonably
incidental thereto; and (vii) such assignee agrees that it will perform in accordance with
their terms all the obligations that by the terms of this Agreement are required to be
performed by it as a Lender.

     (f) Notwithstanding anything to the contrary contained herein, if at any time Banc of
America Securities Limited assigns all of its Revolving Commitment and Revolving Loans
pursuant to subsection (b) above, (i) Bank of America may, upon 30 days’ notice to the
Borrower and the Lenders, resign as L/C Issuer and (ii) Banc of America Securities Limited
may, upon 30 days’ notice to the Borrower, resign as Swing Line Lender. In the event of any
such resignation as L/C Issuer or Swing Line Lender, the Borrower shall be entitled to
appoint from among the Lenders a successor L/C Issuer or Swing Line Lender hereunder;
provided, however, that no failure by the Borrower to appoint any such successor shall
affect the resignation of Bank of America as L/C Issuer or Swing Line Lender, as the case
may be. If Bank of America resigns as L/C Issuer, it shall retain all the rights, powers,
privileges and duties of the L/C Issuer hereunder with respect to all Letters of Credit
outstanding as of the effective date of its resignation as L/C Issuer and all L/C
Obligations with respect thereto (including the right to require the Lenders to make Loans
or fund risk participations in Unreimbursed Amounts pursuant to Section 2.05(c)).
If Banc of America Securities Limited resigns as Swing Line Lender, it shall retain all the
rights of the Swing Line Lender provided for hereunder with respect to Swing Line Loans made
by it and outstanding as of the effective date of such resignation, including the right to
require the Lenders to make Revolving Loans or fund risk participations in outstanding Swing
Line Loans pursuant to Section 2.06(c). Upon the appointment of a successor L/C
Issuer and/or Swing Line Lender, (a) such successor shall succeed to and become vested with
all of the rights, powers, privileges and duties of the retiring L/C Issuer or Swing Line
Lender, as the case may be, and (b) the successor L/C Issuer shall issue letters of credit
in substitution for the Letters of Credit, if any, outstanding at the time of such
succession or make other arrangements satisfactory to Bank of America to effectively assume
the obligations of Bank of America with respect to such Letters of Credit.

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     Section 9.05. Survival. All covenants, agreements, representations and
warranties made by each Obligor herein and in the certificates or other instruments delivered in
connection with or pursuant to this Agreement shall be considered to have been relied upon by the
other parties hereto and shall survive the execution and delivery of this Agreement and the making
of any Loans, regardless of any investigation made by any such other party or on its behalf and
notwithstanding that the Agent or any Lender may have had notice or knowledge of any Default or
incorrect representation or warranty at the time any credit is extended hereunder, and shall
continue in full force and effect as long as the principal of or any accrued interest on any Loan
or any fee or any other amount payable under this Agreement is outstanding and unpaid, any Letter
of Credit shall remain outstanding and so long as the Commitments have not expired or terminated.
The provisions of Sections 2.14, 2.15, 2.16 and 9.03 and
Article VIII shall survive and remain in full force and effect regardless of the
consummation of the transactions contemplated hereby, the repayment of the Loans, the expiration or
termination of the Commitments or the termination of this Agreement or any provision hereof.

     Section 9.06. Counterparts; Integration; Effectiveness. This Agreement may be
executed in counterparts (and by different parties hereto on different counterparts), each of which
shall constitute an original, but all of which when taken together shall constitute a single
contract. This Agreement and any separate letter agreements with respect to fees payable to the
Agent constitute the entire contract among the parties relating to the subject matter hereof and
supersede any and all previous agreements and understandings, oral or written, relating to the
subject matter hereof. Except as provided in Section 4.01, this Agreement shall become
effective when it shall have been executed by the Agent and when the Agent shall have received
counterparts hereof which, when taken together, bear the signatures of each of the other parties
hereto, and thereafter shall be binding upon and inure to the benefit of the parties hereto and
their respective successors and assigns. Delivery of an executed counterpart of a signature page
of this Agreement by telecopy or .pdf via electronic mail shall be effective as delivery of a
manually executed counterpart of this Agreement.

     Section 9.07. Severability. Any provision of this Agreement held to be invalid,
illegal or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the
extent of such invalidity, illegality or unenforceability without affecting the validity, legality
and enforceability of the remaining provisions hereof; and the invalidity of a particular provision
in a particular jurisdiction shall not invalidate such provision in any other jurisdiction.

     Section 9.08. Right of Setoff. If an Event of Default shall have occurred and be
continuing, each Lender, the L/C Issuer and each of its Affiliates is hereby authorized at any time
and from time to time, to the fullest extent permitted by law, to set off and apply any and all
deposits (general or special, time or demand, provisional or final) at any time held and other
obligations at any time owing by such Lender, the L/C Issuer or Affiliate to or for the credit or
the account of each Obligor against any of and all the obligations of each Obligor now or hereafter
existing under this Agreement to such Lender or the L/C Issuer, irrespective of whether or not such
Lender or the L/C Issuer shall have made any demand under this Agreement and although such
obligations may be unmatured; provided, that in the event that any Defaulting Lender shall exercise
any such right of setoff, (x) all amounts so set off shall be paid over immediately to the Agent
for further application in accordance with the provisions of Section 2.19 and, pending such
payment, shall be segregated by such Defaulting Lender from its other

71

 

funds and deemed held in trust for the benefit of the Agent and the Lenders, and (y) the
Defaulting Lender shall provide promptly to the Agent a statement describing in reasonable detail
the Obligations owing to such Defaulting Lender as to which it exercised such right of setoff. The
rights of each Lender, the L/C Issuer and their respective Affiliates under this Section are in
addition to other rights and remedies (including other rights of setoff) which such Lender, the L/C
Issuer and their respective Affiliates may have. Any Lender, the L/C Issuer or any of their
Affiliates exercising any of its rights pursuant to this Section shall provide notice of the same
to the Obligors promptly after exercising the same; provided, however, the failure to give such
notice shall not affect the validity of such setoff.

     Section 9.09. Governing Law; Jurisdiction; Consent to Service of Process. (a) This
Agreement shall be construed in accordance with and governed by the law of the State of New York.

     (a) Each Obligor hereby irrevocably and unconditionally submits, for itself and its
property, to the nonexclusive jurisdiction of the Supreme Court of the State of New York
sitting in New York County and of the United States District Court of the Southern District
of New York, and any appellate court from any thereof, in any action or proceeding arising
out of or relating to this Agreement, or for recognition or enforcement of any judgment, and
each of the parties hereto hereby irrevocably and unconditionally agrees that all claims in
respect of any such action or proceeding may be heard and determined in such New York State
or, to the extent permitted by law, in such Federal court. Each 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 shall affect any right that the Agent, any Lender or the L/C
Issuer may otherwise have to bring any action or proceeding relating to this Agreement
against the Borrower or its properties in the courts of any jurisdiction.

     (b) Each Obligor hereby irrevocably and unconditionally waives, to the fullest extent
it may legally and effectively do so, any objection which it may now or hereafter have to
the laying of venue of any suit, action or proceeding arising out of or relating to this
Agreement in any court referred to in paragraph (b) of this Section. Each of the parties
hereto hereby irrevocably waives, to the fullest extent permitted by law, the defense of an
inconvenient forum to the maintenance of such action or proceeding in any such court.

     (c) Each party to this Agreement irrevocably consents to service of process in the
manner provided for notices in Section 9.01. Nothing in this Agreement will affect
the right of any party to this Agreement to serve process in any other manner permitted by
law.

     Section 9.10. WAIVER OF JURY TRIAL. EACH PARTY HERETO HEREBY 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 THE TRANSACTIONS
CONTEMPLATED HEREBY (WHETHER BASED ON CONTRACT,

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TORT OR ANY OTHER THEORY). EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR
ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY 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 BY, AMONG OTHER THINGS,
THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION.

     Section 9.11. Headings. Article and Section headings and the Table of Contents used
herein are for convenience of reference only, are not part of this Agreement and shall not affect
the construction of, or be taken into consideration in interpreting, this Agreement.

     Section 9.12. Confidentiality. Each of the Agent and the Lenders agrees to maintain
the confidentiality of the Information (as defined below), except that Information may be disclosed
(a) to its and its Affiliates’ directors, officers, employees and agents, including accountants,
legal counsel and other advisors (it being understood that the Persons to whom such disclosure is
made will be informed of the confidential nature of such Information and instructed to keep such
Information confidential) on a “need to know” basis solely in connection with the Transactions, (b)
to the extent requested by any regulatory authority, (c) to the extent required by applicable laws
or regulations or by any subpoena or similar legal process, provided, however, that, to the extent
legally permitted, the Obligors promptly notified in order that they may seek a protective order or
take other appropriate action, (d) to any other party to this Agreement, (e) to the extent
reasonably required or reasonably deemed advisable in connection with the exercise of any remedies
hereunder or any suit, action or proceeding relating to this Agreement or the enforcement of rights
hereunder, (f) subject to an 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 counterparty (or its advisors) to any swap or derivative transaction relating to the
Borrower and its obligations, (g) with the consent of the Obligors or (h) to the extent such
Information (i) becomes publicly available other than as a result of a breach of this Section or
(ii) becomes available to the Agent or any Lender on a nonconfidential basis from a source other
than any Obligor. For the purposes of this Section, “Information” means all information received
from any Obligor relating to any Obligor or their business, other than any such information that is
available to the Agent or any Lender on a nonconfidential basis prior to disclosure by such
Obligor; provided that, in the case of information received from an Obligor after the date hereof,
such information is clearly identified as confidential at the time of delivery or delivered under
circumstances that would cause a reasonable person to believe such information to be 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.

     Section 9.13. Interest Rate Limitation. Notwithstanding anything herein to the
contrary, if at any time the interest rate applicable to any Loan, together with all fees, charges
and other amounts which are treated as interest on such Loan under applicable law (collectively the
“Charges”), shall exceed the maximum lawful rate (the “Maximum Rate”) which
may be contracted for, charged, taken, received or reserved by the Lender holding such Loan in

73

 

accordance with applicable law, the rate of interest payable in respect of such Loan
hereunder, together with all Charges payable in respect thereof, shall be limited to the Maximum
Rate and, to the extent lawful, the interest and Charges that would have been payable in respect of
such Loan but were not payable as a result of the operation of this Section shall be cumulated and
the interest and Charges payable to such Lender in respect of other Loans or periods shall be
increased (but not above the Maximum Rate therefor) until such cumulated amount, together with
interest thereon at a rate reasonably determined by the Agent to be a market rate to the date of
repayment, shall have been received by such Lender.

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

     Section 9.15. [Intentionally Omitted.]

     Section 9.16. No Advisory or Fiduciary Relationship. In connection with all aspects
of each transaction contemplated hereby (including in connection with any amendment, waiver or
other modification hereof or of any other Loan Document), each Obligor acknowledges and agrees
that: (a)(i) the arranging and other services regarding this Agreement provided by the Agent and
the Joint Lead Arrangers, are arm’s-length commercial transactions between the Obligors, on the one
hand, and the Agent and the Joint Lead Arrangers, on the other hand, (ii) each Obligor has
consulted its own legal, accounting, regulatory and tax advisors to the extent it has deemed
appropriate, and (iii) each Obligor is capable of evaluating, and understands and accepts, the
terms, risks and conditions of the transactions contemplated hereby and by the other Loan
Documents; (b)(i) the Agent and the Joint Lead Arrangers are and have been acting solely as
principals and, except as expressly agreed in writing by the relevant parties, have not been, are
not and will not be acting as advisors, agents or fiduciaries, for the Borrower and (ii) neither
the Agent nor any Joint Lead Arranger has any obligation to the Borrower with respect to the
transactions contemplated hereby except those obligations expressly set forth herein and in the
other Loan Documents; and (c) the Agent and the Joint Lead Arrangers and their respective
Affiliates may be engaged in a broad range of transactions that involve interests that differ from
those of the Obligors, and neither the Agent nor any Joint Lead Arranger has any obligation to
disclose any of such interests to the Obligors. To the fullest extent permitted by law, each
Obligor hereby waives and releases, any claims that it may have against the Agent or any Joint Lead
Arranger with respect to any breach or alleged breach of agency or fiduciary duty in connection
with any aspect of any transaction contemplated hereby.

     Section 9.17. Judgment Currency. This is an international transaction in which the
specification of Euros and payment in New York City is of the essence, and the obligations of the
Borrower under this Agreement to make payment to or for account of the Lenders in Euros shall not
be discharged or satisfied by any tender or recovery pursuant to any judgment expressed in or
converted into any other currency or in another place except to the extent that such tender or
recovery results in the effective receipt by such Lender in New York City of the full amount of
Euros payable to such Lender under this Agreement.

74

 

If for the purpose of obtaining judgment in any court it is necessary to convert a sum due
hereunder in Euros into another currency (in this Section called the “judgment currency”),
the rate of exchange that shall be applied shall be that at which in accordance with normal banking
procedures the Agent could purchase such Euros at the principal office of the Agent in New York
City with the judgment currency on the Business Day next preceding the day on which such judgment
is rendered. The obligation of the Borrower in respect of any such sum due from it to the Agent or
any Lender hereunder (in this Section called an “Entitled Person”) shall, notwithstanding
the rate of exchange actually applied in rendering such judgment, be discharged only to the extent
that on the Business Day following receipt by such Entitled Person of any such adjudged to be due
hereunder in the judgment currency such Entitled Person may in accordance with normal banking
procedures purchase and transfer Euros to New York City with the amount of the judgment currency so
adjudged to be due; and the Borrower hereby, as a separate obligation and notwithstanding any such
judgment, agrees to indemnify such Entitled Person again, and to pay such Entitled Person on
demand, in Euros, the amount (if any) by which the sum originally due to such Entitled Person in
Euros hereunder exceed the amount of the Euros so purchased and transferred.

     Section 9.18. Payments Set Aside. To the extent that any payment by or on behalf of
the Borrower is made to the Agent, the L/C Issuer or any Lender, or the Agent, the L/C Issuer 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 Agent, the L/C Issuer 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) each Lender and the L/C Issuer severally agrees to pay to the Agent upon demand
its applicable share (without duplication) of any amount so recovered from or repaid by the 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 Lenders
and the L/C Issuer under clause (b) of the preceding sentence shall survive the payment in full of
the Obligations and the termination of this Agreement.

ARTICLE X

GUARANTY

     Section 10.01. Guaranty. The Guarantor hereby absolutely, irrevocably and
unconditionally guarantees to the Agent and each of the Lenders the full and prompt payment when
due (whether upon maturity, by acceleration or otherwise) of all Indebtedness of the Borrower and
its Subsidiaries hereunder to the Agent and each of the Lenders in any form, including any and all
credit extended and any other obligations owing by the Borrower and its Subsidiaries to the Lenders
(including Letters of Credit issued for the account of the Borrower and its Subsidiaries) in
connection with the Loans at any time outstanding during the term of this Agreement, plus interest,
fees, reimbursement obligations, indemnity obligations or other

75

 

amounts owed by the Borrower and its Subsidiaries to the Agent and the Lenders hereunder
(collectively, the “Guaranteed Obligations”), in each case strictly in accordance with the
terms hereof.

     Section 10.02. Guaranty Absolute. The Guarantor guarantees that the Guaranteed
Obligations will be paid strictly in accordance with the terms of the Loan Documents, regardless of
any law, regulation or order now or hereafter in effect in any jurisdiction affecting any of such
terms or the rights of the Agent or the Lenders with respect thereto. The obligation of the
Guarantor hereunder shall be to make prompt payment to the Agent, for the benefit of the Lenders,
irrespective of any inability to convert any currency into the currency of payment of such
Guaranteed Obligations, irrespective of any inability to transfer funds in the currency of payment
of such Guaranteed Obligations to the place of payment therefor, it being the intent of this
paragraph that the Guaranteed Obligations shall be absolute and unconditional under any and all
circumstances. This is a Guarantee of payment and not of collection and is intended to be and
shall be construed as a continuing guarantee. The liability of the Guarantor under this
Article X constitutes a primary obligation, and not a contract of surety, and shall be
irrevocable, absolute and unconditional irrespective of, and the Guarantor hereby irrevocably
waives any defenses it may now or hereafter have in any way relating to, any or all of the
following:

     (a) notice of the state of indebtedness of the Borrower under the Loans or the release,
substitution or variation of any collateral or other guarantee which may at any time be held
as security for any Loans all without relieving the Guarantor of any liability under this
Agreement,

     (b) promptness, diligence, notice of acceptance of this Agreement and of any extension
of any loan or other financial accommodation by the Lenders to the Borrower,

     (c) presentment and demand for payment of any of the Guaranteed Obligations,

     (d) protest and notice of dishonor or default to the Guarantor or to any other party
with respect to any of the Obligations,

     (e) all other notices to which the Guarantor might otherwise be entitled except as
specifically herein provided,

     (f) any illegality, lack of validity or enforceability of any Guaranteed Obligation,
and

     (g) any other circumstance (including, without limitation, any statue of limitations)
that might otherwise constitute a defense available to, or a legal or equitable discharge of
the Borrower or the Guarantor or any other guarantor or surety.

This Article X shall continue to be effective or be reinstated, as the case may be, if at
any time any payment of the Guaranteed Obligations is rescinded or must otherwise be returned by
the Agent or the Lenders or any other person upon the insolvency, bankruptcy or reorganization of
the Borrower or otherwise, all as though such payment had not been made.

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     Section 10.03. Payment of Guaranteed Obligations. In the event any indebtedness of
the Borrower under this Agreement is not paid when due, the Guarantor will pay to the Lenders the
entire amount of the Borrower’s liability due hereunder (including interest charges to the date of
payment) on demand and the Lenders need not first proceed to preserve, utilize or exhaust any other
right or remedy against the Borrower or any security the Lenders or the Agent may have to obtain
payment. Such payment shall be made to the Agent at the place and in the currency where and in
which the indebtedness was incurred.

Except as set forth in Section 9.02 hereof, the Guarantor authorizes the Lenders, without
notice to or demand on the Guarantor and without affecting the Guarantor’s liability hereunder,
from time to time to renew, extend, accelerate, compromise, settle, restructure, refinance, refund
or otherwise change the amount and time for payment of the Guaranteed Obligations, or otherwise
change the terms of the Guaranteed Obligations or any part thereof, by agreement with the Borrower.

     Section 10.04. Waiver. Notwithstanding any other provision of this Agreement, until
payment in full of the Guaranteed Obligations (a) the Guarantor hereby irrevocably waives any right
to assert, enforce, or otherwise exercise any right of subrogation of any of the rights, security
interests, claims, or liens that the Lenders or the Agent have against the Borrower in respect of
the Guaranteed Obligations, (ii) the Guarantor shall have no right of recourse, reimbursement,
contribution, indemnification, or similar right that the Guarantor may have (by contract or
otherwise) against the Borrower in respect of the Guaranteed Obligations, and (iii) the Guarantor
hereby irrevocably waives any and all of the foregoing rights and also irrevocably waives the
benefit of, and any right to participate in, any collateral or other security given to the Lenders
or the Agent to secure the payment of such Guaranteed Obligations.

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

	 	 	 	 	 
	 	SHERWIN-WILLIAMS LUXEMBOURG S.à r.l., as Borrower

 	 
	 	By:  	/s/
 	 
	 	 	Name:  	Cynthia D. Brogan 	 
	 	 	Title:  	Attorney-in-Fact 	 
	 

	 	 	 	 	 
	 	THE SHERWIN-WILLIAMS COMPANY, as Guarantor

 	 
	 	By:  	/s/
 	 
	 	 	Name:  	Sean P. Hennessy 	 
	 	 	Title:  	Senior Vice President-Finance and Chief
Financial Officer 	 

 

 

	 	 	 	 	 

	 	 	 	 	 
	AGENT: 	BANK OF AMERICA, N.A.

 	 
	 	By:  	/s/
 	 
	 	 	Name:  	Ronaldo Naval 	 
	 	 	Title:  	Vice President 	 
	 
	L/C ISSUER: 	BANK OF AMERICA, N.A.

 	 
	 	By:  	/s/
 	 
	 	 	Name:  	Irene Bertozzi Bartenstein 	 
	 	 	Title:  	Senior Vice President 	 
	 
	SWING LINE LENDER: 	BANC OF AMERICA SECURITIES LIMITED

 	 
	 	By:  	/s/
 	 
	 	 	Name:  	Dilys M. Robertson 	 
	 	 	Title:  	Senior Vice President 	 
	 
	LENDERS: 	BANC OF AMERICA SECURITIES LIMITED

 	 
	 	By:  	/s/
 	 
	 	 	Name:  	Dilys M. Robertson 	 
	 	 	Title:  	Senior Vice President 	 

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	HSBC BANK USA, NATIONAL ASSOCIATION

 	 
	 	By:  	
/s/
 	 
	 	 	Name:  	David A. Mandell 	 
	 	 	Title:  	Managing Director 	 

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	J.P. MORGAN EUROPE LIMITED

 	 
	 	By:  	/s/
 	 
	 	 	Name:  	Rabih Yazbek 	 
	 	 	Title:  	Vice President 	 

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	INTESA SANPAOLO S.p.A.

New York Branch

 	 
	 	By:  	/s/
 	 
	 	 	Name:  	Sergio Maggioni 	 
	 	 	Title:  	First Vice President and Head of Business 	 
	 
	 	 	 
	 	By:  	             /s/
 	 
	 	 	Name:  	Francesco DiMario 	 
	 	 	Title:  	First Vice President and Credit Manager 	 

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	BANCO SANTANDER, S.A.

 	 
	 	By:  	/s/
 	 
	 	 	Name:  	Pablo Urgoiti 	 
	 	 	Title:  	Managing Director 	 
	 
	 	 	 
	 	By:  	                        /s/
 	 
	 	 	Name:  	Javier Visedo 	 
	 	 	Title:  	Executive Director 	 

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	CITIBANK, N.A., LONDON BRANCH

 	 
	 	By:  	/s/
 	 
	 	 	Name:  	Caryn Bell 	 
	 	 	Title:  	Vice President 	 

 

 

	 	 	 	 	 

SCHEDULE 2.01

Commitments

	 	 	 	 	 	 	 	 	 	 	 
	 	 	Revolving Loan	 	 	 	 	 	Applicable
	Lenders	 	Commitment	 	Term Loan Commitment	 	Total Commitment	 	Percentage
	Banc of America
Securities Limited

	 	€9,000,000
	 	€27,000,000
	 	€36,000,000
	 	 	18	%
	HSBC Bank USA, National
Association

	 	€9,000,000
	 	€27,000,000
	 	€36,000,000
	 	 	18	%
	J.P. Morgan Europe Limited

	 	€8,000,000
	 	€24,000,000
	 	€32,000,000
	 	 	16	%
	Intesa Sanpaolo S.p.A

	 	€8,000,000
	 	€24,000,000
	 	€32,000,000
	 	 	16	%
	Banco Santander, S.A.

	 	€8,000,000
	 	€24,000,000
	 	€32,000,000
	 	 	16	%
	Citibank, N.A., London
Branch

	 	€8,000,000
	 	€24,000,000
	 	€32,000,000
	 	 	16	%
	 
	 	 	 	 	 	 	 	 	 	 
	Total

	 	€50,000,000
	 	€150,000,000
	 	€200,000,000
	 	 	100	%

 

 

SCHEDULE 9.01

	 	 	 

	 	 	Notices
	 
	Borrower:

	 	SHERWIN-WILLIAMS LUXEMBOURG S.À R.L.
	 

	 	13-15, Avenue de la Liberté L-1931 Luxembourg
	 

	 	Attention: the board of managers
	 

	 	Fax: + 352 2689 0169
	 

	 	Phone: +352 268 901
	 
	 	 
	 

	 	with copies to:
	 

	 	THE SHERWIN-WILLIAMS COMPANY
	 

	 	101 West Prospect Avenue
	 

	 	Cleveland, Ohio 44115-1075
	 

	 	Attention: Vice President and Treasurer
	 
	 	 
	 

	 	and to:
	 

	 	THE SHERWIN-WILLIAMS COMPANY
	 

	 	101 West Prospect Avenue
	 

	 	Cleveland, Ohio 44115-1075
	 

	 	Attention: General Counsel
	 

	 	Fax: 216-566-1708
	 
	 

	 	and to:
	 

	 	Jones Day
	 

	 	Citigroup Center
	 

	 	222 E. 41st Street
	 

	 	New York, New York 10017
	 

	 	Attn: Brett Barragate
	 

	 	Phone: 212-326-3446
	 

	 	Fax: 212-755-7306
	 
	 	 
	Guarantor:

	 	THE SHERWIN-WILLIAMS COMPANY
	 

	 	101 West Prospect Avenue
	 

	 	Cleveland, Ohio 44115-1075
	 

	 	Attention: Vice President and Treasurer
	 
	 	 
	 

	 	with copies to:
	 

	 	THE SHERWIN-WILLIAMS COMPANY
	 

	 	101 West Prospect Avenue
	 

	 	Cleveland, Ohio 44115-1075
	 

	 	Attention: General Counsel
	 

	 	Fax: 216-566-1708
	 
	 	 
	 

	 	and to:
	 

	 	Jones Day
	 

	 	Citigroup Center
	 

	 	222 E. 41st Street
	 

	 	New York, New York 10017

 

 

	 	 	 

	 

	 	Attn: Brett Barragate
	 

	 	Phone: 212-326-3446
	 

	 	Fax: 212-755-7306
	 
	 	 
	Agent:

	 	(for payments and requests)
	 

	 	Bank of America, N.A.
	 

	 	Mail Code: NC1-001-04-39
	 

	 	Charlotte, North Carolina 28255
	 

	 	Attn: Nilesh Patel
	 

	 	Phone: 980-386-5094
	 

	 	Fax: 704-719-8870
	 

	 	E-mail: npatel@baml.com
	 
	 	 
	 

	 	Wiring instructions:
	 

	 	Bank of America, London
	 

	 	Swift: BOFAGB22
	 

	 	Acct #: 65280019
	 

	 	Account Name: Credit Services
	 

	 	IBAN#: GB80BOFA16505065280019
	 

	 	Attention: Grand Cayman Unit #1207
	 

	 	Ref: Sherwin-Williams
	 
	 	 
	 

	 	Other Notices to Administrative Agent:
	 

	 	Bank of America, N.A.
	 

