Document:

exv10w1

 

Exhibit 10.1

Execution Version

 

 

GUARANTY AGREEMENT

dated as of

August 29, 2007

Between

NISOURCE INC.,

as the Guarantor

and

JPMORGAN CHASE BANK, N.A.,

as the Administrative Agent

 

 

 

 

TABLE OF CONTENTS

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Page
	 
	 	 	 	 	 	 	 	 
	ARTICLE I. DEFINITIONS; ACCOUNTING TERMS; INTERPRETATION	 	 	1	 
	 

	 	Section 1.01
	 	Defined Terms
	 	 	1	 
	 

	 	Section 1.02
	 	Accounting Terms; Changes in GAAP
	 	 	6	 
	 

	 	Section 1.03
	 	Interpretation
	 	 	6	 
	 
	 	 	 	 	 	 	 	 
	ARTICLE II. PERCENTAGE GUARANTY	 	 	7	 
	 

	 	Section 2.01
	 	Percentage Guaranty by Guarantor
	 	 	7	 
	 

	 	Section 2.02
	 	Guarantor’s Option to Assume Obligations of Other Guarantor(s)
	 	 	10	 
	 

	 	Section 2.03
	 	Unconditional and Continuing Guaranty
	 	 	11	 
	 

	 	Section 2.04
	 	Subrogation
	 	 	14	 
	 

	 	Section 2.05
	 	Excess Recovery
	 	 	14	 
	 

	 	Section 2.06
	 	Effect of Debtor Relief Laws
	 	 	15	 
	 

	 	Section 2.07
	 	Waiver
	 	 	15	 
	 

	 	Section 2.08
	 	Full Force and Effect
	 	 	16	 
	 
	 	 	 	 	 	 	 	 
	ARTICLE III. REPRESENTATIONS AND WARRANTIES	 	 	16	 
	 

	 	Section 3.01
	 	Organization and Qualification
	 	 	16	 
	 

	 	Section 3.02
	 	Authorization, Validity, Etc.
	 	 	16	 
	 

	 	Section 3.03
	 	Governmental Consents, Etc.
	 	 	16	 
	 

	 	Section 3.04
	 	No Breach or Violation of Agreements or Restrictions, Etc.
	 	 	17	 
	 

	 	Section 3.05
	 	Properties
	 	 	17	 
	 

	 	Section 3.06
	 	Litigation and Environmental Matters
	 	 	17	 
	 

	 	Section 3.07
	 	Financial Statements
	 	 	17	 
	 

	 	Section 3.08
	 	Disclosure
	 	 	17	 
	 

	 	Section 3.09
	 	Investment Company Act
	 	 	18	 
	 

	 	Section 3.10
	 	ERISA
	 	 	18	 
	 

	 	Section 3.11
	 	Tax Returns and Payments
	 	 	18	 
	 

	 	Section 3.12
	 	Compliance with Laws and Agreements
	 	 	18	 
	 

	 	Section 3.13
	 	Foreign Assets Control Regulations, etc.
	 	 	18	 
	 
	 	 	 	 	 	 	 	 
	ARTICLE IV. AFFIRMATIVE COVENANTS	 	 	19	 
	 
	 	 	 	 	 	 	 	 
	ARTICLE V. NEGATIVE COVENANTS	 	 	19	 
	 
	 	 	 	 	 	 	 	 
	ARTICLE VI. Events of Default	 	 	19	 
	 
	 	 	 	 	 	 	 	 
	ARTICLE VII. MISCELLANEOUS	 	 	20	 
	 

	 	Section 7.01
	 	Notices, Etc.
	 	 	20	 

i 

 

TABLE OF CONTENTS

(continued)

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Page
	 
	 	 	 	 	 	 	 	 
	 

	 	Section 7.02
	 	Waivers; Amendments
	 	 	21	 
	 

	 	Section 7.03
	 	Successors and Assigns
	 	 	21	 
	 

	 	Section 7.04
	 	Survival
	 	 	22	 
	 

	 	Section 7.05
	 	Counterparts; Integration; Effectiveness
	 	 	22	 
	 

	 	Section 7.06
	 	Severability
	 	 	22	 
	 

	 	Section 7.07
	 	Right of Setoff
	 	 	22	 
	 

	 	Section 7.08
	 	Governing Law; Jurisdiction; Consent to Service of Process
	 	 	22	 
	 

	 	Section 7.09
	 	WAIVER OF JURY TRIAL
	 	 	23	 
	 

	 	Section 7.10
	 	Confidentiality
	 	 	24	 
	 

	 	Section 7.11
	 	EXCULPATION PROVISIONS
	 	 	24	 
	 

	 	Section 7.12
	 	U.S. Patriot Act
	 	 	25	 

ii

 

GUARANTY AGREEMENT

     THIS GUARANTY AGREEMENT, dated as of August 29, 2007 to be effective as of the Effective Date
(this “Agreement”) is between:

     (a) NiSource Inc., a Delaware corporation (the “Guarantor”); and

     (b) JPMorgan Chase Bank, N.A, a national banking association, as the administrative agent for
the Lenders party to the below-mentioned Credit Agreement (in such capacity, together with any
other Person that becomes Administrative Agent pursuant to Section 8.08 thereof, the
“Administrative Agent”).

PRELIMINARY STATEMENTS

     Reference is made to the Credit Agreement dated as of the date hereof (the “Credit
Agreement”), among Millennium Pipeline Company, L.L.C., a Delaware limited liability company
(“Millennium”), the lenders party thereto (together with each other person who becomes a
lender thereunder, collectively, the “Lenders”), the Administrative Agent and the other
agents named therein. It is a condition precedent to the effectiveness of the Credit Agreement
that the Guarantor shall have executed and delivered this Agreement.

     Now therefore, in consideration of the foregoing and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto
agree as follows:

ARTICLE I.

DEFINITIONS; ACCOUNTING TERMS; INTERPRETATION

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

     “Accelerated Amount” has the meaning specified in each of Sections 2.01(e) and
2.01(f).

     “Administrative Agent” has the meaning specified in the introduction to this
Agreement.

     “Affiliate” of any Person means (i) any Person directly or indirectly controlled by,
controlling or under common control with such first Person (ii) any director or officer of such
first Person or of any Person referred to in clause (i) above and (iii) if any Person in clause (i)
above is an individual, any member of the immediate family (including parents, siblings, spouse and
children) of such individual and any trust whose principal beneficiary is such individual or one or
more members of such immediate family and any Person who is controlled by any such member or trust.
For purposes of this definition, any Person that owns directly or indirectly 20% or more of the
securities having ordinary voting power for the election of directors or other governing body of a
corporation or 20% or more of the partnership or other ownership interests of any other Person
(other than as a limited partner of such other Person) will be deemed to “control” (including, with
its correlative meanings, “controlled by” and “under common control with”) such corporation or
other Person.

 

 

     “Agreement” has the meaning specified in the introduction to this Agreement (subject,
however, to Section 1.03(v)).

     “Approved Guarantor” has the meaning specified in the Credit Agreement.

     “Bankruptcy Code” has the meaning specified in Section 2.01(a).

     “Benefit Arrangement” has the meaning specified in the Credit Agreement.

     “Board of Directors” has the meaning specified in the Credit Agreement.

     “Business Day” has the meaning specified in the Credit Agreement.

     “Capital Lease Obligations” has the meaning specified in the Credit Agreement.

     “Capital Stock” has the meaning specified in the Credit Agreement.

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

     “Commitment” has the meaning specified in the Credit Agreement.

     “Communications” has the meaning specified in Section 7.01.

     “Credit Agreement” has the meaning specified in the Preliminary Statements.

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

     “Default Rate” means the applicable interest rate specified in Section 2.11(c)
of the Credit Agreement.

     “Defaulted Payment” has the meaning specified in Section 2.01(d).

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

     “DTE” means DTE Energy Company, a corporation organized under the laws of the State of
Michigan.

     “Effective Date” has the meaning specified in the Credit Agreement.

     “Environmental Laws” has the meaning specified in the Credit Agreement.

     “Environmental Liability” means any liability, contingent or otherwise (including any
liability for damages, costs of environmental remediation, fines, penalties or indemnities), of the
Guarantor or any Subsidiary of the Guarantor directly or indirectly resulting from or based upon
(a) violation of any Environmental Law, (b) the generation, use, handling, transportation, storage,
treatment or disposal of any Hazardous Materials, (c) exposure to any Hazardous Materials, (d) the
release of any Hazardous Materials into the environment, or (e) any contract,

2

 

agreement or other consensual arrangement pursuant to which liability is assumed or imposed
with respect to any of the foregoing.

     “ERISA” has the meaning specified in the Credit Agreement.

     “ERISA Group” means the Guarantor, any Subsidiary of the Guarantor and all members of
a controlled group of corporations and all trades or businesses (whether or not incorporated) under
common control which, together with the Guarantor or any Subsidiary of the Guarantor, are treated
as a single employer under Section 414 of the Code.

     “Event of Default” has the meaning specified in Article VI.

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

     “Execution Date” means the earliest date upon which all of the following shall have
occurred: counterparts of this Agreement shall have been executed by the Guarantor and the
Administrative Agent, and the latter shall be in possession of counterparts hereof which taken
together, bear the signatures of both.

     “GAAP” has the meaning specified in the Credit Agreement.

     “Governmental Authority” has the meaning specified in the Credit Agreement.

     “Guarantee” of or by any Person (the “guarantor”) means any obligation,
contingent or otherwise, of the guarantor guaranteeing or having the economic effect of
guaranteeing any Indebtedness or other obligation of any other Person (the “primary
obligor”) in any manner, whether directly or indirectly, and including any obligation of the
guarantor, direct or indirect, (a) to purchase or pay (or advance or supply funds for the purchase
or payment of) such Indebtedness or other obligation or to purchase (or to advance or supply funds
for the purchase of) any security for the payment thereof, (b) to purchase or lease property,
securities or services for the purpose of assuring the owner of such Indebtedness or other
obligation of the payment thereof, (c) to maintain working capital, equity capital or any other
financial statement condition or liquidity of the primary obligor so as to enable the primary
obligor to pay such Indebtedness or other obligation or (d) as an account party in respect of any
letter of credit or letter of guaranty issued to support such Indebtedness or obligation; provided,
that the term Guarantee shall not include endorsements for collection or deposit in the ordinary
course of business.

     “Guaranteed Obligations” has the meaning specified in Section 2.01(a).

     “Guarantor” has the meaning specified in the introduction to this Agreement.

     “Guarantor’s Credit Agreement” means the Amended and Restated Revolving Credit
Agreement, dated as of 7 July 2006, among NiSource Finance Corp., NiSource and, among others, the
lenders and agents party thereto, as the same has been and may be amended or restated from time to
time and any similar agreement that replaces or refinances such Guarantor’s Credit Agreement.

3

 

     “Guarantor’s Share” has the applicable meaning specified in Section 2.05(a) or
Section 2.05(b), as the case may be.

     “Hazardous Materials” has the meaning specified in the Credit Agreement.

     “Hedging Agreement” has the meaning specified in the Credit Agreement.

     “Indebtedness” has the meaning specified in the Credit Agreement.

     “Initial Guarantor” means each of the Guarantor and each Other Initial Guarantor.

     “Issuing Banks” has the meaning specified in the Credit Agreement.

     “Keyspan” means Keyspan Corporation, a corporation organized under the laws of the
State of New York.

     “LC Disbursement” has the meaning specified in the Credit Agreement.

     “Lenders” has the meaning specified in the Preliminary Statements.

     “Letter of Credit” has the meaning specified in the Credit Agreement.

     “Lien” has the meaning specified in the Credit Agreement.

     “Loan Documents” has the meaning specified in the Credit Agreement and includes this
Agreement and each Other Guaranty Agreement.

     “Loans” has the meaning specified in the Credit Agreement.

     “Material Adverse Effect” means, relative to any occurrence of whatever nature, a
material adverse effect on (a) the business, assets, liabilities or financial condition of the
Guarantor and its Subsidiaries taken as a whole, (b) the ability of the Guarantor to perform its
obligations hereunder or under any other Loan Document or (c) the rights of the Administrative
Agent, any Issuing Bank or any Lender against the Guarantor under any material provision of this
Agreement or any other Loan Document.

     “Millennium” has the meaning specified in the Preliminary Statements.

     “Multiemployer Plan” has the meaning specified in the Credit Agreement.

     “NiSource” means NiSource Inc., a corporation organized under the laws of the State of
Delaware.

     “Note” has the meaning specified in the Credit Agreement

     “Obligations” has the meaning specified in the Credit Agreement.

     “Other Guarantor” means the Other Initial Guarantors and, if it shall become a party
as a guarantor to an Other Guaranty Agreement, an Approved Guarantor.

4

 

     “Other Guaranty Agreement” means an agreement of Guarantee to which an Other Guarantor
is party as guarantor; provided that each Other Guaranty Agreement entered into by an Approved
Guarantor (a) shall contain operative guaranty provisions and appurtenant definitions substantially
identical with (and in the case of said operative provisions numbered identically with) those of
Article II of this Agreement and appurtenant definitions (except that (1) the “Stated Percentage”
of the Approved Guarantor thereunder shall be a percentage which, when added to the Stated
Percentage of the Guarantor hereunder and the “Stated Percentage” of each Other Guarantor under its
respective Other Guaranty Agreement (in each case giving effect to the contemporaneous reduction
thereof as herein and therein provided) total 100%, and (2) said agreement shall contain
appropriate modifications of Section 2.01(b) thereof), (b) shall contain representations
and warranties and financial covenants and appurtenant definitions substantially identical with
those contained in its senior unsecured credit facility, and (c) shall be in all respects in form,
scope and substance reasonably satisfactory to the Administrative Agent.

     “Other Initial Guarantor” means each of Keyspan and DTE.

     “PBGC” has the meaning specified in the Credit Agreement.

     “Person” has the meaning specified in the Credit Agreement.

     “Plan” means any employee pension benefit plan (other than a Multiemployer Plan)
subject to the provisions of Title IV of ERISA or Section 412 of the Code or Section 302 of ERISA,
and in respect of which the Guarantor or any member of its ERISA Group 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.

     “Principal Office” has the meaning specified in the Credit Agreement.

     “Required Lenders” has the meaning specified in the Credit Agreement.

     “Requirement of Law” has the meaning specified in the Credit Agreement.

     “Responsible Officer” means the President, any Vice President, Chief Executive
Officer, Chief Financial Officer, Controller or Treasurer of the Guarantor.

     “SEC” has the meaning specified in the Credit Agreement.

     “SEC Reports” has the meaning specified in Section 3.06.

     “Stated Percentage” means, with respect to the Guarantor, the percentage as in effect
on the date hereof corresponding to its direct or indirect membership interest in Millennium, as
the same may be reduced solely as provided in Section 2.01(c).

     “Subsidiary” means, with respect to any Person (the “parent”) at any date, any
corporation, limited liability company, partnership, association or other entity the accounts of
which would be consolidated with those of the parent in the parent’s consolidated financial
statements if such financial statements were prepared in accordance with GAAP as of such date, as
well as any other corporation, limited liability company, partnership, association or other

5

 

entity (a) of which securities or other ownership interests representing more than 50% of the
equity or more than 50% of the ordinary voting power or, in the case of a partnership, more than
50% of the general partnership interests are, as of such date, owned, controlled or held, or (b)
that is, as of such date, otherwise controlled, by the parent or one or more subsidiaries of the
parent or by the parent and one or more subsidiaries of the parent. Unless the context otherwise
clearly requires, references in this Agreement to a “Subsidiary” or the “Subsidiaries” refer to a
Subsidiary or the Subsidiaries of the Guarantor.

     “Taxes” has the meaning specified in the Credit Agreement.

     “Transactions” has the meaning specified in the Credit Agreement.

     “Transfer” has the meaning specified in Section 2.01(c).

     “United States” and “U.S.” each means United States of America.

     “Withdrawal Liability” has the meaning specified in the Credit Agreement.

     Section 1.02 Accounting Terms; Changes in GAAP. All accounting and financial terms used herein and
not otherwise defined herein shall be determined in accordance with GAAP applied by the Guarantor
on a consistent basis, except to the extent that a deviation therefrom is expressly stated.

     Section 1.03 Interpretation. In this Agreement, unless a clear contrary intention appears:

          (i) the singular number includes the plural number and vice versa;

          (ii) reference to any gender includes each other gender;

          (iii) the words “herein”, “hereof” and “hereunder” and other words of similar import
refer to this Agreement as a whole and not to any particular Article, Section or other
subdivision;

          (iv) reference to any Person includes such Person’s successors and assigns but, if
applicable, only if such successors and assigns are permitted by this Agreement, and
reference to a Person in a particular capacity excludes such Person in any other capacity or
individually; provided that nothing in this clause (iv) is intended to authorize any
assignment not otherwise permitted by this Agreement;

          (v) except as expressly provided to the contrary herein, reference to any agreement,
document or instrument (including this Agreement) means such agreement, document or
instrument as amended, supplemented or modified, or extended, renewed, refunded, substituted
or replaced, and in effect from time to time in accordance with the terms thereof and, if
applicable, the terms hereof, and reference to any Note or other note or Indebtedness or
other indebtedness includes any note or indebtedness issued
pursuant hereto in extension or renewal or refunding thereof or in substitution or
replacement therefor;

6

 

          (vi) unless the context indicates otherwise, reference to any Article, Section,
Schedule or Exhibit means such Article or Section hereof or such Schedule or Exhibit hereto;

          (vii) the word “including” (and with correlative meaning “include”) means including,
without limiting the generality of any description preceding such term;

          (viii) with respect to the determination of any period of time, except as expressly
provided to the contrary, the word “from” means “from and including” and the word “to” means
“to but excluding”;

          (ix) reference to any law, rule or regulation means such as amended, modified, codified
or reenacted, in whole or in part, and in effect from time to time; and

          (x) the words “asset” and “property” shall be construed to have the same meaning and
effect and refer to any and all tangible and intangible assets and properties.

ARTICLE II.

PERCENTAGE GUARANTY

     Section 2.01 Percentage Guaranty by Guarantor.

          (a) Percentage Guaranty. In consideration of, and in order to induce the Administrative Agent
and the Lenders to enter into the Credit Agreement and to induce the Lenders to make the Loans and
each Issuing Bank to issue Letters of Credit thereunder, the Guarantor hereby absolutely,
unconditionally and irrevocably guarantees the punctual payment when due, whether at stated
maturity, by acceleration or otherwise (disregarding for this purpose any requirement of the Credit
Agreement that notice be given and/or a grace period elapse before the nonpayment thereof by
Millennium shall constitute an event of default thereunder), of the Obligations of Millennium, now
or hereafter existing under the Credit Agreement, the other Loan Documents and any Hedging
Agreements relating to such Obligations the counterparty to which is a Lender or an Affiliate of a
Lender, in each case, to which Millennium is a party, whether for principal, interest (including
interest accruing or becoming owing both prior to and subsequent to the commencement of any
proceeding against or with respect to Millennium under any chapter of Title 11 of the United States
Code, as now or hereafter in effect, or any successor thereto (the “Bankruptcy Code”)),
fees, commissions, expenses (including reasonable attorneys’ fees and expenses) or otherwise (all
such Obligations being the “Guaranteed Obligations”); provided, however, that the
Guarantor’s liability under its guaranty set forth above shall in no event exceed an amount equal
to its Stated Percentage of the Guaranteed Obligations or, with respect to any Defaulted Payment or
Accelerated Amount, the amounts determined under paragraphs (d), (e) and (f) below (it being
understood, however, that, in the manner and to the extent provided in the following Section
2.02, the Guarantor may, in its sole discretion and being
under no obligation to do so, elect to assume all or a portion of the obligations under one or
more Other Guaranty Agreements, and thus become obligated to pay Guaranteed Obligations in excess
of an amount equal to its Stated Percentage thereof). The guaranty set forth in this Section
2.01 is a guaranty of payment and not a guaranty of collection, and the obligations of the
Guarantor in

7

 

respect thereof shall not in any way be dependent upon or affected by any payment, or
failure of payment, by an Other Guarantor of any amount owing by such Other Guarantor under its
Other Guaranty Agreement (or any other Loan Document) or conditioned upon any attempt to collect
from Millennium or any other Guarantor or any other action, event, occurrence or circumstance
whatsoever. The Guarantor also agrees to pay any and all reasonable expenses incurred by each
Lender and the Administrative Agent in enforcing this Agreement against the Guarantor.

          (b) Guarantor’s Initial Stated Percentage. On and as of the Execution Date and thereafter,
unless and until reduced as provided in Section 2.01(c), the Guarantor’s Stated Percentage
is 47.5%, which, on the date hereof, equals its percentage ownership of the member interests of
Millennium directly or indirectly owned by it. On and as of the Execution Date, each of the Other
Initial Guarantors are party to an Other Guaranty Agreement, and each Other Initial Guarantor has a
“Stated Percentage”, under and as defined in its respective Other Guaranty Agreement (unless and
until reduced as provided in Section 2.01(c) thereof), in the aggregate equal to 52.5%,
which is, on the date hereof, equal to such Other Initial Guarantors’ percentage ownership of the
member interests in Millennium.

          (c) Additional Other Guaranty; Reduction of Guarantor’s Stated Percentage. If, in connection
with the sale, transfer or other disposition of all or a portion of the member interests in
Millennium, directly or indirectly owned by it, including as a result of the admission of a new
member to Millennium (a “Transfer”), the Guarantor desires to reduce its Stated Percentage
commensurate with the amount of ownership interest so transferred, then the Guarantor shall notify
the Administrative Agent of its intent to make such Transfer and shall provide such information as
the Administrative Agent may reasonably request in connection with such proposed Transfer,
including the name of the proposed transferee, the name of the proposed guarantor, the percentage
ownership interest being transferred and the date of the proposed Transfer. Unless such Transfer
is to a Person who is directly or indirectly controlled by an Approved Guarantor, the
Administrative Agent shall, as soon as practical after receipt of such information, seek a vote of
the Lenders to determine if such proposed guarantor shall become an Approved Guarantor. Upon the
execution and delivery by any Approved Guarantor of an Other Guaranty Agreement wherein it shall
have guaranteed, pursuant to such Other Guaranty Agreement, a percentage of the Obligations like
unto the percentage of the member interests in Millennium directly or indirectly acquired by it or
directly or indirectly granted to it in connection with such Transfer, the Stated Percentage of the
Guarantor under this Agreement shall be automatically reduced (without the need for amendment or
further action on the part of the Guarantor) by the amount of the “Stated Percentage” set forth in
such Other Guaranty Agreement of such Approved Guarantor arising from the Transfer.

          (d) Manner and Effect of Payments. Except as provided in Section 2.01(e) or
(f) below, in the event that at any time or from time to time, one or more Guaranteed
Obligations shall not be paid in full by Millennium when due as contemplated by Section
2.01(a) (each, a “Defaulted Payment”), the Guarantor shall, not later than the fifth
(5th) Business Day following written notice from the Administrative Agent (specifying
(1) each such Defaulted Payment, the due date thereof and the amount thereof not paid by Millennium and the Guarantor’s share
thereof, (2) the obligee to which each such Defaulted Payment is payable, and (3) an account in a
bank or trust company in the United States to which payment shall be remitted to or for the account
of each such obligee) pay to the obligee of such Defaulted Payment (or to the

8

 

Administrative Agent for its account, if the Credit Agreement shall so provide with respect to the Guaranteed Obligation
constituting such Defaulted Payment), by wire transfer of funds, immediately available at the place
of payment, to the account specified in the Administrative Agent’s notice, an amount equal to the
sum of (A) the product of (x) the amount of such Defaulted Payment so specified which has not been
so paid by Millennium, multiplied by (y) a decimal fraction equal to the Guarantor’s then Stated
Percentage, plus, (B) to the extent owed under the Credit Agreement and without duplication as to
amounts included in the Defaulted Payment, an amount equal to interest on the amount specified in
the preceding clause (A) at the Default Rate from the date on which such Defaulted Payment was due
to the date of such payment by the Guarantor. Each payment by the Guarantor pursuant to this
Section 2.01 shall be accompanied by a written notice which shall advise the payee that
such payment is a payment in respect of the Guarantor’s obligations under this Section
2.01, shall specify the Defaulted Payment(s) in respect of which such payment is being paid and
refer specifically to the Administrative Agent’s notice in connection therewith. If each of the
Guarantor and the Other Guarantors shall pay in full the amount required to be paid by it in
respect of a Defaulted Payment under this Section 2.01 or Section 2.01 of the applicable
Other Guaranty Agreement, as the case may be, within the time herein and therein provided (or, if
paid within the time period permitted for the assumption of such obligation in accordance with
Section 2.02 or Section 2.02 of the applicable Other Guaranty Agreement, as the case may
be), then as provided in Section 7.01 of the Credit Agreement any default or event of default
arising under the Credit Agreement solely by reason of Millennium’s failure to make timely payment
in full of such Defaulted Payment (or, in the case of a defaulting Other Guarantor whose
obligations have been assumed and paid in accordance with Section 2.02, the Event of
Default arising under the Other Guaranty of the defaulting Other Guarantor) shall be deemed cured
and waived, and the Administrative Agent shall send written notice thereof to Millennium, the
Lenders, the Guarantor and each Other Guarantor (but such cure and waiver shall not extend to any
other Defaulted Payment as to which the Guarantor and each Other Guarantor shall not have fully
complied with this Section 2.01 and, if applicable, Section 2.02 or Section 2.01
and, if applicable, Section 2.02 of the applicable Other Guaranty Agreement, as the case may be);
provided, however, that no such cure or waiver shall be deemed to have occurred for purposes of
exercise of the subrogation rights of the Guarantor under Section 2.04 hereof or of an
Other Guarantor under Section 2.04 of its Other Guaranty Agreement, as the case may be, unless the
Guarantor or Other Guarantors making payment shall have (i) paid in full all obligations of
Millennium and the commitments under the Credit Agreement have been terminated or (ii) irrevocably
assumed the obligations of the defaulting Other Guarantor pursuant to Section 2.02 or
Section 2.02 of the applicable Other Guaranty Agreement, as the case may be.

          (e) Acceleration of Guaranteed Obligations due to Default or Event of Default under the Credit
Agreement. Notwithstanding Section 2.01(d), if at any time, (1) any default or event of
default arising under Section 7.01 of the Credit Agreement shall have occurred and be continuing
(other than pursuant to clause (k) thereof) and (2) the maturity of all Obligations shall have been
accelerated as provided in Section 7.01 of the Credit Agreement (such amount, an “Accelerated
Amount”), then the Guarantor, not later than the tenth (10th)
Business Day following such acceleration (taking into account the five (5) Business Days
afforded under Section 2.01(d) above) shall make payment to the Administrative Agent, by
wire transfer of funds, immediately available at the account specified by the Administrative Agent,
an amount equal to the sum of (A) the product of (x) the amount of such Accelerated Amount,

9

 

multiplied by (y) a decimal fraction equal to the Guarantor’s then Stated Percentage, plus, (B) to
the extent owed under the Credit Agreement and without duplication as to amounts included in the
Accelerated Amount, an amount equal to interest on the amount specified in the preceding clause (A)
at the Default Rate from the date on which such Accelerated Amount was due to the date of such
payment by the Guarantor.

          (f) Acceleration of Guaranteed Obligations due to Other Guarantor Event of Default.
Notwithstanding Section 2.01(d), if at any time (1) any default or event of default arising
under Section 7.01(k) of the Credit Agreement shall have occurred and be continuing (other than
pursuant to this Agreement), (2) the maturity of all Obligations shall have been accelerated as
provided in Section 7.01 of the Credit Agreement (such amount, an “Accelerated Amount”),
and (3) the Guarantor shall not be in breach or default of any of its obligations under this
Agreement, then the Guarantor, not later than the thirtieth (30th) day following such
acceleration (taking into account the five (5) Business Days afforded under Section 2.01(d)
above) shall make payment to the Administrative Agent, by wire transfer of funds, immediately
available at the account specified by the Administrative Agent, an amount equal to the sum of (A)
the product of (x) the amount of such Accelerated Amount, multiplied by (y) a decimal fraction
equal to the Guarantor’s then Stated Percentage, plus, (B) to the extent owed under the Credit
Agreement and without duplication as to amounts included in the Accelerated Amount, an amount equal
to interest on the amount specified in the preceding clause (A) at the Default Rate from the date
on which such Accelerated Amount was due to the date of such payment by the Guarantor.

          (g) No Application of Other Payments. No payments (1) made by the Guarantor at any time or
from time to time in respect of the Guaranteed Obligations by reason of its assumption of the
obligations of an Other Guarantor under its Other Guaranty Agreement under the following
Section 2.02, or (2) made by an Other Guarantor at any time or from time to time in respect
of the Guaranteed Obligations by way of its payment, in whole or part, of a “Defaulted Payment”
(under and as defined in Section 2.01(d) of its Other Guaranty Agreement), shall be credited to,
reduce or in any way diminish obligations of the Guarantor in respect of its Stated Percentage of
the Guaranteed Obligations under this Section 2.01.

     Section 2.02 Guarantor’s Option to Assume Obligations of Other Guarantor(s). If at any time or
from time to time (1) a default or event of default under Section 7.01 of the Credit Agreement
shall have occurred and be continuing by reason of any action of, failure to act by, or other
event, circumstance or condition pertaining to, an Other Guarantor (including a failure of such
Other Guarantor to make any payment required to be made by it under Section 2.01 of its
Other Guaranty Agreement), (2) the maturity of all Obligations shall not at the time have been
accelerated as provided in Section 7.01 of the Credit Agreement, and (3) the Guarantor shall have
timely paid in full all amounts required to be paid by it under Section 2.01 above and
shall not otherwise be in breach or default of any of its obligations under this Agreement, then
the Administrative Agent shall promptly send written notice thereof to the
Guarantor and the non-defaulting Other Guarantors, if any. In such event the Guarantor and
the non-defaulting Other Guarantors, if any, shall have the option, by one or more instruments in
writing reasonably satisfactory in form, scope and substance to the Administrative Agent (an
executed copy of which shall be delivered to the Administrative Agent within fifteen (15) Business
Days of its original notice of such default), to assume liability under and in respect of such
defaulting Other

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Guarantor’s obligations under and in respect of Section 2.01 of such Other
Guarantor’s Other Guaranty Agreement. Such assumption shall be (and be stated in such written
instrument to be) irrevocable, and the Guarantor’s liability as so assumed shall be joint and
several with that of such defaulting Other Guarantor. Without limiting the generality of the
foregoing, in the event of such assumption, the Guarantor and the assuming Other Guarantors, if
any, shall be liable to make any payment for which such defaulting Other Guarantor is liable at the
time of such assumption, or for which it becomes liable thereafter, under Section 2.01 of such
defaulting Other Guarantor’s Other Guaranty Agreement. If the Guarantor, either alone or together
with the other non-defaulting Other Guarantors, if any, shall timely assume the obligations of a
defaulting Other Guarantor in accordance with the terms of this Section 2.02, and shall
have paid in full to the obligee(s) thereof all payments for which such defaulting Other Guarantor
was liable at the time of such assumption, then for purposes of Section 7.01 of the Credit
Agreement any default or event of default arising under the Credit Agreement solely by reason of
such action of, failure to act by, or other event, circumstance or condition pertaining to, such
defaulting Other Guarantor shall be deemed cured, and the Administrative Agent shall send written
notice thereof to Millennium, the Lenders, the Guarantor and the Other Guarantors; provided,
however, that no such cure shall be deemed to have occurred for purposes of exercise of subrogation
rights by the Guarantor under Section 2.04 hereof, or by a non-defaulting Other Guarantor
under Section 2.04 of its Other Guaranty Agreement, unless the Guarantor or Other Guarantors making
payment shall have (i) paid in full all obligations of Millennium and the commitments under the
Credit Agreement have been terminated or (ii) irrevocably assumed the obligations of the defaulting
Other Guarantor pursuant to Section 2.02 or Section 2.02 of the applicable Other Guaranty
Agreement, as the case may be.

     Section 2.03 Unconditional and Continuing Guaranty.

          (a) Guaranty Unconditional. The Guarantor guarantees (to the extent of its Stated Percentage
or any greater amount assumed in accordance with Section 2.02) that the Guaranteed
Obligations will be paid strictly in accordance with the terms of the Credit Agreement and the
other Loan Documents. The Guarantor agrees that the Guaranteed Obligations and Loan Documents may
be extended or renewed, and indebtedness thereunder repaid and reborrowed in whole or in part,
without notice to or assent by the Guarantor, and that it will remain bound upon its guaranty
contained in, and the other provisions of, this Agreement notwithstanding any extension, renewal or
other alteration of any Guaranteed Obligations or such Loan Documents, or any repayment and
reborrowing of Loans. Except as otherwise expressly provided in this Agreement or any other Loan
Document to which the Guarantor is a party, the obligations of the Guarantor under this Agreement
shall be absolute, unconditional and irrevocable, and shall be performed strictly in accordance
with the terms hereof under any and all circumstances whatsoever, including:

          (1) any modification, amendment, supplement, renewal, extension for any period,
increase, decrease, alteration or rearrangement of all or any part of the Guaranteed
Obligations, or of this Agreement or any other Loan Document executed in connection
herewith, or any contract or understanding among the Guarantor, any Other Guarantor,
Millennium, the Administrative Agent and/or the Lenders, or any other Person, pertaining to
the Guaranteed Obligations;

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          (2) any adjustment, indulgence, forbearance or compromise that might be granted or
given by the Lenders to the Guarantor, any Other Guarantor, Millennium, or any other Person
liable on the Guaranteed Obligations;

          (3) the insolvency, bankruptcy, arrangement, adjustment, composition, liquidation,
disability, dissolution or lack of power of the Guarantor, any Other Guarantor, Millennium
or any other Person at any time liable for the payment of all or part of the Guaranteed
Obligations; or any dissolution of the Guarantor, any Other Guarantor, Millennium or any
sale, lease or transfer of any or all of the assets of the Guarantor, any Other Guarantor,
or Millennium, or any changes in the owners of the equity of the Guarantor, any Other
Guarantor, Millennium, or any reorganization of the Guarantor, any Other Guarantor, or
Millennium;

          (4) the invalidity, illegality or unenforceability of all or any part of the Guaranteed
Obligations, or any document or agreement executed in connection with the Guaranteed
Obligations, for any reason whatsoever, including the fact that (A) the Guaranteed
Obligations, or any part thereof, exceeds the amount permitted by law, (B) the act of
creating the Guaranteed Obligations or any part thereof is ultra vires, (C) the officers or
representatives executing the documents or otherwise creating the Guaranteed Obligations
acted in excess of their authority, (D) the Guaranteed Obligations or any part thereof
violate applicable usury laws, (E) the Guarantor, any Other Guarantor, or Millennium has
valid defenses, claims and offsets (whether at law or in equity, by agreement or by statute)
which render the Guaranteed Obligations wholly or partially uncollectible from the
Guarantor, any Other Guarantor, or Millennium, (F) the creation, performance or repayment of
the Guaranteed Obligations (or execution, delivery and performance of any document or
instrument representing part of the Guaranteed Obligations or executed in connection with
the Guaranteed Obligations, or given to secure the repayment of the Guaranteed Obligations)
is illegal, uncollectible, legally impossible or unenforceable, or (G) this Agreement, any
other Loan Document, or any other document or instrument pertaining to the Guaranteed
Obligations, has been forged or otherwise is irregular or not genuine or authentic;

          (5) any full or partial release of the liability of the Guarantor, any Other Guarantor,
or Millennium on the Guaranteed Obligations or any part thereof, or of any other Person now
or hereafter liable, whether directly or indirectly, jointly, severally, or jointly and
severally, to pay, perform, guarantee or assure the payment of the Guaranteed Obligations or
any part thereof; it being recognized, acknowledged and agreed by the Guarantor that the
Guarantor may be required to pay an amount equal to its Stated Percentage of, and as herein
provided may elect or obligate itself, but will not be required, to pay a greater percentage
of, the Guaranteed Obligations without assistance or support of any other Person, and the Guarantor has not been induced to enter into this
Agreement on the basis of a contemplation, belief, understanding or agreement that any other
Person (other than the Other Guarantors) will be liable to perform the Guaranteed
Obligations, or that the Administrative Agent or any Lender will look to any other Person
(other than the Other Guarantors) to perform the Guaranteed Obligations;

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          (6) the taking or accepting of any other security, collateral or guaranty, or other
assurance of payment, for all or any part of the Guaranteed Obligations;

          (7) any release, surrender, exchange, subordination, deterioration, waste, loss or
impairment of any collateral, property or security, at any time existing in connection with,
or assuring or securing payment of, all or any part of the Guaranteed Obligations;

          (8) the failure of the Administrative Agent, the Lenders or any other Person to
exercise diligence or reasonable care in the preservation, protection, enforcement, sale or
other handling or treatment of all or any part of such collateral, property or security;

          (9) the fact that any collateral, security or Lien contemplated or intended to be
given, created or granted as security for the repayment of the Guaranteed Obligations shall
not be properly perfected or created, or shall prove to be unenforceable or subordinate to
any other Lien; it being recognized and agreed by the Guarantor that the Guarantor is not
entering into this Agreement in reliance on, or in contemplation of the benefits of, the
validity, enforceability, collectibility or value of any collateral for the Guaranteed
Obligations;

          (10) any payment by Millennium or the Guarantor or any Other Guarantor to the
Administrative Agent or any Lender is held to constitute a preference under bankruptcy laws,
or for any other reason either the Administrative Agent or any Lender is required to refund
such payment or pay such amount to Millennium or any other Person; or

          (11) any other action taken or omitted to be taken with respect to this Agreement, any
other Loan Document, the Guaranteed Obligations, or any security and collateral therefor,
whether or not such action or omission prejudices the Guarantor or increases the likelihood
that the Guarantor will be required to pay its Stated Percentage of the Guaranteed
Obligations pursuant to the terms hereof;

it being the unambiguous and unequivocal intention of the Guarantor that the Guarantor shall be
obligated to pay an amount equal to its Stated Percentage of the Guaranteed Obligations (or any
greater amount assumed in accordance with Section 2.02) when due, notwithstanding any
occurrence, circumstance, event, action, or omission whatsoever, whether contemplated or
uncontemplated, and whether or not otherwise or particularly described herein (including any
circumstance whatsoever that might otherwise constitute a legal or equitable discharge of a surety
or guarantor, including by reason of any future judicial decisions or legislations of any
jurisdiction), except for the indefeasible full and final payment and satisfaction of the
Guaranteed Obligations after the termination of the Commitments of all Lenders and the expiration or
termination of all Letters of Credit.

          (b) Acceleration. The Guarantor further agrees that, to the fullest extent permitted by law,
as between the Guarantor and the Other Guarantors, on the one hand, and the Lenders and the
Administrative Agent, on the other hand, (i) the maturity of the Guaranteed

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Obligations may be accelerated as provided in the Credit Agreement for the purposes of this Agreement and each Other
Guaranty Agreement, notwithstanding any stay, injunction or other prohibition preventing such
acceleration of the Guaranteed Obligations, and (ii) in the event of any acceleration of the
Guaranteed Obligations as provided in the Credit Agreement, the Guaranteed Obligations (whether or
not due and payable) shall forthwith become due and payable by the Guarantor and the Other
Guarantors, in each case to the extent of its respective Stated Percentage thereof under and as
defined herein or in the applicable Other Guaranty Agreement, as the case may be, for the purpose
of this Agreement and such Other Guaranty Agreement.

     Section 2.04 Subrogation. If a Guarantor shall make any payment to any obligee pursuant to
Section 2.01 or 2.02, as the case may be, it shall (to the extent of the payment(s)
so made) be subrogated to such obligee’s rights against Millennium and/or each defaulting Other
Guarantor, as the case may be; provided, however, that the Guarantor’s rights of subrogation
against Millennium and, unless all of the Obligations of such defaulting Other Guarantor have been
irrevocably assumed by an Approved Guarantor, the defaulting Other Guarantors shall be subject and
subordinate to, and the Guarantor agrees that it shall take no action to exercise such rights
until, in the case of action against Millennium, the prior indefeasible payment in full to the
respective obligee or obligees thereof of all principal, interest and letter of credit enforcement
costs under the Credit Agreement and the other Loan Documents, whether due and payable, and, in the
case of a defaulting Other Guarantor, the prior indefeasible payment in full to the respective
obligee or obligees thereof of its ratable share of all principal, interest and letter of credit
enforcement costs under the Credit Agreement and the other Loan Documents from such Other
Guarantor, whether due and payable, all other amounts due and payable from such Other Guarantor and
the cancellation of the commitments under the Credit Agreement.

     Section 2.05 Excess Recovery. If at any time or from time to time (i) the Guarantor shall have
made any payment in respect of a Defaulted Payment as provided in Section 2.01 or
Section 2.02, and (ii) the obligee that is the payee of such payment(s) shall have received
any other payment in respect of such Defaulted Payment from Millennium or any other party or
parties, and (iii) as a result thereof, such obligee has received payments in respect of the
Defaulted Payment aggregating more than 100% of the amount thereof, and the payments so received
are indefeasible, the Guarantor shall be entitled to a refund from the payee equal to the
Guarantor’s Share of such excess. For purposes of the foregoing sentence:

          (a) if each of the Guarantor and the Other Guarantors shall have fully honored its obligation
in respect of the Defaulted Payment as set forth in Section 2.01 of this Agreement
or Section 2.01 of the applicable Other Guaranty Agreement, as the case may be, the
“Guarantor’s Share” of such excess shall be the Guarantor’s Stated Percentage thereof; or

          (b) if any of the Guarantor and the Other Guarantors shall not have fully honored its
obligation in respect of the Defaulted Payment as set forth in Section 2.01 of this
Agreement or Section 2.01 of the applicable Other Guaranty Agreement, as the case may be,
the “Guarantor’s Share” of such excess shall be determined by multiplying the amount of
such excess by a fraction of which the numerator is the aggregate of all payments made by the
Guarantor in respect of Defaulted Payments under this Agreement, and the denominator is the

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aggregate of the payments made by the Guarantor and the Other Guarantors in respect of Defaulted
Payments under this Agreement and the Other Guaranty Agreements.

     Section 2.06 Effect of Debtor Relief Laws. If after receipt of any payment of all or any part of
the Guaranteed Obligations by Millennium or by the Guarantor, the Administrative Agent, an Issuing
Bank or any Lender is for any reason compelled to surrender, or voluntarily surrenders, such
payment to any Person (a) because such payment is or may be voided, invalidated, declared
fraudulent, set aside, determined to be void or voidable as a preference, fraudulent conveyance,
fraudulent transfer, impermissible set-off or a diversion of trust funds or (b) for any other
reason, including (i) any judgment, decree or order of any court or administrative body having
jurisdiction over the Administrative Agent, an Issuing Bank, any Lender or any of their respective
properties or (ii) any settlement or compromise of any such claim effected by the Administrative
Agent, an Issuing Bank or any Lender with any such claimant (including Millennium), then the
Guaranteed Obligations or part thereof intended to be satisfied shall be reinstated and continue,
and this Guaranty shall continue in full force as if such payment had not been received,
notwithstanding any revocation thereof or the cancellation of any instrument evidencing any of the
Guaranteed Obligations or otherwise; and the Guarantor shall be liable to pay the Administrative
Agent, each Issuing Bank and the Lenders, and hereby does indemnify the Administrative Agent, each
Issuing Bank and the Lenders and holds them harmless, for the Guarantor’s Stated Percentage of the
amount of such payment so surrendered (or, if such surrendered payment relates solely to amounts
from the Guarantor, the amount so surrendered) and the Guarantor’s Stated Percentage of all (or, if
such surrendered payment relates solely to amounts received from the Guarantor, all) reasonable
expenses (including reasonable attorneys’ fees, court costs and expenses attributable thereto)
incurred by the Administrative Agent, an Issuing Bank or any Lender in the defense of any claim
made against it that any payment received by the Administrative Agent, an Issuing Bank or any
Lender in respect of all or part of the Guaranteed Obligations must be surrendered, other than any
claim that has been found in a final nonappealable ruling by a court of competent jurisdiction to
have arisen from the gross negligence or intentional misconduct of such Administrative Agent’s,
Issuing Bank’s or Lender’s obligations under any Loan Document. The provisions of this Section
2.06 shall survive the termination of this Agreement, and any satisfaction and discharge of
Millennium by virtue of any payment, court order or any Federal or state law.

     Section 2.07 Waiver. The Guarantor hereby waives promptness, diligence, notice of acceptance and, except as
expressly herein provided, any other notice with respect to any of the Guaranteed Obligations and
this Guaranty and waives presentment, demand for payment, notice of intent to accelerate, notice of
dishonor or nonpayment and any requirement that the Administrative Agent, an Issuing Bank or any
Lender institute suit, collection proceedings or take any other action to collect the Guaranteed
Obligations, including any requirement that the Administrative Agent, an Issuing Bank or any Lender
exhaust any right or take any action against Millennium, any Other Guarantor or any other Person or
any collateral (it being the intention of the Administrative Agent, the Lenders and the Guarantor
that the guaranty contained in this Agreement is to be a guaranty of payment and not of
collection). It shall not be necessary for the Administrative Agent, an Issuing Bank or any
Lender, in order to enforce any payment by the Guarantor hereunder, to institute suit or exhaust
its rights and remedies against Millennium, any Other Guarantor or any other Person, including
others liable to pay any Guaranteed Obligations, or to enforce its rights against any security ever
given to secure payment thereof.

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The Guarantor hereby expressly waives to the maximum extent
permitted by applicable law each and every right to which it may be entitled by virtue of the
suretyship laws of the State of New York or any other state in which it may be located.

     Section 2.08 Full Force and Effect. This Agreement and the guaranty set forth herein constitute a
continuing guaranty and shall remain in full force and effect until all of the Guaranteed
Obligations under this Agreement and the other Loan Documents to which Millennium is a party and
all other amounts payable under this Agreement have been paid in full (after the termination of the
Commitments of the Lenders and the termination or expiration of all outstanding Letters of Credit).
All rights, remedies and powers provided in this Agreement may be exercised, and all waivers
contained in this Agreement may be enforced, only to the extent that the exercise or enforcement
thereof does not violate any provisions of applicable law which may not be waived.

ARTICLE III.

REPRESENTATIONS AND WARRANTIES

     The Guarantor makes the following representations and warranties to the Administrative Agent
and the Lenders:

     Section 3.01 Organization and Qualification. The Guarantor (a) is a corporation, partnership or
limited liability company duly organized or formed, validly existing and in good standing under the
laws of the state of its incorporation, organization or formation, (b) has all requisite corporate,
partnership, limited liability company or other power and all material governmental licenses,
authorizations, consents and approvals required to carry on its business as now conducted and (c)
is duly qualified to do business and is in good standing in every jurisdiction in which the failure
to be so qualified would, individually or together with all such other failures of the Guarantor
and its Subsidiaries, have a Material Adverse Effect.

     Section 3.02 Authorization, Validity, Etc. The Guarantor has all requisite corporate and other power and authority to execute and
deliver, and to incur and perform its obligations under this Agreement and under the other Loan
Documents to which it is a party, and all such actions have been duly authorized by all necessary
proceedings on its behalf. This Agreement has been duly and validly executed and delivered by or
on behalf of the Guarantor and constitutes a valid and legally binding agreement of the Guarantor
enforceable against the Guarantor in accordance with the respective terms thereof, except (a) as
may be limited by bankruptcy, insolvency, reorganization, moratorium, fraudulent transfer,
fraudulent conveyance or other similar laws relating to or affecting the enforcement of creditors’
rights generally, and by general principles of equity (including principles of good faith,
reasonableness, materiality and fair dealing) which may, among other things, limit the right to
obtain equitable remedies (regardless of whether considered in a proceeding in equity or at law)
and (b) as to the enforceability of provisions for indemnification for violation of applicable
securities laws, limitations thereon arising as a matter of law or public policy.

     Section 3.03 Governmental Consents, Etc. No authorization, consent, approval, license or exemption
of or registration, declaration or filing with any Governmental Authority, is necessary for the
valid execution and delivery of, or the incurrence and performance by the

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Guarantor of its obligations under, this Agreement and any other Loan Document to which it is a party, except those
that have been obtained and such matters relating to performance as would ordinarily be done in the
ordinary course of business after the Execution Date.

     Section 3.04 No Breach or Violation of Agreements or Restrictions, Etc. Neither the execution and
delivery of, nor the incurrence and performance by the Guarantor of its obligations under, this
Agreement and the other Loan Documents to which it is a party, will (a) breach or violate any
applicable Requirement of Law, (b) result in any breach or violation of any of the terms,
covenants, conditions or provisions of, or constitute a default under, or result in the creation or
imposition of (or the obligation to create or impose) any Lien upon any of its property or assets
(other than Liens created or contemplated by this Agreement) pursuant to the terms of, any
indenture, mortgage, deed of trust, agreement or other instrument to which it or any of its
Subsidiaries is party or by which any of its properties or assets, or those of any of its
Subsidiaries is bound or to which it is subject, except for breaches, violations and defaults under
clauses (a) and (b) that neither individually nor in the aggregate could reasonably be expected to
result in a Material Adverse Effect, or (c) violate any provision of the organic documents of the
Guarantor.

     Section 3.05 Properties. The Guarantor has good title to, or valid leasehold or other interests
in, all its real and personal property material to its business, except for Liens permitted under
Section 6.01(a) of the Guarantor’s Credit Agreement, and except for such defects which could not,
in each case, reasonably be expected to result in a Material Adverse Effect.

     Section 3.06 Litigation and Environmental Matters. There is no action, suit or proceeding (including those under Environmental Laws) by or
before any arbitrator or Governmental Authority pending against or, to the knowledge of the
Guarantor, threatened against or affecting the Guarantor or any of the Subsidiaries (i) which could
reasonably be expected to result in a Material Adverse Effect other than those disclosed in the
annual, quarterly and current reports filed by the Guarantor with the SEC pursuant to the Exchange
Act (the “SEC Reports”) prior to the date hereof or (ii) that involves this Agreement or
the Transactions.

     Section 3.07
Financial Statements. (a) (i) The consolidated balance sheet of the Guarantor as
at December 31, 2006 and the related consolidated statements of income and cash flows of the
Guarantor for the fiscal year ended on said date, with the opinion thereon of Deloitte & Touche
LLP, and (ii) the consolidated balance sheet of the Guarantor as at June 30, 2007 and the related
consolidated statements of income and cash flows of the Guarantor for the fiscal quarter ended on
said date, in each case, fairly present, in conformity with GAAP (subject to normal year-end
adjustments with respect to the financial statements at and for the period ending June 30, 2007),
the consolidated financial position of the Guarantor as of such date and its consolidated results
of operations and cash flows for such period or fiscal year, as the case may be.

          (b) Since December 31, 2006, there has been no material adverse change in the business,
assets, liabilities or financial condition of the Guarantor and its Subsidiaries, taken as a whole,
other than as disclosed in the SEC Reports prior to the date hereof.

     Section 3.08 Disclosure. All information heretofore furnished by the Guarantor to the
Administrative Agent or any Lender, taken as a whole, for purposes of or in connection with this

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Agreement or any of the Transactions is, and all such information hereafter furnished by the
Guarantor to the Administrative Agent or any Lender, taken as a whole, will be, true and accurate
in all material respects on the date as of which such information is stated or certified. None of
the reports, financial statements, certificates or other information furnished by or on behalf of
the Guarantor to the Administrative Agent or any Lender in connection with the syndication of the
Credit Agreement or the negotiation of this 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 3.09 Investment Company Act. The Guarantor is not, nor is regulated as, an “investment
company,” as such term is defined in the Investment Company Act of 1940, as amended.

     Section 3.10 ERISA. Each member of the ERISA Group has fulfilled its obligations under the minimum
funding standards of ERISA and the Code with respect to each Plan and is in compliance in all
material respects with the presently applicable provisions of ERISA and the Code with respect to
each Plan. No member of the ERISA Group has (i) sought a waiver of the minimum funding
standard under Section 412 of the Code in respect of any Plan, (ii) failed to make any contribution
or payment to any Plan or Multiemployer Plan or in respect of any Benefit Arrangement, or made any
amendment to any Plan or Benefit Arrangement, which has resulted or could result in the imposition
of a Lien or the posting of a bond or other security under ERISA or the Code or (iii) incurred any
liability under Title IV of ERISA other than a liability to the PBGC for premiums under Section
4007 of ERISA, which waiver, failure or liability could reasonably be expected to result in a
Material Adverse Effect.

     Section 3.11 Tax Returns and Payments. The Guarantor has caused to be filed all federal income tax
returns and other material tax returns, statements and reports (or obtained extensions with respect
thereto) which are required to be filed and have paid or deposited or made adequate provision in
accordance with GAAP for the payment of all taxes (including estimated taxes shown on such returns,
statements and reports) which are shown to be due pursuant to such returns, except for taxes being
contested in good faith by appropriate proceedings for which adequate reserves in accordance with
GAAP have been created on the books of the Guarantor and where the failure to pay such taxes would
not have a Material Adverse Effect.

     Section 3.12 Compliance with Laws and Agreements. The Guarantor 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 could not reasonably be expected to result in a Material Adverse Effect.

     Section 3.13 Foreign Assets Control Regulations, etc. The Guarantor (i) is not, and will not
become, a Person described or designated in the Specially Designated Nationals and Blocked Persons
List of the Office of Foreign Assets Control or in Section 1 of the Anti-Terrorism Order and (ii)
does not, and will not, knowingly, after or upon due investigation, engage in any dealings or
transactions, and is not, and will not be otherwise, associated with any such Person in

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violation of the regulations implemented and enforced by the Office of Foreign Assets Control. The Guarantor
is in compliance in all material respects with the Bank Secrecy Act, as amended by the USA Patriot
Act, to the extent applicable.

ARTICLE IV.

AFFIRMATIVE COVENANTS

     Until the Guaranteed Obligations are indefeasibly paid in full after the Commitments have
expired or been terminated, the Guarantor covenants and agrees with the Administrative Agent, for
the benefit of the Lenders, that it will comply with each affirmative covenant set forth in Article
V of the Guarantor’s Credit Agreement (giving effect to any amendment, restatement, replacement or
waiver in respect thereof made in accordance with the terms and conditions thereof; provided that
if such Guarantor’s Credit Agreement is terminated without being refinanced or replaced, such
affirmative covenants will remain incorporated in their final form (excluding any amendment or waiver made in connection with the termination of such Guarantor’s
Credit Agreement) until such time as a new replacement credit agreement, if any, is entered into by
the Guarantor). The Guarantor hereby covenants and agrees to deliver to the Administrative Agent
copies of all notices as and when required to be delivered to the applicable agent under Section
5.01(h) of the Guarantor’s Credit Agreement; provided that any documents which are required to be
delivered pursuant to such Section may be delivered electronically and shall be deemed to be
delivered if delivered or posted on the Guarantor’s IntraLinks, or other relevant, website, to
which the Administrative Agent has access; provided that the Administrative Agent has been
given notice of each such posting.

ARTICLE V.

NEGATIVE COVENANTS

     Until the Guaranteed Obligations are indefeasibly paid in full after the Commitments have
expired or been terminated, the Guarantor covenants and agrees with the Administrative Agent, for
the benefit of the Lenders, that it will comply with each negative covenant set forth in Article VI
of the Guarantor’s Credit Agreement (giving effect to any amendment, restatement, replacement or
waiver in respect thereof made in accordance with the terms and conditions thereof; provided that
if such Guarantor’s Credit Agreement is terminated without being refinanced or replaced, such
negative covenants will remain incorporated in their final form (excluding any amendment or waiver
made in connection with the termination of such Guarantor’s Credit Agreement) until such time as a
new replacement credit agreement, if any, is entered into by the Guarantor).

