Document:

Exhibit 10-a

EXECUTION COPY

THIRD AMENDMENT AND
RESTATEMENT AGREEMENT 

Dated as of March 31, 2017

THIS THIRD AMENDMENT AND RESTATEMENT AGREEMENT (this “Agreement”) is made as of
March 31, 2017 by and among Meritor, Inc., an Indiana corporation (the
“Company”), ArvinMeritor Finance Ireland Unlimited
Company, a private unlimited liability company incorporated under the laws of
Ireland (the “Subsidiary
Borrower”, and collectively with
the Company, the “Borrowers”), each of the
financial institutions listed on the signature pages hereof as a “Lender” or
“Issuing Bank” (the “Lenders”), each of the
financial institutions listed on the signature pages hereof as a “Departing
Lender” (the “Departing Lenders”), JPMorgan Chase Bank, N.A. (“JPMCB”), in its capacity
as administrative agent for the Lenders (the “Administrative Agent”), under that certain Second Amended and Restated
Credit Agreement dated as of February 13, 2014 among the Borrowers, the
financial institutions from time to time party thereto as lenders (the
“Existing Lenders”) and the Administrative Agent (as amended,
supplemented or otherwise modified prior to the date hereof, the
“Existing Credit Agreement”) and JPMCB, in
its capacity as “Swing Line Bank” under and as defined in the Exiting Credit
Agreement (the “Existing Swing
Line Bank”). Capitalized terms
used but not defined herein shall have the meanings assigned to such terms in
the Restated Credit Agreement. 

WHEREAS, (a) the Borrowers, the Lenders, the Existing Swing Line Bank and
the Administrative Agent have agreed to enter into this Agreement in order to
(i) amend and restate the Existing Credit Agreement in its entirety; (ii)
re-evidence the “Obligations” under, and as defined in, the Existing Credit
Agreement, which shall be repayable in accordance with the terms of the Restated
Credit Agreement; and (iii) set forth the terms and conditions under which the
Lenders will, from time to time, make loans and extend other financial
accommodations to or for the benefit of the Borrowers, and (b) the Borrowers,
the Lenders, the Departing Lenders, the Existing Swing Line Bank and the
Administrative Agent have agreed that each Departing Lender shall cease to be a
party to the Existing Credit Agreement, as evidenced by its execution and
delivery of its signature page hereto. 

NOW, THEREFORE, in consideration of the premises set forth above, the
terms and conditions contained herein, and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the
parties hereto have agreed to enter into this Agreement. 

1. Amendment and
Restatement of the Existing Credit Agreement; Reaffirmation.

(a) Effective on the
Restatement Effective Date (as defined below), the Existing Credit Agreement
(including the Exhibits and Schedules thereto) is hereby amended and restated in
its entirety to read as set forth in Exhibit A hereto (the
“Restated Credit
Agreement”). From and after
the effectiveness of such amendment and restatement the terms “Agreement”, “this
Agreement”, “herein”, “hereinafter”, “hereto”, “hereof” and words of similar
import, as used in the Restated Credit Agreement, shall, unless the context
otherwise requires, refer to the Restated Credit Agreement, and the term “Credit
Agreement”, as used in the other Loan Documents, shall mean the Restated Credit
Agreement. 

(b) Subject to Section 2 below, all “Revolving Loan Commitments” as defined in, and in effect
under, the Existing Credit Agreement on the Restatement Effective Date shall
continue in effect under the Restated Credit Agreement, and all “Revolving
Loans” or other “Obligations” as defined in, and outstanding under, the Existing
Credit Agreement on the Restatement Effective Date shall continue to be
outstanding under the Restated Credit Agreement, and on and after the
Restatement Effective Date the terms of the Restated Credit Agreement will
govern the rights and obligations of the Borrowers, the Lenders and the
Administrative Agent with respect thereto. For the avoidance of doubt, any
additional obligations constituting “Secured Obligations” owing to any Lender or
any Affiliate of any Lender which are outstanding on the Restatement Effective
Date shall continue as Secured Obligations for purposes of the Restated Credit
Agreement and the other Loan Documents. 

(c) Without limiting the
foregoing clause (b), the amendment and restatement of the Existing Credit
Agreement as contemplated hereby shall not be construed to discharge or
otherwise affect any obligations of the Borrowers accrued or otherwise owing
under the Existing Credit Agreement that have not been paid as contemplated
hereby, it being understood that such obligations will constitute obligations
under the Restated Credit Agreement.

(d) Each Borrower hereby (i)
agrees that the Restated Credit Agreement and the transactions contemplated
hereby and thereby shall not limit or diminish the obligations of such Borrower
arising under or pursuant to the Loan Documents to which it is a party, (ii)
reaffirms all of its obligations under the Loan Documents to which it is a
party, (iii) reaffirms all Liens on any collateral (including the Collateral)
which have been granted by it in favor of the Administrative Agent pursuant to
any of the Loan Documents (and any filings made in connection therewith), and
(iv) acknowledges and agrees that each Loan Document executed by it remains in
full force and effect and is hereby reaffirmed, ratified and confirmed.

2. Commitments; Departing
Lenders; Reallocation; Indemnification. Effective upon the Restatement Effective Date: 

(a) Each Lender (whether an
Existing Lender or a new Lender) that, on or prior to the date hereof, has
executed and delivered to the Administrative Agent (or its counsel) a
counterpart of this Agreement as an “Lender” (or evidence thereof as
contemplated by Section 3(a) below) shall be a Lender under and for all purposes of (and agrees that
it will be a party to and bound by) the Restated Credit Agreement. Each such
Lender shall have the Revolving Loan Commitment reflected for such Lender on
Exhibit A to the Restated Credit Agreement. The existing “Revolving Loan
Commitments” (under and as defined in the Existing Credit Agreement) of the
Existing Lenders shall be reevidenced, reallocated and supplemented under the
Restated Credit Agreement as Revolving Loan Commitments (as reflected on Exhibit
A to the Restated Credit Agreement), and the existing “Revolving Loans” (under
and as defined in the Existing Credit Agreement) of any Existing Lender shall be
reevidenced, reallocated and supplemented as
necessary under the Restated Credit Agreement as Revolving Loans thereunder.

2 

(b) Each Existing Lender that,
on or prior to the date hereof, has executed and delivered to the Administrative
Agent (or its counsel) a counterpart of this Agreement as a “Departing Lender”
(or evidence thereof as contemplated by Section 3(a) below) shall
be a Departing Lender for purposes of this Agreement. Each Departing Lender
shall cease to be a party to the Existing Credit Agreement as of the Restatement
Effective Date upon receipt of all Obligations owing to it under the Existing
Credit Agreement (other than contingent indemnity obligations), and no Departing
Lender shall have any rights, duties or obligations thereunder other than rights
to indemnification which by their terms survive termination thereof. No
Departing Lender shall have a Revolving Loan Commitment on and after the
Restatement Effective Date. All amounts owing to a Departing Lender shall be
paid to such Departing Lender as of the date hereof. The consent of any
Departing Lender to this Agreement shall be limited to the acknowledgements and
agreements set forth in this Section 2 and shall not be
required as a condition to the effectiveness of any other amendments,
restatements, supplements or modifications to the Existing Credit Agreement or
the Loan Documents as contemplated by this Agreement or the Restated Credit
Agreement.

(c) JPMCB shall no longer
constitute the Existing Swing Line Bank and JPMCB’s “Swing Line Commitment” (as
defined in the Existing Credit Agreement) shall be terminated. As a condition to
the effectiveness hereof, the Borrowers shall repay all Swing Line Loans and
interest thereon outstanding as of the Restatement Effective Date. 

(d) The Administrative Agent
shall make such reallocations, sales, assignments or other relevant actions in
respect of each Lender’s and each Departing Lender’s Revolving Loans and other
credit exposure under the Existing Credit Agreement as are necessary in order
that (i) in the case of each Lender, such Lender’s Revolving Loans and credit
exposure reflects such Lender’s Pro Rata Share of the outstanding aggregate
Revolving Loans and credit exposure on the Restatement Effective Date and (ii)
in the case of each Departing Lender, such Departing Lender shall have received
payment in full of all amounts owing to such Departing Lender as contemplated by
clause (b) above.

(e) The Existing Lenders party
hereto hereby waive any requirement under the Existing Credit Agreement for
prior notice of any termination or reduction of Commitments under (and as
defined in) the Existing Credit Agreement or prepayment of Revolving Loans
outstanding under (and as defined in) the Existing Credit Agreement, in each
case to be made on the Restatement Effective Date as provided herein.

The Borrowers hereby agree
to compensate each Lender and each Departing Lender for any and all losses,
costs and expenses incurred by such Lender in connection with any reallocations,
sales or assignments of Eurocurrency Rate Loans (including the “Eurocurrency
Rate Loans” under the Existing Credit Agreement) to effect this Section 2, in each case on the terms and in the manner set forth in Section 4.4 of
the Restated Credit Agreement. 

3. Conditions of
Effectiveness. The amendment and
restatement of the Existing Credit Agreement pursuant to Section 1 of this Agreement shall become effective as of the first date (the
“Restatement Effective
Date”) on which each of the
following conditions shall have been
satisfied:

3 

(a) The Administrative Agent
(or its counsel) shall have received from each of the Borrowers, the Lenders,
the Departing Lenders and the Existing Swing Line Bank either a counterpart of
this Agreement signed on behalf of such party or written evidence satisfactory
to the Administrative Agent (which may include facsimile or other electronic
transmission of a signed signature page of this Agreement) that such party has
signed a counterpart of this Agreement. 

(b) The Administrative Agent
shall have received favorable written opinions (addressed to the Administrative
Agent and the Lenders (as defined in the Restated Credit Agreement) and dated
the Restatement Effective Date) of (i) the U.S. counsels to the Company and the
Subsidiary Guarantors, (ii) the Irish counsel to the Subsidiary Borrower and
(iii) the foreign local counsel of each Foreign Subsidiary Guarantor, in each
case in form and substance reasonably satisfactory to the Administrative Agent
and covering such matters relating to the Loan Parties, the Loan Documents, this
Agreement and the transactions contemplated hereby as the Administrative Agent
shall reasonably request. The Borrowers hereby request such counsel to deliver
such opinion. 

(c) The Lenders shall have
received (i) satisfactory audited consolidated financial statements of the
Company for the two most recent fiscal years ended prior to the Restatement
Effective Date as to which such financial statements are available, (ii)
satisfactory unaudited interim consolidated financial statements of the Company
for each quarterly period ended subsequent to the date of the latest financial
statements delivered pursuant to clause (i) of this paragraph as to which such
financial statements are publicly available and (iii) satisfactory financial
statement projections through and including the Company’s 2020 fiscal year,
together with such information as the Administrative Agent and the Lenders shall
reasonably request (including, without limitation, a detailed description of the
assumptions used in preparing such projections). 

(d) The Administrative Agent
shall have received such documents and certificates as the Administrative Agent
or its counsel may reasonably request, including without limitation documents
and certificates relating to the organization, existence and good standing of
the Loan Parties and the authorization of this Agreement (including the Restated
Credit Agreement) and the transactions contemplated hereby and any other legal
matters relating to the Loan Parties, the Loan Documents or this Agreement
(including the Restated Credit Agreement) and the transactions contemplated
hereby, all in form and substance reasonably satisfactory to the Administrative
Agent and its counsel and as further described in the list of closing documents
attached as Exhibit
E to the Restated Credit
Agreement. 

(e) The representations and
warranties of the Loan Parties set forth in the Loan Documents shall be true and
correct in all material respects as of the Restatement Effective Date (except to
the extent any representation and warranty expressly relates to an earlier date,
in which case such representation and warranty shall be true and correct in all
material respects as of such earlier date), no Unmatured Default or Default
shall have occurred and be continuing as of the Restatement Effective Date, and
the Administrative Agent shall have received a certificate, dated as of the
Restatement Effective Date and signed by the president, a vice president or a financial officer of the Company,
confirming the foregoing. 

4 

(f) The Administrative Agent
shall have received a certificate, dated as of the Restatement Effective Date,
of a Designated Financial Officer of the Company demonstrating to the
satisfaction of the Administrative Agent (i) a computation of Collateral Value
Amount as of the most recently completed fiscal quarter for which financial
statements are available and (ii) that the Collateral Value Amount as of such
date shall be greater than the Facilities Obligations Amount on the Restatement
Effective Date (after giving effect to the transactions contemplated hereby and
by the Restated Credit Agreement). 

(g) Liens creating a first
priority security interest in the Collateral shall have been granted and/or
reaffirmed (as necessary) and perfected to the reasonable satisfaction of the
Administrative Agent. 

(h) The Administrative Agent
shall have received evidence reasonably satisfactory to it that all governmental
and third party approvals necessary in connection with the Restated Credit
Agreement, the transactions contemplated thereby and the continuing operations
of the Company and its Subsidiaries have been obtained and are in full force and
effect. 

(i) (x) The Administrative
Agent shall have received (i) all fees and other amounts due and payable on or
prior to the Restatement Effective Date, including, to the extent invoiced,
reimbursement or payment of all out-of-pocket expenses required to be reimbursed
or paid by the Company under the Loan Documents and (ii) all Swing Line Loans
and all accrued and unpaid interest and fees under the Existing Credit
Agreement, and (y) each Departing Lender shall have received payment in full of
all Obligations owing to it under the Existing Credit Agreement as contemplated
by Section 2 hereof.

(j) Upon the occurrence of the
Restatement Effective Date, the Administrative Agent shall notify the Company
and the Lenders (both under the Existing Credit Agreement and the Restated
Credit Agreement) of the Restatement Effective Date, and such notice shall be
conclusive and binding. 

4. Consent to Amendment of
Loan Documents. Immediately upon
the effectiveness hereof, the Lenders hereby consent to such amendments to the
Loan Documents (including any Exhibits, Schedules or Annexes thereto) now or
hereafter as the Administrative Agent shall approve to effect the transactions
contemplated by this Agreement and the Restated Credit Agreement. The Company
agrees to enter into (and, as necessary, to cause the other Loan Parties to
enter into) such amendments.

5. No
Novation. Neither this Agreement
nor the Restated Credit Agreement shall extinguish the Loans or other
Obligations outstanding under the Existing Credit Agreement. This Agreement
shall be a Loan Document for all purposes. 

6. Governing
Law. This Agreement shall be
construed in accordance with and governed by the law of the State of New York.

7. Headings. Section headings in this Agreement are included
herein for convenience of reference only and shall not constitute a part of this
Agreement for any other purpose.

5 

8. Counterparts. This Agreement may be executed by one or more of
the parties hereto on any number of separate counterparts, and all of said
counterparts taken together shall be deemed to constitute one and the same
instrument. Delivery of an executed counterpart of a signature page of this
Agreement by telecopy, e-mailed .pdf or any other electronic means that
reproduces an image of the actual executed signature page shall be effective as
delivery of a manually executed counterpart of this Agreement. The words
“execution,” “signed,” “signature,” “delivery,” and words of like import in or
relating to any document to be signed in connection with this Agreement and the
transactions contemplated hereby shall be deemed to include Electronic
Signatures, deliveries or the keeping of records in electronic form, each of
which shall be of the same legal effect, validity or enforceability as a
manually executed signature, physical delivery thereof or the use of a
paper-based recordkeeping system, as the case may be, to the extent and as
provided for in any applicable law, including the Federal Electronic Signatures
in Global and National Commerce Act, the New York State Electronic Signatures
and Records Act, or any other similar state laws based on the Uniform Electronic
Transactions Act.

[Signature Pages Follow]

6 

IN WITNESS WHEREOF, this Agreement has been duly executed as of the day
and year first above written. 

	MERITOR, INC. (formerly known as
	ArvinMeritor, Inc.), as the
Company
		 
	By  	/s/ Kevin Nowlan	 
		Name: Kevin
      Nowlan
	 	Title: Senior
      Vice President and Chief
		Financial
      Officer
		 
		 
	ARVINMERITOR FINANCE IRELAND
	UNLIMITED COMPANY, as Subsidiary
	Borrower
		 
	By 	/s/ Todd Chirillo	 
		Name: Todd
      Chirillo
		Title:
      Director

Signature Page to Third Amendment
and Restatement Agreement
Meritor, Inc. 

	JPMORGAN CHASE BANK, N.A., as a
	Lender, an Issuing Bank, the Existing
      Swing
	Line Bank and as Administrative
  Agent
	 	 
		 
	By  	/s/ Robert P. Kellas	 
		Name: Robert P.
      Kellas
		Title: Executive
      Director

Signature
Page to Third Amendment and Restatement Agreement
Meritor, Inc. 

	BANK OF AMERICA, N.A., as a Lender
	and an Issuing Bank
		 
		 
	By 	/s/ Brian Lukehart	 
		Name: Brian Lukehart
		Title:
Director

Signature
Page to Third Amendment and Restatement Agreement
Meritor, Inc. 

	ROYAL BANK OF CANADA, as a Lender
	and an Issuing
      Bank
		 
		 
	By 
    	/s/ Edward D. Herko	 
		Name: Edward D. Herko
		Title: Authorized
  Signatory

Signature
Page to Third Amendment and Restatement Agreement
Meritor, Inc. 

	PNC BANK, NATIONAL ASSOCIATION,
	as a Lender and an Issuing Bank
		 
		 
	By 	/s/ Scott
Neiderheide	 
		Name: Scott Neiderheide
		Title: Vice
President

Signature
Page to Third Amendment and Restatement Agreement
Meritor, Inc. 

	BNP PARIBAS, as a Lender
		 
		 
	By  	/s/ Todd Grossnickle	 
		Name: Todd
      Grossnickle
		Title:
      Director
	 	 
	By 	/s/ Michael Hoffman	 
		Name: Michael
      Hoffman
		Title:
      Director

Signature
Page to Third Amendment and Restatement Agreement
Meritor, Inc. 

	THE ROYAL BANK OF SCOTLAND PLC
	(TRADING AS NATWEST MARKETS), as a
    Lender
		 
	 	 
	By  	/s/ Edward Brown	 
		Name: Edward
      Brown
		Title: Authorized
      Signatory

Signature
Page to Third Amendment and Restatement Agreement
Meritor, Inc. 

	FIFTH THIRD BANK, as a Lender
		 
		 
	By  	/s/ Mike Gifford	 
		Name: Mike
      Gifford
		Title: Vice
      President

Signature
Page to Third Amendment and Restatement Agreement
Meritor, Inc. 

	THE HUNTINGTON NATIONAL BANK,
	as a Lender
	 	 
		 
	By  	/s/ Steven J.
      McCormack	 
		Name: Steven J.
      McCormack
		Title: Senior
      Vice President

Signature
Page to Third Amendment and Restatement Agreement
Meritor, Inc. 

	U.S. BANK NATIONAL ASSOCIATION,
	as a Lender
	 	
		 
	By  	/s/ Jeffrey S. Johnson	 
		Name: Jeffrey S.
      Johnson
		Title: Senior
      Vice President

Signature
Page to Third Amendment and Restatement Agreement
Meritor, Inc. 

	CITIZENS BANK, N.A., as a Lender
		 
	 	
	By  	/s/ Stephen A.
    Maenhout	 
		Name: Stephen A.
      Maenhout
		Title: Senior
      Vice President

Signature
Page to Third Amendment and Restatement Agreement
Meritor, Inc. 

	COMERICA BANK, as a Lender
		 
	 	 
	By  	/s/ Nicole Swigert	 
		Name: Nicole
      Swigert
		Title: Vice
      President

Signature
Page to Third Amendment and Restatement Agreement
Meritor, Inc. 

	CITICORP NORTH AMERICA, INC.,
	as a Departing Lender
	 	
		 
	By  	/s/ Sarah Terner	 
		Name: Sarah
      Terner
		Title: Senior
      Vice President

Signature
Page to Third Amendment and Restatement Agreement
Meritor, Inc. 

	CAPITAL ONE LEVERAGE FINANCE
CORP.,
	as a Departing Lender
		 
		 
	By  	/s/ Thomas L. Savage	 
		Name: Thomas L.
      Savage
		Title: Senior
      Vice President

Signature
Page to Third Amendment and Restatement Agreement
Meritor, Inc. 

	LLOYDS BANK PLC,
	as a Departing Lender
		 
		 
	By  	/s/ ErinWalsh	 
		Name: Erin
      Walsh
		Title: Assistant
      Vice President
		 
	By  	/s/ Lauren Popat	 
		Name: Lauren
      Popat
		Title: Senior
      Vice President

Signature
Page to Third Amendment and Restatement Agreement
Meritor, Inc. 

	DEUTSCHE BANK AG NEW YORK BRANCH,
	as a Departing Lender
		 
	 	 
	By  	/s/ Peter Cucchiara	 
		Name: Peter
      Cucchiara
		Title: Vice
      President
		 
	By 	/s/ Dusan Lazarov	 
		Name: Dusan
      Lazarov
		Title:
      Director

Signature
Page to Third Amendment and Restatement Agreement
Meritor, Inc. 

EXHIBIT A
TO

THIRD AMENDMENT AND
RESTATEMENT AGREEMENT 

THIRD AMENDED AND
RESTATED CREDIT AGREEMENT 

(attached)

EXECUTION COPY

THIRD AMENDED AND
RESTATED CREDIT AGREEMENT 

Dated as of March 31, 2017

among 

MERITOR, INC.

and 

ARVINMERITOR FINANCE
IRELAND UNLIMITED COMPANY
as
the Borrowers 

THE INSTITUTIONS FROM
TIME TO TIME PARTIES HERETO AS LENDERS 

JPMORGAN CHASE BANK,
N.A.
as Administrative Agent

BANK OF AMERICA, N.A.,
ROYAL BANK OF CANADA 
and
PNC BANK, NATIONAL
ASSOCIATION
as Co-Syndication
Agents 

	 
	JPMORGAN CHASE BANK,
      N.A.,
MERRILL LYNCH, PIERCE, FENNER & SMITH
      INCORPORATED,
RBC CAPITAL MARKETS1
and
PNC CAPITAL MARKETS LLC
as Joint Lead Arrangers and Joint Book
      Runners
	 

____________________

1 RBC Capital Markets is a brand name for the
capital markets businesses of Royal Bank of Canada and its affiliates.

TABLE OF
CONTENTS 

	
      Section
		 		Page
	ARTICLE I: DEFINITIONS AND GENERALLY
      APPLICABLE PRINCIPLES		1
	       	1.1.	       	Certain Defined
      Terms	       	1
		1.2.		References		38
		1.3.		Company Acting on
      Behalf of Itself and Subsidiary Borrower		39
		1.4.		Joint and Several
      Liability for Obligations of the Company and for		
				      
      Obligations of the Subsidiary Borrower; No Liability of
    Subsidiary		
				       Borrower
      for Obligations of the Company		39
		 
	ARTICLE II: LOAN FACILITIES		40
		2.1.		Revolving Loans
      and Term Loans		40
		2.2.		[Reserved]		41
		2.3.		Rate Options for
      all Advances; Maximum Interest Periods		41
		2.4.		Optional
      Payments; Mandatory Prepayments		42
		2.5.		Voluntary
      Reduction of Commitments		43
		2.6.		Method of
      Borrowing of Revolving Loans		44
		2.7.		Method of
      Selecting Classes, Types, Currency and Interest Periods for		
				       New
      Advances		44
		2.8.		Minimum Amount of
      Each Revolving Advance		44
		2.9.		Method of
      Selecting Types, Currency and Interest Periods for Conversion		
				       and Continuation
      of Outstanding Advances		44
		2.10.		Default
      Rate		45
		2.11.		Method of
      Payment		46
		2.12.		Evidence of
      Debt		46
		2.13.		Telephonic
      Notices		47
		2.14.		Promise to Pay;
      Interest Payment Dates; Fees; Interest and Fee Basis;		
				      
      Taxes		47
		2.15.		Notification of
      Advances, Interest Rates, Prepayments and Aggregate		
				       Revolving
      Loan Commitment Reductions		54
		2.16.		Lending
      Installations		54
		2.17.		Non-Receipt of
      Funds by the Administrative Agent		54
		2.18.		Termination of
      Agreement		55
		2.19.		Replacement of
      Certain Lenders		55
		2.20.		Judgment
      Currency		56
		2.21.		Market
      Disruption; Denomination of Amounts in Dollars; Dollar		
				       Equivalent
      of Reimbursement Obligations		56
		2.22.		Certain
      Provisions Applicable to Defaulting Lenders		57
		2.23.		Incremental
      Facilities		59
		2.24.		Future Extensions
      of Maturity		61
		2.25.		MIRE
    Events		61

i 

	ARTICLE III: THE LETTER OF CREDIT
      FACILITY		62
	      
    	3.1.	      
    	Obligation to
      Issue Letters of Credit	      
    	62
		3.2.		[Reserved]		62
		3.3.		Types and
      Amounts		62
		3.4.		Conditions		63
		3.5.		Procedure for
      Issuance of Letters of Credit		63
		3.6.		Letter of Credit
      Participation		64
		3.7.		Reimbursement
      Obligation		65
		3.8.		Letter of Credit
      Fees		66
		3.9.		Issuing Bank
      Reporting Requirements		66
		3.10.		Indemnification;
      Exoneration		67
		3.11.		Collateral
      Account		68
		3.12.		Rights as a
      Lender		68
		3.13.		Replacement and
      Resignation of Issuing Bank		69
	 	
	ARTICLE IV: CHANGE IN CIRCUMSTANCES		69
		4.1.		Yield
      Protection		69
		4.2.		Changes in
      Capital Adequacy Regulations		70
		4.3.		Availability of
      Types of Advances		70
		4.4.		Funding
      Indemnification		71
		4.5.		Lender
      Statements; Survival of Indemnity		71
	 	
	ARTICLE V: CONDITIONS PRECEDENT		71
		5.1.		Effectiveness		71
		5.2.		Each Advance and
      Letter of Credit		71
	 	
	ARTICLE VI: REPRESENTATIONS AND
      WARRANTIES		72
		6.1.		Corporate
      Existence and Standing		72
		6.2.		Authorization,
      Validity and Enforceability		73
		6.3.		No Conflict;
      Consent		73
		6.4.		Financial
      Statements		73
		6.5.		Material Adverse
      Change		73
		6.6.		Taxes		73
		6.7.		Litigation and
      Contingent Obligations		74
		6.8.		Subsidiaries		74
		6.9.		ERISA; Foreign
      Plans; Multiemployer Plans		74
		6.10.		Accuracy of
      Information		74
		6.11.		Regulation
      U		75
		6.12.		Material
      Agreements		75
		6.13.		Compliance With
      Laws		75
		6.14.		Plan Assets;
      Prohibited Transactions		75
		6.15.		Environmental
      Matters		75
		6.16.		Investment
      Company Act		76
		6.17.		ArvinMeritor
      Receivables Corporation		76

ii 

	       	6.18.	       	Ownership of
      Properties	       	76
		6.19.		Insurance		76
		6.20.		No Default or
      Unmatured Default		76
		6.21.		Solvency		76
		6.22.		Benefits		76
		6.23.		Anti-Corruption Laws and Sanctions		77
		6.24.		Additional
      Representations and Warranties of the Subsidiary Borrower		77
		6.25.		EEA Financial Institution		78
	 	
	ARTICLE VII:
      COVENANTS		78
		7.1.		Reporting		78
		7.2.		Affirmative
      Covenants		80
		7.3.		Negative Covenants		86
		7.4.		Financial
      Covenants		96
		7.5.		Canadian Tax Restructuring		96
	 	
	ARTICLE VIII:
      DEFAULTS		97
		8.1.		Defaults		97
	 	
	ARTICLE IX:
      ACCELERATION; WAIVERS, AMENDMENTS AND REMEDIES		99
		9.1.		Termination of Revolving Loan Commitments;
      Acceleration		99
		9.2.		Preservation of
      Rights		100
		9.3.		Amendments; Waivers		101
	 	
	ARTICLE X: GENERAL PROVISIONS		102
		10.1.		Survival of Representations		102
		10.2.		Governmental
      Regulation		102
		10.3.		Accounting		102
		10.4.		Headings		103
		10.5.		Entire Agreement		103
		10.6.		Several
      Obligations; Benefits of this Agreement		103
		10.7.		Expenses; Indemnification		103
		10.8.		Numbers of
      Documents		105
		10.9.		Confidentiality		105
		10.10.		Severability of
      Provisions		106
		10.11.		Nonliability of Lenders		106
		10.12.		GOVERNING
      LAW		106
		10.13.		CONSENT TO JURISDICTION; SERVICE OF PROCESS;
      JURY		
				      
      TRIAL		107
		10.14.		Subordination of
      Intercompany Indebtedness		108
		10.15.		Performance of Obligations		109
		10.16.		Acknowledgment
      and Consent to Bail-In of EEA Financial Institutions		109

iii 

	ARTICLE XI: THE ADMINISTRATIVE AGENT	      
    	110
	       	11.1.	       	Appointment;
      Nature of Relationship		110
		11.2.		Powers		111
		11.3.		General
      Immunity		111
		11.4.		No Responsibility
      for Loans, Creditworthiness, Recitals, Etc.		111
		11.5.		Action on
      Instructions of Lenders		111
		11.6.		Employment of
      Administrative Agent and Counsel		112
		11.7.		Reliance on
      Documents; Counsel		112
		11.8.		The
      Administrative Agent’s Reimbursement and Indemnification		112
		11.9.		Rights as a
      Lender		112
		11.10.		Lender Credit
      Decision		113
		11.11.		Successor
      Administrative Agent		113
		11.12.		No Duties Imposed
      Upon Co-Syndication Agents or Arrangers		113
		11.13.		Notice of
      Default		113
		11.14.		Delegation to
      Affiliates		114
		11.15.		Authority with
      Respect to Guarantees and Collateral Documents		114
		11.16.		Foreign
      Collateral Authorizations		115
		11.17.		Flood
    Laws		116
		 
	ARTICLE XII: SETOFF; RATABLE PAYMENTS;
      APPLICATION OF PROCEEDS		116
		12.1.		Setoff		116
		12.2.		Ratable
      Payments		117
		12.3.		Relations Among
      Lenders		117
		12.4.		Application of
      Proceeds		117
		12.5.		Disclosure		118
		12.6.		Nonreliance		118
		12.7.		Representations
      and Covenants Among Lenders		118
		 
	ARTICLE XIII: BENEFIT OF AGREEMENT;
      ASSIGNMENTS; PARTICIPATIONS		119
		13.1.		Successors and
      Assigns		119
		13.2.		Participations		119
		13.3.		Assignments		121
		13.4.		Dissemination of
      Information		123
		13.5.		Tax
      Certifications		123
		 
	ARTICLE XIV: NOTICES		123
		14.1.		Giving
      Notice		123
		14.2.		Change of
      Address		125
		14.3.		USA PATRIOT ACT
      NOTIFICATION		125

iv 

	ARTICLE XV:
      COUNTERPARTS; EFFECTIVENESS; ELECTRONIC EXECUTION	      
    	125
	 		
	ARTICLE XVI:
      CROSS-GUARANTY		125

v 

	EXHIBITS AND SCHEDULES
	 
	Exhibits
	 
	EXHIBIT A	          	--	     	Revolving Loan Commitments
					(Definitions)
	EXHIBIT B		--		Form of Borrowing/Election Notice
					(Section 2.7
      and Section 2.9)
	EXHIBIT C		--		Form of Request for Letter of
    Credit
					(Section 3.4)
	EXHIBIT D		--		Form of Assignment Agreement
					(Definitions and Section 13.3)
	EXHIBIT E		--		List of Closing Documents
					(Third Amendment and Restatement
      Agreement)
	EXHIBIT F		--		Form of Compliance Certificate
					(Section 5.2
      and Section 7.1(C)(i))
	EXHIBIT G-1		--		Form of Revolving Loan Note
					(If Requested) (Section 2.12(B))
	EXHIBIT G-2				Form of Term Loan Note
					(If
      Requested) (Section
      2.12(B))
	EXHIBIT H		--		Form of Collateral Value
    Certificate
					(Definitions and Section 7.1(C)(ii))
	EXHIBIT I		--		Form of Commitment and Acceptance
					(Definitions and Section 2.23)

vi 

	Schedules
	 
	Pricing
      Schedule				
	 				
	Schedule 1.1.1	          		     	Initial Mortgaged Properties
	 				
	Schedule
    1.1.2		--		Permitted Existing
      Indebtedness
	 				
	Schedule 1.1.3		--		Issuing Bank Commitment
	 				
	Schedule
6.7		--		Litigation
	 				
	Schedule 6.8		--		Subsidiaries
	 				
	Schedule
    7.3(E)		--		Existing
      Investments
	 				
	Schedule 7.3(F)		--		Existing Liens
	 				
	Schedule
7.5		--		Canadian Tax
      Restructuring

vii 

THIRD AMENDED AND
RESTATED CREDIT AGREEMENT 

This THIRD AMENDED AND
RESTATED CREDIT AGREEMENT, dated as of March 31, 2017 is entered into by and
among Meritor, Inc. (formerly known as ArvinMeritor, Inc.), an Indiana
corporation, as the Company, ArvinMeritor Finance Ireland Unlimited Company, a
private unlimited liability company incorporated under the laws of Ireland, as
the Subsidiary Borrower, the institutions from time to time parties hereto as
Lenders, whether by execution of this Agreement or an Assignment Agreement
pursuant to Section
13.3, JPMorgan Chase Bank, N.A.,
as Administrative Agent for itself and the other Lenders and Bank of America,
N.A., Royal Bank of Canada and PNC Bank, National Association, as Co-Syndication
Agents.

WHEREAS, pursuant to the Third Amendment and Restatement
Agreement, the Borrowers have requested, and the Lenders party thereto and the
Administrative Agent have agreed, upon the terms and subject to the conditions
set forth therein, that the Existing Credit Agreement be further amended and
restated in its entirety as provided herein effective upon satisfaction of the
conditions set forth in the Third Amendment and Restatement Agreement.

NOW,
THEREFORE, the parties hereto
agree as follows: 

ARTICLE I: DEFINITIONS
AND GENERALLY APPLICABLE PRINCIPLES 

1.1. Certain Defined Terms. The following terms used in this Agreement shall
have the following meanings, applicable both to the singular and the plural
forms of the terms defined. 

As used in this Agreement:

“4.0% Convertible Notes” means the Company’s 4.0% convertible notes due
2027 issued under the 2007 Convertible Note Indenture, in an aggregate
outstanding principal amount of $143,000,000 as of the Restatement Effective
Date.

“4.0% Convertible Notes Permitted
Put” means the exercise by
the holders of 4.0% Convertible Notes of their option to require the Company to
repurchase such notes on February 15, 2019 and February 15, 2022 under and in
accordance with the terms of the 2007 Convertible Note Indenture. 

“6.75% Senior Notes” means the Company’s 6.75% notes due 2021 issued
under the 1998 Senior Note Indenture, in an aggregate outstanding principal
amount of $275,000,000 as of the Restatement Effective Date. 

“7.875% Convertible Notes” means the Company’s 7.875% convertible notes due
2026 issued under the 2012 Convertible Note Indenture, in an aggregate
outstanding principal amount of $139,999,000 as of the Restatement Effective
Date. 

“7.85% Convertible Notes Permitted
Put” means the exercise by
the holders of 7.85% Convertible Notes of their option to require the Company to
repurchase such notes on December 1, 2020 under and in accordance with the terms
of the 2012 Convertible Note Indenture. 

1 

“1998 Senior Note Indenture” means that certain Indenture, dated as of April
1, 1998, between the Company (as successor to Meritor Automotive, Inc.) and BNY
Midwest Trust Company (as successor to The Chase Manhattan Bank), as Trustee, as
amended, restated, supplemented or otherwise modified from time to time in
accordance with the terms of Section 7.3(K) hereof. For purposes of cross-references in any Collateral Document to
specific terms under and as defined in the 1998 Senior Note Indenture, the term
“1998 Senior Note Indenture” shall be deemed to mean and include a reference to
the aforementioned indenture as well as each other Senior Note Indenture that
has substantially identical defined terms. 

“2007 Convertible Note
Indenture” means that certain
Indenture, dated as of February 8, 2007, between the
Company and The Bank of New York Trust Company, as Trustee, as amended,
restated, supplemented or otherwise modified from time to time in accordance
with the terms of Section
7.3(K) hereof. 

“2012 Convertible Note
Indenture” means that certain
Indenture, dated as of December 4, 2012, between the
Company and The Bank of New York Mellon Trust Company, N.A., as Trustee, as
amended, restated, supplemented or otherwise modified from time to time in
accordance with the terms of Section 7.3(K) hereof.

“Accounting Changes” is defined in Section 10.3 hereof. 

“Acquisition” means any transaction, or any series of related
transactions, consummated on or after the date of this Agreement, by which the
Company or any of its Subsidiaries (i) acquires any going business or all or
substantially all of the assets of any firm, corporation, partnership or limited
liability company, or division thereof, whether through purchase of assets,
merger or otherwise or (ii) directly or indirectly acquires (in one transaction
or as the most recent transaction in a series of transactions) at least a
majority (in number of votes) of the securities of a corporation which have
ordinary voting power for the election of directors (other than securities
having such power only by reason of the happening of a contingency) or a
majority (by percentage or voting power) of the outstanding ownership interests
of a partnership or limited liability company; provided, that any transaction among the Company and/or one or more Subsidiaries
expressly permitted under Section
7.3 shall not constitute an
Acquisition. 

“Adjusted Eurocurrency Base
Rate” means, with respect to
any Eurocurrency Rate Loan for any Interest Period, an interest rate per annum
(rounded upwards, if necessary, to the next 1/16 of 1%) equal to (i) the
Eurocurrency Base Rate for such Interest Period multiplied by (ii) the Statutory
Reserve Rate. 

“Administrative Agent” means JPMCB in its capacity as contractual
representative for itself and the Lenders pursuant to Article XI hereof and any successor Administrative Agent appointed pursuant to
Article XI hereof. 

“Advance” means a borrowing hereunder consisting of the aggregate amount of the
several Revolving Loans or Term Loans, as applicable, made by the Lenders to a
Borrower of the same Class and Type and, in the case of Eurocurrency Rate
Advances, in the same Agreed Currency and for the same Interest Period.

“Affected Lender” is defined in Section 2.19 hereof. 

2 

“Affiliate” of any Person means any other Person directly or
indirectly controlling, controlled by or under common control with such Person.
A Person shall be deemed to control another Person if the controlling Person (i)
is the “beneficial owner” (as defined in Rule 13d-3 under the Securities
Exchange Act) of greater than or equal to ten percent (10%) or more of the
combined voting power of the controlled Person (giving effect to the relative
voting rights associated with the voting securities or other voting interests
held by the controlling Person) or (ii) possesses, directly or indirectly, the
power to direct or cause the direction of the management or policies of the
controlled Person, whether through ownership of Capital Stock, by contract or
otherwise; provided, that under no
circumstance shall any Agent or any Lender be deemed to be an Affiliate of the
Company or vice versa. 

“Agent Party” has the meaning assigned to such term in
Section 14.1. 

“Agents” means, collectively, the Administrative Agent and the Co-Syndication
Agents. 

“Aggregate Revolving Loan
Commitment” means the
aggregate of the Revolving Loan Commitments then in effect of all the Revolving
Loan Lenders, as the same may be reduced or increased from time to time pursuant
to the terms hereof. As of the Restatement Effective Date, after giving effect
to the transactions contemplated by the Third Amendment and Restatement
Agreement, the Aggregate Revolving Loan Commitment is $525,000,000. 

“Agreed Currencies” means (i) Dollars, (ii) euro, (iii) Pounds
Sterling and (iv) any other currency (x) that is a lawful currency (other than
Dollars) that is readily available and freely transferable and convertible into
Dollars, (y) for which a LIBOR Screen Rate is available in the Administrative
Agent’s determination and (z) that is agreed to by the Administrative Agent and
each of the Revolving Loan Lenders. 

“Agreement” means this Third Amended and Restated Credit
Agreement, as it may be further amended, restated, supplemented or otherwise
modified and in effect from time to time. 

“Agreement Accounting
Principles” means generally
accepted accounting principles as in effect in the United States of America from
time to time, applied in a manner consistent with that used in preparing the
financial statements of the Company referred to in Section 6.4; provided, however, that except as
provided in Section
10.3, with respect to the
calculation of the financial covenants set forth in Section 7.4 and any other financial tests set forth in this Agreement, “Agreement
Accounting Principles” means generally accepted accounting principles as in
effect in the United States of America as of the Restatement Effective Date,
applied in a manner consistent with that used in preparing the financial
statements of the Company referred to in Section 6.4 hereof.

“Alternate Base Rate” means, for any day (or if such day is not a
Business Day, the immediately preceding Business Day), a rate of interest per
annum equal to the highest of (i) the Prime Rate in effect on such day, (ii) the
sum of the NYFRB Rate in effect on such day plus 1⁄2 of 1%, and (iii) the Adjusted Eurocurrency Base Rate for a one month
Interest Period in Dollars on such day plus 1%; provided, that, for the avoidance of doubt, the Adjusted Eurocurrency Base Rate
for any day shall be based on the LIBOR Screen Rate (or if the LIBOR Screen Rate
is not available for such one month Interest Period, the Interpolated Rate) at
approximately 11:00 a.m. London time on such
day. Any change in the Alternate Base Rate due to a change in the Prime Rate,
the NYFRB Rate or the Adjusted Eurocurrency Base Rate shall be effective from
and including the effective date of such change in the Prime Rate, the NYFRB
Rate or the Adjusted Eurocurrency Base Rate, respectively. For the avoidance of
doubt, if the Alternate Base Rate shall be less than zero, such rate shall be
deemed to be zero for purposes of this Agreement. 

3 

“Alternative Rate” has the meaning assigned to such term in
Section 4.3. 

“Anti-Corruption Laws” means all laws, rules, and regulations of any
jurisdiction applicable to the Company or its Subsidiaries from time to time
concerning or relating to bribery or corruption. 

“Applicable Eurocurrency Margin” means, as at any date of determination, the rate
per annum then applicable to Eurocurrency Rate Loans of the applicable Class
determined in accordance with the provisions of the Pricing Schedule hereto
applicable to such Class. 

“Applicable Commitment Fee
Percentage” means, as at any
date of determination with respect to any Class of Revolving Loan Commitment,
the rate per annum then applicable in the determination of the amount payable
under Section
2.14(C)(i) hereof determined in
accordance with the provisions of the Pricing Schedule hereto applicable to such
Class. 

“Applicable Floating Rate
Margin” means, as at any date
of determination, the rate per annum then applicable to Floating Rate Loans of
the applicable Class determined in accordance with the provisions of the Pricing
Schedule hereto applicable to such Class. 

“Applicable L/C Fee Percentage” means, as at any date of determination, the rate
per annum then applicable in the determination of the amount payable under
Section 3.8(A) hereof determined in accordance with the
provisions of the Pricing Schedule applicable to the Revolving Loan Commitments.

“Applicable Pledge Percentage” means 100%, but 65% in the case of a pledge of
Capital Stock of a Foreign Subsidiary to the extent a 100% pledge would cause a
Deemed Dividend Problem. 

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

“A/R and Inventory Amount” means, as of any date of determination, the
aggregate net book value as of such date of all Collateral of the Loan Parties
subject to a first priority perfected Lien in favor of the Administrative Agent
(for the benefit of the Holders of Secured Obligations) that is not shared
equally and ratably with any other creditor, consisting of accounts receivable
(excluding intercompany accounts receivable and, for the avoidance of doubt,
excluding all Receivables of any Originator sold or transferred under a
Permitted Domestic Receivables Securitization) and inventory, determined in
accordance with generally accepted accounting principles as in effect in the
United States of America from time to time, but excluding any portion of the A/R
and Inventory Amount that constitutes Restricted Collateral. 

4 

“ARC” means ArvinMeritor Receivables Corporation, a Delaware corporation and
a SPV under the Company’s
Permitted Domestic Receivables Financing. 

“Arranger” means each of JPMCB, Merrill Lynch, Pierce,
Fenner & Smith Incorporated, RBC Capital Markets and PNC Capital Markets LLC
in its respective capacity as a joint lead arranger and joint book runner for
the loan transaction evidenced by this Agreement. 

“ArvinMeritor Sweden” means Arvinmeritor Sweden AB, a company
organized under the laws of Sweden. 

“Asset Sale” means, with respect to the Company or any of its
Subsidiaries, the sale, lease, conveyance, disposition or other transfer by such
Person of any of its assets (including by way of a sale-leaseback transaction,
and including the sale or other transfer of any of the Capital Stock of any
Subsidiary of such Person) to any Person other than (i) the sale or other
transfer of any assets by the Company to any Domestic Subsidiary Guarantor or by
any Domestic Subsidiary Guarantor to the Company or any other Domestic
Subsidiary Guarantor, (ii) the sale or other transfer of any assets by any
Foreign Subsidiary Guarantor or the Subsidiary Borrower to the Company, the
Foreign Subsidiary Borrower or any Subsidiary Guarantor, (iii) the sale or other
transfer of any assets by any Foreign Subsidiary Non-Guarantor to the Company or
any Subsidiary, (iv) the sale of Receivables and Related Security in connection
with a Permitted Receivables Financing or a Foreign Factoring Transaction, (v)
the sale of inventory in the ordinary course of business, (vi) the sale or other
transfer of obsolete or worn-out equipment; provided, however, that any capital
contribution or other transfer of assets in the form of an Investment permitted
under Section
7.3(E) shall not also be
considered an Asset Sale and (vii) the sale or other transfer by ArvinMeritor
Limited, a Foreign Subsidiary Guarantor, of its ownership interest in Meritor
Heavy Vehicle Systems Limited to a Foreign Subsidiary Non-Guarantor. 

“Assignment Agreement” means an assignment and assumption agreement
entered into in connection with an assignment pursuant to Section 13.3 hereof in substantially the form of
Exhibit D. 

“Authorized Officer” means any of the Chairman and Chief Executive
Officer, Senior Vice President and Chief Financial Officer, Vice President and
Treasurer and any Assistant Treasurer of the Company, or any person designated
by any such Person in writing to the Administrative Agent from time to time,
acting singly. 

“Bail-In Action” means the exercise of any Write-Down and
Conversion Powers by the applicable EEA Resolution Authority in respect of any
liability of an EEA Financial Institution. 

“Bail-In Legislation” means, with respect to any EEA Member Country
implementing Article 55 of Directive 2014/59/EU of the European Parliament and
of the Council of the European Union, the implementing law for such EEA Member
Country from time to time which is described in the EU Bail-In Legislation
Schedule.

5 

“Bankruptcy Event” means, with respect to any Person, such Person
becomes the subject of a bankruptcy or insolvency proceeding, or has had a
receiver, conservator, trustee, administrator, custodian, assignee for the
benefit of creditors or similar Person charged with the reorganization or
liquidation of its business appointed for it, or, in the good faith
determination of the Administrative Agent, 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 Bankruptcy Event shall not
result solely by virtue of any ownership interest, or the acquisition of any
ownership interest, in such Person or its direct or indirect parent by a
Governmental Authority or instrumentality thereof, provided, further, that such
ownership interest does not result in or provide such Person with immunity from
the jurisdiction of courts within the United States or from the enforcement of
judgments or writs of attachment on its assets or permit such Person (or such
Governmental Authority or instrumentality) to reject, repudiate, disavow or
disaffirm any contracts or agreements made by such Person. 

“Benefit Plan” means any Plan (other than a Multiemployer Plan)
which is covered by Title IV of ERISA or subject to the minimum funding
standards under Section 412 of the Code as to which the Company or any member of
the Controlled Group may have liability. 

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

“Borrower” means each of (i) the Company and (ii) the
Subsidiary Borrower, and “Borrowers” means, collectively, the Company and the
Subsidiary Borrower. 

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

“Borrowing/Election Notice” is defined in Section 2.7 hereof. 

“Business Day” means: 

	      
    	(a)	      
    	for the purpose of determining the
      Eurocurrency Base Rate, a day other than a Saturday or Sunday on which
      banks are open for the transaction of domestic and foreign exchange
      business in London, England and New York, New York;
		 
		(b)		for the purpose of any borrowing or payment
      of Loans denominated in Dollars or any other payment to be made in
      Dollars, a day other than a Saturday or Sunday on which banks are open for
      the transaction of domestic and foreign exchange business in New York, New
      York;
		 
		(c)		for the purpose of any borrowing or payment
      of Loans denominated in (A) euro, a day on which the TARGET2 payment
      system is open for settlement of payments in euro and (B) an Agreed
      Currency other than Dollars and euro, a day on which the applicable
      Eurocurrency Payment Office related to such currency is open for the
      transaction of domestic and foreign exchange business; and
		 
		(d)		for any other purpose, a day other than a
      Saturday or Sunday on which banks are generally open for the transaction
      of domestic and foreign exchange business in New York, New
  York.

“Canadian Tax Restructuring” is defined in Section 7.5 hereof. 

6 

“Capital Expenditures” means, for any period, the aggregate of all
expenditures by the Company and its consolidated Subsidiaries during that period
that, in conformity with Agreement Accounting Principles, are required to be
included in or reflected by the property, plant, equipment or similar fixed
asset accounts reflected in the consolidated balance sheet of the Company and
its Subsidiaries (which shall include, without limitation, Capital Leases).

“Capital Stock” means (i) in the case of a corporation,
corporate stock, (ii) in the case of an association or business entity, any and
all shares, interests, participations, rights or other equivalents (however
designated) of corporate stock, (iii) in the case of a limited liability
company, membership interests, (iv) in the case of a partnership, partnership
interests (whether general or limited) and (v) any other interest or
participation that confers on a Person the right to receive a share of the
profits and losses of, or distributions of assets of, the issuing Person
(including any warrants, options or other rights entitling the holder thereof to
purchase or acquire any of the foregoing); provided, however, that “Capital Stock” shall not include any debt
securities convertible into equity securities prior to such conversion.

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

“Capitalized Lease Obligations” of a Person means the amount of the obligations
of such Person under Capitalized Leases that would be capitalized on a balance
sheet of such Person prepared in accordance with Agreement Accounting
Principles. 

“Cash Equivalent Investments” means (i) direct obligations of, or obligations
the principal of and interest on which are unconditionally guaranteed by, the
United States of America (or by any agency thereof to the extent such
obligations are backed by the full faith and credit of the United States of
America), in each case maturing within one year from the date of acquisition
thereof; (ii) investments in commercial paper maturing within 270 days from the
date of acquisition thereof and, at such date of acquisition, rated A-2 or
better by S&P or P-2 or better by Moody’s; (iii) investments in certificates
of deposit, banker’s acceptances and time deposits maturing within 180 days from
the date of acquisition thereof issued or guaranteed by or placed with, and
money market deposit accounts issued or offered by, any domestic office of any
commercial bank organized under the laws of the United States of America or any
State thereof which has a combined capital and surplus and undivided profits of
not less than $500,000,000; (iv) shares of money market, mutual or similar funds
that (a) have assets in excess of $100,000,000, (b) invest primarily in assets
of the type described in clauses
(i)-(iii) above and (c) have an investment grade rating and (v) in the case of any
Foreign Subsidiary (in addition to the items permitted by the foregoing
clauses (i) through (iv)) any of the
following: (a) marketable direct obligations issued by, or unconditionally
guaranteed by, the sovereign nation in which such Foreign Subsidiary is
organized and is conducting business or issued by any agency of such sovereign
nation and backed by the full faith and credit of such sovereign nation, in each
case maturing within one year from the date of acquisition, so long as the
indebtedness of such sovereign nation is rated at least A by S&P or A2 by
Moody’s or carries an equivalent rating from a comparable foreign rating agency
if available, (b) investments of the type and maturity described in
clauses (ii),
(iii) and (iv) above of foreign obligors, which investments or obligors have ratings
described in such clauses or equivalent ratings from comparable foreign rating agencies if available, (c)
time deposits with any Lender or any Affiliate of any Lender and (d) time
deposits with any foreign bank not described in the foregoing clauses (b) or (c) in an aggregate amount not to exceed $10,000,000
in the aggregate for all Foreign Subsidiaries.

7 

“Change in Control” means (a) any “Change of Control” (or similar
term) under and as defined in, or within the meaning of, any Senior Note
Indenture (including any supplement thereto) or with respect to any series of
Senior Notes, and for any use or purpose in such Senior Note Indenture or Senior
Notes or (b) any event or series of events by which: 

(i) any “person” or “group”
(within the meaning of Sections 13(d) and 14(d)(2) of the Securities Exchange
Act) becomes the “beneficial owner” (as defined in Rule 13d-3 under the
Securities Exchange Act), directly or indirectly, of thirty-five percent (35%)
or more of the voting power of the then outstanding Capital Stock of the Company
entitled to vote generally in the election of the directors of the Company; or

(ii) the Company
consolidates with or merges into another corporation or conveys, transfers or
leases all or substantially all of its property to any person, or any
corporation consolidates with or merges into the Company, in either event
pursuant to a transaction in which the outstanding Capital Stock of the Company
is reclassified or changed into or exchanged for cash, securities or other
Property. 

“Change in Law” means the occurrence, after the date of this
Agreement (or with respect to any Lender, if later, the date on which such
Lender becomes a Lender), of any of the following: (a) the adoption or taking
effect of any law, rule, regulation or treaty, (b) any change in any law, rule,
regulation or treaty or in the administration, interpretation, implementation or
application thereof by any Governmental Authority, or (c) the making or issuance
of any request, rules, guideline, requirement or directive (whether or not
having the force of law) by any Governmental Authority; provided however, that notwithstanding anything herein to the
contrary, (i) the Dodd-Frank Wall Street Reform and Consumer Protection Act and
all requests, rules, guidelines, requirements and directives thereunder, issued
in connection therewith or in implementation thereof, and (ii) all requests,
rules, guidelines, requirements and directives promulgated by the Bank for
International Settlements, the Basel Committee on Banking Supervision (or any
successor or similar authority) or the United States or foreign regulatory
authorities, in each case pursuant to Basel III, shall in each case be deemed to
be a “Change in Law” regardless of the date enacted, adopted, issued or
implemented. 

“Class”, when used in reference to any Loan or Advance, refers to whether such
Loan, or the Loans comprising such Advance, are Revolving Loans or Incremental
Term Loans, and, when used in reference to any commitment, refers to whether
such commitment is a Revolving Loan Commitment, Incremental Revolving Loan
Commitment or Incremental Term Loan Commitment, and, when used in reference to
any Lender, refers to whether such Lender is a Revolving Loan Lender or a Lender
that holds Incremental Term Loans. 

“Closing Date” means June 23, 2006. 

“CNTA Amount” means 15% of Consolidated Net Tangible Assets.

8 

“Co-Syndication Agent” means each of Bank of America, N.A., Royal Bank
of Canada and PNC Bank, National Association in its capacity as a co-syndication
agent for itself and the Lenders. 

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

“Collateral” means the property covered by the Collateral
Documents, the L/C Collateral Account and any other Property, now existing or
hereafter acquired, that may at any time be or become subject to a security
interest or Lien in favor of the Administrative Agent, for the benefit of the
Holders of Secured Obligations, to secure the Secured Obligations.

“Collateral Documents” means all agreements, instruments and documents
executed in connection with this Agreement that are intended to create, perfect
or evidence Liens to secure the Secured Obligations, including, without
limitation, the Pledge and Security Agreement, the Intellectual Property
Security Agreements, the Mortgages and all other security agreements, mortgages,
deeds of trust, pledges, collateral assignments and financing statements whether
heretofore, now, or hereafter executed by the Company or any of its Subsidiaries
and delivered to the Administrative Agent. 

“Collateral Shortfall Amount” is defined in Section 9.1(A) hereof. 

“Collateral Value Amount” means, as of any date of determination, without
duplication, the sum of (a) the A/R and Inventory Amount as of such date, (b)
the PP&E Amount as of such date, (c) the SPV Collateral Amount as of such
date plus (d) the CNTA Amount as of such date. The Collateral Value Amount at
any time shall be determined by reference to the most recent Collateral Value
Certificate delivered to the Administrative Agent pursuant to Section 7.1(C)(ii). 

“Collateral Value Certificate” means a certificate, substantially in the form
of Exhibit H, setting forth the
Company’s computation of the Collateral Value Amount. Each such certificate
shall be signed on behalf of the Company by a Designated Financial Officer.

“Commission” means the Securities and Exchange Commission of
the United States of America and any Person succeeding to the functions thereof.

“Commitment and Acceptance” is defined in Section 2.23(B) hereof. 

“Commitment Increase” is defined in Section 2.23(A) hereof. 

“Commodity Exchange Act” means the Commodity Exchange Act (7 U.S.C. § 1
et seq.), as amended from time to time, and any successor statute. 

“Communications” has the meaning assigned to such term in
Section 14.1. 

