Document:

exv10w01

 

 

CREDIT AGREEMENT dated as of

July 21, 1999,

as amended and restated as of

April 29, 2003

as further amended and restated as of

August 20, 2003

among

ALLIED WASTE INDUSTRIES, INC.,

ALLIED WASTE NORTH AMERICA, INC.,

The Lenders Party Hereto,

JPMORGAN CHASE BANK,

as Administrative Agent and Collateral Agent,

and

CITICORP NORTH AMERICA, INC.,

as Syndication Agent,

J.P. MORGAN SECURITIES INC. and CITIGROUP GLOBAL MARKETS INC.

as

Joint Lead Arrangers and Joint Bookrunners

 

 

		
	 	     FIRST AMENDMENT AND RESTATEMENT dated as of August 20,
2003 (this “Amendment”), to the CREDIT AGREEMENT dated as
of July 21, 1999, as amended and restated as of April 29,
2003 (as amended, supplemented or otherwise modified from
time to time, the “Credit Agreement”), among ALLIED WASTE
INDUSTRIES, INC. (“Allied Waste”), ALLIED WASTE NORTH
AMERICA, INC. (the “Borrower”), the lenders party thereto
(the “Lenders”), and JPMORGAN CHASE BANK, as administrative
agent (in such capacity, the “Administrative Agent”) and
collateral agent (in such capacity, the “Collateral Agent”)
for the Lenders.

          A. Allied Waste and the Borrower have requested that the Credit Agreement
be amended and restated to provide for a $250,000,000 increase in the amount of
Term Loans thereunder (as defined herein, the “Tranche C Term Loans”) and that
such Tranche C Term Loans be provided by existing Lenders and other banks or
financial institutions that become Lenders under the Credit Agreement (each
such Person providing Tranche C Term Loans being referred to herein as a
“Tranche C Lender”).

          B. Allied Waste and the Borrower have also requested that, in connection
with such amendment and restatement, the Lenders modify certain provisions of
the Credit Agreement, among other things, to permit certain refinancing
transactions.

          C. The Required Lenders and each Tranche C Lender are willing to effect
such amendment and restatement on the terms and subject to the conditions of
this Amendment.

          D. Capitalized terms used but not defined herein shall have the meanings
assigned to such terms in the Credit Agreement, as amended and restated hereby.

          Accordingly, in consideration of the mutual agreements herein contained
and other good and valuable consideration, the sufficiency and receipt of which
are hereby acknowledged, the parties hereto agree as follows:

          Section 1. Amendment and Restatement of the Credit Agreement. The Credit Agreement is
hereby amended and restated, effective as of the Amendment Effective Date (as
defined below), in the form of the Credit Agreement immediately prior to the
Amendment Effective Date with the following changes and revisions:

 

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	 	     (a) Amendment of Section 1.01. Section 1.01 is hereby revised by:
	 
	 	     (i) Inserting the following definitions in the appropriate alphabetical order
therein:

		
	 	     “‘First Amendment’ means the First Amendment and Restatement,
dated as of August 20, 2003, to this Agreement.
	 
	 	     ‘First Amendment Effective Date’ means the date on which the
First Amendment became effective in accordance with Section 4
thereof.
	 
	 	     ‘Optional Repurchase’ means, with respect to any outstanding
Indebtedness, any optional or voluntary repurchase, redemption or
prepayment made in cash of such Indebtedness, the related payment
in cash of accrued interest to the date of such repurchase,
redemption or prepayment on the principal amount of such
Indebtedness repurchased, redeemed or prepaid, the payment in cash
of associated premiums (whether voluntary or mandatory) on such
principal amount and the cash payment of other fees and expenses
incurred in connection with such repurchase, redemption or
prepayment.
	 
	 	     ‘Permitted Public Notes Refinancing Transaction’ means the
issuance and sale for cash on or after August 1, 2003, of up to
$750,000,000 in principal amount (or such lesser maximum principal
amount permitted by Section 6.01(a)(xxiii)) of Qualifying Senior
Secured Indebtedness and/or Qualifying Senior Unsecured
Indebtedness (of which not more than $350,000,000 in principal
amount shall consist of Qualifying Senior Secured Indebtedness),
the Net Available Proceeds of which are intended by the Borrower
to be applied to the Optional Repurchase of up to an equal
principal amount of Refinanceable Public Notes; provided, however,
that (i) a Financial Officer provides a written notice to the
Administrative Agent, not later than the later of the First
Amendment Effective Date and the date two Business Days following
the date on which such Qualifying Senior Secured Indebtedness or
Qualifying Senior Unsecured Indebtedness, as the case may be, is
issued, specifying in reasonable detail the material economic
terms on which such Optional Repurchase is proposed to be effected
and certifying the Borrower’s intention to utilize the Net
Available Proceeds of such issuance to consummate such Optional
Repurchase not more than 90 days after the date on which such
Qualifying Senior Secured Indebtedness or Qualifying Senior
Unsecured Indebtedness, as the case may be, is issued and (ii) the
full amount of the Net Available

 

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	 	Proceeds from the issuance of
such Qualifying Senior Secured Indebtedness and Qualifying Senior
Unsecured Indebtedness, as the case may be (other than amounts
theretofore applied to the Optional Repurchase of Refinanceable
Public Notes) is, not later than the date that is 90 days after the date of the issuance thereof,
applied to the prepayment of Term Loans pursuant to Section 2.11.
	 
	 	     ‘Qualifying Senior Unsecured Indebtedness’ means senior
unsecured Indebtedness of the Borrower, which may be Guaranteed on
an unsecured basis by the Subsidiary Loan Parties and by Allied
Waste, issued after August 1, 2003, which does not mature and has
no scheduled amortization of principal prior to April 15, 2010,
provided that such Qualifying Senior Unsecured Indebtedness (a)
accrues interest at a rate determined in good faith by the board
of directors of the Borrower to be a market rate of interest at
the time of issuance thereof, (b) is created under agreements or
instruments that do not, as determined in good faith by the board
of directors of the Borrower, (i) impose covenants on the Borrower
and the Borrower’s Subsidiaries, (ii) contain a definition of
change of control or (iii) contain events of default or other
provisions, in each case materially more restrictive than the
covenants imposed in, the change of control definition used in and
the events of default and other provisions contained in this
Agreement, (c) is not Guaranteed by any Subsidiary unless such
Subsidiary has also Guaranteed the Obligations and (d) does not by
its terms require the maintenance or achievement of any financial
performance standards more restrictive than those contained
herein, as determined in good faith by the board of directors of
the Borrower, other than as a condition to taking specified
action.
	 
	 	     ‘Refinanceable Public Notes’ means Refinanceable Indebtedness
consisting of debt securities.
	 
	 	     ‘Refinancing Facility Amendment’ has the meaning assigned to
such term in Section 2.21.
	 
	 	     ‘Refinancing Facility Notice’ has the meaning assigned to
such term in Section 2.21.
	 
	 	     ‘Refinancing Term Loans’ has the meaning assigned to such
term in Section 2.21.
	 
	 	     ‘Tranche A Participation Fee’ means the participation fee
payable to the Tranche A Lenders pursuant to Section 2.12(c).
	 
	 	     ‘Tranche B Term Loan’ means a Loan made pursuant to clause
(a) of Section 2.01.

 

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	 	     “Tranche C Term Loan’ means a Loan made on the First
Amendment Effective Date pursuant to Section 3 of the First
Amendment. Tranche C Term Loans are not Incremental Term Loans
hereunder.”

		
	 	     (ii) revising that portion the first paragraph of the definition of “Applicable
Margin” appearing prior to the table set forth therein to read as follows:

		
	 	     “‘Applicable Margin’ means, for any day (a) with respect to
any ABR Tranche B Term Loan (i) 2.25% per annum at such times when
the then current Leverage Ratio is greater than or equal to 4.25
to 1.00 and (ii) 2.00% per annum at such times when the then
current Leverage Ratio is less than 4.25 to 1.00, (b) with respect
to any Eurodollar Tranche B Term Loan, or Tranche A Participation
Fee, (i) 3.25% per annum at such times when the then current
Leverage Ratio is greater than or equal to 4.25 to 1.00 and (ii)
3.00% per annum at such times when the then current Leverage Ratio
is less than 4.25 to 1.00 , (c) with respect to any ABR Tranche C
Term Loan, (i) 2.00% per annum at such times when the then current
Leverage Ratio is greater than or equal to 4.25 to 1.00 and (ii)
1.75% per annum at such times when the then current Leverage
Ratio is less than 4.25 to 1.00, (d) with respect to any
Eurodollar Tranche C Term Loan (i) 3.00% per annum at such times
when the then current Leverage Ratio is greater than or equal to
4.25 to 1.00 and (ii) 2.75% per annum at such times when the then
current Leverage Ratio is less than 4.25 to 1.00 and (e) with
respect to any ABR Revolving Loan or Eurodollar Revolving Loan,
the applicable interest rate margin per annum set forth below
under the caption ‘ABR Spread’ or ‘Eurodollar Spread’, as the case
may be, based upon the Leverage Ratio as of the most recent
determination date; provided that the ABR Spread relating to
Swingline Loans, whenever the Leverage Ratio is in Category 2, 3,
4 or 5, will be .25% lower than the ABR Spread reflected in the
table below; and provided further that, until the delivery
pursuant to Section 5.04(b) of Allied Waste’s Consolidated
financial statements for the fiscal quarter ending June 30, 2003,
the ‘Applicable Margin’ for purposes of this clause (e) shall be
the applicable rate per annum set forth below in Category 2:”

 

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	 	     (iii) revising the definitions of “Term Loan” and “Term Loan Commitment” to read as
follows:

		
	 	     “‘Term Loan’ means a Tranche B Term Loan or a Tranche C Term
Loan.
	 
	 	     ‘Term Loan Commitment’ means, with respect to each Term
Lender, the commitment of such Term Lender to make Tranche B Term
Loans hereunder on the Restatement Effective Date or to make
Tranche C Term Loans on the First Amendment Effective Date. The
amount of each Term Lender’s Term Loan Commitment to make Tranche
B Term Loans on the Restatement Effective Date is set forth on
Schedule 2.01 and to make Tranche C Term Loans on the First
Amendment Effective Date is set forth on Schedule A to the First
Amendment (or, in either case, in the Assignment and Acceptance
pursuant to which such Term Lender assumed its Term Loan
Commitment). The aggregate amount of the Term Loan Commitments on
the Restatement Effective Date was $1,200,000,000, and the
aggregate amount of Term Loan Commitments to make Tranche C Term
Loans on the First Amendment Effective Date was $250,000,000.”

		
	 	     (iv) revising the definition of “Consolidated Interest Expense” by redesignating
clauses (x), (y) and (z) thereof as clauses (i), (ii) and (iv) thereof,
respectively, deleting the word “and” at the end of clause (ii) and inserting a
new clause (iii) immediately following clause (ii) to read as follows:

		
	 	     “(iii) to the extent included in determining consolidated
interest expense, the amount of any premium paid to repurchase,
defease or redeem any Indebtedness in any Permitted Refinancing
Transaction or Permitted Public Notes Refinancing Transaction
and”;

		
	 	     (v) revising the definition of “Lenders” to read as follows:

		
	 	     “‘Lenders’ means the Persons listed on Schedule 2.01 or on
Schedule A to the First Amendment and any other Person that shall
have become a party hereto pursuant to an Assignment and
Acceptance, other than any such Person that ceases to be a party
hereto pursuant to an Assignment and Acceptance. Unless the
context otherwise requires, the term ‘Lenders’ includes the
Swingline Lenders and the Tranche A Lenders.”