ARTICLE VI.

EVENTS OF DEFAULT

     If any of the following events (each an “Event of Default”) shall occur and be
continuing:

          (a) an “Event of Default” under and as defined in Article VII of the Guarantor’s Credit
Agreement (giving effect to any amendment, restatement, replacement or waiver in respect thereof
made in accordance with the terms and conditions thereof; provided that if such Guarantor’s Credit
Agreement is terminated without being refinanced or replaced,

19

 

such events of default will remain incorporated in their final form (excluding any amendment or waiver made in connection with the
termination of such Guarantor’s Credit Agreement) until such time as a new replacement credit
agreement, if any, is entered into by the Guarantor);

          (b) the Guarantor shall fail to perform or observe its payment obligations pursuant to Article
II hereof within the applicable time period specified therein; or

          (c) the Guarantor shall fail to perform or observe its obligations hereunder (other than
payment obligations) or any other Loan Document to which it is a party within the time period
specified herein and such failure shall continue for a period of 30 days after notice from the
Administrative Agent,

then, in any such event, and at any time thereafter, the Administrative Agent, may, and upon the
written request of the Required Lenders shall, by written notice (including notice sent by
telecopy) to the Guarantor take any or all of the following actions, without prejudice to the
rights of the Administrative Agent, any Lender or other beneficiary of any of the Guaranteed Obligations
to enforce its claims against the Guarantor: (i) declare the principal of and any accrued interest
in respect of the Guaranteed Obligations owing under the Credit Agreement to be, whereupon the same
shall become, forthwith due and payable hereunder without presentment, demand, notice of demand or
of dishonor and nonpayment, protest, notice of protest, notice of intent to accelerate, declaration
or notice of acceleration or any other notice of any kind, all of which are hereby waived; and (ii)
exercise any rights or remedies under the Loan Documents.

ARTICLE VII.

MISCELLANEOUS

Section 7.01 Notices, Etc.

          (a) Except with respect to notices and other communications expressly permitted to be given by
telephone, all notices, consents, requests, approvals, demands and other communications
(collectively “Communications”) provided for herein shall be in writing (including
facsimile Communications) and mailed, telecopied or delivered:

	 	(i)	 	if to the Guarantor, to it at:
	 
	 	 	 	801 E 86th Avenue

Merrillville, IN 46410

Attention: Vice President and Treasurer

Telecopy No.: 219-647-5520;

with a copy to:

	 
	 	 	 	801 E 86th Avenue

Merrillville, IN 46410

Attention: Director of Corporate Finance

Telecopy No.: 219-647-6103;

20

 

	 	(ii)	 	if to the Administrative Agent, to it at:
	 
	 	 	 	10 South Dearborn, 9th Floor

Mail Code IL1-0090

Chicago, IL 60603

Attention: Nancy R. Barwig

Telecopy No: 312-732-1762;

with a copy to:

	 
	 	 	 	10 South Dearborn, 9th Floor

Mail Code IL1-0874

Chicago, IL 60603

Attention: Lisa M. Tverdek

Telecopy No: 312-325-3238;

or such other address or telecopy number as such party may hereafter
specify for such purpose by notice to the other parties.

          (b) The Administrative Agent or the Guarantor may, in its discretion, agree to accept notices
and other communications to it hereunder by electronic communications pursuant to procedures
approved by it; provided that approval of such procedures may be limited to particular notices or
communications.

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

     Section 7.02 Waivers; Amendments. (a) No failure or delay by the Administrative Agent, in
exercising, and no course of dealing with respect to, any right or power hereunder shall operate as
a waiver thereof, nor shall any single or partial exercise of any such right or power, or any
abandonment or discontinuance of steps to enforce such a right or power, preclude any other or
further exercise thereof or the exercise of any other right or power. No notice to or demand on
the Guarantor in any case shall entitle the Guarantor to any other or further notice or demand in
similar or other circumstances. No waiver of any provision of this Agreement or consent to any
departure therefrom shall in any event be effective unless the same shall be permitted by
Section 7.02(b), and then such waiver or consent shall be effective only in the specific
instance and for the purpose for which given.

          (b) No provision of this Agreement may be waived, amended or modified except pursuant to an
agreement or agreements in writing entered into by the Guarantor and the Administrative Agent as
provided in Section 9.02 of the Credit Agreement.

     Section 7.03 Successors and Assigns. The provisions of this Agreement shall be binding upon and
inure to the benefit of the parties hereto and their respective successors and assigns permitted
hereby. Nothing in this Agreement, expressed or implied, shall be construed to

21

 

confer upon any Person (other than the parties hereto, the Lenders and their respective successors and assigns
permitted hereby) any legal or equitable right, remedy or claim under or by reason of this
Agreement.

     Section 7.04 Survival. All covenants, agreements, representations and warranties made by the
Guarantor herein and in the certificates or other instruments delivered in connection with or
pursuant to this Agreement shall be considered to have been relied upon by the other parties hereto
and shall survive the execution and delivery of this Agreement.

     Section 7.05 Counterparts; Integration; Effectiveness. This Agreement may be executed in
counterparts (and by different parties hereto on different counterparts), each of which shall
constitute an original, but all of which when taken together shall constitute a single contract.
This Agreement constitutes the entire contract among the parties hereto relating to the subject
matter hereof and supersedes any and all previous agreements and understandings, oral or written,
relating to the subject matter hereof. This Agreement shall become effective when it shall have
been executed by the Guarantor and the Administrative Agent. Delivery of an executed counterpart
of a signature page of this Agreement by telecopy or other scanned electronic transmission shall be
effective as delivery of a manually executed counterpart of this Agreement.

     Section 7.06 Severability. Any provision of this Agreement held to be invalid, illegal or
unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of
such invalidity, illegality or unenforceability without affecting the validity, legality and
enforceability of the remaining provisions hereof; and the invalidity of a particular provision in
a particular jurisdiction shall not invalidate such provision in any other jurisdiction.

     Section 7.07 Right of Setoff. If an Event of Default shall have occurred and be continuing, each
Lender is hereby authorized at any time and from time to time, to the fullest extent permitted by
law, to set off and apply any and all deposits (general or special, time or demand, provisional or
final) at any time held and other indebtedness at any time owing by such Lender to or for the
credit or the account of the Guarantor against any of and all the Guaranteed Obligations now or
hereafter existing under this Agreement and the other Loan Documents held by such Lender,
irrespective of whether or not such Lender shall have made any demand under this Agreement but only
to the extent such amounts are then due under this Agreement. Each Lender agrees promptly to
notify the Guarantor and the Administrative after any such setoff and application made by such
Lender; provided that the failure to give such notice shall not affect the validity of such
setoff. The rights of each Lender under this Section 7.07 are in addition to other rights
and remedies (including other rights of setoff) which such Lender may have.

     Section 7.08 Governing Law; Jurisdiction; Consent to Service of Process.

          (a) This Agreement shall be construed in accordance with and governed by the laws of the State
of New York.

          (b) ANY LEGAL ACTION OR PROCEEDING WITH RESPECT TO THIS AGREEMENT MAY BE BROUGHT IN THE COURTS
OF THE STATE OF NEW YORK SITTING IN THE BOROUGH OF MANHATTAN OR OF THE UNITED

22

 

STATES FOR THE SOUTHERN DISTRICT OF NEW YORK AND, BY EXECUTION AND DELIVERY OF THIS AGREEMENT, EACH OF THE PARTIES
HERETO HEREBY IRREVOCABLY ACCEPTS FOR ITSELF AND IN RESPECT OF ITS
PROPERTY AND ASSETS, UNCONDITIONALLY, THE NON-EXCLUSIVE JURISDICTION OF THE AFORESAID COURTS
WITH RESPECT TO ANY SUCH ACTION OR PROCEEDING. THE GUARANTOR FURTHER IRREVOCABLY CONSENTS TO THE
SERVICE OF PROCESS OUT OF ANY OF THE AFOREMENTIONED COURTS IN ANY SUCH ACTION OR PROCEEDING BY THE
MAILING OF COPIES THEREOF BY REGISTERED OR CERTIFIED MAIL, POSTAGE PREPAID, TO IT AT ITS ADDRESS
PROVIDED IN SECTION 7.01, SUCH SERVICE TO BECOME EFFECTIVE THIRTY DAYS AFTER SUCH MAILING.
NOTHING HEREIN SHALL AFFECT THE RIGHT OF THE ADMINISTRATIVE AGENT OR ANY LENDER TO SERVE PROCESS IN
ANY OTHER MANNER PERMITTED BY LAW OR TO COMMENCE LEGAL PROCEEDINGS OR OTHERWISE PROCEED AGAINST THE
GUARANTOR IN ANY OTHER JURISDICTION.

          (c) THE GUARANTOR HEREBY IRREVOCABLY WAIVES ANY OBJECTION WHICH IT MAY NOW OR HEREAFTER HAVE
TO THE LAYING OF VENUE OF ANY OF THE AFORESAID ACTIONS OR PROCEEDINGS ARISING OUT OF OR IN
CONNECTION WITH THIS AGREEMENT BROUGHT IN THE COURTS REFERRED TO IN CLAUSE (b) ABOVE AND HEREBY
FURTHER IRREVOCABLY WAIVES, TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, THE RIGHT TO PLEAD
OR CLAIM, AND AGREES NOT TO PLEAD OR CLAIM, THAT ANY SUCH ACTION OR PROCEEDING BROUGHT IN ANY SUCH
COURT HAS BEEN BROUGHT IN AN INCONVENIENT FORUM.

          (d) EACH PARTY HERETO HEREBY (i) IRREVOCABLY WAIVES, TO THE MAXIMUM EXTENT PERMITTED BY LAW,
ANY RIGHT IT MAY HAVE TO CLAIM OR RECOVER IN ANY SUCH LITIGATION ANY SPECIAL, EXEMPLARY, PUNITIVE
OR CONSEQUENTIAL DAMAGES, OR DAMAGES OTHER THAN, OR IN ADDITION TO, ACTUAL DAMAGES; (ii) CERTIFIES
THAT NO PARTY HERETO NOR ANY REPRESENTATIVE OR AGENT OR COUNSEL FOR ANY PARTY HERETO HAS
REPRESENTED, EXPRESSLY OR OTHERWISE, OR IMPLIED THAT SUCH PARTY WOULD NOT, IN THE EVENT OF
LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVERS; AND (iii) ACKNOWLEDGES THAT IT HAS BEEN INDUCED
TO ENTER INTO THIS AGREEMENT AND THE TRANSACTIONS CONTEMPLATED HEREBY AND THEREBY BY, AMONG OTHER
THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS CONTAINED IN THIS SECTION 7.08.

          Section 7.09 WAIVER OF JURY TRIAL. EACH PARTY HERETO HEREBY WAIVES, TO THE FULLEST EXTENT
PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING
DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS
CONTEMPLATED HEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY). EACH PARTY

23

 

HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS
REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF
LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES
HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS
AND CERTIFICATIONS IN THIS SECTION 7.09.

     Section 7.10 Confidentiality. The Administrative Agent and, by accepting the benefits of this
Agreement, each of the Issuing Banks and the Lenders agrees to maintain the confidentiality of the
Information (as defined below), except that Information may be disclosed (a) to its Affiliates,
directors, officers and employees and to its agents, including accountants, legal counsel and other
advisors who have been informed of the confidential nature of the information provided, (b) to the
extent requested by any regulatory authority, including the National Association of Insurance
Commissioners or any similar organization, or any nationally recognized rating agency that requires
access to information about a Lender’s investment portfolio, (c) to the extent a Lender reasonably
believes it is required by applicable laws or regulations or by any subpoena or similar legal
process (and such Lender will provide prompt notice thereof to the Guarantor), (d) to any other
party to this Agreement, (e) in connection with the exercise of any remedies hereunder or any suit,
action or proceeding relating to this Agreement or any other Loan Document or the enforcement of
rights hereunder or thereunder, (f) subject to an understanding with such Person that such Person
will comply with this Section 7.10, to any assignee of or Participant in, or any
prospective assignee of or Participant in, any of its rights or obligations under this Agreement,
(g) with the consent of the Guarantor or (h) to the extent such Information (i) becomes publicly
available other than as a result of a breach of this Section 7.10 or (ii) becomes available
to the Administrative Agent, any Issuing Bank or any Lender from a source other than the Guarantor
(unless such source is actually known by the individual providing the information to be bound by a
confidentiality agreement or other legal or contractual obligation of confidentiality with respect
to such information). For the purposes of this Section 7.10, “Information” means
all information received from the Guarantor relating to it or its business, other than any such
information that is known to a Lender, publicly known or otherwise available to the Administrative
Agent, any Issuing Bank or any Lender other than through disclosure (a) by the Guarantor, or (b)
from a source actually known to a Lender to be bound by a confidentiality agreement or other legal
or contractual obligation of confidentiality with respect to such information. Any Person required
to maintain the confidentiality of Information as provided in this Section 7.10 shall be
considered to have complied with its obligation to do so if such Person maintains the
confidentiality of such Information in accordance with procedures adopted in good faith to protect
confidential Information of third parties delivered to a lender.

     Section 7.11 EXCULPATION PROVISIONS. EACH OF THE PARTIES HERETO SPECIFICALLY AGREES THAT IT HAS A
DUTY TO READ THIS AGREEMENT, THE CREDIT AGREEMENT AND THE OTHER LOAN DOCUMENTS AND AGREES THAT IT
IS CHARGED WITH NOTICE AND KNOWLEDGE OF THE TERMS OF THIS AGREEMENT, THE CREDIT AGREEMENT AND THE
OTHER LOAN DOCUMENTS, THAT IT HAS IN FACT READ THIS
AGREEMENT AND IS FULLY INFORMED AND HAS FULL NOTICE AND KNOWLEDGE OF THE TERMS, CONDITIONS AND
EFFECTS

24

 

OF THIS AGREEMENT, THE CREDIT AGREEMENT AND THE OTHER LOAN DOCUMENTS, THAT IT HAS BEEN
REPRESENTED BY INDEPENDENT LEGAL COUNSEL OF ITS CHOICE THROUGHOUT THE NEGOTIATIONS PRECEDING ITS
EXECUTION OF THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS, HAS RECEIVED THE ADVICE OF ITS ATTORNEY
IN ENTERING INTO THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS, AND THAT IT RECOGNIZES THAT CERTAIN
OF THE TERMS OF THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS RESULT IN ONE PARTY ASSUMING THE
LIABILITY INHERENT IN SOME ASPECTS OF THE TRANSACTION AND RELIEVING THE OTHER PARTY OF ITS
RESPONSIBILITY FOR SUCH LIABILITY. EACH PARTY HERETO AGREES AND COVENANTS THAT IT WILL NOT CONTEST
THE VALIDITY OR ENFORCEABILITY OF ANY EXCULPATORY PROVISION OF THIS AGREEMENT ON THE BASIS THAT THE
PARTY HAD NO NOTICE OR KNOWLEDGE OF SUCH PROVISION OR THAT THE PROVISION IS NOT “CONSPICUOUS”.

     Section 7.12 U.S. Patriot Act. The Administrative Agent, on behalf of each Lender that is subject
to the requirements of the USA Patriot Act (Title III of Pub. L. 107—56 (signed into law October
26, 2001)) (the “Patriot Act”), hereby notifies the Guarantor that pursuant to the
requirements of the Patriot Act, each such Lender is required to obtain, verify, and record
information that identifies the Guarantor, which information includes the name and address of the
Guarantor and other information that will allow such Lender to identify the Guarantor in accordance
with the Patriot Act.

25

 

     The parties hereto have caused this Agreement to be duly executed as of the date and year
first above written.

	 	 	 	 	 
	 	NISOURCE INC.,

as the Guarantor

 	 
	 	By:  	/s/ David J. Vajda
 	 
	 	 	Name:  	David J. Vajda 	 
	 	 	Title:  	Vice President and Treasurer 	 
	 

[Signature Page to NiSource Guaranty]

 

 

	 	 	 	 	 
	 	JPMORGAN CHASE BANK, N.A.

as the Administrative Agent

 	 
	 	By:  	/s/ Nelson Ho
 	 
	 	 	Name:  	Nelson Ho 	 
	 	 	Title:  	Vice President 	 
	 

[Signature Page to NiSource Guaranty]EX-10.1 AMENDED AND RESTATED CREDIT AGREEMENT

 

EXHIBIT 10.1

 

 

Published CUSIP Number:                                         

AMENDED AND RESTATED CREDIT AGREEMENT

Dated as of August 29, 2007

among

COUSINS PROPERTIES INCORPORATED

as the Principal Borrower,

THE CONSOLIDATED ENTITIES OF THE BORROWER FROM TIME TO

TIME DESIGNATED BY THE BORROWER AS CO-BORROWERS

HEREUNDER,

collectively, with the Borrower, as the Borrower Parties

THE CONSOLIDATED ENTITIES OF THE BORROWER

FROM TIME TO TIME PARTY HERETO

as the Guarantors

BANK OF AMERICA, N.A.,

as Administrative Agent, Swing Line Lender and L/C Issuer,

BANC OF AMERICA SECURITIES LLC

as Sole Lead Arranger and Sole Book Manager,

EUROHYPO AG, NEW YORK BRANCH,

as Syndication Agent,

PNC BANK, NATIONAL ASSOCIATION, WACHOVIA BANK, NATIONAL

ASSOCIATION and WELLS FARGO BANK, NATIONAL ASSOCIATION,

as Documentation Agents,

NORDDEUTSCHE LANDESBANK GIROZENTRALE,

as Managing Agent,

AAREAL BANK AG, CHARTER ONE BANK, N.A. and REGIONS BANK,

as Co-Agents,

and

THE OTHER LENDERS PARTY HERETO

 

 

 

 

TABLE OF CONTENTS

	 	 	 	 	 	 	 
	Section	 	 	 	Page	 
	 
	 	 	 	 	 	 
	ARTICLE I DEFINITIONS AND ACCOUNTING TERMS	 	 	1	 
	1.01
	 	Defined Terms	 	 	1	 
	1.02
	 	Other Interpretive Provisions	 	 	34	 
	1.03
	 	Accounting Terms	 	 	35	 
	1.04
	 	Rounding	 	 	35	 
	1.05
	 	References to Agreements and Laws	 	 	35	 
	1.06
	 	Times of Day	 	 	35	 
	1.07
	 	Letter of Credit Amounts	 	 	36	 
	 
	 	 	 	 	 	 
	ARTICLE II THE COMMITMENTS AND CREDIT EXTENSIONS	 	 	36	 
	2.01
	 	Loans	 	 	36	 
	2.02
	 	Borrowings, Conversions and Continuations of Loans	 	 	36	 
	2.03
	 	Letters of Credit	 	 	38	 
	2.04
	 	Swing Line Loans	 	 	48	 
	2.05
	 	Prepayments	 	 	51	 
	2.06
	 	Termination or Reduction of Revolving Credit Commitments; Increase of Facilities	 	 	53	 
	2.07
	 	Repayment of Loans	 	 	55	 
	2.08
	 	Interest	 	 	55	 
	2.09
	 	Fees	 	 	57	 
	2.10
	 	Computation of Interest and Fees; Retroactive Adjustments of Applicable Rates	 	 	57	 
	2.11
	 	Evidence of Debt	 	 	58	 
	2.12
	 	Payments Generally	 	 	59	 
	2.13
	 	Sharing of Payments	 	 	60	 
	2.14
	 	Maturity Date	 	 	61	 
	2.15
	 	Joint and Several Liability of Borrower Parties	 	 	62	 
	2.16
	 	Appointment of Borrower as Agent for Borrower Parties	 	 	64	 
	2.17
	 	Tax Driven Lease Transactions	 	 	64	 
	 
	 	 	 	 	 	 
	ARTICLE III TAXES, YIELD PROTECTION AND ILLEGALITY	 	 	64	 
	3.01
	 	Taxes	 	 	64	 
	3.02
	 	Illegality	 	 	65	 

 

 

	 	 	 	 	 	 	 
	Section	 	 	 	Page	 
	 
	 	 	 	 	 	 
	3.03
	 	Inability to Determine Rates	 	 	66	 
	3.04
	 	Increased Cost; Reduced Return; Capital Adequacy; Reserves	 	 	66	 
	3.05
	 	Compensation for Losses	 	 	67	 
	3.06
	 	Matters Applicable to all Requests for Compensation	 	 	67	 
	3.07
	 	Survival	 	 	68	 
	 
	 	 	 	 	 	 
	ARTICLE IV CONDITIONS PRECEDENT TO CREDIT EXTENSIONS	 	 	68	 
	4.01
	 	Conditions of Initial Credit Extension	 	 	68	 
	4.02
	 	Conditions to all Credit Extensions	 	 	70	 
	 
	 	 	 	 	 	 
	ARTICLE V REPRESENTATIONS AND WARRANTIES	 	 	71	 
	5.01
	 	Existence, Qualification and Power; Compliance with Laws	 	 	71	 
	5.02
	 	Authorization; No Contravention	 	 	71	 
	5.03
	 	Governmental Authorization; Other Consents	 	 	71	 
	5.04
	 	Binding Effect	 	 	71	 
	5.05
	 	Financial Statements; No Material Adverse Effect	 	 	72	 
	5.06
	 	Litigation	 	 	72	 
	5.07
	 	No Default	 	 	73	 
	5.08
	 	Ownership of Property; Liens	 	 	73	 
	5.09
	 	Environmental Compliance	 	 	73	 
	5.10
	 	Insurance	 	 	73	 
	5.11
	 	Taxes	 	 	73	 
	5.12
	 	ERISA Compliance	 	 	74	 
	5.13
	 	Consolidated Entities; REIT Status	 	 	74	 
	5.14
	 	Margin Regulations; Investment Company Act; Public Utility Holding Company Act	 	 	75	 
	5.15
	 	Disclosure	 	 	75	 
	5.16
	 	Compliance with Laws	 	 	75	 
	5.17
	 	Intellectual Property; Licenses,
Etc.	 	 	75	 
	5.18
	 	Taxpayer Identification Number	 	 	76	 
	 
	 	 	 	 	 	 
	ARTICLE VI AFFIRMATIVE COVENANTS	 	 	76	 
	6.01
	 	Financial Statements	 	 	76	 
	6.02
	 	Certificates; Other Information	 	 	77	 
	6.03
	 	Notices	 	 	78	 

2

 

	 	 	 	 	 	 	 
	Section	 	 	 	Page	 
	 
	 	 	 	 	 	 
	6.04
	 	Payment of Obligations	 	 	79	 
	6.05
	 	Preservation of Existence, Etc	 	 	79	 
	6.06
	 	Maintenance of Properties	 	 	80	 
	6.07
	 	Maintenance of Insurance	 	 	80	 
	6.08
	 	Compliance with Laws	 	 	80	 
	6.09
	 	Books and Records	 	 	80	 
	6.10
	 	Inspection Rights	 	 	80	 
	6.11
	 	Use of Proceeds	 	 	81	 
	6.12
	 	Additional Guarantors; Creation of Co-Borrowers; Release of Co-Borrowers	 	 	81	 
	 
	 	 	 	 	 	 
	ARTICLE VII NEGATIVE COVENANTS	 	 	83	 
	7.01
	 	Liens	 	 	83	 
	7.02
	 	Investments	 	 	84	 
	7.03
	 	Indebtedness	 	 	84	 
	7.04
	 	Fundamental Changes	 	 	85	 
	7.05
	 	Dispositions	 	 	86	 
	7.06
	 	Restricted Payments	 	 	86	 
	7.07
	 	Intentionally Omitted	 	 	87	 
	7.08
	 	Transactions with Affiliates	 	 	87	 
	7.09
	 	Intentionally Omitted	 	 	87	 
	7.10
	 	Use of Proceeds	 	 	87	 
	7.11
	 	Financial Covenants	 	 	87	 
	7.12
	 	Prepayment of Other Indebtedness, Etc	 	 	88	 
	7.13
	 	Organization Documents; Subsidiaries	 	 	88	 
	7.14
	 	Tax Driven Lease Transactions	 	 	88	 
	 
	 	 	 	 	 	 
	ARTICLE VIII EVENTS OF DEFAULT AND REMEDIES	 	 	89	 
	8.01
	 	Events of Default	 	 	89	 
	8.02
	 	Remedies Upon Event of Default	 	 	91	 
	8.03
	 	Application of Funds	 	 	92	 
	 
	 	 	 	 	 	 
	ARTICLE IX ADMINISTRATIVE AGENT	 	 	93	 
	9.01
	 	Appointment and Authorization of Administrative Agent	 	 	93	 
	9.02
	 	Delegation of Duties	 	 	93	 

3

 

	 	 	 	 	 	 	 
	Section	 	 	 	Page	 
	 
	 	 	 	 	 	 
	9.03
	 	Liability of Administrative Agent	 	 	94	 
	9.04
	 	Reliance by Administrative Agent	 	 	94	 
	9.05
	 	Notice of Default	 	 	95	 
	9.06
	 	Credit Decision; Disclosure of Information by Administrative Agent	 	 	95	 
	9.07
	 	Indemnification of Administrative Agent	 	 	95	 
	9.08
	 	Administrative Agent in its Individual Capacity	 	 	96	 
	9.09
	 	Successor Administrative Agent	 	 	96	 
	9.10
	 	Administrative Agent May File Proofs of Claim	 	 	97	 
	9.11
	 	Guaranty/Borrower Party Matters	 	 	98	 
	9.12
	 	Other Agents; Arrangers and Managers	 	 	99	 
	 
	 	 	 	 	 	 
	ARTICLE X MISCELLANEOUS	 	 	99	 
	10.01
	 	Amendments, Etc	 	 	99	 
	10.02
	 	Notices and Other Communications; Facsimile Copies	 	 	101	 
	10.03
	 	No Waiver; Cumulative Remedies	 	 	103	 
	10.04
	 	Attorney Costs, Expenses and Taxes	 	 	103	 
	10.05
	 	Indemnification by the Borrower	 	 	103	 
	10.06
	 	Payments Set Aside	 	 	104	 
	10.07
	 	Successors and Assigns	 	 	105	 
	10.08
	 	Confidentiality	 	 	109	 
	10.09
	 	Set-off	 	 	110	 
	10.10
	 	Interest Rate Limitation	 	 	110	 
	10.11
	 	Counterparts	 	 	111	 
	10.12
	 	Integration	 	 	111	 
	10.13
	 	Survival of Representations and Warranties	 	 	111	 
	10.14
	 	Severability	 	 	111	 
	10.15
	 	Tax Forms	 	 	112	 
	10.16
	 	Replacement of Lenders	 	 	113	 
	10.17
	 	Governing Law	 	 	114	 
	10.18
	 	Waiver of Right to Trial by Jury	 	 	114	 
	10.19
	 	No Advisory or Fiduciary Responsibility	 	 	115	 
	10.20
	 	USA PATRIOT Act Notice	 	 	116	 
	10.21
	 	Attorneys’ Fees	 	 	116	 

4

 

	 	 	 	 	 	 	 
	Section	 	 	 	Page	 
	 
	 	 	 	 	 	 
	10.22
	 	Existing Credit Agreement.	 	 	116	 
	 
	 	 	 	 	 	 
	ARTICLE XI GUARANTY	 	 	116	 
	11.01
	 	The Guaranty	 	 	116	 
	11.02
	 	Obligations Unconditional	 	 	117	 
	11.03
	 	Reinstatement	 	 	118	 
	11.04
	 	Certain Additional Waivers	 	 	118	 
	11.05
	 	Remedies	 	 	118	 
	11.06
	 	Rights of Contribution	 	 	119	 
	11.07
	 	Guarantee of Payment; Continuing Guarantee	 	 	119	 

5

 

SCHEDULES

	 	 	 	 	 
	 	1.1	(a)	 	Existing Letters of Credit

	 	1.1	(b)	 	Investment Entities

	 	2.01	(a)	 	Revolving Credit Commitments and Pro Rata Shares

	 	2.01	(b)	 	Term Commitments and Pro Rata Shares

	 	5.05	 	 	Supplement to Interim Financial Statements

	 	5.06	 	 	Litigation

	 	5.09	 	 	Environmental Matters

	 	5.12	 	 	ERISA Matters

	 	5.13	 	 	Consolidated Entities and Other Equity Investments

	 	5.17	 	 	Intellectual Property Matters

	 	10.02	 	 	Administrative Agent’s Office, Certain Addresses for Notices

	 	10.07	 	 	Processing and Recordation Fees

	 	 	 	 	 

	EXHIBITS
	 	 

	 	 	 	 	 

	 	A	 	 	Form of Revolving Loan Notice

	 	B	 	 	Form of Term Loan Notice

	 	C	 	 	Form of Swing Line Loan Notice

	 	D	-1 	 	Form of Revolving Credit Note

	 	D	-2 	 	Form of Term Note

	 	E	 	 	Form of Compliance Certificate

	 	F	 	 	Form of Assignment and Assumption

	 	G	 	 	Form of Guarantor Joinder Agreement

	 	H	 	 	Form of Co-Borrower Joinder Agreement

AMENDED AND RESTATED CREDIT AGREEMENT

     This Amended and Restated CREDIT AGREEMENT (“Agreement”) is entered into as of August
29, 2007, among COUSINS PROPERTIES INCORPORATED, a Georgia corporation (the “Borrower”),
the parties from time to time identified by the Borrower as Co-Borrowers pursuant to Section
6.12 hereof, the Guarantors (as defined herein), each lender from time to time party hereto
(collectively, the “Lenders” and individually, a “Lender”), BANK OF AMERICA, N.A.,
as Administrative Agent, Swing Line Lender and L/C Issuer, BANC OF AMERICA SECURITIES LLC, as Sole
Lead Arranger and Sole Book Manager, EUROHYPO AG, NEW YORK BRANCH, as Syndication Agent, PNC BANK,
NATIONAL ASSOCIATION, WACHOVIA BANK, NATIONAL ASSOCIATION, and WELLS FARGO BANK, NATIONAL
ASSOCIATION, as Documentation Agents, NORDDEUTSCHE

6

 

LANDESBANK GIROZENTRALE, as Managing Agent and AAREAL BANK AG, CHARTER ONE BANK, N.A. and
REGIONS BANK, as Co-Agents.

     The Borrower, the Co-Borrowers and the guarantors party thereto, each lender party thereto,
the Administrative Agent and certain other agents are parties to that certain Amended and Restated
Credit Agreement, dated as of March 7, 2006 (as amended to the date hereof, the “Existing
Credit Agreement”).

     The Borrower and the Co-Borrowers have requested that the Lenders amend, increase and restate
the Existing Credit Agreement to, among other things, provide a term credit facility for the
purpose of reducing the outstanding principal balance of certain existing indebtedness of the
Borrower and to increase the principal amount of the revolving credit facility thereunder, and the
Lenders are willing to do so on the terms and conditions set forth herein.

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

ARTICLE I

DEFINITIONS AND ACCOUNTING TERMS

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

     “191 Peachtree Building” means the 1,215,000 square foot office building located at
191 Peachtree Street in Atlanta, Georgia.

     “Adjusted Consolidated EBITDA” means, for any period, an amount equal to (a)
Consolidated EBITDA for such period, less (b) a deemed capital expenditures reserve deduction equal
to, on an annual basis, (i) $0.35 per rentable square foot of all Income Producing Assets (or any
portion thereof) which constitutes office space; (ii) $0.15 per rentable square foot of all Income
Producing Assets (or any portion thereof) which constitutes retail space; (iii) $0.15 per rentable
square foot of all Income Producing Assets (or any portion thereof) which constitutes industrial
space; (iv) $200.00 per unit for all Income Producing Assets (or any portion thereof) which
constitutes apartments and (v) with respect to any asset approved by the Administrative Agent
pursuant to clause (v) of the definition of “Applicable Capitalization Rate” such commercially
reasonable reserve as agreed to between the Borrower and the Administrative Agent.

     “Adjusted Unencumbered EBITDA” means, for any period, that portion of Adjusted
Consolidated EBITDA for such period generated by Unencumbered Properties (following deductions for
deemed capital expenditure reserves applicable to such Unencumbered Properties as set forth in the
definition of Adjusted Consolidated EBITDA).

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

7

 

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

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

     “Affiliate” means, with respect to any Person, another Person that directly, or
indirectly through one or more intermediaries, Controls or is Controlled by or is under common
Control with the Person specified. “Control” means the possession, directly or indirectly,
of the power to direct or cause the direction of the management or policies of a Person, whether
through the ability to exercise voting power, by contract or otherwise. “Controlling” and
“Controlled” have meanings correlative thereto. Without limiting the generality of the
foregoing, a Person shall be deemed to be Controlled by another Person if such other Person
possesses, directly or indirectly, power to vote 10% or more of the securities having ordinary
voting power for the election of directors, managing general partners or the equivalent.

     “Agent-Related Persons” means the Administrative Agent, together with its
Affiliates (including, in the case of Bank of America in its capacity as the Administrative Agent,
the Arranger), and the officers, directors, employees, agents and attorneys-in-fact of such Persons
and Affiliates.

     “Aggregate Revolving Credit Commitments” means the aggregate Revolving Credit
Commitments of all the Revolving Credit Lenders, as adjusted from time to time in accordance with
the terms of this Agreement. The Aggregate Revolving Credit Commitments as of the Closing Date
shall be $500,000,000.

     “Agreement” means this Amended and Restated Credit Agreement, as the same may be
amended, restated, supplemented or modified from time to time in accordance with its terms.

     “Applicable Capitalization Rate” means (i) 7.75% for Income Producing Assets primarily
constituting office space; (ii) 7.75% for Income Producing Assets primarily constituting retail
space, (iii) 7.75% for Income Producing Assets primarily constituting industrial space, (iv) 7.00%
for Income Producing Assets primarily constituting apartments and (v) 8.00% for other Income
Producing Assets that are not described in clauses (i), (ii), (iii) and (iv) preceding;
provided, that, in order for any Income Producing Assets to be included in
calculations under this Agreement pursuant to this clause (v), such Income Producing Assets must be
approved for inclusion by the Administrative Agent.

     “Applicable Rate” means, from time to time, for the purposes of calculating (a) the
interest rate applicable to Eurodollar Rate Loans for the purposes of Section 2.08, (b) the
interest rate applicable to Base Rate Loans for the purposes of Section 2.08 or (c) the
Letter of Credit Fee for the purposes of Section 2.03(i), the following percentages per
annum, based upon the Consolidated Leverage Ratio as set forth in the most recent Compliance
Certificate received by the Administrative Agent pursuant to Section 6.02(b):

8

 

     For the Revolving Credit Facility:

     Applicable Rate

	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Eurodollar Rate	 	 	 
	 	 	 	Consolidated	 	 	Loans	 	 	 
	Pricing Level	 	 	Leverage Ratio	 	 	Letter of Credit Fee	 	 	Base Rate Loans
	 	 	 	 	 	 	 	 	 	 
	1

	 	 	£ 0.35:1
	 	 	 	0.75	%	 	 	 	0	%
	2

	 	 	> 0.35:1 but
£ 0.45:1
	 	 	 	0.85	%	 	 	 	0	%
	3

	 	 	> 0.45:1 but £
0.50:1
	 	 	 	0.95 	%	 	 	 	0	%
	4

	 	 	> 0.50:1 but
£ 0.55:1
	 	 	 	1.10	%	 	 	 	0	%
	5

	 	 	> 0.55:1
	 	 	 	1.25	%	 	 	 	0	%

     For the Term Facility:

     Applicable Rate

	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	Consolidated	 	 	Eurodollar Rate	 	 	 
	Pricing Level	 	 	Leverage Ratio	 	 	Loans	 	 	Base Rate Loans
	 	 	 	 	 	 	 	 	 	 
	1

	 	 	£ 0.35:1
	 	 	 	0.70	%	 	 	 	0	%
	2

	 	 	> 0.35:1 but
£ 0.45:1
	 	 	 	0.80	%	 	 	 	0	%
	3

	 	 	> 0.45:1 but £
0.50:1
	 	 	 	0.90 	%	 	 	 	0	%
	4

	 	 	> 0.50:1 but
£ 0.55:1
	 	 	 	1.05	%	 	 	 	0	%
	5

	 	 	> 0.55:1
	 	 	 	1.20	%	 	 	 	0	%

     Any increase or decrease in the Applicable Rate resulting from a change in the Consolidated
Leverage Ratio shall become effective as of the first Business Day immediately following the date a
Compliance Certificate is delivered pursuant to Section 6.02(b); provided,
however, that if a Compliance Certificate is not delivered when due in accordance with such
Section, then Pricing Level 5 shall apply as of the first Business Day after the date on which such
Compliance Certificate was required to have been delivered (until such time as such delinquent
Compliance Certificate is delivered). The Applicable Rate in effect on the Closing Date shall be
Pricing Level 2.

     “Appropriate Lender” means, at any time, (a) with respect to any of the Term Facility
or the Revolving Credit Facility, a Lender that has a Commitment with respect to such Facility or
holds a Term Loan or a Revolving Credit Loan, respectively, at such time, (b) with respect to the
Letter of Credit Sublimit, (i) the L/C Issuer and (ii) if any Letters of Credit have been issued
pursuant to Section 2.03(a), the Revolving Credit Lenders and (c) with respect to the
Swing Line

9

 

Sublimit, (i) the Swing Line Lender and (ii) if any Swing Line Loans are outstanding
pursuant to Section 2.04(a), the Revolving Credit Lenders.

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

     “Arranger” means a collective reference to Banc of America Securities LLC in its
capacity as sole lead arranger and sole book manager.

     “Assignee Group” means two or more Eligible Assignees that are Affiliates of one
another or two or more Approved Funds managed by the same investment advisor.

     “Assignment and Assumption” means an Assignment and Assumption substantially in the
form of Exhibit F.

     “Attorney Costs” means and includes all reasonable fees, expenses and disbursements of
any law firm or other external counsel.

     “Attributable Indebtedness” means, on any date, (a) in respect of any capital lease of
any Person, the capitalized amount thereof that would appear on a balance sheet of such Person
prepared as of such date in accordance with GAAP, and (b) in respect of any Synthetic Lease
Obligation, the capitalized amount of the remaining lease payments under the relevant lease that
would appear on a balance sheet of such Person prepared as of such date in accordance with GAAP if
such lease were accounted for as a capital lease. Notwithstanding the foregoing, Attributable
Indebtedness shall not include the Attributable Indebtedness of Investment Entities except to the
extent any other Unconsolidated Entity or Consolidated Entity is liable for the same (disregarding
any liability with respect to customary recourse carve-outs applicable to any non-recourse secured
Attributable Indebtedness and disregarding any general partnership liability of the Designated
Entities).

     “Audited Financial Statements” means the audited consolidated balance sheets of the
Borrower and the Consolidated Entities for the calendar year ended December 31, 2006, and the
related consolidated statements of income or operations, shareholders’ equity and cash flows for
such calendar year of such Persons, including the notes thereto.

     “Availability Period” means the period from and including the Closing Date to the
earliest of (a) the Maturity Date for the Revolving Credit Facility, (b) the date of termination of
the Aggregate Revolving Credit Commitments pursuant to Section 2.06, and (c) the date of
termination of the Revolving Credit Commitment of each Lender to make Revolving Credit Loans, the
obligation of the L/C Issuer to make L/C Credit Extensions and the obligation of the Swing Line
Lender to make Swing Line Loans pursuant to Section 8.02.

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

     “Bankruptcy Code” means the Bankruptcy Code in Title 11 of the United States Code, as
amended, modified, succeeded or replaced from time to time.

10

 

     “Base Rate” means for any day a fluctuating rate per annum equal to the
higher of (a) the Federal Funds Rate plus 1/2 of 1% and (b) the rate of interest in effect for such
day as publicly
announced from time to time by the Administrative Agent as its “prime rate.” The “prime rate”
is a rate set by the Administrative Agent based upon various factors including the Administrative
Agent’s costs and desired return, general economic conditions and other factors, and is used as a
reference point for pricing some loans, which may be priced at, above, or below such announced
rate. Any change in such rate announced by the Administrative Agent shall take effect at the
opening of business on the day specified in the public announcement of such change.

     “Base Rate Loan” means (i) a Term Loan or a Revolving Credit Loan that bears interest
based on the Base Rate, or (ii) a Swing Line Loan.

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

     “Borrowing” means (i) a borrowing consisting of simultaneous Term Loans or Revolving
Credit Loans of the same Type and, in the case of Eurodollar Rate Loans, having the same Interest
Period made by each of the Lenders pursuant to Section 2.01, or (ii) a Swing Line
Borrowing.

     “Borrower Materials” has the meaning specified in Section 6.02.

     “Borrower Parties” means, as of any date of determination, a collective reference to
the Borrower and each party that has been identified by the Borrower as a Co-Borrower under the
Facilities pursuant to Section 6.12 hereof and has not, prior to or as of such date of
determination, been released as a Co-Borrower pursuant to such section.

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

     “Capital Lease Obligations” means, as to any Person, the obligations of such Person
under a lease that are required to be classified and accounted for as capital lease obligations
under GAAP and, for purposes of this definition, the amount of such obligations at any date shall
be the capitalized amount of such obligations at such date, determined in accordance with GAAP.

     “Capital Stock” means any and all shares, interests or other equivalents (however
designated) of capital stock of a corporation, any and all equivalent equity ownership interests in
a Person that is not a corporation, including, without limitation, any and all member or other
equivalent interests in any limited liability company or partnership interests or other equivalents
in any kind of partnership, and any and all warrants or options to purchase any of the foregoing.

     “Cash Collateralize” has the meaning specified in Section 2.03(g).

11

 

     “Cash Equivalents” means, as at any date, (a) securities issued or directly and fully
guaranteed or insured by the United States or any agency or instrumentality thereof (provided that
the full faith and credit of the United States is pledged in support thereof) having maturities
of not more than ninety (90) days from the date of acquisition, (b) Dollar denominated time
deposits and certificates of deposit of (i) any Lender, (ii) any domestic commercial bank of
recognized standing having capital and surplus in excess of $500,000,000 or (iii) any bank whose
short-term commercial paper rating from S&P is at least A-1 or the equivalent thereof or from
Moody’s is at least P-1 or the equivalent thereof (any such bank being an “Approved Bank”),
in each case with maturities of not more than ninety (90) days from the date of acquisition, (c)
commercial paper and variable or fixed rate notes issued by any Approved Bank (or by the parent
company thereof) or any variable rate notes issued by, or guaranteed by, any domestic corporation
rated A-1 (or the equivalent thereof) or better by S&P or P-1 (or the equivalent thereof) or better
by Moody’s and maturing within ninety (90) days of the date of acquisition and (d) Investments,
classified in accordance with GAAP as current assets, in money market investment programs
registered under the Investment Company Act of 1940, as amended, which are administered by
reputable financial institutions having capital of at least $500,000,000 and the portfolios of
which are limited to Investments of the character described in the foregoing subdivisions (a)
through (d).

     “Change of Control” means, with respect to any Person, an event or series of events by
which:

     (a) any “person” or “group” (as such terms are used in Sections 13(d) and 14(d) of the
Securities Exchange Act of 1934, but excluding any employee benefit plan of such person or
its subsidiaries, and any person or entity acting in its capacity as trustee, agent or other
fiduciary or administrator of any such plan) becomes the “beneficial owner” (as defined in
Rules 13d-3 and 13d-5 under the Securities Exchange Act of 1934, except that a person or
group shall be deemed to have “beneficial ownership” of all securities that such person or
group has the right to acquire which are granted by such Person (such right, an “option
right”), whether such right is exercisable immediately or only after the passage of
time), directly or indirectly, of 25% (or, in the case of Thomas G. Cousins, 40%) or more of
the equity securities of such Person entitled to vote for members of the board of directors
or equivalent governing body of such Person on a fully-diluted basis (and taking into
account all such securities that such person or group has the right to acquire pursuant to
any option right granted by such Person); or

     (b) during any period of 12 consecutive months, a majority of the members of the board
of directors or other equivalent governing body of such Person cease to be composed of
individuals (i) who were members of that board or equivalent governing body on the first day
of such period, (ii) whose election or nomination to that board or equivalent governing body
was approved by individuals referred to in clause (i) above constituting at the time of such
election or nomination at least a majority of that board or equivalent governing body or
(iii) whose election or nomination to that board or other equivalent governing body was
approved by individuals referred to in clauses (i) and (ii) above constituting at the time
of such election or nomination at least a majority of that board or equivalent governing
body (excluding, in the case of both clause (ii) and clause

12

 

(iii), any individual whose
initial nomination for, or assumption of office as, a member of that board or equivalent
governing body occurs as a result of an actual or threatened solicitation of proxies or
consents for the election or removal of one or more directors by
any person or group other than a solicitation for the election of one or more directors
by or on behalf of the board of directors).

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

     “Co-Borrower” has the meaning specified in Section 6.12 hereof.

     “Co-Borrower Joinder Agreement” means a Co-Borrower Joinder Agreement substantially in
the form of Exhibit H hereto, executed and delivered by a new Co-Borrower in accordance
with the provisions of Section 6.12.

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

     “Combined Parties” means the Borrower, the Consolidated Entities and the
Unconsolidated Entities.

     “Commitment” means (i) the Term Commitment of any Term Lender, (ii) the Revolving
Credit Commitment of any Revolving Credit Lender, (iii) the aggregate Term Commitments of all Term
Lenders and/or (iv) the Aggregate Revolving Credit Commitments, in each case, as the context may
require.

     “Compliance Certificate” means a certificate substantially in the form of Exhibit
E.

     “Consolidated EBITDA” means, for any period, for the Borrower and the Consolidated
Entities on a consolidated basis, an amount equal to Consolidated Net Income for such period
plus the following to the extent deducted in calculating such Consolidated Net Income: (a)
Interest Expense for such period, (b) the provision for federal, state, local and foreign income
taxes payable by the Borrower and the Consolidated Entities for such period, (c) the amount of
depreciation and amortization expense deducted in determining such Consolidated Net Income, and (d)
proceeds attributable to minority interests.

     “Consolidated Entities” means any Person (other than an Investment Entity) in which
the Borrower owns any Capital Stock, the accounts of which Person are consolidated with those of
the Borrower in accordance with GAAP.

     “Consolidated Fixed Charge Coverage Ratio” means, as of any date of determination, the
ratio of (a) Adjusted Consolidated EBITDA for the Measurement Period ending on such date to (b)
Fixed Charges for such Measurement Period.

     “Consolidated Leverage Ratio” means, as of any date of determination, the ratio of (a)
the sum of (i) Total Debt as of such date, plus (ii) fifty percent (50%) of all issued and
outstanding Trust Preferred Securities as of such date until the aggregate amount of issued and
outstanding Trust Preferred Securities equals $150,000,000, plus (iii) one hundred percent (100%)
of all

13

 

issued and outstanding Trust Preferred Securities as of such date in excess of $150,000,000
to (b) Total Assets as of such date.

     “Consolidated Net Income” means, for any period, for the Borrower and the Consolidated
Entities on a consolidated basis determined in accordance with GAAP, the net income of the Borrower
and the Consolidated Entities (excluding the effect of any extraordinary gains or losses or other
non-cash gains or losses outside the ordinary course of business or gains or losses on sales of
investment property (including any impairment charges, whether or not incurred in connection with
the sale of depreciated investment property or otherwise)) for that period; provided, that net
income shall not, in any case, include any income allocable to Capital Stock interests of any Loan
Party (other than the Borrower) or any Affiliate of the Borrower or any other Loan Party (whether
by virtue of the organizational documents of such entity or contractual arrangement) held by third
parties other than the Borrower and the Consolidated Entities.

     “Consolidated Parties” means a collective reference to the Borrower and the
Consolidated Entities, and “Consolidated Party” means any one of them.

     “Consolidated Unencumbered Interest Coverage Ratio” means, as of any date of
determination, the ratio of (a) Adjusted Unencumbered EBITDA for the Measurement Period ending on
such date to (b) Interest Expense for Unsecured Debt for such Measurement Period.

     “Contractual Obligation” means, as to any Person, any provision of any security issued
by such Person or of any agreement, instrument or other undertaking to which such Person is a party
or by which it or any of its property is bound.

     “Control” has the meaning specified in the definition of “Affiliate.”

     “Credit Extension” means each of the following: (a) a Borrowing and (b) an L/C Credit
Extension.

     “DAFC” means the Development Authority of Fulton County, Georgia.

     “DAFC Indentures” means the DAFC Terminus Indenture and the DAFC 191 Indenture.

     “DAFC Leases” means the DAFC Terminus Lease and the DAFC 191 Lease.

     “DAFC 191 Indenture” means that certain Bond Purchase Agreement, dated as of December
27, 2006, between the DAFC and One Ninety One Peachtree Associates, LLC, a wholly-owned subsidiary
of the Borrower.

     “DAFC 191 Lease” means that certain Lease Agreement, dated as of December 1, 2006,
between the DAFC and One Ninety One Peachtree Associates, LLC, a wholly-owned subsidiary of the
Borrower.

     “DAFC Terminus Indenture” means that certain Bond Purchase Agreement, dated as of
December 27, 2006, between the DAFC and 3280 Peachtree I LLC, a wholly-owned subsidiary of the
Borrower.

14

 

     “DAFC Terminus Lease” means that certain Lease Agreement, dated as of December 1,
2006, between the DAFC and 3280 Peachtree I LLC, a wholly-owned subsidiary of the Borrower.

     “DAFC Transactions” means the conveyance of the Terminus Project and the 191 Building
to DAFC and the consummation of the transactions evidenced and contemplated by the DAFC Indentures
and the DAFC Leases.

     “Daily Undrawn Amount” means, for each day during the term hereof, an amount equal to
(a) the Aggregate Revolving Credit Commitments existing as of the end of such day, less (b)
the aggregate Outstanding Amount (with respect to both Revolving Credit Loans and L/C Obligations)
as of the end of such day.

     “Daily Unused Fee” means, for each day during the term hereof, an amount equal to (a)
the Daily Undrawn Amount for such day, multiplied by (b) a per diem percentage rate (for a
360 day year) based on an annum percentage rate calculated in accordance with the following:

	 	 	 	 	 
	Daily Unused Percentage	 	Applicable per annum %
	> 50.0%
	 	 	0.200	%
	£ 50.0%
	 	 	0.125	%

     “Daily Unused Percentage” means, for any day during the term hereof, a percentage
equal to (a) the Daily Undrawn Amount as of the end of such day, divided by (b) the
Aggregate Revolving Credit Commitments as of the end of such day.

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

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

     “Default Rate” means (a) when used with respect to Obligations other than Letter of
Credit Fees or Swing Line Loans, an interest rate equal to (i) the Base Rate plus (ii) the
Applicable Rate, if any, for a Facility applicable to Base Rate Loans outstanding under such
Facility, plus (iii) 2% per annum; provided, however, that with respect to
a Eurodollar Rate Loan, the Default Rate shall be an interest rate equal to the interest rate
(including any Applicable Rate for a Facility) otherwise applicable to such Loan outstanding under
such Facility, plus 2% per annum, (b) when used with respect to Swing Line Loans, an interest rate
equal to (i) the Base Rate plus (ii) 1% per annum, and (c) when used with respect to Letter
of

15

 

Credit Fees, a rate equal to the Applicable Rate for the Revolving Credit Facility for Letter of
Credit Fees plus 2% per annum, in all cases to the fullest extent permitted by applicable Laws.

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

     “Designated Entities” means a collective reference to (a) Wildwood Associates, (b)
Temco Associates or (c) any general partner of a Texas limited partnership which would otherwise be
included in the applicable calculation (so long as in the case of clause (c) the general partner is
not a Borrower Party); provided, that (i) inclusion of Wildwood Associates and Temco Associates as
“Designated Entities” hereunder shall be subject to verification from time to time by the
Administrative Agent that the JV partners with respect to such entities are liable for fifty
percent (50.0%) of the total liabilities of such entities and (ii) inclusion of any Texas limited
partnerships as “Designated Entities” hereunder shall be subject to verification by the
Administrative Agent that neither any Borrower Party nor any other Consolidated Entity (that is not
such Texas limited partnership or its general partner) is liable for any of the liabilities of such
Texas limited partnership.

     “Disposition” or “Dispose” means the sale, transfer or other disposition
(including any sale and leaseback transaction) of any property by any Person, including any sale,
assignment, transfer or other disposal, with or without recourse, of any notes or accounts
receivable or any rights and claims associated therewith, provided that it shall not include any
lease, license or other occupancy agreement.

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

     “Domestic Subsidiary” means any Subsidiary that is organized under the laws of any
political subdivision of the United States.

     “Eligible Assignee” means any assignee permitted pursuant to Section 10.7(b);
provided, that, Eligible Assignee shall not include the Borrower or any of the
Borrower’s Affiliates or Subsidiaries.

     “Environmental Laws” means any and all Federal, state, local, and foreign statutes,
laws, regulations, ordinances, rules, judgments, orders, decrees, permits, concessions, grants,

16

 

franchises, licenses, agreements or governmental restrictions relating to pollution and the
protection of the environment or the release of any materials into the environment, including those
related to hazardous substances or wastes, air emissions and discharges to waste or public systems.

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

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

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

     “ERISA Event” means (a) a Reportable Event with respect to a Pension Plan; (b) a
withdrawal by the Borrower or any ERISA Affiliate from a Pension Plan subject to Section 4063 of
ERISA during a plan year in which it was a substantial employer (as defined in Section 4001(a)(2)
of ERISA) or a cessation of operations that is treated as such a withdrawal under Section 4062(e)
of ERISA; (c) a complete or partial withdrawal by the Borrower or any ERISA Affiliate from a
Multiemployer Plan or notification that a Multiemployer Plan is in reorganization; (d) the filing
of a notice of intent to terminate, the treatment of a Plan amendment as a termination under
Sections 4041 or 4041A of ERISA, or the commencement of proceedings by the PBGC to terminate a
Pension Plan or Multiemployer Plan; (e) an event or condition which constitutes grounds under
Section 4042 of ERISA for the termination of, or the appointment of a trustee to administer, any
Pension Plan or Multiemployer Plan; or (f) the imposition of any liability under Title IV of ERISA,
other than for PBGC premiums due but not delinquent under Section 4007 of ERISA, upon the Borrower
or any ERISA Affiliate.

     “Eurodollar Rate” means for any Interest Period with respect to a Eurodollar Rate
Loan, a rate per annum determined by Agent pursuant to the following formula:

	 	 	 	 
	Eurodollar Rate =

	 	Eurodollar Base Rate	 
	 	1.00 — Eurodollar Reserve Percentage	 

          Where,

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     “Eurodollar Base Rate” means, for such Interest Period (rounded upwards,
as necessary, to the nearest 1/100 of 1%) the rate per annum equal to the British Bankers
Association LIBOR Rate (“BBA LIBOR”), as published by Reuters (or other commercially
available source providing quotations of BBA LIBOR as designated by Agent from time to time)
at approximately 11:00 a.m., London time, two Business Days prior to the commencement of
such Interest Period, for Dollar deposits (for delivery on the first day of such Interest
Period) with a term equivalent to such Interest Period. If such rate is not available at
such time for any reason, then the “Eurodollar Base Rate” for such Interest Period
(rounded upwards, as necessary, to the nearest 1/100 of 1%) shall be the rate per annum
determined by Agent to be the rate at which deposits in Dollars for delivery on the first
day of such Interest Period in same day funds in the approximate amount of the Eurodollar
Rate Loan being made, continued or converted by Bank of America and with a term equivalent
to such Interest Period would be offered by Bank of America’s London Branch (or, if a quote
is not available from Bank of America’s London Branch, then another major bank’s London
branch, as reasonably selected by the Administrative Agent) to major banks in the London
interbank eurodollar market at their request at approximately 11:00 a.m. (London time) two
Business Days prior to the commencement of such Interest Period.

