Document:

August  25,  2004

Via  Telecopier
---------------
SpaceDev,  Inc.
13855  Stowe  Drive
Poway,  CA  92064
Attention:  Richard  B.  Slansky
                    Re:     Letter  Agreement
Dear  Mr.  Slansky:

     Reference  is  hereby made to that certain Security Agreement dated June 3,
2003  by and between SpaceDev, Inc. (the "Company") and Laurus Master Fund, Ltd.
("Laurus")  (the  "Security Agreement").  Capitalized terms used but not defined
herein  shall have the meanings ascribed them in the Security Agreement.  Laurus
is hereby agrees to convert $1,500,000 aggregate principal amount outstanding on
the  Note  on  the  date  hereof  into  the  Company's  Common  Stock at a Fixed
Conversion  Price  of $0.85 per share for the first $500,000 and $1.00 per share
for  the remaining $1 million on or before December 31, 2004 (the "Conversion").
The  Company shall use its best efforts to file on or before September 30, 2004,
a  post effective amendment to its registration statement No. 333-116766 on Form
SB-2  declared  effective  by  the SEC on July 1, 2004, to register a sufficient
number  of  shares  of  the  Company's  Common  Stock underlying the Conversion.

As  of the date hereof, no Event of Default has occurred and is continuing under
the  Security  Agreement  or  the Note and all other terms and provisions of the
Security Agreement and the Ancillary Agreements remain in full force and effect.

                              LAURUS  MASTER  FUND,  LTD.

                              By:  /s/  Eugene  Grin
                              ----------------------
                                        Eugene  Grin

Agreed  and  accepted  on  the  date  hereof

SPACEDEV,  INC.

  By:   /s/  Richard  B.  Slansky
---------------------------------
      Name:  Richard  B.  Slansky
Title:  Chief  Financial  OfficerExhibit 4.1

 

EXECUTION COPY

 

CREDIT AGREEMENT

 

among

 

CDRV ACQUISITION CORPORATION
 (The Rights and Obligations of which
Hereunder are to be Assumed by 

VWR INTERNATIONAL, INC.)

 

THE FOREIGN SUBSIDIARY BORROWERS

FROM TIME TO TIME PARTIES HERETO

 

THE SEVERAL LENDERS

 

FROM TIME TO TIME PARTIES HERETO,

 

DEUTSCHE BANK AG, NEW YORK BRANCH,

as Administrative Agent

 

CITICORP NORTH AMERICA, INC.,

as Syndication Agent

 

and

 

BANK OF AMERICA, N.A., 
BNP PARIBAS
and
BARCLAYS
BANK PLC,

as Documentation Agents

 

Dated as of April 7, 2004

 

 

DEUTSCHE BANK SECURITIES INC.,

CITIGROUP GLOBAL MARKETS INC.

and

BANC OF AMERICA SECURITIES LLC,
 as Joint Lead Arrangers and Joint
Bookrunners

 

 

DEUTSCHE BANK AG, NEW YORK BRANCH,

CITICORP NORTH AMERICA, INC.,

BANK OF AMERICA, N.A.,

BNP PARIBAS,

BARCLAYS BANK PLC,

PNC BANK, NATIONAL ASSOCIATION,

NATEXIS BANQUES POPULAIRES, NEW YORK BRANCH,

NATIONAL CITY BANK,

and

GENERAL ELECTRIC CAPITAL CORPORATION,

as European Co-Arrangers

 

 

Table of Contents

 

	
  SECTION 1.  DEFINITIONS

  	
   

  
	
   

  	
   

  
	
   

  	
  1.1. 
  Defined Terms

  	
   

  
	
   

  	
  1.2.  Other Definitional
  Provisions

  	
   

  
	
   

  	
   

  
	
  SECTION 2.  AMOUNT AND TERMS OF COMMITMENTS

  	
   

  
	
   

  	
   

  
	
   

  	
  2.1.  Revolving Credit Commitments

  	
   

  
	
   

  	
  2.2.  Procedure for Revolving
  Credit Borrowing

  	
   

  
	
   

  	
  2.3.  Termination or Reduction
  of Revolving Credit Commitments

  	
   

  
	
   

  	
  2.4.  Swing Line Commitments

  	
   

  
	
   

  	
  2.5. 
  Term Loans

  	
   

  
	
   

  	
  2.6. 
  Tranche B Term Notes

  	
   

  
	
   

  	
  2.7.  Procedure for Term Loan
  Borrowing

  	
   

  
	
   

  	
  2.8. 
  Repayment of Loans

  	
   

  
	
   

  	
   

  
	
  SECTION 3.  LETTERS OF CREDIT

  	
   

  
	
   

  	
   

  
	
   

  	
  3.1. 
  L/C Commitment

  	
   

  
	
   

  	
  3.2.  Procedure for Issuance
  of Letters of Credit

  	
   

  
	
   

  	
  3.3.  Fees, Commissions and
  Other Charges

  	
   

  
	
   

  	
  3.4.  L/C Participations

  	
   

  
	
   

  	
  3.5.  Reimbursement Obligation
  of the Parent Borrower

  	
   

  
	
   

  	
  3.6.  Obligations Absolute

  	
   

  
	
   

  	
  3.7.  Letter of Credit
  Payments

  	
   

  
	
   

  	
  3.8. 
  Letter of Credit Request

  	
   

  
	
   

  	
  3.9.  Additional Issuing
  Lenders

  	
   

  
	
   

  	
   

  	
   

  
	
  SECTION 4.  GENERAL PROVISIONS APPLICABLE TO LOANS AND LETTERS OF CREDIT

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  4.1. 
  Interest Rates and Payment Dates

  	
   

  
	
   

  	
  4.2.  Conversion and
  Continuation Options

  	
   

  
	
   

  	
  4.3. 
  Minimum Amounts of Sets

  	
   

  
	
   

  	
  4.4.  Optional and Mandatory
  Prepayments

  	
   

  
	
   

  	
  4.5. 
  Commitment Fees; Administrative Agent’s Fee; Other Fees

  	
   

  
	
   

  	
  4.6.  Computation of Interest
  and Fees

  	
   

  
	
   

  	
  4.7.  Inability to Determine
  Interest Rate

  	
   

  
	
   

  	
  4.8.  Pro Rata Treatment and
  Payments

  	
   

  
	
   

  	
  4.9. 
  Illegality

  	
   

  
	
   

  	
  4.10. 
  Requirements of Law

  	
   

  
	
   

  	
  4.11.  Taxes

  	
   

  
	
   

  	
  4.12. 
  Indemnity

  	
   

  

 

i

 

	
   

  	
  4.13.  Certain Rules Relating
  to the Payment of Additional Amounts

  	
   

  
	
   

  	
  4.14. 
  Controls on Prepayment if Aggregate Outstanding Revolving Credit
  Exceeds Aggregate Revolving Credit Commitments

  	
   

  
	
   

  	
   

  	
   

  
	
  SECTION 5.  REPRESENTATIONS AND WARRANTIES.

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  5.1.  Financial Condition

  	
   

  
	
   

  	
  5.2. 
  No Change; Solvent

  	
   

  
	
   

  	
  5.3. 
  Corporate Existence; Compliance with Law

  	
   

  
	
   

  	
  5.4. 
  Corporate Power; Authorization; Enforceable Obligations

  	
   

  
	
   

  	
  5.5. 
  No Legal Bar

  	
   

  
	
   

  	
  5.6.  No Material Litigation

  	
   

  
	
   

  	
  5.7. 
  No Default

  	
   

  
	
   

  	
  5.8.  Ownership of Property;
  Liens

  	
   

  
	
   

  	
  5.9.  Intellectual Property

  	
   

  
	
   

  	
  5.10.  No Burdensome
  Restrictions

  	
   

  
	
   

  	
  5.11.  Taxes

  	
   

  
	
   

  	
  5.12.  Federal Regulations

  	
   

  
	
   

  	
  5.13.  ERISA

  	
   

  
	
   

  	
  5.14. 
  Collateral

  	
   

  
	
   

  	
  5.15.  Investment Company Act;
  Other Regulations

  	
   

  
	
   

  	
  5.16. 
  Subsidiaries

  	
   

  
	
   

  	
  5.17. 
  Purpose of Loans

  	
   

  
	
   

  	
  5.18.  Environmental Matters

  	
   

  
	
   

  	
  5.19.  No Material
  Misstatements

  	
   

  
	
   

  	
  5.20. 
  Delivery of the Acquisition Agreement

  	
   

  
	
   

  	
  5.21. 
  Representations and Warranties Contained in the Acquisition Agreement

  	
   

  
	
   

  	
  5.22.  Senior Indebtedness

  	
   

  
	
   

  	
  5.23. 
  Labor Matters

  	
   

  
	
   

  	
  5.24.  Special Purpose
  Corporation

  	
   

  
	
   

  	
   

  	
   

  
	
  SECTION 6.  CONDITIONS PRECEDENT.

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  6.1. 
  Conditions to Initial Extension of Credit

  	
   

  
	
   

  	
  6.2. 
  Conditions to Each Other Extension of Credit

  	
   

  
	
   

  	
  6.3. 
  Additional Conditions Applicable to Foreign Subsidiary Borrowers

  	
   

  
	
   

  	
   

  	
   

  
	
  SECTION 7.  AFFIRMATIVE COVENANTS.

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  7.1.  Financial Statements

  	
   

  
	
   

  	
  7.2.  Certificates; Other
  Information

  	
   

  
	
   

  	
  7.3.  Payment of Obligations

  	
   

  
	
   

  	
  7.4. 
  Conduct of Business and Maintenance of Existence

  	
   

  
	
   

  	
  7.5.  Maintenance of Property;
  Insurance

  	
   

  
	
   

  	
  7.6. 
  Inspection of Property; Books and Records; Discussions

  	
   

  
	
   

  	
  7.7. 
  Notices

  	
   

  
	
   

  	
  7.8.  Environmental Laws

  	
   

  

 

ii

 

	
   

  	
  7.9. 
  After-Acquired Real Property and Fixtures

  	
   

  
	
   

  	
  7.10.  Interest Rate
  Protection

  	
   

  
	
   

  	
  7.11. 
  Surveys

  	
   

  
	
   

  	
  7.12. 
  Maintenance of New York Process Agent

  	
   

  
	
   

  	
  7.13.  Consummation of
  Transactions

  	
   

  
	
   

  	
   

  	
   

  
	
  SECTION 8.  NEGATIVE COVENANTS

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  8.1.  Financial Condition
  Covenants

  	
   

  
	
   

  	
  8.2.  Limitation on
  Indebtedness

  	
   

  
	
   

  	
  8.3.  Limitation on Liens

  	
   

  
	
   

  	
  8.4. 
  Limitation on Guarantee Obligations

  	
   

  
	
   

  	
  8.5. 
  Limitation on Fundamental Changes

  	
   

  
	
   

  	
  8.6.  Limitation on Sale of
  Assets

  	
   

  
	
   

  	
  8.7.  Limitation on Dividends

  	
   

  
	
   

  	
  8.8. 
  Limitation on Capital Expenditures

  	
   

  
	
   

  	
  8.9. 
  Limitation on Investments, Loans and Advances

  	
   

  
	
   

  	
  8.10.  Limitations on Certain
  Acquisitions

  	
   

  
	
   

  	
  8.11.  Limitation on
  Transactions with Affiliates

  	
   

  
	
   

  	
  8.12.  Limitation on Sale and
  Leaseback Transactions

  	
   

  
	
   

  	
  8.13.  Limitations on
  Dispositions of Collateral

  	
   

  
	
   

  	
  8.14. 
  Limitation on Optional Payments and Modifications of Debt Instruments
  and Other Documents

  	
   

  
	
   

  	
  8.15.  Limitation on Changes
  in Fiscal Year

  	
   

  
	
   

  	
  8.16.  Limitation on Negative
  Pledge Clauses

  	
   

  
	
   

  	
  8.17.  Limitation on Lines of
  Business

  	
   

  
	
   

  	
  8.18.  Limitations on Currency
  and Commodity Hedging Transactions

  	
   

  
	
   

  	
   

  	
   

  
	
  SECTION 9.  EVENTS OF DEFAULT

  	
   

  
	
   

  	
   

  	
   

  
	
  SECTION 10.  THE ADMINISTRATIVE AGENT AND THE OTHER REPRESENTATIVES.

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  10.1. 
  Appointment

  	
   

  
	
   

  	
  10.2. 
  Delegation of Duties

  	
   

  
	
   

  	
  10.3.  Exculpatory Provisions

  	
   

  
	
   

  	
  10.4. 
  Reliance by Administrative Agent

  	
   

  
	
   

  	
  10.5. 
  Notice of Default

  	
   

  
	
   

  	
  10.6. 
  Acknowledgements and Representations by Lenders

  	
   

  
	
   

  	
  10.7. 
  Indemnification

  	
   

  
	
   

  	
  10.8. 
  Administrative Agent and Other Representatives in Their Individual
  Capacity

  	
   

  
	
   

  	
  10.9. 
  Collateral Matters

  	
   

  
	
   

  	
  10.10. 
  Successor Administrative Agent

  	
   

  
	
   

  	
  10.11.  Other Representatives

  	
   

  
	
   

  	
  10.12. 
  Swing Line Lender

  	
   

  

 

iii

 

	
  SECTION 11.  MISCELLANEOUS.

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  11.1.  Amendments and Waivers

  	
   

  
	
   

  	
  11.2. 
  Notices

  	
   

  
	
   

  	
  11.3.  No Waiver; Cumulative
  Remedies

  	
   

  
	
   

  	
  11.4.  Survival of
  Representations and Warranties

  	
   

  
	
   

  	
  11.5.  Payment of Expenses and
  Taxes

  	
   

  
	
   

  	
  11.6. 
  Successors and Assigns; Participations and Assignments

  	
   

  
	
   

  	
  11.7. 
  Adjustments; Set-off; Calculations; Computations

  	
   

  
	
   

  	
  11.8. 
  Judgment

  	
   

  
	
   

  	
  11.9. 
  Counterparts

  	
   

  
	
   

  	
  11.10. 
  Severability

  	
   

  
	
   

  	
  11.11. 
  Integration

  	
   

  
	
   

  	
  11.12. 
  GOVERNING LAW

  	
   

  
	
   

  	
  11.13.  Submission To
  Jurisdiction; Waivers

  	
   

  
	
   

  	
  11.14. 
  Acknowledgements

  	
   

  
	
   

  	
  11.15.  WAIVER OF JURY TRIAL

  	
   

  
	
   

  	
  11.16. 
  Confidentiality

  	
   

  
	
   

  	
  11.17.  USA Patriot Act Notice

  	
   

  
	
   

  	
  11.18. 
  Special Provisions Regarding Pledges of Capital Stock in, and
  Promissory Notes Owed by, Persons Not Organized in the U.S.

  	
   

  

 

iv

 

	
  SCHEDULES

  	
   

  
	
   

  	
   

  
	
  A

  	
  Commitments and Addresses

  
	
  B

  	
  Indicative Terms of Permitted Receivables Transactions

  
	
  C

  	
  Existing Letters of Credit

  
	
  D

  	
  Designated Foreign Currencies

  
	
  E

  	
  Foreign Subsidiary Borrowers

  
	
  4.10(c)

  	
  Mandatory Cost Formula

  
	
  5.2

  	
  Material Adverse Effect Disclosure

  
	
  5.4

  	
  Consents Required

  
	
  5.6

  	
  Litigation

  
	
  5.8

  	
  Real Property

  
	
  5.9

  	
  Intellectual Property Claims

  
	
  5.16

  	
  Subsidiaries

  
	
  6.1(d)

  	
  Intercompany Transactions

  
	
  6.1(i)

  	
  Lien Searches

  
	
  6.1(j)

  	
  Local and Foreign Counsel

  
	
  6.1(l)

  	
  Filing Jurisdictions

  
	
  6.1(p)

  	
  Title Insurance Policies

  
	
  7.9(e)

  	
  Leased U.S. Inventory Locations

  
	
  8.2(h)

  	
  Permitted Indebtedness

  
	
  8.3(j)

  	
  Permitted Liens

  
	
  8.4(a)

  	
  Permitted Guarantee Obligations

  
	
  8.6(i)

  	
  Permitted Asset Sales

  
	
  8.9(c)

  	
  Permitted Investments

  
	
  8.11(v)

  	
  Permitted Transactions with Affiliates

  

 

v

 

	
  EXHIBITS

  	
   

  
	
   

  	
   

  
	
  A-1

  	
  Form
  of Revolving Credit Note

  
	
  A-2

  	
  Form
  of Swing Line Note

  
	
  A-3

  	
  Form
  of Tranche B Dollar Term Note

  
	
  A-4

  	
  Form
  of Tranche B Euro Term Note

  
	
  B

  	
  Form of Guarantee and Collateral Agreement

  
	
  C

  	
  Form of Mortgage

  
	
  D-1

  	
  Form of Opinion of Debevoise & Plimpton, Special New York Counsel
  to the Loan Parties

  
	
  D-2

  	
  Form of Opinion of Richards, Layton & Finger, P.A., Special
  Delaware Counsel to Certain of the Loan Parties

  
	
  D-3

  	
  Form of Opinion of Stephen J. Kunst, Counsel to Certain of the Loan
  Parties

  
	
  D-4

  	
  Form of Opinion of Counsel to the Foreign Subsidiary Borrowers

  
	
  E

  	
  Form of U.S. Tax Compliance Certificate

  
	
  F

  	
  Form of Assignment and Acceptance

  
	
  G

  	
  Form of Swing Line Loan Participation Certificate

  
	
  H

  	
  Form of Borrowing Certificate

  
	
  I

  	
  Form of Landlord Waiver

  
	
  J

  	
  Form of Closing Certificate

  
	
  K

  	
  Form of Letter of Credit Request

  
	
  L

  	
  Form of Assumption Agreement

  
	
  M

  	
  Form of Joinder Agreement

  

 

vi

 

CREDIT
AGREEMENT, dated as of April 7, 2004, among CDRV ACQUISITION CORPORATION,
a Delaware corporation (“Acquisition Corp.” and, together with any
assignee of, or successor by merger to, Acquisition Corp.’s rights and
obligations hereunder as provided herein, the “Parent Borrower”), the
Foreign Subsidiary Borrowers (as hereinafter defined) (the Foreign Subsidiary
Borrowers together with the Parent Borrower, being collectively referred to as
the “Borrowers” and each being individually referred to as a “Borrower”),
the several banks and other financial institutions from time to time parties to
this Agreement (as further defined in Section 1.1, the “Lenders”),
DEUTSCHE BANK AG, NEW YORK BRANCH (“DBAG”), as administrative agent
for the Lenders hereunder (in such capacity, the “Administrative Agent”),
CITICORP NORTH AMERICA, INC. (“CNAI”), as syndication agent (in such
capacity, the “Syndication Agent”), and BANK OF AMERICA, N.A. (“BOA”),
BNP PARIBAS (“BNPP”) and BARCLAYS BANK PLC (“Barclays”), as
documentation agent (in such capacity, individually, each a “Documentation
Agent” and, collectively, the “Documentation Agents”).

 

The
parties hereto hereby agree as follows:

 

W  I  T  N  E  S
S  E  T  H:

 

WHEREAS, CDRV Holdings, Inc., a Delaware corporation (“Holding”),
and its Wholly Owned Subsidiaries (such term and each other capitalized term
used in these recitals and not otherwise previously defined, as hereinafter
defined), CDRV International Holdings I, Inc., a Delaware corporation to be
renamed CDRV International Holdings, Inc. (“Small FSHCo”), CDRV
International Holdings II, Inc., a Delaware corporation to be renamed VWR
International Holdings, Inc. (“Large FSHCo”) and CDRV Delaware, Inc., a
Delaware corporation (“DelawareCo”) and Acquisition Corp., are each
newly formed companies organized by Clayton, Dubilier & Rice Fund VI Limited
Partnership, a Cayman Islands exempted limited partnership (“CD&R Fund
VI”) or one of its Affiliates;

 

WHEREAS, (i) Acquisition Corp. proposes to acquire in a stock purchase
transaction (the “VWR Acquisition”) all of the outstanding Capital Stock
of VWR International Corporation, a Delaware corporation (“VWR”), (ii)
Small FSHCo proposes to acquire in a stock purchase transaction (the “Small
FSHCo Immobilien Acquisition”) approximately 6% of the outstanding equity
ownership interest of VWR International Immobilien GmbH (“Immobilien”)
and (iii) Large FSHCo proposes to acquire in a stock purchase transaction (the
“Large FSHCo Immobilien Acquisition” and, together with the Small FSHCo
Immobilien Acquisition, the “Immobilien Acquisition”, and, together with
the VWR Acquisition, the “Acquisition”) approximately 4% of the
outstanding equity ownership interest of Immobilien (the stock purchase
acquisition consummated pursuant to the Immobilien Acquisition constituting the
acquisition of all of the outstanding equity ownership interest of Immobilien
not owned directly or indirectly by VWR), in each case, pursuant to the Stock
Purchase Agreement, dated as of February 15, 2004 (the “Acquisition
Agreement”), among Merck KGaA, a German partnership limited by shares, Merck
Holding GmbH, a German private limited liability company, VWR International
Holding Europe GmbH, a German private limited liability company, EMD Chemicals,
Inc., a New York corporation and Acquisition Corp.;

 

 

WHEREAS, Holding will receive a direct or indirect cash investment from
CD&R Fund VI and/or one or more other investors determined by CD&R, in
an aggregate amount of at least $550,000,000 and will contribute such cash (net
of (x) amounts contributed by Holding to Small FSHCo to consummate the
Small FSHCo Immobilien Acquisition in accordance with the Acquisition Agreement
and (y) the costs and expenses of Holding incurred on or prior to the Closing
Date in respect to the Transactions (as defined herein)) (which amount
represents not less than 30% of the total consolidated capitalization of
Holding) as a common equity contribution to the Parent Borrower (the “Equity
Financing”);

 

WHEREAS, Acquisition Corp. will issue $520,000,000 in combined
aggregate principal amount of its senior unsecured notes (in an aggregate
principal amount of $200,000,000) and senior subordinated unsecured notes (in
an aggregate principal amount of $320,000,000) (the “Note Offering”);

 

WHEREAS, following the Acquisition, VWR will merge with and into VWR
International, Inc., a Pennsylvania corporation and Wholly Owned Subsidiary of
VWR (“VWR Pennsylvania”) (the “First Merger”) with VWR
Pennsylvania being the surviving corporation of the First Merger;

 

WHEREAS, thereafter, Acquisition Corp. will merge with and into VWR
Pennsylvania (the “Second Merger”) with VWR Pennsylvania being the
surviving corporation of the Second Merger;

 

WHEREAS, thereafter, VWR Pennsylvania will merge with and into
DelawareCo (the “Reincorporation Merger” and, together with the First
Merger and the Second Merger, the “Mergers”, and, together with the
Acquisition, the Equity Financing, the Note Offering, the Intercompany
Transactions and the Name Change described below, the “Transactions”)
with DelawareCo being the surviving corporation of the Reincorporation Merger;

 

WHEREAS, DelawareCo will change its name (the “Name Change”) to
VWR International, Inc. (“VWR International, Inc.”);

 

WHEREAS, immediately upon consummation of the Acquisition and the
Mergers described above, and on the Closing Date, Acquisition Corp. will assign
to VWR International, Inc. and VWR International, Inc. will assume from
Acquisition Corp. (the “Assumption”) all of the rights and obligations
of Acquisition Corp., as successor in interest to Acquisition Corp. under this
Agreement, pursuant to the Assumption Agreement (as defined below), and VWR
International, Inc. shall assume the obligations of Acquisition Corp. by
operation of law upon consummation of the Mergers, whereupon VWR International,
Inc. shall be the Parent Borrower hereunder for all purposes hereof; and

 

WHEREAS, in order to (i) finance a portion of the purchase price of the
Acquisition, (ii) pay certain fees and expenses related to the Acquisition and
the related transactions, and (iii) finance the working capital and other
business requirements of the Parent Borrower and its Subsidiaries following the
consummation of the Acquisition and the related transactions, Acquisition Corp.
has requested that the Lenders make the Loans and issue and participate in the
Letters of Credit provided for herein;

 

2

 

NOW,
THEREFORE, in consideration of the premises and the mutual agreements contained
herein, the parties hereto agree as follows:

 

SECTION 1.           DEFINITIONS.

 

1.1.          Defined Terms.  As used in this Agreement, the following
terms shall have the following meanings:

 

“ABR”:  for any day, a
rate per annum (rounded upwards, if necessary, to the next 1/16 of 1%) equal to
the greatest of (a) the Prime Rate in effect on such day and (b) the Federal
Funds Effective Rate in effect on such day plus 1/2 of 1%.  For purposes hereof:  “Prime Rate” shall mean the rate of
interest per annum publicly announced from time to time by DBAG (or another
bank of recognized standing reasonably selected by the Administrative Agent and
reasonably satisfactory to the Parent Borrower) as its prime rate in effect at
its principal office in New York City (the Prime Rate not being intended
to be the lowest rate of interest charged by DBAG in connection with extensions
of credit to debtors). “Federal Funds Effective Rate” shall mean, for
any day, the weighted average of the rates on overnight federal funds
transactions with members of the Federal Reserve System arranged by federal
funds brokers, as published on the next succeeding Business Day by the Federal
Reserve of New York, or, if such rate is not so published for any day
which is a Business Day, the average of the quotations for the day of such
transactions received by the Administrative Agent from three federal funds
brokers of recognized standing selected by it. 
Any change in the ABR due to a change in the Prime Rate or the Federal
Funds Effective Rate shall be effective as of the opening of business on the
effective day of such change in the Prime Rate or the Federal Funds Effective
Rate, respectively.

 

“ABR Loans”:  Loans the
rate of interest applicable to which is based upon the ABR.

 

“Acceleration”:  as
defined in subsection 9(e).

 

“Accounts”:  as defined
in the Uniform Commercial Code as in effect in the State of New York from
time to time; and, with respect to the Parent Borrower and its Domestic
Subsidiaries, all such Accounts of such Persons, whether now existing or
existing in the future, including, without limitation, (a) all accounts
receivable of such Person (whether or not specifically listed on schedules
furnished to the Administrative Agent), including, without limitation, all
accounts created by or arising from all of such Person’s sales of goods or
rendition of services made under any of its trade names, or through any of its
divisions, (b) all unpaid rights of such Person (including rescission,
replevin, reclamation and stopping in transit) relating to the foregoing or
arising therefrom, (c) all rights to any goods represented by any of the foregoing,
including, without limitation, returned or repossessed goods, (d) all reserves
and credit balances held by such Person with respect to any such accounts
receivable of any Obligors, (e) all letters of credit, guarantees or collateral
for any of the foregoing and (f) all insurance policies or rights relating to
any of the foregoing.

 

“Acquisition”: as defined in the Recitals hereto.

 

“Acquisition Agreement”: 
as defined in the Recitals hereto.

 

3

 

“Acquisition Corp.”: as defined in the Preamble hereto.

 

“Acquisition Documents”: the Acquisition Agreement and the
letter agreement from CDRV Acquisition Corporation to Merck KGaA, dated as of
the April 7, 2004, among the parties to the Acquisition Agreement, in each
case as the same may be amended, modified and/or supplemented from time to time
in accordance with the terms hereof and thereof.

 

“Adjustment Date”:  each
date, on or after the last day of the Parent Borrower’s first fiscal quarter
ended at least 6 months after the Closing Date, that is the second Business Day
following receipt by the Lenders of both (a) the financial statements required
to be delivered pursuant to subsection 7.1(a) or 7.1(b), as applicable,
for the most recently completed fiscal period and (b) the related compliance
certificate required to be delivered pursuant to subsection 7.2(b) with
respect to such fiscal period.

 

“Administrative Agent”: 
as defined in the Preamble hereto and shall include any successor to the
Administrative Agent appointed pursuant to Section 10.10.

 

“Affected Eurocurrency Loans”: 
as defined in subsection 4.9.

 

“Affected Eurocurrency Rate”: 
as defined in subsection 4.7.

 

“Affiliate”:  as to any
Person, any other Person (other than a Subsidiary) which, directly or
indirectly, is in control of, is controlled by, or is under common control
with, such Person.  For purposes of this
definition, “control” of a Person means the power, directly or indirectly,
either to (a) vote 20% or more of the securities having ordinary voting power
for the election of directors of such Person or (b) direct or cause the
direction of the management and policies of such Person, whether by contract or
otherwise.

 

“Agents”:  the collective
reference to the Administrative Agent, the Syndication Agent and the
Documentation Agents.

 

“Aggregate Outstanding Revolving Credit”:  as to any Revolving Credit Lender at any
time, an amount equal to the sum of (a) the aggregate principal amount of all
Revolving Credit Loans made by such Revolving Credit Lender then outstanding
(including, without limitation, in the case of Revolving Credit Loans then
outstanding in any Designated Foreign Currency, the Dollar Equivalent of the
aggregate principal amount thereof), (b) such Revolving Credit Lender’s Revolving
Credit Commitment Percentage of the L/C Obligations then outstanding and (c)
such Revolving Credit Lender’s Revolving Credit Commitment Percentage of the
Swing Line Loans then outstanding (including, without limitation, in the case
of any Swing Line Loans, the Dollar Equivalent of the aggregate principal
amount thereof).

 

“Agreement”:  this Credit
Agreement, as amended, supplemented, waived or otherwise modified, from time to
time.

 

“Applicable Margin”:  (a)
as applied to any given Type of Tranche B Euro Term Loans, 2.75% per annum; (b)
as applied to any given Type of Tranche B Dollar Term Loans, the rate per annum
is determined as follows: during the period from the Closing Date until the
first Adjustment Date, the Applicable Margin in respect of Tranche B Dollar
Term Loans shall equal

 

4

 

(A) with respect to ABR Loans, 1.50% per annum and (B) with respect to
Eurocurrency Loans, 2.50% per annum; and (c) as applied to any given type of
Revolving Credit Loans and Swing Line Loans, the rate per annum is determined
as follows: during the period from the Closing Date until the first Adjustment
Date, the Applicable Margin in respect of Revolving Credit Loans and Swing Line
Loans shall equal (A) with respect to ABR Loans, 1.50% per annum and (B) with
respect to Eurocurrency Loans, 2.50% per annum.  The Applicable Margins in respect of Tranche B Dollar Term Loans,
Revolving Credit Loans and Swing Line Loans will be adjusted on each subsequent
Adjustment Date to the applicable rate per annum set forth under the heading
“Applicable Margin for ABR Loans” or “Applicable Margin for Eurocurrency Loans”
on the applicable Pricing Grid which corresponds to the Consolidated Leverage
Ratio determined from the financial statements and compliance certificate
relating to the end of the fiscal quarter immediately preceding such Adjustment
Date; provided that in the event that the financial statements required
to be delivered pursuant to subsection 7.1(a) or 7.1(b), as applicable,
and the related compliance certificate required to be delivered pursuant to
subsection 7.2(b), are not delivered when due, then:

 

(1)           if such financial statements and certificate
are delivered after the date such financial statements and certificate were required
to be delivered (without giving effect to any applicable cure period) and the
Applicable Margin increases from that previously in effect as a result of the
delivery of such financial statements, then the Applicable Margin in respect of
Revolving Credit Loans and Swing Line Loans during the period from the date
upon which such financial statements were required to be delivered (without
giving effect to any applicable cure period) until the date upon which they
actually are delivered shall, except as otherwise provided in clause (3) below,
be the Applicable Margin as so increased;

 

(2)           if such financial statements and certificate
are delivered after the date such financial statements and certificate were
required to be delivered and the Applicable Margin decreases from that
previously in effect as a result of the delivery of such financial statements,
then such decrease in the Applicable Margin shall not become applicable until
the date upon which the financial statements and certificate actually are delivered;
and

 

(3)           if such financial statements and certificate
are not delivered prior to the expiration of the applicable cure period, then,
effective upon such expiration, for the period from the date upon which such
financial statements and certificate were required to be delivered (after the
expiration of the applicable cure period) until two Business Days following the
date upon which they actually are delivered, the Applicable Margin in respect
of Tranche B Dollar Term Loans, Revolving Credit Loans and Swing Line Loans
shall be 1.50% per annum, in the case of ABR Loans, and 2.50% per annum, in the
case of Eurocurrency Loans (it being understood that the foregoing shall not
limit the rights of the Administrative Agent and the Lenders set forth in Section 9).

 

In addition, at all times while an Event of Default shall have occurred
and be continuing, the Applicable Margin shall not decrease from that
previously in effect as a result of the delivery of such financial statements
and certificate.

 

5

 

“Approved Fund”:  as
defined in subsection 11.6(b).

 

“Asset Sale”:  any sale,
issuance, conveyance, transfer, lease or other disposition (including, without
limitation, through a Sale and Leaseback Transaction) (a “Disposition”)
by the Parent Borrower or any of its Subsidiaries, in one or a series of
related transactions, of any real or personal, tangible or intangible, property
(including, without limitation, Capital Stock) of the Parent Borrower or such
Subsidiary to any Person (other than to the Parent Borrower or any of its
Wholly Owned Subsidiaries).

 

“Assignee”:  as defined
in subsection 11.6(b).

 

“Assignment and Acceptance”: 
an Assignment and Acceptance, substantially in the form of Exhibit F.

 

“Assumption”:  as defined
in the Recitals hereto.

 

“Assumption Agreement”: 
an Assumption Agreement, substantially in the form of Exhibit L.