 

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	 	     (vi) revising the definition of “Loans” to read as follows:

		
	 	     “‘Loans’ means the loans made by the Lenders to the Borrower
pursuant to this Agreement, including Tranche C Term Loans made
pursuant to the First Amendment.”

		
	 	     (vii) revising the second sentence of clause (a) of the definition
of “Prepayment Event” by adding the phrase “made pursuant to clause (iv)
of the immediately preceding sentence” immediately before the words
“setting forth the closing date of such sale”, and revising clause (c)(B)
of the definition of “Prepayment Event” to read as follows: “(B) Section
6.01(a)(xiii), (xiv), (xv), (xviii) or (xxiii);”
	 
	 	     (viii) replacing the reference to “Section 2.11(c)(iv)” in the
definition of “Required Application” with a reference to “Section
2.11(c)(iv) or (v)”.

          (b) Amendment of Section 2.08. Section 2.08(a) is revised by changing
clause (i) of the first sentence thereof to read as follows: “(i) the Term
Loan Commitments shall terminate at 5:00 p.m., New York City time, (x) on the
Restatement Effective Date, in the case of Tranche B Term Loan Commitments and
(y) on the First Amendment Effective Date, in the case of Tranche C Term Loan
Commitments, and”.

          (c) Amendment of Section 2.10. Section 2.10(a) is revised by changing the
first sentence thereof to read as follows:

	 	 	“The Borrower shall repay Tranche B Term Borrowings in an aggregate
principal amount of $15,000,000 on September 30, 2003, and shall repay
Term Borrowings in an aggregate principal amount of $18,125,000 on
September 30 of each year, beginning on September 30, 2004.”

          (d) Amendment of Section 2.11. Section 2.11 is revised by:

		
	 	     (i) in paragraph (c) thereof, inserting “; and” in place of the
period at the end of clause (iv) and adding a new clause (v) to read as
follows:

		
	 	     “(v) in the case of the issuance of Qualifying Senior Secured
Indebtedness or Qualifying Senior Unsecured Indebtedness pursuant
to Section 6.01(a)(xxiii), the Net Available Proceeds thereof may
be applied to the Optional Repurchase of Refinanceable Public
Notes in a Permitted Public Notes Refinancing Transaction,
provided that 100% of such Net Available Proceeds which have not
been so applied by the 90th day following such issuance shall be
applied, not later than such 90th day, to the prepayment of Term
Loans.”; and

 

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	 	     (ii) by adding a new paragraph (f) to read as follows:

		
	 	     “(f) In the event that 100% of the proceeds of the Tranche C
Term Loans, less the amount of out-of-pocket costs and expenses
incurred in connection with the First Amendment and attributable
to obtaining the Tranche C Term Loans, have not been used by the
120th day following the First Amendment Effective Date to effect
Optional Repurchases of Refinanceable Indebtedness, then any such
net proceeds not so applied shall be applied on such 120th day to
prepay Term Loans hereunder.”

          (e) Amendment of Section 2.12. Section 2.12(c) is revised by replacing
the words “in respect of Eurodollar Term Loans” in clause (i) of the first
sentence thereof with “with respect to the Tranche A Participation Fee”.

          (f) Amendment of Section 2.21. Section 2.21 is revised by designating the
existing provisions thereof as paragraph (a) and by adding a new paragraph (b)
to read as follows:

		
	 	     “(b) At any time prior to the Term Loan Maturity Date, the Borrower
may, by notice to the Administrative Agent, which shall promptly deliver
a copy thereof to each of the Lenders (a ‘Refinancing Facility Notice’),
request the addition of a new tranche of term loans under this Agreement
(‘Refinancing Term Loans’), 100% of the proceeds of which will be applied
by the Borrower on the date of receipt to the prepayment of all then
outstanding Term Loans pursuant to Section 2.11(a) and (e); provided,
however, that both (x) at the time of any such request and (y) after
giving effect to any such Refinancing Term Loans, no Default shall exist
and the Borrower shall be in compliance with each Financial Performance
Covenant. Refinancing Term Loans shall not constitute Incremental Term
Loans for purposes of this Section (or reduce the amounts of any
Incremental Term Loans that could be effected pursuant to paragraph (a)
of this Section), and all proceeds of Refinancing Term Loans shall be
applied on their date of Borrowing to the prepayment in full of all then
outstanding Term Loans. The aggregate principal amount of Refinancing
Term Loans requested in a Refinancing Facility Notice or thereafter
borrowed shall equal the outstanding amount of Term Loans at the time of
such notice or on the date of such Borrowing, as the case may be. The
Refinancing Term Loans shall (i) rank pari passu in right of payment and
of security with the other Loans (and the Additional Funded LC Facility
(if any)), (ii) mature and amortize in a manner reasonably acceptable to
the Administrative Agent, but in any event have an average weighted life
equal to or longer than the then outstanding Term Loans and mature on a
date no earlier than the Term Loan Maturity Date, (iii) have such pricing
as may be agreed by

 

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	 	the Borrower and the Persons providing such Refinancing Term Loans
and (iv) otherwise be treated hereunder substantially the same as (and in
any event no more favorably than) the then outstanding Term Loans
(including with respect to the voluntary and mandatory prepayment
provisions); provided, that the terms and provisions applicable to the
Refinancing Term Loans may provide for financial or other covenants
different or in addition to those applicable to the Term Loans and the
Additional Funded LC Facility (if any) only to the extent that such terms
and provisions are applicable only during periods after the Term Loan
Maturity Date. Each commitment in respect of Refinancing Term Loans will
become a Commitment under this Agreement and the facility for the
Refinancing Term Loans will be implemented hereunder pursuant to an
amendment to this Agreement (a ‘Refinancing Facility Amendment’) executed
by each of the Borrower, Allied Waste, each other Loan Party, each Lender
(including any new Lender) agreeing to provide a Commitment in respect of
Refinancing Term Loans and the Administrative Agent, which Refinancing
Facility Amendment will not require the consent of any other Lender. The
effectiveness of any Refinancing Facility Amendment will (in addition to
any other conditions specified therein) be subject to the satisfaction on
the date thereof and, if different, on the date on which the Refinancing
Term Loans are made, of each of the conditions set forth in Section
4.02.”

          (g) Amendment of Section 5.04. Section 5.04(d) is revised by replacing
the word “promptly” at the beginning thereof with the phrase “promptly upon
request by the Administrative Agent (on its own behalf or at the request of any
Lender), but only”.

          (h) Amendment of Section 5.16. Section 5.16 is revised by replacing the
second sentence thereof with the following:

	 	 	“The proceeds of the Revolving Loans and Swingline Loans made after the
Restatement Effective Date will be used only for Permitted Acquisitions,
Investments permitted by Section 6.05, the payment of premiums, accrued
interest, and fees and expenses in connection with any Permitted Public
Notes Refinancing Transaction allowed hereunder and general corporate
purposes, including working capital. The proceeds of the Tranche C Term
Loans will be used solely to effect Optional Repurchases of Refinanceable
Indebtedness or to prepay Term Loans as required by Section 2.11. The
proceeds of Tranche C Term Loans or of other issuances of Indebtedness
which are required or permitted by this Agreement to be applied to the
refinancing or repayment of other Indebtedness may be used to temporarily
prepay Revolving Loans pending such application and may be subsequently
reborrowed (subject to satisfaction of applicable conditions) and applied
to

 

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	 	 	such refinancing or repayment, and any such reborrowing and application
will be deemed a use of such original proceeds for purposes hereof.”

          (i) Amendment of Section 6.01. Section 6.01(a) is revised by:

		
	 	     (i) revising clause (viii) by replacing the reference therein to
“this clause (vii)(B)” with a reference to “this clause (viii)(B)”;
	 
	 	     (ii) changing clause (xii) to read as follows:

		
	 	     “(xii) Refinancing Indebtedness (other than Qualifying Senior
Secured Indebtedness or other Senior Secured Indebtedness) in
respect of Indebtedness permitted under subparagraph (ii) or (iv)
of this Section 6.01(a);” and

		
	 	     (iii) deleting the word “and” at the end of clause (xxi), inserting
“; and” in place of the period at the end of clause (xxii) and adding a
new clause (xxiii) to read as follows:

		
	 	     “(xxiii) Qualifying Senior Secured Indebtedness (in addition
to that permitted pursuant to clauses (xiii) and (xv) above)
issued in Permitted Public Notes Refinancing Transactions after
August 1, 2003, in an aggregate principal amount not in excess of
$350,000,000 and Qualifying Senior Unsecured Indebtedness issued
in Permitted Public Notes Refinancing Transactions after August 1,
2003, in an aggregate principal amount not in excess of
$750,000,000; provided that (x) in each case, the Net Available
Proceeds thereof not applied to the repurchase of Refinanceable
Public Notes shall be applied to the prepayment of Term Loans as
required by Section 2.11 and (y) the aggregate cumulative
principal amount of Indebtedness issued pursuant to this clause
(xxiii) shall not exceed an amount equal to $750,000,000 minus the
aggregate amounts expended on Optional Repurchases pursuant to
clause (v) of Section 6.11(a).”

          (j) Amendment of Section 6.08. Section 6.08(a) is revised by deleting the
word “and” at the end of clause (xi), inserting “; and” in place of the period
at the end of clause (xii), and adding a new clause (xiii) to read as follows:

		
	 	     “(xiii) Allied Waste may repurchase or redeem any or all
shares of Sponsor Preferred Stock for consideration consisting
solely of shares of common stock of Allied Waste.”

          (k) Amendment of Section 6.11. Section 6.11(a) is revised by:

 

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	 	     (i) deleting the comma immediately after the reference to “Junior
Indebtedness” in clause (i);
	 
	 	     (ii) adding the following clauses (u) and (v) immediately prior to
clause (w):

		
	 	     “(u) the prepayment of not more than $225,000,000 in
principal amount of Targeted Senior Secured Indebtedness maturing
in January 2004, (v) Optional Repurchases of Refinanceable
Indebtedness with Net Available Proceeds of Asset Sales referred
to in clause (a)(iv) of the definition of ‘Prepayment Event’ in
excess of the initial $225,000,000 of such Net Available Proceeds,
provided, however, that the aggregate amount expended to make
Optional Repurchases pursuant to this clause (v) plus the
aggregate principal amount of Indebtedness issued pursuant to
Section 6.01(a)(xxiii) shall not in any event exceed
$750,000,000,”; and

		
	 	     (iii) revising clause (w) to read as follows: “(w) prepayments of
Indebtedness permitted or required pursuant to Section 2.11(c) and
Section 6.01(a) or pursuant to Section 2.11(f),”.

          (l) Amendment of Section 9.02. Section 9.02(b) is amended by replacing
the reference in the last sentence of the penultimate paragraph thereof to
“each of the Incremental Facility Amendment and the Funded LC Facility
Amendment” with a reference to “each of the Incremental Facility Amendment, the
Funded LC Facility Amendment and the Refinancing Facility Amendment”.