     “Eurodollar Reserve Percentage” means, for any day during any Interest Period,
the reserve percentage (expressed as a decimal, carried out to five decimal places) in
effect on such day, whether or not applicable to any Lender, under regulations issued from
time to time by the Board of Governors of the Federal Reserve System of the United States
for determining the maximum reserve requirement (including any emergency, supplemental or
other marginal reserve requirement) with respect to Eurocurrency funding (currently referred
to as “Eurocurrency liabilities”). The Eurodollar Rate for each outstanding Eurodollar Rate
Loan shall be adjusted automatically as of the effective date of any change in the
Eurodollar Reserve Percentage.

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

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

     “Existing Credit Agreement” has the meaning specified in the second introductory
paragraph hereto.

     “Existing Indebtedness” means (a) that certain Construction Facility Credit Agreement,
dated as of March 7, 2006 among the Borrower, Bank of America, N.A., as administrative agent, and a
syndicate of lenders party thereto, and (b) that certain Credit Agreement dated July 9, 2007 among
the Borrower, Bank of America, N.A., as administrative agent, and a syndicate of lenders party
thereto.

18

 

     “Existing Letters of Credit” means those Letters of Credit described on Schedule
1.1(a) attached hereto.

     “Extended Maturity Date” has the meaning specified in Section 2.14(b).

     “Facility” means the Term Facility or the Revolving Credit Facility, as the context
may require.

     “Federal Funds Rate” means, for any day, the rate per annum (rounded
upward, if necessary, to a whole multiple of 1/100 of 1%) equal to the weighted average of the
rates on overnight Federal funds transactions with members of the Federal Reserve System arranged
by Federal funds brokers on such day, as published by the Federal Reserve Bank of New York on the
Business Day next succeeding such day; provided that (a) if such day is not a Business Day,
the Federal Funds Rate for such day shall be such rate on such transactions on the next preceding
Business Day as so published on the next succeeding Business Day, and (b) if no such rate is so
published on such next succeeding Business Day, the Federal Funds Rate for such day shall be the
average rate charged to Bank of America on such day on such transactions as determined by the
Administrative Agent.

     “Fee Letter” means the letter agreement, dated July 19, 2007, among the Borrower, the
Administrative Agent and the Arranger.

     “Fixed Charges” means, in the aggregate for the Combined Parties and for the
applicable period of calculation, the sum of (a) Interest Expense of the Combined Parties,
plus (b) the principal component of all payments made in respect of Capital Lease
Obligations, plus (c) any payments required to be made (whether or not actually made) in
respect of ground rental obligations under ground leases, plus (d) regularly scheduled
required principal payments on Indebtedness for Money Borrowed (excluding any scheduled balloon,
bullet, or similar principal payment which repays such Indebtedness for Money Borrowed in full)
plus (e) rentals payable under leases of real property during such period to the extent not
covered in clause (b), plus (f) any dividends paid or payable by Borrower or any of its
Consolidated Entities in respect of any class of preferred capital stock; provided, however, that
in calculating Fixed Charges of each Consolidated Entity and Unconsolidated Entity, the amount of
the items described in clauses (a), (b), (c), (d), (e) and (f) above of such Consolidated Entity
shall be reduced by the share allocable to interests held by Persons other than the Borrower or
other Consolidated Entities, and as to such Unconsolidated Entity shall be multiplied by the
percentage of the Borrower’s direct and indirect ownership interest in such Unconsolidated Entity
(except to the extent the Borrower or the applicable Consolidated Entity owner of the capital stock
of the applicable Unconsolidated Entity is liable, whether contractually or otherwise, for a
greater portion of such amount (disregarding any liability with respect to customary recourse
carve-outs applicable to any nonrecourse secured Indebtedness), in which case such higher amount
shall be used in the

19

 

applicable calculations (except with respect to the Designated Entities, for which only the
percentage of the Borrower’s direct or indirect ownership interest shall be used)).

     “Foreign Lender” has the meaning specified in Section 10.15(a)(i).

     “Foreign Subsidiary” means any Subsidiary that is not a Domestic Subsidiary.

     “Fully Satisfied” means, with respect to the Obligations as of any date, that, as of
such date, (a) all principal of and interest accrued to such date which constitute Obligations
shall have been irrevocably paid in full in cash, (b) all fees, expenses and other amounts then due
and payable which constitute Obligations shall have been irrevocably paid in cash, and (c) the
Commitments shall have been expired or terminated in full.

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

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

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

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

     “Guarantee” means, as to any Person, any (a) obligation, contingent or otherwise, of
such Person guaranteeing or having the economic effect of guaranteeing any Indebtedness or other
obligation payable or performable by another Person (the “primary obligor”) in any manner, whether
directly or indirectly, and including any obligation of such Person, direct or indirect, (i) to
purchase or pay (or advance or supply funds for the purchase or payment of) such Indebtedness or
other obligation, (ii) to purchase or lease property, securities or services for the purpose of
assuring the obligee in respect of such Indebtedness or other obligation of the

20

 

payment or performance of such Indebtedness or other obligation, (iii) to maintain working
capital, equity capital or any other financial statement condition or liquidity or level of
income or cash flow of the primary obligor so as to enable the primary obligor to pay such
Indebtedness or other obligation, or (iv) entered into for the purpose of assuring in any other
manner the obligee in respect of such Indebtedness or other obligation of the payment or
performance thereof or to protect such obligee against loss in respect thereof (in whole or in
part), or (b) Lien (other than a Permitted Lien) on any assets of such Person securing any
Indebtedness or other obligation of any other Person, whether or not such Indebtedness or other
obligation is assumed by such Person. Notwithstanding the foregoing, Guarantee shall not include
completion guarantees or the endorsement of instruments. The amount of any Guarantee shall be
deemed to be an amount equal to the stated or determinable amount of the related primary
obligation, or portion thereof, in respect of which such Guarantee is made or, if not stated or
determinable, the maximum reasonably anticipated liability in respect thereof as determined by the
guaranteeing Person in good faith. The term “Guarantee” as a verb has a corresponding meaning.

     “Guarantors” means, collectively, each of those Persons identified as a “Guarantor” on
the signature pages hereto, and each Person that subsequently becomes a Guarantor pursuant to
Section 6.12, and “Guarantor” means any one of them.

     “Guaranty” means the Guaranty made by the Guarantors in favor of the Administrative
Agent and the Lenders pursuant to Article XI hereof.

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

     “Income Producing Assets” means (a) the 191 Peachtree Building and (b) all other real
property assets of the Borrower, any Consolidated Entity or any Unconsolidated Entity (i) which are
partially or fully income producing for financial reporting purposes on the applicable calculation
date and have been continuously partially or fully income producing for financial reporting
purposes for the calendar quarter ending immediately preceding the calculation date, (ii) for which
an unconditional base building certificate of occupancy (or its equivalent) has been issued by the
applicable Governmental Authority, and (iii) as to such assets which in the immediately preceding
reporting period were classified as Non-Income Producing Assets, which either (A) are leased to
tenants in occupancy and/or to parties not yet in occupancy but which have signed leases under
which the only condition to occupancy is completion of the applicable space, and the leases for
such tenants in occupancy or to be in occupancy represent eighty percent (80%) or more of the
rentable square footage of the applicable real property asset; or (B) have been a Non-Income
Producing Asset for a period equal to or in excess of eighteen (18) months following the issuance
of an unconditional base building certificate of occupancy

21

 

(provided, that different phases of real property developments shall be treated as different assets for purposes of this determination);
provided, however, that “Income Producing Assets” shall not include intra or inter-entity obligations between the Borrower and any of the Consolidated
Entities.

     “Indebtedness” means, as to any Person at a particular time, without duplication,
total liabilities of such Person as determined by GAAP, plus all of the following, in each case to
the extent not otherwise included as total liabilities in accordance with GAAP:

     (a) all Indebtedness for Money Borrowed of such Person;

     (b) all obligations under financing leases, all Capital Lease Obligations (including
all capitalized interest under any capital leases), all Synthetic Lease Obligations and all
Off-Balance Sheet Liabilities of such Person;

     (c) all direct or contingent obligations of such Person arising under letters of credit
(including standby and commercial), bankers’ acceptances, bank guaranties, surety bonds and
similar instruments;

     (d) indebtedness (excluding prepaid interest thereon) secured by a Lien on property
owned by such Person (including indebtedness arising under conditional sales or other title
retention agreements), whether or not such indebtedness shall have been assumed by such
Person or is limited in recourse;

     (e) all obligations of such Person to pay the deferred purchase price of property or
services to the extent constituting indebtedness pursuant to GAAP (other than trade accounts
payable in the ordinary course of business) and all obligations under any repurchase,
take-out commitments or forward equity commitments (other than, with respect to the
calculation of the Indebtedness of the Borrower, any Consolidated Entity or any
Unconsolidated Entity, commitments to a Consolidated Entity, an Unconsolidated Entity or an
Investment Entity);

     (f) net obligations of such Person under any Swap Contract;

     (g) all Monetized Guarantees of such Person in respect of any of the foregoing;

however, for purposes of this Agreement, (i) Indebtedness shall not include (A) shareholders’ and
partners’ and members’ equity, (B) capital stock, (C) surplus, (D) reserves for general
contingencies and other cash reserves, (E) minority interests in Consolidated Entities, and (F)
deferred income which in accordance with GAAP would be included in determining total liabilities as
shown on the liability side of a balance sheet of such Person and (ii) Indebtedness, as calculated
for the Borrower or any Loan Party shall not include Indebtedness of Investment Entities, except,
for clarification purposes, to the extent any other Unconsolidated Entity or Consolidated Entity is
liable for the same (disregarding any liability with respect to customary

22

 

recourse carve-outs applicable to any nonrecourse secured Indebtedness and disregarding any general partnership
liability of the Designated Entities).

The amount of any net obligation under any Swap Contract on any date shall be deemed to be the Swap
Termination Value thereof as of such date. The amount of any capital lease obligation or Synthetic
Lease Obligation as of any date shall be deemed to be the amount of Attributable Indebtedness in
respect thereof as of such date.

For purposes of clarification, notwithstanding any language to the contrary contained in the
foregoing, there shall be no double-counting of Indebtedness (for example, in the case of a
guaranty or letter of credit supporting other Indebtedness).

     “Indebtedness for Money Borrowed” means, with respect to any Person, without
duplication (a) all money borrowed by such Person and Indebtedness of such Person represented by
notes payable by such Person and drafts accepted representing extensions of credit to such Person,
(b) all Indebtedness of such Person evidenced by bonds, debentures, notes, or other similar
instruments, (c) all Indebtedness of such Person upon which interest charges are customarily paid,
(d) all Indebtedness of such Person issued or assumed as full or partial payment for property or
services (other than accrued employee compensation), whether or not any such notes, drafts,
obligations or Indebtedness would otherwise represent “Indebtedness for Money Borrowed” and (e) all
capitalized interest under any capital leases and the principal balance outstanding with respect to
any Off-Balance Sheet Liabilities where such transaction is considered borrowed money indebtedness
for tax purposes but is classified as an operating lease in accordance with GAAP. For purposes of
this definition, (i) interest which is accrued but not paid on the original due date or within any
applicable cure or grace period as provided by the underlying contract for such interest shall be
deemed Indebtedness for Money Borrowed and (ii) trade account payables arising in the ordinary
course of business and not delinquent by more than ninety (90) days shall not be deemed
Indebtedness for Money Borrowed. Indebtedness for Money Borrowed with respect to the Borrower, the
Consolidated Entities and/or the Unconsolidated Entities shall not include any obligations of
Investment Entities except, for clarification purposes, to the extent any other Unconsolidated
Entity or Consolidated Entity is liable for the same (disregarding any liability with respect to
customary recourse carve-outs applicable to any nonrecourse secured Indebtedness and disregarding
any general partnership liability of the Designated Entities).

     “Indemnified Liabilities” has the meaning specified in Section 10.05.

     “Indemnitees” has the meaning specified in Section 10.05.

     “Initial Maturity Date” has the meaning specified in Section 2.14(a)(ii).

23

 

     “Interest Capitalized” means, in respect of any period, interest capitalized by the
Borrower and its Consolidated Entities in such period calculated in accordance with GAAP plus to
the extent not already included herein the Borrower’s pro rata share of the interest capitalized of
its Unconsolidated Entities.

     “Interest Expense” means, in respect of any period, an amount equal to the sum of (a)
the interest payable during such period with respect to Indebtedness for Money Borrowed of the
Borrower and its Consolidated Entities (and, when specified in the applicable covenant, a pro rata
share of the interest payable for the Unconsolidated Entities), and (b) the interest component of
capitalized lease obligations of the Borrower and the Consolidated Entities, less any
Interest Capitalized.

     “Interest Expense for Unsecured Debt” means for any period, Interest Expense with
respect to Unsecured Debt of the Borrower and the Consolidated Entities.

     “Interest Payment Date” means, (a) as to any Loan other than a Base Rate Loan, the
last day of each Interest Period applicable to such Loan and the Maturity Date of the Facility
under which such Loan was made; provided, however, that if any Interest Period for
a Eurodollar Rate Loan exceeds three months, the respective dates that fall every three months
after the beginning of such Interest Period shall also be Interest Payment Dates; and (b) as to any
Base Rate Loan (including a Swing Line Loan), the fifth (5th) day of each calendar month
and the Maturity Date of the Facility under which such Loan was made.

     “Interest Period” means, as to each Eurodollar Rate Loan, the period commencing on the
date such Eurodollar Rate Loan is disbursed or converted to or continued as a Eurodollar Rate Loan
and ending on the date one, two, three or six months thereafter, as selected by the Borrower (on
its behalf or on behalf of a Co-Borrower) in a Loan Notice; provided that:

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

     (b) any Interest Period that begins on the last Business Day of a calendar month (or on
a day for which there is no numerically corresponding day in the calendar month at the end
of such Interest Period) shall end on the last Business Day of the calendar month at the end
of such Interest Period;

     (c) no Interest Period shall extend beyond the Maturity Date of the Facility under
which such Loan was made; and

     (d) the Borrower may (on its own behalf or on behalf of any Co-Borrower), in addition
to the periods set forth above, request and receive an Interest Period for a

24

 

Eurodollar Rate Loan shorter than one (1) month if and to the extent that the Administrative Agent has
pre-approved such shorter period (such approval to be withheld in the absolute and sole
discretion of the Administrative Agent) and no Lender objects to the use of such shorter
period prior to the establishment thereof (such objections to be raised in the absolute and
sole discretion of the respective Lenders).

     “Investment” means, as to any Person, any direct or indirect acquisition or investment
by such Person, whether by means of (a) the purchase or other acquisition of capital stock or other
securities of another Person, (b) a loan, advance or capital contribution to, Guarantee or
assumption of debt of, or purchase or other acquisition of any other debt or equity participation
or interest in, another Person, including any partnership or joint venture interest in such other
Person, or (c) the purchase or other acquisition (in one transaction or a series of transactions)
of assets of another Person that constitute a business unit. For purposes of covenant compliance,
the amount of any Investment shall be the amount actually invested, without adjustment for
subsequent increases or decreases in the value of such Investment.

     “Investment Entities” means, as of any date of determination, those Persons in which
the Borrower, any of the Consolidated Entities or any of the Unconsolidated Entities directly or
indirectly owns any Capital Stock which satisfy each of the following criteria: (a) such Person is
an unconsolidated entity with respect to the Borrower for financial reporting purposes or is an
entity that is consolidated with the Borrower as a result of the pronouncement entitled Financial
Interpretation 46 “Consolidation of Variable Interest Entities” by the Financial Accounting
Standards Board on January 17, 2003 as revised from time to time, (b) a party other than Borrower,
a Consolidated Entity or an Unconsolidated Entity has primary control over day-to-day management of
such Person (responsibilities under management agreements shall not constitute control), and (c)
none of the Borrower, any Consolidated Entity or any Unconsolidated Entity is directly or
contingently liable for indebtedness of such Person, except for standard and customary recourse
carve-outs commonly included in non-recourse financings in the form of guarantees or indemnities.
For a list of the entities which are Investment Entities of the Borrower as of the Closing Date,
see Schedule 1.1(b) attached hereto.

     “IP Rights” has the meaning specified in Section 5.17.

     “IRS” means the United States Internal Revenue Service.

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

     “Issuer Documents” means with respect to any Letter of Credit, the Letter Credit
Application, and any other document, agreement and instrument entered into by the L/C Issuer

25

 

and the Borrower (or any Consolidated Entity) or in favor of the L/C Issuer and relating to any such
Letter of Credit.

     “Joinder Agreement” means a Joinder Agreement substantially in the form of Exhibit G hereto, executed and delivered by a new Guarantor in accordance with the provisions of
Section 6.12.

     “Land and Condominium Assets” means Non-Income Producing Assets that consist primarily
of undeveloped land and residential condominium assets.

     “Laws” means, collectively, all international, foreign, Federal, state and local
statutes, treaties, rules, guidelines, regulations, ordinances, codes and administrative or
judicial precedents or authorities, including the interpretation or administration thereof by any
Governmental Authority charged with the enforcement, interpretation or administration thereof, and
all applicable administrative orders, directed duties, requests, licenses, authorizations and
permits of, and agreements with, any Governmental Authority, in each case to the extent from time
to time in full force and effect or otherwise having the force of law.

     “L/C Advance” means, with respect to each Revolving Credit Lender, such Revolving
Credit Lender’s funding of its participation in any L/C Borrowing in accordance with its Pro Rata
Share.

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

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

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

     “L/C Obligations” means, as at any date of determination, the aggregate undrawn amount
of all outstanding Letters of Credit plus the aggregate of all Unreimbursed Amounts,
including all L/C Borrowings. For purposes of computing the amount available to be drawn under any
Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with
Section 1.07. For all purposes of this Agreement, if on any date of determination a Letter
of Credit has expired by its terms but any amount may still be drawn thereunder by reason of the

26

 

operation of Rule 3.14 of the ISP, such Letter of Credit shall be deemed to be “outstanding” in the
amount so remaining available to be drawn.

     “Lender” has the meaning specified in the introductory paragraph hereto and, as the
context requires, includes the L/C Issuer, the Swing Line Lender, each Revolving Credit Lender and
each Term Lender.

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

     “Letter of Credit” means any letter of credit issued hereunder and shall include the
Existing Letters of Credit. For purposes of this Agreement, a Letter of Credit may be a standby
letter of credit only and may not be a commercial letter of credit.

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

     “Letter of Credit Cash Collateral Date” means the day that is ten (10) days prior to
the Maturity Date then in effect for the Revolving Credit Facility (or, if such day is not a
Business Day, the preceding Business Day).

     “Letter of Credit Fee” has the meaning specified in Section 2.03(i).

     “Letter of Credit Expiration Date” means the day that is one year after the Maturity
Date then in effect for the Revolving Credit Facility (or, if such day is not a Business Day, the
preceding Business Day).

     “Letter of Credit Sublimit” means, for any date of determination, an amount equal to
fifty percent (50.0%) multiplied by the amount of the Aggregate Revolving Credit Commitments in
existence as of such date. The Letter of Credit Sublimit is part of, and not in addition to, the
Aggregate Revolving Credit Commitments.

     “Lien” means any mortgage, pledge, hypothecation, assignment, deposit arrangement,
encumbrance, lien (statutory or other), charge, or preference, priority or other security interest
or preferential arrangement in the nature of a security interest of any kind or nature whatsoever
(including any conditional sale or other title retention agreement, and any financing lease having
substantially the same economic effect as any of the foregoing).

27

 

     “Liquid Assets” means, as of any date of determination, the following assets of the
Combined Parties: (a) unrestricted cash and marketable securities; and (b) notes receivable
(related to loans that are not in default and otherwise fully performing as of such date) secured
by a mortgage instrument with a valid and enforceable first priority mortgage lien on a fee or
leasehold interest held by the debtor in the applicable real estate assets, where the fair market
value of such real estate assets is greater than 110% of the amount of Indebtedness secured
thereby.

     “Loan” means an extension of credit by a Lender to the Borrower or any Co-Borrower
under Article II in the form of a Revolving Credit Loan, a Swing Line Loan or a Term Loan.

     “Loan Documents” means this Agreement, each Note, each Issuer Document, each Joinder
Agreement, each Co-Borrower Joinder Agreement and the Fee Letter.

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

     “Loan Parties” means, as of any date of determination, a collective reference to the
Borrower, each Co-Borrower and each Guarantor existing as of such date.

     “Material Adverse Effect” means (a) a material adverse effect upon, the results of
operations, business, properties, financial condition or business prospects of the Combined Parties
taken as a whole; (b) a material impairment of the ability of the Loan Parties taken as a whole to
perform their obligations under any Loan Document to which it is a party; or (c) a material adverse
effect upon the legality, validity, binding effect or enforceability against any Loan Party of any
Loan Document to which it is a party.

     “Maturity Date” means (a) with respect to the Revolving Credit Facility, the later to
occur of (i) the Initial Maturity Date; and (ii) to the extent maturity is extended pursuant to
Section 2.14, the Extended Maturity Date, and (b) with respect to the Term Facility, August
29, 2012; provided, that, in each case, if such date is not a Business Day, then
the Maturity Date shall be the preceding Business Day.

     “Measurement Period” means, at any date of determination, the most recently completed
four calendar quarters of the Borrower.

     “Monetized Guarantee” means any Guarantee which (a) is a Guarantee of Indebtedness for
Money Borrowed; (b) is a Guarantee that has been reduced to judgment or otherwise liquidated for a
specified monetary amount; or (c) is a Guarantee of performance of any

28

 

obligation which obligation is past due beyond any applicable grace or cure period and the liability under which can be
reasonably quantified in terms of the monetary liability of the applicable obligor.

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

     “Non-Income Producing Asset” means any real property asset of the Borrower, any
Consolidated Entity, or any Unconsolidated Entity which does not qualify as an “Income Producing
Asset” (following application of subsection (b)(iii)(B) and each other provision of the definition
thereof).

     “Note” means each Term Note and each Revolving Credit Note, or any of them.

     “Obligations” means all advances to, and debts, liabilities, obligations, covenants
and duties of, any Loan Party arising under any Loan Document or otherwise with respect to any Loan
or Letter of Credit, whether direct or indirect (including those acquired by assumption), absolute
or contingent, due or to become due, now existing or hereafter arising and including (a) interest
and fees that accrue under the Loan Documents after the commencement by or against any Loan Party
or any Affiliate thereof of any proceeding under any Debtor Relief Laws naming such Person as the
debtor in such proceeding, regardless of whether such interest and fees are allowed claims in such
proceeding and (b) any Swap Contract entered into in connection with the Loans by any Loan Party
with respect to which a Lender or any Affiliate of such Lender is a party.

     “Off-Balance Sheet Liabilities” means, with respect to any Person as of any date of
determination thereof, without duplication and to the extent not included as a liability on the
consolidated balance sheet of such Person and its consolidated Subsidiaries in accordance with
GAAP: (a) with respect to any asset securitization transaction (including any accounts receivable
purchase facility) (i) the unrecovered investment of purchasers or transferees of assets so
transferred and (ii) any other payment, recourse, repurchase, hold harmless, indemnity or similar
obligation of such Person or any of its Subsidiaries in respect of assets transferred or payments
made in respect thereof, other than limited recourse provisions that are customary for transactions
of such type and that neither (x) have the effect of limiting the loss or credit risk of such
purchasers or transferees with respect to payment or performance by the obligors of the assets so
transferred nor (y) impair the characterization of the transaction as a true sale under applicable
Laws (including Debtor Relief Laws); (b) the monetary obligations under any financing lease or
so-called “synthetic,” tax retention or off-balance sheet lease transaction which, upon the
application of any Debtor Relief Law to such Person or any of its Subsidiaries, would be
characterized as indebtedness; or (c) the monetary obligations under any sale and

29

 

leaseback transaction which does not create a liability on the consolidated balance sheet of such Person and
its Subsidiaries; or (d) any other monetary obligation arising with respect to any other
transaction which is the functional equivalent of or takes the place of borrowing but which does
not constitute a liability on the consolidated balance sheet of such Person and its Subsidiaries
(for purposes of this clause (d), any transaction structured to provide tax deductibility as
interest expense of any dividend, coupon or other periodic payment will be deemed to be the
functional equivalent of a borrowing).

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

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

     “Participant” has the meaning specified in Section 10.07(d).

     “PBGC” means the Pension Benefit Guaranty Corporation.

     “Pension Plan” means any “employee pension benefit plan” (as such term is defined in
Section 3(2) of ERISA), other than a Multiemployer Plan, that is subject to Title IV of ERISA and
is sponsored or maintained by the Borrower or any ERISA Affiliate or to which the Borrower or any
ERISA Affiliate contributes or has an obligation to contribute, or in the case of a multiple
employer or other plan described in Section 4064(a) of ERISA, has made contributions at any time
during the immediately preceding five plan years.

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     “Permitted Liens” means, at any time, Liens in respect of property of the Borrower,
Consolidated Entities and/or Unconsolidated Entities constituting:

     (a) Liens existing pursuant to any Loan Document;

     (b) Liens (other than Liens imposed under ERISA) for taxes, assessments (including
private assessments and charges) or governmental charges or levies not yet due or which are
being contested in good faith and by appropriate proceedings diligently conducted, if
adequate reserves with respect thereto are maintained on the books of the applicable Person
in accordance with GAAP, or which have been insured over without qualification, condition or
assumption by title insurance or otherwise in a manner acceptable to Agent in its sole
discretion;

     (c) statutory Liens of landlords and Liens of carriers, warehousemen, mechanics,
materialmen and suppliers and other Liens imposed by law or pursuant to customary
reservations or retentions of title arising in the ordinary course of business,
provided that such Liens secure only amounts not yet due and payable or, if due and
payable, no action has been taken to enforce the same (other than filing of a Lien) and
which are being contested in good faith by appropriate proceedings for which adequate
reserves determined in accordance with GAAP have been established or which have been bonded;

     (d) zoning restrictions, easements, rights-of-way, restrictions and other encumbrances
affecting real property which, in the aggregate, do not in any case materially detract from
the value of the property subject thereto or materially interfere with the ordinary conduct
of the business of the applicable Person;

     (e) leases or subleases to third parties (including any Affiliates of Borrower or any
Combined Party);

     (f) Liens securing judgments for the payment of money not constituting an Event of
Default hereunder or securing appeal or other surety bonds related to such judgments;

     (g) any interest of title of a lessor under, and Liens arising from UCC financing
statements (or equivalent filings, registrations or agreements in foreign jurisdictions)
relating to, leases permitted by this Agreement; and

     (h) Liens incurred in the ordinary course of business in connection with workers
compensation, unemployment insurance or other social security obligations.

     “Person” means any natural person, corporation, limited liability company, trust,
joint venture, association, company, partnership, Governmental Authority or other entity.

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     “Plan” means any “employee benefit plan” (as such term is defined in Section 3(3) of
ERISA) established by the Borrower or, with respect to any such plan that is subject to Section 412
of the Code or Title IV of ERISA, any ERISA Affiliate.

     “Platform” has the meaning specified in Section 6.02.

     “Pro Rata Share” means, (a) in respect of the Term Facility, with respect to any Term
Lender at any time, the percentage (carried out to the ninth decimal place) of the aggregate Term
Facility represented by (i) on or prior to the Closing Date, such Term Lender’s Term Commitment at
such time, over the aggregate Term Commitments of all Term Lenders at such time, and (ii)
thereafter, the principal amount of such Term Lender’s Term Loans at such time, over the aggregate
principal amount of all Term Loans at such time, and (b) in respect of the Revolving Credit
Facility, with respect to any Revolving Credit Lender at any time, a fraction (expressed as a percentage, carried out to the ninth decimal place), the numerator of which is
the amount of the Revolving Credit Commitment of such Lender at such time and the denominator of
which is the amount of the Revolving Credit Commitments of all Revolving Credit Lenders at such
time; provided that if the Revolving Credit Commitment of each Revolving Credit Lender to
make Revolving Credit Loans and the obligation of the L/C Issuer to make L/C Credit Extensions have
been terminated pursuant to Section 8.02, then the Pro Rata Share of each Revolving Credit
Lender shall be determined based on the Pro Rata Share of such Revolving Credit Lender immediately
prior to such termination and after giving effect to any subsequent assignments made pursuant to
the terms hereof. The initial Pro Rata Share of each Lender is set forth opposite the name of such
Lender on Schedules 2.01(a) and (b), as applicable, or in the Assignment and Assumption
pursuant to which such Lender becomes a party hereto, as applicable.

     “Register” has the meaning specified in Section 10.07(c).

     “REIT” means a Person qualifying for treatment as a “real estate investment trust”
under the Code.

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

     “Request for Credit Extension” means (a) with respect to a Borrowing, conversion or
continuation of Term Loans or Revolving Credit Loans, a Term Loan Notice or a Revolving Credit Loan
Notice, as the case may be, (b) with respect to an L/C Credit Extension, a Letter of Credit
Application, and (c) with respect to a Swing Line Loan, a Swing Line Loan Notice.

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     “Required Lenders” means, as of any date of determination, Lenders holding more than
50% of the sum of (a) the Total Outstandings (with the aggregate amount of each Revolving Credit
Lender’s risk participation and funded participation in L/C Obligations and Swing Line Loans being
deemed “held” by such Revolving Credit Lender for purposes of this definition) and (b) the
aggregate unused Revolving Credit Commitments; provided that the unused Revolving Credit
Commitment of, and the portion of the Total Outstandings held or deemed held by, any Defaulting
Lender shall be excluded for purposes of making a determination of Required Lenders.

     “Required Revolving Credit Lenders” means, as of any date of determination, Revolving
Credit Lenders holding more than 50% of the sum of the (a) Total Revolving Credit Outstandings
(with the aggregate amount of each Revolving Credit Lender’s risk participation and funded
participation in L/C Obligations and Swing Line Loans being deemed “held” by such Revolving Credit
Lender for purposes of this definition) and (b) the aggregate unused Revolving Credit Commitments;
provided that the unused Revolving Credit Commitment of, and the portion of the Total
Revolving Credit Outstandings held or deemed held by, any Defaulting Lender shall be excluded for purposes of making a determination of Required Revolving Credit
Lenders.

     “Required Term Lenders” means, as of any date of determination, Term Lenders holding
more than 50% of the Term Facility on such date; provided, that, the portion of the
Term Facility held by any Defaulting Lender shall be excluded for purposes of making a
determination of Required Term Lenders.

     “Responsible Officer” means the chief executive officer, any vice chairman, president,
chief financial officer, chief investment officer, chief administrative officer, general counsel
or, solely with respect to the ability to request advances of Loans, L/C Credit Extensions and
continuations and conversions of Loans and to sign Compliance Certificates, any other Person who is
authorized in writing by any of the foregoing to make such requests. Any document delivered
hereunder that is signed by a Responsible Officer of a Loan Party shall be conclusively presumed to
have been authorized by all necessary corporate, partnership and/or other action on the part of
such Loan Party and such Responsible Officer shall be conclusively presumed to have acted on behalf
of such Loan Party.

     “Restricted Payment” means any cash dividend or other distribution with respect to any
Capital Stock (including preferred stock) or other equity interest of the Borrower or any
Consolidated Entity, or any payment, including any sinking fund or similar deposit, on account of
the purchase, redemption, retirement, acquisition, cancellation or termination of any such Capital
Stock or other equity interest, other than any distribution or other payment solely in Capital
Stock of such Person.

     “Restricted Purchase” means any payment on account of the purchase, redemption, or
other acquisition or retirement of any Capital Stock (including preferred equity) of the Borrower.

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     “Revolving Credit Borrowing” means a borrowing consisting of simultaneous Revolving
Credit Loans of the same Type and, in the case of Eurodollar Rate Loans, having the same Interest
Period made by each of the Revolving Credit Lenders pursuant to Section 2.01(a).

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

     “Revolving Credit Facility” means, at any time, the aggregate amount of the Revolving
Credit Lenders’ Revolving Credit Commitments at such time.

     “Revolving Credit Lender” means, at any time, (a) so long as the Revolving Credit
Commitments are outstanding, any Lender that has a Revolving Credit Commitment at such time or (b)
if the Revolving Credit Commitments have been terminated or expired, hold a Revolving Credit Loan
or a participation in L/C Obligations or Swing Line Loans at such time.

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

     “Revolving Credit Loan Notice” means a notice of (a) a Revolving Credit Borrowing, (b)
a conversion of Revolving Credit Loans from one Type to the other, or (c) a continuation of
Eurodollar Rate Loans made under the Revolving Credit Facility, pursuant to Section
2.02(a), which, if in writing, shall be substantially in the form of Exhibit A.

     “Revolving Credit Note” means a promissory note made by the Borrower or any
Co-Borrowers in favor of a Revolving Credit Lender evidencing Revolving Credit Loans or Swing Line
Loans, as the case may be, made by such Revolving Credit Lender, substantially in the form of
Exhibit D-1, together with each Co-Borrower Joinder Agreement executed by any Co-Borrower,
to the extent the same has not been terminated pursuant to Section 6.12 hereof.

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

     “Secured Debt” means, for any given calculation date, the total aggregate principal
amount of Indebtedness for Money Borrowed of the Borrower and the Consolidated Entities, on a
consolidated basis (and without duplication on account of the guaranty obligations of the Borrower
or any Consolidated Entity relating to the Indebtedness for Money Borrowed of another Consolidated
Entity), that is secured in any manner by any Lien; provided, that obligations in respect of
Capitalized Leases shall not be deemed to be Secured Debt. For clarification purposes, (i) any
unsecured guaranty given by the Borrower or any Consolidated

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Entity of secured obligations of a Person who is not a Consolidated Entity does not constitute Secured Debt of the Person giving the
guaranty, (ii) any unsecured guaranty given by the Borrower or any Consolidated Entity of the
Secured Debt of another Consolidated Entity constitutes the Secured Debt of the Person directly
incurring the Secured Debt and shall not be calculated as part of the obligations of the Person
giving the guaranty, (iii) any unsecured guaranty given by the Borrower or any Consolidated Entity
of the unsecured obligations of a Person who is not a Consolidated Entity does not constitute
Secured Debt of the Person giving the guaranty, (iv) any unsecured guaranty given by the Borrower
or any Consolidated Entity of the unsecured obligations of another Consolidated Entity does not
constitute the Secured Debt of the Person directly incurring such obligations and shall not be
calculated as part of the obligations (secured or otherwise) of the Person giving the guaranty, (v)
any secured guaranty given by the Borrower or any Consolidated Entity of secured obligations of a
Person who is not a Consolidated Entity constitutes Secured Debt of such Person giving the
guaranty, (vi) any secured guaranty given by the Borrower or any Consolidated Entity of the secured
obligations of another Consolidated Entity constitutes the Secured Debt of the Person directly
incurring the secured obligations and shall not be calculated as part of the obligations (secured
or otherwise) of the Person giving the guaranty, (vii) any secured guaranty given by the Borrower or any
Consolidated Entity of the unsecured obligations of a Person who is not a Consolidated Entity
constitutes the Secured Debt of the Person giving the guaranty, and (viii) any secured guaranty
given by the Borrower or any Consolidated Entity of the unsecured obligations of any Consolidated
Entity constitutes the Secured Debt of the Person giving the guaranty and shall not be calculated
as part of the obligations (secured or otherwise) of the Person directly incurring such
obligations.

     “Shareholders’ Equity” means, as of any date of determination, consolidated
shareholders’ equity of the Borrower and its Consolidated Entities as of that date determined in
accordance with GAAP.

     “Subsidiary” of a Person means a corporation, partnership, joint venture, limited
liability company or other business entity of which a majority of the shares of securities or other
interests having ordinary voting power for the election of directors or other governing body (other
than securities or interests having such power only by reason of the happening of a contingency)
are at the time beneficially owned, or the management of which is otherwise controlled, directly,
or indirectly through one or more intermediaries, or both, by such Person. Unless otherwise
specified, all references herein to a “Subsidiary” or to “Subsidiaries” shall refer to a Subsidiary
or Subsidiaries of the Borrower.

     “Swap Contract” means (a) any and all rate swap transactions, basis swaps, credit
derivative transactions, forward rate transactions, commodity swaps, commodity options, forward
commodity contracts, equity or equity index swaps or options, bond or bond price or bond index
swaps or options or forward bond or forward bond price or forward bond index transactions, interest
rate options, forward foreign exchange transactions, cap transactions, floor transactions, collar
transactions, currency swap transactions, cross-currency rate swap

35

 

transactions, currency options, spot contracts, or any other similar transactions or any combination of any of the foregoing
(including any options to enter into any of the foregoing), whether or not any such transaction is
governed by or subject to any master agreement relating to the foregoing, and (b) any and all
transactions of any kind, and the related confirmations, which are subject to the terms and
conditions of, or governed by, any form of master agreement published by the International Swaps
and Derivatives Association, Inc., any International Foreign Exchange Master Agreement, or any
other master agreement related to any of the foregoing (any such master agreement, together with
any related schedules, a “Master Agreement”), including any such obligations or liabilities
under any Master Agreement.

     “Swap Termination Value” means, in respect of any one or more Swap Contracts, after
taking into account the effect of any legally enforceable netting agreement relating to such Swap
Contracts, (a) for any date on or after the date such Swap Contracts have been closed out and
termination value(s) determined in accordance therewith, such termination value(s), and (b) for any
date prior to the date referenced in clause (a), the amount(s) determined as the mark-to-market
value(s) for such Swap Contracts, as determined based upon one or more mid-market or other readily available quotations provided by any recognized dealer in such Swap Contracts
(which may include a Lender or any Affiliate of a Lender).

     “Swing Line” means the revolving credit facility made available by the Swing Line
Lender pursuant to Section 2.04.

     “Swing Line Borrowing” means a borrowing of a Swing Line Loan pursuant to Section
2.04.

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

     “Swing Line Loan” has the meaning specified in Section 2.04(a).

     “Swing Line Loan Notice” means a notice of a Swing Line Borrowing pursuant to
Section 2.04(b), which, if in writing, shall be substantially in the form of Exhibit
C.

     “Swing Line Sublimit” means an amount equal to (a) $50,000,000, less (b) a percentage
equal to the percentage reduction in the Revolving Credit Commitments below a level of
$500,000,000. The Swing Line Sublimit is part of, and not in addition to, the Aggregate Revolving
Credit Commitments.

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     “Synthetic Lease Obligation” means the monetary obligation of a Person under (a) a
so-called synthetic, off-balance sheet or tax retention lease, or (b) an agreement for the use or
possession of property creating obligations that do not appear on the balance sheet of such Person
where such transaction is considered borrowed money indebtedness for tax purposes but is classified
as an operating lease in accordance with GAAP.

     “Tax Driven Lease Transaction” means (i) the DAFC Transactions and (ii) any
transaction pursuant to which a Combined Entity conveys record title to a real property asset to a
governmental entity and then leases such asset back from the governmental entity for the purposes
of effecting a reduction in real property taxes where (i) the conveying Combined Entity can
repurchase the conveyed asset at any time for nominal consideration, (ii) no Indebtedness is
incurred by any Combined Entity under GAAP; provided, that, if the structure of any
such transaction requires the issuance of bonds by the applicable governmental entity, such bonds
are purchased by a Combined Entity as consideration for the applicable real property transfer and
the amounts receivable by a Combined Entity on such bonds equals the rent payable under the
applicable Lease, (iii) no net payments are required to be made to any third party as a result of
such transaction and the corresponding Tax Driven Lease Transaction Documents (other than the reduced real property taxes and customary closing costs and fees), and (iv) such transaction,
however structured, is consummated on terms substantially similar to the DAFC Transactions.

     “Tax Driven Lease Transaction Documents” means (i) the DAFC Indentures and DAFC Leases
and (ii) with respect to any Tax Driven Lease Transaction other than the DAFC Transactions, leases,
indentures and such other documents that are customarily required for a transaction of that type
and that satisfy the requirements of the definition of Tax Driven Lease Transaction.

     “Term Borrowing” means a borrowing consisting of simultaneous Term Loans of the same
Type and, in the case of Eurodollar Rate Loans, having the same Interest Period made by each of the
Term Lenders pursuant to Section 2.01(b).

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

     “Term Facility” means, at any time, (a) on or prior to the Closing Date, the aggregate
amount of the Term Commitments of all Term Lenders at such time and (b) thereafter, the aggregate
principal amount of the Term Loans of all Term Lenders outstanding at such time.

     “Term Lender” means (a) at any time on or prior to the Closing Date, any Lender that
has a Term Commitment at such time and (b) at any time after the Closing Date, any Lender that
holds Term Loans at such time.

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

     “Term Loan Notice” means a notice of (a) a Term Borrowing, (b) a conversion of Term
Loans from one Type to the other, or (c) a continuation of Eurodollar Rate Loans made under the
Term Loan Facility, pursuant to Section 2.02(a), which, if in writing, shall be substantially in
the form of Exhibit B.

     “Term Note” means a promissory note made by the Borrower or any Co-Borrower in favor
of a Term Lender evidencing Term Loans made by such Term Lender, substantially in the form of
Exhibit D-2, together with each Co-Borrower Joinder Agreement executed by any Co-Borrower,
to the extent the same has not been terminated pursuant to Section 6.12 hereof.

     “Terminus Project” means the project commonly known as “Terminus 100” located at 3280
Peachtree Road in Atlanta, Georgia; provided, however, the Terminus Project does
not include the other land at 3280 Peachtree Street and adjacent thereto owned by the Borrower or
its Consolidated Entities, the air rights above the parking structure which may be used for future
development, or the parking within the parking structure being developed which will serve such
potential future development above the parking structure.

     “Threshold Amount” means $10,000,000.

     “Total Assets” means, as of any calculation date, the sum of (a) the Value of Income
Producing Assets for all such assets of the Combined Parties, plus (b) the Value of Liquid
Assets of the Combined Parties, plus (c) the Value of Non-Income Producing Assets of the
Combined Parties, that are not Land and Condominium Assets, plus (d) the Value of Non-Income
Producing Assets of the Combined Parties that are Land and Condominium Assets; provided, however,
that in calculating Total Assets the sum of items (c) and (d) shall be reduced to the extent
necessary (with a corresponding reduction in the sum of items (a), (b), (c) and (d)) to establish
that the sum of items (c) and (d) shall not exceed fifty percent (50%) of the sums of items (a),
(b), (c) and (d); provided, further, that in calculating Total Assets, item (d) shall be
reduced to the extent necessary (with a corresponding reduction in the sum of items (a), (b), (c)
and (d), to establish that item (d) shall not exceed twenty-five percent (25%) of the sum of items
(a), (b), (c) and (d).

     “Total Debt” means, as of any calculation date, for the Combined Parties (reduced to
the extent necessary to reflect the portion thereof not attributable to Borrower’s direct and
indirect ownership interest), the sum of (without duplication): (a) all outstanding Indebtedness
for Money Borrowed; (b) all Capital Lease Obligations, and (c) all obligations constituting
Monetized Guarantees of such Persons; provided, however, that in calculating the
Total Debt of each Consolidated Entity and Unconsolidated Entity, the amount of the items described
in clauses (a), (b) and (c) above of such Consolidated Entity and Unconsolidated Entity shall be
multiplied by the percentage of the Borrower’s direct and indirect ownership interest in such
Consolidated Entity and Unconsolidated Entity. Total Debt shall not include any such obligation of

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Investment Entities except, for clarification purposes, to the extent any Consolidated Entity is
liable for the same (disregarding any Consolidated Entity’s liability with respect to
customary recourse carve-outs applicable to any nonrecourse secured Indebtedness) and disregarding
any general partnership liability of the Designated Entities.

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

     “Total Revolving Credit Outstanding” means the aggregate Outstanding Amount of all
Revolving Credit Loans and all L/C Obligations.

     “Trust Preferred Securities” means trust preferred securities issued by a Trust
Preferred Securities Issuer, the proceeds of which will be used to make loans to the Borrower or a
Consolidated Entity.

     “Trust Preferred Securities Issuer” means a special purpose entity of which the
Borrower or any Consolidated Entity owns 100% of the common interests, which special purpose entity
is established for the purpose of issuing such trust preferred securities and using the proceeds of
such issuance to make loans to the Borrower or a Consolidated Entity.

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

     “Unconsolidated Entities” means, as of any date of determination, those Persons in
which the Borrower or any of the Consolidated Entities owns some portion of Capital Stock and which
are not consolidated with the Borrower on the financial statements of the Borrower in accordance
with GAAP. Unconsolidated Entities shall not include Investment Entities.

     “Unencumbered Properties” means (i) all real property assets owned by the Borrower or
the Consolidated Entities that are not subject to any Liens other than Permitted Liens and are
located in the United States of America and (ii) the 191 Peachtree Building, the Terminus Project
and any other asset that is the subject of a Tax Driven Lease Transaction, for so long as such
properties are subject to Tax Driven Lease Transaction Documents and are not subject to any Liens
other than Permitted Liens.

     “Unfunded Pension Liability” means the excess of a Pension Plan’s benefit liabilities
under Section 4001(a)(16) of ERISA, over the current value of that Pension Plan’s assets,
determined in accordance with the assumptions used for funding the Pension Plan pursuant to Section
412 of the Code for the applicable plan year.

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

     “Unreimbursed Amount” has the meaning specified in Section 2.03(c)(i).

     “Unsecured Debt” means, as of any date, the aggregate of all Indebtedness for Money
Borrowed of the Borrower and the Consolidated Entities that was incurred, and continues to be
outstanding, without granting a Lien (other than Permitted Liens not described in clauses (a) or
(f) of such definition) as security for such Indebtedness for Money Borrowed. Unsecured Debt shall
not include any such obligations of Unconsolidated Entities or Investment Entities except, for
clarification purposes, to the extent any Consolidated Entity is liable for the same (disregarding
any liability with respect to customary recourse carve-outs applicable to any nonrecourse secured
obligations and disregarding any general partnership liability of the Designated Entities). For
clarification purposes, (a) any unsecured guaranty given by the Borrower or any Consolidated Entity
of secured obligations of a Person who is not the Borrower or a Consolidated Entity constitutes
Unsecured Debt of the Borrower or such Consolidated Entity giving the guaranty, (b) any unsecured
guaranty given by the Borrower or any Consolidated Entity of the secured obligations of the
Borrower or another Consolidated Entity constitutes the Secured Debt of the Borrower or the
Consolidated Entity directly incurring the secured obligations and shall not be calculated as part
of the obligations (either secured or unsecured) of the Borrower or such Consolidated Entity giving
the guaranty (except to the extent that the relevant calculation does not otherwise account for the
obligations of the Borrower or the Consolidated Entity directly incurring the underlying secured
obligations, in which case it shall constitute the Unsecured Debt of the Borrower or the
Consolidated Entity giving the guaranty), (c) any unsecured guaranty given by the Borrower or any
Consolidated Entity of the unsecured obligations of a Person who is not the Borrower or a
Consolidated Entity constitutes the Unsecured Debt of the Borrower or such Consolidated Entity
giving the guaranty, (d) any unsecured guaranty given by the Borrower or any Consolidated Entity of
the unsecured obligations of the Borrower or another Consolidated Entity constitutes the Unsecured
Debt of the Borrower or the Consolidated Entity directly incurring such obligations and shall not
be calculated as part of the obligations (either secured or unsecured) of the Borrower or such
Consolidated Entity giving the guaranty (except to the extent that the relevant calculation does
not otherwise account for the obligations of the Borrower or the Consolidated Entity directly
incurring the underlying unsecured obligations, in which case it shall constitute the Unsecured
Debt of the Borrower or the Consolidated Entity giving the guaranty), (e) any secured guaranty
given by the Borrower or any Consolidated Entity of secured obligations of a Person who is not the
Borrower or a Consolidated Entity constitutes secured debt of the Borrower or such Consolidated
Entity giving the guaranty, (f) any secured guaranty given by the Borrower or any Consolidated
Entity of the secured obligations of the Borrower or another Consolidated Entity constitutes the
secured debt of the Borrower or the Consolidated Entity directly incurring the secured obligations
and shall not be calculated as part of the obligations (either secured or unsecured) of the
Borrower or such Consolidated Entity giving the guaranty (except to the extent that the relevant
calculation does not otherwise account for the obligations of the Borrower or the Consolidated
Entity directly incurring the underlying secured obligations, in which case it shall constitute the
secured debt of the Borrower or the Consolidated Entity giving the guaranty), (g)

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any secured guaranty given by the Borrower or any Consolidated Entity of the unsecured
obligations of a Person who is not the Borrower or a Consolidated Entity constitutes the secured
debt of the Borrower or such Consolidated Entity giving the guaranty, and (h) any secured guaranty
given by the Borrower or any Consolidated Entity of the unsecured obligations of the Borrower or
another Consolidated Entity constitutes the secured debt of the Borrower or such Consolidated
Entity giving the guaranty and shall not be calculated as part of the obligations (either secured
or unsecured) of the Borrower or the Consolidated Entity directly incurring such obligations
(except to the extent that the relevant calculation does not otherwise account for the obligations
of the Borrower or such Consolidated Entity giving the guaranty, in which case it shall constitute
the Unsecured Debt of the Borrower or the Consolidated Entity directly incurring the underlying
unsecured obligations). For purposes of calculating the financial covenants contained herein,
obligations of the Borrower or any Consolidated Entity pursuant to the terms of any letter of
credit shall be treated in the same manner as a guaranty.

     “Unused Fee” has the meaning set forth in Section 2.09(a).

     “Value of Income Producing Assets” means, as of any date, the aggregate value of each
Income Producing Asset existing as of such date, where the value of each such Income Producing
Asset equals: the product of (a) the Adjusted Consolidated EBITDA for the most recent calendar
quarter allocable to such Income Producing Asset, (i) multiplied by four (4), (ii) then,
divided by the Applicable Capitalization Rate, multiplied by (b) (i) if such asset
is owned by the Borrower or any Consolidated Entity, 100% (adjusted, in the case of such an asset
owned by a Consolidated Entity, appropriately to reflect the relative direct and indirect economic
interest (calculated as a percentage) of the Borrower in such Consolidated Entity determined in
accordance with the applicable provisions of the organizational documents of such Consolidated
Entity), and (ii) if such asset is owned by an Unconsolidated Entity, the percentage of the
Borrower’s direct or indirect ownership in the Unconsolidated Entity owning such asset;
provided, however, that (A) if any Income Producing Asset has been an Income
Producing Asset for a period of less than four (4) calendar quarters, then such Income Producing
Asset will be assigned a value which is the greater of (i) the value of such asset determined in
accordance with clauses (a) and (b) above and (ii) the value of such asset determined in accordance
with clauses (a) and (b) of the definition of “Value of Non-Income Producing Assets” and (B)
notwithstanding anything in this Agreement to the contrary, the 191 Peachtree Building shall be
assigned a value which is the greater of (i) the value of such asset determined in accordance with
clauses (a) and (b) above and (ii) the value of such asset determined in accordance with clauses
(a) and (b) of the definition of “Value of Non-Income Producing Assets”; provided, that at
any time the Borrower may by delivery of written notice to the Administrative Agent elect to have
the provisions of this clause (B) and of Section 7.03(a)(ii)(A)(2) no longer apply, in which event
the 191 Peachtree Building shall be assigned a value as determined pursuant to this Agreement at
all times thereafter (without regard to the terms of this clause (B) and Section
7.03(a)(ii)(A)(2)).

     “Value of Liquid Assets” means, as of any date, the sum of (a) the amount of cash
included in Liquid Assets, plus (b) an amount equal to (i) the market value of any marketable

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securities included in Liquid Assets, less (ii) to the extent not included in Total Debt, any
margin indebtedness with respect thereto, plus (c) the book value of notes receivable secured by a
mortgage instrument with a valid and enforceable first priority mortgage lien on a fee or leasehold
interest held by the debtor in the applicable real estate assets and included in Liquid Assets
(where the fair market value of such real estate assets is greater than or equal to 110% of the
amount of indebtedness secured thereby); provided, that with respect to each asset the
respective amounts used in calculating clauses (a), (b) and (c) above shall be multiplied by (1) if
such asset is owned by the Borrower or any Consolidated Entity, 100% (adjusted, in the case of such
an asset owned by a Consolidated Entity, appropriately to reflect the relative direct and indirect
economic interest (calculated as a percentage) of the Borrower in such Consolidated Entity
determined in accordance with the applicable provisions of the organizational documents of such
Consolidated Entity), and (2) if such asset is owned by an Unconsolidated Entity, the percentage of
the Borrower’s direct or indirect ownership in the Unconsolidated Entity owning such asset.

     “Value of Non-Income Producing Assets” means on any calculation date, the aggregate
value of all Non-Income Producing Assets, where the value of each such Non-Income Producing Asset
is equal to the product of (a) the cost of such asset reported to the date of calculation in
accordance with GAAP, times (b) (i) if such asset is owned by the Borrower or any
Consolidated Entity, 100% (adjusted, in the case of such an asset owned by a Consolidated Entity,
appropriately to reflect the relative direct and indirect economic interest (calculated as a
percentage) of the Borrower in such Consolidated Entity determined in accordance with the
applicable provisions of the organizational documents of such Consolidated Entity), or (ii) if such
asset is owned by an Unconsolidated Entity, the percentage of the Borrower’s direct or indirect
ownership in the Unconsolidated Entity owning such asset; provided, however, that
the Wildwood, North Point and Paulding undeveloped land and pad sites located at Ten Peachtree
Place, One Georgia Center and Points at Waterview held by the Borrower or its Consolidated Entities
shall be valued at a total of $87,332,000 for purposes of this definition as of closing
($16,400,000 of such amount is attributable to the Wildwood undeveloped land, $18,184,000 to the
North Point undeveloped land, $37,548,000 to the Paulding undeveloped land, $8,000,000 to the pad
site at Ten Peachtree Place, $6,000,000 to the pad site at One Georgia Center and $1,2000,000 to
the pad site at Points at Waterview); provided further, that in the event any
parcels of such undeveloped land are sold, such aggregate value amount shall be reduced according
to the value attributed to the undeveloped land sold, or, in the event that only a portion of any
such undeveloped land is sold, to be reduced pro rata according to square footage or acreage, as
applicable), subject to the right of the Administrative Agent to request the re-appraisal of one or
more of such properties in the event that the Administrative Agent reasonably believes that the
value thereof has been materially reduced for any reason.

     1.02 Other Interpretive Provisions. With reference to this Agreement and each other Loan
Document, unless otherwise specified herein or in such other Loan Document:

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

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     (b) (i) The words “herein,” “hereto,” “hereof” and
“hereunder” and words of similar import when used in any Loan Document shall refer
to such Loan Document as a whole and not to any particular provision thereof.

     (ii) Article, Section, Exhibit and Schedule references are to the Loan Document
in which such reference appears.

     (iii) The term “including” is by way of example and not limitation.