	 	Agency Management
	 

	 	901 Main Street, 14th Floor
	 

	 	Mail Code: TX1-492-14-11
	 

	 	Dallas, Texas 75202-3714
	 

	 	Attn: Ronaldo Naval
	 

	 	Phone: 214-209-1162
	 

	 	Fax: 877-511-6124
	 

	 	E-Mail: ronaldo.naval@baml.com
	 
	 	 
	 

	 	With copies to:
	 

	 	Bank of America, N.A.
	 

	 	100 Federal Street
	 

	 	Mail Code: MA5-100-09-03
	 

	 	Boston, Massachusetts 02110
	 

	 	Attn: Irene Bartenstein
	 

	 	Phone: 617-434-2903
	 

	 	Fax: 617-434-0601
	 

	 	E-Mail: irene.bertozzi.bartenstein@baml.com
	 
	 	 
	 

	 	and to:
	 

	 	Bingham McCutchen LLP
	 

	 	One Federal Street
	 

	 	Boston, MA 02110
	 

	 	Attn:      Amy Kyle
	 

	 	Phone:   617-951-8288
	 

	 	Fax:       617-345-5001

 

 

Exhibit A

FORM OF ASSIGNMENT AND ASSUMPTION

     Reference is made to the Credit Agreement dated as of July 19, 2010 (as from time to time
amended, modified or supplemented, the “Credit Agreement”), among SHERWIN-WILLIAMS
LUXEMBOURG S.À R.L., a Luxembourg limited liability company organized under the laws of Luxembourg
with registered office at 13-15 avenue de la liberté L -1931 Luxembourg and with a share capital of
EUR 1,055,000 (the “Borrower”), THE SHERWIN-WILLIAMS COMPANY, an Ohio corporation (the
“Guarantor”, and together with the Borrower, the “Obligors”), the Lenders from time
to time party thereto, BANK OF AMERICA, N.A., as Administrative Agent (in such capacity, the
“Agent”) and as L/C Issuer, BANC OF AMERICA SECURITIES LLC, as Sole Bookrunner and Joint
Mandated Lead Arranger, and HSBC SECURITIES (USA) INC., as Joint Mandated Lead Arranger.

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

     2. The Assignor hereby irrevocably sells and assigns to the Assignee, and the Assignee hereby
irrevocably purchases and assumes from the Assignor, subject to and in accordance with the Standard
Terms and Conditions and the Credit Agreement, as of the Effective Date inserted by the Agent as
contemplated below (i) all of the Assignor’s rights and obligations as a Lender under the Credit
Agreement and any other documents or instruments delivered pursuant thereto to the extent related
to the amount and percentage interest identified below of all of such outstanding rights and
obligations of the Assignor identified below and (ii) to the extent permitted to be assigned under
applicable law, all claims, suits, causes of action and any other right of the Assignor (in its
capacity as a Lender) against any Person, whether known or unknown, arising under or in connection
with the Credit Agreement, any other documents or instruments delivered pursuant thereto or the
loan transactions governed thereby or in any way based on or related to any of the foregoing,
including, but not limited to, contract claims, tort claims, malpractice claims, statutory claims
and all other claims at law or in equity related to the rights and obligations sold and assigned by
the Assignor to the Assignee pursuant to clause (i) above (the rights and obligations sold and
assigned pursuant to clauses (i) and (ii) above being referred to herein collectively as, the
“Assigned Interest”). Such sale and assignment is without recourse to the Assignor and,
except as expressly provided in this Assignment and Assumption, without representation or warranty
by the Assignor.

     3. The [Assignee/Assignor] shall pay the fee payable to the Agent pursuant to Section 9.04(b)
of the Credit Agreement.

     4. This Assignment and Assumption may be executed in two or more counterparts, each of which
shall constitute an original, but all of which when taken together shall constitute

 

 

but one contract. Delivery of an executed counterpart of a signature page of this Assignment and
Assumption by facsimile transmission shall be as effective as delivery of a manually executed
counterpart of this Assignment and Assumption.

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

Legal Name of Assignor:

Legal Name of Assignee:

Assignee’s Address for Notices:

Effective Date:

Assigned Interest:

	 	 	 	 	 	 	 
	 	 	Aggregate	 	 	 	Percentage
	 	 	Amount of	 	Principal Amount of	 	Assigned of
	Facility	 	Commitments/Loans	 	Commitments/Loans	 	Commitment/
	Assigned1	 	for all Lenders	 	Assigned	 	Loans2
	                                        

	 	€                                        
	 	€                                        
	 	                                        %

The terms set forth above are hereby agreed to:

	 	 	 	 	 
	 	                                        , as Assignor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

	 	 	 	 	 
	 	                                        , as Assignee

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

 

			
	1	 	Fill in the appropriate terminology for the types
of facilities under the Credit Agreement that are being assigned under this
Assignment (e.g. “Revolving Credit Commitment”, “Term Loan Commitment”, etc.).
	 
	2	 	Set forth, to at least 8 decimals, as a percentage
of the facility and the aggregate Commitments of all Lenders thereunder.

 

 

The undersigned hereby consent
to the above assignment3

	 	 	 	 	 
	SHERWIN-WILLIAMS LUXEMBOURG S.À R.L.,

as Borrower

 	 
	By:  	 	 
	 	Name:  	 	 
	 	Title 	 
	 
	THE SHERWIN-WILLIAMS COMPANY,

as Guarantor

 	 
	By:  	 	 
	 	Name:  	 	 
	 	Title 	 
	 
	BANK OF AMERICA, N.A., as

Administrative Agent and L/C Issuer

 	 
	By:  	 	 
	 	Name:  	 	 
	 	Title:  	 	 
	 
	BANC OF AMERICA SECURITIES LIMITED, as

Swing Line Lender

 	 
	By:  	 	 
	 	Name:  	 	 
	 	Title:  	 	 
	 

 

			
	3	 	To be completed to the extent consents are
required under Section 9.04(b) of the Credit Agreement.

 

 

Annex 1 to Assignment and Assumption

STANDARD TERMS AND CONDITIONS

1. Representations and Warranties.

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

     1.2. Assignee. The Assignee (a) represents and warrants that (i) it has full power
and authority, and has taken all action necessary, to execute and deliver this Assignment and
Assumption and to consummate the transactions contemplated hereby and to become a Lender under the
Credit Agreement, (ii) from and after the Effective Date, it shall be bound by the provisions of
the Credit Agreement as a Lender thereunder and, to the extent of the Assigned Interest, shall have
the obligations of a Lender thereunder, (iii) it is sophisticated with respect to decisions to
acquire assets of the type represented by the Assigned Interest and either it, or the Person
exercising discretion in making its decision to acquire the Assigned Interest, is experienced in
acquiring assets of such type, (iv) it has received a copy of the Credit Agreement, and has
received or has been accorded the opportunity to receive copies of the most recent financial
statements delivered pursuant to Section 5.01 thereof, as applicable, and such other documents and
information as it deems appropriate to make its own credit analysis and decision to enter into this
Assignment and Assumption and to purchase the Assigned Interest, (v) it has, independently and
without reliance upon the Agent or any other Lender and based on such documents and information as
it has deemed appropriate, made its own credit analysis and decision to enter into this Assignment
and Assumption and to purchase the Assigned Interest, and (vi) if it is a Foreign Lender, attached
hereto is any documentation required to be delivered by it pursuant to the terms of the Credit
Agreement, duly completed and executed by the Assignee; and (b) agrees that (i) it will,
independently and without reliance on the Agent, the Assignor or any other Lender, and based on
such documents and information as it shall deem appropriate at the time, continue to make its own
credit decisions in taking or not taking action under the Loan Documents, and (ii) it will perform
in accordance with their terms all of the obligations which by the terms of the Loan Documents are
required to be performed by it as a Lender.

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

     3. General Provisions. This Assignment and Assumption shall be binding upon, and
inure to the benefit of, the parties hereto and their respective successors and assigns.

 

 

EXHIBIT B

FORM OF NOTE

July 19, 2010

     FOR VALUE RECEIVED, the undersigned (the “Borrower”), hereby promises to pay to
                                         or registered assigns (the “Lender”), in accordance with the
provisions of the Credit Agreement (as hereinafter defined), the principal amount of each
[Revolving] [Term] [Swing Line] Loan made by the Lender to the Borrower under that certain Credit
Agreement, dated as of July 19, 2010 (as amended, restated, extended, supplemented or otherwise
modified in writing from time to time, the “Credit Agreement”; the terms defined therein
being used herein as therein defined), among the Borrower; THE SHERWIN-WILLIAMS COMPANY, an Ohio
corporation; the Lenders from time to time party thereto; BANK OF AMERICA, N.A., as Administrative
Agent (in such capacity, the “Agent”) and as L/C Issuer; BANC OF AMERICA SECURITIES LLC,
as Sole Bookrunner and Joint Mandated Lead Arranger; and HSBC SECURITIES (USA) INC., as Joint
Mandated Lead Arranger.

     The Borrower promises to pay interest on the unpaid principal amount of each [Revolving]
[Term] [Swing Line] Loan from the date of such Loan until such principal amount is paid in full, at
such interest rates and at such times as provided in the Credit Agreement. Except as otherwise
provided in Section 2.06(f) of the Credit Agreement with respect to Swing Line Loans, all
payments of principal and interest shall be made to the Agent for the account of the Lender in
Euros in immediately available funds at the Agent’s Office. If any amount is not paid in full when
due hereunder, such unpaid amount shall bear interest, to be paid upon demand, from the due date
thereof until the date of actual payment (and before as well as after judgment) computed at the per
annum rate set forth in the Credit Agreement.

     This Note is one of the Notes referred to in the Credit Agreement, is entitled to the benefits
thereof and may be prepaid in whole or in part subject to the terms and conditions provided
therein. Upon the occurrence and continuation of one or more of the Events of Default specified in
the Credit Agreement, all amounts then remaining unpaid on this Note shall become, or may be
declared to be, immediately due and payable all as provided in the Credit Agreement. The
[Revolving] [Term] [Swing Line] Loans made by the Lender shall be evidenced by one or more loan
accounts or records maintained by the Lender in the ordinary course of business. The Lender may
also attach schedules to this Note and endorse thereon the date, amount and maturity of its
[Revolving] [Term] [Swing Line] Loans and payments with respect thereto.

     The Borrower, for itself, its successors and assigns, hereby waives diligence, presentment,
protest and demand and notice of protest, demand, dishonor and non-payment of this Note.

[Remainder of page intentionally left blank]

 

 

     THIS NOTE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW
YORK.

	 	 	 	 	 
	 	SHERWIN-WILLIAMS LUXEMBOURG S.À R.L.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

 

 

	 	 	 	 	 

LOANS AND PAYMENTS WITH RESPECT THERETO

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	Amount of Principal	 	 	Outstanding	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	End of Interest	 	 	or Interest Paid	 	 	Principal Balance	 	 	 	 
	Date	 	 	Type of Loan Made	 	 	Amount of Loan Made	 	 	Period	 	 	This Date	 	 	This Date	 	 	Notation Made By	 

 

 

EXHIBIT C

FORM OF SWING LINE LOAN NOTICE

Date:                     , _____

	 	 	 

	To:

	 	Banc of America Securities Limited, as Swing Line Lender

Bank of America, N.A., as Administrative Agent

Ladies and Gentlemen:

     Reference is made to that certain Credit Agreement, dated as of July 19, 2010 (as amended,
restated, extended, supplemented or otherwise modified in writing from time to time, (the
“Credit Agreement”; the terms defined therein being used herein as therein defined), among
SHERWIN-WILLIAMS LUXEMBOURG S.À R.L., a Luxembourg limited liability company organized under the
laws of Luxembourg with registered office at 13-15 avenue de la liberté L -1931 Luxembourg and with
a share capital of EUR 1,055,000 (the “Borrower”), THE SHERWIN-WILLIAMS COMPANY, an Ohio
corporation, the Lenders from time to time party thereto, BANK OF AMERICA, N.A., as Administrative
Agent and L/C Issuer, BANC OF AMERICA SECURITIES LLC, as Sole Bookrunner and Joint Mandated Lead
Arranger, and HSBC SECURITIES (USA) INC., as Joint Mandated Lead Arranger.

The undersigned hereby requests a Swing Line Loan:

1. On                                                             (a Business Day).

2. In the amount of $                                        .

     The Swing Line Borrowing requested herein complies with the requirements of the provisos to
the first sentence of Section 2.06(a) of the Credit Agreement.

[Signature Page Follows]

 

 

	 	 	 	 	 
	 	SHERWIN-WILLIAMS LUXEMBOURG S.À R.L.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:exv4w2

EXHIBIT 4.2

 

CREDIT AGREEMENT

among

SHERWIN-WILLIAMS CANADA INC.

as Borrower

THE SHERWIN-WILLIAMS COMPANY

as Guarantor

The Lenders Party Hereto

as Lenders

KEYBANK NATIONAL ASSOCIATION

as Joint Lead Arranger, Sole Bookrunner and Administrative Agent

and

PNC CAPITAL MARKETS, LLC

as Joint Lead Arranger and Syndication Agent

 

dated as of

July 19, 2010

 

 

 

 

TABLE OF CONTENTS

	 	 	 	 	 
	 	 	 	 	Page
	ARTICLE I. DEFINITIONS	 	1
	 
	 	Section 1.01.  Defined Terms	 	1
	 
	 	Section 1.02.  Classification of Loans and Borrowings	 	17
	 
	 	Section 1.03.  Terms Generally	 	17
	 
	 	Section 1.04.  Accounting Terms; GAAP	 	18
	 
	 	 	 	 
	ARTICLE II. THE LOANS	 	18
	 
	 	Section 2.01.  Revolving Loans	 	18
	 
	 	Section 2.02. Loans and Borrowings	 	18
	 
	 	Section 2.03.  Requests for Borrowings	 	19
	 
	 	Section 2.04.  Funding of Borrowings	 	20
	 
	 	Section 2.05.  Interest Elections	 	21
	 
	 	Section 2.06.  Termination or
Reduction of Commitments; Extensions of Commitments; Increase of Commitments 	 	22
	 
	 	Section 2.07.  Repayment of Loans; Evidence of Debt	 	25
	 
	 	Section 2.08.  Prepayment of Loans	 	25
	 
	 	Section 2.09.  Fees	 	26
	 
	 	Section 2.10.  Interest	 	27
	 
	 	Section 2.11.  Alternate Rate of Interest	 	28
	 
	 	Section 2.12.  Increased Costs	 	28
	 
	 	Section 2.13.  Break Funding Payments	 	29
	 
	 	Section 2.14.  Taxes	 	30
	 
	 	Section 2.15.  Payments Generally; Pro Rata Treatment; Sharing of Set-offs	 	31
	 
	 	Section 2.16.  Mitigation Obligations; Replacement of Lenders	 	33
	 
	 	 	 	 
	ARTICLE III. REPRESENTATIONS AND WARRANTIES	 	34
	 
	 	Section 3.01.  Organization; Powers	 	34
	 
	 	Section 3.02.  Authorization; Enforceability	 	34
	 
	 	Section 3.03.  Governmental Approvals; No Conflicts	 	34
	 
	 	Section 3.04.  Financial Condition; No Material Adverse Change	 	34
	 
	 	Section 3.05.  Properties	 	35
	 
	 	Section 3.06.  Litigation and Environmental Matters	 	35
	 
	 	Section 3.07.  Compliance with Laws and Agreements	 	36
	 
	 	Section 3.08.  Federal Reserve Regulations	 	36
	 
	 	Section 3.09.  Investment Company Status	 	36
	 
	 	Section 3.10.  Taxes	 	36
	 
	 	Section 3.11.  ERISA	 	36
	 
	 	Section 3.12.  Disclosure	 	36
	 
	 	 	 	 
	ARTICLE IV. CONDITIONS	 	37
	 
	 	Section 4.01.  Effective Date	 	37
	 
	 	Section 4.02.  Each Credit Event	 	38
	 
	 	 	 	 
	ARTICLE V. AFFIRMATIVE COVENANTS	 	38
	 
	 	Section 5.01.  Financial Statements; Ratings Change and Other Information	 	38

i

 

TABLE OF CONTENTS

	 	 	 	 	 
	 	 	 	 	Page
	 
	 	Section 5.02.  Notices of Material Events	 	40
	 
	 	Section 5.03.  Existence; Conduct of Business	 	40
	 
	 	Section 5.04.  Payment of Obligations	 	40
	 
	 	Section 5.05.  Maintenance of Properties; Insurance	 	40
	 
	 	Section 5.06.  Books and Records; Inspection Rights	 	41
	 
	 	Section 5.07.  Compliance with Laws	 	41
	 
	 	Section 5.08.  Use of Proceeds	 	41
	 
	 	 	 	 
	ARTICLE VI. NEGATIVE COVENANTS	 	41
	 
	 	Section 6.01.  Liens	 	41
	 
	 	Section 6.02.  Fundamental Changes	 	43
	 
	 	Section 6.03.  Leverage Ratio	 	43
	 
	 	 	 	 
	ARTICLE VII. EVENTS OF DEFAULT	 	43
	 
	 	 	 	 
	ARTICLE VIII. THE AGENT	 	45
	 
	 	Section 8.01.  Appointment and Authorization	 	45
	 
	 	Section 8.02.  The Agent and Affiliates	 	45
	 
	 	Section 8.03.  Action by the Agent; Knowledge or Notice of Default	 	46
	 
	 	Section 8.04.  Reliance by the Agent	 	46
	 
	 	Section 8.05.  Delegation of Duties	 	46
	 
	 	Section 8.06.  Successor Agent	 	47
	 
	 	Section 8.07.  No Reliance on the Agent	 	47
	 
	 	Section 8.08.  Other Agents	 	47
	 
	 	 	 	 
	ARTICLE IX. GUARANTY	 	48
	 
	 	Section 9.01.  Guaranty	 	48
	 
	 	Section 9.02.  Guaranty Absolute	 	48
	 
	 	Section 9.03.  Payment of Guaranteed Obligations	 	49
	 
	 	Section 9.04.  Waiver	 	49
	 
	 	 	 	 
	ARTICLE X. MISCELLANEOUS	 	50
	 
	 	Section 10.01.  Notices	 	50
	 
	 	Section 10.02.  Waivers; Amendments	 	50
	 
	 	Section 10.03.  Expenses; Indemnity; Damage Waiver	 	51
	 
	 	Section 10.04.  Successors and Assigns	 	53
	 
	 	Section 10.05.  Survival	 	56
	 
	 	Section 10.06.  Counterparts; Integration; Effectiveness	 	57
	 
	 	Section 10.07.  Severability	 	57
	 
	 	Section 10.08.  Right of Setoff	 	57
	 
	 	Section 10.09.  Governing Law; Jurisdiction; Consent to Service of Process	 	58
	 
	 	Section 10.10.  Headings	 	58
	 
	 	Section 10.11.  Confidentiality	 	58
	 
	 	Section 10.12.  Interest Rate Limitation	 	59
	 
	 	Section 10.13.  USA Patriot Act	 	60
	 
	 	Section 10.14.  No Advisory or Fiduciary Relationship	 	60

ii

 

TABLE OF CONTENTS

	 	 	 	 	 
	 	 	 	 	Page
	 
	 	Section 10.15.  Judgment Currency	 	61
	 
	 	Section 10.16.  Jury Trial Waiver	 	Signature Page 1

SCHEDULES:

Schedule 2.01 — Commitments

Schedule 10.01 — Notices

EXHIBITS:

	 	 	 	 	 

	Exhibit A

	 	-
	 	Form of Assignment and Assumption
	Exhibit B

	 	-
	 	Form of Revolving Note

iii

 

     This CREDIT AGREEMENT (as the same may from time to time be amended, restated or otherwise
modified, this “Agreement”) is made effective as of the 19th day of July, 2010 among:

     (a) SHERWIN-WILLIAMS CANADA INC., a Canadian federal corporation (the
“Borrower”);

     (b) THE SHERWIN-WILLIAMS COMPANY, an Ohio corporation (the “Guarantor”, and
together with the Borrower, collectively, the “Obligors” and, individually, each an
“Obligor”);

     (c) the Lenders party hereto;

     (d) KEYBANK NATIONAL ASSOCIATION, as the Agent (such term and each other capitalized
term used and not otherwise defined herein having the meaning assigned to it in Article I);

     (e) KEYBANK NATIONAL ASSOCIATION, as Sole Bookrunner and Joint Lead Arranger; and

     (f) PNC CAPITAL MARKETS, LLC, as Joint Lead Arranger and Syndication Agent.

     The Borrower has requested the Lenders to extend credit to enable it to borrow on a revolving
credit basis on and after the date hereof, and at any time and from time to time prior to the
Maturity Date, in the amounts and on the terms and conditions set forth herein. The proceeds of
borrowings hereunder are to be used for general corporate purposes, including refinancing
indebtedness and for acquisitions.

     The Lenders are willing to extend such credit to the Borrower on the terms and subject to the
conditions herein set forth.

     The Guarantor is willing to guarantee the obligations of the Borrower under the Loan Documents
on the terms herein set forth.

     Accordingly, the parties hereto agree as follows:

ARTICLE I. DEFINITIONS

     Section 1.01. Defined Terms. As used in this Agreement, the following terms have the
meanings specified below:

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

 

 

     “Affected Lender” means a Defaulting Lender or an Insolvent Lender.

     “Affiliate” means, with respect to a specified 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.

     “Agent” means KeyBank National Association, in its capacity as administrative agent
for the Lenders hereunder, and any successor administrative agent appointed pursuant to Article
VIII.

     “Agent Fee Letter” means the Agent Fee Letter between the Borrower and the Agent,
dated as of the Effective Date, as the same may from time to time be amended, restated or otherwise
modified.

     “Agent’s Office” means the Agent’s address and, as appropriate, account as set forth
in Schedule 10.01, or such other address or account designated by the Agent from time to time in a
notice to the Borrower and the Lenders.

     “Agreement” has the meaning set forth in the preamble hereof.

     “Applicable Percentage” means, on any date, with respect to a Lender, the percentage
of the total Commitments represented by such Lender’s Commitment as in effect on such date. If all
of the Commitments have been terminated or have expired, the Applicable Percentages shall be
determined based upon the amounts of the outstanding Loans or, if no Loans are outstanding, based
upon the Commitments most recently in effect, giving effect to any assignments.

     “Applicable Rate” means, for any day, in connection with the commitment fees payable
hereunder, or in connection with the interest accruing on any Canadian Base Rate Loans or Canadian
Fixed Rate Loans, the applicable rate per annum set forth below under the caption “Commitment Fee”,
“Applicable Margin for Canadian Base Rate Loans” and “Applicable Margin for Canadian Fixed Rate
Loans”, as the case may be, based upon the ratings by S&P, Moody’s and Fitch, respectively,
applicable on such date to the Index Debt.

	 	 	 	 	 	 	 
	 	 	 	 	Applicable Margin	 	Applicable Margin
	 	 	 	 	for Canadian Base	 	for Canadian Fixed
	Debt Rating	 	Commitment Fee	 	Rate Loans	 	Rate Loans
	Category 1

A+/A1/A+ or higher
	 	10.00
	 	0.00
	 	50.00
	 	 	 	 	 	 	 
	Category 2

A/A2/A
	 	15.00
	 	0.00
	 	100.00
	 	 	 	 	 	 	 
	Category 3

A-/A3/A-
	 	20.00
	 	25.00
	 	125.00
	 	 	 	 	 	 	 
	Category 4

BBB+/Baa1/BBB+
	 	32.50
	 	100.00
	 	200.00
	 	 	 	 	 	 	 
	Category 5

BBB/Baa2/BBB or 

lower or unrated
	 	45.00
	 	125.00
	 	225.00

2

 

For purposes of the foregoing, subject to the last two sentences of this definition:

     (a) if any of S&P, Moody’s or Fitch shall not have in effect a rating for the Index
Debt (other than by reason of the circumstances referred to in the last two sentences of
this definition), then such rating agency shall be deemed to have established a rating in
Category 5;

     (b) if the ratings established or deemed to have been established by S&P, Moody’s and
Fitch for the Index Debt shall fall within different Categories, then:

          (i) if two applicable ratings are equal and higher than the third applicable
rating, the Applicable Rate shall be based on the higher of the applicable ratings;

          (ii) if two applicable ratings are equal and lower than the third applicable
rating, the Applicable Rate shall be based on the lower of the applicable ratings;
and

          (iii) if no ratings are equal, the Applicable Rate shall be based on the
intermediate applicable rating of the three applicable ratings; and

     (c) if the ratings established or deemed to have been established by S&P, Moody’s and
Fitch for the Index Debt shall be changed (other than as a result of a change in the rating
system of S&P, Moody’s or Fitch), such change shall be effective as of the date on which it
is first announced by the applicable rating agency. Each change in the Applicable Rate
shall apply during the period commencing on the effective date of such change and ending on
the date immediately preceding the effective date of the next such change.

If the rating system of one of S&P, Moody’s or Fitch shall change, or, if any one of such rating
agencies shall cease to be in the business of rating corporate debt obligations, then, for purposes
of calculating the Applicable Rate above:

     (A) if either of the two other rating agencies shall not have in effect a rating for
the Index Debt (other than by reason of the circumstances referred to in the last sentence
of this definition), then such rating agency shall be deemed to have established a rating in
Category 5;

     (B) if the ratings established or deemed to have been established by the two other
ratings agencies for the Index Debt shall fall within different Categories, the Applicable
Rate shall be based on the higher of the two ratings unless one of the two
ratings is two or more Categories lower than the other, in which case the Applicable Rate

3

 

shall be determined by reference to the Category one level above the Category corresponding
to the lower rating; and

     (C) if the ratings established, or deemed to have been established, by the two other
ratings agencies for the Index Debt shall be changed (other than as a result of a change in
the rating system of any such rating agency), such change shall be effective as of the date
on which it is first announced by the applicable rating agency.

If the rating system of at least two of S&P, Moody’s or Fitch shall change, or if at least two of
any such rating agencies shall cease to be in the business of rating corporate debt obligations,
the Borrower and the Lenders shall negotiate in good faith to amend this definition to reflect such
changed rating systems or the unavailability of ratings from any such rating agencies and, pending
the effectiveness of any such amendment, the Applicable Rate shall be determined by reference to
the rating most recently in effect prior to such change or cessation.

     “Approved Fund” means, with respect to any Lender that is a fund that invests in bank
loans and similar extensions of credit, any other fund that invests in bank loans and similar
extensions of credit and is managed by the same investment advisor as such Lender or by an
Affiliate of such investment advisor.