 

“Available Revolving Credit Commitment”:  as to any Revolving Credit Lender at any
time, an amount equal to the excess, if any, of (a) the amount of such
Revolving Credit Lender’s Revolving Credit Commitment at such time over
(b) the sum of (i) the aggregate unpaid principal amount at such time of all
Revolving Credit Loans made by such Revolving Credit Lender (including, without
limitation, in the case of Revolving Credit Loans made by such Revolving Credit
Lender in any Designated Foreign Currency, the Dollar Equivalent of the
aggregate unpaid principal amount thereof), (ii) an amount equal to such
Revolving Credit Lender’s Revolving Credit Commitment Percentage of the
aggregate unpaid principal amount at such time of all Swing Line Loans
(including, without limitation, in the case of any Swing Line Foreign Currency
Loans, the Dollar Equivalent of the aggregate unpaid principal amount thereof),
provided that for purposes of calculating Available Revolving Credit
Commitments pursuant to subsection 4.5(a) such amount shall be zero, and
(iii) an amount equal to such Revolving Credit Lender’s Revolving Credit
Commitment Percentage of the outstanding L/C Obligations at such time;
collectively, as to all the Lenders, the “Available Revolving Credit
Commitments”.

 

“Average Life”:  at the
date of determination thereof, with respect to any Indebtedness, the quotient
obtained by dividing (a) the sum of the products of the number of years from
such date of determination to the dates of each successive scheduled principal
payment of such Indebtedness multiplied by the amount of such principal payment
by (b) the sum of all such principal payments.

 

“BAS”:  Banc of America
Securities LLC, in its individual capacity, and any successor corporation
thereto by merger, consolidation or otherwise.

 

“benefited Lender”:  as
defined in subsection 11.7(a).

 

“BOA”:  as defined in the
Preamble hereto, in its individual capacity, and any successor corporation
thereto by merger, consolidation or otherwise.

 

6

 

“Board”:  the Board of
Governors of the Federal Reserve System.

 

“Borrowers”:  as defined
in the Preamble hereto.

 

“Borrowing Date”:  any
Business Day specified in a notice pursuant to subsection 2.2, 2.4, 2.7 or
3.2 as a date on which the Parent Borrower requests the Lenders to make Loans
hereunder or the Issuing Lender to issue Letters of Credit hereunder.

 

“Business Day”:  a day
other than a Saturday, Sunday or other day on which commercial banks in
New York, New York (or, with respect only to Letters of Credit issued
by an Issuing Lender not located in the City of New York, the location of
such Issuing Lender) are authorized or required by law to close, except that,
when used in connection with a Eurocurrency Loan, “Business Day” shall mean, in
the case of any Eurocurrency Loan in Dollars, any Business Day on which
dealings in Dollars between banks may be carried on in London, England and
New York, New York and, in the case of any Eurocurrency Loan in any
Designated Foreign Currency, a day on which dealings in such Designated Foreign
Currency between banks may be carried on in London, England, New York,
New York and the principal financial center of such Designated Foreign
Currency as set forth on Schedule D; provided, however,
that, with respect to notices and determinations in connection with, and
payments of principal and interest on, Loans denominated in Euros, such day is
also a day on which the Trans-European Automated Real-Time Gross Settlement
Express Transfer System (TARGET) (or, if such clearing system ceases to be
operative, such other clearing system (if any) determined by the Administrative
Agent to be a suitable replacement) is open for settlement of payment in Euros.

 

“Capital Expenditures”: 
with respect to any Person for any period, the sum of the aggregate of
all expenditures by such Person and its consolidated Subsidiaries during such
period (exclusive of expenditures made for Investments permitted by
subsection 8.9 and for acquisitions permitted by subsection 8.10)
which, in accordance with GAAP, are or should be included in “capital
expenditures.”

 

“Capital Stock”:  any and
all shares, interests, participations or other equivalents (however designated)
of capital stock of a corporation, any and all equivalent ownership interests
in a Person (other than a corporation) and any and all warrants or options to
purchase any of the foregoing.

 

“Cash Equivalents”:  (a)
securities issued or fully guaranteed or insured by the United States
Government or any agency or instrumentality thereof, (b) time deposits,
certificates of deposit or bankers’ acceptances of (i) any Lender or affiliate
thereof or (ii) any commercial bank having capital and surplus in excess of
$500,000,000 and the commercial paper of the holding company of which is rated
at least A-2 or the equivalent thereof by Standard & Poor’s Ratings
Group (a division of The McGraw Hill Companies Inc.) or any successor rating
agency (“S&P”) or at least P-2 or the equivalent thereof by Moody’s
Investors Service, Inc. or any successor rating agency (“Moody’s”) (or
if at such time neither is issuing ratings, then a comparable rating of such
other nationally recognized rating agency as shall be approved by the
Administrative Agent in its reasonable judgment), (c) commercial paper rated at
least A-2 or the equivalent thereof by S&P or at least P-2 or the
equivalent thereof by Moody’s (or if at such time neither is issuing ratings,
then a comparable rating of such other nationally recognized rating

 

7

 

agency as shall be approved by the Administrative Agent in its
reasonable judgment), (d) investments in money market funds complying with the
risk limiting conditions of Rule 2a-7 or any successor rule of the Securities
and Exchange Commission under the Investment Company Act, and (e) investments
similar to any of the foregoing denominated in foreign currencies approved by
the board of directors of the Parent Borrower, in each case provided in clauses
(a), (b), (c) and (e) above only, maturing within twelve months after the date
of acquisition.

 

“CD&R”:  Clayton,
Dubilier & Rice, Inc., a Delaware corporation, and its successors and
assigns.

 

“CD&R Fund VI”:  as
defined in the Recitals hereto.

 

“CGMI”:  Citigroup Global
Markets Inc, in its individual capacity, and any successor corporation thereto
by merger, consolidation or otherwise.

 

“Change in Consolidated Working Capital”:  for any period, a positive or negative
number equal to the amount of Consolidated Working Capital at the beginning of
such period minus the amount of Consolidated Working Capital at the end of such
period.

 

“Change of Control”:  the
occurrence of any of the following events: 
(a) at any time prior to the initial registered public offering of
Investors’ or Holding’s Voting Stock the Permitted Holders shall in the
aggregate be the “beneficial owner” (as defined in Rules 13d-3 and 13d-5 under
the Exchange Act) of (x) so long as Holding is a Subsidiary of Investors,
shares of Voting Stock having less than 51% of the total voting power of all
outstanding shares of Investors and (y) if Holding is not a Subsidiary of
Investors, shares of Voting Stock having less than 51% of the total voting
power of all outstanding shares of Holding, (b) on and after the date of the
initial registered public offering of Investors’ or Holding’s Voting Stock (i)
(x) the Permitted Holders shall in the aggregate be the “beneficial owner” (as
defined in Rules 13d-3 and 13d-5 under the Exchange Act) of (A) so long as
Holding is a Subsidiary of Investors, shares of Voting Stock having less than
35% of the total voting power of all outstanding shares of Investors and (B) if
Holding is not a Subsidiary of Investors, shares of Voting Stock having less
than 35% of the total voting power of all outstanding shares of Holding and (y)
any “person” or “group” (as such terms are used in Sections 13(d) and 14(d) of
the Exchange Act), other than one or more Permitted Holders, shall be the
“beneficial owner” of (A) so long as Holding is a Subsidiary of Investors,
shares of Voting Stock having more than 35% of the total voting power of all
outstanding shares of Investors and (B) if Holding is not a Subsidiary of
Investors, shares of Voting Stock having more than 35% of the total voting
power of all outstanding shares of Holding or (ii) (A) so long as Holding is a
Subsidiary of Investors, the Continuing Directors shall cease to constitute a
majority of the members of the board of directors of Investors and (B) if
Holding is not a Subsidiary of Investors, the Continuing Directors shall cease
to constitute a majority of the members of the board of directors of Holding;
(c) Holding shall cease to own, directly or indirectly, 100% of the Capital
Stock of the Parent Borrower (or any successor to the Parent Borrower permitted
pursuant to subsection 8.5); or (d) a “Change of Control” as defined in
either the 2004 Senior Note Indenture or the 2004 Senior Subordinated Note
Indenture under which any 2004 Senior Notes or 2004 Senior Subordinated Notes
are then outstanding; as used in this paragraph “Voting Stock” shall
mean shares of Capital Stock entitled to vote generally in the election of
directors.

 

8

 

“Closing Date”:  the date
on which all the conditions precedent set forth in subsection 6.1 shall be
satisfied or waived.

 

“CNAI”:  as defined in
the Preamble hereto, in its individual capacity, and any successor corporation
thereto by merger, consolidation or otherwise.

 

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

 

“Collateral”:  all assets
of the Loan Parties, now owned or hereafter acquired, upon which a Lien is
purported to be created by any Security Document.

 

“Commercial Letter of Credit”: 
as defined in subsection 3.1(a).

 

“Commitment”:  as to any
Lender, the sum of the Tranche B Term Loan Commitments and the Revolving Credit
Commitment of such Lender.

 

“Commitment Fee Rate”: 
0.50% per annum.

 

“Commonly Controlled Entity”: 
an entity, whether or not incorporated, which is under common control
with the Parent Borrower within the meaning of Section 4001 of ERISA or is
part of a group which includes the Parent Borrower and which is treated as a
single employer under Section 414(b) or (c) of the Code or, solely for
purposes of Section 302 of ERISA and Section 412 of the Code, is
treated as a single employer under Sections 414(m) and (o) of the Code.

 

“Conduit Lender”:  any
special purpose corporation organized and administered by any Lender for the
purpose of making Loans otherwise required to be made by such Lender and
designated by such Lender in a written instrument delivered to the
Administrative Agent (a copy of which shall be provided by the Administrative
Agent to the Parent Borrower on request); provided that the designation
by any Lender of a Conduit Lender shall not relieve the designating Lender of
any of its obligations under this Agreement, including, without limitation, its
obligation to fund a Loan if, for any reason, its Conduit Lender fails to fund
any such Loan, and the designating Lender (and not the Conduit Lender) shall
have the sole right and responsibility to deliver all consents and waivers
required or requested under this Agreement with respect to its Conduit Lender,
and provided, further, that no Conduit Lender shall (a) be
entitled to receive any greater amount pursuant to any provision of this
Agreement, including without limitation subsection 4.10, 4.11, 4.12 or
11.5, than the designating Lender would have been entitled to receive in
respect of the extensions of credit made by such Conduit Lender if such
designating Lender had not designated such Conduit Lender hereunder, (b) be
deemed to have any Term Loan Commitment or Revolving Credit Commitment or (c)
be designated if such designation would otherwise increase the costs of any
Facility to any Borrower.

 

“Confidential Information Memorandum”:  that certain Confidential Information Memorandum (Private Version)
dated March 2004 and furnished to the Lenders.

 

“Consolidated Current Portion Of Long Term Debt”:  at the date of determination thereof, the
current portion of Consolidated Long Term Debt that is included in Consolidated
Short Term Debt.

 

9

 

“Consolidated Funded Indebtedness”:  at the date of determination thereof, the sum of (a) Consolidated
Long Term Debt plus (b) Consolidated Current Portion Of Long Term Debt.

 

“Consolidated Indebtedness/Securitization”:  at the date of determination thereof, the
sum (without duplication) of (a) Consolidated Long Term Debt, plus (b)
Consolidated Short Term Debt, plus (c) an amount equal to the aggregate cash
proceeds received by the Parent Borrower or any of its Subsidiaries from an
unrelated third party (net of amounts repaid) from the financing of Accounts
pursuant to any Permitted Receivables Transaction.  In determining under clauses (a) and (b) of this definition the
Indebtedness of the Parent Borrower and its consolidated Subsidiaries under or
in respect of any Permitted Receivables Transaction or under clause (c) of this
definition the amount equal to the aggregate cash proceeds received by the
Parent Borrower or any such Subsidiary from the financing of any Receivable or
other asset, as the case may be, pursuant to any Permitted Receivables
Transaction, such Indebtedness or amount shall be reduced by any escrowed or
pledged cash proceeds which effectively secure such Indebtedness or the
obligations of the Parent Borrower or any such Subsidiary under such Permitted
Receivables Transaction.

 

“Consolidated Interest Expense”:  for any period, an amount equal to (a) interest expense
(accrued and paid or payable in cash for such period, and in any event
excluding any amortization or write off of financing costs) on Indebtedness of
the Parent Borrower and its consolidated Subsidiaries for such period minus (b)
interest income (accrued and received or receivable in cash for such period) of
the Parent Borrower and its consolidated Subsidiaries for such period, in each
case determined on a consolidated basis in accordance with GAAP; provided
that in the event of the consummation of any Permitted Receivables Transaction,
“Consolidated Interest Expense” shall be adjusted to include (without
duplication) an amount equal to the interest (or other fees in the nature of
interest or discount accrued and paid or payable in cash for such period) on
such Permitted Receivables Transaction; provided that for purposes of
calculating the Consolidated Interest Expense Ratio for any period of four
fiscal quarters ending prior to March 31, 2005, Consolidated Interest
Expense for such period of four fiscal quarters shall be deemed to be (i) in
the case of the period ended at the end of the fiscal quarter ended
June 30, 2004, Consolidated Interest Expense for such fiscal quarter
multiplied by 4, (ii) in the case of the period ended at the end of the fiscal
quarter ended September 30, 2004, Consolidated Interest Expense for the
period of two fiscal quarters ended at the end of such fiscal quarter
multiplied by 2 and (iii) in the case of the period ended at the end of the
fiscal quarter ended December 31, 2004, Consolidated Interest Expense for
the period of three fiscal quarters ended at the end of such fiscal quarter
multiplied by 4/3.

 

“Consolidated Interest Expense Ratio”:  for any period, the ratio of (a) EBITDA for such period to
(b) Consolidated Interest Expense for such period.

 

“Consolidated Leverage Ratio”: 
as of the last day of any period, the ratio of (a) Consolidated
Indebtedness/Securitization on such day to (b) EBITDA for the period of four
full fiscal quarters ending on such date.

 

“Consolidated Long Term Debt”: 
at the date of determination thereof, all long term debt of the Parent
Borrower and its consolidated Subsidiaries as determined on a

 

10

 

consolidated basis in accordance with GAAP and as disclosed on the
Parent Borrower’s consolidated balance sheet.

 

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

 

“Consolidated Short Term Debt”: 
at the date of determination thereof, all short term debt of the Parent
Borrower and its consolidated Subsidiaries as determined on a consolidated
basis in accordance with GAAP and as disclosed on the Parent Borrower’s
consolidated balance sheet.

 

“Consolidated Working Capital”: 
at the date of determination thereof, the aggregate amount of all
current assets (excluding cash, Cash Equivalents and deferred taxes recorded as
assets) minus the aggregate amount of all current liabilities (excluding the
Revolving Credit Loans and Swing Line Loans, Consolidated Current Portion of
Long Term Debt, working capital debt of Foreign Subsidiaries and deferred taxes
recorded as liabilities), in each case determined on a consolidated basis for
the Parent Borrower and its consolidated Subsidiaries.

 

“Continuing Directors”: 
the directors of Holding or Investors, as the case may be, on the
Closing Date, after giving effect to the Transactions and the other
transactions contemplated thereby, and each other director if, in each case,
such other director’s nomination for election to the board of directors of
Holding or Investors, as the case may be, is recommended by at least a majority
of the then Continuing Directors or such other director receives the
affirmative vote of one or more Permitted Holders in his or her election by the
shareholders of Holding or Investors.

 

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

 

“DBAG”:  as defined in
the Preamble hereto, in its individual capacity, and any successor corporation
thereto by merger, consolidation or otherwise.

 

“DBSI”:  Deutsche Bank
Securities Inc, in its individual capacity, and any successor corporation
thereto by merger, consolidation or otherwise.

 

“Default”:  any of the
events specified in Section 9, whether or not any requirement for the
giving of notice (other than, in the case of subsection 9(e), a Default
Notice), the lapse of time, or both, or any other condition specified in
Section 9, has been satisfied.

 

“Default Notice”:  as
defined in subsection 9(e).

 

“Defaulting Lender”: as defined in subsection 4.8(c).

 

“DelawareCo”:  as defined
in the Recitals hereto.

 

11

 

“Designated Foreign
Currencies”:  (x) in the case of
Tranche B Euro Term Loans, Euros, and (y) in the case of Revolving Credit
Loans, the currencies set forth on Schedule D and any other available and
freely convertible foreign currency selected by the Parent Borrower and
approved by the Administrative Agent and all of the Revolving Credit Lenders in
accordance with subsection 11.1(b).

 

“Disinterested Director”: 
as defined in subsection 8.11.

 

“Disposition”: as defined in the definition of the term “Asset
Sale” in this subsection 1.1.

 

“Documentation Agents”: 
as defined in the Preamble hereto.

 

“Dollar Equivalent”:  with respect to the principal amount of any
Eurocurrency Loan made or outstanding in any Designated Foreign Currency, the
principal amount of any Swing Line Foreign Currency Loan or any amount in
respect of any Letter of Credit denominated in any Designated Foreign Currency,
at any date of determination thereof, an amount in Dollars equivalent to such
principal amount or such other amount calculated on the basis of the Spot Rate
of Exchange.

 

“Dollars” and “$”: 
dollars in lawful currency of the United States of America.

 

“Domestic
Subsidiary”:  any Subsidiary of the
Parent Borrower which is not a Foreign Subsidiary.

 

“EBITDA”:  for any
period, Consolidated Net Income for such period adjusted (I) to exclude the
following items (without duplication) of income or expense to the extent that
such items are included in the calculation of Consolidated Net Income: (a) Consolidated
Interest Expense, (b) any non-cash expenses and charges, (c) total income tax
expense, (d) depreciation expense, (e) the expense associated with amortization
of intangible and other assets (including amortization or other expense
recognition of any costs associated with asset write-ups in accordance with APB
Nos. 16 and 17), (f) non-cash provisions for reserves for discontinued
operations, (g) any extraordinary, unusual or non-recurring gains or losses or
charges or credits, including but not limited to any expenses relating to the
Transactions and any non-recurring or extraordinary items paid or accrued
during such period relating to deferred compensation owed to any Management
Investor that was cancelled, waived or exchanged in connection with the grant
to such Management Investor of the right to receive or acquire shares of common
stock of Investors or Holding, (h) any gain or loss associated with the sale or
write-down of assets not in the ordinary course of business, and (i) any income
or loss accounted for by the equity method of accounting (except in the case of
income to the extent of the amount of cash dividends or cash distributions paid
to the Parent Borrower or any of its Subsidiaries by the entity accounted for
by the equity method of accounting) and (II) by reducing EBITDA (as otherwise
determined above) by the amount of all dividends paid by the Parent Borrower
during the relevant period pursuant to any of clauses (a) and (b) of
subsection 8.7 (in each case, unless and to the extent (x) the amount paid
with such dividends by Investors or Holding would not, if the respective
expense or other item had been incurred directly by the Parent Borrower, have
reduced EBITDA determined in accordance with the foregoing provisions of this
definition or (y) such dividend is paid by the

 

12

 

Parent Borrower in respect of an expense or other item that has
resulted in, or will result in, a reduction of EBITDA, as calculated pursuant
to clause (I) above).  For the purposes
of calculating EBITDA for any period of four consecutive fiscal quarters (each,
a “Reference Period”) pursuant to any determination of the Consolidated
Leverage Ratio, (i) if at any time during such Reference Period (and after the
Closing Date) the Parent Borrower or any of its Subsidiaries shall have made
any Material Disposition, the EBITDA for such Reference Period shall be reduced
by an amount equal to the EBITDA (if positive) attributable to the property
that is the subject of such Material Disposition for such Reference Period or
increased by an amount equal to the EBITDA (if negative) attributable thereto
for such Reference Period and (ii) if during such Reference Period (and after
the Closing Date) the Parent Borrower or any of its Subsidiaries shall have
made a Material Acquisition, EBITDA for such Reference Period shall be
calculated after giving pro forma effect thereto in accordance with Regulation
S-X as if such Material Acquisition occurred on the first day of such Reference
Period.  As used in this definition, “Material
Acquisition” means any acquisition of property or series of related
acquisitions of property that (x) constitutes assets comprising all or
substantially all of an operating unit of a business or constitutes all or
substantially all of the common stock of a Person and (y) involves the payment
of consideration by the Parent Borrower or any of its Subsidiaries in excess of
$5,000,000; and “Material Disposition” means any Disposition of property
or series of related Dispositions of property that (x) constitutes assets
comprising all or substantially all of an operating unit of a business or
constitutes all or substantially all of the common stock of a Person and (y)
yields gross proceeds to the Parent Borrower or any of its Subsidiaries in
excess of $5,000,000; provided that for any applicable periods prior to
the Closing Date EBITDA shall be determined in respect to VWR and its
predecessors.

 

“ECF Percentage”:  50%, provided
that with respect to any fiscal year of the Parent Borrower ending on or after
December 31, 2005, the ECF Percentage shall be reduced to 0% if the
Consolidated Leverage Ratio as of the last day of such fiscal year is less than
4.0 to 1.0, so long as no Default or Event of Default has occurred and is continuing
as of such date and the Parent Borrower shall be in compliance with the
financial covenants contained subsection 8.1 for the fiscal year then
ended.

 

“EMU”:  Economic and
Monetary Union as contemplated in the Treaty.

 

“Environmental Costs”: 
any and all costs or expenses (including, without limitation, attorney’s
and consultant’s fees, investigation and laboratory fees, response costs, court
costs and litigation expenses, fines, penalties, damages, settlement payments,
judgments and awards), of whatever kind or nature, known or unknown, contingent
or otherwise, arising out of, or in any way relating to, any violation of,
noncompliance with or liability under any Environmental Laws or any orders,
requirements, demands, or investigations of any person related to any
Environmental Laws.  Environmental Costs
include any and all of the foregoing, without regard to whether they arise out
of or are related to any past, pending or threatened proceeding of any kind.

 

“Environmental Laws”: 
any and all foreign, Federal, state, local or municipal laws, rules,
orders, regulations, statutes, ordinances, codes, decrees, and such
requirements of any Governmental Authority properly promulgated and having the
force and effect of law or other Requirements of Law (including common law)
regulating, relating to or imposing liability

 

13

 

or standards of conduct concerning protection of human health or the
environment, as have been, or now or at any relevant time hereafter are, in
effect.

 

“Environmental Permits”: 
any and all permits, licenses, registrations, notifications, exemptions
and any other authorization required under any Environmental Law.

 

“Equity Financing”:  as
defined in the Recitals hereto.

 

“Equity Financing Documents”: Acquisition Agreement, Stock
Subscription Agreement, dated as of April 7, 2004, between CDRV Investors,
Inc. and Clayton, Dubilier & Rice Fund VI Limited Partnership, Stock
Subscription Agreement, dated as of April 7, 2004, between CDRV Investors,
Inc., a Delaware corporation and SSB Capital Partners (Master Fund) I, L.P., a
Delaware limited partnership, Stock Subscription Agreement, dated as of dated
as of April 7, 2004, between CDRV Investors, Inc., a Delaware corporation
and CGI Private Equity L.P., LLC, a Delaware limited liability company, and the
Stock Subscription Agreement, dated as of April 7, 2004, between CDRV
Investors, Inc., a Delaware corporation, and Banc of America Capital Investors,
L.P. a Delaware limited partnership, in each case as the same may be
amended, modified and/or supplemented from time to time in accordance with the
terms thereof.

 

“Equity Investors”:  (a)
CD&R Fund VI, (b) any of SSB Capital Partners (Master Fund) I, L.P., CGI
Private Equity L.P., LLC, Banc of America Capital Investors, L.P., the partners
of or other investors in CD&R Fund VI, and the respective Affiliates of SSB
Capital Partners (Master Fund) I, L.P., CGI Private Equity L.P., LLC, Banc of
America Capital Investors L.P. or any such partner or investor, that is or
becomes a holder of Voting Stock of Investors prior to the first anniversary of
the Closing Date, (c) any other Person that is (x) a Person that directly or
indirectly acquires Voting Stock of Investors from CD&R Fund VI (including
but not limited to by way of issuance of Voting Stock by Investors in
connection with its repurchase, redemption or other retirement of Voting Stock
thereof owned by CD&R Fund VI) prior to the first anniversary of the
Closing Date, and any Affiliate of any such Person, in an aggregate amount not
exceeding (as to all such Persons)) ten percent (10%) of the Voting Stock of
Investors owned by CD&R Fund VI on the Closing Date or (y) an Affiliate of
any such Person (it being understood and agreed that, if any such
Persons and any such Affiliates of such Persons acquires Voting Stock
representing Voting Stock in excess of twenty percent (20%) of the Voting Stock
of Investors owned by CD&R Fund VI on the Closing Date, such Persons (and
such Affiliates) shall not be considered an Equity Investor or a Permitted
Holder with respect to such excess Voting Stock), and (d) any of their respective
successors in interest.

 

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

 

“Eurocurrency Base Rate”: 
with respect to each day during each Interest Period pertaining to a
Eurocurrency Loan, the rate per annum determined by the Administrative Agent to
be the arithmetic mean (rounded to the nearest 1/100th of 1%) of the offered
rates for deposits in Dollars or (in the case of Loans made in a Designated
Foreign Currency) in the applicable Designated Foreign Currency with a term
comparable to such Interest Period that appears on the Telerate British Bankers
Assoc. Interest Settlement Rates Page (as defined below) at approximately 11:00
A.M., London time, on the second full Business Day preceding the first day

 

14

 

of such Interest Period; provided, however, that if there
shall at any time no longer exist a Telerate British Bankers Assoc. Interest
Settlement Rates Page, “Eurocurrency Base Rate” shall mean, with respect to
each day during each Interest Period pertaining to a Eurocurrency Loan, the
rate per annum equal to the rate at which the DBAG is offered deposits in
Dollars or in the applicable Designated Foreign Currency at or about 10:00
A.M., New York City time, two Business Days prior to the beginning of such
Interest Period in the interbank eurocurrency market where the eurocurrency and
foreign currency and exchange operations in respect of Dollars or such
Designated Foreign Currency, as the case may be, are then being conducted for
delivery on the first day of such Interest Period for the number of days
comprised therein and in an amount comparable to the amount of its Eurocurrency
Loan to be outstanding during such Interest Period.  “Telerate British Bankers Assoc. Interest Settlement Rates
Page” shall mean the display designated as Page 3750 (or such other page on
which any Designated Foreign Currency then appears) on the Telerate System (or
such other page as may replace such page on such service for the purpose of
displaying the rates at which Dollar deposits or deposits in any Designated
Foreign Currency are offered by leading banks in the London interbank deposit
market).

 

“Eurocurrency Loans”:  Loans the rate of interest applicable to
which is based upon the Eurocurrency Rate.

 

“Eurocurrency Rate”:  with respect to each day during each
Interest Period pertaining to a Eurocurrency Loan, a rate per annum determined
for such day in accordance with the following formula (rounded upward to the
nearest 1/100th of 1%):

 

	
  Eurocurrency
  Base Rate

  
	
  1.00 -
  Eurocurrency Reserve Requirements

  

 

“Eurocurrency Reserve
Requirements”:  for any day as
applied to a Eurocurrency Loan, the aggregate (without duplication) of the
rates (expressed as a decimal fraction) of reserve requirements in effect on
such day (including, without limitation, basic, supplemental, marginal and
emergency reserves under any regulations of the Board or other Governmental
Authority having jurisdiction with respect thereto) dealing with reserve
requirements prescribed for eurocurrency funding (currently referred to as
“Eurocurrency Liabilities” in Regulation D of the Board) maintained by a member
bank of the Federal Reserve System.

 

“European
Co-Arrangers”: shall mean Deutsche Bank AG, New York Branch, Citicorp North
America, Inc., Bank of America, N.A., BNP Paribas, Barclays Bank PLC, PNC Bank,
National Association, Natexis Banques Populaires, New York Branch, National
City Bank, General Electric Capital Corporation, each in their respective
capacities as European Co-Arrangers.

 

“Euros”:  and the
designation “€” shall mean the currency introduced on January 1,
1999 at the start of the third stage of European economic and monetary union
pursuant to the Treaty (expressed in euros).

 

15

 

“Event of Default”:  any
of the events specified in Section 9, provided that any requirement
for the giving of notice, the lapse of time, or both, or any other condition,
has been satisfied.

 

“Excess Cash Flow”:  for
any period, EBITDA minus (a) any Capital Expenditures made in cash during such
period (excluding the principal amount of Indebtedness incurred in connection
with such expenditures and any such expenditures financed with the proceeds of
any Reinvested Amount), minus (b) any principal payments (other than principal
payments during such period pursuant to subsection 4.4(b), (c) or (e)
unless and to the extent that the event giving rise to such mandatory
prepayment causes an increase in EBITDA) of the Term Loans made during such
period, minus (c) any principal payments resulting in a permanent reduction of
any other Indebtedness of the Parent Borrower or any of its consolidated
Subsidiaries made during such period, minus (d) Consolidated Interest Expense
for such period, minus (e) any taxes paid or payable in cash during such
period, minus (f) the Net Cash Proceeds from any Asset Sale to the extent that
such Net Cash Proceeds (i) (without duplication of clause (a) or (g) of this
definition) consist of any Reinvested Amount or are otherwise applied in
accordance with subsection 4.4(b) and (ii) are included in the calculation
of EBITDA, minus (g) (without duplication of clause (a) of this definition) any
Investment made in accordance with subsection 8.9(e), (g), (k) or (l),
minus (h) (without duplication of clause (b) or (c) of this definition) the
proceeds of any Sale and Leaseback Transactions entered into by the Parent
Borrower or any of its Subsidiaries in accordance with subsection 8.12
during such period in the ordinary course of its business to the extent
included in EBITDA, minus (i) any earnings included in EBITDA for such period
(except to the extent that any such earnings are used for any purposes
described in clauses (a) through (h) above) of a Receivables Subsidiary to the
extent the terms of any Permitted Receivables Transaction prohibit the
distribution thereof to the Parent Borrower or any of its other Subsidiaries,
minus (j) to the extent not otherwise subtracted from EBITDA in this definition
of “Excess Cash Flow”, any cash dividends, and other loans and advances, made
during such period by the Parent Borrower or any of its Subsidiaries to
Holding, so long as such dividends, loans and advances are expressly permitted
by subsection 8.7, minus (k) to the extent not included in EBITDA, the
amount of any cash contributions required by law to be made by the Parent
Borrower or any of its Subsidiaries to any Plan, plus (l) the Change in
Consolidated Working Capital for such period.

 

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

 

“Excluded Properties”: 
the collective reference to the fee or leasehold interest in real
properties owned by the Parent Borrower or any of its Subsidiaries described in
Part III of Schedule 5.8.

 

“Existing Letters of Credit”: 
on any date, the letters of credit listed or described on
Schedule C that are outstanding on such date.

 

“Existing Note Indentures”: 
the collective reference to the following: (a) the 2004 Senior Note
Indenture and (b) 2004 Senior Subordinated Note Indenture.

 

16

 

“Existing Notes”:  the
collective reference to the following: (a) the 2004 Senior Notes and (b) 2004
Senior Subordinated Notes.

 

“Extension of Credit”: 
as to any Lender, the making of, or, in the case of
subsection 2.4(d)(ii), participation in, a Loan by such Lender or the
issuance of, or participation in, a Letter of Credit by such Lender.

 

“Facility”:  each of (a)
the Tranche B Dollar Term Loan Commitments and the Tranche B Dollar Term Loans
made thereunder, (b) the Tranche B Euro Term Loan Commitments and the Tranche B
Euro Term Loans made thereunder and (c) the Revolving Credit Commitments and
the Extensions of Credit made thereunder.

 

“Federal Funds Effective Rate”: 
as defined in the definition of the term “ABR” in this
subsection 1.1.

 

“Final Maturity Date”: 
April 7, 2011.

 

“Financing Lease”:  any
lease of property, real or personal, the obligations of the lessee in respect
of which are required in accordance with GAAP to be capitalized on a balance
sheet of the lessee.

 

“FIRREA”:  the Financial
Institutions Reform, Recovery and Enforcement Act of 1989, as amended from time
to time.

 

“First Merger”:  as
defined in the Recitals hereto.

 

“Foreign Backstop Letters of Credit”:  any Standby Letter of Credit issued to any Person for the account
of the Parent Borrower to provide credit support for Indebtedness of any Foreign
Subsidiary to such Person which is permitted under subsection 8.2.

 

“Foreign
Subsidiary”:  any Subsidiary of the
Parent Borrower which is organized and existing under the laws of any
jurisdiction outside of the United States of America or that is a Foreign
Subsidiary Holdco.

 

“Foreign Subsidiary
Borrower”:  any Foreign Subsidiary
which is listed as a Foreign Subsidiary Borrower on Schedule E, as such
schedule may be amended from time to time pursuant to
subsection 11.1(b) (including, without limitation, the delivery of the
documents required by subsection 11.1(b)); provided that, with
respect to each such listed Foreign Subsidiary, its status as a Foreign
Subsidiary Borrower hereunder shall not be effective until (a) such Foreign
Subsidiary and its Subsidiaries shall have become a Granting Party, Grantor,
Guarantor and Pledgor, to the extent applicable, under and as defined in the
Guarantee and Collateral Agreement or shall otherwise have entered into
collateral and security documents reasonably satisfactory to the Administrative
Agent and providing, to the extent reasonably practicable under relevant law,
substantially the equivalent of the lien and security interests contemplated to
be provided by Granting Parties, Grantors and Pledgors under the Guarantee and
Collateral Agreement, and (b) such Foreign Subsidiary shall have delivered its
initial notice of borrowing pursuant to subsection 2.2.

 

17

 

“Foreign
Subsidiary Holdco”:  any Subsidiary
of the Parent Borrower, so long as such Subsidiary has no material assets other
than securities of one or more Foreign Subsidiaries and Indebtedness issued by
such Foreign Subsidiaries, and other assets relating to an ownership interest
in any such securities, Indebtedness or Subsidiaries.  As of the Closing Date, each of Large FSHCo and Small FSHCo are
Foreign Subsidiary Holdcos.