“Company” means Meritor, Inc. (formerly known as ArvinMeritor, Inc.), an Indiana
corporation, together with its successors and permitted assigns, including a
debtor-in-possession on behalf of the Company. 

9 

“Connection Income Taxes” means Other Connection Taxes that are imposed on
or measured by net income (however denominated) or that are franchise taxes or
branch profits taxes. 

“Consolidated Assets” means the total assets of the Company and its
Subsidiaries on a consolidated basis, determined in accordance with Agreement
Accounting Principles. 

“Consolidated Net Tangible
Assets” means, at any date of
computation, the total amount of consolidated assets of the Company and its
consolidated subsidiaries, less the sum of (a) all current liabilities, except
for (i) any short-term debt, (ii) any current portion of long-term debt and
(iii) any current portion of obligations under capital leases, and (b) all
goodwill, trade names, trademarks, patents, unamortized debt discount and
expense (less unamortized debt premium) and other like intangibles as shown on a
balance sheet of the Company and its consolidated Subsidiaries prepared not more
than 90 days prior to the date of computation (which, for the avoidance of
doubt, shall mean the most recent balance sheet required to be delivered under
Section 7.1(A) or (B)), in all cases
computed in accordance with generally accepted accounting principles as in
effect in the United States of America from time to time. 

“Consolidated Operating Profit” means the operating profits of the Company and
its Subsidiaries on a consolidated basis, determined in accordance with
Agreement Accounting Principles. 

“Consolidated Sales” means the total sales of the Company and its
Subsidiaries on a consolidated basis, determined in accordance with Agreement
Accounting Principles.

“Contaminant” means any waste, pollutant, hazardous substance,
toxic substance, hazardous waste, special waste, petroleum or petroleum-derived
substance or waste, asbestos, polychlorinated biphenyls (“PCBs”), or any constituent of any such substance or waste, and includes but
is not limited to these terms as defined in Environmental Laws. 

“Contingent Obligation” of a Person means any agreement, undertaking or
arrangement by which such Person assumes, guarantees, endorses, contingently
agrees to purchase or provide funds for the payment of, or otherwise becomes
liable upon, the obligation or liability of any other Person, or agrees to
maintain the net worth or working capital or other financial condition of any
other Person, or otherwise assures any creditor of such other Person against
loss and shall include, without limitation, the contingent liability of such
first Person under any letter of credit for which such first Person is in any
way liable, but shall exclude any contingent liability with respect to trade
letters of credit used to finance inventory or equipment obtained in the
ordinary course of business. 

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

“Credit Extension Date” means (i) the Borrowing Date of any Advance,
(ii) the date of issuance, deemed issuance, extension or amendment of any Letter
of Credit or (ii) the date of conversion or continuance of any Advance in
accordance with Section
2.9. 

10 

“Credit Party” means the Administrative Agent, each Issuing
Bank or any other Lender. 

“Deemed Dividend Problem” means, with respect to any Foreign Subsidiary,
any portion of such Foreign Subsidiary’s, or its Foreign Subsidiaries’,
accumulated and undistributed earnings and profits being deemed to be
repatriated to the Company or the applicable parent Domestic Subsidiary for U.S.
federal income tax purposes and the effect of such repatriation causing
materially adverse tax consequences to the Company or such parent Domestic
Subsidiary, in each case as determined by the Company in its commercially
reasonable judgment acting in good faith and in consultation with its legal and
tax advisors. 

“Default” means an event described in Section 8.1 hereof.

“Defaulting Lender” means any Lender that (a) has failed, within two
(2) Business Days of the date required to be funded or paid, to (i) fund any
portion of its Loans, (ii) fund any portion of its participations in Letters of
Credit or (iii) pay over to any Credit Party any other amount required to be
paid by it hereunder, unless, in the case of clause (i) above, such Lender notifies the Administrative Agent in writing that
such failure is the result of such Lender’s good faith determination that a
condition precedent to funding (specifically identified and including the
particular default, if any) has not been satisfied, (b) has notified the Company
or any Credit Party in writing, or has made a public statement to the effect,
that it does not intend or expect to comply with any of its funding obligations
under this Agreement (unless such writing or public statement indicates that
such position is based on such Lender’s good faith determination that a
condition precedent (specifically identified and including the particular
default, if any) to funding a Loan under this Agreement cannot be satisfied) or
generally under other agreements in which it commits to extend credit, (c) has
failed, within three (3) Business Days after written request by a Credit Party,
acting in good faith, to provide a certification in writing from an authorized
officer of such Lender that it will comply with its obligations to fund
prospective Loans and participations in then outstanding Letters of Credit under
this Agreement, provided that such Lender shall cease to be a Defaulting Lender
pursuant to this clause
(c) upon such Credit Party’s
receipt of such certification in form and substance reasonably satisfactory to
it and the Administrative Agent, (d) has become the subject of a Bankruptcy
Event or (e) has (or whose Parent has) become the subject of a Bail-In Action.

“Designated Financial Officer” means, the chief financial officer, treasurer,
assistant treasurer or controller of the Company. 

“Disqualified Stock” means any Capital Stock that, by its terms (or
by the terms of any security into which it is convertible or for which it is
exchangeable), or upon the happening of any event, matures or is mandatorily
redeemable, pursuant to a sinking fund obligation or otherwise, or redeemable at
the option of the holder thereof, in whole or in part, on or prior to the date
that is ninety-one (91) days after the later of (x) the latest Termination Date
and (y) the latest Term Loan Maturity Date.

“Dollar” and “$” means the lawful
currency of the United States of America. 

11 

“Dollar Amount” of any currency at any date means (i) the amount
of such currency if such currency is Dollars or (ii) the Equivalent Amount of
Dollars if such currency is any currency other than Dollars. 

“Domestic Subsidiary” means a Subsidiary of the Company that is not a
Foreign Subsidiary. 

“Domestic Subsidiary Guarantor” means any Subsidiary Guarantor that is a
Domestic Subsidiary. 

“EBITDA” means for any period, the sum of (i) the consolidated net income (or
loss) of the Company and its Subsidiaries for such period, plus (ii) to the extent deducted in determining net income, income taxes,
depreciation and amortization expense and Interest Expense minus (plus) (iii) any extraordinary gains (losses) (iv)
minus (plus) any gains (losses)
on the sale of a business minus (plus) (v) any special, non-recurring, non-cash gains (charges) such as those
arising out of the ongoing restructuring or consolidation of the operations of
the Company and its Subsidiaries, all as determined in accordance with Agreement
Accounting Principles (it being understood and agreed that (a) any additions to
clause (i) shall apply solely to the extent deducted in
determining consolidated net income, and any subtractions therefrom shall apply
solely to the extent included in determining consolidated net income, and (b)
each addition (or subtraction) made pursuant to clauses (ii) through (v) shall be without
duplication of any other addition (or subtraction)). 

“ECP” means an “eligible contract participant” as defined in Section 1a(18)
of the Commodity Exchange Act or
any regulations promulgated thereunder and the applicable rules issued by the
Commodity Futures Trading Commission and/or the Commission. 

“EEA Financial Institution” means (a) any credit institution or investment
firm established in any EEA Member Country which is subject to the supervision
of an EEA Resolution Authority, (b) any entity established in an EEA Member
Country which is a parent of an institution described in clause (a) of this definition, or (c) any financial institution established in an
EEA Member Country which is a subsidiary of an institution described in
clauses (a) or (b) of this definition and
is subject to consolidated supervision with its parent. 

“EEA Member Country” means any of the member states of the European
Union, Iceland, Liechtenstein, and Norway. 

“EEA Resolution Authority” means any public administrative authority or any
Person entrusted with public administrative authority of any EEA Member Country
(including any delegee) having responsibility for the resolution of any EEA
Financial Institution.

“Electronic Signature” means an electronic sound, symbol, or process
attached to, or associated with, a contract or other record and adopted by a
Person with the intent to sign, authenticate or accept such contract or record.

“Electronic System” means any electronic system, including e-mail,
e-fax, Intralinks®, ClearPar® and any other Internet or extranet-based site,
whether such electronic system is owned, operated or hosted by the
Administrative Agent, any Issuing Bank and any of its respective Related Parties
or any other Person, providing for access to data protected by passcodes or
other security system.

12 

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

“Environmental Lien” means a Lien in favor of any Governmental
Authority for (a) any liability under Environmental Law, or (b) damages arising
from, or costs incurred by such Governmental Authority in response to, any
noncompliance with any Environmental Law, whether actual or threatened.

“Equivalent Amount” of any currency at any date means the equivalent
in Dollars of such currency, calculated on the basis of the rate at which such
currency may be exchanged into Dollars, as set forth at approximately 11:00 a.m.
(Local Time), on such date on the Reuters World Currency Page for such currency.
In the event that such rate does not appear on any Reuters World Currency Page,
the Equivalent Amount shall be determined by reference to such other publicly
available service for displaying exchange rates as may be reasonably selected by
the Administrative Agent or, in the event no such service is selected, the
Equivalent Amount shall instead be calculated on the basis of the arithmetical
mean of the buy and sell spot rates of exchange of the Administrative Agent for
such currency on the London market at 11:00 a.m. (Local Time), on such date for
the purchase of Dollars with such currency, for delivery two Business Days
later; provided, that if at the time of any such determination,
for any reason, no such spot rate is being quoted, the Administrative Agent may
use any reasonable method it deems appropriate (after consultation with the
Company) to determine such amount, and such determination shall be conclusive
absent manifest error. 

“ERISA” means the Employee Retirement Income Security Act of 1974, as amended
from time to time, and any rule or regulation issued thereunder. 

“EU Bail-In Legislation
Schedule” means the EU
Bail-In Legislation Schedule published by the Loan Market Association (or any
successor person), as in effect from time to time.

“euro” and/or “EUR” means the single currency of the Participating Member
States. 

13 

“Eurocurrency Base Rate” means, with respect to any Eurocurrency Rate
Advance denominated in any Agreed Currency and for any applicable Interest
Period, the London interbank offered rate administered by the ICE Benchmark
Administration (or any other Person that takes over the administration of such
rate) for such Agreed Currency for a period equal in length to such Interest
Period as displayed on pages LIBOR01 or LIBOR02 of the Reuters screen
or, in the event such rate
does not appear on either of such Reuters pages, on any successor or substitute
page on such screen that displays such rate, or on the appropriate page of such
other information service that publishes such rate as shall be selected by the
Administrative Agent from time to time in its reasonable discretion (in each
case the “LIBOR Screen
Rate”) at approximately 11:00
a.m., London time, on the Quotation Day for such currency and Interest Period;
provided that, if the LIBOR Screen Rate shall be less than
zero, such rate shall be deemed to be zero for purposes of this Agreement;
provided, further, that if a LIBOR
Screen Rate shall not be available at such time for such Interest Period (the
“Impacted Interest
Period”), then the Eurocurrency
Base Rate for such currency and such Interest Period shall be the Interpolated
Rate; provided, that, if any Interpolated Rate shall be less
than zero, such rate shall be deemed to be zero for purposes of this Agreement.
It is understood and agreed that all of the terms and conditions of this
definition of “Eurocurrency Base Rate” shall be subject to Section 4.3. 

“Eurocurrency Payment Office” of the Administrative Agent means, for each of
the Agreed Currencies, any agency, branch, Affiliate or correspondence bank of
the Administrative Agent, as it may from time to time specify in writing to the
Company and each Lender as its Eurocurrency Payment Office. 

“Eurocurrency Rate” means, with respect to a Eurocurrency Rate
Advance of any Class for the relevant Interest Period, the Adjusted Eurocurrency
Base Rate applicable to such Interest Period plus the Applicable Eurocurrency Margin then in effect for such Class.

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

“Eurocurrency Rate Loan” means a Loan, or portion thereof, which bears
interest at the Eurocurrency Rate. 

“Excluded Swap Obligation” means, with respect to any Loan Party, any
Specified Swap Obligation if, and to the extent that, all or a portion of the
guaranty of such Loan Party of, or the grant by such Loan Party of a security
interest to secure, such Specified Swap Obligation (or any guaranty thereof) is
or becomes illegal under the Commodity Exchange Act or any rule, regulation or
order of the Commodity Futures Trading Commission (or the application or
official interpretation of any thereof) by virtue of such Loan Party’s failure
for any reason to constitute an ECP at the time the guaranty of such Loan Party
or the grant of such security interest becomes effective with respect to such
Specified Swap Obligation. If a Specified Swap Obligation arises under a master
agreement governing more than one swap, such exclusion shall apply only to the
portion of such Specified Swap Obligation that is attributable to swaps for
which such guaranty or security interest is or becomes illegal. 

“Excluded Taxes” is defined in Section 2.14(E)(i) hereof. 

“Existing Credit Agreement” means that certain Second Amended and Restated
Credit Agreement, dated as of February 13, 2014, by and among the Borrowers, as
borrowers thereunder, the lenders party thereto and the Administrative Agent, as
the same has been amended, supplemented or otherwise modified prior to the
Restatement Effective Date. 

14 

“Facility Obligations Amount” means, as of any date, the sum of (a) the
aggregate Dollar Amount of the Revolving Credit Obligations (including, for the
avoidance of doubt, any Incremental Revolving Loans) as of such date and (b) the
aggregate principal amount of Term Loans outstanding as of such date, in each
case after giving effect to any borrowings and payments being made on such date
and any issuance, amendment or termination of any Letter of Credit on such
date.

“FATCA”
means Sections 1471 through 1474 of the Code, as of the date of this Agreement
(or any amended or successor provision that is substantively comparable and not
materially more onerous to comply with) and any current or future regulations or
official interpretations thereof and any agreements entered into pursuant to
Section 1471(b) of the Code.

“Federal Funds Effective Rate” means, for any day, the rate calculated by the
NYFRB based on such day’s federal funds transactions by depository institutions
(as determined in such manner as the NYFRB shall set forth on its public website
from time to time) and published on the next succeeding Business Day by the
NYFRB as the federal funds effective rate. For the avoidance of doubt, if the
Federal Funds Effective Rate shall be less than zero, such rate shall be deemed
to be zero for purposes of this Agreement. 

“Financial Assistance Problem” means, with respect to any Foreign Subsidiary,
the inability of such Foreign Subsidiary to become a Subsidiary Guarantor (or in
the case of the Subsidiary Borrower, to become jointly and severally liable for
the Obligations of the Company under Section 1.4) or to permit
its Capital Stock to be pledged pursuant to a pledge agreement on account of
legal or financial limitations imposed by the jurisdiction of organization of
such Foreign Subsidiary or other relevant jurisdictions having authority over
such Foreign Subsidiary, in each case as determined by the Company in its
commercially reasonable judgment acting in good faith and in consultation with
its legal and tax advisors. 

“First Tier Foreign Subsidiary” means each Foreign Subsidiary with respect to
which any one or more of the Company and its Domestic Subsidiaries directly owns
or controls more than 50% of such Foreign Subsidiary’s issued and outstanding
Capital Stock. 

“Floating Rate” means, for any day for any Advance of any Class,
a rate per annum equal to the Alternate Base Rate for such day, changing when
and as the Alternate Base Rate changes plus the Applicable
Floating Rate Margin then in effect for such Class. 

“Floating Rate Advance” means an Advance which bears interest at the
Floating Rate. 

“Floating Rate Loan” means a Loan, or portion thereof, which bears
interest at the Floating Rate. 

“Flood Laws” has the meaning assigned to such term in
Section 11.17. 

“Foreign Currency Sublimit” means $100,000,000. 

“Foreign Factoring Transaction” means any factoring transaction entered into by
any Foreign Subsidiary with respect to Receivables originated by such Foreign
Subsidiary in the ordinary course of business, which factoring transaction gives
rise to Receivables Facility Attributed Indebtedness that is non-recourse to the
Company and its Subsidiaries other than limited recourse customary for factoring
transactions of the same kind. 

15 

“Foreign Obligations” means all Hedging Obligations and all Foreign
Treasury Obligations, in each case of any Foreign Subsidiary owing to any Lender
or any Affiliate of any Lender. 

“Foreign Reinvestment Amount” means, at any time, an amount equal to the
proceeds of sales of Capital Stock of, or assets of, Foreign Subsidiaries that
are not Loan Parties occurring after the Restatement Effective Date that have
been distributed to or otherwise received by a Loan Party. 

“Foreign Plan” means an employee pension benefit plan (as
defined in Section 3(2) of ERISA) which (i) is maintained or contributed to for
the benefit of employees of the Company, any of its Subsidiaries or any member
of the Controlled Group, (ii) is not covered by ERISA pursuant to Section
4(b)(4) thereof and (iii) under applicable local law, is required to be funded
through a trust or other funding vehicle. 

“Foreign Subsidiary” means (i) a Subsidiary of the Company organized
under the laws of a jurisdiction located outside the United States of America or
(ii) a Subsidiary of any Person described in the foregoing clause (i). 

“Foreign Subsidiary Guarantor” means any Subsidiary Guarantor that is a Foreign
Subsidiary. 

“Foreign Subsidiary
Non-Guarantor” means any
Foreign Subsidiary that is not a Foreign Subsidiary Guarantor. 

“Foreign Treasury Obligations” means all obligations and liabilities incurred
by any Foreign Subsidiary with respect to treasury management services
(including without limitation controlled disbursement, automated clearinghouse
transactions, return items, any direct debit scheme or arrangement, overdrafts
and interstate depository network services, overdraft liabilities and netting
and pooling arrangements), merchant processing services and card services
(including without limitation commercial credit cards, purchasing cards and
stored value cards). 

“Fund” means any Person (other than a natural person) that is (or will be)
engaged in making, purchasing, holding or otherwise investing in bank loans and
similar extensions of credit in the ordinary course of its business and that is
administered or managed by (a) a Lender, (b) an Affiliate of a Lender or (c) an
entity or an Affiliate of an entity that administers or manages a Lender.

“Governmental Acts” is defined in Section 3.10(A) hereof. 

“Governmental Authority” means any nation or government, any federal,
state, local or other political subdivision thereof and any entity exercising
executive, legislative, judicial, regulatory or administrative authority or
functions of or pertaining to government, including any authority or other
quasi-governmental entity established to perform any of such functions
(including any supra-national bodies such as the European Union or the European
Central Bank) and any group or body charged with setting financial accounting or
regulatory capital rules or standards (including, without limitation, the
Financial Accounting Standards Board, the Bank for International Settlements or
the Basel Committee on Banking Supervision or any successor or similar authority
to any of the foregoing). 

16 

“Guaranty” means each Subsidiary Guaranty or the guaranty
set forth in Article XVI hereof. 

“Hedging Arrangements” means any and all agreements, devices or
arrangements designed to protect at least one of the parties thereto from the
fluctuations of interest rates, currencies, commodity prices, exchange rates or
forward rates applicable to such party’s assets, liabilities or exchange
transactions, including, but not limited to, dollar-denominated or
cross-currency interest rate exchange agreements, forward currency exchange
agreements, interest rate cap or collar protection agreements, forward rate
currency or interest rate options, puts and warrants or any similar derivative
transactions. 

“Hedging Obligations” of a Person means any and all obligations of
such Person, whether absolute or contingent and howsoever and whensoever
created, arising, evidenced or acquired (including all renewals, extensions and
modifications thereof and substitutions therefor), under (i) any Hedging
Arrangements and (ii) any and all cancellations, buybacks, reversals,
terminations or assignments of any Hedging Arrangements. 

“Holders of Secured Obligations” means (i) the holders of the Secured Obligations
from time to time, including, without limitation, the Administrative Agent, each
Arranger, the Lenders, each Issuing Bank, each of their respective Affiliates
and any Indemnitee and including each Lender (or Affiliate thereof) in respect
of all Hedging Obligations and Treasury Obligations and Foreign Treasury
Obligations of the Borrower and its Subsidiaries owing to such Lender (or
Affiliate) and (ii) each such holder’s respective successors, transferees and
assigns. 

“Hostile Acquisition” means (a) the acquisition of the Capital Stock
of a Person through a tender offer or similar solicitation of the owners of such
Capital Stock which has not been approved by the board of directors (or any
other applicable governing body) of such Person or by similar action if such
Person is not a corporation and (b) any such acquisition as to which such
approval has been withdrawn. 

“Immaterial Subsidiary” means each Subsidiary of the Company (i) the
total assets of which (determined on a consolidated basis for such Subsidiary
and its Subsidiaries) are less than five percent (5.0%) of the Company’s
Consolidated Assets, (ii) the total sales of which for the most recently ended
fiscal quarter (determined on a consolidated basis for such Subsidiary and its
Subsidiaries) were less than five percent (5.0%) of the Company’s Consolidated
Sales for the most recently ended fiscal quarter or (iii) the total operating
profits of which for the most recently ended fiscal quarter (determined on a
consolidated basis for such Subsidiary and its Subsidiaries) were less than five
percent (5.0%) of the Company’s Consolidated Operating Profit for the most
recently ended fiscal quarter. 

“Impacted Interest Period” has the meaning assigned to such term in the
definition of “Eurocurrency Base Rate”. 

17 

“Increase Notice” is defined in Section 2.23(A) hereof. 

“Incremental Revolving Loan” is defined in Section 2.23(A) hereof. 

“Incremental Revolving Loan
Commitment” is defined in
Section 2.23(A) hereof. 

“Incremental Term Loan” is defined in Section 2.23(A) hereof. 

“Incremental Term Loan
Commitment” is defined in
Section 2.23(A) hereof. 

“Indebtedness” of a Person means, without duplication, such
Person’s (i) obligations for borrowed money, (ii) obligations representing the
deferred purchase price of Property or services (other than accounts payable
arising in the ordinary course of such Person’s business payable on terms
customary in the trade), (iii) obligations, whether or not assumed, of others
secured by (or for which the holder of such Indebtedness has an existing right,
contingent or otherwise, to be secured by) Liens on property now or hereafter
owned or acquired by such Person or payable out of the proceeds or production
from Property now or hereafter owned or acquired by such Person (other than any
Hedging Obligations that constitute Secured Obligations), (iv) obligations which
are evidenced by notes, acceptances, or other instruments, (v) obligations with
respect to letters of credit, bankers acceptances, surety bonds and similar
instruments, (vi) obligations of such Person to purchase securities or other
Property arising out of or in connection with the sale of the same or
substantially similar securities or Property, (vii) Capitalized Lease
Obligations, (viii) Contingent Obligations with respect to the Indebtedness of
other Persons (it being understood and agreed that, in calculating the amount of
Indebtedness hereunder, the amount of any such Contingent Obligations shall only
be included to the extent such Contingent Obligations do not cover obligations
representing other Indebtedness already included in such calculation) to the
extent (and only to the extent) that the other Indebtedness to which such
Contingent Obligation relates is outstanding and then only as to principal or
like amounts actually borrowed, due, payable or drawn, as the case may be, (ix)
Receivables Facility Attributed Indebtedness, (x) Off-Balance Sheet Liabilities,
(xi) Disqualified Stock, (xii) Synthetic Lease Obligations and (xiii) any other
obligation for borrowed money or other financial accommodation (other than any
Hedging Obligation) which in accordance with Agreement Accounting Principles
would be shown as a liability on the consolidated balance sheet of such Person.

“Indemnified Matters” is defined in Section 10.7(B) hereof. 

“Indemnitees” is defined in Section 10.7(B) hereof. 

“Ineligible Institution” means (a) a natural person, (b) a Defaulting
Lender, (c) the Company, any of its Subsidiaries or any of its Affiliates, or
(d) a company, investment vehicle or trust for, or owned and operated for the
primary benefit of, a natural person or relative(s) thereof. 

“Initial Loan Parties” means the Company, the Subsidiary Borrower and
each Subsidiary Guarantor as of the Restatement Effective Date. 

“Initial Mortgaged Properties” means the parcels of real Property of the
Company and the Domestic Subsidiary Guarantors set forth on Schedule 1.1.1 to this Agreement. 

18 

“Insolvency Event” is defined in Section 10.14 hereof. 

“Intellectual Property Security
Agreements” means the
intellectual property security agreements as the Company or any Domestic
Subsidiary Guarantor may from time to time make in favor of the Administrative
Agent for the benefit of the Holders of Secured Obligations, in each case as the
same may be amended, restated, supplemented or otherwise modified from time to
time. 

“Intercompany Indebtedness” means, with respect to any Borrower or
Subsidiary Guarantor, any and all claims of such Borrower or Subsidiary
Guarantor against any other Borrower or Subsidiary Guarantor or any other
endorser, obligor or any other guarantor of all or any part of the Obligations,
or against any of its properties, including, without limitation, claims arising
from liens or security interests upon property with respect to any such claim
owing to such Borrower or Subsidiary Guarantor. 

“Interest Coverage Ratio”
means, as of the last day of any fiscal quarter, the ratio of (a) EBITDA for the
four consecutive fiscal quarters then ended on such date to (b) Interest Expense
for such four fiscal-quarter period. 

“Interest Expense” means, with respect to any period, the aggregate
of all interest expense reported by the Company and its Subsidiaries in
accordance with Agreement Accounting Principles during such period, net of any
interest income received by the Company and its Subsidiaries during such period
from Investments, but excluding, to the extent constituting interest expense,
Receivables Facility Financing Costs for such period. As used in this
definition, the term “interest” shall include, without limitation, all interest,
fees and costs payable with respect to the obligations under this Agreement
(other than fees and costs which may be capitalized as transaction costs in
accordance with Agreement Accounting Principles) and the interest portion of
Capitalized Lease payments during such period, all as determined in accordance
with Agreement Accounting Principles. 

“Interest Period” means, with respect to any Eurocurrency Rate
Advance:

(a) initially, the period
commencing on the Borrowing Date with respect to such Advance or the date of the
conversion of such Advance, as the case may be, ending seven days or one, two,
three, or six months thereafter or such alternate period agreed to by each of
the Lenders, as selected by the Company (on behalf of itself or the Subsidiary
Borrower) in its Borrowing/Election Notice given with respect thereto; and

19 

(b) thereafter, each period
commencing on the last day of the preceding Interest Period applicable to such
Eurocurrency Rate Advance and ending seven days or one, two, three or six months
thereafter or such alternate period agreed to by the Lenders, as selected by the
Company (on behalf of itself or the Subsidiary Borrower) in its
Borrowing/Election Notice given with respect thereto in accordance with Section 2.9; provided, that all of the foregoing provisions relating to
Interest Periods are subject to the following: 

(i) if any Interest Period
would otherwise end on a day that is not a Business Day, such Interest Period
shall be extended to the next succeeding Business Day unless, in the case of any
Interest Period that is one, two, three or six months in length, the result of
such extension would be to carry such Interest Period into another calendar
month, in which event such Interest Period shall end on the immediately
preceding Business Day; and 

(ii) (x) any Interest
Period applicable to a Eurocurrency Rate Advance made by the Revolving Loan
Lenders that would otherwise extend beyond the Revolving Loan Termination Date
shall end on the Revolving Loan Termination Date and (y) any Interest Period
applicable to a Eurocurrency Rate Advance relating to Term Loans that would
otherwise extend beyond the Term Loan Termination Date applicable to such Term
Loans shall end on the applicable Term Loan Termination Date.

“Interpolated Rate” means, at any time, for any Interest Period, the
rate per annum determined by the Administrative Agent (which determination shall
be conclusive and binding absent manifest error) to be equal to the rate that
results from interpolating on a linear basis between: (a) the LIBOR Screen Rate
for the longest period (for which the LIBOR Screen Rate is available for the
applicable currency) that is shorter than the Impacted Interest Period and (b)
the LIBOR Screen Rate for the shortest period (for which the LIBOR Screen Rate
is available for the applicable currency) that exceeds the Impacted Interest
Period, in each case, at such time.

“Investment” of a Person means any loan, advance (other than
commission, travel and similar advances to officers and employees made in the
ordinary course of business), extension of credit (other than accounts
receivable arising in the ordinary course of business on terms customary in the
trade and loans to employees in the ordinary course of business) or contribution
of capital by such Person; stocks, bonds, mutual funds, partnership interests,
notes, debentures or other securities owned by such Person; and any deposit
accounts and certificate of deposits owned by such Person. 

“IRS” means the Internal Revenue Service and any Person succeeding to the
functions thereof. 

“Issuing Bank” means (i) JPMCB in its separate capacity as an
issuer of Letters of Credit pursuant to Section 3.1 or
3.2 hereunder with respect to each Letter of Credit
issued or deemed issued by JPMCB upon a Borrower’s request and (ii) any Lender
(other than JPMCB) reasonably acceptable to the Administrative Agent, in such
Lender’s separate capacity as an issuer of Letters of Credit pursuant to
Section 3.1 with respect to any and all Letters of Credit
issued by such Lender in its sole discretion upon a Borrower’s request;
provided, that, unless the Administrative Agent shall
otherwise consent, there shall not at any time be more than three (3) Lenders
constituting Issuing Banks hereunder. All references contained in this Agreement
and the other Loan Documents to the “Issuing Bank” shall be deemed to apply
equally to each of the institutions referred to in clauses (i) and (ii) of this
definition in their respective capacities as issuers of any and all Letters of
Credit issued by each such institution. 

20 

“Issuing Bank Commitment” means, with respect to each Issuing Bank, the
commitment of such Issuing Bank to issue Letters of Credit hereunder. The
initial amount of each Issuing Bank’s Letter of Credit Commitment is set forth
on Schedule 1.1.3, or if an Issuing Bank has entered into an
Assignment and Assumption or a Commitment and Acceptance, the amount set forth
for such Issuing Bank as its Letter of Credit Commitment in the Assignment and
Assumption or Commitment and Acceptance. Each Issuing Bank’s Issuing Bank
Commitment may be decreased or increased from time to time with the written
consent of the Company, the Administrative Agent and such Issuing Bank (provided
that any increase in the Letter of Credit Commitment with respect to any Issuing
Bank, or any decrease in the Letter of Credit Commitment to an amount not less
than any Issuing Bank’s Letter of Credit Commitment as of the Restatement
Effective Date, shall only require the consent of the Borrower and such Issuing
Bank). 

“Joint Venture” means an association of economically independent
business entities (the “Venturers”) for a common commercial purpose of defined
scope and duration, by contract or through equity interests in a business
entity, and by means of which the Venturers pool resources and share risks,
rewards and control. 

“JPMCB” means JPMorgan Chase Bank, N.A., in its individual capacity, and its
successors. 

“L/C Collateral Account” is defined in Section 3.11(A) hereof. 

“L/C Documents” is defined in Section 3.4(A) hereof. 

“L/C Draft” means a draft drawn on an Issuing Bank pursuant
to a Letter of Credit. 

“L/C Fee” is defined in Section
3.8(A) hereof. 

“L/C Interest” shall have the meaning ascribed to such term in
Section 3.6 hereof. 

“L/C Obligations” means, without duplication, an amount equal to
the sum of (i) the aggregate of the Dollar Amount then available for drawing
under each of the Letters of Credit and (ii) the aggregate outstanding Dollar
Amount of all Reimbursement Obligations at such time. For all purposes of this
Agreement, if on any date of determination a standby 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 International Standby Practices (ISP98), such
standby Letter of Credit shall be deemed to be “outstanding” in the Dollar
Amount so remaining available to be drawn. 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 that with respect to any Letter of Credit that, by its terms or the
terms of any 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. 

21 

“Lenders” means the lending institutions listed on the signature pages of this
Agreement or parties to Assignment Agreements delivered pursuant to
Section 13.3 hereof or Commitments and Acceptances delivered
pursuant to Section
2.23 hereof, including each
Issuing Bank, and each of their respective successors and assigns but excluding
any such institution that ceases to be a party hereto pursuant to an Assignment
Agreement so delivered. 

“Lending Installation” means, with respect to a Lender or the
Administrative Agent, any office, branch, subsidiary or affiliate of such Lender
or the Administrative Agent. 

“Letter of Credit” means the commercial and standby letters of
credit to be issued by an Issuing Bank pursuant to Section 3.1 hereof. 

“LIBOR Screen Rate” has the meaning assigned to such term in the
definition of “Eurocurrency Base Rate”. 

“Lien” means any lien (statutory or other), security interest, mortgage,
pledge, hypothecation, assignment, deposit arrangement, encumbrance or
preference, priority or other security agreement or preferential arrangement of
any kind or nature whatsoever (including, without limitation, the interest of a
vendor or lessor under any conditional sale, Capitalized Lease, Synthetic Lease
or other title retention agreement). 

“Loan(s)” means, with respect to a Lender, such Lender’s portion of any Advance
made pursuant to Section
2.1 hereof, as applicable, and
collectively, all Revolving Loans and Term Loans (in each case whether made or
continued as or converted to Floating Rate Loans or Eurocurrency Rate Loans).

“Loan Documents” means this Agreement, the Third Amendment and
Restatement Agreement, any promissory notes executed pursuant to Section 2.12(B), the Guarantees, the Collateral Documents, any
Assignment Agreement, any Commitment and Acceptance, and all other documents,
instruments, notes and agreements executed in connection therewith or pursuant
thereto, as the same may be amended, restated or otherwise modified and in
effect from time to time. 

“Loan Parties” means, collectively, the Borrowers and the
Subsidiary Guarantors. 

“Local Time” means (i) New York City time in the case of a
Loan, Advance or LC Draft denominated in Dollars and (ii) local time in the case
of a Loan, Advance or LC Draft denominated in an Agreed Currency other than
Dollars or made to or on behalf of the Subsidiary Borrower (it being understood
that such local time shall mean London, England, time unless otherwise notified
by the Administrative Agent). 

“Margin Stock” shall have the meaning ascribed to such term in
Regulation U. 

“Material Adverse Effect” means a material adverse effect on (i) business,
condition (financial or otherwise), operations, performance or Properties of the
Company and its Subsidiaries taken as a whole, (ii) the ability of the Borrowers
to pay the Obligations under the Loan Documents, or (iii) the validity or
enforceability of any of the Loan Documents or the rights or remedies of the
Agents or the Lenders thereunder. 

22 

“Material Indebtedness” means (i) Indebtedness in an outstanding
principal Dollar Amount of $35,000,000 or more in the aggregate or (ii) any
Indebtedness outstanding under any Senior Note Indenture that has not been
defeased in full in accordance with the terms of the applicable Senior Note
Indenture. 

“Material Indebtedness
Agreement” means any
agreement under which any Material Indebtedness was created or is governed or
which provides for the incurrence of Indebtedness in an amount which would
constitute Material Indebtedness (whether or not an amount of Indebtedness
constituting Material Indebtedness is outstanding thereunder). 

“MIRE Event” means, if there are any Mortgaged Properties at
such time, any increase, extension or renewal of any of the Revolving Loan
Commitments or Loans (including any incremental credit facilities pursuant to
Section 2.23 or otherwise, but excluding (i) any continuation
or conversion of Advances, (ii) the making of any Loan or (iii) the issuance,
renewal or extension of Letters of Credit). 

“Moody’s” means Moody’s Investors Service, Inc., together with its successors and
assigns. 

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

“Mortgage” means each of those certain mortgages and deeds
of trust, dated prior to the Restatement Effective Date, executed by various
Loan Parties and the Administrative Agent for the benefit of the Holders of
Secured Obligations, and such other mortgages and deeds of trust may hereafter
be entered into by the Loan Parties pursuant hereto or in connection herewith,
in each case as amended, restated, supplemented or otherwise modified from time
to time. 

“Mortgage Instruments” means such title reports, title insurance,
property insurance, flood certifications and flood insurance (and, if
applicable, FEMA form acknowledgements of insurance), any other flood
documentation or information reasonably requested by a Lender through the
Administrative Agent to enable such Lender to comply with Flood Laws, opinions
of counsel, surveys, appraisals, environmental reports and similar documents or
related certifications as are requested by, and in form and substance reasonably
acceptable to, the Administrative Agent from time to time. 

“Mortgaged Property” means each Initial Mortgaged Property and each
other parcel of real property subject to, or required to be subject to, pursuant
to any Loan Document, a Mortgage. 

“Multiemployer Plan” means a “multiemployer plan” as defined in
Section 4001(a)(3) of ERISA which is contributed to by either the Company or any
member of the Controlled Group. 

“Net Aggregate Revolving Credit
Exposure” means, as of any
date of determination, (i) the Dollar Amount of the Revolving Credit Obligations
as of such date minus (ii) the Dollar
Amount of funds on deposit in the L/C Collateral Account on such date.

23 

“NYFRB” means the Federal Reserve Bank of New York. 

“NYFRB Rate” means, for any day, the greater of (a) the
Federal Funds Effective Rate in effect on such day and (b) the Overnight Bank
Funding Rate in effect on such day (or for any day that is not a Business Day,
for the immediately preceding Business Day); provided that if none of such rates are published for any day that is a Business
Day, the term “NYFRB
Rate” means the rate for a
federal funds transaction quoted at 11:00 a.m. (New York time) on such day
received by the Administrative Agent from a Federal funds broker of recognized
standing selected by it; provided, further, that if any of the aforesaid rates shall be less than zero, such rate
shall be deemed to be zero for purposes of this Agreement. 

“Obligations” means all Loans, L/C Obligations, advances,
debts, liabilities, obligations, covenants and duties owing by the Company or
any of its Subsidiaries (including, without limitation, the Subsidiary Borrower)
to the Administrative Agent, any Lender, any Arranger, any Affiliate of the
Administrative Agent or any Lender, any Issuing Bank, or any Indemnitee, of any
kind or nature, present or future, arising under this Agreement, the L/C
Documents, the Guarantees or any other Loan Document, whether or not evidenced
by any note, guaranty or other instrument, whether or not for the payment of
money, whether arising by reason of an extension of credit, loan, guaranty,
indemnification, or in any other manner, whether direct or indirect (including
those acquired by assignment), absolute or contingent, due or to become due, now
existing or hereafter arising and however acquired, all interest, charges,
expenses, fees, attorneys’ fees and disbursements, paralegals’ fees (in each
case whether or not allowed or allowable) and any other sum chargeable to the
Company or any of its Subsidiaries under this Agreement or any other Loan
Document. 

“Obligor” is defined in Section
10.14 hereof. 

“OFAC” means the Office of Foreign Assets Control of the U.S. Department of Treasury. 

“Off-Balance Sheet Liabilities” of a Person means, without duplication, (i) any
Receivables Facility Attributed Indebtedness and repurchase obligation or
liability of such Person or any of its Subsidiaries with respect to Receivables
or notes receivable sold by such Person or any of its Subsidiaries to the extent
such Receivables Facility Attributed Indebtedness, obligation or liability does
not appear on the consolidated balance sheet of such Person and its Subsidiaries
(calculated to include the unrecovered investment of purchasers or transferees
of Receivables or notes receivable or any other obligation of the Company or
such transferor to purchasers/transferees of interests in Receivables or notes
receivables or the agent for such purchasers/transferees), (ii) any liability
under any sale and leaseback transactions which do not create a liability on the
consolidated balance sheet of such Person, (iii) any Synthetic Lease Obligations
or (iv) any obligations arising with respect to any other transaction (other
than any Operating Lease that does not constitute a Synthetic Lease) which is
the functional equivalent of or takes the place of borrowing but which does not
constitute a liability on the consolidated balance sheets of such Person and its
Subsidiaries. 

24 

“Operating Lease” of a Person means any lease of property by such
Person as lessee that qualifies as an operating lease for financial reporting
purposes under Agreement Accounting Principles. 

“Originators” means the Company and/or any of its Subsidiaries
(other than any SPV) in their respective capacities as sellers or transferors of
any Receivables and Related Security in connection with a Permitted Receivables
Financing. 

“Other Taxes” is defined in Section 2.14(E)(ii) hereof. 

"Other Connection Taxes" means, with respect to the Administrative Agent
or any Lender, taxes imposed as a result of a present or former connection
between the Administrative Agent or such Lender and the jurisdiction imposing
such tax (other than connections arising from the Administrative Agent or such
Lender having executed, delivered, become a party to, performed its obligations
under, received payments under, received or perfected a security interest under,
engaged in any other transaction pursuant to or enforced any Loan Document, or
sold or assigned an interest in any Loan or Loan Document). 

“Overnight Bank Funding Rate” means, for any day, the rate comprised of both
overnight federal funds and overnight Eurodollar borrowings by U.S.–managed
banking offices of depository institutions (as such composite rate shall be
determined by the NYFRB as set forth on its public website from time to time)
and published on the next succeeding Business Day by the NYFRB as an overnight
bank funding rate (from and after such date as the NYFRB shall commence to
publish such composite rate). 

“Parent” means, with respect to any Lender, any Person as to which such Lender
is, directly or indirectly, a subsidiary. 

“Participants” is defined in Section 13.2(A) hereof. 

“Participant Register” is defined in Section 13.2(C) hereof.

“Participating Member State” means any member state of the European Union
that adopts or has adopted the euro as its lawful currency in accordance with
legislation of the European Union relating to economic and monetary union.

“Patriot Act” means the USA PATRIOT Act (Title III of Pub. L.
107-56 (signed into law October 26, 2001)). 

“Payment Date” means the last Business Day of each March, June,
September and December and any applicable Term Loan Maturity Date or Termination
Date. 

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

“Permitted Acquisition” is defined in Section 7.3(G) hereof.  

25 

“Permitted Domestic Receivables
Financing” means any
transaction or series of transactions that may be entered into by the Company or
any Domestic Subsidiary pursuant to which the Company and/or any Domestic Subsidiary may sell, convey or
otherwise transfer, directly or indirectly, to a newly-formed SPV, or any other
Person, any Receivables and Related Security originated in the United States of
America for the purpose of obtaining financing; provided, that (i) the Receivables Facility Attributed Indebtedness incurred in
such transaction or series of transactions does not at any time exceed
$275,000,000 in the aggregate and (ii) such Receivables Facility Attributed
Indebtedness is non-recourse to the Company and its Subsidiaries (other than an
SPV) other than limited recourse customary for receivables financings of the
same kind. 

“Permitted Existing
Indebtedness” means the
Indebtedness of the Company and its Subsidiaries as of the Restatement Effective
Date identified as such on Schedule 1.1.2 to this
Agreement. 

“Permitted Foreign Receivables
Financing” means any
transaction or series of transactions (other than any Foreign Factoring
Transaction) that may be entered into by any Foreign Subsidiary pursuant to
which any Foreign Subsidiary may sell, convey or otherwise transfer, directly or
indirectly, to a newly-formed SPV, or any other Person, any Receivables and
Related Security originated outside the United States of America for the purpose
of obtaining financing; provided, that (i) the
Receivables Facility Attributed Indebtedness incurred in such transaction or
series of transactions does not at any time exceed $300,000,000 in the aggregate
and (ii) such Receivables Facility Attributed Indebtedness is non-recourse to
the Company and its Subsidiaries (other than an SPV) other than limited recourse
customary for receivables financings of the same kind. 

“Permitted Receivables
Financing” means either a
Permitted Domestic Receivables Financing or a Permitted Foreign Receivables
Financing. 

“Permitted Refinancing
Indebtedness” means any
replacement, renewal, refinancing or extension of any Permitted Existing
Indebtedness or any Indebtedness issued in reliance on Section 7.3(A)(x), in any such case, permitted by this Agreement,
to the extent that such Indebtedness (i) does not exceed the aggregate principal
amount (plus accrued interest and any applicable premium and associated fees and
expenses) of the Indebtedness being replaced, renewed, refinanced or extended,
(ii) does not have a Weighted Average Life to Maturity at the time of such
replacement, renewal, refinancing or extension that is less than the Weighted
Average Life to Maturity of the Indebtedness being replaced, renewed, refinanced
or extended, (iii) has a maturity date not sooner than six months after the
later of (x) the latest Termination Date and (y) the latest Term Loan Maturity
Date, (iv) does not rank at the time of such replacement, renewal, refinancing
or extension senior to the Indebtedness being replaced, renewed, refinanced or
extended, and (v) does not contain terms (including, without limitation, terms
relating to security, amortization, interest rate, premiums, fees, covenants,
subordination, event of default and remedies) that are materially less favorable
to the Company or relevant Subsidiary than those applicable to the Indebtedness
being replaced, renewed, refinanced or extended. For the avoidance of doubt, the
term “Permitted Refinancing Indebtedness” shall include Indebtedness satisfying
the foregoing conditions incurred to replace, renew, refinance or extend any
Permitted Existing Indebtedness at the time such Indebtedness is incurred so
long as the proceeds thereof are applied to replace or refinance such Permitted
Existing Indebtedness within one hundred and twenty (120) days after the
incurrence of such Indebtedness. 

26 

“Permitted Related Party
Transactions” means (a)
Permitted Receivables Financings, (b) transactions between one or more Domestic
Subsidiary Guarantors that are Wholly-Owned Subsidiaries; (c) transactions
between the Company and one or more Domestic Subsidiary Guarantors that are
Wholly-Owned Subsidiaries; (d) transactions between one or more Foreign
Subsidiary Guarantors that are Wholly-Owned Subsidiaries; (e) transactions
between the Subsidiary Borrower and one or more Foreign Subsidiary Guarantors
that are Wholly-Owned Subsidiaries; (f) transactions between one or more Foreign
Subsidiary Non-Guarantors that are Wholly-Owned Subsidiaries; (g) transactions
between (i) any Wholly-Owned Subsidiary of the Company that is not a Domestic
Subsidiary Guarantor and (ii) the Company or any Domestic Subsidiary Guarantor
that is a Wholly-Owned Subsidiary, on the other hand, where the net benefit
derived from such transaction is derived by the Company or such Domestic
Subsidiary Guarantor as the transferee in such transaction, (h) transactions
between (i) any Wholly-Owned Subsidiary of the Company that is a Foreign
Subsidiary Non-Guarantor and (ii) the Subsidiary Borrower or any Foreign
Subsidiary Guarantor that is a Wholly-Owned Subsidiary, on the other hand, where
the net benefit derived from such transaction is derived by the Subsidiary
Borrower or such Foreign Subsidiary Guarantor as the transferee in such
transaction, (i) transactions between (i) any non-Wholly-Owned Subsidiary of the
Company, any Affiliate of the Company (other than Wholly-Owned Subsidiaries) or
any Joint Venture in which the Company or any of its Subsidiaries is a Venturer,
on the one hand and (ii) the Company or any Wholly-Owned Subsidiary of the
Company, on the other hand, where the net benefit derived from such transaction
is derived by the Company or such Wholly-Owned Subsidiary as the transferee in
such transaction and (j) transactions among the Company and/or one or more
Subsidiaries expressly permitted under Section 7.3. 

“Permitted Release Guarantors” means, individually or collectively, each of (a)
Maremont Corporation, a Delaware corporation, (b) Maremont Exhaust Products,
Inc., a Delaware corporation, (c) AVM, Inc., a South Carolina corporation and
(d) ArvinMeritor, Inc., a Delaware corporation. 

“Permitted Strategic
Transactions” means one or
more transactions: (a) entered into between (i) the Company or one of its
Wholly-Owned Subsidiaries, on the one hand and (ii) any non-Wholly-Owned
Subsidiary, Affiliate (other than Wholly-Owned Subsidiaries) or Joint Venture,
on the other hand, (b) where the principal factor for the Company or the
Wholly-Owned Subsidiary entering into such a transaction is to provide for a
more tax-efficient structure or to accomplish strategic objectives and (c) where
such transaction or transactions are not materially adverse to the interests of
the Lenders in their capacities as Lenders under this Agreement. 

“Person” means any individual, corporation, firm, enterprise, partnership,
trust, incorporated or unincorporated association, joint venture, joint stock
company, limited liability company or other entity of any kind, or any
government or political subdivision or any agency, department or instrumentality
thereof. 

“Plan” means an employee benefit plan defined in Section 3(3) of ERISA (other
than a Foreign Plan) in respect of which the Company or any member of the
Controlled Group is an “employer” as defined in Section 3(5) of ERISA.

27 

“Pledge and Security Agreement” means that certain Third Amended and Restated
Pledge and Security Agreement, dated as of the Restatement Effective Date,
executed by the Company, the Domestic Subsidiary Guarantors and the
Administrative Agent for the benefit of the Holders of Secured Obligations, as
the same may be amended, restated, supplemented, or otherwise modified from time
to time. 

“Pledge Subsidiary” means (i) each Domestic Subsidiary (including
each SPV with respect to each Permitted Domestic Receivables Financing), (ii)
each First Tier Foreign Subsidiary and (iii) any other Foreign Subsidiary the
pledge of the Capital Stock of which (a) from time to time in the reasonable
credit judgment of the Administrative Agent, could provide material credit
support to secure the Secured Obligations and (b) would not cause a Deemed
Dividend Problem or a Financial Assistance Problem. 

“Pounds Sterling” means the lawful currency of the United Kingdom.

“PP&E Amount” means, as of any date, the net book value as of
such date of all Collateral of a Loan Party subject to a first priority
perfected Lien in favor of the Administrative Agent (for the benefit of the
Holders of Secured Obligations) that is not shared equally and ratably with any
other creditor, consisting of real property and equipment, determined in
accordance with generally accepted accounting principles as in effect in the
United States of America from time to time, but excluding any portion of the
PP&E Amount that constitutes Restricted Collateral. 

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

“Priority Debt” means, as of any date of determination, without
duplication:

(i) the aggregate
outstanding Dollar Amount of the Revolving Loans, L/C Obligations and Term Loans
(if any) under this Agreement;

plus (ii) any and all debt (determined in accordance
with Agreement Accounting Principles) of any Foreign Subsidiary (whether secured
or unsecured) other than debt the proceeds of which are used to finance the
working capital needs of such Foreign Subsidiary (which exclusion shall include
Receivables Facility Attributed Indebtedness of such Foreign Subsidiary under
any Permitted Foreign Receivables Financing); 

plus (iii) any and all debt (determined in accordance
with Agreement Accounting Principles) of the Company and its Subsidiaries that
is secured by any Lien of a type described in Section 7.3(F)(i), (vi), (viii), (ix), (x), (xvi) or (xvii) (solely as such clause (xvii) relates to extensions, renewals or replacements
of Liens referred to in the foregoing subsections);

plus (iv) any and all Receivables Facility Attributed
Indebtedness of the Company and its Domestic Subsidiaries under any Permitted
Domestic Receivables Financing. 

28 

“Priority Debt Ratio” means, as of the last day of any fiscal quarter,
the ratio of (i) Priority Debt as of such date to (ii) EBITDA for the four
consecutive fiscal quarters then ended on such date. 

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

“Proposed New Lender” is defined in Section 2.23(B) hereof. 

“Pro Rata Share” means, with respect to any Lender, (a) with
respect to Revolving Loans, L/C Obligations or any determination of “Required
Revolving Loan Lenders”, a percentage equal to a fraction the numerator of which
is such Lender’s Revolving Loan Commitment and the denominator of which is the
Aggregate Revolving Loan Commitment (or if the Revolving Loan Commitments have
terminated or expired, the Pro Rata Shares shall be determined based upon such
Lender’s share of the Revolving Credit Obligations at that time), (b) with
respect to the Term Loans, a percentage equal to a fraction the numerator of
which is such Lender’s outstanding principal amount of the Term Loans and the
denominator of which is the aggregate outstanding amount of the Term Loans of
all Lenders and (c) with respect to any reimbursement or indemnity obligation
applicable to all of the Lenders or any determination of “Required Lenders”, a
percentage equal to a fraction the numerator of which is the sum of such
Lender’s Revolving Loan Commitment (or, if the Revolving Loan Commitments have
been terminated or expired, such Lender’s share of the Revolving Credit
Obligations) and such Lender’s outstanding principal amount of the Term Loans
and the denominator of which is the sum of the Aggregate Revolving Loan
Commitment (or, if the Aggregate Revolving Loan Commitment has been terminated
or expired, the Revolving Credit Obligations) and the aggregate outstanding
principal balance of the Term Loans. In the event that any Class of the
Revolving Loan Commitments has been terminated or expired, computations of Pro
Rata Shares pursuant to the foregoing clauses (a) and
(c) shall be made based on the Revolving Loan
Commitments of each Class that were in effect immediately prior to any such
termination or expiration so as to not affect the Pro Rata Share of any Lender
in such terminated Class prior to repayment of its obligations.

“Purchasers” is defined in Section 13.3(A) hereof. 

“Quotation Day” means, with respect to any Eurocurrency Rate
Advance for any Interest Period, (i) if the currency is Pounds Sterling, the
first day of such Interest Period, (ii) if the currency is euro, the day that is
two (2) TARGET2 Days before the first day of such Interest Period, and (iii) for
any other currency, two (2) Business Days prior to the commencement of such
Interest Period (unless, in each case, market practice differs in the relevant
market where the Eurocurrency Base Rate for such currency is to be determined,
in which case the Quotation Day will be determined by the Administrative Agent
in accordance with market practice in such market (and if quotations would
normally be given on more than one day, then the Quotation Day will be the last
of those days)). 

“Rate Option” means the Eurocurrency Rate or the Floating
Rate, as applicable. 

29 

“Receivable(s)” means and includes all of the Company’s and its
Subsidiaries’ presently existing and hereafter arising or acquired accounts,
accounts receivable, and all present and future rights of the Company and its
Subsidiaries to payment for goods sold or leased or for services rendered,
whether or not they have been earned by performance, and all rights in any
merchandise or goods which any of the same may represent, and all rights, title,
security and guaranties with respect to each of the foregoing, including,
without limitation, any right of stoppage in transit. 

“Receivables and Related
Security” means the
Receivables and the related security and collections with respect thereto which
are sold or transferred by any Originator or SPV in connection with any
Permitted Receivables Financing. 

“Receivables Facility Attributed
Indebtedness” means the
amount of obligations outstanding under receivables purchase facilities or
factoring transactions on any date of determination that would be characterized
as principal if such facilities or transactions were structured as secured
lending transactions rather than as purchases, whether such obligations
constitute on-balance sheet Indebtedness or an Off-Balance Sheet Liability.

“Receivables Facility Financing
Costs” means (i) the interest
expense payable by the Company and its Subsidiaries in accordance with Agreement
Accounting Principles on any Receivables Facility Attributed Indebtedness
constituting on-balance sheet Indebtedness or (ii) the discount or implied
interest component of Receivables Facility Attributed Indebtedness retained by
purchasers of Receivables and Related Security pursuant to a Permitted
Receivables Financing. 

“Register” is defined in Section 13.3(E) hereof. 

“Regulation U” means Regulation U of the Board as from time to
time in effect and any successor or other regulation or official interpretation
of the Board relating to the extension of credit by banks, non-banks and
non-broker lenders for the purpose of purchasing or carrying Margin Stock
applicable to member banks of the Federal Reserve System. 

“Regulation X” means Regulation X of the Board as from time to
time in effect and any successor or other regulation or official interpretation
of the Board relating to the extension of credit by foreign lenders for the
purpose of purchasing or carrying margin stock (as defined therein). 

“Reimbursement Obligation” is defined in Section 3.7 hereof. 

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

“Release” means any release, spill, emission, leaking, pumping, injection, deposit,
disposal, discharge, dispersal, leaching or migration into the indoor or outdoor
environment, including the movement of Contaminants through or in the air, soil,
surface water or groundwater. 

30 

“Replacement Lender” is defined in Section 2.19 hereof. 

“Reportable Event” means a reportable event as defined in Section
4043 of ERISA and the regulations issued under such section, with respect to a
Plan, excluding, however, such events as to which the PBGC by regulation waived
the requirement of Section 4043(a) of ERISA that it be notified within 30 days
of the occurrence of such event. 

“Request for Letter of Credit” is defined in Section 3.4(A) hereof. 

“Required Lenders” means, subject to Section 2.22, Lenders whose Pro Rata Shares, in the aggregate,
are greater than fifty percent (50%). 

“Required Revolving Loan
Lenders” means, subject to
Section 2.22, Revolving Loan Lenders whose Pro Rata Shares, in
the aggregate, are greater than fifty percent (50%). 

“Restatement Effective Date” has the meaning specified in the Third Amendment
and Restatement Agreement. 

“Restricted Collateral” means any “Principal Property” of the Company or
a “Restricted Subsidiary” or “shares of stock or indebtedness of a Restricted
Subsidiary,” in each case, as defined in or within the meaning of any of the
Senior Note Indentures. For the avoidance of doubt, Restricted Collateral shall
include, without limitation, all “1998 Restricted Collateral” (under and as
defined in the Pledge and Security Agreement). 