     “Assignment and Assumption” means an assignment and assumption entered into by a
Lender and an assignee (with the consent of any party whose consent is required by Section 10.04),
and accepted by the Agent, in the form of Exhibit A or any other form approved by the
Agent.

     “Availability Period” means the period from, and including, the Effective Date to, but
excluding, the earlier of the Maturity Date and the date of the termination of all of the
Commitments.

     “Bankruptcy Code” means Title 11 of the United States Code entitled “Bankruptcy”, as
now or hereafter in effect, or any successor thereto, as hereafter amended.

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

     “Borrower” has the meaning set forth in the preamble hereof.

     “Borrowing” means Revolving Loans of the same Type, made, converted or continued on
the same date and, in the case of Canadian Fixed Rate Loans, as to which a single Interest Period
is in effect.

     “Borrowing Request” means a request by the Borrower for a Borrowing, in accordance
with Section 2.03.

     “Business Day” means any day that is not a Saturday, Sunday or other day on which
commercial banks are authorized or required by law to remain closed in the state where the

4

 

Agent’s
Office is located; provided that, when used in connection with a Loan, the term “Business Day”
shall also exclude any day on which commercial banks are not open for business in Toronto, Ontario.

     “Canadian Base Rate” means, for any day, the greater of (a) the floating per annum
interest rate for Canadian Dollar loans (that is, the “prime rate”) quoted for that day (or, if
such day is not a Business Day, the immediately preceding Business Day) in the rates section of the
Report on Business of The Globe and Mail, and (b) the average of the bid rates for Canadian Dollar
bankers’ acceptances having a period of one month quoted on Reuters Service page CDOR “Canadian
Interbank Bid BA Rates” on such date (or, if such day is not a Business Day, the immediately
preceding Business Day) plus 1.00%; provided that the Canadian Base Rate may not be the lower
interest rate charged in Canada by the Agent for Canadian Dollar loans. Each change in the
Canadian Base Rate shall be effective immediately from and after such change.

     “Canadian Base Rate Borrowing” means a Borrowing that is comprised of Loans that bear
interest at a rate determined by reference to the Canadian Base Rate.

     “Canadian Base Rate Loan” means a Loan that bears interest at a rate determined by
reference to the Canadian Base Rate.

     “Canadian Dollar” or “CAD” means lawful money of Canada.

     “Canadian Fixed Rate” means, for any Interest Period, a rate per annum equal to the
greater of (a) (i) for a Lender that is a Schedule I Bank, the total of (A) the average of the bid
rates for Canadian Dollar banker’s acceptances for such Interest Period quoted at approximately
10:00 A.M. (Toronto time) on such date (or, if such day is not a Business Day, the immediately
preceding Business Day on the Reuters Screen CDOR page) multiplied by (B) the Statutory Reserve
Rate, and (ii) for a Lender that is not a Schedule I Bank, the rate set forth under subsection (a)
above plus 10.00 basis points; and (b) 1.50%. Notwithstanding the foregoing, if such average rate
does not appear on the Reuters Screen CDOR Page as contemplated above, then the Canadian Fixed Rate
for such Interest Period on any day shall instead be calculated based on the arithmetic average of
the discount rates applicable to Canadian bankers’ acceptances for such Interest Period of, and as
quoted by, any two of the Schedule I Banks chosen by the Agent, as of 11:00 a.m., New York City
time, on such day, or, if such day is not a Business Day, then on the immediately preceding
Business Day. If only one Schedule I Bank quotes the aforementioned rate on such day, then the
Canadian Fixed Rate for such Interest Period on any day shall instead be calculated based on the
rate for such Interest Period quoted by such Schedule I Bank. If no Schedule I Bank quotes the
aforementioned rate on such day, then the Canadian Fixed Rate for such Interest Period on any day
shall instead be calculated based on the rate for such Interest Period chosen by the Agent.

     “Canadian Fixed Rate Borrowing” means a Borrowing that is comprised of Loans that bear
interest at a rate determined by reference to the Canadian Fixed Rate.

5

 

     “Canadian Fixed Rate Loan” means a Loan that bears interest at a rate determined by
reference to the Canadian Fixed Rate.

     “Capital Lease Obligations” of any Person means the obligations of such Person to pay
rent or other amounts under any lease of (or other arrangement conveying the right to use) real or
personal property, or a combination thereof, which obligations are required to be classified and
accounted for as capital leases on a balance sheet of such Person under GAAP, and the amount of
such obligations shall be the capitalized amount thereof determined in accordance with GAAP.

     “Change in 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), other than an
employee benefit or stock ownership plan of the Guarantor, of Equity Interests representing more
than 40% of the aggregate ordinary voting power represented by the issued and outstanding Equity
Interests of the Guarantor, (b) occupation of a majority of the seats (other than vacant seats) on
the board of directors of the Guarantor by Persons who were neither (i) nominated by the board of
directors of the Guarantor nor (ii) appointed by directors so nominated, or (c) the Borrower shall
cease to be a wholly-owned direct or indirect Subsidiary of the Guarantor.

     “Change in Law” means (a) the adoption of any law, rule or regulation after the date
of this Agreement, (b) any change in any law, rule or regulation or in the interpretation or
application thereof by any Governmental Authority after the date of this Agreement, or (c)
compliance by any Lender (or, for purposes of Section 2.12(b), by 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 Authority made or issued after the date of this
Agreement.

     “Charges” has the meaning set forth in Section 10.12.

     “Closing Fee Letter” means the Closing Fee Letter, dated as of the Effective Date,
between the Borrower and the Agent.

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

     “Commitment” means, with respect to each Lender, the commitment of such Lender to make
Revolving Loans hereunder, expressed as an amount representing the maximum aggregate permitted
amount of such Lender’s Revolving Credit Exposure hereunder, as such commitment may be reduced from
time to time pursuant to Section 2.06, increased from time to time pursuant to Section 2.06 or
reduced or increased from time to time pursuant to assignments by or to such Lender under Section
10.04. The initial amount of each Lender’s Commitment is set forth on Schedule 2.01, or in the
Assignment and Assumption pursuant to which such Lender shall have
assumed its Commitment, as applicable. The initial aggregate amount of the Lenders’ Commitments is
CAD 75,000,000.

     “Consenting Lender” has the meaning set forth in Section 2.06(b)(ii).

6

 

     “Consolidated EBITDA” means, for any period, for the Guarantor and its Subsidiaries on
a consolidated basis, an amount equal to consolidated net income of the Guarantor for such period
plus (a) to the extent deducted in calculating such consolidated net income, (i) consolidated
interest expense of the Guarantor for such period, (ii) consolidated income tax expense of the
Guarantor for such period, (iii) depreciation and amortization expense of the Guarantor and its
Subsidiaries for such period, and (iv) any non-cash expenses or losses of the Guarantor and its
Subsidiaries for such period that are classified as extraordinary under GAAP; and minus (b) to the
extent included in calculating such consolidated net income, any extraordinary income or gains of
the Guarantor and its Subsidiaries for such period, all computed in accordance with GAAP.

     “Consolidated Net Revenue” means, for any period, the net revenue of the Guarantor and
its Subsidiaries for such period, determined on a consolidated basis in accordance with GAAP.

     “Consolidated Net Worth” means, on any date, the shareholders’ equity of the Guarantor
on such date, determined in accordance with GAAP.

     “Consolidated Total Assets” means, on any date, the aggregate amount of assets of the
Guarantor and its Subsidiaries, determined on a consolidated basis in accordance with GAAP.

     “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.

     “Declining Lender” has the meaning set forth in Section 2.06(b)(ii).

     “Default” means any event or condition that constitutes an Event of Default or which
upon notice, lapse of time or both would, unless cured or waived, become an Event of Default.

     “Defaulting Lender” means any Lender, as reasonably determined by the Agent, that (a)
has failed (which failure has not been cured) to fund any Loan required to be made hereunder in
accordance with the terms hereof (unless such Lender shall have notified the Agent and the Borrower
in writing of its good faith determination that a condition under Section 4.02 hereof to its
obligation to fund any Loan shall not have been satisfied); (b) has notified the Borrower or the
Agent in writing that it does not intend to comply with any of its funding obligations under this
Agreement or has made a public statement to the effect that it does not intend to comply with its
funding obligations under this Agreement or generally under other agreements in which it commits to
extend credit; (c) has failed, within three Business Days after receipt of a written request from
the Agent or the Borrower to confirm that it will comply with the terms of this
 Agreement relating to its obligation to fund prospective Loans, and such request states that the
requesting party has reason to believe that the Lender receiving such request may fail to comply
with such obligation, and states such reason; or (d) has failed to pay to the Agent or any other
Lender when due an amount owed by such Lender to the Agent or any other Lender pursuant to the
terms of this Agreement, unless such amount is subject to a good faith dispute or such failure

7

 

has
been cured. Any Defaulting Lender shall cease to be a Defaulting Lender when the Agent determines,
in its reasonable discretion, that such Defaulting Lender is no longer a Defaulting Lender based
upon the characteristics set forth in this definition.

     “Dollars” or “$” refers to lawful money of the United States of America.

     “Effective Date” means the date on which the conditions specified in Section 4.01 are
satisfied (or waived in accordance with Section 10.02), which date is July 19, 2010.

     “Entitled Person” has the meaning set forth in Section 10.15(b).

     “Environmental Laws” means all laws, rules, regulations, codes, ordinances, orders,
decrees, judgments, injunctions or binding agreements issued, promulgated or entered into by any
Governmental Authority, relating in any way to the environment, preservation or reclamation of
natural resources, the management, release or threatened release of any Hazardous Material.

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

     “Equity Interests” means shares of capital stock, partnership interests, membership
interests in a limited liability company, beneficial interests in a trust or other equity ownership
interests in a Person, and any warrants, options or other rights entitling the holder thereof to
purchase or acquire any such equity interest.

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

     “ERISA Affiliate” means any trade or business (whether or not incorporated) that,
together with the Borrower, is treated as a single employer under Section 414(b) or (c) of the Code
or, solely for purposes of Section 302 of ERISA and Section 412 of the Code, is treated as a single
employer under Section 414(b), (c), (m) or (o) of the Code.

     “ERISA Event” means (a) any “reportable event”, as defined in Section 4043 of ERISA or
the regulations issued thereunder with respect to a Plan (other than an event for which the 30-day
notice period is waived); (b) the existence with respect to any Plan of an “accumulated funding
deficiency” (as defined in Section 412 of the Code or Section 302 of ERISA), whether or not waived;
(c) the filing pursuant to Section 412(d) of the Code or Section 303(d) of ERISA of an application
for a waiver of the minimum funding standard with respect to any Plan; (d) the incurrence by the
Guarantor or any of its ERISA Affiliates of any liability under Title IV of

8

 

ERISA with respect to
the termination of any Plan; (e) the receipt by the Guarantor or any ERISA Affiliate from the PBGC
or a plan administrator of any notice relating to an intention to terminate any Plan or Plans or to
appoint a trustee to administer any Plan; (f) the incurrence by the Guarantor or any of its ERISA
Affiliates of any liability with respect to the withdrawal or partial withdrawal from any Plan or
Multiemployer Plan; or (g) the receipt by the Guarantor or any ERISA Affiliate of any notice, or
the receipt by any Multiemployer Plan from the Guarantor or any ERISA Affiliate of any notice,
concerning the imposition of Withdrawal Liability or a determination that a Multiemployer Plan is,
or is expected to be, insolvent or in reorganization, within the meaning of Title IV of ERISA.

     “Event of Default” has the meaning assigned to such term in Article VII.

     “Excluded Taxes” means, with respect to the Agent or any Lender or any other recipient
of any payment to be made by or on account of any obligation of the Obligors hereunder, (a) income
or franchise taxes imposed on (or measured by) its net income by any Governmental Authority of the
jurisdiction (or any political subdivision thereof) under the Laws of which the Agent or such
Lender, as the case may be, is organized or maintains its applicable lending office, (b) any branch
profits taxes imposed by any Governmental Authority of the jurisdiction (or any political
subdivision thereof) under the Laws of which the Agent or such Lender, as the case may be, is
organized or maintains its applicable lending office, (c) in the case of a Foreign Lender (other
than an assignee pursuant to a request by the Borrower under Section 2.16(b)), any withholding tax
(other than Canadian withholding tax imposed under Part XIII of the Income Tax Act (Canada) or any
successor provision thereto on interest that is “participating debt interest” or interest that is
paid or payable to a person with whom the payer is not dealing at arm’s length) that is imposed by
Canada on amounts payable to such Foreign Lender that are in effect at the time such Foreign Lender
becomes a party to this Agreement (or designates a new lending office), 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 Obligors with respect to
such withholding tax pursuant to Section 2.14(a) and (d) in the case of any Lender, any withholding
tax that is imposed by Canada on amounts payable to such Lender that are attributable to such
Lender’s failure to comply with Section 2.14(e), or, with respect to a Foreign Lender, to the
extent that the forms deliverable pursuant to such Section 2.14(e) fail to establish a complete
exemption from withholding tax, other than as a result of a Change in Law.

     “Existing Maturity Date” has the meaning set forth in Section 2.06(b)(iii).

     “Federal Funds Effective Rate” means, for any day, the weighted average (rounded
upwards, if necessary, to the next 1/100 of 1%) of the rates on overnight federal funds
transactions with members of the Federal Reserve System arranged by federal funds brokers, as
published on the next succeeding Business Day by the Federal Reserve Bank of New York, or, if such
rate is not so published for any day that is a Business Day, the average (rounded upwards, if
necessary, to the next 1/100 of 1%) of the quotations for such day for such transactions received
by the Agent from three federal funds brokers of recognized standing selected by it.

9

 

     “Financial Officer” means, with respect to any corporate Person, the chief financial
officer, principal accounting officer, treasurer, or controller of such Person (or, in the case of
the Borrower, a member of the board of managers or the sole manager of such Person).

     “Fitch” means Fitch, Inc., and any successor to such company.

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

     “GAAP” means U.S. generally accepted accounting principles; provided that, if any
changes in U.S. generally accepted accounting principles from those used in the preparation of the
audited consolidated financial statements of the Borrower referred to in Section 3.04 occur by
reason of any change in the rules, regulations, pronouncements, opinions or other requirements of
the Financial Accounting Standards Board (FASB) (or any successor thereto or agency with similar
function), or if the Borrower adopts the International Financial Reporting Standards, and such
change in accounting principles and/or adoption of such standards results in a change in the method
or results of calculation of financial covenants and/or defined terms contained in this Agreement,
then at the option of the Required Lenders or the Borrower, the parties will enter into good faith
negotiations to amend such financial covenants and/or defined terms in such manner as the parties
shall agree, each acting reasonably, in order to reflect fairly such changes and/or adoption so
that the criteria for evaluating the financial condition of the Borrower shall be the same in
commercial effect after, as well as before, such changes and/or adoption are made (in which case
the method and calculation of financial covenants and/or the defined terms related thereto
hereunder shall be determined in the manner so agreed).

     “Governmental Authority” means the government of the United States of America, Canada,
or any other nation or any political subdivision thereof, whether state, provincial or local, and
any agency, authority, instrumentality, regulatory body, court, central bank or other entity
exercising executive, legislative, judicial, taxing, regulatory or administrative powers or
functions of or pertaining to government, including any supra-national bodies such as the European
Union or the European Central Bank and including, without limitation, Minister of the Crown,
Superintendent of Financial Institutions or other comparable authority or agency.

     “Guarantee” of or by any Person (the “guarantor”) means any obligation, contingent or
otherwise, of the guarantor guaranteeing or having the economic effect of guaranteeing any
Indebtedness or other obligation of any other Person (the “primary obligor”) in any manner, whether
directly or indirectly, and including any obligation of the guarantor, direct or indirect, (a) to
purchase or pay (or advance or supply funds for the purchase or payment of) such Indebtedness or
other obligation or to purchase (or to advance or supply funds for the purchase of) any security
for the payment thereof, (b) to purchase or lease property, securities or services for the purpose
of assuring the owner of such Indebtedness or other obligation of the payment thereof, (c) to
maintain working capital, equity capital or any other financial statement condition or liquidity of
the primary obligor so as to enable the primary obligor to pay such Indebtedness or other
obligation, or (d) as an account party in respect of any letter of credit or letter of

10

 

guaranty
issued to support such Indebtedness or obligation; provided that the term Guarantee shall not
include endorsements for collection or deposit in the ordinary course of business. For purposes
hereof, the amount of any Guarantee shall be deemed to be an amount equal to the stated or
determinable amount of the related primary obligations, or portion thereof, in respect of which
such Guarantee is made or, if not stated or determinable, the maximum reasonably anticipated
liability in respect thereof as determined by the guarantor in good faith.

     “Guaranteed Obligations” has the meaning set forth in Section 9.01.

     “Guarantor” has the meaning set forth in the preamble hereof.

     “Hazardous Materials” means all explosive or radioactive substances or wastes, and all
hazardous or toxic substances, wastes or other pollutants, including petroleum or petroleum
distillates, asbestos or asbestos containing materials, polychlorinated biphenyls, radon gas,
infectious or medical wastes, and all other substances or wastes of any nature regulated pursuant
to any Environmental Law.

     “Hedging Agreement” means any agreement with respect to any swap, forward, future or
derivative transaction or option, or similar agreement involving, or settled by reference to, one
or more rates, currencies or prices of commodities, equity or debt instruments or securities, or
economic, financial or pricing indices or measures of economic, financial or pricing risk or value,
or any similar transaction, or any combination of such transactions; provided that no phantom stock
or similar plan providing for payments only on account of services provided by current or former
directors, officers, employees or consultants of the Guarantor or its Subsidiaries shall be a
Hedging Agreement. The amount of the obligations of the Borrower or any Subsidiary in respect of
any Hedging Agreement at any time shall be the maximum aggregate amount (giving effect to any
netting agreements) that the Guarantor or such Subsidiary would be required to pay if such Hedging
Agreement were terminated at such time.

     “Indebtedness” of any Person means, without duplication, (a) all obligations of such
Person for borrowed money, (b) all obligations of such Person evidenced by bonds, debentures, notes
or similar instruments, (c) all obligations of such Person under conditional sale or other title
retention agreements relating to property acquired by such Person, (d) all obligations of such
Person in respect of the deferred purchase price of property or services, (e) all Indebtedness of
others secured by (or for which the holder of such Indebtedness has an existing right, contingent
or otherwise, to be secured by) any Lien on property owned or acquired by such Person, whether
or not the Indebtedness secured thereby has been assumed, (f) all Guarantees by such Person of
Indebtedness of others, (g) all Capital Lease Obligations of such Person, and (h) all obligations,
contingent or otherwise, of such Person as an account party in respect of letters of credit,
letters of guaranty and bankers’ acceptances; provided, however, that Indebtedness of any Person
shall not include (i) trade payables, (ii) any obligations of such Person incurred in connection
with letters of credit, letters of guaranty or similar instruments obtained or created in the
ordinary course of business to support obligations of such Person that do not constitute
Indebtedness, or (iii) endorsements of checks, bills of exchange and other instruments for deposit
or collection in the ordinary course of business.

11

 

     “Indemnified Taxes” means Taxes (other than Excluded Taxes) including Other
Taxes.

     “Index Debt” means senior, unsecured, long-term indebtedness for borrowed money of the
Guarantor that is not guaranteed by any other Person or subject to any other credit enhancement.

     “Insolvent Lender” means a Lender that (a) has become or is not solvent or is the
Subsidiary of a Person that has become or is not solvent; or (b) has become the subject of a
proceeding under the Bankruptcy Code or under any other applicable bankruptcy, insolvency or
similar law now or hereafter in effect, or has had a receiver, conservator, trustee or custodian
appointed for it, or has taken any action in furtherance of, or indicating its consent to, approval
of or acquiescence in any such proceeding or appointment, or is a Subsidiary of a Person that has
become subject of a proceeding under the Bankruptcy Code or under any other applicable bankruptcy,
insolvency or similar law now or hereafter in effect, or has had a receiver, conservator, trustee
or custodian appointed for it, or has taken any action in furtherance of, or indicating its consent
to, approval of or acquiescence in any such proceeding or appointment; provided that a Lender shall
not be an Insolvent Lender solely by virtue of the ownership or acquisition of an equity interest
in such Lender or a parent company thereof by a governmental authority or an instrumentality
thereof. Any Insolvent Lender shall cease to be an Insolvent Lender when the Agent determines, in
its reasonable discretion, that such Insolvent Lender is no longer an Insolvent Lender based upon
the characteristics set forth in this definition.

     “Interest Election Request” means a request by the Borrower to convert or continue a
Borrowing in accordance with Section 2.05.

     “Interest Payment Date” means (a) with respect to any Canadian Base Rate Loan, the
last day of each March, June, September and December, and (b) with respect to any Canadian Fixed
Rate Loan, the last day of the Interest Period applicable to the Borrowing of which such Loan is a
part, and, in the case of a Canadian Fixed Rate Borrowing with an Interest Period of more than
three months’ duration, each day prior to the last day of such Interest Period that occurs at
intervals of three months’ duration after the first day of such Interest Period.

     “Interest Period” means with respect to any Canadian Fixed Rate Borrowing, the period
commencing on the date of such Borrowing and ending on the numerically corresponding day in the
calendar month that is one, two, three or six months thereafter, as the Borrower may elect;
provided that (a) if any Interest Period would end on a day other than a Business Day, such
Interest Period shall be extended to the next succeeding Business Day unless such next succeeding
Business Day would fall in the next calendar month, in which case such Interest Period shall end on
the next preceding Business Day, and (b) any Interest Period pertaining to a Canadian Fixed Rate
Borrowing that commences on the last Business Day of a calendar month (or on a day for which there
is no numerically corresponding day in the last calendar month of such Interest Period) shall end
on the last Business Day of the last calendar month of such Interest Period. For purposes hereof,
the date of a Borrowing initially shall be the date on which such Borrowing is made and thereafter
shall be the effective date of the most recent conversion or continuation of such Borrowing.

12

 

     “Joint Lead Arrangers” means KeyBank National Association and PNC Capital Markets,
LLC.

     “Judgment Currency” has the meaning set forth in Section 10.15(b).

     “Lenders” means (a) the Persons listed on Schedule 2.01, and (b) any other Person that
shall have become a party hereto pursuant to an Assignment and Assumption, other than, in the case
of either of the foregoing, any such Person that ceases to be a party hereto pursuant to an
Assignment and Assumption.

     “Leverage Ratio” means, on any date, the ratio of (a) Total Indebtedness at such date,
to (b) Consolidated EBITDA for the period of four consecutive quarters ended on or most recently
prior to such date.

     “Lien” means, with respect to any asset, any mortgage, lien, pledge, charge, security
interest or encumbrance of any kind in respect of such asset. For the purposes of this Agreement,
the Guarantor or any Subsidiary shall be deemed to own subject to a Lien any asset which it has
acquired or holds subject to the interest of a vendor or lessor under any conditional sale
agreement, capital lease or other title retention agreement relating to such asset.

     “Loan” means a loan made by a Lender to the Borrower pursuant to this Agreement.

     “Loan Documents” means this Agreement, each Revolving Note, the Agent Fee Letter and
the Closing Fee Letter.

     “Margin Stock” shall have the meaning given such term under Regulation U.

     “Material Adverse Effect” means an event or circumstance that constitutes a material
adverse effect on (a) the business, operations or condition, financial or otherwise, of the
Guarantor and its Subsidiaries taken as a whole, (b) the ability of any Obligor to perform any of
its material obligations under this Agreement, or (c) the legality, validity, binding effect or
enforceability of this Agreement against any Obligor.

     “Material Indebtedness” means Indebtedness (other than the Loans), or obligations in
respect of one or more Hedging Agreements, of any one or more of the Guarantor and its Subsidiaries
in an aggregate principal amount exceeding $50,000,000. For purposes of determining Material
Indebtedness, the “principal amount” of the obligations of the Guarantor or any Subsidiary in
respect of any Hedging Agreement at any time shall be the maximum aggregate amount (giving effect
to any netting agreements) that the Guarantor or such Subsidiary would be required to pay if such
Hedging Agreement were terminated at such time.

     “Material Subsidiary” means, at any time, (a) each Subsidiary that would be a
“significant subsidiary” within the meaning of Rule 1-02 under Regulation S-X promulgated by the
Securities and Exchange Commission, (b) each other Subsidiary designated as a “designated
subsidiary” by the Guarantor, and (c) the Borrower. The Guarantor will designate one or more
Subsidiaries as “designated subsidiaries” when and as necessary in order that there will at no

13

 

time be two or more Subsidiaries that are not Material Subsidiaries under the preceding sentence
but that, if considered together as a single Subsidiary, would cause the total for all such
Subsidiaries to exceed 20% of either (i) Consolidated Total Assets at such time, or (ii)
Consolidated Net Revenue for the period of four calendar quarters ended at or most recently prior
to such time.

     “Maturity Date” means July 18, 2013, or, with respect to any Commitment that has been
extended, such later date as determined pursuant to Section 2.06(b).

     “Maximum Rate” has the meaning set forth in Section 10.12.

     “Moody’s” means Moody’s Investors Service, Inc., and any successor to such company.

     “Multiemployer Plan” means a multiemployer plan as defined in Section 4001(a)(3) of
ERISA.

     “Obligor” and “Obligors” have the meaning set forth in the preamble hereof.

     “Other Taxes” means any and all present or future stamp or documentary taxes or any
other excise or property taxes, charges or similar levies (but, for the avoidance of doubt,
excluding any tax, charge or levy that constitutes an Excluded Tax) arising from any payment made
hereunder or from the execution, delivery or enforcement of, or otherwise with respect to, this
Agreement.

     “Participant” has the meaning set forth in Section 10.04.

     “PBGC” means the Pension Benefit Guaranty Corporation referred to and defined in
ERISA, and any successor entity performing similar functions.