 

“GAAP”:  with respect to
subsection 4.4(c) and the covenants contained in subsections 8.1, 8.2 and
8.8 and all defined terms relating thereto, generally accepted accounting
principles in the United States of America in effect on the Closing Date, and,
for all other purposes under this Agreement, generally accepted accounting
principles in the United States of America in effect from time to time.

 

“Governmental Authority”: 
any nation or government, any state or other political subdivision
thereof and any entity exercising executive, legislative, judicial, regulatory
or administrative functions of or pertaining to government, including, without
limitation, the European Union.

 

“Guarantee and Collateral Agreement”:  the Guarantee and Collateral Agreement delivered to the
Administrative Agent as of the date hereof, substantially in the form of
Exhibit B, as the same may be amended, supplemented, waived or otherwise
modified from time to time.

 

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

 

18

 

“Guarantors”:  the
collective reference to Holding and each Subsidiary of the Parent Borrower
(other than any Foreign Subsidiary, any Subsidiary of a Foreign Subsidiary, and
any Receivables Subsidiary), which is from time to time party to the Guarantee
and Collateral Agreement; individually, a “Guarantor”.

 

“Holding”:  as defined in
the Recitals hereto.

 

“Immobilien”:  as defined
in the Recitals hereto.

 

“Immobilien Acquisition”: 
as defined in the Recitals hereto.

 

“Indebtedness”:  of any
Person at any date, (a) all indebtedness of such Person for borrowed money or
for the deferred purchase price of property or services (other than trade
liabilities incurred in the ordinary course of business and payable in accordance
with customary practices), (b) any other indebtedness of such Person which is
evidenced by a note, bond, debenture or similar instrument, (c) all obligations
of such Person under Financing Leases, (d) all obligations of such Person in
respect of acceptances issued or created for the account of such Person, (e)
for purposes of subsection 8.2 and subsection 9(e) only, all
obligations of such Person in respect of interest rate protection agreements,
interest rate futures, interest rate options, interest rate caps and any other
interest rate hedge arrangements, and (f) all indebtedness or obligations of
the types referred to in the preceding clauses (a) through (e) to the extent
secured by any Lien on any property owned by such Person even though such Person
has not assumed or otherwise become liable for the payment thereof.

 

“Insolvency”:  with
respect to any Multiemployer Plan, the condition that such Plan is insolvent
within the meaning of Section 4245 of ERISA.

 

“Insolvent”:  pertaining
to a condition of Insolvency.

 

“Insured Fee Properties”: 
the collective reference to the real properties owned in fee by the Loan
Parties described on Part I(a) of Schedule 5.8, including without
limitation, all buildings, improvements, structures and fixtures now or subsequently
located thereon and owned by any such Loan Party.

 

“Intellectual Property”: 
as defined in subsection 5.9.

 

“Intercompany Transaction Documents”:  the promissory notes evidencing the intercompany loans identified
on Schedule 6.1(d), in each case as the same may be amended, modified or
supplemented from time to time in accordance with the terms hereof and thereof.

 

“Intercompany Transactions”: 
has the meaning provided in subsection 6.1(d).

 

“Interest Payment Date”:  (a) as to any ABR Loan, the last day of each
March, June, September and December to occur while such Loan is
outstanding, and the final maturity date of such Loan, (b) as to any
Eurocurrency Loan having an Interest Period of three months or less, the last
day of such Interest Period, (c) as to any Eurocurrency Loan having an Interest
Period longer than three months, (i) each day which is three months, or a whole
multiple thereof, after the first day of such Interest Period and (ii) the last
day of such Interest Period, and (d) as to

 

19

 

any Swing Line
Foreign Currency Loan, the last day of such Interest Period or any day agreed
to by the Parent Borrower and the Swing Line Lender.

 

“Interest Period”:  (a) as to any Swing Line Foreign Currency
Loan, the period commencing on the date of such borrowing and ending on the day
that is designated in the notice delivered pursuant to subsection 2.4(a)
with respect to such borrowing, which shall not be later than the seventh day
thereafter, and (b) with respect to any Eurocurrency Loan:

 

(x)            initially, the period
commencing on the borrowing or conversion date, as the case may be, with
respect to such Eurocurrency Loan and ending one, two, three or six months (or
if required pursuant to subsections 2.2 or 2.7, one week) thereafter, as
selected by the Parent Borrower in its notice of borrowing or notice of
conversion, as the case may be, given with respect thereto; and

 

(y)           thereafter, each period
commencing on the last day of the next preceding Interest Period applicable to
such Eurocurrency Loan and ending one, two, three or six months (or if required
pursuant to subsections 2.2 or 2.7, one week) thereafter, as selected by the
Parent Borrower by irrevocable notice to the Administrative Agent not less than
three Business Days prior to the last day of the then current Interest Period
with respect thereto;

 

provided that all of the foregoing provisions
relating to Interest Periods are subject to the following:

 

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

 

(ii)           (A) in the case of the
Revolving Credit Loans and the Swing Line Foreign Currency Loans, any Interest
Period that would otherwise extend beyond the Termination Date shall (for all
purposes other than subsection 4.12) end on the Termination Date and (B)
in the case of the Term Loans, any Interest Period that would otherwise extend
beyond the Final Maturity Date shall (for all purposes other than
subsection 4.12) end on the Final Maturity Date;

 

(iii)          any Interest Period
(other than an Interest Period in respect of a Swing Line Foreign Currency
Loan) that begins on the last Business Day of a calendar month (or on a day for
which there is no numerically corresponding day in the calendar month at the
end of such Interest Period) shall end on the last Business Day of a calendar
month; and

 

(iv)          the Parent Borrower
shall select Interest Periods so as not to require a scheduled payment of any
Eurocurrency Loan during an Interest Period for such Loan.

 

“Interest Rate Protection Agreement”:  any interest rate protection agreement, interest rate future,
interest rate option, interest rate cap or collar or other interest rate hedge

 

20

 

arrangement in form and substance, and for a term, reasonably
satisfactory to the Administrative Agent and with (a) any Lender or (b) any
financial institution reasonably acceptable to the Administrative Agent, to or
under which the Parent Borrower or any of its Subsidiaries is or becomes a
party or a beneficiary.

 

“Inventory”:  as defined
in the Uniform Commercial Code as in effect in the State of New York from
time to time; and, with respect to the Parent Borrower and its Domestic
Subsidiaries, all such Inventory of the Parent Borrower and such Domestic
Subsidiaries (other than any Receivables Subsidiary), including, without
limitation: (a) all goods, wares and merchandise held for sale or lease; and
(b) all goods returned or repossessed by the Parent Borrower or such Domestic
Subsidiaries.

 

“Investment Company Act”: 
the Investment Company Act of 1940, as amended from time to time.

 

“Investments”:  as
defined in subsection 8.9.

 

“Investors”:  CDRV
Investors, Inc., a Delaware corporation.

 

“Investors Expenses”: 
expenses, taxes and other amounts incurred or payable by Investors in
respect of which the Parent Borrower is permitted to make Restricted Payments
pursuant to subsection 8.7.

 

“Issuing Lender”:  as the
context may require, (a) the Administrative Agent or any affiliate thereof, in
its capacity as issuer of any Letter of Credit, (b) with respect to any
Existing Letter of Credit, the issuer thereof named on Schedule C or (c)
any other Lender that may become an Issuing Lender under Section 3.9.

 

“Interim Funding Side Letter”: the Interim Funding Letter
Agreement, dated as of April 7, 2004, among DBSI, Citigroup Global Markets
Inc., Banc of America Securities LLC, BNP Paribas Securities Corp. and Barclays
Capital Inc. and CDRV Acquisition Corporation.

 

“Joinder Agreement”:  as defined in subsection 11.1(b)(i).

 

“KMF Acquisition”:  the acquisition of the option (the “KMF
Option”) to acquire the Capital Stock of W. Knipp Vermögensverwaltungs
GmbH, the indirect owner of approximately 76% of Capital Stock of
KMF-Laborchemie-Handels GmbH (“Knipp GmbH”), any exercise of the KMF
Option and, if so exercised, the acquisition of the Capital Stock of Knipp GmbH
and its Subsidiaries pursuant to the KMF Option and any transactions related
thereto.

 

“Large FSHCo”:  as
defined in the Recitals hereto.

 

“Large FSHCo Immobilien Acquisition”:  as defined in the Recitals hereto.

 

“L/C Fee Payment Date”: 
with respect to any Letter of Credit, the last day of each January,
April, July and October to occur after the date of issuance thereof
to and including the first such day to occur on or after the date of expiry
thereof.

 

21

 

“L/C Obligations”:  at any time, an amount equal to the sum of
(a) the aggregate then undrawn and unexpired amount of the then outstanding Letters
of Credit (including, without limitation, in the case of outstanding Letters of
Credit in any Designated Foreign Currency, the Dollar Equivalent of the
aggregate then undrawn and unexpired amount thereof) and (b) the aggregate
amount of drawings under Letters of Credit which have not then been reimbursed
pursuant to subsection 3.5(a) (including, without limitation, in the case
of Letters of Credit in any Designated Foreign Currency, the Dollar Equivalent
of the unreimbursed aggregate amount of drawings thereunder, to the extent that
such amount has not been converted into Dollars in accordance with
subsection 3.5(a)).

 

“L/C Participants”:  the
collective reference to all the Revolving Credit Lenders other than the Issuing
Lender.

 

“Lead Arrangers”: shall mean and include Deutsche Bank
Securities Inc., Citigroup Global Markets Inc. and Banc of America Securities
LLC, as Joint Lead Arrangers and Joint Bookrunners.

 

“Lenders”:  the several
banks and other financial institutions from time to time parties to this
Agreement together with, in each case, any affiliate of any such bank or
financial institution through which such bank or financial institution elects,
by notice to the Administrative Agent and the Parent Borrower, to make any
Revolving Credit Loans or Swing Line Loans available to any Foreign Subsidiary
Borrower;
provided that for all purposes of voting or consenting with respect to
(a) any amendment, supplementation or modification of any Loan Document, (b)
any waiver of any of the requirements of any Loan Document or any Default or
Event of Default and its consequences or (c) any other matter as to which a
Lender may vote or consent pursuant to subsection 11.1 hereof, the bank or
financial institution making such election shall be deemed the “Lender” rather
than such affiliate, which shall not be entitled to so vote or consent.

 

“Lending Office”:  as
defined in subsection 4.10(c).

 

“Letters of
Credit”:  as defined in
subsection 3.1(a).

 

“Letter of Credit Request”: 
a letter of credit request in the form of Exhibit K attached
hereto or, in such form as the Issuing Lender may specify from time to time,
requesting the Issuing Lender to open a Letter of Credit.

 

“Lien”:  any mortgage,
pledge, hypothecation, assignment, security deposit arrangement, encumbrance,
lien (statutory or other), charge or other security interest or any preference,
priority or other security agreement or preferential arrangement of any kind or
nature whatsoever (including, without limitation , any conditional sale or
other title retention agreement and any Financing Lease having substantially
the same economic effect as any of the foregoing).

 

“Loan”:  a Revolving
Credit Loan, a Tranche B Dollar Term Loan, a Tranche B Euro Term Loan or a
Swing Line Loan, as the context shall require; collectively, the “Loans”.

 

“Loan Documents”:  this
Agreement, the Assumption Agreement, any Notes, the Letter of Credit Requests,
the Guarantee and Collateral Agreement, any other Security

 

22

 

Documents and any Joinder Agreement, each as amended, supplemented,
waived or otherwise modified from time to time.

 

“Loan Parties”:  Holding,
the Parent Borrower, each Foreign Subsidiary Borrower and each other Subsidiary
of the Parent Borrower that is a party to a Loan Document; individually, a
“Loan Party”.

 

“Management Investors”: 
the collective reference to the officers, directors, employees and other
members of the management of Holding, the Parent Borrower or any of their
Subsidiaries, or family members or relatives thereof or trusts for the benefit
of any of the foregoing, who at any particular date shall beneficially own or
have the right to acquire, directly or indirectly, common stock of Holding or
Investors.

 

“Management Subscription Agreements”:  one or more stock subscription, stock option, grant or other
agreements which have been or may be entered into between Holding or Investors
and one or more Management Investors (or any of their heirs, successors,
assigns, legal representatives or estates), with respect to the issuance to
and/or acquisition, ownership and/or disposition by any of such parties of
common stock of Holding or Investors or options, warrants, units or other
rights in respect of common stock of Holding or Investors, any agreements entered
into from time to time by transferees of any such stock, options, warrants or
other rights in connection with the sale, transfer or reissuance thereof, and
any assumptions of any of the foregoing by third parties, as amended,
supplemented, waived or otherwise modified from time to time.

 

“Mandatory Cost”:  the
percentage rate per annum calculated by the Administrative Agent in accordance
with Schedule 4.10(c).

 

“Mandatory Revolving Credit Loan Borrowing”:  as defined in subsection 2.4(c).

 

“Material Adverse Effect”: 
a material adverse effect on (a) the business, operations, property or
condition (financial or otherwise) of Holding and its Subsidiaries, taken as a
whole or (b) the validity or enforceability as to any Loan Party thereto of
this Agreement or any of the other Loan Documents or the rights or remedies of
the Administrative Agent and the Lenders under the Loan Documents taken as a
whole.

 

“Material Subsidiaries”: 
Subsidiaries of the Parent Borrower constituting, individually or in the
aggregate (as if such Subsidiaries constituted a single Subsidiary), a
“significant subsidiary” in accordance with Rule 1-02 under Regulation S-X.

 

“Materials of Environmental Concern”:  any gasoline or petroleum (including, without limitation, crude
oil or any fraction thereof) or petroleum products or any hazardous or toxic
substances or materials or wastes defined or regulated as such in or under or
which may give rise to liability under any applicable Environmental Law,
including, without limitation, asbestos, polychlorinated biphenyls and
urea-formaldehyde insulation.

 

“Mergers”:  as defined in
the Recitals hereto.

 

23

 

“Moody’s”:  as defined in
the definition of “Cash Equivalents” in this subsection 1.1.

 

“Mortgaged Fee Properties”: 
the collective reference to the real properties owned in fee by the Loan
Parties described on Part I(b) of Schedule 5.8, including, without
limitation, all buildings, improvements, structures and fixtures now or
subsequently located thereon and owned by any such Loan Party.

 

“Mortgaged Leased Properties”: 
the collective reference to the real properties leased by the Loan
Parties described on Part II of Schedule 5.8, including, without
limitation, all buildings, improvements, structures and fixtures now or
subsequently located thereon and owned or leased by any such Loan Party.

 

“Mortgaged Properties”: 
the collective reference to each of the Insured Fee Properties, the
Mortgaged Fee Properties and the Mortgaged Leased Properties.

 

“Mortgages”:  each of the
mortgages and deeds of trust, if any, executed and delivered by any Loan Party
to the Administrative Agent, substantially in the form of Exhibit C, as the
same may be amended, supplemented, waived or otherwise modified from time to
time.

 

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

 

“Name Change”:  as
defined in the Recitals hereto.

 

“Net Cash Proceeds”: 
with respect to any Asset Sale (including, without limitation, any Sale
and Leaseback Transaction), any Recovery Event, the issuance of any debt
securities or any borrowings by the Parent Borrower or any of its Subsidiaries
(other than issuances and borrowings permitted pursuant to subsection 8.2,
except as otherwise specified), or any Permitted Receivables Transaction, an
amount equal to the gross proceeds in cash and Cash Equivalents of such Asset
Sale, Recovery Event, sale, issuance, borrowing or Permitted Receivables
Transaction, net of (a) reasonable attorneys’ fees, accountants’ fees,
brokerage, consultant and other customary fees, underwriting commissions and
other reasonable fees and expenses actually incurred in connection with such
Asset Sale, Recovery Event, sale, issuance, borrowing or Permitted Receivables
Transaction, (b) taxes paid or reasonably estimated to be payable as a result
thereof, (c) appropriate amounts provided or to be provided by the Parent
Borrower or any of its Subsidiaries as a reserve, in accordance with GAAP, with
respect to any liabilities associated with such Asset Sale or Recovery Event
and retained by the Parent Borrower or any such Subsidiary after such Asset
Sale or Recovery Event and other appropriate amounts to be used by the Parent
Borrower or any of its Subsidiaries to discharge or pay on a current basis any
other liabilities associated with such Asset Sale or Recovery Event, (d) in the
case of a sale, Recovery Event or Sale and Leaseback Transaction of or
involving an asset subject to a Lien securing any Indebtedness, payments made
and installment payments required to be made to repay such Indebtedness,
including, without limitation, payments in respect of principal, interest and
prepayment premiums and penalties and (e) in the case of any Permitted
Receivables Transaction, any escrowed or pledged cash proceeds which
effectively secure, or are required to be maintained as reserves by the
applicable Receivables Subsidiary for, the

 

24

 

Indebtedness of the Parent Borrower and its Subsidiaries in respect of,
or the obligations of the Parent Borrower and its Subsidiaries under, such
Permitted Receivables Transaction.

 

“New York Process
Agent”:  as defined in
subsection 11.13(b).

 

“No More Favorable Terms and Conditions”:  with respect to any Indebtedness with
reference to other specified Indebtedness, (a) such Indebtedness has a maturity
date no earlier than the reference Indebtedness, (b) such Indebtedness has an
Average Life at the time such Indebtedness is incurred that is equal to or
greater than the reference Indebtedness as of such date, (c) such Indebtedness
is subordinated to the Loans to the same or greater extent as the reference
Indebtedness and (d) such Indebtedness contains covenants, events of default,
remedies, acceleration rights, amortization schedules and other material terms
that (i) are no more favorable to the holders of such Indebtedness than the
similar terms of the reference Indebtedness and (ii) are no less favorable to
the Lenders under the Loan Documents as of the date that such Indebtedness is
incurred.

 

“Non-Excluded Taxes”:  as
defined in subsection 4.11.

 

“Notes”:  the collective
reference to the Revolving Credit Notes, the Term Notes and the Swing Line
Note.

 

“Obligor”:  any purchaser
of goods or services or other Person obligated to make payment to the Parent
Borrower or any of its Subsidiaries (other than any Receivables Subsidiaries
and the Foreign Subsidiaries) in respect of a purchase of such goods or
services.

 

“Other Representatives”: 
each of DBSI, in its capacity as joint bookrunner and joint lead
arranger of the Commitments hereunder, CGMI, in its capacity as joint
bookrunner and joint lead arranger of the Commitments hereunder, BAS, in its
capacity as joint bookrunner and joint lead arranger of the Commitments hereunder,
CNAI, in its capacity as Syndication Agent and as a European Co-Arranger, BOA,
in its capacity as a Documentation Agent and as a European Co-Arranger, BNPP,
in its capacity as a Documentation Agent and as a European Co-Arranger,
Barclays, in its capacity as a Documentation Agent and as a European
Co-Arranger, DBAG, in its capacity as a European Co-Arranger, PNC Bank, in its
capacity as a European Co-Arranger, National Association, Natexis Banques
Populaires, New York Branch, in its capacity as a European Co-Arranger,
National City Bank, in its capacity as a European Co-Arranger, General Electric
Capital Corporation, in its capacity as a European Co-Arranger, and the Issuing
Lender, each in its capacity as such.

 

“Parent Borrower”:  as
defined in the Preamble hereto.

 

“Participants”:  as
defined in subsection 11.6(c).

 

“Participating Member State”: 
each state so described in any EMU legislation.

 

“PBGC”:  the Pension
Benefit Guaranty Corporation established pursuant to Subtitle A of Title IV of
ERISA (or any successor thereto).

 

25

 

“Permitted Acquisition Amount”: 
with respect to any incurrence of Indebtedness permitted by
subsection 8.2(b), that portion of the Net Cash Proceeds thereof as shall,
according to a certificate of a Responsible Officer of the Parent Borrower
delivered to the Administrative Agent no later than the date of incurrence of
such Indebtedness, be applied to pay the cash consideration for an acquisition
expressly permitted by subsection 8.10(b) within 90 days of the receipt of
such Net Cash Proceeds, provided that any Net Cash Proceeds not so
applied by the date that is 90 days after the receipt of such Net Cash Proceeds
shall be utilized on such date to prepay the Loans pursuant to subsection 4.4(b).

 

“Permitted Hedging Arrangement”:  as defined in subsection 8.18.

 

“Permitted Holders”:  (a)
any of the Equity Investors, Management Investors, CD&R and their
respective Affiliates; (b) any investment fund or vehicle managed, sponsored or
advised by CD&R or any Equity Investor or Affiliate thereof, and any
Affiliate of or successor to any such investment fund or vehicle; and (c) any
Person acting in the capacity of an underwriter in connection with a public or
private offering of Capital Stock of Investors, Holding or the Parent Borrower.

 

“Permitted Liens”:  as
defined in subsection 8.3.

 

“Permitted Receivables Transaction”:  any transaction or series of related transactions providing for
the financing of any Receivables; provided that any such transaction
shall be consummated (a) on terms that include terms substantially as described
on Schedule B or as the Required Lenders may otherwise consent, such
consent not to be unreasonably withheld, and (b) pursuant to documentation in
form and substance reasonably satisfactory to the Administrative Agent, as
evidenced by its written approval thereof (such approval not to be unreasonably
withheld).

 

“Permitted Receivables Transaction Prepayment Amount”:  with respect to the initial transfer of Receivables
pursuant to any Permitted Receivables Transaction, an amount equal to 100% of
the Net Cash Proceeds thereof.

 

“Person”:  an individual,
partnership, corporation, limited liability company, business trust, joint
stock company, trust, unincorporated association, joint venture, Governmental
Authority or other entity of whatever nature.

 

“Plan”:  at a particular
time, any employee benefit plan which is covered by ERISA and in respect of
which the Parent Borrower or a Commonly Controlled Entity is an “employer” as
defined in Section 3(5) of ERISA.

 

“Potentially Restricted Revolving Credit Lender”: (x) each
Revolving Credit Lender party to this Agreement on the Closing Date, which
notified the Administrative Agent prior thereto that it is unwilling to make
Extensions of Credit pursuant to its Revolving Credit Commitment to Foreign
Subsidiary Borrowers in certain jurisdictions and (y) any other Revolving
Credit Lender that becomes a party to this Agreement after the Closing Date
which the Administrative Agent in its sole discretion agrees at any time to
treat as a Potentially Restricted Revolving Credit Lender, with the consent of
the Parent Borrower.

 

26

 

“Pricing Grid”:  (a) with
respect to Revolving Credit Loans and Swing Line Loans:

 

	
  Consolidated Leverage Ratio

  	
   

  	
  Applicable
  Margin for

  ABR Loans

  	
   

  	
  Applicable
  Margin for

  Eurocurrency Loans

  	
   

  
	
  Greater than 5.00:1.00

  	
   

  	
  1.50

  	
  %

  	
  2.50

  	
  %

  
	
  Greater than 4.50:1.00, but less than or
  equal to 5.00:1.00

  	
   

  	
  1.25

  	
  %

  	
  2.25

  	
  %

  
	
  Greater than 4.00:1.00, but less than or
  equal to 4.50:1.00

  	
   

  	
  1.00

  	
  %

  	
  2.00

  	
  %

  
	
  Less than or equal to 4.00:1.00

  	
   

  	
  0.75

  	
  %

  	
  1.75

  	
  %

  

 

(b)           with
respect to Tranche B Dollar Term Loans:

 

	
  Consolidated Leverage Ratio

  	
   

  	
  Applicable
  Margin for

  ABR Loans

  	
   

  	
  Applicable
  Margin for

  Eurocurrency Loans

  	
   

  
	
  Greater than 5.00:1.00

  	
   

  	
  1.50

  	
  %

  	
  2.50

  	
  %

  
	
  Less than or equal to 5.00:1.00

  	
   

  	
  1.25

  	
  %

  	
  2.25

  	
  %

  

 

Each determination of the Consolidated Leverage Ratio pursuant to the
Pricing Grids shall be made in a manner consistent with the determination
thereof pursuant to subsection 8.1.

 

“Prime Rate”:  as defined
in the definition of the term “ABR” in this subsection 1.1.

 

“Pro Forma Date”:  as
defined in subsection 5.1(b).

 

“Pro Forma Financial Statements”:  as defined in subsection 5.1(b).

 

“Receivables”:  all
Accounts and accounts receivable of the Parent Borrower or any of its Domestic
Subsidiaries (other than any Receivables Subsidiaries), including, without
limitation, any thereof constituting or evidenced by chattel paper, instruments
or general intangibles, and all proceeds thereof and rights (contractual and
other) and collateral related thereto.

 

“Receivables Subsidiary”: 
any special purpose, bankruptcy-remote Subsidiary of the Parent Borrower
that purchases, on a revolving basis, Receivables generated by the Parent
Borrower or any of its Subsidiaries.

 

27

 

“Recovery Event”:  any
settlement of or payment in respect of any property or casualty insurance claim
or any condemnation proceeding relating to any asset of the Parent Borrower or
any of its Subsidiaries giving rise to Net Cash Proceeds to the Parent Borrower
or such Subsidiary, as the case may be, in excess of $500,000, to the extent
that such settlement or payment does not constitute reimbursement or
compensation for amounts previously paid by the Parent Borrower or any of its
Subsidiaries in respect of such casualty or condemnation.

 

“Refinance”:  with
respect to any then outstanding Indebtedness, the issuance of Indebtedness
issued or given in exchange for, or the proceeds of which are used to, extend,
refinance, renew, replace, substitute or refund such theretofore outstanding
Indebtedness.

 

“Refinancing Senior Notes”: 
senior unsecured notes or loans issued or incurred by the Parent
Borrower to refinance the 2004 Senior Notes in whole or in part on or prior to
the 6 month anniversary of the Closing Date, but only if the provisions of
Section 2 of the Interim Funding Side Letter result in any modification to
the terms of the 2004 Senior Notes originally issued, as the same may be
exchanged for substantially similar unsecured senior notes that have been
registered under the Securities Act; provided that such notes (x) shall
be on market terms and conditions, (y) shall not have a maturity date earlier
than the 2004 Senior Notes originally issued and (z) shall have no required
amortization, sinking fund payments, mandatory prepayments or redemptions, or
mandatory offers to purchase, in each case prior to the date occurring six
months after the Final Maturity Date, except that the Refinancing Senior Notes
may have mandatory offers to purchase based upon “changes of control” and/or
“asset dispositions” on terms substantially similar to those contained in the
2004 Senior Note Indenture as originally in effect (and which, in the case of
asset dispositions, permit repayment of Indebtedness pursuant to this Agreement
before requiring a mandatory offer to purchase the Refinancing Senior Notes).

 

“Refinancing Subordinated Notes”:  senior unsecured subordinated notes or loans issued or incurred
by the Parent Borrower to refinance the 2004 Senior Notes in whole or in part
and/or the 2004 Senior Subordinated Notes in whole or in part on or prior to
the 6 month anniversary of the Closing Date, but only if the provisions of
Section 2 of the Interim Funding Side Letter result in any modification to
the terms of the 2004 Senior Subordinated Notes originally issued, as the same
may be exchanged for substantially similar unsecured subordinated notes that
have been registered under the Securities Act; provided that such notes
(w) shall be on market terms and conditions, (x) shall not have a maturity date
earlier than the 2004 Senior Subordinated Notes originally issued, (y) shall be
subordinated to the Indebtedness incurred pursuant to the Credit Agreement on
market terms and conditions, which, in the aggregate are not less favorable to
the Lenders than those of the 2004 Senior Subordinated Notes originally issued
in any material respect and (z) shall have no required amortization, sinking
fund payments, mandatory prepayments or redemptions, or mandatory offers to
purchase, in each case prior to the date occurring 32 months after the Final
Maturity Date, except that the Refinancing Subordinated Notes may have
mandatory offers to purchase based upon “changes of control” and/or “asset
dispositions” on terms substantially similar to those contained in the 2004
Senior Subordinated Note Indenture as originally in effect (and which, in the
case of asset dispositions, permit repayment of Indebtedness pursuant to this
Agreement before requiring a mandatory offer to purchase the Refinancing
Subordinated Notes).

 

28

 

“Refunded Swing Line Loans”: 
as defined in subsection 2.4(c).

 

“Register”:  as defined
in subsection 11.6(b).

 

“Regulation S-X”: 
Regulation S-X promulgated by the Securities and Exchange Commission, as
in effect on the Closing Date.

 

“Regulation T”: 
Regulation T of the Board as in effect from time to time.

 

“Regulation U”:  Regulation
U of the Board as in effect from time to time.

 

“Regulation X”: 
Regulation X of the Board as in effect from time to time.

 

“Reimbursement Obligations”: 
the obligation of the Parent Borrower to reimburse the Issuing Lender
pursuant to subsection 3.5(a) for amounts drawn under Letters of Credit.

 

“Reincorporation Merger”: 
as defined in the Recitals hereto.

 

“Reinvested Amount”: 
with respect to any Asset Sale permitted by subsection 8.6(i) or
Recovery Event, that portion of the Net Cash Proceeds thereof (which portion
shall not exceed, with respect to any Asset Sale occurring on or after the
Closing Date (but not any Recovery Event), $35,000,000 minus the aggregate
Reinvested Amounts with respect to all such Asset Sales on or after the Closing
Date) as shall, according to a certificate of a Responsible Officer of the
Parent Borrower delivered to the Administrative Agent within 30 days of such
Asset Sale or Recovery Event, be reinvested in the business of the Parent
Borrower and its Subsidiaries in a manner consistent with the requirements of
subsection 8.17 and the other provisions hereof within 180 days of the
receipt of such Net Cash Proceeds with respect to any such Asset Sale or
Recovery Event or, if such reinvestment is in a project authorized by the board
of directors of the Parent Borrower that will take longer than such 180 days to
complete, the period of time necessary to complete such project; provided
that (a) if any such certificate of a Responsible Officer is not delivered to
the Administrative Agent on the date of such Asset Sale or Recovery Event, any
Net Cash Proceeds of such Asset Sale or Recovery Event shall be immediately (i)
deposited in a cash collateral account established at DBAG to be held as
collateral in favor of the Administrative Agent for the benefit of the Lenders
on terms reasonably satisfactory to the Administrative Agent and shall remain
on deposit in such cash collateral account until such certificate of a
Responsible Officer is delivered to the Administrative Agent or (ii) used to
make a prepayment of the Revolving Credit Loans in accordance with
subsection 4.4(a); provided that, notwithstanding anything in this
Agreement to the contrary, the Parent Borrower may not request any Extension of
Credit under the Revolving Credit Commitments that would reduce the aggregate
amount of the Available Revolving Credit Commitments to an amount that is less
than the amount of any such prepayment until such certificate of a Responsible
Officer is delivered to the Administrative Agent and (b) any Net Cash Proceeds
not so reinvested by the date required pursuant to the terms of this definition
shall be utilized on such day to prepay the Loans pursuant to
subsection 4.4(b).

 

“Reorganization”:  with
respect to any Multiemployer Plan, the condition that such plan is in
reorganization within the meaning of Section 4241 of ERISA.

 

29

 

“Reportable Event”:  any
of the events set forth in Section 4043(c) of ERISA, other than those
events as to which the thirty day notice period is waived under subsections
..13, .14, .16, .18, .19 or .20 of PBGC Reg. § 2615 or any successor
regulation thereto.

 

“Required Collateral Release Lenders”:  at any time, Lenders the Total Credit Percentages of which
aggregate at least 80%.

 

“Required Lenders”:  at
any time, Lenders the Total Credit Percentages of which aggregate greater than
50%.

 

“Requirement of Law”:  as
to any Person, the certificate of incorporation and by-laws or other
organizational or governing documents of such Person, and any law, statute,
ordinance, code, decree, treaty, rule or regulation or determination of an
arbitrator or a court or other Governmental Authority, in each case applicable
to or binding upon such Person or any of its material property or to which such
Person or any of its material property is subject, including, without
limitation, laws, ordinances and regulations pertaining to zoning, occupancy
and subdivision of real properties; provided that the foregoing shall
not apply to any non-binding recommendation of any Governmental Authority.

 

“Responsible Officer”: 
as to any Person, any of the following officers of such Person:  (a) the chief executive officer or the
president of such Person and, with respect to financial matters, the chief
financial officer, the treasurer or the controller of such Person, (b) any vice
president of such Person or, with respect to financial matters, any assistant
treasurer or assistant controller of such Person, who has been designated in
writing to the Administrative Agent as a Responsible Officer by such chief
executive officer or president of such Person or, with respect to financial
matters, such chief financial officer of such Person, (c) with respect to
subsection 7.7 and without limiting the foregoing, the general counsel of
such Person and (d) with respect to ERISA matters, the senior vice president -
human resources (or substantial equivalent) of such Person.

 

“Restricted Revolving Credit Lender”: as defined in
subsection 11.1(b).

 

“Revolving Credit Commitment”: 
as to any Revolving Credit Lender, its obligation to make Revolving
Credit Loans to, and/or make or participate in Swing Line Loans made to, and/or
issue or participate in Letters of Credit issued on behalf of, the Borrowers in
an aggregate amount not to exceed at any one time outstanding the amount set
forth opposite such Revolving Credit Lender’s name in Schedule A under the
heading “Revolving Credit Commitment” or, in the case of any Lender that is an
Assignee, the amount of the assigning Lender’s Revolving Credit Commitment
assigned to such Assignee pursuant to subsection 11.6(b) (in each case as
such amount may be adjusted from time to time as provided herein);
collectively, as to all the Revolving Credit Lenders, the “Revolving Credit
Commitments”.  The original amount of
the aggregate Revolving Credit Commitments of the Revolving Credit Lenders is
$150,000,000.