“Restricted Payment” means (i) any dividend or other distribution,
direct or indirect, on account of any Capital Stock of the Company now or
hereafter outstanding, except a dividend payable solely in the Company’s Capital
Stock (other than Disqualified Stock) or in options, warrants or other rights to
purchase such Capital Stock, (ii) any redemption, retirement, purchase or other
acquisition for value, direct or indirect, of any Capital Stock of the Company
now or hereafter outstanding, other than in exchange for, or out of the proceeds
of, the substantially concurrent sale (other than to a Subsidiary of the
Company) of other Capital Stock of the Company (other than Disqualified Stock),
(iii) any voluntary redemption, purchase, retirement, defeasance, prepayment or
other acquisition for value, direct or indirect, of any subordinated
Indebtedness (excluding any Indebtedness described in Section 7.3(A)(iii)), any note issued under any indenture or Senior
Note Indenture (excluding any Permitted Refinancing Indebtedness of Indebtedness
issued under a Senior Note Indenture) or any Disqualified Stock, (iv) any
payment of a claim for the rescission of the purchase or sale of, or for
material damages arising from the purchase or sale of, any Indebtedness (other
than the Obligations) or any Capital Stock of the Company or of a claim for
reimbursement, indemnification or contribution arising out of or related to any
such claim for damages or rescission and (v) any other transaction that has a
substantially similar effect as the transactions described in the foregoing
clauses (i) through (iv). 

“Revolving Advance” means an Advance consisting of Revolving
Loans.

“Revolving Credit Availability” means, at any particular time, the amount by
which (i) the Aggregate Revolving Loan Commitment at such time exceeds (ii) the
Dollar Amount of the Revolving Credit Obligations outstanding at such time.

31 

“Revolving Credit Obligations” means, at any particular time, the sum of (i)
the outstanding principal Dollar Amount of the Revolving Loans (including, for
the avoidance of doubt, any Incremental Revolving Loans) at such time,
plus (ii) the Dollar Amount of outstanding L/C
Obligations at such time. 

“Revolving Loan” is defined in Section 2.1(A) hereof. 

“Revolving Loan Commitment” means, with respect to any Lender, the
obligation of such Lender to make Revolving Loans and to purchase participations
in Letters of Credit in an aggregate Dollar Amount not exceeding the amount set
forth on Exhibit A to this Agreement opposite its name thereon under
the heading “Revolving Loan Commitment” or the signature page of the Assignment
Agreement or Commitment and Acceptance by which it became a Lender, as such
amount may be increased or decreased from time to time pursuant to the terms of
this Agreement or to give effect to any applicable Assignment Agreement or
Commitment and Acceptance. 

“Revolving Loan Lender” means any Lender with a Revolving Loan
Commitment or, if the Revolving Loan Commitments have terminated or expired, a
Lender with Revolving Credit Obligations.

“Revolving Loan Termination
Date” means March 31, 2022;
provided, however, that if the
aggregate outstanding principal amount of the 6.75% Senior Notes due June 15,
2021 is greater than $25,000,000 on March 8, 2021, the Revolving Loan
Termination Date shall be March 10, 2021. 

“Revolving Pro Rata Share” means, with respect to any Revolving Loan
Lender, a percentage equal to a fraction the numerator of which is such
Revolving Loan Lender’s Revolving Loan Commitment and the denominator of which
is the Aggregate Revolving Loan Commitment (or if the Revolving Loan Commitments
have terminated or expired, the Revolving Pro Rata Shares shall be determined
based upon such Revolving Loan Lender’s share of the Revolving Credit
Obligations at that time). 

“S&P” means Standard & Poor’s Ratings Services, a Standard & Poor’s
Financial Services LLC business.

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

“Sanctioned Country” means, at any time, a country, region or
territory which is itself the subject or target of any Sanctions (at the time of
this Agreement, Crimea, Cuba, Iran, North Korea, Sudan and Syria). 

“Sanctioned Person” means, at any time, (a) any Person listed in any
Sanctions-related list of designated Persons maintained by OFAC, the U.S.
Department of State, the United Nations Security Council, the European Union,
any European Union member state, Her Majesty’s Treasury of the United Kingdom,
or other relevant sanctions authority (b) any Person operating, organized or
resident in a Sanctioned Country or (c) any Person owned or controlled by any
such Person or Persons described in the foregoing clauses (a) or (b).

32 

“Sanctions” means all economic or financial sanctions or
trade embargoes imposed, administered or enforced from time to time by (a) the
U.S. government, including those administered by OFAC or the U.S. Department of
State or (b) the United Nations Security Council, the European Union, any
European Union member state, Her Majesty’s Treasury of the United Kingdom, or
other relevant sanctions authority. 

“Secured Obligations” means (i) all Obligations and (ii) all Hedging
Obligations and Treasury Obligations of the Company or any Domestic Subsidiary
Guarantor owing to any Lender or any Affiliate of any Lender and (iii) all
Foreign Obligations owing to any Lender or any Affiliate of any Lender;
provided that the definition of “Secured Obligations”
shall not create or include any guarantee by any Loan Party of (or grant of
security interest by any Loan Party to support, as applicable) any Excluded Swap
Obligations of such Loan Party for purposes of determining any obligations of
any Loan Party. 

“Securities Act” means the Securities Act of 1933, as amended
from time to time. 

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

“Senior Note Indenture” means each of (a) the 1998 Senior Note
Indenture, (b) the 2007 Convertible Note Indenture, (c) the 2012 Convertible
Note Indenture and (e) any other indenture pursuant to which the Company or its
Subsidiaries shall have issued senior unsecured notes or convertible notes, and
“Senior Note
Indentures” means all of the
foregoing, collectively.

“Senior Notes” means any of the Company’s senior unsecured
notes or convertible notes issued under any Senior Note Indenture.

“Single Investment Grade Status” exists at any date if, on such date, (i) the
Company’s S&P Rating is BBB- (with stable outlook) or better and the
Company’s Moody’s Rating is Ba1 (with stable outlook) or better
or (ii) the Company’s Moody’s Rating is Baa3 (with
stable outlook) or better and the Company’s S&P Rating is BB+ (with stable
outlook) or better. 

“Solvent” means, with respect to any Person (individually or together with its
Subsidiaries (taken as a whole)) on a particular date, that on such date (i) the
fair value of the property of such Person is greater than the total amount of
liabilities, including contingent liabilities, of such Person, (ii) the present
fair salable value of the assets of such Person (determined on a going concern
basis) is not less than the amount that will be required to pay the probable
liability of such Person on its debts as they become absolute and matured, (iii)
such Person does not intend to, and does not believe that it will, incur debts
or liabilities beyond such Person’s ability to pay as such debts and liabilities
mature, and (iv) such Person is not engaged in a business or transaction, and is
not about to engage in a business or transaction, for which such Person’s
property would constitute an unreasonably small capital. The amount of
contingent liabilities (such as litigation, guaranties and pension plan
liabilities) at any time shall be computed as the amount that, in light of all
the facts and circumstances existing at the time, represents the amount that can
be reasonably be expected to become an actual or matured liability. 

33 

“Special Foreign Subsidiary” means, at any time, any Foreign Subsidiary (a)
whose assumption of joint and several liability hereunder for the Obligations of
the Company would not be unlawful under applicable law or have material adverse
tax consequences under applicable foreign law and (b) whose assumption of joint
and several liability hereunder for the Obligations of the Company would not
give rise to a Deemed Dividend Problem or a Financial Assistance Problem.

“Specified Swap Obligation” means, with respect to any Loan Party, any
obligation to pay or perform under any agreement, contract or transaction that
constitutes a “swap” within the meaning of Section 1a(47) of the Commodity
Exchange Act or any rules or regulations promulgated thereunder. 

“Springing Lien Status” exists at any date if, on such date, (i) the
Company’s S&P Rating is BB or less or (ii) the Company’s
Moody’s Rating is Ba2 or less. 

“SPV” means any special purpose entity established for the purpose of
purchasing receivables in connection with a receivables securitization
transaction permitted under the terms of this Agreement. 

“SPV Collateral Amount” means, as of any date of determination, with
respect to ARC or any other SPV party to the Company’s Permitted Domestic
Receivables Financing, for so long as ARC or such SPV remains designated as an
“Unrestricted Subsidiary” under and as defined in any Senior Note Indenture, the
sum of, without duplication, (a) the net value of the obligations owing from ARC
or such SPV to the Company and certain of its Domestic Subsidiaries under the
subordinated notes issued in consideration for the sale of Receivables and
Related Security to ARC or such SPV (after giving effect to any losses thereon
after the satisfaction in full of all obligations of ARC or such SPV under the
Permitted Domestic Receivables Securitization, assuming all such obligations
under the Permitted Domestic Receivables Securitization were due and payable in
full on such date), plus (b) the net book
value of the equity of ARC or such SPV, in each case, to the extent such
subordinated notes and equity constitute Collateral subject to a first priority
perfected Lien of the Administrative Agent (for the benefit of the Holders of
Secured Obligations) that is not shared equally and ratably with any other
creditor, and remain in the possession of the Administrative Agent. For the
avoidance of doubt, in no event shall the SPV Collateral Amount be determined
with respect to any Restricted Collateral. 

“Statutory Reserve Rate” means, with respect to any Agreed Currency, 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, liquid asset, fees or similar
requirements (including any marginal, special, emergency or supplemental
reserves or other requirements) established by any central bank, monetary
authority, the Board, the Financial Conduct Authority, the Prudential Regulation
Authority, the European Central Bank or other Governmental Authority for any
category of deposits or liabilities customarily used to fund loans in such
Agreed Currency, expressed in the case of each such requirement as a decimal.
Such reserve, liquid asset, fees or similar requirements shall include those
imposed pursuant to Regulation D of the Board. Eurocurrency Rate Loans shall be
deemed to constitute eurocurrency funding and to be subject to such reserve,
liquid asset, fee or similar requirements without benefit of or credit for
proration, exemptions or offsets that may be available from time to time to any
Lender under any applicable law, rule or regulation, including Regulation D of
the Board. The Statutory Reserve Rate shall be adjusted automatically on and as
of the effective date of any change in any reserve, liquid asset or similar
requirement. 

34 

“Subsidiary” of a Person means any corporation, limited
liability company, partnership, association, joint venture 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 Agreement Accounting Principles as of such date, as well as any
other (i) corporation more than fifty percent (50%) of the outstanding
securities having ordinary voting power of which shall at the time be owned or
controlled, directly or indirectly, by such Person or by one or more of its
Subsidiaries or by such Person and one or more of its Subsidiaries, or (ii)
partnership, limited liability company, association, joint venture or similar
business organization more than fifty percent (50%) of the ownership interests
having ordinary voting power of which shall at the time be so owned or
controlled. Unless otherwise expressly provided, all references herein to a
“Subsidiary” means a Subsidiary of the Company and shall include, without
limitation, the Subsidiary Borrower and each Subsidiary Guarantor. 

“Subsidiary Borrower” means ArvinMeritor Finance Ireland Unlimited
Company, a private unlimited liability company incorporated under the laws of
Ireland, together with its permitted successors and assigns, including a
debtor-in-possession or receiver (or entity of analogous status under applicable
foreign law) on behalf of such company. 

“Subsidiary Guarantors” means (i) all of the Company’s Domestic
Subsidiaries (excluding, subject to clause (iv) of
Section 7.2(K), SPVs) and Special Foreign Subsidiaries as of the
Restatement Effective Date, and (ii) all additional Subsidiaries of the Company
which become Subsidiary Guarantors in accordance with Section 7.2(K)(ii) or (iii) hereof, in each case, together with
their respective successors and assigns (including a debtor-in-possession (or
entity of analogous status under applicable foreign law) on behalf of any such
Subsidiary), unless and until such Subsidiary has been released from its
respective Subsidiary Guaranty in accordance with the terms of this
Agreement.

“Subsidiary Guaranty” means (a) that certain Third Amended and
Restated Guaranty, dated as of the Restatement Effective Date, executed by the
Domestic Subsidiary Guarantors and certain other Subsidiary Guarantors in favor
of the Administrative Agent, for the ratable benefit of the itself and the other
Holders of the Secured Obligations from time to time, unconditionally
guaranteeing all of the Secured Obligations or (b) any other guaranty executed
by any Subsidiary Guarantor in favor of the Administrative Agent, on behalf of
itself and Lenders, in respect of the Secured Obligations, in any such case, as
the same may be amended, restated, supplemented or otherwise modified from time
to time (including to add additional Subsidiary Guarantors). 

“Synthetic Lease” means a financing structure that qualifies as an
operating lease for financial reporting purposes under Agreement Accounting
Principles, but is considered a loan for tax purposes. 

35 

“Synthetic Lease Obligations” means any liabilities under any Synthetic Lease.

“TARGET2” means the Trans-European Automated Real-time Gross Settlement Express
Transfer (TARGET2) payment system (or, if such payment system
ceases to be operative, such other payment system (if any) reasonably determined
by the Administrative Agent to be a suitable replacement) for the settlement of
payments in euro. 

TARGET2
Day” means a day that TARGET2
is open for the settlement of payments in euro. 

“Taxes” is defined in Section
2.14(E)(i) hereof. 

“Term Loan” means an Incremental Term Loan, and “Term Loans”
means, collectively, all Incremental Term Loans. 

“Term Loan Commitment” means any Incremental Term Loan
Commitment.

“Term Loan Maturity Date” means, with respect to any Incremental Term
Loans, the earlier of (x) the maturity date established with respect to such
Incremental Term Loans or (y) the date on which the Obligations become due and
payable pursuant to Section
9.1 hereof. 

“Termination Date” means, with respect to any Revolving Loan Lender
(including its capacity as an Issuing Bank) the earlier of (a) the Revolving
Loan Termination Date applicable to such Revolving Loan Lender, and (b) the date
of termination in whole of the Aggregate Revolving Loan Commitment pursuant to
Section 2.5 or 9.1 hereof. 

“Termination Event” means (i) a Reportable Event with respect to any
Benefit Plan; (ii) the withdrawal of the Company or any member of the Controlled
Group from a Benefit Plan during a plan year in which the Company or such
Controlled Group member was a “substantial employer” as defined in Section
4001(a)(2) of ERISA; (iii) the imposition of an obligation on the Company or any
member of the Controlled Group under Section 4041 of ERISA to provide affected
parties written notice of intent to terminate a Benefit Plan in a distress
termination described in Section 4041(c) of ERISA; (iv) the institution by the
PBGC or any similar foreign governmental authority of proceedings to terminate
or appoint a Trustee to administer a Benefit Plan or Foreign Pension Plan; (v)
any event or condition which could reasonably constitute grounds under Section
4042 of ERISA for the termination of, or the appointment of a trustee to
administer, any Benefit Plan; (vi) the partial or complete withdrawal of the
Company or any member of the Controlled Group from a Multiemployer Plan or
Foreign Pension Plan or (vii) the termination or insolvency of a Multiemployer
Plan. 

“Third Amendment and Restatement
Agreement” means the Third
Amendment and Restatement Agreement dated as of March 31, 2017, among the
Borrowers, the Lenders party thereto and the Administrative Agent. 

“Transferee” is defined in Section 13.4 hereof.  

36 

“Treasury Agreements” means the documents, agreements or arrangements
entered into between the Company or any Domestic Subsidiary Guarantor and one or
more of the Lenders or their
Affiliates with respect to treasury management services (including without
limitation controlled disbursement, automated clearinghouse transactions, return
items, overdrafts and interstate depository network services, overdraft
liabilities and netting and pooling arrangements) and card services (including
without limitation commercial credit cards, purchasing cards and stored value
cards) of such Loan Parties, as the same may from time to time be amended,
modified, supplemented or restated. 

“Treasury Obligations” means all obligations and liabilities incurred
by the Company or any Domestic Subsidiary Guarantor (whether directly or as
guarantor) under or in connection with Treasury Agreements. 

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

“Unfunded Liabilities” means the amount (if any) by which the present
value of all vested and unvested accrued benefits under all Benefit Plans
exceeds the fair market value of all such Plan assets allocable to such
benefits, all determined as of the then most recent valuation date for such
Plans using PBGC actuarial assumptions for single employer plan terminations.

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

“Unsecured Basket Base Amount” is defined in Section 7.3(A)(x) hereof. 

“VAT” means value added tax as provided for in the Value Added Tax Act 1994
and any other tax of a similar nature. 

“Venturer” has the meaning given that term in the
definition of Joint Venture above. 

“Weighted Average Life to
Maturity” means when applied
to any Indebtedness at any date of determination, the number of years obtained
by dividing (i) the sum of the products obtained by multiplying (a) the amount
of each then remaining installment, sinking fund, serial maturity or other
required payments of principal, including payment at final maturity, in respect
thereof, by (b) the number of years (calculated to the nearest one-twelfth) that
will elapse between such date of determination and the making of such payment,
by (ii) the then outstanding principal amount of such Indebtedness; provided
that when determining the Weighted Average Life to Maturity for any Indebtedness
which has a put option allowing the holders of such Indebtedness to require the
issuer of such Indebtedness to repay such Indebtedness prior to its final
maturity, the final maturity for such Indebtedness shall be deemed to be the
next date following such date of determination on which such issuer is required
to repay such Indebtedness if the put option is exercised by the holders of such
Indebtedness. 

“Wholly-Owned Subsidiary” of a Person means (i) any Subsidiary all of the
outstanding voting securities of which (other than directors’ qualifying shares
and/or a nominal amount of shares required by law) shall at the time be owned or
controlled, directly or indirectly, by such Person or one or more Wholly-Owned
Subsidiaries of such Person, or by such Person and one or more Wholly-Owned
Subsidiaries of such Person or (ii) any partnership, limited liability
company, association, joint
venture or similar business organization 100% of the ownership interests having
ordinary voting power of which (other than directors’ qualifying equity
interests and/or a nominal amount of equity interests required by law) shall at
the time be so owned or controlled. 

37 

“Write-Down and Conversion
Powers” means, with respect
to any EEA Resolution Authority, the write-down and conversion powers of such
EEA Resolution Authority from time to time under the Bail-In Legislation for the
applicable EEA Member Country, which write-down and conversion powers are
described in the EU Bail-In Legislation Schedule.

The foregoing definitions
shall be equally applicable to both the singular and plural forms of the defined
terms. 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”. The word “law” shall be construed as referring to
all statutes, rules, regulations, codes and other laws (including official
rulings and interpretations thereunder having the force of law or with which
affected Persons customarily comply), and all judgments, orders and decrees, of
all Governmental Authorities. 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, restated, supplemented or otherwise modified
(subject to any restrictions on such amendments, restatements, supplements or
modifications set forth herein), (b) any definition of or reference to any
statute, rule or regulation shall be construed as referring thereto as from time
to time amended, supplemented or otherwise modified (including by succession of
comparable successor laws), (c) any reference herein to any Person shall be
construed to include such Person’s successors and assigns (subject to any
restrictions on assignment set forth herein) and, in the case of any
Governmental Authority, any other Governmental Authority that shall have
succeeded to any or all functions thereof, (d) 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, (e) 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 (f) 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. Any accounting terms used in this Agreement which are not
specifically defined herein shall have the meanings customarily given them in
accordance with Agreement Accounting Principles.

1.2. References. Any references to Subsidiaries of the Company set forth herein with
respect to representations and warranties which deal with historical matters
shall be deemed to include the Company and its Subsidiaries and shall not in any
way be construed as consent by the Administrative Agent or any Lender to the
establishment, maintenance or acquisition of any Subsidiary, except as may
otherwise be permitted hereunder. 

38 

1.3. Company Acting on Behalf of Itself and Subsidiary
Borrower. Whether or not
expressly provided herein, each notice or certificate delivered hereunder or in
connection herewith or the other Loan Documents by or to the Company (in its
capacity as a Borrower) or an officer thereof, and each notice or consent
requested by or from the Company (in its capacity as a Borrower) or an officer
thereof, shall be so delivered or given to, by or on behalf of the Company for
the benefit of itself and the Subsidiary Borrower. In furtherance and without
limitation of the foregoing, the Company is hereby authorized and given a power
of attorney by and on behalf of the Subsidiary Borrower to perform and accept
any and all such actions on its behalf under this Agreement and the other Loan
Documents. 

1.4. Joint and Several Liability for Obligations of the
Company and for Obligations of the Subsidiary Borrower; No
Liability of Subsidiary Borrower for Obligations of the Company. 

(A) Joint and Several Liability for Obligations of the
Subsidiary Borrower.
Notwithstanding anything to the contrary contained herein, the Company hereby
irrevocably and unconditionally retains and accepts, not merely as a surety but
also as a co-debtor, joint and several liability with the Subsidiary Borrower
with respect to the payment and performance of all of the Obligations of or
attributable to the Subsidiary Borrower arising hereunder or under the other
Loan Documents, it being the intention of the parties hereto that all of such
Obligations shall be the joint and several obligations of the Company and the
Subsidiary Borrower without preferences or distinction among them. Each
provision hereunder or in the Loan Documents relating to the obligations or
liabilities of the Subsidiary Borrower shall be deemed to include a reference to
the Company, as a joint and several obligor for such obligations and
liabilities, whether or not a specific reference to the Company is included
therein. 

(B) No Liability of Subsidiary Borrower for
Obligations of the Company.
Notwithstanding anything to the contrary contained herein and notwithstanding
that the Company shall be liable for all of the Loans and other Obligations of
the Subsidiary Borrower hereunder, the Subsidiary Borrower shall not be liable
for the Loans made to or any other Obligations incurred solely by or on behalf
of the Company; provided, however, that the Subsidiary Borrower hereby irrevocably and unconditionally
agrees that, at any time that, and for so long as, it is a Special Foreign
Subsidiary, it shall be jointly and severally liable with the Company (not
merely as a surety but also as a co-debtor) with respect to the payment and
performance of all of the Obligations of or attributable to the Company arising
hereunder or under the other Loan Documents, it being the intention of the
parties hereto that (i) all of such Obligations shall at such time be the joint
and several obligations of the Company and the Subsidiary Borrower without
preferences or distinction among them and (ii) each provision hereunder or in
the Loan Documents relating to the obligations or liabilities of the Company
shall at such time be deemed to include a reference to the Subsidiary Borrower,
as a joint and several obligor for such obligations and liabilities, whether or
not a specific reference to the Subsidiary Borrower is included therein.

(C) Guaranty of the Secured
Obligations. Each of the Company
and, at any time that, and for so long as, it is a Special Foreign Subsidiary,
the Subsidiary Borrower unconditionally guarantees the full and punctual payment
and performance when due (whether at stated maturity, upon acceleration or
otherwise) of the Secured Obligations on the terms more specifically set forth
in Article XVI hereof. 

39 

ARTICLE II: LOAN
FACILITIES 

2.1. Revolving Loans and Term Loans. 

(A) Revolving Loan Commitment. Upon the satisfaction of the applicable
conditions precedent set forth in Article V, from and
including the Restatement Effective Date and prior to the Termination Date
applicable to the Revolving Loan Lenders, each Revolving Loan Lender severally
and not jointly agrees, on the terms and conditions set forth in this Agreement,
to make revolving loans to the Borrowers from time to time, in any Agreed
Currency, in a Dollar Amount not to exceed such Lender’s Revolving Pro Rata
Share of Revolving Credit Availability at such time (each individually, a
“Revolving
Loan” and, collectively, the
“Revolving
Loans”); provided, however, that, except as permitted under Section 2.4(B), (i) (x) at no time shall the Dollar Amount of
the Revolving Credit Obligations exceed the Aggregate Revolving Loan Commitment,
(y) at no time shall the Dollar Amount of such Lender’s Revolving Credit
Obligations exceed such Lender’s Revolving Loan Commitment, or (z) at no time
shall the Dollar Amount of the Revolving Credit Obligations denominated in
Agreed Currencies other than Dollars exceed the Foreign Currency Sublimit and
(ii) at no time shall the Facility Obligations Amount exceed the Collateral
Value Amount. Subject to the terms of this Agreement, the Borrowers may borrow,
repay and reborrow Revolving Loans at any time prior to the Termination Date
applicable to the Revolving Loan Lenders. The Revolving Loans made pursuant to
this Section 2.1 to the Company shall be, at the option of the
Company, selected in accordance with Section 2.7, either
Floating Rate Advances in Dollars or Eurocurrency Rate Advances in any Agreed
Currency. The Revolving Loans made pursuant to this Section 2.1 to the Subsidiary Borrower shall be Eurocurrency Rate Advances in any
Agreed Currency. On the Termination Date applicable to the Revolving Loan
Lenders, the Borrowers shall repay in full the outstanding principal balance of
the Revolving Loans. “Revolving Loans” (under and as defined in the Existing
Credit Agreement) outstanding on the Restatement Effective Date immediately
before giving effect to the amendment and restatement of the Existing Credit
Agreement shall continue as Revolving Loans hereunder as more specifically
described in the Third Amendment and Restatement Agreement. 

(B) Borrowing/Election Notice. The Company (on behalf of itself or the
Subsidiary Borrower) shall deliver to the Administrative Agent a
Borrowing/Election Notice, signed by it, in accordance with the terms of
Section 2.7, in order to request an Advance. 

(C) Making of Revolving Loans. Promptly after receipt of the Borrowing/Election
Notice under Section
2.7 in respect of Revolving Loans
of any Class, the Administrative Agent shall notify each Revolving Loan Lender
of such Class in writing (including electronic transmission, facsimile
transmission or similar writing) of the requested Revolving Loan. Each Revolving
Loan Lender of such Class shall make available its Revolving Loan in accordance
with the terms of Section
2.6. The Administrative Agent
will promptly make the funds so received from the Revolving Loan Lenders
available to the applicable Borrower at the Administrative Agent’s office in New
York, New York or the applicable Eurocurrency Payment Office on the applicable
Borrowing Date and shall disburse such proceeds in accordance with the
disbursement instructions set forth in such Borrowing/Election Notice. The
failure of any Revolving Loan Lender to deposit the amount described above with
the Administrative Agent on the applicable Borrowing Date shall not relieve any
other Revolving Loan Lender of its obligations hereunder to make its Revolving
Loan on such Borrowing Date. 

40 

(D) Term Loans. Upon the satisfaction of the applicable conditions precedent set forth
in Article V and Section 2.23, each Lender
with an Incremental Term Loan Commitment severally and not jointly agrees, on
the terms and conditions set forth in this Agreement, to make an Incremental
Term Loan in Dollars to the Company on the effective date of any applicable
Commitment Increase pursuant to Section 2.23 hereof, in an
amount equal to such Lender’s Incremental Term Loan Commitment; provided, that at no time shall the Facility Obligations Amount exceed the
Collateral Value Amount. Each such Lender shall make the amount of such Lender’s
Incremental Term Loan available to the Administrative Agent in New York, New
York at its address specified in Article XIV in funds immediately
available, as specified in any amendment contemplated by Section 2.23(D)(iv). After the Administrative Agent’s receipt of the
proceeds of such Incremental Term Loans from the applicable Lenders, the
Administrative Agent shall make the proceeds of such Incremental Term Loans
available to the Company on the date on which any Incremental Term Loans are
made by transferring immediately available funds equal to the proceeds of such
Incremental Term Loans received by the Administrative Agent as the Company shall
instruct in writing. Additional terms (if any) applicable to any Incremental
Term Loans shall be established in accordance with the terms of Section 2.23 pursuant to an amendment to this Agreement as
contemplated by Section
2.23(D)(iv). 

2.2. [Reserved].

2.3. Rate Options for all Advances; Maximum Interest
Periods. The Revolving Loans and
Term Loans may be Floating Rate Advances or Eurocurrency Rate Advances, or a
combination thereof, selected by the Company (on behalf of itself or the
Subsidiary Borrower) in accordance with Sections 2.7 and
2.9. The Company may select, in accordance with
Sections 2.7 and 2.9, Rate Options and
Interest Periods applicable to portions of the Revolving Loans and Term Loans;
provided, that there shall be no more than eight (8)
Interest Periods in effect with respect to all of the Loans at any time;
provided, further, that (x) all
Floating Rate Advances and all Term Loans to the Company hereunder shall be
denominated in Dollars and (y) all Revolving Loans to the Subsidiary Borrower
shall be Eurocurrency Rate Advances. 

41 

2.4. Optional Payments; Mandatory Prepayments. Optional
Payments. The Borrowers may from
time to time and at any time, upon notice to the Administrative Agent, repay or
prepay, without penalty or premium, all or any part of outstanding Floating Rate
Advances in an aggregate minimum amount of $5,000,000 and in integral multiples
of $1,000,000 in excess thereof. Eurocurrency Rate Advances may be voluntarily
repaid or prepaid prior to the last day of the applicable Interest Period,
subject to the indemnification provisions contained in Section 4.4, in an aggregate minimum amount of $5,000,000 (or the Equivalent Amount
if denominated in an Agreed Currency other than Dollars) and in integral
multiples of $1,000,000 (or the Equivalent Amount if denominated in an Agreed
Currency other than Dollars) in excess thereof; provided, that no Borrower may so prepay Eurocurrency Rate Advances unless it
shall have provided at least three (3) Business Days’ prior written notice to
the Administrative Agent of such prepayment if the Advance subject to such
prepayment is denominated in Dollars and four (4) Business Days’ prior written
notice to the Administrative Agent if the Advance subject to such prepayment is
denominated in an Agreed Currency other than Dollars.

(B) Mandatory Prepayments of Loans.

(i) If at any time and
for any reason (other than fluctuations in currency exchange rates) the Net
Aggregate Revolving Credit Exposure is greater than the Aggregate Revolving Loan
Commitment, the Borrowers shall immediately prepay Revolving Loans (or, to the
extent such excess is greater than the aggregate outstanding principal balance
of the Revolving Loans, pay immediately available funds to the Administrative
Agent, which funds shall be held in the L/C Collateral Account) in an aggregate
amount equal to such excess. 

(ii) If as of any date
of determination of the Net Aggregate Revolving Credit Exposure, solely as a
result of fluctuations in currency exchange rates: 

(a) the Net Aggregate
Revolving Credit Exposure exceeds one hundred five percent (105%) of the
Aggregate Revolving Loan Commitment, the Borrowers shall immediately prepay
Revolving Loans (or, to the extent such excess is greater than the aggregate
outstanding principal balance of the Revolving Loans, pay immediately available
funds to the Administrative Agent, which funds shall be held in the L/C
Collateral Account) in an aggregate amount such that after giving effect thereto
the Net Aggregate Revolving Credit Exposure is less than or equal to the
Aggregate Revolving Loan Commitment; or 

(b) the portion of the
Net Aggregate Revolving Credit Exposure denominated in Agreed Currencies other
than Dollars exceeds one hundred five percent (105%) of the Foreign Currency
Sublimit, the Borrowers shall immediately prepay Revolving Loans (or, to the
extent such excess is greater than the aggregate outstanding principal balance
of the Revolving Loans, pay immediately available funds to the Administrative
Agent, which funds shall be held in the L/C Collateral Account) in an aggregate
amount such that after giving effect thereto the portion of the Net Aggregate
Revolving Credit Exposure denominated in Agreed Currencies other than Dollars is
less than or equal to the Foreign Currency Sublimit. 

42 

(iii) The Administrative
Agent shall determine the Net Aggregate Revolving Credit Exposure (x) as of the
end of each Interest Period related to any Eurocurrency Rate Advance which is a
Revolving Advance and (y) at any other time as the Administrative Agent shall
determine in its discretion. If as of the date of any determination of the Net
Aggregate Revolving Credit Exposure by the Administrative Agent pursuant to this
clause (iii) or Section 9.1(C), (x) no
Default or Unmatured Default has occurred and is continuing, (y) the Aggregate
Revolving Loan Commitment exceeds the Net Aggregate Revolving Credit Exposure
and (z) the amount of funds on deposit in the L/C Collateral Account is greater
than zero, then the Administrative Agent shall release and disburse to the
Company from the L/C Collateral Account funds in a Dollar Amount equal to the
lesser of the excess described in the foregoing clause (y) and the Dollar Amount of funds on deposit in the L/C Collateral Account;
provided, that, after giving effect to any such release
and disbursement, the portion of the Net Aggregate Revolving Credit Exposure
denominated in Agreed Currencies other than Dollars shall not exceed the Foreign
Currency Sublimit. 

(iv) If, upon any
determination of the Collateral Value Amount, the Facility Obligations Amount
exceeds the Collateral Value Amount, the Borrowers shall, within two (2)
Business Days thereafter, prepay Loans and Reimbursement Obligations ratably
among each Class in an amount equal to such excess (or, to the extent such
excess payable to the Revolving Loan Lenders is greater than the aggregate
outstanding principal balance of the Loans and Reimbursement Obligations of such
Class, pay immediately available funds to the Administrative Agent in order to
cash collateralize any additional L/C Obligations, which funds shall be held in
the L/C Collateral Account).

(v) All of the mandatory
prepayments of Loans made pursuant to this Section 2.4(B) shall be applied first to Floating Rate Advances and second to any Eurocurrency
Rate Advances maturing on such date and then to subsequently maturing
Eurocurrency Rate Advances in order of maturity, subject to Section 4.4 hereof. 

Nothing herein shall affect
the Borrowers’ obligations to repay all Revolving Credit Obligations or Term
Loans when due in accordance with the terms hereof. 

2.5. Voluntary Reduction of Commitments. The Company (on behalf of itself and the
Subsidiary Borrower) may permanently reduce the Aggregate Revolving Loan
Commitment in whole, or in part ratably among the Revolving Loan Lenders of such
Class, in an aggregate minimum amount of $5,000,000 with respect thereto and
integral multiples of $2,500,000 in excess of that amount with respect thereto
(unless the Revolving Loan Commitments of a Class are reduced in whole), upon at
least three (3) Business Days’ prior written notice to the Administrative Agent,
which notice shall specify the amount of any such reduction; provided, however, that the amount of the total Revolving Loan
Commitments of any Class may not be reduced below the Dollar Amount of the
Revolving Credit Obligations of such Class. All accrued commitment fees in
respect of such Class shall be payable on the effective date of any termination
of the obligations of any Revolving Loan Lenders of such Class to make Revolving
Loans of such Class hereunder. 

43 

2.6. Method of Borrowing of Revolving
Loans. On each Borrowing Date for
each Revolving Loan of any Class, each Revolving Loan Lender of such Class shall
make available its Revolving Loan (i) if such Loan is being made to the Company
and is denominated in Dollars, not later than 3:00 p.m. (New York time) in
Federal or other funds immediately available to the Administrative Agent, in New
York, New York at its address specified in or pursuant to Article XIV, (ii) if such Loan is denominated in an Agreed
Currency other than Dollars, not later than 12:00 noon (Local Time), in such
funds as may then be customary for the settlement of international transactions
in such currency in the city of and at the address of the Administrative Agent’s
Eurocurrency Payment Office for such currency and (iii) if such Loan is being
made to the Subsidiary Borrower, not later than 12:00 noon (Local Time), in
funds immediately available to the Administrative Agent, in London, England, at
its address specified in or pursuant to Article XIV. The
Administrative Agent will promptly make the funds so received from the Lenders
available to the applicable Borrower at the Administrative Agent’s aforesaid
applicable address. 

2.7. Method of Selecting Classes, Types, Currency and
Interest Periods for New
Advances. The Company (on behalf of itself or the
Subsidiary Borrower) shall select the Class and Type of Advance and, in the case
of each Eurocurrency Rate Advance, the Interest Period and Agreed Currency
applicable thereto, for each Revolving Advance to be made pursuant to
Section 2.1(A) and for each Term Loan Advance to be made
pursuant to Section
2.1(D). The Company shall give
the Administrative Agent irrevocable notice in substantially the form of
Exhibit B hereto (a “Borrowing/Election Notice”) not later than 1:00 p.m. (Local Time) (a) on
the proposed Borrowing Date of each Floating Rate Advance, (b) three (3)
Business Days before the Borrowing Date for each Eurocurrency Rate Advance to be
made in Dollars, and (c) four (4) Business Days before the Borrowing Date for
each Eurocurrency Rate Advance to be made in an Agreed Currency other than
Dollars, specifying: (w) the Borrowing Date (which shall be a Business Day) of
such Advance; (x) the aggregate amount of such Advance; (y) the Class and the
Type of Advance selected; and (z) in the case of each Eurocurrency Rate Advance,
the Interest Period and Agreed Currency applicable thereto.

2.8. Minimum Amount of Each Revolving
Advance. Each Revolving Advance
(other than a Revolving Advance of Revolving Loans to repay a Reimbursement
Obligation) shall be in a minimum amount of $5,000,000 (or the Equivalent Amount
if denominated in an Agreed Currency other than Dollars) and in multiples of
$1,000,000 (or the Equivalent Amount if denominated in an Agreed Currency other
than Dollars) if in excess thereof; provided, however, that any Floating Rate Advance may be in the Dollar Amount of the
unused total Revolving Loan Commitment in respect of the applicable Class.

2.9. Method of Selecting Types, Currency and Interest
Periods for Conversion and Continuation of Outstanding
Advances. Right to Convert. The
Company (on behalf of itself or the Subsidiary Borrower) may elect from time to
time, subject to the provisions of Section 2.3 and this
Section 2.9, to convert all or any part of an Advance of any
Type into any other Type or Types of Advance; provided, that any conversion of any Eurocurrency Rate Advance shall be made on,
and only on, the last day of the Interest Period applicable thereto.

44 

(B) Automatic Conversion and
Continuation. Each Floating Rate
Advance shall continue as a Floating Rate Advance unless and until such Floating
Rate Advance is converted into a Eurocurrency Rate
Advance. Each Eurocurrency Rate Advance in Dollars shall continue as a
Eurocurrency Rate Advance in Dollars until the end of the then applicable
Interest Period therefor, at which time such Eurocurrency Rate Advance shall be
automatically converted into a Floating Rate Advance unless the Company shall
have given the Administrative Agent notice in accordance with Section 2.9(D) requesting that, at the end of such Interest
Period, such Eurocurrency Rate Advance continue as a Eurocurrency Rate Advance
in Dollars. Unless a Borrowing/Election Notice shall have timely been given in
accordance with the terms of this Section 2.9, each
Eurocurrency Rate Advance in an Agreed Currency other than Dollars shall
automatically continue as a Eurocurrency Rate Advance in such Agreed Currency
with an Interest Period of one (1) month. 

(C) No Conversion Post-Default or Post-Unmatured
Default. Notwithstanding anything
to the contrary contained in Section 2.9(A) or
2.9(B), no Advance may be converted into or continued as
a Eurocurrency Rate Advance (except with the consent of the Required Lenders)
when any Default or Unmatured Default has occurred and is continuing.

(D) Borrowing/Election Notice. The Company (on behalf of itself or the
Subsidiary Borrower) shall give the Administrative Agent an irrevocable
Borrowing/Election Notice of each conversion of a Floating Rate Advance into a
Eurocurrency Rate Advance or continuation of a Eurocurrency Rate Advance not
later than 1:00 p.m. (Local Time) (x) three (3) Business Days prior to the date
of the requested conversion or continuation, with respect to any Advance to be
converted or continued as a Eurocurrency Rate Advance in Dollars, and (y) four
(4) Business Days prior to the date of the requested conversion or continuation
with respect to any Advance to be converted or continued as a Eurocurrency Rate
Advance in an Agreed Currency other than Dollars, specifying: (i) the requested
date (which shall be a Business Day) of such conversion or continuation; (ii)
the amount and Type of the Advance to be converted or continued; and (iii) the
amount of Eurocurrency Rate Advance(s) into which such Advance is to be
converted or continued and the Agreed Currency and Interest Period applicable
thereto. 

(E) Limitations on Conversion. Notwithstanding anything herein to the contrary,
(i) at the election of the Company under this Section 2.9, Eurocurrency Rate Advances in an Agreed Currency may be converted
and/or continued as Eurocurrency Rate Advances only in the same Agreed Currency
and (ii) no Eurocurrency Rate Advance made to the Subsidiary Borrower may be
converted into a Floating Rate Advance. 

2.10. Default Rate. After the occurrence and during the continuance
of a Default described in Section
8.1(B) or, at the option of the
Administrative Agent or at the direction of Required Lenders, after the
occurrence and during the continuance of any other Default, the interest rate(s)
applicable to the Obligations shall be equal to the then applicable rate
plus two percent (2.0%) per annum, and the fee
described in Section
3.8(A) shall be equal to the then
Applicable L/C Fee Percentage plus two percent (2.0%)
per annum. 

45 

2.11. Method of Payment. 

(A) All payments of
principal, interest, fees, commissions and L/C Obligations hereunder shall be
made, without setoff, deduction or counterclaim (unless indicated otherwise in
Section 2.14(E)), in immediately available funds to the
Administrative Agent (i) at the Administrative Agent’s
address specified pursuant to Article XIV with respect
to Advances or other Obligations denominated in Dollars, (ii) at the applicable
Eurocurrency Payment Office with respect to any Advance or other Obligations
denominated in an Agreed Currency other than Dollars, or at any other Lending
Installation of the Administrative Agent specified in writing by the
Administrative Agent to the Company and (iii) with respect to any payment due
from or on behalf of the Subsidiary Borrower, at the Administrative Agent’s
address in London, England, specified pursuant to Article XIV, in the case of the foregoing clauses (i) and
(ii), by 1:00 p.m. (Local Time) or, in the case of the
foregoing clause
(iii), by 3:00 p.m. (Local Time),
in each case, on the date when due and shall be made ratably among the Lenders
(unless such amount is not to be shared ratably in accordance with the terms
hereof). Each Advance shall be repaid or prepaid in the Agreed Currency in which
it was made in the amount borrowed and interest payable thereon shall also be
paid in such currency. Each payment delivered to the Administrative Agent for
the account of any Lender shall be delivered promptly by the Administrative
Agent to such Lender in the same type of funds which the Administrative Agent
received at its address specified pursuant to Article XIV, at the applicable Eurocurrency Payment Office or at any Lending
Installation specified in a notice received by the Administrative Agent from
such Lender. The Company authorizes the Administrative Agent to charge the
accounts of the Company and the Subsidiary Guarantors maintained with JPMCB or
any of its Affiliates for each payment of principal, interest, fees,
commissions, L/C Obligations or any other Obligations as it becomes due
hereunder. Each reference to the Administrative Agent in this Section 2.11 shall also be deemed to refer, and shall apply
equally, to each Issuing Bank, in the case of payments required to be made by
the Company or any Lender to such Issuing Bank pursuant to Article III. 

(B) Notwithstanding the
foregoing provisions of this Section 2.11, if, after
the making of any Advance or the issuance of any Letter of Credit in any Agreed
Currency other than Dollars, currency control or exchange regulations are
imposed in the country which issues such Agreed Currency, with the result that
different types of such Agreed Currency (the “New Currency”) are introduced and the type of currency in
which the Advance was made (the “Original Currency”) no longer
exists or any Borrower is not able to make payment to the Administrative Agent
or Issuing Bank for the account of the Lenders in such Original Currency, then
all payments to be made by the Borrowers hereunder in such currency shall be
made to the Administrative Agent in such amount and such type of the New
Currency or Dollars as shall be the Equivalent Amount of such payment otherwise
due hereunder in the Original Currency, it being the intention of the parties
hereto that the Borrowers take all risks of the imposition of any such currency
control or exchange regulations. 

2.12. Evidence of Debt. Loan Account. Each Lender
shall maintain in accordance with its usual practice an account or accounts
evidencing the indebtedness of the Borrowers to such Lender owing to such Lender
from time to time, including the amounts of principal and interest payable and
paid to such Lender from time to time hereunder. 

(B) Notes Upon Request. Any Lender may request that the Loans made by it
each be evidenced by a promissory note in substantially the form of
Exhibit G-1 and/or Exhibit G-2, as
applicable, to evidence such Lender’s Loans. In such event, each Borrower shall
prepare, execute and deliver to such Lender such a promissory note for such
Loans payable to such Lender or its registered assigns. Thereafter, the Loans
evidenced by such promissory note and interest thereon shall at all times (prior
to any assignment pursuant to Section 13.3) be
represented by one or more
promissory notes in such form, payable to the payee named therein or its
registered assigns, except to the extent that any such Lender subsequently
returns any such note for cancellation and requests that such Loans once again
be evidenced as described in clause (A)
above. 

46 

2.13. Telephonic Notices. The Company authorizes the Lenders and the
Administrative Agent to extend Advances to the Company denominated in Dollars,
effect selections of Classes and Types of Advances denominated in Dollars and to
transfer funds denominated in Dollars based on telephonic notices made by any
person or persons the Administrative Agent or any Lender in good faith believes
to be acting on behalf of the Company. The Company (on behalf of itself or the
Subsidiary Borrower) agrees to deliver promptly to the Administrative Agent a
written confirmation, signed by an Authorized Officer, of each telephonic
notice. If the written confirmation differs in any material respect from the
action taken by the Administrative Agent and the Lenders, the records of the
Administrative Agent and the Lenders shall govern absent manifest error. In case
of disagreement concerning such notices, if the Administrative Agent has
recorded telephonic borrowing notices, such recordings will be made available to
the Company upon the Company’s request therefor. For the avoidance of doubt, it
is understood and agreed that all requests for extensions of Advances (including
selections in respect thereof) to be made in an Agreed Currency other than
Dollars or made to the Subsidiary Borrower shall be submitted in writing in
accordance with Section
2.7. 

2.14. Promise to Pay; Interest Payment Dates; Fees;
Interest and Fee Basis;
Taxes. Promise to Pay. Without
limiting the provisions of Section
1.4 hereof, each Borrower
unconditionally promises to pay when due the principal amount of each Loan
incurred by it and all other Obligations incurred by it, and to pay all unpaid
interest accrued thereon, in accordance with the terms of this Agreement and the
other Loan Documents. 

(B) Interest Payment Dates. Interest accrued on each Floating Rate Loan
shall be payable on each Payment Date, commencing with the first such date to
occur after the date hereof, upon any prepayment whether by acceleration or
otherwise, and at maturity (whether by acceleration or otherwise). Interest
accrued on each Eurocurrency Rate Loan shall be payable on the last day of its
applicable Interest Period, on any date on which such Eurocurrency Rate Loan is
prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued
on each Eurocurrency Rate Loan having an Interest Period longer than three
months shall also be payable on the last day of each three-month interval during
such Interest Period. Interest accrued on the principal balance of all other
Obligations shall be payable in arrears (i) on each Payment Date, commencing on
the first such Payment Date following the incurrence of such Obligations, (ii)
upon repayment thereof in full or in part and (iii) if not theretofore paid in
full, at the time such Obligations become due and payable (whether by
acceleration or otherwise). 

(C) Fees.

(i) Except as provided
in Section 2.22(B), the Company shall pay to the Administrative
Agent, for the account of the Revolving Loan Lenders, from and after the date of
this Agreement until the date on which the Revolving Loan Commitments shall be
terminated in whole, a commitment fee accruing at a rate per annum equal to the
then Applicable Commitment Fee Percentage with respect to the Revolving Loan
Commitments on such Revolving Loan Lender’s Revolving Pro Rata Share of the
amount by which (A) the Aggregate Revolving Loan Commitment in effect from time
to time exceeds (B) the Revolving Credit Obligations in effect from time to
time. All such commitment fees payable under this clause (C)(i) shall be payable quarterly in arrears on each
Payment Date occurring after the date of the Restatement Effective Date (with
the first such payment being calculated for the period from the Restatement
Effective Date and ending the next quarter end), and, in addition, on the date
on which the Revolving Loan Commitments shall be terminated in
whole.

47 

(ii) The Borrowers agree
to pay to the Administrative Agent, for its own account, fees payable in the
amounts and at the times separately agreed upon between the Borrowers and the
Administrative Agent. 

(iii) Fees in respect of
Letters of Credit shall be paid as specified in Section 3.8. 

(D) Interest and Fee Basis; Applicable Eurocurrency
Margin, Applicable Floating Rate
Margin, Applicable L/C Fee
Percentage and Applicable Commitment Fee Percentage. 

(i) All Obligations
other than Eurocurrency Rate Advances shall bear interest from and including the
date of the making of such Advance, in the case of Advances, and the date such
Obligation is due and owing in the case of such other Obligations, to (but not
including) the date of repayment thereof at the Floating Rate changing when and
as such Floating Rate changes. Changes in the rate of interest on that portion
of any Advance maintained as a Floating Rate Advance will take effect
simultaneously with each change in the Alternate Base Rate. Each Eurocurrency
Rate Advance shall bear interest from and including the first day of the
Interest Period applicable thereto to (but not including) the last day of such
Interest Period at the Eurocurrency Rate determined as applicable to such
Eurocurrency Rate Advance in accordance with the terms hereof. 

(ii) Interest on all
Eurocurrency Rate Advances, Floating Rate Advances and on all fees shall be
calculated for actual days elapsed on the basis of a 360-day year, except that
(x) interest calculated by reference to the Alternate Base Rate at times when
the Alternate Base Rate is based on the Prime Rate shall be calculated for
actual days elapsed on the basis of a 365- or, when appropriate, 366-day year,
and (ii) Advances denominated in Pounds Sterling shall be calculated for actual
days elapsed on the basis of a year of 365 days. Interest shall be payable for
the day an Obligation is incurred but not for the day of any payment on the
amount paid if payment is received prior to 3:00 p.m. (Local Time) at the place
of payment. If any payment of principal of or interest on a Loan or any payment
of any other Obligations shall become due on a day which is not a Business Day,
such payment shall be made on the next succeeding Business Day and, in the case
of a principal payment, such extension of time shall be included in computing
interest, fees and commissions in connection with such payment. 

(iii) The Applicable
Eurocurrency Margin, Applicable Floating Rate Margin, Applicable L/C Fee
Percentage and Applicable Commitment Fee Percentage shall be determined on the
basis of the then applicable rating from Moody’s and S&P, as described in
the Pricing Schedule hereto. 

48 

(E) Taxes. 

(i) Any and all payments
by the Borrowers hereunder (whether in respect of principal, interest, fees or
otherwise) shall be made free and clear of and without deduction for any and all
present or future taxes, levies, imposts, deductions, fees, assessments, charges
or withholdings or any interest, penalties or liabilities with respect thereto
imposed by any Governmental Authority including those arising after the date
hereof as a result of the adoption of or any change in any law, treaty, rule,
regulation, guideline or determination of a Governmental Authority or any change
in the interpretation or application thereof by a Governmental Authority but
excluding, in the case of each Lender and the Administrative Agent, (A) taxes
imposed on or measured by such Lender’s or the Administrative Agent’s, as the
case may be, net income, franchise taxes and branch profit taxes or similar
taxes imposed by the United States of America or any Governmental Authority of
the jurisdiction under the laws of which such Lender or the Administrative
Agent, as the case may be, is incorporated or organized, maintains its principal
office or maintains a Lending Installation, (B) Other Connection Taxes, and (C)
any taxes imposed under FATCA (all such excluded taxes, levies, imposts,
deductions, fees, assessments, charges, withholdings, and liabilities being
hereinafter referred to as “Excluded
Taxes”; and all such
non-excluded taxes, levies, imposts, deductions, fees, assessments, charges,
withholdings, and liabilities, imposed on or with respect to any payment made by
or on account of any obligation of any Borrower, which the Administrative Agent
or a Lender determines to be applicable to this Agreement, the other Loan
Documents, the Revolving Loan Commitments, the Loans or the Letters of Credit
being hereinafter referred to as “Taxes”). If any
Borrower shall be required by law to deduct or withhold any Taxes from or in
respect of any sum payable hereunder or under the other Loan Documents to any
Lender, any Lending Installation or the Administrative Agent, (a) the sum
payable shall be increased as may be necessary so that after making all required
deductions or withholdings (including deductions or withholdings applicable to
additional sums payable under this Section 2.14(E)) such
Lender, such Lending Installation or the Administrative Agent (as the case may
be) receives an amount equal to the sum it would have received had no such
deductions or withholdings been made, (b) the applicable Borrower shall make
such deductions or withholdings, and (c) the applicable Borrower shall pay the
full amount deducted or withheld to the relevant taxation authority or other
authority in accordance with applicable law. If any Tax, including, without
limitation, any withholding tax, of the United States of America or any other
Governmental Authority shall be or become applicable (x) after the date of this
Agreement, to such payments by the Borrowers made to the Lending Installation or
any other office that a Lender may claim as its Lending Installation, or (y)
after such Lender’s selection and designation of any other Lending Installation,
to such payments made to such other Lending Installation, such Lender shall use
reasonable efforts to make, fund and maintain its Loans through another Lending
Installation of such Lender in another jurisdiction so as to reduce the
Borrowers’ liability hereunder, if the making, funding or maintenance of such
Loans through such other Lending Installation of such Lender does not, in the
reasonable judgment of such Lender, otherwise adversely and materially affect
such Loans or the obligations under the Revolving Loan Commitments of such
Lender. 

49 

(ii) In addition, each
Borrower agrees to pay any present or future stamp or documentary taxes or any
other excise or property taxes, charges, or similar levies which arise from any
payment made hereunder, from the issuance of Letters of Credit hereunder, or
from the execution, delivery or registration of, or otherwise with respect to,
this Agreement, the other Loan Documents, the Revolving Loan Commitments, the
Loans or the Letters of Credit (hereinafter referred to as “Other Taxes”). 

(iii) Each Borrower
hereby agrees to indemnify each Lender and the Administrative Agent for the full
amount of Taxes and Other Taxes (including, without limitation, any Taxes or
Other Taxes imposed by any Governmental Authority on amounts payable under this
Section 2.14(E)) paid by such Lender or the Administrative Agent
(as the case may be) and any liability (including penalties, interest, and
expenses) arising therefrom or with respect thereto, whether or not such Taxes
or Other Taxes were correctly or legally asserted. This indemnification shall be
made within thirty (30) days after the date such Lender or the Administrative
Agent (as the case may be) makes written demand therefor. A certificate as to
any additional amount payable to any Lender or the Administrative Agent under
this Section
2.14(E) submitted to the Company
and the Administrative Agent (if a Lender is so submitting) by such Lender or
the Administrative Agent shall show in reasonable detail the amount payable and
the calculations used to determine such amount and shall, absent manifest error,
be final, conclusive and binding upon all parties hereto. 

(iv) With respect to any
deduction or withholding for or on account of any Taxes or Other Taxes pursuant
to this Section
2.14(E), and to confirm that all
Taxes or Other Taxes required to be paid pursuant to this Section 2.14(E) have been paid to the appropriate Governmental
Authorities, the Company (on behalf of itself or the Subsidiary Borrower) shall
promptly (and in any event not later than thirty (30) days after receipt)
furnish to each Lender and the Administrative Agent the original or a certified
copy of a receipt evidencing payment thereof and such further certificates,
receipts and other documents as may reasonably be required (in the judgment of
such Lender or the Administrative Agent) to establish any tax credit to which
such Lender or the Administrative Agent may be entitled. 

50 

(v) Without prejudice to
the survival of any other agreement of the Borrowers hereunder, the agreements
and obligations of the Borrowers contained in this Section 2.14(E) shall survive the payment in full of all
Obligations hereunder, the termination of the Letters of Credit and the
termination of this Agreement. 

(vi) Each Lender (including any Replacement Lender or Purchaser) that is not
created or organized under the laws of the United States of America or a political
subdivision thereof (each a “Non-U.S. Lender”) shall deliver to the Company and the
Administrative Agent on or before the Restatement Effective Date, or, if later, the date on
which such Lender becomes a Lender pursuant to Section 13.3 hereof (and from time to
time thereafter upon the request of the Company or the Administrative Agent, but
thereafter only for so long
as such Non-U.S. Lender is legally entitled to do so), either (A) two (2) duly
completed originals of either IRS Form W-8BEN, IRS Form W-8BEN-E, or IRS Form
W-8ECI, or an applicable successor form; or (B) in the case of a Non-U.S. Lender
that is claiming the benefits of the exemption for portfolio interest under
Section 881(c) of the Code, (x) a certificate of a duly authorized officer of
such Non-U.S. Lender to the effect that such Non-U.S. Lender is not a “bank”
within the meaning of Section 881(c)(3)(A) of the Code, a “10 percent
shareholder” of the Company within the meaning of Section 881(c)(3)(B) of the
Code or a controlled foreign corporation receiving interest from a related
person within the meaning of Section 881(c)(3)(C) of the Code (such certificate,
an “Exemption Certificate”) and (y) two (2)
duly completed originals of IRS Form W-8BEN, IRS Form W-8BEN-E or an applicable
successor form, in each case, certifying that such Lender is exempt from United
States withholding tax and is entitled to receive payments under this Agreement
without deduction for withholding of any United States federal taxes. Each
Lender (other than a Non-U.S. Lender) shall, on or before the date on which it
becomes a party to this Agreement, deliver to each of the Company and the
Administrative Agent two duly completed originals of United States IRS Form W-9
(or any successor form) establishing that such Lender is a U.S. person (within
the meaning of Section 7701(a)(30) of the Code) and is not subject to backup
withholding. Each Lender further agrees to deliver to the Company and the
Administrative Agent from time to time a true and accurate certificate executed
in duplicate by a duly authorized officer of such Lender in a form satisfactory
to the Company and the Administrative Agent, before or promptly upon the
occurrence of any event requiring a change in the most recent certificate
previously delivered by it to the Company and the Administrative Agent pursuant
to this Section
2.14(E)(vi). Further, each Lender
which delivers a form or certificate pursuant to this Section 2.14(E)(vi) covenants and agrees to deliver to the Company
and the Administrative Agent within fifteen (15) days prior to the expiration of
such form, for so long as this Agreement is still in effect, another such
certificate and/or two (2) accurate and complete newly-signed originals of the
applicable form (or any successor form or forms required under the Code or the
applicable regulations promulgated thereunder). 