     “Permitted Encumbrances” means:

     (a) Liens imposed by law for taxes, assessments and governmental charges or levies that
are not yet due, or are being contested in compliance with Section 5.04;

     (b) carriers’, warehousemen’s, mechanics’, materialmen’s, repairmen’s, landlord’s and
other like Liens imposed by law and arising in the ordinary course of business that do not
materially detract from the Borrower’s assets or materially impair the use thereof in the
ordinary course of business or are being contested in compliance with Section 5.04;

     (c) pledges and deposits made in the ordinary course of business in compliance with
workers’ compensation, unemployment insurance and other social security laws or regulations;

14

 

     (d) deposits to secure the performance of bids, trade contracts, leases, statutory
obligations, surety and appeal bonds, performance bonds and other obligations of a like
nature, in each case in the ordinary course of business;

     (e) liens in favor of the United States of America or any department or agency thereof,
or in favor of any state government or political subdivision thereof, or in favor of a prime
contractor under a government contract of the United States, or of a state government or
political subdivision thereof, in each case resulting from the acceptance of partial,
progress, advance or other payments in the ordinary course of business under government
contracts of the United States, or of a state government or political subdivision thereof,
or subcontracts thereunder;

     (f) judgment liens in respect of judgments that do not constitute an Event of Default
under subsection (k) of Article VII;

     (g) easements, zoning restrictions, rights-of-way and similar encumbrances on real
property imposed by law, or arising in the ordinary course of business, that do not secure
any monetary obligations and do not materially detract from the value of the affected
property, or interfere with the ordinary conduct of business of the Guarantor or any
Subsidiary; and

     (h) other Liens incidental to the conduct of the business of the Guarantor or any
Subsidiary, or the ownership of the property or assets of the Guarantor or such Subsidiary,
that do not in the aggregate materially detract from the value of such properties or assets
or materially impair the use thereof in the operation of the business of the Guarantor or
such Subsidiary;

provided that the term “Permitted Encumbrances” shall not include any Lien securing Indebtedness.

     “Person” means an individual, a corporation, a partnership, a limited liability
company, a limited liability partnership, an association, a trust or any other entity or
organization, including a government or political subdivision or an agency or instrumentality
thereof.

     “Plan” means any employee pension benefit plan (other than a Multiemployer Plan)
subject to the provisions of Title IV of ERISA or Section 412 of the Code or Section 302 of ERISA,
and in respect of which the Guarantor or any ERISA Affiliate is (or, if such plan were terminated,
would under Section 4069 of ERISA be deemed to be) an “employer” as defined in Section 3(5) of
ERISA.

     “Register” has the meaning set forth in Section 10.04.

     “Regulation U” means Regulation U of the Board, as the same is from time to time in
effect, and all official rulings and interpretations thereunder or thereof.

15

 

     “Regulation X” means Regulation X of the Board, as the same is from time to time in
effect, and all official rulings and interpretations thereunder or thereof.

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

     “Required Lenders” means, at any time, Lenders holding in the aggregate more than 50%
of (a) the unfunded Commitments and the aggregate outstanding principal amount of Loans, or (b) if
all of the Commitments have been terminated, the aggregate outstanding principal amount of Loans;
provided that (i) the unfunded Commitments of, and the outstanding principal amount of Loans held
or deemed held by, any Affected Lender shall be excluded for purposes of making a determination of
Required Lenders, and (ii) if there shall be two or more Lenders (that are not Affected Lenders),
Required Lenders shall constitute at least two Lenders.

     “Revolving Credit Exposure” means, with respect to any Lender at any time, the sum of
the outstanding principal amount of such Lender’s Revolving Loans at such time.

     “Revolving Loan” has the meaning specified in Section 2.01.

     “Revolving Note” means a promissory note made by the Borrower in favor of a Lender
evidencing Revolving Loans, substantially in the form of Exhibit B.

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

     “Schedule I Bank” means a bank listed on Schedule I (as amended or replaced from time
to time) to the Bank Act (Canada).

     “Securitization Transaction” means any transfer by the Guarantor or any Subsidiary of
accounts receivable or interests therein (a) to a trust, partnership, corporation or other entity,
which transfer is funded in whole or in part, directly or indirectly, by the incurrence or issuance
by the transferee, or any successor transferee, of Indebtedness or securities that are to receive
payments from, or that represent interests in, the cash flow derived from such accounts receivable
or interests, or (b) directly to one or more investors or other purchasers. The amount of any
Securitization Transaction shall be deemed at any time to be the aggregate principal or stated
amount of the Indebtedness or other securities referred to in the preceding sentence, or, if there
shall be no such principal or stated amount, the uncollected amount of the accounts receivable or
interests therein transferred to the ultimate investors or other purchasers pursuant to such
Securitization Transaction net of any such accounts receivable that have been written off as
uncollectible.

     “Statutory Reserve Rate” means a fraction (expressed as a decimal), the numerator of
which is the number one and the denominator of which is the number one minus the aggregate of the
maximum reserve percentages (including any marginal, special, emergency or supplemental reserves)
expressed as a decimal established by the Board to which the Agent is subject for

16

 

eurocurrency funding (currently referred to as “Eurocurrency Liabilities” in Regulation D of the
Board). Such reserve percentages shall include those imposed pursuant to such Regulation D.
Canadian Fixed Rate Loans shall be deemed to constitute eurocurrency funding and to be subject to
such reserve requirements without benefit of or credit for proration, exemptions or offsets that
may be available from time to time to any Lender under such Regulation D or any comparable
regulation. The Statutory Reserve Rate shall be adjusted automatically on and as of the effective
date of any change in any reserve percentage.

     “Subsidiary” means, with respect to any Person (the “parent”) at any date, any
corporation, limited liability company, partnership, association or other entity the accounts of
which would be consolidated with those of the parent in the parent’s consolidated financial
statements if such financial statements were prepared in accordance with GAAP, as well as any other
corporation, limited liability company, partnership, association or other entity of which
securities or other ownership interests representing more than 50% of the equity or more than 50%
of the ordinary voting power or, in the case of a partnership, more than 50% of the general
partnership interests are, as of such date, owned by the parent or one or more subsidiaries of the
parent or by the parent and one or more subsidiaries of the parent. Unless otherwise specified,
references to Subsidiary shall mean a Subsidiary of the Guarantor.

     “Taxes” means any and all present or future taxes, levies, imposts, duties,
deductions, charges or withholdings imposed by any Governmental Authority.

     “Total Indebtedness” means all Indebtedness of the Guarantor and its Subsidiaries,
determined on a consolidated basis in accordance with GAAP.

     “Transactions” means the execution, delivery and performance by each Obligor of this
Agreement, the borrowing of Loans hereunder and the use of the proceeds thereof.

     “Type” when used in reference to any Loan or Borrowing, refers to whether the rate of
interest on such Loan, or on the Loans comprising such Borrowing, is determined by reference to the
Canadian Fixed Rate or the Canadian Base Rate.

     “USA Patriot Act” means the Uniting and Strengthening America by Providing Appropriate
Tools Required to Intercept and Obstruct Terrorism Act of 2001.

     “Withdrawal Liability” means liability to a Multiemployer Plan as a result of a
complete or partial withdrawal from such Multiemployer Plan, as such terms are defined in Part I of
Subtitle E of Title IV of ERISA.

     Section 1.02. Classification of Loans and Borrowings. For purposes of this
Agreement, Loans may be classified and referred to by Type (e.g., a “Canadian Fixed Rate Loan”) and
Borrowings also may be classified and referred to by Type (e.g., a “Canadian Fixed Rate
Borrowing”).

     Section 1.03. Terms Generally. The definitions of terms herein shall apply equally
to the singular and plural forms of the terms defined. Whenever the context may require, any pronoun

17

 

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 (a) any definition
of or reference to any agreement, instrument or other document herein shall be construed as
referring to such agreement, instrument or other document as from time to time amended,
supplemented or otherwise modified (subject to any restrictions on such amendments, supplements or
modifications set forth herein), (b) any reference herein to any Person shall be construed to
include such Person’s successors and assigns, (c) the words “herein”, “hereof” and “hereunder”, and
words of similar import, shall be construed to refer to this Agreement in its entirety and not to
any particular provision hereof, (d) all references herein to Articles, Sections, Exhibits and
Schedules shall be construed to refer to Articles and Sections of, and Exhibits and Schedules to,
this Agreement, and (e) the words “asset” and “property” shall be construed to have the same
meaning and effect and to refer to any and all tangible and intangible assets and properties,
including cash, securities, accounts and contract rights.

     Section 1.04. Accounting Terms; GAAP. Except as otherwise expressly provided herein,
all terms of an accounting or financial nature shall be construed in accordance with GAAP, as in
effect from time to time; provided that, if the Borrower notifies the Agent that the Borrower
requests an amendment to any provision hereof to eliminate the effect of any change occurring after
the date hereof in GAAP or in the application thereof on the operation of such provision (or if the
Agent notifies the Borrower that the Required Lenders request an amendment to any provision hereof
for such purpose), regardless of whether any such notice is given before or after such change in
GAAP or in the application thereof, then such provision shall be interpreted on the basis of GAAP
as in effect and applied immediately before such change shall have become effective until such
notice shall have been withdrawn or such provision amended in accordance herewith.

ARTICLE II. THE LOANS

     Section 2.01. Revolving Loans. Subject to the terms and conditions set forth herein,
each Lender agrees to make loans (each such loan, a “Revolving Loan” and collectively, the
“Revolving Loans”) to the Borrower from time to time during the Availability Period in an
aggregate principal amount that will not result in such Lender’s Revolving Credit Exposure
exceeding such Lender’s Commitment or the sum of the total Revolving Credit Exposures of all of the
Lenders exceeding the total Commitments of all of the Lenders. Within the foregoing limits and
subject to the terms and conditions set forth herein, the Borrower may borrow, prepay and reborrow
Revolving Loans.

     Section 2.02. Loans and Borrowings.

     (a) Each Revolving Loan shall be made as part of a Borrowing consisting of Revolving
Loans made by the Lenders ratably in accordance with their respective Commitments (except as
otherwise provided pursuant to Section 2.04(c)). The failure of any Lender
 to make any Loan required to be made by it shall not relieve any
 other Lender

18

 

of
its obligations hereunder; provided that the Commitments of the Lenders are several and no
Lender shall be responsible for any other Lender’s failure to make Loans as required.

     (b) Subject to Section 2.11, each Borrowing shall be comprised entirely of Canadian
Base Rate Loans or Canadian Fixed Rate Loans, as the Borrower may request in accordance
herewith. Each Lender, at its option, may make any Canadian Fixed Rate Loan by causing any
domestic or foreign branch or Affiliate of such Lender to make such Loan; provided that any
exercise of such option shall not affect the obligation of the Borrower to repay such Loan
in accordance with the terms of this Agreement, and shall not be inconsistent with the duty
of such Lender under Section 2.16(a) to minimize amounts payable by the Borrower under
Section 2.12 or 2.14.

     (c) At the commencement of each Interest Period for any Canadian Fixed Rate Borrowing,
such Borrowing shall be in an aggregate amount that is an integral multiple of CAD 1,000,000
and not less than CAD 10,000,000. At the time that each Canadian Base Rate Borrowing is
made, such Borrowing shall be in an aggregate amount that is an integral multiple of CAD
1,000,000 and not less than CAD 10,000,000; provided that a Canadian Base Rate Borrowing may
be in an aggregate amount that is equal to the entire unused balance of the total
Commitments. Borrowings of more than one Type may be outstanding at the same time; provided
that there shall not at any time be more than a total of 10 Canadian Fixed Rate Borrowings
outstanding.

     (d) Notwithstanding any other provision of this Agreement, the Borrower shall not be
entitled to request, or to elect to convert or continue, any Borrowing if the Interest
Period requested with respect thereto would end after the Maturity Date.

     Section 2.03. Requests for Borrowings. To request a Borrowing, the Borrower shall
notify the Agent of such request by telephone (a) in the case of a Canadian Fixed Rate Borrowing,
not later than 11:00 a.m., New York City time, three Business Days before the date of the proposed
Borrowing, or (b) in the case of a Canadian Base Rate Borrowing, not later than 11:00 a.m., New
York City time, on the Business Day of the proposed Borrowing. Each such telephonic Borrowing
Request shall be irrevocable and shall be confirmed promptly by hand delivery or .pdf via
electronic mail to the Agent of a written Borrowing Request in a form approved by the Agent and
signed by a Financial Officer of the Borrower. Each such telephonic and written Borrowing Request
shall specify the following information in compliance with Section 2.02:

     (i) the aggregate amount of the requested Borrowing;

     (ii) the date of such Borrowing, which shall be a Business Day;

     (iii) whether such Borrowing is to be a Canadian Base Rate Borrowing or a Canadian
Fixed Rate Borrowing;

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     (iv) in the case of a Canadian Fixed Rate Borrowing, the initial Interest Period to be
applicable thereto, which shall be a period contemplated by the definition of the term
“Interest Period”; and

     (v) the location and number of the Borrower’s account to which funds are to be
disbursed.

If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be a
Canadian Base Rate Borrowing. If no Interest Period is specified with respect to any requested
Canadian Fixed Rate Borrowing, then the Borrower shall be deemed to have selected an Interest
Period of one month’s duration. Promptly following receipt of a Borrowing Request in accordance
with this Section, the Agent shall advise each Lender of the details thereof and of the amount of
such Lender’s Loan to be made as part of the requested Borrowing.

     Section 2.04. Funding of Borrowings.

     (a) Each Lender shall make each Loan to be made by it hereunder on the proposed date
thereof by wire transfer of immediately available funds by 12:00 p.m. (noon), New York City
time, to the account of the Agent most recently designated by it for such purpose by notice
to the Lenders. The Agent will make such Borrowing available to the Borrower by crediting
the amounts so received, in like funds, to an account designated by the Borrower in the
applicable Borrowing Request by 2:00 p.m., New York City time, on the funding date.

     (b) Unless the Agent shall have received notice from a Lender prior to the proposed
date of any Borrowing that such Lender will not make available to the Agent such Lender’s
share of such Borrowing, the Agent may assume that such Lender has made such share available
on such date in accordance with subsection (a) of this Section and may, in reliance upon
such assumption, make available to the Borrower a corresponding amount. In such event, if a
Lender has not in fact made its share of the applicable Borrowing available to the Agent,
then the applicable Lender and the Borrower severally agree to pay to the Agent forthwith on
demand such corresponding amount with interest thereon, for each day from and including the
date such amount is made available to the Borrower to but excluding the date of payment to
the Agent, at (i) in the case of such Lender, the greater of the Federal Funds Effective
Rate and a rate determined by the Agent in accordance with banking industry rules on
interbank compensation, or (ii) in the case of the Borrower, the interest rate applicable to
such Loan. If such Lender pays such amount to the Agent, then such amount shall constitute
such Lender’s Loan included in such Borrowing.

     (c) Notwithstanding anything in this Agreement to the contrary, if Borrower requests a
Borrowing pursuant to Section 2.03 (and all conditions precedent set forth in Section 4.02
are met) at a time when one or more Lenders are Affected Lenders, the non-Affected Lenders
shall honor such request by making a non pro-rata Borrowing to the Borrower in an amount
equal to (i) the amount requested by the Borrower, minus (ii) the
portions of such Borrowing that should have been made by such Affected Lenders. For

20

 

purposes of such Borrowing, the Lenders that are making such Borrowing shall do so in
proportion to their Applicable Percentages of the amount requested by the Borrower.

     Section 2.05. Interest Elections.

     (a) Each Borrowing initially shall be of the Type specified in the applicable Borrowing
Request and, in the case of a Canadian Fixed Rate Borrowing, shall have an initial Interest
Period as specified in such Borrowing Request. Thereafter, the Borrower may elect to
convert such Borrowing to a different Type or to continue such Borrowing, and, in the case
of a Canadian Fixed Rate Borrowing, may elect Interest Periods therefor, all as provided in
this Section. The Borrower may elect different options with respect to different portions
of the affected Borrowing, in which case each such portion shall be allocated ratably among
the Lenders holding the Loans comprising such Borrowing, and the Loans comprising each such
portion shall be considered a separate Borrowing.

     (b) To make an election pursuant to this Section, the Borrower shall notify the Agent
of such election by telephone by the time that a Borrowing Request would be required under
Section 2.03 if the Borrower were requesting a Borrowing of the Type resulting from such
election to be made on the effective date of such election. Each such telephonic Interest
Election Request shall be irrevocable and shall be confirmed promptly by hand delivery or
 .pdf via electronic mail to the Agent of a written Interest Election Request in a form
approved by the Agent and signed by a Financial Officer of the Borrower.

     (c) Each telephonic and written Interest Election Request shall specify the following
information in compliance with Section 2.02:

     (i) the Borrowing to which such Interest Election Request applies, and, if
different options are being elected with respect to different portions thereof, the
portions thereof to be allocated to each resulting Borrowing (in which case the
information to be specified pursuant to subparts (iii) and (iv) below shall be
specified for each resulting Borrowing);

     (ii) the effective date of the election made pursuant to such Interest Election
Request, which shall be a Business Day;

     (iii) whether the resulting Borrowing is to be a Canadian Base Rate Borrowing
or a Canadian Fixed Rate Borrowing; and

     (iv) if the resulting Borrowing is a Canadian Fixed Rate Borrowing, the
Interest Period to be applicable thereto after giving effect to such election, which
shall be a period contemplated by the definition of the term “Interest Period”.

If any such Interest Election Request requests a Canadian Fixed Rate Borrowing but does not specify
an Interest Period, then the Borrower shall be deemed to have selected an Interest Period of one
month’s duration.

21

 

     (d) Promptly following receipt of an Interest Election Request, the Agent shall advise
each Lender of the details thereof and of such Lender’s portion of each resulting Borrowing.

     (e) If the Borrower fails to deliver a timely Interest Election Request with respect to
a Canadian Fixed Rate Borrowing prior to the end of the Interest Period applicable thereto,
then, unless such Borrowing is repaid as provided herein, at the end of such Interest Period
such Borrowing shall be converted to a Canadian Base Rate Borrowing. Notwithstanding any
contrary provision hereof, if an Event of Default has occurred and is continuing and the
Agent, at the request of the Required Lenders, so notifies the Borrower, then, so long as an
Event of Default is continuing (i) no outstanding Borrowing may be converted to or continued
as a Canadian Fixed Rate Borrowing and (ii) unless repaid, each Canadian Fixed Rate
Borrowing shall be converted to a Canadian Base Rate Borrowing at the end of the Interest
Period applicable thereto.

     Section 2.06. Termination or Reduction of Commitments; Extensions of Commitments;
Increase of Commitments.

     (a) Termination or Reduction of Commitments.

     (i) Unless previously terminated, each Commitment shall terminate on the
Maturity Date applicable thereto.

     (ii) The Borrower may at any time terminate, or from time to time reduce, the
Commitments; provided that (A) each reduction of the Commitments shall be in an
aggregate amount that is an integral multiple of CAD 1,000,000 and not less than CAD
5,000,000, and (B) the Borrower shall not terminate or reduce the Commitments if,
after giving effect to any concurrent prepayment of the Loans in accordance with
Section 2.08, the sum of the Revolving Credit Exposures would exceed the total
Commitments.

     (iii) The Borrower shall notify the Agent of any election to terminate or
reduce the Commitments under subpart (ii) of this Section at least three Business
Days prior to the effective date of such termination or reduction, specifying such
election and the effective date thereof. Promptly following receipt of any notice,
the Agent shall advise the Lenders of the contents thereof. Each notice delivered
by the Borrower pursuant to this Section shall be irrevocable; provided that a
notice of termination of the Commitments delivered by the Borrower may state that
such notice is conditioned upon the effectiveness of other credit facilities, in
which case such notice may be revoked by the Borrower (by notice to the Agent
on or prior to the specified effective date) if such condition is not satisfied.
Any termination or reduction of the Commitments shall be permanent. Each reduction
of the Commitments shall be made ratably among the Lenders in accordance with their
respective Commitments.

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     (b) Extension of Commitments.

     (i) On not more than two occasions during the term of this Agreement, the
Borrower may, by written notice to the Agent (which shall promptly deliver a copy to
each of the Lenders) not less than 30 days and not more than 90 days prior to any
anniversary of the date hereof, request that the Lenders extend the Maturity Date
and the Commitments for an additional period of one year.

     (ii) Each Lender shall, by notice to the Borrower and the Agent, given not
later than the 20th day after the date of the Agent’s receipt of the
Borrower’s extension request, advise the Borrower whether or not it agrees to the
requested extension (each Lender agreeing to a requested extension being called a
“Consenting Lender” and each Lender declining to agree to a requested
extension being called a “Declining Lender”). Any Lender that has not so
advised the Borrower and the Agent by such day shall be deemed to have declined to
agree to such extension and shall be a Declining Lender. The decision to agree or
withhold agreement to any Maturity Date extension under this Section shall be at the
sole discretion of each Lender.

     (iii) If Lenders constituting the Required Lenders shall have agreed to an
extension request, then the Maturity Date shall, as to the Consenting Lenders, be
extended to the first anniversary of the Maturity Date theretofore in effect. The
Commitment of any Declining Lender shall terminate on the Maturity Date in effect as
to such Lender prior to giving effect to any such extension (such Maturity Date
being called the “Existing Maturity Date”). The principal amount of any
outstanding Loans made by the Declining Lenders, together with any accrued interest
thereon and any accrued fees and other amounts payable to or for the accounts of
such Declining Lenders hereunder, shall be due and payable on the Existing Maturity
Date, and on the Existing Maturity Date the Borrower shall also make such other
prepayments of its Loans as shall be required in order that (and it shall be a
condition to the effectiveness of the extension of the Commitments of the Consenting
Lenders that), after giving effect to the termination of the Commitments of, and all
payments to, the Declining Lenders pursuant to this sentence, the sum of the total
Revolving Credit Exposures shall not exceed the total Commitments.

     (iv) Notwithstanding the foregoing provisions of this subsection (b), the
Borrower shall have the right, pursuant to and in accordance with the requirements
of Section 10.04, at any time prior to the Existing Maturity Date, to cause a
Declining Lender to assign its rights and obligations hereunder to a
Lender or other financial institution that will agree to a request for the extension
of the Maturity Date, and any such replacement Lender shall for all purposes
constitute a Consenting Lender.

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     (v) Notwithstanding the foregoing, no extension of the Maturity Date pursuant
to this paragraph shall become effective unless (A) on the anniversary of the date
hereof that immediately follows the date on which the Borrower delivers the
applicable request for extension of the Maturity Date, the conditions set forth in
subsections (a) and (b) of Section 4.02 shall be satisfied (with all references in
such paragraphs to a Loan being deemed to be references to such extension and
without giving effect to the parenthetical in Section 4.02(a)), and (B) the Agent
shall have received a certificate to that effect dated such date and executed by a
Financial Officer of the Borrower.

     (c) Increase of Commitments. The Borrower may, at any time and from time to
time, upon prior written notice by the Borrower to the Agent, increase the Commitments up to
a maximum aggregate amount of CAD 112,500,000 with additional Commitments from any existing
Lender or from any other financial institution selected by the Borrower and reasonably
acceptable to the Agent and the Guarantor; provided that:

     (i) any such increase shall be in a minimum principal amount of CAD 25,000,000
and in integral multiples of CAD 1,000,000 in excess thereof;

     (ii) no Default or Event of Default shall exist and be continuing at the time
of any such increase;

     (iii) no existing Lender shall be under any obligation to increase its
Commitment and any such decision whether to increase its Commitment shall be in such
Lender’s sole and absolute discretion;

     (iv) (A) any new Lender shall join this Agreement by executing such joinder
documents reasonably required by the Agent and/or (B) any existing Lender electing
to increase its Commitment shall have executed a commitment agreement reasonably
satisfactory to the Agent; and

     (v) as a condition precedent to such increase, the Borrower shall deliver to
the Agent a certificate of the Borrower dated as of the date of such increase signed
by the President, a Vice President or a Financial Officer of the Borrower (A)
certifying and attaching the resolutions adopted by the Borrower approving or
consenting to such increase, and (B) certifying that, before and after giving effect
to such increase, (1) the representations and warranties of the Borrower and the
Guarantor set forth in this Agreement are true and correct in all material respects
on and as of the date of such increase, except that for purposes of this Section
2.06(c), the representations and warranties in Section 3.04(a) shall be deemed to
refer to the most recent statements furnished pursuant to subsections
(a) and (b), respectively, of Section 5.01, and (2) no Default or Event of Default
exists.

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The Borrower shall prepay any Revolving Loans owing by it and outstanding on the date of any
such increase (and pay any additional amounts required pursuant to Section 2.13) to the
extent necessary to keep the outstanding Revolving Loans ratable with any revised
Commitments arising from any nonratable increase in the Commitments under this Section.

     Section 2.07. Repayment of Loans; Evidence of Debt.

     (a) The Borrower hereby unconditionally promises to pay to the Agent, for the account
of each Lender, the then unpaid principal amount of the Revolving Loans made by such Lender
(together with interest thereon and other amounts payable hereunder) on the Maturity Date
applicable to such Revolving Loans, or on such earlier date on which all of the Commitments
shall have been terminated.

     (b) Each Lender shall maintain, in accordance with its usual practice, an account or
accounts evidencing the indebtedness of the Borrower to such Lender resulting from each Loan
made by such Lender, including the amounts of principal and interest payable and paid to
such Lender from time to time hereunder.

     (c) The Agent shall maintain accounts in which it shall record (i) the amount of each
Loan made hereunder, the Type thereof and the Interest Period applicable thereto, (ii) the
amount of any principal or interest due and payable or to become due and payable from the
Borrower to each Lender hereunder, and (iii) the amount of any sum received by the Agent
hereunder for the account of the Lenders and each Lender’s share thereof.

     (d) The entries made in the accounts maintained pursuant to subsection (b) or (c) of
this Section shall be prima facie evidence of the existence and amounts of the obligations
recorded therein; provided that the failure of any Lender or the Agent to maintain such
accounts or any error therein shall not in any manner affect the obligation of the Borrower
to repay the Loans in accordance with the terms of this Agreement.

     (e) Any Lender may request that the Revolving Loans made by it be evidenced by a
Revolving Note. In such event, the Agent shall prepare and provide to the Borrower for
execution and delivery to such Lender a Revolving Note payable to the order of such Lender
(or, if requested by such Lender, to such Lender and its registered assigns). Thereafter,
the Revolving Loans evidenced by such Revolving Note and interest thereon shall at all times
(including after assignment pursuant to Section 10.04) be represented by one or more
Revolving Notes in such form payable to the order of the payee named therein (or, if such
Revolving Note is a registered note, to such payee and its registered assigns).

     Section 2.08. Prepayment of Loans.

     (a) The Borrower shall have the right at any time and from time to time to prepay any
Borrowing in whole or in part, subject to prior notice in accordance with subsection (b) of
this Section.