 

“Revolving Credit Commitment Percentage”:  as to any Revolving Credit Lender, the
percentage of the aggregate Revolving Credit Commitments constituted by its
Revolving Credit Commitment (or, if the Revolving Credit Commitments have
terminated or expired, the

 

30

 

percentage which (a) the sum of (i) such Lender’s then outstanding
Revolving Credit Loans plus (ii) such Lender’s interests in the aggregate L/C
Obligations and Swing Line Loans then outstanding then constitutes of (b) the
sum of (i) the aggregate Revolving Credit Loans of all the Revolving Credit
Lenders then outstanding plus (ii) the aggregate L/C Obligations and Swing Line
Loans then outstanding).

 

“Revolving Credit Commitment Period”:  the period from and including the Closing Date to but not
including the Termination Date, or such earlier date as the Revolving Credit
Commitments shall terminate as provided herein.

 

“Revolving Credit Lender”: 
any Lender having a Revolving Credit Commitment hereunder and/or a
Revolving Credit Loan outstanding hereunder.

 

“Revolving Credit Loans”: 
as defined in subsection 2.1(a).

 

“Revolving Credit Note”: 
as defined in subsection 2.1(c).

 

“Sale and Leaseback Transaction”:  as defined in subsection 8.12.

 

“S&P”:  as defined in
the definition of the term “Cash Equivalents” in this subsection 1.1.

 

“Second Merger”:  as
defined in the Recitals hereto.

 

“Secured Parties”:  as
defined in the Guarantee and Collateral Agreement.

 

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

 

“Security Documents”: 
the collective reference to the Mortgages, the Guarantee and Collateral Agreement
and all other similar security documents hereafter delivered to the
Administrative Agent granting a Lien on any asset or assets of any Person to
secure the obligations and liabilities of the Loan Parties hereunder and/or
under any of the other Loan Documents or to secure any guarantee of any such
obligations and liabilities, including, without limitation, any security
documents executed and delivered or caused to be delivered to the
Administrative Agent pursuant to subsection 7.9(b) or 7.9(c), in each
case, as amended, supplemented, waived or otherwise modified from time to time.

 

“Set”:  the collective
reference to Eurocurrency Loans of a single Tranche, the then current Interest
Periods with respect to all of which begin on the same date and end on the same
later date (whether or not such Loans shall originally have been made on the
same day).

 

“Single Employer Plan”: 
any Plan which is covered by Title IV of ERISA, but which is not a
Multiemployer Plan.

 

“Small FSHCo”:  as
defined in the Recitals hereto.

 

“Small FSHCo Immobilien Acquisition”:  as defined in the Recitals hereto.

 

31

 

“Solvent” and “Solvency”: 
with respect to any Person on a particular date, the condition that, on
such date, (a) the fair value of the property of such Person is greater than
the total amount of liabilities, including, without limitation, contingent
liabilities, of such Person, (b) the present fair salable value of the assets
of such Person is not less than the amount that will be required to pay the
probable liability of such Person on its debts as they become absolute and
matured, (c) such Person does not intend to, and does not believe that it will,
incur debts or liabilities beyond such Person’s ability to pay as such debts
and liabilities mature, and (d) such Person is not engaged in business or a
transaction, and is not about to engage in business or a transaction, for which
such Person’s property would constitute an unreasonably small amount of
capital.

 

“Spot Rate of
Exchange”: (i) with respect to any Designated Foreign Currency
(except as provided in clause (ii) below), at any date of determination
thereof, the spot rate of exchange in London that appears on the display page
applicable to such Designated Foreign Currency on the Telerate System (or such
other page as may replace such page for the purpose of displaying the spot rate
of exchange in London), provided that if there shall at any time no longer
exist such a page, the spot rate of exchange shall be determined by reference
to another similar rate publishing service selected by the Administrative Agent
and, if no such similar rate publishing service is available, by reference to
the published rate of the Administrative Agent in effect at such date for
similar commercial transactions or (ii) with respect to any Letters of Credit
denominated in any Designated Foreign Currency (x) for the purposes of
determining the Dollar Equivalent of L/C Obligations and for the calculation of
Letter of Credit fees and commissions, the spot rate of exchange quoted in the
Wall Street Journal on the first Business Day of each month (or, if same does
not provide rates, by such other means reasonably satisfactory to the
Administrative Agent and the Borrower) and (y) for the purpose of determining
the Dollar Equivalent of any Letter of Credit with respect to (A) a demand for
payment of any drawing under such Letter of Credit (or any portion thereof) to
any L/C Participants pursuant to subsection 3.4(a) or (B) a notice from
any Issuing Lender for reimbursement of the Dollar Equivalent of any drawing
(or any portion thereof) under such Letter of Credit by the Parent Borrower
pursuant to subsection 3.5(a), the market spot rate of exchange quoted by
the Administrative Agent on the date of such drawing or notice, as applicable.

 

“Standby Letter of Credit”: 
as defined in subsection 3.1(a).

 

“Sterling”:  British
pounds sterling.

 

“Subsidiary”:  as to any
Person, a corporation, partnership, limited liability company or other entity
(a) of which shares of stock or other ownership interests having ordinary
voting power (other than stock or such other ownership interests having such
power only by reason of the happening of a contingency) to elect a majority of
the board of directors or other managers of such corporation, partnership,
limited liability company or other entity are at the time owned by such Person,
or (b) the management of which is otherwise controlled, directly or indirectly
through one or more intermediaries, or both, by such Person and, in the case of
this clause (b), which is treated as a consolidated subsidiary for accounting
purposes.  Unless otherwise qualified,
all references to a “Subsidiary” or to “Subsidiaries” in this Agreement shall refer
to a Subsidiary or Subsidiaries of the Parent Borrower.

 

32

 

“Swing Line Commitment”: 
the Swing Line Lender’s obligation to make Swing Line Loans pursuant to
subsection 2.4.

 

“Swing Line Foreign
Currency Loan”:  any Swing Line Loan
made in a Designated Foreign Currency the rate of interest applicable to which
is based upon the Swing Line Foreign Currency Rate.

 

“Swing Line Foreign
Currency Rate”: with respect to any Swing Line Loan made in a Designated
Foreign Currency, (a) for Interest Periods of up to and including seven days,
the rate per annum determined by the Administrative Agent to be the arithmetic
mean (rounded upwards to the nearest 1/100th of 1%) of the offered
rates for deposits in the applicable Designated Foreign Currency for a period
equal to such Interest Period by reference to the British Bankers Association
Interest Settlement Rates displayed on the appropriate page of the Telerate
screen at approximately 11.00 A.M., London time, on the second full Business
Day preceding the first day of such Interest Period (the “Quotation Day”)
or (b) for any other Interest Period the average (rounded upwards to the next
1/100th of 1%) of the interest rates per annum at which the deposits
of the relevant Designated Foreign Currency are offered for such Interest
Period to major banks in the London interbank market by the Administrative
Agent on the Quotation Day.

 

“Swing Line Lender”: 
DBAG, in its capacity as provider of the Swing Line Loans.

 

“Swing Line Loan Participation Certificate”:  a certificate in substantially the form of
Exhibit G.

 

“Swing Line Loans”:  as
defined in subsection 2.4(a).

 

“Swing Line Note”:  as
defined in subsection 2.4(b).

 

“Syndication Agent”:  as
defined in the Preamble hereto.

 

“Synthetic Purchase Agreement”: 
any agreement pursuant to which the Parent Borrower or any of its
Subsidiaries is or may become obligated to make any payment (except as
otherwise permitted by this Agreement) to any third party (other than Holding
or any of its Subsidiaries) in connection with the purchase or the notional
purchase by such third party or any Affiliate thereof from a Person other than
Holding or any of its Subsidiaries of any Capital Stock of Investors or Holding
or any Existing Notes; provided that the term “Synthetic Purchase Agreement”
shall not be deemed to include (a) any phantom stock, stock appreciation
rights, equity purchase or similar plan or arrangement providing for payments
only to current or former officers, directors, employees and other members of
the management of Holding, the Parent Borrower or any of their respective
Subsidiaries, or family members or relatives thereof or trusts for the benefit
of any of the foregoing (or to their heirs, successors, assigns, legal
representatives or estates), or (b) any agreement evidencing or relating to (i)
one or more Guarantee Obligations in connection with Indebtedness incurred by
any Management Investors in connection with any Management Subscription
Agreements or other purchases by them of Capital Stock of Investors (so long as
Investors applies the net cash proceeds of such purchases to make capital
contributions to, or purchase Capital Stock of, Holding or applies such
proceeds to pay Investors

 

33

 

Expenses) or Holding, or any refinancing, refunding, extension or
renewal thereof, or (ii) one or more loans or advances to one or more
Management Investors in connection with the purchase by such Management
Investors of Capital Stock of Investors (so long as Investors applies the net
cash proceeds of such purchases to make capital contributions to, or purchase
Capital Stock of, Holding or applies such proceeds to pay Investors Expenses)
or Holding (including in each case under this clause (b), without limitation,
any agreement evidencing any right or option to acquire any such stock in
connection with payment under any such Guarantee Obligation or in partial or
full satisfaction of any such loan or advance).

 

“Tax Sharing Agreement”: 
the Tax Sharing Agreement among Investors, Holding and the Parent
Borrower, in form and substance reasonably satisfactory to the Administrative
Agent, to be entered into on or prior to the Closing Date, as the same may be
amended, supplemented or otherwise modified from time to time in accordance with
subsection 8.14(e).

 

“Term Loan”:  a Tranche B
Term Loan; collectively, the “Term Loans”.

 

“Term Loan Commitment”: 
a Tranche B Term Loan Commitment; collectively, the “Term Loan
Commitments”.

 

“Term Loan Lender”:  any
Lender having a Term Loan Commitment hereunder and/or a Term Loan outstanding
hereunder.

 

“Term Note”:  a Tranche B
Dollar Term Note or a Tranche B Euro Term Note, as the context may require,
collectively, the “Term Notes”.

 

“Termination Date”: 
April 7, 2009.

 

“Total Credit Percentage”: 
as to any Lender at any time, the percentage of the aggregate Revolving
Credit Commitments (or, in the case of the termination or expiration of the
Revolving Credit Commitments, the Aggregate Outstanding Revolving Credit of the
Lenders) and aggregate outstanding Tranche B Term Loans of the Lenders, and
aggregate unused Term Loan Commitments of the Lenders, then constituted by such
Lender’s Revolving Credit Commitment (or, in the case of the termination or
expiration of the Revolving Credit Commitments, such Lender’s Aggregate
Outstanding Revolving Credit) and outstanding Tranche B Term Loans and unused
Term Loan Commitments (if any).  In
making determinations pursuant to the preceding sentence, the Dollar Equivalent
of all amounts expressed in currencies other than Dollars shall be utilized.

 

“Tranche”:  each Tranche
of Loans available hereunder, with there being four tranches on the Closing
Date; namely Revolving Credit Loans, Swing Line Loans, Tranche B Dollar Term
Loans and Tranche B Euro Term Loans.

 

“Tranche B Dollar Term Loan”: 
as defined in subsection 2.5(a).

 

“Tranche B Dollar Term Loan Commitment”:  as to any Tranche B Dollar Term Loan Lender,
its obligation to make Tranche B Dollar Term Loans to the Parent Borrower in an
aggregate amount not to exceed at any one time outstanding the amount set forth
opposite such

 

34

 

Tranche B Dollar Term Loan Lender’s name in Schedule A under the
heading “Tranche B Dollar Term Loan Commitment” or, in the case of any Lender
that is an Assignee, the amount of the assigning Lender’s Tranche B Dollar Term
Loan Commitment assigned to such Assignee pursuant to subsection 11.6(b)
(in each case as such amount may be adjusted from time to time as provided
herein); collectively, as to all the Tranche B Dollar Term Loan Lenders, the
“Tranche B Dollar Term Loan Commitments”. 
The original aggregate amount of the Tranche B Dollar Term Loan
Commitments on the Closing Date is $415,000,000.

 

“Tranche B Dollar Term Loan Lender”:  any Lender having a Tranche B Dollar Term Loan Commitment
hereunder and/or a Tranche B Dollar Term Loan outstanding hereunder.

 

“Tranche B Dollar Term Loan Percentage”:  as to any Tranche B Dollar Term Loan Lender
at any time, the percentage which (a) the sum of (i) such Lender’s Tranche B
Dollar Term Loans then outstanding and (ii) such Lender’s unused Tranche B
Dollar Term Loan Commitment then outstanding constitutes of (b) the sum of (i)
the aggregate Tranche B Dollar Term Loans of all the Tranche B Dollar Term Loan
Lenders then outstanding and (ii) the aggregate unused Tranche B Dollar Term
Loan Commitments then outstanding (or, if the Tranche B Dollar Term Loan
Commitments have terminated or expired, the percentage which such Lender’s
Tranche B Dollar Term Loans then outstanding constitutes of the aggregate
Tranche B Term Loans then outstanding).

 

“Tranche B Dollar Term Note”: 
as defined in subsection 2.6(a)(i).

 

“Tranche B Euro Term Loan”: 
as defined in subsection 2.5(b).

 

“Tranche B Euro Term Loan Commitment”:  as to any Tranche B Euro Term Loan Lender, its obligation to make
Tranche B Euro Term Loans to the Parent Borrower in an aggregate amount not to
exceed at any one time outstanding the amount set forth opposite such Tranche B
Euro Term Loan Lender’s name in Schedule A under the heading “Tranche B
Euro Term Loan Commitment” or, in the case of any Lender that is an Assignee,
the amount of the assigning Lender’s Tranche B Euro Term Loan Commitment
assigned to such Assignee pursuant to subsection 11.6(b) (in each case as
such amount may be adjusted from time to time as provided herein);
collectively, as to all the Tranche B Euro Term Loan Lenders, the “Tranche B
Euro Term Loan Commitments”.  The
original aggregate amount of the Tranche B Euro Term Loan Commitments on the
Closing Date is €145,000,000.

 

“Tranche B Euro Term Loan Lender”:  any Lender having a Tranche B Euro Term Loan Commitment hereunder
and/or a Tranche B Euro Term Loan outstanding hereunder.

 

“Tranche B Euro Term Loan Percentage”:  as to any Tranche B Euro Term Loan Lender at any time, the
percentage which (a) the sum of (i) such Lender’s Tranche B Euro Term Loans
then outstanding and (ii) such Lender’s unused Tranche B Euro Term Loan
Commitment then outstanding constitutes of (b) the sum of (i) the aggregate
Tranche B Euro Term Loans of all the Tranche B Euro Term Loan Lenders then
outstanding and (ii) the aggregate unused Tranche B Euro Term Loan Commitments
then outstanding (or, if the Tranche B Euro Term Loan Commitments have
terminated or expired, the percentage which such Lender’s Tranche B

 

35

 

Euro Term Loans then outstanding constitutes of the aggregate Tranche B
Term Loans then outstanding).

 

“Tranche B Euro Term Note”:  as defined in subsection 2.6(a)(ii).

 

“Tranche B Term Loans”: 
as defined in subsection 2.5(b).

 

“Tranche B Term Loan Commitment”:  either or both of the Tranche B Dollar Term Loan Commitment or
Tranche B Euro Term Loan Commitment, as the context may require.

 

“Tranche B Term Loan Lender”: 
any Lender having either or both (i) a Tranche B Dollar Term Loan
Commitment hereunder and/or a Tranche B Dollar Term Loan outstanding hereunder
and/or (ii) a Tranche B Euro Term Loan Commitment hereunder and/or a Tranche B
Euro Term Loan outstanding hereunder.

 

“Tranche B Term Loan Percentage”:  either or both of the Tranche B Term Dollar Term Loan Percentage
or Tranche B Euro Term Loan Percentage, as the context may require.

 

“Transactions”:  as
defined in the Recitals hereto.

 

“Transaction Documents”: 
(i) the Loan Documents, (ii) the Acquisition Documents, (iii) the Equity
Financing Documents, (iv) Intercompany Transaction Documents, (v) the 2004
Senior Note Documents and (vi) the 2004 Senior Subordinated Note Documents.

 

“Transferee”:  any
Participant or Assignee.

 

“Treaty”:  the Treaty
establishing the European Economic Community, being the Treaty of Rome of
March 25, 1957 as amended by the Single European Act 1986 and the
Maastricht Treaty (which was signed on February 7, 1992 and came into
force on November 1, 1993) and as may, from time to time, be further
amended, supplemented or otherwise modified.

 

“Type”:  the type of Loan
determined based on the currency in which the same is denominated, and the
interest option applicable thereto, with there being multiple Types of Loans
hereunder, namely ABR Loans, Eurocurrency Loans in each of the Designated
Currencies, and Swing Line Foreign Currency Loans in each of the Designated
Currencies.

 

“2004 Senior Note Documents”: 
the collective reference to the 2004 Senior Notes and the 2004 Senior
Note Indenture; individually, a “2004 Senior Note Document”.

 

“2004 Senior Note Indenture”: 
the indenture dated as of April 7, 2004 between the Parent Borrower
and Wells Fargo Bank, National Association, as trustee, and any agreement
pursuant to which any Refinancing Senior Notes are issued or incurred, as the
same may be amended, supplemented, waived or otherwise modified from time to
time in accordance with subsection 8.14 to the extent applicable.

 

“2004 Senior Notes”:  the
67/8% Senior Notes due 2012 in an aggregate initial
principal amount of $200,000,000 issued by the Parent Borrower, as the same may
be exchanged

 

36

 

for substantially similar unsecured senior notes that have been
registered under the Securities Act or replaced by Refinancing Senior Notes,
and as the same or such substantially similar notes may be amended,
supplemented, waived or otherwise modified from time to time in accordance with
subsection 8.14 to the extent applicable.

 

“2004 Senior Subordinated Note Documents”:  the collective reference to the 2004 Senior
Subordinated Notes and the 2004 Senior Subordinated Note Indenture;
individually, a “2004 Senior Subordinated Note Document”.

 

“2004 Senior Subordinated Note Indenture”:  the indenture dated as of April 7, 2004
between the Parent Borrower and Wells Fargo Bank, National Association, as
trustee, and any agreement pursuant to which any Refinancing Subordinated Notes
are issued or incurred, as the same may be amended, supplemented, waived or
otherwise modified from time to time in accordance with subsection 8.14 to
the extent applicable.

 

“2004 Senior Subordinated Notes”:  the 8% Senior Subordinated Notes due 2014 in an initial aggregate
principal amount of $320,000,000 issued by the Parent Borrower, as the same may
be exchanged for substantially similar unsecured senior subordinated notes that
have been registered under the Securities Act or replaced by Refinancing
Subordinated Notes, and as the same or such substantially similar notes may be
amended, supplemented, waived or otherwise modified from time to time in
accordance with subsection 8.14 to the extent applicable.

 

“Underfunding”:  the
excess of the present value of all accrued benefits under a Plan (based on
those assumptions used to fund such Plan), determined as of the most recent
annual valuation date, over the value of the assets of such Plan allocable to
such accrued benefits.

 

“Uniform Customs”:  the
Uniform Customs and Practice for Documentary Credits (1993 Revision),
International Chamber of Commerce Publication No. 500, as the same may be
amended from time to time.

 

“U.S. Tax Compliance Certificate”:  as defined in subsection 4.11(b).

 

“VWR”:  as defined in the
Recitals hereto.

 

“VWR
Acquisition”:  as defined in the
Recitals hereto.

 

“VWR
International, Inc.”:  as defined in
the Recitals hereto.

 

“VWR
Pennsylvania”:  as defined in the
Recitals hereto.

 

“Wholly
Owned Subsidiary”:  as to any
Person, any Subsidiary of such Person of which such Person owns, directly or
indirectly through one or more Wholly Owned Subsidiaries, all of the Capital
Stock of such Subsidiary other than directors qualifying shares or shares held
by nominees.

 

37

 

1.2.          Other
Definitional Provisions. 
(a)  Unless otherwise specified therein, all terms defined in
this Agreement shall have the defined meanings when used in any Notes, any
other Loan Document or any certificate or other document made or delivered
pursuant hereto.

 

(b)           As used herein and in any Notes and
any other Loan Document, and any certificate or other document made or
delivered pursuant hereto or thereto, accounting terms relating to Holding and
its Subsidiaries not defined in subsection 1.1 and accounting terms partly
defined in subsection 1.1, to the extent not defined, shall have the
respective meanings given to them under GAAP.

 

(c)           The words “hereof”, “herein” and
“hereunder” and words of similar import when used in this Agreement shall refer
to this Agreement as a whole and not to any particular provision of this
Agreement, and Section, subsection, Schedule and Exhibit references are to
this Agreement unless otherwise specified.

 

(d)           The meanings given to terms defined
herein shall be equally applicable to both the singular and plural forms of
such terms.

 

SECTION 2.           AMOUNT AND TERMS OF
COMMITMENTS.

 

2.1.          Revolving
Credit Commitments.  (a)  Subject to the terms and conditions hereof,
each Revolving Credit Lender severally agrees to make revolving credit loans (“Revolving
Credit Loans”) to each of the Borrowers from time to time during the
Revolving Credit Commitment Period in an aggregate principal amount at any one
time outstanding which, when added to such Revolving Credit Lender’s Revolving
Credit Commitment Percentage of the sum of the then outstanding L/C Obligations
and the then outstanding Swing Line Loans, does not exceed the amount of such
Lender’s Revolving Credit Commitment then in effect; provided that (x)
no Revolving Credit Lender shall make any Revolving Credit Loan in any
Designated Foreign Currency if, after giving effect to the making of such
Revolving Credit Loan, the sum of the Dollar Equivalent of the then outstanding
Revolving Credit Loans in Designated Foreign Currencies, the then outstanding
Swing Line Foreign Currency Loans and the then outstanding L/C Obligations in
respect of Foreign Backstop Letters of Credit would exceed $75,000,000 and (y)
the aggregate principal amount of Revolving Credit Loans and Swing Line Loans
made to Foreign Subsidiary Borrowers shall at no time exceed $25,000,000 (it
being understood and agreed that the Administrative Agent shall calculate the
Dollar Equivalent of the then outstanding Revolving Credit Loans in any
Designated Foreign Currency, the then outstanding Swing Line Foreign Currency
Loans and, to the extent applicable, the then outstanding L/C Obligations in
respect of any Foreign Backstop Letters of Credit on the date on which the
Parent Borrower has given the Administrative Agent a notice of borrowing with
respect to any Revolving Credit Loan for purposes of determining compliance
with this subsection).  During the
Revolving Credit Commitment Period each of the Borrowers may use the Revolving
Credit Commitments by borrowing, prepaying the Revolving Credit Loans in whole
or in part, and reborrowing, all in accordance with the terms and conditions
hereof.

 

(b)           The Revolving Credit Loans shall be
made in Dollars or any Designated Foreign Currency and may from time to time be
(i) Eurocurrency Loans, (ii) ABR Loans or (iii) a combination thereof, as
determined by the Parent Borrower and notified to the Administrative

 

38

 

Agent
in accordance with subsections 2.2 and 4.2, provided that no Revolving
Credit Loan shall be made as a Eurocurrency Loan after the day that is one
month prior to the Termination Date.

 

(c)           Each Borrower agrees that, upon the
request to the Administrative Agent by any Revolving Credit Lender made on or
prior to the Closing Date or in connection with any assignment pursuant to
subsection 11.6(b), in order to evidence such Lender’s Revolving Credit
Loans, such Borrower will execute and deliver to such Lender a promissory note
substantially in the form of Exhibit A-1, with appropriate insertions as to
payee, date and principal amount (each, as amended, supplemented, replaced or
otherwise modified from time to time, a “Revolving Credit Note”),
payable to the order of such Lender and in a principal amount equal to the
aggregate unpaid principal amount of all Revolving Credit Loans made by such
Revolving Credit Lender to such Borrower. 
Each Revolving Credit Note shall (i) be dated the Closing Date, (ii) be
stated to mature on the Termination Date and (iii) provide for the payment of
interest in accordance with subsection 4.1.

 

2.2.          Procedure
for Revolving Credit Borrowing. 
Each of the Borrowers may borrow under the Revolving Credit Commitments
during the Revolving Credit Commitment Period on any Business Day, provided
that the Parent Borrower (on behalf of itself or such other Borrower as the
case may be) shall give the Administrative Agent irrevocable notice (which
notice must be received by the Administrative Agent prior to (a) 12:30 P.M.,
New York City time, at least three Business Days prior to the requested
Borrowing Date, if all or any part of the requested Revolving Credit Loans are
to be initially Eurocurrency Loans made in Dollars, (b) 11:00 A.M., London
time, at least three Business Days prior to the requested Borrowing Date, if
all or any part of the requested Revolving Credit Loans are to be initially
Eurocurrency Loans made in any Designated Foreign Currency, or (c) 12:30 P.M.,
New York City time, at least one Business Day prior to the requested
Borrowing Date, for ABR Loans) specifying (i) the identity of the Borrower,
(ii) the amount to be borrowed, (iii) the requested Borrowing Date, (iv)
whether the borrowing is to be of Eurocurrency Loans, ABR Loans or a
combination thereof and (v) if the borrowing is to be entirely or partly of
Eurocurrency Loans, the respective amounts of each such Type of Loan, the
respective lengths of the initial Interest Periods therefor and, if the
Eurocurrency Loans in respect of such borrowing are to be made entirely or
partly in any Designated Foreign Currency, the Designated Foreign Currency
thereof.  All Revolving Credit Loans
incurred and/or maintained during the first and second weeks following the
Closing Date shall be incurred and/or maintained as ABR Loans (in the case of
Revolving Credit Loans denominated in Dollars) or as Eurocurrency Loans (in the
case of Loans made in Designated Foreign Currencies), with a one-week Interest
Period applicable thereto.  Each
borrowing under the Revolving Credit Commitments shall be in an amount equal to
(x) in the case of ABR Loans, except any ABR Loan to be used solely to pay a
like amount of outstanding Reimbursement Obligations or Swing Line Loans,
$2,000,000 or a whole multiple of $1,000,000 in excess thereof (or, if the then
Available Revolving Credit Commitments are (A) less than $2,000,000, $1,000,000
or a whole multiple thereof or (B) less than $1,000,000, such lesser amount)
and (y) in the case of Eurocurrency Loans (or, in the case of Eurocurrency
Loans to be made in any Designated Foreign Currency, the Dollar Equivalent of
the principal amount thereof shall be in an amount equal to), $5,000,000 or a
whole multiple of $1,000,000 in excess thereof.  Upon receipt of any such notice from the Parent Borrower, the
Administrative Agent shall promptly notify each Revolving Credit Lender
thereof.  Subject to the satisfaction of
the conditions precedent specified in subsection 6.2 (and
subsection 6.3 in the case of a Foreign Subsidiary

 

39

 

Borrower), each Revolving Credit Lender will make the amount of its pro
rata share of each borrowing of Revolving Credit Loans available to the
Administrative Agent for the account of the Borrower identified in such notice
at the office of the Administrative Agent specified in subsection 11.2
prior to 12:30 P.M. (or 10:00 A.M., in the case of the initial borrowing
hereunder), New York City time, or at such other office of the
Administrative Agent or at such other time as to which the Administrative Agent
shall notify such Revolving Credit Lender and the Parent Borrower reasonably in
advance of the Borrowing Date with respect thereto, on the Borrowing Date
requested by the Parent Borrower in Dollars or the applicable Designated
Foreign Currency and in funds immediately available to the Administrative
Agent.  Such borrowing will then be made
available to the Borrower identified in such notice by the Administrative Agent
crediting the account of such Borrower on the books of such office with the
aggregate of the amounts made available to the Administrative Agent by the
Revolving Credit Lenders and in like funds as received by the Administrative
Agent.

 

2.3.          Termination
or Reduction of Revolving Credit Commitments.  The Parent Borrower shall have the right,
upon not less than three Business Days’ notice to the Administrative Agent
(which will promptly notify the Lenders thereof), to terminate the Revolving
Credit Commitments or, from time to time, to reduce the amount of the Revolving
Credit Commitments; provided that no such termination or reduction shall
be permitted if, after giving effect thereto and to any prepayments of the
Revolving Credit Loans and Swing Line Loans made on the effective date thereof,
the aggregate principal amount of the Revolving Credit Loans and Swing Line
Loans then outstanding (including, without limitation, in the case of Revolving
Credit Loans and Swing Line Loans then outstanding in any Designated Foreign
Currency, the Dollar Equivalent of the aggregate principal amount thereof),
when added to the sum of the then outstanding L/C Obligations, would exceed the
Revolving Credit Commitments then in effect. 
Any such reduction shall be in an amount equal to $10,000,000 or a whole
multiple of $1,000,000 in excess thereof and shall reduce permanently the
Revolving Credit Commitments then in effect.

 

2.4.          Swing Line
Commitments.  (a)  Subject to the terms and conditions hereof,
the Swing Line Lender agrees to make swing line loans (individually, a “Swing
Line Loan”; collectively, the “Swing Line Loans”) to any of the
Borrowers from time to time during the Revolving Credit Commitment Period in an
aggregate principal amount at any one time outstanding not to exceed
$25,000,000 (provided that the Dollar Equivalent of the aggregate principal
amount at any one time outstanding of Foreign Currency Swing Line Loans shall
not exceed $5,000,000), provided that at no time may the sum of the then
outstanding Swing Line Loans, Revolving Credit Loans (including, without
limitation, in the case of Revolving Credit Loans and Swing Line Loans then
outstanding in any Designated Foreign Currency, the Dollar Equivalent of the
aggregate principal amount thereof) and L/C Obligations exceed the Revolving
Credit Commitments then in effect, provided, further, that the Swing Line Lender
shall not make any Swing Line Foreign Currency Loan if, after giving effect to
the making thereof, (x) the sum of the then outstanding Revolving Credit Loans
in Designated Foreign Currencies, the then outstanding Swing Line Foreign
Currency Loans and the then outstanding L/C Obligations in respect of Foreign
Backstop Letters of Credit would exceed $75,000,000 and (y) the aggregate
principal amount of Revolving Credit Loans and Swing Line Loans made to Foreign
Subsidiary Borrowers shall at no time exceed $25,000,000 (it being understood
and agreed that the Administrative Agent shall calculate the Dollar Equivalent
of the then outstanding Revolving

 

40

 

Credit Loans in any Designated Foreign Currency, the then outstanding
Swing Line Foreign Currency Loans and, to the extent applicable, the then
outstanding L/C Obligations in respect of any Foreign Backstop Letters of
Credit on the date the notice of borrowing of Swing Line Loans is given for
purposes of determining compliance with this subsection).  Amounts borrowed by any Borrower under this
subsection 2.4 may be repaid and, through but excluding the Termination
Date, reborrowed.  All Swing Line Loans
made to any Borrower shall be made in either (x) Dollars as ABR Loans and
shall not be entitled to be converted into Eurocurrency Loans or Swing Line
Foreign Currency Loans or (y) any Designated Foreign Currency selected by the
relevant Borrower, and shall be Swing Line Foreign Currency Loans and shall not
be entitled to be converted into Eurocurrency Loans or ABR Loans.  The Parent Borrower (on behalf of itself or
any other Borrower as the case may be) shall give the Swing Line Lender
irrevocable notice (which notice must be received by the Swing Line Lender prior
to (x) 12:00 Noon, New York City time, in the case of any Swing Line Loan
made in Dollars, and (y) 11:00 A.M., London time, in the case of any Swing Line
Foreign Currency Loans) on the requested Borrowing Date specifying (1) the
identity of the Borrower, (2) the currency of such Swing Line Loan (either
Dollars or the Designated Foreign Currency) and, in the case of Foreign
Currency Swing Line Loans, the Interest Period to be applicable thereto which
shall be a period contemplated by clause (a) of the definition of the term
“Interest Period”, and (3) the amount of the requested Swing Line Loan, which
shall be in a minimum amount of (or, in the case of Swing Line Foreign Currency
Loans, the Dollar Equivalent of the principal amount thereof shall be in an amount
equal to) $100,000 or whole multiples of $50,000 in excess thereof.  The proceeds of the Swing Line Loan will be
made available by the Swing Line Lender to the Borrower identified in such
notice at an office of the Swing Line Lender by crediting the account of such
Borrower at such office with such proceeds in Dollars or in the Designated
Foreign Currency specified in such notice.

 

(b)           Each of the Parent Borrower and any
Foreign Subsidiary Borrower agrees that, upon the request to the Administrative
Agent by the Swing Line Lender made on or prior to the Closing Date or in
connection with any assignment pursuant to subsection 11.6(b), in order to
evidence the Swing Line Loans such Borrower will execute and deliver to the
Swing Line Lender a promissory note substantially in the form of Exhibit A-2,
with appropriate insertions (as the same may be amended, supplemented, replaced
or otherwise modified from time to time, the “Swing Line Note”), payable
to the order of the Swing Line Lender and representing the obligation of such
Borrower to pay the amount of the Swing Line Commitment or, if less, the unpaid
principal amount of the Swing Line Loans made to such Borrower, with interest
thereon as prescribed in subsection 4.1. 
The Swing Line Note shall (i) be dated the Closing Date, (ii) be stated
to mature on the Termination Date and (iii) provide for the payment of interest
in accordance with subsection 4.1.