Each Lender shall promptly
furnish to the Company and the Administrative Agent such additional documents as
may be reasonably required by the Company or the Administrative Agent to
establish any exemption from or reduction of any Taxes or Other Taxes required
to be deducted or withheld and which may be obtained without undue unreimbursed
expense to such Lender. Notwithstanding any other provision of this
Section 2.14(E), the Borrowers shall not be obligated to gross up
any payments to any Lender pursuant to Section 2.14(E)(i), or to
indemnify any Lender pursuant to Section 2.14(E)(iii), in respect of withholding taxes to the extent
imposed as a result of (x) the failure of such Lender to deliver to the Company
the form or forms and/or an Exemption Certificate, as applicable to such Lender,
pursuant to Section 2.14(E)(vi), (y) such form or
forms and/or Exemption Certificate or the information or certifications made
therein by the Lender being untrue or inaccurate on the date delivered in any
material respect or (z) the Lender designating a successor Lending Installation
at which it maintains its Loans which has the effect of causing such Lender to
become obligated for tax payments in excess of those in effect immediately prior
to such designation; provided, however, that the Borrowers shall be obligated to gross up any payments to any
such Lender pursuant to Section 2.14(E)(i), and to indemnify any such Lender pursuant to
Section 2.14(E)(iii), in respect
of withholding taxes if (i) any such failure to deliver a form or forms or an
Exemption Certificate or the failure of such form or forms or exemption
certificate to establish a complete exemption from withholding tax or inaccuracy
or untruth contained therein resulted from a change in any applicable statute,
treaty, regulation or other applicable law or any interpretation of any of the
foregoing occurring after the date such Lender became a party hereto, which
change rendered such Lender no longer legally entitled to deliver such form or
forms or Exemption Certificate or otherwise ineligible for a complete exemption
from withholding tax, or rendered the information or the certifications made in
such form or forms or Exemption Certificate untrue or inaccurate in any material
respect, (ii) the redesignation of the Lender’s Lending Installation was made at
the request of any Borrower or (iii) the obligation to gross up payments to any
such Lender pursuant to Section 2.14(E)(i), or to indemnify any
such Lender pursuant to Section 2.14(E)(iii), is with respect to
a Purchaser that becomes a Purchaser as a result of an assignment made at the
request of any Borrower. 

51 

(vii) Upon the request,
and at the expense of, the Borrowers, each Lender to which any Borrower is
required to pay any additional amount pursuant to this Section 2.14(E) shall reasonably afford the Company (on behalf of
itself or the Subsidiary Borrower) the opportunity to contest, and shall
reasonably cooperate with the Company in contesting, the imposition of any Tax
giving rise to such payment; provided, that (a) such
Lender shall not be required to afford the Company the opportunity to so contest
unless the Company shall have confirmed in writing to such Lender its obligation
(or the obligation of the Subsidiary Borrower) to pay such amounts pursuant to
this Agreement; and (b) the Borrowers shall reimburse such Lender for its
attorneys’ and accountants’ fees and disbursements incurred in so cooperating
with the Company in contesting the imposition of such Tax; provided, however, that notwithstanding the foregoing, no Lender
shall be required to afford the Company the opportunity to contest, or cooperate
with the Company in contesting, the imposition of any Taxes, if such Lender in
good faith determines that to do so would have an adverse effect on it.

(viii) If a payment made
to a Lender under any Loan Document would be subject to U.S. federal withholding
tax imposed by FATCA if such Lender were to fail to comply with the applicable
reporting requirements of FATCA (including those contained in Section 1471(b) or
1472(b) of the Code, as applicable), such Lender shall deliver to the Company
and the Administrative Agent at the time or times prescribed by law and at such
time or times reasonably requested by the Company or the Administrative Agent
such documentation prescribed by applicable law (including as prescribed by
Section 1471(b)(3)(C)(i) of the Code) and such additional documentation
reasonably requested by the Company or the Administrative Agent as may be
necessary for the Company and the Administrative Agent to comply with their
obligations under FATCA and to determine that such Lender has complied with such
Lender’s obligations under FATCA or to determine the amount to deduct and
withhold from such payment. Solely for purposes of this paragraph (viii),
“FATCA” shall include any amendments made to FATCA after the date of this
Agreement. 

52 

(ix) Each Lender shall
severally indemnify the Administrative Agent, within thirty (30) days after
demand therefor, for (i) any Taxes or Other Taxes attributable to such Lender
(but only to the extent that the Borrowers have not already indemnified the
Administrative Agent for such Taxes or Other Taxes and without limiting the
obligation of the Borrowers to do so), (ii) any taxes, levies, imposts,
deductions, fees, assessments, charges, or withholdings attributable to such
Lender’s failure to comply with the provisions of Section 13.2(C) relating to the maintenance of a Participant
Register and (iii) any taxes, levies, imposts, deductions, fees, assessments,
charges, or withholdings that are excluded pursuant to Section 2.14(E) and that are attributable to such Lender, in each
case, that are payable or paid by the Administrative Agent in connection with
any Loan Document, and any reasonable expenses arising therefrom or with respect
thereto, whether or not such amounts were correctly or legally imposed or
asserted by the relevant Governmental Authority. A certificate as to the amount
of such payment or liability delivered to any Lender by the Administrative Agent
shall be conclusive absent manifest error. Each Lender hereby authorizes the
Administrative Agent to set off and apply any and all amounts at any time owing
to such Lender under any Loan Document or otherwise payable by the
Administrative Agent to the Lender from any other source against any amount due
to the Administrative Agent under this paragraph (ix). 

(x) If any party
determines, in its sole discretion exercised in good faith, that it has received
a refund of any Taxes or Other Taxes as to which it has been indemnified
pursuant to this Section
2.14(E) (including by the payment
of additional amounts), it shall pay to the indemnifying party an amount equal
to such refund (but only to the extent of indemnity payments made under this
Section with respect to the taxes giving rise to such refund), net of all
out-of-pocket expenses (including taxes) of such indemnified party and without
interest (other than any interest paid by the relevant Governmental Authority
with respect to such refund). Such indemnifying party, upon the request of such
indemnified party, shall repay to such indemnified party the amount paid over
pursuant to this paragraph (x) (plus any penalties, interest or other charges
imposed by the relevant Governmental Authority) in the event that such
indemnified party is required to repay such refund to such Governmental
Authority. Notwithstanding anything to the contrary in this paragraph (x), in no
event will the indemnified party be required to pay any amount to an
indemnifying party pursuant to this paragraph (x) the payment of which would
place the indemnified party in a less favorable net after-tax position than the
indemnified party would have been in if the indemnification payments or
additional amounts giving rise to such refund had never been paid. This
paragraph shall not be construed to require any indemnified party to make
available its tax returns (or any other information relating to its taxes that
it deems confidential) to the indemnifying party or any other Person.

(xi) All consideration
expressed to be payable under a Loan Document by any Borrower to a Lender shall
be deemed to be exclusive of any VAT or other sales tax. If VAT or other sales
tax is chargeable on any supply made by a Lender to any Borrower in connection
with a Loan Document, the applicable Borrower shall pay to such Lender (in
addition to and at the same time as paying the consideration) an amount equal to
the amount of the VAT or sales tax. Where a Loan Document requires any Borrower
to reimburse a Lender for any costs or expenses, the applicable Borrower shall
also at the same time pay and indemnify such
Lender against all VAT or other sales tax incurred by such Lender in respect of
the costs or expenses to the extent that such Lender reasonably determines that
neither it nor any other member of any group of which it is a member for VAT or
sales tax purposes is entitled to credit or repayment from the relevant tax
authority in respect of the VAT or sales tax. 

53 

(xii) For purposes of
determining withholding taxes imposed under FATCA, from and after the
Restatement Effective Date, the Borrowers and the Administrative Agent shall
treat (and the Lenders hereby authorize the Administrative Agent to treat) the
Loans as not qualifying as a “grandfathered obligation” within the meaning of
Treasury Regulation Section 1.1471-2(b)(2)(i). 

2.15. Notification of Advances, Interest Rates,
Prepayments and Aggregate Revolving Loan Commitment
Reductions. Promptly after
receipt thereof, the Administrative Agent will notify each Revolving Loan Lender
of the applicable Class of the contents of each notice to reduce the Revolving
Loan Commitments of such Class, each Borrowing/Election Notice for such Class
and each repayment notice for such Class received by it hereunder. The
Administrative Agent will notify each Lender of the applicable Class of the
interest rate applicable to each Floating Rate Loan and Eurocurrency Rate Loan
and the Agreed Currency applicable to each Eurocurrency Rate Loan promptly upon
determination of such interest rate and Agreed Currency and will give each
Lender of the applicable Class prompt notice of each change in the Alternate
Base Rate. 

2.16. Lending Installations. Each Lender may book its Loans or Letters of
Credit at any Lending Installation selected by such Lender and may change its
Lending Installation from time to time. All terms of this Agreement shall apply
to any such Lending Installation. Each Lender may, by written or facsimile
notice to the Administrative Agent and the Company, designate a Lending
Installation through which Loans will be made by it and for whose account Loan
payments and/or payments of L/C Obligations are to be made. 

2.17. Non-Receipt of Funds by the Administrative
Agent. Unless a Borrower or a
Lender, as the case may be, notifies the Administrative Agent prior to the date
on which it is scheduled to make payment to the Administrative Agent of (a) in
the case of a Lender, the proceeds of a Loan or (b) in the case of a Borrower, a
payment of principal, interest or fees to the Administrative Agent for the
account of the Lenders, that it does not intend to make such payment, the
Administrative Agent may assume that such payment has been made. The
Administrative Agent may, but shall not be obligated to, make the amount of such
payment available to the intended recipient in reliance upon such assumption. If
such Lender or Borrower, as the case may be, has not in fact made such payment
to the Administrative Agent, the recipient of such payment shall, on demand by
the Administrative Agent, repay to the Administrative Agent the amount so made
available together with interest thereon in respect of each day during the
period commencing on the date such amount was so made available by the
Administrative Agent until the date the Administrative Agent recovers such
amount at a rate per annum equal to (i) in the case of payment by a Lender, the
greater of the Federal Funds Effective Rate and a rate determined by the
Administrative Agent in accordance with banking industry rules on interbank
compensation or (ii) in the case of payment by a Borrower, the interest rate
applicable to the relevant Loan. 

54

2.18. Termination of Agreement. This Agreement shall be effective until (A) all
of the Obligations (other than contingent indemnity obligations) shall have been
fully paid and satisfied in cash, (B) all of the Revolving Loan Commitments
shall have been terminated in accordance with the terms of this Agreement and
(C) all of the Letters of Credit shall have expired, been canceled, terminated
or cash collateralized or otherwise supported in an amount and in a manner
satisfactory to the Administrative Agent and the Issuing Banks, all of the
rights and remedies under this Agreement and the other Loan Documents shall
survive. 

2.19. Replacement of Certain Lenders. In the event a Lender (an “Affected Lender”) shall have: (a) become a Defaulting Lender, (b)
requested compensation from the Borrowers under Sections 2.14(E), 4.1 or 4.2
to recover Taxes, Other Taxes or other additional costs incurred by such Lender
which are not being incurred generally by the other Lenders, (c) delivered a
notice pursuant to Section
4.3 claiming that such Lender is
unable to extend Eurocurrency Rate Loans to the Borrowers for reasons not
generally applicable to the other Lenders, (d) has invoked Section 10.2, or (e) failed or refused to consent by the
relevant time to any amendment, waiver, supplement, restatement, discharge or
termination of any provision of this Agreement when requested by the Company and
the Administrative Agent and with respect to which (A) the consent of “each
Lender” or “each Lender directly affected thereby” is required under
Section 9.3 and (B) the Required Lenders have so consented
then, in any such case, the Company or the Administrative Agent may make written
demand on such Affected Lender (with a copy to the Administrative Agent in the
case of a demand by the Company and a copy to the Company in the case of a
demand by the Administrative Agent) for the Affected Lender to assign, and such
Affected Lender shall use commercially reasonable efforts to assign, pursuant to
one or more duly executed Assignment Agreements within five (5) Business Days
after the date of such demand, at the cost and expense of the Company, to one or
more financial institutions that comply with the provisions of Section 13.3(A) which the Company or the Administrative Agent, as
the case may be, shall have engaged for such purpose (a “Replacement Lender”), all or any portion of such Affected Lender’s
rights and obligations under this Agreement and the other Loan Documents
(including, without limitation, all Loans owing to it and, in the case of any
Revolving Loan Lender, its Revolving Loan Commitment, all of its participation
interests in existing Letters of Credit (if any), and its obligation to
participate in additional Letters of Credit (if any) in accordance with
Section 13.3. The Administrative Agent agrees, upon the
occurrence of such events with respect to an Affected Lender and upon the
written request of the Company, to use its reasonable efforts to obtain the
commitments from one or more financial institutions to act as a Replacement
Lender. Further, with respect to such assignment, the Affected Lender shall have
concurrently received, in cash, all amounts due and owing to the Affected Lender
hereunder or under any other Loan Document, including, without limitation, the
aggregate outstanding principal amount of the Loans owed to such Lender,
together with accrued interest thereon through the date of such assignment,
amounts payable under Sections
2.14(E), 4.1, and 4.2 with respect to such Affected Lender and
compensation payable under Section
2.14(C) in the event of any
replacement of any Affected Lender under clause (b) (c), (d) or
(e) of this Section 2.19; provided that upon such
Affected Lender’s replacement, such Affected Lender shall cease to be a party
hereto but shall continue to be entitled to the benefits of Sections 2.14(E), 2.20, 2.21(B), 3.10, 4.1, 4.2, 4.4 and 10.7 (and each other
provision of this Agreement or the other Loan Documents whereby the Company or
any of its Subsidiaries agrees to reimburse or indemnify the Lenders), as well
as to any fees accrued for its account hereunder and not yet paid, and shall
continue to be obligated under Section 11.8 for such
amounts, obligations and liabilities as are
due and payable up to and including (but not after) the date such Affected
Lender is replaced pursuant hereto. 

55 

2.20. Judgment Currency. If, for the purposes of obtaining judgment in
any court, it is necessary to convert a sum due from a Borrower, a Lender or an
Issuing Bank hereunder in the currency expressed to be payable herein (the
“specified
currency”) into another
currency, the parties hereto agree, to the fullest extent that they may
effectively do so, that the rate of exchange used shall be that at which in
accordance with normal banking procedures the Administrative Agent could
purchase the specified currency with such other currency at the Administrative
Agent’s main office in New York, New York on the Business Day preceding that on
which the final, non-appealable judgment is given. The obligations in respect of
any sum due hereunder shall, notwithstanding any judgment in a currency other
than the specified currency, be discharged only to the extent that on the
Business Day following receipt of any sum adjudged to be so due in such other
currency by the party to whom such sum is owed, such party may in accordance
with normal, reasonable banking procedures purchase the specified currency with
such other currency. If the amount of the specified currency so purchased is
less than the sum originally due in the specified currency, each party hereto
obligated to pay any such sum shall, to the fullest extent that it may
effectively do so, as a separate obligation and notwithstanding any such
judgment, indemnify the party to whom such sum is owed against such loss, and if
the amount of the specified currency so purchased exceeds the sum originally due
in the specified currency (and in the case of any Lender, any amounts shared
with other Lenders as a result of allocations of such excess as a
disproportionate payment to such Lender under Section 12.2), the party to whom such sum was owed shall remit
such excess to the paying party. 

2.21. Market
Disruption; Denomination of Amounts in  Dollars; Dollar Equivalent of Reimbursement  Obligations. Market
Disruption. Notwithstanding the satisfaction of all  conditions referred to in
this Article II with respect to
any Advance in any Agreed Currency other than Dollars, if there shall occur on  or prior to the date of such Advance any
change in national or international  financial, political or economic conditions or currency exchange rates or  exchange
controls which would in the reasonable opinion of the Company, the  Administrative Agent or the Required Lenders make it
impracticable for the  Eurocurrency Rate Loans comprising such Advance to be denominated in such Agreed  Currency, then the
Administrative Agent shall forthwith give notice thereof to  the Company and the Lenders, and such Eurocurrency Rate Loans
shall not be  denominated in such currency but shall be made on such Borrowing Date in  Dollars, in an aggregate principal
amount equal to the Dollar Amount of the  aggregate principal amount specified in the related Borrowing/Election Notice,  as
Floating Rate Loans, unless the Company notifies the Administrative Agent at  least one (1) Business Day before such date
that it elects not to borrow on such  date. 

(B) Calculation of Amounts. Except as set forth below, all amounts
referenced in this Article
II shall be calculated using the
Dollar Amount determined based upon the Equivalent Amount in effect as of the
date of any determination thereof; provided, however, that to the extent the Borrowers shall be obligated hereunder to pay in
Dollars any Advance denominated in a currency other than Dollars, such amount
shall be paid in Dollars using the Dollar Amount of the Advance (calculated
based upon the Equivalent Amount in effect on the date of payment thereof).
Notwithstanding anything herein to the contrary, in connection with Obligations
payable by the Borrowers, the full risk of currency fluctuations shall be borne
by the Borrowers and each Borrower agrees to
indemnify and hold harmless the Administrative Agent, the Lenders and the
Issuing Banks from and against any loss resulting from any borrowing denominated
in any Agreed Currency other than Dollars that is not repaid to the Lenders on
the date of such borrowing. 

56 

2.22. Certain Provisions Applicable to Defaulting
Lenders.

(A) Notwithstanding any
provision of this Agreement to the contrary, if any Lender becomes a Defaulting
Lender, then the following provisions shall apply for so long as such Lender is
a Defaulting Lender: 

(i) if any L/C Obligations
are outstanding or exist at the time a Revolving Loan Lender is a Defaulting
Lender then: 

(a) all or any part of the
Revolving Pro Rata Share of the L/C Obligations of such Defaulting Lender shall
be reallocated among Revolving Loan Lenders that are not Defaulting Lenders in
accordance with their respective Revolving Pro Rata Shares but only to the
extent (A) the sum of all such non-Defaulting Lenders’ Revolving Credit
Obligations plus such Defaulting Lender’s L/C Obligations does not exceed the
total of all Revolving Loan Commitments of the Revolving Loan Lenders that are
not Defaulting Lenders, (B) each non-Defaulting Lender’s share of the Revolving
Credit Obligations does not exceed such non-Defaulting Lender’s Revolving Loan
Commitment and (C) no Default has occurred and is continuing;

(b) if the reallocation
described in clause
(a) above cannot, or can only
partially, be effected, the Company shall within one (1) Business Day following
notice by the Administrative Agent, cash collateralize such Defaulting Lender’s
Revolving Pro Rata Share of L/C Obligations (after giving effect to any partial
reallocation pursuant to the immediately preceding clause (a)) in accordance with the procedures set forth in Section 3.11 for so long as such L/C Obligations are
outstanding; and 

(ii) so long as any
Revolving Loan Lender is a Defaulting Lender, no Issuing Bank shall be required
to issue, amend or increase any Letter of Credit unless it is satisfied that the
related exposure and such Defaulting Lender’s then outstanding Revolving Pro
Rata Share of the L/C Obligations will be 100% covered by the Revolving Loan
Commitments of the non-Defaulting Revolving Loan Lenders and/or cash collateral
will be provided by the Company in accordance with this Section 2.22(A), and participating interests in any newly issued
or increased Letter of Credit shall be allocated among non-Defaulting Revolving
Loan Lenders in a manner consistent with Section 2.22(A)(i) (and
such Defaulting Lender shall not participate therein). 

(B) In addition to the
foregoing, for so long as any Lender is a Defaulting Lender: 

(i) commitment fees shall
cease to accrue on the unfunded portion of the Revolving Loan Commitment of such
Defaulting Lender pursuant to Section 2.14(C);

57 

(ii) if such Defaulting
Lender is a Revolving Loan Lender and if the Company cash collateralizes such
Defaulting Lender’s Revolving Pro Rata Share of the L/C Obligations pursuant to
Section 2.22(A), the Company shall not be required to pay the L/C
Fee to such Defaulting Lender pursuant to Section 3.8(A) during the
period such Defaulting Lender’s Revolving Pro Rata Share of the L/C Obligations
are cash collateralized;

(iii) if such Defaulting
Lender is a Revolving Loan Lender and if the L/C Obligations of the Defaulting
Lenders are reallocated pursuant to clause (A)(i)(a) above,
then the fees payable to the Revolving Loan Lenders pursuant to Section 3.8(A) and Section 2.14(C)(i) shall be adjusted in
accordance with the respective Revolving Pro Rata Shares of the Revolving Loan
Lenders that are not Defaulting Lenders;

(iv) if such Defaulting
Lender is a Revolving Loan Lender and if such Defaulting Lender’s Revolving Pro
Rata Share of the L/C Obligations is neither reallocated nor cash collateralized
pursuant to Section
2.22(A), then, without prejudice
to any rights or remedies of any Issuing Bank or any Lender hereunder, all L/C
Fees payable under Section
3.8(A) with respect to such
Defaulting Lender’s Revolving Pro Rata Share of the L/C Obligations shall be
payable to the applicable Issuing Bank until such L/C Obligations are cash
collateralized; and 

(v) the Revolving
Commitment and Revolving Credit Obligations of such Defaulting Lender shall not
be included in determining whether the Required Lenders or Required Revolving
Lenders have taken or may take any action hereunder (including any consent to
any amendment, waiver or other modification pursuant to Section 9.3); provided, that, except as otherwise provided in
Section 9.3(C), this clause (B)(v) shall not
apply to the vote of a Defaulting Lender in the case of an amendment, waiver or
other modification requiring the consent of such Lender or each Lender directly
affected thereby. 

If (i) a Bankruptcy Event
or Bail-In Action with respect to a Parent of any Revolving Loan Lender shall
occur following the date hereof and for so long as such event shall continue or
(ii) any Issuing Bank has a good faith belief that any Revolving Loan Lender has
defaulted in fulfilling its obligations under one or more other agreements in
which such Revolving Loan Lender commits to extend credit, such Issuing Bank
shall not be required to issue, amend or increase any Letter of Credit, unless
such Issuing Bank shall have entered into arrangements with the Company or such
Revolving Loan Lender, satisfactory to such Issuing Bank to defease any risk to
it in respect of such Revolving Loan Lender hereunder. 

In the event that the
Administrative Agent, the Company, and each Issuing Bank agrees that a
Defaulting Lender has adequately remedied all matters that caused such Lender to
be a Defaulting Lender, then (i) to the extent such Lender is a Revolving Loan
Lender, the respective Revolving Pro Rata Shares of the L/C Obligations of the
Revolving Loan Lenders shall be readjusted to reflect the inclusion of such
Lender’s Revolving Loan Commitment and (ii) on such date such Lender shall
purchase at par such of the Loans of the other Lenders of the applicable Class
as the Administrative Agent shall determine may be necessary in order for such
Lender to hold such Loans in accordance with its Revolving Pro Rata Share, as
applicable. 

58 

2.23. Incremental Facilities. 

(A) At any time, but not
more than one (1) time in the case of raising commitments for incremental term
loans and not more than five (5) times during the term of this Agreement in the
case of an increase to the Aggregate Revolving Loan Commitment (unless, in
either case, the Administrative Agent agrees to an additional number in its sole
discretion), and subject to the terms and conditions of this Section 2.23, the Company may request (i) to raise commitments
for incremental term loans in order to accommodate an incremental single-draw
tranche of Term Loans (the “Incremental Term Loans”, and the term loan commitments relating thereto, the “Incremental Term Loan Commitments”) and/or (ii) an increase in the Aggregate
Revolving Loan Commitment in order to accommodate additional Revolving Loans
(the “Incremental Revolving
Loans”, and the Revolving
Loan Commitments relating thereto, the “Incremental Revolving Loan Commitments”) (any such increase being referred to herein as a “Commitment Increase”)
without the consent of any Lender not providing such Incremental Term Loan
Commitments or Incremental Revolving Loan Commitments, as the case may be;
provided that, the aggregate amount of all Incremental
Term Loan Commitments and Incremental Revolving Loan Commitments effected during
the term of this Agreement shall not exceed $275,000,000.

(B) Each Commitment
Increase shall be in a minimum amount of $10,000,000 and integral multiples of
$1,000,000. For the avoidance of doubt, an Incremental Revolving Loan Commitment
shall become a “Revolving Loan Commitment” (or in the case of an Incremental
Revolving Loan Commitment to be provided by an existing Revolving Loan Lender,
an increase in such Lender’s Revolving Loan Commitment) under this Agreement, in
any such case, pursuant to a “Commitment and Acceptance” substantially in the
form of Exhibit I (a “Commitment and
Acceptance”). Any request for
a Commitment Increase shall be made in a written notice (an “Increase Notice”) given to the Administrative Agent and the
Lenders by the Company not less than ten (10) Business Days prior to the
proposed effective date therefor, which Increase Notice shall specify the type
and amount of the proposed Commitment Increase and the proposed effective date
thereof. Commitment Increases may be provided by any existing Lender or by any
other bank or other financial institution (any such other bank or other
financial institution, a “Proposed New Lender”;
provided that no Ineligible Institution may be a Proposed
New Lender); provided that any Proposed
New Lender shall be reasonably acceptable to the Administrative
Agent.

(C) The terms and
provisions of the Incremental Revolving Loans and Incremental Revolving Loan
Commitments shall be identical to (and in any event no more favorable than) the
terms and provisions of the Revolving Loans and the Revolving Loan Commitments
at such time. Any tranche of Incremental Term Loans (A) shall be available to
the Company in Dollars, (B) shall rank pari passu in right of payment with the
Revolving Loans, (C) shall not mature earlier than the Revolving Loan
Termination Date or any later date to which the Revolving Loan Termination Date
has been extended at such time, and (D) shall be treated substantially the same
as (and in any event no more favorably than) the Revolving Loans;
provided that (i) the terms and conditions applicable to
any tranche of Incremental Term Loans maturing after the Revolving Loan
Termination Date may provide for material additional or different financial or
other covenants requirements applicable only during periods after the Revolving
Loan Termination Date and (ii) the Incremental Term Loans may be priced
differently than the Revolving Loans and may
have amortization or prepayments prior to the Revolving Loan Termination Date.
Without limiting the foregoing, any Incremental Revolving Loans shall bear
interest (and, to the extent applicable, Commitment Fees) at rates that are no
more favorable than the rate then applicable to the Revolving Loans; it being
understood and agreed that this Agreement shall be amended as contemplated by
Section
2.23(D)(iv) below to provide the
then existing Revolving Loan Lenders the benefit of any more favorable rates
(and, to the extent applicable, Commitment Fees) payable to the Lenders of such
Incremental Revolving Loans.

59 

(D) Without limiting the
applicability of any conditions to Advances set forth in this Agreement, the
effectiveness of any Commitment Increase shall be subject to the following
conditions precedent:

(i) both as of the proposed
effective date of the applicable Increase Notice and as of the date of such
Commitment Increase, (i) all representations and warranties under
Article VI and in the other Loan Documents shall be true and
correct in all material respects as though made on such date (unless such
representation and warranty is made as of a specific date, in which case, such
representation and warranty shall be true and correct in all material respects
as of such date), (ii) no event shall have occurred and then be continuing which
constitutes a Default or Unmatured Default and (iii) the Company shall have
furnished a certificate of a Designated Financial Officer demonstrating
pro forma compliance with the
Priority Debt Ratio under Section
7.4(A) as of the last day of the
Company’s most recently completed fiscal quarter for which financial statements
are publicly available, which pro forma compliance shall be determined based on the ratio of (i) Priority Debt
as of the date of such Commitment Increase (after giving effect thereto and the
making of Term Loans and Revolving Loans (if any) in connection therewith) to
(ii) EBITDA for the four consecutive fiscal quarters then ended on the last day
of such fiscal quarter; 

(ii) the Borrowers, the
Administrative Agent and each Proposed New Lender or Lender that shall have
agreed to provide an “Incremental Term Loan Commitment” or “Incremental
Revolving Loan Commitment” in support of such Commitment Increase shall have
executed and delivered a Commitment and Acceptance; 

(iii) counsel for the
Borrowers and the Subsidiary Guarantors shall have provided to the
Administrative Agent supplemental opinions in form and substance reasonably
satisfactory to the Administrative Agent; 

(iv) the Borrowers, the
Subsidiary Guarantors and the Proposed New Lenders shall otherwise have executed
and delivered such other instruments and documents as the Administrative Agent
shall have reasonably requested in connection with such increase (including an
amendment to this Agreement and, as appropriate, the other Loan Documents,
executed by the Company, each Lender agreeing to provide such Commitment
Increase, if any, each Proposed New Lender, if any, and the Administrative
Agent, which amendment or amendments may, without the consent of any other
Lenders, effect such amendments to this Agreement and the other Loan Documents
as may be necessary or appropriate, in the reasonable opinion of the
Administrative Agent, to effect such increase in accordance with this
Section 2.23 or to provide for the integration of the Incremental Term Loans or Incremental Revolving
Loans, as the case may be, including, without limitation, to specify terms
applicable to the Incremental Term Loans not provided for in this Agreement or
to make conforming changes to the terms of the Revolving Loans as required by
Section 2.23(C) above), and each Loan Party shall have reaffirmed
the Obligations and its respective obligations, and the Liens granted, under the
Loan Documents;

60 

(v) in the case of an
Incremental Revolving Loan Commitment, the Administrative Agent shall have
administered the assignment and reallocation of the Revolving Loans, L/C
Interests and any obligation to participate in Letters of Credit on the
effective date of such increase ratably among the Revolving Loan Lenders
(including new Lenders) after giving effect to such increase; provided, that the Borrowers hereby agree to compensate the Revolving Loan
Lenders for all losses, expenses and liabilities incurred by any Revolving Loan
Lender in connection with the sale or assignment of any Eurocurrency Rate Loan
resulting from such reallocation on the terms and in the manner set forth in
Section 4.4; and 

(vi) any Proposed New
Lender becoming a party hereto shall, in the case of any Proposed New Lender
that is organized under the laws of a jurisdiction outside of the United States
of America, provide to the Administrative Agent, its name, address, tax
identification number and/or such other information as shall be necessary for
the Administrative Agent to comply with “know your customer” and anti-money
laundering rules and regulations, including without limitation, the Patriot
Act.

Upon satisfaction of the
conditions precedent to any Commitment Increase, the Administrative Agent shall
promptly advise the Company and each Lender of the effective date thereof. Upon
any such effective date that is supported by a Proposed New Lender, such
Proposed New Lender shall become a party to this Agreement as a Lender and shall
have the rights and obligations of a Lender hereunder. Nothing contained herein
shall constitute, or otherwise be deemed to be, a commitment on the part of any
Lender to participate in any Commitment Increase or make additional Loans in
connection therewith. 

2.24. Future Extensions of Maturity. Notwithstanding anything herein to the contrary
(including, without limitation Section 9.3), in the event
of a future amendment to extend the maturity date of any Revolving Loan
Commitments or Term Loans, the Company shall be permitted to reduce the
Revolving Loan Commitments and repay the Revolving Loans and Term Loans of those
Lenders who consent to such an extension in a greater proportion than those
Lenders who do not so consent, and the Company and the Administrative Agent
shall be authorized to amend this document in a manner that the Administrative
Agent believes is necessary to reflect, or provide for the integration of, such
an extension (and, if applicable, reduction) and shall submit such an amended
document to those extending Lenders for their approvals and signatures.

2.25. MIRE Events. Notwithstanding anything to the contrary set forth herein, no MIRE
Event may be closed until the Administrative Agent shall have received the
following documents in respect of Mortgaged Property: (a) a completed flood
hazard determination from a third party vendor; and (b) if required by
applicable Flood Laws, (i) evidence of required flood insurance with respect to which flood insurance
has been made available under applicable Flood Laws and (ii) other flood
documentation or information reasonably requested by any Lender to enable such
Lender to comply with such Flood Laws. 

61 

ARTICLE III: THE LETTER
OF CREDIT FACILITY 

3.1. Obligation to Issue Letters of
Credit. Subject to the terms and
conditions of this Agreement and in reliance upon the representations,
warranties and covenants of the Borrowers herein set forth, each Issuing Bank
hereby agrees to issue for the account of either Borrower as the applicant
thereof, for the support of its or its Subsidiaries’ obligations, through the
applicable Issuing Bank’s branches as it and the Borrowers may jointly agree,
one or more Letters of Credit denominated in any Agreed Currency in accordance
with this Article
III from time to time during the
period commencing on the Restatement Effective Date and ending on the date five
(5) Business Days immediately preceding the Revolving Loan Termination Date (but
subject to Section
3.3 below). The Company
unconditionally and irrevocably agrees that, in connection with any Letter of
Credit issued for the support of any Subsidiary’s (including the Subsidiary
Borrower’s) obligations as provided in the first sentence of this paragraph, the
Company will be fully responsible for the Reimbursement Obligations in
accordance with the terms hereof, the payment of interest thereon and the
payment of fees due under Section
3.8 to the same extent as if it
were the sole account party in respect of such Letter of Credit (the Company
hereby irrevocably waiving any defenses that might otherwise be available to it
as a guarantor or surety of the obligations of such a Subsidiary that is an
account party in respect of any such Letter of Credit). Notwithstanding anything
herein to the contrary, no Issuing Bank shall have any obligation hereunder to
issue, and shall not issue, any Letter of Credit the proceeds of which would be
made available to any Person (i) to fund any activity or business of or with any
Sanctioned Person, or in any country or territory that, at the time of such
funding, is the subject of any Sanctions or (ii) in any manner that would result
in a violation of any Sanctions by any party to this Agreement.

3.2. [Reserved].

3.3. Types and Amounts. No Issuing Bank shall have any obligation to,
and the Issuing Bank shall not: 

(A) issue any Letter of
Credit if on the date of issuance (or amendment), before or after giving effect
to the Letter of Credit requested hereunder, (i) except as permitted by
Section 2.4(B), (v) the Dollar
Amount of the Revolving Credit Obligations at such time would exceed the
Aggregate Revolving Loan Commitment at such time, (w) the Dollar Amount of any
Lender’s Revolving Credit Obligations would exceed such Lender’s Revolving Loan
Commitment, (x) the Dollar Amount of the Revolving Credit Obligations
denominated in Agreed Currencies other than Dollars at such time would exceed
the Foreign Currency Sublimit, (y) the LC Obligations with respect to all
Letters of Credit issued by such Issuing Bank would exceed its Issuing Bank
Commitment or (z) the aggregate L/C Obligations would exceed $100,000,000 or
(ii) the Facility Obligations Amount would exceed the Collateral Value Amount;
or 

62 

(B) issue any Letter of
Credit which has an expiration date later than the date which is the earlier of
(x) one (1) year after the date of issuance thereof or (y) five (5) Business
Days immediately preceding the Revolving Loan Termination Date; provided, that any Letter of Credit with a one-year term may provide for the
renewal thereof for additional one-year periods (which in no event shall extend
beyond the date referred to in clause (y) above).

The Borrower may, at any
time and from time to time, modify the Issuing Bank Commitment of any Issuing
Bank as provided in the definition of Issuing Bank Commitment; provided that the Borrower shall not reduce or increase the Letter of Credit
Commitment of any Issuing Bank if, after giving effect of such reduction, the
conditions set forth in this Section 3.3 shall not be
satisfied. 

3.4. Conditions. 

(A) In addition to being
subject to the satisfaction of the applicable conditions contained in
Article V, the obligation of an Issuing Bank to issue any
Letter of Credit is subject to the satisfaction in full of the following
conditions: 

(i) the Company (on behalf
of itself or the Subsidiary Borrower) shall have delivered to the applicable
Issuing Bank (with a copy to the Administrative Agent) at such times and in such
manner as such Issuing Bank may reasonably prescribe (in any event, not less
than three (3) Business Days prior to the proposed date of issuance unless a
shorter time is agreed to by such Issuing Bank), a request for issuance of such
Letter of Credit in substantially the form of Exhibit C hereto (a “Request For
Letter of Credit”), and the
Company and, if applicable, the Subsidiary Borrower shall have delivered duly
executed applications for such Letter of Credit and such other documents,
instructions and agreements as may be required pursuant to the terms thereof
(all such applications, documents, instructions, and agreements being referred
to herein as the “L/C Documents”), and the
proposed Letter of Credit shall be reasonably satisfactory to the applicable
Issuing Bank as to form and content; and 

(ii) as of the date of
issuance no order, judgment or decree of any court, arbitrator or Governmental
Authority shall purport by its terms to enjoin or restrain the applicable
Issuing Bank from issuing such Letter of Credit and no law, rule or regulation
applicable to such Issuing Bank and no request or directive (whether or not
having the force of law) from a Governmental Authority with jurisdiction over
such Issuing Bank shall prohibit or request that such Issuing Bank refrain from
the issuance of Letters of Credit generally or the issuance of that Letter of
Credit. 

(B) In the event of any
conflict between the terms of this Agreement and the terms of any application
for a Letter of Credit, the terms of this Agreement shall control. 

3.5. Procedure for Issuance of Letters of
Credit. Subject to the terms and
conditions of this Article
III and provided that the
applicable conditions set forth in Article V hereof have been
satisfied, the applicable Issuing Bank shall, on the requested date, issue a
Letter of Credit on behalf of the applicable Borrower in accordance with such
Issuing Bank’s usual and customary business practices and, in this connection,
such Issuing Bank may assume that the applicable conditions set forth in Article V hereof have been
satisfied unless it shall have received notice to the contrary from the
Administrative Agent or a Revolving Loan Lender or has knowledge that the
applicable conditions have not been met. 

63 

(B) The applicable Issuing
Bank shall give the Administrative Agent written or facsimile notice of the
issuance of a Letter of Credit; provided, however, that the failure to provide such notice shall not result in any
liability on the part of such Issuing Bank. 

(C) No Issuing Bank shall
extend or amend any Letter of Credit unless the requirements of Sections 3.3, 3.4 and 3.5
are met as though a new Letter of Credit was being requested and issued.

3.6. Letter of Credit Participation. Immediately upon the issuance of each other
Letter of Credit hereunder, each Revolving Loan Lender shall be deemed to have
automatically, irrevocably and unconditionally purchased and received from the
applicable Issuing Bank an undivided interest and participation in and to such
Letter of Credit, the obligations of the applicable Borrower in respect thereof
and the liability of such Issuing Bank thereunder (collectively, an
“L/C
Interest”) in an amount equal
to the amount available for drawing under such Letter of Credit multiplied by
such Revolving Loan Lender’s Revolving Pro Rata Share. The applicable Issuing
Bank will notify each Revolving Loan Lender promptly upon presentation to it of
an L/C Draft or upon any other draw under a Letter of Credit. On or before the
Business Day on which the applicable Issuing Bank makes payment of each such L/C
Draft or, in the case of any other draw on a Letter of Credit, on demand by the
Administrative Agent or such Issuing Bank, each Revolving Loan Lender shall make
payment to the Administrative Agent, for the account of the applicable Issuing
Bank, in immediately available funds in the applicable Agreed Currency in an
amount equal to such Revolving Loan Lender’s Revolving Pro Rata Share of the
amount of such payment or draw. The obligation of each Revolving Loan Lender to
reimburse the applicable Issuing Bank under this Section 3.6 shall be unconditional, continuing, irrevocable and absolute. In the
event that any Revolving Loan Lender fails to make payment to the Administrative
Agent of any amount due under this Section 3.6, the
Administrative Agent shall be entitled to receive, retain and apply against such
obligation the principal and interest otherwise payable to such Revolving Loan
Lender hereunder until the Administrative Agent receives such payment from such
Revolving Loan Lender or such obligation is otherwise fully satisfied;
provided, however, that nothing
contained in this sentence shall relieve such Revolving Loan Lender of its
obligation to reimburse any Issuing Bank for such amounts in accordance with
this Section 3.6.

64 

3.7. Reimbursement Obligation. Each Borrower agrees unconditionally,
irrevocably and absolutely to pay immediately to the applicable Issuing Bank or,
if applicable, the Administrative Agent, for the account of the Revolving Loan
Lenders, the amount of each advance drawn under or pursuant to a Letter of
Credit issued on behalf of such Borrower or an L/C Draft related thereto (such
obligation of such Borrower to reimburse such Issuing Bank or the Administrative
Agent for an advance made under a Letter of Credit or L/C Draft being
hereinafter referred to as a “Reimbursement Obligation” with respect to such Letter of Credit or L/C Draft), each such
reimbursement to be made by such Borrower no later than the Business Day on
which the applicable Issuing Bank makes payment of each such L/C Draft or, if
such Borrower shall have received notice of a Reimbursement Obligation later
than 10:00 a.m. (New York time) on any Business Day or on a day which is
not a Business Day, no later than 10:00 a.m. (New York time) on the immediately
following Business Day or, in the case of any other draw on a Letter of Credit,
the date specified in the demand of the applicable Issuing Bank. If any Borrower
at any time fails to repay a Reimbursement Obligation pursuant to this
Section 3.7, such Borrower shall be deemed to have elected to
borrow Revolving Loans from the Revolving Loan Lenders, as of the date of the
advance giving rise to the Reimbursement Obligation, in an aggregate amount
equal to (and in the same Agreed Currency as) the unpaid Reimbursement
Obligation. Such Revolving Loans shall be made as of the date of the payment
giving rise to such Reimbursement Obligation subject to satisfaction of the
conditions to borrowing set forth herein. Revolving Loans made pursuant to this
Section 3.7, if made in Dollars, shall initially be Floating
Rate Advances and thereafter may be continued as Floating Rate Advances or
converted into Eurocurrency Rate Advances in the manner provided in
Section 2.9 and subject to the other conditions and
limitations therein set forth and set forth in Article II and in the definition of Interest Period. Revolving Loans made pursuant
to this Section
3.7, if made in an Agreed
Currency other than Dollars, shall initially be Eurocurrency Rate Advances
having an Interest Period selected by the Administrative Agent and thereafter
shall be subject to Section
2.9 and the other conditions and
limitations therein set forth and set forth in Article II and in the definition of Interest Period. If, for any reason, the
Borrowers fail to repay a Reimbursement Obligation on the day such Reimbursement
Obligation arises and, for any reason, the Revolving Loan Lenders are unable to
make or have no obligation to make Revolving Loans, then the Administrative
Agent shall notify each Revolving Loan Lender of the applicable Reimbursement
Obligations, the payment then due from the Borrowers in respect thereof and such
Revolving Loan Lender’s Pro Rata Share thereof. Promptly following receipt of
such notice, each Revolving Loan Lender shall pay to the Administrative Agent
its Pro Rata Share of the payment then due from the Borrower, in the same manner
as provided in Section 2.11 with respect to Loans made by such Lender (and
Section 2.11 shall apply, mutatis mutandis, to the payment obligations of the Revolving Loan Lenders), and the
Administrative Agent shall promptly pay to the applicable Issuing Bank the
amounts so received by it from the Revolving Loan Lenders. Promptly following
receipt by the Administrative Agent of any payment from the Borrowers pursuant
to this paragraph, the Administrative Agent shall distribute such payment to the
Issuing Bank or, to the extent that Revolving Loan Lenders have made payments
pursuant to this paragraph to reimburse the Issuing Bank, then to such Lenders
and the Issuing Bank as their interests may appear. Any payment made by a
Revolving Loan Lender pursuant to this paragraph to reimburse the Issuing Bank
for any Reimbursement Obligations (other than the funding of Revolving Loans as
contemplated above) shall not constitute a Revolving Loan and shall not relieve
the Borrowers of their obligation to reimburse such Reimbursement Obligations.
Reimbursement Obligations that have not been paid by the Borrowers when due
shall bear interest from and after such day, until paid in full, at the interest
rate applicable to a Floating Rate Advance consisting of Revolving Loans
plus two percent (2.0%) per annum.

65 

3.8. Letter of Credit Fees. Except as provided in Section 2.22(B), the Company agrees to pay: 

(A) quarterly on each
Payment Date, in arrears, to the Administrative Agent for the benefit of the
Revolving Loan Lenders a letter of credit fee (the “LC Fee”) at a rate per annum equal to the Applicable L/C Fee Percentage on each
Revolving Loan Lender’s Revolving Pro Rata Share of the average daily
outstanding Dollar Amount available for drawing under each Letter of Credit
during the calendar quarter ending on such Payment Date; 

(B) to each Issuing Bank
with respect to each Letter of Credit, a fronting fee in an amount (and payable
at such times) as shall be agreed upon between the Company and the Issuing Bank
with respect to such Issuing Bank’s Letter of Credit; and 

(C) to each Issuing Bank,
its standard fees and commissions with respect to the issuance, amendment,
cancellation, negotiation, transfer, presentment, renewal or extension of
Letters of Credit or the processing of drawings thereunder which are charged to
its other similarly situated customers, payable within ten (10) days after
demand therefor. 

3.9. Issuing Bank Reporting
Requirements. In addition to the
notices required by Section
3.5(B), each Issuing Bank shall
provide to the Administrative Agent, no later than the tenth (10th) Business Day
following the last day of each month, and otherwise upon the Administrative
Agent’s request, schedules, in form and substance reasonably satisfactory to the
Administrative Agent, showing the date of issue, account party, Agreed Currency
and amount in such Agreed Currency, expiration date and the reference number of
each Letter of Credit outstanding at any time during such month and the
aggregate amount payable by the Company during such month. In addition, unless
otherwise requested by the Administrative Agent, each Issuing Bank shall report
in writing to the Administrative Agent (i) on or prior to each Business Day on
which such Issuing Bank expects to issue, amend, renew or extend any Letter of
Credit, the date of such issuance, amendment, renewal or extension, and the
aggregate face amount of the Letter of Credit to be issued, amended, renewed or
extended by it and outstanding after giving effect to such issuance, amendment,
renewal or extension occurred (and whether the amount thereof changed), it being
understood that such Issuing Bank shall not permit any issuance, renewal,
extension or amendment resulting in an increase in the amount of any Letter of
Credit to occur without first obtaining written confirmation from the
Administrative Agent that it is then permitted under this Agreement, (ii) on
each Business Day on which such Issuing Bank makes any payment under any Letter
of Credit, the date of such payment under such Letter of Credit and the amount
of such payment, (iii) on any Business Day on which the Borrower fails to
reimburse any payment under any Letter of Credit required to be reimbursed to
such Issuing Bank on such day, the date of such failure and the amount of such
payment and (iv) on any other Business Day, such other information as the
Administrative Agent shall reasonably request. Upon the request of any Revolving
Loan Lender, the Administrative Agent will provide to such Lender information
concerning such Letters of Credit. 

66 

3.10. Indemnification; Exoneration. In addition to amounts payable as elsewhere
provided in this Article
III, each Borrower hereby agrees
to protect, indemnify, pay and save harmless the Administrative Agent, each
Issuing Bank and each Lender from and against any and all liabilities and costs
which the Administrative Agent, any Issuing Bank or such Lender may incur or be
subject to as a consequence, direct or indirect, of (i) the issuance of any
Letter of Credit other than, in the case of an Issuing Bank, to the extent
resulting from its gross negligence or willful misconduct, or (ii) the failure
of an Issuing Bank to honor a drawing under a Letter of Credit as a result of
any act or omission, whether rightful or wrongful, of any present or future de
jure or de facto Governmental Authority (all such acts or omissions herein
called “Governmental Acts”). 

(B) As among the Borrowers,
the Lenders, the Administrative Agent and the Issuing Banks, the Borrowers
assume all risks of the acts and omissions of, or misuse of such Letter of
Credit by, the beneficiary of any Letter of Credit. In furtherance and not in
limitation of the foregoing, subject to the provisions of the Letter of Credit
applications and Letter of Credit reimbursement agreements executed by any
Borrower at the time of request for any Letter of Credit, neither the
Administrative Agent, any Issuing Bank nor any Lender shall be responsible (in
the absence of gross negligence or willful misconduct in connection therewith as
determined by a court of competent jurisdiction in a final and non-appealable
judgment): (i) for the form, validity, sufficiency, accuracy, genuineness or
legal effect of any document submitted by any party in connection with the
application for and issuance of a Letter of Credit, even if it should in fact
prove to be in any or all respects invalid, insufficient, inaccurate, fraudulent
or forged; (ii) for the validity or sufficiency of any instrument transferring
or assigning or purporting to transfer or assign a Letter of Credit or the
rights or benefits thereunder or proceeds thereof, in whole or in part, which
may prove to be invalid or ineffective for any reason; (iii) for failure of the
beneficiary of a Letter of Credit to comply duly with conditions required in
order to draw upon such Letter of Credit; (iv) for errors, omissions,
interruptions or delays in transmission or delivery of any messages, by mail,
cable, telegraph, telex, facsimile, electronic transmission or otherwise; (v)
for errors in interpretation of technical trade terms; (vi) for any loss or
delay in the transmission or otherwise of any document required in order to make
a drawing under any Letter of Credit or of the proceeds thereof; (vii) for the
misapplication by the beneficiary of a Letter of Credit of the proceeds of any
drawing under such Letter of Credit; and (viii) for any consequences arising
from causes beyond the control of the Administrative Agent, the Issuing Banks
and the Lenders, including, without limitation, any Governmental Acts. None of
the above shall affect, impair, or prevent the vesting of any Issuing Bank’s
rights or powers under this Section 3.10. 

(C) In furtherance and
extension and not in limitation of the specific provisions hereinabove set
forth, any action taken or omitted by any Issuing Bank under or in connection
with the Letters of Credit or any related certificates shall not, in the absence
of gross negligence or willful misconduct, put any Issuing Bank, the
Administrative Agent or any Lender under any resulting liability to any Borrower
or relieve any Borrower of any of its obligations hereunder to any such Person.

(D) Without prejudice to
the survival of any other agreement of the Borrowers hereunder, the agreements
and obligations of the Borrowers contained in this Section 3.10 shall survive the payment in full
of principal and interest hereunder, the termination of the Letters of Credit
and the termination of this Agreement. 

67

3.11. Collateral Account.

(A) Each Borrower agrees
that the Company will, on behalf of itself and the Subsidiary Borrower, upon the
request of the Administrative Agent or the Required Lenders and until the final
expiration date of any Letter of Credit and thereafter as long as any amount is
payable to the Issuing Banks or the Revolving Loan Lenders in respect of any
Letter of Credit, maintain one or more special collateral accounts pursuant to
arrangements satisfactory to the Administrative Agent (all such accounts,
collectively, the “L/C
Collateral Account”) at the
Administrative Agent’s office at the address specified pursuant to
Article XIV, in the name of the Company but under the sole
dominion and control of the Administrative Agent, for the benefit of the Holders
of Secured Obligations, and in which no Borrower shall have any interest other
than as set forth in Section
9.1. Each Borrower hereby
pledges, assigns and grants to the Administrative Agent, on behalf of and for
the ratable benefit of the Holders of Secured Obligations, a security interest
in all of such Borrower’s right, title and interest in and to all funds which
may from time to time be on deposit in the L/C Collateral Account to secure the
prompt and complete payment and performance of the Obligations. The
Administrative Agent will invest any funds on deposit from time to time in the
L/C Collateral Account in certificates of deposit of JPMCB having a maturity not
exceeding 30 days. Nothing in this Section 3.11(A) shall
either obligate the Administrative Agent to require any Borrower to deposit any
funds in the L/C Collateral Account or limit the right of the Administrative
Agent to release any funds held in the L/C Collateral Account in each case other
than as required by Section
2.4(B) or 9.1
or this Section
3.11. 

(B) The Administrative
Agent may at any time or from time to time after any funds are deposited in the
L/C Collateral Account (whether pursuant to Section 2.4(B), 2.22(A) or 9.1
or any other provision of this Agreement or any other Loan Document) and after
the occurrence and during the continuance of a Default, apply such funds to the
payment of the Secured Obligations and any other amounts as shall from time to
time have become due and payable by the Borrowers to the Administrative Agent,
the Lenders or the Issuing Banks under the Loan Documents. 

(C) After all of the
Secured Obligations have been indefeasibly paid in full and the Aggregate
Revolving Loan Commitment has been terminated, any funds remaining in the L/C
Collateral Account shall be returned by the Administrative Agent to the
Borrowers or paid to whomever may be legally entitled thereto at such time.

3.12. Rights as a Lender. In its capacity as a Lender, each Issuing Bank
shall have the same rights and obligations as any other Lender. 

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3.13. Replacement and Resignation of Issuing
Bank.

(A) An Issuing Bank may be
replaced at any time by written agreement among the Company, the Administrative
Agent, the replaced Issuing Bank and a successor Issuing Bank. The
Administrative Agent shall notify the Lenders of any such replacement of an
Issuing Bank. At the time any such replacement shall become effective, the
Company shall pay all unpaid fees accrued for the account of the replaced Issuing Bank pursuant to
Section 3.8. From and after the effective date of any such
replacement, (i) the successor Issuing Bank shall have all the rights and
obligations of the replaced Issuing Bank under this Agreement with respect to
Letters of Credit to be issued thereafter and (ii) references herein to the term
“Issuing Bank” shall be deemed to refer to such successor or to any previous
Issuing Bank, or to such successor and all previous Issuing Banks, as the
context shall require. After the replacement of an Issuing Bank hereunder, the
replaced Issuing Bank shall remain a party hereto and shall continue to have all
the rights and obligations of an Issuing Bank under this Agreement with respect
to Letters of Credit then outstanding and issued by it prior to such
replacement, but shall not be required to issue additional Letters of Credit.

(B) Subject to the
appointment and acceptance of a successor Issuing Bank, an Issuing Bank may
resign as an Issuing Bank at any time upon thirty days’ prior written notice to
the Administrative Agent, the Company and the Lenders, in which case, such
Issuing Bank shall be replaced in accordance with Section 3.13(A) above. 

ARTICLE IV: CHANGE IN
CIRCUMSTANCES 

4.1. Yield Protection. If any Change in Law:

(A) subjects the
Administrative Agent or any Lender to any taxes, imposts, deductions, fees,
assessments, charges, or withholdings (other than (i) Taxes, (ii) items
described in clauses
(A) and (C)
of the definition of Excluded Taxes, (iii) Connection Income Taxes and (iv)
Other Taxes) on its loans, loan principal, letters of credit, commitments, or
other obligations, or its deposits, reserves, other liabilities or capital
attributable thereto; or 

(B) imposes, modifies or
deems applicable any reserve, special deposit, liquidity or similar requirement
(including any compulsory loan requirement, insurance charge or other
assessment) against assets of, deposits with or for the account of, or credit
extended by, any Lender or any applicable Lending Installation or any Issuing
Bank (other than reserves and assessments taken into account in determining the
interest rate applicable to Eurocurrency Rate Loans) with respect to its
Revolving Loan Commitment, Loans, L/C Interests or the Letters of Credit, or

(C) imposes on any
Lender, the Administrative Agent or the London interbank market any other
condition, cost or expense (other than taxes) affecting this Agreement or Loans
made by such Lender or any Letter of Credit or participation therein;

and the result of any of
the foregoing shall be to increase the cost to such Lender or the Administrative
Agent of making, continuing, converting into or maintaining any Loan or of
maintaining its obligation to make any such Loan or to increase the cost to such
Lender or the Administrative Agent of participating in, issuing or maintaining
any Letter of Credit or to reduce the amount of any sum received or receivable
by such Lender or the Administrative Agent, whether of principal, interest or
otherwise, then, within fifteen (15) days after receipt by the Company of
written demand by the Administrative Agent or such Lender, pursuant to
Section 4.5,
the Company will pay to such Lender or the Administrative Agent, as the case may
be, such additional amount or amounts as will compensate such Lender or the
Administrative Agent, as the case may be, for such additional costs incurred or
reduction suffered.

69 

4.2. Changes in Capital Adequacy
Regulations. If any Lender
determines that any Change in Law regarding capital or liquidity 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, its Loans, its L/C Interests, the Letters of
Credit or its obligation to make Loans hereunder, 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 and
liquidity), then, within fifteen (15) days after receipt by the Company of
written demand by such Lender pursuant to Section 4.5, the Company
shall pay such Lender the amount necessary to compensate for any shortfall in
the rate of return on the portion of such increased capital or liquidity which
such Lender determines is attributable to this Agreement, its Loans, its L/C
Interests, the Letters of Credit or its obligation to make Loans
hereunder.