25

 

     (b) The Borrower shall notify the Agent by telephone (confirmed by .pdf via electronic
mail) of any prepayment hereunder (i) in the case of prepayment of a Canadian Fixed Rate
Borrowing, not later than 11:00 a.m., New York City time, three Business Days before the
date of prepayment, or (ii) in the case of prepayment of a Canadian Base Rate Borrowing, not
later than 11:00 a.m., New York City time, on the date of prepayment. Each such notice
shall be irrevocable and shall specify the prepayment date and the principal amount of each
Borrowing, or portion thereof, to be prepaid; provided that, if a notice of prepayment is
given in connection with a conditional notice of termination of the Commitments as
contemplated by Section 2.06, then such notice of prepayment may be revoked if such notice
of termination is revoked in accordance with Section 2.06. Promptly following receipt of
any such notice relating to a Borrowing, the Agent shall advise the Lenders of the contents
thereof. Each partial prepayment of any Borrowing shall be in an amount that would be
permitted in the case of an advance of a Borrowing of the same Type as provided in Section
2.02. Each prepayment of a Borrowing shall be applied ratably to the Loans included in the
prepaid Borrowing. Prepayments shall be accompanied by accrued interest to the extent
required by Section 2.10.

     (c) Notwithstanding anything in this Section 2.08 or otherwise to the contrary, at the
discretion of the Agent, in order to prepay Borrowings that were not advanced pro rata by
all of the Lenders, any prepayment of any Borrowing may first be applied to such Borrowings
that were not advanced pro rata.

     Section 2.09. Fees.

     (a) The Borrower agrees to pay to the Agent for the account of each Lender a commitment
fee, that shall accrue at the Applicable Rate on the daily amount of the unused Commitment
of such Lender during the period from and including the date of this Agreement, to but
excluding the date on which such Commitment terminates.

     (b) Accrued commitment fees of a Lender shall be payable in arrears on the last
Business Day of March, June, September and December of each year, and on the Maturity Date
applicable to such Lender’s Commitment, commencing on the first such date to occur after the
date hereof; provided, that (i) no commitment fee shall accrue on the Commitment of an
Affected Lender so long as such Lender shall be an Affected Lender and (ii) any commitment
fee accrued with respect to the Commitment of an Affected Lender during the period prior to
the time such Lender became an Affected Lender and unpaid at such time shall not be payable
by the Borrower so long as such Lender shall be an Affected Lender. All commitment fees
shall be computed on the basis of a year of 360 days and shall be payable for the actual number of days elapsed (including
the first day but excluding the last day).

     (c) The Borrower agrees to pay to the Agent, for its own account, fees payable in the
amounts and at the times separately agreed upon in writing between the Borrower and the
Agent.

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     (d) All fees payable hereunder shall be paid on the dates due, in immediately available
funds, to the Agent for distribution, in the case of commitment fees, to the Lenders. Fees
paid shall not be refundable under any circumstances absent error in the calculation or
payment thereof.

     Section 2.10. Interest.

     (a) The Loans comprising each Canadian Base Rate Borrowing shall bear interest at the
Canadian Base Rate plus the Applicable Rate.

     (b) The Loans comprising each Canadian Fixed Rate Borrowing shall bear interest at the
Canadian Fixed Rate for the Interest Period in effect for the Borrowing of which such Loan
is a part plus the Applicable Rate.

     (c) Notwithstanding the foregoing, if any principal of or interest on any Loan or any
fee or other amount payable by the Borrower hereunder is not paid when due, whether at
stated maturity, upon acceleration or otherwise, such overdue amount shall bear interest,
after as well as before judgment, at a rate per annum equal to (i) in the case of overdue
principal of any Loan, 2% plus the rate otherwise applicable to such Loan as provided in the
preceding subsections of this Section, or (ii) in the case of any other amount, 2% plus the
rate applicable to Canadian Base Rate Loans as provided in subsection (a) of this Section.

     (d) Accrued interest on each Loan shall be payable by the Borrower in arrears on each
Interest Payment Date for such Loan, and, in the case of Revolving Loans, upon termination
of the Commitments; provided that (i) interest accrued pursuant to subsection (c) of this
Section shall be payable on demand, (ii) in the event of any repayment or prepayment of any
Loan (other than a prepayment of a Canadian Base Rate Loan prior to the end of the
Availability Period), accrued interest on the principal amount repaid or prepaid shall be
payable on the date of such repayment or prepayment, and (iii) in the event of any
conversion of any Canadian Fixed Rate Loan prior to the end of the current Interest Period
therefor, accrued interest on such Loan shall be payable on the effective date of such
conversion.

     (e) All interest hereunder shall be computed on the basis of a year of 360 days, except
that interest computed by reference to the Canadian Base Rate shall be computed on the basis
of a year of 365 days (or 366 days in a leap year), and in each case shall be payable for
the actual number of days elapsed (including the first day but excluding the last day). The
applicable Canadian Base Rate or Canadian Fixed Rate shall be determined by the Agent, and such determination shall be conclusive absent manifest
error.

     (f) For purposes of disclosure pursuant to the Interest Act (Canada), the annual rates
of interest or fees to which the rates of interest or fees provided in this Agreement and
the other Loan Documents (and stated herein or therein, as applicable, to

27

 

be computed on the basis of a 360 day year or any other period of time less than a calendar year) are
equivalent, are the rates so determined multiplied by the actual number of days in the
applicable calendar year and divided by 360 or such other period of time, respectively.

     Section 2.11. Alternate Rate of Interest. If, prior to the commencement of any
Interest Period for a Canadian Fixed Rate Borrowing:

     (a) the Agent determines (which determination shall be conclusive absent manifest
error) that adequate and reasonable means do not exist for ascertaining the Canadian Fixed
Rate for such Interest Period; or

     (b) the Agent is advised by the Required Lenders that the Canadian Fixed Rate for such
Interest Period will not adequately and fairly reflect the cost to such Lenders of making or
maintaining their Loans included in such Borrowing for such Interest Period;

then the Agent shall give notice thereof to the Borrower and the Lenders by telephone or facsimile
as promptly as practicable thereafter and, until the Agent notifies the Borrower and the Lenders
that the circumstances giving rise to such notice no longer exist, (i) any Interest Election
Request that requests the conversion of any Borrowing to, or continuation of any Borrowing as, a
Canadian Fixed Rate Borrowing shall be ineffective, and (ii) if any Borrowing Request requests a
Canadian Fixed Rate Borrowing, such Borrowing shall be made as a Canadian Base Rate Borrowing.

     Section 2.12. Increased Costs. Subject to Section 2.16:

     (a) If any Change in Law shall:

     (i) impose, modify or deem applicable any reserve, special deposit or similar
requirement against assets of, deposits with or for the account of, or credit
extended by, any Lender (except any such reserve requirement reflected in the
Canadian Fixed Rate); or

     (ii) impose on any Lender or on the market for Canadian Dollar bankers’
acceptances any other condition, cost or expense, affecting this Agreement or Loans
made by such Lender;

and the result of any of the foregoing shall be to increase the cost to such Lender in an
amount that such Lender deems to be material of making or maintaining any Canadian Fixed
Rate 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 otherwise), other than any increase in costs resulting from (i) Excluded Taxes or (ii)
Indemnified Taxes to which Section 2.14 is applicable, then the Borrower will pay to such
Lender, as the case may be, such additional amount or

28

 

amounts as will compensate such Lender
for such additional costs incurred or reduction suffered.

     (b) If any Lender determines that any Change in Law 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 hereunder, the Loans made by or held 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 such additional amount or amounts as will compensate such Lender or such Lender’s holding company for any such reduction suffered.

     (c) 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
subsection (a) or (b) of this Section, and explaining in reasonable detail the method by
which such amount or amounts shall have been determined, shall be delivered to the Borrower
and shall be conclusive absent manifest error. The Borrower shall pay such Lender, as the
case may be, the amount shown as due on any such certificate within 10 days after receipt
thereof.

     (d) Failure or delay on the part of any Lender to demand compensation pursuant to this
Section 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 this
Section for any increased costs or reductions unless the Lender gives notice to the Borrower
to compensate such Lender pursuant to this Section within 180 days after the date such
Lender knows an event has occurred pursuant to which such Lender will seek such
compensation.

     (e) Notwithstanding the foregoing provisions of this Section, a Lender shall not be
entitled to compensation pursuant to this Section if it is not at the time the general
policy or practice of the Lender to demand compensation in similar circumstances in similar
credit agreements.

     Section 2.13. Break Funding Payments. In the event of (a) the payment of any
principal of any Canadian Fixed Rate Loan other than on the last day of an Interest Period
applicable thereto (including as a result of an Event of Default), (b) the conversion of any
Canadian Fixed Rate Loan other than on the last day of the Interest Period applicable thereto, (c) the failure to borrow, convert, continue or prepay
any Canadian Fixed Rate Loan on the date specified in any notice delivered pursuant hereto
(regardless of whether such notice may be revoked under Section 2.08(b) and is revoked in
accordance therewith), or (d) the assignment of any Canadian Fixed Rate Loan other than on the last
day of the Interest Period applicable thereto as a result of a request by the Borrower pursuant to
Section 2.16, then, in any such event, the Borrower shall compensate each Lender for the loss, cost
and expense attributable to such event. In the case of a Canadian Fixed Rate Loan, such loss, cost
or expense to any Lender shall be deemed to include

29

 

an amount determined by such Lender to be the
excess, if any, of (i) the amount of interest that would have accrued on the principal amount of
such Loan had such event not occurred, at the Canadian Fixed Rate that would have been applicable
to such Loan, for the period from the date of such event to the last day of the then current
Interest Period therefor (or, in the case of a failure to borrow, convert or continue, for the
period that would have been the Interest Period for such Loan), over (ii) the amount of interest
that would accrue on such principal amount for such period at the interest rate that such Lender
would bid were it to bid, at the commencement of such period, for Canadian Dollar deposits of a
comparable amount and period from other banks in the Canadian Dollar market. A certificate of any
Lender setting forth any amount or amounts that such Lender is entitled to receive pursuant to this
Section and explaining in reasonable detail the method by which such amount or amounts shall have
been determined shall be delivered to the Borrower and shall be conclusive absent manifest error.
The Borrower shall pay such Lender the amount shown as due on any such certificate within 10 days
after receipt thereof.

     Section 2.14. Taxes.

     (a) Any and all payments by or on account of any obligation of any Obligor hereunder
shall be made free and clear of and without deduction for any Indemnified Taxes; provided
that if any Obligor shall be required by applicable law to deduct any Indemnified 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) the 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 Obligors shall make such
deductions, and (iii) the Obligors shall pay the full amount deducted to the relevant
Governmental Authority in accordance with applicable law.

     (b) In addition, the Obligors shall pay any Other Taxes to the relevant Governmental
Authority in accordance with applicable law.

     (c) The Obligors shall indemnify the Agent and each Lender within 10 days after written
demand therefor, for the full amount of any Indemnified Taxes paid by the Agent or such
Lender, as the case may be, on or with respect to any payment by or on account of any
obligation of the Obligors hereunder (including Indemnified Taxes imposed or asserted on or
attributable to amounts payable under this Section) and any penalties, interest, additions
to tax and reasonable expenses arising therefrom or with respect thereto, whether or not
such Indemnified Taxes were correctly or legally imposed or asserted by the relevant
Governmental Authority. A certificate as to the amount of such payment or liability delivered to the Borrower by a Lender, or by the Agent on its own
behalf or on behalf of a Lender, shall be conclusive absent manifest error. Notwithstanding
the foregoing, the Obligors shall not be liable for the reimbursement of any interest,
penalties or expenses arising from the gross negligence or willful misconduct of the Agent
or any Lender (as determined by a final judgment of a court of competent jurisdiction) in
taking any action it was required to take including, but not limited to, filing any tax
return or report in a timely manner.

30

 

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

     (e) Any Lender that is entitled to an exemption from or reduction of withholding tax
under the law of the jurisdiction in which each Obligor is located, or any treaty to which
such jurisdiction is a party, with respect to payments under this Agreement shall deliver to
the Borrower (with a copy to the Agent), at the time or times prescribed by applicable law,
such properly completed and executed documentation, if any, as shall be prescribed by
applicable law or reasonably requested by the Borrower to permit such payments to be made
without withholding or at a reduced rate.

     (f) If the Agent or a Lender determines that it has received a refund of any Taxes or
Other Taxes as to which it has been indemnified by the Obligors, or with respect to which
the Obligors have paid additional amounts pursuant to this Section 2.14, it shall pay over
such refund to the Borrower or the Guarantor (but only to the extent of indemnity payments
made, or additional amounts paid, by the Borrower or the Guarantor under this Section 2.14
with respect to the Taxes or Other Taxes giving rise to such refund), net of all
out-of-pocket expenses of the Agent or such Lender and without interest (other than any
interest paid by the relevant Governmental Authority with respect to such refund); provided
that the Obligors, upon the request of the Agent or such Lender, agree to repay the amount
paid over to the Obligors (plus any penalties, interest or other charges imposed by the
relevant Governmental Authority) to the Agent or such Lender in the event the Agent or such
Lender is required to repay such refund to such Governmental Authority. This Section shall
not be construed to require the Agent or any Lender to make available its tax returns (or
any other information relating to its taxes which it deems confidential) to the Borrower,
the Guarantor or any other Person.

     Section 2.15. Payments Generally; Pro Rata Treatment; Sharing of Set-offs.

     (a) The Borrower shall make each payment required to be made by it hereunder (whether
of principal, interest or fees, or of amounts payable under Section 2.12, 2.13 or 2.14, or
otherwise) prior to 12:00 noon, New York City time, on the date when due, in immediately
available funds, without set-off or counterclaim. Any amounts received after such time on
any date may, in the discretion of the Agent, be deemed to have been received on the next succeeding Business Day for purposes of calculating interest
thereon. All such payments shall be made to the Agent’s Office except that payments
pursuant to Sections 2.12, 2.13, 2.14 and 10.03 shall be made directly to the Persons
entitled thereto. The Agent shall distribute any such payments received by it for the
account of any other Person to the appropriate recipient promptly following receipt thereof.
If any payment hereunder shall be due on a day that is not a Business Day, the date for
payment shall be extended to the next succeeding Business Day, and, in the case of any
payment accruing interest, interest thereon shall be payable for the period of such
extension. All payments under this Agreement shall be made in Canadian Dollars;

31

 

provided
that, with respect to any payments due to the Agent pursuant to Section 10.03, the Agent may
choose to have those payments be made in Dollars.

     (b) If at any time insufficient funds are received by and available to the Agent to pay
fully all amounts of principal, interest and fees then due hereunder, such funds shall be
applied (i) first, towards payment of interest and fees then due hereunder, ratably among
the parties entitled thereto in accordance with the amounts of interest and fees then due to
such parties, and (ii) second, towards payment of principal then due hereunder, ratably
among the parties entitled thereto in accordance with the amounts of principal then due to
such parties.

     (c) If any Lender shall, by exercising any right of set-off or counterclaim or
otherwise, obtain payment in respect of any principal of or interest on any of its Loans
resulting in such Lender receiving payment of a greater proportion of the aggregate amount
of its Loans and accrued interest thereon than the proportion received by any other Lender,
then the Lender receiving such greater proportion shall purchase (for cash at face value)
participations in the Loans of other Lenders to the extent necessary 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; 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 subsection
shall not be construed to apply to any payment made by the Borrower pursuant to and in
accordance with the express terms of this Agreement or 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 or Affiliate thereof
(as to which the provisions of this subsection 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 set-off 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.

     (d) Unless the Agent shall have received notice from the Borrower prior to the date on
which any payment is due to the Agent for the account of the Lenders hereunder that the
Borrower will not make such payment, the 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, as the case may be, the amount due. In such
event, if the Borrower has not in fact made such payment, then each of the Lenders, as the
case may be, severally agrees to repay to the Agent forthwith on demand the amount so
distributed to such Lender 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 Agent, at the
greater of the Federal Funds Effective Rate and a rate determined by the Agent in accordance
with banking industry rules on interbank compensation.

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     (e) To the extent that the Agent receives any payments or other amounts for the account
of an Affected Lender, at the discretion of the Agent, such Affected Lender shall be deemed
to have requested that the Agent use such payment or other amount to fulfill its obligations
to make Revolving Loans and to make any payment required to be made by it pursuant to
Section 2.04(b) or 2.15(d).

     (f) Notwithstanding anything in this Agreement to the contrary, at the sole discretion
of the Agent, in order to pay Borrowings that were not advanced pro rata by the Lenders, any
payment of any Borrowing may first be applied to such Borrowings that were not advanced pro
rata.

     Section 2.16. Mitigation Obligations; Replacement of Lenders.

     (a) If any Lender requests compensation under Section 2.12, or if either Obligor is
required to pay any additional amount to any Lender or any Governmental Authority for the
account of any Lender pursuant to Section 2.14, then 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 2.12 or 2.14, as the case may be, in
the future, and (ii) 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) If (i) any Lender requests compensation under Section 2.12, (ii) the Borrower is
required to pay any additional amount to any Lender or any Governmental Authority for the
account of any Lender pursuant to Section 2.14, (iii) any Lender is an Affected Lender, or
(iv) in connection with any proposed amendment, modification, waiver or consent, the consent
of the Required Lenders has been obtained but the consent of a Lender whose consent is
required shall not have been obtained, then the Borrower may, at its sole expense and
effort, upon notice to such Lender and the Agent, require such Lender to assign and
delegate, without recourse (in accordance with and subject to the restrictions contained in
Section 9.04), all its interests, rights and obligations under this Agreement to an assignee
that shall assume such obligations (which assignee may be another Lender, if a Lender
accepts such assignment); provided that (x) the Borrower shall have received the prior
written consent of the Agent, which consent shall not unreasonably be withheld or delayed, (y) 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, 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), and (z) in the case of any such assignment resulting from a claim for
compensation under Section 2.12 or payments required to be made pursuant to Section 2.14,
such assignment will result in a reduction in such compensation or payments. A Lender shall
not be required to make any such assignment and delegation if, prior thereto,

33

 

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.

ARTICLE III. REPRESENTATIONS AND WARRANTIES

     The Borrower (as to itself) and the Guarantor (as to itself and its Subsidiaries) represent
and warrant to the Lenders that:

     Section 3.01. Organization; Powers. Each Obligor is duly organized, validly existing
and in good standing (or the equivalent) under the laws of the jurisdiction of its organization,
has all requisite power and authority to carry on its business as now conducted and is qualified to
do business in, and is in good standing in, every jurisdiction where such qualification is
required, except where the failure to do so, individually or in the aggregate, could not reasonably
be expected to result in a Material Adverse Effect.

     Section 3.02. Authorization; Enforceability. The Transactions are within each
Obligor’s corporate or other organizational powers and have been duly authorized by all necessary
corporate or other organizational action. This Agreement has been duly executed and delivered by
each Obligor and constitutes a legal, valid and binding obligation of each Obligor, enforceable in
accordance with its terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium
or other laws affecting creditors’ rights generally and subject to general principles of equity,
regardless of whether considered in a proceeding in equity or at law.

     Section 3.03. Governmental Approvals; No Conflicts. The Transactions (a) do not
require any consent or approval of, registration or filing with, or any other action by, any
Governmental Authority, except such as have been obtained or made and are in full force and effect,
(b) will not violate any applicable law or regulation or the charter, by-laws or other
organizational documents of each Obligor or any order of any Governmental Authority, (c) will not
result in a material violation of or default under any indenture or other material agreement or
instrument binding upon the Guarantor or any of its Subsidiaries or their assets, or give rise to a
right thereunder to require any payment to be made by the Guarantor or any of its Subsidiaries, and
(d) will not result in the creation or imposition of any material Liens on any material assets of
the Guarantor or any of its Subsidiaries.

     Section 3.04. Financial Condition; No Material Adverse Change.

     (a) The Guarantor has heretofore furnished to the Lenders (i) its audited consolidated
balance sheet and statements of consolidated income, stockholders’ equity and comprehensive
income and cash flows as of and for the fiscal year ended December 31, 2009, reported on by
the independent registered public accounting firm, and (ii) its unaudited consolidated
balance sheet and statements of consolidated income and cash flows as of and for the fiscal
quarter ended March 31, 2010, certified by a Financial Officer of the Guarantor. Such
consolidated financial statements present fairly, in all material respects, the financial
position and results of operations and cash flows of the Guarantor and its consolidated
Subsidiaries as of such dates and for such periods in

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accordance with GAAP, subject to the absence of footnotes in the case of the statements referred to in subpart (ii) above.

     (b) As of the Effective Date, since December 31, 2009, there has been no Material
Adverse Effect and there has been no event or circumstance that could reasonably be expected
to result in a Material Adverse Effect.

     Section 3.05. Properties.

     (a) The Guarantor and each Material Subsidiary has good title to, or valid leasehold
interests in, all real and personal property necessary or used in the ordinary conduct of
its business, except for such defects in title or interests as would not, individually or in
aggregate, reasonably be expected to result in a Material Adverse Effect.

     (b) The Guarantor and each Subsidiary owns, or is licensed to use, all trademarks,
tradenames, copyrights, patents and other intellectual property material to its business,
except where the failure so to own, or so to be licensed, could not reasonably be expected
to have a Material Adverse Effect, and to the knowledge of any Financial Officer of the
Guarantor or the Borrower after due inquiry, the use thereof by the Guarantor and its
Subsidiaries does not infringe upon the rights of any other Person, except for any such
infringements that, individually or in the aggregate, could not reasonably be expected to
result in a Material Adverse Effect.

     Section 3.06. Litigation and Environmental Matters.

     (a) Except as disclosed in the Guarantor’s periodic reports filed prior to the date
hereof under the Securities Exchange Act of 1934, there are no actions, suits or proceedings
by or before any arbitrator or Governmental Authority pending against or, to the knowledge
of any Financial Officer of the Guarantor or the Borrower after due inquiry, threatened
against the Guarantor or any of its Subsidiaries (i) that could reasonably be expected to be
adversely determined and that, if adversely determined, could reasonably be expected to result in a Material Adverse Effect, or (ii) that involve
this Agreement or the Transactions.

     (b) Except as disclosed in the Guarantor’s periodic reports filed prior to the date
hereof under the Securities Exchange Act of 1934, and except with respect to any other
matters that, individually or in the aggregate, could not reasonably be expected to result
in a Material Adverse Effect, neither the Guarantor nor any of its Material Subsidiaries (i)
has failed to comply with any Environmental Law or to obtain, maintain or comply with any
permit, license or other approval required under any Environmental Law, (ii) has become
subject to any Environmental Liability, (iii) has received written notice of any claim with
respect to any Environmental Liability, or (iv) knows of any basis for any Environmental
Liability.

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     Section 3.07. Compliance with Laws and Agreements. The Guarantor and each Material
Subsidiary is in compliance with all laws, regulations and orders of any Governmental Authority
applicable to it or its property, except where such compliance is being contested in good faith
through appropriate proceedings or except where the failure, individually or in the aggregate,
could not reasonably be expected to result in a Material Adverse Effect. Neither the Guarantor nor
any of its Material Subsidiaries is in default with respect to any of its material obligations
under any indenture, agreement or other instrument binding upon it or its property which,
individually or in the aggregate, could reasonably be expected to result in a Material Adverse
Effect.

     Section 3.08. Federal Reserve Regulations.

     (a) Neither the Guarantor nor any of its Subsidiaries is engaged principally, or as one
of its important activities, in the business of extending credit for the purpose of
purchasing or carrying Margin Stock.

     (b) No part of the proceeds of the Loans has been or will be used, whether directly or
indirectly, and whether immediately, incidentally or ultimately, for any purpose that
entails a violation of the provisions of the Regulations of the Board, including, without
limitation, Regulation U or Regulation X thereof. Not more than 25% of the assets subject
to the restrictions of Section 6.01, valued in accordance with Regulation U, will at any
time consist of Margin Stock.

     Section 3.09. Investment Company Status. Neither the Guarantor nor any of its
Subsidiaries is an “investment company” as defined in, or subject to regulation under, the
Investment Company Act of 1940.

     Section 3.10. Taxes. The Guarantor and each Subsidiary has timely filed or caused to
be filed, or received an extension of the time to file, all tax returns and reports required to
have been filed, and has paid or caused to be paid all Taxes required to have been paid by it,
except (a) Taxes that are being contested in good faith by appropriate proceedings and for which
the Guarantor or such Subsidiary, as applicable, has set aside on its books adequate reserves to the extent required to do so in accordance with GAAP, or
(b) to the extent that the failure to do so could not reasonably be expected to result in a
Material Adverse Effect.

     Section 3.11. ERISA. No ERISA Event has occurred or is reasonably expected to occur
that, when taken together with all other ERISA Events, could reasonably be expected to result in a
Material Adverse Effect. The Guarantor and its Subsidiaries have not incurred any material
accumulated funding deficiency within the meaning of ERISA. As used in this Section, “material”
means the measure of a matter of significance that shall be determined as being an amount equal to
10% of Consolidated Net Worth.

     Section 3.12. Disclosure. No written reports, financial statements, certificates or
other written information furnished or to be furnished by each Obligor to the Agent or any Lender
in connection with the negotiation of this Agreement or delivered or to be delivered hereunder (as
modified or supplemented by other information so furnished) by each Obligor contains or will

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contain any material misstatement of fact or omits or will omit to state any material fact
necessary to make the statements therein, in the light of the circumstances under which they were
made, not misleading; provided that, with respect to any projected financial information, each
Obligor represents only that such information was prepared in good faith based upon assumptions
believed to be reasonable at the time.

ARTICLE IV. CONDITIONS

     Section 4.01. Effective Date. The obligations of the Lenders to make Loans hereunder
shall not become effective until the date on which each of the following conditions is satisfied:

     (a) The Agent (or its counsel) shall have received from each party hereto a counterpart
of this Agreement signed on behalf of such party.

     (b) The Borrower shall have executed and delivered to each Lender requesting a
Revolving Note such Lender’s Revolving Note.

     (c) The Agent shall have received favorable written opinions (addressed to the Agent
and the Lenders and dated the Effective Date) of (i) L.E. Stellato, Senior Vice President,
General Counsel and Secretary of the Guarantor, (ii) Jones Day relating to the Borrower, the
Guarantor, this Agreement and the Transactions, and (iii) Davies Ward Phillips & Vineberg
LLP, Canadian counsel to the Borrower, in each case in form and substance reasonably
satisfactory to the Agent and its counsel.

     (d) The Agent shall have received such documents and certificates as the Agent or its
counsel may reasonably request relating to the organization, existence and good standing (or
equivalent) of each Obligor, the authorization of the Transactions and any other legal matters relating to each Obligor, this Agreement or the Transactions, all in
form and substance reasonably satisfactory to the Agent and its counsel.