 

(c)           The Swing Line Lender, at any time
in its sole and absolute discretion may, and, at any time as there shall be a
Swing Line Loan outstanding for more than seven Business Days, the Swing Line
Lender shall, on behalf of the Borrower to which the Swing Line Loan has been
made (which hereby irrevocably directs and authorizes such Swing Line Lender to
act on its behalf), request (provided that such request shall be deemed
to have been automatically made upon the occurrence of an Event of Default
under subsection 9(f)) each Revolving Credit Lender, including the Swing
Line Lender (i) to make a Revolving Credit Loan as an ABR Loan in an amount
equal to such Revolving Credit Lender’s Revolving Credit

 

41

 

Commitment
Percentage of the principal amount of all Swing Line Loans made in Dollars and
(ii) with respect to all of the Swing Line Loans in any Designated Foreign
Currency, to make a Eurocurrency Loan in such Designated Foreign Currency and
having an Interest Period of one month (each, a “Mandatory Revolving Credit
Loan Borrowing”) in an amount equal to such Revolving Credit Lender’s
Revolving Credit Commitment Percentage of the principal amount of all of the
Swing Line Loans (collectively, the “Refunded Swing Line Loans”)
outstanding on the date such notice is given; provided that the
provisions of this subsection shall not affect the obligations of any
Borrower to prepay Swing Line Loans in accordance with the provisions of
subsection 4.4(d).  Unless the
Revolving Credit Commitments shall have expired or terminated (in which event
the procedures of paragraph (d) of this subsection 2.4 shall apply), each
Revolving Credit Lender hereby agrees to make the proceeds of its Revolving
Credit Loan (including, without limitation, any Eurocurrency Loan) available to
the Administrative Agent for the account of the Swing Line Lender at the office
of the Administrative Agent prior to 12:00 Noon, New York City time, in
funds immediately available on the Business Day next succeeding the date such
notice is given notwithstanding (i) that the amount of the Mandatory Revolving
Credit Loan Borrowing may not comply with the minimum amount for Revolving
Credit Loans otherwise required hereunder, (ii) whether any conditions
specified in Section 6 are then satisfied, (iii) whether a Default or an
Event of Default then exists, (iv) the date of such Mandatory Revolving Credit
Loan Borrowing and (v) the amount of the Revolving Credit Commitment of such,
or any other, Revolving Credit Lender at such time.  The proceeds of such Revolving Credit Loans (including without
limitation, any Eurocurrency Loan) shall be immediately applied to repay the
Refunded Swing Line Loans.

 

(d)           If the Revolving Credit Commitments
shall expire or terminate at any time while Swing Line Loans are outstanding,
each Revolving Credit Lender shall, at the option of the Swing Line Lender,
exercised reasonably, either (i) notwithstanding the expiration or termination
of the Revolving Credit Commitments, make a Revolving Credit Loan as an ABR
Loan or, in the case of Swing Line Foreign Currency Loans, as a Eurocurrency
Loan having an Interest Period of one month (which Revolving Credit Loan shall
be deemed a “Revolving Credit Loan” for all purposes of this Agreement and the
other Loan Documents) or (ii) purchase an undivided participating interest in
such Swing Line Loans, in either case in an amount equal to such Revolving
Credit Lender’s Revolving Credit Commitment Percentage determined on the date
of, and immediately prior to, expiration or termination of the Revolving Credit
Commitments of the aggregate principal amount of such Swing Line Loans; provided,
that in the event that any Mandatory Revolving Credit Loan Borrowing cannot for
any reason be made on the date otherwise required above (including, without
limitation, as a result of the commencement of a proceeding under any
bankruptcy, reorganization, dissolution, insolvency, receivership,
administration or liquidation or similar law with respect to any Borrower),
then each Revolving Credit Lender hereby agrees that it shall forthwith
purchase (as of the date the Mandatory Revolving Credit Loan Borrowing would
otherwise have occurred, but adjusted for any payments received from such
Borrower on or after such date and prior to such purchase) from the Swing Line
Lender such participations in such outstanding Swing Line Loans as shall be
necessary to cause such Revolving Credit Lenders to share in such Swing Line
Loans ratably based upon their respective Revolving Credit Commitment
Percentages, provided, further, that (x) all interest payable on
the Swing Line Loans shall be for the account of the Swing Line Lender until
the date as of which the respective participation is required to be purchased
and, to the extent attributable to the purchased participation, shall be
payable to the participant from and

 

42

 

after
such date and (y) at the time any purchase of participations pursuant to this
sentence is actually made, the purchasing Revolving Credit Lender shall be
required to pay the Swing Line Lender interest on the principal amount of the
participation purchased for each day from and including the day upon which the
Mandatory Revolving Credit Loan Borrowing would otherwise have occurred to but
excluding the date of payment for such participation, at the rate otherwise
applicable to Revolving Loans made as ABR Loans.  Each Revolving Credit Lender will make the proceeds of any
Revolving Credit Loan made pursuant to the immediately preceding sentence
available to the Administrative Agent for the account of the Swing Line Lender
at the office of the Administrative Agent prior to 12:00 Noon, New York
City time, in funds immediately available on the Business Day next succeeding
the date on which the Revolving Credit Commitments expire or terminate and in
the currency in which such Swing Line Loans were made.  The proceeds of such Revolving Credit Loans
shall be immediately applied to repay the Swing Line Loans outstanding on the
date of termination or expiration of the Revolving Credit Commitments.  In the event that the Revolving Credit Lenders
purchase undivided participating interests pursuant to the first sentence of
this paragraph (d), each Revolving Credit Lender shall immediately transfer to
the Swing Line Lender, in immediately available funds and in the currency in
which such Swing Line Loans were made, the amount of its participation and upon
receipt thereof the Swing Line Lender will deliver to such Revolving Credit
Lender a Swing Line Loan Participation Certificate dated the date of receipt of
such funds and in such amount.

 

(e)           Whenever, at any time after the
Swing Line Lender has received from any Revolving Credit Lender such Revolving
Credit Lender’s participating interest in a Swing Line Loan, the Swing Line
Lender receives any payment on account thereof (whether directly from the
Parent Borrower or any other Borrower in respect of such Swing Line Loan or
otherwise, including proceeds of Collateral applied thereto by the Swing Line
Lender), or any payment of interest on account thereof, the Swing Line Lender
will, if such payment is received prior to 1:00 P.M., New York City time
(or, in the case of Swing Line Foreign Currency Loans, London time), on a
Business Day, distribute to such Revolving Credit Lender its pro rata share
thereof prior to the end of such Business Day and otherwise, the Swing Line
Lender will distribute such payment on the next succeeding Business Day
(appropriately adjusted, in the case of interest payments, to reflect the
period of time during which such Revolving Credit Lender’s participating
interest was outstanding and funded); provided, however, that in
the event that such payment received by the Swing Line Lender is required to be
returned, such Revolving Credit Lender will return to the Swing Line Lender any
portion thereof previously distributed by the Swing Line Lender to it.

 

(f)            Each Revolving Credit Lender’s
obligation to make the Revolving Credit Loans and to purchase participating
interests with respect to Swing Line Loans in accordance with subsections
2.4(c) and 2.4(d) shall be absolute and unconditional and shall not be affected
by any circumstance, including without limitation (i) any set-off,
counterclaim, recoupment, defense or other right that such Revolving Credit
Lender or any of the Borrowers may have against the Swing Line Lender, any of
the Borrowers or any other Person for any reason whatsoever; (ii) the
occurrence or continuance of a Default or an Event of Default; (iii) any
adverse change in condition (financial or otherwise) of any of the Borrowers;
(iv) any breach of this Agreement or any other Loan Document by any of the
Borrowers, any other Loan Party or any other Revolving Credit Lender; (v) any
inability of any of the Borrowers to satisfy the conditions precedent to
borrowing set forth in this Agreement on the date upon which such

 

43

 

Revolving
Credit Loan is to be made or participating interest is to be purchased or (vi)
any other circumstance, happening or event whatsoever, whether or not similar
to any of the foregoing.

 

2.5.          Term Loans.  (a) 
Subject to the terms and conditions hereof, each Tranche B Dollar Term
Loan Lender severally agrees to make, in Dollars in a single draw on the
Closing Date, one or more term loans (each, a “Tranche B Dollar Term Loan”)
to the Parent Borrower in an aggregate principal amount not to exceed the
amount set forth opposite such Lender’s name in Schedule A under the
heading “Tranche B Dollar Term Loan Commitment”.  The Tranche B Dollar Term Loans may from time to time be (x)
Eurocurrency Loans in Dollars, (y) ABR Loans in Dollars or (z) a combination
thereof, as determined by the Parent Borrower and notified to the
Administrative Agent in accordance with subsections 2.7 and 4.2.  The portion of each Tranche B Dollar Term
Loan Lender’s Tranche B Dollar Term Loan Commitment which is not utilized on
the Closing Date shall be automatically and permanently cancelled.

 

(b)           Subject to the terms and conditions
hereof, each Tranche B Euro Term Loan Lender severally agrees to make, in Euros
in a single draw on the Closing Date, one or more term loans (each, a “Tranche
B Euro Term Loan” and, together with the Tranche B Dollar Term Loans, the “Tranche
B Term Loans”) to the Parent Borrower in an aggregate principal amount not
to exceed the amount set forth opposite such Lender’s name in Schedule A
under the heading “Tranche B Euro Term Loan Commitment”.  The Tranche B Euro Term Loans will be
Eurocurrency Loans in Euros.  The portion
of each Tranche B Euro Term Loan Lender’s Tranche B Euro Term Loan Commitment
which is not utilized on the Closing Date shall be automatically and
permanently cancelled.

 

2.6.          Tranche B Term Notes.  (a) (i) The Parent Borrower agrees that,
upon the request to the Administrative Agent by any Tranche B Dollar Term Loan
Lender made on or prior to the Closing Date or in connection with any
assignment pursuant to subsection 11.6(b), in order to evidence such
Lender’s Tranche B Dollar Term Loan, the Parent Borrower will execute and
deliver to such Lender a promissory note substantially in the form of Exhibit
A-3 (each, as amended, supplemented, replaced or otherwise modified from time
to time, a “Tranche B  Dollar Term Note”), with appropriate
insertions therein as to payee, date and principal amount, payable to the order
of such Tranche B Dollar Term Loan Lender and in a principal amount equal to
the unpaid principal amount of the Tranche B Dollar Term Loans made (or
acquired by assignment pursuant to subsection 11.6(b)) by such Tranche B
Dollar Term Loan Lender to the Parent Borrower.  Each Tranche B Dollar Term Note shall (x) be dated the Closing
Date, (y) be payable as provided in subsection 2.6(b)(i) and (z) provide
for the payment of interest in accordance with subsection 4.1.

 

(ii)           The Parent Borrower agrees that,
upon the request to the Administrative Agent by any Tranche B Euro Term Loan
Lender made on or prior to the Closing Date or in connection with any
assignment pursuant to subsection 11.6(b), in order to evidence such
Lender’s Tranche B Euro Term Loan, the Parent Borrower will execute and deliver
to such Lender a promissory note substantially in the form of Exhibit A-4
(each, as amended, supplemented, replaced or otherwise modified from time to
time, a “Tranche B Euro Term Note”), with appropriate insertions therein
as to payee, date and principal amount, payable to the order of such Tranche B
Euro Term Loan Lender and in a principal amount equal to the unpaid principal
amount of the Tranche B Euro Term Loans made (or acquired by assignment
pursuant

 

44

 

to
subsection 11.6(b)) by such Tranche B Euro Term Loan Lender to the Parent
Borrower.  Each Tranche B Euro Term Note
shall (x) be dated the Closing Date, (y) be payable as provided in
subsection 2.6(b)(ii) and (z) provide for the payment of interest in
accordance with subsection 4.1.

 

(b) (i)      The aggregate Tranche B Dollar Term
Loans of all the Tranche B Dollar Term Loan Lenders shall be payable in
consecutive annual installments up to and including April 7, 2010 and
thereafter in consecutive quarterly installments (in each case, subject to
reduction as provided in subsection 4.4), on the dates and in the
principal amounts, subject to adjustment as set forth below, equal to the
respective amounts set forth below (together with all accrued interest thereon)
opposite the applicable installment dates (or, if less, the aggregate amount of
the Tranche B Dollar Term Loans then outstanding):

 

	
  Date

  	
   

  	
  Amount

  	
   

  
	
  April 7, 2005

  	
   

  	
  $

  	
  4,150,000

  	
   

  
	
  April 7, 2006

  	
   

  	
  $

  	
  4,150,000

  	
   

  
	
  April 7, 2007

  	
   

  	
  $

  	
  4,150,000

  	
   

  
	
  April 7, 2008

  	
   

  	
  $

  	
  4,150,000

  	
   

  
	
  April 7, 2009

  	
   

  	
  $

  	
  4,150,000

  	
   

  
	
  April 7, 2010

  	
   

  	
  $

  	
  4,150,000

  	
   

  
	
  July 7, 2010

  	
   

  	
  $

  	
  97,525,000

  	
   

  
	
  October 7, 2010

  	
   

  	
  $

  	
  97,525,000

  	
   

  
	
  January 7, 2011

  	
   

  	
  $

  	
  97,525,000

  	
   

  
	
  Final Maturity Date

  	
   

  	
  $

  	
  97,525,000

  	
   

  

 

(ii)           The aggregate Tranche B Euro Term
Loans of all the Tranche B Euro Term Loan Lenders shall be payable in
consecutive annual installments up to and including April 7, 2010 and
thereafter in consecutive quarterly installments (in each case, subject to
reduction as provided in subsection 4.4), on the dates and in the
principal amounts, subject to adjustment as set forth below, equal to the
respective amounts set forth below (together with all accrued interest thereon)
opposite the applicable installment dates (or, if less, the aggregate amount of
the Tranche B Euro Term Loans then outstanding):

 

45

 

	
  Date

  	
   

  	
  Amount

  	
   

  
	
  April 7, 2005

  	
   

  	
   

  	
  €

  	
  1,450,000

  	
   

  
	
  April 7, 2006

  	
   

  	
   

  	
  €

  	
  1,450,000

  	
   

  
	
  April 7, 2007

  	
   

  	
   

  	
  €

  	
  1,450,000

  	
   

  
	
  April 7, 2008

  	
   

  	
   

  	
  €

  	
  1,450,000

  	
   

  
	
  April 7, 2009

  	
   

  	
   

  	
  €

  	
  1,450,000

  	
   

  
	
  April 7, 2010

  	
   

  	
   

  	
  €

  	
  1,450,000

  	
   

  
	
  July 7, 2010

  	
   

  	
   

  	
  €

  	
  34,075,000

  	
   

  
	
  October 7, 2010

  	
   

  	
   

  	
  €

  	
  34,075,000

  	
   

  
	
  January 7, 2011

  	
   

  	
   

  	
  €

  	
  34,075,000

  	
   

  
	
  Final Maturity Date

  	
   

  	
   

  	
  €

  	
  34,075,000

  	
   

  

 

2.7.          Procedure for
Term Loan Borrowing.  The
Parent Borrower shall give the Administrative Agent irrevocable notice (which
notice must be received by the Administrative Agent prior to 12:30 P.M.,
New York City time), at least (a) three Business Days prior to the Closing
Date, if all or any part of the Term Loans are to be initially Eurocurrency
Loans or (b) one Business Day prior to the Closing Date, otherwise, specifying
(i) the amount to be borrowed, (ii) whether the Term Loans are to be
initially Eurocurrency Loans, ABR Loans or a combination thereof and (iii) if
the Term Loans are to be entirely or partly Eurocurrency Loans, the respective
amounts of each such Type of Loan and the respective lengths of the initial
Interest Periods therefor.  All Term
Loans incurred and/or maintained during the first and second weeks following
the Closing Date shall be incurred and/or maintained as ABR Loans (in the case
of Tranche B Dollar Term Loans) or as Eurocurrency Loans with a one-week
Interest Period applicable thereto. 
Upon receipt of such notice the Administrative Agent shall promptly
notify each Term Loan Lender thereof. 
Each Term Loan Lender will make the amount of its pro rata share (based
on its Tranche B Dollar Term Loan Percentage or Tranche B Euro Term Loan
Percentage, as the case may be) of each Tranche of the Term Loans available to
the Administrative Agent for the account of the Parent Borrower at the office
of the Administrative Agent specified in subsection 11.2 prior to 10:00
A.M., New York City time, on the Closing Date in Dollars (in the case of
Tranche B Dollar Term Loans) or in Euros (in the case of Tranche B Euro Term
Loans) and in funds immediately available to the Administrative Agent.  The Administrative Agent shall on such date
credit the account of the Parent Borrower on the books of such office of the
Administrative Agent with the aggregate of the amounts made available to the
Administrative Agent by the Term Loan Lenders and in like funds as received by
the Administrative Agent.

 

2.8.          Repayment of
Loans.  (a)  Each Borrower hereby unconditionally
promises to pay to the Administrative Agent (in Dollars or, in the case of any
Revolving Credit Loan, Swing Line Loan or Term Loan denominated in a currency
other than Dollars, in the

 

46

 

respective Designated Foreign Currency in which such Loan is
denominated) for the account of:  (i)
each Revolving Credit Lender, the then unpaid principal amount of each
Revolving Credit Loan of such Lender made to such Borrower, on the Termination
Date (or such earlier date on which the Revolving Credit Loans become due and
payable pursuant to Section 9); (ii) the Swing Line Lender, the then
unpaid principal amount of the Swing Line Loans made to such Borrower, on the
Termination Date (or such earlier date on which the Swing Line Loans become due
and payable pursuant to Section 9); and (iii) in the case of the Parent
Borrower only, each Tranche B Term Loan Lender, the amounts specified in
subsection 2.6(b) (or, if less in any case, the aggregate amount of the
Tranche B Term Loans made to the Parent Borrower then outstanding), on the
dates set forth in subsection 2.6(b) (or such earlier date on which the Tranche
B Term Loans become due and payable pursuant to Section 9).  Each Borrower hereby further agrees to pay
interest (which payments shall be in the same currency in which the respective
Loan is denominated) on the unpaid principal amount of the Loans from time to time
outstanding from the date hereof until payment in full thereof at the rates per
annum, and on the dates, set forth in subsection 4.1.

 

(b)           Each Lender (including the Swing
Line Lender) shall maintain in accordance with its usual practice an account or
accounts evidencing indebtedness of the each of the Borrowers to such Lender
resulting from each Loan of such Lender from time to time, including, without
limitation, the amounts of principal and interest payable and paid to such
Lender from time to time under this Agreement.

 

(c)           The Administrative Agent shall
maintain the Register pursuant to subsection 11.6(b), and a subaccount
therein for each Lender, in which shall be recorded (i) the amount of each Loan
made hereunder, the Type thereof and each Interest Period, if any, applicable
thereto, (ii) the amount of any principal or interest due and payable or to
become due and payable from each of the Borrowers to each Lender hereunder and
(iii) both the amount of any sum received by the Administrative Agent hereunder
from each of the Borrowers and each Lender’s share thereof.

 

(d)           The entries made in the Register and
the accounts of each Lender maintained pursuant to subsection 2.8(b)
shall, to the extent permitted by applicable law, be prima facie evidence of
the existence and amounts of the obligations of each of the Borrowers therein
recorded; provided, however, that the failure of any Lender or
the Administrative Agent to maintain the Register or any such account, or any
error therein, shall not in any manner affect the obligation of the any
Borrower to repay (with applicable interest) the Loans made to such Borrower by
such Lender in accordance with the terms of this Agreement.

 

SECTION 3.           LETTERS OF CREDIT.

 

3.1.          L/C Commitment. 
(a)  Subject to the terms and
conditions hereof, each Issuing Lender, in reliance on the agreements of the
other Revolving Credit Lenders set forth in subsection 3.4(a), agrees to
continue under this Agreement the Existing Letters of Credit and issue letters
of credit (the letters of credit issued on and after the Closing Date pursuant
to this Section 3, together with the Existing Letters of Credit,
collectively, the “Letters of Credit”) for the account of the Parent
Borrower on any Business Day during the Revolving Credit Commitment Period but
in no event later than the 30th day prior to the Termination Date in
such

 

47

 

form as may be approved from time to time by the Issuing Lender; provided
that the Issuing Lender shall not issue any Letter of Credit if, after giving
effect to such issuance, (i) the sum of the Dollar Equivalent of the then
outstanding Revolving Credit Loans in any Designated Foreign Currency, the then
outstanding Swing Line Foreign Currency Loans and the then outstanding L/C
Obligations in respect of any Foreign Backstop Letters of Credit would exceed
$75,000,000 (it being understood and agreed that the Administrative Agent shall
calculate the Dollar Equivalent of the then outstanding Revolving Credit Loans
in any Designated Foreign Currency, the then outstanding Swing Line Foreign
Currency Loans and, to the extent applicable, the then outstanding L/C
Obligations in respect of any Foreign Backstop Letters of Credit on the date on
which the Parent Borrower has requested that the Issuing Lender issue a Letter
of Credit for purposes of determining compliance with this clause (i)), (ii)
the L/C Obligations in respect of Letters of Credit would exceed $70,000,000 or
(iii) the Aggregate Outstanding Revolving Credit of all the Revolving Credit
Lenders would exceed the Revolving Credit Commitments of all the Revolving
Credit Lenders then in effect.  Each
Letter of Credit shall (i) be denominated in Dollars or, in the case of any
Foreign Backstop Letters of Credit, in Dollars or any other Designated Foreign
Currency requested by the Parent Borrower and shall be either (A) a standby
letter of credit issued to support obligations of the Parent Borrower or any of
its Subsidiaries, contingent or otherwise, which finance the working capital
and business needs of the Parent Borrower and its Subsidiaries incurred in the
ordinary course of business (a “Standby Letter of Credit”), or (B) a
commercial letter of credit in respect of the purchase of goods or services by
the Parent Borrower or any of its Subsidiaries in the ordinary course of
business (a “Commercial Letter of Credit”), and (ii) unless otherwise
agreed by the Administrative Agent, expire no later than the earlier of (A) one
year after its date of issuance and (B) the 10th day prior to the
Termination Date, in the case of Standby Letters of Credit, or (A) 180 days
after its date of issuance and (B) the 30th day prior to the
Termination Date, in the case of Commercial Letters of Credit.  Each Letter of Credit shall be deemed to constitute
a utilization of the Revolving Loan Commitments and shall be participated in
(as more fully described in following subsection 3.4) by the Revolving
Credit Lenders in accordance with their respective Revolving Credit Commitment
Percentages.  All Letters of Credit
shall be denominated in Dollars or in the respective Designated Foreign
Currency requested by the Parent Borrower and shall be issued for the account
of the Parent Borrower.

 

(b)           Unless otherwise agreed by the
Issuing Lender and the Parent Borrower, each Letter of Credit shall be subject
to the Uniform Customs and, to the extent not inconsistent therewith, the laws
of the State of New York.  All
Letters of Credit shall be issued on a sight basis only.

 

(c)           The Issuing Lender shall not at any time
issue any Letter of Credit hereunder if such issuance would conflict with, or
cause the Issuing Lender or any L/C Participant to exceed any limits imposed
by, any applicable Requirement of Law.

 

3.2.          Procedure
for Issuance of Letters of Credit.  (a)  The Parent Borrower
may from time to time request during the Revolving Credit Commitment Period but
in no event later than the 30th day prior to the Termination Date
that the Issuing Lender issue a Letter of Credit by delivering to the Issuing
Lender and the Administrative Agent, at their respective addresses for notices
specified herein, a Letter of Credit Request therefor in the form Exhibit K
hereto (completed to the reasonable satisfaction of the Issuing Lender), and
such other certificates,

 

48

 

documents and other papers and information as the Issuing Lender may
reasonably request.  Each Letter of
Credit Request shall specify the Designated Foreign Currency in which the
requested Letter of Credit is to be denominated (or specify that the requested
Letter of Credit is to be denominated in Dollars).  Upon receipt of any Letter of Credit Request, the Issuing Lender
will process such Letter of Credit Request and the certificates, documents and
other papers and information delivered to it in connection therewith in
accordance with its customary procedures and shall promptly issue the Letter of
Credit requested thereby (but in no event shall the Issuing Lender be required
to issue any Letter of Credit earlier than three Business Days after its
receipt of the Letter of Credit Request therefor and all such other
certificates, documents and other papers and information relating thereto) by
issuing the original of such Letter of Credit to the beneficiary thereof or as
otherwise may be agreed by the Issuing Lender and the Parent Borrower.  The Issuing Lender shall furnish a copy of
such Letter of Credit to the Parent Borrower promptly following the issuance
thereof.  Promptly after the issuance or
amendment of any Standby Letter of Credit, the Issuing Lender shall notify the
Parent Borrower and the Administrative Agent, in writing, of such issuance or
amendment and such notice shall be accompanied by a copy of such issuance or
amendment. Upon receipt of such notice, the Administrative Agent, shall
promptly notify the Lenders, in writing, of such issuance or amendment, and if
so requested by a Lender the Administrative Agent shall provide to such Lender
copies of such issuance or amendment. With regards to Commercial Letters of
Credit, the Issuing Lender shall on the first Business Day of each week provide
the Administrative Agent, by facsimile, with a report detailing the aggregate
daily outstanding Commercial Letters of Credit during the previous week.

 

(b)           The making of each request for a
Letter of Credit by the Parent Borrower shall be deemed to be a representation
and warranty by the Parent Borrower that such Letter of Credit may be issued in
accordance with, and will not violate the requirements of, subsection 3.1.  Unless the respective Issuing Lender has
received notice from the Required Lenders before it issues a Letter of Credit
that one or more of the applicable conditions specified in Section 6 are
not then satisfied, or that the issuance of such Letter of Credit would violate
subsection 3.1, then such Issuing Lender may issue the requested Letter of
Credit for the account of the Parent Borrower in accordance with such Issuing
Lender’s usual and customary practices.

 

3.3.          Fees, Commissions
and Other Charges.  (a)  The Parent Borrower agrees to pay to the
Administrative Agent, for the account of the relevant Issuing Lender and the
L/C Participants, a letter of credit commission with respect to each Letter of
Credit issued by such Issuing Lender, computed for the period from and
including the date of issuance of such Letter of Credit through to the
expiration date of such Letter of Credit, computed at a rate per annum equal to
the Applicable Margin then in effect for Eurocurrency Loans that are Revolving
Credit Loans calculated on the basis of a 365- (or 366-, as the case may be)
day year, of the aggregate amount available to be drawn under such Letter of
Credit, payable quarterly in arrears on each L/C Fee Payment Date with respect
to such Letter of Credit and on the Termination Date or such earlier date as
the Revolving Credit Commitments shall terminate as provided herein. Such
commission shall be payable to the Administrative Agent for the account of the
Revolving Credit Lenders to be shared ratably among them in accordance with
their respective Revolving Credit Commitment Percentages.  The Parent Borrower shall pay to the
Administrative Agent for the account of the relevant Issuing Lender a fee equal
to 1/4 of 1% per annum (but in no event less than $500 per annum for each
Letter of Credit) of the aggregate amount available to be drawn

 

49

 

under such Letter of Credit, payable quarterly in arrears on each L/C
Fee Payment Date with respect to such Letter of Credit and on the Termination
Date or such other date as the Revolving Credit Commitments shall
terminate.  Such commissions and fees
shall be nonrefundable.  Such fees and
commissions shall be payable in Dollars, notwithstanding that a Letter of
Credit may be denominated in any Designated Foreign Currency.  In respect of a Letter of Credit denominated
in any Designated Foreign Currency, such fees and commissions shall be
converted into Dollars at the Spot Rate of Exchange on the date on which they
are paid (or, if such date is not a Business Day, at the Spot Rate of Exchange
on the Business Day next preceding such date).

 

(b)           In addition to the foregoing
commissions and fees, the Parent Borrower agrees to pay or reimburse the
Issuing Lender for such normal and customary costs and expenses as are incurred
or charged by the Issuing Lender in issuing, effecting payment under, amending
or otherwise administering any Letter of Credit issued by such Issuing Lender.

 

(c)           The Administrative Agent shall,
promptly following its receipt thereof, distribute to the Issuing Lender and
the L/C Participants all commissions and fees received by the Administrative
Agent for their respective accounts pursuant to this subsection 3.3.

 

3.4.          L/C Participations. 
(a)  The Issuing Lender irrevocably
agrees to grant and hereby grants to each L/C Participant, and, to induce the
Issuing Lender to issue Letters of Credit hereunder, each L/C Participant
irrevocably agrees to accept and purchase and hereby accepts and purchases from
the Issuing Lender, without recourse or warranty, on the terms and conditions
hereinafter stated, for such L/C Participant’s own account and risk an
undivided interest equal to such L/C Participant’s Revolving Credit Commitment
Percentage (determined on the date of issuance of the relevant Letter of
Credit) in the Issuing Lender’s obligations and rights under each Letter of
Credit issued or continued hereunder, the amount of each draft paid by the
Issuing Lender thereunder and the obligations of the Parent Borrower under this
Agreement with respect thereto (although Letter of Credit fees and commissions
shall be payable directly to the Administrative Agent for the account of the
Issuing Lender and L/C Participants, as provided in subsection 3.3 and the
L/C Participants shall have no right to receive any portion of any facing fees
with respect to any such Letters of Credit) and any security therefor or
guaranty pertaining thereto.  Each L/C
Participant unconditionally and irrevocably agrees with the Issuing Lender
that, if a draft is paid under any Letter of Credit for which the Issuing
Lender is not reimbursed in full by the Parent Borrower in respect of such
Letter of Credit in accordance with subsection 3.5(a), such L/C
Participant shall pay to the Issuing Lender upon demand (which demand, in the
case of any demand made in respect of any draft under a Letter of Credit
denominated in any Designated Foreign Currency, shall not be made prior to the
date that the amount of such draft shall be converted into Dollars in
accordance with subsection 3.5(a)) at the Issuing Lender’s address for
notices specified herein an amount equal to such L/C Participant’s Revolving
Credit Commitment Percentage of the amount of such draft, or any part thereof,
which is not so reimbursed; provided that nothing in this paragraph
shall relieve the Issuing Lender of any liability resulting from the gross
negligence or willful misconduct of the Issuing Lender, or otherwise affect any
defense or other right that any L/C Participant may have as a result of such
gross negligence or willful misconduct. 
All calculations of the L/C Participants’ Revolving Credit Commitment
Percentages shall be made from time to time by the Administrative Agent, which
calculations shall be conclusive absent manifest error.

 

50

 

(b)           If any amount required to be paid by
any L/C Participant to the Issuing Lender on demand by the Issuing Lender
pursuant to subsection 3.4(a) in respect of any unreimbursed portion of
any payment made by the Issuing Lender under any Letter of Credit is paid to
the Issuing Lender within three Business Days after the date such demand is
made, such L/C Participant shall pay to the Issuing Lender on demand an amount
equal to the product of such amount, times the daily average Federal Funds
Effective Rate during the period from and including the date such payment is
required to the date on which such payment is immediately available to the
Issuing Lender, times a fraction the numerator of which is the number of days
that elapse during such period and the denominator of which is 360.  If any such amount required to be paid by
any L/C Participant pursuant to subsection 3.4(a) is not in fact made
available to the Issuing Lender by such L/C Participant within three Business
Days after the date such payment is due, the Issuing Lender shall be entitled
to recover from such L/C Participant, on demand, such amount with interest
thereon (with interest based on the Dollar Equivalent of any amounts
denominated in Designated Foreign Currencies) calculated from such due date at
the rate per annum applicable to Revolving Credit Loans maintained as ABR Loans
hereunder.  A certificate of the Issuing
Lender submitted to any L/C Participant with respect to any amounts owing under
this subsection (which shall include calculations of any such amounts in
reasonable detail) shall be conclusive in the absence of manifest error.

 

(c)           Whenever, at any time after the
Issuing Lender has made payment under any Letter of Credit and has received from
any L/C Participant its pro rata share of such payment in accordance with
subsection 3.4(a), the Issuing Lender receives any payment related to such
Letter of Credit (whether directly from the Parent Borrower in respect of such
Letter of Credit or otherwise, including proceeds of Collateral applied thereto
by the Issuing Lender), or any payment of interest on account thereof, the
Issuing Lender will, if such payment is received prior to 1:00 P.M.,
New York City time, on a Business Day, distribute to such L/C Participant
its pro rata share thereof prior to the end of such Business Day and otherwise
the Issuing Lender will distribute such payment on the next succeeding Business
Day; provided, however, that in the event that any such payment
received by the Issuing Lender shall be required to be returned by the Issuing
Lender, such L/C Participant shall return to the Issuing Lender the portion
thereof previously distributed by the Issuing Lender to it.

 

3.5.          Reimbursement
Obligation of the Parent Borrower.  (a)  The Parent Borrower
hereby agrees to reimburse the Issuing Lender, upon receipt by the Parent
Borrower of notice from the Issuing Lender of the date and amount of a draft
presented under any Letter of Credit and paid by the Issuing Lender, for the
amount of such draft so paid and any taxes, fees, charges or other costs or
expenses reasonably incurred by the Issuing Lender in connection with such
payment.  Each such payment shall be
made to the Issuing Lender, at its address for notices specified herein in the
currency in which such Letter of Credit is denominated (except that, in the
case of any Letter of Credit denominated in any Designated Foreign Currency, in
the event that such payment is not made to the Issuing Lender within three
Business Days of the date of receipt by the Parent Borrower of such notice,
upon notice by the Issuing Lender to the Parent Borrower, such payment shall be
made in Dollars, in an amount equal to the Dollar Equivalent of the amount of
such payment converted on the date of such notice into Dollars at the Spot Rate
of Exchange on such date) and in immediately available funds, on the date on
which the Parent Borrower receives such notice, if received prior to 11:00
A.M., New York City time, on a Business Day and otherwise on the next
succeeding Business Day.  Any conversion
by the

 

51

 

Issuing Lender of any payment to be made in respect of any Letter of
Credit denominated in any Designated Foreign Currency into Dollars in accordance
with this subsection 3.5(a) shall be conclusive and binding upon the
Parent Borrower and the Revolving Credit Lenders in the absence of manifest
error; provided that upon the request of the Parent Borrower or any
Revolving Credit Lender, the Issuing Lender shall provide to the Parent
Borrower or Revolving Credit Lender a certificate including reasonably detailed
information as to the calculation of such conversion.