4.3. Availability of Types of Advances.

(A) If at the time that the
Administrative Agent shall seek to determine the LIBOR Screen Rate on the
Quotation Day for any Interest Period for a Eurocurrency Rate Advance, the LIBOR
Screen Rate shall not be available for such Interest Period and/or for the
applicable currency with respect to such Eurocurrency Rate Advance for any
reason, and the Administrative Agent shall reasonably determine that it is not
possible to determine the Interpolated Rate (which conclusion shall be
conclusive and binding absent manifest error), then (i) if such Advance shall be
requested in Dollars, then such Advance shall be made as a Floating Rate Advance
at the Floating Rate and (ii) if such Advance shall be requested in any Agreed
Currency other than Dollars, the Eurocurrency Base Rate shall be equal to the
rate determined by the Administrative Agent in its reasonable discretion after
consultation with the Borrowers and consented to in writing by the Required
Lenders (the “Alternative
Rate”); provided, however, that until such time as the Alternative Rate
shall be determined and so consented to by the Required Lenders, Advances shall
not be available in any Agreed Currency other than Dollars. 

(B) If (i) the
Administrative Agent determines (which determination shall be conclusive and
binding absent manifest error) that adequate and reasonable means do not exist
for ascertaining the Adjusted Eurocurrency Base Rate or the Eurocurrency Base
Rate, as applicable, for a Loan in the applicable currency or for the applicable
Interest Period, (ii) any Lender determines that maintenance of its Eurocurrency
Rate Loans at a suitable Lending Installation would violate any applicable law,
rule, regulation or directive, whether or not having the force of law or (iii)
the Required Lenders determine that (x) deposits of a type, currency or maturity
appropriate to match fund Eurocurrency Rate Loans are not available or (y) the
interest rate applicable to Eurocurrency Rate Loans does not accurately reflect
the cost of making or maintaining such an Advance, then (i) any request by the
Company that requests the conversion of any Advance to, or continuation of any
Advance as, a Eurocurrency Rate Advance in the applicable currency or for the
applicable Interest Period, as the case may be, shall be ineffective, (ii) if
any Borrowing/Election Notice requests a Eurocurrency Rate Advance in Dollars,
such Advance shall be made as a Floating Rate Advance and (iii) if any
Borrowing/Election Notice requests a Eurocurrency Rate Advance in an Agreed
Currency other than Dollars, then the Eurocurrency Base Rate for such
Eurocurrency Rate Advance shall be the Alternative Rate; provided that if the circumstances giving rise to such notice affect only one
Type of Advances, then the other Type of Advances shall be permitted.

70 

4.4. Funding Indemnification. If any payment of principal on a Eurocurrency
Rate Loan occurs on a date which is not the last day of the applicable Interest
Period, whether because of acceleration, prepayment or otherwise, or a
Eurocurrency Rate Loan is not made or continued, or a Floating Rate Advance is
not converted into a Eurocurrency Rate Advance, in any such case, on the date
specified by any Borrower for any reason other than default by the Lenders, or a
Eurocurrency Rate Advance is not prepaid on the date specified by the Company or
any other Borrower for any reason, the Company shall indemnify each Lender for
any loss or cost incurred by it resulting therefrom, including, without
limitation, any loss or cost in liquidating or employing deposits acquired to
fund or maintain the Eurocurrency Rate Loan. 

4.5. Lender Statements; Survival of
Indemnity. If reasonably
possible, each Lender shall designate an alternate Lending Installation with
respect to its Eurocurrency Rate Loans to reduce any liability of the Borrowers
to such Lender under Sections
4.1 and 4.2
or to avoid the unavailability of a Type of Advance under Section 4.3, so long as such designation is not materially disadvantageous, in the
judgment of the Lender, to such Lender. Any demand for compensation pursuant to
Section 2.14(E) or this Article IV shall be in
writing and shall state the amount due, if any, under Section 2.14(E), 4.1, 4.2
or 4.4 and shall set forth in reasonable detail the
calculations upon which the Administrative Agent or the applicable Lender
determined such amount and shall be final, conclusive and binding on the
Borrowers in the absence of manifest error. Determination of amounts payable
under such Sections in connection with a Eurocurrency Rate Loan shall be
calculated as though each Lender funded its Eurocurrency Rate Loan through the
purchase of a deposit of the type, currency and maturity corresponding to the
deposit used as a reference in determining the Eurocurrency Rate applicable to
such Loan, whether in fact that is the case or not. The obligations of the
Borrowers under Sections
2.14(E), 4.1, 4.2 or 4.4 shall survive payment
of the Obligations and termination of this Agreement. 

ARTICLE V: CONDITIONS
PRECEDENT 

5.1. Effectiveness. The effectiveness of the amendment and
restatement of the Existing Credit Agreement in the form of this Agreement is
subject to the satisfaction of the conditions precedent set forth in Section 4
of the Third Amendment and Restatement Agreement. 

5.2. Each Advance and Letter of Credit. The Lenders shall not be required to make,
convert or continue any Advance or issue, amend, renew or extend any Letter of
Credit, unless on the applicable Credit Extension Date, both before and after
giving effect to such Advance, conversion, continuation or Letter of Credit
event: 

(A) There exists no Default
or Unmatured Default; 

(B) The representations and
warranties contained in Article
VI are true and correct in all
material respects as of such Credit Extension Date (unless such representation
and warranty is made as of a specific date, in which case, such representation
and warranty shall be true and correct in all material respects as of such
date). 

71 

(C) (i) The Dollar Amount
of the Revolving Credit Obligations does not, and after making such proposed
Advance or issuing, extending, renewing or amending such Letter of Credit would
not, exceed the Aggregate Revolving Loan Commitment and (ii) the Dollar Amount
of the Revolving Credit Obligations denominated in Agreed Currencies other than
Dollars does not, and after making such proposed Advance or issuing, extending,
renewing or amending such Letter of Credit would not, exceed the Foreign
Currency Sublimit. 

(D) The Facility
Obligations Amount does not, and after making such proposed Advance or issuing
such Letter of Credit would not, exceed the Collateral Value Amount. 

(E) In the case of any
Advance the proceeds of which shall be used to repay, repurchase, retire, redeem
or defease any Senior Notes, the Company shall have furnished a certificate of a
Designated Financial Officer demonstrating pro
forma compliance with the Priority Debt Ratio under
Section 7.4(A) as of the last day of the Company’s most recently
completed fiscal quarter for which financial statements are publicly available,
which pro forma compliance shall be
determined based on the ratio of (i) Priority Debt as of the date of such
Advance (and after giving effect to such Advance) to (ii) EBITDA for the four
consecutive fiscal quarters then ended on the last day of such fiscal quarter.

Each Borrowing/Election
Notice with respect to each such Advance and the letter of credit application
with respect to each Letter of Credit shall constitute a representation and
warranty by the Company that the conditions contained in Sections 5.2(A), (B), (C), (D) and, if applicable, (E)
have been satisfied. 

ARTICLE VI:
REPRESENTATIONS AND WARRANTIES 

In order to induce the
Administrative Agent and the Lenders to enter into this Agreement and to make
the Loans and the other financial accommodations to the Borrowers and to issue
the Letters of Credit described herein, the Company represents and warrants as
follows with respect to itself and its Subsidiaries (and the Subsidiary Borrower
shall also be deemed to make each representation and warranty to the extent it
relates to the Subsidiary Borrower and its Subsidiaries) to each Lender and the
Administrative Agent as of the Restatement Effective Date, giving effect to the
consummation of the transactions contemplated by the Loan Documents on the
Restatement Effective Date, and thereafter on each date as required by
Section 5.2: 

6.1. Corporate Existence and Standing. Each of the Company and its Subsidiaries is a
corporation, partnership, limited liability company or other organization duly
incorporated or organized, validly existing and in good standing (to the extent
such concept is applicable to such entity) under the laws of its jurisdiction of
incorporation or organization and has all requisite authority to conduct its
business in each jurisdiction in which its business is conducted and where the
failure to be in good standing or authorized to conduct business would have a
Material Adverse Effect. 

72 

6.2. Authorization, Validity and
Enforceability. Each Borrower and
each Subsidiary Guarantor has the corporate or other power and authority and
legal right to execute and deliver the Loan Documents to which it is a
party and to perform its obligations thereunder. The execution and delivery by
each Borrower and each Subsidiary Guarantor of the Loan Documents to which it is
a party and the performance of its obligations thereunder have been duly
authorized by proper corporate, partnership or limited liability company
proceedings (or analogous acts in the case of any Foreign Subsidiary), and the
Loan Documents to which it is a party constitute legal, valid and binding
obligations of such Person enforceable against such Person in accordance with
their terms, except as enforceability may be limited by bankruptcy, insolvency
or similar laws affecting the enforcement of creditors’ rights generally.

6.3. No Conflict; Consent. Neither the execution and delivery by the
Borrowers and the Subsidiary Guarantors of the Loan Documents, nor the
consummation of the transactions therein contemplated, nor compliance with the
provisions thereof will violate any law, rule, regulation, order, writ,
judgment, injunction, decree or award binding on the Company or any of its
Subsidiaries or the Company’s or any Subsidiary’s articles of incorporation or
by-laws or comparable constitutive documents or the provisions of any indenture,
instrument or agreement to which the Company or any of its Subsidiaries is a
party or is subject, or by which it, or its Property, is bound, or conflict with
or constitute a default thereunder, or result in the creation or imposition of
any Lien (other than any Lien permitted by Section 7.3(F)) in, of or on the Property of the Company or a
Subsidiary pursuant to the terms of any such indenture, instrument or agreement,
except for any such violation, conflict or default as would not reasonably be
expected to have a Material Adverse Effect. No order, consent, approval,
license, authorization, or validation of, or filing, recording or registration
with, or exemption by, any Governmental Authority, or any other third party, is
required to authorize, or is required in connection with the execution, delivery
and performance of, or the legality, validity, binding effect or enforceability
of, any of the Loan Documents. 

6.4. Financial Statements. The October 2, 2016 audited annual consolidated
financial statements of the Company and its Subsidiaries and the January 1, 2017
quarterly consolidated financial statements of the Company and its Subsidiaries,
each heretofore delivered to the Lenders, were prepared in accordance with
generally accepted accounting principles in effect in the United States of
America on the date such statements were prepared and fairly present the
consolidated financial condition and operations of the Company and its
Subsidiaries at such date and the consolidated results of their operations for
the period then ended (subject to year-end audit adjustments and the absence of
footnotes in the case of the quarterly financial statements).

6.5. Material Adverse Change. Since October 2, 2016, there has been no change
in the business, condition (financial or otherwise), operations, performance or
Properties of the Company and its Subsidiaries, as reflected in the audited
annual consolidated financial statements of the Company and its Subsidiaries for
the fiscal year ended on such date described in Section 6.4, which has had or could reasonably be expected to have a Material
Adverse Effect. 

6.6. Taxes. The Company and its Subsidiaries have filed all United States federal
tax returns and all other tax returns which are required to be filed and have
paid all taxes due by the Company or any of its Subsidiaries, except such taxes,
if any, as are being contested in good faith and as to which adequate reserves
have been provided in accordance with Agreement Accounting Principles and such
failures to file or pay, if any, as would not reasonably be expected to have a
Material Adverse Effect. No tax liens have been filed and no claims are being
asserted with respect to any such taxes, other than as permitted by Section 7.3(F)(ii). The charges, accruals and reserves on the books
of the Company and its Subsidiaries in respect of any taxes or other
governmental charges are adequate. 

73 

6.7. Litigation and Contingent
Obligations. Except as set forth
on Schedule 6.7 hereto, there is no litigation, arbitration,
governmental investigation, proceeding or inquiry pending, or, to the knowledge
of any of their officers, threatened against or affecting the Company or any of
its Subsidiaries which could reasonably be expected to have a Material Adverse
Effect or which seeks to prevent, enjoin or delay the making of the Loans or
Advances. As of the Restatement Effective Date, other than any liability
incident to such litigation, arbitration or proceedings, the Company and its
Subsidiaries have no material Contingent Obligations not provided for or
disclosed in the financial statements referred to in Section 6.4. 

6.8. Subsidiaries. Schedule 6.8 hereto
contains an accurate list of all Subsidiaries of the Company existing on the
Restatement Effective Date, setting forth their respective jurisdictions of
incorporation and the percentage of their respective Capital Stock owned by the
Company or other Subsidiaries. All of the issued and outstanding shares of
Capital Stock of such Subsidiaries have been duly authorized and issued and are
fully paid and non-assessable. 

6.9. ERISA; Foreign Plans; Multiemployer
Plans. Each Plan and each Foreign
Plan complies with all applicable requirements of law and regulations and the
provisions of the Plan documents except for a failure to comply which would not
result in a material liability. No Benefit Plan has failed to satisfy the
“minimum funding standard” (as defined in Section 412 of the Code or Section 302
of ERISA), whether or not waived. Neither the Company nor any member of the
Controlled Group has failed to make a required minimum contribution or, if
applicable, a required installment, in either case, under Section 430(j) of the
Code and of a material amount on or before the due date for such contribution or
installment. Neither the Company nor any member of the Controlled Group has
taken or failed to take any action which would constitute or result in a
Termination Event which could reasonably be expected to subject the Company or a
Controlled Group member to a material liability. Neither the Company nor any
member of the Controlled Group has incurred any material liability to the PBGC
which remains outstanding other than for the payment of premiums. For purposes
of this Section
6.9, “material” means any amount,
noncompliance or other basis for liability which, individually or in the
aggregate with each other basis for liability under this Section 6.9, could reasonably be expected to subject the Company to liability having
a Material Adverse Effect. 

6.10. Accuracy of Information. No written information, exhibit or report
furnished by the Company or any of its Subsidiaries to the Agents or to any
Lender in connection with the negotiation of, or compliance with, the Loan
Documents, contained any material misstatement of fact or omitted to state a
material fact or any fact necessary to make the statements contained therein not
misleading in light of the circumstances in which they were made;
provided, that, with respect to the projected financial
information regarding the Company and its Subsidiaries heretofore delivered to
the Lenders in connection with the closing on the Restatement Effective Date,
the Company represents that only such information is based on estimates and
assumptions considered reasonable by the Company’s management and the best
information available to the Company’s management at the time such projected
financial information was provided, and uses information consistent with the
plans of the Company, it being understood that such financial information is
subject to significant uncertainties and contingencies, many of which are beyond
the control of the Company and no assurances can be given that the projected
results will be realized. 

74 

6.11. Regulation U. Neither the Company nor any Subsidiary is
engaged principally, or as one of its important activities, in the business of
extending credit for the purpose, whether immediate, incidental or ultimate of,
buying or carrying Margin Stock. 

6.12. Material Agreements. Neither the Company nor any Subsidiary is a
party to any agreement or instrument or subject to any charter or other
corporate restriction which could reasonably be expected to have a Material
Adverse Effect. Neither the Company nor any Subsidiary is in default in the
performance, observance or fulfillment of any of the obligations, covenants or
conditions contained in (a) any agreement to which it is a party, which default
could reasonably be expected have a Material Adverse Effect or (b) any agreement
or instrument evidencing or governing Material Indebtedness. 

6.13. Compliance With Laws. The Company and its Subsidiaries have complied
with all applicable statutes, rules, regulations, orders and restrictions of any
domestic or foreign government or any instrumentality or agency thereof having
jurisdiction over the conduct of their respective businesses or the ownership of
their respective Property if failure to comply therewith could reasonably be
expected to have a Material Adverse Effect. 

6.14. Plan Assets; Prohibited
Transactions. None of the
Borrowers is an entity deemed to hold “plan assets” within the meaning of 29
C.F.R. § 2510.3-101, as modified by Section 3(42) of ERISA, of an employee
benefit plan (as defined in Section 3(3) of ERISA) which is subject to Title I
of ERISA or any plan (within the meaning of Section 4975 of the Code). The
Company and its Subsidiaries have not engaged in any prohibited transaction
within the meaning of Section 406 of ERISA or Section 4975 of the Code which
could reasonably be expected to result in liability, individually or in the
aggregate, having a Material Adverse Effect; and neither the execution of this
Agreement nor the making of Loans (assuming that the Lenders do not fund any of
the Loans with any “plan assets” as defined under ERISA) hereunder give rise to
a non-exempt prohibited transaction within the meaning of Section 406 of ERISA
or Section 4975 of the Code. 

6.15. Environmental Matters. In the ordinary course of its business, the
Company considers the effect of Environmental Laws on the business of the
Company and its Subsidiaries, in the course of which it identifies and evaluates
potential risks and liabilities accruing to the Company due to Environmental
Laws. On the basis of this consideration, the Company has concluded that
Environmental Laws cannot reasonably be expected to result in liability,
individually or in the aggregate, having a Material Adverse Effect. Neither the
Company nor any Subsidiary has received any notice to the effect that its
operations are not in material compliance with any of the requirements of
applicable Environmental Laws or are the subject of any federal or state
investigation evaluating whether any remedial action is needed to respond to a
release of any toxic or hazardous waste or substance into the environment, which
non-compliance or remedial action could reasonably be expected to result in
liability, individually or in the aggregate, having a Material Adverse Effect.

75 

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

6.17. ArvinMeritor Receivables
Corporation. ARC (or any other
SPV party to a Permitted Domestic Receivables Securitization) has been and
continues to be designated as an “Unrestricted Subsidiary” under and as defined
in each Senior Note Indenture. 

6.18. Ownership of Properties. The Company and its Subsidiaries have good
title, free of all Liens other than those permitted by Section 7.3(F), to all of the assets reflected in the Company’s
most recent consolidated financial statements provided to the Administrative
Agent as owned by the Company and the Subsidiaries, except assets sold or
otherwise transferred as permitted under Section 7.3(C).

6.19. Insurance. The Company and its Subsidiaries maintain, with financially sound and
reputable insurance companies, insurance in such amounts, subject to deductibles
and self-insurance retentions, and covering such properties and risks, as is
consistent with sound business practices. 

6.20. No Default or Unmatured Default. No Default or Unmatured Default has occurred and
is continuing. 

6.21. Solvency. After giving effect to (a) the Loans to be made (or, if applicable,
Letters of Credit to be issued or deemed issued) on the Restatement Effective
Date or such other date as Loans requested hereunder are made (or Letters of
Credit are issued), (b) the other transactions contemplated by this Agreement
and the other Loan Documents and (c) the payment and accrual of all transaction
costs with respect to the foregoing, the Company is, and the Company and its
Subsidiaries taken as a whole are, Solvent. 

6.22. Benefits. Each of the Company and its Subsidiaries will benefit from the
financing arrangement established by this Agreement. The Administrative Agent
and the Lenders have stated and acknowledge that, but for the agreement by each
of the Subsidiary Guarantors to execute and deliver the Subsidiary Guaranty, the
Subsidiary Borrower to assume joint and several liability for the Obligations to
the extent provided in Section
1.4 or any other Subsidiary to
execute and deliver any Loan Document to which it is a party, the Administrative
Agent and the Lenders would not have made available the credit facilities
established hereby on the terms set forth herein. 

76 

6.23. Anti-Corruption Laws and Sanctions. The Company has implemented and maintains in
effect policies and procedures designed to ensure compliance by the Company, its
Subsidiaries and their respective directors, officers, employees and agents with
Anti-Corruption Laws and applicable Sanctions, and the Company, its Subsidiaries
and their respective officers and directors and to the knowledge of the Company
its employees and agents, are in compliance with Anti-Corruption Laws and
applicable Sanctions in all material respects and, in the case of the Subsidiary
Borrower, is not knowingly engaged in any activity that could reasonably be
expected to result in the Subsidiary Borrower being designated as a Sanctioned
Person. None of (a) the Company, any Subsidiary or to the knowledge of the
Company or such Subsidiary any of their respective directors, officers or employees, or (b) to the
knowledge of the Company, any agent of the Company or any Subsidiary that will
act in any capacity in connection with or benefit from the credit facility
established hereby, is a Sanctioned Person. None of the execution, delivery and
performance by the Loan Parties of this Agreement and the other Loan Documents,
the borrowing of Loans and other credit extensions, the use of the proceeds
thereof or the issuance of Letters of Credit hereunder will violate
Anti-Corruption Laws or applicable Sanctions. 

6.24. Additional Representations and Warranties of the
Subsidiary Borrower. In addition
to the foregoing, the Subsidiary Borrower further represents and warrants to the
Administrative Agent and the Lenders as follows: 

(A) Filing. To ensure the enforceability or admissibility in evidence of this
Agreement and each other Loan Document to which the Subsidiary Borrower is a
party in its jurisdiction of organization (“Home Country”), it is not necessary that this Agreement or any
other Loan Document to which the Subsidiary Borrower is a party or any other
document be filed or recorded with any court or other authority in its Home
Country or that any stamp or similar tax be paid in respect of this Agreement or
any other Loan Document of the Subsidiary Borrower. The qualification by any
Lender or the Administrative Agent for admission to do business under the laws
of the Subsidiary Borrower’s Home Country does not constitute a condition to,
and the failure to so qualify does not affect, the exercise by any Lender or the
Administrative Agent of any right, privilege, or remedy afforded to any Lender
or the Administrative Agent in connection with the Loan Documents to which the
Subsidiary Borrower is a party or the enforcement of any such right, privilege,
or remedy against the Subsidiary Borrower. The performance by any Lender or the
Administrative Agent of any action required or permitted under the Loan
Documents will not (i) violate any law or regulation of the Subsidiary
Borrower’s Home Country or any political subdivision thereof, (ii) result in any
tax or other monetary liability to such party pursuant to the laws of the
Subsidiary Borrower’s Home Country or political subdivision or taxing authority
thereof (provided, that, should any such action result in any such
tax or other monetary liability to the Lender or the Administrative Agent, the
Subsidiary Borrower hereby agrees to indemnify such Lender or the Administrative
Agent, as the case may be, against (x) any such tax or other monetary liability
and (y) any increase in any tax or other monetary liability which results from
such action by such Lender or the Administrative Agent and, to the extent the
Subsidiary Borrower makes such indemnification, the incurrence of such liability
by the Administrative Agent or any Lender will not constitute a Default) or
(iii) violate any rule or regulation of any federation or organization or
similar entity of which the Subsidiary Borrower’s Home Country is a member.

(B) No Immunity. Neither the Subsidiary Borrower nor any of its assets is entitled to
immunity from suit, execution, attachment or other legal process. The Subsidiary
Borrower’s execution and delivery of the Loan Documents to which it is a party
constitute, and the exercise of its rights and performance of and compliance
with its obligations under such Loan Documents will constitute, private and
commercial acts done and performed for private and commercial purposes.

(C) Not a Micro, Small and Medium-Sized
Enterprise. The Subsidiary
Borrower is not a “micro, small and medium-sized enterprise” within the meaning
of and for the purposes of the Central Bank (Supervision and Enforcement) Act
2013 (Section 48) (Lending to Small and Medium-Sized Enterprises) Regulations
2015. 

77 

6.25. EEA Financial Institution. No Loan Party is an EEA Financial
Institution.

ARTICLE VII: COVENANTS

The Company covenants and
agrees on behalf of itself and its Subsidiaries (and the Subsidiary Borrower
shall also be deemed to so covenant and agree to the extent such covenant
relates to the Subsidiary Borrower and its Subsidiaries) that so long as any
Revolving Loan Commitments are outstanding and thereafter until payment in full
of all of the Obligations (other than contingent indemnity obligations) and
expiration or termination of all Letters of Credit, in each case, without any
pending draw, unless the Required Lenders shall otherwise give prior written
consent: 

7.1. Reporting. The Company will maintain, for itself and each Subsidiary, a system of
accounting enabling it to provide, and will furnish to the Lenders: 

(A) Annual Reports. Within ninety (90) days after the close of each
of the Company’s fiscal years (or such earlier date on which such statements are
required to be filed with the Commission), annual audited consolidated financial
statements for the Company and its Subsidiaries, including a consolidated
balance sheet as of the end of such period, related statement of consolidated
income, statement of consolidated shareowners’ equity, and statement of cash
flows, all prepared in accordance with Agreement Accounting Principles,
accompanied by an unqualified audit report of independent auditors acceptable to
the Lenders; 

(B) Quarterly Reports. Within forty-five (45) days after the close of
the first three quarterly periods of each of the Company’s fiscal years (or such
earlier date on which such statements are required to be filed with the
Commission), unaudited consolidated financial statements for the Company and its
Subsidiaries, including a consolidated balance sheet as of the end of such
period, related statement of consolidated income and statement of cash flows,
all prepared in accordance with Agreement Accounting Principles, for the period
from the beginning of such fiscal year to the end of such quarter; 

(C) Compliance Certificate; Collateral Value
Certificate. Together with the
financial statements required under Sections 7.1(A) and
(B): 

(i) a certificate signed
by a Designated Financial Officer in the form of Exhibit F hereto, setting forth reasonably detailed calculations (which
calculations shall be made in accordance with Agreement Accounting Principles)
showing compliance with Sections
7.2(K), 7.2(L), 7.3 and 7.4 (including, without
limitation, a schedule (in level of detail substantially similar to the detail
contained in comparable schedules delivered to the Administrative Agent prior to
the Restatement Effective Date) setting forth the Subsidiaries of the Company as
of the end of the applicable period, and stating that no Default or Unmatured
Default exists or existed during the applicable period, or if any Default or
Unmatured Default exists or existed, stating the nature and status thereof; and

(ii) a Collateral Value
Certificate. 

78 

(D) Together with the
financial statements required under Sections 7.1(A), a
certificate of the accounting firm that reported on such financial statements
stating whether they obtained knowledge during the course of their examination
of such financial statements of any Default arising from noncompliance with
Section 7.4 (which certificate may be limited to the extent
required by accounting rules or guidelines); 

(E) ERISA Information. If requested by the Administrative Agent, within
180 days after the close of each fiscal year, (i) a statement of the Unfunded
Liabilities of each Benefit Plan, certified as correct by an actuary enrolled
under ERISA, and (ii) such other financial information regarding the Plans as
the Administrative Agent may reasonably request, certified as prepared in
accordance with generally accepted actuarial principles and practices by an
actuary enrolled under ERISA, as well as financial information regarding any
Foreign Plans, certified as prepared in accordance with locally accepted
actuarial principles and practices by a locally qualified actuary; 

(F) Termination Event. As soon as possible and in any event within ten
days after the Company knows that any Termination Event has occurred, a
statement, signed by an Authorized Officer of the Company, describing such
Termination Event and the action which the Company and the members of the
Controlled Group propose to take with respect thereto; 

(G) Environmental. As soon as possible and in any event within 15
days after receipt by the Company, a copy of (i) any notice or claim to the
effect that the Company or any of its Subsidiaries is or may be liable to any
Person as a result of the release by the Company, any of its Subsidiaries, or
any other Person of any toxic or hazardous waste or substance into the
environment and (ii) any notice alleging any violation of any Environmental Law
by the Company or any of its Subsidiaries, which, in either case, could
reasonably be expected to have a Material Adverse Effect. 

(H) Shareholder Information. Promptly upon the furnishing thereof to the
shareholders of the Company, copies of all financial statements, reports and
proxy statements so furnished; 

(I) Public Filings. Promptly upon the filing thereof, copies of all
registration statements, current reports and annual, quarterly, or other regular
reports which the Company files with the Commission, including, without
limitation, all reports on Form 10-K, 10-Q and 8-K and all certifications and
other filings required by Section 302 and Section 906 of the Sarbanes-Oxley Act
of 2002, as amended, and all rules and regulations related thereto; and

(J) Other Information. Such other information (including non-financial
information) as the Administrative Agent or any Lender may from time to time
reasonably request. 

Notwithstanding anything to
the contrary, the Company shall be deemed to have complied with the delivery
requirements under clauses
(A), (B), (H) and (I) of this
Section 7.1 by providing notification (which may be in
electronic format) to the Lenders that the required documents are publicly
available through the Company’s web site or other publicly available electronic
medium and providing the hyperlink or appropriate other locational information
for obtaining such information. 

79 

7.2. Affirmative Covenants. 

(A) Use of Proceeds. The Company will, and will cause each Subsidiary
to, use the proceeds of the Advances for the Company’s general corporate
purposes, including to finance the Borrowers’ and their Subsidiaries’ working
capital needs, and for Permitted Acquisitions; provided that: 

	      	(i)	      	the Borrowers shall use the proceeds of the
      Advances in compliance with all applicable legal and regulatory
      requirements and any such use shall not result in a violation of any such
      requirements, including, without limitation, Regulations U and X, the
      Securities Act and the Securities Exchange Act, and the regulations
      promulgated thereunder;
		 
		(ii)		no portion of the proceeds of any Advance
      shall be used, directly or indirectly, to provide funds for any Hostile
      Acquisition; and
		 
		(iii)		neither Borrower will request any Advance or
      Letter of Credit, and neither Borrower shall use, and the Company shall
      ensure that its Subsidiaries and its or their respective directors,
      officers, employees and agents shall not use, the proceeds of any Advance
      or Letter of Credit (i) in furtherance of an offer, payment, promise to
      pay, or authorization of the payment or giving of money, or anything else
      of value, to any Person in violation of any Anti-Corruption Laws, (ii) for
      the purpose of funding, financing or facilitating any activities, business
      or transaction of or with any Sanctioned Person, or in any Sanctioned
      Country, to the extent such activities, business or transaction would be
      prohibited by Sanctions if conducted by a corporation incorporated in the
      United States or in a European Union member state or (iii) in any manner
      that would result in the violation of any Sanctions applicable to any
      party hereto.

(B) Notice of Default. The Company will, and will cause each Subsidiary
to, promptly give notice (but in no event later than two (2) Business Days after
an Authorized Officer becomes aware of such occurrence) in writing to the
Administrative Agent and the Lenders of (i) the occurrence of any Default or
Unmatured Default, (ii) the delivery by any Person of any written notice to the
Company or any Subsidiary of, or the taking of any other action by any Person
with respect to, a claimed default or event or condition of the type referred to
in Section 8.1(E) and (iii) the
occurrence of any other development, financial or otherwise (including, without
limitation, any litigation), that could reasonably be expected to have a
Material Adverse Effect. 

(C) Corporate Existence. The Company shall do or cause to be done all
things necessary to preserve and keep in full force and effect its corporate
existence and the corporate existence of the Subsidiary Borrower and each other
Subsidiary in accordance with the respective organizational documents of each
such Person and the rights (charter and statutory) and material franchises of
the Company, the Subsidiary Borrower and each other Subsidiary; provided, that (except as otherwise provided herein) the Company shall not be
required to preserve any such right or franchise, or the existence of any
Subsidiary (except for the Subsidiary Borrower), if the discontinuance thereof
could not reasonably be expected to have a Material Adverse Effect.

80 

(D) Taxes. The Company will, and will cause each Subsidiary to, pay when due all
taxes, assessments and governmental charges and levies upon it or its income,
profits or property, except (i) those which are being contested in good faith by
appropriate proceedings and with respect to which adequate reserves have been
set aside in accordance with Agreement Accounting Principles and (ii) those as
to which failure to pay when due could not reasonably be expected to have a
Material Adverse Effect. 

(E) Insurance. The Company will, and will cause each Subsidiary to, maintain with
financially sound and reputable insurance companies insurance on all their
Property in such amounts, subject to such deductibles and self-insurance
retentions, and covering such properties and risks as is consistent with sound
business practice, and the Company will furnish to any Lender upon reasonable
request full information as to the insurance carried. The Company shall deliver
to the Administrative Agent endorsements (y) to all “All Risk” physical damage
insurance policies on all of the Loan Parties’ tangible real and personal
property and assets and business interruption insurance policies naming the
Administrative Agent loss payee, and (z) to all general liability and other
liability policies naming the Administrative Agent an additional insured.
Notwithstanding the foregoing, no endorsements are required to be delivered
hereunder prior to the date which is thirty (30) days after the Restatement
Effective Date or such later date as the Administrative Agent may agree in the
exercise of its reasonable discretion with respect thereto. In the event the
Company or any of its Subsidiaries at any time or times hereafter shall fail to
obtain or maintain any of the policies or insurance required herein or to pay
any premium in whole or in part relating thereto, then the Administrative Agent,
without waiving or releasing any obligations or resulting Default hereunder, may
at any time or times thereafter (but shall be under no obligation to do so)
obtain and maintain such policies of insurance and pay such premiums and take
any other action with respect thereto which the Administrative Agent deems
advisable. All sums so disbursed by the Administrative Agent shall constitute
part of the Obligations, payable as provided in this Agreement. If at any time
any Mortgaged Property is located in a designated “special flood hazard area”
with respect to which flood insurance has been made available under applicable
Flood Laws, the Loan Parties will (i) maintain fully paid flood hazard insurance
on such Mortgaged Real Property on such terms and in such amounts as required by
The National Flood Insurance Reform Act of 1994, and (ii) provide within thirty
(30) days (or such longer period as the Administrative Agent shall agree)
evidence of such coverage as Administrative Agent may reasonably request,
including, without limitation, (x) copies of any such flood insurance policies
naming the Administrative Agent as loss payee and (y) the applicable Loan
Party’s application for a flood insurance policy plus proof of premium payment,
in each case to the extent requested by the Administrative Agent. 

(F) Compliance with Laws. The Company will, and will cause each Subsidiary
to, comply with all laws, rules, regulations, orders, writs, judgments,
injunctions, decrees or awards to which it may be subject except those with
which the failure to comply would not reasonably be expected to have a Material
Adverse Effect. The Company will maintain in effect and enforce policies and
procedures designed to ensure compliance by the Company, its Subsidiaries and
their respective directors, officers, employees and agents with Anti-Corruption
Laws and applicable Sanctions. 

81 

(G) ERISA Compliance. The Company will, and will cause each Subsidiary
to, maintain and operate (i) all Plans to comply with the applicable provisions
of the Code, ERISA, all other applicable laws, and the
regulations and interpretations thereunder and the respective requirements of
the governing documents for such Plans and (ii) all Foreign Plans to comply with
all laws, regulations and rules applicable thereto and the respective
requirements of the governing documents, unless the failure to maintain, operate
and comply with the foregoing, as applicable, could not reasonably be expected
to subject the Company or its Subsidiaries to liability, individually or in the
aggregate, having a Material Adverse Effect. 

(H) Environmental Compliance. The Company will, and will cause each Subsidiary
to, comply with all Environmental Laws, except where noncompliance could not
reasonably be expected to subject the Company or any of its Subsidiaries to
liability, individually or in the aggregate, having a Material Adverse Effect.
The Company will, and will cause each Subsidiary to, upon the Administrative
Agent’s written reasonable request, (i) cause the performance of such
environmental audits and testing, and preparation of such environmental reports,
at the Company’s expense, as the Administrative Agent may from time to time
reasonably request with respect to any parcel of real Property subject to a
Mortgage, which shall be conducted by Persons reasonably acceptable to the
Administrative Agent and shall be in form and substance reasonably acceptable to
the Administrative Agent, and (ii) permit the Administrative Agent or its
representatives to have access to all such real Property for the purpose of
conducting, at the Company’s expense, such environmental audits and testing as
the Administrative Agent shall reasonably deem appropriate; provided, that if a Phase I or other environmental report with respect to any
such parcel of real Property has been completed to the reasonable satisfaction
of the Administrative Agent, then no other environmental audits, testing or
reports shall be required for such parcel of real Property during the term of
this Agreement. 

(I) Maintenance of Properties. The Company will, and will cause each Subsidiary
to, do all things reasonably necessary to maintain, preserve, protect and keep
its material Property in good repair, working order and condition in all
material respects (ordinary wear and tear excepted), and make all necessary and
proper repairs, renewals and replacements material to its business so that its
business carried on in connection therewith may be properly conducted at all
times. 

(J) Books and Records; Inspection. The Company will, and will cause each of its
Subsidiaries to, keep proper books of record and account in which full, true and
correct entries are made of all materials dealings and transactions in relation
to its business and activities. The Company will, and will cause each Subsidiary
to, permit the Administrative Agent and any or each Lender, by their respective
representatives and agents, to inspect any of the Property, corporate books and
financial records of the Company and each Subsidiary, to examine and make copies
of the books of accounts and other financial records of the Company and each
Subsidiary, including environmental assessment reports and Phase I or Phase II
studies, and to discuss the affairs, finances and accounts of the Company and
each Subsidiary with, and to be advised as to the same by, their respective
officers at such reasonable times and intervals as the Administrative Agent or
such Lender, as the case may be, may designate; provided, that the Company shall pay all reasonable costs and expenses of one
such inspection per year by the Administrative Agent and its representatives and
agents (and any representatives and agents of the Lenders participating in such
inspection); provided, further, that if a Default has occurred and is continuing, the Company shall pay
all reasonable costs and expenses of all such inspections. 

82 

(K) Guaranty Documentation. 

(i) On the Restatement
Effective Date, the Company shall cause each Domestic Subsidiary and Special
Foreign Subsidiary of the Company as of the Restatement Effective Date to
execute and deliver the Subsidiary Guaranty or, in the case of any Special
Foreign Subsidiary, such other guaranty document as the Administrative Agent
shall reasonably deem appropriate in order for such Subsidiary to provide an
unconditional guaranty of the Secured Obligations and as may be enforceable
under the laws of such Special Foreign Subsidiary’s jurisdiction of
organization, in each case, together with such other documentation with respect
to such Initial Loan Party as may be required pursuant to the terms of the Third
Amendment and Restatement Agreement. 

(ii) In addition to causing
each Domestic Subsidiary and Special Foreign Subsidiary to execute and deliver a
Subsidiary Guaranty on the Restatement Effective Date as required by the
foregoing clause
(i), the Company will cause each
Person that constitutes a Domestic Subsidiary or Special Foreign Subsidiary of
the Company after the Restatement Effective Date (whether by virtue of the
consummation of a Permitted Acquisition, any corporate reorganization or
otherwise) to execute and deliver to the Administrative Agent, as promptly as
possible, but in any event within thirty (30) days (or such later date as is
agreed to by the Administrative Agent) after such qualification, (x) an executed
supplement to become a Subsidiary Guarantor under the Subsidiary Guaranty in the
form attached thereto or, in the case of any Special Foreign Subsidiary, such
other guaranty document as the Administrative Agent shall reasonably deem
appropriate in order for such Special Foreign Subsidiary to provide an
unconditional guaranty of the Secured Obligations and as may be enforceable
under the laws of such Special Foreign Subsidiary’s jurisdiction of organization
(whereupon such Subsidiary shall become a “Subsidiary Guarantor”), (y) the
Collateral Documents required to be delivered by such Person pursuant to
Section 7.2(L)(i) and (z) resolutions, officer’s certificates,
opinions of counsel and such other authorizing documentation as the
Administrative Agent may reasonably request, all in form and substance
reasonably satisfactory to the Administrative Agent.

(iii) In addition to the
foregoing, if at any time any Foreign Subsidiary of the Company which is not a
Foreign Subsidiary Guarantor guarantees any Indebtedness of the Company or any
Domestic Subsidiary, the Company shall cause such Foreign Subsidiary to execute
and deliver to the Administrative Agent, as promptly as possible but in any
event within thirty (30) days (or such later date as is agreed to by the
Administrative Agent) after the date upon which such Subsidiary shall have
guaranteed such Indebtedness, (a) an executed supplement to become a Subsidiary
Guarantor under the Subsidiary Guaranty in the form attached thereto or such
other guaranty document as the Administrative Agent shall reasonably deem
appropriate in order for such Subsidiary to provide an unconditional guaranty of
the Secured Obligations and as may be enforceable under the laws of such Foreign
Subsidiary’s jurisdiction of organization (whereupon such Subsidiary shall
become a “Subsidiary Guarantor”), (b) the Collateral Documents required to be
delivered by such Person pursuant to Section 7.2(L)(i) and (c)
resolutions, officer’s certificates, opinions of counsel and such other
authorizing documentation as the Administrative Agent may reasonably request,
all in form and substance reasonably satisfactory to the Administrative Agent.
Following the date upon which any such Foreign Subsidiary shall cease to be
obligated as a guarantor of any Indebtedness of any Domestic Subsidiary other
than the Obligations, unless such Foreign Subsidiary shall be required to be a Subsidiary
Guarantor pursuant to the foregoing clauses (i) or
(ii), the Administrative Agent shall be authorized to,
and shall promptly, execute and deliver to the Company such documentation as the
Company may reasonably request in order to release such Foreign Subsidiary from
the applicable Subsidiary Guaranty. 

83 

(iv) Notwithstanding the
foregoing (a) the Subsidiary Borrower shall not be required to execute and
deliver a Subsidiary Guaranty and (b) so long as such Subsidiaries shall not
have guaranteed any third-party Indebtedness of the Company or any Domestic
Subsidiary the execution and delivery of a Subsidiary Guaranty shall not be
required by (1) any SPV, (2) from and after its release as described in
Section 11.15(B), any Permitted Release Guarantor and ArvinMeritor
Sweden and (2) any Subsidiary that is not a Wholly-Owned Subsidiary of the
Company to the extent the organizational documents of such Subsidiary do not
permit such Subsidiary to provide an unconditional guaranty of the Secured
Obligations (or require the consent of a third-party therefor).

(L) Collateral Documentation. 

(i) The Company will cause,
and will cause each Domestic Subsidiary Guarantor to cause, all of its owned
Property (but, in the case of issued and outstanding Capital Stock of the Pledge
Subsidiaries owned thereby, the Applicable Pledge Percentage of such Capital
Stock) to be subject at all times to first priority, perfected security
interests in favor of the Administrative Agent for the benefit of the Holders of
Secured Obligations to secure the Secured Obligations in accordance with the
terms and conditions of the Collateral Documents, subject in any case to Liens
permitted by Section
7.3(F) hereof and to the delivery
of such documentation following the Restatement Effective Date as the Company
and the Administrative Agent shall agree in writing. Without limiting the
generality of the foregoing, the Company (a) will cause the Applicable Pledge
Percentage of the issued and outstanding Capital Stock of each Pledge Subsidiary
directly owned by the Company or any Domestic Subsidiary Guarantor to be subject
at all times to a first priority, perfected security interest in favor of the
Administrative Agent to secure the Secured Obligations in accordance with the
terms and conditions of the Collateral Documents or such other security
documents as the Administrative Agent shall reasonably request and (b) will, and
will cause each Domestic Subsidiary Guarantor to, deliver Mortgages and Mortgage
Instruments with respect to each Initial Mortgaged Property and each other
parcel of real Property of the Company or such Domestic Subsidiary Guarantor as
the Administrative Agent shall reasonably request, in each case within such time
period as is reasonably required by the Administrative Agent. Notwithstanding
the foregoing, (a) no Mortgages or Mortgage Instruments or amendments thereto
described on the list of closing documents referenced in Section 3(d) of the
Third Amendment and Restatement Agreement and attached as Exhibit E to this Agreement are required to be delivered hereunder prior to the
date which is forty-five (45) days after the Restatement Effective Date or such
later date as the Administrative Agent may agree in the exercise of its
reasonable discretion with respect thereto and (b) the Collateral shall not be
required to include the Capital Stock of any Joint Venture to the extent the
organizational documents of such Joint Venture do not permit the applicable Loan
Party to pledge the Capital Stock of such Joint Venture as security for the
Secured Obligations (or require the consent of another Venturer therefor),
except to the extent provided in the Pledge and Security Agreement. 

84 

(ii) To the extent
necessary to cause the Company to comply with the proviso in Section 7.3(G)(v) in connection with a Permitted Acquisition,
Company will cause, and will cause each applicable Subsidiary to cause, the
Applicable Pledge Percentage of the Capital Stock of an acquired Person to be
subject at all times to a first priority, perfected security interest in favor
of the Administrative Agent to secure the Secured Obligations in accordance with
the terms and conditions of the applicable Collateral Documents, together with
such resolutions, officer’s certificates, opinions of counsel and such other
authorizing documentation as the Administrative Agent may reasonably request,
all in form and substance reasonably satisfactory to the Administrative Agent.

(iii) In furtherance of the
foregoing, the Company shall, and shall cause each Domestic Subsidiary Guarantor
to, upon the request of the Administrative Agent in its sole discretion, execute
and delivery a pledge agreement with respect to the Applicable Pledge Percentage
of the issued and outstanding Capital Stock of any Foreign Subsidiary specified
by the Administrative Agent, which pledge agreement shall be governed by the law
of the jurisdiction of organization of such Foreign Subsidiary, together with
resolutions, officer’s certificates, opinions of counsel and such other
authorizing documentation as the Administrative Agent may reasonably request, in
each case, within such time period as is reasonably required by the
Administrative Agent. 

(iv) Subject to
Section 7.3(K)(ii), following the date upon which (a) the Company
shall have initially achieved Single Investment Grade Status after the
Restatement Effective Date and (b) all Term Loans shall have been repaid in full
in immediately available funds and so long as no Default or Unmatured Default
has occurred and is continuing at such time (1) the Administrative Agent shall
be authorized to, and shall promptly, execute and deliver to, the Company such
documentation as the Company may reasonably request in order to release each
Loan Party from the Collateral Documents and (2) the provisions of the first
sentence of Section 7.2(L)(i) shall thereafter cease to be in effect. If at any time after such
release, the Company achieves Springing Lien Status, the Loan Parties shall
promptly comply with Section
7.2(L)(i) and the previous
sentence shall thereafter cease to be in effect for the remaining term of this
Agreement. 

(v) Notwithstanding
anything to the contrary set forth herein, the Administrative Agent shall not
enter into any Mortgage in respect of any real property acquired by any Loan
Party after the Restatement Effective Date until the date that is (a) if such
Mortgage relates to a property not located in a “special flood hazard area”, ten
(10) Business Days or (b) if such Mortgage relates to a property located in a
“special flood hazard area”, thirty (30) days, after the Administrative Agent
has delivered to the Lenders the following documents in respect of such real
property: (i) a completed flood hazard determination from a third party vendor;
(ii) if such real property is located in a “special flood hazard area”, (A) a
notification to the applicable Loan Parties of that fact and (if applicable)
notification to the applicable Loan Parties that flood insurance coverage is not
available and (B) evidence of the receipt by the applicable Loan Parties of such
notice; and (iii) if required by applicable Flood Laws, evidence of required
flood insurance with respect to which flood insurance has been made available
under applicable Flood Laws; provided that any such Mortgage may be entered into
prior to such period expiring if the Administrative Agent shall have received
confirmation from each Lender that such Lender has completed any necessary flood
insurance due diligence to its reasonable satisfaction. 

85 

7.3. Negative Covenants.

(A) Indebtedness. The Company will not, and will not permit any of
its Subsidiaries to, directly or indirectly, create, incur, assume or suffer to
exist any Indebtedness, except for: 

(i) Permitted Existing
Indebtedness and Permitted Refinancing Indebtedness with respect thereto;

(ii) Obligations pursuant
to the Loan Documents; 

(iii) Indebtedness arising
from intercompany loans and advances owing by (a) the Company to any Subsidiary
or (b) by any Subsidiary to the Company or any other Subsidiary; provided, that all such Indebtedness owing by the Company or any Domestic
Subsidiary Guarantor to any Foreign Subsidiary shall be unsecured; 

(iv) Receivables Facility
Attributed Indebtedness arising in connection with a Permitted Domestic
Receivables Financing; 

(v) Indebtedness secured by
Liens permitted by Section
7.3(F)(xvi); 

(vi) Secured Indebtedness
of the Company or any Domestic Subsidiary Guarantor not otherwise permitted
under this Section
7.3(A) in an aggregate
outstanding principal amount not to exceed $25,000,000 at any time;

(vii) (a) Indebtedness of
any Foreign Subsidiary not otherwise permitted under this Section 7.3(A) and (b) Receivables Facility Attributed
Indebtedness arising in connection with Permitted Foreign Receivables
Financings; provided, that the sum of
(1) the outstanding principal amount of the Indebtedness incurred pursuant to
the foregoing clause
(a) plus (2) the amount of the Receivables Facility Attributed Indebtedness
incurred pursuant to the foregoing clause (b) shall not
exceed $300,000,000 at any time; 

(viii) Receivables Facility
Attributed Indebtedness arising in connection with Foreign Factoring
Transactions;

(ix) [Reserved]; and 

(x) Unsecured
Indebtedness  of the Company or any Domestic Subsidiary Guarantor not otherwise permitted  under this Section
7.3(A) in an aggregate  outstanding principal amount not to exceed
$200,000,000 (such amount, the  “Unsecured
Basket Base
Amount”) at any time from and  after the Restatement Effective Date
so long as, subject to the second proviso  below, such Indebtedness has a maturity date not sooner than six months after  the
later of (x) the latest Termination Date and (y) the latest Term Loan  Maturity Date (or any later maturity date then in
effect with respect to the  Loans); provided,
that Indebtedness in an amount in excess of the  Unsecured Basket Base Amount (subject to the aforementioned limitations on
maturity) may be incurred if, not less than five (5) Business Days prior to such  incurrence, the Company shall deliver to
the Administrative Agent and the  Lenders a certificate from a Designated Financial Officer demonstrating to the  reasonable
satisfaction of the Administrative Agent that after giving effect to such incurrence, on a  pro
forma basis acceptable to the Administrative Agent, as  if such incurrence had
occurred on the first day of the twelve-month period  ending on the last day of the Company’s most recently completed
fiscal quarter  for which financial statements are publicly available, the Interest Coverage  Ratio as of the end of such
fiscal quarter was equal to or greater than  2.00:1.00; provided, further,
that the limitations on maturity set forth above shall not apply to up  to $25,000,000 of Indebtedness in existence at any
time that has been incurred  pursuant to this Section
7.3(A)(x). 

86 

(B) Fundamental Changes. Without limiting the provisions of
Section 7.3(G), the Company will not, nor will it permit any
Subsidiary to, merge or consolidate with or into any other Person, or liquidate
or dissolve, except that: 

(i) Any Subsidiary may
merge or consolidate with the Company (provided, that the Company
shall be the surviving corporation), with the Subsidiary Borrower
(provided, that such Subsidiary Borrower shall be the
surviving entity) or with one or more other Subsidiaries (provided, that in the case of any such merger or consolidation involving any
Subsidiary Guarantor, the surviving entity shall be such Subsidiary Guarantor,
except that in the case of the merger of ArvinMeritor Sweden with and into
Meritor HVS AB, Meritor HVS AB may be the surviving entity);

(ii) The Company may merge
or consolidate with any other entity; provided, that the Company
shall be the surviving corporation and that after giving effect thereto no
Default or Unmatured Default shall exist and be continuing; and 

(iii) Any Subsidiary (other
than the Subsidiary Borrower) that is a shell company whose assets have been
disposed of in a manner permitted hereunder or that otherwise has no assets
(other than assets with a book value of less than one percent (1.0%) of the
Company’s Consolidated Assets, which assets shall be disposed of in a manner
permitted hereunder upon or promptly after such dissolution) or revenues may
liquidate or dissolve. 

(C) Sale of Assets. The Company will not, nor will it permit any
Subsidiary to, consummate any Asset Sale after the Closing Date other than an
Asset Sale which (i) is not for less than fair market value (as determined in
good faith by the management or board of directors of the Company or such
Subsidiary, as applicable), (ii) generates proceeds that, in the aggregate with
the proceeds of all such other Asset Sales during the then current fiscal year,
do not exceed fifteen percent (15%) of the aggregate book value of the Company’s
Consolidated Assets as of the end of the fiscal quarter immediately preceding
the initial Asset Sale consummated after the Closing Date and (iii) generates
proceeds that, in the aggregate with the proceeds of all such other Asset Sales
during the period from the Closing Date to the date of such proposed
transaction, do not exceed twenty-five percent (25%) of the aggregate book value
of the Company’s Consolidated Assets as of the end of the fiscal quarter
immediately preceding the initial Asset Sale consummated after the Closing Date.
Notwithstanding the foregoing, the proceeds of any such Asset Sales by the
Company or any Domestic Subsidiary Guarantor during the period from the Closing
Date to the date of such proposed transaction, to the extent permitted in the
foregoing sentence, shall not exceed seven and a half percent (7.5%) of the
aggregate book value of the Company’s
Consolidated Assets as of the end of the fiscal quarter immediately preceding
the initial Asset Sale consummated after the Closing Date.

87 

(D) Conduct of Business. The Company will not, nor will it permit any
Subsidiary to, engage in any business other than the businesses engaged in by
the Company or such Subsidiaries on the date hereof and any business or
activities which are reasonably similar, related or incidental thereto or
logical extensions thereof. 

(E) Investments. The Company will not, nor will it permit any Subsidiary to, make or
suffer to exist any Investments (including, without limitation, loans and
advances to, and other Investments in, Subsidiaries), or commitments therefor,
except: 

(i) Existing Investments in
Subsidiaries and other Investments in existence on the Restatement Effective
Date and described in Schedule
7.3(E), and any renewal or
extension of any such Investments that does not increase the amount of the
Investment being renewed or extended as determined as of such date of renewal or
extension; 

(ii) (a) Investments by the
Company or any Subsidiary in the Company or any Domestic Subsidiary Guarantor,
(b) Investments by any Foreign Subsidiary in the Subsidiary Borrower or any
Foreign Subsidiary Guarantor, (c) Investments by any Foreign Subsidiary
Non-Guarantor in any other Foreign Subsidiary Non-Guarantor, (d) Investments
permitted under Section
7.3(A)(iii), (e) Investments by
any Loan Party in Foreign Subsidiaries that are not Loan Parties from and after
the Restatement Effective Date in an outstanding amount not to exceed at any
time the sum of (1) $250,000,000 plus (2) the Foreign Reinvestment Amount at
such time, and (f) ArvinMeritor Limited, a Foreign Subsidiary Guarantor, may
sell, transfer or contribute its ownership interest in Meritor Heavy Vehicle
Systems Limited to a Foreign Subsidiary Non-Guarantor. 

(iii) Investments comprised
of capital contributions (whether in the form of cash, a note or other assets)
to an SPV or other Subsidiary or otherwise resulting from transfers of assets
permitted hereunder to such SPV or other Subsidiary, in either case, in
connection with a Permitted Receivables Financing; 

(iv) Investments
constituting Permitted Acquisitions; 

(v) Cash Equivalent
Investments; 

(vi) Investments in trade
receivables or received in connection with the bankruptcy or reorganization of
suppliers and customers and in settlement of delinquent obligations of, and
other disputes with, customers and suppliers arising in the ordinary course of
business; 

(vii) Investments
consisting of deposit accounts maintained by the Company and its Subsidiaries in
the ordinary course of business in connection with its cash management system;
and 

88

(viii) Investments (other
than any Investment of a type described in the foregoing clauses (i)-(vii)) made from and after the Restatement Effective
Date in an aggregate amount not to exceed $200,000,000 at any time.

For purposes of determining
the amount of any Investment outstanding at any time, such amount shall be
deemed to be the amount of such Investment when made, purchased or acquired
(without adjustment for subsequent increases or decreases in the value of such
Investment) less any amount realized in respect of such Investment upon the
sale, collection or return of capital (not to exceed the original amount
invested. 