          (m) Amendment of Section 9.04. Section 9.04(b)(i) is revised by changing
clause (A) thereof to read as follows:

		
	 	     “(A) the Borrower; provided that no consent of the Borrower
shall be required (1) for an assignment by a Revolving Lender to
an assignee that is a Revolving Lender, (2) for an assignment of
Term Loans or Tranche A Credit-Linked Deposits to a Lender, an
Affiliate of a Lender or an Approved Fund or (3) if an Event of
Default under clause (i), (ii), (viii) or (ix) of Section 7.01 has
occurred and is continuing; and”

          (n) Exhibit A of the Credit Agreement is revised by deleting the reference
to “Term Loans:” on the second page thereof and inserting in place thereof
references to “Tranche B Term Loans:” and “Tranche C Term Loans:”.

          SECTION 2. Representations and Warranties. To induce the other parties
hereto to enter into this Amendment, each of the Borrower and Allied

 

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           Waste represents and warrants to each of the Lenders, the Administrative
Agent and the Collateral Agent that, as of the Amendment Effective Date:

          (a) This Amendment has been duly authorized, executed and delivered by it
and this Amendment and the Credit Agreement as amended and restated hereby,
constitutes its legal, valid and binding obligation, enforceable against it in
accordance with its terms except as such enforceability may be limited by
bankruptcy, insolvency, reorganization, moratorium or other similar laws
affecting creditors’ rights generally and by general principles of equity
(regardless of whether such enforceability is considered in a proceeding at law
or in equity).

          (b) The representations and warranties set forth in Article III of the
Credit Agreement are, after giving effect to this Amendment and the making of
the Tranche C Term Loans, true and correct in all material respects on and as
of the Amendment Effective Date with the same effect as though made on and as
of the Amendment Effective Date, except to the extent such representations and
warranties expressly relate to an earlier date (in which case they were true
and correct in all material respects as of such earlier date).

          (c) No Default or Event of Default has occurred and is continuing.

          SECTION 3. Tranche C Term Loans. (a) Subject to the terms and conditions
set forth herein, each Tranche C Term Lender agrees to make Tranche C Term
Loans to the Borrower on the Amendment Effective Date in a principal amount
equal such Lender’s Tranche C Term Loan Commitment set forth on Schedule A to
this Amendment; provided that such commitments of the Tranche C Term Lenders
are several and no Lender shall be responsible for any other Lender’s failure
to make Tranche C Term Loans.

          (b) The obligations of each Tranche C Term Lender to make Tranche C Term
Loans on the Amendment Effective Date is subject to the satisfaction of the
following conditions:

		
	 	     (i) The conditions set forth in Section 4.02 of the Credit Agreement
shall be satisfied on and as of the Amendment Effective Date, and the
Tranche C Term Lenders shall have received a certificate of a Financial
Officer, dated the Amendment Effective Date, to such effect;
	 
	 	     (ii) The Administrative Agent shall have received favorable legal
opinions of (A) Latham & Watkins LLP, special counsel to the Loan
Parties, and (B) Steven M. Helm, General Counsel of Allied Waste, in each
case addressed to the Tranche C Lenders and dated the Amendment Effective
Date, covering such matters relating to the Tranche C Term Loans, this
Amendment, the Credit Agreement as amended and restated

 

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	 	hereby, and the other Loan Documents and security interests
thereunder as the Administrative Agent may reasonably request, which
opinions shall be reasonably satisfactory to the Administrative Agent;
	 
	 	     (iii) The Administrative Agent shall have received for each of
Allied Waste, the Borrower and each other Material Loan Party, a
certificate of the Secretary or an Assistant Secretary of such Material
Loan Party, dated the Amendment Effective Date and certifying that
attached thereto is a true and complete copy of resolutions (or consent
by members or partners, where applicable, to the extent required) duly
adopted by the board of directors (or members or partners, where
applicable) of such Material Loan Party authorizing the execution,
delivery and performance of this Amendment and the Credit Agreement as
amended hereby, and the amendment of any other Loan Documents to which it
is party required to be amended hereby;
	 
	 	     (iv) To the extent deemed necessary or appropriate by the
Administrative Agent, each Security Document shall have been amended to
provide the benefits thereof to the Tranche C Term Loans and the
obligations of the Loan Parties in connection therewith on the same basis
as such benefits are provided to the Tranche B Term Loans;
	 
	 	     (v) Each Loan Party that has not executed and delivered this
Amendment shall have entered into a written instrument reasonably
satisfactory to the Administrative Agent pursuant to which it confirms
that it consents to this Amendment and that the Security Documents to
which it is party will continue to apply in respect of the Credit
Agreement, as amended and restated hereby, and the Obligations
thereunder; and
	 
	 	     (vi) The conditions to effectiveness of this Amendment set forth in
Section 4 hereof shall have been satisfied.

          SECTION 4. Effectiveness. This Amendment and the amendment and
restatement of the Credit Agreement effected hereby shall become effective as
of the first date on which the following conditions have been satisfied:

          (a) The Administrative Agent (or its counsel) shall have received duly
executed counterparts hereof that, when taken together, bear the signatures of
(i) Allied Waste, (ii) the Borrower, (iii) the Required Lenders, (iv) each
Tranche C Term Lender and (v) the Administrative Agent; and

          (b) The conditions to the making of the Tranche C Term Loans set forth in
Section 3(b) hereof shall have been satisfied.

 

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          SECTION 5. Effect of Amendment. (a) Except as expressly set forth
herein, this Amendment shall not by implication or otherwise limit, impair,
constitute a waiver of or otherwise affect the rights and remedies of the
Lenders, the Administrative Agent or the Collateral Agent under the Credit
Agreement or any other Loan Document, and shall not alter, modify, amend or in
any way affect any of the terms, conditions, obligations, covenants or
agreements contained in the Credit Agreement or any other provision of the
Credit Agreement or of any other Loan Document, all of which are ratified and
affirmed in all respects and shall continue in full force and effect. Nothing
herein shall be deemed to entitle the Borrower or Allied Waste to a consent to,
or a waiver, amendment, modification or other change of, any of the terms,
conditions, obligations, covenants or agreements contained in the Credit
Agreement or any other Loan Document in similar or different circumstances.

          (a) For ease of reference, the Credit Agreement, in the form amended and
restated hereby, is attached as Exhibit A hereto.

          SECTION 6. Costs and Expenses. The Borrower and Allied Waste, jointly and
severally, agree to reimburse the Administrative Agent for its reasonable out
of pocket expenses in connection with this Amendment, including the reasonable
fees, charges and disbursements of counsel for the Administrative Agent.

          SECTION 7. Counterparts. This Amendment may be executed in any number of
counterparts and by different parties hereto in separate counterparts, each of
which when so executed and delivered shall be deemed an original, but all such
counterparts together shall constitute but one and the same instrument.
Delivery of any executed counterpart of a signature page of this Amendment by
facsimile transmission shall be as effective as delivery of a manually executed
counterpart hereof.

          SECTION 8. Applicable Law. THIS AMENDMENT SHALL BE GOVERNED BY, AND
CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.

          SECTION 9. Headings. The headings of this Amendment are for purposes of
reference only and shall not limit or otherwise affect the meaning hereof.

 

          IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be
duly executed by their duly authorized officers, all as of the date and year
first above written.

	 	 	 	 	 
	 	 	ALLIED WASTE INDUSTRIES, INC.,
	 	 	 	 	 
	 	 	
by	 	 
	 	 	 	 	

	 	 	 	 	Name:

Title:
	 	 	 	 	 
	 	 	ALLIED WASTE NORTH AMERICA, INC.,
	 	 	 	 	 
	 	 	
by	 	 
	 	 	 	 	

	 	 	 	 	Name:

Title:
	 	 	 	 	 
	 	 	 	 	 
	 	 	JPMORGAN CHASE BANK,

individually and as Administrative

Agent and Collateral Agent
	 	 	 	 	 
	 	 	
by	 	 
	 	 	 	 	

	 	 	 	 	Name:

Title:

 

SIGNATURE PAGE TO

FIRST AMENDMENT AND RESTATEMENT

DATED AS OF AUGUST 20, 2003,

TO THE ALLIED WASTE CREDIT AGREEMENT

DATED AS OF JULY 21, 1999, AS AMENDED

AND RESTATED AS OF APRIL 29, 2003

	 	 	 
	To approve First Amendment and

Restatement:
	 	 	 
	Name of Institution:

	
	 	 
	by	 	 
	
	 	 
	Name:	 	 
	Title:	 	 

 

Schedule A

to First Amendment

and Restatement

Tranche C Term Loan Commitments

	 	 	 
	Lender	 	
Tranche C

Term Loan Commitment<PAGE>
                                                                   Exhibit 10.64
================================================================================

                             SUPPORT PARTY AGREEMENT

                          dated as of December 30, 1997

                                     made by

                                     AMERCO,
                                as Support Party

                                       and

                       PRIVATE MINI STORAGE REALTY, L.P.,
                                   as Borrower

                                   in favor of

                            THE CHASE MANHATTAN BANK,
                             as Administrative Agent

                               for the benefit of

                                       THE
                         VARIOUS FINANCIAL INSTITUTIONS
                                IDENTIFIED HEREIN
                                   as Lenders

================================================================================
<PAGE>
                               TABLE OF CONTENTS

<TABLE>
<CAPTION>
                                                                                             PAGE
                                                                                             ----
<S>                                                                                          <C>
ARTICLE I

        DEFINITIONS .........................................................................   2
                SECTION 1.1. Definitions ....................................................   2

ARTICLE II

        SUPPORT PARTY OBLIGATIONS ...........................................................   3
                SECTION 2.1.  Obligations ...................................................   3
                SECTION 2.2.  Issuance and Purchase Procedures ..............................   5
                SECTION 2.3.  Rights of Administrative Agent and Lenders ....................   6
                SECTION 2.4.  Obligations Absolute, etc. ....................................   7
                SECTION 2.5.  Reinstatement, etc. ...........................................   9
                SECTION 2.6.  Waiver, etc. ..................................................   9
                SECTION 2.7.  Borrower's Agreement ..........................................  10
                SECTION 2.8.  Subordination .................................................  10

ARTICLE III

        REPRESENTATIONS AND WARRANTIES ......................................................  11
                SECTION 3.1.  Organization; Powers ..........................................  11
                SECTION 3.2.  Authorization; Enforceability .................................  11
                SECTION 3.3.  Governmental Approvals; No Conflicts ..........................  11
                SECTION 3.4.  Properties ....................................................  12
                SECTION 3.5.  Litigation and Environmental Matters ..........................  12
                SECTION 3.6.  Compliance with Laws and Agreements ...........................  13
                SECTION 3.7.  Investment and Holding Company Status .........................  13
                SECTION 3.8.  Taxes .........................................................  13
                SECTION 3.9.  ERISA .........................................................  13
                SECTION 3.10. Disclosure ....................................................  14
                SECTION 3.11. Federal Reserve Regulations ...................................  14
                SECTION 3.12. Environmental and Safety Matters ..............................  14
                SECTION 3.13. Financial Statements ..........................................  15
                SECTION 3.14. No Material Adverse Change ....................................  15
                SECTION 3.15. Agreements ....................................................  15
</TABLE>

                                       i
<PAGE>
<TABLE>
<S>                                                                                          <C>
                SECTION 3.16. Borrower's Business ...........................................  15

ARTICLE IV

        COVENANTS ...........................................................................  16
                SECTION 4.1.  Notices of Material Events ....................................  16
                SECTION 4.2.  Existence; Conduct of Business ................................  17
                SECTION 4.3.  Payment of Obligations ........................................  17
                SECTION 4.4.  Maintenance of Properties; Insurance ..........................  17
                SECTION 4.5.  Books and Records; Inspection Rights ..........................  18
                SECTION 4.6.  Compliance with Laws ..........................................  18
                SECTION 4.7.  Financial Statements, Reports, etc. ...........................  18
                SECTION 4.8.  Pari Passu Ranking ............................................  21
                SECTION 4.9.  Equal Security for Revolving Credit Exposure ..................  21