     (e) The Agent shall have received a certificate, dated the Effective Date and signed by
the President, a Vice President or a Financial Officer of each Obligor, confirming (i) the
representations and warranties of each Obligor set forth in this Agreement shall be true and
correct in all material respects on and as of the Effective Date, and (ii) no Default shall
have occurred and be continuing both prior to and immediately after giving effect to such
Loans.

     (f) With respect to property or assets (i) owned or leased by the Borrower, the
Borrower shall have caused to be delivered to the Agent the results of searches,
satisfactory to Agent, conducted under the Personal Property Security Act, the Execution
Acts, the Bank Act (Canada), and the Bankruptcy and Insolvency Act (Canada), in each case
conducted in, as applicable, each jurisdiction in which the Borrower maintains any material
amount of property or assets, the jurisdiction of its chief executive office and the
jurisdiction of its principal place of business, and (ii) owned or leased by the Guarantor,
the Borrower shall have caused to be delivered to the Agent (A) the results of Uniform

37

 

Commercial Code lien searches, satisfactory to the Agent, and (B) the results of federal and
state tax lien and judicial lien searches, satisfactory to the Agent.

     (g) The Borrower shall have (i) executed and delivered to the Agent, the Agent Fee
Letter and paid to, or caused to be paid to, Agent, for its sole account, the fees stated
therein, (ii) executed and delivered to the Agent, the Closing Fee Letter and paid to, or
caused to be paid to, the Agent, for the benefit of the Lenders, the fees stated therein,
and (iii) paid, or caused to be paid, all other fees and other amounts due and payable on or
prior to the Effective Date, including, to the extent invoiced to the Guarantor at least two
days prior to the Effective Date, reimbursement or payment of all out-of-pocket expenses
required to be reimbursed or paid by each Obligor hereunder.

     Section 4.02. Each Credit Event. The obligation of each Lender to make a Loan on the
occasion of each Borrowing is subject to the satisfaction of the following conditions:

     (a) The representations and warranties of the Obligors set forth in this Agreement
(other than those set forth in Sections 3.04(b) and 3.06) shall be true and correct in all
material respects on and as of the date of such Loan.

     (b) At the time of and immediately after giving effect to such Loan, no Default shall
have occurred and be continuing.

Each Borrowing shall be deemed to constitute a representation and warranty by the Obligors on the
date thereof as to the matters specified in subsections (a) and (b) of this Section.

ARTICLE V. AFFIRMATIVE COVENANTS

     Until the Commitments have expired or been terminated and the principal of and interest on
each Loan and all fees payable hereunder shall have been paid in full (other than contingent
indemnity obligations), each Obligor covenants and agrees with the Lenders that:

     Section 5.01. Financial Statements; Ratings Change and Other Information. The
Guarantor will furnish to the Agent and each Lender:

     (a) within 90 days after the end of each fiscal year of the Guarantor, its audited
consolidated balance sheet and statements of consolidated income, stockholders’ equity and
comprehensive income and cash flows as of the end of and for such year, setting forth in
each case in comparative form the figures for the previous fiscal year, all reported on by
the independent registered public accounting firm (without a “going concern” or like
qualification or exception and without any qualification or exception as to the scope of
such audit) to the effect that such consolidated financial statements present fairly, in all
material respects, the consolidated financial position and consolidated results of
operations and cash flows of the Guarantor and the consolidated Subsidiaries on a
consolidated basis in conformity with GAAP;

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     (b) within 45 days after the end of each of the first three fiscal quarters of each
fiscal year of the Guarantor, its unaudited consolidated balance sheet and statements of
income and cash flows as of the end of and for such fiscal quarter and the then elapsed
portion of the fiscal year, setting forth in each case in comparative form the figures for
the corresponding period or periods of (or, in the case of the balance sheet, as of the end
of) the previous fiscal year, all certified by one of its Financial Officers as presenting
fairly in all material respects the financial condition and results of operations and cash
flows of the Guarantor and its consolidated Subsidiaries on a consolidated basis in
accordance with GAAP, subject to the absence of footnotes;

     (c) concurrently with any delivery of financial statements under subsection (a) or (b)
above, a certificate of a Financial Officer of the Guarantor (i) certifying as to whether a
Default has occurred and, if a Default has occurred, specifying the details thereof and any
action taken or proposed to be taken with respect thereto, and (ii) setting forth reasonably
detailed calculations demonstrating compliance with Section 6.03;

     (d) promptly after the same become publicly available, copies of all reports on Forms
10-K, 10-Q and 8-K (or any substitute or successor forms) filed by the Guarantor with the
Securities and Exchange Commission, or any Governmental Authority succeeding to any or all
of the functions of said Commission, or distributed by the Borrower to its shareholders
generally, as the case may be;

     (e) promptly after S&P, Moody’s or Fitch shall have announced a change in the rating
established or deemed to have been established for the Index Debt, written notice of such
rating change;

     (f) promptly following a request therefor, all documentation and other information that
any Lender reasonably requests as necessary in order for it to comply with its ongoing
obligations under applicable “know your customer” and anti-money laundering rules and
regulations, including the USA Patriot Act; and

     (g) promptly following any request therefor, such other information regarding the
operations, business affairs and financial condition of the Guarantor or any Material
Subsidiary, or compliance with the terms of this Agreement, as the Agent or any Lender may
reasonably request.

Information required to be delivered pursuant to this Section shall be deemed to have been
delivered if such information, or one or more annual or quarterly reports containing such
information, shall have been posted by the Agent on an IntraLinks or similar site to which the
Lenders have been granted access or shall be available on the website of the Securities and
Exchange Commission at http://www.sec.gov and, in either case, a confirming electronic
correspondence shall have been delivered or caused to be delivered to the Lenders providing notice
of such posting or availability; provided that the Guarantor shall deliver paper copies of such
information to any Lender that requests such delivery. Information required to be delivered
pursuant to this Section may also be delivered by electronic communications pursuant to procedures
approved by the Agent.

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     Section 5.02. Notices of Material Events. Each Obligor will furnish to the Agent and
each Lender written notice of the following promptly after any Financial Officer of such Obligor
becomes aware thereof:

     (a) the occurrence of any Default;

     (b) the filing or commencement of any action, suit or proceeding by or before any
arbitrator or Governmental Authority against or affecting the Guarantor or any Subsidiary
that could reasonably be expected to be adversely determined and, if adversely determined,
to result in a Material Adverse Effect; and

     (c) the occurrence of any ERISA Event that, alone or together with any other ERISA
Events that have occurred, could reasonably be expected to result in liability of the
Guarantor or any Subsidiary in an aggregate amount exceeding $50,000,000.

Each notice delivered under this Section shall be accompanied by a statement of a Financial Officer
or other executive officer of the applicable Obligor setting forth the details of the event or
development requiring such notice and any action taken or proposed to be taken with respect
thereto.

     Section 5.03. Existence; Conduct of Business. The Guarantor will, and will cause
each of the Material Subsidiaries to, do or cause to be done all things necessary to preserve,
renew and keep in full force and effect its legal existence and the rights, licenses, permits,
privileges and franchises material to the conduct of its business, except where the failure to do
so could not reasonably be expected to have a Material Adverse Effect; provided that the foregoing
shall not prohibit any merger or consolidation of the Borrower or the Guarantor permitted under
Section 6.02, or any merger, consolidation, liquidation or dissolution of a Subsidiary that is not
otherwise prohibited by the terms of this Agreement.

     Section 5.04. Payment of Obligations. The Guarantor will, and will cause each of the
Material Subsidiaries to, pay its obligations, including liabilities for Taxes, 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 (a) the validity or amount thereof is being contested in
good faith by appropriate proceedings, (b) the Guarantor or such Subsidiary has set aside on its
books adequate reserves with respect thereto in accordance with GAAP, and (c) the failure to make
payment pending such contest could not reasonably be expected to result in a Material Adverse
Effect.

     Section 5.05. Maintenance of Properties; Insurance. The Guarantor will, and will
cause each of the Material Subsidiaries to, (a) keep and maintain all property material to the
conduct of its business in good working order and condition, ordinary wear and tear excepted,
except where the failure to do so could not reasonably be expected to have a Material Adverse
Effect, and (b) maintain, with financially sound and reputable insurance companies, insurance or
maintain a self-insurance program in such amounts and against such risks as are customarily
maintained by companies of similar size and financial strength engaged in the same or similar
businesses

40

 

operating in the same or similar locations (including without limitation by the
maintenance of adequate self-insurance reserves to the extent customary among such companies).

     Section 5.06. Books and Records; Inspection Rights. The Guarantor will, and will
cause each of the Material Subsidiaries to, keep proper books of record and account in which full,
true and correct entries are made of all dealings and transactions in relation to its business and
activities. The Guarantor will, and will cause each of the Material Subsidiaries to, permit any
representatives designated by the Agent or any Lender, at their own expense if an Event of Default
has not occurred and is continuing, upon reasonable prior notice, to visit and inspect its
properties, to examine and make extracts from its books and records, and to discuss its affairs,
finances and condition with its officers, all at such reasonable times and as often as reasonably
requested.

     Section 5.07. Compliance with Laws. The Guarantor will, and will cause each of the
Material Subsidiaries to, comply with all laws, rules, regulations and orders of any Governmental
Authority applicable to it or its property, except where the failure to do so, individually and in
the aggregate, could not reasonably be expected to result in a Material Adverse Effect.

     Section 5.08. Use of Proceeds. The proceeds of the Loans will be used for the
purposes referred to in the preamble to this Agreement.

ARTICLE VI. NEGATIVE COVENANTS

     Until the Commitments have expired or terminated and the principal of and interest on each
Loan and all fees payable hereunder have been paid in full (other than contingent indemnity
obligations), each Obligor covenants and agrees with the Lenders that:

     Section 6.01. Liens. The Guarantor will not, and will not permit any Subsidiary to,
create, incur, assume or permit to exist any Lien on any property or asset now owned or hereafter
acquired by it, or assign or sell any income or revenues (including accounts receivable) or rights
in respect of any thereof, except:

     (a) any Lien on any property or asset of the Guarantor or any Subsidiary existing on
the date hereof; provided that (i) such Lien shall not apply to any other property or asset
of the Guarantor or any Subsidiary, and (ii) such Lien shall secure only those obligations
that it secures on the date hereof, and extensions, renewals and replacements thereof that
do not increase the outstanding principal amount thereof that is secured by such Lien as of
the date hereof;

     (b) Permitted Encumbrances;

     (c) any Lien existing on any property or asset prior to the acquisition thereof by the
Guarantor or any Subsidiary, or existing on any property or asset of any Person that becomes
a Subsidiary after the date hereof prior to the time such Person becomes a Subsidiary;
provided that (i) such Lien is not created in contemplation of or in connection

41

 

with such acquisition or such Person becoming a Subsidiary, as the case may be, (ii) such Lien shall
not apply to any other property or assets of the Guarantor or any Subsidiary, and (iii) such
Lien shall secure only those obligations that it secures on the date of such acquisition, or
the date such Person becomes a Subsidiary, as the case may be, and extensions, renewals and
replacements thereof that do not increase the outstanding principal amount thereof that is
secured by such Lien as of such date;

     (d) any Lien on real property or fixed or capital assets acquired, constructed or
improved by the Guarantor or any Subsidiary, and extensions, renewals and replacements
thereof that do not increase the outstanding principal amount thereof that is secured by
such Lien; provided that (i) such Lien and the Indebtedness secured thereby are incurred
prior to or within one year after such acquisition or the completion of such construction or
improvement, (ii) the Indebtedness secured thereby is incurred to pay, and does not exceed,
the cost of acquiring, constructing or improving such fixed or capital assets, and (iii)
such Lien shall not apply to any other property or assets of the Guarantor or any
Subsidiary;

     (e) any Lien on property or assets of the Guarantor or any Subsidiary in favor of the
Guarantor or any Subsidiary;

     (f) Securitization Transactions (and Liens deemed to exist in connection therewith) in
an aggregate amount not to exceed $300,000,000;

     (g) Liens arising from any synthetic lease transaction pursuant to which the Guarantor
or any Subsidiary is a lessee;

     (h) Liens on or pledges of cash or cash equivalents securing the obligations of the
Guarantor or any Subsidiary under or in connection with any Hedging Agreement, so long as
the aggregate amount of all cash or cash equivalents subject to such Liens or pledges does
not exceed $25,000,000 at any time;

     (i) Liens created, assumed or existing in connection with financings the interest
payable in respect of which is exempt from federal income taxation under Section 103 of the
Code or any successor provision;

     (j) any Lien arising out of the refinancing, extension, renewal or refunding of
Indebtedness secured by any Lien permitted by any of the foregoing subsections, provided
that (i) such Indebtedness is not secured by any additional assets unless such additional
Liens are otherwise permitted pursuant to this Section, and (ii) the amount of such
Indebtedness secured by such Lien is not increased (it being agreed that any such
refinancing, extension, renewal or refunding of Indebtedness incurred under a basket
expressed as a dollar amount in any of the foregoing subparts of this Section will be
applied against and reduce the amount available under such basket); and

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     (k) in addition to the Liens permitted pursuant to any of the foregoing subsections,
other Liens securing, in the aggregate, Indebtedness in an amount not greater than 20% of
Consolidated Net Worth at any time.

     Section 6.02. Fundamental Changes. Each Obligor agrees that it will not merge into
or consolidate with any other Person, or permit any other Person to merge into or consolidate with
it, or sell, transfer, lease or otherwise dispose of (in one transaction or in a series of
transactions and including by means of any merger or sale of capital stock or otherwise) all or
substantially all of its assets (whether now owned or hereafter acquired), or liquidate or
dissolve, except that, if at the time thereof and immediately after giving effect thereto, no
Default shall have occurred and be continuing, any Person (other than an Obligor) may merge with or
into or consolidate with each Obligor if (i) the applicable Obligor is the surviving Person, and
(ii) after giving effect to such transaction no Default shall exist.

     Section 6.03. Leverage Ratio. The Guarantor will not permit the Leverage Ratio at
any time to exceed 3.00 to 1.00.

ARTICLE VII. EVENTS OF DEFAULT

     If any of the following events (each an “Event of Default”) shall occur:

     (a) 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;

     (b) 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 subsection (a) of this Article) 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 Business Days;

     (c) any representation or warranty made or deemed made by or on behalf of the
Guarantor, the Borrower or any Subsidiary in or in connection with this Agreement or any
amendment or modification hereof or waiver hereunder, or in any report, certificate,
financial statement or other document furnished pursuant to or in connection with this
Agreement or any amendment or modification hereof or waiver hereunder, shall prove to have
been incorrect in any material respect when made or deemed made;

     (d) any Obligor shall fail to observe or perform any covenant, condition or agreement
contained in Section 5.02 or 5.03 (but only with respect to such Obligor’s existence) or in
Article VI;

     (e) any Obligor shall fail to observe or perform any covenant, condition or agreement
contained in this Agreement (other than those specified in subsection (a), (b) or (d) of
this Article), and such failure shall continue unremedied for a period of 30 days

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after written notice thereof from the Agent to the Obligors (which notice will be given at the
request of any Lender);

     (f) the Guarantor or any Subsidiary shall fail to make any payment (whether of
principal or interest and regardless of amount) in respect of any Material Indebtedness,
when and as the same shall become due and payable (subject to any applicable grace period);

     (g) any event or condition occurs and, while continuing, results in any Material
Indebtedness becoming due prior to its scheduled maturity or that enables or permits
(subject to any applicable grace period) the holder or holders of any Material Indebtedness
or any trustee or agent on its or their behalf to cause any Material Indebtedness to become
due, or to require the prepayment, repurchase, redemption or defeasance thereof, prior to
its scheduled maturity; provided that this subsection (g) shall not apply to secured
Indebtedness that becomes due as a result of the voluntary sale or transfer of the property
or assets securing such Indebtedness or to Capital Lease Obligations that terminate as a result of the voluntary sale or transfer of or a casualty or
condemnation affecting the property or assets subject thereto;

     (h) an involuntary proceeding shall be commenced or an involuntary petition shall be
filed seeking (i) liquidation, reorganization or other relief in respect of the Guarantor or
any Material Subsidiary, or its debts, or of a substantial part of its assets, under any
federal, state or foreign bankruptcy, insolvency, receivership or similar law now or
hereafter in effect, or (ii) the appointment of a receiver, interim receiver, receiver and
manager, trustee, custodian, sequestrator, conservator or similar official for the Guarantor
or any Material Subsidiary or for a substantial part of its assets, and, in any such case,
such proceeding or petition shall continue undismissed for 60 days or an order or decree
approving or ordering any of the foregoing shall be entered;

     (i) the Guarantor or any Material Subsidiary shall (i) voluntarily commence any
proceeding or file any petition seeking liquidation, reorganization or other relief under
any federal, state or foreign bankruptcy, insolvency, receivership or similar law now or
hereafter in effect, (ii) consent to the institution of, or fail to contest in a timely and
appropriate manner, any proceeding or petition described in subsection (h) of this Article,
(iii) apply for or consent to the appointment of a receiver, interim receiver, receiver and
manager, trustee, custodian, sequestrator, conservator or similar official for the Guarantor
or any Material Subsidiary or for a substantial part of its assets, (iv) file an answer
admitting the material allegations of a petition filed against it in any such proceeding,
(v) make a general assignment for the benefit of creditors, or (vi) take any action for the
purpose of effecting any of the foregoing;

     (j) the Guarantor or any Material Subsidiary shall become unable, admit in writing its
inability or fail generally to pay its debts as they become due;

     (k) one or more judgments for the payment of money in an aggregate amount in excess of
$75,000,000 and not covered by insurance shall be rendered against the

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Guarantor, any Subsidiary or any combination thereof and the same shall remain undischarged for a period of
60 consecutive days during which execution shall not be effectively stayed, vacated or
bonded pending appeal, or any action shall be legally taken by a judgment creditor to attach
or levy upon material assets of the Guarantor or any Subsidiary to enforce one or more
judgments for the payment of money in an aggregate amount in excess of $75,000,000;

     (l) an ERISA Event shall have occurred that, when taken together with all other ERISA
Events that have occurred, could reasonably be expected to result in a Material Adverse
Effect; or

     (m) a Change in Control shall have occurred;

then, and in every such event (other than an event with respect to an Obligor described in
subsection (h) or (i) of this Article), and at any time thereafter during the continuance of
such event, the Agent may, and at the request of the Required Lenders shall, by written notice to the Borrower, take either or both of the following actions, at the same or
different times: (i) terminate the Commitments, and thereupon the Commitments shall
terminate immediately, and (ii) declare the Loans then outstanding to be due and payable in
whole (or in part, in which case any principal not so declared to be due and payable may
thereafter be declared to be due and payable), and thereupon the principal of the Loans so
declared to be due and payable, together with accrued interest thereon and all fees and
other obligations of the Borrower accrued hereunder, shall become due and payable
immediately, without presentment, demand, protest or other notice of any kind, all of which
are hereby waived by the Borrower; and in the case of any event with respect to an Obligor
described in subsection (h) or (i) of this Article, the Commitments shall automatically
terminate and the principal of the Loans then outstanding, together with accrued interest
thereon and all fees and other obligations of the Borrower accrued hereunder, shall
automatically become due and payable, without presentment, demand, protest or other notice
of any kind, all of which are hereby waived by the Borrower.

ARTICLE VIII. THE AGENT

     Section 8.01. Appointment and Authorization. Each of the Lenders hereby irrevocably
appoints the Agent as its agent and authorizes the Agent to take such actions on its behalf and to
exercise such powers as are delegated to the Agent by the terms hereof, together with such actions
and powers as are reasonably incidental thereto. Except with respect to the consent rights of the
Borrower relating to a successor agent as set forth below, the provisions of this Article are
solely for the benefit of the Agent and the Lenders, and the Borrower shall not have rights as a
third party beneficiary of any of such provisions.

     Section 8.02. The Agent and Affiliates. The bank serving as the Agent hereunder
shall have the same rights and powers in its capacity as a Lender as any other Lender and may
exercise the same as though it were not the Agent, and such bank and its Affiliates may accept

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deposits from, lend money to and generally engage in any kind of business with the Guarantor or any
Subsidiary or other Affiliate thereof as if it were not the Agent hereunder.

     Section 8.03. Action by the Agent; Knowledge or Notice of Default. The Agent shall
not have any duties or obligations except those expressly set forth herein. Without limiting the
generality of the foregoing, (a) the Agent shall not be subject to any fiduciary or other implied
duties, regardless of whether a Default has occurred and is continuing, (b) the Agent shall not
have any duty to take any discretionary action or exercise any discretionary powers, except
discretionary rights and powers expressly contemplated hereby that the Agent is required to
exercise in writing as directed by the Required Lenders (or such other number or percentage of the
Lenders as shall be necessary under the circumstances as provided in Section 10.02), and (c) except
as expressly set forth herein, the Agent shall not have any duty to disclose, and shall not be
liable for the failure to disclose, any information relating to the Guarantor or any of its
Subsidiaries that is communicated to or obtained by the bank serving as Agent or any of its
Affiliates in any capacity. The Agent shall not be liable for any action taken or not taken by it with the consent
or at the request of the Required Lenders (or such other number or percentage of the Lenders as
shall be necessary under the circumstances as provided in Section 10.02) or in the absence of its
own gross negligence or willful misconduct, as determined by a final judgment of a court of
competent jurisdiction.. The Agent shall be deemed not to have knowledge of any Default unless and
until written notice thereof is given to the Agent by any Obligor or a Lender (which notice shall
state that the notice is a “Notice of Default” under Article VIII of this Agreement), and the Agent
shall not be responsible for or have any duty to ascertain or inquire into (i) any statement,
warranty or representation made in or in connection with this Agreement, (ii) the contents of any
certificate, report or other document delivered hereunder or in connection herewith, (iii) the
performance or observance of any of the covenants, agreements or other terms or conditions set
forth herein or the occurrence of any Default, (iv) the validity, enforceability, effectiveness or
genuineness of this Agreement 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 Agent.

     Section 8.04. Reliance by the Agent. The Agent 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 or sent by the proper Person. The Agent also may rely upon any statement made to it orally
or by telephone and believed by it to be 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 Agent may
presume that such condition is satisfactory to such Lender unless the Agent shall have received
notice to the contrary from such Lender prior to the making of such Loan. The Agent may consult
with legal counsel, 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 8.05. Delegation of Duties. The Agent may perform any and all its duties and
exercise its rights and powers by or through any one or more sub-agents appointed by the Agent.

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The Agent and any such sub-agent may perform any and all its duties and exercise its rights and
powers through their respective Related Parties. The exculpatory provisions of this Article shall
apply to any such sub-agent and to the Related Parties of the Agent 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 the Agent.

     Section 8.06. Successor Agent. The Agent may resign at any time by notifying the
Lenders and the Borrower. Upon any such resignation, the Required Lenders shall have the right,
with the consent of the Borrower so long as no Event of Default shall exist (which consent shall
not to be unreasonably withheld or delayed), to appoint a successor. If no successor shall have
been so appointed by the Required Lenders and shall have accepted such appointment within 30 days
after the retiring Agent gives notice of its resignation, then the retiring Agent may, on behalf of the Lenders, appoint, with the
consent of the Borrower, with the consent of the Borrower so long as no Event of Default shall
exist (which consent shall not to be unreasonably withheld or delayed), a successor Agent which
shall be a bank with an office in New York, New York, or an Affiliate of any such bank; provided
that if the 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 Agent shall be discharged from its duties and obligations hereunder and
(b) all payments, communications and determinations provided to be made by, to or through the Agent
shall instead be made by or to each Lender directly until such time as the Required Lenders
appoint, with the consent of the Borrower (not to be unreasonably withheld or delayed), a successor
Agent hereunder. Upon the acceptance of its appointment as the Agent hereunder by a successor,
such successor shall succeed to and become vested with all the rights, powers, privileges and
duties of the retiring Agent, and the retiring Agent shall be discharged from its duties and
obligations hereunder. The fees payable by the Borrower to a successor Agent shall be the same as
those payable to its predecessor unless otherwise agreed between the Borrower and such successor.
After the Agent’s resignation hereunder, the provisions of this Article and Section 10.03 shall
continue in effect for the benefit of such retiring 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 it was
acting as the Agent.

     Section 8.07. No Reliance on the Agent. Each Lender acknowledges that it has,
independently and without reliance upon the Agent or any other Lender, and based on such documents
and information as it has deemed appropriate, made its own credit analysis and decision to enter
into this Agreement. Each Lender also acknowledges that it will, independently and without
reliance upon the Agent or any other Lender, 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 related agreement or any document furnished
hereunder or thereunder.

     Section 8.08. Other Agents. The financial institutions identified on the cover page
of this Agreement or otherwise herein, or in any amendment hereof or other document related hereto,
as being a “Joint Lead Arranger”, “Syndication Agent” or “Bookrunner” (collectively, the “Other
Agents”) shall have no rights, powers, obligations, liabilities, responsibilities or duties under
this Agreement other than, in the case of a Lender, those applicable to all Lenders as such.

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Without limiting the foregoing, the Other Agents shall not have or be deemed to have any fiduciary
relationship with any Lender. Each Lender acknowledges that it has not relied, and will not rely,
on the Other Agents in deciding to enter into this Agreement or in taking or refraining from taking
any action hereunder or pursuant hereto.

ARTICLE IX. GUARANTY

     Section 9.01. Guaranty. The Guarantor hereby absolutely, irrevocably and
unconditionally guarantees to the Agent and each of the Lenders the full and prompt payment when
due (whether upon maturity, by acceleration or otherwise) of all Indebtedness of the Borrower hereunder to the Agent and each of the Lenders in
any form, including any and all credit extended and any other obligations owing by the Borrower to
the Lenders in connection with the Loans at any time outstanding during the term of this Agreement,
plus interest, fees, reimbursement obligations, indemnity obligations and other amounts owed by the
Borrower to the Agent and the Lenders hereunder (collectively, the “Guaranteed
Obligations”), in each case in accordance with the terms hereof.