(F) Liens. The Company will not, nor will it permit any Subsidiary to, create,
incur, or suffer to exist any Lien in, of or on the Property of the Company or
any of its Subsidiaries, except: 

(i) Liens on assets of the
Company and its Subsidiaries as of the Restatement Effective Date identified as
such on Schedule
7.3(F); 

(ii) Liens for taxes,
assessments or governmental charges or levies on its Property (excluding
Environmental Liens or Liens in favor of the PBGC) if (x) the same shall not at
the time be delinquent or thereafter can be paid without penalty, or are being
contested in good faith and by appropriate proceedings, and (y) adequate
reserves therefor are being maintained in accordance with Agreement Accounting
Principles;

(iii) Liens imposed by law,
such as carriers’, warehousemen’s and mechanics’ liens and other similar liens
arising in the ordinary course of business which secure payment of obligations
not more than 60 days past due; 

(iv) Liens arising out of
pledges or deposits under worker’s compensation laws, unemployment insurance,
old age pensions, or other social security or retirement benefits, or similar
legislation (excluding Liens in favor of the PBGC); 

(v) Utility easements,
building restrictions and such other encumbrances or charges against real
property as are of a nature generally existing with respect to properties of a
similar character and which do not in any material way affect the marketability
of the same or interfere with the use thereof in the business of the Company or
the Subsidiaries; 

(vi) Lessors’ interests
under Capitalized Leases; 

(vii) Judgment or other
similar Liens arising in connection with legal proceedings so long as (a) the
execution or other enforcement thereof is effectively stayed and the claims
secured thereby are being contested in good faith by appropriate proceedings and
the Company or such Subsidiary, as the case may be, has established appropriate
reserves against such claims in accordance with Agreement Accounting Principles
and (b) such Liens do not constitute a Default pursuant to Section 8.1(I); 

89 

(viii) Liens on assets of
the Company or any Domestic Subsidiary of the Company located in the United
States of America securing secured Indebtedness of the Company or such
Subsidiary otherwise permitted under Section 7.3(A)(vi);

(ix) Liens on Property
acquired after the Restatement Effective Date and existing at the time of such
acquisition (directly or indirectly) (other than any such Lien created in
contemplation of such acquisition); provided, that such Liens
shall extend only to the Property so acquired; 

(x) Liens on the Property
of a Person that is merged with or into the Company or a Subsidiary or of a
Person that becomes a Subsidiary after Restatement Effective Date (in each case
to the extent such merger, Acquisition or Investment is otherwise permitted by
this Agreement); provided, that (a) such
Liens existed at the time such Person was so merged or became a Subsidiary and
were not created in anticipation of any such transaction, (b) any such Lien does
not by its terms cover any additional property or assets acquired after the time
such Person was so merged or became a Subsidiary, and (c) any such Lien does not
by its terms secure any Indebtedness other than Indebtedness existing
immediately prior to the time such Person was so merged or became a Subsidiary;

(xi) Liens resulting from
the deposit of funds or evidences of Indebtedness in trust for the purpose of
defeasing Indebtedness of the Company or any Subsidiary; 

(xii) Bank setoff rights
arising in the ordinary course of business; 

(xiii) Deposits or Liens to
secure the performance (and not securing any Indebtedness) of statutory
obligations, surety and appeal bonds, performance bonds and other obligations of
like nature incurred in the ordinary course of business;

(xiv) Liens arising under
the Loan Documents; 

(xv) Liens on Receivables
and Related Security arising in connection with a Permitted Receivables
Financing or a Foreign Factoring Transaction; 

(xvi) Liens on any specific
fixed asset securing Indebtedness incurred or assumed for the purpose of
financing or refinancing all or any part of the cost of acquiring or
constructing such asset; provided, that such Lien
(a) extends only to the asset then being acquired or constructed and (b)
attaches to such asset concurrently with or within six (6) months after the
acquisition or completion or construction thereof; 

(xvii) Any extension,
renewal or replacement (or successive extension, renewal, or replacement) in
whole or in part, of any Lien referred to in the foregoing clauses (i) through (xvi) inclusive;
provided, however, that the
principal amount of Indebtedness secured thereby shall not exceed the principal
amount of Indebtedness so secured at the time of such extension, renewal or
replacement, and that such extension, renewal or replacement shall be limited to
all or a part of the property which secured the Lien so extended, renewed or
replaced (plus improvements on such property); 

90 

(xviii) Deposit
arrangements and pledges of cash or cash equivalents that secure only Hedging
Obligations otherwise permitted hereunder; and 

(xix) Liens on assets of
any Foreign Subsidiary of the Company located outside the United States of
America securing Indebtedness of such Subsidiary permitted under Section 7.3(A)(vii)(a);

provided, that the Company will not, and will not permit
any Subsidiary to, grant any Lien on any Property constituting Restricted
Collateral other than as security for the Secured Obligations pursuant to the
Loan Documents. 

In addition, neither the
Company nor any of its Subsidiaries shall be or become a party to any agreement,
note, indenture or other instrument, or take any other action, which would
prohibit the creation of, or require any equal and ratable sharing of, a Lien on
any of its properties or other assets in favor of the Agents, the Issuing Banks
and the Lenders, as collateral for the Secured Obligations; provided, that (a) any agreement, note, indenture or other instrument in
connection with purchase money Indebtedness (including Capitalized Leases)
permitted hereunder may prohibit the creation of a Lien in favor thereof on the
items of property obtained with the proceeds of such purchase money
Indebtedness, (b) the documents evidencing a Permitted Receivables Financing or
a Foreign Factoring Transaction may prohibit the creation of a Lien with respect
to all of the assets of the related SPV, if any, and with respect to the
Receivables and Related Security subject to such transaction in favor thereof as
collateral for the Secured Obligations and (c) each Senior Note Indenture may
prohibit the creation of a Lien on Restricted Collateral unless the holders of
the notes issued pursuant to such Senior Note Indenture shall be provided with
an equal and ratable Lien on such assets, but solely to the extent such
prohibition is provided for in such Senior Note Indenture as in effect on the
later of the Restatement Effective Date and the date of such Senior Note
Indenture. 

(G) Permitted Acquisitions. The Company will not, nor will it permit any
Subsidiary to, make any Acquisitions, other than Acquisitions meeting the
following requirements or otherwise approved by the Required Lenders (each such
Acquisition constituting a “Permitted Acquisition”):

(i) no Default or Unmatured
Default shall have occurred and be continuing or would result from such
Acquisition or the incurrence of any Indebtedness in connection therewith
(including, without limitation, pursuant to Section 7.2(K) or
(L)); 

(ii) each representation
and warranty contained in Article
VI shall be true and correct in
all material respects at the time of such Acquisition and after giving effect
thereto (unless such representation and warranty is made as of a specific date,
in which case, such representation and warranty shall be true and correct in all
material respects as of such date); and 

91 

(iii) not less than five
(5) Business Days prior to each such Acquisition, the Company shall deliver to
the Administrative Agent and the Lenders a certificate from a Designated
Financial Officer demonstrating to the reasonable satisfaction of the
Administrative Agent that after giving effect to such Acquisition and the
incurrence of any Indebtedness permitted hereunder in connection
therewith, on a pro forma basis acceptable to the Administrative Agent, but without giving effect
to any projected synergies resulting from such Acquisition, as if the
Acquisition and such incurrence of Indebtedness had occurred on the first day of
the twelve-month period ending on the last day of the Company’s most recently
completed fiscal quarter for which financial statements are publicly available,
the Company would have been in compliance with the covenants set forth in
Sections 7.3 and 7.4 and not otherwise in
Default;

(iv) in the case of an
Acquisition by the Company or the Subsidiary Borrower of Capital Stock of an
entity, (A) the acquired entity shall be a Subsidiary of the Company or (B)(x)
the acquired entity shall be merged with and into the Company or the Subsidiary
Borrower substantially concurrently with such Acquisition, with the Company or
the Subsidiary Borrower being the surviving corporation with voting control
following such merger and (y) such merger shall otherwise comply with
Section 7.3(B); and 

(v) the aggregate
consideration for such Acquisition, in the aggregate with the consideration for
all other Acquisitions consummated from and after the Restatement Effective
Date, shall not exceed the sum of (i) $100,000,000 plus (ii) an amount equal to
the net cash proceeds received by the Company or any Domestic Subsidiary on or
after the Restatement Effective Date from the divestiture of the Capital Stock
in, or assets of, any Foreign Subsidiary; provided, that the
foregoing dollar limitation in this clause (v) shall not apply
to Acquisitions where the direct purchaser of the acquired assets or Capital
Stock is the Company, a Domestic Subsidiary Guarantor or a Foreign Subsidiary
Guarantor so long as, in addition to complying with the other requirements of
Section 7.2(K) or Section 7.2(L), in the case of a purchase of Capital Stock of a
Person, the Applicable Pledge Percentage such Capital Stock shall be pledged in
favor of the Administrative Agent as Collateral. 

(H) Transactions with Affiliates and Joint
Ventures. Except for Permitted
Related Party Transactions and Permitted Strategic Transactions, the Company
will not, nor will it permit any Subsidiary to, enter into any transaction
(including, without limitation, the purchase or sale of any Property or service)
with, or make any payment or transfer to, any Affiliate or Joint Venture except
in the ordinary course of business and pursuant to the reasonable requirements
of the Company’s or such Subsidiary’s business and upon fair and reasonable
terms (taken as a whole) not materially less favorable to the Company or the
Company and its Subsidiaries (taken as a whole) than would occur in a comparable
arm’s length transaction. 

(I) Contingent Obligations. The Company will not, nor will it permit any
Subsidiary to, make or suffer to exist any Contingent Obligation (including,
without limitation, any Contingent Obligation with respect to the obligations of
a Subsidiary) in respect of any Indebtedness except in connection with
Indebtedness which if directly incurred by the Company or such Subsidiary, as
applicable, would not result in a violation of Sections 7.3(A) or 7.4. 

(J) Sale and Leaseback. The Company will not, nor will it permit any
Subsidiary to, sell or transfer any property in order to concurrently or
subsequently lease as lessee such or similar property unless (i) the related
sale is permitted under Section
7.3(C), (ii) any related
Investment is permitted under Section 7.3(E), (iii) no
Default or Unmatured Default shall have occurred and be continuing as of the date of such transaction
or would result therefrom and (iv) the Property subject to such sale does not
constitute Restricted Collateral. 

92

(K) Modifications to Other Indebtedness; No More
Favorable Terms; ArvinMeritor Receivables
Corporation.

(i) Subordinated Indebtedness. The Company will not, nor will it permit any
Subsidiary to, make any amendment or modification to any indenture, note or
other agreement evidencing or governing any subordinated Indebtedness (excluding
all Intercompany Indebtedness) or Disqualified Stock of the Company or its
Subsidiaries in a manner adverse to the Lenders. 

(ii) No More Favorable Terms. Without in any way limiting the foregoing
provisions of this Section
7.3(K) or the requirements set
forth in Section
7.2(K)(ii), the Company will not,
nor will it permit any Subsidiary to, enter into or amend, restate, supplement
or otherwise modify any indenture, note or other agreement evidencing or
governing any Indebtedness of the Company having a principal amount (whether or
not funded or committed) in excess of $50,000,000 or any Senior Note Indenture
that (a) contains any covenant binding on the Company or any Subsidiary or any
of their respective Property, (b) contains any event of default causing, or
permitting holders of such Indebtedness to cause, such Indebtedness to become
due prior to its stated maturity, or (c) requires the Company or any Subsidiary
to provide, or otherwise gives any holder of any such Indebtedness the benefit
of, a guaranty or collateral pledge that, in the case of any of the foregoing
clauses (a), (b) and (c), is (x) not substantially provided for in this Agreement or the other
Loan Documents or (y) is more favorable to the holder of such Indebtedness than
the comparable covenant, default, guaranty or collateral pledge set forth in the
Loan Documents (collectively, a “More Favorable Term”),
unless this Agreement and/or any relevant Loan Document shall be amended or
supplemented to provide substantially the same covenant, default, guaranty or
collateral pledge, as applicable, prior to the effectiveness of the More
Favorable Term, except for collateral pledges provided for in agreements
governing Indebtedness secured by Liens permitted under Sections 7.3(F) other than Section 7.3(F)(viii);
provided, that the foregoing shall not apply to the “Priority Debt Ratio” under
and as defined in the Receivables Purchase Agreement dated as of June 18, 2012
among ARC, the Company, the purchaser from time to time party thereto and PNC
Bank, National Association, as amended through the Restatement Effective Date
(but shall apply to any extension or renewal of, or any amendment or
modification of, such Priority Debt Ratio that is less favorable to the Company
and ARC than the formulation and level in effect on the Restatement Effective
Date). 

(iii) Senior Note Indentures. Neither the Company nor any Subsidiary shall be
a party to any Senior Note Indenture that contains a restriction on the creation
of Liens, or a requirement of equal and ratable sharing of Liens, if any, that
is more restrictive than the analogous provision of the 1998 Senior Note
Indenture, 2007 Convertible Note Indenture or the 2012 Convertible Note
Indenture. 

93 

(iv) ArvinMeritor Receivables
Corporation. The Company shall
not permit ARC (or any other SPV party to a Permitted Domestic Receivables
Securitization) to be designated as a “Restricted Subsidiary” under and as
defined in each Senior Note Indenture. 

(L) Restricted Payments. The Company will not, nor will it permit any
Subsidiary to, declare or make any Restricted Payment; provided, that: 

(i) so long as no Default
or Unmatured Default shall have occurred and be continuing at the date of
declaration or payment thereof (in the case of any dividend) or the date of such
repurchase (in the case of any share repurchase) or would result therefrom, the
Company may declare and pay cash dividends with respect to its Capital Stock and
repurchase shares of Capital Stock of the Company in accordance with its future
share repurchase program to the extent the sum of the aggregate amount of such
dividends and the aggregate purchase price of such repurchases shall not exceed
$40,000,000 in any fiscal year of the Company; 

(ii) in addition to the
foregoing,

(A) so long as no Default
or Unmatured Default shall have occurred and be continuing as of the date of
such repurchase or would result therefrom, the Company may repurchase shares of
Capital Stock of the Company in accordance with the Company’s future share
repurchase program in order to limit dilution thereof to the extent the
aggregate purchase price with respect to such repurchases shall not exceed
$25,000,000 during the term of this Agreement and

(B) the Company may
repurchase shares of Capital Stock of the Company on any date (the
“Repurchase
Date”) for a purchase price
not to exceed the following amount (if positive): 

	             
      	(1)	       	the lesser of (x) $210,000,000 and (y) the
      amount of the Company’s free cash flow (which shall mean the Company’s
      cumulative cash flow, taking into account cash flow generation and losses,
      provided by and used for operating activities minus (i) Capital Expenditures plus (ii) amounts not in excess of $100,000,000
      expended by the Company or its Subsidiaries to purchase an annuity to
      cover pension liabilities of a German Subsidiary of the Company), for the
      period commencing on June 30, 2014 through and including the last day of
      the most recently ended fiscal quarter prior to the Repurchase Date for
      which financial statements are publicly available,
	 			
		minus		
	 	
		(2)		the aggregate amount of any repurchases made
      pursuant to this Section 7.3(L)(ii)(B)
      immediately prior to the Repurchase
      Date;

94 

provided that in the case
of any such repurchase under this Section 7.3(L)(ii)(B), (I)
no Default or Unmatured Default shall have occurred and be continuing on the
date of such repurchase or would result therefrom, (II) the Company shall not
use proceeds of any Loans for any such repurchase; and (III) no such
repurchase shall be made unless as of the last day of the most recently ended
fiscal quarter prior to the Repurchase Date for which financial statements are
publicly available, and after giving effect to such repurchase on a pro forma
basis (as if such repurchase and all payments in connection therewith had
occurred on the last day of such fiscal quarter), the Company’s net debt (which
shall mean the Company’s total short term and long term debt plus the Company’s
pension assets, pension liability, retiree medical liability and other
retirement benefits minus the Company’s cash and Cash Equivalent Investments)
shall be less than $1,500,000,000; 

(iii) the Company shall be
permitted to repurchase, retire, redeem or defease any Indebtedness of the
Company permitted under this Agreement (other than subordinated Indebtedness)
with proceeds of any permitted capital markets debt (but, for the avoidance of
doubt, not with proceeds of any Loans under this Agreement), convertible debt,
equity or preferred equity issuances within one hundred twenty (120) days after
the Company’s receipt of such proceeds; 

(iv) the Company shall be
permitted to repurchase, retire, redeem or defease (a) the 4.0% Convertible
Notes, the 6.75% Senior Notes and the 7.875% Convertible Notes; or (b) any other
Senior Notes in an aggregate principal amount for this clause (b) from and after the Restatement Effective Date of up to $100,000,000;
provided, that in the case of any repurchase, retirement,
redemption or defeasance made pursuant to clause (a)
or (b) of this Section 7.3(L)(iv), (I) no
Default or Unmatured Default shall have occurred and be continuing at the time
of and immediately after giving effect to any such repurchase, retirement,
redemption or defeasance; and (II) the Company shall not use proceeds of any
Loans for any such repurchase, retirement, redemption or defeasance except that
the Company shall be permitted to use Loans in an aggregate amount of up to
$150,000,000 in the aggregate during the term of this Agreement in order to
effect any repurchase, retirement, redemption or defeasance under this
Section
7.3(L)(iv)(a) or (b), but subject to the Company’s demonstration of pro
forma covenant compliance with the Priority Debt Ratio
as a condition precedent to making any such Loans as more specifically described
in Section 5.2(E) hereof (in addition to satisfaction of all other
conditions precedent applicable to such Loans); and 

(v) the Company shall be
permitted to redeem any permitted Indebtedness in exchange for Capital Stock
(including preferred stock but excluding Disqualified Stock). 

(M) Hedging Obligations. The Company will not, nor will it permit any
Subsidiary to, enter into any Hedging Arrangement other than Hedging
Arrangements entered into by the Company or such Subsidiary pursuant to which
the Company or such Subsidiary has hedged its reasonably estimated interest
rate, foreign currency or commodity exposure and which are non-speculative in
nature. 

(N) Margin Regulations. The Company will not, nor will it permit any
Subsidiary to, use all or any portion of the proceeds of any credit extended
under this Agreement to purchase or carry Margin Stock. 

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(O) Restrictive Subsidiary Covenants. The Company will not, nor will it permit any
Subsidiary to, create or otherwise cause to become effective any consensual
encumbrance or restriction of any kind on the ability of any Subsidiary to pay
dividends or make any other distribution in respect of its ownership interests
or pay any Indebtedness or other Obligation owed to the Company or any other
Subsidiary, make loans or advances or other Investments in the Company or any
other Subsidiary, or sell, transfer or otherwise convey any of its property to
the Company or any other Subsidiary other than pursuant to (i) applicable law,
(ii) this Agreement or the other Loan Documents, (iii) restrictions imposed by
the holder of a Lien permitted by Section 7.3(F) and (iv)
restrictions imposed in a joint venture agreement on the ability of any
Subsidiary to pay dividends or make any other distribution in respect of its
ownership interests, the removal of which requires the consent of one or more of
the joint venture partners or the joint venture’s board of directors (but not
the consent of any third parties). 

(P) Disqualified Stock. The Company will not, and will not permit any
Subsidiary to, issue or permit to remain outstanding any Disqualified Stock.

7.4. Financial Covenants. 

(A) Priority Debt Ratio. The Company shall not permit its Priority Debt
Ratio, calculated on a consolidated basis for the Company and its Subsidiaries,
to exceed 2.25 to 1.00 as of the last day of each fiscal quarter. 

(B) Capital Expenditures. The Company shall not, and shall not permit any
of its Subsidiaries to, incur Capital Expenditures during any fiscal year in an
aggregate amount for the Company and its Subsidiaries in excess of the CapEx Cap
Amount with respect to such fiscal year. As used herein, “CapEx Cap Amount” means, with respect to any fiscal year,
$150,000,000; provided, that such amount
shall be increased by an amount equal to the excess, if any (but in no event
more than $75,000,000), of the CapEx Cap Amount for the previous fiscal year (as
calculated without giving effect to this proviso) over the actual amount of
Capital Expenditures incurred by the Company and its Subsidiaries during such
previous fiscal year. 

7.5. Canadian Tax Restructuring. Notwithstanding anything to the contrary in this
Article VII, the Company and its Subsidiaries may consummate
the internal restructuring (the “Canadian Tax
Restructuring”) of certain
Domestic Subsidiaries and certain Foreign Subsidiaries organized in Canada,
France and the United Kingdom, in accordance with the steps set forth on
Schedule 7.5 hereto, and any non-material deviations from such
steps so long as the Company delivers such Loan Documents, as are reasonably
required by the Loan Documents in order to comply with this Agreement. For
purposes of this Section
7.5, a “non-material” step or
deviation shall mean any step or deviation, as reasonably determined by the
Administrative Agent and the Company, from the steps outlined in Schedule 7.5 hereto, that does not reduce the amount of
security or recourse provided to the Lenders under the Loan Documents. In no
event shall such Canadian Tax Restructuring, if completed as described in this
Section 7.5, be deemed to constitute a Default or Unmatured
Default. 

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ARTICLE VIII: DEFAULTS

8.1. Defaults. Each of the following occurrences shall constitute a
“Default” under this Agreement: 

(A) Breach of Representation or
Warranty. Any written
representation or warranty made or deemed made by or on behalf of the Company or
its Subsidiaries to the Lenders or the Agents in any Loan Document, in
connection with any Loan or Letter of Credit, or in any certificate or
information delivered in writing in connection with any Loan Document shall be
false in any material respect on the date as of which made. 

(B) Failure to Make Payments When Due. Nonpayment of principal of any Loan or
Reimbursement Obligation when due; nonpayment of interest on any Loan,
commitment fees or L/C Fees, in each case within five days after the same
becomes due; or nonpayment of any other fees or any other obligations under any
of the Loan Documents within ten days after the same becomes due. 

(C) Breach of Certain Covenants. The breach by any Borrower of any of the terms
or provisions of Sections
7.1, 7.2(A), 7.2(B), 7.2(C), 7.2(K), 7.2(L), 7.3 or 7.4. 

(D) Other Defaults. The breach by any Borrower or any Subsidiary
Guarantor (other than a breach which constitutes a Default under another
provision of this Section
8.1) of any of the terms or
provisions of this Agreement or any other Loan Document which is not remedied
within 30 days after the earlier of (i) the date on which any Authorized Officer
has actual knowledge thereof and (ii) the receipt of written notice from any
Agent or the Required Lenders. 

(E) Default as to Other Indebtedness. Failure of the Company, the Subsidiary Borrower
or any other Subsidiary to pay when due, including to prepay or repurchase when
required, any Material Indebtedness; or the default by the Company, the
Subsidiary Borrower or any other Subsidiary in the performance of any term,
provision or condition contained in any Material Indebtedness Agreement, or any
other event shall occur or condition exist (other than the 4.0% Convertible
Notes Permitted Put or any 7.875% Convertible Notes Permitted Put), the effect
of which default, event or condition is to cause, or to permit the holder(s) of
such Material Indebtedness to cause such Material Indebtedness to become due
prior to its stated maturity; or any Material Indebtedness of the Company, the
Subsidiary Borrower or any other Subsidiary shall be declared to be due and
payable or required to be prepaid or repurchased (other than by a regularly
scheduled payment or pursuant to the 4.0% Convertible Notes Permitted Put or any
7.875% Convertible Notes Permitted Put) prior to the stated maturity thereof; or
the Company, the Subsidiary Borrower or any other Subsidiary shall not pay, or
admit in writing its inability to pay, its debts generally as they become due.

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(F) Voluntary Bankruptcy; Appointment of Receiver,
Etc. The Company or any of its
Subsidiaries (but excluding any Immaterial Subsidiary) shall (i) have an order
for relief entered with respect to it under the United States bankruptcy laws as
now or hereafter in effect or cause or allow any similar event to occur under
any bankruptcy or similar law or laws for the relief of debtors as now or
hereafter in effect in any other jurisdiction, (ii) make an assignment for the
benefit of creditors, (iii) apply for, seek, consent to, or acquiesce in, the
appointment of a receiver, custodian, trustee, examiner, liquidator,
monitor or similar official for it or any substantial part of its Property, (iv)
institute any proceeding seeking an order for relief under the United States
bankruptcy laws as now or hereafter in effect or seeking to adjudicate it a
bankrupt or insolvent, or seeking dissolution, winding up, liquidation,
reorganization, arrangement, adjustment or composition of it or any of its
Property or its debts under any law relating to bankruptcy, insolvency or
reorganization or compromise of debt or relief of debtors as now or hereafter in
effect in any jurisdiction including, without limitation, any organization,
arrangement or compromise of debt under the laws of its jurisdiction of
incorporation, or fail to file an answer or other pleading denying the material
allegations of any such proceeding filed against it, (v) take any corporate
action to authorize or effect any of the foregoing actions set forth in this
Section 8.1(F) or (vi) fail to contest in good faith any
appointment or proceeding described in Section 8.1(G).

(G) Involuntary Bankruptcy; Appointment of Receiver,
Etc. Without its application,
approval or consent, a receiver, trustee, examiner, liquidator or similar
official shall be appointed for the Company or any Subsidiary (but excluding any
Immaterial Subsidiary) or for any substantial part of its Property, or a
proceeding described in Section
8.1(F)(iv) shall be instituted
against the Company or any Subsidiary (but excluding any Immaterial Subsidiary)
and such appointment continues undischarged or such proceeding continues
undismissed or unstayed for a period of 60 consecutive days. 

(H) Condemnation; Seizure. Any court, government or governmental agency
shall condemn, seize or otherwise appropriate, or take custody or control of,
all or any substantial portion of the Property of the Company or any Subsidiary
(but excluding any Immaterial Subsidiary) taken as a whole. 

(I) Judgments. The Company, the Subsidiary Borrower or any other Subsidiary shall fail
within 30 days to pay, bond or otherwise discharge one or more judgments or
orders for the payment of money, the total amount of which for the Company, the
Subsidiary Borrower and/or any other Subsidiary exceeds $35,000,000, which are
not stayed on appeal. 

(J) Environmental. The Company or any of its Subsidiaries shall (i)
be the subject of any proceeding or investigation pertaining to the release by
the Company, any of its Subsidiaries or any other Person of any toxic or
hazardous waste or substance into the environment or (ii) violate any
Environmental Law, which, in the case of an event described in the foregoing
clause (i) or (ii), could reasonably be
expected to result in liability, individually or in the aggregate, having a
Material Adverse Effect. 

(K) Enforceability. Any Loan Document shall fail to remain in full
force or effect against the Company or any Subsidiary or any action shall be
taken or shall fail to be taken to discontinue or to assert the invalidity or
unenforceability of, or which results in the discontinuation or invalidity or
unenforceability of, any Loan Document. 

(L) Loan Party Revocation. Any Loan Party shall terminate or revoke any of
its obligations under a Loan Document (other than as expressly permitted
hereunder). 

(M) Change in Control. The occurrence of any Change in Control.

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(N) ERISA and Foreign Plans. The Company shall (i) permit any Benefit Plan to
fail to satisfy the “minimum funding standard” (as defined in Section 412 of the
Code or Section 302 of ERISA), whether or not waived, (ii) fail, or permit any
Controlled Group member to fail, to pay any required minimum required
contribution or required installment under Section 430(j) of the Code on or
before the due date for such contribution or installment , or (iii) permit a
Termination Event to occur, except where such transactions, events,
circumstances, or failures could not, individually or in the aggregate,
reasonably be expected to result in liability to the Company or any of its
Subsidiaries having a Material Adverse Effect. 

(O) Collateral. Any Collateral Document shall for any reason fail to create a valid and
perfected first priority security interest in any Collateral (with an aggregate
book value in excess of $10,000,000) purported to be covered thereby, which
failure is not remedied within five (5) days after the earlier of (i) the date
on which any Authorized Officer has actual knowledge thereof and (ii) the
receipt of written notice from any Agent or the Required Lenders. 

A Default shall be deemed
“continuing” until cured or until waived in writing in accordance with
Section 9.3. 

ARTICLE IX: ACCELERATION;
WAIVERS, AMENDMENTS AND REMEDIES 

9.1. Termination of Revolving Loan Commitments;
Acceleration.

(A) If any Default
described in Section
8.1(F) or 8.1(G) occurs, the obligations of the Revolving Loan Lenders to make Revolving
Loans hereunder and the obligation of the Issuing Banks to issue Letters of
Credit hereunder shall automatically terminate and the Obligations shall
immediately become due and payable without any election or action on the part of
the Administrative Agent, any Issuing Bank or any Lender and the Borrowers will
be and become thereby unconditionally obligated, without any further notice, act
or demand, to pay to the Administrative Agent an amount in each Agreed Currency,
in immediately available funds, equal to the difference of (x) one hundred five
percent (105%) of the amount of L/C Obligations denominated in such Agreed
Currency at such time, less (y) the amount of such Agreed Currency on deposit in
the L/C Collateral Account at such time which is free and clear of all rights
and claims of third parties and has not been applied against the Obligations
(such difference, in the aggregate for all Agreed Currencies, the
“Collateral Shortfall
Amount”), which funds shall
be held in the L/C Collateral Account. If any other Default occurs, (a) the
Administrative Agent may, and at the request of Required Revolving Loan Lenders
shall, terminate or suspend the obligations of the Revolving Loan Lenders to
make Revolving Loans hereunder and the obligation of the Issuing Banks to issue
Letters of Credit hereunder and (b) the Administrative Agent may, and at the
request of the Required Lenders shall, (i) declare the Obligations to be due and
payable, whereupon the Obligations shall become immediately due and payable,
without presentment, demand, protest or notice of any kind, all of which each
Borrower expressly waives, and (ii) upon notice to the Borrowers and in addition
to the continuing right to demand payment of all amounts payable under this
Agreement, make demand on the Borrowers to pay, and the Borrowers will,
forthwith upon such demand and without any further notice or act, pay to the
Administrative Agent the Collateral Shortfall Amount, which funds shall be
deposited in the L/C Collateral Account. 

99 

(B) If at any time while
any Default is continuing, the Administrative Agent determines that the
Collateral Shortfall Amount at such time is greater than zero, the
Administrative Agent may make demand on the Borrowers to pay, and the Borrowers
will, forthwith upon such demand and without any further notice or act, pay to
the Administrative Agent the Collateral Shortfall Amount, which funds shall be
deposited in the L/C Collateral Account. At any time while any Default is
continuing, none of the Borrowers nor any Person claiming on behalf of or
through any Borrower shall have any right to withdraw any of the funds held in
the L/C Collateral Account.

(C) If at any time
following any deposit of funds into the L/C Collateral Account pursuant to
clause (A) or (B) of this
Section 9.1 the Default giving rise to such obligation to
deposit cash collateral shall be cured, waived otherwise cease to be continuing
and no other Default or any Unmatured Default shall then have occurred and be
continuing, the Administrative Agent shall determine the Net Aggregate Revolving
Credit Exposure at such time and release and disburse funds from the L/C
Collateral Account to the Borrowers to the extent required pursuant to
Section 2.4(B)(ii). 

(D) If, after acceleration
of the maturity of the Obligations or termination of the obligations of the
Revolving Loan Lenders to make Revolving Loans and the obligation and power of
the Issuing Banks to issue Letters of Credit hereunder as a result of any
Default (other than any Default as described in Section 8.1(F) or (G)) and before any
judgment or decree for the payment of the Obligations due shall have been
obtained or entered, the Required Lenders (in the case of any such acceleration)
or Required Revolving Loan Lenders (in the case of any such termination) (in
each case, in their sole discretion) shall so direct, the Administrative Agent
shall, by notice to the Borrowers, rescind and annul such acceleration and/or
termination. 

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

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9.3. Amendments; Waivers.

(A) Subject to the
provisions of this Article
IX, the Required Lenders (or the
Administrative Agent with the consent in writing of the Required Lenders) and
the Company may enter into agreements supplemental hereto for the purpose of
adding or modifying any provisions to the Loan Documents or changing in any
manner the rights of the Lenders or the Company hereunder or waiving any Default
hereunder; provided, however, that, except as provided in
Section 2.23 or 2.24 and subject to
Section 9.3(B) through (D) below, no such
supplemental agreement shall: 

(i) Postpone or extend the
Revolving Loan Termination Date, the Term Loan Maturity Date or any other date
fixed for any payment of principal of, or interest on, the Loans, the
Reimbursement Obligations or any fees or other amounts payable to such Lender or
extend the expiry date of any Letter of Credit to a date after the Revolving
Loan Termination Date without the written consent of each Lender directly
affected thereby; 

(ii) Reduce the principal
amount, or amortization, of any Loans or Reimbursement Obligations, or reduce
the rate or extend the time of payment of interest or fees thereon without the
written consent of each Lender directly affected thereby; provided, however, that (a) modifications to the provisions
relating to prepayments of Loans and other Obligations and (b) a waiver or other
modification of the application of the default rate of interest pursuant to
Section 2.10 hereof shall, in each case, only require the
approval of the Required Lenders; 

(iii) Reduce the percentage
specified in the definition of Required Lenders, Required Revolving Loan Lenders
or any other percentage of Lenders specified to be the applicable percentage in
this Agreement to act on specified matters or amend the definitions of “Required
Lenders”, “Required Revolving Loan Lenders” or “Pro Rata Share” without the
written consent of each Lender; 

(iv) Increase the amount of
the Revolving Loan Commitment or Term Loan Commitment of any Lender hereunder
without the written consent of such Lender; 

(v) Permit any Borrower to
assign its rights under this Agreement without the written consent of each
Lender; 

(vi) Other than pursuant to
a transaction permitted by the terms of this Agreement, release any guarantor
from its obligations under its respective Guaranty or release all or
substantially all of the Collateral without the written consent of each
Lender;

(vii) change
Section 12.2 or 12.4 in a manner that
would alter the pro rata sharing of payments required thereby without the
written consent of each Lender; or 

(viii) Amend this
Section 9.3 without the written consent of each Lender.

No amendment of any
provision of this Agreement relating to (a) the Administrative Agent shall be
effective without the written consent of the Administrative Agent, and (b) any
Issuing Bank shall be effective without the written consent of such Issuing
Bank. The Administrative Agent may waive payment of the fee required under
Section 13.3(C) without obtaining the consent of any of the
Lenders.

101 

(B) Notwithstanding the
foregoing, this Agreement and any other Loan Document may be amended (or amended
and restated) with the written consent of the Required Lenders, the
Administrative Agent and the Borrowers (x) to add one or more credit
facilities (in addition to the Incremental Term Loans pursuant to
Section 2.23) to this Agreement and to permit extensions of
credit from time to time outstanding thereunder and the accrued interest and
fees in respect thereof to share ratably in the benefits of this Agreement and
the other Loan Documents with the Revolving Loans, Incremental Term Loans and
the accrued interest and fees in respect thereof and (y) to include
appropriately the Lenders holding such credit facilities in any determination of
the Required Lenders and Lenders. 

(C) Notwithstanding the
foregoing, no consent with respect to any amendment, waiver or other
modification of this Agreement shall be required of any Defaulting Lender,
except with respect to any amendment, waiver or other modification referred to
in clause (i), (ii) or (iv) of the first proviso of this paragraph and then only in the event such
Defaulting Lender shall be directly affected by such amendment, waiver or other
modification. 

(D) Notwithstanding
anything to the contrary herein the Administrative Agent may, with the consent
of the Borrowers only, amend, modify or supplement this Agreement or any of the
other Loan Documents to cure any ambiguity, omission, mistake, defect or
inconsistency. The Lenders shall be provided executed copies of any such
amendment, modification or supplement. 

ARTICLE X: GENERAL
PROVISIONS 

10.1. Survival of Representations. All representations and warranties of the
Company contained in this Agreement shall survive delivery of this Agreement and
the making of the Loans herein contemplated so long as any principal, accrued
interest, fees, or any other amount due and payable under any Loan Document is
outstanding and unpaid (other than contingent reimbursement and indemnification
obligations). 

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

10.3. Accounting. Except as provided to the contrary herein, all accounting terms used in
the calculation of any financial covenant or test shall be interpreted and all
accounting determinations hereunder in the calculation of any financial covenant
or test shall be made in accordance with Agreement Accounting Principles. If,
subsequent to the Restatement Effective Date, any changes in generally accepted
accounting principles as in effect in the United States of America are required
or permitted and are adopted by the Company or any of its Subsidiaries with the
agreement of its independent certified public accountants and such changes
result in a change in the method of calculation of any of the financial
covenants set forth in Section
7.4 or any other financial test
set forth in this Agreement or in the related definitions or terms used therein
(“Accounting
Changes”), the parties hereto
agree, at the Company’s request, to enter into negotiations, in good faith, in
order to amend such provisions in a credit neutral manner so as to reflect
equitably such changes with the desired result that the criteria for evaluating
the Company’s and its Subsidiaries’ financial condition shall be the same after
such changes as if such changes had not been made; provided, however, that until such provisions are amended in a
manner reasonably satisfactory to the Administrative Agent and the Required
Lenders, no Accounting Change shall be given effect in such calculations. In the
event such amendment is entered into, all
references in this Agreement to Agreement Accounting Principles in connection
with the financial covenants set forth in Section 7.4 and each other
financial test set forth in this Agreement shall mean generally accepted
accounting principles as in effect in the United States of America as of the
Restatement Effective Date but giving effect to the relevant Accounting Changes,
subject to further modification in accordance with this Section 10.3. Notwithstanding any other provision contained
herein (including the definition of Agreement Accounting Principles), all terms
of an accounting or financial nature used herein shall be construed, and all
computations of amounts and ratios referred to herein shall be made, (i) without
giving effect to any election under Accounting Standards Codification 825-10-25
(or any other Accounting Standards Codification or Financial Accounting Standard
having a similar result or effect) to value any Indebtedness or other
liabilities of the Company or any Subsidiary at “fair value”, as defined
therein, (ii) without giving effect to any treatment of indebtedness in respect
of convertible debt instruments under Accounting Standards Codification 470-20
(or any other Accounting Standards Codification or Financial Accounting Standard
having a similar result or effect) to value any such indebtedness in a reduced
or bifurcated manner as described therein, and such indebtedness shall at all
times be valued at the full stated principal amount thereof and (iii) without
giving effect to any changes in GAAP resulting from implementation pursuant to
the final standards for Leases (Topic 842) released on February 25, 2016 by the
Financial Accounting Standards Board. For the avoidance of doubt, the foregoing
statement shall apply only to treatment of financial concepts in this Agreement
(including determinations of Indebtedness and the calculation of the financial
covenants) and not to the manner in which the Company prepares its financial
statements (it being understood that appropriate adjustments shall be made for
purposes of the Compliance Certificate or any other demonstration or
determination of compliance with the applicable provisions of this
Agreement).

102 

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

10.5. Entire Agreement. The Loan Documents embody the entire agreement
and understanding among the Borrowers, the Administrative Agent and the Lenders
and supersede all prior agreements and understandings among the Borrowers, the
Administrative Agent and the Lenders relating to the subject matter thereof
other than any prior agreements and understandings that are expressly stated to
survive the effectiveness hereof. 

10.6. Several Obligations; Benefits of this
Agreement. The respective
obligations of the Lenders hereunder are several and not joint and no Lender
shall be the partner or agent of any other Lender (except to the extent to which
the Administrative Agent is authorized to act as such). The failure of any
Lender to perform any of its obligations hereunder shall not relieve any other
Lender from any of its obligations hereunder. This Agreement shall not be
construed so as to confer any right or benefit upon any Person other than the
parties to this Agreement and their respective successors and assigns.

10.7. Expenses; Indemnification. 

(A) Expenses. The Borrowers shall reimburse the Administrative Agent and the
Arrangers for any reasonable costs and out-of-pocket expenses (including
reasonable fees and expenses of one primary
counsel and one additional local counsel in each applicable jurisdiction for the
Administrative Agent, and additional counsels in light of actual or potential
conflicts of interest or the availability of different claims or defenses) paid
or incurred by the Administrative Agent or the Arrangers in connection with the
preparation, negotiation, execution, delivery, syndication, review, amendment,
modification, distribution (including, without limitation, via the internet) and
administration of the Loan Documents, including (without limiting the generality
of the foregoing), consultant’s fees and expenses (provided, so long as no
Default or Unmatured Default has occurred and is continuing, such consultant is
engaged with the consent of the Company). The Borrowers also agree to reimburse
the Administrative Agent, the Arrangers and the Lenders for any reasonable costs
and out-of-pocket expenses (including reasonable attorneys’ and paralegals’ fees
and time charges of outside counsel and paralegals for the Administrative Agent,
the Arrangers and the Lenders) paid or incurred by the Administrative Agent, the
Arrangers or any Lender in connection with the collection of the Secured
Obligations and protection of rights under, and enforcement of, the Loan
Documents, including any such expenses incurred during any workout,
restructuring or negotiations in respect of any of the Secured Obligations.

103 

(B) Indemnity. The Borrowers further agree to defend, protect, indemnify and hold
harmless the Administrative Agent, any Co-Syndication Agent, each Arranger, each
Lender and each Issuing Bank and each of their respective Affiliates, and each
of such Agents’, Arrangers’, Lenders’, Issuing Banks’ and Affiliates’ respective
officers, directors, trustees, investment advisors, employees, attorneys and
agents (collectively, the “Indemnitees”), based
upon its obligations, from and against any and all liabilities, obligations,
losses, damages, penalties, actions, judgments, suits, claims, costs, expenses
of any kind or nature whatsoever (including, without limitation, the fees and
disbursements of outside counsel for such Indemnitees in connection with any
investigative, administrative or judicial proceeding, whether or not such
Indemnitees shall be designated a party thereto), imposed on, incurred by or
asserted against such Indemnitees in any manner relating to or arising out of
this Agreement or any of the other Loan Documents, or any act, event or
transaction related or attendant thereto or to the making of the Loans, and the
issuance of and participation in Letters of Credit hereunder, the management of
such Loans or Letters of Credit, the use or intended use of the proceeds of the
Loans or Letters of Credit hereunder, or any of the other transactions
contemplated by the Loan Documents, or any liabilities, obligations,
responsibilities, losses, damages, personal injury, death, punitive damages,
economic damages, consequential damages, treble damages, intentional, willful or
wanton injury, damage or threat to the environment, natural resources or public
health or welfare, costs and expenses (including, without limitation, attorney,
expert and consulting fees and costs of investigation, feasibility or remedial
action studies), fines, penalties and monetary sanctions, interest, direct or
indirect, known or unknown, absolute or contingent, past, present or future
relating to violation of any Environmental Laws arising from or in connection
with the past, present or future operations of the Company, its Subsidiaries or
any of their respective predecessors in interest, or, the past, present or
future environmental, health or safety condition of any respective property of
the Company or its Subsidiaries, the presence of asbestos-containing materials
at any respective property of the Company or its Subsidiaries or the Release or
threatened Release of any Contaminant into the environment (collectively, the
“Indemnified Matters”); provided, however, the Borrowers shall not have any obligation to an Indemnitee hereunder
with respect to Indemnified Matters to the extent found in a final
non-appealable judgment by a court of competent jurisdiction to have arisen from
the willful misconduct or gross negligence
of such Indemnitee with respect to the Loan Documents. If the undertaking to
indemnify, pay and hold harmless set forth in the preceding sentence may be
unenforceable because it is violative of any law or public policy, each Borrower
shall contribute the maximum portion which it is permitted to pay and satisfy
under applicable law, to the payment and satisfaction of all Indemnified Matters
incurred by the Indemnitees. 

104 

(C) Waiver of Certain Claims; Settlement of
Claims. Each Borrower further
agrees to assert no claim against any of the Indemnitees on any theory of
liability seeking consequential, special, indirect, exemplary or punitive
damages. No settlement shall be entered into by the Company or any of its
Subsidiaries with respect to any claim, litigation, arbitration or other
proceeding relating to or arising out of the transactions evidenced by this
Agreement and the other Loan Documents unless such settlement releases all
Indemnitees from any and all liability with respect thereto. 

(D) Survival of Agreements. The obligations and agreements of the Borrowers
under this Section
10.7 and each other provision
hereunder or in any other Loan Document whereby the Company or any of its
Subsidiaries agrees to reimburse or indemnify any Holder of Secured Obligations
shall survive the termination of this Agreement. 

10.8. Numbers of Documents. All statements, notices, closing documents and
requests hereunder (other than (i) notices described in the first sentence of
Section 2.15 and (ii) notices and other communications
delivered to the Administrative Agent and the Lenders by electronic
communication in accordance with Section 14.1(B)) shall be
furnished to the Administrative Agent with sufficient counterparts so that the
Administrative Agent may furnish one to each of the Lenders. 

10.9. Confidentiality. Each Lender agrees to hold any confidential
information which it may receive from the Company or any of its Subsidiaries
pursuant to this Agreement in confidence, except for disclosure (i) to its
Affiliates and to other Lenders and their respective Affiliates, (ii) to legal
counsel, accountants and other professional advisors to such Lender or to a
Transferee, (iii) to regulatory officials, (iv) to any Person as requested
pursuant to or as required by law, regulation or legal process, (v) to any
Person as may be required by law in connection with any legal proceeding to
which such Lender is a party, (vi) to such Lender’s direct or indirect
contractual counterparties in interest rate swap agreements or credit derivative
transactions relating to the Loans or to legal counsel, accountants and other
professional advisors to such counterparties or to any credit insurance
providers relating to the Borrowers and their obligations, (vii) as permitted by
Section 13.4, (viii) to rating agencies if requested or
required by such agencies in connection with a rating relating to the Advances
hereunder, (x) to the extent such information (1) becomes publicly available
other than as a result of a breach of this Section 10.9 or (2) becomes available
to the Administrative Agent, any Issuing Bank or any lender on a
non-confidential basis from a source other than the Company or any of its
Subsidiaries or (x) with the consent of the Company. 

105

EACH LENDER ACKNOWLEDGES
THAT CONFIDENTIAL INFORMATION FURNISHED TO IT PURSUANT TO THIS AGREEMENT MAY
INCLUDE MATERIAL NON-PUBLIC INFORMATION CONCERNING THE COMPANY AND ITS RELATED
PARTIES OR THEIR RESPECTIVE SECURITIES, AND CONFIRMS THAT IT HAS
DEVELOPED COMPLIANCE PROCEDURES REGARDING THE USE OF MATERIAL
NON-PUBLIC INFORMATION AND THAT IT WILL HANDLE SUCH MATERIAL NON-PUBLIC
INFORMATION IN ACCORDANCE WITH THOSE PROCEDURES AND APPLICABLE LAW, INCLUDING
FEDERAL AND STATE SECURITIES LAWS. 

ALL INFORMATION,
INCLUDING REQUESTS FOR WAIVERS AND AMENDMENTS, FURNISHED BY THE COMPANY OR THE
ADMINISTRATIVE AGENT PURSUANT TO, OR IN THE COURSE OF ADMINISTERING, THIS
AGREEMENT WILL BE SYNDICATE-LEVEL INFORMATION, WHICH MAY CONTAIN MATERIAL
NON-PUBLIC INFORMATION ABOUT THE COMPANY AND ITS AFFILIATES, THE LOAN PARTIES
AND THEIR RELATED PARTIES OR THEIR RESPECTIVE SECURITIES) AND ITS SECURITIES.
ACCORDINGLY, EACH LENDER REPRESENTS TO THE COMPANY AND THE ADMINISTRATIVE AGENT
THAT IT HAS IDENTIFIED IN ITS ADMINISTRATIVE QUESTIONNAIRE A CREDIT CONTACT WHO
MAY RECEIVE INFORMATION THAT MAY CONTAIN MATERIAL NON-PUBLIC INFORMATION IN
ACCORDANCE WITH ITS COMPLIANCE PROCEDURES AND APPLICABLE LAW. 

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

10.11. Nonliability of Lenders. The relationship between the Borrowers and the
Lenders and the Administrative Agent shall be solely that of borrowers and
lender. Neither the Administrative Agent nor any Lender shall have any fiduciary
responsibilities to the Borrowers. Neither the Administrative Agent nor any
Lender undertakes any responsibility to the Borrowers to review or inform the
Borrowers of any matter in connection with any phase of the Borrowers’ business
or operations. 

10.12. GOVERNING LAW. ANY DISPUTE BETWEEN THE BORROWERS AND THE ADMINISTRATIVE AGENT, THE
ARRANGERS OR ANY LENDER ARISING OUT OF, CONNECTED WITH, RELATED TO OR INCIDENTAL
TO THE RELATIONSHIP ESTABLISHED AMONG THE BORROWERS AND THE ADMINISTRATIVE
AGENT, THE ARRANGERS OR THE LENDERS IN CONNECTION WITH, THIS AGREEMENT OR ANY OF
THE OTHER LOAN DOCUMENTS, AND WHETHER ARISING IN CONTRACT, TORT, EQUITY, OR
OTHERWISE, SHALL BE RESOLVED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW
YORK.

106 

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

(B) SERVICE OF PROCESS.

(i) EACH BORROWER WAIVES PERSONAL SERVICE OF ANY
PROCESS UPON IT AND IRREVOCABLY CONSENTS TO THE SERVICE OF PROCESS OF ANY WRITS,
PROCESS OR SUMMONSES IN ANY SUIT, ACTION OR PROCEEDING BY THE MAILING THEREOF BY
THE ADMINISTRATIVE AGENT OR THE LENDERS BY REGISTERED OR CERTIFIED MAIL, POSTAGE
PREPAID, TO THE COMPANY ADDRESSED AS PROVIDED HEREIN. NOTHING HEREIN SHALL IN
ANY WAY BE DEEMED TO LIMIT THE ABILITY OF THE ADMINISTRATIVE AGENT OR THE
LENDERS TO SERVE ANY SUCH WRITS, PROCESS OR SUMMONSES IN ANY OTHER MANNER
PERMITTED BY APPLICABLE LAW. 

(ii) THE SUBSIDIARY BORROWER HEREBY IRREVOCABLY
APPOINTS THE COMPANY AS ITS AGENT FOR SERVICE OF PROCESS IN ANY PROCEEDING
REFERRED TO IN THIS SECTION
10.13 AND AGREES THAT
SERVICE OF PROCESS IN ANY SUCH PROCEEDING MAY BE MADE BY MAILING OR DELIVERING A
COPY THEREOF TO IT CARE OF THE COMPANY AT ITS ADDRESS FOR NOTICES SET FORTH IN
ARTICLE
XIV OF THIS
AGREEMENT.

(C) WAIVER OF JURY TRIAL. EACH OF THE PARTIES HERETO IRREVOCABLY WAIVES ANY RIGHT TO HAVE A JURY
PARTICIPATE IN RESOLVING ANY DISPUTE, WHETHER SOUNDING IN CONTRACT, TORT, OR
OTHERWISE, ARISING OUT OF, CONNECTED WITH, RELATED TO OR INCIDENTAL TO THE
RELATIONSHIP ESTABLISHED AMONG THEM IN CONNECTION WITH THIS AGREEMENT OR ANY
OTHER INSTRUMENT, DOCUMENT OR AGREEMENT EXECUTED OR DELIVERED IN CONNECTION
HEREWITH. EACH OF THE PARTIES HERETO AGREES AND CONSENTS THAT ANY SUCH CLAIM,
DEMAND, ACTION OR CAUSE OF ACTION SHALL BE DECIDED BY COURT TRIAL WITHOUT A JURY
AND THAT ANY PARTY HERETO MAY FILE AN ORIGINAL COUNTERPART OR A COPY OF THIS
AGREEMENT WITH ANY COURT AS WRITTEN
EVIDENCE OF THE CONSENT OF THE PARTIES HERETO TO THE WAIVER OF THEIR RIGHT TO
TRIAL BY JURY.

107 

10.14. Subordination of Intercompany
Indebtedness. Each Borrower
agrees that all Intercompany Indebtedness held by such Borrower shall be
subordinate and subject in right of payment to the prior payment, in full and in
cash, of all Secured Obligations; provided, that, and not in
contravention of the foregoing, so long as no Default has occurred and is
continuing such Borrower may make loans to and receive payments in the ordinary
course with respect to such Intercompany Indebtedness from the related obligor.
Notwithstanding any right of any Borrower to ask, demand, sue for, take or
receive any payment from any obligor on such Intercompany Indebtedness (an
“Obligor”), all rights, liens and security interests of
such Borrower, whether now or hereafter arising and howsoever existing, in any
assets of any other Obligor shall be and are subordinated to the rights of the
Holders of Secured Obligations and the Administrative Agent in those assets. No
Borrower shall have any right to possession of any such asset or to foreclose
upon any such asset, whether by judicial action or otherwise, prior to the
satisfaction of all of the Secured Obligations (other than contingent indemnity
obligations) and the termination of all financing arrangements pursuant to any
Loan Document or Hedging Agreement among the Borrowers and the Lenders (and
their Affiliates). If all or any part of the assets of any Obligor, or the
proceeds thereof, are subject to any distribution, division or application to
the creditors of such Obligor, whether partial or complete, voluntary or
involuntary, and whether by reason of liquidation, bankruptcy, arrangement,
receivership, assignment for the benefit of creditors or any other action or
proceeding, or if the business of any such Obligor is dissolved or if
substantially all of the assets of any such Obligor are sold, then, and in any
such event (such events being herein referred to as an “Insolvency Event”), any payment or distribution of any kind or
character, either in cash, securities or other property, which shall be payable
or deliverable upon or with respect to any Intercompany Indebtedness shall be
paid or delivered directly to the Administrative Agent for application on any of
the Secured Obligations, due or to become due, until all of the Secured
Obligations (other than contingent indemnity obligations) shall have been
satisfied in full and all financing arrangements pursuant to any Loan Document
or Hedging Agreement among the Borrowers and the Lenders (and their Affiliates)
shall have been terminated. Should any payment, distribution, security or
instrument or proceeds thereof be received by such Borrower upon or with respect
to the Intercompany Indebtedness in contravention of this Agreement after the
occurrence of a Default, including, without limitation, an event described in
Section 8.1(F) or (G), prior to the
satisfaction of all of the Secured Obligations (other than contingent indemnity
obligations) and the termination of all financing arrangements pursuant to any
Loan Document or Hedging Agreement among the Borrowers and the Lenders (and
their Affiliates), such Borrower shall receive and hold the same in trust, as
trustee, for the benefit of the Holders of Secured Obligations and shall
forthwith deliver the same to the Administrative Agent, for the benefit of such
Persons, in precisely the form received (except for the endorsement or
assignment of the Borrowers where necessary), for application to any of the
Secured Obligations, due or not due, and, until so delivered, the same shall be
held in trust by such Borrower as the property of the Holders of Secured
Obligations. If any Borrower fails to make any such endorsement or assignment to
the Administrative Agent, the Administrative Agent or any of its officers or
employees are irrevocably authorized to make the same. Each Borrower agrees that
until the Secured Obligations (other than the contingent indemnity obligations)
have been paid in full (in cash) and satisfied and all financing arrangements
pursuant to any Loan Document or Hedging Agreement among the Borrowers and the Lenders (and their Affiliates) have been
terminated, no Borrower will assign or transfer to any Person any Intercompany
Indebtedness. Notwithstanding the foregoing, no action or omission contemplated
by this Section
10.14 shall be permitted or
required to the extent such action or omission would cause a Deemed Dividend
Problem. 

108 

10.15. Performance of Obligations. Each Borrower agrees that the Administrative
Agent may, but shall have no obligation to (i) at any time, pay or discharge
taxes, liens, security interests or other encumbrances levied or placed on or
threatened against any Collateral and (ii) after the occurrence and during the
continuance of a Default make any other payment or perform any act required of
any Loan Party under any Loan Document or take any other action which the
Administrative Agent in its discretion deems necessary or desirable to protect
or preserve the Collateral, including, without limitation, any action to (y)
effect any repairs or obtain any insurance called for by the terms of any of the
Loan Documents and to pay all or any part of the premiums therefor and the costs
thereof and (z) pay any rents payable by any Loan Party which are more than 30
days past due, or as to which the landlord has given notice of termination,
under any lease. The Administrative Agent shall use its best efforts to give the
Company notice of any action taken under this Section 10.15 prior to the taking of such action or promptly
thereafter provided the failure to give such notice shall not affect any Loan
Party’s obligations in respect thereof. Each Borrower agrees to pay the
Administrative Agent, upon demand, the principal amount of all funds advanced by
the Administrative Agent under this Section 10.15, together
with interest thereon at the rate from time to time applicable to Floating Rate
Loans from the date of such advance until the outstanding principal balance
thereof is paid in full. If any Borrower fails to make payment in respect of any
such advance under this Section
10.15 within one (1) Business Day
after the date the Company receives written demand therefor from the
Administrative Agent, the Administrative Agent shall promptly notify each Lender
and each Lender agrees that it shall thereupon make available to the
Administrative Agent, in Dollars in immediately available funds, the amount
equal to such Lender’s Pro Rata Share of such advance. If such funds are not
made available to the Administrative Agent by such Lender within one (1)
Business Day after the Administrative Agent’s demand therefor, the
Administrative Agent will be entitled to recover any such amount from such
Lender together with interest thereon at the Federal Funds Effective Rate for
each day during the period commencing on the date of such demand and ending on
the date such amount is received. The failure of any Lender to make available to
the Administrative Agent its Pro Rata Share of any such unreimbursed advance
under this Section
10.15 shall neither relieve any
other Lender of its obligation hereunder to make available to the Administrative
Agent such other Lender’s Pro Rata Share of such advance on the date such
payment is to be made nor increase the obligation of any other Lender to make
such payment to the Administrative Agent. All outstanding principal of, and
interest on, advances made under this Section 10.3 shall
constitute Secured Obligations secured by the Collateral until paid in full by
the Borrowers. 

10.16. Acknowledgment and Consent to Bail-In of EEA
Financial Institutions.

Notwithstanding anything to
the contrary in any Loan Document or in any other agreement, arrangement or
understanding among any such parties thereto, each party hereto acknowledges
that any liability of any EEA Financial Institution arising under any Loan
Document, to the extent such liability is unsecured, may be subject to the
Write-Down and Conversion Powers of an EEA
Resolution Authority and agrees and consents to, and acknowledges and agrees to
be bound by: 

109 

(A) the application of any
Write-Down and Conversion Powers by an EEA Resolution Authority to any such
liabilities arising hereunder which may be payable to it by any party hereto
that is an EEA Financial Institution; and 

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

(i) a reduction in full or
in part or cancellation of any such liability; 

(ii) a conversion of all,
or a portion of, such liability into shares or other instruments of ownership in
such EEA Financial Institution, its parent undertaking, or a bridge institution
that may be issued to it or otherwise conferred on it, and that such shares or
other instruments of ownership will be accepted by it in lieu of any rights with
respect to any such liability under this Agreement or any other Loan Document;
or 

(iii) the variation of the
terms of such liability in connection with the exercise of the Write-Down and
Conversion Powers of any EEA Resolution Authority. 