ARTICLE V

        SUPPORT PARTY DEFAULT ...............................................................  22

ARTICLE VI

        MISCELLANEOUS PROVISIONS ............................................................  24
                SECTION 6.1.   Binding on Successors, Transferees and Assigns;
                               Assignment of Support Party Agreement ........................  24
                SECTION 6.2.   Amendments, etc.  ............................................  24
                SECTION 6.3.   Addresses for Notices ........................................  25
                SECTION 6.4.   No Waiver; Remedies ..........................................  25
                SECTION 6.5.   Section Captions .............................................  25
                SECTION 6.6.   Severability .................................................  26
                SECTION 6.7.   Termination of Support Party Agreement .......................  26
                SECTION 6.8.   Governing Law ................................................  26
                SECTION 6.9.   Waiver of Jury Trial .........................................  26
                SECTION 6.10.  Consent to Jurisdiction; Waiver of Immunities ................  26
                SECTION 6.11.  Right of Setoff ..............................................  27
                SECTION 6.12.  Expenses; Indemnity; Damage Waiver ...........................  28
</TABLE>

                                       ii
<PAGE>
                             SUPPORT PARTY AGREEMENT

      THIS SUPPORT PARTY AGREEMENT (this "Support Party Agreement"), dated as of
December 30, 1997, is made by AMERCO, as Support Party (the "Support Party") and
PRIVATE MINI STORAGE REALTY, L.P., as Borrower (the "Borrower") in favor of THE
CHASE MANHATTAN BANK, as Administrative Agent (the "Administrative Agent") for
the benefit of the various financial institutions as are or may from time to
time become Lenders under the Credit Agreement (as hereinafter defined)
(together with their respective successors and assigns, the "Lenders").

                              W I T N E S S E T H :

      WHEREAS, as a condition to the occurrence of the Effective Date under the
Credit Agreement dated as of the date hereof (together with all amendments,
supplements, amendments and restatements and other modifications, if any, from
time to time thereafter made thereto, the "Credit Agreement"), among the
Lenders, the Administrative Agent, the General Partner and the Borrower, the
Support Party is required to execute and deliver this Support Party Agreement in
favor of the Administrative Agent for the benefit of the Lenders;

      WHEREAS, the Support Party has duly authorized the execution, delivery and
performance of this Support Party Agreement; and

      WHEREAS, it is in the best interests of the Support Party to execute this
Support Party Agreement inasmuch as the Support Party has an economic interest
in the transactions contemplated by the Credit Agreement;

      NOW, THEREFORE, for good and valuable consideration, the receipt of which
is hereby acknowledged, and in order to induce the Administrative Agent and the
Lenders to enter into the Credit Agreement with the Borrower, the Support Party
agrees, for the benefit of the Administrative Agent and the Lenders, as follows:
<PAGE>
                                                         Support Party Agreement

                                    ARTICLE I

                                   DEFINITIONS

      SECTION 1.1. Definitions. Capitalized terms used but not otherwise defined
in this Support Party Agreement have the respective meanings specified in the
Credit Agreement; and the rules of interpretation set forth therein shall apply
to this Support Party Agreement. As used in this Support Party Agreement, the
following terms have the meanings specified below:

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

            "ERISA Event" means (a) any "reportable event", as defined in
Section 4043 of ERISA or the regulations issued thereunder with respect to a
Plan (other than an event for which the 30-day notice period is waived); (b) the
existence with respect to any Plan of an "accumulated funding deficiency" (as
defined in Section 412 of the Code or Section 302 of ERISA), whether or not
waived; (c) the filing pursuant to Section 412(d) of the Code or Section 303(d)
of ERISA of an application for a waiver of the minimum funding standard with
respect to any Plan; (d) the incurrence by the Support Party or any of its ERISA
Affiliates of any liability under Title IV of ERISA with respect to the
termination of any Plan; (e) the receipt by the Support Party or any ERISA
Affiliate from the PBGC or a plan administrator of any notice relating to an
intention to terminate any Plan or Plans or to appoint a trustee to administer
any Plan; (f) the incurrence by the Support Party or any of its ERISA Affiliates
of any liability with respect to the withdrawal or partial withdrawal from any
Plan or Multiemployer Plan; or (g) the receipt by the Support Party or any ERISA
Affiliate of any notice, or the receipt by any Multiemployer Plan from the
Support Party or any ERISA Affiliate of any notice, concerning the imposition of
Withdrawal Liability or a determination that a Multiemployer Plan is, or is
expected to be, insolvent or in reorganization, within the meaning of Title IV
of ERISA.

            "5-Year Credit Facility" means the 5-Year Credit Agreement dated as
of June 30, 1997, among the Support Party, as borrower, the financial
institutions listed therein, as lenders and The Chase Manhattan Bank, as
administrative agent for

                                        2
<PAGE>

                                                         Support Party Agreement

the lenders, as the same may be amended, supplemented, amended and restated or
otherwise modified from time to time.

            "Material Subsidiary" shall mean any subsidiary of the Support Party
having a tangible net worth, determined in accordance with GAAP, equal to or
greater than $10,000,000.

            "Plan" means any employee pension benefit plan (other than a
Multiemployer Plan) subject to the provisions of Title IV of ERISA or Section 4
12 of the Code or Section 302 of ERISA, and in respect of which the Support
Party or any ERISA Affiliate is (or, if such plan were terminated, would under
Section 4069 of ERISA be deemed to be) an "employer" as defined in Section 3(5)
of ERISA.

                                   ARTICLE II

                           SUPPORT PARTY OBLIGATIONS

      SECTION 2.1. Obligations. (a) The Support Party hereby covenants and
agrees as follows:

                        (i) if at any time the Borrower's ratio of Annualized
                  Consolidated Cash Flow to Annualized Consolidated Cash
                  Interest Expense under Section 6.11 of the Credit Agreement
                  shall be less than 1.5 to 1.0, the Support Party shall
                  purchase either (x) additional partnership interests in the
                  Borrower or (y) Subordinated debt of the Borrower, at the
                  Support Party's option, in such amounts as shall enable the
                  Borrower to repay the Revolving Credit Exposures (together
                  with accrued interest thereon and fees and other obligations
                  of the Borrower accrued under the Credit Agreement) and
                  restore the aforesaid ratio to the required level (the
                  purchase price for such additional partnership interests or
                  debt, the "Issuance Price"), such purchase to occur on a date
                  (an Issuance Date") set forth in a notice from the
                  Administrative Agent to the Support Party given no fewer than
                  3 Business Days prior to such Issuance Date (an "Issuance
                  Notice"); and

                        (ii) in the event Borrower fails to repay all or any
                  portion of the Revolving Credit Exposures by their due date
                  (including the

                                       3
<PAGE>

                                                         Support Party Agreement

                  Maturity Date and on the date of any mandatory repayment) the
                  Support Party shall, at the option of the Administrative Agent
                  and from time to time as directed by it, either (x) purchase
                  such of the Properties from the Borrower for the Allocated
                  Collateral Value thereof, (the "Property Purchase Option"), or
                  (y) purchase so much of the right, title and interest of the
                  Lenders in and to their respective Commitments and Revolving
                  Credit Exposures for the Repayment Amount, as defined below,
                  (the "Loan Purchase Option"), in the case of each of (x) and
                  (y) as shall be designated, and on a date (a "Purchase Date")
                  designated in a notice from the Administrative Agent to the
                  Support Party given at least three Business Days prior to such
                  Purchase Date (a "Purchase Notice"). The "Repayment Amount"
                  means the principal of such Revolving Credit Exposures plus
                  accrued interest thereon and fees and other obligations of the
                  Borrower accrued under the Credit Agreement.

                  (b) The Support Party hereby agrees that any debt issued by
            the Borrower to the Support Party in accordance with clause
            (a)(i)(y) of this Section or Revolving Credit Exposures purchased in
            accordance with clause (a)(ii)(y) of this Section shall, in each
            case, be Subordinated to the rights of the Lenders in accordance
            with Section 2.8 hereof.

                  (c) The Support Party acknowledges that it is the intent of
            the parties hereunder to cause the purchases referred to in Sections
            2.1(a)(i) and 2.1(a)(ii)(x) in order to provide the Borrower with
            sufficient funds to repay the Revolving Credit Exposures as and when
            due (together with accrued interest thereon and fees and other
            obligations of the Borrower accrued under the Credit Agreement) and
            restore the ratio under Section 6.11 of the Credit Agreement to the
            required level, as the case may be, and the Support Party hereby
            agrees to cause the Borrower to apply the proceeds thereof to repay
            the Revolving Credit Exposures, and such other amounts due and
            payable, immediately upon receipt of such proceeds.

                  (d) In the event the credit rating assigned to the Index Debt
            falls within Category 2 (as used in the defined term "Applicable
            Margin") as of the end of any fiscal quarter, the Support Party
            hereby agrees to maintain at all times thereafter aggregate
            unutilized commitments under its credit facilities (not including
            the Credit Agreement) in an amount equal to (x) the Revolving

                                        4
<PAGE>
                                                         Support Party Agreement

            Credit Exposure under the Credit Agreement less (y) the quotient of
            (I) the Annualized Consolidated Cash Flow of the Borrower (for the
            immediately preceding four quarters or, if fewer than four quarters
            of the Borrower then exist, then for the period consisting of the
            consecutive fiscal quarters of the Borrower then recently ended)
            over (II) .09.

            SECTION 2.2. Issuance and Purchase Procedures. (a) On each Issuance
Date, each party to the related Issuance Notice shall take the following actions
required of it:

                  (i) If the Issuance Notice is with respect to the purchase of
            additional partnership interests in the Borrower:

                        (x) The Support Party shall tender the Issuance Price to
                  the Borrower in immediately available funds; and

                        (y) The Borrower shall accept such price and issue to
                  the Support Party additional partnership interests in the
                  Borrower.

                  (ii) If the Issuance Notice is with respect to the purchase of
            Subordinated debt of the Borrower:

                        (x) The Support Party shall tender the Issuance Price to
                  the Borrower in immediately available funds; and

                        (y) The Borrower shall accept such price and issue to
                  the Support Party Subordinated debt in accordance with Section
                  2.8.

            (b) On each Purchase Date, each party to the related Purchase Notice
      shall take the following actions required of it:

                  (i) If the Purchase Notice is with respect to the purchase of
            Properties from the Borrower:

                        (x) The Support Party shall tender the Allocated
                  Collateral Value for such Properties to the Borrower in
                  immediately available funds; and

                                       5
<PAGE>
                                                         Support Party Agreement

                        (y) The Borrower shall accept such Allocated Collateral
                  Value for such Properties and deliver to the Support Party
                  title to the Properties.

                  (ii) If the Purchase Notice is with respect to the purchase of
            Revolving Credit Exposures from the Lenders:

                        (x) The Support Party shall (A) tender the Repayment
                  Amount to the Administrative Agent in immediately available
                  funds and (B) execute and deliver to the Administrative Agent
                  an assignment and acceptance with respect to each Lender, and
                  affirmation of Subordination, in each case in form and
                  substance satisfactory to the Administrative Agent; and

                        (y) The Administrative Agent shall (A) accept such
                  Re-payment Amount, (B) deliver to the Support Party a
                  counterpart of each such assignment and acceptance executed by
                  each respective Lender and (C) deliver to Support Party all
                  notes, if any, issued in connection with the assignment of the
                  Revolving Credit Exposures.