     Section 9.02. Guaranty Absolute. The Guarantor guarantees that the Guaranteed
Obligations will be paid strictly in accordance with the terms of the Loan Documents, regardless of
any law, regulation or order now or hereafter in effect in any jurisdiction affecting any of such
terms or the rights of the Agent or the Lenders with respect thereto. The obligation of the
Guarantor hereunder shall be to make prompt payment to the Agent, for the benefit of the Lenders,
irrespective of any inability to convert any currency into the currency of payment of such
Guaranteed Obligations, irrespective of any inability to transfer funds in the currency of payment
of such Guaranteed Obligations to the place of payment therefor, it being the intent of this
paragraph that the Guaranteed Obligations shall be absolute and unconditional under any and all
circumstances. The obligations of the Guarantor under this Article IX are irrespective of the
value, genuineness, validity, regularity or enforceability of any of the Loan Documents, or any
other agreement or instrument referred to therein, or any substitution, release, impairment or
exchange of any other guarantee of or security for any of the Guaranteed Obligations, and, to the
fullest extent permitted by applicable law, irrespective of any other circumstance whatsoever that
might otherwise constitute a legal or equitable discharge or defense of a surety or guarantor
(other than payment in full of the Guaranteed Obligations), it being the intent of this Article IX
that the obligations of the Guarantor hereunder shall be absolute and unconditional under any and
all circumstances. This is a Guarantee of payment and not of collection and is intended to be and
shall be construed as a continuing guarantee. The liability of the Guarantor under this Article IX
constitutes a primary obligation, and not a contract of surety, and shall be irrevocable, absolute
and unconditional irrespective of, and the Guarantor hereby irrevocably waives any defenses it may
now or hereafter have in any way relating to, any or all of the following:

     (a) notice of the state of indebtedness of the Borrower under the Loans and assents to
the release, substitution or variation of any collateral or other guarantee which may at any
time be held as security for any Loans, all without relieving the Guarantor of any liability
under this Agreement;

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     (b) promptness, diligence, notice of acceptance of this Agreement and of any extension
of any loan or other financial accommodation by the Lenders to the Borrower;

     (c) presentment and demand for payment of any of the Guaranteed Obligations;

     (d) protest and notice of dishonor or default to the Guarantor or to any other party
with respect to any of the Guaranteed Obligations; and

     (e) all other notices to which the Guarantor might otherwise be entitled except as
specifically herein provided.

This Article IX shall continue to be effective or be reinstated, as the case may be, if at any time
any payment of the Guaranteed Obligation is rescinded or must otherwise be returned by the Agent or
the Lenders or any other Person upon the insolvency, bankruptcy or reorganization of the Borrower,
or any other Person, or otherwise, all as though such payment had not been made.

     Section 9.03. Payment of Guaranteed Obligations. In the event that any indebtedness
of the Borrower under this Agreement is not paid when due, the Guarantor will pay to the Lenders
the entire amount of the Borrower’s liability due hereunder (including interest charges to the date
of payment) on demand and the Lenders need not first proceed to preserve, utilize or exhaust any
other right or remedy against the Borrower or any other Person, or any security the Lenders or the
Agent may have to obtain payment. Such payment shall be made to the Agent at the place and in the
currency where and in which the indebtedness was incurred. The Guarantor authorizes the Lenders,
without notice to or demand on the Guarantor and without affecting the Guarantor’s liability
hereunder, from time to time to renew, extend, accelerate, compromise, settle, restructure,
refinance, refund or otherwise change the amount and time for payment of the Guaranteed
Obligations, or otherwise change the terms of the Guaranteed Obligations or any party thereof, by
agreement with the Borrower.

     Section 9.04. Waiver. Notwithstanding any other provision of this Agreement, until
payment in full of the Guaranteed Obligations (a) the Guarantor hereby irrevocably waives any right
to assert, enforce, or otherwise exercise any right of subrogation of any of the rights, security
interests, claims, or liens that the Lenders or the Agent have against the Borrower in respect of
the Guaranteed Obligations, (ii) the Guarantor shall have no right of recourse, reimbursement,
contribution, indemnification, or similar right that the Guarantor may have (by contract or
otherwise) against the Borrower in respect of the Guaranteed Obligations, and (iii) the Guarantor
hereby irrevocably waives any and all of the foregoing rights and also irrevocably waives the
benefit of, and any right to participate in, any collateral or other security given to the Lenders
or the Agent to secure the payment of such Guaranteed Obligations.

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ARTICLE X. MISCELLANEOUS

     Section 10.01. Notices.

     (a) Except in the case of notices and other communications expressly permitted to be
given by telephone (and subject to subsection (b) below), all notices and other
communications provided for herein shall be in writing and shall be delivered by hand or
overnight courier service, mailed by certified or registered mail, sent by facsimile or .pdf
via electronic mail (in each case of facsimile or electronic mail, with telephonic
confirmation of receipt), 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, the Guarantor, or the Agent, to the address, facsimile
number, electronic mail address or telephone number specified for such Person on
Schedule 10.01; and

     (ii) if to any other Lender, to it at its address (or facsimile number,
electronic address or telephone number) set forth in its Administrative
Questionnaire (a copy of each of which the Agent shall provide to the Borrower and
the Guarantor).

     (b) Notices and other communications to the Lenders hereunder may be delivered or
furnished by electronic communications pursuant to procedures approved by the Agent;
provided that the foregoing shall not apply to notices pursuant to Article II unless
otherwise agreed by the Agent and the applicable Lender. The 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.

     (c) Any party hereto may change its address or facsimile number for notices and other
communications hereunder by notice to the other parties hereto. All notices and other
communications given to any party hereto in accordance with the provisions of this Agreement
shall be deemed to be effective on the date of receipt.

     Section 10.02. Waivers; Amendments.

     (a) No failure or delay by the Agent or any Lender in exercising any right or power
hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any
such right or power, or any abandonment or discontinuance of steps to enforce such a right
or power, preclude any other or further exercise thereof or the exercise of any other right
or power. The rights and remedies of the Agent and the Lenders hereunder are cumulative and
are not exclusive of any rights or remedies that they would otherwise have. No waiver of
any provision of this Agreement or consent to any departure by the Guarantor or the Borrower
therefrom shall in any event be effective unless the same shall be permitted by subsection
(b) of this Section, and then such waiver or consent shall be

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effective only in the specific instance and for the purpose for which given. Without limiting the generality of the
foregoing, the making of a Loan shall not be construed as a waiver of any Default,
regardless of whether the Agent or any Lender may have had notice or knowledge of such
Default at the time.

     (b) Neither this Agreement nor any provision hereof may be waived, amended or modified
except pursuant to an agreement or agreements in writing entered into by each Obligor and
the Required Lenders or by each Obligor and the Agent with the consent of the Required
Lenders; provided that no such agreement shall (i) increase the Commitment of any Lender without the written consent of such Lender, (ii) reduce the
principal amount of any Loan or reduce the stated rate of interest thereon (provided that
the institution of post default interest and a subsequent removal of post default interest
shall not constitute a reduction in interest rate pursuant to this Section 10.02), or reduce
the stated rate of any commitment fees payable hereunder, without the written consent of
each Lender affected thereby, (iii) postpone the scheduled date of payment of the principal
amount of any Loan, or any interest thereon, or any commitment fees payable hereunder, or
reduce the amount of, waive or excuse any such payment, or postpone the scheduled date of
expiration of any Commitment, without the written consent of each Lender affected thereby,
(iv) change Section 2.15(b) or (c), or any other provision of this Agreement, in a manner
that would alter the pro rata sharing of payments required thereby, without the written
consent of each Lender, or (v) change any of the provisions of this Section or the
definition of “Required Lenders” or any other provision hereof specifying the number or
percentage of Lenders required to waive, amend or modify any rights hereunder or make any
determination or grant any consent hereunder, without the written consent of each Lender;
provided that:

     (A) no Affected 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;

     (B) no such agreement shall amend, modify or otherwise affect the rights or
duties of the Agent hereunder without the prior written consent of the Agent; and

     (C) no such agreement shall amend, modify or otherwise affect the obligations
under Article IX without the prior written consent of the Guarantor.

     Section 10.03. Expenses; Indemnity; Damage Waiver.

     (a) The Borrower shall pay (i) all reasonable out-of-pocket expenses incurred by the
Agent and its Affiliates, including the reasonable fees, charges and disbursements of
Thompson Hine LLP, counsel for the Agent, in connection with the syndication of the credit
facilities provided for herein, the preparation and administration of this Agreement and any
amendments, modifications or waivers of the provisions hereof (whether or not the
transactions contemplated hereby or thereby shall be consummated), and (ii) all

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reasonable out-of-pocket expenses incurred by the Agent or any Lender, including the
reasonable fees, charges and disbursements of any counsel for the Agent or any Lender,
related to the enforcement or protection of its rights under this Agreement in connection
with any actual or reasonably anticipated Default.

     (b) The Borrower shall indemnify the Agent 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 or asserted against any Indemnitee arising
out of, in connection with, or as a result of (i) the execution or delivery of this
Agreement or any agreement or instrument contemplated hereby, the performance by the parties
hereto of their respective obligations hereunder or the consummation of the Transactions or
any other transactions contemplated hereby, (ii) any Loan or the use of the proceeds
therefrom, (iii) any actual or alleged presence or release of Hazardous Materials on or from
any property owned or operated by the Guarantor or any of its Subsidiaries, or any
Environmental Liability related in any way to the Guarantor 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 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 have resulted from the gross negligence or willful misconduct of such
Indemnitee, as determined by a final judgment of a court of competent jurisdiction.

     (c) To the extent that the Borrower fails to pay any amount required to be paid by it
to the Agent under subsection (a) or (b) of this Section, each Lender severally agrees to
pay to the Agent, such Lender’s Applicable Percentage (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 Agent, in its
capacity as such.

     (d) To the extent permitted by applicable law, no party hereto shall assert, and each
party hereto hereby waives, any claim against any other party, on any theory of liability,
for special, consequential or punitive damages (as opposed to direct or actual damages)
arising out of, in connection with, or as a result of, this Agreement or any agreement or
instrument contemplated hereby, the Transactions, any Loan or the use of the proceeds
thereof.

     (e) All amounts due under this Section shall be payable promptly after written demand
therefor accompanied by the appropriate invoice or other detail supporting such amounts.

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     Section 10.04. Successors and Assigns.

     (a) Binding Effect. 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 (i) no Obligor may assign or otherwise transfer any of its
rights or obligations hereunder without the prior written consent of each Lender (and any
attempted assignment or transfer by any Obligor without such consent shall be null and
void), and (ii) no Lender may assign or otherwise transfer its rights or obligations
hereunder except in accordance with this Section. Nothing in this Agreement, expressed or
implied, shall be construed to confer upon any Person (other than the parties hereto, their
respective successors and assigns permitted hereby, Participants (to the extent provided in
subsection (c) of this Section) and, to the extent expressly contemplated hereby, the
Related Parties of each of the Agent and the Lenders) any legal or equitable right, remedy
or claim under or by reason of this Agreement.

     (b) Lender Assignments.

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

     (A) the Borrower and the Guarantor; provided that no consent of the
Borrower or the Guarantor shall be required for an assignment to a Lender,
an Affiliate of a Lender, an Approved Fund (as defined below) or, if an
Event of Default has occurred and is continuing, any other financial
institution (other than an affiliate of Borrower); and

     (B) the Agent; provided that no consent of the Agent shall be required
for an assignment to a Lender, an Affiliate of a Lender or an Approved Fund
(as defined below).

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

     (A) except in the case of an assignment to a Lender or an Affiliate of
a Lender, the amount of the Commitment 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 Agent) shall
not be less than CAD 5,000,000 or, if smaller, the entire remaining amount
of the assigning Lender’s Commitment, unless the Borrower and the Agent
shall otherwise consent, provided that, in the event of concurrent
assignments to two or more assignees that are Affiliates of one another, or to two or more Approved Funds managed by

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the same investment advisor or by affiliated investment advisors, all such
concurrent assignments shall be aggregated in determining compliance with
this subpart;

     (B) each partial assignment shall be made as an assignment of a
proportionate part of all the assigning Lender’s rights and obligations
under this Agreement;

     (C) the parties to each assignment shall execute and deliver to the
Agent an Assignment and Assumption, together with a processing and
recordation fee of $3,500; provided that, in the event of concurrent
assignments to two or more assignees that are Affiliates of one another, or
to two or more Approved Funds managed by the same investment advisor or by
affiliated investment advisors, only one such fee shall be payable; and

     (D) the assignee, if it shall not be a Lender, shall deliver to the
Agent an Administrative Questionnaire (a copy of which shall promptly be
provided to the Borrower).

     (iii) Subject to acceptance and recording thereof pursuant to subpart (b)(iv)
of this Section, from and after the effective date specified in each Assignment and
Assumption, the assignee thereunder shall be a party hereto, and, to the extent of
the interest assigned by such Assignment and Assumption, have the rights and
obligations of a Lender under this Agreement, and the assigning Lender thereunder
shall, to the extent of the interest assigned by such Assignment and Assumption, be
released from its obligations under this Agreement (and, in the case of an
Assignment and Assumption covering all of the assigning Lender’s rights and
obligations under this Agreement, such Lender shall cease to be a party hereto but
shall continue to be entitled to the benefits of Sections 2.12, 2.13, 2.14 and
10.03). Any assignment or transfer by a Lender of rights or obligations under this
Agreement that does not comply with this Section 9.04 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 subsection (c) of this Section.

     (iv) The Agent, acting for this purpose as an agent of the Borrower, shall
maintain at one of its offices a copy of each Assignment and Assumption delivered to
it and a register for the recordation of the names and addresses of the Lenders, and
the Commitments of, and principal amount of the Loans owing to, each Lender pursuant
to the terms hereof from time to time (the “Register”). The entries in the
Register shall be conclusive absent manifest error, and the Borrower, the Agent and
the Lenders may treat each Person whose name is recorded in the Register pursuant to
the terms hereof as a Lender hereunder for all purposes of this Agreement,
notwithstanding notice to the contrary. The Register shall be available for inspection by the Borrower and any Lender, at any reasonable
time and from time to time upon reasonable prior notice.

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     (v) Upon its receipt of a duly completed Assignment and Assumption executed by
an assigning Lender and an assignee, the assignee’s completed Administrative
Questionnaire (unless the assignee shall already be a Lender hereunder), the
processing and recordation fee referred to in subsection (b) of this Section and any
written consent to such assignment required by subsection (b) of this Section, the
Agent shall accept such Assignment and Assumption and record the information
contained therein in the Register. No assignment shall be effective for purposes of
this Agreement unless it has been recorded in the Register as provided in this
subpart.

     (c) Sale of Participations.

     (i) Any Lender may, without notice to or the consent of the Obligors or the
Agent, sell participations to one or more banks or other entities (a
“Participant”) in all or a portion of such Lender’s rights and obligations
under this Agreement (including all or a portion of its Commitment and the Loans
owing to it); provided that (A) such Lender’s obligations under this Agreement shall
remain unchanged, (B) such Lender shall remain solely responsible to the other
parties hereto for the performance of such obligations, and (C) the Borrower, the
Guarantor, the 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,
modification or waiver described in the first proviso to Section 9.02(b) that
affects such Participant. Subject to subpart (c)(ii) of this Section, the Borrower
agrees that each Participant shall be entitled to the benefits of Sections 2.12,
2.13 and 2.14 to the same extent as if it were a Lender and had acquired its
interest by assignment pursuant to subsection (b) of this Section. 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 that such Participant agrees to be
subject to Section 2.14(f) as though it were a Lender.

     (ii) A Participant shall not be entitled to receive any greater payment under
Section 2.12, 2.13 or 2.14 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 2.14 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 2.14(f) as though it were a Lender.

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

     (e) Additional Agreements and Confirmations. By executing and delivering an
Assignment and Assumption, the assigning Lender thereunder and the assignee thereunder shall
be deemed to confirm to and agree with each other and the other parties hereto as follows:
(i) such assigning Lender warrants that it is the legal and beneficial owner of the interest
being assigned thereby free and clear of any adverse claim and that its Commitments and the
outstanding balances of its Loans, in each case without giving effect to assignments thereof
that have not become effective, are as set forth in such Assignment and Assumption; (ii)
except as set forth in subpart (i) above, such assigning Lender makes no representation or
warranty and assumes no responsibility with respect to any statements, warranties or
representations made in or in connection with this Agreement or any other Loan Document or
any other instrument or document furnished pursuant hereto or thereto, or the execution,
legality, validity, enforceability, genuineness, sufficiency or value of any of the
foregoing, or the financial condition of the Obligors or the performance or observance by
the Obligors of any of their obligations under this Agreement or under any other Loan
Document or any other instrument or document furnished pursuant hereto or thereto; (iii)
each of the assignee and the assignor represents and warrants that it is legally authorized
to enter into such Assignment and Assumption; (iv) such assignee confirms that it has
received a copy of this Agreement, together with copies of any amendments or consents
entered into prior to the date of such Assignment and Assumption and copies of the most
recent financial statements delivered pursuant to Section 5.01 and such other documents and
information as it has deemed appropriate to make its own credit analysis and decision to
enter into such Assignment and Assumption; (v) such assignee will independently and without
reliance upon the Agent, such assigning Lender or any other Lender and based on such
documents and information as it shall deem appropriate at the time, continue to make its own
credit decisions in taking or not taking action under this Agreement; (vi) such assignee
appoints and authorizes the Agent to take such action as an agent on its behalf and to
exercise such powers under this Agreement and the other Loan Documents as are delegated to
it by the terms hereof and thereof, together with such powers as are reasonably incidental
thereto; and (vii) such assignee agrees that it will perform in accordance with their terms
all the obligations that by the terms of this Agreement are required to be performed by it
as a Lender.

     Section 10.05. Survival. All covenants, agreements, representations and warranties
made by each Obligor herein and in the certificates or other instruments delivered in connection with or pursuant to this Agreement shall be considered to
have been relied upon by the other parties hereto and shall survive the execution and delivery of
this Agreement and the making of any Loans, regardless of any investigation made by any such other
party or on its behalf and

56

 

notwithstanding that the Agent or any Lender may have had notice or knowledge of any Default or incorrect representation or warranty at the time any credit is extended
hereunder, and shall continue in full force and effect as long as the principal of or any accrued
interest on any Loan or any fee or any other amount payable under this Agreement is outstanding and
unpaid and so long as the Commitments have not expired or terminated. The provisions of Sections
2.12, 2.13, 2.14 and 10.03 and Article VIII shall survive and remain in full force and effect
regardless of the consummation of the transactions contemplated hereby, the repayment of the Loans,
the expiration or termination of the Commitments or the termination of this Agreement or any
provision hereof.

     Section 10.06. Counterparts; Integration; Effectiveness. This Agreement may be
executed in counterparts (and by different parties hereto on different counterparts), each of which
shall constitute an original, but all of which when taken together shall constitute a single
contract. This Agreement and any separate letter agreements with respect to fees payable to the
Agent constitute the entire contract among the parties relating to the subject matter hereof and
supersede any and all previous agreements and understandings, oral or written, relating to the
subject matter hereof. Except as provided in Section 4.01, this Agreement shall become effective
when it shall have been executed by the Agent and when the Agent shall have received counterparts
hereof which, when taken together, bear the signatures of each of the other parties hereto, and
thereafter shall be binding upon and inure to the benefit of the parties hereto and their
respective successors and assigns. Delivery of an executed counterpart of a signature page of this
Agreement by facsimile or .pdf via electronic mail shall be effective as delivery of a manually
executed counterpart of this Agreement.

     Section 10.07. Severability. Any provision of this Agreement held to be invalid,
illegal or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the
extent of such invalidity, illegality or unenforceability without affecting the validity, legality
and enforceability of the remaining provisions hereof; and the invalidity of a particular provision
in a particular jurisdiction shall not invalidate such provision in any other jurisdiction.

     Section 10.08. Right of Setoff. If an Event of Default shall have occurred and be
continuing, each Lender and each of its Affiliates is hereby authorized at any time and from time
to time, to the fullest extent permitted by law, to set off and apply any and all deposits (general
or special, time or demand, provisional or final) at any time held and other obligations at any
time owing by such Lender or Affiliate to or for the credit or the account of each Obligor against
any of and all the obligations of each Obligor now or hereafter existing under this Agreement held
by such Lender, irrespective of whether or not such Lender shall have made any demand under this
Agreement and although such obligations may be unmatured. The rights of each Lender under this
Section are in addition to other rights and remedies (including other rights of setoff) that such
Lender may have. Any Lender of Affiliate of such Lender exercising any of its rights pursuant to
this Section shall provide notice of the same to the Obligors promptly after exercising the same; provided that the failure to give
such notice shall not effect the validity of such setoff.

57

 

Section 10.09. Governing Law; Jurisdiction; Consent to Service of Process.

     (a) This Agreement shall be construed in accordance with and governed by the law of the
State of New York.

     (b) Each Obligor hereby irrevocably and unconditionally submits, for itself and its
property, to the nonexclusive jurisdiction of the Supreme Court of the State of New York
sitting in New York County and of the United States District Court of the Southern District
of New York, and any appellate court from any thereof, in any action or proceeding arising
out of or relating to this Agreement, or for recognition or enforcement of any judgment, and
each of the parties hereto hereby irrevocably and unconditionally agrees that all claims in
respect of any such action or proceeding may be heard and determined in such New York State
or, to the extent permitted by law, in such federal court. Each 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 shall affect any right that the Agent or any Lender may
otherwise have to bring any action or proceeding relating to this Agreement against the
Borrower, the Guarantor or their respective properties in the courts of any jurisdiction.

     (c) Each Obligor hereby irrevocably and unconditionally waives, to the fullest extent
it may legally and effectively do so, any objection which it may now or hereafter have to
the laying of venue of any suit, action or proceeding arising out of or relating to this
Agreement in any court referred to in subsection (b) of this Section. Each of the parties
hereto hereby irrevocably waives, to the fullest extent permitted by law, the defense of an
inconvenient forum to the maintenance of such action or proceeding in any such court.

     (d) Each party to this Agreement irrevocably consents to service of process in the
manner provided for notices in Section 9.01. Nothing in this Agreement will affect the
right of any party to this Agreement to serve process in any other manner permitted by law.

     Section 10.10. Headings. Article and Section headings and the Table of Contents used
herein are for convenience of reference only, are not part of this Agreement and shall not affect
the construction of, or be taken into consideration in interpreting, this Agreement.

     Section 10.11. Confidentiality. Each of the Agent and the Lenders agrees to maintain
the confidentiality of the Information (as defined below), except that Information may be disclosed
(a) to its and its Affiliates’ directors, officers, employees and agents, including accountants,
legal counsel and other advisors (it being understood that the Persons to whom such disclosure is made will be informed of the confidential
nature of such Information and instructed to keep such Information confidential) on a “need to
know” basis solely in connection with the Transactions, (b) to the extent requested by any
regulatory authority, (c) to the extent required by applicable laws or regulations or by any
subpoena or similar legal process, provided, however, that, to the extent legally permitted, the
Obligors promptly notified in order that they may seek a protective

58

 

order or take other appropriate action, (d) to any other party to this Agreement, (e) to the extent reasonably required or
reasonably deemed advisable in connection with the exercise of any remedies hereunder or any suit,
action or proceeding relating to this Agreement or the enforcement of rights hereunder, (f) subject
to an 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 counterparty (or its
advisors) to any swap or derivative transaction relating to the Borrower and its obligations, (g)
with the consent of the Obligors, or (h) to the extent such Information (i) becomes publicly
available other than as a result of a breach of this Section, or (ii) becomes available to the
Agent or any Lender on a nonconfidential basis from a source other than any Obligor. For the
purposes of this Section, “Information” means all information received from any Obligor relating to
any Obligor or their business, other than any such information that is available to the Agent or
any Lender on a nonconfidential basis prior to disclosure by such Obligor; provided that, in the
case of information received from an Obligor after the date hereof, such information is clearly
identified as confidential at the time of delivery or delivered under circumstances that would
cause a reasonable person to believe such information to be 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.

     Section 10.12. Interest Rate Limitations.

     (a) Generally. Notwithstanding anything herein to the contrary, if at any time
the interest rate applicable to any Loan, together with all fees, charges and other amounts
which are treated as interest on such Loan under applicable law (collectively the
“Charges”), shall exceed the maximum lawful rate (the “Maximum Rate”) which
may be contracted for, charged, taken, received or reserved by the Lender holding such Loan
in accordance with applicable law, the rate of interest payable in respect of such Loan
hereunder, together with all Charges payable in respect thereof, shall be limited to the
Maximum Rate and, to the extent lawful, the interest and Charges that would have been
payable in respect of such Loan but were not payable as a result of the operation of this
Section shall be cumulated and the interest and Charges payable to such Lender in respect of
other Loans or periods shall be increased (but not above the Maximum Rate therefor) until
such cumulated amount, together with interest thereon at the Federal Funds Effective Rate to
the date of repayment, shall have been received by such Lender.

     (b) Canadian Interest. If any provision of this Agreement or any other Loan
Document would obligate the Borrower to make any payment of interest or other amount
payable to (including for the account of) any Lender in an amount, or calculated at a rate,
that would be prohibited by law or would result in a receipt by such Lender of interest at a
criminal rate (as such terms are construed under the Criminal Code (Canada)) then,
notwithstanding such provision, such amount or rate shall be deemed to have been adjusted
with retroactive effect to the maximum amount or rate of interest, as the case may be, as
would not be so prohibited by law or so result in a receipt by such Lender of interest at a
criminal rate, such adjustment to be effected, to the extent necessary, as

59

 

follows: (A) first, by reducing the amount or rate of interest required to be paid to such Lender under
Section 2.10 and, if applicable, Section 2.11; and (B) thereafter, by reducing any fees,
commissions, premiums and other amounts required to be paid to such Lender that would
constitute interest for purposes of Section 347 of the Criminal Code (Canada).
Notwithstanding the foregoing, and after giving effect to all adjustments contemplated
thereby, if a Lender shall have received an amount in excess of the maximum amount permitted
by that section of the Criminal Code (Canada), then the Lender shall pay an amount equal to
such excess to the Borrower. Any amount or rate of interest referred to in this Section
10.12 with respect to the Commitments shall be determined in accordance with generally
accepted actuarial practices and principles as an effective annual rate of interest over the
term that the Commitments remain outstanding on the assumption that any charges, fees or
expenses that fall within the meaning of “interest” (as defined in the Criminal Code
(Canada)) shall, if they relate to a specific period of time, be pro-rated over that period
of time and, in the event of a dispute, a certificate of a Fellow of the Canadian Institute
of Actuaries appointed by the Agent shall be conclusive for the purposes of such
determination.

     Section 10.13. USA Patriot Act. Each Lender hereby notifies the Borrower that
pursuant to the requirements of the USA Patriot Act, it is required to obtain, verify and record
information that identifies the Borrower, which information includes the name and address of the
Borrower and other information that will allow such Lender to identify the Borrower in accordance
with the USA Patriot Act.