     (iv) The term “documents” includes any and all instruments, documents,
agreements, certificates, notices, reports, financial statements and other writings,
however evidenced, whether in physical or electronic form.

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

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

     1.03 Accounting Terms.

     (a) All accounting terms not specifically or completely defined herein shall be
construed in conformity with, and all financial data (including financial ratios and other
financial calculations) required to be submitted pursuant to this Agreement shall be
prepared in conformity with, GAAP (except as provided in this Agreement with respect to
Investment Entities) applied on a consistent basis, as in effect from time to time, applied
in a manner consistent with that used in preparing the Audited Financial Statements,
except as otherwise specifically prescribed herein.

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

     1.04 Rounding. Any financial ratios required to be maintained by the Borrower pursuant to
this Agreement shall be calculated by dividing the appropriate component by the

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other component, carrying the result to one place more than the number of places by which such
ratio is expressed herein and rounding the result up or down to the nearest number (with a
rounding-up if there is no nearest number).

     1.05 References to Agreements and Laws. Unless otherwise expressly provided herein, (a)
references to Organization Documents, agreements (including the Loan Documents) and other
contractual instruments shall be deemed to include all subsequent amendments, restatements,
extensions, supplements and other modifications thereto, but only to the extent that such
amendments, restatements, extensions, supplements and other modifications are not prohibited by any
Loan Document; and (b) references to any Law shall include all statutory and regulatory provisions
consolidating, amending, replacing, supplementing or interpreting such Law.

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

     1.07 Letter of Credit Amounts. Unless otherwise specified, all references herein to the
amount of a Letter of Credit at any time shall be deemed to mean the maximum face amount of such
Letter of Credit after giving effect to all increases thereof contemplated by such Letter of Credit
or the Issuer Documents related thereto, whether or not such maximum face amount is in effect at
such time.

ARTICLE II

THE COMMITMENTS AND CREDIT EXTENSIONS

     2.01 Loans.

     (a) Revolving Credit Loans. Subject to the terms and conditions set forth herein,
each Revolving Credit Lender severally agrees to make loans (each such loan, a “Revolving
Credit Loan”) to the Borrower and/or the Co-Borrower identified by Borrower in the applicable
Revolving Credit Loan Notice from time to time (on any Business Day during the Availability Period)
in an aggregate amount not to exceed at any time the amount of such Lender’s Revolving Credit
Commitment; provided, however, that after giving effect to any Revolving Credit
Borrowing, (i) the Total Revolving Credit Outstandings shall not exceed the Aggregate Revolving
Credit Commitments, (ii) the aggregate Outstanding Amount of the Revolving Credit Loans of any
Lender, plus such Lender’s Pro Rata Share of the Outstanding Amount of all L/C Obligations,
plus such Lender’s Pro Rata Share of the Outstanding Amount of all Swing Line Loans shall
not exceed such Lender’s Revolving Credit Commitment and (iii) the aggregate Unsecured Debt of the
Borrower and the Consolidated Entities (including any requested or pending Credit Extension) shall
not exceed the amount permitted pursuant to Section 7.03(a)(ii) hereof. Within the limits
of each Lender’s Revolving Credit Commitment, and subject to the other terms and conditions hereof,
the Borrower and Co-Borrowers may borrow under this Section 2.01(a), prepay under
Section 2.05, and reborrow under this Section 2.01(a). Revolving Credit Loans may
be Base Rate Loans or Eurodollar Rate Loans, as further provided herein.

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     (b) Term Loans. Subject to the terms and conditions set forth herein, each Term
Lender severally agrees to make a single loan on the Closing Date to the Borrower and/or any
Co-Borrower identified by the Borrower in an amount not to exceed such Term Lender’s Term
Commitment (each such loan, a “Term Loan”). The Term Borrowing shall consist of Term Loans made
simultaneously by the Term Lenders in accordance with their respective Pro Rata Share of the Term
Facility. Amounts borrowed under this Section 2.01(b) and repaid or prepaid may not be
reborrowed. Term Loans may be Base Rate Loans or Eurodollar Rate Loans, as further provided
herein.

     2.02 Borrowings, Conversions and Continuations of Loans.

     (a) Each Term Borrowing and each Revolving Credit Borrowing, each conversion of Term Loans and
Revolving Credit Loans from one Type to the other, and each continuation of Eurodollar Rate Loans
shall be made upon irrevocable notice from the Borrower (on its own behalf or on behalf of the
applicable Co-Borrower) to the Administrative Agent, which may be given by telephone
(provided that such telephonic notice complies with the information requirements of the
form of an applicable Loan Notice attached hereto). Each such notice must be received by the
Administrative Agent not later than 1:00 p.m. (i) three Business Days prior to the requested date
of any Term Borrowing or Revolving Credit Borrowing of, conversion to or continuation of Eurodollar
Rate Loans, and (ii) on the requested date of any Term Borrowing or Revolving Credit Borrowing of
Base Rate Loans. Each telephonic notice by the Borrower pursuant to this Section 2.02(a)
must be confirmed promptly by delivery to the Administrative Agent of a written Loan Notice,
appropriately completed and signed by a Responsible Officer of the Borrower. Each Term Borrowing
and each Revolving Credit Borrowing of, conversion to or continuation of Eurodollar Rate Loans
shall be in a principal amount of $1,000,000 or a whole multiple of $100,000 in excess thereof.
Except as provided in Sections 2.03(c) and 2.04(c), each Borrowing of or conversion
to Base Rate Loans shall be in a principal amount of $500,000 or a whole multiple of $100,000 in
excess thereof. Each Loan Notice (whether telephonic or written) shall specify (i) whether the
Borrower or a Co-Borrower is requesting a Term Borrowing or a Revolving Credit Borrowing, a
conversion of Term Loans or Revolving Credit Loans from one Type to the other, or a continuation of
Eurodollar Rate Loans, (ii) the requested date of the applicable Borrowing, conversion or
continuation, as the case may be (which shall be a Business Day), (iii) the principal amount of
Term Loans or Revolving Credit Loans to be borrowed, converted or continued, (iv) the Type of Term
Loan or Revolving Credit Loans to be borrowed or to which existing Term Loans or Revolving Credit
Loans are to be converted, and (v) if applicable, the duration of the Interest Period with respect
thereto. If the Borrower fails to specify a Type of Loan in a Loan Notice or if the Borrower fails
to give a timely notice requesting a conversion or continuation, then the applicable Term Loans or
Revolving Credit Loans shall be made as, or converted to, Eurodollar Rate Loans with an interest
period of one month. Any such automatic conversion to Eurodollar Rate Loans shall be effective as
of the last day of the Interest Period then in effect with respect to the applicable Eurodollar
Rate Loans. If the Borrower requests a Borrowing of, conversion to, or continuation of Eurodollar
Rate Loans in any such Loan Notice, but fails to specify an Interest Period, it will be deemed to
have specified an Interest Period of one month. For the avoidance of doubt and notwithstanding
anything contained herein to the contrary, a Swing Line Loan may not be converted into a

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Eurodollar Rate Loan (but may be converted to a Revolving Credit Loan, which can be either a Base Rate Loan or
a Eurodollar Rate Loan).

     (b) Following receipt of a Term Loan Notice or a Revolving Credit Loan Notice, the
Administrative Agent shall promptly notify each Appropriate Lender of the amount of its Pro Rata
Share of the applicable Term Loans or Revolving Credit Loans, and if notice of a conversion or
continuation is not provided by the Borrower by 1:00 p.m. three Business Days prior to the
requested date of any Borrowing of, conversion to or continuation of Eurodollar Rate Loans, the
Administrative Agent shall notify each Appropriate Lender of the details of any automatic
conversion to Eurodollar Rate Loans described in the preceding subsection. In the case of a Term
Borrowing or Revolving Credit Borrowing, each Appropriate Lender shall make the amount of its Loan
available to the Administrative Agent in immediately available funds at the Administrative Agent’s
Office not later than 12:00 p.m. on the Business Day specified in the applicable Loan Notice for
notices related to Eurodollar Rate Loans or notices related to Base Rate Loans and given by the
Borrower on or prior to 3:00 p.m. on the day prior to the requested date for such Credit Extension
or 3:00 p.m. on the Business Day specified in the applicable Loan Notice for notices related to
Base Rate Loans delivered after such time; provided, in each case, that nothing contained in this
sentence shall be deemed to alter the requirements contained in the previous sentence for timely
delivery of notices relating to Base Rate Loans or Eurodollar Rate Loans. Upon satisfaction of the
applicable conditions set forth in Section 4.02 (and, if such Borrowing is the initial
Credit Extension, Section 4.01), the Administrative Agent shall make all funds so received
available to the Borrower or the applicable Co-Borrower in like funds as received by the
Administrative Agent either by (i) crediting the account of the Borrower or the applicable
Co-Borrower on the books of Bank of America with the amount of such funds or (ii) wire transfer of
such funds, in each case in accordance with instructions provided to (and reasonably acceptable to)
the Administrative Agent by the Borrower (on its own behalf or on behalf of the applicable
Co-Borrower).

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

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

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

46

 

more than fifteen (15) Interest Periods in effect with respect to the Revolving Credit Facility. No more than eight (8)
Revolving Credit Borrowings may be initiated in any given calendar month.

     (f) Any Revolving Credit Loan Notice or Term Loan Notice identifying a Co-Borrower as the
party to whom the applicable Revolving Credit Loan or Term Loan should be directed may designate
such Co-Borrower as the “primary obligor” with respect to such Loan and amounts payable with
respect thereto. Such designation, however, shall not prevent the Borrower, each other Co-Borrower
and each Guarantor hereunder from remaining liable for the full and final repayment of such Loan
and such other amounts and for the full and final repayment of the Obligations as required pursuant
to the terms hereof and the Borrower, each Co-Borrower and each Guarantor hereby acknowledges and
agrees that each of them shall be and shall remain liable for the full and final repayment of each
Revolving Credit Loan or Term Loan, as applicable, made pursuant to the terms hereof in accordance
with this Agreement, regardless of the party to whom such Revolving Credit Loan or Term Loan, as
applicable, is funded and regardless of whether a specific party is designated as the “primary
obligor” with respect thereto.

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     2.03 Letters of Credit.

     (a) The Letter of Credit Commitment.

     (i) Subject to the terms and conditions set forth herein, (A) the L/C Issuer agrees, in
reliance upon the agreements of the other Revolving Credit Lenders set forth in this
Section 2.03, (1) from time to time on any Business Day during the period from the
Closing Date until the Letter of Credit Cash Collateral Date, to issue Letters of Credit for
the account of the Borrower, any Consolidated Entity or any Unconsolidated Entity, and to
amend or extend Letters of Credit previously issued by it, in accordance with subsection (b)
below, and (2) to honor drawings under the Letters of Credit; and (B) the Revolving Credit
Lenders severally agree to participate in Letters of Credit issued for the account of the
Borrower, any Consolidated Entity or any Unconsolidated Entity and any drawings thereunder;
provided that after giving effect to any L/C Credit Extension with respect to any
Letter of Credit, (w) the Total Revolving Credit Outstandings shall not exceed the Revolving
Credit Commitments, (x) the aggregate Outstanding Amount of the Revolving Credit Loans of
any Revolving Credit Lender, plus such Revolving Credit Lender’s Pro Rata Share of
the Outstanding Amount of all L/C Obligations, plus such Revolving Credit Lender’s
Pro Rata Share of the Outstanding Amount of all Swing Line Loans shall not exceed such
Lender’s Revolving Credit Commitment, (y) the Outstanding Amount of the L/C Obligations
shall not exceed the Letter of Credit Sublimit and (z) the aggregate Unsecured Debt of the
Borrower and the Consolidated Entities (including any requested or pending Credit Extension)
shall not exceed the amount permitted pursuant to Section 7.03(a)(ii) hereof. Each
request by the Borrower for the issuance or amendment of a Letter of Credit shall be deemed
to be a representation by the Borrower that the L/C Credit Extension so requested complies
with the conditions set forth in the proviso to the preceding sentence. Within the foregoing
limits, and subject to the terms and conditions hereof, the Borrower’s ability to obtain
Letters of Credit shall be fully revolving, and accordingly the Borrower may, during the
foregoing period, obtain Letters of Credit to replace Letters of Credit that are expiring or
have expired or that have been drawn upon and reimbursed. All Existing Letters of Credit
shall be deemed to have been issued pursuant hereto, and from and after the Closing Date
shall be subject to and governed by the terms and conditions hereof.

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

     (A) subject to Section 2.03(b)(iii), the expiry date of such requested
Letter of Credit would occur more than twelve months after the date of issuance or
last extension, unless the Required Revolving Credit Lenders have approved such
expiry date; or

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

     (C) the requested Letter of Credit is not a standby letter of credit.

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

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

     (B) the issuance of such Letter of Credit would violate any Laws or one or more
policies of the L/C Issuer;

     (C) such Letter of Credit is to be denominated in a currency other than
Dollars;

     (D) such Letter of Credit contains any provision for automatic reinstatement of
the stated amount after any drawing thereunder; or

     (E) a default of any Revolving Credit Lender’s obligations to fund under
Section 2.03(c) exists or any Revolving Credit Lender is at such time a
Defaulting Lender hereunder, unless the L/C Issuer has entered into satisfactory
arrangements with the Borrower or such Revolving Credit Lender to eliminate the L/C
Issuer’s risk with respect to such Revolving Credit Lender.

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

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

     (b) Procedures for Issuance and Amendment of Letters of Credit; Auto-Extension Letters of
Credit.

     (i) Each Letter of Credit shall be issued or amended, as the case may be, upon the
request of the Borrower delivered to the L/C Issuer (with a copy to the Administrative
Agent) in the form of a Letter of Credit Application, appropriately completed and signed by
a Responsible Officer of the Borrower. Such Letter of Credit Application must be

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received by the L/C Issuer and the Administrative Agent not later than 11:00 a.m. at
least two Business Days (or such later date and time as the Administrative Agent and the L/C
Issuer may agree in a particular instance in their sole discretion) prior to the proposed
issuance date or date of amendment, as the case may be. In the case of a request for an
initial issuance of a Letter of Credit, such Letter of Credit Application shall specify in
form and detail satisfactory to the L/C Issuer: (A) the proposed issuance date of the
requested Letter of Credit (which shall be a Business Day); (B) the amount thereof; (C) the
expiry date thereof; (D) the name and address of the beneficiary thereof; (E) the documents
to be presented by such beneficiary in case of any drawing thereunder; (F) the full text of
any certificate to be presented by such beneficiary in case of any drawing thereunder; and
(G) such other matters as the L/C Issuer may reasonably require. In the case of a request
for an amendment of any outstanding Letter of Credit, such Letter of Credit Application
shall specify in form and detail satisfactory to the L/C Issuer (A) the Letter of Credit to
be amended; (B) the proposed date of amendment thereof (which shall be a Business Day); (C)
the nature of the proposed amendment; and (D) such other matters as the L/C Issuer may
reasonably require. Additionally, the Borrower shall furnish to the L/C Issuer and the
Administrative Agent such other documents and information pertaining to such requested
Letter of Credit issuance or amendment, including any Issuer Documents, as the L/C Issuer or
the Administrative Agent may reasonably require.

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

     (iii) If the Borrower so requests in any applicable Letter of Credit Application, the
L/C Issuer shall agree to issue a Letter of Credit that has automatic extension provisions
(each, an “Auto-Extension Letter of Credit”) so long as no Default exists on the
renewal date or would be caused by such renewal; provided that any such
Auto-Extension Letter of Credit must permit the L/C Issuer to prevent any such extension at
least once in each twelve-month period (commencing with the date of issuance of such Letter
of Credit) by giving prior notice to the beneficiary thereof not later than a day (the
“Non-Extension Notice Date”) in each such twelve-month period to be agreed upon at
the

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time such Letter of Credit is issued. Unless otherwise directed by the L/C Issuer, the
Borrower shall not be required to make a specific request to the L/C Issuer for any such
extension. Once an Auto-Extension Letter of Credit has been issued, the Revolving Credit
Lenders shall be deemed to have authorized (but may not require) the L/C Issuer to permit
the extension of such Letter of Credit at any time to an expiry date not later than the
Letter of Credit Expiration Date; provided, however, that the L/C Issuer
shall not permit any such extension if (A) the L/C Issuer has determined that it would not
be permitted, or would have no obligation at such time to issue such Letter of Credit in its
revised form under the terms hereof (by reason of the provisions of clause (ii) or (iii) of
Section 2.03(a) or otherwise), or (B) it has received notice (which may be by
telephone or in writing) on or before the day that is five Business Days before the
Non-Extension Notice Date (1) from the Administrative Agent that the Required Revolving
Credit Lenders have elected not to permit such extension or (2) from the Administrative
Agent, any Revolving Credit Lender or any Loan Party that one or more of the applicable
conditions specified in Section 4.02 is not then satisfied, and in each case
directing the L/C Issuer not to permit such extension.

     (iv) If the Borrower so requests in any applicable Letter of Credit Application, the
L/C Issuer may, in its sole and absolute discretion, agree to issue a Letter of Credit that
permits the automatic reinstatement of all or a portion of the stated amount thereof after
any drawing thereunder that occurs prior to the Letter of Credit Cash Collateral Date (each,
an “Auto-Reinstatement Letter of Credit”). Unless otherwise directed by the L/C
Issuer, the Borrower shall not be required to make a specific request to the L/C Issuer to
permit such reinstatement. Once an Auto-Reinstatement Letter of Credit has been issued,
except as provided in the following sentence, the Revolving Credit Lenders shall be deemed
to have authorized (but may not require) the L/C Issuer to reinstate all or a portion of the
stated amount thereof in accordance with the provisions of such Letter of Credit.
Notwithstanding the foregoing, if such Auto-Reinstatement Letter of Credit permits the L/C
Issuer to decline to reinstate all or any portion of the stated amount thereof after a
drawing thereunder by giving notice of such non-reinstatement within a specified number of
days after such drawing (the “Non-Reinstatement Deadline”), the L/C Issuer shall not
permit such reinstatement if it has received a notice (which may be by telephone or in
writing) on or before the day that is five Business Days before the Non-Reinstatement
Deadline (A) from the Administrative Agent that the Required Revolving Credit Lenders have
elected not to permit such reinstatement or (B) from the Administrative Agent, any Revolving
Credit Lender or the Borrower that one or more of the applicable conditions specified in
Section 4.02 is not then satisfied and, in each case, directing the L/C Issuer not
to permit such reinstatement.

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

     (c) Drawings and Reimbursements; Funding of Participations.

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     (i) Upon receipt from the beneficiary of any Letter of Credit of any notice of a
drawing under such Letter of Credit, the L/C Issuer shall notify the Borrower and the
Administrative Agent thereof. Not later than 11:00 a.m. on the date of any payment by the
L/C Issuer under a Letter of Credit (each such date, an “Honor Date”), the Borrower
shall reimburse the L/C Issuer through the Administrative Agent in an amount equal to the
amount of such drawing. If the Borrower fails to so reimburse the L/C Issuer by such time,
the Administrative Agent shall promptly notify each Revolving Credit Lender of the Honor
Date, the amount of the unreimbursed drawing (the “Unreimbursed Amount”), and the
amount of such Revolving Credit Lender’s Pro Rata Share thereof. In such event, the
Borrower shall be deemed to have requested a Revolving Credit Borrowing of Base Rate Loans
to be disbursed on the Honor Date in an amount equal to the Unreimbursed Amount, without
regard to the minimum and multiples specified in Section 2.02 for the principal
amount of Base Rate Loans, but subject to the amount of the unutilized portion of the
Revolving Credit Commitments and the conditions set forth in Section 4.02 (other
than the delivery of a Revolving Credit Loan Notice). Any notice given by the L/C Issuer or
the Administrative Agent pursuant to this Section 2.03(c)(i) may be given by
telephone if immediately confirmed in writing; provided that the lack of such an
immediate confirmation shall not affect the conclusiveness or binding effect of such notice.

     (ii) Each Revolving Credit Lender (including the Revolving Credit Lender acting as L/C
Issuer) shall upon any notice pursuant to Section 2.03(c)(i) make funds available to
the Administrative Agent for the account of the L/C Issuer at the Administrative Agent’s
Office in an amount equal to its Pro Rata Share of the Unreimbursed Amount not later than
1:00 p.m. on the Business Day specified in such notice by the Administrative Agent,
whereupon, subject to the provisions of Section 2.03(c)(iii), each Revolving Credit
Lender that so makes funds available shall be deemed to have made a Base Rate Loan under the
Revolving Credit Facility to the Borrower in such amount. The Administrative Agent shall
remit the funds so received to the L/C Issuer.

     (iii) With respect to any Unreimbursed Amount that is not fully refinanced by a
Revolving Credit Borrowing of Base Rate Loans because the conditions set forth in
Section 4.02 cannot be satisfied or for any other reason, the Borrower shall be
deemed to have incurred from the L/C Issuer an L/C Borrowing in the amount of the
Unreimbursed Amount that is not so refinanced, which L/C Borrowing shall be due and payable
on demand (together with interest) and shall (except to the extent such Unreimbursed Amount
was not refinanced as a result of the failure of Revolving Credit Lenders to fund a
Revolving Credit Loan in accordance with the terms and conditions set forth herein) bear
interest at the Default Rate. In such event, each Revolving Credit Lender’s payment to the
Administrative Agent for the account of the L/C Issuer pursuant to Section
2.03(c)(ii) shall be deemed payment in respect of its participation in such L/C
Borrowing and shall constitute an L/C Advance from such Lender in satisfaction of its
participation obligation under this Section 2.03.

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     (iv) Until each Revolving Credit Lender funds its Revolving Credit Loan or L/C Advance
pursuant to this Section 2.03(c) to reimburse the L/C Issuer for any amount drawn
under any Letter of Credit, interest in respect of such Lender’s Pro Rata Share of such
amount shall be solely for the account of the L/C Issuer.

     (v) Each Revolving Credit Lender’s obligation to make Revolving Credit Loans or L/C
Advances to reimburse the L/C Issuer for amounts drawn under Letters of Credit, as
contemplated by this Section 2.03(c), shall be absolute and unconditional and shall
not be affected by any circumstance, including (A) any set-off, counterclaim, recoupment,
defense or other right which such Revolving Credit Lender may have against the L/C Issuer,
the Borrower or any other Person for any reason whatsoever; (B) the occurrence or
continuance of a Default, or (C) any other occurrence, event or condition, whether or not
similar to any of the foregoing; provided, however, that each Revolving
Credit Lender’s obligation to make Revolving Credit Loans pursuant to this Section
2.03(c) is subject to the conditions set forth in Section 4.02 (other than
delivery by the Borrower of a Revolving Credit Loan Notice). No such making of an L/C
Advance shall relieve or otherwise impair the obligation of the Borrower to reimburse the
L/C Issuer for the amount of any payment made by the L/C Issuer under any Letter of Credit,
together with interest as provided herein.

     (vi) If any Revolving Credit Lender fails to make available to the Administrative Agent
for the account of the L/C Issuer any amount required to be paid by such Revolving Credit
Lender pursuant to the foregoing provisions of this Section 2.03(c) by the time
specified in Section 2.03(c)(ii), the L/C Issuer shall be entitled to recover from
such Revolving Credit Lender (acting through the Administrative Agent), on demand, such
amount with interest thereon for the period from the date such payment is required to the
date on which such payment is immediately available to the L/C Issuer at a rate per annum
equal to the Federal Funds Rate from time to time in effect, plus any administrative,
processing or similar fees customarily charged by the L/C Issuer in connection with the
foregoing. If such Revolving Credit Lender pays such amount (with interest and fees as
aforesaid), the amount so paid shall constitute such Revolving Credit Lender’s Loan included
in the relevant Borrowing or L/C Advance in respect of the relevant L/C Borrowing, as the
case may be. A certificate of the L/C Issuer submitted to any Revolving Credit Lender
(through the Administrative Agent) with respect to any amounts owing under this clause (vi)
shall be conclusive absent manifest error.

     (d) Repayment of Participations.

     (i) At any time after the L/C Issuer has made a payment under any Letter of Credit and
has received from any Revolving Credit Lender such Revolving Credit Lender’s L/C Advance in
respect of such payment in accordance with Section 2.03(c), if the Administrative
Agent receives for the account of the L/C Issuer any payment in respect of the related
Unreimbursed Amount or interest thereon (whether directly from the Borrower or otherwise,
including proceeds of Cash Collateral applied thereto by the Administrative Agent), the
Administrative Agent will distribute to such Revolving Credit

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Lender its Pro Rata Share thereof in the same funds as those received by the
Administrative Agent.

     (ii) If any payment received by the Administrative Agent for the account of the L/C
Issuer pursuant to Section 2.03(c)(i) is required to be returned under any of the
circumstances described in Section 10.06 (including pursuant to any settlement
entered into by the L/C Issuer in its discretion), each Revolving Credit Lender shall pay to
the Administrative Agent for the account of the L/C Issuer its Pro Rata Share thereof on
demand of the Administrative Agent, plus interest thereon from the date of such demand to
the date such amount is returned by such Revolving Credit Lender, at a rate per annum equal
to the Federal Funds Rate from time to time in effect.

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

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

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

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

     (iv) any payment by the L/C Issuer under such Letter of Credit against presentation of
a draft or certificate that does not strictly comply with the terms of such Letter of
Credit; or any payment made by the L/C Issuer under such Letter of Credit to any Person
purporting to be a trustee in bankruptcy, debtor-in-possession, assignee for the benefit of
creditors, liquidator, receiver or other representative of or successor to any beneficiary
or any transferee of such Letter of Credit, including any arising in connection with any
proceeding under any Debtor Relief Law; or

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

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in each case, to the extent not resulting from the gross negligence or willful misconduct of the
L/C Issuer.

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

     (f) Role of L/C Issuer. Each Revolving Credit Lender and the Borrower agree that, in
paying any drawing under a Letter of Credit, the L/C Issuer shall not have any responsibility to
obtain any document (other than any sight draft, certificates and documents expressly required by
the Letter of Credit) or to ascertain or inquire as to the validity or accuracy (other than
conformance to the terms of the Letter of Credit) of any such document or the authority of the
Person executing or delivering any such document. None of the L/C Issuer, any Agent-Related Person
nor any of the respective correspondents, participants or assignees of the L/C Issuer shall be
liable to any Revolving Credit Lender for (i) any action taken or omitted in connection herewith at
the request or with the approval of the Revolving Credit Lenders or the Required Revolving Credit
Lenders, as applicable; (ii) any action taken or omitted in the absence of gross negligence or
willful misconduct; or (iii) the due execution, effectiveness, validity or enforceability of any
document or instrument related to any Letter of Credit or Letter of Credit Application. The
Borrower hereby assumes all risks of the acts or omissions of any beneficiary or transferee with
respect to its use of any Letter of Credit; provided, however, that this assumption
is not intended to, and shall not, preclude the Borrower’s pursuing such rights and remedies as it
may have against the beneficiary or transferee at law or under any other agreement. None of the
L/C Issuer, any Agent-Related Person, nor any of the respective correspondents, participants or
assignees of the L/C Issuer, shall be liable or responsible for any of the matters described in
clauses (i) through (v) of Section 2.03(e); provided, however, that
anything in such clauses to the contrary notwithstanding, the Borrower may have a claim against the
L/C Issuer, and the L/C Issuer may be liable to the Borrower, to the extent, but only to the
extent, of any direct, as opposed to consequential or exemplary, damages suffered by the Borrower,
Consolidated Entities or Unconsolidated Entities which the Borrower proves were caused by the L/C
Issuer’s willful misconduct or gross negligence or the L/C Issuer’s willful failure to pay under
any Letter of Credit after the presentation to it by the beneficiary of a sight draft and
certificate(s) strictly complying with the terms and conditions of a Letter of Credit. In
furtherance and not in limitation of the foregoing, the L/C Issuer may accept documents that appear
on their face to be in order, without responsibility for further investigation, regardless of any
notice or information to the contrary, and the L/C Issuer shall not be responsible for the validity
or sufficiency of any instrument transferring or assigning or purporting to transfer or assign a
Letter of Credit or the rights or benefits thereunder or proceeds thereof, in whole or in part,
which may prove to be invalid or ineffective for any reason.

     (g) Cash Collateral. Upon the request of the Administrative Agent, (i) if the L/C
Issuer has honored any full or partial drawing request under any Letter of Credit and such drawing
has resulted in an L/C Borrowing, or (ii) if, as of the Letter of Credit Cash Collateral Date, any
Letter of Credit for any reason remains outstanding and partially or wholly undrawn,

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the Borrower shall immediately Cash Collateralize the then Outstanding Amount of all L/C
Obligations (in an amount equal to such Outstanding Amount determined as of the Letter of Credit
Cash Collateral Date). Sections 2.05 and 8.02(c) set forth certain additional
requirements to deliver Cash Collateral hereunder. For purposes of this Section 2.03,
Section 2.05 and Section 8.02(c), “Cash Collateralize” means to pledge and
deposit with or deliver to the Administrative Agent, for the benefit of the L/C Issuer and the
Revolving Credit Lenders, as collateral for the L/C Obligations, cash or deposit account balances
pursuant to documentation in form and substance satisfactory to the Administrative Agent and the
L/C Issuer (which documents are hereby consented to by the Revolving Credit Lenders). Derivatives
of such term have corresponding meanings. The Borrower hereby grants to the Administrative Agent,
for the benefit of the L/C Issuer and the Revolving Credit Lenders, a security interest in all such
cash, deposit accounts and all balances therein and all proceeds of the foregoing. Cash Collateral
shall be maintained in blocked, interest bearing deposit accounts at Bank of America.

     (h) Applicability of ISP.  Unless otherwise expressly agreed by the L/C
Issuer and the Borrower when a Letter of Credit is issued (including any such agreement applicable
to an Existing Letter of Credit), the rules of the ISP shall apply to each Letter of Credit.

     (i) Letter of Credit Fees. The Borrower shall pay to the Administrative Agent for the
account of each Revolving Credit Lender in accordance with its Pro Rata Share a Letter of Credit
Fee (the “Letter of Credit Fee”) for each Letter of Credit equal to the Applicable Rate for
the Revolving Credit Facility times the daily maximum amount available to be drawn under
such Letter of Credit (whether or not such maximum amount is then in effect under such Letter of
Credit). Letter of Credit Fees shall be (i) computed on a quarterly basis in arrears and (ii) due
and payable on the first Business Day after the end of each March, June, September and December,
commencing with the first such date after the Closing Date to occur after the issuance of such
Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. If there is
any change in the Applicable Rate for the Revolving Credit Facility during any quarter, the daily
maximum amount of each Letter of Credit shall be computed and multiplied by the Applicable Rate for
the Revolving Credit Facility separately for each period during such quarter that such Applicable
Rate for the Revolving Credit Facility was in effect. Notwithstanding anything to the contrary
contained herein, upon the request of the Required Revolving Credit Lenders, while any Event of
Default exists, all Letter of Credit Fees shall accrue at the Default Rate.

     (j) Fronting Fee and Processing Charges Payable to L/C Issuer. The Borrower shall pay
directly to the L/C Issuer for its own account a fronting fee for each Letter of Credit equal to
0.125% per annum times the daily maximum amount available to be drawn under such Letter of Credit
(whether or not such maximum amount is then in effect under such Letter of Credit). Such fronting
fee for each Letter of Credit shall be (i) computed on a quarterly basis in arrears and (ii) due
and payable on the first Business Day after the end of each March, June, September and December,
commencing with the first such date to occur after the issuance of such Letter of Credit, on the
Letter of Credit Expiration Date and thereafter within five (5) days of demand. In addition, the
Borrower shall pay directly to the L/C Issuer for its own account the customary issuance,
presentation, amendment and other processing fees, and other standard costs and charges, of the L/C
Issuer relating to letters of credit as from time to time in effect. Such

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customary fees and standard costs and charges are due and payable on demand and are
nonrefundable.

     (k) Conflict with Issuer Documents. In the event of any conflict between the terms
hereof and the terms of any Issuer Documents, the terms hereof shall control. Without limiting the
foregoing, this Agreement shall govern the reimbursement of draws under Letters of Credit.

     (l) Letters of Credit Issued for Consolidated Entities/Unconsolidated Entities.
Notwithstanding that a Letter of Credit issued or outstanding hereunder is in support of any
obligations of, or is for the account of, a Consolidated Entity or Unconsolidated Entity, the
Borrower shall (i) be required to sign the applicable Letter of Credit Application and (ii) be
obligated to reimburse the L/C Issuer hereunder for any and all drawings under such Letter of
Credit. The Borrower hereby acknowledges that the issuance of Letters of Credit for the account of
any Consolidated Entity and/or any Unconsolidated Entity inures to the benefit of the Borrower, and
that the Borrower’s business derives substantial benefits from the businesses of such Persons.

     2.04 Swing Line Loans.

     (a) The Swing Line. Subject to the terms and conditions set forth herein, the Swing
Line Lender agrees, in reliance upon the agreements of the other Revolving Credit Lenders set forth
in this Section 2.04, to make loans (each such loan, a “Swing Line Loan”) to the
Borrower and/or the Co-Borrower identified by Borrower in the applicable Swing Line Loan Notice
from time to time on any Business Day during the Availability Period in an aggregate amount not to
exceed at any time outstanding the amount of the Swing Line Sublimit, notwithstanding the fact that
such Swing Line Loans, when aggregated with the Pro Rata Share of the Outstanding Amount of
Revolving Credit Loans and L/C Obligations of the Revolving Credit Lender acting as Swing Line
Lender, may exceed the amount of such Lender’s Revolving Credit Commitment; provided,
however, that after giving effect to any Swing Line Loan, (i) the Total Revolving Credit
Outstandings shall not exceed the Aggregate Revolving Credit Commitments, (ii) the aggregate
Outstanding Amount of the Revolving Credit Loans of any Revolving Credit Lender, plus such
Revolving Credit Lender’s Pro Rata Share of the Outstanding Amount of all L/C Obligations,
plus such Revolving Credit Lender’s Pro Rata Share of the Outstanding Amount of all Swing
Line Loans shall not exceed such Revolving Credit Lender’s Revolving Credit Commitment and (iii)
the aggregate Unsecured Debt of the Borrower and the Consolidated Entities (including any requested
or pending Credit Extension) shall not exceed the amount permitted pursuant to Section
7.03(a)(ii) hereof, and provided, further, that the Borrower shall not use the
proceeds of any Swing Line Loan to refinance any outstanding Swing Line Loan. Within the foregoing
limits, and subject to the other terms and conditions hereof, the Borrower and Co-Borrowers may
borrow under this Section 2.04, prepay under Section 2.05, and reborrow under this
Section 2.04. Each Swing Line Loan shall be a Base Rate Loan. Immediately upon the making
of a Swing Line Loan, each Revolving Credit Lender shall be deemed to, and hereby irrevocably and
unconditionally agrees to, purchase from the Swing Line Lender a risk participation in such Swing
Line Loan in an amount equal to the product of such Revolving Credit Lender’s Pro Rata Share
times the amount of such Swing Line Loan.

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     (b) Borrowing Procedures. Each Swing Line Borrowing shall be made upon the
Borrower’s irrevocable notice to the Swing Line Lender and the Administrative Agent (on Borrower’s
own behalf or on behalf of a Co-Borrower), which may be given by telephone (provided that such
telephonic notice complies with the informational requirements of the form of Swing Line Loan
Notice attached hereto). Each such notice must be received by the Swing Line Lender and the
Administrative Agent not later than 3:00 p.m. on the requested borrowing date, and shall specify
(i) the amount to be borrowed, which shall be a minimum of $100,000, and (ii) the requested
borrowing date, which shall be a Business Day. Each such telephonic notice must be confirmed
promptly by delivery to the Swing Line Lender and the Administrative Agent of a written Swing Line
Loan Notice, appropriately completed and signed by a Responsible Officer of the Borrower. Promptly
after receipt by the Swing Line Lender of any telephonic Swing Line Loan Notice, the Swing Line
Lender will confirm with the Administrative Agent (by telephone or in writing) that the
Administrative Agent has also received such Swing Line Loan Notice and, if not, the Swing Line
Lender will notify the Administrative Agent (by telephone or in writing) of the contents thereof.
Unless the Swing Line Lender has received notice (by telephone or in writing) from the
Administrative Agent (including at the request of any Revolving Credit Lender) prior to 5:00 p.m.
on the date of the proposed Swing Line Borrowing (A) directing the Swing Line Lender not to make
such Swing Line Loan as a result of the limitations set forth in the proviso to the first sentence
of Section 2.04(a), or (B) that one or more of the applicable conditions specified in
Article IV is not then satisfied, then, subject to the terms and conditions hereof, the
Swing Line Lender will, not later than 5:00 p.m. on the borrowing date specified in such Swing Line
Loan Notice, make the amount of its Swing Line Loan available to the Borrower or the applicable
Co-Borrower.

     (c) Refinancing of Swing Line Loans.

     (i) The Swing Line Lender at any time five (5) or more Business Days after the making
of a Swing Line Loan and in its sole and absolute discretion may request, on behalf of the
Borrower or the applicable Co-Borrower (which hereby irrevocably authorizes the Swing Line
Lender to so request on its behalf), that each Revolving Credit Lender make a Base Rate Loan
in an amount equal to such Revolving Credit Lender’s Pro Rata Share of the amount of Swing
Line Loans then outstanding. Such request shall be made in writing (which written request
shall be deemed to be a Revolving Credit Loan Notice for purposes hereof) and in accordance
with the requirements of Section 2.02, without regard to the minimum and multiples
specified therein for the principal amount of Base Rate Loans, but subject to the unutilized
portion of the Revolving Credit Commitments and the conditions set forth in Section
4.02. The Swing Line Lender shall furnish the Borrower with a copy of the
applicable Revolving Credit Loan Notice promptly after delivering such notice to the
Administrative Agent. Each Revolving Credit Lender shall make an amount equal to its Pro
Rata Share of the amount specified in such Revolving Credit Loan Notice available to the
Administrative Agent in immediately available funds for the account of the Swing Line Lender
at the Administrative Agent’s Office not later than 1:00 p.m. on the day specified in such
Revolving Credit Loan Notice, whereupon, subject to Section 2.04(c)(ii), each
Revolving Credit Lender that so makes funds available shall be deemed to have made a
Revolving Credit Loan that is a Base Rate Loan to the Borrower or the applicable Co-Borrower
in

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such amount. The Administrative Agent shall remit the funds so received to the Swing
Line Lender.

     (ii) If for any reason any Swing Line Loan cannot be refinanced by such a Revolving
Credit Borrowing in accordance with Section 2.04(c)(i), the request for Base Rate
Loans submitted by the Swing Line Lender as set forth herein shall be deemed to be a request
by the Swing Line Lender that each of the Revolving Credit Lenders fund its risk
participation in the relevant Swing Line Loan and each Revolving Credit Lender’s payment to
the Administrative Agent for the account of the Swing Line Lender pursuant to Section
2.04(c)(i) shall be deemed payment in respect of such participation.

     (iii) If any Revolving Credit Lender fails to make available to the Administrative
Agent for the account of the Swing Line Lender any amount required to be paid by such
Revolving Credit Lender pursuant to the foregoing provisions of this Section 2.04(c)
by the time specified in Section 2.04(c)(i), the Swing Line Lender shall be entitled
to recover from such Revolving Credit Lender (acting through the Administrative Agent), on
demand, such amount with interest thereon for the period from the date such payment is
required to the date on which such payment is immediately available to the Swing Line Lender
at a rate per annum equal to the Federal Funds Rate from time to time in effect, plus any
administrative, processing or similar fees customarily charged by the Swing Line Lender in
connection with the foregoing. If such Revolving Credit Lender pays such amount (with
interest and fees as aforesaid), the amount so paid shall constitute such Revolving Credit
Lender’s Loan included in the relevant Borrowing or funded participation in the relevant
Swing Line Loan, as the case may be. A certificate of the Swing Line Lender submitted to
any Revolving Credit Lender (through the Administrative Agent) with respect to any amounts
owing under this clause (iii) shall be conclusive absent manifest error.

     (iv) Each Revolving Credit Lender’s obligation to make Revolving Credit Loans or to
purchase and fund risk participations in Swing Line Loans pursuant to this Section
2.04(c) shall be absolute and unconditional and shall not be affected by any
circumstance, including (A) any set-off, counterclaim, recoupment, defense or other right
which such Revolving Credit Lender may have against the Swing Line Lender, the Borrower, any
Co-Borrower or any other Person for any reason whatsoever, (B) the occurrence or continuance
of a Default, or (C) any other occurrence, event or condition, whether or not similar to any
of the foregoing; provided, however, that each Revolving Credit Lender’s
obligation to make Revolving Credit Loans pursuant to this Section 2.04(c) is
subject to the conditions set forth in Section 4.02. No such funding of risk
participations shall relieve or otherwise impair the obligation of the Borrower to repay
Swing Line Loans, together with interest as provided herein.

     (d) Repayment of Participations.

     (i) At any time after any Revolving Credit Lender has purchased and funded a risk
participation in a Swing Line Loan, if the Swing Line Lender receives any payment on account
of such Swing Line Loan, the Swing Line Lender will distribute to such

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Revolving Credit Lender its Pro Rata Share of such payment thereof in the same funds as
those received by the Swing Line Lender.

     (ii) If any payment received by the Swing Line Lender in respect of principal or
interest on any Swing Line Loan is required to be returned by the Swing Line Lender under
any of the circumstances described in Section 10.06 (including pursuant to any
settlement entered into by the Swing Line Lender in its discretion), each Revolving Credit
Lender shall pay to the Swing Line Lender its Pro Rata Share thereof on demand of the
Administrative Agent, plus interest thereon from the date of such demand to the date such
amount is returned, at a rate per annum equal to the Federal Funds Rate. The Administrative
Agent will make such demand upon the request of the Swing Line Lender.

     (e) Interest for Account of Swing Line Lender. The Swing Line Lender shall be
responsible for invoicing the Borrower for interest on the Swing Line Loans. Until each Revolving
Credit Lender funds its Base Rate Loan or risk participation pursuant to this Section 2.04
to refinance such Revolving Credit Lender’s Pro Rata Share of any Swing Line Loan, interest in
respect of such Pro Rata Share shall be solely for the account of the Swing Line Lender.

     (f) Payments Directly to Swing Line Lender. The Borrower shall (on its own behalf or
on behalf of the applicable Co-Borrower(s)) or the applicable Co-Borrower may make all payments of
principal and interest in respect of the Swing Line Loans directly to the Swing Line Lender.

     (g) Swing Line Loans to Co-Borrowers. Any Swing Line Loan Notice identifying a
Co-Borrower as the party to whom the applicable Swing Line Loan should be directed may designate
such Co-Borrower as the “primary obligor” with respect to such Swing Line Loan and amounts payable
with respect thereto. Such designation, however, shall not prevent the Borrower, each other
Co-Borrower and each Guarantor hereunder from remaining liable for the full and final repayment of
such Swing Line Loan and such other amounts and for the full and final repayment of the Obligations
as required pursuant to the terms hereof and the Borrower, each Co-Borrower and each Guarantor
hereby acknowledges and agrees that each of them shall be and shall remain liable for the full and
final repayment of each Swing Line Loan made pursuant to the terms hereof in accordance with this
Agreement, regardless of the party to whom such Swing Line Loan is funded and regardless of whether
a specific party is designated as the “primary obligor” with respect thereto.

     2.05 Prepayments.

     (a) The Borrower (and the Co-Borrowers) shall be permitted to prepay the Loans in accordance
with the following terms and conditions:

     (i) The Borrower (on its own behalf or on behalf of the applicable Co-Borrower(s)) or
the applicable Co-Borrower may, upon notice to the Administrative Agent, at any time or from
time to time (A) voluntarily prepay Base Rate Loans in whole

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or in part without premium or
penalty and (B) voluntarily prepay Eurodollar Rate Loans in
whole or in part on the last day of the applicable Interest Period without premium
or penalty; provided that (1) such notice must be received by the Administrative
Agent not later than 1:00 p.m. (A) one (1) Business Day prior to any date of prepayment of
Eurodollar Rate Loans and (B) on the date of prepayment of Base Rate Loans; (2) any
prepayment of Eurodollar Rate Loans shall be in a principal amount of $1,000,000 or a whole
multiple of $100,000 in excess thereof; and (3) any prepayment of Base Rate Loans shall be
in a principal amount of $500,000 or a whole multiple of $100,000 in excess thereof or, in
each case, if less, the entire principal amount thereof then outstanding. Each such notice
shall specify the date and amount of such prepayment and the Type(s) of Loans to be prepaid
and whether the Loans to be prepaid are Term Loans or Revolving Credit Loans (or any
applicable combination thereof) (and in the absence of any designation in such notice as to
which Facility to prepay, prepayment amounts shall be applied to Revolving Credit Loans).

     (ii) The Borrower (on its own behalf or on behalf of the applicable Co-Borrower(s)) or
the applicable Co-Borrower may voluntarily prepay Eurodollar Rate Loans in whole or in part
on any date other than the last day of the Interest Period applicable thereto without
premium; provided that the Borrower shall deliver to the Administrative Agent a
timely notice of prepayment in accordance with clause (a) above and pay any “breakage”
charges and increased costs or charges incurred by the Lenders as the result of such
prepayment pursuant to Section 3.05.

In the case of any prepayment made or to be made in connection with subclauses (i) or (ii) above:
(A) the Administrative Agent will promptly notify each Appropriate Lender of its receipt of each
such notice with respect thereto, and of the amount of such Lender’s Pro Rata Share of such
proposed prepayment; (B) if such notice is given by the Borrower (whether on its own behalf or on
behalf of any Co-Borrower) or the applicable Co-Borrower, the Borrower (on its own behalf or on
behalf of the applicable Co-Borrower(s)) or the applicable Co-Borrower shall make such prepayment
and the payment amount specified in such notice shall be due and payable on the date specified
therein; (C) any prepayment of a Eurodollar Rate Loan shall be accompanied by all accrued interest
thereon, together with any additional amounts required pursuant to Section 3.05; and (D)
each such prepayment shall be applied to the applicable Loans of the Lenders in accordance with
their respective Pro Rata Shares. The failure of the Borrower or the applicable Co-Borrower to
make a prepayment hereunder following the delivery of a notice of a pending prepayment pursuant to
the provisions contained in this clause (a) shall not constitute a Default or Event of Default
hereunder; provided, however, that the Administrative Agent shall not be required to accept any
prepayment offered by the Borrower or the applicable Co-Borrower hereunder unless timely notice
thereof has been given in accordance with (and to the extent required by) this clause (a) and
Borrower’s or the applicable Co-Borrower’s prepayment is accompanied by any “breakage” charges and
all other increased costs or charges incurred by the Lenders as the result of such prepayment.

     (b) The Borrower (on its own behalf or on behalf of the applicable Co-Borrower(s)) or the
applicable Co-Borrower may, upon notice to the Swing Line Lender (with a copy to the Administrative
Agent), at any time or from time to time, voluntarily prepay Swing Line Loans in

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whole or in part without premium or penalty; provided that (i) such notice must be received by
the Swing Line Lender and the Administrative Agent not later than 1:00 p.m. on the date of the
prepayment, and (ii) any such prepayment shall be in a minimum principal amount of $100,000. Each
such notice shall specify the date and amount of such prepayment. If such notice is given by the
Borrower (whether on its own behalf or on behalf of any Co-Borrower) or the applicable Co-Borrower,
the Borrower (on its own behalf or on behalf of the applicable Co-Borrower(s)) or the applicable
Co-Borrower shall make such prepayment and the payment amount specified in such notice shall be due
and payable on the date specified therein. The failure of the Borrower or the applicable
Co-Borrower to make a prepayment hereunder following the delivery of a notice of a pending
prepayment pursuant to the provisions contained in this clause (b) shall not constitute a Default
or Event of Default hereunder; provided, however, that the Administrative Agent
shall not be required to accept any prepayment offered by the Borrower or the applicable
Co-Borrower hereunder unless timely notice thereof has been given in accordance with (and to the
extent required by) this clause (b).

     (c) If for any reason the Total Revolving Credit Outstandings at any time exceed the Revolving
Credit Commitments then in effect or the aggregate Unsecured Debt of the Borrower and the
Consolidated Entities (including any requested or pending Credit Extension) exceeds the amount
permitted pursuant to Section 7.03(a)(ii) hereof, the Borrower or the applicable
Co-Borrower shall (on its own behalf or on behalf of the applicable Co-Borrower(s)) immediately
prepay Term Loans, Revolving Credit Loans and/or Cash Collateralize the L/C Obligations in an
aggregate amount equal to such excess, as applicable; provided, however, that the
Borrower shall not be required to Cash Collateralize the L/C Obligations pursuant to this
Section 2.05(c) unless after the prepayment in full of the Revolving Credit Loans and Swing
Line Loans the Total Revolving Credit Outstandings exceed the Aggregate Revolving Credit
Commitments then in effect.

     2.06 Termination or Reduction of Revolving Credit Commitments; Increase of Facilities.

     (a) Voluntary Terminations or Reductions. The Borrower may (as representative for all
Borrower Parties), upon notice to the Administrative Agent, terminate the Revolving Credit
Commitments, or from time to time permanently and irrevocably reduce the Revolving Credit
Commitments; provided that (i) any such notice shall be received by the Administrative
Agent not later than 11:00 a.m. three (3) Business Days prior to the date of termination or
reduction, (ii) any such partial reduction shall be in an aggregate amount of $5,000,000 or any
whole multiple of $1,000,000 in excess thereof, (iii) the Borrower shall not terminate or reduce
the Revolving Credit Commitments if, after giving effect thereto and to any concurrent prepayments
hereunder, the Total Revolving Credit Outstandings would exceed the Aggregate Revolving Credit
Commitments, (iv) any reduction of the Aggregate Revolving Credit Commitments to an amount below
$500,000,000 shall result in a reduction of the Swing Line Sublimit by a percentage equal to the
percentage reduction in the Aggregate Revolving Credit Commitments below $500,000,000 and (v) the
Letter of Credit Sublimit shall be automatically reduced in accordance with the definition thereof
concurrently with any reduction in the Aggregate Revolving Credit Commitments. Any reduction of
the Aggregate Revolving Credit Commitments shall be applied to the Revolving Credit Commitment of
each Revolving Credit Lender according to its Pro Rata

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Share. All fees accrued until the effective date of any termination of the Aggregate Revolving
Credit Commitments shall be paid on the effective date of such termination. Notwithstanding
anything contained herein to the contrary, Borrower shall not be permitted to request a reduction
in the Aggregate Revolving Credit Commitments pursuant to this Section 2.06 more than two
(2) times during any twelve (12) month period.

     (b) Voluntary Increases in the Facilities. Following the Closing Date, the Revolving
Credit Commitments and the principal amount of the Term Facility may be increased by an aggregate
amount of up to $100,000,000.00 (such that the Aggregate Revolving Credit Commitments plus the
aggregate principal amount of any increased Term Facility would total an amount that does not
exceed $700,000,000.00) if:

     (i) the Borrower, from time to time, on or before the date occurring thirty-six (36)
calendar months following the Closing Date, requests an increase in the Revolving Credit
Commitments, the Term Facility, or a combination thereof, in writing to the Administrative
Agent (such requested total increase to be in an amount of $100,000,000.00 or less);

     (ii) the Arranger is able, within ninety (90) days of receiving an increase request
pursuant to subclause (i) above, to syndicate the amount of such increase on a best efforts
basis (A) to one or more Lenders or one or more financial institutions qualifying as an
Eligible Assignee and otherwise acceptable to the Borrower, Administrative Agent and
Arranger and (B) in a manner otherwise in accordance with the terms and conditions set forth
in any written agreement among the Borrower and the Arranger relating to such increase;

     (iii) such increase does not increase the amount of the Commitment of any Lender
without the written consent of such Lender;

     (iv) the Borrower executes new Notes reflecting the increase in the Revolving Credit
Commitments and/or the Term Facility, as the case may be, the Co-Borrowers execute any new
Notes requested by the Lenders (such new Co-Borrower Notes to be held by the Administrative
Agent in accordance with the terms of Section 2.11(b)) and any additional documents,
instruments or agreements deemed reasonably necessary in connection therewith by the
Administrative Agent, and the Borrower and/or the Co-Borrowers execute such other amendments
to the Loan Documents as are deemed reasonably necessary by the Administrative Agent;

     (v) no Event of Default exists as of the date of such request and no Default or Event
of Default exists as of the date on which such increase is to occur; and

     (vi) the Borrower pays (A) to the Arranger, the Accordion Arrangement Fee required by
Paragraph 1 of the Fee Letter among the Borrower and Arranger in connection with such
increase in the Facilities, (B) to the Arranger for the account of Lenders participating in
the increase of the Facilities, upfront fees in the amount set forth in Paragraph 2 of the
Fee Letter for the Revolving Credit Facility and the Term Facility

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(it being understood that
increases in the Revolving Credit Facility are “New Money” for purposes of Paragraph 2 of
the Fee Letter), and (C) all reasonable costs and expenses
(including Attorney Costs) incurred by the Administrative Agent in documenting or
implementing such increase regardless of whether the Arrangers are able to syndicate the
amount of the requested increase; provided, however, that the Borrower shall
not pay any fees for increased amounts until such time as the increase occurs.

     After such increase, all of the terms and conditions of the Loan Documents shall apply to the
increased amount of the Facilities as if such amount were in effect as of the date hereof. Each
Lender that may be a party hereto from time to time hereby acknowledges that the Facilities may be
increased pursuant to this Section 2.06(b) regardless of whether such Lender approves such
increase or increases its Commitment hereunder; provided, that Arrangers hereby agree to
offer to each existing Lender, on terms and conditions similar to those being offered to other
prospective lenders, a portion of any increase in the Facilities equal to such Lender’s Pro Rata
Share of the applicable Facilities immediately prior to such increase.

     (c) General. The Administrative Agent will promptly notify the Lenders of any such
notice of termination, reduction or increase of the Facilities. To the extent the one or both of
the Facilities are increased pursuant to clause (b) above, all Lenders (including both
previously-existing and new Lenders) shall receive new Notes reflecting their respective Pro Rata
Share of the Facilities and new Lenders shall, to the extent necessary to cause the outstanding
principal amount of the Loans and other Obligations allocable to each Lender to equal each such
Lender’s Pro Rata Share, fund Loans directly to the other Lenders, as directed by the
Administrative Agent. Upon the request of any Lender made through the Administrative Agent, the
Borrower Parties hereby agree to execute and deliver any new Notes required pursuant to this
Section 2.06 to evidence the Loans made by the Lenders (provided any Notes being replaced
are either returned, cancelled or marked as replaced and provided, that any Notes delivered by the
respective Co-Borrowers shall be held by the Administrative Agent pursuant to the terms of
Section 2.11(b) hereof) and acknowledges, consents and agrees to the funding by any new
Lenders of Loans pursuant to the previous sentence for the purpose of causing the Outstanding
Amount of such Loans to equal each Lender’s Pro Rata Share.

     2.07 Repayment of Loans.

     (a) The Borrower Parties shall repay to the Administrative Agent for the benefit of the Term
Lenders on the Maturity Date for the Term Facility, the aggregate principal amount of Term Loans
outstanding on such date.

     (b) The Borrower Parties shall repay to the Administrative Agent for the benefit of the
Revolving Credit Lenders on the Maturity Date for the Revolving Credit Facility, the aggregate
principal amount of all Revolving Credit Loans outstanding on such date.