ARTICLE XI: THE
ADMINISTRATIVE AGENT 

11.1. Appointment; Nature of
Relationship. JPMCB is appointed
by the Lenders as the Administrative Agent hereunder and under each other Loan
Document, and each of the Lenders irrevocably authorizes the Administrative
Agent to act as the contractual representative of such Lender with the rights
and duties expressly set forth herein and in the other Loan Documents. The
Administrative Agent agrees to act as such contractual representative upon the
express conditions contained in this Article XI.
Notwithstanding the use of the defined term “Administrative Agent,” it is
expressly understood and agreed that the Administrative Agent shall not have any
fiduciary responsibilities to any Lender by reason of this Agreement and that
the Administrative Agent is merely acting as the representative of the Lenders
with only those duties as are expressly set forth in this Agreement and the
other Loan Documents. In its capacity as the Lenders’ contractual
representative, the Administrative Agent (i) does not assume any fiduciary
duties to any of the Lenders, (ii) is a “representative” of the Lenders within
the meaning of the Uniform Commercial Code as in effect from time to time in the
State of New York (or any successor provision), (iii) is acting as an
independent contractor, the rights and duties of which are limited to those
expressly set forth in this Agreement and the other Loan Documents and (iv)
except as expressly set forth herein, shall not have any duty to disclose, and
shall not be liable for the failure to disclose, any information relating to the
Company or any of its Subsidiaries that is communicated to or obtained by the
bank serving as Administrative Agent or any of its Affiliates in any capacity.
Each of the Lenders, for itself and on behalf of its affiliates, agrees to
assert no claim against the Administrative Agent on any agency theory or any
other theory of liability for breach of fiduciary duty, all of which claims each
Lender waives. 

110 

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

11.3. General Immunity. Neither the Administrative Agent nor any of its
directors, officers, agents or employees shall be liable to the Borrowers, the
Lenders or any Lender for any action taken or omitted to be taken by it or them
hereunder or under any other Loan Document or in connection herewith or
therewith except to the extent such action or inaction is found to have been
caused by the gross negligence or willful misconduct of such Person. 

11.4. No Responsibility for Loans, Creditworthiness,
Recitals, Etc. Neither the Administrative Agent nor any of its
directors, officers, agents or employees shall be responsible for or have any
duty to ascertain, inquire into, or verify (i) any statement, warranty or
representation made in connection with any Loan Document or any borrowing
hereunder; (ii) the performance or observance of any of the covenants or
agreements of any obligor under any Loan Document; (iii) the satisfaction of any
condition specified in Article
V, except receipt of items
required to be delivered solely to the Administrative Agent; (iv) the existence
or possible existence of any Default or (v) the validity, effectiveness or
genuineness of any Loan Document or any other instrument or writing furnished in
connection therewith. The Administrative Agent shall not be responsible to any
Lender for any recitals, statements, representations or warranties herein or in
any of the other Loan Documents for perfection or priority of the Liens on any
collateral subject to the Loan Documents, the execution, effectiveness,
genuineness, validity, legality, enforceability, collectibility, or sufficiency
of this Agreement or any of the other Loan Documents or the transactions
contemplated thereby, or for the financial condition of any guarantor of any or
all of the Obligations, the Company or any of its Subsidiaries. 

11.5. Action on Instructions of Lenders. The Administrative Agent shall in all cases be
fully protected in acting, or in refraining from acting, hereunder and under any
other Loan Document in accordance with written instructions signed by the
Required Lenders (or the Required Revolving Loan Lenders or all of the Lenders,
in each case in the event that and to the extent that this Agreement expressly
requires such), and such instructions and any action taken or failure to act
pursuant thereto shall be binding on all of the Lenders and on all owners of
Loans. Upon receipt of any such instructions from the Required Lenders (or the
Required Revolving Loan Lenders or all of the Lenders, in each case in the event
that and to the extent that this Agreement expressly requires such), the
Administrative Agent shall be permitted to act on behalf of the full principal
amount of the Obligations. The Administrative Agent shall be fully justified in
failing or refusing to take any action hereunder and under any other Loan
Document unless it shall first be indemnified to its satisfaction by the Lenders
pro rata against any and all liability, cost and expense that it may incur by
reason of taking or continuing to take any such action. 

111 

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

11.7. Reliance on Documents; Counsel. The Administrative Agent shall be entitled to
rely upon any notice, consent, certificate, affidavit, letter, telegram,
statement, paper or document believed by it to be genuine and correct and to
have been signed or sent by the proper person or persons, and, in respect to
legal matters, upon the opinion of counsel selected by the Administrative Agent,
which counsel may be employees of the Administrative Agent. 

11.8. The Administrative Agent’s Reimbursement and
Indemnification. The Lenders
agree to reimburse and indemnify the Administrative Agent ratably in proportion
to their respective Pro Rata Shares (i) for any amounts not reimbursed by the
Borrowers for which the Administrative Agent is entitled to reimbursement by the
Borrowers under the Loan Documents, (ii) for any other expenses incurred by the
Administrative Agent on behalf of the Lenders, in connection with the
preparation, execution, delivery, administration and enforcement of the Loan
Documents and (iii) for any liabilities, obligations, losses, damages,
penalties, actions, judgments, suits, costs, expenses or disbursements of any
kind and nature whatsoever which may be imposed on, incurred by or asserted
against the Administrative Agent in any way relating to or arising out of the
Loan Documents or any other document delivered in connection therewith or the
transactions contemplated thereby, or the enforcement of any of the terms
thereof or of any such other documents; provided, that no Lender
shall be liable for any of the foregoing to the extent any of the foregoing is
found in a final non-appealable judgment by a court of competent jurisdiction to
have arisen solely from the gross negligence or willful misconduct of the
Administrative Agent. The obligations and agreements of the Lenders under this
Section 11.8 shall survive the termination of this Agreement.

11.9. Rights as a Lender. With respect to its Revolving Loan Commitment,
Loans made by it and Letters of Credit issued by it, the Administrative Agent
shall have the same rights and powers hereunder and under any other Loan
Document as any Lender or Issuing Bank and may exercise the same as though it
were not the Administrative Agent, and the term “Lender” and “Issuing Bank”
shall, unless the context otherwise indicates, include the Administrative Agent
in its individual capacity. The Administrative Agent may accept deposits from,
lend money to, and generally engage in any kind of trust, debt, equity or other
transaction, in addition to those contemplated by this Agreement or any other
Loan Document, with the Company or any of its Subsidiaries in which such Person
is not prohibited hereby from engaging with any other Person. 

112 

11.10. Lender Credit Decision. Each Lender acknowledges and agrees that the
extensions of credit made hereunder are commercial loans and letters of credit
and not investments in a business enterprise or securities. Each Lender further
represents that it is engaged in making, acquiring or holding commercial loans
in the ordinary course of its business and has, independently and without
reliance upon the Arrangers, the Administrative Agent or any other Lender and
based on the financial statements prepared by the Company and such other
documents and information as it has deemed appropriate, made its own
credit analysis and decision to enter into this Agreement as a Lender, and to
make, acquire or hold Loans hereunder. Each Lender also acknowledges that it
will, independently and without reliance upon the Arrangers, the Administrative
Agent or any other Lender and based on such documents and information (which may
contain material, non-public information within the meaning of the United States
securities laws concerning the Company and its Affiliates) as it shall from time
to time deem appropriate, continue to make its own credit decisions in taking or
not taking action under or based upon this Agreement, any related agreement or
any document furnished hereunder or thereunder and in deciding whether or to the
extent to which it will continue as a lender or assign or otherwise transfer its
rights, interests and obligations hereunder. 

11.11. Successor Administrative Agent. The Administrative Agent may resign at any time
by giving written notice thereof to the Lenders and the Company. Upon any such
resignation, the Required Lenders shall have the right to appoint, on behalf of
the Borrowers and the Lenders, a successor Administrative Agent. If no successor
Administrative Agent shall have been so appointed by the Required Lenders and
shall have accepted such appointment within thirty (30) days after the retiring
Administrative Agent’s giving notice of resignation, then the retiring
Administrative Agent may appoint, on behalf of the Borrowers and the Lenders, a
successor Administrative Agent. Notwithstanding anything herein to the contrary,
so long as no Default has occurred and is continuing, each such successor
Administrative Agent shall be subject to approval by the Company, which approval
shall not be unreasonably withheld or delayed. Such successor Administrative
Agent shall be a commercial bank having capital and retained earnings of at
least $500,000,000. Upon the acceptance of any appointment as the Administrative
Agent hereunder by a successor Administrative Agent, such successor
Administrative Agent shall thereupon succeed to and become vested with all the
rights, powers, privileges and duties of the retiring Administrative Agent, and
the retiring Administrative Agent shall be discharged from its duties and
obligations hereunder and under the other Loan Documents. After any retiring
Administrative Agent’s resignation hereunder as Administrative Agent, the
provisions of this Article
XI shall continue in effect for
its benefit in respect of any actions taken or omitted to be taken by it while
it was acting as the Administrative Agent hereunder and under the other Loan
Documents. 

11.12. No Duties Imposed Upon Co-Syndication Agents or
Arrangers. No Person identified
on the cover page to this Agreement, the signature pages to this Agreement or
otherwise in this Agreement as a “Co-Syndication Agent” or an “Arranger” shall
have any right, power, obligation, liability, responsibility or duty under this
Agreement other than, if such Person is a Lender, those applicable to all
Lenders as such. Without limiting the foregoing, no Person identified on the
cover page to this Agreement, the signature pages to this Agreement or otherwise
in this Agreement as a “Co-Syndication Agent” or an “Arranger” shall have or be
deemed to have any fiduciary duty to or fiduciary relationship with any Lender.
In addition to the agreement set forth in Section 11.10, each of the
Lenders acknowledges that it has not relied, and will not rely, on any Person so
identified in deciding to enter into this Agreement or in taking or not taking
action hereunder. 

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

113 

11.14. Delegation to Affiliates. The Borrowers and the Lenders agree that the
Administrative Agent may delegate any of its duties under this Agreement to any
of its Affiliates or branches. Any such Affiliate (and such Affiliate’s
directors, officers, agents and employees) which performs duties in connection
with this Agreement shall be entitled to the same benefits of the
indemnification, waiver and other protective provisions to which the
Administrative Agent is entitled under terms of this Agreement. 

11.15. Authority with Respect to Guarantees and
Collateral Documents. 

(A) Authority to Take Action. Each Lender authorizes the Administrative Agent
to enter into each of the Guarantees, Collateral Documents and related
intercreditor agreements to which the Administrative Agent is or may become a
party and to take all action contemplated by such documents. Each Lender agrees
that no Holder of Secured Obligations (other than the Administrative Agent)
shall have the right individually to independently enforce or seek to realize
upon the security granted by any Guaranty or Collateral Document, it being
understood and agreed that such rights and remedies may be exercised solely by
the Administrative Agent for the benefit of the Holders of Secured Obligations
or Holders of Secured Obligations, as applicable, upon the terms of such
documents. In furtherance and without limitation of the foregoing, the
Administrative Agent is hereby authorized and given a power of attorney by and
on behalf of each of the Holders of Secured Obligations to execute any Guaranty
or Collateral Document necessary or appropriate to guarantee the Secured
Obligations or grant and perfect a Lien on any Collateral in favor of the
Administrative Agent on behalf of the Holders of Secured Obligations, if
necessary. 

(B) Authority to Release. The Lenders hereby authorize the Administrative
Agent, at its option and in its discretion, to release any Subsidiary Guarantor
from its obligations under any of the Guarantees and release or subordinate any
Lien granted to the Administrative Agent upon any Collateral (i) upon
termination of the Commitments and payment and satisfaction of all of the
Obligations at any time arising under or in respect of this Agreement or the
Loan Documents and Hedging Agreements or the transactions contemplated hereby or
thereby (which satisfaction, in the case of outstanding Letters of Credit, may
take the form of a backstop letter of credit from an issuer acceptable to the
Administrative Agent or cash collateral); (ii) in connection with any
transaction which is permitted by this Agreement (including, without limitation,
the permitted sale by the Company or any Subsidiary of one hundred percent
(100%) of the Capital Stock of any Subsidiary Guarantor or Pledge Subsidiary
owned by the Company and its Subsidiaries or a dissolution or liquidation of a
Subsidiary Guarantor permitted by Section 7.3(B)(iii)),
(iii) as required pursuant to Section 7.2(K) or
Section 7.2(L) or (iv) if approved, authorized or ratified in
writing by the Required Lenders, unless any such release is required to be
approved by all of the Lenders hereunder. Upon request by the Administrative
Agent at any time, the Lenders will confirm in writing the Administrative
Agent’s authority to release particular Subsidiary Guarantors or types or items
of Collateral pursuant to this Section 11.15(B).
Notwithstanding the foregoing (a) on September 29, 2017, each of the Permitted
Release Guarantors shall automatically be released from its obligations under
its respective Guaranty, and all Liens granted by each Permitted Release Guarantor to the Administrative Agent
upon any Collateral shall also be released and (b) as previously authorized
pursuant to the Existing Credit Agreement, effective upon the merger of
ArvinMeritor Sweden with and into Meritor HVS AB, with Meritor HVS AB as the
surviving entity, ArvinMeritor Sweden shall automatically be released from its
obligations under its respective Guaranty. The Administrative Agent is hereby
authorized, without any further consent of the Lenders, to execute and deliver
any required documents necessary to evidence such releases with respect to the
Permitted Release Guarantors or ArvinMeritor Sweden.

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(C) Further Documents, etc. Upon any sale or transfer of assets constituting
Collateral which is permitted pursuant to the terms of any Loan Document, or
consented to in writing by the Required Lenders or all of the Lenders, as
applicable, and upon at least five Business Days’ prior written request by the
Company, the Administrative Agent shall (and is hereby irrevocably authorized by
the Lenders to) execute such documents as may be necessary to evidence the
release of the Liens granted to the Administrative Agent for the benefit of the
Holders of Secured Obligations herein or pursuant hereto upon the Collateral
that was sold or transferred; provided, however, that (i) the Administrative Agent shall not be required to execute any
such document on terms which, in the Administrative Agent’s opinion, would
expose the Administrative Agent to liability or create any obligation or entail
any consequence other than the release of such Liens without recourse or
warranty, and (ii) such release shall not in any manner discharge, affect or
impair the Secured Obligations or any Liens upon (or obligations of the
Borrowers or any Subsidiary in respect of) all interests retained by the
Borrowers or any Subsidiary, including (without limitation) the proceeds of the
sale, all of which shall continue to constitute part of the Collateral.

11.16. Foreign Collateral Authorizations. 

(A) The Company, on its
behalf and on behalf of its Subsidiaries, and each Lender, on its behalf and on
the behalf of its affiliated Holders of Secured Obligations, hereby irrevocably
constitute the Administrative Agent as the holder of an irrevocable power of
attorney (fondé de
pouvoir within the meaning of
Article 2692 of the Civil Code of Québec) in order to hold hypothecs and
security granted by the Company or any Subsidiary on property pursuant to the
laws of the Province of Quebec to secure obligations of the Company or any
Subsidiary under any bond, debenture or similar title of indebtedness issued by
the Company or any Subsidiary in connection with this Agreement, and agree that
the Administrative Agent may act as the bondholder and mandatary with respect to
any bond, debenture or similar title of indebtedness that may be issued by the
Company or any Subsidiary and pledged in favor of the Holders of Secured
Obligations in connection with this Agreement. Notwithstanding the provisions of
Section 32 of the An Act respecting the special powers of legal persons
(Quebec), JPMorgan Chase Bank, N.A. as Administrative Agent may acquire and be
the holder of any bond issued by the Company or any Subsidiary in connection
with this Agreement (i.e., the fondé de pouvoir may
acquire and hold the first bond issued under any deed of hypothec by the Company
or any Subsidiary). 

115 

(B) The Administrative
Agent is hereby authorized to execute and deliver any documents necessary or
appropriate to create and perfect the rights of pledge for the benefit of the
Holders of Secured Obligations including a right of pledge with respect to the
entitlements to profits, the balance left
after winding up and the voting rights of the Company as ultimate parent of any
subsidiary of the Company which is organized under the laws of the Netherlands
and the Capital Stock of which is pledged in connection herewith (a
“Dutch Pledge”). Without prejudice to the provisions of this
Agreement and the other Loan Documents, the parties hereto acknowledge and agree
with the creation of parallel debt obligations of the Company or any relevant
Subsidiary as will be described in any Dutch Pledge (the “Parallel Debt”), including that any payment received by the
Administrative Agent in respect of the Parallel Debt will - conditionally upon
such payment not subsequently being avoided or reduced by virtue of any
provisions or enactments relating to bankruptcy, insolvency, preference,
liquidation or similar laws of general application - be deemed a satisfaction of
a pro rata portion of the corresponding amounts of the Secured Obligations, and
any payment to the Holders of Secured Obligations in satisfaction of the Secured
Obligations shall - conditionally upon such payment not subsequently being
avoided or reduced by virtue of any provisions or enactments relating to
bankruptcy, insolvency, preference, liquidation or similar laws of general
application - be deemed as satisfaction of the corresponding amount of the
Parallel Debt. The parties hereto acknowledge and agree that, for purposes of a
Dutch Pledge, any resignation by the Administrative Agent is not effective until
its rights under the Parallel Debt are assigned to the successor Administrative
Agent. 

(C) The Administrative
Agent shall administer any Collateral Document which is governed by German law
and is a pledge (Pfandrecht) or otherwise
transferred to any Holder of Secured Obligations under an accessory security
right (akzessorische
Sicherheit) in the name and on
behalf of the Holder of Secured Obligations. In relation to any Collateral
Document governed by the laws of Germany, each party hereby authorizes the
Administrative Agent to accept as its representative any pledge or other
creation of any accessory security right made to such party in relation to this
Agreement and to agree to and execute on its behalf as its representative
amendments, supplements and other alterations to any Collateral Document
governed by the laws of Germany which creates a pledge or any other accessory
security right and to release on behalf of such party any Collateral Document
governed by the laws of Germany in accordance with the provisions herein and/or
the provisions in the relevant German law governed pledge agreement. 

11.17. Flood Laws. JPMCB has adopted internal policies and procedures that address
requirements placed on federally regulated lenders under the National Flood
Insurance Reform Act of 1994 and related legislation (the “Flood Laws”). JPMCB, as administrative agent or collateral agent on a syndicated
facility, will post on the applicable electronic platform (or otherwise
distribute to each Lender in the syndicate) documents that it receives in
connection with the Flood Laws. However, JPMCB reminds each Lender and
Participant in the facility that, pursuant to the Flood Laws, each federally
regulated Lender (whether acting as a Lender or Participant in the facility) is
responsible for assuring its own compliance with the flood insurance
requirements. 

ARTICLE XII: SETOFF;
RATABLE PAYMENTS; APPLICATION OF PROCEEDS 

12.1. Setoff. In addition to, and without limitation of, any rights of the Holders of
Secured Obligations under applicable law, if any Default occurs and is
continuing, any Indebtedness from any Holder of Secured Obligations to any
Borrower (including all account balances,
whether provisional or final and whether or not collected or available) may be
offset and applied toward the payment of the Secured Obligations owing to such
Holder of Secured Obligations, whether or not the Secured Obligations, or any
part hereof, shall then be due. It is understood and agreed that no deposits of
the Subsidiary Borrower or Indebtedness held by or owing to the Subsidiary
Borrower shall be offset by any Holder of Secured Obligations and applied
towards the Secured Obligations incurred solely by or on behalf of the Company
unless the Subsidiary Borrower shall be jointly and severally liable for all of
the Secured Obligations at such time pursuant to Section 1.4. 

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12.2. Ratable Payments. If any Holder of Secured Obligations, whether by
setoff or otherwise, has payment made to it upon its Secured Obligations (other
than payments received pursuant to Sections 2.14(E),
4.1, 4.2 or 4.4
or as otherwise provided herein) in a greater proportion than that received by
any other Holder of Secured Obligations, such Holder of Secured Obligations
agrees, promptly upon demand, to purchase a portion of the Secured Obligations
held by the other Holders of Secured Obligations so that after such purchase
each Holder of Secured Obligations will hold its ratable share of the relevant
Secured Obligations in accordance with Section 12.4. If any
Holder of Secured Obligations, whether in connection with setoff or amounts
which might be subject to setoff or otherwise, receives collateral or other
protection for its Secured Obligations or such amounts which may be subject to
setoff, such Holder of Secured Obligations agrees, promptly upon demand, to take
such action necessary such that all Holders of Secured Obligations share in the
benefits of such collateral ratably in proportion to the obligations owing to
them. In case any such payment is disturbed by legal process or otherwise,
appropriate further adjustments shall be made. 

12.3. Relations
Among Lenders. Except with respect to the exercise of set-off  rights of any
Lender in accordance with Section 12.1,
the proceeds  of which are applied in accordance with this Agreement, each Lender agrees that  it will not take any action,
nor institute any actions or proceedings, against  any Borrower or any other obligor hereunder or with respect to any Loan
Document, without the prior written consent of the Required Lenders or, as may  be provided in this Agreement or the other
Loan Documents, at the direction of  the Administrative Agent. 

(B) The Lenders are not
partners or co-venturers, and no Lender shall be liable for the acts or
omissions of, or (except as otherwise set forth herein in case of the
Administrative Agent) authorized to act for, any other Lender. The
Administrative Agent shall have the exclusive right on behalf of the Lenders to
enforce on the payment of the principal of and interest on any Loan after the
date such principal or interest has become due and payable pursuant to the terms
of this Agreement. 

12.4. Application of Proceeds. The Administrative Agent shall apply all
proceeds of Collateral to be applied to the Secured Obligations in accordance
with the Collateral Documents in the following order: 

(A) first, to pay interest
on and then principal of any portion of the Loans which the Administrative Agent
may have advanced on behalf of any Lender for which the Administrative Agent has
not then been reimbursed by such Lender or a Borrower; 

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(B) second, to pay interest
on and then principal of any advance made under Section 10.15 for which the Administrative Agent has not then
been paid by a Borrower or reimbursed by the Lenders; 

(C) third, to pay
Obligations in respect of any fees, expense reimbursements or indemnities then
due to the Administrative Agent; 

(D) fourth, to the ratable
payment of Obligations in respect of any fees, expenses, reimbursements or
indemnities then due to the Lenders and the Issuing Banks; 

(E) fifth, to the ratable
payment of interest due in respect of Loans and L/C Obligations; 

(F) sixth, ratably, to the
payment or prepayment of principal outstanding on Loans and Reimbursement
Obligations and to provide any cash collateral required pursuant to
Section 3.11 or otherwise; 

(G) seventh, to the ratable
payment of the Hedging Obligations (including Foreign Obligations), Treasury
Obligations and Foreign Treasury Obligations, in each case, constituting Secured
Obligations; 

(H) eighth, to the
applicable Loan Party or as a court of competent jurisdiction may otherwise
direct. 

Notwithstanding the
foregoing, amounts received from any Loan Party shall not be applied to any
Excluded Swap Obligation of such Loan Party. The order of priority set forth in
this Section 12.4 and the related
provisions of this Agreement are set forth solely to determine the rights and
priorities of the Agent, the Lenders, the Issuing Banks and other Holders of
Secured Obligations as among themselves. The order of priority set forth in
clauses (D) through (H) of this
Section 12.4 may at any time and
from time to time be changed by the Lenders without necessity of notice to or
consent of or approval by any Borrower, or any other Person. The order of
priority set forth in clauses
(A) through (C)
of this Section
12.4 may be changed only with the
prior written consent of the Administrative Agent. 

12.5. Disclosure. Each Borrower and each Lender hereby acknowledges and agrees that JPMCB
and/or its Affiliates from time to time may hold investments in, make other
loans to or have other relationships with the Borrowers and their respective
Affiliates. 

12.6. Nonreliance. Each Lender hereby represents that it is not relying on or looking to
any Margin Stock for the repayment of the Loans and Reimbursement Obligations
provided for herein. 

12.7. Representations and Covenants Among
Lenders. Each Lender represents
and covenants for the benefit of all other Lenders and the Administrative Agent
that such Lender is not satisfying and shall not satisfy any of its obligations
pursuant to this Agreement with any assets considered for any purposes of ERISA
or Section 4975 of the Code to be assets of or on behalf of any “plan” as
defined in Section 3(3) of ERISA or Section 4975 of the Code, regardless of
whether subject to ERISA or Section 4975 of the Code. 

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ARTICLE XIII: BENEFIT OF
AGREEMENT; ASSIGNMENTS; PARTICIPATIONS 

13.1. Successors and Assigns. The terms and provisions of the Loan Documents
shall be binding upon and inure to the benefit of the Borrowers, the
Administrative Agent and the Lenders and their respective successors and assigns
permitted hereby, except that (i) no Borrower shall have the right to assign its
rights or obligations under the Loan Documents without the prior written consent
of each Lender, (ii) any assignment by any Lender must be made in compliance
with Section 13.3, and (iii) any transfer by Participants must be
made in compliance with Section
13.2. Any attempted assignment or
transfer by any party not made in compliance with this Section 13.1 (except as otherwise consented to in accordance
with the terms of this Agreement) shall be null and void, unless such attempted
assignment or transfer is treated as a participation in accordance with
Section 13.3(C). The parties to this Agreement acknowledge that
clause (ii) of this Section 13.1 relates only
to absolute assignments and this Section 13.1 does not
prohibit assignments creating security interests, including, without limitation,
(x) any pledge or assignment by any Lender of all or any portion of its rights
under this Agreement and any promissory note issued hereunder to a Federal
Reserve Bank or other central banking authority, (y) in the case of a Lender
which is a Fund, any pledge or assignment of all or any portion of its rights
under this Agreement and any promissory note issued hereunder to its trustee in
support of its obligations to its trustee or (z) any pledge or assignment by any
Lender of all or any portion of its rights under this Agreement and any
promissory note issued hereunder to direct or indirect contractual
counterparties in interest rate swap agreements or credit derivative
transactions relating to the Loans; provided, however, that no such pledge or assignment creating a security interest shall
release the transferor Lender from its obligations hereunder unless and until
the parties thereto have complied with the provisions of Section 13.3. The Administrative Agent may treat the Person
which made any Loan or which holds any promissory note issued hereunder as the
owner thereof for all purposes hereof unless and until such Person complies with
Section 13.3; provided, however, that the Administrative Agent may in its discretion (but shall not be
required to) follow instructions from the Person which made any Loan or which
holds any promissory note issued hereunder to direct payments relating to such
Loan or promissory note issued hereunder to another Person. Any assignee of the
rights to any Loan or any promissory note issued hereunder agrees by acceptance
of such assignment to be bound by all the terms and provisions of the Loan
Documents. Any request, authority or consent of any Person, who at the time of
making such request or giving such authority or consent is the owner of the
rights to any Loan (whether or not a promissory note has been issued hereunder
in evidence thereof), shall be conclusive and binding on any subsequent holder
or assignee of the rights to such Loan. 

13.2. Participations.Permitted Participants; Effect. Any Lender may at any time sell to one or more banks or other entities
(“Participants”), other
than an Ineligible Institution, participating interests in any Revolving Credit
Obligations or Term Loans of such Lender, any promissory note issued hereunder
held by such Lender, any Revolving Loan Commitment of such Lender or any other
interest of such Lender under the Loan Documents. In the event of any such sale
by a Lender of participating interests to a Participant, such Lender’s
obligations under the Loan Documents shall remain unchanged, such Lender shall
remain solely responsible to the other parties hereto for the performance of
such obligations, such Lender shall remain the owner of its Revolving Credit
Obligations and Term Loans, as applicable, and the holder of any promissory note
issued to it hereunder in evidence thereof for all purposes under the Loan Documents, all amounts payable by the Borrowers
under this Agreement shall be determined as if such Lender had not sold such
participating interests, and the Borrowers and the Administrative Agent shall
continue to deal solely and directly with such Lender in connection with such
Lender’s rights and obligations under the Loan Documents. 

119 

(B) Voting Rights. Each Lender shall retain the sole right to
approve, without the consent of any Participant, any amendment, modification or
waiver of any provision of the Loan Documents other than any amendment,
modification or waiver with respect to any Loan or Revolving Loan Commitment in
which such Participant has an interest which would require consent of all of the
Lenders pursuant to the terms of Section 9.3. 

(C) Benefit of Certain Provisions. Each Borrower agrees that each Participant shall
be deemed to have the right of setoff provided in Section 12.1 in respect of its participating interest in
amounts owing under the Loan Documents to the same extent as if the amount of
its participating interest were owing directly to it as a Lender under the Loan
Documents; provided, that each Lender
shall retain the right of setoff provided in Section 12.1 with respect to the amount of participating
interests sold to each Participant. The Lenders agree to share with each
Participant, and each Participant, by exercising the right of setoff provided in
Section 12.1, agrees to share with each Lender, any amount
received pursuant to the exercise of its right of setoff, such amounts to be
shared in accordance with Section
12.2 as if each Participant were
a Lender. Each Borrower further agrees that each Participant shall be entitled
to the benefits of Section
2.14(E), Article IV and Section
10.7 to the same extent as if it
were a Lender and had acquired its interest by assignment pursuant to
Section 13.3; provided, that (i) a
Participant shall not be entitled to receive any greater payment under
Section 2.14(E), Article IV or
Section 10.7 than the Lender who sold the participating
interest to such Participant would have received had it retained such interest
for its own account, unless the sale of such interest to such Participant is
made with the prior written consent of the Company and (ii) any Participant
agrees to comply with the provisions of Section 2.14(E) and
Article IV to the same extent as if it were a Lender. Each
Lender that sells a participation shall, acting solely for this purpose as an
agent of the Borrowers, maintain a register on which it enters the name and
address of each Participant and the principal amounts (and stated interest) of
each Participant’s interest in the Revolving Credit Obligations, Term Loans or
other obligations under the Loan Documents (the “Participant Register”); provided
that no Lender shall have any obligation to disclose all or any portion of the
Participant Register (including the identity of any Participant or any
information relating to a Participant’s interest in any Revolving Credit
Obligations, Term Loans or its other obligations under any Loan Document) to any
Person except to the extent that such disclosure is necessary to establish that
such Revolving Credit Obligations, Term Loan or other obligation is in
registered form under Section 5f.103-1(c) of the United States Treasury
Regulations. The entries in the Participant Register shall be conclusive absent
manifest error, and such Lender shall treat each Person whose name is recorded
in the Participant Register as the owner of such participation for all purposes
of this Agreement notwithstanding any notice to the contrary. For the avoidance
of doubt, the Administrative Agent (in its capacity as Administrative Agent)
shall have no responsibility for maintaining a Participant Register. 

120 

13.3. Assignments.Permitted
Assignments. Any Lender may at
any time assign to one or more banks or other entities (“Purchasers”), other than an Ineligible Institution, all or
any part of its rights and obligations under the Loan Documents. Such assignment
shall be evidenced by an agreement substantially in the form of
Exhibit D or in such other form as may be agreed to by the
parties thereto (each such agreement, an “Assignment Agreement”). Each such assignment with respect to a
Purchaser which is not a Lender, an Affiliate of a Lender or an Approved Fund
shall, unless otherwise consented to in writing by the Administrative Agent and,
so long as no Default has occurred and is continuing, the Company (provided that
the Company shall be deemed to have consented to any such assignment unless it
shall object thereto by written notice to the Administrative Agent within ten
(10) Business Days after having received notice thereof) (i) in the case of any
assignment of any Revolving Loan Commitment or Revolving Credit Obligations,
either be in an amount equal to the entire applicable Revolving Loan Commitment
and Revolving Credit Obligations of the assigning Lender or (unless each of the
Administrative Agent and, if no Default has occurred and is continuing, the
Company otherwise consents) be in an aggregate amount of $5,000,000 or an
integral multiple of $1,000,000 in excess thereof or (ii) in the case of any
assignment of any Term Loan, either be in an amount equal to the entire
outstanding principal amount of the Term Loans of the assigning Lender or
(unless each of the Administrative Agent and, if no Default has occurred and is
continuing, the Company otherwise consents) be in an aggregate amount of
$1,000,000 or an integral multiple of $1,000,000 in excess thereof. The amount
of the assignment shall be based on the Revolving Loan Commitment and Revolving
Credit Obligations subject to the assignment, determined as of the date of such
assignment or as of the “Trade Date,” if the “Trade Date” is specified in the
Assignment Agreement.

(B) Consents. The consent of the Company shall be required prior to an assignment
becoming effective unless the Purchaser is a Lender, an Affiliate of a Lender or
an Approved Fund; provided, that the Company
shall be deemed to have consented to any such assignment unless it shall object
thereto by written notice to the Administrative Agent within ten (10) Business
Days after having received notice thereof, and provided, further, that the consent of the Company shall not be
required if a Default has occurred and is continuing. The consent of the
Administrative Agent shall be required prior to an assignment becoming
effective; provided, that no consent
of the Administrative Agent shall be required for an assignment of all or any
portion of a Term Loan to a Lender, an Affiliate of a Lender or an Approved
Fund. The consent of each Issuing Bank shall be required prior to an assignment
being effective; provided, that no consent
of an Issuing Bank shall be required for an assignment of all or any portion of
a Term Loan. Any consent required under this Section 13.3(B) shall not be unreasonably withheld or delayed.

121 

(C) Effect; Effective Date. Upon (i) delivery to the Administrative Agent of
an Assignment Agreement, together with any consents required by Sections 13.3(A) and 13.3(B), and (ii) payment
of a $3,500 fee to the Administrative Agent for processing such assignment
(unless such fee is waived by the Administrative Agent or unless such assignment
is made to such assigning Lender’s Affiliate), such assignment shall become
effective on the effective date specified in such assignment. The Assignment
Agreement shall contain a representation and warranty by the Purchaser to the
effect that none of the funds, money, assets or other consideration used to make
the purchase and assumption of the Revolving Loan Commitment, Revolving Credit
Obligations and/or Term Loans under the applicable Assignment Agreement
constitutes “plan assets” as defined under ERISA and that the rights, benefits
and interests of the Purchaser in and under the Loan Documents will not be “plan
assets” under ERISA. On and after the effective date of such assignment, such
Purchaser shall for all purposes be a Lender party to this Agreement and
any other Loan Document executed by or on behalf of the Lenders and shall have
all the rights, benefits and obligations of a Lender under the Loan Documents,
to the same extent as if it were an original party thereto, and the transferor
Lender shall be released with respect to the Revolving Credit Obligations and/or
Term Loans assigned to such Purchaser without any further consent or action by
the Borrowers, the Lenders or the Administrative Agent. In the case of an
assignment covering all of the assigning Lender’s rights, benefits and
obligations under this Agreement, such Lender shall cease to be a Lender
hereunder but shall continue to be entitled to the benefits of, and subject to,
those provisions of this Agreement and the other Loan Documents which survive
payment of the Secured Obligations and termination of the Loan Documents. Each
partial assignment hereunder shall be made as an assignment of a proportionate
part of all the assigning Lender’s rights and obligations under this Agreement;
provided, that the foregoing shall not be construed to
prohibit the assignment of a proportionate part of all the assigning Lender’s
rights and obligations in respect of either the Revolving Loans (and Revolving
Loan Commitment) or Term Loans. Any assignment or transfer by a Lender of rights
or obligations under this Agreement that does not comply with this
Section 13.3 (except as otherwise consented to in accordance
with the terms of this Agreement) shall be treated for purposes of this
Agreement as a sale by such Lender of a participation in such rights and
obligations in accordance with Section 13.2. With respect
to each assignment under this Section 13.3(C), the Purchaser, if it shall not be a Lender, shall deliver to the
Administrative Agent an Administrative Questionnaire in which the assignee
designates one or more Credit Contacts to whom all syndicate-level information
(which may contain material non-public information about the Company and its
affiliates and related parties or their respective securities) will be made
available and who may receive such information in accordance with the assignee’s
compliance procedures and applicable laws, including Federal and state
securities laws. 

(D) Replacement Notes. Upon the consummation of any assignment to a
Purchaser hereunder, the transferor Lender, the Administrative Agent and the
Borrowers shall, if the transferor Lender or the Purchaser desires that its
Loans be evidenced by promissory notes, make appropriate arrangements so that,
upon cancellation and surrender to the Borrowers of the previously issued
promissory notes (if any) held by the transferor Lender, new promissory notes
issued hereunder or, as appropriate, replacement promissory notes are issued to
such transferor Lender, if applicable, and new promissory notes or, as
appropriate, replacement promissory notes, are issued to such Purchaser, in each
case in principal amounts reflecting their respective Revolving Loan Commitments
(or, if the applicable Termination Date has occurred, their respective Revolving
Credit Obligations) or Term Loans, as applicable, as adjusted pursuant to such
assignment. 

(E) The Register. The Administrative Agent, acting solely for this
purpose as an Administrative Agent of the Borrowers (and the Borrowers hereby
designate the Administrative Agent to act in such capacity), shall maintain at
one of its offices in New York, New York a copy of each Assignment Agreement
delivered to it and a register (the “Register”) for the
recordation of the names and addresses of the Lenders, and the Revolving Loan
Commitments of, and principal amounts of and interest on the Loans owing to,
each Lender pursuant to the terms hereof from time to time and whether such
Lender is an original Lender or assignee of another Lender pursuant to an
assignment under this Section
13.3. The entries in the Register
shall be conclusive, and the Borrowers, the Administrative Agent and the Lenders
may treat each Person whose name is recorded in the Register pursuant to the
terms hereof as a Lender hereunder for all
purposes of this Agreement, notwithstanding notice to the contrary. The Register
shall be available for inspection by the Borrowers and any Lender, at any
reasonable time and from time to time upon reasonable prior notice.

122 

13.4. Dissemination of Information. Each Borrower authorizes each Lender to disclose
to any Participant or Purchaser or any other Person acquiring an interest in the
Loan Documents by operation of law (each a “Transferee”) and any prospective Transferee any and all
information in such Lender’s possession concerning the creditworthiness of the
Company and its Subsidiaries; provided, that each
Transferee and prospective Transferee agrees to be bound by Section 10.9 of this Agreement. 

13.5. Tax Certifications. If any interest in any Loan Document is
transferred to any Transferee, the transferor Lender shall cause such
Transferee, concurrently with the effectiveness of such transfer, to comply with
the provisions of Section
2.14(E) and Article IV. 

ARTICLE XIV: NOTICES

14.1. Giving Notice. 

(A) Notices Generally. Except in the case of notices and other
communications expressly permitted to be given by telephone (and except as
provided in Section
14.1(B)), all notices, requests
and other communications to any party hereunder shall be in writing (including
electronic transmission, facsimile transmission or similar writing) and shall be
given to such party as follows: 

(i) if to any Borrower, to
it at 2135 W. Maple Road, Troy, MI 48084-7186, Attention of Carl D. Anderson,
II, Vice President and Treasurer (Facsimile No. (248) 435-1393; Telephone No.
(248) 435-1588); 

(ii) if to the
Administrative Agent, (A) other than in the case of Advances to be made to the
Subsidiary Borrower, to JPMorgan Chase Bank, N.A., 500 Stantion Christiana Road,
Ops 2/ Floor 3, Newark, Delaware 19713, Attention of Christopher Nelson
(Facsimile No. (302) 634-4250) and (B) in the case of Advances to be made to the
Subsidiary Borrower or denominated in Agreed Currencies other than Dollars, to
J.P. Morgan Europe Limited, 25 Bank Street, Canary Wharf, London E14 5JP,
Attention of The Manager, Loan & Agency Services (Facsimile No. 44 207 777
2360), and in each case with a copy to JPMorgan Chase Bank, N.A., 383 Madison
Avenue, 24th Floor, New York, NY 10179, Attention of Robert Kellas (Facsimile
No. (212) 270-5100); 

(iii) if to JPMorgan in its
capacity as Issuing Bank, to it at JPMorgan Chase Bank, N.A., 500 Stantion
Christiana Road, Ops 2/ Floor 3, Newark, Delaware 19713, Attention of
Christopher Nelson (Facsimile No. (302) 634-4250) with a copy to JPMorgan Chase
Bank, N.A., 383 Madison Avenue, 24th Floor, New York, NY 10179, Attention of
Robert Kellas (Facsimile No. (212) 270-5100); and 

(iv) if to any other Lender
or Issuing Bank, to it at its address (or telecopy number) set forth in its
Administrative Questionnaire. 

123 

All notices and other
communications given to any party hereto in accordance with the provisions of
this Agreement shall be deemed to have been given on the date of receipt.

(B) Electronic Communications. 

(i) Notices and other
communications to the Lenders or the Issuing Banks may be delivered or furnished
by electronic communication (including e-mail and internet or intranet websites)
pursuant to procedures approved by the Administrative Agent or as otherwise
determined by the Administrative Agent; provided, that the
foregoing shall not apply to notices to any Lender or Issuing Bank pursuant to
Article II if such Lender or Issuing Bank, as applicable,
has notified the Administrative Agent that it is incapable of receiving notices
under such Article by electronic communication. The Administrative Agent or the
Company, on behalf of each Borrower, may, in its respective discretion, agree to
accept notices and other communications to it hereunder by electronic
communications pursuant to procedures approved by it or as it otherwise
determines; provided, that such
determination or approval may be limited to particular notices or
communications. 

(ii) Unless the
Administrative Agent otherwise prescribes, (i) notices and other communications
sent to an e-mail address shall be deemed received upon the sender’s receipt of
an acknowledgement from the intended recipient (such as by the “return receipt
requested” function, as available, return e-mail or other written
acknowledgement); provided, that if such
notice or other communication is not given during the normal business hours of
the recipient, such notice or communication shall be deemed to have been given
at the opening of business on the next Business Day for the recipient, and (ii)
notices or communications posted to an Internet or intranet website shall be
deemed received upon the deemed receipt by the intended recipient at its e-mail
address as described in the foregoing clause (i) of notification
that such notice or communication is available and identifying the website
address therefor. 

(C) Electronic Systems. 

(i) The Company agrees that
the Administrative Agent may, but shall not be obligated to, make Communications
(as defined below) available to the Issuing Banks and the other Lenders by
posting the Communications on Debt Domain, Intralinks, Syndtrak, ClearPar or a
substantially similar Electronic System. 

(ii) Any Electronic System
used by the Administrative Agent is provided “as is” and “as available.” The
Agent Parties (as defined below) do not warrant the adequacy of such Electronic
Systems and expressly disclaim liability for errors or omissions in the
Communications. No warranty of any kind, express, implied or statutory,
including, without limitation, any warranty of merchantability, fitness for a
particular purpose, non-infringement of third-party rights or freedom from
viruses or other code defects, is made by any Agent Party in connection with the
Communications or any Electronic System. In no event shall the Administrative
Agent or any of its Related Parties (collectively, the “Agent Parties”) have any
liability to any Loan Party, any Lender, any Issuing Bank or any other Person or
entity for damages of any kind, including, without limitation, direct or
indirect, special, incidental or consequential damages, losses or expenses
(whether in tort, contract or otherwise) arising out of any Loan Party’s or the
Administrative Agent’s transmission of
Communications through an Electronic System. “Communications” means, collectively, any notice, demand,
communication, information, document or other material provided by or on behalf
of any Loan Party pursuant to any Loan Document or the transactions contemplated
therein which is distributed by the Administrative Agent, any Lender or any
Issuing Bank by means of electronic communications pursuant to this Section,
including through an Electronic System. 

124 

14.2. Change of Address. Each of the Borrowers and the Administrative
Agent may change the address for service of notice upon it by a notice in
writing to the other parties hereto, including, without limitation, each Lender.
Each Lender may change the address for service of notice upon it by a notice in
writing to the Company and the Administrative Agent. 

14.3. USA PATRIOT ACT NOTIFICATION. The following notification is provided to the
Borrowers pursuant to the Patriot Act: 

IMPORTANT INFORMATION ABOUT
PROCEDURES FOR OPENING A NEW ACCOUNT. To help the government fight the funding
of terrorism and money laundering activities, Federal law requires all financial
institutions to obtain, verify, and record information that identifies each
person or entity that opens an account, including any deposit account, treasury
management account, loan, other extension of credit, or other financial services
product. What this means for the Loan Parties: When a Loan Party opens an
account, the Administrative Agent and the Lenders will ask for such Loan Party’s
name, tax identification number, business address, and other information that
will allow the Administrative Agent and the Lenders to identify such Loan Party.
The Administrative Agent and the Lenders may also ask to see such Loan Party’s
legal organizational documents or other identifying documents. 

ARTICLE XV: COUNTERPARTS;
EFFECTIVENESS; ELECTRONIC EXECUTION 

By operation of the Third
Amendment and Restatement Agreement, this Agreement may be executed in any
number of counterparts, all of which taken together shall constitute one
agreement, and any of the parties hereto may execute this Agreement by signing
any such counterpart. The words “execution,” “signed,” “signature,” “delivery,”
and words of like import in or relating to any document to be signed in
connection with this Agreement and the transactions contemplated hereby shall be
deemed to include Electronic Signatures, deliveries or the keeping of records in
electronic form, each of which shall be of the same legal effect, validity or
enforceability as a manually executed signature, physical delivery thereof or
the use of a paper-based recordkeeping system, as the case may be, to the extent
and as provided for in any applicable law, including the Federal Electronic
Signatures in Global and National Commerce Act, the New York State Electronic
Signatures and Records Act, or any other similar state laws based on the Uniform
Electronic Transactions Act. 

ARTICLE XVI:
CROSS-GUARANTY 

In order to induce the
Lenders to extend credit to the Borrowers hereunder, but subject to the
penultimate sentence of this Article XVI, each Borrower
hereby absolutely and irrevocably and
unconditionally guarantees, as a primary obligor and not merely as a surety, the
payment when and as due of the Secured Obligations. Each Borrower further agrees
that the due and punctual payment of such Secured Obligations may be extended or
renewed, in whole or in part, without notice to or further assent from it, and
that it will remain bound upon its guarantee hereunder notwithstanding any such
extension or renewal of any such Secured Obligation. 

125 

Each Borrower waives
presentment to, demand of payment from and protest to any Borrower of any of the
Secured Obligations, and also waives notice of acceptance of its obligations and
notice of protest for nonpayment. The obligations of each Borrower hereunder
shall not be affected by (a) the failure of the Administrative Agent, any
Issuing Bank or any Lender to assert any claim or demand or to enforce any right
or remedy against any Borrower under the provisions of this Agreement, any other
Loan Document or otherwise; (b) any extension or renewal of any of the Secured
Obligations; (c) any rescission, waiver, amendment or modification of, or
release from, any of the terms or provisions of this Agreement, or any other
Loan Document or agreement; (d) any default, failure or delay, willful or
otherwise, in the performance of any of the Secured Obligations; (e) the failure
of the Administrative Agent to take any steps to perfect and maintain any
security interest in, or to preserve any rights to, any security or collateral
for the Secured Obligations, if any; (f) any change in the corporate,
partnership or other existence, structure or ownership of any Borrower or any
other guarantor of any of the Secured Obligations; (g) the enforceability or
validity of the Secured Obligations or any part thereof or the genuineness,
enforceability or validity of any agreement relating thereto or with respect to
any collateral securing the Secured Obligations or any part thereof, or any
other invalidity or unenforceability relating to or against any Borrower or any
other guarantor of any of the Secured Obligations, for any reason related to
this Agreement, any Hedging Agreement, any Treasury Agreement, any other Loan
Document, or any provision of applicable law, decree, order or regulation of any
jurisdiction purporting to prohibit the payment by such Borrower or any other
guarantor of the Secured Obligations, of any of the Secured Obligations or
otherwise affecting any term of any of the Secured Obligations; or (h) any other
act, omission or delay to do any other act which may or might in any manner or
to any extent vary the risk of such Borrower or otherwise operate as a discharge
of a guarantor as a matter of law or equity or which would impair or eliminate
any right of such Borrower to subrogation. 

Each Borrower further
agrees that its agreement hereunder constitutes a guarantee of payment when due
(whether or not any bankruptcy or similar proceeding shall have stayed the
accrual or collection of any of the Secured Obligations or operated as a
discharge thereof) and not merely of collection, and waives any right to require
that any resort be had by the Administrative Agent, any Issuing Bank or any
Lender to any balance of any deposit account or credit on the books of the
Administrative Agent, any Issuing Bank or any Lender in favor of any Borrower or
any other Person. 

The obligations of each
Borrower hereunder shall not be subject to any reduction, limitation, impairment
or termination for any reason, and shall not be subject to any defense or
set-off, counterclaim, recoupment or termination whatsoever, by reason of the
invalidity, illegality or unenforceability of any of the Secured Obligations,
any impossibility in the performance of any of the Secured Obligations or
otherwise. 

126 

Each Borrower further
agrees that its obligations hereunder shall constitute a continuing and
irrevocable guarantee of all Secured Obligations now or hereafter existing and
shall continue to be effective or be reinstated, as the case may be, if at any
time payment, or any part thereof, of any Secured Obligation (including a
payment effected through exercise of a right of setoff) is rescinded, or is or
must otherwise be restored or returned by the Administrative Agent, any Issuing
Bank or any Lender upon the insolvency, bankruptcy or reorganization of any
Borrower or otherwise (including pursuant to any settlement entered into by a
Holder of Secured Obligations in its discretion). 

In furtherance of the
foregoing and not in limitation of any other right which the Administrative
Agent, any Issuing Bank or any Lender may have at law or in equity against any
Borrower by virtue hereof, upon the failure of any other Borrower to pay any
Secured Obligation when and as the same shall become due, whether at maturity,
by acceleration, after notice of prepayment or otherwise, each Borrower hereby
promises to and will, upon receipt of written demand by the Administrative
Agent, any Issuing Bank or any Lender, forthwith pay, or cause to be paid, to
the Administrative Agent, any Issuing Bank or any Lender in cash an amount equal
to the unpaid principal amount of the Secured Obligations then due, together
with accrued and unpaid interest thereon. Each Borrower further agrees that if
payment in respect of any Secured Obligation shall be due in a currency other
than Dollars and/or at a place of payment other than New York, Chicago or any
other Eurocurrency Payment Office and if, by reason of any Change in Law,
disruption of currency or foreign exchange markets, war or civil disturbance or
other event, payment of such Secured Obligation in such currency or at such
place of payment shall be impossible or, in the reasonable judgment of the
Administrative Agent, any Issuing Bank or any Lender, disadvantageous to the
Administrative Agent, any Issuing Bank or any Lender in any material respect,
then, at the election of the Administrative Agent, such Borrower shall make
payment of such Secured Obligation in Dollars (based upon the applicable
Equivalent Amount in effect on the date of payment) and/or in New York, Chicago
or such other Eurocurrency Payment Office as is designated by the Administrative
Agent and, as a separate and independent obligation, shall indemnify the
Administrative Agent, any Issuing Bank and any Lender against any losses or
reasonable out-of-pocket expenses that it shall sustain as a result of such
alternative payment. 

Upon payment by any
Borrower of any sums as provided above, all rights of such Borrower against any
Borrower arising as a result thereof by way of right of subrogation or otherwise
shall in all respects be subordinated and junior in right of payment to the
prior indefeasible payment in full in cash of all the Secured Obligations owed
by such Borrower to the Administrative Agent, the Issuing Banks and the Lenders.

Nothing shall discharge or
satisfy the liability of any Borrower hereunder except the full performance and
payment in cash of the Secured Obligations. 

Each Borrower hereby
jointly and severally absolutely, unconditionally and irrevocably undertakes to
provide such funds or other support as may be needed from time to time by each
other Loan Party to honor all of its obligations under this Article XVI or the Subsidiary Guaranty, as applicable, in respect of Specified Swap
Obligations (provided, however, that each Borrower shall only be liable under
this paragraph for the maximum amount of such liability that can be hereby
incurred without rendering its obligations under this paragraph or otherwise under this Article XVI voidable under applicable law relating to fraudulent conveyance or
fraudulent transfer, and not for any greater amount). Each Borrower intends that
this paragraph constitute, and this paragraph shall be deemed to constitute, a
“keepwell, support, or other agreement” for the benefit of each other Guarantor
for all purposes of Section 1a(18)(A)(v)(II) of the Commodity Exchange Act.

127 

Notwithstanding anything
contained in this Article
XVI to the contrary, the Foreign
Subsidiary Borrower shall only be liable under this Article XVI for any of the Loans made to, or any other Secured Obligation incurred
solely by or on behalf of, the Company or any Subsidiary Guarantor which is a
Domestic Subsidiary only at any time that, and for so long as, the Foreign
Subsidiary Borrower is a Special Foreign Subsidiary. 

This Article XVI re-evidences the guaranty set forth in Section 1.4(C) of the Existing Credit Agreement, and the
guaranty under this Article
XVI is in no way intended to
constitute a novation of any obligations owed by the Borrowers under such
Section 1.4(C), all of which are hereby reaffirmed, ratified and
confirmed. 

The remainder of this page
is intentionally blank. 

128 

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

[SIGNATURE PAGES
OMITTED]

 

SIGNATURE PAGE TO MERITOR,
INC. CREDIT AGREEMENT 

PRICING SCHEDULE

		(Level I)	(Level II)	(Level III)	(Level IV)	(Level V)
		≥
      Ba2	≥
      Ba3	≥
      B1	≥
      B2	<B2
	CORPORATE	and	and	and	and	and
	RATING	BB	BB-	B+	B	B
						
	Applicable					
	Commitment Fee	0.35%	0.375%	0.45%	0.50%	0.50%
	Percentage					
	Applicable					 
	Floating Rate	1.50%	1.75%	2.00%	2.25%	2.50%
	Margin					
	Applicable					
	Eurocurrency	2.50%	2.75%	3.00%	3.25%	3.50%
	Margin					
	Applicable L/C	2.50%	2.75%	3.00%	3.25%	3.50%
	Fee
Percentage

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

“Level I Status” exists at any date if, on such date, the
Company’s Applicable Moody’s Rating is Ba2 or better and the Company’s Applicable
S&P Rating is BB or better. 

“Level II Status” exists at any date if, on such date, (i) the
Company has not qualified for Level I Status and the Company’s Applicable
Moody’s Rating is Ba3 or better and
the Company’s Applicable S&P
Rating is BB- or better. 

“Level III Status” exists at any date if, on such date, (i) the
Company has not qualified for Level I or II Status and (ii) the Company’s
Applicable Moody’s Rating is B1 or better and the Company’s Applicable
S&P Rating is B+ or better. 

“Level IV Status” exists at any date if, on such date, (i) the
Company has not qualified for Level I, II or III Status and (ii) the Company’s
Applicable Moody’s Rating is B2 or better and the Company’s Applicable
S&P Rating is B or better. 

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

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

“Applicable Moody’s Rating” means, at any time, the senior implied credit
rating issued by Moody’s and then in effect with respect to the Company.

1

“Applicable S&P Rating” means, at any time, the corporate credit rating
issued by S&P and then in effect with respect to the Company. 

In addition to the
provisions set forth above, if a split occurs between the Applicable Moody’s
Rating and the Applicable S&P Rating that is greater than one ratings
category, then the pricing shall be that set forth above with respect to the
combination of (i) the higher of such ratings and (ii) the rating of the other
ratings service that is one ratings category above the ratings category reported
by such other ratings service. 

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

2

EXHIBIT A
TO

THIRD AMENDED AND RESTATED
CREDIT AGREEMENT 

Revolving Loan
Commitments 

	Lender	Revolving Loan
  Commitment
	JPMORGAN CHASE BANK, N.A.	$70,000,000.00
	BANK
      OF AMERICA, N.A.	$70,000,000.00
	ROYAL BANK OF CANADA	$65,000,000.00
	PNC
      BANK, NATIONAL ASSOCIATION	$65,000,000.00
	BNP
      PARIBAS	$50,000,000.00
	THE
      ROYAL BANK OF SCOTLAND PLC
(TRADING AS NATWEST MARKETS)	$50,000,000.00
	FIFTH THIRD BANK	$35,000,000.00
	THE
      HUNTINGTON NATIONAL BANK	$35,000,000.00
	U.S.
      BANK NATIONAL ASSOCIATION	$35,000,000.00
	CITIZENS BANK, N.A.	$25,000,000.00
	COMERICA BANK	$25,000,000.00
	            Total	$525,000,000

A

EXHIBIT B
TO

THIRD AMENDED AND RESTATED
CREDIT AGREEMENT 

Form of
Borrowing/Election Notice 

	TO:	JPMorgan Chase Bank, N.A.,
      as Administrative Agent (the “Administrative Agent”)
      under that certain Third Amended and Restated Credit Agreement, dated as
      of March 31, 2017, by and among Meritor, Inc., an Indiana corporation (the
      “Company”), ArvinMeritor Finance
      Ireland Unlimited Company (the “Subsidiary Borrower”),
      the institutions from time to time parties thereto as “Lenders” and the
      Administrative Agent (as the same may be amended, restated, supplemented
      or otherwise modified from time to time, the “Credit Agreement”).