 

(b)           Interest shall be payable on any and
all amounts remaining unpaid (taking the Dollar Equivalent of any amounts
denominated in any Designated Foreign Currency, as determined by the
Administrative Agent) by the Parent Borrower under this subsection 3.5 (i)
from the date the draft presented under the affected Letter of Credit is paid to
the date on which the Parent Borrower is required to pay such amounts pursuant
to paragraph (a) above at the rate which would then be payable on any
outstanding ABR Loans that are Revolving Credit Loans and (ii) thereafter until
payment in full at the rate which would be payable on any outstanding ABR Loans
that are Revolving Credit Loans which were then overdue.

 

3.6.          Obligations
Absolute.  (a)  The Parent Borrower’s obligations under this
Section 3 shall be absolute and unconditional under any and all circumstances
and irrespective of any set-off, counterclaim or defense to payment which the
Parent Borrower may have or have had against the Issuing Lender, any L/C
Participant or any beneficiary of a Letter of Credit, provided that this
paragraph shall not relieve the Issuing Lender or any L/C Participant of any
liability resulting from the gross negligence or willful misconduct of the
Issuing Lender or such L/C Participant, or otherwise affect any defense or
other right that the Parent Borrower may have as a result of any such gross
negligence or willful misconduct.

 

(b)           The Parent Borrower and each Lender
also agrees with the Issuing Lender that the Issuing Lender and the L/C
Participants shall not be responsible for, and the Parent Borrower’s
Reimbursement Obligations under subsection 3.5(a) shall not be affected
by, among other things, the validity or genuineness of documents or of any
endorsements thereon, even though such documents shall in fact prove to be
invalid, fraudulent or forged, or any dispute between or among the Parent
Borrower and any beneficiary of any Letter of Credit or any other party to
which such Letter of Credit may be transferred or any claims whatsoever of the
Parent Borrower against any beneficiary of such Letter of Credit or any such transferee,
provided that this paragraph shall not relieve the Issuing Lender or any
L/C Participant of any liability resulting from the gross negligence or willful
misconduct of the Issuing Lender or such L/C Participant, or otherwise affect
any defense or other right that the Parent Borrower may have as a result of any
such gross negligence or willful misconduct.

 

(c)           Neither the Issuing Lender nor any
L/C Participant shall be liable for any error, omission, interruption or delay
in transmission, dispatch or delivery of any message or advice, however
transmitted, in connection with any Letter of Credit, except for errors or
omissions caused by such Person’s gross negligence or willful misconduct.

 

(d)           The Parent Borrower agrees that any
action taken or omitted by the Issuing Lender under or in connection with any
Letter of Credit or the related drafts or documents, if done in the absence of
gross negligence or willful misconduct and in accordance

 

52

 

with
the standards of care specified in the Uniform Commercial Code of the State of
New York, shall be binding on the Parent Borrower and shall not result in
any liability of the Issuing Lender or any L/C Participant to the Parent
Borrower.

 

3.7.          Letter of
Credit Payments.  If any draft
shall be presented for payment under any Letter of Credit, the Issuing Lender
shall promptly notify the Parent Borrower of the date and amount thereof.  The responsibility of the Issuing Lender to
the Parent Borrower in respect of any Letter of Credit in connection with any
draft presented for payment under such Letter of Credit shall, in addition to
any payment obligation expressly provided for in such Letter of Credit, be
limited to determining that the documents (including each draft) delivered
under such Letter of Credit in connection with such presentment are in
conformity with such Letter of Credit, provided that this paragraph
shall not relieve the Issuing Lender of any liability resulting from the gross
negligence or willful misconduct of the Issuing Lender, or otherwise affect any
defense or other right that the Parent Borrower may have as a result of any
such gross negligence or willful misconduct.

 

3.8.          Letter of Credit Request.  To the extent that any provision of any
Letter of Credit Request related to any Letter of Credit is inconsistent with
the provisions of this Section 3, the provisions of this Section 3
shall apply.

 

3.9.          Additional
Issuing Lenders.  The Parent
Borrower may, at any time and from time to time with the consent of the
Administrative Agent (which consent shall not be unreasonably withheld) and
such Lender, designate one or more additional Lenders to act as an issuing
lender under the terms of this Agreement. 
Any Lender designated as an issuing bank pursuant to this
subsection 3.9 shall be deemed to be an “Issuing Lender” (in addition to
being a Lender) in respect of Letters of Credit issued or to be issued by such
Lender, and, with respect to such Letters of Credit, such term shall thereafter
apply to the other Issuing Lender or Issuing Lenders and such Lender.

 

SECTION 4.           GENERAL PROVISIONS
APPLICABLE TO LOANS AND LETTERS OF CREDIT.

 

4.1.          Interest Rates
and Payment Dates. 
(a)  Each Eurocurrency Loan shall bear interest for each day
during each Interest Period with respect thereto at a rate per annum equal to
the Eurocurrency Rate determined for such day plus the Applicable Margin in
effect for such day.

 

(b)           Each ABR Loan shall bear interest
for each day that it is outstanding at a rate per annum equal to the ABR for
such day plus the Applicable Margin in effect for such day.  Each Swing Line Foreign Currency Loan shall
bear interest for each day during each Interest Period with respect thereto at
a rate per annum equal to the Swing Line Foreign Currency Rate for such day
plus 1.50% per annum plus the Applicable Margin in effect for such day for
Eurocurrency Loans that are Revolving Credit Loans.

 

(c)           If all or a portion of (i) the
principal amount of any Loan, (ii) any interest payable thereon or (iii) any
commitment fee, letter of credit commission, letter of credit fee or other
amount payable hereunder shall not be paid when due (whether at the stated
maturity, by

 

53

 

acceleration or otherwise), such overdue amount
shall bear interest at a rate per annum which is (x) in the case of overdue
principal, the rate that would otherwise be applicable thereto pursuant to the
relevant foregoing provisions of this subsection plus 2.00%, (y) in the
case of overdue interest, the rate that would be otherwise applicable to
principal of the related Loan pursuant to the relevant foregoing provisions of
this subsection (other than clause (x) above) plus 2.00% and (z) in the
case of, fees, commissions or other amounts, the rate described in paragraph
(b) of this subsection for ABR Loans that are Revolving Credit Loans plus
2.00%, in each case from the date of such non-payment until such amount is paid
in full (as well after as before judgment).

 

(d)           Interest shall be payable in arrears
on each Interest Payment Date, provided that interest accruing pursuant
to paragraph (c) of this subsection shall be payable from time to time on
demand.

 

(e)           It is the intention of the parties
hereto to comply strictly with applicable usury laws; accordingly, it is
stipulated and agreed that the aggregate of all amounts which constitute
interest under applicable usury laws, whether contracted for, charged, taken,
reserved, or received, in connection with the indebtedness evidenced by this
Agreement or any Notes, or any other document relating or referring hereto or
thereto, now or hereafter existing, shall never exceed under any circumstance
whatsoever the maximum amount of interest allowed by applicable usury laws.

 

4.2.          Conversion
and Continuation Options. 
(a)  The Parent Borrower may elect from time to time to
convert outstanding Term Loans and Revolving Credit Loans from Eurocurrency
Loans made or outstanding in Dollars to ABR Loans by giving the Administrative
Agent at least two Business Days’ prior irrevocable notice of such election, provided
that any such conversion of Eurocurrency Loans made or outstanding in Dollars
may only be made on the last day of an Interest Period with respect
thereto.  The Parent Borrower may elect
from time to time to convert outstanding Term Loans and Revolving Credit Loans
made or outstanding in Dollars from ABR Loans to Eurocurrency Loans outstanding
in Dollars by giving the Administrative Agent at least three Business Days’
prior irrevocable notice of such election. 
Any such notice of conversion to Eurocurrency Loans outstanding in
Dollars shall specify the length of the initial Interest Period or Interest
Periods therefor.  Upon receipt of any
such notice the Administrative Agent shall promptly notify each affected Lender
thereof.  All or any part of outstanding
Eurocurrency Loans made or outstanding in Dollars and ABR Loans may be
converted as provided herein, provided that (i) (unless the Required
Lenders otherwise consent) no Loan may be converted into a Eurocurrency Loan
when any Default or Event of Default has occurred and is continuing and, in the
case of any Default, the Administrative Agent has given notice to the Parent
Borrower that no such conversions may be made and (ii) no Loan may be converted
into a Eurocurrency Loan after the date that is one month prior to either the
Termination Date (in the case of conversions of Revolving Credit Loans) or the
Final Maturity Date (in the case of Term Loans).

 

(b)           Any
Eurocurrency Loan may be continued as such upon the expiration of the then
current Interest Period with respect thereto by the Parent Borrower giving
notice to the Administrative Agent of the length of the next Interest Period to
be applicable to such Loan, determined in accordance with the applicable provisions
of the term “Interest Period” set forth in subsection 1.1, provided
that no Eurocurrency Loan may be continued as such (i) (unless the

 

54

 

Required Lenders otherwise consent) when any Default or Event of
Default has occurred and is continuing and, in the case of any Default, the
Administrative Agent has given notice to the Parent Borrower that no such
continuations may be made or (ii) after the date that is one month prior to
either the Termination Date (in the case of continuations of Revolving Credit
Loans) or the Final Maturity Date (in the case of continuations of Term Loans),
and provided, further, that (A) in the case of Eurocurrency Loans
made or outstanding in Dollars, if the Parent Borrower shall fail to give any
required notice as described above in this paragraph or if such continuation is
not permitted pursuant to the preceding proviso such Eurocurrency Loans shall
be automatically converted to ABR Loans on the last day of such then expiring
Interest Period and (B) in case of Eurocurrency Loans made or outstanding
in any Designated Foreign Currency, if the Parent Borrower shall fail to give
any required notice as described above in this paragraph or if such
continuation is not permitted pursuant to clause (i) of the preceding proviso,
such Eurocurrency Loans will be continued for the shortest available Interest
Periods as determined by the Administrative Agent.  Upon receipt of any such notice of continuation pursuant to this
subsection 4.2(b), the Administrative Agent shall promptly notify each
affected Lender thereof.

 

4.3.          Minimum Amounts
of Sets.  All borrowings,
conversions and continuations of Loans hereunder and all selections of Interest
Periods hereunder shall be in such amounts and be made pursuant to such
elections so that, after giving effect thereto, the aggregate principal amount
of the Eurocurrency Loans outstanding in Dollars comprising each Set shall be
equal to $5,000,000 or a whole multiple of $1,000,000 in excess thereof, the
Dollar Equivalent of the aggregate principal amount of the Eurocurrency Loans
outstanding in any Designated Foreign Currency comprising each Set shall be
equal to $5,000,000 or a whole multiple of $1,000,000 in excess thereof and so
that there shall not be more than 15 Sets at any one time outstanding.

 

4.4.          Optional and
Mandatory Prepayments. 
(a)  Each of the Borrowers may at any time and from time to
time prepay the Loans made to it and the Reimbursement Obligations in respect
of Letters of Credit issued for its account, in whole or in part, subject to
subsection 4.12, without premium or penalty, upon at least three Business
Days’ irrevocable notice by the Parent Borrower to the Administrative Agent (in
the case of Eurocurrency Loans outstanding in Dollars or any Designated Foreign
Currency and Reimbursement Obligations outstanding in any Designated Foreign
Currency), at least one Business Day’s irrevocable notice by the Parent
Borrower to the Administrative Agent (in the case of (x) ABR Loans other
than Swing Line Loans outstanding in Dollars, (y) Reimbursement
Obligations outstanding in Dollars and (z) any Swing Line Loans
outstanding in any Designated Foreign Currency) or same-day irrevocable notice
by the Parent Borrower to the Administrative Agent (in the case of Swing Line
Loans outstanding in Dollars), specifying, in the case of any prepayment of
Loans, the identity of the prepaying Borrower, the date and amount of
prepayment and whether the prepayment is (i) of Tranche B Dollar Term Loans,
Tranche B Euro Term Loans, Revolving Credit Loans or Swing Line Loans, or a
combination thereof, and (ii) of Eurocurrency Loans, Swing Line Foreign
Currency Loans, ABR Loans or a combination thereof, and, in each case if a
combination thereof, the principal amount allocable to each and, in the case of
any prepayment of Reimbursement Obligations, the date and amount of prepayment,
the identity of the applicable Letter of Credit or Letters of Credit and the
amount allocable to each of such Reimbursement Obligations.  Upon the receipt of any such notice the
Administrative Agent shall promptly notify each affected Lender thereof.  If any such notice is given, the amount
specified in such notice

 

55

 

shall be due and payable on the date specified therein, together with
(if a Eurocurrency Loan or Swing Line Foreign Currency Loan is prepaid other
than at the end of the Interest Period applicable thereto) any amounts payable
pursuant to subsection 4.12 and, in the case of prepayments of the Term
Loans only, accrued interest to such date on the amount prepaid.  Partial prepayments of (i) the Term Loans
pursuant to this subsection (x) shall be made pro rata between the Term
Loans according to the respective outstanding principal amounts thereof (i.e.,
each Tranche of outstanding Term Loans shall be required to be prepaid on a pro
rata basis) and (y) shall be applied pro rata to the respective installments of
principal thereof, provided that notwithstanding clauses (x) and (y) above,
any such partial prepayment may, at the option of the Parent Borrower, be first
allocated to the Term Loans pro rata based upon the aggregate amount of the
installments thereof due in the next twelve months and then applied, at the
option of the Parent Borrower, against any of such installments of the Term
Loans, and, thereafter, the remainder of such partial prepayment shall be
allocated and applied as provided in clauses (x) and (y) above, and (ii) the
Revolving Credit Loans and the Reimbursement Obligations pursuant to this
subsection shall (unless the Parent Borrower otherwise directs) be
applied, first, to payment of the Swing Line Loans then outstanding, second,
to payment of the Revolving Credit Loans then outstanding, third, to
payment of any Reimbursement Obligations then outstanding and, last, to
cash collateralize any outstanding L/C Obligation on terms reasonably
satisfactory to the Administrative Agent; provided, further, than
any pro rata calculations required to be made pursuant to this subsection 4.4(a)
in respect to any Loan denominated in a Designated Foreign Currency shall be
made on a Dollar Equivalent basis. 
Partial prepayments pursuant to this subsection 4.4(a) shall be in
an aggregate principal amount of $5,000,000 or a whole multiple of $1,000,000
in excess thereof (or, in the case of Eurocurrency Loans outstanding in any
Designated Foreign Currency or Swing Line Foreign Currency Loans, the Dollar
Equivalent of an aggregate principal amount of at least approximately
$5,000,000), provided that, notwithstanding the foregoing, any Loan may be
prepaid in its entirety.

 

(b)           If on or after the Closing Date (i)
the Parent Borrower or any of its Subsidiaries shall incur Indebtedness for
borrowed money (other than Indebtedness permitted pursuant to
subsection 8.2, except as otherwise specified in subsection 8.2)
pursuant to a public offering or private placement or otherwise, (ii) the
Parent Borrower or any of its Subsidiaries shall make an Asset Sale pursuant to
subsection 8.6(i), (iii) a Recovery Event occurs or (iv) the Parent
Borrower or any of its Subsidiaries shall enter into a Sale and Leaseback
Transaction, then, in each case, the Borrowers shall prepay, in accordance with
subsection 4.4(f), the Loans and cash collateralize the L/C Obligations in
an amount equal to: (x) in the case of the incurrence of any such Indebtedness,
100% of the Net Cash Proceeds thereof minus any Permitted Acquisition Amount;
(y) in the case of any such Asset Sale or Recovery Event, 100% of the Net Cash
Proceeds thereof minus any Reinvested Amounts; and (z) in the case of any such
Sale and Leaseback Transaction, 100% of the Net Cash Proceeds thereof, in each
case with such prepayment to be made on the Business Day following the date of
receipt of any such Net Cash Proceeds except that, in the case of clause (x),
if any such Net Cash Proceeds are eligible to be used to pay the cash
consideration for an acquisition permitted by subsection 8.10(b) in
accordance with the definition of the term “Permitted Acquisition Amount” in
subsection 1.1 and the Parent Borrower has not elected to so apply such
proceeds, such prepayment to be made on the earlier of (1) the date occurring
90 days after the receipt of such Net Cash Proceeds and (2) the date on which
the Parent Borrower shall have determined not to acquire any business, assets
or Capital Stock in an acquisition permitted by subsection 8.10(b) with
all or any portion of such

 

56

 

Net
Cash Proceeds and except that, in the case of clause (y), if any such Net Cash
Proceeds are eligible to be reinvested in accordance with the definition of the
term “Reinvested Amount” in subsection 1.1 and the Parent Borrower has not
elected to reinvest such proceeds, such prepayment to be made on the earlier of
(1) the date on which the certificate of a Responsible Officer of the Parent
Borrower to such effect is delivered to the Administrative Agent in accordance
with such definition and (2) the last day of the period within which a certificate
setting forth such election is required to be delivered in accordance with such
definition).  Nothing in this paragraph
(b) shall limit the rights of the Administrative Agent and the Lenders set
forth in Section 9.

 

(c)           Commencing March 31, 2006, and
on each March 31 thereafter, the Parent Borrower shall apply toward the
prepayment, in accordance with subsection 4.4(f), of the Loans and the
cash collateralization of the L/C Obligations the ECF Percentage of the Parent
Borrower’s Excess Cash Flow for the fiscal year ending on the immediately
preceding December 31.

 

(d)           The Parent Borrower shall prepay all
Swing Line Loans then outstanding simultaneously with each borrowing of
Revolving Credit Loans.

 

(e)           If the Parent Borrower or any of its
Subsidiaries enters into any Permitted Receivables Transaction, on the next
Business Day the Parent Borrower shall prepay, in accordance with
subsection 4.4(f), the Loans and cash collateralize the L/C Obligations in
an aggregate amount equal to the Permitted Receivables Transaction Prepayment
Amount in respect of such Permitted Receivables Transaction.

 

(f)            Prepayments pursuant to subsections
4.4(b), 4.4(c) and 4.4(e) shall be applied, first, to prepay Term Loans
then outstanding, second, to prepay Swing Line Loans then outstanding, third,
to prepay Revolving Credit Loans then outstanding, fourth, to pay any
Reimbursement Obligations then outstanding and, last, to cash
collateralize any outstanding L/C Obligations on terms reasonably satisfactory
to the Administrative Agent. 
Prepayments of Term Loans pursuant to subsections 4.4(b), 4.4.(c) and
4.4(e) shall be applied (i) pro rata (based on outstanding principal amount) to
the Term Loans and (ii) pro rata to the respective installments of principal
thereof; provided that notwithstanding clauses (i) and (ii) above, any
such payment may, at the option of the Parent Borrower, be first allocated to
the Term Loans pro rata based upon the aggregate amount of the installments
thereof due in the next twelve months and then applied, at the option of the
Parent Borrower, against any of such installments of the Term Loans and,
thereafter, the remainder of such prepayment shall be allocated and applied as
provided in clauses (i) and (ii) above; provided, further, that
any pro rata calculations required to be made pursuant to this
subsection 4.4(f) in respect to any Loan denominated in a Designated
Foreign Currency shall be made on a Dollar Equivalent basis.

 

(g)           Amounts prepaid on account of Term
Loans pursuant to subsection 4.4(a), 4.4(b), 4.4(c) or 4.4(e) may not be
reborrowed.

 

(h)           The Revolving Credit Commitments
shall be permanently reduced by the amount of all prepayments of Revolving
Credit Loans, payments of Reimbursement Obligations

 

57

 

and cash collateralizations of
L/C Obligations, in each case, made under subsections 4.4(b), 4.4(c) or 4.4(e).

 

(i)            Notwithstanding the foregoing
provisions of this subsection 4.4, if at any time any prepayment of the
Loans pursuant to subsection 4.4(b), 4.4(c) or 4.4(e) would result, after
giving effect to the procedures set forth in this Agreement, in the Parent
Borrower incurring breakage costs under subsection 4.12 as a result of
Eurocurrency Loans being prepaid other than on the last day of an Interest
Period with respect thereto, then, the relevant Borrower may, so long as no
Default or Event of Default shall have occurred and be continuing, in its sole
discretion, initially (i) deposit a portion (up to 100%) of the amounts that
otherwise would have been paid in respect of such Eurocurrency Loans with the
Administrative Agent (which deposit must be equal in amount to the amount of
such Eurocurrency Loans not immediately prepaid) to be held as security for the
obligations of the Borrowers to make such prepayment pursuant to a cash
collateral agreement to be entered into on terms reasonably satisfactory to the
Administrative Agent, with such cash collateral to be directly applied upon the
first occurrence thereafter of the last day of an Interest Period with respect
to such Eurocurrency Loans (or such earlier date or dates as shall be requested
by the Parent Borrower) or (ii) make a prepayment of the Revolving Credit Loans
in accordance with subsection 4.4(a) with an amount equal to a portion (up
to 100%) of the amounts that otherwise would have been paid in respect of such
Eurocurrency Loans (which prepayment, together with any deposits pursuant to
clause (i) above, must be equal in amount to the amount of such Eurocurrency
Loans not immediately prepaid); provided that, notwithstanding anything
in this Agreement to the contrary, none of the Borrowers may request any
Extension of Credit under the Revolving Credit Commitments that would reduce
the aggregate amount of the Available Revolving Credit Commitments to an amount
that is less than the amount of such prepayment until the related portion of
such Eurocurrency Loans have been prepaid upon the first occurrence thereafter
of the last day of an Interest Period with respect to such Eurocurrency Loans; provided
that, in the case of either clause (i) or (ii), such unpaid Eurocurrency Loans
shall continue to bear interest in accordance with subsection 4.1 until
such unpaid Eurocurrency Loans or the related portion of such Eurocurrency
Loans, as the case may be, have or has been prepaid.

 

4.5.          Commitment
Fees; Administrative Agent’s Fee; Other Fees.  (a)  The Parent Borrower agrees to
pay to the Administrative Agent, for the account of each Revolving Credit
Lender, a commitment fee for the period from and including the first day of the
Revolving Credit Commitment Period to the Termination Date, computed at the
Commitment Fee Rate on the average daily amount of the Available Revolving
Credit Commitment of such Revolving Credit Lender during the period for which payment
is made, payable quarterly in arrears on the last day of each March, June,
September and December and on the Termination Date or such earlier
date as the Revolving Credit Commitments shall terminate as provided herein,
commencing on June 30, 2004.

 

(b)           The Parent Borrower agrees to pay to
the Administrative Agent and the Other Representatives any fees in the amounts
and on the dates previously agreed to in writing by the Parent Borrower, the
Other Representatives and the Administrative Agent in connection with this
Agreement.

 

58

 

4.6.          Computation
of Interest and Fees. 
(a)  Interest (other than
interest based on the Prime Rate) shall be calculated on the basis of a 360-day
year for the actual days elapsed; and commitment fees and interest based on the
Prime Rate shall be calculated on the basis of a 365- (or 366-, as the case may
be) day year for the actual days elapsed. 
The Administrative Agent shall as soon as practicable notify the Parent
Borrower and the affected Lenders of each determination of a Eurocurrency
Rate.  Any change in the interest rate
on a Loan resulting from a change in the ABR, the Swing Line Foreign Currency
Rate or the Eurocurrency Reserve Requirements shall become effective as of the
opening of business on the day on which such change becomes effective.  The Administrative Agent shall as soon as
practicable notify the Parent Borrower and the affected Lenders of the
effective date and the amount of each such change in interest rate.

 

(b)           Each determination of an interest
rate by the Administrative Agent pursuant to any provision of this Agreement
shall be conclusive and binding on each of the Borrowers and the Lenders in the
absence of manifest error.  The
Administrative Agent shall, at the request of the Parent Borrower or any
Lender, deliver to the Parent Borrower or such Lender a statement showing in
reasonable detail the calculations used by the Administrative Agent in
determining any interest rate pursuant to subsection 4.1 , excluding any
Eurocurrency Base Rate which is based upon the Telerate British Bankers Assoc.
Interest Settlement Rates Page and any ABR which is based upon the Prime Rate.

 

4.7.          Inability to
Determine Interest Rate. 
If prior to the first day of any Interest Period, the Administrative
Agent shall have determined (which determination shall be conclusive and
binding upon each of the Borrowers) that, by reason of circumstances affecting
the relevant market, adequate and reasonable means do not exist for ascertaining
the Eurocurrency Rate with respect to any Eurocurrency Loan or the Swing Line
Foreign Currency Rate for any Swing Line Foreign Currency Loan (in either case,
the “Affected Rate”) for such Interest Period, the Administrative Agent
shall give telecopy or telephonic notice thereof to the Parent Borrower and the
Lenders as soon as practicable thereafter. 
If such notice is given (a) any Eurocurrency Loans the rate of
interest applicable to which is based on the Affected Eurocurrency Rate
requested to be made on the first day of such Interest Period shall be made as
ABR Loans (to the extent otherwise permitted by subsection 4.2),
(b) any Loans that were to have been converted on the first day of such
Interest Period to or continued as Eurocurrency Loans the rate of interest
applicable to which is based upon the Affected Eurocurrency Rate shall be
converted to or continued as ABR Loans (to the extent otherwise permitted by
subsection 4.2), (c) in the case of Tranche B Euro Term Loans or Swing
Line Foreign Currency Loans subject to an Affected Rate, same shall remain
outstanding and bear interest at the rate which reflects, as to each Tranche B
Euro Term Loan Lender or the Swing Line Lender, as the case may be, such
Lender’s cost of funding such Eurocurrency Loans, or Swing Line Foreign
Currency Loans as reasonably determined by such Lender, plus the Applicable
Margin hereunder (plus 1.50% per annum in the case of Swing Line Foreign
Currency Loans), and (d) any outstanding Eurocurrency Loans that are Revolving Credit
Loans that were to have been converted on the first day of such Interest Period
to or continued as Eurocurrency Loans the rate of interest applicable to which
is based upon the Affected Eurocurrency Rate and that are not otherwise
permitted to be converted to or continued as ABR Loans by subsection 4.2
shall, upon demand by the Revolving Credit Lenders the Revolving Credit
Commitment Percentage of which aggregate greater than 50%, be immediately
repaid by the applicable Borrower on the last day of the then current Interest
Period

 

59

 

with respect thereto together with accrued interest thereon or
otherwise, at the option of the Parent Borrower, shall remain outstanding and
bear interest at a rate which reflects, as to each of the Revolving Credit
Lenders, such Revolving Credit Lender’s cost of funding such Eurocurrency
Loans, as reasonably determined by such Revolving Credit Lender, plus the
Applicable Margin hereunder. If any such repayment occurs on a day which is not
the last day of the then current Interest Period with respect to such affected
Eurocurrency Loan, the applicable Borrower shall pay to each of the Revolving
Credit Lenders such amounts, if any, as may be required pursuant to subsection 4.12.  Until such notice has been withdrawn by the
Administrative Agent, no further Eurocurrency Loans the rate of interest
applicable to which is based upon the Affected Eurocurrency Rate shall be made
or continued as such, nor shall any of the Borrowers have the right to convert
ABR Loans to Eurocurrency Loans the rate of interest applicable to which is
based upon the Affected Eurocurrency Rate.

 

4.8.          Pro Rata
Treatment and Payments. 
(a)  Each borrowing of Revolving
Credit Loans (other than Swing Line Loans) by any of the Borrowers from the
Lenders hereunder shall be made, each payment by any of the Borrowers on
account of any commitment fee in respect of the Revolving Credit Commitments
hereunder shall be allocated by the Administrative Agent, and any reduction of
the Revolving Credit Commitments of the Lenders shall be allocated by the
Administrative Agent, pro rata according to the relevant Revolving Credit
Commitment Percentages of the Lenders. 
Each payment (including each prepayment) by any of the Borrowers on
account of principal of and interest on any Revolving Credit Loans shall be
allocated by the Administrative Agent pro rata according to the respective
outstanding principal amounts of such Revolving Credit Loans then held by the
Revolving Credit Lenders. Each payment (including each prepayment) by any of
the Borrowers on account of principal of and interest on any Tranche of Term
Loans shall be allocated by the Administrative Agent pro rata according to the
respective outstanding principal amounts of the Term Loans of such Tranche then
held by the respective Lenders.  All
payments (including prepayments) to be made by any of the Borrowers hereunder,
whether on account of principal, interest, fees, Reimbursement Obligations or
otherwise, shall be made without set-off or counterclaim and shall be made
prior to 1:00 P.M., New York City time, on the due date thereof to the
Administrative Agent, for the account of the Lenders holding the relevant Loans
or the L/C Participants, as the case may be, at the Administrative Agent’s
office specified in subsection 11.2, in Dollars or, in the case of Loans
outstanding in any Designated Foreign Currency and L/C Obligations in any
Designated Foreign Currency, such Designated Foreign Currency and, whether in
Dollars or any Designated Foreign Currency, in immediately available
funds.  Payments received by the
Administrative Agent after such time shall be deemed to have been received on
the next Business Day.  The
Administrative Agent shall distribute such payments to such Lenders, if any
such payment is received prior to 1:00 P.M., New York City time, on a
Business Day, in like funds as received prior to the end of such Business Day
and otherwise the Administrative Agent shall distribute such payment to such
Lenders on the next succeeding Business Day. 
If any payment hereunder (other than payments on the Eurocurrency Loans)
becomes due and payable on a day other than a Business Day, the maturity of
such payment shall be extended to the next succeeding Business Day, and, with
respect to payments of principal, interest thereon shall be payable at the then
applicable rate during such extension. 
If any payment on a Eurocurrency Loan becomes due and payable on a day
other than a Business Day, the maturity of such payment shall be extended to
the next succeeding Business Day (and, with respect to payments of principal,
interest thereon shall be payable at the then applicable rate

 

60

 

during such extension) unless the result of such extension would be to
extend such payment into another calendar month, in which event such payment
shall be made on the immediately preceding Business Day.

 

(b)           Unless the Administrative Agent
shall have been notified in writing by any Lender prior to a borrowing that
such Lender will not make the amount that would constitute its Revolving Credit
Commitment Percentage or Tranche B Term Loan Percentage, as the case may be, of
such borrowing available to the Administrative Agent, the Administrative Agent
may assume that such Lender is making such amount available to the
Administrative Agent, and the Administrative Agent may, in reliance upon such
assumption, make available to any of the Borrowers in respect of such borrowing
a corresponding amount.  If such amount
is not made available to the Administrative Agent by the required time on the
Borrowing Date therefor, such Lender shall pay to the Administrative Agent, on
demand, such amount with interest thereon at a rate equal to (i) in the case of
Loans to be made in any Designated Foreign Currency, the rate customary in such
Designated Foreign Currency for settlement of similar inter-bank obligations,
or (ii) in the case of Loans to be made in Dollars, the daily average Federal
Funds Effective Rate, as quoted by the Administrative Agent, in each case for
the period until such Lender makes such amount immediately available to the
Administrative Agent.  A certificate of
the Administrative Agent submitted to any Lender with respect to any amounts
owing under this subsection shall be conclusive in the absence of manifest
error.  If such Lender’s Revolving
Credit Commitment Percentage or Tranche B Term Loan Percentage, as the case may
be, of such borrowing is not made available to the Administrative Agent by such
Lender within three Business Days of such Borrowing Date, (x) the
Administrative Agent shall notify the Parent Borrower of the failure of such
Lender to make such amount available to the Administrative Agent and the
Administrative Agent shall also be entitled to recover such amount with
interest thereon at the rate per annum applicable to, in the case of Loans to
be made in Dollars, ABR Loans hereunder or, in the case of Loans to be made in
any Designated Foreign Currency, the rate per annum applicable to such Loans
pursuant to subsection 4.1, in either case on demand, from such Borrower
and (y) then such Borrower may, without waiving or limiting any rights or
remedies it may have against such Lender hereunder or under applicable law or
otherwise, (i) borrow a like amount on an unsecured basis from any commercial
bank for a period ending on the date upon which such Lender does in fact make
such borrowing available, provided that at the time such borrowing is
made and at all times while such amount is outstanding such Borrower would be
permitted to borrow such amount pursuant to subsection 2.1 and/or (ii)
take any action permitted by the following subsection 4.8(c).

 

(c)           Notwithstanding anything contained
in this Agreement:

 

(i)            If at any time a Revolving Credit Lender shall not
make a Revolving Credit Loan required to be made by it hereunder (any such
Lender, a “Defaulting Lender”), the Parent Borrower shall have the right
to seek one or more Persons reasonably satisfactory to the Administrative Agent
and the Parent Borrower to each become a substitute Revolving Credit Lender and
assume all or part of the Revolving Credit Commitment of such Defaulting
Lender.  In such event, the Parent
Borrower, the Administrative Agent and any such substitute Revolving Credit
Lender shall execute and deliver, and such Defaulting Lender

 

61

 

shall thereupon be deemed to have executed and delivered, an
appropriately completed Assignment and Acceptance to effect such substitution.

 

(ii)           In determining the Required Collateral Release Lenders
or Required Lenders, any Lender that at the time is a Defaulting Lender (and
the Revolving Credit Loans and/or Revolving Credit Commitment of such
Defaulting Lender) shall be excluded and disregarded.  No commitment fee shall accrue for the
account of a Defaulting Lender so long as such Lender shall be a Defaulting
Lender.

 

(iii)          If at any time any Borrower shall be required to make
any payment under any Loan Document to or for the account of a Defaulting
Lender, then such Borrower, so long as it is then permitted to borrow Revolving
Credit Loans hereunder, may set off and otherwise apply its obligation to make
such payment against the obligation of such Defaulting Lender to make such
Defaulted Loan.  In such event, the
amount so set off and otherwise applied shall be deemed to constitute a
Revolving Credit Loan by such Defaulting Lender made on the date of such
set-off and included within any borrowing of Revolving Credit Loans as the
Administrative Agent may reasonably determine.