     (c) The Borrower Parties shall repay each Swing Line Loan on the earlier to occur of (i) the
date five (5) Business Days after such Loan is made and (ii) the Maturity Date for the Revolving
Credit Facility.

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     2.08 Interest.

     (a) Subject to the provisions of subsection (b) below, (i) each Eurodollar Rate Loan under
each Facility shall bear interest on the outstanding principal amount thereof for each Interest
Period at a rate per annum equal to the Eurodollar Rate for such Interest Period plus the
Applicable Rate for such Facility; (ii) each Base Rate Loan under each Facility (other than Swing
Line Loans) shall bear interest on the outstanding principal amount thereof from the applicable
borrowing date at a rate per annum equal to the Base Rate plus the Applicable Rate for such
Facility; and (iii) each Swing Line Loan shall bear interest on the outstanding principal amount
thereof from the applicable borrowing date at a rate per annum equal to the Base Rate plus the
Applicable Rate for the Revolving Credit Facility less 1.00%.

     (b) (i) If any amount of principal of any Loan is not paid when due (without regard to any
applicable grace periods), whether at stated maturity, by acceleration or otherwise, such amount
shall thereafter bear interest at a fluctuating interest rate per annum at all times equal to the
Default Rate to the fullest extent permitted by applicable Laws (until such time as such payment is
made and all Events of Default existing under the Agreement are cured, at which point the Default
Rate shall no longer be applied).

     (ii) If any amount (other than principal of any Loan) payable by any Borrower Party
under any Loan Document is not paid by the date on which such failure to pay constitutes an
Event of Default hereunder (whether as a result of the stated maturity of any Obligations,
by acceleration or otherwise), then, unless otherwise agreed to by the Required Lenders,
such amount shall thereafter bear interest at a fluctuating interest rate per annum at all
times equal to the Default Rate to the fullest extent permitted by applicable Laws (until
such time as all Events of Default existing under the Agreement are cured, at which point
the Default Rate shall no longer be applied).

     (iii) Upon the request of the Required Lenders, while any Event of Default exists, the
Borrower Parties shall pay interest on the principal amount of all outstanding Obligations
hereunder from the date of such Event of Default at a fluctuating interest rate per annum at
all times equal to the Default Rate to the fullest extent permitted by applicable Laws
(until such time as all Events of Default existing under the Agreement are cured, at which
point the Default Rate shall no longer be applied).

     (iv) Accrued and unpaid interest on past due amounts (including interest on past due
interest) shall be due and payable upon demand.

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

     (d) The parties hereto hereby agree and stipulate that the only charge imposed upon the
Borrower Parties for the use of money in connection with this Agreement is and shall be the

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interest specifically described in Section 2.03(c)(iii) and Sections 2.08(a) and
(b). Notwithstanding the foregoing, the parties hereto further agree and stipulate that
all amounts paid or due pursuant to Article III hereof and all fees provided for in Section
2.09 and all other agency fees, syndication fees, arrangement fees, amendment fees, up-front fees, commitment fees,
facility fees, unused fee, closing fees, letter of credit fees, underwriting fees, default charges,
late charges, funding or “breakage” charges, increased cost charges, attorneys’ fees and
reimbursement for costs and expenses paid by the Administrative Agent or any Lender to third
parties or for damages incurred by the Administrative Agent or any Lender or any other similar
amounts or charges made to compensate the Administrative Agent or any such Lender for underwriting
or administrative services and costs or losses performed or incurred, and to be performed or
incurred by the Administrative Agent and/or the Lenders in connection with this Agreement and shall
under no circumstances be deemed to be charges for the use of money. Any use by any Borrower Party
of certificates of deposit issued by any Lender or other accounts maintained with any Lender has
been and shall be voluntary on the part of such Borrower Party. All charges other than charges for
the use of money shall be fully earned and nonrefundable when due.

     2.09 Fees. In addition to certain fees described in subsections (i) and (j) of Section
2.03:

     (a) Unused Fee. In consideration of the Revolving Credit Commitments of the Revolving
Credit Lenders hereunder, the Borrower Parties shall pay to the Administrative Agent (for the
benefit of the Revolving Credit Lenders) a daily fee in connection with the unused amount of the
Aggregate Revolving Credit Commitments (the “Unused Fee”). The Unused Fee shall be payable
as of the first day of each calendar quarter and as of the Maturity Date for the Revolving Credit
Facility in arrears in an amount equal to the sum of the Daily Unused Fees accrued during the
applicable calendar quarter period (or portion thereof). All Unused Fees shall be fully earned
when paid and shall not be refundable for any reason whatsoever. The Unused Fee shall commence to
accrue on the Closing Date.

     (b) Other Fees. The Borrower shall, without duplication, pay to the Arranger and the
Administrative Agent for their own respective accounts fees described in Paragraphs 1-3 of the Fee
Letter in the amounts and at the times specified in the Fee Letter. Bank of America shall pay to
the Lenders the fees specified in Paragraph 2 of the Fee Letter. Such fees shall be fully earned
when paid and shall not be refundable for any reason whatsoever.

     2.10 Computation of Interest and Fees; Retroactive Adjustments of Applicable Rates. (a) All
computations of fees and interest shall be made on the basis of a 360-day year and actual days
elapsed (which results in more fees or interest, as applicable, being paid than if computed on the
basis of a 365-day year). Interest shall accrue on each Loan for the day on which the Loan is
made, and shall not accrue on a Loan, or any portion thereof, for the day on which the Loan or such
portion is paid, provided that any Loan that is repaid on the same day on which it is made
shall, subject to Section 2.12(a), bear interest for one day.

     (b) If, as a result of any restatement of or other adjustment to the financial statements of
the Borrower or for any other reason (i) the Consolidated Leverage Ratio as calculated by the

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Borrower as of any applicable date was inaccurate and (ii) a proper calculation of the Consolidated
Leverage Ratio would have resulted in higher pricing for such period, the Borrower shall within
five (5) Business Days and retroactively be obligated to pay to the Administrative
Agent for the account of the applicable Lenders, promptly on demand by the Administrative
Agent (or, after the occurrence of an actual or deemed entry of an order for relief with respect to
the Borrower under the Bankruptcy Code of the United States, automatically and without further
action by the Administrative Agent, any Lender or the L/C Issuer), an amount equal to the excess of
the amount of interest and fees that should have been paid for such period over the amount of
interest and fees actually paid for such period (after giving credit to any confirmed overpayments
for prior periods determined in such restatement). This paragraph shall not limit the rights of
the Administrative Agent, any Lender or the L/C Issuer, as the case may be, under Section
2.03(c)(iii), 2.03(i) or 2.08 or under Article VIII. The Borrower’s obligations under
this paragraph shall survive termination of the Commitments and the repayment of all other
Obligations hereunder for a period of two (2) years from the date of termination of the Commitments
and the repayment of all the Obligations hereunder.

     2.11 Evidence of Debt.

     (a) The Credit Extensions made by each Lender shall be evidenced by one or more accounts or
records maintained by such Lender and by the Administrative Agent in the ordinary course of
business. The accounts or records maintained by the Administrative Agent and each Lender shall be
conclusive absent manifest error of the amount of the Credit Extensions made by the Lenders to the
Borrower Parties and the interest and payments thereon. Any failure to so record or any error in
doing so shall not, however, limit or otherwise affect the obligation of the Borrower Parties
hereunder to pay any amount owing with respect to the Obligations. In the event of any conflict
between the accounts and records maintained by any Lender and the accounts and records of the
Administrative Agent in respect of such matters, the accounts and records of the Administrative
Agent shall control in the absence of manifest error. Upon the request of any Lender made through
the Administrative Agent, each of the Borrower Parties shall execute and deliver to such Lender
(through the Administrative Agent) a Term Note or a Revolving Credit Note, as applicable, which
shall evidence such Lender’s Loans in addition to such accounts or records; provided, that
the Lenders hereby agree that the Administrative Agent shall be permitted to hold for their benefit
each Revolving Credit Note and each Term Note executed and delivered by the Co-Borrowers hereunder
except to the extent that a Lender has specifically requested in writing that any such Note be
delivered to it. The Administrative Agent or each Lender (as applicable) may attach schedules to
its Note and endorse thereon the date, Type (if applicable), amount and maturity of its Loans and
payments with respect thereto.

     (b) In addition to the accounts and records referred to in subsection (a), each Revolving
Credit Lender and the Administrative Agent shall maintain in accordance with its usual practice
accounts or records evidencing the purchases and sales by such Revolving Credit Lender of
participations in Letters of Credit and Swing Line Loans. In the event of any conflict between the
accounts and records maintained by the Administrative Agent and the accounts and records of any
Revolving Credit Lender in respect of such matters, the accounts and records of the Administrative
Agent shall control in the absence of manifest error.

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     2.12 Payments Generally.

     (a) All payments to be made by any of the Borrower Parties shall be made without condition or
deduction for any counterclaim, defense, recoupment or setoff. Except as otherwise expressly
provided herein, all payments by any Borrower Party hereunder shall be made to the Administrative
Agent, for the account of the respective Lenders to which such payment is owed, at the
Administrative Agent’s Office in Dollars and in immediately available funds not later than 2:00
p.m. on the date specified herein. The Administrative Agent will promptly distribute to each
Lender its Pro Rata Share (or other applicable share as provided herein) of such payment in like
funds as received by wire transfer to such Lender’s Lending Office. All payments received by the
Administrative Agent after 2:00 p.m. shall be deemed received on the next succeeding Business Day
and any applicable interest or fee shall continue to accrue.

     (b) If any payment to be made by any Borrower Party shall come due on a day other than a
Business Day, payment shall be made on the next following Business Day, and such extension of time
shall be reflected in computing interest or fees, as the case may be.

     (c) Unless the Borrower or any Lender has notified the Administrative Agent, prior to the date
any payment is required to be made by it to the Administrative Agent hereunder, that the applicable
Borrower Party(ies) or such Lender, as the case may be, will not make such payment, the
Administrative Agent may assume that the applicable Borrower Party(ies) or such Lender, as the case
may be, has timely made such payment and may (but shall not be so required to), in reliance
thereon, make available a corresponding amount to the Person entitled thereto. If and to the
extent that such payment was not in fact made to the Administrative Agent in immediately available
funds, then:

     (i) if any Borrower Party failed to make such payment, each Lender shall forthwith on
demand repay to the Administrative Agent the portion of such assumed payment that was made
available to such Lender in immediately available funds, together with interest thereon in
respect of each day from and including the date such amount was made available by the
Administrative Agent to such Lender to the date such amount is repaid to the Administrative
Agent in immediately available funds at the Federal Funds Rate from time to time in effect;
and

     (ii) if any Lender failed to make such payment, such Lender shall forthwith on demand
pay to the Administrative Agent the amount thereof in immediately available funds, together
with interest thereon for the period from the date such amount was made available by the
Administrative Agent to any Borrower Party to the date such amount is recovered by the
Administrative Agent (the “Compensation Period”) at a rate per annum equal to the
Federal Funds Rate from time to time in effect, plus any administrative, processing or
similar fees customarily charged by the Administrative Agent in connection with the
foregoing. If such Lender pays such amount to the Administrative Agent, then such amount
shall constitute such Lender’s Loan included in the applicable Borrowing. If such Lender
does not pay such amount forthwith upon the Administrative Agent’s demand therefor, the
Administrative Agent may make a demand therefor upon the Borrower Parties, and the Borrower
Parties shall pay such amount to the Administrative

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Agent, together with interest thereon (including any applicable “breakage” charges
related thereto) for the Compensation Period at a rate per annum equal to the rate of
interest applicable to the applicable Borrowing. Nothing herein shall be deemed to relieve
any Lender from its obligation to fulfill its Commitment or to prejudice any rights which
the Administrative Agent or the Borrower Parties may have against any Lender as a result of
any default by such Lender hereunder.

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

     (d) If any Lender makes available to the Administrative Agent funds for any Loan to be made by
such Lender as provided in the foregoing provisions of this Article II, and such funds are
not made available to the Borrower Parties by the Administrative Agent because the conditions to
the applicable Credit Extension set forth in Article IV are not satisfied or waived in
accordance with the terms hereof, the Administrative Agent shall return such funds (in like funds
as received from such Lender) to such Lender, without interest.

     (e) The obligations of the Lenders hereunder to make Term Loans and Revolving Credit Loans and
to fund participations in Letters of Credit and Swing Line Loans are several and not joint. The
failure of any Lender to make any Loan or to fund any such participation on any date required
hereunder shall not relieve any other Lender of its corresponding obligation to do so on such date,
and no Lender shall be responsible for the failure of any other Lender to so make its Loan or
purchase its participation.

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

     2.13 Sharing of Payments. If, other than as expressly provided elsewhere herein, any Lender
shall obtain on account of the Loans made by it, or the participations in L/C Obligations or in
Swing Line Loans held by it, any payment (whether voluntary, involuntary, through the exercise of
any right of set-off, or otherwise) in excess of its ratable share (or other share contemplated
hereunder) thereof, such Lender shall immediately (a) notify the Administrative Agent of such fact,
and (b) purchase from the other Lenders such participations in the Loans made by them and/or such
subparticipations in the participations in L/C Obligations or Swing Line Loans held by them, as the
case may be, as shall be necessary to cause such purchasing Lender to share the excess payment in
respect of such Loans or such participations, as the case may be, pro rata with each of them;
provided, however, that if all or any portion of such excess payment is thereafter
recovered from the purchasing Lender under any of the circumstances described in Section
10.06 (including pursuant to any settlement entered into by the purchasing Lender in its
discretion), such purchase shall to that extent be rescinded and each other Lender shall repay to
the purchasing Lender the purchase price paid therefor, together with an amount equal to such
paying Lender’s ratable share (according to the proportion of (i) the amount of such paying
Lender’s required repayment to (ii) the total amount so recovered from the purchasing Lender) of
any interest or other amount paid or payable by the purchasing Lender in respect of the total
amount so recovered, without further interest thereon. Each of the Borrower

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Parties from time to time party hereto hereby agrees that any Lender so purchasing a
participation from another Lender may, to the fullest extent permitted by law, exercise all its
rights of payment (including the right of set-off, but subject to Section 10.09) with
respect to such participation as fully as if such Lender were the direct creditor of the Borrower
in the amount of such participation. The Administrative Agent will keep records (which shall be
conclusive and binding in the absence of manifest error) of participations purchased under this
Section and will in each case notify the Lenders following any such purchases or repayments. Each
Lender that purchases a participation pursuant to this Section shall from and after such purchase
have the right to give all notices, requests, demands, directions and other communications under
this Agreement with respect to the portion of the Obligations purchased to the same extent as
though the purchasing Lender were the original owner of the Obligations purchased.

     2.14 Maturity Date.

     (a) Maturity Date. (i) Subject to the provisions of clause (c) of this Section
2.14, the Borrower Parties shall, on the Maturity Date for the Term Facility, cause the
Obligations in respect of the Term Facility (including, without limitation, all outstanding
principal and interest on the Term Loans and all fees, costs and expenses due and owing under the
Loan Documents in respect of the Term Facility) to be Fully Satisfied.

     (ii) Subject to extension pursuant to the terms and conditions set forth in clause (b)
of this Section 2.14 and subject to the provisions of clause (c) of this Section
2.14, the Borrower Parties shall, on August 29, 2011 (the “Initial Maturity
Date”), cause the Obligations in respect of the Revolving Credit Facility (including,
without limitation, all outstanding principal and interest on the Revolving Credit Loans and
Swing Line Loans and all fees, costs and expenses due and owing under the Loan Documents in
respect of the Revolving Credit Facility) to be Fully Satisfied.

     (b) Extended Maturity Date Option for the Revolving Credit Facility. Not more than
180 days and not less than 60 days prior to the Initial Maturity Date, the Borrower may (on behalf
of all then-existing Borrower Parties) request in writing that the Revolving Credit Lenders extend
the term of this Agreement in respect of the Revolving Credit Facility to August 29, 2012 (the
“Extended Maturity Date”). Such extension option shall be subject to the satisfaction of
the following requirements:

     (i) at the Initial Maturity Date, there shall not exist any Default or Event of Default
by the Borrower or any other Loan Party; and

     (ii) the Borrower Parties shall, at the Initial Maturity Date, deliver to the
Administrative Agent (for the pro rata benefit of the Revolving Credit Lenders based on
their respective Revolving Credit Commitments) an extension fee equal to twelve and one-half
of one hundredths of one percent (0.125%) of the then-existing Aggregate Revolving Credit
Commitments (whether funded or unfunded).

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     (c) Satisfaction of Obligations Upon Acceleration. Notwithstanding anything contained
herein or in any other agreement to the contrary, to the extent any of the Obligations
are accelerated pursuant to the terms hereof (including, without limitation, Section
8.02 hereof), the Borrower Parties shall, immediately upon the occurrence of such acceleration,
cause such accelerated Obligations to be Fully Satisfied.

     2.15 Joint and Several Liability of Borrower Parties.

     (a) Each of the Borrower Parties is accepting joint and several liability hereunder in
consideration of the financial accommodation to be provided by the Revolving Credit Lenders and the
Term Lenders under this Agreement, for the mutual benefit, directly and indirectly, of each of the
Borrower Parties and in consideration of the undertakings of each of the Borrower Parties to accept
joint and several liability for the obligations of each of them under the Loan Documents.

     (b) Each of the Borrower Parties jointly and severally hereby irrevocably and unconditionally
accepts, not merely as a surety but also as a co-debtor, joint and several liability with the other
Borrower Parties with respect to the payment and performance of all of the Obligations as to which
there is a Co-Borrower it being the intention of the parties hereto that all of the Obligations as
to which there is a Co-Borrower shall be the joint and several obligations of each of the Borrower
Parties without preferences or distinction among them.

     (c) If and to the extent that any of the Borrower Parties shall fail to make any payment with
respect to any of the Obligations as to which there is a Co-Borrower hereunder as and when due
after the expiration of all applicable grace or cure periods or to perform any of such Obligations
in accordance with the terms thereof, then in each such event, the other Borrower Parties will make
such payment with respect to, or perform, such Obligation.

     (d) The obligations of each Borrower Party under the provisions of this Section 2.15
constitute full recourse obligations of such Borrower Party, enforceable against it to the full
extent of its properties and assets.

     (e) Except as otherwise expressly provided herein, each Co-Borrower hereby waives notice of
acceptance of its joint and several liability, notice of occurrence of any Default or Event of
Default (except to the extent notice is expressly required to be given pursuant to the terms of
this Agreement), or of any demand for any payment under this Agreement, notice of any action at any
time taken or omitted by the Administrative Agent or any Lender under or in respect of any of the
Obligations hereunder, any requirement of diligence and, generally, all demands, notices and other
formalities of every kind in connection with this Agreement. Each Co-Borrower hereby assents to,
and waives notice of, any extension or postponement of the time for the payment of any of the
Obligations hereunder, the acceptance of any partial payment thereon, any waiver, consent or other
action or acquiescence by the Administrative Agent and/or Lenders at any time or times in respect
of any default by any Borrower Party in the performance or satisfaction of any term, covenant,
condition or provision of this Agreement, any and all other indulgences whatsoever by the
Administrative Agent and/or Lenders in respect of any of the Obligations hereunder, and the taking,
addition, substitution or release, in whole or in part, at any

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time or times, of any security for any of such Obligations or the addition, substitution or release, in whole or in part, of any
Borrower Party. Without limiting the generality of the foregoing, each Co-Borrower assents to any
other action or delay in acting or any failure to act on the part
of the Administrative Agent or any Lender, including, without limitation, any failure strictly
or diligently to assert any right or to pursue any remedy or to comply fully with applicable laws
or regulations thereunder which might, but for the provisions of this Section 2.15, afford
grounds for terminating, discharging or relieving such Co-Borrower, in whole or in part, from any
of its obligations under this Section 2.15, it being the intention of each Co-Borrower
that, so long as any of the Obligations hereunder remain unsatisfied, the obligations of such
Co-Borrower under this Section 2.15 shall not be discharged except by performance and then
only to the extent of such performance. The obligations of each Co-Borrower under this Section
2.15 shall not be diminished or rendered unenforceable by any winding up, reorganization,
arrangement, liquidation, reconstruction or similar proceeding with respect to any Borrower Party,
the Administrative Agent or any Lender. The joint and several liability of the Borrower Parties
hereunder shall continue in full force and effect notwithstanding any absorption, merger,
amalgamation or any other change whatsoever in the name, membership, constitution or place of
formation of any Borrower Party, the Administrative Agent or any Lender.

     (f) The provisions of this Section 2.15 are made for the benefit of the Administrative
Agent and the Lenders and their respective successors and assigns, and may be enforced by any such
Person from time to time against any of the Borrower Parties as often as occasion therefor may
arise and without requirement on the part of the Administrative Agent or any Lender first to
marshal any of its claims or to exercise any of its rights against any of the other Borrower
Parties or to exhaust any remedies available to it against any of the other Borrower Parties or to
resort to any other source or means of obtaining payment of any of the Obligations, or to elect any
other remedy. The provisions of this Section 2.15 shall remain in effect until all the
Obligations hereunder shall have been paid in full or otherwise Fully Satisfied. If at any time,
any payment, or any part thereof, made in respect of any of the Obligations is rescinded or must
otherwise be restored or returned by the Administrative Agent and/or Lenders upon the insolvency,
bankruptcy or reorganization of any of the Borrower Parties, or otherwise, the provisions of this
Section 2.15 will forthwith be reinstated and in effect as though such payment had not been
made.

     (g) Notwithstanding any provision to the contrary contained herein or in any other of the Loan
Documents, the obligations of each Borrower Party hereunder shall be limited to an aggregate amount
equal to the largest amount that would not render its obligations hereunder subject to avoidance
under Section 548 of the Bankruptcy Code or any comparable provisions of any applicable state law.

     (h) The Borrower, each Co-Borrower and each Guarantor (as applicable) shall have a right of
contribution against any Co-Borrower designated as a “primary obligor” with respect to any portion
of the Obligations to the extent the Borrower, any such Co-Borrower or Guarantor pays any portion
of such Obligations; provided, that the Borrower, Co-Borrowers and Guarantors shall have no such
right of contribution or any right of subrogation, indemnity or reimbursement against the
applicable Co-Borrower for amounts paid in connection with this Section 2.15(h) until such
time as all of the Obligations have been Fully Satisfied.

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     2.16 Appointment of Borrower as Agent for Borrower Parties. Each Borrower Party hereby
appoints the Borrower to act as its exclusive agent for all purposes under
this Agreement and the other Loan Documents (including, without limitation, with respect to
all matters related to the borrowing and repayment of loans as described in Articles II and
III hereof). Each Borrower Party (in such capacity) acknowledges and agrees that (a) the
Borrower may execute such documents on behalf of all the Borrower Parties as the Borrower deems
appropriate in its sole discretion and each Borrower Party (in such capacity) shall be bound by and
obligated by all of the terms of any such document executed by the Borrower on its behalf, (b) any
notice or other communication delivered by the Administrative Agent or any Lender hereunder to the
Borrower shall be deemed to have been delivered to each Borrower Party and (c) the Administrative
Agent and each of the Lenders shall accept (and shall be permitted to rely on) any document or
agreement executed by the Borrower on behalf of the Borrower Parties (or any of them). Except as
noted herein with respect to requests for Borrowings or the making of payments, the Borrower
Parties must act through the Borrower for all purposes under this Agreement and the other Loan
Documents. Notwithstanding anything contained herein (except as noted herein with respect to
requests for Borrowings or the making of payments), to the extent any provision in this Agreement
requires any Borrower Party to interact in any manner with the Administrative Agent or the Lenders
(other than through such Borrower Party’s execution and delivery of certain documents, agreements
or instruments), such Borrower Party shall do so through the Borrower.

     2.17 Tax Driven Lease Transactions. Subject to the Loan Parties’ compliance with Section
7.14 of this Agreement, the Lenders agree that, for so long as any real property asset of the
Combined Parties is subject to a Tax Driven Lease Transaction, such property shall be treated as
being wholly-owned by the Loan Parties for all purposes under the Credit Agreement. Furthermore,
for so long as net cash received (whether in the form of interest on bonds or otherwise) in
connection with any Tax Driven Lease Transaction equals the net cash paid (whether in the form of
rent or otherwise) under the applicable Tax Driven Lease Transaction Documents, such amounts shall
be disregarded for purposes of calculating the Consolidated Fixed Charge Coverage Ratio.

ARTICLE III

TAXES, YIELD PROTECTION AND ILLEGALITY

     3.01 Taxes.

     (a) Any and all payments by the Borrower Parties to or for the account of the Administrative
Agent or any Lender under any Loan Document shall be made free and clear of and without deduction
for any and all present or future taxes, duties, levies, imposts, deductions, assessments, fees,
withholdings or similar charges, and all liabilities with respect thereto, excluding, in
the case of the Administrative Agent and each Lender, taxes imposed on or measured by its overall
assets, receipts, branch profits, net income, and/or franchise and similar taxes imposed on it (in
lieu of net income taxes), by the jurisdiction (or any political subdivision thereof) under the
Laws of which the Administrative Agent or such Lender, as the case may be, is organized or
maintains a lending office, is doing business or has other contacts (all such non-excluded taxes,
duties, levies, imposts, deductions, assessments, fees, withholdings or similar

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charges, and
liabilities being hereinafter referred to as “Taxes”). If any of the Borrower Parties
shall be required by any Laws to deduct any Taxes from or in respect of any sum payable under
any Loan Document to the Administrative Agent or any Lender, (i) the sum payable shall be
increased as necessary so that after making all required deductions (including deductions
applicable to additional sums payable under this Section), each of the Administrative Agent and
such Lender receives an amount equal to the sum it would have received had no such deductions been
made, (ii) the Borrower Parties shall make such deductions, (iii) the Borrower Parties shall pay
the full amount deducted to the relevant taxation authority or other authority in accordance with
applicable Laws, and (iv) within 30 days after the date of such payment, the Borrower shall furnish
to the Administrative Agent (which shall forward the same to such Lender) the original or a
certified copy of a receipt evidencing payment thereof. If the Lender receives any refund of taxes
paid in accordance with the previous sentence, the Lender shall promptly reimburse the applicable
Borrower Parties for such gross-up.

     (b) In addition, the Borrower Parties agree to pay any and all present or future stamp, court
or documentary taxes and any other excise or property taxes or charges or similar levies which
arise from any payment made under any Loan Document or from the execution, delivery, performance,
enforcement or registration of, or otherwise with respect to, any Loan Document (hereinafter
referred to as “Other Taxes”).

     (c) If any of the Borrower Parties shall be required to deduct or pay any Taxes or Other Taxes
from or in respect of any sum payable under any Loan Document to the Administrative Agent or any
Lender, the Borrower Parties shall also pay to the Administrative Agent or to such Lender, as the
case may be, at the time interest is paid, such additional amount that the Administrative Agent or
such Lender specifies is necessary to preserve the after-tax yield (after factoring in all taxes,
including taxes imposed on or measured by net income) that the Administrative Agent or such Lender
would have received if such Taxes or Other Taxes had not been imposed.

     (d) The Borrower Parties agree to indemnify the Administrative Agent and each Lender for (i)
the full amount of Taxes and Other Taxes (including any Taxes or Other Taxes imposed or asserted by
any jurisdiction on amounts payable under this Section) paid by the Administrative Agent and such
Lender, (ii) amounts payable under Section 3.01(c) and (iii) any liability (including
additions to tax, penalties, interest and expenses) arising therefrom or with respect thereto, in
each case whether or not such Taxes or Other Taxes were correctly or legally imposed or asserted by
the relevant Governmental Authority. Payment under this subsection (d) shall be made within 30
days after the date the Lender or the Administrative Agent makes a demand therefor.

     3.02 Illegality. If any Lender determines that any Law has made it unlawful, or that any
Governmental Authority has asserted that it is unlawful, for any Lender or its applicable Lending
Office to make, maintain or fund Eurodollar Rate Loans, or to determine or charge interest rates
based upon the Eurodollar Rate, then, on notice thereof by such Lender to the Borrower through the
Administrative Agent, any obligation of such Lender to make or continue Eurodollar Rate Loans or to
convert Base Rate Loans to Eurodollar Rate Loans shall be suspended until such Lender notifies the
Administrative Agent and the Borrower that the

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circumstances giving rise to such determination no
longer exist. Upon receipt of such notice, the Borrower Parties shall, upon demand from such
Lender (with a copy to the Administrative
Agent), convert all Eurodollar Rate Loans of such Lender to Base Rate Loans, either on the
last day of the Interest Period therefor, if such Lender may lawfully continue to maintain such
Eurodollar Rate Loans to such day, or immediately, if such Lender may not lawfully continue to
maintain such Eurodollar Rate Loans. Upon any such conversion, the Borrower Parties shall also pay
accrued interest on the amount so converted. Each Lender agrees to designate a different Lending
Office if such designation will avoid the need for such notice and will not, in the good faith
judgment of such Lender, otherwise be materially disadvantageous to such Lender.

     3.03 Inability to Determine Rates. If the Required Lenders determine that for any reason
adequate and reasonable means do not exist for determining the Eurodollar Rate for any requested
Interest Period with respect to a proposed Eurodollar Rate Loan, or that the Eurodollar Rate for
any requested Interest Period with respect to a proposed Eurodollar Rate Loan does not adequately
and fairly reflect the cost to such Lenders of funding such Loan, the Administrative Agent will
promptly so notify the Borrower and each Lender and will provide with such notification such
information and materials as Administrative Agent determines is reasonably required to support such
determination. Thereafter, the obligation of the Lenders to make or maintain Eurodollar Rate Loans
shall be suspended until the Administrative Agent (upon the instruction of the Required Lenders)
revokes such notice, and the Administrative Agent shall promptly notify the Borrower and each
Lender when the conditions for the obligation of the Lenders to make or maintain Eurodollar Rate
Loans is restored. Upon receipt of notice that the obligation of Lenders to make or maintain
Eurodollar Rate Loans is suspended, the Borrower may revoke any pending request for a Borrowing of,
conversion to or continuation of Eurodollar Rate Loans or, failing that, will be deemed to have
converted such request into a request for a Borrowing of Base Rate Loans in the amount specified
therein.

     3.04 Increased Cost; Reduced Return; Capital Adequacy; Reserves.

     (a) If any Lender determines that as a result of the introduction of or any change in or in
the interpretation of any Law, or such Lender’s compliance therewith, there shall be any increase
in the cost to such Lender of agreeing to make or making, funding or maintaining Eurodollar Rate
Loans or (as the case may be) issuing or participating in Letters of Credit, or a reduction in the
amount received or receivable by such Lender in connection with any of the foregoing (excluding for
purposes of this subsection (a) any such increased costs or reduction in amount resulting from (i)
Taxes or Other Taxes (as to which Section 3.01 shall govern), and (ii) changes in the basis
of taxation of overall net income or overall gross income by the United States or any foreign
jurisdiction or any political subdivision of either thereof under the Laws of which such Lender is
organized or has its Lending Office, then from time to time within 15 days of demand of such Lender
(with a copy of such demand to the Administrative Agent), the Borrower Parties shall pay to such
Lender such additional amounts as will compensate such Lender for such increased cost or reduction.

     (b) If any Lender determines that the introduction of any Law regarding capital adequacy or
any change therein or in the interpretation thereof, or compliance by such Lender (or

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its Lending
Office) therewith, has the effect of reducing the rate of return on the capital of such Lender or
any corporation controlling such Lender as a consequence of such Lender’s
obligations hereunder (taking into consideration its policies with respect to capital adequacy
and such Lender’s desired return on capital), then from time to time within 15 days of demand of
such Lender (with a copy of such demand to the Administrative Agent), the Borrower Parties shall
pay to such Lender such additional amounts as will compensate such Lender for such reduction.

     3.05 Compensation for Losses. Within 15 days of demand by any Lender (with a copy to the
Administrative Agent) from time to time, the Borrower Parties shall promptly compensate such Lender
for and hold such Lender harmless from any loss, cost or expense incurred by it as a result of:

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

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

     (c) any assignment of a Eurodollar Rate Loan on a day other than the last day of the Interest
Period therefor as a result of a request by the Borrower pursuant to Section 10.16;

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

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

     3.06 Matters Applicable to all Requests for Compensation.

     (a) A certificate of the Administrative Agent or any Lender claiming compensation under this
Article III and setting forth the additional amount or amounts to be paid to it hereunder,
an explanation thereof and reasonable supporting information or evidence with respect thereto shall
be conclusive in the absence of manifest error so long as such requests for compensation are made
within ninety (90) days of incurrence. Any Person seeking compensation under this Article
III shall, in connection with any such claim, provide both the Administrative Agent and the
Borrower with a copy of the certificate and supporting information/evidence referenced in the
previous sentence. In determining the compensation

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amount claimed, the Administrative Agent or
such Lender may use any reasonable averaging and attribution methods.

     (b) Upon any Lender’s making a claim for compensation under Section 3.01 or
3.04 or a Lender’s making a determination under Section 3.02, the Borrower may
replace such Lender in accordance with Section 10.16.

     3.07 Survival. All of the Borrower Parties’ obligations under this Article III shall
survive for a period of ninety (90) days following the date on which such obligations arise and
shall, to the extent such ninety (90) day period has not run prior to the termination of the
Commitments and repayment of all other Obligations hereunder, survive such termination of the
Commitments and repayment of all other Obligations hereunder for the remainder of such ninety (90)
day period.

ARTICLE IV

CONDITIONS PRECEDENT TO CREDIT EXTENSIONS

     4.01 Conditions of Initial Credit Extension. The occurrence of the Closing Date, the initial
effectiveness of this Agreement and obligation of each Lender to make its initial Credit Extension
hereunder is subject to satisfaction of the following conditions precedent:

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

     (i) executed counterparts of this Agreement, sufficient in number for distribution to
the Administrative Agent, each Lender and the Borrower;

     (ii) a Note executed by the Borrower in favor of each Lender requesting a Note;

     (iii) such certificates of resolutions or other action, incumbency certificates and/or
other certificates of Responsible Officers of each Loan Party as the Administrative Agent
may reasonably require evidencing the identity, authority and capacity of each Responsible
Officer thereof authorized to act as a Responsible Officer in connection with this Agreement
and the other Loan Documents to which such Loan Party is a party;

     (iv) such documents and certifications as the Administrative Agent may reasonably
require to evidence that each Loan Party is duly organized or formed, and is validly
existing, in good standing and qualified to engage in business in the jurisdiction of its
incorporation or organization;

     (v) a favorable opinion of McKenna Long & Aldridge, counsel to the Loan Parties,
addressed to the Administrative Agent and each Lender, in form and substance

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satisfactory to
the Administrative Agent, covering enforceability of the Loan Documents and other matters to
be agreed upon;

     (vi) a certificate signed by a Responsible Officer of the Borrower certifying (A) that
the conditions specified in Sections 4.02(a) and (b) have been satisfied,
(B) that there has been no event or circumstance since the date of the Audited Financial
Statements that has had or could be reasonably expected to have, either individually or in
the aggregate, a Material Adverse Effect; and (C) the calculation of the Consolidated
Leverage Ratio as of June 30, 2007;

     (vii) a duly completed Compliance Certificate as of June 30, 2007, signed by a
Responsible Officer of the Borrower; and

     (viii) such other assurances, certificates, documents, consents or opinions as the
Administrative Agent, the L/C Issuer, the Swing Line Lender or the Required Lenders
reasonably may require.

     (b) Any fees required to be paid to the Administrative Agent, the Arranger or any other Lender
(whether pursuant to the Fee Letter or otherwise) on or before the Closing Date shall have been
paid, it being understood and agreed that (i) the aggregate commitments of the lenders under the
Existing Credit Facility immediately prior to the Closing Date in an amount equal to $400,000,000
shall constitute “Old Money” for purposes of Paragraph 2 of the Fee Letter and (ii) the increase in
the Revolving Credit Commitments in the amount of $100,000,000 on the Closing Date shall constitute
“New Money” for purposes of Paragraph 2 of the Fee Letter.

     (c) Unless waived by the Administrative Agent, the Borrower shall have paid all Attorney Costs
of the Administrative Agent to the extent invoiced prior to or on the Closing Date, plus such
additional amounts of Attorney Costs of the Administrative Agent as shall constitute its reasonable
estimate of Attorney Costs incurred or to be incurred by it through the closing proceedings
(provided that such estimate shall not thereafter preclude a final settling of accounts between the
Borrower and the Administrative Agent).

     (d) The representations and warranties of the Loan Parties contained in Article V or
any other Loan Document, or which are contained in any other document furnished at any time under
this Agreement, shall be true and correct in all material respects on and as of the Closing Date.

     (e) No Default shall exist and be continuing as of the Closing Date.

     (f) There shall not have occurred a material adverse change since December 31, 2006 in the
business, assets, operations, condition (financial or otherwise) or prospects of the Borrower and
its Consolidated Entities taken as a whole, or in the facts and information regarding such entities
as represented to date.

     (g) There shall not exist any action, suit, investigation, or proceeding, pending or
threatened, in any court or before any arbitrator or governmental authority that purports to affect
the Borrower, its Consolidated Entities or any transaction contemplated hereby, or that could

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reasonably be expected to have a Material Adverse Effect on the Borrower and its Consolidated
Entities or any transaction contemplated hereby or on the ability of any party to perform its
obligations under the documents to be executed in connection herewith or in connection with
any other Loan Document.

     (h) The Borrower and its Consolidated Entities shall be in compliance with all existing
financial obligations and Contractual Obligations, the failure to comply with could reasonably be
expected to have a Material Adverse Effect.

     (i) The Administrative Agent and Lenders shall have completed all due diligence with respect
to the Borrower, its Consolidated Entities and its Unconsolidated Entities and the Properties owned
thereby.

     (j) The Existing Indebtedness has been (or will be, simultaneously with closing hereunder)
repaid and satisfied in full and all lending commitments in respect of the Existing Indebtedness
have been terminated.

     4.02 Conditions to all Credit Extensions.

     The obligation of each Lender to honor any Request for Credit Extension (other than a Loan
Notice requesting only a conversion of Loans to the other Type, or a continuation of Eurodollar
Rate Loans) is subject to the following conditions precedent:

     (a) The representations and warranties of the Loan Parties contained in Article V or
any other Loan Document, or which are contained in any document furnished at any time under this
Agreement, shall be true and correct in all material respects on and as of the date of such Credit
Extension, except to the extent of changes resulting from matters permitted under the Loan
Documents or other changes in the ordinary course of business not having a Material Adverse Effect,
and except to the extent that such representations and warranties specifically refer to an earlier
date, in which case they shall be true and correct as of such earlier date, and except that for
purposes of this Section 4.02, the representations and warranties contained in subsections
(a) and (b) of Section 5.05 shall be deemed to refer to the most recent statements
furnished pursuant to clauses (a) and (b), respectively, of Section 6.01.

     (b) No Default (or, in the case of Revolving Credit Loans to be made in connection with any
Unreimbursed Amount, no Event of Default) shall exist, or would result from such proposed Credit
Extension.

     (c) The Administrative Agent and, if applicable, the L/C Issuer or the Swing Line Lender shall
have received a Request for Credit Extension in accordance with the requirements hereof.

     (d) Each Co-Borrower that has not been released as a Co-Borrower pursuant to Section
6.12 hereof shall have executed and delivered a Co-Borrower Joinder Agreement, such other
documents, instruments and agreements as may be reasonably required by Administrative Agent to
evidence such Co-Borrower’s obligations hereunder in respect of the Revolving Credit Facility and
such Revolving Credit Notes as may be requested by the Lenders.

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     Each Request for Credit Extension (other than a Loan Notice requesting only a conversion of
Loans to the other Type or a continuation of Eurodollar Rate Loans) submitted by the Borrower shall
be deemed to be a representation and warranty that the conditions specified in Sections
4.02(a), (b) and (d) have been satisfied on and as of the date of the
applicable Credit Extension.

ARTICLE V

REPRESENTATIONS AND WARRANTIES

     The Loan Parties, jointly and severally, represent and warrant to the Administrative Agent and
the Lenders that:

     5.01 Existence, Qualification and Power; Compliance with Laws.

     The Borrower and each Consolidated Entity (a) is duly organized or formed, validly existing
and in good standing under the Laws of the jurisdiction of its incorporation or organization, (b)
has all requisite power and authority and all requisite governmental licenses, authorizations,
consents and approvals to (i) own its assets and carry on its business and (ii) execute, deliver
and perform its obligations under the Loan Documents (if any) to which it is a party, (c) is duly
qualified and is licensed and in good standing under the Laws of each jurisdiction where its
ownership, lease or operation of properties or the conduct of its business requires such
qualification or license, and (d) is in compliance with all Laws; except in each case referred to
in clause (b)(i), (c) or (d), to the extent that failure to do so could not reasonably be expected
to have a Material Adverse Effect.

     5.02 Authorization; No Contravention.

     The execution, delivery and performance by each Loan Party of each Loan Document to which such
Person is party, have been duly authorized by all necessary corporate or other organizational
action, and do not and will not (a) contravene the terms of any of such Person’s Organization
Documents; (b) conflict with or result in any breach or contravention of, or the creation of any
Lien (other than a Permitted Lien) under, (i) any Contractual Obligation to which such Person is a
party or (ii) any order, injunction, writ or decree of any Governmental Authority or any arbitral
award to which such Person or its property is subject; or (c) violate any Law.

     5.03 Governmental Authorization; Other Consents.

     No approval, consent, exemption, authorization, or other action by, or notice to, or filing
with, any Governmental Authority or any other Person is necessary or required in connection with
the execution, delivery or performance by, or enforcement against, any Loan Party of this Agreement
or any other Loan Document except the filing of this Agreement with the Securities and Exchange
Commission.

     5.04 Binding Effect.

     This Agreement has been, and each other Loan Document, when delivered hereunder, will have
been, duly executed and delivered by each Loan Party that is party thereto. This

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Agreement constitutes, and each other Loan Document when so delivered will constitute, a
legal, valid and binding obligation of such Loan Party, enforceable against each Loan Party that is
party thereto in accordance with its terms, except (i) that enforcement may be subject to
bankruptcy, insolvency, reorganization, moratorium or other similar laws (whether statutory,
regulatory or decisional) now or hereafter in effect relating to creditors’ rights generally and
(ii) the remedy of specific performance and injunctive and other forms of equitable relief may be
subject to certain equitable defenses and to the discretion of the court before which any
proceeding therefor may be brought, whether in a proceeding at law or in equity.

     5.05 Financial Statements; No Material Adverse Effect.

     (a) The Audited Financial Statements (i) were prepared in accordance with GAAP consistently
applied throughout the period covered thereby, except as otherwise expressly noted therein; (ii)
fairly present in accordance with GAAP the financial condition of the Borrower and the Consolidated
Entities (including the Consolidated Entities’ interest in the Unconsolidated Entities) as of the
date thereof and their results of operations for the period covered thereby in accordance with GAAP
consistently applied throughout the period covered thereby, except as otherwise expressly noted
therein; and (iii) show all material indebtedness and other liabilities, direct or contingent, of
the applicable parties as of the date thereof, including liabilities for taxes, material
commitments and Indebtedness as required by GAAP.

     (b) The unaudited consolidated balance sheets of the Borrower and the Consolidated Parties
(including the Consolidated Entities’ interest in the Unconsolidated Entities) dated June 30, 2007,
and the related consolidated statements of income or operations, shareholders’ equity and cash
flows for the calendar quarter ended on that date (i) were prepared in accordance with GAAP
consistently applied throughout the period covered thereby, except as otherwise expressly noted
therein, and (ii) fairly present in accordance with GAAP the financial condition of the parties
identified therein as of the date thereof and their results of operations for the period covered
thereby, subject, in the case of clauses (i) and (ii), to the absence of footnotes and to normal
year-end audit adjustments. Schedule 5.05 sets forth, as of the Closing Date, all material
Indebtedness for Money Borrowed of the Borrower, the Consolidated Entities and the Unconsolidated
Entities, respectively, as of the date of such financial statements. Without limiting the
foregoing, such list shall include all Indebtedness for Money Borrowed in excess of $10,000,000.

     (c) Since the date of the Audited Financial Statements, there has been no event or
circumstance, either individually or in the aggregate, that has had or could reasonably be expected
to have a Material Adverse Effect.

     5.06 Litigation.

     Except as specifically disclosed in Schedule 5.06 (as amended by any Compliance
Certificate or Request for Credit Extension containing supplemental information thereto), there are
no actions, suits, proceedings, claims or disputes pending or, to the knowledge of the Loan Parties
after due and diligent investigation, threatened or contemplated, at law, in equity, in arbitration
or before any Governmental Authority, by or against any Consolidated Party or

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against any of their
properties or revenues that (a) purport to affect or pertain to this Agreement
or any other Loan Document, or any of the transactions contemplated hereby, or (b) either
individually or in the aggregate, that are not covered by insurance and, if determined adversely,
could reasonably be expected to have a Material Adverse Effect.

     5.07 No Default.

     Neither the Borrower, nor any Consolidated Entity is in default under or with respect to any
Contractual Obligation that could, either individually or in the aggregate, reasonably be expected
to have a Material Adverse Effect. No Default has occurred and is continuing or would result from
the consummation of the transactions contemplated by this Agreement or any other Loan Document.

     5.08 Ownership of Property; Liens.

     The Borrower and each Consolidated Entity has good record and marketable title in fee simple
to, or valid leasehold interests in, all real property necessary or used in the ordinary conduct of
its business, except for such defects in title as could not, individually or in the aggregate,
reasonably be expected to have a Material Adverse Effect. The property of the Borrower and the
Consolidated Entities is subject to no Liens, other than Liens permitted by Section 7.01.

     5.09 Environmental Compliance.

     The Borrower and each Consolidated Entity conduct in the ordinary course of business in
connection with the purchase of real estate a review of the effect of existing Environmental Laws
and claims alleging potential liability or responsibility for violation of any Environmental Law on
or with respect to such properties, and as a result thereof the Loan Parties have reasonably
concluded that, except as specifically disclosed in Schedule 5.09 (as amended by any
Compliance Certificate or Request for Credit Extension containing supplemental information
thereto), any violation of such Environmental Laws and claims could not, individually or in the
aggregate, reasonably be expected to have a Material Adverse Effect.

     5.10 Insurance.

     The properties of the Borrower and each Consolidated Entity are insured with financially sound
and reputable insurance companies not the Borrower, any Subsidiary of the Borrower, any
Consolidated Entity, any Unconsolidated Entity or any Investment Entity, in such amounts, with such
deductibles and covering such risks as are customarily carried by companies engaged in similar
businesses and owning similar properties in localities where the Borrower or the applicable
Consolidated Entity operates.

     5.11 Taxes.

     The Borrower and each Consolidated Entity have filed all Federal, state and other material tax
returns and reports required to be filed unless an extension has been obtained, and have paid all
Federal, state and other material taxes, assessments, fees and other governmental

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charges levied or
imposed upon them or their properties, income or assets otherwise due and
payable, except those which are being contested in good faith by appropriate proceedings
diligently conducted and for which adequate reserves have been provided in accordance with GAAP.
To the best of Borrower’s knowledge and belief, there is no proposed tax assessment against the
Borrower or any Consolidated Entity that would, if made, have a Material Adverse Effect.

     5.12 ERISA Compliance.

     (a) Except as set forth on Schedule 5.12, each Plan is in compliance in all material
respects with the applicable provisions of ERISA, the Code and other Federal or state Laws. Each
Plan that is intended to qualify under Section 401(a) of the Code has received a favorable
determination letter from the IRS or an application for such a letter is currently being processed
by the IRS with respect thereto and, to the best knowledge of the Borrower, nothing has occurred
which would prevent, or cause the loss of, such qualification. The Borrower and each ERISA
Affiliate have made all required contributions to each Plan subject to Section 412 of the Code, and
no application for a funding waiver or an extension of any amortization period pursuant to Section
412 of the Code has been made with respect to any Plan.

     (b) There are no pending or, to the best knowledge of the Loan Parties, threatened claims,
actions or lawsuits, or action by any Governmental Authority, with respect to any Plan that could
be reasonably be expected to have a Material Adverse Effect. There has been no prohibited
transaction or violation of the fiduciary responsibility rules with respect to any Plan that has
resulted or could reasonably be expected to result in a Material Adverse Effect.

     (c) (i) No ERISA Event has occurred or is reasonably expected to occur; (ii) no Pension Plan
has any Unfunded Pension Liability; (iii) neither the Borrower nor any ERISA Affiliate has
incurred, or reasonably expects to incur, any liability under Title IV of ERISA with respect to any
Pension Plan (other than premiums due and not delinquent under Section 4007 of ERISA); (iv) neither
the Borrower nor any ERISA Affiliate has incurred, or reasonably expects to incur, any liability
(and no event has occurred which, with the giving of notice under Section 4219 of ERISA, would
result in such liability) under Sections 4201 or 4243 of ERISA with respect to a Multiemployer
Plan; and (v) neither the Borrower nor any ERISA Affiliate has engaged in a transaction that could
be subject to Sections 4069 or 4212(c) of ERISA.

     5.13 Consolidated Entities; REIT Status.

     As of the Closing Date and as of the date of the last Compliance Certificate delivered
pursuant to the terms of this Agreement, the Borrower has no Consolidated Entities other than those
specifically disclosed in Part (a) of Schedule 5.13 and has no equity investments in any
other Unconsolidated Entity or Investment Entity other than those specifically disclosed in Part
(b) of Schedule 5.13 (as amended by any Compliance Certificate containing supplemental
information thereto). The Borrower qualifies as a REIT.

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     5.14 Margin Regulations; Investment Company Act; Public Utility Holding Company Act.

     (a) The Borrower Parties are not engaged and will not engage, principally or as one of its
important activities, in the business of purchasing or carrying margin stock (within the meaning of
Regulation U issued by the FRB), or extending credit for the purpose of purchasing or carrying
margin stock.

     (b) None of the Borrower Parties, any Person Controlling any of the Borrower Parties, or any
Consolidated Entity is or is required to be registered as an “investment company” under the
Investment Company Act of 1940.

     5.15 Disclosure.

     Each Loan 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. No report, financial statement, certificate or
other information furnished in writing by or on behalf of any Loan Party to the Administrative
Agent or any Lender in connection with the transactions contemplated hereby and the negotiation of
this Agreement or delivered hereunder (as modified or supplemented by other information so
furnished) as of the date thereof contains any material misstatement of material 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 and taken as a whole, not misleading; provided that, with
respect to projected financial information, the Borrower Parties represent only that such
information was prepared in good faith based upon assumptions believed to be reasonable at the
time.

     5.16 Compliance with Laws.

     The Borrower and each Consolidated Entity is in compliance in all material respects with the
requirements of all Laws and all orders, writs, injunctions and decrees applicable to it or to its
properties, except in such instances in which (a) such requirement of Law or order, writ,
injunction or decree is being contested in good faith by appropriate proceedings diligently
conducted or (b) the failure to comply therewith, either individually or in the aggregate, could
not reasonably be expected to have a Material Adverse Effect.

     5.17 Intellectual Property; Licenses, Etc.

     The Borrower and each Consolidated Entity owns, or possess the right to use, all of the
trademarks, service marks, trade names, copyrights, patents, patent rights, franchises, licenses
and other intellectual property rights (collectively, “IP Rights”) that are reasonably
necessary for the operation of their respective businesses, without conflict with the rights of any
other Person

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except where such failure could not reasonably be expected to have a Material Adverse
Effect. To the best knowledge of the Loan Parties, no slogan or other advertising device, product,
process, method, substance, part or other material now employed, or now contemplated to be
employed, by the Borrower or any Consolidated Entity infringes upon any rights held by any other
Person except where such failure could not reasonably be expected to have a Material Adverse
Effect. Except as specifically disclosed in Schedule 5.17, (as amended by any Compliance
Certificate or Request for Credit Extension containing supplemental information thereto), no claim
or litigation regarding any of the foregoing is pending or, to the best knowledge of the Loan
Parties, threatened, which, either individually or in the aggregate, could reasonably be expected
to have a Material Adverse Effect.

     5.18 Taxpayer Identification Number. The Borrower’s true and correct U.S. taxpayer
identification number is set forth on Schedule 10.02.

ARTICLE VI

AFFIRMATIVE COVENANTS

     So long as any Lender shall have any Commitment hereunder, any Loan or other Obligation
hereunder shall remain unpaid or unsatisfied, or any Letter of Credit shall remain outstanding,
each Loan Party shall, and shall (except in the case of the covenants set forth in Sections
6.01, 6.02, 6.03 and 6.11) cause each Consolidated Entity to:

     6.01 Financial Statements.

     Deliver to the Administrative Agent, in form and detail reasonably satisfactory to the
Administrative Agent and the Required Lenders:

     (a) as soon as available, but in any event within 90 days after the end of each calendar year
of the Borrower (commencing with the calendar year ended 2007), a consolidated balance sheet of the
Borrower and the Consolidated Entities as at the end of such calendar year, and the related
consolidated statements of income or operations, shareholders’ equity and cash flows for such
calendar year, setting forth in each case in comparative form the figures for the previous calendar
year, all in reasonable detail and prepared in accordance with GAAP, audited and accompanied by a
report and opinion of an independent certified public accountant or accounting firm of nationally
recognized standing reasonably acceptable to the Administrative Agent, which report and opinion
shall be prepared in accordance with generally accepted auditing standards and shall not be subject
to any “going concern” or like qualification, exception, assumption or explanatory language or any
qualification, exception, assumption or explanatory language as to the scope of such audit; and

     (b) as soon as available, but in any event within 45 days after the end of each of the first
three calendar quarters of each calendar year of the Borrower (commencing with the calendar quarter
ended September 30, 2007), a consolidated balance sheet of the Borrower and the Consolidated
Entities as at the end of such calendar quarter, and the related consolidated statements of income
or operations, shareholders’ equity and cash flows for such calendar quarter and for the portion of
the Borrower’s calendar year then ended, setting forth in each case

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in comparative form the figures
for the corresponding calendar quarter of the previous calendar year and the corresponding portion
of the previous calendar year, all in reasonable detail and certified by a Responsible Officer of
the Borrower as fairly presenting the financial condition,
results of operations, shareholders’ equity and cash flows of the Borrower and the
Consolidated Entities in accordance with GAAP as of the date thereof, subject only to normal
year-end audit adjustments and the absence of footnotes.

As to any information contained in materials furnished pursuant to Section 6.02, the
Borrower shall not be separately required to furnish such information under clause (a) or (b)
above, but the foregoing shall not be in derogation of the obligation of the Borrower to furnish
the information and materials described in subsections (a) and (b) above at the times specified
therein.

     6.02 Certificates; Other Information.

     Deliver to the Administrative Agent:

     (a) concurrently with the delivery of the financial statements referred to in Section
6.01(a), a certificate of its independent certified public accountants certifying such
financial statements and stating that in making the examination necessary therefor no knowledge was
obtained of any Default or, if any such Default shall exist, stating the nature and status of such
event;

     (b) concurrently with the delivery of the financial statements referred to in Sections
6.01(a) and (b), a duly completed Compliance Certificate signed by a Responsible
Officer of the Borrower;

     (c) promptly after any request by the Administrative Agent or any Lender, copies of any
detailed audit reports, management letters submitted to the board of directors (or the audit
committee of the board of directors) of the Borrower by independent accountants in connection with
the accounts or books of the Borrower or any Consolidated Entity, or any audit of any of them;

     (d) promptly after the same are available, copies of each annual report, proxy or financial
statement or other material report or communication sent to the stockholders of the Borrower, and
copies of all annual, regular, or material periodic and special reports and registration statements
which the Borrower may file or be required to file with the SEC under Section 13 or 15(d) of the
Securities Exchange Act of 1934, and not otherwise required to be delivered to the Administrative
Agent pursuant hereto; and

     (e) promptly, such additional data, certificates, reports, statements, documents or other
information regarding the business, assets, liabilities, financial or corporate affairs, projected
financial performance, operations or other matters pertaining to the Borrower or any Consolidated
Entity, or compliance with the terms of the Loan Documents, as the Administrative Agent or any
Lender may from time to time reasonably request.