            (c) The Support Party may, within three Business Days after the
      Support Party is required to perform any of its payment obligations
      pursuant to this Article II, (i) purchase for the Repayment Amount all of
      the right, title and interest of the Lenders in and to their Revolving
      Credit Exposures, together with all accrued interest thereon and fees and
      other obligations of the Borrower accrued or owing under the Credit
      Agreement and (ii) require the Lenders to assign their respective
      Commitments to the Support Party. The rights of the Support Party under
      this clause (c) shall not otherwise affect the rights of the
      Administrative Agent and the Lenders under Article VII of the Credit
      Agreement.

      SECTION 2.3. Rights of Administrative Agent and Lenders. The Support Party
authorizes the Administrative Agent on behalf of the Lenders to perform any or
all of the following acts at any time in its sole discretion, all without notice
to the Support Party and without affecting the Support Party's obligations under
this Support Party Agreement:

                  (a) The Administrative Agent at the instruction of the Lenders
            pursuant to Section 9.02 of the Credit Agreement may alter any terms
            of the

                                       6
<PAGE>
                                                         Support Party Agreement

            amounts or Commitments outstanding under the Credit Agreement or any
            part thereof, including renewing, compromising, extending or
            accelerating, or otherwise changing the time for payment of, or
            increasing or decreasing the rate of interest on, the amounts
            outstanding under the Credit Agreement or any part thereof.

                  (b) The Administrative Agent or any Lender may take and hold
            security for the amounts or Commitments outstanding under the Credit
            Agreement or this Support Party Agreement, accept additional or
            substituted security for either, and subordinate, exchange, enforce,
            waive, release, compromise, fail to perfect and sell or otherwise
            dispose of any such security.

                  (c) Upon any Event of Default, the Administrative Agent or any
            Lender may direct the order and manner of any sale of all or any
            part of any security now or later to be held for the amounts or
            Commitments outstanding under the Credit Agreement or this Support
            Party Agreement, respectively, and the Administrative Agent or any
            Lender may also bid at any such sale.

                  (d) The Administrative Agent or any Lender may apply any
            payments or recoveries from the Borrower, the Support Party or any
            other source, and any proceeds of any security, to the Borrower's
            obligations under the Credit Agreement in such manner, order and
            priority as the Administrative Agent or such Lender may elect,
            whether or not those obligations are secured at the time of the
            application.

                  (e) The Administrative Agent or any Lender may extend
            additional credit to the Borrower or the Support Party in addition
            to the amounts and Commitments outstanding under the Credit
            Agreement, and may take and hold security for the credit so
            extended.

      SECTION 2.4. Obligations Absolute, etc. The terms of this Support Party
Agreement shall in all respects be continuing, absolute, unconditional and
irrevocable, and shall remain in full force and effect until all amounts
outstanding under the Credit Agreement have been paid in full, all Commitments
have been terminated and all obligations of the Borrower and the Support Party
shall have been paid in full. The liability of the Support Party under this
Support Party Agreement shall be irrevocable irrespective of:

                                        7

<PAGE>
                                                         Support Party Agreement

            (a) any lack of validity, legality or enforceability of the Credit
      Agreement;

            (b) the failure of any Lender or the Administrative Agent:

                  (i) to assert any claim or demand or to enforce any right or
            remedy against any Private Mini Entity or any other Person under the
            provisions of the Credit Agreement or otherwise, or

                  (ii) to exercise any right or remedy against any guarantor of,
            or collateral securing, any amounts or Commitments outstanding under
            the Credit Agreement;

            (c) any change in the time, manner or place of payment of, or in any
      other term of, all or any of the amounts outstanding under the Credit
      Agreement, the Commitments thereunder or any extension, compromise or
      renewal of any of the amounts outstanding under the Credit Agreement or
      Commitments thereunder;

            (d) any reduction, limitation, impairment or termination of the
      amounts or Commitments outstanding under the Credit Agreement, for any
      reason, including any claim of waiver, release, surrender, alteration or
      compromise, and any defense or setoff, counterclaim, recoupment or
      termination whatsoever by reason of the invalidity, illegality,
      nongenuineness, irregularity, compromise, unenforceability of, or any
      other event or occurrence affecting, the amounts or Commitments
      outstanding under the Credit Agreement;

            (e) any amendment to, rescission, waiver, or other modification of,
      or any consent to departure from, any of the terms of the Credit
      Agreement;

            (f) any addition, exchange, release, surrender or nonperfection of
      any collateral, or any amendment to or waiver or release or addition of,
      or consent to departure from, any guaranty, held by the Administrative
      Agent or any Lender securing any of the amounts or Commitments outstanding
      under the Credit Agreement;

                                       8
<PAGE>

                                                         Support Party Agreement

            (g) any failure on the part of the Borrower, any other Private Mini
      Entity or any other Person in complying with its obligations under this
      Support Party Agreement or the Credit Agreement; or

            (h) any other circumstance which might otherwise constitute a
      defense available to, or a legal or equitable discharge of, any Private
      Mini Entity, any surety or any guarantor.

      SECTION 2.5. Reinstatement, etc. The Support Party agrees that this
Support Party Agreement shall continue to be effective or be reinstated, as the
case may be, if at any time any payment (in whole or in part) of any of the
amounts outstanding under the Credit Agreement is rescinded or must otherwise be
restored by the Administrative Agent or any Lender, upon the insolvency,
bankruptcy or reorganization of any Private Mini Entity or otherwise, as though
such payment had not been made.

      SECTION 2.6. Waiver, etc. The Support Party hereby waives:

            (a) All statutes of limitations as a defense to any action or
      proceeding brought against the Support Party by the Administrative Agent
      or any Lender, to the fullest extent permitted by law;

            (b) Any right it may have to require the Administrative Agent or any
      Lender to proceed against the Borrower, proceed against or exhaust any
      security held from the Borrower, or pursue any other remedy in the
      Administrative Agent's or any Lender's power to pursue;

            (c) Any defense based on any claim that the Support Party's
      obligations exceed or are more burdensome than those of the Borrower;

            (d) Any defense based on: (i) any legal disability of the Borrower,
      (ii) any release, discharge, modification, impairment or limitation of the
      liability of the Borrower to the Administrative Agent or any Lender from
      any cause, whether consented to by the Administrative Agent or any Lender
      or arising by operation of law or from any insolvency proceeding and (iii)
      any rejection or disaffirmance of the amounts or Commitments outstanding
      under the Credit Agreement, or any part thereof, or any security held for
      such amounts or Commitments, in any such insolvency proceeding;

                                       9
<PAGE>

                                                         Support Party Agreement

            (e) Any defense based on any action taken or omitted by the
      Administrative Agent or any Lender in any insolvency proceeding involving
      the Borrower, including any election to have the Administrative Agent's or
      that Lender's claim allowed as being secured, partially secured or
      unsecured, any extension of credit by the Lenders to the Borrower in any
      insolvency proceeding, and the taking and holding by the Administrative
      Agent or any Lender of any security for any such extension of credit;

            (f) All presentments, demands for performance, notices of
      nonperformance, protests, notices of protest, notices of dishonor, notices
      of acceptance of this Support Party Agreement and of the existence,
      creation, or incurrence of new or additional indebtedness, and demands and
      notices of every kind;

            (g) Any defense based on or arising out of (i) any defense that the
      Borrower may have to the payment or performance of the amounts outstanding
      under the Credit Agreement or any part thereof, (ii) any defense that the
      Borrower has failed to perform any action required by it hereunder, or in
      the state of any Property or (iii) the financial condition of the
      Borrower; and

            (h) Any defense based on or arising out of any action of the
      Administrative Agent or any Lender described in Sections 2.3 or 2.4 above.

      SECTION 2.7. Borrower's Agreement. The Borrower hereby agrees to (i)
conduct any action as may be necessary in order for the Support Party to comply
with its obligations under this Support Party Agreement, including, but not
limited to, issuing Subordinated debt and partnership interests to the Support
Party and selling its respective Properties to the Support Party in accordance
with Article II and (ii) apply the proceeds of any amounts received from the
Support Party to the payment or prepayment of amounts as and when due under the
Credit Agreement to the Lenders and the Administrative Agent.

      SECTION 2.8. Subordination. In addition to the Support Party's agreement
under Section 2.1(b), the Support Party hereby covenants and agrees that any
rights of the Support Party or any of its subsidiaries, whether now existing or
later arising, to receive payment on account of any indebtedness owed to it by
the Borrower or to receive any payment from the Borrower shall at all times be
Subordinate in accordance with the provisions of Schedule S of the Credit
Agreement ("Schedule S") to the full and prior repayment of the amounts
outstanding under the Credit Agreement.

                                       10
<PAGE>

                                                         Support Party Agreement

Except as expressly provided in Schedule S, neither the Support Party nor any of
its subsidiaries shall be entitled to enforce or receive payment of any sums
hereby Subordinated until the amounts outstanding under the Credit Agreement
have been paid and performed in full and all Commitments terminated, and any
such sums received in violation of this Support Party Agreement or Schedule S
shall be received by the Support Party or its subsidiaries, as applicable, in
trust for the Administrative Agent and the Lenders. The Support Party shall
cause each subsidiary to Subordinate any indebtedness owed to it by the Borrower
in accordance with the terms of this Section 2.8.

                                   ARTICLE III

                         REPRESENTATIONS AND WARRANTIES

            The Support Party represents and warrants to the Administrative
Agent for the benefit of the Lenders that:

      SECTION 3.1. Organization; Powers. The Support Party and each of its
respective subsidiaries is duly organized, validly existing and in good standing
under the laws of the jurisdiction of its organization, has all requisite power
and authority to carry on its business as now conducted and as proposed to be
conducted, is qualified to do business in, and is in good standing in, every
jurisdiction where such qualification IS required. The Support Party and each of
its respective subsidiaries has the power and authority to own or hold under
lease the properties it purports to own or hold under lease, to transact the
business it transacts and proposes to transact, to execute and deliver this
Support Party Agreement and to perform the Transactions.

      SECTION 3.2. Authorization: Enforceability. The Transactions are within
the Support Party's powers and have been duly authorized by all necessary
action. This Support Party Agreement has been duly executed and delivered by the
Support Party and constitutes a legal, valid and binding obligation of the
Support Party, enforceable in accordance with its terms, subject to applicable
bankruptcy, insolvency, reorganization, moratorium or other laws affecting
creditors' rights generally and subject to general principles of equity,
regardless of whether considered in a proceeding in equity or at law.

      SECTION 3.3. Governmental Approvals; No Conflicts. The Transactions (a) do
not require any consent or approval of, registration or filing with, or any
other

                                       11
<PAGE>

                                                         Support Party Agreement

action by, any Governmental Authority, except such as have been obtained or made
and are in full force and effect, (b) will not violate any applicable law,
statute rule or regulation or the charter, by-laws or other organizational
documents of the Support Party (or any of its subsidiaries) or any order, writ,
ruling, injunction or decree of any Governmental Authority, (c) will not violate
or result in a default under any indenture, agreement or other instrument
binding upon the Support Party (or any of its subsidiaries) or its assets, or
give rise to a right thereunder to require any payment to be made by the Support
Party (or any of its subsidiaries), and (d) will not result in the creation or
imposition of any Lien on any asset of the Support Party (or any of its
subsidiaries).