     Section 10.14. No Advisory or Fiduciary Relationship. In connection with all aspects
of each transaction contemplated hereby (including in connection with any amendment, waiver or
other modification hereof or of any other Loan Document), each Obligor acknowledges and agrees
that: (a)(i) the arranging and other services regarding this Agreement provided by the Agent and
the Joint Lead Arrangers, are arm’s-length commercial transactions between the Obligors, on the one
hand, and the Agent and the Joint Lead Arrangers, on the other hand, (ii) each Obligor has
consulted its own legal, accounting, regulatory and tax advisors to the extent it has deemed
appropriate, and (iii) each Obligor is capable of evaluating, and understands and accepts, the
terms, risks and conditions of the transactions contemplated hereby and by the other Loan
Documents; (b)(i) the Agent and the Joint Lead Arrangers are and have been acting solely as
principals and, except as expressly agreed in writing by the relevant parties, have not been, are
not and will not be acting as advisors, agents or fiduciaries, for the Borrower and (ii) neither
the Agent nor any Joint Lead Arranger has any obligation to the Borrower with respect to the
transactions contemplated hereby except those obligations expressly set forth herein and in the
other Loan Documents; and (c) the Agent and the Joint Lead Arrangers and their respective
Affiliates may be engaged in a broad range of transactions that involve interests that differ from those of the Obligors, and
neither the Agent nor any Joint Lead Arranger has any obligation to disclose any of such interests
to the Obligors. To the fullest extent permitted by law, each Obligor hereby waives and releases,
any claims that it may have against the Agent or any Joint Lead Arranger with respect to any breach
or alleged breach of agency or fiduciary duty in connection with any aspect of any transaction
contemplated hereby.

60

 

     Section 10.15. Judgment Currency.

     (a) This is an international transaction in which the specification of Canadian Dollars
and payment in New York City is of the essence, and the obligations of the Borrower under
this Agreement to make payment to or for account of the Agent or the Lenders in Canadian
Dollars shall not be discharged or satisfied by any tender or recovery pursuant to any
judgment expressed in or converted into any other currency or in another place except to the
extent that such tender or recovery results in the effective receipt by such Lender in New
York City of the full amount of Canadian Dollars payable to such Lender under this
Agreement.

     (b) If for the purpose of obtaining judgment in any court it is necessary to convert a
sum due hereunder in Canadian Dollars (or Dollars with respect to certain fees and expenses
that may be due hereunder pursuant to Section 10.03) into another currency (in this Section
called the “Judgment Currency”), the rate of exchange that shall be applied shall be
that at which in accordance with normal banking procedures the Agent could purchase such
Canadian Dollars (or Dollars) at the principal office of the Agent in New York City with the
Judgment Currency on the Business Day next preceding the day on which such judgment is
rendered. The obligation of the Borrower in respect of any such sum due from it to the
Agent or any Lender hereunder (in this Section called an “Entitled Person”) shall,
notwithstanding the rate of exchange actually applied in rendering such judgment, be
discharged only to the extent that on the Business Day following receipt by such Entitled
Person of any such adjudged to be due hereunder in the Judgment Currency such Entitled
Person may in accordance with normal banking procedures purchase and transfer Canadian
Dollars (or Dollars) to New York City with the amount of the Judgment Currency so adjudged
to be due; and the Borrower hereby, as a separate obligation and notwithstanding any such
judgment, agrees to indemnify such Entitled Person again, and to pay such Entitled Person on
demand, in Canadian Dollars (or Dollars), the amount (if any) by which the sum originally
due to such Entitled Person in Canadian Dollars (or Dollars) hereunder exceed the amount of
the Canadian Dollars (or Dollars) so purchased and transferred.

[Remainder of page left intentionally blank]

61

 

Section 10.16. JURY TRIAL WAIVER. TO THE EXTENT PERMITTED BY LAW, THE BORROWER,
THE GUARANTOR, THE AGENT AND EACH LENDER WAIVE ANY RIGHT TO HAVE A JURY PARTICIPATE IN RESOLVING
ANY DISPUTE, WHETHER SOUNDING IN CONTRACT, TORT OR OTHERWISE, AMONG THE BORROWER, THE GUARANTOR,
THE AGENT AND THE LENDERS, OR ANY THEREOF, ARISING OUT OF, IN CONNECTION WITH, RELATED TO, OR
INCIDENTAL TO THE RELATIONSHIP ESTABLISHED AMONG THEM IN CONNECTION WITH THIS AGREEMENT OR ANY NOTE
OR OTHER INSTRUMENT, DOCUMENT OR AGREEMENT EXECUTED OR DELIVERED IN CONNECTION HEREWITH OR THE
TRANSACTIONS RELATED THERETO.

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

	 	 	 	 	 
	 	SHERWIN-WILLIAMS CANADA INC.,

as the Borrower

 	 
	 	By:  	/s/
 	 
	 	 	Cynthia D. Brogan 	 
	 	 	Vice President and Assistant Treasurer 	 
	 
	 	THE SHERWIN-WILLIAMS COMPANY,

as the Guarantor

 	 
	 	By:  	/s/
 	 
	 	 	Sean P. Hennessy 	 
	 	 	Senior Vice President-Finance and Chief
Financial Officer 	 
	 

Signature Page

1 of 2 of the Credit Agreement

 

 

	 	 	 	 	 
	 	KEYBANK NATIONAL ASSOCIATION,

as the Agent and as a Lender

 	 
	 	By:  	/s/
 	 
	 	 	Marianne T. Meil 	 
	 	 	Senior Vice President 	 
	 

	 	 	 	 	 
	 	PNC BANK CANADA BRANCH,

as a Lender

 	 
	 	By:  	/s/
 	 
	 	 	Mike Danby 	 
	 	 	Assistant Vice President 	 
	 
	 	 	 
	 	By:  	/s/
 	 
	 	 	Bill Hines 	 
	 	 	Senior Vice President & Principal Officer 	 
	 

Signature Page

2 of 2 of the Credit Agreement

 

 

SCHEDULE 2.01

COMMITMENTS

	 	 	 	 	 	 	 	 	 
	 	 	APPLICABLE	 	 
	LENDERS	 	PERCENTAGE	 	COMMITMENT
	KeyBank National Association
	 	 	50	%	 	CAD 37,500,000
	PNC Bank Canada Branch
	 	 	50	%	 	CAD 37,500,000
	Total
	 	 	100	%	 	CAD 75,000,000

S-1

 

SCHEDULE 10.01

NOTICES

ADDRESS FOR THE BORROWER

Sherwin-Williams Canada Inc.

c/o The Sherwin-Williams Company

101 Prospect Avenue, N.W.

Cleveland, Ohio 44115

Attention: Vice President and Treasurer

Telephone: 216-566-2106

Facsimile: 216-566-2984

E-mail: cdbrogan@sherwin.com

Website: www.sherwin-williams.com

With courtesy copies to:

Attention: Senior Vice President-Finance and

                Chief Financial Officer

Telephone: 216-566-2573

Facsimile: 216-566-2947

E-mail: sphennessy@sherwin.com

With courtesy copies to:

Attention: General Counsel

Telephone: 216-566-2478

Facsimile: 216-566-1708

E-mail: ralegenza@sherwin.com

ADDRESS FOR THE GUARANTOR

The Sherwin-Williams Company

101 Prospect Avenue, N.W.

Cleveland, Ohio 44115

Attention: Vice President and Treasurer

Telephone: 216-566-2106

Facsimile: 216-566-2984

E-mail: cdbrogan@sherwin.com

Website: www.sherwin-williams.com

With courtesy copies to:

Attention: Senior Vice President-Finance and

                Chief Financial Officer

Telephone: 216-566-2573

Facsimile: 216-566-2947

E-mail: sphennessy@sherwin.com

With courtesy copies to:

Attention: General Counsel

Telephone: 216-566-2478

Facsimile: 216-566-1708

E-mail: ralegenza@sherwin.com

ADDRESSES FOR THE AGENT

Agent’s Office (for payments and requests):

KeyBank National Association

127 Public Square

Cleveland, Ohio 44114

Attention: Jasmine Dobbs, Elsa O’Brien and LaShawn Dalton

Telephone: 216-689-0290

E-mail: Jasmine_D_Dobbins@KeyBank.com

                Elsa_O’Brien@KeyBank.com

               Lashawn_Dalton@KeyBank.com

Wiring Instructions:

Royal Bank of Canada

GIS FI — Client Service Center

180 Wellington St. West 6th Floor

Toronto, Ontario M5J 1J1

Bank No.: 0003

Transit No.: 09591

Swift: ROYCCAT2

Account: 2445369

Beneficiary: KeyBank National Association, Cleveland

Other Notices to the Agent:

KeyBank National Association

127 Public Square

Cleveland, Ohio 44114

Attention: Institutional Bank, Marianne T. Meil,

      Senior Vice President

Telephone: 216-689-3549

Facsimile: 216-689-4981

E-mail: Marianne.Meil@KeyBank.com

S-2

 

EXHIBIT A

FORM OF

ASSIGNMENT AND ASSUMPTION

     This Assignment and Assumption (this “Assignment Agreement”) between                                         
(the “Assignor”) and                                          (the “Assignee”) is dated as of                     , 20. The
parties hereto agree as follows:

     1. Preliminary Statement. Assignor is a party to a Credit Agreement, dated as of July
19, 2010 (as the same may from time to time be amended, restated or otherwise modified, the “Credit
Agreement”), among Sherwin-Williams Canada Inc., a Canadian federal corporation (the “Borrower”),
The Sherwin-Williams Company, an Ohio corporation (the “Guarantor”), the lenders named therein
(together with their respective successors and assigns, collectively, the “Lenders” and,
individually, each a “Lender”), KeyBank National Association, as the joint lead arranger, sole book
runner and administrative agent for the Lenders (the “Agent”), and PNC Capital Markets, LLC, as
joint lead arranger and syndication agent. Capitalized terms used herein and not otherwise defined
herein shall have the meanings attributed to them in the Credit Agreement.

     2. Assignment and Assumption. Assignor hereby sells and assigns to Assignee, and
Assignee hereby purchases and assumes from Assignor, an interest in and to Assignor’s rights and
obligations under the Credit Agreement, effective as of the Assignment Effective Date (as
hereinafter defined), equal to the percentage interest specified on subpart II.A of Annex 1
hereto of Assignor’s right, title and interest in and to (a) the Commitment of Assignor, (b) any
Loan made by Assignor that is outstanding on the Assignment Effective Date, (c) any Revolving Note
(or any other promissory note) delivered to Assignor pursuant to the Credit Agreement, and (d) the
Credit Agreement, the other Loan Documents and any other agreement, document or instrument
delivered in connection therewith. After giving effect to such sale and assignment and on and
after the Assignment Effective Date, Assignee shall be deemed to have an “Applicable Percentage”
under the Credit Agreement equal to the Applicable Percentage set forth in subpart II.B on
Annex 1 hereto and a Commitment as set forth on subpart II.C of Annex 1 hereto
(hereinafter, the “Assigned Amount”).

     3. Assignment Effective Date. The Assignment Effective Date (the “Assignment
Effective Date”) shall be [                     ___, ___] (or such other date agreed to by the Agent). On or
prior to the Assignment Effective Date, Assignor shall satisfy the following conditions:

     (a) receipt by the Agent of this Assignment Agreement, including Annex 1 hereto,
properly executed by Assignor and Assignee and accepted and consented to by the Agent and, if
necessary pursuant to the provisions of Section 10.04(b) of the Credit Agreement, by the Borrower
and the Guarantor;

     (b) receipt by the Agent of a fee of Three Thousand Five Hundred Dollars ($3,500), if required
by Section 10.04(b)(ii)(C) of the Credit Agreement;

E-1

 

     (c) receipt by the Agent from Assignee of an Administrative Questionnaire, or other similar
document, which shall include (i) the address for notices under the Credit Agreement, (ii) the
address of its lending office, (iii) wire transfer instructions for delivery of funds by the Agent,
(iv) and such other information as the Agent shall request; and

     (d) receipt by the Agent from Assignor or Assignee of any other information required pursuant
to Section 10.04(b) of the Credit Agreement or otherwise necessary to complete the transaction
contemplated hereby.

     4. Payment Obligations. In consideration for the sale and assignment hereunder,
Assignee shall pay to Assignor, on the Assignment Effective Date, the amount agreed to by Assignee
and Assignor. Any interest, fees and other payments accrued prior to the Assignment Effective Date
with respect to the Assigned Amount shall be for the account of Assignor. Any interest, fees and
other payments accrued on and after the Assignment Effective Date with respect to the Assigned
Amount shall be for the account of Assignee. Each of Assignor and Assignee agrees that it will
hold in trust for the other party any interest, fees or other amounts which it may receive to which
the other party is entitled pursuant to the preceding sentence and to pay the other party any such
amounts which it may receive promptly upon receipt thereof.

     5. Credit Determination; Limitations on Assignor’s Liability. Assignee represents and
warrants to Assignor, the Borrower, the Guarantor, the Agent and the Lenders (a) that it is capable
of making and has made and shall continue to make its own credit determinations and analysis based
upon such information as Assignee deemed sufficient to enter into the transaction contemplated
hereby and not based on any statements or representations by Assignor; (b) Assignee confirms that
it meets the requirements to be an assignee as set forth in Section 10.04(b) of the Credit
Agreement; (c) Assignee confirms that it is able to fund the Loans as required by the Credit
Agreement; (d) Assignee agrees that it will perform in accordance with their terms all of the
obligations which by the terms of the Credit Agreement and the Loan Documents are required to be
performed by it as a Lender thereunder; and (e) Assignee represents that it has reviewed each of
the Loan Documents. It is understood and agreed that the assignment and assumption hereunder are
made without recourse to Assignor and that Assignor makes no representation or warranty of any kind
to Assignee and shall not be responsible for (i) the due execution, legality, validity,
enforceability, genuineness, sufficiency or collectability of the Credit Agreement or any Loan
Document, (ii) any representation, warranty or statement made in or in connection with the Credit
Agreement or any of the Loan Documents, (iii) the financial condition or creditworthiness of the
Borrower or the Guarantor, (iv) the performance of or compliance with any of the terms or
provisions of the Credit Agreement or any of the Loan Documents, (v) the inspection of any of the
property, books or records of the Borrower, or (vi) the validity, enforceability, perfection,
priority, condition, value or sufficiency of any collateral securing or purporting to secure the
Loans. Neither Assignor nor any of its officers, directors, employees, agents or attorneys shall
be liable for any mistake, error of judgment, or action taken or omitted to be taken in connection
with the Loans, the Credit Agreement or the Loan Documents, except for its or their own gross
negligence or willful misconduct. Assignee appoints the Agent to take such action as agent on its
behalf and to exercise such powers under the Credit Agreement as are delegated to the Agent by the
terms thereof.

E-2

 

     6. Indemnity. Assignee agrees to indemnify and hold Assignor harmless against any and
all losses, cost and expenses (including, without limitation, attorneys’ fees) and liabilities
incurred by Assignor in connection with or arising in any manner from Assignee’s performance or
non-performance of obligations assumed under this Assignment Agreement.

     7. Subsequent Assignments. After the Assignment Effective Date, Assignee shall have
the right, pursuant to Section 10.04(b) of the Credit Agreement, to assign the rights which are
assigned to Assignee hereunder, provided that (a) any such subsequent assignment does not violate
any of the terms and conditions of the Credit Agreement, any of the Loan Documents, or any law,
rule, regulation, order, writ, judgment, injunction or decree and that any consent required under
the terms of the Credit Agreement or any of the Loan Documents has been obtained, (b) the assignee
under such assignment from Assignee shall agree to assume all of Assignee’s obligations hereunder
in a manner satisfactory to Assignor, and (c) Assignee is not thereby released from any of its
obligations to Assignor hereunder.

     8. Reductions of Aggregate Amount of Commitments. If any reduction in the aggregate
Commitments of the Lenders occurs between the date of this Assignment Agreement and the Assignment
Effective Date, the Assigned Amount shall be recalculated based on the Assignee’s Applicable
Percentage of the reduced aggregate Commitments of the Lenders.

     9. Acceptance of the Agent; Notice by Assignor. This Assignment Agreement is
conditioned upon the acceptance and consent of the Agent and, if necessary pursuant to Section
10.04(b) of the Credit Agreement, upon the acceptance and consent of the Borrower and the
Guarantor; provided that the execution of this Assignment Agreement by the Agent and, if necessary,
by the Borrower and the Guarantor is evidence of such acceptance and consent.

     10. Entire Agreement. This Assignment Agreement embodies the entire agreement and
understanding between the parties hereto and supersedes all prior agreements and understandings
between the parties hereto relating to the subject matter hereof.

     11. Governing Law. This Assignment Agreement shall be governed by the laws of the
State of New York, without regard to conflicts of laws.

     12. Notices. Notices shall be given under this Assignment Agreement in the manner set
forth in the Credit Agreement. For the purpose hereof, the addresses of the parties hereto (until
notice of a change is delivered) shall be the address set forth under each party’s name on the
signature pages hereof.

     13. Counterparts. This Assignment Agreement may be executed in any number of
counterparts, by different parties hereto in separate counterparts and by facsimile signature, each
of which when so executed and delivered shall be deemed to be an original and all of which taken
together shall constitute but one and the same agreement.

[Remainder of page intentionally left blank.]

E-3

 

     14. JURY TRIAL WAIVER. EACH OF THE UNDERSIGNED, TO THE EXTENT PERMITTED BY LAW, WAIVES ANY
RIGHT TO HAVE A JURY PARTICIPATE IN RESOLVING ANY DISPUTE, WHETHER SOUNDING IN CONTRACT, TORT, OR
OTHERWISE, AMONG THE AGENT, ANY OF THE LENDERS, AND THE BORROWER, OR ANY THEREOF, ARISING OUT OF,
IN CONNECTION WITH, RELATED TO, OR INCIDENTAL TO THE RELATIONSHIP ESTABLISHED AMONG THEM IN
CONNECTION WITH THIS INSTRUMENT OR ANY NOTE OR OTHER AGREEMENT, INSTRUMENT OR DOCUMENT EXECUTED OR
DELIVERED IN CONNECTION THEREWITH OR THE TRANSACTIONS RELATED HERETO.

     IN WITNESS WHEREOF, the parties hereto have executed this Assignment Agreement by their duly
authorized officers as of the date first above written.

	 	 	 	 	 	 	 	 	 	 	 	 	 

	 	 	 	 	 	 	 	 	ASSIGNOR:	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Address:
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 
	 

	 	Attn:
	 	 	 	 	 	By:	 	 	 	 
	 

	 	Phone:
	 	 

	 	 	 	Name:
	 	 

	 	 
	 

	 	Fax:
	 	 

	 	 	 	Title:
	 	 

	 	 
	 

	 	 	 	 

	 	 	 	 	 	 

	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	ASSIGNEE:	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Address:
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 
	 

	 	Attn:
	 	 	 	 	 	By:	 	 	 	 
	 

	 	Phone:
	 	 

	 	 	 	Name:
	 	 

	 	 
	 

	 	Fax:
	 	 

	 	 	 	Title:
	 	 

	 	 
	 

	 	 	 	 

	 	 	 	 	 	 

	 	 
	Accepted and Consented to this ___ day
of ___, 20__:	 	 	 	Accepted and Consented to this ___ day
of _______, 20__:	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	KEYBANK NATIONAL ASSOCIATION, 

as the Agent	 	 	 	[SHERWIN-WILLIAMS CANADA INC.]	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	By:

	 	 	 	 	 	 	 	By:	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 
	Name:

	 	 	 	 	 	 	 	Name:	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 
	Title:

	 	 	 	 	 	 	 	Title:	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	[THE SHERWIN-WILLIAMS COMPANY]	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	By:	 	 	 	 
	 

	 	 	 	 	 	 	 	Name:
	 	 

	 	 
	 

	 	 	 	 	 	 	 	Title:
	 	 

	 	 
	 

	 	 	 	 	 	 	 	 	 	 	 	 

E-4

 

ANNEX 1

TO

ASSIGNMENT AND ASSUMPTION

     On and after the Assignment Effective Date, after giving effect to all other assignments being
made by Assignor on the Assignment Effective Date, the Commitment of Assignee, and, if this is less
than an assignment of all of Assignor’s interest, Assignor, shall be as follows:

	 	 	 	 	 	 	 

	I.	 	ASSIGNOR’S COMMITMENT PRIOR TO ASSIGNMENT
	 
	 	 	 	 	 	 
	 

	 	A.
	 	Assignor’s Applicable Percentage
	 	                    %
	 
	 	 	 	 	 	 
	 

	 	B.
	 	Assignor’s Commitment Amount
	 	CAD______
	 
	 	 	 	 	 	 
	II.	 	INTERESTS BEING ASSIGNED TO ASSIGNEE
	 
	 	 	 	 	 	 
	 

	 	A.
	 	Percentage of Assignor’s Interests Being Assigned
	 	                    %
	 
	 	 	 	 	 	 
	 

	 	B.
	 	Assigned Applicable Percentage
	 	                    %
	 
	 	 	 	 	 	 
	 

	 	C.
	 	Assigned Commitment Amount
	 	CAD______
	 
	 	 	 	 	 	 
	III.	 	ASSIGNEE’S COMMITMENT (after giving effect to this Assignment Agreement)
	 
	 	 	 	 	 	 
	 

	 	A.
	 	Assignee’s Applicable Percentage
	 	                    %
	 
	 	 	 	 	 	 
	 

	 	B.
	 	Assignee’s Commitment Amount
	 	CAD______
	 
	 	 	 	 	 	 
	IV.	 	ASSIGNOR’S COMMITMENT (after giving effect to this Assignment Agreement)
	 
	 	 	 	 	 	 
	 

	 	A.
	 	Assignor’s Applicable Percentage
	 	                    %
	 
	 	 	 	 	 	 
	 

	 	B.
	 	Assignor’s remaining Commitment Amount
	 	CAD______

E-5

 

EXHIBIT B

FORM OF

REVOLVING NOTE

	 	 	 

	CAD[                    ]

	 	Cleveland, Ohio
	 

	 	July 19, 2010

     FOR VALUE RECEIVED, the undersigned, SHERWIN-WILLIAMS CANADA INC., a Canadian federal
corporation (the “Borrower”), promises to pay, on the Maturity Date, as defined in the Credit
Agreement (as hereinafter defined), or such earlier date on which the Commitments, as defined in
the Credit Agreement, shall have been terminated, to the order of                                          (“Lender”) at
the main office of KEYBANK NATIONAL ASSOCIATION, as the Agent, as hereinafter defined, 127 Public
Square, Cleveland, Ohio 44114-1306 the principal sum of

	 	 	 

	[                                        ]

	 	CANADIAN DOLLARS

or the aggregate unpaid principal amount of all Revolving Loans, as defined in the Credit
Agreement, made by Lender to the Borrower pursuant to Section 2.01 of the Credit Agreement,
whichever is less, in lawful money of Canada. The Borrower also agrees to pay any additional amount
that is required to be paid pursuant to Section 10.15 of the Credit Agreement.

     As used herein, “Credit Agreement” means the Credit Agreement dated as of July 19, 2010, among
the Borrower, The Sherwin-Williams Company, an Ohio corporation, the Lenders, as defined therein,
KeyBank National Association, as the joint lead arranger, sole book runner and administrative agent
for the Lenders (the “Agent”) and PNC Capital Markets, LLC, as the joint lead arranger and
syndication agent, as the same may from time to time be amended, restated or otherwise modified.
Each capitalized term used herein that is defined in the Credit Agreement and not otherwise defined
herein shall have the meaning ascribed to it in the Credit Agreement.

     The Borrower also promises to pay interest on the unpaid principal amount of each Revolving
Loan from time to time outstanding, from the date of such Revolving Loan until the payment in full
thereof, at the rates per annum that shall be determined in accordance with the provisions of
Section 2.10 of the Credit Agreement. Such interest shall be payable on each date provided for in
such Section 2.10, or as otherwise provided in the Credit Agreement.

     The portions of the principal sum hereof from time to time representing Canadian Base Rate
Loans and Canadian Fixed Rate Loans, interest owing thereon, and payments of principal and interest
of any thereof, shall be shown on the records of Lender by such method as Lender may generally
employ; provided that failure to make any such entry shall in no way detract from the obligations
of the Borrower under this Note.

E-6

 

     If this Note shall not be paid at maturity, whether such maturity occurs by reason of lapse of
time or by operation of any provision for acceleration of maturity contained in the Credit
Agreement, the principal hereof and the unpaid interest thereon shall bear interest, pursuant to
the terms of the Credit Agreement, until paid, at a rate per annum equal to the rate set forth in
Section 2.10(c) of the Credit Agreement. All payments of principal of and interest on this Note
shall be made in immediately available funds.

     This Note is one of the Revolving Notes referred to in the Credit Agreement and is entitled to
the benefits thereof. Reference is made to the Credit Agreement for a description of the right of
the undersigned to anticipate payments hereof, the right of the holder hereof to declare this Note
due prior to its stated maturity, and other terms and conditions upon which this Note is issued.

     Except as expressly provided in the Credit Agreement, the Borrower expressly waives
presentment, demand, protest and notice of any kind. This Note shall be governed by and construed
in accordance with the laws of the State of New York, without regard to conflicts of laws
provisions.

     JURY TRIAL WAIVER. THE BORROWER, TO THE EXTENT PERMITTED BY LAW, HEREBY WAIVES ANY
RIGHT TO HAVE A JURY PARTICIPATE IN RESOLVING ANY DISPUTE, WHETHER SOUNDING IN CONTRACT, TORT OR
OTHERWISE, AMONG THE BORROWER, THE AGENT AND THE LENDERS, OR ANY THEREOF, ARISING OUT OF, IN
CONNECTION WITH, RELATED TO, OR INCIDENTAL TO THE RELATIONSHIP ESTABLISHED AMONG THEM IN CONNECTION
WITH THIS NOTE OR ANY OTHER NOTE OR INSTRUMENT, DOCUMENT OR AGREEMENT EXECUTED OR DELIVERED IN
CONNECTION HEREWITH OR THE TRANSACTIONS RELATED THERETO.

	 	 	 	 	 	 	 	 	 

	 	 	SHERWIN-WILLIAMS CANADA INC.	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	By:	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 	 	 
	 

	 	 	 	Title:
	 	 

	 	 
	 

	 	 	 	 	 	 

	 	 

E-7

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