     Documents required to be delivered pursuant to Section 6.01(a) or (b) or
Section 6.02(d) (to the extent any such documents are included in materials otherwise filed
with the SEC) may

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be delivered electronically and if so delivered, shall be deemed to have been
delivered on the date (i) on which the Borrower posts such documents, or provides a link thereto on
the Borrower’s website on the Internet at the website address listed on Schedule 10.02; or
(ii) on which such documents are posted on the Borrower’s behalf on an Internet or intranet website,
if any, to which each Lender and the Administrative Agent have access (whether a commercial,
third-party website or whether sponsored by the Administrative Agent); provided that the
Borrower shall notify (which may be by facsimile or electronic mail) the Administrative Agent and
each Lender of the posting of any such documents and provide to the Administrative Agent by
electronic mail electronic versions (i.e., soft copies) of such documents. Notwithstanding
anything contained herein, in every instance the Borrower shall be required to provide paper copies
of the Compliance Certificates required by Section 6.02(b) to the Administrative Agent.
Except for such Compliance Certificates, the Administrative Agent shall have no obligation to
request the delivery or to maintain copies of the documents referred to above, and in any event
shall have no responsibility to monitor compliance by the Borrower with any such request for
delivery, and each Lender shall be solely responsible for requesting delivery to it or maintaining
its copies of such documents.

     The Borrower hereby acknowledges that (a) the Administrative Agent and/or the Arranger will
make available to the Lenders and the L/C Issuer materials and/or information provided by or on
behalf of the Borrower hereunder (collectively, “Borrower Materials”) by posting the
Borrower Materials on IntraLinks or another similar electronic system that is approved by the
Borrower, such approval not to be unreasonably withheld (the “Platform”) and (b) certain of
the Lenders (each, a “Public Lender”) may have personnel who do not wish to receive
material non-public information with respect to the Borrower or its Affiliates, or the respective
securities of any of the foregoing, and who may be engaged in investment and other market related
activities with respect to such Persons’ securities. The Borrower hereby agrees that it will use
commercially reasonable efforts to identify that portion of the Borrower Materials that may be
distributed to the Public Lenders and that (w) all such Borrower Materials shall be clearly and
conspicuously marked “PUBLIC” which, at a minimum, shall mean that the word “PUBLIC” shall appear
prominently on the first page thereof; (x) by marking Borrower Materials “PUBLIC,” the Borrower
shall be deemed to have authorized the Administrative Agent, the Arranger, the L/C Issuer and the
Lenders to treat such Borrower Materials as not containing any material non-public information
(although it may be sensitive and proprietary) with respect to the Borrower, its Affiliates or
their respective securities for purposes of United States Federal and state securities laws
(provided, however, that to the extent such Borrower Materials constitute
Information, they shall be treated as set forth in Section 10.08); (y) all Borrower
Materials marked “PUBLIC” are permitted to be made available through a portion of the Platform
designated “Public Investor;” and (z) the Administrative Agent and the Arranger shall be entitled
to treat any Borrower Materials that are not marked “PUBLIC” as being suitable only for posting on
a portion of the Platform not designated “Public Investor.” Notwithstanding the foregoing, the
Borrower shall be under no obligation to mark any Borrower Materials “PUBLIC”.

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     6.03 Notices.

     Promptly notify the Administrative Agent and each Lender after a Responsible Officer becomes
aware thereof:

     (a) of the occurrence of any Default and the nature thereof;

     (b) of any matter that has resulted or could reasonably be expected to result in a Material
Adverse Effect, including (i) breach or non-performance of, or any default under, a Contractual
Obligation of the Borrower or any Consolidated Entity; (ii) any dispute, litigation, investigation,
proceeding or suspension between the Borrower or any Consolidated Entity and any Governmental
Authority; or (iii) the commencement of, or any material development in, any litigation or
proceeding affecting the Borrower or any Consolidated Entity, including pursuant to any applicable
Environmental Laws;

     (c) of the occurrence of any ERISA Event; and

     (d) of any material change in accounting policies or financial reporting practices by the
Borrower or any Consolidated Entity.

     Each notice pursuant to this Section shall be accompanied by a statement of a Responsible
Officer of the Borrower setting forth details of the occurrence referred to therein and stating
what action the Borrower Parties have taken and propose to take with respect thereto. Each notice
pursuant to Section 6.03(a) shall describe with particularity any and all material
provisions of this Agreement and any other Loan Document that have been breached.

     6.04 Payment of Obligations.

     Pay and discharge as the same shall become due and payable, (a) all material tax liabilities,
assessments and governmental charges or levies upon it or its properties or assets, unless the same
are being contested in good faith by appropriate proceedings diligently conducted and adequate
reserves in accordance with GAAP are being maintained by the Borrower or such Consolidated Entity;
and (b) all lawful material claims which, if unpaid, would by law become a Lien (other than a
Permitted Lien) upon its property, provided, however, such lawful claims may be
contested in good faith in appropriate proceedings and as to which adequate reserves in accordance
with GAAP shall have been established, but only so long as enforcement of any such claim has been
stayed and so long as such proceedings could not subject any Lender to any civil or criminal
penalty or liability.

     6.05 Preservation of Existence, Etc.

     (a) Except to the extent failure to do the same is not likely to result in a Material Adverse
Effect: (i) preserve, renew and maintain in full force and effect its legal existence and good
standing under the Laws of the jurisdiction of its organization except in a transaction permitted
by Section 7.04 or 7.05; (ii) take all reasonable action to maintain all rights,
privileges, permits, licenses and franchises necessary or desirable in the normal conduct of its
business; and (iii) preserve or renew all of its registered patents, trademarks, trade names and
service marks

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and (b) cause the Borrower to, at all times during the term hereof, maintain its status as an
Internal Revenue Service-qualified REIT.

     6.06 Maintenance of Properties.

     Except to the extent failure to do the same is not likely to result in a Material Adverse
Effect: (a) maintain, preserve and protect all of its material properties and equipment necessary
in the operation of its business in good working order and condition, ordinary wear and tear
excepted; (b) make all necessary repairs thereto and renewals and replacements thereof; and (c) use
at least the standard of care typical in the industry in the operation and maintenance of its
facilities.

     6.07 Maintenance of Insurance.

     Maintain with financially sound and reputable insurance companies (provided that such
companies shall not, in any case, be the Borrower, any Subsidiary of the Borrower, any Consolidated
Entity, any Unconsolidated Entity or any Investment Entity), insurance with respect to its
properties and business against loss or damage of the kinds customarily insured against by Persons
engaged in the same or similar business, of such types and in such amounts as are customarily
carried under similar circumstances by such other Persons and providing for not less than 30 days’
prior notice to the Administrative Agent of termination, lapse or cancellation of such insurance.

     6.08 Compliance with Laws.

     Comply in all material respects with the requirements of all Laws and all orders, writs,
injunctions and decrees applicable to it or to its business or property, except in such instances
in which (a) such requirement of Law or order, writ, injunction or decree is being contested in
good faith by appropriate proceedings diligently conducted; or (b) the failure to comply therewith
could not reasonably be expected to have a Material Adverse Effect.

     6.09 Books and Records.

     (a) Maintain proper books of record and account, in which full, true and correct entries in
all material respects in conformity with GAAP consistently applied shall be made of all financial
transactions and matters involving the assets and business of the Borrower or such Consolidated
Entity, as the case may be; and (b) maintain such books of record and account in material
conformity with all applicable requirements of any Governmental Authority having regulatory
jurisdiction over the Borrower or such Consolidated Entity, as the case may be.

     6.10 Inspection Rights.

     Permit representatives and independent contractors of the Administrative Agent and each Lender
to visit and inspect any of its properties, to examine its corporate, financial and operating
records, and make copies thereof or abstracts therefrom, and to discuss its affairs, finances and
accounts with its directors, officers, and independent public accountants, all at the expense of
the Borrower and at such reasonable times during normal business hours and as often as may be

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reasonably desired, upon reasonable advance notice to the Borrower; provided,
however, that neither the Administrative Agent nor any Lender shall take any action which
would result in the interference with any tenant’s right to quiet enjoyment of the property subject
to any lease during the term thereof; provided, further, that the Administrative
Agent and each Lender agree to use reasonable efforts to share information among one another and to
coordinate such inspections to minimize disruption for the Borrower; provided,
further, however, that when an Event of Default exists the Administrative Agent or
any Lender (or any of their respective representatives or independent contractors) may do any of
the foregoing at the expense of the Borrower at any time during normal business hours and without
advance notice.

     6.11 Use of Proceeds.

     Use the proceeds of the Credit Extensions to repay the Existing Indebtedness and for
acquisitions, development, renovation, working capital in the ordinary course of business, to
support letters of credit and other general purposes.

     6.12 Additional Guarantors; Creation of Co-Borrowers; Release of Co-Borrowers.

     (a) Within thirty (30) days of the end of each calendar quarter during the term of this
Agreement, except as specifically provided below, cause each Person who has become Domestic
Subsidiary that constitutes a Consolidated Entity during the calendar quarter that was just ended,
to (i) become a Guarantor by executing and delivering to the Administrative Agent a Joinder
Agreement and such other document as the Administrative Agent shall reasonably deem appropriate for
such purpose, and (ii) deliver to the Administrative Agent documents of the types referred to in
clauses (iii) and (iv) of Section 4.01(a) and favorable opinions of counsel to such Person
(which shall cover, among other things, the legality, validity, binding effect and enforceability
of the documentation referred to in clause (a)), all in form, content and scope reasonably
satisfactory to the Administrative Agent; provided, however, that (A) a
Consolidated Entity shall not be required to execute a Joinder Agreement and become a Guarantor
hereunder if (1) such Consolidated Entity is inactive, has aggregate assets with a book value of
less than $5,000,000 and has no operations or (2) such Consolidated Entity is prohibited under the
terms of its Organization Documents or the terms of any Indebtedness from providing Guarantees of
Indebtedness of any other Person, (B) notwithstanding the foregoing, one or more Consolidated
Entities designated by the Borrower that would otherwise be exempt from the requirements set forth
in item (1) of subclause (A) above shall, nonetheless, be required to execute a Joinder Agreement
and become a Guarantor pursuant to the provisions of this Section 6.12 so that the
aggregate value of assets held by Consolidated Entities that are not required to execute Joinder
Agreements pursuant to the terms of subclause (A)(1) above shall not exceed 10% of the total value
of the Unencumbered Properties (as reasonably determined by the Administrative Agent using
information provided to it by the Borrower pursuant to the terms of this Agreement), (C) in the
event during any calendar quarter during the term of this Agreement, the Borrower or any
Consolidated Entity creates or acquires a Domestic Subsidiary that has an asset value that exceeds
5% of the total value of Unencumbered Properties (as reasonably determined by the Administrative
Agent using information provided to it by the Borrower pursuant to the terms of this Agreement),
then the Borrower shall require such newly created or acquired Domestic

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Subsidiary to execute and deliver the documentation required pursuant to clauses (i) and (ii)
above within 30 days of the date of creation or acquisition of such Domestic Subsidiary, and (D) to
the extent a Consolidated Entity that was previously exempted from execution of a Joinder Agreement
pursuant to subclause (A) above no longer satisfies the criteria for exemption set forth therein,
such Consolidated Entity shall, within 30 days of the end of the applicable calendar quarter,
fulfill the requirements of clauses (i) and (ii) above.

     (b) Provide to the Administrative Agent, to the extent the Borrower intends to qualify any
then-existing Guarantor as a party entitled to directly borrow Loan funds pursuant to the terms
hereof and to otherwise act as a Borrower Party in respect of the Facilities for purposes of this
Agreement (a “Co-Borrower”): (i) a written request to designate such Guarantor as a
Co-Borrower of the Facilities, (ii) a Co-Borrower Joinder Agreement executed by each of the
Borrower and such Guarantor and (iii) Notes for each Lender executed by the proposed Co-Borrower;
provided, that

     (A) the materials required to be delivered pursuant to subclauses (i) and (ii) above
may be delivered to the Administrative Agent concurrently with the materials causing the
applicable Guarantor to initially qualify as a Guarantor pursuant to clause (a) above (it
being understood that no Person may become a Co-Borrower unless it is first (or
simultaneously becomes) a Guarantor and no Guarantor can become a Co-Borrower until such
materials have been delivered);

     (B) the Administrative Agent shall have the right to approve or reject the
qualification of any proposed Co-Borrower subject to the following criteria:

     (1) the Administrative Agent shall have the right to reject the qualification
of any proposed Co-Borrower within five (5) Business Days of its receipt of the
materials required above to the extent that any such materials delivered in
connection with the qualification thereof are not, in the reasonable judgment of the
Administrative Agent, complete, accurate or otherwise sufficient to cause such
proposed Co-Borrower to be legally bound as a Borrower Party hereunder and shall, in
connection with any rejection of a proposed Co-Borrower, deliver to the Borrower a
written explanation of the grounds for such rejection;

     (2) in the absence of any rejection by the Administrative Agent pursuant to
item (1) above, the qualification of the proposed Co-Borrower shall be effective as
of the date occurring six (6) Business Days following the Administrative Agent’s
receipt of all materials required to be delivered for qualification of a Co-Borrower
pursuant to this clause (b); provided, that if the Administrative Agent, for any
reason, ultimately rejects the qualification of a proposed Co-Borrower pursuant to
the terms of this Section 6.12(b), the Administrative Agent shall, promptly
upon the request of the Borrower, return to the Borrower the materials delivered
pursuant to items (i), (ii) and (iii) of this Section 6.12(b); and

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     (C) any Guarantor designated from time to time as a Co-Borrower hereunder shall, at all
times (until released as a Co-Borrower hereunder) remain liable for all of the
outstanding Obligations as a Co-Borrower, and, until released as a Guarantor, shall
remain liable for all of the outstanding Obligations as a Guarantor; provided, that release
of a Person as a Co-Borrower hereunder shall not constitute the release of such Person as a
Guarantor.

     (c) Provide to the Administrative Agent, to the extent the Borrower intends to cause the
release of any Co-Borrower from its qualification as a Co-Borrower hereunder (i) a written request
for the release of the applicable Co-Borrower and (ii) a certification by the Borrower and such
Co-Borrower that the applicable Co-Borrower shall remain bound by the terms and conditions of its
Joinder Agreement as a Guarantor of both the Revolving Credit Facility and the Term Facility, and
that, following its release as a Co-Borrower hereunder, it will remain liable as a Guarantor for
all of the Obligations pursuant to the terms of Article XI hereof and that such Co-Borrower
is not the “primary obligor” with respect to any then-outstanding Loans (or that such Loans are
being repaid in connection with such requested release); provided that (A) any such request for
release shall be effective as of the Business Day following the Administrative Agent’s receipt of
the materials required pursuant to this clause (c); (B) the Administrative Agent and/or Lenders
shall, upon the release of any Person as a Co-Borrower hereunder, return to the Borrower any Notes
executed by the applicable Co-Borrower; (C) any Co-Borrower which is released as a Co-Borrower
hereunder shall, immediately upon such release, resume its status as a Guarantor hereunder and
remain subject to all of the terms and conditions set forth herein with respect to the Guarantors
(including, without limitation, the provisions of Article XI hereof), and (D) the
Administrative Agent shall, at the request of the Borrower, provide evidence of the release of any
Co-Borrower in a form reasonably acceptable to the Borrower to the extent such release is permitted
pursuant to this clause (c).

ARTICLE VII

NEGATIVE COVENANTS

     So long as any Lender shall have any Commitment hereunder, any Loan or other Obligation
hereunder shall remain unpaid or unsatisfied, or any Letter of Credit shall remain outstanding, no
Loan Party shall, nor shall it permit any Consolidated Entity to, directly or indirectly:

     7.01 Liens.

     Create, incur, assume or suffer to exist any Lien (other than a Permitted Lien) upon (a) any
of the Unencumbered Properties; provided, that (i) mortgage Indebtedness with
respect to such Unencumbered Properties may be incurred to the extent the underlying Indebtedness
would not cause the Loan Parties to be in violation of any financial or other covenant contained
herein (including, without limitation, those contained in Sections 7.03 or 7.11
hereof) and (ii) the parties hereto acknowledge that the incurrence of any such mortgage
Indebtedness will cause the applicable Unencumbered Property to cease to qualify as such for
purposes of this Agreement; or (b) any of its other property, assets or revenues, whether now owned
or hereafter acquired, if the

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Indebtedness underlying such Lien would cause the Loan Parties to be
in violation of Section 7.11(c) hereof.

     7.02 Investments.

     Make any loan, advance or otherwise acquire evidences of Indebtedness, capital stock or other
securities of any Person or otherwise make any Investment, except:

     (a) Investments in, loans and advances to, or other acquisitions of evidences of Indebtedness
or capital stock or other securities of the Borrower, any Consolidated Entity or any Unconsolidated
Entity, and

     (b) Investments in, loans and advances to, or other acquisitions of evidences of Indebtedness
or capital stock or other securities of any Person if the same relate to real estate, interests in
real estate or Persons involved in the ownership, investment, management, leasing, development or
financing of real estate to the extent such Investment is in compliance with the limitations on
assets that may be owned by real estate investment trusts and is consistent with Borrower’s
business strategy;

provided that Borrower and its Consolidated Entities shall not make Investments in or loans
or advances to, or acquire the capital stock of any Persons that would qualify as an Investment
Entity if the aggregate amount thereof, together with amounts committed to be contributed or
advanced to any other then-existing Investment Entities, exceeds $90,000,000.

Notwithstanding anything to the contrary contained in the foregoing, each of the Borrower and its
Consolidated Entities may make investments of its working capital and other reserves in (i) cash,
(ii) Cash Equivalents and (iii) money market mutual funds and other investments approved from time
to time by the Administrative Agent in its discretion.

     7.03 Indebtedness.

     Create, incur, assume or suffer to exist any Indebtedness for Money Borrowed:

     (a) that is Unsecured Debt, except to the extent that:

     (i) if such Indebtedness is new Indebtedness that did not exist as of the Closing Date,
the Administrative Agent has received, not less than ten (10) days prior to the closing of
such Indebtedness, written notice of the intention of such Loan Party to enter into such
Indebtedness, together with a pro forma Compliance Certificate showing projected compliance
by the Loan Parties with each of the financial covenants set forth herein from the date of
the incurrence of such Indebtedness through the Extended Maturity Date and a summary of the
material terms and conditions of the loan documents with respect thereto; and

     (ii) the aggregate Unsecured Debt of the Loan Parties (including any requested or
pending Credit Extension) is less than or equal to the sum of (A)(1) the Value of Income
Producing Assets (other than the 191 Peachtree Building for so long as

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Section
7.03(a)(ii)(A)(2) is effective as contemplated by this Agreement) wholly owned by the Loan
Parties that are Unencumbered Properties, multiplied by sixty percent (60% plus (2)
for so long as the 191 Peachtree Building is wholly owned by the Loan Parties
and is an Unencumbered Property (but subject to the provisions of the definition of
“Value of Income Producing Assets”), the value of the 191 Peachtree Building (calculated as
provided in the definition of Value of Income Producing Assets) multiplied by sixty percent
(60%)), (B) the Value of Non-Income Producing Assets wholly owned by the Loan Parties that
are Unencumbered Properties and that are not Land and Condominium Assets, multiplied
by sixty percent (60%), plus (C) the Value of Non-Income Producing Assets wholly
owned by the Loan Parties that are Unencumbered Properties and that are Land and Condominium
Assets, multiplied by fifty percent (50%) plus (D) the Value of Liquid Assets wholly
owned by the Loan Parties and not encumbered (except for Permitted Liens),
multiplied by fifty percent (50%); provided, that to the extent the sum of
the amounts calculated pursuant to subclauses (B), (C) and (D) above constitutes more than
50% of the total of the amount calculated pursuant to subclauses (A), (B), (C) and (D) of
this clause (a)(ii), such amount shall be reduced to the extent required to cause the amount
calculated pursuant to such subclauses (B), (C) and (D) to equal 50% of the total of the
amount calculated pursuant to subclauses (A), (B), (C) and (D) of this clause (a)(ii);
provided, further, that, to the extent that the amounts calculated
pursuant to subclause (C) above constitutes more than 25% of the total of the amount
calculated pursuant to subclauses (A), (B), (C) and (D) of this clause (a)(ii), such amount
shall be reduced to the extent required to cause the amount calculated pursuant to such
subclause (C) to equal 25% of the total amount calculated pursuant to subclauses (A), (B),
(C) and (D) of this clause (a)(ii); and

     (b) that is Secured Debt that is recourse to the Loan Parties (not including customary
recourse carve-outs relating to nonrecourse Secured Debt) except to the extent that such Secured
Debt does not, as of any date of calculation, exceed an aggregate amount equal to fifteen percent
(15.0%) of Total Assets as of such date.

     7.04 Fundamental Changes.

     Merge, dissolve, liquidate, consolidate with or into another Person, except that, so long as
no Default or Event of Default exists or would result therefrom:

     (a) any Consolidated Entity of the Borrower may merge with the Borrower, provided that
the Borrower shall be the continuing or surviving Person, or any one or more other Consolidated
Entities, provided that when any Guarantor or any Co-Borrower is merging with another
Consolidated Entity of the Borrower, such Guarantor or Co-Borrower shall be the continuing or
surviving Person or the surviving entity shall assume all guarantee obligations of the Guarantor
and, if applicable, all obligations of such party as a Co-Borrower simultaneously with such merger;
and

     (b) any Person may merge or consolidate with or into the Borrower; provided that (i) such
action is not hostile, (ii) the Borrower shall be the continuing or surviving Person, (iii) the
other entity or entities involved in such merger or consolidation are engaged in a line of business

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in which the Borrower is permitted to engage and (iv) after giving effect to such merger or
consolidation, the Borrower shall be in compliance, on a pro forma basis, with Sections 7.03 and
7.11.

     7.05 Dispositions.

     Make any Disposition or enter into any agreement to make any Disposition, except:

     (a) Dispositions of obsolete or worn out property, whether now owned or hereafter acquired, in
the ordinary course of business;

     (b) Dispositions of inventory in the ordinary course of business;

     (c) Dispositions of equipment or real property to the extent that (i) such property is
exchanged for credit against the purchase price of similar replacement property or (ii) the
proceeds of such Disposition are reasonably promptly applied to the purchase price of such
replacement property;

     (d) Dispositions of property by any Consolidated Entity to the Borrower or to a wholly-owned
Consolidated Entity of the Borrower or other Person that will be a Guarantor upon the completion of
such Disposition; provided that if the transferor of such property is a Guarantor, the
transferee thereof must either be the Borrower or a Guarantor;

     (e) Any other Dispositions by the Borrower and/or the Consolidated Entities; provided
that, (i) to the extent any such Disposition involves property with a value or purchase price in
excess of $35,000,000, neither the Borrower nor any Consolidated Entity shall Dispose of such
property unless the Borrower has, within twenty (20) days prior to such disposition, delivered to
the Administrative Agent a Compliance Certificate showing projected compliance by the Loan Parties
with each of the financial covenants set forth herein; (ii) except to the extent the Administrative
Agent has provided written consent for such Disposition expressly noting the existence or projected
existence of such Event of Default, no Event of Default shall exist as of the date of such
Disposition or would result from such Disposition and (iii) to the extent such action would require
that a Guarantor be released, the Administrative Agent has provided written consent of such release
(which consent will not be withheld or unreasonably delayed to the extent a properly and fully
completed Compliance Certificate is provided by the Borrower pursuant to and in accordance with
subclause (i) above and such asset is the only asset of the applicable Guarantor or such asset is
the Capital Stock of such Guarantor).

     7.06 Restricted Payments.

     Declare or make, directly or indirectly, any Restricted Payment or Restricted Purchase, or
incur any obligation (contingent or otherwise) to do so, except that:

     (a) the Borrower may, during any taxable year, declare or make Restricted Payments if the
Borrower’s Consolidated Leverage Ratio, as of the end of the preceding taxable year, is less than
or equal to .60 to 1.00; provided, however, that if the Borrower’s Consolidated
Leverage Ratio is greater than .60 to 1.00 as of the end of any taxable year, the Borrower may,

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during the next taxable year, only declare or make Restricted Payments in an amount not to exceed
the minimum amount required to maintain REIT status;

     (b) the Consolidated Entities may make Restricted Payments to the Borrower and to any other
Consolidated Entities;

     (c) the Borrower and the Consolidated Entities may make cash distributions to their respective
shareholders or other owners for capital gains resulting from certain assets sales to the extent
necessary to avoid payment of taxes on such asset sales imposed under Sections 857(b)(3) and 4981
of the Code;

     (d) any Consolidated Entity (other than the Borrower) may make payments to any partner, member
or shareholder of such Person required to be made pursuant to any contractual obligations of such
Person or the Organization Documents of such Person (other than distributions to the equity holders
of the Borrower in their capacity as such); and

     (e) so long as there does not exist at such time and would not be caused thereby, (i) an Event
of Default under this Agreement, or (ii) any other Event of Default which has not been cured or
waived by the Required Lenders within a period of ninety (90) days from the date that the Borrower
knew or should have known of such Event of Default, the Borrower may make Restricted Purchases.

     7.07 Intentionally Omitted.

     7.08 Transactions with Affiliates.

     Enter into any material transaction of any kind with any Affiliate of the Borrower, whether or
not in the ordinary course of business, other than on fair and reasonable terms substantially as
favorable to the Borrower or such Affiliate as would be obtainable by the Borrower or such
Affiliate at the time in a comparable arm’s length transaction with a Person other than an
Affiliate except for agreements which are direct cost or direct revenue pass-through in nature.

     7.09 Intentionally Omitted.

     7.10 Use of Proceeds.

     Use the proceeds of any Credit Extension, whether directly or indirectly, and whether
immediately, incidentally or ultimately, to purchase or carry margin stock (within the meaning of
Regulation U of the FRB) or to extend credit to others for the purpose of purchasing or carrying
margin stock or to refund indebtedness originally incurred for such purpose.

     7.11 Financial Covenants.

     (a) Shareholders’ Equity. Permit Shareholders’ Equity at any time to be less than the
sum of (a) $421,906,100, plus (b) an amount equal to seventy percent (70.0%) of the amount of
proceeds (net of transaction costs) received by the Borrower or any wholly-owned Consolidated

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Entity (other than (i) issuances to the Borrower or a wholly-owned Consolidated Entity or (ii)
issuances the proceeds of which are used to refinance an existing equity issue) from the issuance
of shares of capital stock, warrants, options or other equity securities of any class or
character following June 30, 2007.

     (b) Consolidated Unencumbered Interest Coverage Ratio. Permit the Consolidated
Unencumbered Interest Coverage Ratio (as calculated as of the end of each calendar quarter of the
Borrower based on the information provided pursuant to Section 6.01 hereof) to be less than
1.75 to 1.00.

     (c) Consolidated Leverage Ratio. Permit the Consolidated Leverage Ratio at any time
during the term hereof to be greater than .60 to 1.00.

     (d) Consolidated Fixed Charge Coverage Ratio. Permit the Consolidated Fixed Charge
Coverage Ratio, as of the end of any calendar quarter of the Borrower based on the information
provided pursuant to Section 6.01 hereof, to be less than 1.50 to 1.00.

     7.12 Prepayment of Other Indebtedness, Etc.

     If any Event of Default has occurred and is continuing or would be directly or indirectly
caused as a result thereof, after the issuance thereof, (a) amend or modify any of the terms of any
Indebtedness of such Person (other than Indebtedness arising under the Loan Documents) if such
amendment or modification would add or change any terms in a manner adverse in any material respect
to such Person or to the Lenders, (b) shorten the final maturity or average life to maturity
thereof or require any payment thereon to be made sooner than originally scheduled or increase the
interest rate applicable thereto, or (c) make (or give any notice with respect thereto) any
voluntary or optional payment or prepayment thereof, or make (or give any notice with respect
thereto) any redemption or acquisition for value or defeasance (including without limitation, by
way of depositing money or securities with the trustee with respect thereto before due for the
purpose of paying when due), refund, refinance or exchange with respect thereto.

     7.13 Organization Documents; Subsidiaries.

     Permit any Loan Party to (a) amend, modify, waive or change its Organization Documents in a
manner materially adverse to the Lenders or in a manner that permits any Person (other than Thomas
G. Cousins) to, at any time, own more than twenty-five percent (25%) of the voting equity
securities of the Borrower, or (b) create, acquire or permit to exist or permit or cause any of
their Subsidiaries to create, acquire or permit to exist, any Foreign Subsidiaries, except to the
extent that the assets held in such Foreign Subsidiaries constitute less than ten percent (10.0%)
of Total Assets.

     7.14 Tax Driven Lease Transactions.

     Until any real property asset of the Combined Parties that is subject to a Tax Driven Lease
Transaction has been repurchased by a Loan Party as provided in the applicable Tax Driven Lease
Transaction Documents, without the prior written consent of the Required Lenders, modify or amend
any Tax Driven Lease Transaction Documents, or any other agreement related

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thereto, in any manner that would (i) cause a change in the accounting treatment of such
Tax Driven Lease Transaction under GAAP, (ii) adversely affect the ability of any Combined Party to
repurchase any property of the Combined Parties that is subject to a Tax Driven Lease Transaction
for nominal consideration or (iii) otherwise cause such transaction to not meet the terms of the
definition of Tax Driven Lease Transactions.

ARTICLE VIII

EVENTS OF DEFAULT AND REMEDIES

     8.01 Events of Default.

     Any of the following shall constitute an Event of Default:

     (a) Non-Payment. Any Borrower Party or any other Loan Party fails to pay (i) when and
as required to be paid herein, any amount of principal of any Loan or any L/C Obligation at
maturity, or (ii) within five (5) Business Days after the same becomes due, any interest on any
Loan or on any L/C Obligation, or any fee due hereunder, or (iii) within ten (10) Business Days
after the same becomes due, any other amount payable hereunder or under any other Loan Document; or

     (b) Specific Covenants. The Borrower (or, if applicable, any Borrower Party) fails to
perform or observe any term, covenant or agreement contained in any of Section 6.01,
6.02, 6.03, 6.05, 6.10, 6.11 or 6.12 or Article
VII; or

     (c) Other Defaults. Any Loan Party fails to perform or observe any other covenant or
agreement (not specified in subsection (a) or (b) above) contained in any Loan Document on its part
to be performed or observed and such failure continues for thirty (30) days after receipt of notice
by the Loan Parties; or

     (d) Representations and Warranties. Any representation, warranty or certification
made or deemed made by or on behalf of the Borrower or any other Loan Party herein, in any other
Loan Document, or in any document delivered in connection herewith or therewith shall be incorrect
or misleading in any material respect when made or deemed made; or

     (e) Cross-Default.

     (i) Any Loan Party or any Consolidated Entity (A) fails to make any payment when due
(whether by scheduled maturity, required prepayment, acceleration, demand, or otherwise) in
respect of any recourse Indebtedness for Money Borrowed or Monetized Guarantee (other than
Indebtedness hereunder and Indebtedness under Swap Contracts) having an aggregate principal
amount (excluding undrawn committed or available amounts and including amounts owing to all
creditors under any combined or syndicated credit arrangement) of more than the Threshold
Amount, or (B) fails to observe or perform any other agreement or condition relating to any
such Indebtedness for Money Borrowed or Monetized Guarantee or contained in any instrument
or agreement evidencing, securing or relating thereto, or any other event occurs and (C) all
applicable grace and/or cure period with respect to such Indebtedness for Money Borrowed has

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expired, the effect of which default or other event is to cause, or to permit the holder or
holders of such Indebtedness for Money Borrowed or the beneficiary or beneficiaries of
such Monetized Guarantee (or a trustee or agent on behalf of such holder or holders or
beneficiary or beneficiaries) to cause, with the giving of notice if required, such
Indebtedness for Money Borrowed to be demanded or to become due or to be repurchased,
prepaid, defeased or redeemed (automatically or otherwise), or an offer to repurchase,
prepay, defease or redeem such Indebtedness for Money Borrowed to be made, prior to its
stated maturity, or such Monetized Guarantee to become payable or cash collateral in respect
thereof to be demanded; or

     (ii) there occurs under any Swap Contract an Early Termination Date (as defined in such
Swap Contract) resulting from (A) any event of default under such Swap Contract as to which
any Loan Party or any Consolidated Entity is the Defaulting Party (as defined in such Swap
Contract) or (B) any Termination Event (as so defined) under such Swap Contract as to which
any Loan Party or any Consolidated Entity is an Affected Party (as so defined) and, in
either event, the Swap Termination Value owed by any Loan Party or such Consolidated Entity
as a result thereof is greater than the Threshold Amount; or

     (f) Insolvency Proceedings, Etc. Any Loan Party or any Consolidated Entity institutes
or consents to the institution of any proceeding against it under any Debtor Relief Law, or makes
an assignment for the benefit of creditors; or applies for or consents to the appointment of any
receiver, trustee, custodian, conservator, liquidator, rehabilitator or similar officer for it or
for all or any material part of its property; or any receiver, trustee, custodian, conservator,
liquidator, rehabilitator or similar officer is appointed without the application or consent of
such Person and the appointment continues undischarged or unstayed for 60 calendar days; or any
proceeding under any Debtor Relief Law relating to any such Person or to all or any material part
of its property is instituted without the consent of such Person and continues undismissed or
unstayed for 60 calendar days, or an order for relief is entered in any such proceeding; or

     (g) Inability to Pay Debts; Attachment. Any Loan Party or any Consolidated Entity
admits in writing its inability or otherwise fails generally to pay its debts as they become due;
or

     (h) Judgments. There is entered against any Loan Party or any Consolidated Entity (i)
a final judgment or order for the payment of money in an aggregate amount exceeding the Threshold
Amount (to the extent not covered by independent third-party insurance as to which the insurer does
not dispute coverage), or (ii) any one or more non-monetary final judgments that have, or could
reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect and, in
either case, (A) enforcement proceedings are commenced by any creditor upon such judgment or order,
or (B) there is a period of thirty (30) consecutive days during which a stay of enforcement of such
judgment, by reason of a pending appeal or otherwise, is not in effect; or

     (i) ERISA. (i) An ERISA Event occurs with respect to a Pension Plan or Multiemployer
Plan which has resulted or could reasonably be expected to result in liability of the Borrower
under Title IV of ERISA to the Pension Plan, Multiemployer Plan or the PBGC in

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an aggregate amount in excess of the Threshold Amount, or (ii) the Borrower or any ERISA
Affiliate fails to pay when due, after the expiration of any applicable grace period, any
installment payment with respect to its withdrawal liability under Section 4201 of ERISA under a
Multiemployer Plan in an aggregate amount in excess of the Threshold Amount; or

     (j) Invalidity of Loan Documents. Any Loan Document, at any time after its execution
and delivery and for any reason other than as expressly permitted hereunder or satisfaction in full
of all the Obligations, ceases to be in full force and effect with respect to any Loan Party; or
any Loan Party other than the Administrative Agent or one of the Lenders contests in any manner the
validity or enforceability of any Loan Document; or any Loan Party denies that it has any or
further liability or obligation under any Loan Document, or purports to revoke, terminate or
rescind any Loan Document; or

     (k) Change of Control. There occurs any Change of Control with respect to the
Borrower.

     8.02 Remedies Upon Event of Default.

     If any Event of Default occurs and is continuing, the Administrative Agent shall, at the
request of, or may, with the consent of, the Required Lenders, take any or all of the following
actions:

     (a) declare the commitment of each Lender to make Loans and any obligation of the L/C Issuer
to make L/C Credit Extensions to be terminated, whereupon such commitments and obligation shall be
terminated;

     (b) declare the unpaid principal amount of all outstanding Loans, all interest accrued and
unpaid thereon, and all other amounts owing or payable hereunder or under any other Loan Document
to be immediately due and payable, without presentment, demand, protest or other notice of any
kind, all of which are hereby expressly waived by the Borrower Parties;

     (c) require that the Borrower Parties Cash Collateralize the L/C Obligations (in an amount
equal to the then Outstanding Amount thereof); and

     (d) exercise on behalf of itself and the Lenders all rights and remedies available to it and
the Lenders under the Loan Documents or applicable law;

provided, however, that upon the occurrence of an actual or deemed entry of an
order for relief with respect to any of the Borrower Parties under the Bankruptcy Code of the
United States, the obligation of each Lender to make Loans and any obligation of the L/C Issuer to
make L/C Credit Extensions shall automatically terminate, the unpaid principal amount of all
outstanding Loans and all interest and other amounts as aforesaid shall automatically become due
and payable, and the obligation of the Borrower Parties to Cash Collateralize the L/C Obligations
as aforesaid shall automatically become effective, in each case without further act of the
Administrative Agent or any Lender.

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     8.03 Application of Funds.

     After the exercise of remedies provided for in Section 8.02 (or after the Loans have
automatically become immediately due and payable and the L/C Obligations have automatically been
required to be Cash Collateralized as set forth in the proviso to Section 8.02), any
amounts received on account of the Obligations shall be applied by the Administrative Agent in the
following order:

     First, to payment of that portion of the Obligations constituting fees, indemnities,
expenses and other amounts (including Attorney Costs and amounts payable under Article III)
payable to the Administrative Agent in its capacity as such;

     Second, to payment of that portion of the Obligations constituting fees, indemnities
and other amounts (other than principal and interest) payable to the Lenders (including Attorney
Costs and amounts payable under Article III), ratably among them in proportion to the
amounts described in this clause Second payable to them;

     Third, to payment of that portion of the Obligations constituting accrued and unpaid
interest on the Loans, L/C Borrowings and other Obligations, ratably among the Lenders in
proportion to the respective amounts described in this clause Third payable to them;

     Fourth, to payment of that portion of the Obligations constituting unpaid principal of
the Loans, L/C Borrowings and L/C Obligations (to the extent of the aggregate undrawn amounts of
outstanding Letters of Credit), ratably among the Lenders and, in the case of L/C Obligations, to
the Administrative Agent (for the account of the L/C Issuer to Cash Collateralize that portion of
L/C Obligations comprised of the aggregate undrawn amount of Letters of Credit), in proportion to
the respective amounts described in this clause Fourth held by them; provided,
that, to the extent Obligations constituting unpaid principal and L/C Borrowings remain
unpaid or L/C Obligations are not fully Cash Collateralized after application of all amounts as
provided in this clause Fourth, then, as and when Letters of Credit expire without being drawn, the
Cash Collateral held therefor shall be paid ratably among the Lenders and the Administrative Agent
as first provided in this clause Fourth until the unpaid principal of all Loans and L/C Borrowings
has been paid in full and all L/C Obligations have been fully Cash Collateralized;

     Last, the balance, if any, after all of the Obligations have been indefeasibly paid in
full, to the Borrower or as otherwise required by Law.

Subject to Section 2.03(c), amounts used to Cash Collateralize the aggregate undrawn amount
of Letters of Credit pursuant to clause Fourth above shall be applied to satisfy drawings
under such Letters of Credit as they occur. If any amount remains on deposit as Cash Collateral
after all Letters of Credit have either been fully drawn or expired, such remaining amount shall be
applied to the other Obligations, if any, in the order set forth above.

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ARTICLE IX

ADMINISTRATIVE AGENT

     9.01 Appointment and Authorization of Administrative Agent.

     (a) Each Lender hereby irrevocably appoints, designates and authorizes the Administrative
Agent to take such action on its behalf under the provisions of this Agreement and each other Loan
Document and to exercise such powers and perform such duties as are expressly delegated to it by
the terms of this Agreement or any other Loan Document, together with such powers as are reasonably
incidental thereto. Notwithstanding any provision to the contrary contained elsewhere herein or in
any other Loan Document, the Administrative Agent shall not have any duties or responsibilities,
except those expressly set forth herein, nor shall the Administrative Agent have or be deemed to
have any fiduciary relationship with any Lender or participant, and no implied covenants,
functions, responsibilities, duties, obligations or liabilities shall be read into this Agreement
or any other Loan Document or otherwise exist against the Administrative Agent. Without limiting
the generality of the foregoing sentence, the use of the term “agent” herein and in the other Loan
Documents with reference to the Administrative Agent is not intended to connote any fiduciary or
other implied (or express) obligations arising under agency doctrine of any applicable Law.
Instead, such term is used merely as a matter of market custom, and is intended to create or
reflect only an administrative relationship between independent contracting parties.

     (b) The L/C Issuer shall act on behalf of the Revolving Credit Lenders with respect to any
Letters of Credit issued by it and the documents associated therewith, and the L/C Issuer shall
have all of the benefits and immunities (i) provided to the Administrative Agent in this
Article IX with respect to any acts taken or omissions suffered by the L/C Issuer in
connection with Letters of Credit issued by it or proposed to be issued by it and the applications
and agreements for letters of credit pertaining to such Letters of Credit as fully as if the term
“Administrative Agent” as used in this Article IX and in the definition of “Agent-Related
Person” included the L/C Issuer with respect to such acts or omissions, and (ii) as additionally
provided herein with respect to the L/C Issuer.

     9.02 Delegation of Duties.

     The Administrative Agent may execute any of its duties under this Agreement or any other Loan
Document by or through agents, employees or attorneys-in-fact and shall be entitled to advice of
counsel and other consultants or experts concerning all matters pertaining to such duties. The
Administrative Agent shall not be responsible for the negligence or misconduct of any agent or
attorney-in-fact that it selects in the absence of gross negligence or willful misconduct.

     9.03 Liability of Administrative Agent.

     No Agent-Related Person shall (a) be liable for any action taken or omitted to be taken by any
of them under or in connection with this Agreement or any other Loan Document or the transactions
contemplated hereby (except for its own gross negligence or willful misconduct in

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connection with
its duties expressly set forth herein), or (b) be responsible in any manner to any
Lender or participant for any recital, statement, representation or warranty made by any Loan
Party or any officer thereof, contained herein or in any other Loan Document, or in any
certificate, report, statement or other document referred to or provided for in, or received by the
Administrative Agent under or in connection with, this Agreement or any other Loan Document, or the
validity, effectiveness, genuineness, enforceability or sufficiency of this Agreement or any other
Loan Document, or for any failure of any Loan Party or any other party to any Loan Document to
perform its obligations hereunder or thereunder. No Agent-Related Person shall be under any
obligation to any Lender or participant to ascertain or to inquire as to the observance or
performance of any of the agreements contained in, or conditions of, this Agreement or any other
Loan Document, or to inspect the properties, books or records of any Loan Party or any Affiliate
thereof.

     9.04 Reliance by Administrative Agent.

     (a) The Administrative Agent shall be entitled to rely, and shall be fully protected in
relying, upon any writing, communication, signature, resolution, representation, notice, consent,
certificate, affidavit, letter, telegram, facsimile, telex or telephone message, electronic mail
message, statement or other document or conversation believed by it to be genuine and correct and
to have been signed, sent or made by the proper Person or Persons, and upon advice and statements
of legal counsel (including counsel to any Loan Party), independent accountants and other experts
selected by the Administrative Agent. The Administrative Agent shall be fully justified in failing
or refusing to take any action under any Loan Document unless it shall first receive such advice or
concurrence of the Required Lenders as it deems appropriate and, if it so requests, it shall first
be indemnified to its satisfaction by the Lenders against any and all liability and expense which
may be incurred by it by reason of taking or continuing to take any such action. The
Administrative Agent shall in all cases be fully protected in acting, or in refraining from acting,
under this Agreement or any other Loan Document in accordance with a request or consent of the
Required Lenders (or such greater number of Lenders as may be expressly required hereby in any
instance) and such request and any action taken or failure to act pursuant thereto shall be binding
upon all the Lenders.

     (b) For purposes of determining compliance with the conditions specified in Section
4.01, each Lender that has signed this Agreement shall be deemed to have consented to, approved
or accepted or to be satisfied with, each document or other matter required thereunder to be
consented to or approved by or acceptable or satisfactory to a Lender unless the Administrative
Agent shall have received notice from such Lender prior to the proposed Closing Date specifying its
objection thereto.

     9.05 Notice of Default.

     The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of
any Default, except with respect to defaults in the payment of principal, interest and fees
required to be paid to the Administrative Agent for the account of the Lenders, unless the
Administrative Agent shall have received written notice from a Lender or the Borrower referring to
this Agreement, describing such Default and stating that such notice is a “notice of

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default.” The Administrative Agent will notify the Lenders of its receipt of any such notice. The
Administrative Agent shall take such action with respect to such Default as may be directed by
the Required Lenders in accordance with Article VIII; provided, however,
that unless and until the Administrative Agent has received any such direction, the Administrative
Agent may (but shall not be obligated to) take such action, or refrain from taking such action,
with respect to such Default as it shall deem advisable or in the best interest of the Lenders.

     9.06 Credit Decision; Disclosure of Information by Administrative Agent.

     Each Lender acknowledges that no Agent-Related Person has made any representation or warranty
to it, and that no act by the Administrative Agent hereafter taken, including any consent to and
acceptance of any assignment or review of the affairs of any Loan Party or any Affiliate thereof,
shall be deemed to constitute any representation or warranty by any Agent-Related Person to any
Lender as to any matter, including whether Agent-Related Persons have disclosed material
information in their possession. Each Lender represents to the Administrative Agent that it has,
independently and without reliance upon any Agent-Related Person and based on such documents and
information as it has deemed appropriate, made its own appraisal of and investigation into the
business, prospects, operations, property, financial and other condition and creditworthiness of
the Loan Parties and their respective Subsidiaries, and all applicable bank or other regulatory
Laws relating to the transactions contemplated hereby, and made its own decision to enter into this
Agreement and to extend credit to the Borrower Parties and the other Loan Parties hereunder. Each
Lender also represents that it will, independently and without reliance upon any Agent-Related
Person and based on such documents and information as it shall deem appropriate at the time,
continue to make its own credit analysis, appraisals and decisions in taking or not taking action
under this Agreement and the other Loan Documents, and to make such investigations as it deems
necessary to inform itself as to the business, prospects, operations, property, financial and other
condition and creditworthiness of the Borrower Parties and the other Loan Parties. Except for
notices, reports and other documents expressly required to be furnished to the Lenders by the
Administrative Agent herein, the Administrative Agent shall not have any duty or responsibility to
provide any Lender with any credit or other information concerning the business, prospects,
operations, property, financial and other condition or creditworthiness of any of the Loan Parties
or any of their respective Affiliates which may come into the possession of any Agent-Related
Person.

     9.07 Indemnification of Administrative Agent.

     Whether or not the transactions contemplated hereby are consummated, the Lenders shall
indemnify upon demand each Agent-Related Person (to the extent not reimbursed by or on behalf of
any Loan Party and without limiting the obligation of any Loan Party to do so), pro rata, and hold
harmless each Agent-Related Person from and against any and all Indemnified Liabilities incurred by
it; provided, however, that no Lender shall be liable for the payment to any
Agent-Related Person of any portion of such Indemnified Liabilities to the extent determined in a
final, nonappealable judgment by a court of competent jurisdiction to have resulted from such
Agent-Related Person’s own gross negligence or willful misconduct; provided,
however, that no action taken in accordance with the directions of the Required Lenders
shall be deemed to constitute gross negligence or willful misconduct for purposes of this Section.
Without

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limitation of the foregoing, each Lender shall reimburse the Administrative Agent upon
demand for its ratable share of any costs or out-of-pocket expenses (including Attorney Costs)
incurred by the Administrative Agent in connection with the preparation, execution, delivery,
administration, modification, amendment or enforcement (whether through negotiations, legal
proceedings or otherwise) of, or legal advice in respect of rights or responsibilities under, this
Agreement, any other Loan Document, or any document contemplated by or referred to herein, to the
extent that the Administrative Agent is not reimbursed for such expenses by or on behalf of the
Borrower Parties. The undertaking in this Section shall survive termination of the Commitments,
the payment of all other Obligations and the resignation of the Administrative Agent.

     9.08 Administrative Agent in its Individual Capacity.

     Bank of America and its Affiliates may make loans to, issue letters of credit for the account
of, accept deposits from, acquire equity interests in and generally engage in any kind of banking,
trust, financial advisory, underwriting or other business with each of the Loan Parties and their
respective Affiliates as though Bank of America were not the Administrative Agent or the L/C Issuer
hereunder and without notice to or consent of the Lenders. The Lenders acknowledge that, pursuant
to such activities, Bank of America or its Affiliates may receive information regarding any Loan
Party or its Affiliates (including information that may be subject to confidentiality obligations
in favor of such Loan Party or such Affiliate) and acknowledge that the Administrative Agent shall
be under no obligation to provide such information to them. With respect to its Loans, Bank of
America shall have the same rights and powers under this Agreement as any other Lender and may
exercise such rights and powers as though it were not the Administrative Agent or the L/C Issuer,
and the terms “Lender” and “Lenders” include Bank of America in its individual capacity.

     9.09 Successor Administrative Agent.

     The Administrative Agent may be removed at the written direction of the Required Lenders to
the extent the Administrative Agent is shown to be grossly negligent in the performance of its
material obligations and/or duties hereunder or to have engaged in willful misconduct in the
performance of such obligations and/or duties. The Administrative Agent may resign as
Administrative Agent upon 30 days’ notice to the Lenders and the Borrower; provided that any such
resignation by or removal of Bank of America shall also constitute its resignation or removal (as
applicable) as L/C Issuer and Swing Line Lender. If the Administrative Agent resigns or is
otherwise removed under this Agreement, the Required Lenders shall appoint from among the Lenders a
successor administrative agent for the Lenders, which successor administrative agent shall be
consented to by the Borrower at all times other than during the existence of an Event of Default
(which consent of the Borrower shall not be unreasonably withheld or delayed). If no successor
administrative agent is appointed prior to the effective date of the resignation or removal of the
Administrative Agent, the Administrative Agent may appoint, after consulting with the Lenders and
the Borrower, a successor administrative agent from among the Lenders (and, in the case of a
removal of the Administrative Agent, with the consent of the Borrower, such consent not to be
unreasonably withheld). Upon the acceptance of its appointment as successor administrative agent
hereunder, the Person acting as such successor

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administrative agent shall succeed to all the rights, powers and duties of the retiring
Administrative Agent, L/C Issuer and Swing Line Lender and the respective terms
“Administrative Agent,” “L/C Issuer” and “Swing Line Lender” shall mean such successor
administrative agent, Letter of Credit issuer and swing line lender, and the retiring
Administrative Agent’s appointment, powers and duties as Administrative Agent shall be terminated
and the retiring L/C Issuer’s and Swing Line Lender’s rights, powers and duties as such shall be
terminated, without any other or further act or deed on the part of such retiring L/C Issuer or
Swing Line Lender or any other Lender, other than the obligation of the successor L/C Issuer to
issue letters of credit in substitution for the Letters of Credit, if any, outstanding at the time
of such succession or to make other arrangements satisfactory to the retiring L/C Issuer to
effectively assume the obligations of the retiring L/C Issuer with respect to such Letters of
Credit. After any retiring or removed Administrative Agent’s resignation or removal (as
applicable) hereunder as Administrative Agent, the provisions of this Article IX and
Sections 10.04 and 10.05 shall inure to its benefit as to any actions taken or
omitted to be taken by it while it was Administrative Agent, L/C Issuer or Swing Line Lender under
this Agreement. If no successor administrative agent has accepted appointment as Administrative
Agent by the date which is 30 days following a retiring or removed Administrative Agent’s notice of
resignation or its removal by the Lenders, the retiring/removed Administrative Agent’s resignation
shall nevertheless thereupon become effective and the Lenders shall perform all of the duties of
the Administrative Agent hereunder until such time, if any, as the Required Lenders appoint a
successor agent as provided for above.

     9.10 Administrative Agent May File Proofs of Claim.

     In case of the pendency of any receivership, insolvency, liquidation, bankruptcy,
reorganization, arrangement, adjustment, composition or other judicial proceeding relative to any
Loan Party, the Administrative Agent (irrespective of whether the principal of any Loan or L/C
Obligation shall then be due and payable as herein expressed or by declaration or otherwise and
irrespective of whether the Administrative Agent shall have made any demand on the Borrower
Parties) shall be entitled and empowered, by intervention in such proceeding or otherwise

     (a) to file and prove a claim for the whole amount of the principal and interest owing
and unpaid in respect of the Loans, L/C Obligations and all other Obligations that are owing
and unpaid and to file such other documents as may be necessary or advisable in order to
have the claims of the Lenders and the Administrative Agent (including any claim for the
reasonable compensation, expenses, disbursements and advances of the Lenders and the
Administrative Agent and their respective agents and counsel and all other amounts due the
Lenders and the Administrative Agent under Sections 2.03(i) and (j),
2.09 and 10.04) allowed in such judicial proceeding; and

     (b) to collect and receive any monies or other property payable or deliverable on any
such claims and to distribute the same;

and any custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar official
in any such judicial proceeding is hereby authorized by each Lender to make such payments to the
Administrative Agent and, in the event that the Administrative Agent shall consent to the making

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of such payments directly to the Lenders, to pay to the Administrative Agent any amount due for
the reasonable compensation, expenses, disbursements and advances of the Administrative Agent and
its agents and counsel, and any other amounts due the Administrative Agent under Sections
2.09 and 10.04.

     Nothing contained herein shall be deemed to authorize the Administrative Agent to authorize or
consent to or accept or adopt on behalf of any Lender any plan of reorganization, arrangement,
adjustment or composition affecting the Obligations or the rights of any Lender or to authorize the
Administrative Agent to vote in respect of the claim of any Lender in any such proceeding.

     9.11 Guaranty/Borrower Party Matters.

     The Lenders irrevocably authorize the Administrative Agent, at its option and in its
discretion to release any Guarantor from its obligations under the Guaranty if:

     (a) (i) such Person is the subject of or enters into a Disposition pursuant to
Section 7.05(e) hereof, (ii) the Administrative Agent receives a Compliance
Certificate with respect to such Disposition, (iii) such Compliance Certificate is properly
and fully completed pursuant to and in accordance with Section 7.05(e)(i) and (iv)
the asset subject to such Disposition is the only asset of the applicable Guarantor or is
the Capital Stock of such Guarantor;

     (b) (i) such Person enters into mortgage Indebtedness that is permitted by Section
7.01(a) hereof and the terms of such mortgage Indebtedness prohibit such Person from
being a Guarantor hereunder, (ii) the Administrative Agent receives a Compliance Certificate
with respect to such mortgage Indebtedness demonstrating compliance with the requirements of
Section 7.01(a)(i) hereof and (iii) the asset being subject to such mortgage
Indebtedness is the only asset of the applicable Guarantor;

     (c) such Person otherwise ceases to be a Consolidated Entity as a result of a
transaction permitted hereunder; or

     (d) such Guarantor, following any transaction not prohibited by the terms of this
Agreement, ceases to hold any material assets.