      SECTION 3.4. Properties. (a) The Support Party and each of its
subsidiaries has good title to, or valid leasehold interests in, all its real
and personal property material to its business, except for minor defects in
title that do not interfere with its ability to conduct its business as
currently conducted or to utilize such properties for their intended purposes.

            (b) The Support Party and each of its subsidiaries owns, or is
licensed to use, all trademarks, tradenames, permits, service marks, licenses,
franchises, formulas, copyrights, patents and other intellectual property or
rights with respect to the foregoing, and has obtained assignments of all leases
and other rights of whatever nature, necessary for the present conduct of its
business, without any known conflict with the rights of others which, or the
failure to obtain which, as the case may be, would result in a Material Adverse
Effect on the business, operations, property, assets, nature of assets,
condition (financial or otherwise) or prospects of the Support Party or of the
Support Party and its subsidiaries taken as a whole..

      SECTION 3.5.Litigation and Environmental Matters. (a) There are no
actions, suits or proceedings by or before any arbitrator or Governmental
Authority pending against or, to the knowledge of the Support Party, threatened
against or affecting the Support Party or any of its subsidiaries (i) as to
which there is a reasonable possibility of an adverse determination and that, if
adversely determined, could reasonably be expected, individually or in the
aggregate, to result in a Material Adverse Effect or (ii) that involve this
Support Party Agreement or the Transactions.

            (b) Except with respect to any matter that, individually or in the
aggregate, could not reasonably be expected to result in a Material Adverse
Effect, neither the Support Party nor any of its subsidiaries (i) has failed to
comply with any

                                       12
<PAGE>

                                                         Support Party Agreement

Environmental Law or to obtain, maintain or comply with any permit, license or
other approval required under any Environmental Law, (ii) has become subject to
any Environmental Liability, (iii) has received notice of any claim with respect
to any Environmental Liability or (iv) knows of any basis for any Environmental
Liability.

      SECTION 3.6. Compliance with Laws and Agreements. The Support Party and
each of its subsidiaries is in compliance with all laws, regulations and orders
of any Governmental Authority applicable to it or its property and all
indentures, agreements and other instruments binding upon it or its property,
except where the failure to do so, individually or in the aggregate, could not
reasonably be expected to result in a Material Adverse Effect. No Support Party
Default has occurred and is continuing.

      SECTION 3.7. Investment and Holding; Company Status. Neither the Support
Party nor any of its subsidiaries is (a) an "investment company" as defined in,
or subject to regulation under, the Investment Company Act of 1940, (b) a
"holding company" as defined in, or subject to regulation under, the Public
Utility Holding Company Act of 1935 or (c) subject to any Federal or state
statute or regulation limiting its ability to incur Indebtedness for money
borrowed. Neither the Support Party nor any of its subsidiaries is subject to
the Interstate Commerce Act.

      SECTION 3.8. Taxes. The Support Party and each of its subsidiaries has
timely filed or caused to be filed all Tax returns and reports required to have
been filed and have paid or caused to be paid all Taxes required to have been
paid by it, except (a) Taxes that are being contested in good faith by
appropriate proceedings and for which the Support Party or such subsidiary, as
applicable, has set aside on its books adequate reserves or (b) to the extent
that the failure to do so could not reasonably be expected to result in a
Material Adverse Effect.

      SECTION 3.9. ERISA. No ERISA Event has occurred or is reasonably expected
to occur that, when taken together with all other such ERISA Events for which
liability is reasonably expected to occur, could reasonably be expected to
result in a Material Adverse Effect. The present value of all accumulated
benefit obligations under each Plan (based on the assumptions used for purposes
of Statement of Financial Accounting Standards No. 87) did not, as of the date
of the most recent financial statements reflecting such amounts, exceed by more
than $10,000,000 the fair market value of the assets of such Plan, and the
present value of

                                       13
<PAGE>

                                                         Support Party Agreement

all accumulated benefit obligations of all underfunded Plans (based on the
assumptions used for purposes of Statement of Financial Accounting Standards No.
87) did not, as of the date of the most recent financial statements reflecting
such amounts, exceed by more than $10,000,000 the fair market value of the
assets of all such underfunded Plans.

      SECTION 3.10. Disclosure. The Support Party has disclosed to the
Administrative Agent and the Lenders all agreements, instruments and corporate
or other restrictions to which it or any of its subsidiaries is subject, and all
other matters known to it, that, individually or in the aggregate, could
reasonably be expected to result in a Material Adverse Effect. None of the
information furnished by or on behalf of the Support Party to the Administrative
Agent or any Lender in connection with the negotiation of this Support Party
Agreement or delivered hereunder (as modified or supplemented by other
information so furnished) contains any material misstatement of fact or omits to
state any material fact necessary to make the statements therein, in the light
of the circumstances under which they were made, not misleading.

      SECTION 3.11. Federal Reserve Regulations. Neither the Support Party nor
any of its respective subsidiaries is engaged principally, or as one of its
important activities, in the business of extending credit for the purpose of
purchasing or carrying Margin Stock.

      SECTION 3.12. Environmental and Safety Matters. The Support Party and each
of its subsidiaries has complied in all material respects with all Federal,
state, local and other statutes, ordinances, orders, judgments, rulings and
regulations relating to environmental pollution or to environmental regulation
or control or to employee health or safety. Neither the Support Party nor any of
its subsidiaries has received notice of any material failure so to comply. The
Support Party's and its subsidiaries' facilities do not manage any hazardous
wastes, hazardous substances, hazardous materials, toxic substances, toxic
pollutants or substances similarly denominated, as those terms or similar terms
are used in the Resource Conservation and Recovery Act, the Comprehensive
Environmental Response Compensation and Liability Act, the Hazardous Materials
Transportation Act, the Toxic Substance Control Act, the Clean Air Act, the
Clean Water Act or any other applicable law relating to environmental pollution
or employee health and safety, in violation in any material respect of any law
or any regulations promulgated pursuant thereto. The Support Party is not aware
of any events, conditions or circumstances involving

                                       14
<PAGE>

                                                         Support Party Agreement

environmental pollution or contamination or employee health or safety that could
reasonably be expected to result in material liability on the part of the
Support Party or any of its subsidiaries.

      SECTION 3.13. Financial Statements. The Support Party has heretofore
furnished to the Administrative Agent and the Lenders its consolidated and
consolidating balance sheets and statements of income and cash flows as of and
for the fiscal year ended March 31, 1997, audited by and accompanied by the
opinion of Price Waterhouse, independent public accountants. Such financial
statements present fairly the financial condition and results of operations of
the Support Party and its consolidated subsidiaries as of such date and for such
period. Such balance sheets and the notes thereto disclose all material
liabilities, direct or contingent, of the Support Party and its consolidated
subsidiaries as of the date thereof. Such financial statements were prepared in
accordance with GAAP applied on a consistent basis.

      SECTION 3.14. No Material Adverse Change. There has been no material
adverse change in the business, assets, nature of assets, operations, prospects
or condition, financial or otherwise, of the Support Party and its subsidiaries,
taken as a whole, since March 31 ,1997.

      SECTION 3.15. Agreements. (a) Neither the Support Party nor any of its
subsidiaries is a party to any agreement or instrument or subject to any
corporate restriction that has resulted or could result in a Material Adverse
Effect.

            (b) Neither the Support Party nor any of its subsidiaries is in
      default in any manner under any provision of any indenture or other
      agreement or instrument evidencing Indebtedness, or any other material
      agreement or instrument to which it is a party or by which it or any of
      its properties or assets are or may be bound, where such default could
      result in a Material Adverse Effect.

      SECTION 3.16. Borrower's Business. The Support Party is familiar with
Borrower's financial condition and business operations and has done all
diligence to enter into this Support Party Agreement and has not relied on the
Administrative Agent with respect to such diligence. The Support Party has
received a copy of the Credit Agreement and hereby acknowledges and consents to
the terms and conditions thereunder.

                                       15
<PAGE>

                                                         Support Party Agreement

                                   ARTICLE IV

                                    COVENANTS

            The Support Party covenants and agrees that, so long as any portion
of the amounts outstanding under the Credit Agreement shall remain unpaid or any
portion of the Commitment remains outstanding, it will observe the following
covenants:

      SECTION 4.1. Notices of Material Events. The Support Party will furnish to
the Administrative Agent and each Lender prompt written notice of the following:

            (a) the occurrence of any Support Party Default;

            (b) the filing or commencement of any action, suit or proceeding by
      or before any arbitrator or Governmental Authority against or affecting
      the Support Party or any Affiliate thereof that, if adversely determined,
      could reasonably be expected to result in a Material Adverse Effect;

            (c) the occurrence of any ERISA Event that, alone or together with
      any other ERISA Events that have occurred, could reasonably be expected to
      result in liability of the Support Party and its subsidiaries in an
      aggregate amount exceeding $10,000,000;

            (d) any action by the Support Party pursuant to Article II of this
      Support Party Agreement, or any agreement to do so;

            (e) any provision of this Support Agreement is held to be invalid,
      illegal or unenforceable in any jurisdiction resulting in a Material
      Adverse Effect on the ability of the Support Party to perform its
      obligations hereunder;

            (f) any change by Moody's or S&P in the rating of the Support
      Party's senior, unsecured, non-credit-enhanced long-term indebtedness for
      borrowed money after the date hereof; and

            (g) any other development that results in, or could reasonably be
      expected to result in, a Material Adverse Effect.

                                       16
<PAGE>

                                                         Support Party Agreement

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

      SECTION 4.2. Existence; Conduct of Business. The Support Party will, and
will cause each of its subsidiaries to, do or cause to be done all things
necessary to preserve, renew and keep in full force and effect its legal
existence and the rights, licenses, permits, privileges and franchises material
to the conduct of its business and will maintain and operate such business in
substantially the manner in which it is presently conducted and operated. The
Support Party shall, directly or through its wholly-owned subsidiaries, own and
control not less than 50% of the Voting Stock of the General Partner.

      SECTION 4.3. Payment of Obligations. The Support Party will, and will
cause each of its subsidiaries to, pay its Indebtedness and other obligations
promptly and in accordance with their terms and pay and discharge promptly when
due all taxes, assessments and governmental charges or levies imposed upon it or
upon its income or profits or in respect of its property, before the same shall
become delinquent or in default, as well as all lawful claims for labor,
materials and supplies or otherwise which, if unpaid, might give rise to a Lien
upon such properties or any part thereof; provided, however, that such payment
and discharge shall not be required with respect to any such tax, assessment,
charge, levy or claim so long as the validity or amount thereof shall be
contested in good faith by appropriate proceedings and the Support Party or such
subsidiary of the Support Party shall have set aside on its respective books
adequate reserves with respect thereto.

      SECTION 4.4. Maintenance of Properties; Insurance. The Support Party will,
and will cause each of its subsidiaries to, (a) keep and maintain all property
material to the conduct of its business in good working order and condition,
ordinary wear and tear excepted, and (b) maintain, through a program of self
insurance consistent with sound business practices or with financially sound and
reputable insurance companies, insurance in such amounts and against such risks
as are customarily maintained by companies engaged in the same or similar
businesses operating in the same or similar locations, including public
liability insurance against claims for personal injury or death or property
damage occurring upon, in, about or in connection with the use of any properties
owned, occupied or controlled by it, or as may be required by law.