 

(iv)          If, with respect to any Defaulting Lender, which for
the purposes of this subsection 4.8(c)(iv), shall include any Revolving
Credit Lender that has taken any action or become the subject of any action or
proceeding of a type described in subsection 9(f), any Borrower shall be
required to pay any amount under any Loan Document to or for the account of
such Defaulting Lender, then such Borrower, so long as it is then permitted to
borrow Revolving Credit Loans hereunder, may satisfy such payment obligation by
paying such amount to the Administrative Agent, to be (to the extent permitted
by applicable law and to the extent not utilized by the Administrative Agent to
satisfy obligations of the Defaulting Lender owing to it) held by the
Administrative Agent in escrow pursuant to its standard terms (including as to
the earning of interest), and applied (together with any accrued interest) by
it from time to time to make any Revolving Credit Loans or other payments as
and when required to be made by such Defaulting Lender hereunder.

 

4.9.          Illegality.  Notwithstanding any other provision herein,
if the adoption of or any change in any Requirement of Law or in the
interpretation or application thereof occurring after the Closing Date shall
make it unlawful for any Lender to make or maintain any Eurocurrency Loans or
Swing Line Foreign Currency Loans as contemplated by this Agreement (“Affected
Loans”), (a) such Lender shall promptly give written notice of such
circumstances to the Parent Borrower and the Administrative Agent (which notice
shall be withdrawn whenever such circumstances no longer exist), (b) the
commitment of such Lender hereunder to make Affected Loans, continue Affected
Loans as such and convert an ABR Loan to an Affected Loan shall forthwith be
cancelled and, until such time as it shall no longer be unlawful for such
Lender to make or maintain such Affected Loans, such Lender shall then have a
commitment only to make an ABR Loan (or a Swing Line Loan denominated in Dollars)
when an Affected Loan is requested (to the extent otherwise permitted by
subsection 4.2), (c) such Lender’s Loans then

 

62

 

outstanding as Affected Loans, if any, shall be converted automatically
to ABR Loans on the respective last days of the then current Interest Periods
with respect to such Loans or within such earlier period as required by law (to
the extent otherwise permitted by subsection 4.2) and (d) such Lender’s
Loans then outstanding as Affected Loans, if any, not otherwise permitted to be
converted to ABR Loans by subsection 4.2 (whether because such Loans are
denominated in a Designated Foreign Currency or otherwise) shall, upon notice
to the Parent Borrower, be prepaid with accrued interest thereon on the last
day of the then current Interest Period with respect thereto (or such earlier
date as may be required by any such Requirement of Law).  If any such conversion or prepayment of an
Affected Loan occurs on a day which is not the last day of the then current
Interest Period with respect thereto, the applicable Borrower shall pay to such
Lender such amounts, if any, as may be required pursuant to
subsection 4.12.

 

4.10.        Requirements of
Law.  (a)  If the adoption of or any change in any
Requirement of Law or in the interpretation or application thereof applicable
to any Lender, or compliance by any Lender with any request or directive
(whether or not having the force of law) from any central bank or other
Governmental Authority, in each case made subsequent to the Closing Date (or,
if later, the date on which such Lender becomes a Lender):

 

(i)            shall subject such Lender to any tax of any kind
whatsoever with respect to any Letter of Credit, any Letter of Credit Request,
or any Eurocurrency Loans or any Swing Line Foreign Currency Loans made or
maintained by it or its obligation to make or maintain Eurocurrency Loans or
Swing Line Foreign Currency Loans, or change the basis of taxation of payments
to such Lender in respect thereof (except for Non-Excluded Taxes covered by
subsection 4.11 (including Non-Excluded Taxes imposed solely by reason of
any failure of such Lender to comply with its obligations (if any) under
subsections 4.11(b) or 4.11(c) or with respect to fees paid under this Agreement)
and changes in taxes measured by or imposed upon the overall net income, or
franchise taxes, or taxes measured by or imposed upon overall capital or net
worth, or branch taxes (in the case of such capital, net worth or branch taxes,
imposed in lieu of such net income tax), of such Lender or its applicable
lending office, branch, or any affiliate thereof);

 

(ii)           shall impose, modify or hold applicable any reserve,
special deposit, compulsory loan or similar requirement against assets held by,
deposits or other liabilities in or for the account of, advances, loans or
other extensions of credit by, or any other acquisition of funds by, any office
of such Lender which is not otherwise included in the determination of the
Eurocurrency Rate or Swing Line Foreign Currency Rates, as the case may be,
hereunder; or

 

(iii)          shall impose on such Lender any other condition
(excluding any tax of any kind whatsoever);

 

and
the result of any of the foregoing is to increase the cost to such Lender, by
an amount which such Lender deems to be material, of making, converting into,
continuing or maintaining Eurocurrency Loans or Swing Line Foreign Currency
Loans or issuing or participating in Letters of Credit or to reduce any amount
receivable hereunder in respect thereof, then, in any such case, upon notice to
the Parent Borrower from such Lender, through the Administrative Agent, in

 

63

 

accordance
herewith, the applicable Borrower shall promptly pay such Lender, upon its
demand, any additional amounts necessary to compensate such Lender for such
increased cost or reduced amount receivable with respect to such Eurocurrency
Loans, Swing Line Foreign Currency or Letters of Credit, provided that,
in any such case, such Borrower may elect to convert the Eurocurrency Loans
made by such Lender hereunder to ABR Loans (to the extent denominated in
Dollars and otherwise permitted by subsection 4.2) by giving the
Administrative Agent at least one Business Day’s notice of such election, in which
case such Borrower shall promptly pay to such Lender, upon demand, without
duplication, amounts theretofore required to be paid to such Lender pursuant to
this subsection 4.10(a) and such amounts, if any, as may be required
pursuant to subsection 4.12.  If any
Lender becomes entitled to claim any additional amounts pursuant to this
subsection, it shall provide prompt notice thereof to the Parent Borrower,
through the Administrative Agent, certifying (x) that one of the events
described in this paragraph (a) has occurred and describing in reasonable
detail the nature of such event, (y) as to the increased cost or reduced amount
resulting from such event and (z) as to the additional amount demanded by such
Lender and a reasonably detailed explanation of the calculation thereof.  Such a certificate as to any additional
amounts payable pursuant to this subsection submitted by such Lender,
through the Administrative Agent, to the Parent Borrower shall be conclusive in
the absence of manifest error.  This
covenant shall survive the termination of this Agreement and the payment of the
Loans and all other amounts payable hereunder.

 

(b)           If any Lender shall have determined
that the adoption of or any change in any Requirement of Law regarding capital
adequacy or in the interpretation or application thereof or compliance by such
Lender or any corporation controlling such Lender with any request or directive
regarding capital adequacy (whether or not having the force of law) from any
Governmental Authority, in each case, made subsequent to the Closing Date, does
or shall have the effect of reducing the rate of return on such Lender’s or
such corporation’s capital as a consequence of such Lender’s obligations
hereunder or under or in respect of any Letter of Credit to a level below that
which such Lender or such corporation could have achieved but for such change
or compliance (taking into consideration such Lender’s or such corporation’s
policies with respect to capital adequacy) by an amount deemed by such Lender
to be material, then from time to time, within ten Business Days after
submission by such Lender to the Parent Borrower (with a copy to the
Administrative Agent) of a written request therefor certifying (x) that
one of the events described in this paragraph (b) has occurred and describing
in reasonable detail the nature of such event, (y) as to the reduction of the
rate of return on capital resulting from such event and (z) as to the
additional amount or amounts demanded by such Lender or corporation and a
reasonably detailed explanation of the calculation thereof, the applicable
Borrower shall pay to such Lender such additional amount or amounts as will
compensate such Lender or corporation for such reduction.  Such a certificate as to any additional
amounts payable pursuant to this subsection submitted by such Lender,
through the Administrative Agent, to the Parent Borrower shall be conclusive in
the absence of manifest error.  This
covenant shall survive the termination of this Agreement and the payment of the
Loans and all other amounts payable hereunder.

 

(c)           For so long as any Lender incurs any
costs as a result of complying with any reserve asset, liquidity, special
deposit or other regulatory requirements affecting it as a result of
participating in any Eurocurrency Loans or Swing Line Foreign Currency Loans
through a branch or office (a “Lending Office”) located in the United
Kingdom or Participating

 

64

 

Member
State, then that Lender shall be entitled to require the applicable Borrower to
pay on each relevant Interest Payment Date additional interest on such Loan at
a rate per annum equal to the Mandatory Costs Rate calculated in accordance
with the formula and in the manner set out in Schedule 4.10(c) hereto.

 

4.11.        Taxes.  (a) 
Except as provided below in this subsection, all payments made by each
of the Borrowers under this Agreement and any Notes shall be made free and
clear of, and without deduction or withholding for or on account of, any
present or future income, stamp or other taxes, levies, imposts, duties,
charges, fees, deductions or withholdings, now or hereafter imposed, levied,
collected, withheld or assessed by any Governmental Authority, excluding taxes
measured by or imposed upon the overall net income of any Lender or its
applicable lending office, or any branch or affiliate thereof, and all
franchise taxes, branch taxes, taxes on doing business or taxes measured by or
imposed upon the overall capital or net worth of any Lender or its applicable lending
office, or any branch or affiliate thereof, in each case imposed:  (i) by the jurisdiction under the laws of
which such Lender, applicable lending office, branch or affiliate is organized
or is located, or in which its principal executive office is located, or any
nation within which such jurisdiction is located or any political subdivision
thereof; or (ii) by reason of any connection between the jurisdiction imposing
such tax and such Lender, applicable lending office, branch or affiliate other
than a connection arising solely from such Lender having executed, delivered or
performed its obligations under, or received payment under or enforced, this
Agreement or any Notes.  If any such
non-excluded taxes, levies, imposts, duties, charges, fees, deductions or
withholdings (“Non-Excluded Taxes”) are required to be withheld from any
amounts payable to the Administrative Agent or any Lender hereunder or under
any Notes, the amounts so payable to the Administrative Agent or such Lender
shall be increased to the extent necessary to yield to the Administrative Agent
or such Lender (after payment of all Non-Excluded Taxes) interest or any such
other amounts payable hereunder at the rates or in the amounts specified in
this Agreement, provided, however, that each of the Borrowers
shall be entitled to deduct and withhold any Non-Excluded Taxes and shall not
be required to increase any such amounts payable to any Lender that is not
organized under the laws of the United States of America or a state thereof, as
the case may be, (x) if such Lender fails to comply with the requirements of
paragraphs (b) or (c) of this subsection or (y) with respect to any
Non-Excluded Taxes imposed in connection with the payment of any fees paid
under this Agreement unless such Non-Excluded Taxes are imposed as a result of
a change in treaty, law or regulation that occurred after such Lender becomes a
Lender hereunder (or, if such Lender is a foreign intermediary or flow-through
entity for U.S. federal income tax purposes, after the relevant beneficiary or
member of such Lender became such a beneficiary or member, if later).  Whenever any Non-Excluded Taxes are payable
by any of the Borrowers, as promptly as possible thereafter the applicable
Borrower shall send to the Administrative Agent for its own account or for the
account of such Lender, as the case may be, a certified copy of an original
official receipt received by such Borrower showing payment thereof.  If any of the Borrowers fails to pay any
Non-Excluded Taxes when due to the appropriate taxing authority or fails to
remit to the Administrative Agent the required receipts or other required
documentary evidence, such Borrower shall indemnify the Administrative Agent
and the Lenders for any incremental taxes, interest or penalties that may
become payable by the Administrative Agent or any Lender as a result of any
such failure.  The agreements in this
subsection 4.11 shall survive the termination of this Agreement and the
payment of the Loans and all other amounts payable hereunder.

 

65

 

(b)           Each Lender that is not incorporated
under the laws of the United States of America or a state thereof shall:

 

(X)          (i)  on or
before the date of any payment by any of the Borrowers under this Agreement or
any Notes to such Lender, deliver to the Parent Borrower and the Administrative
Agent (A) two duly completed copies of United States Internal Revenue Service
Form W-8BEN (certifying that it is a resident of the applicable country within
the meaning of the income tax treaty between the United States and that
country) or Form W-8ECI, or successor applicable form, as the case may be,
certifying that it is entitled to receive all payments under this Agreement and
any Notes without deduction or withholding of any United States federal income
taxes and (B) such other forms, documentation or certifications, as the case
may be, certifying that it is entitled to an exemption from United States
backup withholding tax with respect to payments under this Agreement and any
Notes;

 

(ii)           deliver to the Parent Borrower and the Administrative
Agent two further copies of any such form or certification on or before the
date that any such form or certification expires or becomes obsolete and after
the occurrence of any event requiring a change in the most recent form or
certificate previously delivered by it to the Parent Borrower; and

 

(iii)          obtain such extensions of time for filing and
completing such forms or certifications as may reasonably be requested by the
Parent Borrower or the Administrative Agent; or

 

(Y)           in the case of any such Lender that is not a “bank”
within the meaning of Section 881(c)(3)(A) of the Code,

 

(i)            represent to the Parent Borrower (for the benefit of
each of the Borrowers and the Administrative Agent) that it is not a bank
within the meaning of Section 881(c)(3)(A) of the Code;

 

(ii)           agree to furnish to the Parent Borrower on or before
the date of any payment by any of the Borrowers, with a copy to the
Administrative Agent, (A) two certificates substantially in the form of
Exhibit E (any such certificate a “U.S. Tax Compliance Certificate”) and
(B) two accurate and complete original signed copies of Internal Revenue
Service Form W-8BEN, or successor applicable form certifying to such Lender’s
legal entitlement at the date of such certificate to an exemption from U.S.
withholding tax under the provisions of Section 871(h) or
Section 881(c) of the Code with respect to payments to be made under this
Agreement and any Notes (and to deliver to the Parent Borrower and the
Administrative Agent two further copies of such form or certificate on or
before the date it expires or becomes obsolete and after the occurrence of any
event requiring a change in the most recently provided form or certificate and,
if necessary, obtain any extensions of time reasonably requested by the Parent 

 

66

 

Borrower or the Administrative Agent for filing and
completing such forms or certificates); and

 

(iii)          agree, to the extent legally entitled to do so, upon
reasonable request by the Parent Borrower, to provide to the Parent Borrower
(for the benefit of each of the Borrowers and the Administrative Agent) such
other forms as may be reasonably required in order to establish the legal
entitlement of such Lender to an exemption from withholding with respect to
payments under this Agreement and any Notes, provided that in determining the
reasonableness of a request under this clause (iii) such Lender shall be
entitled to consider the cost (to the extent unreimbursed by any of the
Borrowers) which would be imposed on such Lender of complying with such
request; or

 

(Z)           in the case of any such Lender that is a foreign
intermediary or flow-through entity for U.S. federal income tax purposes,

 

(i)            on or before the date of any payment by any of the
Borrowers under this Agreement or any Notes to such Lender, deliver to the
Parent Borrower and the Administrative Agent two accurate and complete original
signed copies of United States Internal Revenue Service Form W-8IMY; and

 

(A)          with respect to each beneficiary or member of such
Lender that is a bank within the meaning of Section 881(c)(3)(A) of the
Code, on or before the date of any payment by any of the Borrowers under this
Agreement or any Notes to such Lender, also deliver to the Parent Borrower and
the Administrative Agent  (I) two duly
completed copies of United States Internal Revenue Service Form W-8BEN
(certifying that such beneficiary or member is a resident of the applicable
country within the meaning of the income tax treaty between the United States
and that country), Form W-8ECI or Form W-9, or successor applicable form, as
the case may be, in each case certifying that each such beneficiary or member
is entitled to receive all payments under this Agreement and any Notes without
deduction or withholding of any United States federal income taxes and (II)
such other forms, documentation or certifications, as the case may be,
certifying that each such beneficiary or member is entitled to an exemption
from United States backup withholding tax with respect to all payments under
this Agreement and any Notes; and

 

(B)           with respect to each beneficiary or member of such
Lender that is not a bank within the meaning of Section 881(c)(3)(A) of
the Code, (I) represent to the Parent Borrower (for the benefit of each of the
Borrowers and the Administrative Agent) that such beneficiary or member is not
a bank within the meaning of Section 881(c)(3)(A) of the Code, and (II)
also deliver to the Parent Borrower and the Administrative Agent on or before
the date of any payment by any of the Borrowers under this Agreement or any
Notes to such Lender, (x) two accurate and complete original signed copies of
Internal Revenue Service Form W-9, or successor applicable

 

67

 

form, certifying that each such beneficiary or member is
entitled to receive all payments under this Agreement and any Notes without
deduction or withholding of any United States federal income taxes, or (y) two
U.S. Tax Compliance Certificates from each beneficiary or member and two
accurate and complete original signed copies of Internal Revenue Service Form
W-8BEN, or successor applicable form, certifying to such beneficiary’s or
member’s legal entitlement at the date of such certificate to an exemption from
U.S. withholding tax under the provisions of Section 871(h) or
Section 881(c) of the Code with respect to payments to be made under this
Agreement and any Notes;

 

(ii)           deliver to the Parent Borrower and the Administrative
Agent two further copies of any such forms, certificates or certifications
referred to above on or before the date any such form, certificate or
certification expires or becomes obsolete, or any beneficiary or member
changes, and after the occurrence of any event requiring a change in the most
recently provided form, certificate or certification and, obtain such
extensions of time reasonably requested by the Parent Borrower or the
Administrative Agent for filing and completing such forms, certificates or
certifications; and

 

(iii)          agree, to the extent legally entitled to do so, upon
reasonable request by the Parent Borrower, to provide to the Parent Borrower
(for the benefit of each of the Borrowers and the Administrative Agent) such
other forms as may be reasonably required in order to establish the legal
entitlement of such Lender (or beneficiary or member) to an exemption from
withholding with respect to payments under this Agreement and any Notes,
provided that in determining the reasonableness of a request under this clause
(iii) such Lender shall be entitled to consider the cost (to the extent
unreimbursed by any of the Borrowers) which would be imposed on such Lender (or
beneficiary or member) of complying with such request;

 

unless
in any such case any change in treaty, law or regulation has occurred after the
date such Person becomes a Lender hereunder (or a beneficiary or member in the
circumstances described in clause (Z) above, if later) which renders all such
forms inapplicable or which would prevent such Lender (or such beneficiary or
member) from duly completing and delivering any such form with respect to it
and such Lender so advises the Parent Borrower and the Administrative Agent.

 

(c)           Each Lender shall, upon request by
any Borrower, deliver to such Borrower or the applicable governmental or taxing
authority, as the case may be, any form or certificate required in order that
any payment by any Foreign Subsidiary Borrower under this Agreement or any
Notes to such Lender may be made free and clear of, and without deduction or
withholding for or on account of any Non-Excluded Taxes (or to allow any such
deduction or withholding to be at a reduced rate) imposed on such payment under
the laws of any jurisdiction located outside the United States, provided that
such Lender is legally entitled to complete, execute and deliver such form or
certificate and such completion, execution or submission would not materially
prejudice the legal, regulatory or overall policy positions of such
Lender.  Each Person that shall become a
Lender or a Participant pursuant to subsection 11.6 shall, upon the
effectiveness of the related transfer, be required to provide all of the forms,
certifications and

 

68

 

statements
required pursuant to this subsection, provided that in the case of a
Participant the obligations of such Participant pursuant to paragraphs (b) or
(c) of this subsection shall be determined as if such Participant were a
Lender except that such Participant shall furnish all such required forms,
certifications and statements to the Lender from which the related
participation shall have been purchased.

 

4.12.        Indemnity.  Each of the Borrowers agrees to indemnify
each Lender and to hold each Lender harmless from any loss or expense which
such Lender may sustain or incur (other than through such Lender’s gross
negligence or willful misconduct) as a consequence of (a) default by such
Borrower in making a borrowing of, conversion into or continuation of
Eurocurrency Loans or Swing Line Foreign Currency Loans after the Parent
Borrower has given a notice requesting the same in accordance with the
provisions of this Agreement, (b) default by such Borrower in making any
prepayment or conversion of Eurocurrency Loans or Swing Line Foreign Currency
Loans after the Parent Borrower has given a notice thereof in accordance with
the provisions of this Agreement or (c) the making of a payment or prepayment
of Eurocurrency Loans or Swing Line Foreign Currency Loans or the conversion of
Eurocurrency Loans on a day which is not the last day of an Interest Period
with respect thereto.  Such
indemnification may include an amount equal to the excess, if any, of (i) the amount
of interest which would have accrued on the amount so prepaid, or converted, or
not so borrowed, converted or continued, for the period from the date of such
prepayment or conversion or of such failure to borrow, convert or continue to
the last day of the applicable Interest Period (or, in the case of a failure to
borrow, convert or continue, the Interest Period that would have commenced on
the date of such failure) in each case at the applicable rate of interest for
such Eurocurrency Loans (or Swing Line Foreign Currency Loans, as applicable)
provided for herein (excluding, however, the Applicable Margin included
therein, if any) over (ii) the amount of interest (as reasonably determined by
such Lender) which would have accrued to such Lender on such amount by placing
such amount on deposit for a comparable period with leading banks in the
interbank eurocurrency market.  If any
Lender becomes entitled to claim any amounts under the indemnity contained in
this subsection 4.12, it shall provide prompt notice thereof to the Parent
Borrower, through the Administrative Agent, certifying (x) that one of the
events described in clause (a), (b) or (c) has occurred and describing in
reasonable detail the nature of such event, (y) as to the loss or expense
sustained or incurred by such Lender as a consequence thereof and (z) as to the
amount for which such Lender seeks indemnification hereunder and a reasonably
detailed explanation of the calculation thereof.  Such a certificate as to any indemnification pursuant to this
subsection submitted by such Lender, through the Administrative Agent, to
the Parent Borrower shall be conclusive in the absence of manifest error.  This covenant shall survive the termination
of this Agreement and the payment of the Loans and all other amounts payable
hereunder.

 

4.13.        Certain Rules
Relating to the Payment of Additional Amounts.  (a)  Upon the request, and at the
expense of the applicable Borrower, each Lender to which any of the Borrowers
is required to pay any additional amount pursuant to subsection 4.10 or
4.11, and any Participant in respect of whose participation such payment is
required, shall reasonably afford such Borrower the opportunity to contest, and
reasonably cooperate with such Borrower in contesting, the imposition of any
Non-Excluded Tax giving rise to such payment; provided that (i) such
Lender shall not be required to afford such Borrower the opportunity to so
contest unless such Borrower shall have confirmed in writing to such Lender its
obligation to pay such amounts pursuant to this Agreement and (ii) such
Borrower shall reimburse such Lender for its reasonable

 

69

 

attorneys’ and accountants’ fees and disbursements incurred in so
cooperating with such Borrower in contesting the imposition of such Non-Excluded
Tax; provided, however, that notwithstanding the foregoing no
Lender shall be required to afford any Borrower the opportunity to contest, or
cooperate with such Borrower in contesting, the imposition of any Non-Excluded
Taxes, if such Lender in its sole discretion in good faith determines that to
do so would have an adverse effect on it.

 

(b)           If a Lender changes its applicable
lending office (other than pursuant to paragraph (c) below) and the effect of
such change, as of the date of such change, would be to cause any of the
Borrowers to become obligated to pay any additional amount under
subsection 4.10 or 4.11, such Borrower shall not be obligated to pay such
additional amount.

 

(c)           If a condition or an event occurs
which would, or would upon the passage of time or giving of notice, result in
the payment of any additional amount to any Lender by any of the Borrowers
pursuant to subsection 4.10 or 4.11, such Lender shall promptly notify the
applicable Borrower and the Administrative Agent and shall take such steps as
may reasonably be available to it to mitigate the effects of such condition or
event (which shall include efforts to rebook the Loans held by such Lender at
another lending office, or through another branch or an affiliate, of such
Lender); provided that such Lender shall not be required to take any
step that, in its reasonable judgment, would be materially disadvantageous to
its business or operations or would require it to incur additional costs
(unless the Parent Borrower agrees to reimburse such Lender for the reasonable
incremental out-of-pocket costs thereof).

 

(d)           If any of the Borrowers shall become
obligated to pay additional amounts pursuant to subsection 4.10 or 4.11
and any affected Lender shall not have promptly taken steps necessary to avoid
the need for payments under subsection 4.10 or 4.11, the applicable
Borrower shall have the right, for so long as such obligation remains, (i) with
the assistance of the Administrative Agent, to seek one or more substitute
Lenders reasonably satisfactory to the Administrative Agent and such Borrower
to purchase the affected Loan, in whole or in part, at an aggregate price no
less than such Loan’s principal amount plus accrued interest, and assume the
affected obligations under this Agreement, or (ii) so long as no Default or
Event of Default then exists or will exist immediately after giving effect to
the respective prepayment, upon at least four Business Days’ irrevocable notice
to the Administrative Agent, to prepay the affected Loan, in whole or in part,
subject to subsection 4.12, without premium or penalty.  In the case of the substitution of a Lender,
the Parent Borrower (and any other applicable Borrower), the Administrative
Agent, the affected Lender, and any substitute Lender shall execute and deliver
an appropriately completed Assignment and Acceptance pursuant to
subsection 11.6(b) to effect the assignment of rights to, and the
assumption of obligations by, the substitute Lender; provided that any
fees required to be paid by subsection 11.6(b) in connection with such
assignment shall be paid by the Parent Borrower or the substitute Lender.  In the case of a prepayment of an affected
Loan, the amount specified in the notice shall be due and payable on the date
specified therein, together with any accrued interest to such date on the
amount prepaid.  In the case of each of
the substitution of a Lender and of the prepayment of an affected Loan, the
applicable Borrower shall first pay the affected Lender any additional amounts
owing under subsections 4.10 and 4.11 (as well as any commitment fees and other
amounts then due and owing to such Lender, including, without limitation, any
amounts under subsection 4.13) prior to such substitution or prepayment.

 

70

 

(e)           For purposes of subsections 4.10 and
4.11, a change in treaty, law, rule or regulation shall not include the
ratification or entry into force of (i) the protocol amending the income tax
treaty between Canada and the United States, signed August 31, 1995, (ii)
the protocols amending the income tax treaty between the Netherlands and the
United States, signed October 15, 1995 and March 8, 2004, (iii) the
income tax treaty between Italy and the United States, signed August 25,
1999 and (iv) the protocol amending the income tax treaty between Mexico and
the United States, signed November 26, 2002.

 

(f)            If the Administrative Agent or any
Lender receives a refund directly attributable to taxes for which any of the
Borrowers has made additional payments pursuant to subsection 4.10(a) or
4.11(a), the Administrative Agent or such Lender, as the case may be, shall
promptly pay such refund (together with any interest with respect thereto
received from the relevant taxing authority) to such Borrower, provided,
however, that such Borrower agrees promptly to return such refund
(together with any interest with respect thereto due to the relevant taxing
authority) (free of all Non-Excluded Taxes) to the Administrative Agent or the
applicable Lender, as the case may be, upon receipt of a notice that such
refund is required to be repaid to the relevant taxing authority.

 

(g)           The obligations of a Lender or
Participant under this subsection 4.13 shall survive the termination of
this Agreement and the payment of the Loans and all amounts payable hereunder.

 

71

 

4.14.        Controls
on Prepayment if Aggregate Outstanding Revolving Credit Exceeds
Aggregate Revolving Credit Commitments. 
(a)  The Parent Borrower will implement and maintain internal
controls to monitor the borrowings and repayments of Loans by the Borrowers and
the issuance of and drawings under Letters of Credit, with the object of
preventing any request for an Extension of Credit that would result in the
Aggregate Outstanding Revolving Credit with respect to all of the Revolving
Credit Lenders (including the Swing Line Lender) being in excess of the
aggregate Revolving Credit Commitments then in effect and of promptly
identifying any circumstance where, by reason of changes in exchange rates, the
Aggregate Outstanding Revolving Credit with respect to all of the Revolving
Credit Lenders (including the Swing Line Lender) exceeds the aggregate
Revolving Credit Commitments then in effect. 
In the event that at any time the Parent Borrower determines that the
Aggregate Outstanding Revolving Credit with respect to all of the Revolving
Credit Lenders (including the Swing Line Lender) exceeds the aggregate
Revolving Credit Commitments then in effect by more than 5%, the Parent
Borrower will, as soon as practicable but in any event within five Business
Days of making such determination, first, make such repayments or
prepayments of Loans (together with interest accrued to the date of such
repayment or prepayment), second, pay any Reimbursement Obligations then
outstanding and, third, cash collateralize any outstanding L/C
Obligations on terms reasonably satisfactory to the Administrative Agent, as
shall be necessary to cause the Aggregate Outstanding Revolving Credit with
respect to all of the Revolving Credit Lenders (including the Swing Line
Lender) to no longer exceed the aggregate Revolving Credit Commitments then in
effect.  If any such repayment or
prepayment of a Eurocurrency Loan pursuant to this subsection occurs on a
day which is not the last day of the then current Interest Period with respect
thereto, the Parent Borrower shall pay to the Revolving Credit Lenders such
amounts, if any, as may be required pursuant to subsection 4.12.

 

(b)           The Administrative Agent will
calculate the Aggregate Outstanding Revolving Credit with respect to all of the
Revolving Credit Lenders (including the Swing Line Lender) from time to time,
and in any event not less frequently than once during each calendar week.  In making such calculations, the
Administrative Agent will rely on the information most recently received by it
from the Swing Line Lender in respect of outstanding Swing Line Loans and from
the Issuing Lender in respect of outstanding L/C Obligations.

 

(c)           In the event that on any date the
Administrative Agent calculates that the Aggregate Outstanding Revolving Credit
with respect to all of the Revolving Credit Lenders (including the Swing Line
Lender) exceeds the aggregate Revolving Credit Commitments then in effect by
more than 5%, the Administrative Agent will give notice to such effect to the
Parent Borrower and the Revolving Credit Lenders.  Following receipt of any such notice, the Parent Borrower will,
as soon as practicable but in any event within five Business Days of receipt of
such notice, first, make such repayments or prepayments of Loans
(together with interest accrued to the date of such repayment or prepayment), second,
pay any Reimbursement Obligations then outstanding and, third, cash
collateralize any outstanding L/C Obligations on terms reasonably satisfactory
to the Administrative Agent as shall be necessary to cause the Aggregate
Outstanding Revolving Credit with respect to all of the Revolving Credit
Lenders (including the Swing Line Lender) to no longer exceed the aggregate
Revolving Credit Commitments then in effect. 
If any such repayment or prepayment of a Eurocurrency Loan pursuant to
this subsection occurs on a day which is not the last day of the then
current Interest Period with

 

72

 

respect
thereto, the Parent Borrower shall pay to the Revolving Credit Lenders such
amounts, if any, as may be required pursuant to subsection 4.12.

 

SECTION 5.           REPRESENTATIONS AND
WARRANTIES.

 

To
induce the Administrative Agent and each Lender to make the Extensions of
Credit requested to be made by it on the Closing Date and on each Borrowing
Date thereafter, the Parent Borrower hereby represents and warrants, on the
Closing Date, in each case after giving effect to the Transactions, and on
every Borrowing Date thereafter to the Administrative Agent and each Lender
that:

 

5.1.          Financial Condition.  (a)  The audited consolidated
balance sheets of VWR and its consolidated Subsidiaries as of December 31,
2001, December 31, 2002 and December 31, 2003 and the related
consolidated statements of income, shareholders’ equity and cash flows for the
fiscal years ended on such dates, reported on by and accompanied by unqualified
reports from KPMG, present fairly, in all material respects, the consolidated
financial condition as at such date, and the consolidated results of operations
and consolidated cash flows for the respective fiscal years then ended, of VWR
and its consolidated Subsidiaries. All such financial statements, including the
related schedules and notes thereto, have been prepared in accordance with GAAP
consistently applied throughout the periods covered thereby (except as approved
by a Responsible Officer, and disclosed in any such schedules and notes, and
subject to the omission of footnotes from such unaudited financial statements).  During the period from December 31,
2003 to and including the Closing Date, except as provided in the Acquisition
Agreement and in connection with the consummation of the Transactions, there
has been no sale, transfer or other disposition by VWR International
Corporation and its consolidated Subsidiaries of any material part of the
business or property of VWR and its consolidated Subsidiaries, taken as a
whole, and no purchase or other acquisition by any of them of any business or
property (including any Capital Stock of any other Person) material in relation
to the consolidated financial condition of VWR and its consolidated
Subsidiaries, taken as a whole, in each case, which is not reflected in the
foregoing financial statements or in the notes thereto and has not otherwise
been disclosed in writing to the Lenders on or prior to the Closing Date.

 

(b)           The pro forma balance sheet and
statements of operations of VWR International, Inc. and its consolidated
Subsidiaries (the “Pro Forma Financial Statements”), copies of which
have heretofore been furnished to each Lender, are the balance sheet and
statements of operations of VWR International, Inc. and its consolidated
Subsidiaries as of December 31, 2003 (the “Pro Forma Date”),
adjusted to give effect (as if such events had occurred on such date for
purposes of the balance sheet and on January 1, 2003 for purposes of the
statement of operations), to the consummation of the Transaction, and the
Extensions of Credit hereunder on the Closing Date.

 

5.2.          No Change; Solvent.  Since December 31, 2003, except as and
to the extent disclosed on Schedule 5.2, (a) there has been no development
or event relating to or affecting any Loan Party which has had or would be
reasonably expected to have a Material Adverse Effect (after giving effect to
(i) the consummation of the Transactions, (ii) the making of the Extensions of
Credit to be made on the Closing Date and the application of the proceeds
thereof as contemplated hereby, and (iii) the payment of actual or estimated
fees, expenses,

 

73

 

financing costs and tax payments related to the transactions
contemplated hereby) and (b) except in connection with the Transactions or as
otherwise permitted under this Agreement or any other Loan Document, and except
for dividends or other distributions by VWR and VWR Pennsylvania made or
declared prior to the Closing Date, no dividends or other distributions have
been declared, paid or made upon the Capital Stock of the Parent Borrower, nor
has any of the Capital Stock of the Parent Borrower been redeemed, retired,
purchased or otherwise acquired for value by the Parent Borrower or any of its
Subsidiaries.  As of the Closing Date,
after giving effect to the consummation of the transactions described in
preceding clauses (i) through (iii) in clause (a) above, each Borrower is
Solvent.