Upon request by the Administrative Agent at any time, the Required Lenders will confirm in writing
the Administrative Agent’s authority to release any Guarantor from its obligations under the
Guaranty pursuant to this Section 9.11. The Administrative Agent shall, at the request of
the Borrower, consent to the release of any Guarantor hereunder or otherwise provide evidence of
such release reasonably acceptable to the Borrower to the extent such release is permitted pursuant
to clauses (a), (b) or (c) above.

The Lenders further irrevocably authorize the Administrative Agent to qualify, reject the
qualification of and permit the release of Co-Borrowers in accordance with the provisions of
Sections 6.12(b) and (c) hereof.

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     9.12 Other Agents; Arrangers and Managers.

     None of the Lenders or other Persons identified on the facing page or signature pages of this
Agreement as a “syndication agent,” “documentation agent,” “managing agent,” “co-agent,” “book
manager,” “lead manager,” “arranger,” “lead arranger” or “co-arranger” shall have any right, power,
obligation, liability, responsibility or duty under this Agreement other than, in the case of such
Lenders, those applicable to all Lenders as such. Without limiting the foregoing, none of the
Lenders or other Persons so identified shall have or be deemed to have any fiduciary relationship
with any Lender. Each Lender acknowledges that it has not relied, and will not rely, on any of the
Lenders or other Persons so identified in deciding to enter into this Agreement or in taking or not
taking action hereunder.

ARTICLE X

MISCELLANEOUS

     10.01 Amendments, Etc.

     No amendment or waiver of any provision of this Agreement or any other Loan Document, and no
consent to any departure by the Borrower Parties or any other Loan Party therefrom, shall be
effective unless in writing signed by the Required Lenders and the Borrower Parties or the
applicable Loan Party, as the case may be, and acknowledged by the Administrative Agent, and each
such waiver or consent shall be effective only in the specific instance and for the specific
purpose for which given; provided, however, that no such amendment, waiver or
consent shall:

     (a) waive any condition set forth in (i) Section 4.01(a) without the written consent
of each Lender and (ii) without limiting the generality of clause (a)(i) preceding, Section
4.02 as to any Credit Extension under the Revolving Credit Facility without the written consent
of the Required Revolving Credit Lenders;

     (b) except as permitted by Section 2.14 hereof, extend or increase the Commitment of
any Lender (or reinstate any Commitment of any Lender terminated pursuant to Section 8.02)
without the written consent of such Lender;

     (c) postpone any date fixed by this Agreement or any other Loan Document for any payment or
mandatory prepayment of principal, interest or fees due to the Lenders (or any of them) or any
scheduled or mandatory reduction of the Term Commitments or the Revolving Credit Commitments
hereunder or under any other Loan Document without the written consent of each Lender directly
affected thereby;

     (d) reduce the principal of, or the rate of interest specified herein on, any Loan or L/C
Borrowing, or (subject to clause (iv) of the second proviso to this Section 10.01) any fees
payable hereunder or under any other Loan Document without the written consent of each Lender
directly affected thereby; provided, however, that only the consent of the Required
Lenders shall be necessary to amend the definition of “Default Rate” or to waive any obligation of
the Borrower Parties to pay interest or Letter of Credit Fees at the Default Rate;

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     (e) change Section 2.13 or Section 8.03 in a manner that would alter the pro
rata sharing of payments required thereby without the written consent of each Lender;

     (f) change (i) any provision of this Section or the definition of “Required Lenders” or any
other provision hereof specifying the number or percentage of Lenders required to amend, waive or
otherwise modify any rights hereunder or make any determination or grant any consent hereunder,
without the written consent of each Lender or (ii) definition of “Required Revolving Credit
Lenders” or “Required Term Lenders” without the written consent of each Lender under the applicable
Facility;

     (g) except as expressly provided in this Agreement or the other Loan Documents, release any
Guarantor from the Guaranty without the written consent of each Lender;

     (h) waive any Event of Default based on a failure to pay principal, interest or fees due
hereunder (as referenced in Section 8.01(a)) without the written consent of each Lender;

     (i) permit the Borrower or any Borrower Party to assign any of its obligations hereunder,
except in accordance with Section 10.07(a) hereof without the written consent of each
Lender; or

     (j) impose any greater restriction on the ability of any Lender under a Facility to assign any
of its rights or obligations hereunder without the written consent of (i) the Required Term
Lenders, if such Facility is the Term Facility or (ii) the Required Revolving Credit Lenders, if
such Facility is the Revolving Credit Facility;

and, provided further, that (i) no amendment, waiver or consent shall, unless in
writing and signed by the L/C Issuer in addition to the Lenders required above, affect the rights
or duties of the L/C Issuer under this Agreement or any Letter of Credit Application relating to
any Letter of Credit issued or to be issued by it; (ii) no amendment, waiver or consent shall,
unless in writing and signed by the Swing Line Lender in addition to the Lenders required above,
affect the rights or duties of the Swing Line Lender under this Agreement; (iii) no amendment,
waiver or consent shall, unless in writing and signed by the Administrative Agent in addition to
the Lenders required above, affect the rights or duties of the Administrative Agent under this
Agreement or any other Loan Document; and (iv) the Fee Letter may be amended, or rights or
privileges thereunder waived, in a writing executed only by the parties thereto (but not in
contravention of Section 10.01(d) above with respect to fees payable to any Lender).
Notwithstanding anything to the contrary herein, no Defaulting Lender shall have any right to
approve or disapprove any amendment, waiver or consent hereunder for so long as such Lender is a
Defaulting Lender, except that the Commitment of such Lender may not be increased or extended
without the consent of such Lender.

     10.02 Notices and Other Communications; Facsimile Copies.

     (a) General. Unless otherwise expressly provided herein, all notices and other
communications provided for hereunder shall be in writing (including by facsimile transmission).
All such written notices shall be mailed certified or registered mail, faxed or delivered to the

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applicable address, facsimile number or (subject to subsection (c) below) electronic mail address,
and all notices and other communications expressly permitted hereunder to be given by telephone
shall be made to the applicable telephone number, as follows:

     (i) if to the Borrower, any other Borrower Party, any Guarantor, the Administrative
Agent, the L/C Issuer or the Swing Line Lender, to the address, facsimile number, electronic
mail address or telephone number specified for such Person on Schedule 10.02 or to
such other address, facsimile number, electronic mail address or telephone number as shall
be designated by such party in a notice to the other parties; and

     (ii) if to any other Lender, to the address, facsimile number, electronic mail address
or telephone number specified in its Administrative Questionnaire or to such other address,
facsimile number, electronic mail address or telephone number as shall be designated by such
party in a notice to the Borrower, the Administrative Agent, the L/C Issuer and the Swing
Line Lender.

Notices sent by hand or overnight courier service, or mailed by certified or registered mail, shall
be deemed to have been given when received; notices sent by facsimile shall be deemed to have been
given when sent (except that, if not given during normal business hours for the recipient, shall be
deemed to have been given at the opening of business on the next business day for the recipient).
Notices delivered through electronic communications to the extent provided in subsection (b) below,
shall be effective as provided in such subsection (b). Notwithstanding the foregoing, notices
relating to Defaults, Events of Default or the exercise of remedies hereunder shall only be
delivered by hand (and signed for by a Person at the offices of or the mail facilities used by the
Borrower), overnight courier service or certified or registered mail.

     (b) Electronic Communications. Notices and other communications to the Lenders
hereunder may be delivered or furnished by electronic communication (including e-mail and Internet
or intranet websites) pursuant to procedures approved by the Administrative Agent, provided
that the foregoing shall not apply to notices to any Lender pursuant to Article II if such
Lender has notified the Administrative Agent that it is incapable of receiving notices under such
Article by electronic communication. The Administrative Agent or the Borrower may, in its
discretion, agree to accept notices and other communications to it hereunder by electronic
communications pursuant to procedures approved by it, provided that approval of such
procedures may be limited to particular notices or communications.

     (c) The Platform. THE PLATFORM IS PROVIDED “AS IS” AND “AS AVAILABLE.” THE AGENT
PARTIES (AS DEFINED BELOW) DO NOT WARRANT THE ACCURACY OR COMPLETENESS OF THE BORROWER MATERIALS OR
THE ADEQUACY OF THE PLATFORM, AND EXPRESSLY DISCLAIM LIABILITY FOR ERRORS IN OR OMISSIONS FROM THE
BORROWER MATERIALS. NO WARRANTY OF ANY KIND, EXPRESS, IMPLIED OR STATUTORY, INCLUDING ANY WARRANTY
OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NON-INFRINGEMENT OF THIRD PARTY RIGHTS OR
FREEDOM FROM VIRUSES OR OTHER CODE DEFECTS, IS MADE BY ANY AGENT PARTY IN CONNECTION WITH THE
BORROWER MATERIALS OR THE PLATFORM. In no event shall the Administrative

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Agent or any of its Related Parties (collectively, the “Agent Parties”) have any liability to any Borrower
Party, any Lender, the L/C Issuer or any other Person for losses, claims, damages, liabilities or
expenses of any kind (whether in tort, contract or otherwise) arising out of any Borrower Party’s
or the Administrative Agent’s transmission of Borrower Materials through the
Internet, except to the extent that such losses, claims, damages, liabilities or expenses are
determined by a court of competent jurisdiction by a final and nonappealable judgment to have
resulted from the gross negligence or willful misconduct of such Agent Party; provided,
however, that in no event shall any Agent Party have any liability to any Borrower Party,
any Lender, the L/C Issuer or any other Person for indirect, special, incidental, consequential or
punitive damages (as opposed to direct or actual damages).

     (d) Effectiveness of Facsimile Documents and Signatures. Loan Documents may be
transmitted and/or signed by facsimile. The effectiveness of any such documents and signatures
shall, subject to applicable Law, have the same force and effect as manually-signed originals and
shall be binding on all Loan Parties, the Administrative Agent and the Lenders. The Administrative
Agent may also require that any such documents and signatures be confirmed by a manually-signed
original thereof; provided, however, that the failure to request or deliver the
same shall not limit the effectiveness of any facsimile document or signature.

     (e) Reliance by Administrative Agent and Lenders. The Administrative Agent and the
Lenders shall be entitled to rely and act upon any notices (including telephonic Loan Notices)
purportedly given by or on behalf of the Borrower or any other Borrower Party even if (i) such
notices were not made in a manner specified herein, were incomplete or were not preceded or
followed by any other form of notice specified herein, or (ii) the terms thereof, as understood by
the recipient, varied from any confirmation thereof. The Borrower Parties shall indemnify each
Agent-Related Person and each Lender from all losses, costs, expenses and liabilities resulting
from the reliance by such Person on each notice purportedly given by or on behalf of the Borrower
or any other Borrower Party. All telephonic notices to and other communications with the
Administrative Agent may be recorded by the Administrative Agent, and each of the parties hereto
hereby consents to such recording.

     (f) Change of Address, Etc. Each of the Borrower and the Administrative Agent, may
change its address, telecopier or telephone number for notices and other communications hereunder
by notice to the other parties hereto. Each other Lender may change its address, telecopier or
telephone number for notices and other communications hereunder by notice to the Borrower and the
Administrative Agent. In addition, each Lender agrees to notify the Administrative Agent from time
to time to ensure that the Administrative Agent has on record (i) an effective address, contact
name, telephone number, telecopier number and electronic mail address to which notices and other
communications may be sent and (ii) accurate wire instructions for such Lender. Furthermore, each
Public Lender agrees to cause at least one individual at or on behalf of such Public Lender to at
all times have selected the “Private Side Information” or similar designation on the content
declaration screen of the Platform in order to enable such Public Lender or its delegate, in
accordance with such Public Lender’s compliance procedures and applicable Law, including United
States Federal and state securities Laws, to make reference to Borrower Materials that are not made
available through the “Public Side Information” portion of the Platform and that may contain
material non-public information with

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respect to the Borrower or its securities for purposes of United States Federal or state securities Laws.

     10.03 No Waiver; Cumulative Remedies.

     No failure by any Lender or the Administrative Agent to exercise, and no delay by any such
Person in exercising, any right, remedy, power or privilege hereunder shall operate as a waiver
thereof; nor shall any single or partial exercise of any right, remedy, power or privilege
hereunder preclude any other or further exercise thereof or the exercise of any other right,
remedy, power or privilege. The rights, remedies, powers and privileges herein provided are
cumulative and not exclusive of any rights, remedies, powers and privileges provided by law.

     10.04 Attorney Costs, Expenses and Taxes.

     The Borrower Parties agree (a) to pay or reimburse the Administrative Agent for all reasonable
costs and expenses incurred in connection with the preparation, negotiation and execution of this
Agreement and the other Loan Documents and any amendment, waiver, consent or other modification of
the provisions hereof and thereof (whether or not the transactions contemplated hereby or thereby
are consummated), and the consummation and administration of the transactions contemplated hereby
and thereby, including all Attorney Costs, and (b) to pay or reimburse the Administrative Agent and
each Lender for all reasonable costs and expenses incurred in connection with the enforcement,
attempted enforcement, or preservation of any rights or remedies under this Agreement or the other
Loan Documents in connection with an Event of Default (including all such reasonable costs and
expenses incurred during any “workout” or restructuring in respect of the Obligations and during
any legal proceeding, including any proceeding under any Debtor Relief Law), including all Attorney
Costs. The foregoing costs and expenses shall include all search, filing, recording, title
insurance and appraisal charges and fees and taxes related thereto, and other out-of-pocket
expenses incurred by the Administrative Agent and the cost of independent public accountants and
other outside experts retained by the Administrative Agent or any Lender in connection with an
Event of Default. All amounts due under this Section 10.04 shall be payable within ten
Business Days after demand therefor. The agreements in this Section shall survive the termination
of the Commitments and repayment of all other Obligations.

     10.05 Indemnification by the Borrower.

     Whether or not the transactions contemplated hereby are consummated, the Borrower Parties
shall indemnify and hold harmless each Agent-Related Person, each Lender and their respective
Affiliates, directors, officers, employees, counsel, agents and attorneys-in-fact (collectively the
“Indemnitees”) from and against any and all liabilities, obligations, losses, damages,
penalties, claims, demands, actions, judgments, suits, costs, expenses and disbursements (including
Attorney Costs) of any kind or nature whatsoever which may at any time be imposed on, incurred by
or asserted against any such Indemnitee in any way relating to or arising out of or in connection
with (a) the execution, delivery, enforcement, performance or administration of any Loan Document
or any other agreement, letter or instrument delivered in connection with the transactions
contemplated thereby or the consummation of the transactions

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contemplated thereby, (b) any
Commitment, Loan or Letter of Credit or the use or proposed use of the proceeds therefrom
(including any refusal by the L/C Issuer to honor a demand for payment under a Letter of Credit if
the documents presented in connection with such demand do not strictly comply with the terms of
such Letter of Credit), or (c) any actual or alleged presence or release of Hazardous Materials on
or from any property currently or formerly owned or
operated by the Borrower, any Consolidated Entity or any other Loan Party, or any
Environmental Liability related in any way to the Borrower, any Consolidated Entity or any other
Loan Party, or (d) any actual or prospective claim, litigation, investigation or proceeding
relating to any of the foregoing, whether based on contract, tort or any other theory (including
any investigation of, preparation for, or defense of any pending or threatened claim,
investigation, litigation or proceeding) and regardless of whether any Indemnitee is a party
thereto (all the foregoing, collectively, the “Indemnified Liabilities”); provided
that such indemnity shall not, as to any Indemnitee, be available to the extent that such
liabilities, obligations, losses, damages, penalties, claims, demands, actions, judgments, suits,
costs, expenses or disbursements are determined by a court of competent jurisdiction by final and
nonappealable judgment to have resulted from the gross negligence or willful misconduct of such
Indemnitee. No Indemnitee shall be liable for any damages arising from the use by others of any
information or other materials obtained through IntraLinks or other similar information
transmission systems in connection with this Agreement, nor shall any Indemnitee have any liability
for any indirect or consequential damages relating to this Agreement or any other Loan Document or
arising out of its activities in connection herewith or therewith (whether before or after the
Closing Date). All amounts due under this Section 10.05 shall be payable within ten
Business Days after demand therefor. The agreements in this Section shall survive the resignation
of the Administrative Agent, the replacement of any Lender, the termination of the Commitments and
the repayment, satisfaction or discharge of all the other Obligations.

     10.06 Payments Set Aside.

     To the extent that any payment by or on behalf of any Borrower Party is made to the
Administrative Agent or any Lender, or the Administrative Agent or any Lender exercises its right
of set-off, and such payment or the proceeds of such set-off or any part thereof is subsequently
invalidated, declared to be fraudulent or preferential, set aside or required (including pursuant
to any settlement entered into by the Administrative Agent or such Lender in its discretion) to be
repaid to a trustee, receiver or any other party, in connection with any proceeding under any
Debtor Relief Law or otherwise, then (a) to the extent of such recovery, the obligation or part
thereof originally intended to be satisfied shall be revived and continued in full force and effect
as if such payment had not been made or such set-off had not occurred, and (b) each Lender
severally agrees to pay to the Administrative Agent upon demand its applicable share of any amount
so recovered from or repaid by the Administrative Agent, plus interest thereon from the date of
such demand to the date such payment is made at a rate per annum equal to the Federal Funds Rate
from time to time in effect.

     10.07 Successors and Assigns.

     (a) Successors and Assigns Generally. The provisions of this Agreement shall be
binding upon and inure to the benefit of the parties hereto and their respective successors and

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assigns permitted hereby, except that no Borrower Party may assign or otherwise transfer any of its
rights or obligations hereunder without the prior written consent of the Administrative Agent and
each Lender and no Lender may assign or otherwise transfer any of its rights or obligations
hereunder except (i) to an Eligible Assignee in accordance with the provisions of subsection (b) of
this Section, (ii) by way of participation in accordance with the provisions of subsection (d) of
this Section, or (iii) by way of pledge or assignment of a security interest subject to the
restrictions of subsection (f) of this Section (and any other attempted assignment or transfer by
any party hereto shall be null and void). Nothing in this Agreement, expressed or implied, shall
be construed to confer upon any Person (other than the parties hereto, their respective successors
and assigns permitted hereby, Participants to the extent provided in subsection (d) of this Section
and, to the extent expressly contemplated hereby, the Indemnitees) any legal or equitable right,
remedy or claim under or by reason of this Agreement.

     (b) Assignments by Lenders. Any Lender may at any time assign to one or more
assignees all or a portion of its rights and obligations under this Agreement (including all or a
portion of its Commitment and the Loans (including for purposes of this subsection (b),
participations in L/C Obligations and in Swing Line Loans) at the time owing to it);
provided that any such assignment shall be subject to the following conditions:

     (i) Minimum Amounts.

     (A) in the case of an assignment of the entire remaining amount of the
assigning Lender’s Commitment under any Facility and the Loans at the time owing to
it under such Facility or in the case of an assignment to a Lender, an Affiliate of
a Lender or an Approved Fund, no minimum amount need be assigned; and

     (B) in any case not described in subsection (b)(i)(A) of this Section, the
aggregate amount of the Commitment (which for this purpose includes Loans
outstanding thereunder) or, if the Commitment is not then in effect, the principal
outstanding balance of the Loans of the assigning Lender subject to each such
assignment, determined as of the date the Assignment and Assumption with respect to
such assignment is delivered to the Administrative Agent or, if “Trade Date” is
specified in the Assignment and Assumption, as of the Trade Date, shall not be less
than $10,000,000 in the case of any assignment in respect of the Revolving Credit
Facility or $5,000,000 in the case of any assignment in respect of the Term
Facility, unless each of the Administrative Agent and, so long as no Event of
Default has occurred and is continuing, the Borrower otherwise consents (each such
consent not to be unreasonably withheld or delayed); provided,
however, that concurrent assignments to members of an Assignee Group and
concurrent assignments from members of an Assignee Group to a single assignee (or to
an assignee and members of its Assignee Group) will be treated as a single
assignment for purposes of determining whether such minimum amount has been met.

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     (ii) Proportionate Amounts. Each partial assignment shall be made as an
assignment of a proportionate part of all the assigning Lender’s rights and obligations
under this Agreement with respect to the Loans or the Commitment assigned, except that this
clause (ii) shall not apply to the Swing Line Lender’s rights and obligations in respect of
Swing Line Loans and shall not prohibit any Lender from assigning all or a portion of its
rights and obligations among separate Facilities on a non-pro rata basis;

     (iii) Required Consents. No consent shall be required for any assignment
except to the extent required by subsection (b)(i)(B) of this Section and, in addition:

     (A) the consent of the Borrower (such consent not to be unreasonably withheld
or delayed) shall be required unless (1) an Event of Default has occurred and is
continuing at the time of such assignment or (2) such assignment is to a Lender, an
Affiliate of a Lender or an Approved Fund (unless the addition of such Lender,
Affiliate of Lender or Approved Fund will, as of the effective date of such
assignment, make the Borrower Parties liable for payment of additional amounts under
Article III hereof that are not otherwise payable to the assignor);

     (B) the consent of the Administrative Agent (such consent not to be
unreasonably withheld or delayed) shall be required for assignments in respect of
(i) any Commitment if such assignment is to a Person that is not a Lender with a
Commitment in respect of the applicable Facility, an Affiliate of such Lender or an
Approved Fund with respect to such Lender or (ii) any Loan to a Person not a Lender,
an Affiliate of a Lender or an Approved Fund with respect to such Lender;

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

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

     (iv) Assignment and Assumption. The parties to each assignment shall execute
and deliver to the Administrative Agent an Assignment and Assumption, together with a
processing and recordation fee in the amount of $3,500; provided, however,
that the Administrative Agent may, in its sole discretion, elect to waive such processing
and recordation fee in the case of any assignment. The assignee, if it is not a Lender,
shall deliver to the Administrative Agent an Administrative Questionnaire.

     (v) No Assignment to Borrower. No such assignment shall be made to the
Borrower or any of the Borrower’s Affiliates or Subsidiaries.

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     (vi) No Assignment to Natural Persons. No such assignment shall be made to a
natural person.

     Subject to acceptance and recording thereof by the Administrative Agent pursuant to subsection
(c) of this Section, from and after the effective date specified in each Assignment and Assumption,
the Eligible Assignee thereunder shall be a party to this Agreement and, to the extent of the
interest assigned by such Assignment and Assumption, have the rights and obligations of a Lender
under this Agreement, and the assigning Lender thereunder shall, to the extent of the interest
assigned by such Assignment and Assumption, be released from its
obligations under this Agreement (and, in the case of an Assignment and Assumption covering
all of the assigning Lender’s rights and obligations under this Agreement, such Lender shall cease
to be a party hereto but shall continue to be entitled to the benefits of Sections 3.01,
3.04, 3.05, 10.04 and 10.05 with respect to facts and circumstances
occurring prior to the effective date of such assignment). Upon request and return of a Note being
replaced, cancelled or marked replaced, the Borrower and Co-Borrowers (at their expense), as
applicable, shall execute and deliver a Note to the assignee Lender (provided, that the
Co-Borrowers shall deliver their Revolving Credit Notes to the Administrative Agent absent a
specific request by a Lender for its respective Revolving Credit Note). Any assignment or transfer
by a Lender of rights or obligations under this Agreement that does not comply with this subsection
shall be treated for purposes of this Agreement as a sale by such Lender of a participation in such
rights and obligations in accordance with subsection (d) of this Section.

     (c) Register. The Administrative Agent, acting solely for this purpose as an agent of
the Borrower Parties, shall maintain at the Administrative Agent’s Office a copy of each Assignment
and Assumption delivered to it and a register for the recordation of the names and addresses of the
Lenders, and the Commitments of, and principal amounts of the Loans and L/C Obligations owing to,
each Lender pursuant to the terms hereof from time to time (the “Register”). The entries
in the Register shall be conclusive, and the Borrower Parties, the Administrative Agent and the
Lenders may treat each Person whose name is recorded in the Register pursuant to the terms hereof
as a Lender hereunder for all purposes of this Agreement, notwithstanding notice to the contrary.
The Register shall be available for inspection by the Borrower and any Lender, at any reasonable
time and from time to time upon reasonable prior notice

     (d) Participations. Any Lender may at any time, without the consent of, or notice to,
the Borrower Parties or the Administrative Agent, sell participations to any Person (other than a
natural person or the Borrower or any of the Borrower’s Affiliates or Subsidiaries) (each, a
“Participant”) in all or a portion of such Lender’s rights and/or obligations under this
Agreement (including all or a portion of its Commitment and/or the Loans (including such Lender’s
participations in L/C Obligations and/or Swing Line Loans) owing to it); provided that (i)
such Lender’s obligations under this Agreement shall remain unchanged, (ii) such Lender shall
remain solely responsible to the other parties hereto for the performance of such obligations and
(iii) the Borrower Parties, the Administrative Agent and the other Lenders shall continue to deal
solely and directly with such Lender in connection with such Lender’s rights and obligations under
this Agreement. Any agreement or instrument pursuant to which a Lender sells such a participation
shall provide that such Lender shall retain the sole right to enforce this Agreement and to

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approve any amendment, modification or waiver of any provision of this Agreement; provided that
such agreement or instrument may provide that such Lender will not, without the consent of the
Participant, agree to any amendment, waiver or other modification that would (i) postpone any date
upon which any payment of money is scheduled to be paid to such Participant, (ii) reduce the
principal, interest, fees or other amounts payable to such Participant, or (iii) release any
Guarantor from the Guaranty to which it is a party. Subject to subsection (e) of this Section, the
Borrower Parties agree that each Participant shall be entitled to the benefits of Sections
3.01, 3.04 and 3.05 to the same extent (and subject to the same conditions and
limitations) as if it were a Lender and had acquired its interest by assignment pursuant to
subsection (b) of this Section. To the extent permitted by law, each Participant also shall be entitled to the benefits of
Section 10.09 as though it were a Lender, provided such Participant agrees to be
subject to Section 2.13 as though it were a Lender.

     (e) Limitations Upon Participant Rights. Except to the extent the sale of a
participation to a particular Participant has been approved in writing by the Borrower, a
Participant shall be entitled to receive payments under or pursuant to Section 3.01 or
3.04 only to the extent that the applicable Lender (taking into account the particular
circumstances surrounding the Loans made by such Lender and the applicability of tax withholding
and similar laws and regulations with respect to such Lender) is or would, upon such Lender’s
request or demand for payment pursuant to Section 3.01 or 3.04, be entitled to any
such payments. Any claim for compensation made by a Participant of a Lender shall be deemed a
claim made by the applicable Lender for purposes of initiating the Borrower’s rights under
Sections 3.06(b) and 10.16 of this Agreement. Subject to the preceding provisions
of this clause (e), a Participant that would be a Foreign Lender if it were a Lender shall not be
entitled to the benefits of Section 3.01 unless the Borrower is notified of the
participation sold to such Participant and such Participant agrees, for the benefit of the
Borrower, to comply with Section 10.15 as though it were a Lender.

     (f) Certain Pledges. Any Lender may at any time without need for any consent pledge
or assign a security interest in all or any portion of its rights under this Agreement (including
under its Note, if any) to secure obligations of such Lender, including any pledge or assignment to
secure obligations to a Federal Reserve Bank; provided that no such pledge or assignment
shall release such Lender from any of its obligations hereunder or substitute any such pledgee or
assignee for such Lender as a party hereto.

     (g) Electronic Execution of Assignments. The words “execution,”
“signed,” “signature,” and words of like import in any Assignment and Assumption
shall be deemed to include electronic signatures or the keeping of records in electronic form, each
of which shall be of the same legal effect, validity or enforceability as a manually executed
signature or the use of a paper-based recordkeeping system, as the case may be, to the extent and
as provided for in any applicable Law, including the Federal Electronic Signatures in Global and
National Commerce Act, the New York Electronic Signatures and Records Act, or any other similar
state Laws based on the Uniform Electronic Transactions Act.

     (h) Registration as L/C Issuer or Swing Line Lender after Assignment. Notwithstanding
anything to the contrary contained herein, if at any time Bank of America assigns all of its
Revolving Credit Commitment and Revolving Credit Loans pursuant to

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subsection (b) above, Bank of America may, (i) upon thirty (30) days’ notice to the
Borrower and the Lenders, resign as L/C Issuer and/or (ii) upon thirty (30) days’ notice to the
Borrower, resign as Swing Line Lender. In the event of any such resignation as L/C Issuer or Swing
Line Lender, the Borrower shall be entitled to appoint from among the Revolving Credit Lenders a
successor L/C Issuer or Swing Line Lender hereunder; provided, however, that no
failure by the Borrower to appoint any such successor shall affect the resignation of Bank of
America as L/C Issuer or Swing Line Lender, as the case may be. If Bank of America resigns as L/C
Issuer, it shall retain all the rights and obligations of the L/C Issuer hereunder with respect to
all Letters of Credit outstanding as of the effective date of its resignation as L/C Issuer and all
L/C Obligations with respect thereto (including the right to require the Revolving Credit Lenders
to make Base Rate Loans or fund risk participations in Unreimbursed Amounts pursuant to Section
2.03(c)). If Bank of America resigns as Swing Line Lender, it shall retain all the rights of
the Swing Line Lender provided for hereunder with respect to Swing Line Loans made by it and
outstanding as of the effective date of such resignation, including the right to require the
Revolving Credit Lenders to make Base Rate Loans or fund risk participations in outstanding Swing
Line Loans pursuant to Section 2.04(c).

     10.08 Confidentiality.

     Each of the Administrative Agent and the Lenders for themselves, their Affiliates and Agent
Related Persons, agrees to maintain the confidentiality of the Information (as defined below),
except that Information may be disclosed (a) to its Affiliates and to its Affiliates’ respective
partners, directors, officers, employees, agents, advisors and representatives who need to know the
Information in connection with the transactions contemplated by the Agreement (it being understood
that the Persons to whom such disclosure is made will be informed of the confidential nature of
such Information and instructed to keep such Information confidential) and who will use such
Information only in connection with the transactions contemplated by the Agreement; (b) to the
extent requested by any regulatory authority purporting to have jurisdiction over it; (c) to the
extent required by applicable laws or regulations or by any subpoena or similar legal process,
provided that prior to making any such disclosure (other than to a banking regulator or
auditor), such Person shall endeavor in the ordinary course of business to promptly notify the
Borrower in writing so that the Borrower may seek an appropriate protective order (notwithstanding
the foregoing, should such Person fail to notify Borrower, such person shall have no liability to
Borrower or any other Credit Party); (d) to any other party to this Agreement; (e) in connection
with the exercise of any remedies hereunder or any suit, action or proceeding relating to this
Agreement or the enforcement of rights hereunder; (f) subject to an agreement containing provisions
substantially the same as those of this Section, to (i) any Eligible Assignee of or Participant in,
or any prospective Eligible Assignee of or Participant in, any of its rights or obligations under
this Agreement or (ii) any direct or indirect contractual counterparty or prospective counterparty
(or such contractual counterparty’s or prospective counterparty’s professional advisor) to any
credit derivative transaction relating to obligations of the Loan Parties; (g) with the consent of
the Borrower; (h) to the extent such Information (i) becomes publicly available other than as a
result of a breach of this Section or (ii) becomes available to the Administrative Agent or any
Lender on a nonconfidential basis from a source other than the Borrower; or (i) to the National
Association of Insurance Commissioners or any other similar organization having jurisdiction over
such Lender. In addition, the Administrative

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Agent and the Lenders may disclose the existence of
this Agreement and information about this
Agreement to market data collectors, similar service providers to the lending industry, and
service providers to the Administrative Agent and the Lenders in connection with the administration
and management of this Agreement, the other Loan Documents, the Commitments, and the Credit
Extensions. For the purposes of this Section, “Information” means all information received
from the Borrower or any of its Consolidated Entities relating to the Borrower or any Combined
Entity or Investment Entity or any of their respective businesses, other than any such information
that is available to the Administrative Agent or any Lender on a nonconfidential basis as described
above prior to disclosure by the Borrower or any Combined Entity or Investment Entity;
provided that, in the case of information received from the Borrower or any Combined Party
after the date hereof, except as expressly noted thereon, all financial information or other
information relating to any proposed transactions of the Borrower, any Combined Party, any
Investment Entity or any of the Borrower’s Affiliates shall be considered confidential. Any Person
required to maintain the confidentiality of Information as provided in this Section shall be
considered to have complied with its obligation to do so if such Person has exercised the same
degree of care to maintain the confidentiality of such Information as such Person would accord to
its own confidential information.

     10.09 Set-off.

     In addition to any rights and remedies of the Lenders provided by law, upon the occurrence and
during the continuance of any Event of Default after obtaining the prior written consent of the
Administrative Agent, each Lender is authorized at any time and from time to time, without prior
notice to the Borrower or any other Loan Party, any such notice being waived by the Borrower (on
its own behalf and on behalf of each Loan Party) to the fullest extent permitted by law, to set off
and apply any and all deposits (general or special, time or demand, provisional or final) at any
time held by, and other indebtedness at any time owing by, such Lender to or for the credit or the
account of the respective Loan Parties, and each Loan Party hereby grants a security interest in
all such deposits and indebtedness to the Administrative Agent for the benefit of the
Administrative Agent and the Lenders, against any and all Obligations owing to such Lender
hereunder or under any other Loan Document, now or hereafter existing, irrespective of whether or
not the Administrative Agent or such Lender shall have made demand under this Agreement or any
other Loan Document and although such Obligations may be contingent or unmatured or denominated in
a currency different from that of the applicable deposit or indebtedness. Each Lender agrees
promptly to notify the Borrower and the Administrative Agent after any such set-off and application
made by such Lender; provided, however, that the failure to give such notice shall
not affect the validity of such set-off and application.

     10.10 Interest Rate Limitation.

     Notwithstanding anything to the contrary contained in any Loan Document, the interest paid or
agreed to be paid under the Loan Documents shall not exceed the maximum rate of non-usurious
interest permitted by applicable Law (the “Maximum Rate”). If the Administrative Agent or
any Lender shall receive interest in an amount that exceeds the Maximum Rate, the excess interest
shall be applied to the principal of the Loans or, if it exceeds such unpaid

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principal, refunded to
the Borrower Parties. In determining whether the interest contracted for,
charged, or received by the Administrative Agent or a Lender exceeds the Maximum Rate, such
Person may, to the extent permitted by applicable Law, (a) characterize any payment that is not
principal as an expense, fee, or premium rather than interest, (b) exclude voluntary prepayments
and the effects thereof, and (c) amortize, prorate, allocate, and spread in equal or unequal parts
the total amount of interest throughout the contemplated term of the Obligations hereunder.

     10.11 Counterparts.

     This Agreement may be executed in one or more counterparts, each of which shall be deemed an
original, but all of which together shall constitute one and the same instrument.

     10.12 Integration.

     This Agreement, together with the other Loan Documents, comprises the complete and integrated
agreement of the parties on the subject matter hereof and thereof and supersedes all prior
agreements, written or oral, on such subject matter. In the event of any conflict between the
provisions of this Agreement and those of any other Loan Document, the provisions of this Agreement
shall control; provided that the inclusion of supplemental rights or remedies in favor of
the Administrative Agent or the Lenders in any other Loan Document shall not be deemed a conflict
with this Agreement. Each Loan Document was drafted with the joint participation of the respective
parties thereto and shall be construed neither against nor in favor of any party, but rather in
accordance with the fair meaning thereof.

     10.13 Survival of Representations and Warranties.

     All representations and warranties made hereunder and in any other Loan Document or other
document delivered pursuant hereto or thereto or in connection herewith or therewith shall survive
the execution and delivery hereof and thereof. Such representations and warranties have been or
will be relied upon by the Administrative Agent and each Lender, regardless of any investigation
made by the Administrative Agent or any Lender or on their behalf and notwithstanding that the
Administrative Agent or any Lender may have had notice or knowledge of any Default at the time of
any Credit Extension (unless such notice has been received from the Borrower in writing), and shall
continue in full force and effect as long as any Loan or any other Obligation hereunder shall
remain unpaid or unsatisfied or any Letter of Credit shall remain outstanding.

     10.14 Severability.

     If any provision of this Agreement or the other Loan Documents is held to be illegal, invalid
or unenforceable, (a) the legality, validity and enforceability of the remaining provisions of this
Agreement and the other Loan Documents shall not be affected or impaired thereby and (b) the
parties shall endeavor in good faith negotiations to replace the illegal, invalid or unenforceable
provisions with valid provisions the economic effect of which comes as close as possible to that of
the illegal, invalid or unenforceable provisions. The invalidity of a provision

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in a particular
jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction.

     10.15 Tax Forms.

     (a) (i) Each Lender that is not a “United States person” within the meaning of Section
7701(a)(30) of the Code (a “Foreign Lender”) shall deliver to the Administrative Agent,
prior to receipt of any payment subject to withholding under the Code (or upon accepting an
assignment of an interest herein), two duly signed completed copies of either IRS Form W-8BEN or
any successor thereto (relating to such Foreign Lender and entitling it to an exemption from, or
reduction of, withholding tax on all payments to be made to such Foreign Lender by the Borrower
Parties pursuant to this Agreement) or IRS Form W-8ECI or any successor thereto (relating to all
payments to be made to such Foreign Lender by the Borrower Parties pursuant to this Agreement) or
such other evidence satisfactory to the Borrower and the Administrative Agent that such Foreign
Lender is entitled to an exemption from, or reduction of, U.S. withholding tax, including any
exemption pursuant to Section 881(c) of the Code. Thereafter and from time to time, each such
Foreign Lender shall (A) promptly submit to the Administrative Agent such additional duly completed
and signed copies of one of such forms (or such successor forms as shall be adopted from time to
time by the relevant United States taxing authorities) as may then be available under then current
United States laws and regulations to avoid, or such evidence as is satisfactory to the Borrower
and the Administrative Agent of any available exemption from or reduction of, United States
withholding taxes in respect of all payments to be made to such Foreign Lender by the Borrower
Parties pursuant to this Agreement, (B) promptly notify the Administrative Agent of any change in
circumstances which would modify or render invalid any claimed exemption or reduction, and (C) take
such steps as shall not be materially disadvantageous to it, in the reasonable judgment of such
Lender, and as may be reasonably necessary (including the re-designation of its Lending Office) to
avoid any requirement of applicable Laws that the Borrower Parties make any deduction or
withholding for taxes from amounts payable to such Foreign Lender.

     (ii) Each Foreign Lender, to the extent it does not act or ceases to act for its own
account with respect to any portion of any sums paid or payable to such Lender under any of
the Loan Documents (for example, in the case of a typical participation by such Lender),
shall deliver to the Administrative Agent on the date when such Foreign Lender ceases to act
for its own account with respect to any portion of any such sums paid or payable, and at
such other times as may be necessary in the determination of the Administrative Agent (in
the reasonable exercise of its discretion), (A) two duly signed completed copies of the
forms or statements required to be provided by such Lender as set forth above, to establish
the portion of any such sums paid or payable with respect to which such Lender acts for its
own account that is not subject to U.S. withholding tax, and (B) two duly signed completed
copies of IRS Form W-8IMY (or any successor thereto), together with any information such
Lender chooses to transmit with such form, and any other certificate or statement of
exemption required under the Code, to establish that such Lender is not acting for its own
account with respect to a portion of any such sums payable to such Lender.

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     (iii) The Borrower Parties shall not be required to pay any additional amount to any
Foreign Lender under Section 3.01 (A) with respect to any Taxes required to be
deducted or withheld on the basis of the information, certificates or statements of
exemption such Lender transmits with an IRS Form W-8IMY pursuant to this Section
10.15(a) or (B) if such Lender shall have failed to satisfy the foregoing provisions of
this Section 10.15(a); provided that if such Lender shall have satisfied the
requirement of this Section 10.15(a) on the date such Lender became a Lender or
ceased to act for its own account with respect to any payment under any of the Loan
Documents, nothing in this Section 10.15(a) shall relieve the Borrower Parties of
their obligation to pay any amounts pursuant to Section 3.01 in the event that, as a
result of any change in any applicable law, treaty or governmental rule, regulation or
order, or any change in the interpretation, administration or application thereof, such
Lender is no longer properly entitled to deliver forms, certificates or other evidence at a
subsequent date establishing the fact that such Lender or other Person for the account of
which such Lender receives any sums payable under any of the Loan Documents is not subject
to withholding or is subject to withholding at a reduced rate.

     (iv) The Administrative Agent may, without reduction, withhold any Taxes required to be
deducted and withheld from any payment under any of the Loan Documents with respect to which
the Borrower Parties are not required to pay additional amounts under this Section
10.15(a).

     (b) Upon the request of the Administrative Agent, each Lender that is a “United States person”
within the meaning of Section 7701(a)(30) of the Code shall deliver to the Administrative Agent two
duly signed completed copies of IRS Form W-9. If such Lender fails to deliver such forms, then the
Administrative Agent may withhold from any interest payment to such Lender an amount equivalent to
the applicable back-up withholding tax imposed by the Code, without reduction.

     (c) If any Governmental Authority asserts that the Administrative Agent did not properly
withhold or backup withhold, as the case may be, any tax or other amount from payments made to or
for the account of any Lender, such Lender shall indemnify the Administrative Agent therefor,
including all penalties and interest, any taxes imposed by any jurisdiction on the amounts payable
to the Administrative Agent under this Section, and costs and expenses (including Attorney Costs)
of the Administrative Agent. The obligation of the Lenders under this Section shall survive the
termination of the Commitments, repayment of all other Obligations hereunder and the resignation of
the Administrative Agent.

     10.16 Replacement of Lenders.

     Under any circumstances set forth herein providing that the Borrower shall have the right to
replace a Lender as a party to this Agreement, the Borrower may, upon notice to such Lender and the
Administrative Agent, replace such Lender by causing such Lender to assign its Commitments and its
Loans (with the assignment fee to be paid by the Borrower in such instance) pursuant to Section
10.07(b) to one or more other Lenders or Eligible Assignees procured by the Borrower;
provided, however, that if the Borrower elects to exercise such right

122

 

with respect
to any Lender pursuant to Section 3.06(b), it shall be obligated to replace all Lenders
that have made similar requests for compensation pursuant to Section 3.01 or 3.04.
Upon the making of any such assignment, the Borrower shall (x) pay in full all interest, fees and
other amounts owing to such Lender through the date of replacement (including any amounts
payable pursuant to Section 3.05), and (y) provide appropriate assurances and indemnities
(which may include letters of credit) to the L/C Issuer and the Swing Line Lender as each may
reasonably require with respect to any continuing obligation to fund participation interests in any
L/C Obligations or any Swing Line Loans then outstanding.

     10.17 Governing Law.

     (a) THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE
STATE OF GEORGIA APPLICABLE TO AGREEMENTS MADE AND TO BE PERFORMED ENTIRELY WITHIN SUCH STATE;
PROVIDED THAT THE ADMINISTRATIVE AGENT AND EACH LENDER SHALL RETAIN ALL RIGHTS ARISING
UNDER FEDERAL LAW.

     (b) ANY LEGAL ACTION OR PROCEEDING WITH RESPECT TO THIS AGREEMENT OR ANY OTHER CREDIT DOCUMENT
MAY BE BROUGHT IN THE COURTS OF THE STATE OF GEORGIA SITTING IN FULTON COUNTY OR OF THE UNITED
STATES FOR THE NORTHERN DISTRICT OF SUCH STATE, AND BY EXECUTION AND DELIVERY OF THIS AGREEMENT,
EACH OF THE BORROWER, THE OTHER BORROWER PARTIES, THE GUARANTORS, THE ADMINISTRATIVE AGENT AND EACH
LENDER CONSENTS, FOR ITSELF AND IN RESPECT OF ITS PROPERTY, TO THE NON-EXCLUSIVE JURISDICTION OF
THOSE COURTS. EACH OF THE BORROWER, THE OTHER BORROWER PARTIES, THE GUARANTORS, THE ADMINISTRATIVE
AGENT AND EACH LENDER IRREVOCABLY WAIVES ANY OBJECTION, INCLUDING ANY OBJECTION TO THE LAYING OF
VENUE OR BASED ON THE GROUNDS OF FORUM NON CONVENIENS, WHICH IT MAY NOW OR HEREAFTER HAVE TO THE
BRINGING OF ANY ACTION OR PROCEEDING IN SUCH JURISDICTION IN RESPECT OF ANY CREDIT DOCUMENT OR
OTHER DOCUMENT RELATED THERETO. EACH OF THE BORROWER, THE OTHER BORROWER PARTIES, THE GUARANTORS,
THE ADMINISTRATIVE AGENT AND EACH LENDER WAIVES PERSONAL SERVICE OF ANY SUMMONS, COMPLAINT OR OTHER
PROCESS, WHICH MAY BE MADE BY ANY OTHER MEANS PERMITTED BY THE LAW OF SUCH STATE.

     10.18 Waiver of Right to Trial by Jury.

     EACH PARTY TO THIS AGREEMENT HEREBY EXPRESSLY WAIVES ANY RIGHT TO TRIAL BY JURY OF ANY CLAIM,
DEMAND, ACTION OR CAUSE OF ACTION ARISING UNDER ANY LOAN DOCUMENT OR IN ANY WAY CONNECTED WITH OR
RELATED OR INCIDENTAL TO THE DEALINGS OF THE PARTIES HERETO OR ANY OF THEM WITH RESPECT TO ANY LOAN
DOCUMENT, OR THE TRANSACTIONS RELATED THERETO, IN EACH CASE WHETHER NOW EXISTING OR HEREAFTER
ARISING, AND WHETHER FOUNDED IN CONTRACT OR TORT OR OTHERWISE; AND EACH PARTY HEREBY AGREES AND
CONSENTS THAT ANY

123

 

SUCH CLAIM, DEMAND, ACTION OR CAUSE OF ACTION SHALL BE DECIDED BY COURT TRIAL
WITHOUT A JURY, AND THAT ANY PARTY TO THIS AGREEMENT MAY FILE AN ORIGINAL COUNTERPART OR A COPY OF
THIS SECTION WITH ANY
COURT AS WRITTEN EVIDENCE OF THE CONSENT OF THE SIGNATORIES HERETO TO THE WAIVER OF THEIR
RIGHT TO TRIAL BY JURY.

     10.19 No Advisory or Fiduciary Responsibility. In connection with all aspects of each
transaction contemplated hereby, the Borrower and each other Loan Party acknowledges and agrees,
and acknowledges its Affiliates’ understanding, that: (i) the credit facility provided for
hereunder and any related arranging or other services in connection therewith (including in
connection with any amendment, waiver or other modification hereof or of any other Loan Document)
are an arm’s-length commercial transaction between the Borrower, each other Loan Party and their
respective Affiliates, on the one hand, and the Administrative Agent and the Arranger, on the other
hand, and the Borrower and each other Loan Party is capable of evaluating and understanding and
understands and accepts the terms, risks and conditions of the transactions contemplated hereby and
by the other Loan Documents (including any amendment, waiver or other modification hereof or
thereof); (ii) in connection with the process leading to such transaction, the Administrative Agent
and the Arranger each is and has been acting solely as a principal and is not the financial
advisor, agent or fiduciary, for the Borrower, any other Loan Party or any of their respective
Affiliates, stockholders, creditors (other than acting as Administrative Agent for the Lenders
hereunder) or employees or any other Person; (iii) neither the Administrative Agent nor the
Arranger has assumed or will assume an advisory, agency or fiduciary responsibility in favor of the
Borrower or any other Loan Party with respect to any of the transactions contemplated hereby or the
process leading thereto, including with respect to any amendment, waiver or other modification
hereof or of any other Loan Document (irrespective of whether the Administrative Agent or the
Arranger has advised or is currently advising the Borrower, any other Loan Party or any of their
respective Affiliates on other matters) and neither the Administrative Agent nor the Arranger has
any obligation to the Borrower, any other Loan Party or any of their respective Affiliates with
respect to the transactions contemplated hereby except those obligations expressly set forth herein
and in the other Loan Documents; (iv) the Administrative Agent and the Arranger and their
respective Affiliates may be engaged in a broad range of transactions that involve interests that
differ from those of the Borrower, the other Loan Parties and their respective Affiliates, and
neither the Administrative Agent nor the Arranger has any obligation to disclose any of such
interests by virtue of any advisory, agency or fiduciary relationship; and (v) the Administrative
Agent and the Arranger have not provided and will not provide any legal, accounting, regulatory or
tax advice with respect to any of the transactions contemplated hereby (including any amendment,
waiver or other modification hereof or of any other Loan Document) and each of the Borrower and the
other Loan Parties has consulted its own legal, accounting, regulatory and tax advisors to the
extent it has deemed appropriate. Each of the Borrower and the other Loan Parties hereby waives
and releases, to the fullest extent permitted by law, any claims that it may have against the
Administrative Agent and the Arranger with respect to any breach or alleged breach of agency or
fiduciary duty.

124

 

     10.20 USA PATRIOT Act Notice.

     Each Lender and the Administrative Agent (for itself and not on behalf of any Lender) hereby
notifies each Borrower Party that pursuant to the requirements of the USA Patriot Act (Title III of
Pub. L. 107-56 (signed into law October 26, 2001)) (the “Act”), it is required to obtain, verify
and record information that identifies such Borrower Party, which information includes the name and
address of such Borrower Party and other information that will allow such Lender or the
Administrative Agent, as applicable, to identify such Borrower Party in accordance with the Act.

     10.21 Attorneys’ Fees.

     As used in this Agreement and in the other Loan Documents, “reasonable” attorneys’ fees of the
Administrative Agent’s, any Lender’s or any other Person’s counsel shall mean the actual fees of
such Person’s counsel billed at standard hourly rates of such counsel, rather than a percentage of
principal and interest as provided in O.C.G.A. § 13-1-11(a)(2).

     10.22 Existing Credit Agreement.

     Upon the satisfaction of all conditions precedent to the effectiveness of this Agreement, the
Agreement amends and restates the Existing Credit Agreement in its entirety.

ARTICLE XI

GUARANTY

     11.01 The Guaranty.

     Each of the Guarantors hereby jointly and severally guarantees to each Lender, each Affiliate
of a Lender that enters into a Swap Contract with respect to the Loans, and the Administrative
Agent as hereinafter provided, as primary obligor and not as surety, the prompt payment of the
Obligations in full when due after the expiration of all applicable grace or cure periods (whether
at stated maturity, as a mandatory prepayment, by acceleration, as a mandatory cash
collateralization or otherwise) strictly in accordance with the terms thereof. The Guarantors
hereby further agree that if any of the Obligations are not paid in full when due after the
expiration of all applicable grace or cure periods (whether at stated maturity, as a mandatory
prepayment, by acceleration, as a mandatory cash collateralization or otherwise), the Guarantors
will, jointly and severally, promptly pay the same, without any demand or notice whatsoever (except
for such notices as may be specifically required by the terms of the Loan Documents), and that in
the case of any extension of time of payment or renewal of any of the Obligations, the same will be
promptly paid in full when due after the expiration of all applicable grace or cure periods
(whether at extended maturity, as a mandatory prepayment, by acceleration, as a mandatory cash
collateralization or otherwise) in accordance with the terms of such extension or renewal.

     Notwithstanding any provision to the contrary contained herein or in any other of the Loan
Documents or Swap Contracts entered into in connection with the Loans, the obligations of each
Guarantor under this Agreement and the other Loan Documents shall be limited to an aggregate

125

 

amount equal to the largest amount that would not render such obligations subject to avoidance
under the Debtor Relief Laws or any comparable provisions of any applicable state law.

     11.02 Obligations Unconditional.

     The obligations of the Guarantors under Section 11.01 are joint and several, absolute
and unconditional, irrespective of the value, genuineness, validity, regularity or enforceability
of any of the Loan Documents or Swap Contracts entered into in connection with the Loans, or any
other agreement or instrument referred to therein, or any substitution, release, impairment or
exchange of any other guarantee of or security for any of the Obligations, and, to the fullest
extent permitted by applicable law, irrespective of any other circumstance (other than payment)
whatsoever which might otherwise constitute a legal or equitable discharge or defense of a surety
or guarantor, it being the intent of this Section 11.02 that the obligations of the
Guarantors hereunder shall be absolute and unconditional under any and all circumstances. Each
Guarantor agrees that such Guarantor shall have no right of subrogation, indemnity, reimbursement
or contribution against any Borrower Party or any other Guarantor for amounts paid under this
Article XI until such time as the Obligations have been Fully Satisfied. Without limiting
the generality of the foregoing, it is agreed that, to the fullest extent permitted by law, the
occurrence of any one or more of the following shall not alter or impair the liability of any
Guarantor hereunder which shall remain absolute and unconditional as described above:

     (a) at any time or from time to time, without notice to any Guarantor, the time for any
performance of or compliance with any of the Obligations shall be extended, or such performance or
compliance shall be waived;

     (b) any of the acts mentioned in any of the provisions of any of the Loan Documents, any Swap
Contract entered into in connection with the Loans between any Consolidated Party and any Lender,
or any Affiliate of a Lender, or any other agreement or instrument referred to in the Loan
Documents or such Swap Contracts shall be done or omitted;

     (c) the maturity of any of the Obligations shall be accelerated, or any of the Obligations
shall be modified, supplemented or amended in any respect, or any right under any of the Loan
Documents, any Swap Contract entered into in connection with the Loans between any Consolidated
Party and any Lender, or any Affiliate of a Lender, or any other agreement or instrument referred
to in the Loan Documents or such Swap Contracts shall be waived or any other guarantee of any of
the Obligations or any security therefor shall be released, impaired or exchanged in whole or in
part or otherwise dealt with;

     (d) any Lien granted to, or in favor of, the Administrative Agent or any Lender or Lenders as
security for any of the Obligations shall fail to attach or be perfected; or

     (e) any of the Obligations shall be determined to be void or voidable (including, without
limitation, for the benefit of any creditor of any Guarantor) or shall be subordinated to the
claims of any Person (including, without limitation, any creditor of any Guarantor).

126

 

     With respect to its obligations hereunder, each Guarantor hereby expressly waives diligence,
presentment, demand of payment, protest and all notices whatsoever except as required by the Loan
Documents, and any requirement that the Administrative Agent or any Lender exhaust any right, power
or remedy or proceed against any Person under any of the Loan Documents, any Swap Contract entered
into in connection with the Loans between any Consolidated Party and any Lender, or any Affiliate
of a Lender, or any other agreement or instrument referred to in the Loan Documents or such Swap
Contracts, or against any other Person under any other guarantee of, or security for, any of the
Obligations.

     11.03 Reinstatement.

     The obligations of the Guarantors under this Article XI shall be automatically
reinstated if and to the extent that for any reason any payment by or on behalf of any Person in
respect of the Obligations is rescinded or must be otherwise restored by any holder of any of the
Obligations, whether as a result of any proceedings in bankruptcy or reorganization or otherwise,
and each Guarantor agrees that it will indemnify the Administrative Agent and each Lender within
fifteen (15) days of demand for all reasonable costs and expenses (including, without limitation,
fees and expenses of counsel) incurred by the Administrative Agent or such Lender in connection
with such rescission or restoration, including any such costs and expenses incurred in defending
against any claim alleging that such payment constituted a preference, fraudulent transfer or
similar payment under any bankruptcy, insolvency or similar law.

     11.04 Certain Additional Waivers.

     Each Guarantor further agrees that such Guarantor shall have no right of recourse to security
for the Obligations, except through the exercise of rights of subrogation pursuant to Section
11.02 and through the exercise of rights of contribution pursuant to Section 11.06.
Each Guarantor hereby expressly waives the benefits of O.C.G.A. Section 10-7-24.