The Company hereby gives to
the Administrative Agent a Borrowing/Election Notice pursuant to [Section 2.1] [Section 2.9] of the Credit
Agreement [on behalf of the Subsidiary
Borrower] and hereby requests to
[borrow] [convert/continue an
Advance] [on behalf of the Subsidiary Borrower] on ______________ (the “Borrowing Date”) as follows: 

	      	(a)	      	borrow from the Lenders, on a pro rata basis,
      an aggregate principal Dollar Amount of $ _________ in [Revolving Loans] [Term
      Loans] as:
				 
				1.  	☐	      	a
      Floating Rate Advance (in Dollars)
							 
				2.  	☐		a
      Eurocurrency Rate Advance with the following characteristics:
							 
							Interest Period of __________ month(s)
							 
							Agreed Currency: [Dollars] [other]
							 
		(b)		with
      respect to the conversion/continuation of an Advance:
				 
				1.  	☐		convert an existing Floating Rate Advance to a
      Eurocurrency Rate Advance with the following characteristics:
							  
							Amount             $____________
							 
							Interest Period of __________ month(s)
							 
							Agreed Currency: [Dollars] [other]
							 
				2.  	☐		continue an existing Eurocurrency Rate Advance
      with the following characteristics:
	 							
							Amount             $____________
							 
							Interest Period of  __________ month(s)
							 
							Agreed Currency: [Dollars] [other]

The undersigned hereby
certifies to the Administrative Agent and the Lenders that: (i) no Default or
Unmatured Default has occurred and is continuing on the date hereof or on the
Borrowing Date or will result from the making of the proposed
Loan[s] or the conversion or continuation of any
Loan[s] on the Borrowing
Date; (ii) the representations and warranties of the undersigned contained in
Article VI of the Credit Agreement are and shall be true and
correct in all material respects on and as of the date hereof and on and as of
the Borrowing Date (unless, on either such date, such representation and
warranty is made as of a specific date, in which case, such representation and
warranty shall be true in all material respects as of such date); (iii) the
amount of the Revolving Credit Obligations does not, and after making such
proposed Advance or issuing, extending, renewing or amending such Letter of
Credit would not, exceed the Revolving Loan Commitment; (iv) the Dollar Amount
of the Revolving Credit Obligations denominated in Agreed Currencies other than
Dollars does not, and after making the Loan[s] requested herein would not, exceed the Foreign
Currency Sublimit; (v) the Facility Obligations Amount does not, and after
making the Loan[s] on the Borrowing Date will not, exceed the Collateral Value Amount; (vi)
in the case of any Loan[s] the proceeds of which shall be used to repay, repurchase, retire, redeem
or defease any Senior Notes, the undersigned shall have furnished a certificate
of a Designated Financial Officer demonstrating pro
forma compliance with the Priority Debt Ratio under
Section 7.4(A) of the Credit Agreement as of the last day of the
undersigned’s most recently completed fiscal quarter for which financial
statements are publicly available, which pro forma compliance shall be determined based on the ratio of (a) Priority Debt
as of the Borrowing Date (after giving effect to the Loan[s] requested herein) to (b) EBITDA for the four
consecutive fiscal quarters then ended on the last day of such fiscal
quarter1 and (vii) all other relevant conditions set forth in
Article V of the Credit Agreement have been
satisfied.
____________________

1 The aggregate
amount of Loans that may be used for the purpose describe in clause (vi) is
subject to limitation pursuant to Section 7.3(L)(iv).

B-1

Unless otherwise defined
herein, terms defined in the Credit Agreement shall have the same meanings in
this Borrowing/Election Notice. 

	Dated: ___________	MERITOR, INC.[, ON
      BEHALF OF
	 	ARVINMERITOR FINANCE
    IRELAND
		UNLIMITED
      COMPANY], as the Company
	 
	 
		By:
    ________________________
		Name:
		Title:

B-2

EXHIBIT C
TO

THIRD AMENDED AND RESTATED
CREDIT AGREEMENT 

Form of Request for
Letter of Credit 

	TO:	JPMorgan Chase Bank, N.A.,
      as Administrative Agent (the “Administrative Agent”)
      under that certain Third Amended and Restated Credit Agreement, dated as
      of March 31, 2017, by and among Meritor, Inc., an Indiana corporation (the
      “Company”),
      ArvinMeritor Finance Ireland Unlimited Company (the “Subsidiary Borrower”),
      the institutions from time to time parties thereto as “Lenders” and the
      Administrative Agent, (as the same may be amended, restated, supplemented
      or otherwise modified from time to time, the “Credit Agreement”).

Pursuant to Section 3.4 of the Credit Agreement, the Company [on behalf of the Subsidiary Borrower] hereby gives to the Issuing Bank a request for issuance of a Letter of
Credit on behalf of [the
Company] [the Subsidiary Borrower], for the benefit of __________________1, in the
Dollar Amount of $_________, with an effective date of ______________(the “Effective
Date”) and an expiry date of ______________. The Agreed Currency requested for such Letter of Credit is [Dollars] [other]. 

[Insert or attach any applicable instructions and
/or conditions]. 

The undersigned hereby
certifies that: (i) no Default or Unmatured Default has occurred and is
continuing on the date hereof or on the Effective Date or will result from the
issuance of the requested Letter of Credit; (ii) the representations and
warranties of the undersigned contained in Article VI of the Credit Agreement are and shall be true and
correct in all material respects on and as of the date hereof and on and as of
the Effective Date (unless, on either such date, such representation and
warranty is made as of a specific date, in which case, such representation and
warranty shall be true in all material respects as of such date); (iii) the
Dollar Amount of the Revolving Credit Obligations does not, and after issuing
such Letter of Credit would not, exceed the Revolving Loan Commitment; (iv) the
Dollar Amount of the Revolving Credit Obligations denominated in Agreed
Currencies other than Dollars does not, and after issuing the Letter of Credit
requested hereby would not, exceed the Foreign Currency Sublimit, (v) the
Facility Obligations Amount on the date hereof does not, and after issuing the
Letter of Credit requested hereby would not, exceed the Collateral Value Amount;
(vi) the LC Obligations with respect to all Letters of Credit issued by such
Issuing Bank would exceed its Issuing Bank Commitment; (vii) the aggregate L/C
Obligations would exceed $100,000,000 and (vii) all other relevant conditions
set forth in Section
3.3, Section 3.4 and Article
V of the Credit Agreement have
been satisfied.
____________________

1 Insert name of beneficiary. 

C-1

Unless otherwise defined
herein, terms defined in the Credit Agreement shall have the same meanings in
this Request for Letter of Credit. 

	Dated: __________	MERITOR, INC., [ON
      BEHALF OF
	 	ARVINMERITOR FINANCE
    IRELAND
		UNLIMITED
      COMPANY], as the Company
	 
	 
		By:
    ________________________
		Name:
		Title:

C-2

EXHIBIT
D
TO
THIRD AMENDED AND
RESTATED CREDIT AGREEMENT 

Form of Assignment
Agreement 

This Assignment Agreement
(this “Assignment
Agreement”) is dated as of
the Effective Date set forth below and is entered into by and between
[Insert name of Assignor] (the “Assignor”) and
[Insert name of Assignee] (the “Assignee”).
Capitalized terms used but not defined herein shall have the meanings given to
them in the Credit Agreement identified below, receipt of a copy of which is
hereby acknowledged by the Assignee. The 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 Agreement as
if set forth herein in full. 

For an agreed
consideration, the Assignor hereby irrevocably sells and assigns to the
Assignee, and the Assignee hereby irrevocably purchases and assumes from the
Assignor, subject to and in accordance with the Terms and Conditions and the
Credit Agreement, as of the Effective Date inserted by the Administrative Agent
as contemplated below, the interest in and to all of the Assignor’s rights and
obligations in its capacity as a Lender under the Credit Agreement and any other
documents or instruments delivered pursuant thereto that represents the amount
and percentage interest identified below of all of the Assignor’s outstanding
rights and obligations under the respective facilities identified below
(including, without limitation, any letters of credit and guaranties included in
such facilities and, to the extent permitted to be assigned under applicable
law, all claims (including without limitation contract claims, tort claims,
malpractice claims, statutory claims and all other claims at law or in equity),
suits, causes of action and any other right of the Assignor 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) (the “Assigned Interest”). Such sale and assignment is without recourse
to the Assignor and, except as expressly provided in this Assignment Agreement,
without representation or warranty by the Assignor. 

	1.		Assignor:		
	  
	2.		Assignee:		  [and
      is an Affiliate/Approved
				Fund
      of [identify
      Lender]]1	
	  
	3.		Company:	Meritor, Inc.	
	  
	4.		Administrative
Agent:	JPMorgan Chase Bank, N.A., as
      the
Administrative Agent under the Credit Agreement	
				 	
	5.		Credit
Agreement	
      The Third Amended and Restated Credit
      Agreement, dated as of March 31, 2017, by and among Meritor, Inc., an
      Indiana corporation (the “Company”), ArvinMeritor Finance Ireland
      Unlimited Company (the “Subsidiary Borrower”), the institutions from time to time parties thereto as “Lenders”
      and JPMorgan Chase Bank, N.A., as Administrative Agent (the
      “Administrative
      Agent”) (as the same
      may be amended, restated, supplemented or otherwise modified from time to
      time, the “Credit
      Agreement”).
      

____________________

1 Select as applicable. 

D-1

6. Assigned Interest:

	Facility
      Assigned	Aggregate Dollar Amount
      of
[Revolving] [Term] Loan
Commitment/Loans for
      all
Lenders*	Dollar Amount
      of
[Revolving] [Term]
Loan
Commitment/Loans
Assigned*	
      Percentage
      Assigned of
[Revolving] [Term] Loan
Commitment/Loans2

		$	$	_______%

7. Trade Date: __________________________________________________________________ 3

Effective Date:
____________, 20__ [TO BE INSERTED BY THE
ADMINISTRATIVE AGENT AND WHICH SHALL BE THE EFFECTIVE DATE OF RECORDATION OF
TRANSFER BY THE ADMINISTRATIVE AGENT.]
____________________

* Amount to be adjusted by
the counterparties to take into account any payments or prepayments made between
the Trade Date and the Effective Date. 

2 Set forth, to at least 9 decimals, as a percentage
of the Revolving or Term Loan Commitment or Loans of all Lenders thereunder.

3 Insert if satisfaction of minimum amounts is to be
determined as of the Trade Date. 

D-2

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

		ASSIGNOR
		[NAME OF ASSIGNOR]
			 
			 
		By:      	 	 
			Name:
			Title:
			 
		ASSIGNEE
		[NAME OF ASSIGNEE]
			 
			 
		By:	 	 
			Name:
			Title:

[Consented to and]4 Accepted: 

JPMORGAN CHASE BANK, N.A.,
as 
Administrative Agent 

	By:      	 	 
	 	Name:
		Title:

[Consented to: 

[NAME OF EACH ISSUING
BANK], as Issuing Bank

		 	 	 
	           
      	Name:
		Title:]5

________________________

4 To be added only if the consent of the
Administrative Agent is required by the terms of the Credit Agreement.

5 To be added only if the consent of the Issuing
Banks is required by the terms of the Credit Agreement. 

D-3 

[Consented to: 

MERITOR, INC., as the
Company 

	By:      
    	 	 
	 	Name:
		Title:]6

________________________

6 To be added only if the consent of the Company is
required by the terms of the Credit Agreement. 

D-4 

ANNEX 1

TERMS AND CONDITIONS FOR

ASSIGNMENT AGREEMENT 

1. Representations and Warranties. 

1.1 Assignor. The Assignor 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 Agreement and to consummate the transactions contemplated
hereby. Neither the Assignor nor any of its officers, directors, employees,
agents or attorneys shall be responsible for (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, perfection, priority, collectibility, or value of the
Loan Documents, (iii) the financial condition of the Company, any of its
Subsidiaries or Affiliates or any other Person obligated in respect of any Loan
Document, (iv) the performance or observance by the Company, any of its
Subsidiaries or Affiliates or any other Person of any of their respective
obligations under any Loan Document, (v) inspecting any of the property, books
or records of the Company, or any guarantor, or (vi) any mistake, error of
judgment, or action taken or omitted to be taken in connection with the Loans or
the Loan Documents. 

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 Agreement 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) agrees that its payment instructions
and notice instructions are as set forth in Schedule 1 to this Assignment Agreement, (iv) none of the funds, monies, assets or
other consideration being used to make the purchase and assumption hereunder are
assets considered for purposes of ERISA or Section 4975 of the Code to be assets
of or on behalf of any “plan” as defined in Section 3(3) of ERISA or Section
4975 of the Code, regardless of whether subject to ERISA or Section 4975 of the
Code, and that its rights, benefits and interests in and under the Loan
Documents will not be “plan assets” under ERISA, (v) it is not relying on or
looking to any Margin Stock for repayment of the Loans and Reimbursement
Obligations provided for in the Credit Agreement, (vi) agrees to indemnify and
hold the Assignor harmless against all losses, costs and expenses (including,
without limitation, reasonable attorneys’ fees) and liabilities incurred by the
Assignor in connection with or arising in any manner from the Assignee’s
non-performance of the obligations assumed under this Assignment Agreement,
(vii) it has received a copy of the Credit Agreement, together with copies of
financial statements and such other documents and information as it has deemed
appropriate to make its own credit analysis and decision to enter into this
Assignment Agreement and to purchase the Assigned Interest on the basis of which
it has made such analysis and decision independently and without reliance on the
Administrative Agent or any other Lender, and (viii) attached as Schedule 1 to this Assignment Agreement is any documentation required to be
delivered by the Assignee with respect to its tax status pursuant to the terms
of the Credit Agreement, duly completed and executed by the Assignee and (b)
agrees (i) that it will, independently and without reliance on the
Administrative Agent, the Assignor or any other Lender, and based on such
documents and information as it shall deem appropriate at the time, continue to
make its own credit decisions in taking or not taking action under the Loan
Documents and (ii) that 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. The Assignee shall pay the Assignor, on the Effective Date, the Dollar
Amount agreed to by the Assignor and the Assignee. From and after the Effective
Date, the Administrative Agent shall make all payments in respect of the
Assigned Interest (including payments of principal, interest, fees and other amounts) to the Assignor for amounts
which have accrued to but excluding the Effective Date and to the Assignee for
amounts which have accrued from and after the Effective Date. 

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

D-5 

SCHEDULE 1 – PART I

ADMINISTRATIVE
QUESTIONNAIRE 

D-6 

SCHEDULE 1 – PART II

U.S. AND NON-U.S. TAX
INFORMATION REPORTING REQUIREMENTS 

D-7 

EXHIBIT E 

TO

THIRD AMENDED AND RESTATED
CREDIT AGREEMENT 

List of Closing Documents

[Attached]

E-1 

EXHIBIT F 
TO

THIRD AMENDED AND RESTATED
CREDIT AGREEMENT 

Form of Compliance
Certificate1

Pursuant to Section 7.1(C) of that certain Third Amended and Restated Credit
Agreement, dated as of March 31, 2017, by and among Meritor, Inc., an Indiana
corporation (the “Company”),
ArvinMeritor Finance Ireland Unlimited Company (the “Subsidiary Borrower”), the institutions from time to time parties
thereto as “Lenders”, JPMorgan Chase Bank, N.A., as Administrative Agent (the
“Administrative Agent”) (as the same may be amended, restated,
supplemented or otherwise modified from time to time, the “Credit Agreement”), the Company, through a Designated Financial
Officer, hereby delivers this Compliance Certificate (this “Certificate”) to the Administrative Agent, together with the
financial statements being delivered to the Administrative Agent pursuant to
Section 7.1[(A)][(B)] of the Credit Agreement for the accounting period
as at, and for the periods ending on, ____________, ____ (the
“Financial
Statements”). Capitalized
terms used herein and in the Schedules attached hereto shall have the meanings
set forth in the Credit Agreement. Subsection references herein relate to
subsections of the Credit Agreement. 

THE UNDERSIGNED HEREBY
CERTIFIES THAT: 

1. I am the duly appointed
[_____________] of the Company and
constitute a Designated Financial Officer under (and as defined in) the Credit
Agreement. 

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

3. The examinations
described in paragraph 2 did not disclose, and I have no knowledge of, the
existence of any condition or event which constitutes a Default or Unmatured
Default as of the date of this Certificate, except as set forth below.

4. Schedule I attached hereto sets forth financial data and computations evidencing
the Company’s compliance with certain
covenants and other provisions of the Credit Agreement related to the
information set forth on the Financial Statements, all of which data and
computations are true, complete and correct and in conformity with Agreement
Accounting Principles.

5. Schedule II attached hereto sets forth the Applicable Moody’s Rating and Applicable
S&P Rating of the Company.

6. Schedule III attached hereto sets forth the various reports
and deliveries which are required under the Credit Agreement. 

7. The information set
forth herein is accurate as of _____________, 20__, and the Financial Statements delivered herewith fairly
present in all material respects the consolidated financial position of the
Company and its Subsidiaries at the dates indicated and the consolidated results
of their operations and cash flows and changes in their financial position for
the periods ending on the date indicated in conformity with Agreement Accounting
Principles, consistently applied [, subject to normal
year-end audit adjustments and the absence of footnotes].

________________________

1 Appropriate
modifications acceptable to the Administrative Agent shall be made to this
Exhibit F in the context of demonstrating pro forma covenant compliance as a condition precedent to a Permitted Acquisition.

F-1 

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

	 
	 
	 

F-2

The foregoing
certifications, together with the computations set forth in Schedule I hereto, the information set forth in Schedule II hereto and the Financial Statements delivered with this Certificate
attached as Schedule
III hereto in support hereof, are
made and delivered this _____ day of  __________, 20___. 

	MERITOR, INC., as the Company
	 	
	 	
	By: 	 	 
		Name:
		Title:

F-3

SCHEDULE I TO COMPLIANCE
CERTIFICATE

Compliance as of __________,
_____
with certain provisions of the Credit Agreement 

The computations set forth
in this Schedule I are designed to facilitate the calculation of
financial covenants and certain other provisions in the Credit Agreement
relating to the information set forth in the Company’s consolidated financial
statements delivered with this Certificate. The computations set forth in this
Schedule I have been made in accordance with Agreement
Accounting Principles which may not conform with generally accepted accounting
principles. The use of abbreviated terminology and/or descriptions in the
computations below are not in any way intended to override or eliminate the more
detailed descriptions for such computations set forth in the relevant provisions
of the Credit Agreement, all of which shall be deemed to control. In addition,
the failure to identify any specific provisions or terms of the Credit Agreement
in this Schedule I does not in any way affect their applicability
during the periods covered by such financial statements or otherwise, which
shall in all cases be governed by the Credit Agreement. For purposes of this
Schedule I, the “Measurement Quarter” shall
be the fiscal quarter of the Company ending on the date set forth above.

	I.
	
      FINANCIAL
      COVENANTS 
			
	       					
		A. 	PRIORITY DEBT RATIO (Section 7.4(A)) 
			
	 					
		1.	Priority Debt (as of the end of the Measurement
      Quarter)		    	
		       				
			a.       	the aggregate outstanding Dollar Amount of
      the Revolving Loans, L/C Obligations and Term Loans (if any) under the
      Credit Agreement 			$__________
		  			
			b.	plus any and all debt (determined in accordance with Agreement
      Accounting Principles) of any Foreign Subsidiary (whether secured or
      unsecured) other than debt the proceeds of which are used to finance the
      working capital needs of such Foreign Subsidiary (which exclusion shall
      include Receivables Facility Attributed Indebtedness of such Foreign
      Subsidiary under any Permitted Foreign Receivables Financing) 	+		$__________
		 			
			c.	plus any and all debt (determined
    in accordance with Agreement        Accounting Principles) of the Company and its Subsidiaries that is secured        by any
    Lien of a type described in Section 7.3(F)(i),
    (vi), (viii),
    (ix), (x), (xvi) or (xvii) (solely
    as        such clause (xvii) relates
    to extensions,        renewals or replacements of Liens referred to in the foregoing        subsections)	+		$__________
		 			
			d.	plus Receivables Facility Attributable Indebtedness arising in
      connection with Permitted Domestic Receivables Financings	+		$__________
		 			
			e.	= Total Priority Debt (sum of I.A.1.a.
      through I.A.1.d.)	=		$__________

F-4

	       	2.	EBITDA (for the four consecutive fiscal quarters then
      ending)2		    	
		        	 				
			a.	consolidated net income (or loss) of the
      Company and its Subsidiaries 			$_________
			       				
			b.	plus Interest Expense	+		$_________
			 			 	
	 	 	c.	plus income
      taxes 	+		$_________
			 				
			d.	plus depreciation expense	+		$_________
			 		 		 
			e.	plus amortization expense	+		$_________
			 				
			f.	minus (plus) any extraordinary gains (losses)	-/+		$_________
			 				
			g.	minus (plus) any gains (losses) on the sale of a
      business	-/+		$_________
			 				
			h.	minus (plus) any special, non-recurring,
      non-cash gains (charges) such as those arising out of the ongoing
      restructuring or consolidation of the operations of the Company and its
      Subsidiaries 	-/+		$_________
			 				
			i.	= EBITDA (sum of I.A.2.a. through
      I.A.2.h.)	=		$_________
			 				
		3.	Priority Debt Ratio (Ratio of I.A.1.e. to I.A.2.i.)			____ to 1.00
			 				
		4.	Maximum Priority Debt Ratio
      2.25 to 1.00 as of the last day of
      each fiscal quarter.
			 				
			The Priority Debt Ratio in
      I.A.3. shall not exceed the Maximum Priority Debt Ratio in I. A.4.

____________________

2 All as
determined in accordance with Agreement Accounting Principles (it being
understood and agreed that (a) items I.A.2.b through I.A.2.h shall be added
solely to the extent deducted in determining consolidated net income, and items
I.A.2.g though I.A.2.h shall be deducted solely to the extent included in
determining consolidated net income, and (b) each addition (or subtraction) of
items I.A.2.b though I.A.2.h shall be without duplication of any other addition
(or subtraction)). 

F-5

	       	B. 	CAPITAL EXPENDITURES (Section 7.4(B))		     	
		        					
		1.	Capital Expenditures (for the
      portion of the fiscal year containing the Measurement Quarter then
      ended)			$_________
		 					
		2.	CapEx Cap Amount	 		
		 					
		 	a.       	CapEx Cap Amount			$150,000,000
	 		 				
			b.	CapEx Cap Amount for the previous Fiscal Year		 	$150,000,000
			 				 
			c.	minus Capital Expenditures for the
      previous Fiscal Year	-		$_________
			 				
			d.	= Carryover amount (excess, if any of I.B.2.b. over
      I.B.2.c.)3	=		$_________
			 				
			e.	CapEx Cap Amount (sum of I.B.2.a. and I.B.2.d.)			$_________
		 	 				
		
      Capital Expenditures
      in I.B.1. shall not exceed the CapEx Cap Amount in I.B.2.e.
  

____________________

3 The carryover
amount may not exceed $75,000,000 for any fiscal year. 

F-6

	II.
             	
      ASSET SALES
      (Section 7.3(C))
	     	
		 			
		A.      	TEST BASIS
		 
		1.	Date of the
      first Asset Sale consummated after the Closing Date (June 23,
    2006)	=	____________
		 
		2.	Aggregate
      book value of the Company’s Consolidated Assets as of the end of the
      fiscal quarter immediately preceding the above-referenced Asset
    Sale	 	____________
		 
		B.	ANNUAL BASKET (for the fiscal year containing the
      Measurement Quarter)
		 
		1.	15.0% of the
      amount set forth in II.A.2.		____________
		 
		2.	State
      whether the aggregate proceeds generated by all Asset Sales of the Company
      and its Subsidiaries during the fiscal year containing the Measurement
      Quarter exceed the amount set forth in II.B.1.		Yes/No
		 
		C.	CUMULATIVE CONSOLIDATED BASKET (for the
      period from the Closing Date through the Measurement Quarter)
		 
		1.	25% of the
      amount set forth in II.A.2.		____________
		 
		2.	State
      whether the aggregate proceeds generated by all Asset Sales of the Company
      and its Subsidiaries since the Closing Date exceed the amount set forth in
      II.C.1.		Yes/No
		 
		D.	CUMULATIVE DOMESTIC BASKET		
		 
		1.	7.5% of the
      amount set forth in II.A.2.		____________
		 
		2.	State
      whether the aggregate proceeds generated by all Asset Sales of the Company
      and the Domestic Subsidiary Guarantors since the Closing Date exceed the
      amount set forth in II.D.1.		Yes/No
		 			
		
      The Administrative
      Agent may request a certificate of a Designated Financial Officer setting
      forth a calculation (in detail reasonably satisfactory to the
      Administrative Agent) of the amount described in each of Items II.B.2.,
      II.C.2. and II.D.2. and confirming the Company’s statements in respect of
      such Items. 

F-7

	III. 	
      CERTAIN OTHER
      MISCELLANEOUS BASKETS BASED ON FINANCIAL STATEMENTS 
	     	
	       	 			
		A. 	
      ADDITIONAL
      SUBSIDIARY GUARANTORS (Section 7.2(K))
		
		       			
		1.	Identify on Exhibit A hereto each Person that (a)(i) is a Domestic
      Subsidiary or a Special Foreign Subsidiary or (ii) is a Foreign Subsidiary
      that guarantees any third party Indebtedness of the Company or any
      Domestic Subsidiary other than the Obligations and (b) is not a
      Subsidiary Guarantor or has not executed the collateral
      documentation required pursuant to Section 7.2(L)(i) (other than any Person not required to become a
      Subsidiary Guarantor pursuant to Section 7.2(K)(iv)).
		 			
		B. 	
      INDEBTEDNESS
      (Section
      7.3(A))
      
		
		 			
		1.	State whether the amount of
      secured Indebtedness of the Company and the Domestic Subsidiary Guarantors
      permitted solely under Section 7.3(A)(vi) exceeded $25,000,000 at any time
      during the Measurement Quarter 		Yes/No
		 			
		2.	State whether the sum of (a)
      Indebtedness of any Foreign Subsidiary permitted solely under Section 7.3(A)(vii) and (b) Receivables Facility Attributed
      Indebtedness arising in connection with Permitted Foreign Receivables
      Financings exceeded $300,000,000 at any time during the Measurement
      Quarter 		Yes/No
		 			
		3.	State whether the amount of
      Receivables Facility Attributed Indebtedness arising in connection with
      Permitted Domestic Receivables Financings exceeded $275,000,000 at any
      time during the Measurement Quarter		Yes/No
		 			
		4.	State whether the sum of unsecured
      Indebtedness of the Company or any Domestic Subsidiary Guarantor permitted
      under Section 7.3(A)(x) exceeded $200,000,000 at any time during the
      Measurement Quarter	 	Yes/No
		 			
		5.	State whether the aggregate
      principal amount of any unsecured Indebtedness incurred pursuant to
      Section 7.3(A)(x) that has a maturity date sooner than six months
      after the later of (x) the latest Termination Date and (y) the latest Term
      Loan Maturity Date (or any later maturity date then in effect with respect
      to the Loans) exceeds $25,000,000.		Yes/No

F-8

	      	C. 	
      INVESTMENTS
      (Section
      7.3(E))
      
	     	
		       			
		1. 	
      The amount of
      proceeds of sales of Capital Stock of, or assets of, Foreign Subsidiaries
      occurring after the Restatement Effective Date that have been distributed
      to or otherwise received by a Loan Party 
		$_________
		 			
		2.	
       State whether
      the amount of Investments by the Company or any Domestic Subsidiary
      Guarantor in Foreign Subsidiaries permitted solely under Section 7.3(E)(ii)(e) exceeded the sum of (1) $250,000,000 and
      (2) the amount set forth in III.C.1 at any time during the Measurement
      Quarter  
		Yes/No
		 			
		3.	
      State whether the
      amount of Investments of a type not described in Section 7.3(E)(i) to (vii) exceeded
      $200,000,000 at any time during the Measurement Quarter 
		Yes/No
	 	 			
		D.	
      LIENS
      (Section
      7.3(F))
      
		
		 		 	
		1.	
      State whether the
      Company or any of its Subsidiaries created, incurred or suffered to exist
      any Lien not otherwise permitted by Section 7.3(F) at
      any time during the Measurement Quarter 
		Yes/No
		 			
		E.	
      ACQUISITIONS
      (Section
      7.3(G))
      
		
		 			
		1.	
      State whether the
      aggregate consideration paid for all Acquisitions since the Restatement
      Effective Date exceeds the sum of (1) $100,000,000 and (2) an amount equal
      to the net cash proceeds received by the Company or any Domestic
      Subsidiary on or after the Restatement Effective Date from the divestiture
      of the Capital Stock in, or assets of, any Foreign Subsidiary4 
		 Yes/No
		 			
		F.	
      RESTRICTED
      PAYMENTS (Section
      7.3(L))
      
		
		 			
		1. 	
      State whether the sum
      of (1) the aggregate amount of cash dividends with respect to the Capital
      Stock of the Company paid during the fiscal year including the Measurement
      Quarter and (2) the aggregate purchase price with respect to repurchases
      of shares of Capital Stock of the Company made during such fiscal year exceeded $40,000,000
		Yes/No
			 		
		2.	
      State whether the
      aggregate purchase price with respect to repurchases of shares of Capital
      Stock of the Company permitted  under Section 7.3(L)(ii)(A) completed
      since the Restatement Effective Date exceeded $25,000,000
		Yes/No

____________________

4 The dollar
limitation in Item III.E.1 shall not apply to Acquisitions where the direct
purchaser of the acquired assets or Capital Stock is the Company, a Domestic
Subsidiary Guarantor or a Foreign Subsidiary Guarantor so long as, in addition
to complying with the other requirements of Section 7.2(K) or Section 7.2(L), in
the case of a purchase of Capital Stock of a Person, the Applicable Pledge
Percentage such Capital Stock shall be pledged in favor of the Administrative
Agent as Collateral. 

F-9

	       	3.	State whether the purchase price
      with respect to repurchases of shares of Capital Stock of the Company
      permitted under Section 7.3(L)(ii)(B) exceeds (1) the lesser of (x)
      $210,000,000 and (y) the amount of the Company’s free cash flow (which
      shall mean the Company’s cumulative cash flow, taking into account cash
      flow generation and losses, provided by and used for operating activities
      minus (i) Capital Expenditures plus (ii) amounts not in excess of
      $100,000,000 expended by the Company or its Subsidiaries to purchase an
      annuity to cover pension liabilities of a German Subsidiary of the
      Company), for the period commencing on June 30, 2014 through and including
      the last day of the most recently ended fiscal quarter prior to the
      applicable repurchase date for which financial statements are publicly
      available, minus (2) the aggregate amount of any repurchases made pursuant
      to Section 7.3(L)(ii)(B) immediately prior to the applicable repurchase
      date;	     	Yes/No
	 	       			
		4.	State whether the aggregate amount
      paid to repurchase, retire, redeem or defease any of the Senior Notes
      since the Restatement Effective Date (other than the 4.0% Convertible
      Notes, the 6.75% Senior Notes, the 7.875% Convertible Notes or Senior
      Notes repurchased, retired, redeemed or defeased pursuant to Section
      7.3(L)(iii)) exceeded $100,000,000	 	Yes/No
		 			 
		5.	State whether the aggregate amount
      of Loans borrowed to repurchase, retire, redeem or defease any amount of
      Senior Notes since the Restatement Effective Date exceeded $150,000,000		Yes/No
		 			
		
      The Administrative
      Agent may request a certificate of a Designated Financial Officer setting
      forth a calculation (in detail reasonably satisfactory to the
      Administrative Agent) of the usage of the basket amounts identified within
      this Part III, confirming the Company’s statements in respect of such
      items. 
		

F-10

EXHIBIT A TO

SCHEDULE 1 of COMPLIANCE
CERTIFICATE 

a. Domestic
Subsidiaries 

b. Special Foreign
Subsidiaries 

c. Other Foreign
Subsidiaries 

F-11

SCHEDULE II TO COMPLIANCE
CERTIFICATE 

Applicable
Ratings 

Corporate
Ratings 

The corporate family rating
from Moody’s and the corporate credit rating from S&P, respectively, and now
in effect is: 

________ from Moody’s

________ from S&P

F-12

SCHEDULE III TO
COMPLIANCE CERTIFICATE 

Reports and
Deliveries 

Attached.

F-13

EXHIBIT G-1 
TO

THIRD AMENDED AND RESTATED
CREDIT AGREEMENT 

Form of Revolving Loan
Note 

[_________], 20[__]

[MERITOR, INC., an Indiana corporation (the
“Company”)] [ARVINMERITOR FINANCE IRELAND UNLIMITED COMPANY (the “Subsidiary Borrower”)], promises to pay to the
order of __________________(the “Lender”) the aggregate
unpaid principal amount of all Revolving Loans made by the Lender to the
[Company] [Subsidiary
Borrower] pursuant to Article II of the below-described Credit Agreement. Such payments shall be made in
immediately available funds on the dates and at the offices of JPMorgan Chase
Bank, N.A., as Administrative Agent, specified in the Credit Agreement, together
with interest on the unpaid principal amount thereof at the rates and on the
dates determined in accordance with the Credit Agreement. The [Company] [Subsidiary Borrower]
shall pay the principal of and accrued and unpaid interest on the Revolving
Loans in full on the Termination Date and as otherwise set forth in the Credit
Agreement. 

The Lender shall, and is
hereby authorized to, record on the schedule attached hereto, or otherwise
record in accordance with its usual practice, the date and amount of each
Revolving Loan and the date and amount of each principal payment hereunder.

This Revolving Loan Note
(this “Note”) is one of the promissory notes issued pursuant
to, and is entitled to the benefits of, the Third Amended and Restated Credit
Agreement, dated as of March 31, 2017, by and among [the Company, ArvinMeritor Finance Ireland Unlimited Company, a private
unlimited liability company incorporated under the laws of
Ireland] [Meritor, Inc., an Indiana corporation, the
Subsidiary Borrower], the institutions from
time to time parties thereto as “Lenders” and JPMorgan Chase Bank, N.A., as
Administrative Agent (the “Administrative Agent”)
(as the same may be amended, restated, supplemented or otherwise modified from
time to time, the “Credit
Agreement”), to which
reference is hereby made for a statement of the terms and conditions governing
this Note, including the terms and conditions under which this Note may be
prepaid or its maturity date accelerated. Each capitalized term used herein and
not defined herein shall have the meaning ascribed thereto in the Credit
Agreement. The Credit Agreement, among other things, provides for the making of
Revolving Loans by the Lender to the Borrowers (including the [Company] [Subsidiary Borrower])
from time to time in an aggregate amount not to exceed at any time outstanding
such Lender’s Revolving Loan Commitment. 

This Note is secured by the
Collateral Documents. Reference is hereby made to the Collateral Documents for a
description of the collateral thereby mortgaged, warranted, bargained, sold,
released, conveyed, assigned, transferred, pledged and hypothecated, the nature
and extent of the security for this Note, the rights of the holder of this Note
and the Administrative Agent in respect of such security and otherwise.

The [Company] [Subsidiary Borrower]
hereby waives presentment, demand, protest and notice of any kind. No failure to
exercise, and no delay in exercising, any rights hereunder on the part of the
holder hereof shall operate as a waiver of such rights. 

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

		
      [MERITOR, INC.] [ARVINMERITOR
      FINANCE 
 IRELAND UNLIMITED COMPANY], as the 
[Company]
      [Subsidiary
      Borrower] 

			 
 
	 	By:       	 	 
			Name:
			Title:

    G-1-1

Revolving Loan and Principal
Payment Schedule 

to 

[Meritor, Inc.] [ArvinMeritor Finance Ireland Unlimited
Company] Revolving Loan Note 

				Principal Amount	
		Principal Amount
      of	Maturity of
      Interest	Paid and Date
      of	Unpaid
	Date	Revolving Loan	Period	Payment	Balance
	 				
	 				
	 				
	 				
	 				
	 				
	 				
	 				
	 				
	 				
	 				
	 				
	 				
	 				
	 				
	 				
	 				
	 				
	 				
	 				
	 				
	 				
	 				
	 				
	 				
	 				
	 				
	 				
	 				
	 				
	 	 	 	 	 

G-1-2

EXHIBIT G-2 
TO

THIRD AMENDED AND RESTATED
CREDIT AGREEMENT 

Form of Term Loan Note

[_________], 20[__]

MERITOR, INC., an Indiana
corporation (the “Company”), promises to
pay to the order of __________________(the “Lender”) the aggregate unpaid principal amount of the Term Loan made by the
Lender to the Company pursuant to Article II of the
below-described Credit Agreement. Such payments shall be made in immediately
available funds on the dates and at the offices of JPMorgan Chase Bank, N.A., as
Administrative Agent, specified in the Credit Agreement, together with interest
on the unpaid principal amount thereof at the rates and on the dates determined
in accordance with the Credit Agreement. The Company shall pay the principal of
and accrued and unpaid interest on such Term Loan in full on the Term Loan
Maturity Date and as otherwise set forth in the Credit Agreement. 

The Lender shall, and is
hereby authorized to, record on the schedule attached hereto, or otherwise
record in accordance with its usual practice, the Term Loan owing to the Lender
and the date and amount of each principal payment hereunder. 

This Term Loan Note (this
“Note”) is one of the promissory notes issued pursuant
to, and is entitled to the benefits of, the Third Amended and Restated Credit
Agreement, dated as of March 31, 2017, by and by and among the Company,
ArvinMeritor Finance Ireland Unlimited Company, a private unlimited liability
company incorporated under the laws of Ireland, the institutions from time to
time parties thereto as “Lenders” and JPMorgan Chase Bank, N.A., as
Administrative Agent (the “Administrative
Agent”) (as the same may be
amended, restated, supplemented or otherwise modified from time to time, the
“Credit
Agreement”), to which
reference is hereby made for a statement of the terms and conditions governing
this Note, including the terms and conditions under which this Note may be
prepaid or its maturity date accelerated. Each capitalized term used herein and
not defined herein shall have the meaning ascribed thereto in the Credit
Agreement.

This Note is secured by the
Collateral Documents. Reference is hereby made to the Collateral Documents for a
description of the collateral thereby mortgaged, warranted, bargained, sold,
released, conveyed, assigned, transferred, pledged and hypothecated, the nature
and extent of the security for this Note, the rights of the holder of this Note
and the Administrative Agent in respect of such security and otherwise.

The Company hereby waives
presentment, demand, protest and notice of any kind. No failure to exercise, and
no delay in exercising, any rights hereunder on the part of the holder hereof
shall operate as a waiver of such rights. 

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

		MERITOR, INC., as the Company 

			 
 
		By:  	 	 
	 		Name:
			Title:

    G-2-1

Term Loan and Principal
Payment Schedule 
to 
Meritor, Inc. Term Loan Note 

				Principal Amount	
		Principal Amount
      of	Maturity of
      Interest	Paid and Date
      of	Unpaid
	Date	Term Loan	Period	Payment	Balance
	 				
	 				
	 				
	 				
	 				
	 				
	 				
	 				
	 				
	 				
	 				
	 				
	 				
	 				
	 				
	 				
	 				
	 				
	 				
	 				
	 				
	 				
	 				
	 				
	 				
	 				
	 				
	 				
	 				
	 				
	 	 	 	 	 

G-2-2

EXHIBIT H
TO

THIRD AMENDED AND RESTATED
CREDIT AGREEMENT 

Form of Collateral Value
Certificate

Pursuant to Section 7.1(C)(ii) of that certain Third Amended and Restated Credit
Agreement, dated as of March 31, 2017, by and among Meritor, Inc., an Indiana
corporation (the “Company”),
ArvinMeritor Finance Ireland Unlimited Company (the “Subsidiary Borrower”), the institutions from time to time parties
thereto as “Lenders” and JPMorgan Chase Bank, N.A. (the “Administrative Agent”)
(as the same may be amended, restated, supplemented or otherwise modified from
time to time, the “Credit Agreement”), the Company, through a Designated Financial
Officer, hereby delivers this Collateral Value Certificate (this
“Certificate”) to the
Administrative Agent, together with supporting financial data and computations,
based on the accounting records of the Company and the financial statements
being delivered to the Administrative Agent pursuant to Section 7.1[(A)][(B)] of the Credit
Agreement for the accounting period ending on _______________, ____ (the
“Accounting
Period”). Capitalized terms
used herein and in the Schedules attached hereto shall have the meanings set
forth in the Credit Agreement. Unless otherwise specified, subsection references
herein relate to subsections of the Credit Agreement. 

The computations set forth
in this Certificate are designed to facilitate determinations of compliance with
certain provisions in the Credit Agreement. The use of abbreviated terminology
and/or descriptions in the computations below are not in any way intended to
override or eliminate the more detailed descriptions for such computations set
forth in the relevant provisions of the Credit Agreement, all of which shall be
deemed to control. In addition, the failure to identify any specific provisions
or terms of the Credit Agreement in this Certificate does not in any way affect
their applicability during the Accounting Period covered by such financial
statements or otherwise, which shall in all cases be governed by the Credit
Agreement.

The undersigned Designated
Financial Officer hereby certifies that attached hereto are true and correct
calculations of (i) the Collateral Value Amount as of the last day of the
Accounting Period and (ii) the Facility Obligations Amount as of the date
hereof, determined in the manner set forth in the Credit Agreement, and that the
information provided in the attachments to his Certificate are accurate and
complete.

[REMAINDER OF PAGE INTENTIONALLY LEFT
BLANK]

	Date: _______________	
	 
	 	MERITOR, INC., as the
      Company
	 
	 
		By:
      ______________________________
		           
      Name:
		           
      Title:

H-1

COLLATERAL VALUE AMOUNT
AND
FACILITY OBLIGATIONS AMOUNT 

Collateral Value Amount
as of the last day of the Accounting Period 

Without duplication, and
without including any Restricted Collateral: 

	1.	      	A/R
      and Inventory Amount				$	               
    
			 					
	2.		PP&E Amount	      	+	      	$	
			 					
	3.		SPV
      Collateral Amount		+		$	 
			 					
	4.		CNTA
      Amount		+		$	
			 					
			Collateral Value Amount (sum of 1 through
      4)1				$	_________

Facility Obligations
Amount as of the date of this Certificate2

	1.	      	the
      aggregate Dollar Amount of the Revolving Credit Obligations (represented
      by the sum of a and b below)	      		      		
	 
	a.		the
      outstanding principal Dollar Amount of the Revolving Loans		+		$	_________
	 
	b.		the
      Dollar Amount of outstanding L/C Obligations at such time (equal to the
      sum of (i) the aggregate of the Dollar Amount then available for drawing
      under each of the Letters of Credit and (ii) the aggregate outstanding
      Dollar Amount of all Reimbursement Obligations at such time)		+		$	_________
	 
	2.		the
      aggregate principal amount of the Term Loans		+		$	_________
	 
			Facility Obligations Amount (sum of 1.a., 1.b. and
      2)				$	_________
	 
	Collateral Value Amount minus Facility Obligations Amount3				$	_________

____________________

1 See Schedule 1 for additional supporting
information. 

2 Determined after giving effect to any borrowings
and payments being made on such date and any issuance, amendment or termination
of any Letter of Credit on such date. 

3 If difference is negative, the Company shall be
required to make a mandatory prepayment under Section 2.4(B)(iv) of the Credit
Agreement. 

H-2

SCHEDULE 1

SUPPORTING INFORMATION

1. Supporting Detail for
CNTA Amount Computation 

Attachment
A hereto sets forth additional
detail supporting the Company’s computation of Collateral Value Amount, as
reflected in this Certificate, including the component parts of the computation
of CNTA Amount. 

2. Unrestricted
Subsidiaries 

The following list
identifies each Subsidiary that has been designated as an “Unrestricted
Subsidiary” under any Senior Note Indenture:

ArvinMeritor Receivables
Corporation 

[others]

H-3

EXHIBIT I
TO

THIRD AMENDED AND RESTATED
CREDIT AGREEMENT 

FORM OF COMMITMENT AND
ACCEPTANCE

Dated [__________]

Reference is made to the
Third Amended and Restated Credit Agreement, dated as of March 31, 2017, by and
among Meritor, Inc., an Indiana corporation (the “Company”), ArvinMeritor Finance Ireland Unlimited Company (the “Subsidiary Borrower”), the institutions from time to time parties
thereto as “Lenders”, and JPMorgan Chase Bank, N.A., as Administrative Agent
(the “Administrative Agent”) (as the same may be amended, restated,
supplemented or otherwise modified from time to time, the “Credit Agreement”). Terms defined in the Credit Agreement are used
herein with the same meaning. 

This agreement is a
“Commitment and Acceptance” referred to in Section 2.23 of the Credit Agreement.
Pursuant to Section 2.23 of the Credit Agreement, the Company has requested
[to raise commitments for incremental term loans in
the amount of $______________]
[and] [an increase in the Revolving Loan Commitment from $______________to
$_____________]. Such Commitment
Increase is to become effective on the date (the “Effective Date”) which is the later of (i) _________, ____ and
(ii) the date on which the conditions precedent set forth in Section 2.23 in
respect of such Commitment Increase have been satisfied. In connection with such
requested Commitment Increase, the Company, the Administrative Agent and
_________________(the “Accepting
Lender”) hereby agree as follows:

1. Effective as of the
Effective Date, [the Accepting Lender
shall become a party to the Credit Agreement as a Lender and shall have all of
the rights and obligations of a Lender thereunder and shall thereupon have
[an Incremental Term Loan
Commitment]
[and] [a Revolving Loan Commitment] under and for
purposes of the Credit Agreement in an amount equal to the] [the Revolving Loan Commitment of the Accepting Lender under the Credit
Agreement shall be increased from $_________to the] amount set forth opposite the Accepting Lender’s name on the signature
page hereof. 

[2. The Accepting Lender hereby (a) represents and
warrants that (i) it has full power and authority, and has taken all action
necessary, to execute and deliver this Commitment and Acceptance and to become a
Lender under the Credit Agreement on the terms hereof, (ii) from and after the
Effective Date, it shall be bound by the provisions of the Credit Agreement as a
Lender thereunder and shall have the obligations of a Lender thereunder, (iii)
agrees that its payment instructions and notice instructions are as set forth in
Schedule 1 to this Commitment and Acceptance, (iv) none of
the funds, monies, assets or other consideration being used to make the purchase
and assumption hereunder are assets considered for purposes of ERISA or Section
4975 of the Code to be assets of or on behalf of any “plan” as defined in
Section 3(3) of ERISA or Section 4975 of the Code, regardless of whether subject
to ERISA or Section 4975 of the Code, and that its rights, benefits and
interests in and under the Loan Documents will not be “plan assets” under ERISA,
(v) it is not relying on or looking to any Margin Stock for repayment of the
Loans and Reimbursement Obligations provided for in the Credit Agreement, (vi)
it has received a copy of the Credit Agreement, together with copies of
financial statements and such other documents and information as it has deemed
appropriate to make its own credit analysis and decision to enter into this
Commitment and Acceptance on the basis of which it has made such analysis and
decision independently and without reliance on the Administrative Agent or any
other Lender, and (viii) attached as Schedule 1 to this
Assignment Agreement is any documentation required to be delivered by the
Accepting Lender with respect to its tax status pursuant to the terms of the
Credit Agreement, duly completed and executed by the Accepting Lender and (b)
agrees (i) that it will, independently and without reliance on the
Administrative Agent, the Assignor or any other Lender, and based on such
documents and information as it shall deem appropriate at the time, continue to
make its own credit decisions in taking or not taking action under the Loan
Documents and (ii) that 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.]1

I-1

3. The Company hereby
represents and warrants that as of the date hereof and as of the Effective Date,
(a) all representations and warranties shall be true and correct in all material
respects as though made on such date, other than representations given as of a
particular date, in which case they shall be true and correct as of that date
and (b) no event shall have occurred and then be continuing which constitutes an
Unmatured Default or a Default. 

4. THIS COMMITMENT AND
ACCEPTANCE SHALL BE GOVERNED BY, AND CONSTRUED IN
ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. 

5. This Commitment and
Acceptance may be executed in one or more counterparts, each of which shall be
deemed an original, but all of which taken together shall constitute one and the
same instrument.
____________________

1 Include if Accepting Lender is not already a party
to the Credit Agreement, or modify as necessary with respect to any existing
Lender. 

I-2

IN WITNESS WHEREOF, the
parties hereto have caused this Commitment and Acceptance Agreement to be
executed by their respective officers thereunto duly authorized, as of the date
first above written. 

		MERITOR, INC.,
		as
      the Company
	 
	 
		By:	 
	 	Name:
		Title:
	 
		JPMORGAN CHASE BANK, N.A.,
		as
      Administrative Agent
	 
	 
		By:	 
		Name:
		Title:
	 
	 
	 
	[INCREMENTAL TERM LOAN]	ACCEPTING LENDER
	[REVOLVING LOAN]	
	COMMITMENT	
	 
	$	[BANK]
	 
	 
		By:	 
		Name:
		Title:

I-3

SCHEDULE 1 – PART I

ADMINISTRATIVE
QUESTIONNAIRE 

I-4

SCHEDULE 1 – PART II

U.S. AND NON-U.S. TAX
INFORMATION REPORTING REQUIREMENTS 

I-5ex101.htm

LETTER OF INTENT

 Dated for Reference, this 29th day of March, 2017

 Between:

Affordable Green Washington LLC. A Washington Limited liability Company (“AGW”) (the “Licensor”) and PacifiCorp Holdings Ltd. a Nevada Corporation ( the “Licensee”), collectively (the “Parties”) desire to memorialize their recent conversations and meetings, in this document and to memorialize their intentions, to utilize their collective efforts in the development and expansion of Marijuana products, Marijuana industry related services and marketing services in the United States, specifically in States and in accordance with State Law, that allow for the consumption of marijuana or marijuana products either recreationally and or medicinally This Letter of Intention (“LOI”) sets forth the general terms and conditions that Licensor offers as they relate to a proposed business transaction via license agreement.

Terms and Conditions

Assets to be Licensed

The licensing of certain marketing and distribution rights of AGW marketing and consulting service model licensing and Sweet Nirvana Products and other Intellectual Property (the “Assets) to be further defined in their entirety in a Definitive Agreement/ Licensing Agreement.

Term

a.) The Parties mutually agree that the period of delivery for a Definitive Agreement / License Agreement shall commence upon the execution of this LOI and terminate on or before April 30, 2017. (the “Delivery Period”)

 b.) The Parties mutually agree that in the spirit of entering into a business transaction by way of Licensing Agreement the term of the proposed Agreement will be 10 (ten) years.

Territories

a.)The Parties mutually agree that the initial territory covered by the proposed Definitive Agreement/ License Agreement be limited initially to the State of Washington.

b.)The Licensee will also have the first right of refusal on a case by case and State by State basis to the exclusive marketing, distribution and consulting service model licensing and Sweet Nirvana Products and intellectual property licensing, specifically in States and in accordance with State Law, that allow for the consumption of marijuana or marijuana products either recreationally and or medicinally.

c.)The Licensee will also have the first right of refusal to the exclusive marketing, distribution and consulting service model licensing and Sweet Nirvana Products and intellectual property licensing, in Canada if as and when legislation is passed in Canada for the legalization and importation of Marijuana and Marijuana products.

  

1

  

Exclusivity

a.)The Parties mutually agree that this LOI and further subsequent agreements that may be contemplated and entered into will remain exclusive in favor of the Licensee and to be further defined in their entirety in a Definitive Agreement/ Licensing Agreement.

b.) The Parties further agree that prior to the earlier of (i) Closing or (ii) termination of this Letter of Intent, that Parties will not directly or indirectly, through any representative, agent, affiliate, business associate or otherwise, solicit offers from, or in any manner encourage any proposal from any other person or entity that will bypass or circumvent the spirit, intent and purpose of the Transaction described herein.

Consideration

a.) The consideration for the assets to be purchased will be fifty thousand ($50,000) US dollars deposit within 30 days of execution of the LOI or Regulatory Approval, whichever comes first;

b.) Within 60 days of execution of this LOI an additional deposit of fifty thousand ($50,000) US dollars; and

c.)  Within 6 months of execution of the LOI a total of two million ($2,000,000) US dollars shall be paid to the Licensor as follows:

d.) All deposits  to be paid directly to the AGW’s trust account held at the Law Offices of Paul M. Donion, located at: 1201 Pacific Avenue, Suite 600, Tacoma, WA 98335.

e.) All funds are refundable and held in trust until such time as the transaction is closed (the “Closing”) or is released from escrow under the authority of the Licensee prior to the closing of the transaction.

f.) Upon the early release of funds from escrow by the Licensee to the Licensor, the transaction will be deemed closed and the Parties are compelled to proceed immediately to execute closing documentation and funds received by the Licensor are non-refundable.

g.) in the event any of the requisite payments totaling and aggregate sum of two million one hundred thousand dollars ($2,100,000) are not completed upon their allotted time frame, AGW and Sweet Nirvana can terminate the Agreement and claim back all licensing and marketing rights citing default of the terms and conditions of the Agreement,  making the Agreement null and void, unless prior written amendment(s) to the Agreement providing  an extension or alternate payment arrangements  are agreed to and duly executed by the Parties.

h.) Within 12 months of execution of the LOI, the Licensee will use its Best Commercial Efforts to raise and fund an additional ten million ($10,000,000) US dollars.

  

2

  

Royalties/Profit Sharing

The Parties mutually agree that there will be no provision for royalties or profit sharing under the terms of the proposed Definitive Agreement/Licensing Agreement.

Definitive Agreement/License Agreement  (the “Agreement”)

All of the Terms and Conditions of the proposed transaction will be stated in detail in a Definitive Agreement/License Agreement, to be negotiated, agreed upon, and executed by the Parties. Neither Party intend to be bound by an oral or written statements or correspondence concerning the Definitive Agreement/License Agreement  arising during the course of negotiations, notwithstanding that the same may be expressed in terms of signifying a partial, preliminary, or interim agreement between the Parties.

Due Diligence Review

Promptly following the execution of this Letter, Licensor will allow Licensee the opportunity for complete examination of Licensor’s financial, accounting, and business records, contracts and all other legal documents necessary to complete due diligence. Any information obtained by Licensee as a result thereof will be maintained by Licensee in confidence. The Parties will cooperate with one another to complete the  due diligence process efficiently and  expeditiously.

Miscellaneous

a.) The Purchase Agreement shall provide for mutual indemnification and other standard representations, warranties, conditions of closing and closing costs.

b.) Each party is responsible for its respective legal, accounting, advisory fees and other costs (including taxes) incurred in connection with the transaction regardless of whether the parties agree to a Purchase Agreement or either party withdraws this Letter of Intent.

c.) This Letter of Intent shall not constitute a public offering or an agreement or an offer to sell or an offer to purchase securities

d.) This Letter of Intent shall not be amended or modified except in writing and duly executed by both Parties.

e.) This Letter of Intent represents the entire understanding of the Parties regarding the terms and conditions hereunder, and supersedes and terminates all prior communications, agreements and understandings, whether oral or written, relating to the subject matter hereof.

Termination

The Parties mutually agree that this LOI may be terminated at any time by any Party for any reason during the Delivery Period giving 5 days written notice to either Party. In the event of a termination all materials and cash balances held by the respective parties or their representatives, counsel, advisors and the like, will be returned in their entirety to the respective Parties.

Confidentiality; Governing Law

The parties agree to treat the terms of this Letter confidently and shall not distribute it or disclose its contents to any third party expect to their respective legal and financial advisors.

This Letter, the Purchase Agreement, and all matters arising directly or indirectly there from shall be governed by and construed under the laws of King County to the exclusive jurisdiction of the of the state and federal courts located in Washington in connection with any dispute or disagreement directly or indirectly relation to, arising out of or in connection with the Purchase Agreement.

This Letter of Intent may be executed in one or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. Confirmation of execution by electronic transmission of a facsimile signature page shall be binding upon any party so confirming.

(THE REMAINDER OF THIS PAGE HAS BEEN LEFT BLANK INTENTIONALLY, SIGNATURES TO FOLLOW ON THE NEXT PAGE)

  

3

  

 

LICENSEE: PacifiCorp Holdings Ltd.

 

By: /s/Laurie Stephenson

President and CEO

500 North Rainbow Road

Las Vegas, NV 89107

LICENSOR: Affordable Green Washington LLC.

 

By: /s/ Jake George

Jake George President

  

4

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