                                       17
<PAGE>

                                                         Support Party Agreement

      SECTION 4.5. Books and Records; Inspection Rights. The Support Party 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 dealings and
transactions in relation to its respective business and activities. The
Support Party will, and will cause each of its subsidiaries to, permit any
representatives designated by the Administrative Agent or any Lender through the
Administrative Agent, upon reasonable prior notice, to visit and inspect its
properties, to examine and make extracts from its books and records, and to
discuss its affairs, finances and condition with its officers and independent
accountants, all at such reasonable times and as often as reasonably requested.

      SECTION 4.6. Compliance with Laws. The Support Party will, and will cause
each of its subsidiaries to, comply with all laws, rules, regulations and orders
of any Governmental Authority, whether now in effect or hereafter enacted,
applicable to it or its property, except where the failure to do so,
individually or in the aggregate, could not reasonably be expected to result in
a Material Adverse Effect.

      SECTION 4.7. Financial Statements, Reports, etc. The Support Party will
furnish to the Administrative Agent and each Lender:

            (a) as soon as practicable and in any event within 60 days after the
      end of each fiscal quarter, (i) consolidated balance sheets of the Support
      Party and its subsidiaries and (ii) consolidated balance sheets of the
      Support Party, each as at the end of such period, and the related
      statements of income, stockholders' equity and cash flows for such fiscal
      quarter, setting forth in each case in comparative form the figures for
      the corresponding periods of the previous fiscal year (but together with
      the consolidating intercompany eliminations and adjustments in the case of
      (i) and (ii)), all in reasonable detail and certified by a Financial
      Officer of the Support Party that they fairly present the financial
      condition of the Support Party and its subsidiaries as at the date
      indicated and the results of their operations and changes in their
      financial position for the periods indicated, subject to changes resulting
      from audit and normal year-end adjustment;

            (b) as soon as practicable and in any event within 120 days after
      the end of each fiscal year of the Support Party, consolidated balance
      sheets of the Support Party and its subsidiaries, as at the end of such
      year, and the related consolidated statements of income, stockholders'
      equity and cash

                                       18
<PAGE>

                                                         Support Party Agreement

      flows for such fiscal year, setting forth in each case, in comparative
      form the consolidated figures for the previous year, all in reasonable
      detail and accompanied by a report thereon of Price Waterhouse or other
      independent certified public accountants of recognized national standing
      selected by the Support Party and reasonably satisfactory to the Required
      Lenders, which report shall be unqualified as to going concern and scope
      of audit and shall state that such consolidated financial statements
      present fairly, in all material respects, the financial position of the
      Support Party and its subsidiaries, as at the dates indicated, and the
      results of their operations and cash flows for the periods indicated in
      conformity with GAAP (applied on a basis consistent with prior years
      unless as otherwise stated therein) and that the examination by such
      accountants in connection with such consolidated financial statements has
      been made in accordance with generally accepted auditing standards;

            (c) together with each delivery of financial statements of the
      Support Party and its subsidiaries pursuant to Sections 4.7(a) and (b)
      above, (i) a certificate of a Financial Officer stating that the signer
      thereof has reviewed the terms of this Support Party Agreement and has
      made, or caused to be made, a review in reasonable detail of the
      transactions and condition of the Support Party and its subsidiaries
      during the accounting period covered by such financial statements and that
      such review has not disclosed the existence during or at the end of such
      accounting period, and that the signer does not have knowledge of the
      existence as at the date of such certificate, of any condition or event
      which constitutes a Support Party Default, or, if any such condition or
      event existed or exists, specifying the nature and period of existence
      thereof and what action the Support Party has taken, is taking and
      proposes to take with respect thereto;

            (d) together with each delivery of financial statements of the
      Support Party and its subsidiaries pursuant to Section 4.7(b) above, a
      written statement by the independent public accountants giving the report
      thereon (i) stating that their audit examination has included a review of
      the terms of this Support Party Agreement as they relate to accounting
      matters, (ii) stating whether, in connection with their audit examination,
      any condition or event which constitutes a Support Party Default has come
      to their attention, and if such a condition or event has come to their
      attention, specifying the nature and period of existence thereof; provided
      that such accountants shall not be liable by reason of any failure to
      obtain knowledge of any such Support Party

                                       19
<PAGE>

                                                         Support Party Agreement

      Default that would not be disclosed in the course of their audit
      examination, and (iii) stating that based on their audit examination
      nothing has come to their attention that causes them to believe that
      either or both the information contained in the certificates delivered
      therewith pursuant to Section 4.7(b) above is not correct;

            (e) promptly upon request therefor, copies of all reports submitted
      to the Support Party by independent public accountants in connection with
      each annual, interim or special audit of the financial statements of the
      Support Party made by such accountants, including any comment letter
      submitted by such accountants to management in connection with their
      annual audit;

            (f) promptly upon their becoming available, copies of all (i)
      financial statements, reports, notices and proxy statements sent or made
      available generally by the Support Party to its security holders or by any
      of its subsidiaries to its security holders other than the Support Party
      or another of its subsidiaries, (ii) regular and periodic reports and all
      registration statements and prospectuses, if any, filed by the Support
      Party or any of its subsidiaries with any securities exchange or with the
      Securities and Exchange Commission or any Governmental Authority
      succeeding to any of its functions, and (iii) press releases and other
      statements made available generally by the Borrower or any of it
      Subsidiaries to the public concerning material developments in the
      business of the Support Party and its subsidiaries;

            (g) promptly upon any officer of the Support Party obtaining
      knowledge (i) of any condition or event which constitutes a Support Party
      Default, or becoming aware that any Lender or the Administrative Agent has
      given any notice or taken any other action with respect to a claimed
      Support Party Default under this Support Party Agreement, (ii) that any
      Person has given any notice to the Support Party or any of its
      subsidiaries of the Support Party or taken any other action with respect
      to a claimed default or event or condition of the type referred to in
      paragraph (c) of Article V or (iii) of any condition or event that might
      have a Material Adverse Effect, a certificate of a Financial Officer
      specifying the nature and period of existence of any such condition or
      event, or specifying the notice given or action taken by such holder or
      Person and the nature of such claimed default, Support Party

                                       20
<PAGE>

                                                         Support Party Agreement

      Default, event or condition, and what action the Support Party has taken,
      is taking and proposes to take with respect thereto;

            (h) promptly upon any officer of the Support Party obtaining
      knowledge of (i) the institution of, or threat of any action, suit,
      proceeding, governmental investigation or arbitration against or affecting
      the Support Party or any of its subsidiaries or any property of the
      Support Party or any of its subsidiaries not previously disclosed by the
      Support Party to the Lenders, or (ii) any material development in any
      action, suit, proceeding, governmental investigation or arbitration,
      which, in either case, if adversely determined, might have a Material
      Adverse Effect, the Support Party shall promptly give notice thereof to
      the Lenders and provide such other information as may be reasonably
      available to it to enable the Lenders and their counsel to evaluate such
      matters; and

            (i) with reasonable promptness, such other information and data with
      respect to the Support Party or any of its subsidiaries as from time to
      time may be reasonably requested by any Lender.

      SECTION 4.8. Pari Passu Ranking. The Support Party shall take, or cause to
be taken, all action that may be or become necessary or appropriate to ensure
that its obligations under this Support Party Agreement will continue to rank at
least pari passu in right of payment with all other present and fixture
unsecured Indebtedness of the Support Party (including, but not limited to,
Indebtedness owing under the 5-Year Credit Facility).

      SECTION 4.9. Equal Security for Revolving Credit Exposure. In the event
the Support Party shall create, incur, assume or permit to exist any Lien upon
any of its property or assets, whether now owned or hereafter acquired, other
than Liens permitted pursuant to the provisions of Section 6.04 of the 5-Year
Credit Facility (unless prior written consent to the creation or assumption
thereof shall have been obtained from the Required Lenders), the Support Party
shall make or cause to be made, at the request of the Required Lenders,
effective provision whereby the Support Party's obligations hereunder will be
secured by such Lien equally and ratably with any and all other Indebtedness
thereby secured as long as any such other Indebtedness shall be so secured.

                                       21
<PAGE>
                                                         Support Party Agreement

                                    ARTICLE V

                              SUPPORT PARTY DEFAULT

            Each of the following events shall constitute an event of default
under this Support Party Agreement (a "Support Party Default"):

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

             (b) the Borrower or the Support Party shall fail to observe or
       perform any covenant, condition or agreement contained in Section 2.1 or
       2.2 of this Support Party Agreement;

             (c) the Borrower or the Support Party shall fail to observe or
       perform any covenant, condition or agreement other than as provided in
       this Support Party Agreement (other than as referred to in clause (b) of
       this Article) and such failure shall continue unremedied for a period of
       30 days after notice thereof from the Administrative Agent to the Support
       Party (which notice shall be given at the request of the Administrative
       Agent or any Lender through the Administrative Agent);

             (d) any event or condition occurs that results in any Material
       Indebtedness (including amounts outstanding under the 5-Year Credit
       Facility) becoming due prior to its scheduled maturity or that enables or
       permits (with or without the giving of notice, the lapse of time, or
       both) the holder or holders of any such Material Indebtedness or any
       trustee or agent on its or their behalf to cause any such Material
       Indebtedness to become due, or to require the prepayment, repurchase,
       redemption or defeasance thereof, prior to its scheduled maturity;

                                       22
<PAGE>
                                                         Support Party Agreement

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

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

             (g) the Support Party shall become unable, admit in
       writing or fail generally to pay its debts as they become due;

             (h) one or more judgments for the payment of money in an aggregate
      amount in excess of $1,000,000 shall be rendered against the Support
      Party, any of its subsidiaries or any combination thereof and the same
      shall remain undischarged for a period of 30 consecutive days during which
      execution shall not be effectively stayed, or any action shall be legally
      taken by a judgment creditor to attach or levy upon any assets of the
      Support Party or any of its subsidiaries to enforce any such judgment;

             (i) an ERISA Event shall have occurred that, in the opinion of the
      Administrative Agent, when taken together with all other ERISA Events that

                                       23
<PAGE>
                                                         Support Party Agreement

       have occurred, could reasonably be expected to result in a
       Material Adverse Effect; and

             (j) a Change of Control (as defined in the 5-Year Facility)
       shall have occurred.

 then, in addition to any rights the Administrative Agent or the Lenders may
 have under the Credit Agreement, and irrespective of whether (i) such Support
 Party Default is the result, directly or indirectly, of the failure of the
 Support Party, the Borrower, any other Private Mini Entity or any other Person
 in complying with its obligations under this Support Party Agreement or (ii)
 any amounts outstanding under the Credit Agreement have become or have been
 declared immediately due and payable under Article VII of the Credit Agreement
 or if the Commitments have been terminated thereunder, the Administrative Agent
 may, and at the request of the Required Lenders shall, proceed to protect and
 enforce the rights of the Lenders by an action at law, a suit in equity or
 other appropriate proceeding, whether for specific performance of any agreement
 contained herein, or for an injunction against a violation of any terms hereof,
 or in aid of the exercise of any power granted hereby or by law or otherwise.

                                   ARTICLE VI

                            MISCELLANEOUS PROVISIONS

       SECTION 6.1. Binding on Successors, Transferees and Assigns; Assignment
 of Support Party Agreement. This Support Party Agreement shall be binding upon
 the Support Party and its successors, transferees and assigns and shall inure
 to the benefit of and be enforceable by the Administrative Agent on behalf of
 the Lenders and their respective permitted successors and assigns; provided,
 however, that the Support Party may not assign any of its obligations hereunder
 without the prior written consent of all of the Lenders in accordance with
 Section 9.02 of the Credit Agreement.