     11.05 Remedies.

     The Guarantors agree that, to the fullest extent permitted by law, as between the Guarantors,
on the one hand, and the Administrative Agent and the Lenders, on the other hand, the Obligations
may be declared to be forthwith due and payable as provided in Section 8.02 (and shall be
deemed to have become automatically due and payable in the circumstances provided in said
Section 8.02) for purposes of Section 11.01 notwithstanding any stay, injunction or
other prohibition preventing such declaration (or preventing the Obligations from becoming
automatically due and payable) as against any other Person and that, in the event of such
declaration (or the Obligations being deemed to have become automatically due and payable), the
Obligations (whether or not due and payable by any other Person) shall forthwith become due and
payable by the Guarantors for purposes of Section 11.01. The Guarantors acknowledge and
agree that to the extent their obligations hereunder become secured, the Lenders may exercise their
remedies thereunder in accordance with the terms of the applicable security documents.

127

 

     11.06 Rights of Contribution.

     The Guarantors hereby agree as among themselves that, in connection with payments made
hereunder, each Guarantor shall have a right of contribution from each other Guarantor in
accordance with applicable Law. Such contribution rights shall be subordinate and subject in right
of payment to the Obligations until such time as the Obligations have been Fully Satisfied, and
none of the Guarantors shall exercise any such contribution rights until the Obligations have been
Fully Satisfied.

     11.07 Guarantee of Payment; Continuing Guarantee.

     The guarantee in this Article XI is a guaranty of payment and not of collection, is a
continuing guarantee, and shall apply to all Obligations whenever arising.

128

 

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

	 	 	 	 	 
	BORROWER:  	COUSINS PROPERTIES INCORPORATED, a Georgia corporation

 	 
	 	By:  	 	 
	 	 	Name:  	James A. Fleming 	 
	 	 	Title:  	Executive Vice President and Chief Financial Officer 	 
	 
	GUARANTORS:  	CARRIAGE AVENUE, LLC, a Delaware limited liability company

 	 
	 	By:  	 Cousins Properties Incorporated, as
managing member

 	 
	 	By:  	 	 
	 	 	Name:  	James A. Fleming 	 
	 	 	Title:  	Executive Vice President and Chief Financial Officer 	 
	 
	 	COUSINS TEXAS LLC

C/W KING MILL I, LLC

CPI 191 LLC

COUSINS PROPERTIES FUNDING II LLC

COUSINS 191 INVESTOR LLC, each a Georgia limited liability company

 	 
	 	By:  	 Cousins Properties Incorporated, as

managing member

 	 
	 	By:  	 	 
	 	 	Name:  	James A. Fleming 	 
	 	 	Title:  	Executive Vice President and Chief Financial Officer 	 
	 

[signature pages continued]

 

 

	 	 	 	 	 
	 	CREC PROPERTY HOLDINGS LLC, a Delaware limited liability company

 	 
	 	By:  	Cousins Real Estate Corporation, a Georgia

Corporation, its Manager and sole member
 	 
	 	By:  	 	 
	 	 	Name:  	James A. Fleming 	 
	 	 	Title:  	Executive Vice President and Chief Financial Officer 	 

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	COUSINS AIRCRAFT ASSOCIATES, LLC

COUSINS WATERVIEW LLC

COUSINS WATERVIEW GP LLC

COUSINS KING MILL, LLC

RIDGEWALK FUNDING LLC

615 PEACHTREE LLC

CCD JUNIPER LLC

SONO RENAISSANCE, LLC

COUSINS MURFREESBORO LLC

CP LAKESIDE 20 GP, LLC

CP LAKESIDE LAND GP, LLC

CP TEXAS INDUSTRIAL LLC

CP SANDY SPRINGS LLC

3280 PEACHTREE I LLC

3280 PEACHTREE III LLC

3280 PEACHTREE IV LLC

3280 PEACHTREE V LLC

3280 PEACHTREE VI LLC

IPC INVESTMENTS II LLC

C/W JEFFERSON MILL I LLC

COUSINS SAN JOSE MARKET CENTER LLC

COUSINS LA FRONTERA GP, LLC

COUSINS LA FRONTERA INVESTOR, LLC

AVENUE WEBB GIN LLC

COUSINS PROPERTIES PALISADES GP, LLC

COUSINS PROPERTIES PALISADES INVESTOR, LLC

CEDAR GROVE LAKES, LLC

NEW LAND REALTY, LLC

PINE MOUNTAIN VENTURES, LLC

CREC LA FRONTERA GP, LLC

BLALOCK LAKES, LLC

COUSINS JEFFERSON MILL, LLC

AVENUE FORSYTH LLC,

each a Georgia limited liability company

 	 
	 	By:  	Cousins Properties Incorporated,

as manager and sole member
 	 
	 	By:  	 	 
	 	 	Name:  	James A. Fleming 	 
	 	 	Title:  	Executive Vice President and Chief Financial Officer 	 
	 

[signature pages continued]

 

 

	 	 	 	 	 
	 	COUSINS AUSTIN GP, INC.

COUSINS AUSTIN, INC.

COUSINS PROPERTIES SERVICES, INC.

COUSINS REAL ESTATE CORPORATION

COUSINS TEXAS GP INC.

CS TEXAS INC., each a Georgia corporation

 	 
	 	By:  	 	 
	 	 	Name:  	James A. Fleming 	 
	 	 	Title:  	Executive Vice President and Chief Financial Officer 	 
	 
	 	COUSINS/DANIEL, LLC, a Georgia limited liability company

 	 
	 	By:  	Cousins, Inc., as managing member

 	 
	 	By:  	 	 
	 	 	Name:  	James A. Fleming 	 
	 	 	Title:  	Executive Vice President and Chief Financial Officer 	 
	 

[signature pages continued]

 

 

	 	 	 	 	 
	 	COUSINS, INC., an Alabama corporation 

 	 
	 	By:  	 	 
	 	 	Name:  	James A. Fleming 	 
	 	 	Title:  	Executive Vice President and

Chief Financial Officer 	 
	 
	 	COUSINS PROPERTIES SERVICES LP, a Texas

limited partnership

 	 
	 	By:  	Cousins Properties Services, Inc.,
 	 
	 	 	as general partner 	 
	 	 	 
	 	By:  	 	 
	 	 	Name:  	James A. Fleming 	 
	 	 	Title:  	Executive Vice President and

Chief Financial Officer 	 
	 
	 	COUSINS PROPERTIES TEXAS LP, a Texas 

limited partnership

 	 
	 	By:  	Cousins Texas GP Inc.,
 	 
	 	 	as general partner 	 
	 	 	 
	 	By:  	 	 
	 	 	Name:  	James A. Fleming 	 
	 	 	Title:  	Executive Vice President and
Chief Financial Officer 	 
	 

[signature pages continued]

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	COUSINS PROPERTIES WATERVIEW LP, a

Texas limited partnership

 	 
	 	By:  	Cousins Waterview GP LLC,
 	 
	 	 	as general partner 	 
	 	 	 
	 	By:  	Cousins Properties Incorporated,
 	 
	 	 	as sole member 	 
	 	 	 
	 	By:  	 	 
	 	 	Name:  	James A. Fleming 	 
	 	 	Title:  	Executive Vice President and
Chief Financial Officer 	 
	 
	 	COUSINS LA FRONTERA LP, a Texas limited

partnership

 	 
	 	By:  	Cousins La Frontera GP, LLC, a
 	 
	 	 	Georgia limited liability company, its 	 
	 	 	General Partner 	 
	 
	 	 	 
	 	By:  	Cousins Properties Incorporated, a
 	 
	 	 	Georgia corporation, its Manager and sole member 	 
	 	 	 
	 	By:  	 	 
	 	 	Name:  	James A. Fleming 	 
	 	 	Title:  	Executive Vice President and
Chief Financial Officer 	 

	 	 	 	 	 
	 	COUSINS CONDOMINIUM DEVELOPMENT,

LLC

CREC LA FRONTERA INVESTOR, LLC, each a

Georgia limited liability company

 	 
	 	By:  	Cousins Real Estate Corporation, a
 	 
	 	 	Georgia corporation, its Manager 	 
	 	 	and sole member 	 
	 	 	 
	 	By:  	 	 
	 	 	Name:  	James A. Fleming 	 
	 	 	Title:  	Executive Vice President and
Chief Financial Officer 	 
	 

 

 

	 	 	 	 	 
	 	KING MILL PROJECT I LLC, a Georgia limited

liability company

 	 
	 	By:  	
C/W King Mill I, LLC, a Georgia limited
 	 
	 	 	liability company, its sole member 	 
	 	 	 
	 	By:  	                                                          Cousins Properties Incorporated, a Georgia
 	 
	 	 	corporation, its managing member 	 
	 	 	 
	 	By:  	
 	 
	 	 	Name:  	James A. Fleming 	 
	 	 	Title:  	Executive Vice President and Chief Financial
Officer 	 
	 
	 	COUSINS PROPERTIES PALISADES, LP,

a Texas limited partnership

 	 
	 	By:  	Cousins Properties Palisades GP, LLC, a Georgia
 	 
	 	 	limited liability company, its General Partner 	 
	 	 	 
	 	By:  	                                                          Cousins Properties Incorporated, a Georgia
 	 
	 	 	corporation, its Manager and Sole Member 	 
	 	 	 
	 	By:  	
 	 
	 	 	Name:  	James A. Fleming 	 
	 	 	Title:  	Executive Vice President and Chief Financial
Officer 	 
	 

	 	 	 	 	 
	 [signature pages continued]

 
	 	 	 
	 	 	 
	 	 	 

 

 

	 	 	 	 	 
	 	CREC LA FRONTERA, LP, a Texas limited 

partnership

 	 
	 	By:  	CREC La Frontera GP, LLC, a Georgia
 	 
	 	 	limited liability company, its General 	 
	 	 	Partner 	 
	 	 	 
	 	By:  	Cousins Real Estate Corporation, a Georgia corporation, its Manager and
 	 
	 	 	Sole Member 	 
	 	 	 
	 	By:  	 	 
	 	 	Name:  	James A. Fleming 	 
	 	 	Title:  	Executive Vice President and
Chief Financial Officer

	 
	
[signature pages continued] 

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	CP VENTURE THREE LLC,

a Delaware limited liability company

 	 
	 	By:  	CP Venture LLC,
 	 
	 	 	as managing member 	 
	 	 	 
	 	By:  	                Cousins Properties Incorporated,
 	 
	 	 	as development member 	 
	 	 	 
	 	By:  	
 	 
	 	 	Name:  	James A. Fleming 	 
	 	 	Title:  	Executive Vice President and Chief
Financial Officer 	 
	 
	 	CP VENTURE SIX LLC, a Delaware limited liability

company

 	 
	 	By:  	CP Venture IV Holdings LLC, as managing
 	 
	 	 	member 	 
	 	 	 
	 	By:  	
Cousins Properties Incorporated, as
 	 
	 	 	development member 	 
	 	 	 
	 	By:  	
 	 
	 	 	Name:  	James A. Fleming 	 
	 	 	Title:  	Executive Vice President and Chief
Financial Officer 	 
	 
	 	CS LAKESIDE LAND LIMITED, LLLP, a Texas 
limited liability
limited partnership

 	 
	 	By:  	CP Lakeside Land GP, LLC, a Georgia  limited
 	 
	 	 	liability company, its General Partner 	 
	 	 	 
	 	By:  	                                              Cousins Properties Incorporated, a
 	 
	 	 	Georgia corporation, its Sole Member 	 
	 	 	 
	 	By:  	
 	 
	 	 	Name:  	James A. Fleming 	 
	 	 	Title:  	Executive Vice President and Chief
Financial Officer 	 
	 

	 	 	 	 	 
	[signature pages continued]

 
	 	 	 
	 	 	 
	 	 	 

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	CS LAKESIDE 20 LIMITED, LLLP, a Texas limited

liability limited partnership

 	 
	 	By:  	CP Lakeside 20 GP, LLC, a Georgia  limited
 	 
	 	 	liability company, its General Partner 	 
	 	 	 
	 	By:  	
Cousins Properties Incorporated, a
 	 
	 	 	Georgia corporation, its Sole Member 	 
	 	 	 
	 	By:  	
 	 
	 	 	Name:  	James A. Fleming 	 
	 	 	Title:  	Executive Vice President and Chief
Financial Officer 	 
	 
	 	CCD 10 TERMINUS PLACE, LLC, a Georgia limited

liability company

 	 
	 	By:  	Cousins Condominium Development, LLC, a
 	 
	 	 	Georgia limited liability company, its Sole 	 
	 	 	Member 	 
	 	 	 
	 	By:  	                                                     Cousins Real Estate Corporation, a Georgia
 	 
	 	 	corporation, its Manager and Sole Member 	 
	 	 	 
	 	By:  	
 	 
	 	 	Name:  	James A. Fleming 	 
	 	 	Title:  	Executive Vice President and Chief
Financial Officer 	 
	 
	 	C-H ASSOCIATES, LTD., a Georgia limited 

partnership

 	 
	 	By:  	Cousins Texas LLC, a Georgia limited
 	 
	 	 	liability company, its General Partner 	 
	 	 	 
	 	By:  	                                                       Cousins Properties Incorporated, a
 	 
	 	 	Georgia Corporation, its Managing Member 	 
	 	 	 
	 	By:  	
 	 
	 	 	Name:  	James A. Fleming 	 
	 	 	Title:  	Executive Vice President and Chief
Financial Officer 	 
	 

	 	 	 	 	 
	[signature pages continued]

 
	 	 	 
	 	 	 
	 	 	 

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	ONE NINETY ONE PEACHTREE ASSOCIATES LLC, a Georgia
limited liability company

 	 
	 	By:  	CPI 191 LLC, a Georgia limited liability
 	 
	 	 	company, its Managing Member 	 
	 	 	 
	 	By:  	                                                       Cousins Properties Incorporated, a
 	 
	 	 	Georgia Corporation, its Managing Member 	 
	 	 	 
	 	By:  	
 	 
	 	 	Name:  	James A. Fleming 	 
	 	 	Title:  	Executive Vice President and
Chief Financial Officer 	 
	 

	 	 	 	 	 
	[signature pages continued]

 
	 	 	 
	 	 	 
	 	 	 

 

 

	 	 	 	 	 

LENDERS/AGENTS:

	 	 	 	 	 
	 	BANK OF AMERICA, N.A.,
individually in its capacity as a Lender, as
Administrative Agent as L/C Issuer and 
Swing
Line Lender

 	 
	 	By:  	
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 

	 	 	 	 	 
	[signature pages continued]

 
	 	 	 
	 	 	 
	 	 	 

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	EUROHYPO AG, NEW YORK BRANCH,

individually in its capacity as a Lender and as

Syndication Agent

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

	 	 	 	 	 
	[signature pages continued]
	 	 	 
	 	 	 
	 	 	 

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	PNC BANK, NATIONAL ASSOCIATION,

individually in its capacity as a Lender and as

Documentation Agent

 	 
	 	By:  	
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

	 	 	 	 	 
	[signature pages continued]

 
	 	 	 
	 	 	 
	 	 	 

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	WACHOVIA BANK, NATIONAL ASSOCIATION,

individually in its capacity as a Lender and as

Documentation Agent

 	 
	 	By:  	
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	WELLS FARGO BANK, NATIONAL ASSOCIATION,

individually in its capacity as a Lender and as

Documentation Agent

 	 
	 	By:  	
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 

	 	 	 	 	 
	[signature pages continued]

 
	 	 	 
	 	 	 
	 	 	 

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	NORDDEUTSCHE LANDESBANK GIROZENTRALE, individually in

its capacity as a Lender and as Managing Agent

 	 
	 	By:  	
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 

	 	 	 	 	 
	[signature pages continued]

 
	 	 	 
	 	 	 
	 	 	 

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	AAREAL BANK AG,
individually in its capacity as a Lender and as Co-Agent

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

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	CHARTER ONE BANK, N.A.,
individually in its capacity as a Lender and as Co-Agent

 	 
	 	By:  	
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

 

 

	 	 	 	 	 
	 	REGIONS BANK,

individually in its capacity as a Lender and as Co-Agent

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	US BANK,

as a Lender

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	THE NORTHERN TRUST COMPANY,

as a Lender

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	BANK OF NORTH GEORGIA,

as a Lender

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	MIDFIRST BANK, a Federally
Chartered Savings 
Association,
as a Lender

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	CHEVY CHASE BANK, FSB,

as a Lender

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	COMPASS BANK, an Alabama banking corporation,

as a Lender

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	ATLANTIC CAPITAL BANK,

as a Lender

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

 

 

SCHEDULE
1.1(a)

EXISTING LETTERS OF CREDIT

SEE ATTACHED.

 

 

SCHEDULE
1.1(b)

INVESTMENT ENTITIES

Charlotte Gateway Village, LLC

Deerfield Towne Center, LLC

50 Biscayne LLC

Verde Group, LLC

CP Venture Two LLC

Stonebridge at Newnan Crossing, LLC

McKinney Village Park, L.P.

McKinney Village North Park, LP

LM Land Holdings, LP

LM Farms, Inc.

LM Development, LP

P12025, LLC (Temco investment entity)

TGR Land, L.P. (Temco investment entity)

TRG Columbus Development Venture, Ltd

CL Chatham, LLC

TGR Golf, L.P.

 

 

SCHEDULE 2.01(a)

REVOLVING CREDIT COMMITMENTS

AND PRO RATA SHARES

	 	 	 	 	 	 	 	 	 
	 	 	Revolving Credit	 	 
	Lender	 	Commitment	 	Pro Rata Share
	 
	 
	 	 	 	 	 	 	 	 
	Bank of America, N.A.
	 	$	55,000,000	 	 	 	11.000000000	%
	Eurohypo AG, New York Branch
	 	$	50,000,000	 	 	 	10.000000000	%
	PNC Bank, National Association
	 	$	50,000,000	 	 	 	10.000000000	%
	Wachovia Bank, National Association
	 	$	50,000,000	 	 	 	10.000000000	%
	Wells Fargo Bank, National Association
	 	$	50,000,000	 	 	 	10.000000000	%
	Norddeutsche Landesbank Girozentrale
	 	$	43,000,000	 	 	 	8.600000000	%
	Aareal Bank AG
	 	$	30,000,000	 	 	 	6.000000000	%
	Charter One Bank, N.A.
	 	$	30,000,000	 	 	 	6.000000000	%
	Regions Bank
	 	$	30,000,000	 	 	 	6.000000000	%
	US Bank
	 	$	24,000,000	 	 	 	4.800000000	%
	The Northern Trust Company
	 	$	22,000,000	 	 	 	4.400000000	%
	Bank of North Georgia
	 	$	17,000,000	 	 	 	3.400000000	%
	MidFirst Bank
	 	$	17,000,000	 	 	 	3.400000000	%
	Chevy Chase Bank, FSB
	 	$	15,000,000	 	 	 	3.000000000	%
	Compass Bank
	 	$	10,000,000	 	 	 	2.000000000	%
	Atlantic Capital Bank
	 	$	7,000,000	 	 	 	1.400000000	%
	Total
	 	$	500,000,000	 	 	 	100.0000000	%

 

 

SCHEDULE 2.01(b)

TERM COMMITMENTS

AND PRO RATA SHARES

	 	 	 	 	 	 	 	 	 
	 	 	Term Loan	 	 
	Lender	 	Commitment	 	Pro Rata Share
	 
	 
	 	 	 	 	 	 	 	 
	Bank of America, N.A.
	 	$	19,000,000	 	 	 	19.000000000	%
	Eurohypo AG, New York Branch
	 	$	10,000,000	 	 	 	10.000000000	%
	PNC Bank, National Association
	 	$	10,000,000	 	 	 	10.000000000	%
	Wachovia Bank, National Association
	 	$	10,000,000	 	 	 	10.000000000	%
	Wells Fargo Bank, National Association
	 	$	10,000,000	 	 	 	10.000000000	%
	Norddeutsche Landesbank Girozentrale
	 	$	7,000,000	 	 	 	7.000000000	%
	Aareal Bank AG
	 	$	6,000,000	 	 	 	6.000000000	%
	Charter One Bank, N.A.
	 	$	6,000,000	 	 	 	6.000000000	%
	Regions Bank
	 	$	6,000,000	 	 	 	6.000000000	%
	US Bank
	 	$	3,000,000	 	 	 	3.000000000	%
	The Northern Trust Company
	 	$	3,000,000	 	 	 	3.000000000	%
	Bank of North Georgia
	 	$	3,000,000	 	 	 	3.000000000	%
	MidFirst Bank
	 	$	3,000,000	 	 	 	3.000000000	%
	Compass Bank
	 	$	2,000,000	 	 	 	2.000000000	%
	Atlantic Capital Bank
	 	$	2,000,000	 	 	 	2.000000000	%
	Total
	 	$	100,000,000	 	 	 	100.0000000	%

 

 

SCHEDULE 5.05

SUPPLEMENT TO INTERIM FINANCIAL STATEMENTS

SEE ATTACHED.

 

 

SCHEDULE 5.06

LITIGATION

NONE.

 

 

SCHEDULE 5.09

ENVIRONMENTAL MATTERS

NONE.

 

 

SCHEDULE 5.12

ERISA MATTERS

NONE.

 

 

SCHEDULE 5.13

CONSOLIDATED ENTITIES AND OTHER EQUITY INVESTMENTS

IN UNCONSOLIDATED ENTITIES AND INVESTMENT ENTITIES

			
	Part (a).	 	Consolidated Entities.

Carriage Avenue, LLC

Cousins Real Estate Corporation

Cousins Aircraft Associates, LLC

Cousins/Myers Second Street Partners, L.L.C.

Cousins/Myers II, LLC

Cousins/Daniel, LLC

Cousins, Inc.

Cousins Austin GP, Inc,

Cousins Texas LLC

Cousins Properties Texas LP

Cousins Waterview GP LLC

Cousins Properties Waterview LP

Cousins Waterview LLC

Cedar Grove Lakes, LLC

Cousins Development, Inc.

Cousins Real Estate Development Inc.

Pine Mountain Ventures, LLC

New Land Realty, LLC

Cousins MarketCenters, Inc.

CS Texas Inc.

Cousins Properties Services, Inc.

Cousins Properties Services LP

CP Venture Three LLC

Presidential MarketCenter LLC (Inactive)

Perimeter Expo Associates, L.P. (Inactive)

Longleaf Realty, LLC

CREC Property Holdings LLC

Cousins Condominium Development, LLC

C/W King Mill I, LLC

905 Juniper Venture, LLC

King Mill Project I, LLC

Cousins King Mill, LLC

Cousins Jefferson Mill, LLC

3280 Peachtree I LLC

Cousins LaFrontera, LP

Cousins LaFrontera GP, LLC

Cousins LaFrontera Investor, LLC

Cousins Properties Palisades, LP

 

 

Cousins Properties Palisades GP, LLC

Cousins Properties Palisades Investor, LLC

IPC Investments LLC

Cousins Austin, Inc

Cousins Texas GP Inc

Cousins San Jose MarketCenter LLC

Avenue Webb Gin LLC

Cousins Properties Funding II LLC

CPI 191 LLC

Cousins 191 Investor LLC

Ridgewalk Funding LLC

615 Peachtree LLC

CCD Juniper LLC

Sono Renaissance, LLC

Cousins Murfressboro LLC

CP Lakeside 20 GP, LLC

CP Lakeside Land GP, LLC

CP Texas Industrial, LLC

CP Sandy Springs LLC

Avenue Forsyth LLC

CREC La Frontera GP, LLC

Blalock Lakes, LLC

CREC La Frontera Investor, LLC

CREC La Frontera LP

CP Venture Six LLC

CS Lakeside Land Limited, LLLP

CS Lakeside 20 Limited, LLLP

CCD 10 Terminus Place, LLC

C-H Associates, Ltd.

One Ninety One Peachtree Associates LLC

Cousins Tiffany Springs MarketCenter LLC

C/W Jefferson Mill I, LLC

Jefferson Mill Project I LLC

IPC Investments II LLC

3280 Peachtree III LLC

3280 Peachtree IV LLC

3280 Peachtree V LLC

3280 Peachtree VI LLC

			
	Part (b).	 	Unconsolidated Entities and Investment Entities.

Unconsolidated Entities:

Brad Cous Golf Venture, Ltd.

CC-JM II Associates

Cousins LORET Venture, L.L.C.

 

 

Crawford Long-CPI, LLC

CSC Associates, L.P.

Nonami Aircraft Facility Associates

Ten Peachtree Place Associates

Wildwood Associates

CPI/FSP I, L.P.

Temco Associates, LLC

New Georgian, LLC

Bentwater Links, LLC

CP Venture LLC

Pine Mountain Builders, LLC

CL Realty, L.L.C.

CL Texas I GP, L.L.C.

CL Texas I, L.L.C.

CL Texas, L.P.

Summer Creek Development, Ltd.

Handy Road Associates, LLC

CL Westpark, LLC

CL Ashton Woods, LP

Palisades West, LLC

CF Murfreesboro Associates

CP Venture IV Holdings LLC

CP Venture Five LLC

CP Venture Five — AWC LLC

CP Venture Five — APC LLC

CP Venture Five — AEC LLC

CP Venture Five — AV LLC

CP Venture Five — AMC LLC

Investment Entities:

Charlotte Gateway Village, LLC

Deerfield Towne Center, LLC

50 Biscayne LLC

Verde Group, LLC

CP Venture Two LLC

Stonebridge at Newnan Crossing, LLC

McKinney Village Park, L.P.

McKinney Village North Park, LP

LM Land Holdings, LP

LM Farms, Inc.

LM Development, LP

P12025, LLC (Temco investment entity)

TGR Land, L.P. (Temco investment entity)

 

 

TRG Columbus Development Venture, Ltd

CL Chatham, LLC

TGR Golf, L.P.

 

 

SCHEDULE 5.17

INTELLECTUAL PROPERTY MATTERS

NONE.

 

 

SCHEDULE 10.02

ADMINISTRATIVE AGENT’S OFFICE,

CERTAIN ADDRESSES FOR NOTICES

	 	 	 
	Cousins Properties Incorporated
	191 Peachtree Street, N.E.
	Suite 3600
	 	 
	Atlanta, Georgia 30303
	Attention: Chief Financial Officer
	Telephone:  (404) 407-1150
	Facsimile:    (404) 407-1151
	Electronic Mail:
	 	jimfleming@cousinsproperties.com
	Website Address:
	 	www.cousinsproperties.com
	U.S. Taxpayer Identification Number: 58-0869052

	with copies to: 	 	

	 	 	 
	Cousins Properties Incorporated
	191 Peachtree Street, N.E.
	Suite 3600
	 	 
	Atlanta, Georgia 30303
	Attention: Corporate Secretary
	Telephone:  (404) 407-1310
	Facsimile:    (404) 407-1151
	Electronic Mail:
	 	corporatesecretary@cousinsproperties.com
	Website Address:
	 	www.cousinsproperties.com

and:

McKenna Long & Aldridge LLP

Suite 5300

303 Peachtree Street

Atlanta, GA 30308

Attention: William F. Timmons, Esq.

Direct Telephone: 404-527-8380

Fax: 404-527-4198

email: btimmons@mckennalong.com

[notices to Co-Borrowers and Guarantors shall go to each of the above addresses and, in the case of
the first two addresses, to the name of such Co-Borrower or Guarantor, as applicable, c/o Cousins
Properties Incorporated]

 

 

ADMINISTRATIVE AGENT:

Administrative Agent’s Office

(for payments and Requests for Credit Extensions):

Bank of America, N.A., as Agent

901 Main Street

Mail Code: TX1 492-14-14

Dallas, TX 75202

Attention: Annette Hunt

Telephone:  214.209.4108

Facsimile:   214.290.8378

Electronic Mail: Annette.p.hunt@bankofamerica.com

Account No.: 1292000883

Ref: Cousins Properties, Inc.

ABA# 0260-0959-3

Other Notices as Administrative Agent:

Bank of America, N.A., as Agent

Kimberly D. Williams

Agency Management — East

101 North Tryon Street, 15th Floor

NC1-001-15-14

Charlotte, NC 28255

Voice:  704.387.5448

Fax:     704.409.0650

e-mail: kim.williams@bankofamerica.com

L/C ISSUER:

Bank of America, N.A.

Trade Finance-Los Angeles #22621

1000 W. Temple Street, 7th Floor

Mail Code: CA9-705-07-05

Los Angeles, CA 90012-1514

Attention:   Denise Norwood

Telephone:  213.481.7829

Facsimile:    213.580.8442

Electronic Mail: denise.norwood@bankofamerica.com

 

 

SWING LINE LENDER:

Bank of America, N.A.

901 Main Street

TX1 492-14-14

Dallas, TX 75202

Attention: Annette Hunt

Telephone:  214.209.4108

Facsimile:   214.290.8378

Electronic Mail: annette.p.hunt@bankofamerica.com

Account No.: 1292000883

Ref: Cousins Properties, Inc.

ABA# 0260-0959-3

 

 

EXHIBIT A

FORM OF REVOLVING CREDIT LOAN NOTICE

Date:                               ,               

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

Ladies and Gentlemen:

     Reference is made to that certain Amended and Restated Credit Agreement, dated as of August [   ], 2007 (as amended, restated, extended, supplemented or otherwise modified in writing from time to
time, the “Agreement;” the terms defined therein being used herein as therein defined),
among Cousins Properties Incorporated, a Georgia corporation (the “Borrower”), the Lenders
from time to time party thereto, the Co-Borrowers from time to time party thereto, the Guarantors
from time to time party thereto and Bank of America, N.A., as Administrative Agent, L/C Issuer and
Swing Line Lender.

The undersigned hereby requests (select one):

	 	 	 	 	 
	 

	 	o A Borrowing of Revolving Credit Loans

	 	o A conversion or continuation of Revolving Credit Loans

	1.	 	     On                                                              (a Business Day).
	 
	2.	 	     In the amount of $                                  .
	 
	3.	 	     Comprised of                                          .

                                [Type of Revolving Credit Loan requested]
	 
	4.	 	For Eurodollar Rate Loans: with an Interest Period of                months.

     [The Revolving Credit Borrowing requested herein complies with the proviso to the first
sentence of Section 2.01(a) of the Agreement. The supplemental information (if any)
attached hereto is hereby added to Schedule(s) 5.06, 5.09 and 5.17 (as
applicable) of the Agreement.]

	 	 	 	 	 
	 	[BORROWER] [on behalf of _________, in its

capacity as agent for such Co-Borrower under the

Agreement]

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

A-1

 

	 	 	 	 	 

EXHIBIT B

FORM OF TERM LOAN NOTICE

Date:                                    ,              

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

Ladies and Gentlemen:

     Reference is made to that certain Amended and Restated Credit Agreement, dated as of August [   ], 2007 (as amended, restated, extended, supplemented or otherwise modified in writing from time to
time, the “Agreement;” the terms defined therein being used herein as therein defined),
among Cousins Properties Incorporated, a Georgia corporation (the “Borrower”), the Lenders
from time to time party thereto, the Co-Borrowers from time to time party thereto, the Guarantors
from time to time party thereto and Bank of America, N.A., as Administrative Agent, L/C Issuer and
Swing Line Lender.

The undersigned hereby requests (select one):

	 	 	 	 	 
	 

	 	o A Borrowing of Term Loans
	 	o A conversion or continuation of Term Loans

	1.	 	     On                                                      (a Business Day).

	2.	 	     In the amount of $                                              .

	3.	 	     Comprised of                                                      .

                                [Type of Term Loan requested]
	 
	4.	 	For Eurodollar Rate Loans: with an Interest Period of                      months.

     [The supplemental information (if any) attached hereto is hereby added to Schedule(s)
5.06, 5.09 and 5.17 (as applicable) of the Agreement.]

	 	 	 	 	 
	 	[BORROWER] [on behalf of _________, in its

capacity as agent for such Co-Borrower under the

Agreement]

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

B-1

 

	 	 	 	 	 

EXHIBIT C

FORM OF SWING LINE LOAN NOTICE

Date:                                    ,              

			
	To:	 	Bank of America, N.A., as Swing Line Lender

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

Ladies and Gentlemen:

     Reference is made to that certain Amended and Restated Credit Agreement, dated as of August [   ], 2007 (as amended, restated, extended, supplemented or otherwise modified in writing from time
to time, the “Agreement;” the terms defined therein being used herein as therein defined),
among Cousins Properties Incorporated, a Georgia corporation (the “Borrower”), the Lenders
from time to time party thereto, the Co-Borrowers from time to time party thereto, the Guarantors
from time to time party thereto and Bank of America, N.A., as Administrative Agent, L/C Issuer and
Swing Line Lender.

The undersigned hereby requests a Swing Line Loan:

	1.	 	     On                                                              (a Business Day).
	 
	2.	 	     In the amount of $                                 .

     The Swing Line Borrowing requested herein complies with the requirements of the provisos to
the first sentence of Section 2.04(a) of the Agreement. The supplemental information (if
any) attached hereto is hereby added to Schedule(s) 5.06, 5.09 and 5.17 (as
applicable) of the Agreement.

	 	 	 	 	 
	 	[BORROWER] [on behalf of                     , in its

capacity as agent for such Co-Borrower under the

Agreement]

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

C-1

 

EXHIBIT D-1

FORM OF REVOLVING CREDIT NOTE

                    

     FOR VALUE RECEIVED, the undersigned, [in its capacity as the Borrower under the Agreement
referenced below (the [“Borrower”]) / in its capacity as a Co-Borrower under the Agreement
referenced below (the “Subject Co-Borrower”)], hereby promises to pay to the order of
                     or registered assigns (the “Lender”), in accordance with the
provisions of the Agreement (as hereinafter defined), the principal amount of each Revolving Credit
Loan from time to time made by the Lender to the [Subject Co-]Borrower under that certain Amended
and Restated Credit Agreement, dated as of August [     ], 2007 (as amended, restated, extended,
supplemented or otherwise modified in writing from time to time, the “Agreement;” the terms
defined therein being used herein as therein defined), among the [Borrower / Cousins Properties
Incorporated], [the Subject Co-Borrower and the other Co-Borrowers from time to time party thereto
/ the Co-Borrowers from time to time party thereto], the Guarantors from time to time party
thereto, the Lenders from time to time party thereto and Bank of America, N.A., as Administrative
Agent, L/C Issuer and Swing Line Lender.

     The [Subject Co-]Borrower promises to pay interest on the unpaid principal amount of each
Revolving Credit Loan from the date of such Revolving Credit Loan until such principal amount is
paid in full, at such interest rates and at such times as provided in the Agreement. Except as
otherwise provided in Section 2.04(f) of the Agreement with respect to Swing Line Loans,
all payments of principal and interest shall be made to the Administrative Agent for the account of
the Revolving Credit Lender in Dollars in immediately available funds at the Administrative Agent’s
Office. If any amount is not paid in full when due hereunder, such unpaid amount shall bear
interest, to be paid as provided in the Agreement, from the due date thereof until the date of
actual payment (and before as well as after judgment) computed at the per annum rate set forth in
the Agreement.

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

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

D-1-1
Form of Revolving Credit Note

 

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

	 	 	 	 	 
	 	[BORROWER / SUBJECT CO-BORROWER]

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

D-1-2
Form of Revolving Credit Note

 

LOANS AND PAYMENTS WITH RESPECT THERETO

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

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 

D-1-3
Form of Revolving Credit Note

 

EXHIBIT D-2

FORM OF TERM NOTE

                    

     FOR VALUE RECEIVED, the undersigned, [in its capacity as the Borrower under the Agreement
referenced below (the [“Borrower”]) / in its capacity as a Co-Borrower under the Agreement
referenced below (the “Subject Co-Borrower”)], hereby promises to pay to the order of
                     or registered assigns (the “Lender”), in accordance with the
provisions of the Agreement (as hereinafter defined), the principal amount of each Term Loan made
by the Lender to the [Subject Co-]Borrower under that certain Amended and Restated Credit
Agreement, dated as of August [     ], 2007 (as amended, restated, extended, supplemented or
otherwise modified in writing from time to time, the “Agreement;” the terms defined therein
being used herein as therein defined), among the [Borrower / Cousins Properties Incorporated], [the
Subject Co-Borrower and the other Co-Borrowers from time to time party thereto / the Co-Borrowers
from time to time party thereto], the Guarantors from time to time party thereto, the Lenders from
time to time party thereto and Bank of America, N.A., as Administrative Agent, L/C Issuer and Swing
Line Lender.

     The [Subject Co-]Borrower promises to pay interest on the unpaid principal amount of each Term
Loan from the date of such Term Loan until such principal amount is paid in full, at such interest
rates and at such times as provided in the Agreement. All payments of principal and interest shall
be made to the Administrative Agent for the account of the Term Lender in Dollars in immediately
available funds at the Administrative Agent’s Office. If any amount is not paid in full when due
hereunder, such unpaid amount shall bear interest, to be paid as provided in the Agreement, from
the due date thereof until the date of actual payment (and before as well as after judgment)
computed at the per annum rate set forth in the Agreement.

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

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

D-2-1
Form of Term Note

 

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

	 	 	 	 	 
	 	[BORROWER / SUBJECT CO-BORROWER]

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

D-2-2
Form of Term Note

 

LOANS AND PAYMENTS WITH RESPECT THERETO

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

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 

D-2-3
Form of Term Note

 

EXHIBIT E

FORM OF COMPLIANCE CERTIFICATE

     Financial Statement Date:                     ,

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

Ladies and Gentlemen:

     Reference is made to that certain Amended and Restated Credit Agreement, dated as of August
[   ], 2007 (as amended, restated, extended, supplemented or otherwise modified in writing from time
to time, the “Agreement;” the terms defined therein being used herein as therein defined),
among Cousins Properties Incorporated, a Georgia corporation (the “Borrower”), the Lenders
from time to time party thereto, the Co-Borrowers from time to time party thereto, the Guarantors
from time to time party thereto and Bank of America, N.A., as Administrative Agent, L/C Issuer and
Swing Line Lender.

     The undersigned Responsible Officer hereby certifies as of the date hereof that he/she is the
                                                          
                    
of the Borrower, and that, as such, he/she is authorized to execute and deliver this Certificate to
the Administrative Agent on the behalf of the Borrower and the Borrower Parties, and that:

[Use following paragraph 1 for calendar year-end financial statements]

     1. Attached hereto as Schedule 1 are the year-end audited financial statements
required by Section 6.01(a) of the Agreement for the calendar year of the Borrower ended as
of the above date, together with the report and opinion of an independent certified public
accountant required by such section.

[Use following paragraph 1 for calendar quarter-end financial statements]

     1. Attached hereto as Schedule 1 are the unaudited financial statements required by
Section 6.01(b) of the Agreement for the calendar quarter of the Borrower ended as of the
above date. Such financial statements fairly present the financial condition, results of
operations and cash flows of the Borrower and the Consolidated Entities in accordance with GAAP as
at such date and for such period, subject only to normal year-end audit adjustments and the absence
of footnotes.

     2. The undersigned has reviewed and is familiar with the terms of the Agreement and has made,
or has caused to be made under his/her supervision, a detailed review of the transactions and
condition (financial or otherwise) of the Borrower during the accounting period covered by the
attached financial statements.

     3. The undersigned has reviewed and is familiar with the terms of the Agreement and has made,
or has caused to be made under his/her supervision, a detailed review of the activities of the
Borrower during such calendar period and such review has been undertaken with

E-1

Form of Compliance Certificate

 

 

a view to determining whether during such calendar period the Borrower performed and
observed all its Obligations under the Loan Documents, and

[select one:]

     [to the best knowledge of the undersigned during such calendar period, the Borrower performed
and observed each covenant and condition of the Loan Documents applicable to it.]

—or—

     [the following covenants or conditions have not been performed or observed and the following
is a list of each such Default and its nature and status:]

     4. The representations and warranties of the Loan Parties contained in Article V or
any other Loan Document, or which are contained in any document furnished at any time under this
Agreement, are true and correct in all material respects on and as of the date hereof, except to
the extent of changes resulting from matters permitted under the Loan Documents or other changes in
the ordinary course of business not having a Material Adverse Effect, and except to the extent that
such representations and warranties specifically refer to an earlier date, in which case they shall
be true and correct as of such earlier date, and except that for purposes of this Compliance
Certificate, (a) the representations and warranties contained in subsections (a) and (b) of
Section 5.05 of the Agreement shall be deemed to refer to the most recent statements
furnished pursuant to clauses (a) and (b), respectively, of Section 6.01 of the Agreement,
including the statements in connection with which this Compliance Certificate is delivered; (b)
Schedule(s) 5.06, 5.09, 5.13 and 5.17 (as applicable) of the
Agreement are deemed to include any supplemental information thereto provided in any Compliance
Certificate or Request for Credit Extensions delivered prior to the date hereof and the
supplemental information (if any) attached hereto.

     5. The financial covenant analyses and information set forth on Schedule 2 and
Schedule 3 attached hereto are true and accurate on and as of the date of this Certificate.

     6. Schedule 4 attached hereto sets forth (a) a calculation of the Borrower’s
Consolidated Leverage Ratio as of the end of the preceding taxable year and (b) all Restricted
Payments made by the Borrower during the current taxable year pursuant to Section 7.06(a) of the
Credit Agreement.

     IN WITNESS WHEREOF, the undersigned has executed this Certificate as
of                                         ,                      .

	 	 	 	 	 
	 	[BORROWER]

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

E-2

Form of Compliance Certificate

 

 

For the Quarter/Year ended                                          (“Statement Date”)

SCHEDULE 2

E-3

Form of Compliance Certificate

 

 

EXHIBIT F

ASSIGNMENT AND ASSUMPTION

     This Assignment and Assumption (this “Assignment and Assumption”) is dated as of the
Effective Date set forth below and is entered into by and between [the][each]1 Assignor
identified in item 1 below ([the][each, an] “Assignor”) and [the][each]2
Assignee identified in item 2 below ([the][each, an] “Assignee”). [It is understood and
agreed that the rights and obligations of [the Assignors][the Assignees]3 hereunder are
several and not joint.]4 Capitalized terms used but not defined herein shall have the
meanings given to them in the Credit Agreement identified below (the “Credit Agreement”),
receipt of a copy of which is hereby acknowledged by the Assignee. The Standard Terms and
Conditions set forth in Annex 1 attached hereto are hereby agreed to and incorporated herein by
reference and made a part of this Assignment and Assumption as if set forth herein in full.

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

 

			
	1	 	For bracketed language here and elsewhere in
this form relating the Assignor(s), if the assignment is from a single
Assignor, choose the first bracketed language. If the assignment is from
multiple Assignors, choose the second bracketed language.
	 
	2	 	For bracketed language here and elsewhere in
this form relating the Assignee(s), if the assignment is to a single Assignee,
choose the first bracketed language. If the assignment is to multiple
Assignees, choose the second bracketed language.
	 
	3	 	Select as appropriate.
	 
	4	 	Include bracketed language if there are
either multiple Assignors or multiple Assignees.

F-1

Assignment and Assumption

 

 

	 	 	 	 	 
	1.

	 	Assignor[s]:
	 	                                                            
	 
	 	 	 	 
	2.

	 	Assignee[s]:
	 	                                                             [for each Assignee, indicate

[Affiliate][Approved Fund] of [identify Lender]]
	 
	 	 	 	 
	3.

	 	Borrower(s):
	 	Cousins Properties Incorporated
	 
	 	 	 	 
	4.

	 	Administrative Agent:
	 	Bank of America, N.A., as the administrative agent under the Credit
Agreement
	 
	 	 	 	 
	5.

	 	Credit Agreement:
	 	The Amended and Restated Credit Agreement, dated as of August [     ], 2007,
among Cousins Properties Incorporated, the Lenders parties thereto, the Co-Borrowers from
time to time party thereto, the Guarantors parties thereto and Bank of America, N.A., as
Administrative Agent
	 
	 	 	 	 
	6.

	 	Assigned Interest[s]:	 	 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	Aggregate	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	Amount of	 	Amount of	 	Percentage	 	 
	 	 	 	 	 	 	 	 	 	 	Commitment/	 	Commitment/	 	Assigned of	 	 
	 	 	 	 	 	 	 	 	 	 	Loans for	 	Loans	 	Commitment/	 	CUSIP
	Facility Assigned5	 	Assignor[s]6	 	Assignee[s]7	 	all Lenders*	 	Assigned*	 	Loans8	 	Number
	Revolving Credit Facility
	 	 	 	 	 	 	 	 	 	$	                    	 	 	$	                    	 	 	 	                    	%	 	 	 	 
	Term Facility
	 	 	 	 	 	 	 	 	 	$	                    	 	 	$	                    	 	 	 	                    	%	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	$	                    	 	 	$	                    	 	 	 	                    	%	 	 	 	 

[7.   Trade Date:                                            ]9

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

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

	 	 	 	 	 
	 	ASSIGNOR

[NAME OF ASSIGNOR]

 	 
	 	By:  	 	 
	 	 	Title: 	 
	 	 	 	 
	 

 

			
	5	 	 Fill in the appropriate terminology for the
types of facilities under the Credit Agreement that are being assigned under
this Assignment (e.g. “Revolving Credit Commitment”, “Term
Loan Commitment”, etc.).
	 
	6	 	List each Assignor, as appropriate.
	 
	7	 	List each Assignee, as appropriate.
	 
	8	 	 Set forth, to at least 9 decimals, as a
percentage of the Commitment/Loans of all Lenders thereunder.
	 
	9	 	 To be completed if the Assignor and the
Assignee intend that the minimum assignment amount is to be determined as of
the Trade Date.

F-2

Assignment and Assumption

 

 

	 	 	 	 	 
	 	ASSIGNEE

[NAME OF ASSIGNEE]

 	 
	 	By:  	 	 
	 	 	Title: 	 
	 	 	 	 
	 

[Consented to and] Accepted:

BANK OF AMERICA, N.A.,

as Administrative Agent

	 	 	 	 	 
	 	 	 
	By:  	 	 	 
	 	Title: 	 	 
	 	 	 	 
	 

[Consented to:]10

	 	 	 	 	 
	 	 	 
	By:  	 	 	 
	 	Title: 	 	 
	 	 	 	 
	 

 

			
	10	 	To be added only if the consent of the
Borrower and/or other parties (e.g. Swing Line Lender, L/C Issuer) is required
by the terms of the Credit Agreement.

F-3

Assignment and Assumption

 

 

ANNEX 1 TO ASSIGNMENT AND ASSUMPTION

STANDARD TERMS AND CONDITIONS FOR

ASSIGNMENT AND ASSUMPTION

          1. Representations and Warranties.

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

          1.2. Assignee. [The][Each] Assignee (a) represents and warrants that (i) it has full
power and authority, and has taken all action necessary, to execute and deliver this Assignment and
Assumption and to consummate the transactions contemplated hereby and to become a Lender under the
Credit Agreement, (ii) it meets all the requirements of an Eligible Assignee under the Credit
Agreement (subject to such consents, if any, as may be required under Section 10.07(b)(iii) of the
Credit Agreement), (iii) from and after the Effective Date, it shall be bound by the provisions of
the Credit Agreement as a Lender thereunder and, to the extent of [the][the relevant] Assigned
Interest, shall have the obligations of a Lender thereunder, (iv) it is sophisticated with respect
to decisions to acquire assets of the type represented by [the][such] Assigned Interest and either
it, or the Person exercising discretion in making its decision to acquire [the][such] Assigned
Interest, is experienced in acquiring assets of such type, (v) it has received a copy of the Credit
Agreement, and has received or has been accorded the opportunity to receive copies of the most
recent financial statements delivered pursuant to Section 6.01 thereof, as applicable, and such
other documents and information as it deems appropriate to make its own credit analysis and
decision to enter into this Assignment and Assumption and to purchase [the][such] Assigned
Interest, (vi) it has, independently and without reliance upon the Administrative Agent or any
other Lender and based on such documents and information as it has deemed appropriate, made its own
credit analysis and decision to enter into this Assignment and Assumption and to purchase
[the][such] Assigned Interest and (vii) if it is a Foreign Lender, attached hereto is any
documentation required to be delivered by it pursuant to the terms of the Credit Agreement, duly
completed and executed by [the][such] Assignee; and (b) agrees that (i) it will, independently and
without reliance upon the Administrative Agent, [the][any] Assignor or any other Lender, and based
on such documents and information as it shall deem appropriate at the time, continue to make its
own credit decisions in taking or not taking action under the Loan Documents, and (ii) it will
perform in accordance with their terms all of the obligations which by the terms of the Loan
Documents are required to be performed by it as a Lender.

F-4

Assignment and Assumption

 

 

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

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

F-5

Assignment and Assumption

 

 

EXHIBIT G

FORM OF JOINDER AGREEMENT

     THIS JOINDER AGREEMENT (the “Agreement”), dated as of ____________, 20___, is by and between
____________________,
a __________________ (the “Consolidated Entity”), and BANK OF AMERICA,
N.A., in its capacity as Administrative Agent under that certain Amended and Restated Credit
Agreement (as it may be amended, modified, restated or supplemented from time to time, the “Credit
Agreement”), dated as of August [ ], 2007, by and among Cousins Properties Incorporated, a
Georgia corporation (the “Borrower”), the Co-Borrowers from time to time party thereto, the
Guarantors, the Lenders and Bank of America, N.A., as Administrative Agent. All of the defined
terms in the Credit Agreement are incorporated herein by reference.

     The Loan Parties are required by Section 6.12 of the Credit Agreement to cause the
Consolidated Entity to become a “Guarantor”.

     1. Accordingly, the Consolidated Entity hereby acknowledges, agrees and confirms with the
Administrative Agent, for the benefit of the Lenders, that the Consolidated Entity, by its
execution of this Agreement, will be deemed to be a party to the Credit Agreement and a “Guarantor”
for all purposes of the Credit Agreement, and shall have all of the obligations of a Guarantor
thereunder as if it had executed the Credit Agreement. The Consolidated Entity hereby ratifies, as
of the date hereof, and agrees to be bound by, all of the terms, provisions and conditions
applicable to the Guarantors contained in the Credit Agreement. Without limiting the generality of
the foregoing terms of this paragraph 1, the Consolidated Entity hereby jointly and severally
together with the other Guarantors, guarantees to each Lender and the Administrative Agent, as
provided in Article XI of the Credit Agreement, the prompt payment and performance of the
Obligations in full when due (whether at stated maturity, as a mandatory prepayment, by
acceleration or otherwise) strictly in accordance with the terms thereof.

     2. The address of the Consolidated Entity for purposes of all notices and other communications
is ______________, __________________, Attention of ____________ (Facsimile No.
____________).

     3. The Consolidated Entity hereby waives acceptance by the Administrative Agent and the
Lenders of the guaranty by the Consolidated Entity under Section 4 of the Credit Agreement upon the
execution of this Agreement by the Consolidated Entity.

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

     5. This Agreement shall be governed by and construed and interpreted in accordance with the
laws of the State of Georgia.

G-1

Form of Joinder Agreement

 

 

     IN WITNESS WHEREOF, the Consolidated Entity has caused this Joinder Agreement to be duly
executed by its authorized officers, and the Administrative Agent, for the benefit of the Lenders,
has caused the same to be accepted by its authorized officer, as of the day and year first above
written.

	 	 	 	 	 
	 	[CONSOLIDATED ENTITY]

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	Acknowledged and accepted:

BANK OF AMERICA, N.A.,

as Administrative Agent

 	 
	 	By:  	
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

G-2

Form of Joinder Agreement

 

 

EXHIBIT H

FORM OF CO-BORROWER JOINDER AGREEMENT

          THIS CO-BORROWER JOINDER AGREEMENT (the “Agreement”), dated as of _________, 20___, is by
and among COUSINS PROPERTIES INCORPORATED, a Georgia corporation, in its capacity as the Borrower
the under the Credit Agreement referenced below (the “Borrower”), ____________, a
____________ (the “Proposed Co-Borrower”), and BANK OF AMERICA, N.A., in its capacity as
Administrative Agent under that certain Amended and Restated Credit Agreement (as it may be
amended, modified, restated or supplemented from time to time, the “Credit Agreement”), dated as of
August [ ], 2007, by and among the Borrower, the Co-Borrowers from time to time party thereto,
the Guarantors, the Lenders and Bank of America, N.A., as Administrative Agent. All of the defined
terms in the Credit Agreement are incorporated herein by reference.

          The Borrower and the Co-Borrower desire, pursuant to the provisions of Section 6.12(b)
of the Credit Agreement to cause the Proposed Co-Borrower to become a “Co-Borrower”.

          1. Accordingly, the Proposed Co-Borrower hereby acknowledges, agrees and confirms with the
Administrative Agent, for the benefit of the Lenders, that the Proposed Co-Borrower, by its
execution of this Agreement, will continue to be a party to the Credit Agreement and shall, until
such time as it is released as such pursuant to Section 6.12(c) of the Credit Agreement as
a Co-Borrower, be a “Co-Borrower” for all purposes of the Credit Agreement, and shall have all of
the obligations of a Co-Borrower thereunder as if it had executed the Credit Agreement in such
capacity. The Proposed Co-Borrower hereby ratifies, as of the date hereof, and agrees to be bound
by, all of the terms, provisions and conditions applicable to the Co-Borrowers contained in the
Credit Agreement. Without limiting the generality of the foregoing terms of this paragraph 1, the
Proposed Co-Borrower hereby acknowledges that it is, jointly and severally with the other Borrower
Parties, liable to each Lender and the Agent, as provided in Section 2.15 of the Credit
Agreement, for the prompt payment and performance of the Obligations in full when due (whether at
stated maturity, as a mandatory prepayment, by acceleration or otherwise) strictly in accordance
with the terms thereof. The Proposed Co-Borrower further acknowledges and agrees that upon its
release as a Co-Borrower hereunder pursuant to the terms and conditions set forth in Section
6.12(c), it shall immediately resume its status as a “Guarantor” under the Credit Agreement and
be subject to and bound by the terms and conditions of the Credit Agreement relating to Guarantors.
At no time prior to the granting of a full and final release from its capacity as a “Co-Borrower”
shall the Proposed Co-Borrower cease to be liable, as a Borrower Party for all outstanding
Obligations under the Credit Agreement. Until released separately as a Guarantor, such Proposed
Co-Borrower shall remain liable for all of the outstanding Obligations as a Guarantor.

          2. The address of the Proposed Co-Borrower for purposes of all notices and other
communications is ____________, ____________, Attention of _________
(Facsimile No. _________).

H-1

Form of Co-Borrower Joinder Agreement

 

 

          3. Attached hereto are Notes for each of the Lenders executed by the Proposed
Co-Borrower.

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

          5. This Agreement shall be governed by and construed and interpreted in accordance with the
laws of the State of Georgia.

          IN WITNESS WHEREOF, each of the Borrower and the Proposed Co-Borrower has caused this
Co-Borrower Joinder Agreement to be duly executed by its authorized officers, and the
Administrative Agent, for the benefit of the Lenders, has caused the same to be accepted by its
authorized officer, as of the day and year first above written.

	 	 	 	 	 
	 	[PROPOSED CO-BORROWER]

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	COUSINS PROPERTIES INCORPORATED

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 	 	Acknowledged and accepted: 	 
	 
	 	BANK OF AMERICA, N.A.,

as Administrative Agent

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

H-2

Form of Co-Borrower Joinder Agreement

 

 

[REQUIRED NOTES TO BE ATTACHED]

H-3

Form of Co-Borrower Joinder Agreement

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