       SECTION 6.2. Amendments, etc. No amendment to or waiver of any provision
of this Support Party Agreement, nor consent to any departure by the Support
Party herefrom, shall in any event be effective unless the same shall be in
writing and signed by the Administrative Agent, and then such waiver or consent

                                       24
<PAGE>
                                                         Support Party Agreement

 shall be effective only in the specific instance and for the specific purpose
 for which given; provided that any amendment, waiver or consent with respect to
 Article I1 shall require the approval of all of the Lenders.

       SECTION 6.3. Addresses for Notices. Except in the case of notices and
 other communications expressly permitted to be given by telephone, all notices
 and other communications provided for herein shall be in writing and shall be
 delivered by hand or overnight courier service, mailed by certified or
 registered mail or sent by telecopy, as follows:

             (a) if to the Borrower or the Administrative Agent, as
       provided in Section 9.01 of the Credit Agreement; and

             (b) if to the Support Party, to it at 1325 Airmotive Way,
       Suite 100, Reno, Nevada 89502-3239, Attention of Rocky Wardrip
       (Telecopy No. (702) 688-6338).

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

       SECTION 6.4. No Waiver; Remedies. No failure on the part of the
Administrative Agent to exercise, and no delay in exercising, any right
hereunder (including, but not limited to, the issuance of the Issuance Notice or
Purchase Notice) shall operate as a waiver thereof; nor shall any single or
partial exercise of any right hereunder preclude any other or further exercise
thereof or the exercise of any other right. The remedies herein provided are
cumulative and not exclusive of any remedies provided by law.

       SECTION 6.5. Section Captions. Section captions used in this Support
Party Agreement are for convenience of reference only, and shall not affect the
construction of this Support Party Agreement.

                                       25
<PAGE>
                                                         Support Party Agreement

       SECTION 6.6. Severability. Wherever possible each provision of this
 Support Party Agreement shall be interpreted in such manner as to be effective
 and valid under applicable law, but if any provision of this Support Party
 Agreement shall be prohibited by or invalid under such law, such provision
 shall be ineffective to the extent of such prohibition or invalidity, without
 invalidating the remainder of such provision or the remaining provisions of
 this Support Party Agreement.

       SECTION 6.7. Termination of Support Party Agreement. The Support Party's
 obligations under this Support Party Agreement shall terminate (a) on the date
 upon which all amounts outstanding under the Credit Agreement have been paid in
 full, the Commitments terminated and all other obligations under the Credit
 Agreement and this Support Party Agreement shall have been fully and finally
 discharged or (b) upon consummation of the transactions referred to in clauses
 (i) and (ii) of Section 2.2(c) of this Support Party Agreement; provided that
 the agreements in Section 6.12 of this Support Party Agreement shall survive.

       SECTION 6.8. Governing Law. THIS Support Party Agreement SHALL BE
 GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE INTERNAL LAWS OF THE
 STATE OF NEW YORK.

       SECTION 6.9. Waiver of Jury Trial. THE SUPPORT PARTY HEREBY KNOWINGLY,
VOLUNTARILY AND INTENTIONALLY WAIVES ANY RIGHTS IT MAY HAVE TO A TRIAL BY JURY
IN RESPECT OF ANY LITIGATION BASED HEREON, OR ARISING OUT OF, UNDER, OR IN
CONNECTION WITH, THIS SUPPORT PARTY AGREEMENT. THE SUPPORT PARTY ACKNOWLEDGES
AND AGREES THAT IT HAS RECEIVED FULL AND SUFFICIENT CONSIDERATION FOR THIS
PROVISION AND THAT THIS PROVISION IS A MATERIAL INDUCEMENT FOR THE
ADMINISTRATIVE AGENT AND THE LENDERS ENTERING INTO THE CREDIT AGREEMENT.

       SECTION 6.10. Consent to Jurisdiction; Waiver of Immunities.
 The Support Party hereby acknowledges and agrees that:

            (a) It irrevocably submits to the jurisdiction of any federal court
      sitting in the Southern District of New York in any action or proceeding
      arising out of or relating to this Support Party Agreement, and the
      Support Party hereby irrevocably agrees that all claims in respect of such
      action or

                                       26
<PAGE>
                                                         Support Party Agreement

       proceeding may be heard and detennined in such federal court. The Support
       Party hereby irrevocably waives, to the fullest extent it may effectively
       do so, the defense of an inconvenient forum to the maintenance of such
       action or proceeding. The Support Party agrees that a final, unappealable
       judgment in any such action or proceeding shall be conclusive and may be
       enforced in other jurisdictions by suit on the judgment or in any other
       manner provided by law.

           (b) It hereby irrevocably designates, appoints and empowers C.T.
       Corporation System, presently located at 1633 Broadway, New York, New
       York 10019 (together with any successor thereto, the "Service of Process
       Agent"), as its designee, appointee and agent to receive, accept and
       acknowledge for and on its behalf, and in respect of its properties,
       service of any and all legal process, summons, notices and documents
       which may be served in any such action or proceeding. If for any reason
       the Service of Process shall cease to be available to act as such, the
       Support Party agrees to designate a new Service of Process Agent in New
       York City on the terms and for the purposes of this provision
       satisfactory to the Administrative Agent. The Support Party further
       irrevocably consents to service of process in the manner provided for
       notices in Section 6.3. Nothing in this Support Agreement will affect the
       right of any party to this Support Agreement to serve process in other
       manner permitted by law.

             (c) Nothing in this Section shall affect the right of the
       Administrative Agent or any Lender to serve legal process in any manner
       permitted by law affect the right of the Administrative Agent or any
       Lender to bring any or proceeding against the Support Party or its
       property in the courts of any other jurisdictions.

       SECTION 6.11. Right of Setoff. If a Support Party Default shall have
occurred and be continuing, the Administrative Agent, each Lender and each of
its Affiliates is hereby authorized at any time and from time to time, to the
hllest permitted by law, to set off and apply any and all deposits (general or
special, time demand, provisional or final) at any time held and other
obligations at any time owing by such Administrative Agent, Lender or Affiliate
to or for the credit or the account of the Support Party against any of and all
the obligations of the Support Party now or hereafter existing under this
Support Party Agreement held by such Lender, irrespective of whether or not such
Lender shall have made any demand

                                       27
<PAGE>
                                                         Support Party Agreement

under this Support Party Agreement and although such obligations may be
unmatured. The rights of each Lender under this Section are in addition to other
rights and remedies (including other rights of setoff) which such Lender may
have.

       SECTION 6.12. Expenses; Indemnity: Damage Waiver. (a) The Support
Party shall pay (i) all reasonable out-of-pocket expenses incurred by the
Administrative Agent and its Affiliates, including the reasonable fees,
charges and disbursements of counsel for the Administrative Agent, in
connection with the preparation and administration of this Support Party
Agreement or any amendments, modifications or waivers of the provisions
hereof (whether or not the transactions contemplated hereby or thereby
shall be consummated) and (ii) all out-of-pocket expenses incurred by the
Administrative Agent or any Lender, including the fees, charges and
disbursements of any counsel for the Administrative Agent or any Lender,
in connection with the enforcement or protection of its rights in
connection with this Support Party Agreement, including its rights under
this Section.

             (b) The Support Party shall indemnify and hold harmless the Admin-
       istrative Agent, each Lender and each of their respective officers,
       directors, employees, counsel, agents and attorneys-in-fact (each, an
       "Indemnified Person") from and against and pay them for any and all
       liabilities, obligations, losses, damages, penalties, actions,
       judgments, suits, costs, charges, expenses or disbursements (including
       attorney costs) of any kind or nature whatsoever with respect to the
       execution, delivery and enforcement of this Support Party Agreement, or
       the Transactions, and with respect to any actual or prospective claim,
       litigation, investigation or proceeding relating to any of the foregoing,
       whether based on contract, tort or any other theory and regardless of
       whether any Indemnitee is a party thereto related to this Support Party
       Agreement, whether or not any Indemnified Person is a party thereto (all
       the foregoing, collectively, the "Indemnified Liabilities"); provided,
       that the Support Party shall have no obligation hereunder to any
       Indemnified Person with respect to Indemnified Liabilities directly
       arising from the gross negligence or willful misconduct of such
       Indemnified Person as determined by a court of competent jurisdiction.
       The agreements in this Section 6.12 shall survive payment of the amounts
       outstanding under the Credit Agreement and termination of the Commitments
       thereunder.

             (c) To the extent permitted by applicable law, the Support Party
       shall not assert, and hereby waives, any claim against any Indemnitee, on
       any

                                       28
<PAGE>
                                                         Support Party Agreement

       theory of liability, for special, indirect, consequential or punitive
       damages (as opposed to direct or actual damages) arising out of, in
       connection with, or as a result of, this Support Party Agreement or any
       agreement or instrument contemplated hereby or the Transactions.

             (d) All amounts due under this Section shall be payable promptly
       after written demand therefor.

                                       29
<PAGE>
                                                         Support Party Agreement

       IN WITNESS WHEREOF, the Support Party and the Borrower have each caused
this Support Party Agreement to be duly executed and delivered by its officer
thereunto duly authorized as of the date first above written.

                              AMERCO,
                              as Support Party

                              By  /s/ Gary B. Horton
                                 ----------------------------------
                                 Name:
                                 Title:

                              PRIVATE MINI STORAGE REALTY, L.P.

                                     By STORAGE REALTY L.L.C., as
                                     general partner

                              By
                                 ----------------------------------
                                 Name:
                                 Title:

Agreed to and accepted by:

THE CHASE MANHATTAN BANK, as
Administrative Agent

       BY
         -------------------------------------
         Name:
         Title:
<PAGE>
                                                         Support Party Agreement

       IN WITNESS WHEREOF, the Support Party and the Borrower have each caused
 this Support Party Agreement to be duly executed and delivered by its officer
 thereunto duly authorized as of the date first above written.

                              AMERCO,
                              as Support Party

                              By
                                 ----------------------------------
                                 Name:
                                 Title:

                              PRIVATE MINI STORAGE REALTY, L.P.

                                     By STORAGE REALTY L.L.C., as
                                     general partner

                              By  /s/ Doug Mulvaney
                                 ----------------------------------
                                 Name:Doug Mulvaney
                                 Title: Manager

Agreed to and accepted by:

THE CHASE MANHATTAN BANK, as
Administrative Agent

          By
             ----------------------------------
             Name:
             Title:
<PAGE>
                                                         Support Party Agreement

       IN WITNESS WHEREOF, the Support Party and the Borrower have each caused
this Support Party Agreement to be duly executed and delivered by its officer
thereunto duly authorized as of the date first above written.

                              AMERCO,
                              as Support Party

                              By
                                 ----------------------------------
                                 Name:
                                 Title:

                              PRIVATE MINI STORAGE REALTY, L.P.

                                     By STORAGE REALTY L.L.C., as
                                     general partner

                              By
                                 ----------------------------------
                                 Name:
                                 Title:

Agreed to and accepted by:

THE CHASE MANHATTAN BANK, as
Administrative Agent

    By /s/ Lawrence Palumbo Jr.
       ----------------------------------
       Name: Lawrence Palumbo, Jr.
       Title:  Vice President

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