 

5.3.          Corporate Existence; Compliance with
Law.  Each of the Loan
Parties (a) is duly organized, validly existing and in good standing under the
laws of the jurisdiction of its incorporation or formation, (b) has the
corporate power and authority, and the legal right, to own and operate its
property, to lease the property it operates as lessee and to conduct the
business in which it is currently engaged, except to the extent that the failure
to have such legal right would not be reasonably expected to have a Material
Adverse Effect, (c) is duly qualified as a foreign corporation or limited
liability company and in good standing under the laws of each jurisdiction
where its ownership, lease or operation of property or the conduct of its
business requires such qualification, other than in such jurisdictions where
the failure to be so qualified and in good standing would not be reasonably
expected to have a Material Adverse Effect and (d) is in compliance with all
Requirements of Law, except to the extent that the failure to comply therewith
would not, in the aggregate, be reasonably expected to have a Material Adverse
Effect.

 

5.4.          Corporate Power; Authorization; Enforceable
Obligations.  Each Loan Party
has the corporate power and authority, and the legal right, to make, deliver
and perform the Loan Documents to which it is a party and, in the case of each
of the Borrowers, to obtain Extensions of Credit hereunder, and each such Loan
Party has taken all necessary corporate action to authorize the execution,
delivery and performance of the Loan Documents to which it is a party and, in
the case of each of the Borrowers, to authorize the Extensions of Credit to it,
if any, on the terms and conditions of this Agreement, any Notes and the Letter
of Credit Requests.  No consent or
authorization of, filing with, notice to or other similar act by or in respect
of, any Governmental Authority or any other Person is required to be obtained
or made by or on behalf of any Loan Party in connection with the execution,
delivery, performance, validity or enforceability of the Loan Documents to
which it is a party or, in the case of each of the Borrowers, with the
Extensions of Credit to it, if any, hereunder, except for (a) consents,
authorizations, notices and filings described in Schedule 5.4, all of
which have been obtained or made prior to the Closing Date, (b) filings to
perfect the Liens created by the Security Documents, (c) filings pursuant to
the Assignment of Claims Act of 1940, as amended (31 U.S.C. § 3727 et
seq.), in respect of Accounts of the Parent Borrower and its Subsidiaries the
Obligor in respect of which is the United States of America or any department,
agency or instrumentality thereof and (d) consents, authorizations, notices and
filings which the failure to obtain or make would not reasonably be expected to
have a Material Adverse Effect.  This
Agreement has been duly executed and delivered by each of the Borrowers, and
each other Loan Document to which any Loan Party is a party will be duly
executed and delivered on behalf of such Loan Party.  This Agreement constitutes a legal, valid and binding obligation
of each of the Borrowers and each other Loan Document to which any Loan Party
is a party when executed and delivered will constitute a legal, valid and
binding obligation of such Loan Party, enforceable 

 

74

 

against such Loan Party in accordance with its terms, except as
enforceability may be limited by applicable bankruptcy, insolvency,
reorganization, moratorium or similar laws affecting the enforcement of
creditors’ rights generally and by general equitable principles (whether
enforcement is sought by proceedings in equity or at law).

 

5.5.          No Legal Bar.  The execution, delivery and performance of the Loan Documents by
any of the Loan Parties, the Extensions of Credit hereunder and the use of the
proceeds thereof (a) will not violate any Requirement of Law or Contractual
Obligation of such Loan Party in any respect that would reasonably be expected
to have a Material Adverse Effect and (b) will not result in, or require, the
creation or imposition of any Lien (other than the Liens permitted by
subsection 8.3) on any of its properties or revenues pursuant to any such
Requirement of Law or Contractual Obligation.

 

5.6.          No Material Litigation.  No litigation, investigation or proceeding
of or before any arbitrator or Governmental Authority is pending or, to the
knowledge of the Parent Borrower, threatened by or against Holding or any of
its Subsidiaries or against any of their respective properties or revenues, (a)
except as described on Schedule 5.6, which is so pending or threatened at
any time on or prior to the Closing Date and relates to any of the Loan
Documents or any of the transactions contemplated hereby or thereby or (b)
which would be reasonably expected to have a Material Adverse Effect.

 

5.7.          No Default. 
Neither the Parent Borrower nor any of its Subsidiaries is in default
under or with respect to any of its Contractual Obligations in any respect
which would be reasonably expected to have a Material Adverse Effect.  No Default or Event of Default has occurred
and is continuing.

 

5.8.          Ownership of Property; Liens.  Each of the Parent Borrower and its
Subsidiaries has good record and marketable title in fee simple to, or a valid
leasehold interest in, all its material real property, and good title to, or a
valid leasehold interest in, all its other material property, and none of such
property is subject to any Lien, except for Liens permitted by
subsection 8.3.  Except for the
Excluded Properties, the Insured Fee Properties as listed on Part I(a) of
Schedule 5.8 and the Mortgaged Fee Properties as listed on Part I(b) of
Schedule 5.8 together constitute all the material real properties owned in
fee by the Loan Parties as of the Closing Date and the Mortgaged Leased
Properties listed on Part II of Schedule 5.8 constitute all of the
material real properties leased by the Loan Parties as of the Closing Date.

 

5.9.          Intellectual Property.  The Parent Borrower and each of its Subsidiaries owns, or has the
legal right to use, all United States patents, patent applications, trademarks,
trademark applications, trade names, copyrights, technology, know-how and
processes necessary for each of them to conduct its business as currently
conducted (the “Intellectual Property”) except for those the failure to
own or have such legal right to use would not be reasonably expected to have a
Material Adverse Effect.  Except as
provided on Schedule 5.9, no claim has been asserted and is pending by any
Person challenging or questioning the use of any such Intellectual Property or
the validity or effectiveness of any such Intellectual Property, nor does the
Parent Borrower know of any such claim, and, to the knowledge of the Parent
Borrower, the use of such Intellectual Property by the Parent Borrower and its
Subsidiaries does not infringe on

 

75

 

the rights of any Person, except for such claims and infringements
which in the aggregate, would not be reasonably expected to have a Material
Adverse Effect.

 

5.10.        No Burdensome Restrictions.  Neither the Parent Borrower nor any of its
Subsidiaries is in violation of any Requirement of Law or Contractual
Obligation of or applicable to the Parent Borrower or any of its Subsidiaries
that would be reasonably expected to have a Material Adverse Effect.

 

5.11.        Taxes. 
To the knowledge of the Parent Borrower, each of Holding, the Parent
Borrower and its Subsidiaries has filed or caused to be filed all United States
federal income tax returns and all other material tax returns which are
required to be filed and has paid (a) all taxes shown to be due and payable on
such returns and (b) all taxes shown to be due and payable on any assessments
of which it has received notice made against it or any of its property
(including, without limitation, the Mortgaged Properties) and all other taxes,
fees or other charges imposed on it or any of its property by any Governmental
Authority (other than any (i) taxes, fees or other charges with respect to
which the failure to pay, in the aggregate, would not have a Material Adverse
Effect or (ii) taxes, fees or other charges the amount or validity of which are
currently being contested in good faith by appropriate proceedings diligently
conducted and with respect to which reserves in conformity with GAAP have been
provided on the books of Holding, the Parent Borrower or its Subsidiaries, as
the case may be); and no tax Lien has been filed, and no claim is being
asserted, with respect to any such tax, fee or other charge.

 

5.12.        Federal Regulations.  No part of the proceeds of any Extensions of
Credit will be used for any purpose which violates the provisions of the
Regulations of the Board, including without limitation, Regulation T,
Regulation U or Regulation X of the Board. 
If requested by any Lender or the Administrative Agent, the Parent
Borrower will furnish to the Administrative Agent and each Lender a statement
to the foregoing effect in conformity with the requirements of FR Form G-3 or
FR Form U-1, referred to in said Regulation U.

 

5.13.        ERISA. 
During the five year period prior to each date as of which this
representation is made, or deemed made, with respect to any Plan (or, with
respect to (f) or (h) below, as of the date such representation is made or
deemed made), none of the following events or conditions, either individually
or in the aggregate, has resulted or is reasonably likely to result in a
Material Adverse Effect:  (a) a
Reportable Event; (b) an “accumulated funding deficiency” (within the meaning
of Section 412 of the Code or Section 302 of ERISA); (c) any
noncompliance with the applicable provisions of ERISA or the Code; (d) a termination
of a Single Employer Plan (other than a standard termination pursuant to
Section 4041(b) of ERISA); (e) a Lien on the property of the Parent
Borrower or its Subsidiaries in favor of the PBGC or a Plan; (f) any
Underfunding with respect to any Single Employer Plan; (g) a complete or
partial withdrawal from any Multiemployer Plan by the Parent Borrower or any
Commonly Controlled Entity; (h) any liability of the Parent Borrower or any
Commonly Controlled Entity under ERISA if the Parent Borrower or any such
Commonly Controlled Entity were to withdraw completely from all Multiemployer
Plans as of the annual valuation date most closely preceding the date on which
this representation is made or deemed made; or (i) the Reorganization or
Insolvency of any Multiemployer Plan. 
There have been no transactions that resulted or could

 

76

 

reasonably be expected to result in any liability to the Parent
Borrower or any Commonly Controlled Entity under Section 4069 of ERISA or
Section 4212(c) of ERISA.

 

5.14.        Collateral. 
Upon execution and delivery thereof by the parties thereto, the
Guarantee and Collateral Agreement and the Mortgages will be effective to
create (to the extent described therein) in favor of the Administrative Agent,
for the ratable benefit of the Secured Parties, a legal, valid and enforceable
security interest in the Collateral described therein, except as may be limited
by applicable bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium
and other similar laws relating to or affecting creditors’ rights generally,
general equitable principles (whether considered in a proceeding in equity or
at law) and an implied covenant of good faith and fair dealing.  When (a) the actions specified in
Schedule 3 to the Guarantee and Collateral Agreement have been duly taken,
(b) all applicable Instruments, Chattel Paper and Documents (each as described
therein) a security interest in which is perfected by possession have been
delivered to, and/or are in the continued possession of, the Administrative
Agent, (c) all Deposit Accounts, Electronic Chattel Paper and Pledged Stock
(each as defined in the Guarantee and Collateral Agreement) a security interest
in which is required to be or is perfected by “control” (as described in the
Uniform Commercial Code as in effect in the State of New York from time to
time) are under the “control” of the Administrative Agent and (d) the Mortgages
have been duly recorded, the security interests granted pursuant thereto shall
constitute (to the extent described therein) a perfected security interest in,
all right, title and interest of each pledgor or mortgagor (as applicable)
party thereto in the Collateral described therein (excluding Commercial Tort
Claims, as defined in the Guarantee and Collateral Agreement, other than such
Commercial Tort Claims set forth on Schedule 7 thereto (if any)) with
respect to such pledgor or mortgagor (as applicable).  Notwithstanding any other provision of this Agreement,
capitalized terms which are used in this subsection 5.14 and not defined
in this Agreement are so used as defined in the applicable Security Document.

 

5.15.        Investment Company Act; Other
Regulations.  None of the
Borrowers is an “investment company”, or a company “controlled” by an
“investment company”, within the meaning of the Investment Company Act.  None of the Borrowers is subject to
regulation under any Federal or State statute or regulation (other than
Regulation X of the Board) which limits its ability to incur Indebtedness as
contemplated hereby.

 

5.16.        Subsidiaries.  Schedule 5.16 sets forth all the Subsidiaries of Holding at
the Closing Date (after giving effect to the Transactions), the jurisdiction of
their incorporation and the direct or indirect ownership interest of Holding
therein.

 

5.17.        Purpose of Loans.  The proceeds of the Term Loans, shall be
used by the Parent Borrower (a) to finance the Transactions and (b) to pay
certain transaction fees and expenses related to the Transactions.  The proceeds of Revolving Credit Loans and
Swing Line Loans shall be used by the Borrowers to finance the working capital
and business requirements of, and for general corporate purposes of, the Parent
Borrower and its Subsidiaries; provided that no more than the sum of (a)
$15,000,000 and (b) the consolidated cash on hand of the Parent Borrower on the
Closing Date may be used on the Closing Date to (x) finance the Transactions or
(y) pay transaction fees and expenses related to the Transactions.

 

77

 

5.18.        Environmental Matters.  Other than exceptions to any of the
following that would not, individually or in the aggregate, reasonably be
expected to give rise to a Material Adverse Effect:

 

(a)           The Parent Borrower and its Subsidiaries:  (i) are, and within the period of all
applicable statutes of limitation have been, in compliance with all applicable
Environmental Laws; (ii) hold all Environmental Permits (each of which is in
full force and effect) required for any of their current operations or for any
property owned, leased, or otherwise operated by any of them and reasonably
expect to timely obtain without material expense all such Environmental Permits
required for planned operations; (iii) are, and within the period of all
applicable statutes of limitation have been, in compliance with all of their
Environmental Permits; and (iv) have no reason to believe that:  any of their Environmental Permits will not
be, or will entail material expense to be, timely renewed or complied with; any
additional Environmental Permits that may be required of any of them will not
be, or will entail material expense to be, timely granted or complied with; or
that compliance with any Environmental Law that is applicable to any of them
will not be, or will entail material expense to be, timely attained and
maintained.

 

(b)           Materials of Environmental Concern
have not been transported, disposed of, emitted, discharged, or otherwise
released or threatened to be released, to or at any real property presently or
formerly owned, leased or operated by the Parent Borrower or any of its
Subsidiaries or at any other location, which could reasonably be expected to
(i) give rise to liability of the Parent Borrower or any of its Subsidiaries
under any applicable Environmental Law, or (ii) interfere with the Parent
Borrower’s planned or continued operations, or (iii) impair the fair saleable
value of any real property owned or leased by the Parent Borrower or any of its
Subsidiaries.

 

(c)           There is no judicial, administrative,
or arbitral proceeding (including any notice of violation or alleged violation)
under any Environmental Law to which the Parent Borrower or any of its
Subsidiaries is, or to the knowledge of the Parent Borrower or any of its
Subsidiaries will be, named as a party that is pending or, to the knowledge of
the Parent Borrower or any of its Subsidiaries, threatened.

 

(d)           Neither the Parent Borrower nor any
of its Subsidiaries has received any written request for information, or been
notified that it is a potentially responsible party, under the federal
Comprehensive Environmental Response, Compensation, and Liability Act or any
similar Environmental Law, or received any other written request for
information with respect to any Materials of Environmental Concern.

 

(e)           Neither the Parent Borrower nor any
of its Subsidiaries has entered into or agreed to any consent decree, order, or
settlement or other agreement, nor is subject to any judgment, decree, or order
or other agreement, in any judicial, administrative, arbitral, or other forum,
relating to compliance with or liability under any Environmental Law.

 

5.19.        No Material Misstatements.  The written information (including, without
limitation, the Confidential Information Memorandum), reports, financial
statements, exhibits

 

78

 

and schedules furnished by or on behalf of the Parent Borrower to the
Administrative Agent, the Other Representatives and the Lenders in connection
with the negotiation of any Loan Document or included therein or delivered
pursuant thereto, taken as a whole, did not contain as of the Closing Date any
material misstatement of fact and did not omit to state as of the Closing Date
any material fact necessary to make the statements therein, in the light of the
circumstances under which they were made, not materially misleading in their
presentation of the Parent Borrower and its Subsidiaries taken as a whole.  It is understood that (a) no representation
or warranty is made concerning the forecasts, estimates, pro forma information,
projections and statements as to anticipated future performance or conditions,
and the assumptions on which they were based, contained in any such
information, reports, financial statements, exhibits or schedules, except that
as of the date such forecasts, estimates, pro forma information, projections
and statements were generated, (i) such forecasts, estimates, pro forma
information, projections and statements were based on the good faith
assumptions of the management of the Parent Borrower and (ii) such assumptions
were believed by such management to be reasonable and (b) such forecasts,
estimates, pro forma information and statements, and the assumptions on which
they were based, may or may not prove to be correct.

 

5.20.        Delivery of the Acquisition Agreement.  The Parent Borrower has delivered to the
Administrative Agent a complete photocopy of the Acquisition Agreement
(including all exhibits, schedules and disclosure letters referred to therein
or delivered pursuant thereto, if any) and all amendments thereto, waivers
relating thereto and other side letters or agreements affecting the terms
thereof in any material respect.

 

5.21.        Representations
and Warranties Contained in the Acquisition Agreement.  Each of the Transaction Documents will have
been duly executed and delivered by each of the Loan Parties which is a party
thereto prior to the Closing Date and, to the knowledge of the Parent Borrower,
all other parties thereto, and is in full force and effect on the Closing
Date.  As of the Closing Date, the
representations and warranties of Acquisition Corp. and, to the knowledge of
the Parent Borrower, any of the other parties thereto contained in the
Acquisition Agreement (after giving effect to any amendments, supplements,
waivers or other modifications of the Acquisition Agreement prior to the
Closing Date in accordance with this Agreement) are true and correct in all
material respects except as otherwise disclosed to the Administrative Agent in
writing prior to the Closing Date.

 

5.22.        Senior Indebtedness.  The Loans, L/C Obligations and all other
obligations hereunder and under the other Loan Documents constitute “Senior
Indebtedness” and “Designated Senior Indebtedness” under and as defined in the
2004 Senior Subordinated Note Indenture. 
The obligations of each Guarantor under the Guarantee and Collateral
Agreement constitute “Guarantor Senior Indebtedness” of such Guarantor under
and as defined in the 2004 Senior Subordinated Note Indenture.

 

5.23.        Labor Matters.  There are no
strikes pending or, to the knowledge of the Parent Borrower, reasonably
expected to be commenced against the Parent Borrower or any of its Subsidiaries
which, individually or in the aggregate, would reasonably be expected to have a
Material Adverse Effect.  The hours
worked and payments made to employees of the Parent Borrower and each of its
Subsidiaries have not been in violation of any applicable laws, rules or

 

79

 

regulations, except where such violations would not reasonably be
expected to have a Material Adverse Effect.

 

5.24.        Special
Purpose Corporation.  Each of
Holding, Acquisition Corp., Small FSHCo, Large FSHCo and DelawareCo was formed
to effect the Transactions.  Prior to the
consummation of the Transactions, none of Holding nor any of its Subsidiaries
listed in the preceding sentence had any significant assets or liabilities
(except pursuant to the Transaction Documents).

 

SECTION 6.           CONDITIONS PRECEDENT.

 

6.1.          Conditions to Initial Extension of
Credit.  This Agreement,
including, without limitation, the agreement of each Lender to make the initial
Extension of Credit requested to be made by it, shall become effective on the
date on which the following conditions precedent shall have been satisfied or
waived:

 

(a)           Loan Documents.  The Administrative Agent shall have received
the following Loan Documents, executed and delivered as required below, with,
in the case of clause (i), a copy for each Lender:

 

(i)            this Agreement, executed
and delivered by a duly authorized officer of the Parent Borrower;

 

(ii)           the Assumption
Agreement, executed and delivered by a duly authorized officer of each of
Acquisition Corp. and VWR International, Inc.;

 

(iii)          the Guarantee and
Collateral Agreement, executed and delivered by a duly authorized officer of
Holding, the Parent Borrower and each other Loan Party signatory thereto and an
Acknowledgement and Consent in the form attached to the Guarantee and
Collateral Agreement, executed and delivered by each Issuer (as defined
therein), if any, that is not a Loan Party; and

 

(iv)          each of the Mortgages,
executed and delivered by a duly authorized officer of the Loan Party signatory
thereto.

 

(b)           Filing of Merger Documents; Name
Change.

 

(i)            The Administrative Agent shall receive, substantially
concurrently with the satisfaction of the other conditions precedent set forth
in this subsection 6.1, evidence reasonably satisfactory to it that the
certificates of merger with respect to each of the Mergers shall have been
filed with the applicable filing offices, and that each of the Mergers shall
have become effective in accordance with applicable laws; and

 

(ii)           the Administrative Agent shall receive, substantially
concurrently with the satisfaction of the other conditions precedent set forth
in this subsection 6.1, a photocopy of each of the documents filed
publicly with the applicable filing offices in connection with the Mergers; and

 

80

 

(iii)          the Administrative Agent shall receive, substantially
concurrently with the satisfaction of the other conditions precedent set forth
in this subsection 6.1, evidence reasonably satisfactory to it that the
Name Change shall have been made in accordance with applicable law.

 

 

(c)           Acquisition
Agreement.  The Acquisition
Agreement shall not have been amended, supplemented, waived or otherwise
modified in any material respect since the date thereof, except as may have
been consented to in writing by the Administrative Agent, and the
Administrative Agent shall have received a certificate of a duly authorized
officer of Acquisition Corp. dated the Closing Date, which certificate shall be
in form and substance reasonably satisfactory to the Administrative Agent, to
such effect.  None of the conditions to
Acquisition Corp.’s obligations to consummate the Acquisition and the other
transactions contemplated by the Acquisition Agreement shall have been waived
by Acquisition Corp. in any material respect without the prior consent of the
Administrative Agent.

 

(d)           Equity Financing; Note Offering; Etc. 
(i)  The Administrative Agent shall receive, substantially
concurrently with the satisfaction of the other conditions precedent set forth
in this subsection 6.1, evidence in form and substance reasonably
satisfactory to it that the Equity Financing has been consummated.  All material terms and conditions (and the
documentation) in connection with the Equity Financing (including the identity
of any equity investors (excluding Management Investors, CD&R Fund VI, SSB
Capital Partners (Master Fund) I, L.P., CGI Private Equity L.P., LLC and Banc
of America Capital Investors, L.P.)) in Holding, and the relative amounts of
their equity investments in Holding or Investors shall be reasonably satisfactory
to the Administrative Agent.

 

(ii)           (A) The Administrative Agent shall
receive, substantially concurrently with the satisfaction of the other
conditions precedent set forth in this subsection 6.1, evidence, in form
and substance reasonably satisfactory to it, that the Parent Borrower or its
account shall have received gross cash proceeds from the issuance of its 2004
Senior Notes in an aggregate amount of $200,000,000 and from the issuance of
its 2004 Senior Subordinated Notes in an aggregate amount $320,000,000 and (B)
the Parent Borrower shall have delivered to the trustee pursuant to the 2004
Senior Subordinated Note Indenture a writing (a copy of which shall be
furnished to the Administrative Agent and be in form and substance reasonably
satisfactory to it) to the effect that the holders of Senior Indebtedness
pursuant to this Agreement are being designated in writing by the Parent
Borrower to such trustee as Senior Indebtedness the holders of which shall be
required to consent to any amendment to Article XIV and Article XV,
or the definitions related thereto, in the 2004 Senior Subordinated Note
Indenture that adversely affects the rights of the holders of Senior
Indebtedness then outstanding (which designation in writing shall meet the applicable
requirements contained in Section 902 of the 2004 Senior Subordinated Note
Indenture) and (C) the Administrative Agent, on behalf of the Lenders, shall
have received an Officer’s Certificate (as defined in the 2004 Senior
Subordinated Note Indenture), in form and substance reasonably satisfactory to
the Administrative Agent, to the effect that the Incurrence of Indebtedness
(each as defined in the 2004 Senior Subordinated Note Indenture) on the Closing
Date pursuant to this Agreement does not (and that the incurrence of the entire
committed amount hereunder on the Closing Date would not) violate the covenant
contained in Section 407 of the 2004 Senior Subordinated Note Indenture,
and a copy of such certificate shall be delivered to the trustee of the 2004
Senior Subordinated Note Indenture.

 

81

 

(iii)          The Administrative Agent shall
receive, substantially concurrently with the satisfaction of the other
conditions precedent set forth in this subsection 6.1, evidence in form
and substance reasonably satisfactory to it that the Parent Borrower has caused
its Subsidiaries to make the intercompany loans, repayments and transfers
specified on Schedule 6.1(d) (the “Intercompany Transactions”).

 

(iv)          On the Closing Date, the Administrative Agent
shall have received true and correct copies of the 2004 Senior Note Indenture
and the 2004 Senior Subordinated Note Indenture and all Intercompany
Transaction Documents, certified as such by an appropriate officer of Holding,
and such documentation shall be reasonably satisfactory in form and substance
to the Administrative Agent.

 

(e)           Capitalization and Structure of
Holding and its Subsidiaries.  Since the
date of the Acquisition Agreement, except in connection with the Transactions,
there shall have been no material change in the corporate and capital structure
of Holding, the Parent Borrower and their respective Subsidiaries from that
contemplated to exist after giving effect to the Transactions.

 

(f)            Outstanding Indebtedness and Preferred
Equity; No Defaults.  On the Closing
Date and after giving effect to the consummation of the Transactions, Holding
and its Subsidiaries shall have no outstanding preferred equity or
Indebtedness, except for: (i) Indebtedness pursuant to or in respect of
the Loan Documents; (ii) Indebtedness pursuant to the 2004 Senior Note
Indenture and the 2004 Senior Subordinated Note Indenture; (iii) intercompany
Indebtedness incurred pursuant to the Intercompany Transactions; and (iv) such
other existing indebtedness of Holding and its Subsidiaries, if any, as shall
be permitted by the Administrative Agent.

 

(g)           Financial Information. 
The Lenders shall have received copies of and shall be reasonably
satisfied, in form and substance, with (i) the financial statements referred to
in subsection 5.1(a) and (ii) the Pro Forma Financial Statements.

 

(h)           Governmental Approvals and/or
Consents.  The Administrative Agent shall have received
a certificate of a Responsible Officer of the Parent Borrower stating that all
consents, authorizations, notices and filings referred to in Schedule 5.4
are in full force and effect or have the status described therein, and the
Administrative Agent shall have received evidence thereof reasonably
satisfactory to it.

 

(i)            Lien Searches. 
The Administrative Agent shall have received the results of a recent
search by a Person reasonably satisfactory to the Administrative Agent, of the
Uniform Commercial Code, judgment and tax lien filings which have been filed
with respect to personal property of Holding, the Parent Borrower and their
respective Subsidiaries in any of the jurisdictions set forth in
Schedule 6.1(i), and the results of such search shall not reveal any liens
other than liens permitted by subsection 8.3.

 

(j)            Legal Opinions. The Administrative Agent shall
have received the following executed legal opinions:

 

82

 

(i)            the executed legal
opinion of Debevoise & Plimpton, special New York counsel to each of
Holding, the Parent Borrower and the other Loan Parties, substantially in the
form of Exhibit D-1;

 

(ii)           the executed legal
opinion of Richards, Layton & Finger, P.A., special Delaware counsel to
each of Holding, the Parent Borrower and certain other Loan Parties,
substantially in the form of Exhibit D-2;

 

(iii)          the executed legal
opinion of Stephen J. Kunst, Esq., counsel to certain Loan Parties,
substantially in the form of Exhibit D-3; and

 

(iv)          the executed legal
opinions of special local counsel in the jurisdictions set forth in Schedule 6.1(j)
with respect to collateral security matters in connection with the Mortgages,
each in form and substance reasonably satisfactory to the Administrative Agent.

 

(k)           Closing Certificate. 
The Administrative Agent shall have received a certificate from each
Loan Party, dated the Closing Date, substantially in the form of Exhibit J,
with appropriate insertions and attachments.

 

(l)            Actions to Perfect Liens. 
The Administrative Agent shall have received evidence in form and
substance reasonably satisfactory to it that all filings, recordings,
registrations and other actions, including, without limitation, the filing of
duly executed financing statements on Form UCC-1 in each jurisdiction set forth
on Schedule 6.1(l), necessary or, in the reasonable opinion of the
Administrative Agent, advisable to perfect the Liens created by the Security
Documents, shall have been completed or shall be ready to be completed promptly
following the Closing Date, and all agreements, statements and other documents
relating thereto shall be in form and substance reasonably satisfactory to the
Administrative Agent.

 

(m)          Pledged Stock; Stock Powers; Pledged
Notes; Endorsements; Initial Transaction Statements. 
The Administrative Agent shall have received:

 

(i)            the certificates, if
any, representing the Pledged Stock under (and as defined in) the Guarantee and
Collateral Agreement, together with an undated stock power for each such
certificate executed in blank by a duly authorized officer of the pledgor
thereof; and

 

(ii)           the promissory notes
representing each of the Pledged Notes under (and as defined in) the Guarantee
and Collateral Agreement, duly endorsed as required by the Guarantee and
Collateral Agreement.

 

(n)           Title Insurance Policy. 
The Administrative Agent shall have received in respect of each of the
Insured Fee Properties and Mortgaged Leased Properties an irrevocable written
commitment to issue a mortgagee’s title policy (or policies) or marked up
unconditional binder for such insurance dated the Closing Date.  Each such policy shall (i) be in the amount
set forth with respect to such policy in Part I of Schedule 6.1(n); (ii)
insure that the Mortgage insured thereby creates a valid first Lien on the
Mortgaged Property encumbered thereby free

 

83

 

and clear of all defects and encumbrances,
except those permitted by subsections 7.11 and 8.3 and such as may be approved
by the Administrative Agent; (iii) name the Administrative Agent for the
benefit of the Lenders as the insured thereunder; (iv) be in the form of an
ALTA Loan Policy; (v) contain such endorsements and affirmative coverage as
were contained in the ALTA Loan Policy listed with respect to such policy in
Part II of Schedule 6.1(n); and (vi) be issued by title companies
reasonably satisfactory to the Administrative Agent (including any such title
companies acting as co-insurers or reinsurers, at the option of the
Administrative Agent).  The
Administrative Agent shall have received evidence reasonably satisfactory to it
that all premiums in respect of each such policy, and all charges for mortgage
recording tax, if any, have been paid. 
The Administrative Agent shall have also received a copy of all recorded
documents referred to, or listed as exceptions to title in, the title policy or
policies referred to in this subsection and a copy, certified by such
parties as the Administrative Agent may deem reasonably appropriate, of all
other documents affecting the property covered by each Mortgage as shall have
been reasonably requested by the Administrative Agent.

 

(o)           Fees. 
The Agents and the Lenders shall have received all fees and expenses
required to be paid or delivered by the Parent Borrower to them on or prior to
the Closing Date, including, without limitation, the fees referred to in
subsection 4.5.

 

(p)           Borrowing Certificate. 
The Administrative Agent shall have received a certificate from Parent
Borrower, dated the Closing Date, substantially in the form of Exhibit H, with
appropriate insertions and attachments, reasonably satisfactory in form and
substance to the Administrative Agent, executed by a Responsible Officer and
the Secretary or any Assistant Secretary of Parent Borrower.

 

(q)           Corporate Proceedings of the Loan
Parties.  The Administrative Agent shall have received
a copy of the resolutions, in form and substance reasonably satisfactory to the
Administrative Agent, of the board of directors of each Loan Party authorizing,
as applicable, (i) the execution, delivery and performance of this
Agreement, any Notes and the other Loan Documents to which it is or will be a
party as of the Closing Date, (ii) the Extensions of Credit to such Loan Party
(if any) contemplated hereunder and (iii) the granting by it of the Liens to be
created pursuant to the Security Documents to which it will be a party as of
the Closing Date, certified by the Secretary or an Assistant Secretary of such
Loan Party as of the Closing Date, which certificate shall be in form and
substance reasonably satisfactory to the Administrative Agent and shall state
that the resolutions thereby certified have not been amended, modified (except
as any later such resolution may modify any earlier such resolution), revoked
or rescinded and are in full force and effect.

 

(r)            Incumbency Certificates of the Loan
Parties.  The Administrative Agent shall have received
a certificate of each Loan Party, dated the Closing Date, as to the incumbency
and signature of the officers of such Loan Party executing any Loan Document,
reasonably satisfactory in form and substance to the Administrative Agent
executed by a Responsible Officer and the Secretary or any Assistant Secretary
of such Loan Party.

 

(s)           Governing Documents. 
The Administrative Agent shall have received copies of the certificate
or articles of incorporation and by-laws (or other similar governing documents
serving the same purpose) of each Loan Party, certified as of the Closing Date
as

 

84

 

complete and correct copies thereof by the
Secretary or an Assistant Secretary of such Loan Party.

 

(t)            Insurance. 
The Administrative Agent shall have received evidence in form and
substance reasonably satisfactory to it that all of the requirements of
subsection 7.5 of this Agreement and subsection 5.2.2 of the Guarantee
and Collateral Agreement shall have been satisfied.

 

(u)           No Material Adverse Effect. 
Nothing shall have occurred since February 15, 2004, after giving
effect to the Transactions, that has had, or would reasonably be expected to
have, a Material Adverse Effect.

 

(v)           No Material Litigation. 
No litigation by any entity (private or governmental) shall be pending
or threatened with respect to this Agreement or any documentation executed in
connection herewith, or with respect to the Transactions, which has had, or
would reasonably be expected to have, a Material Adverse Effect.

 

(w)          Flood Insurance. 
With respect to any of the Mortgaged Properties which is located in an
area identified by the Secretary of Housing and Urban Development as having
special flood hazards, if the Administrative Agent shall have delivered
notice(s) to the relevant Loan Party as required pursuant to
Section 208.8(e)(3) of Regulation H of the Board, such Loan Party shall
have delivered an acknowledgment to the Administrative Agent.

 

(x)            Tax Sharing Agreement. 
Investors, Holding and the Parent Borrower shall have entered into the
Tax Sharing Agreement.  The
Administrative Agent shall have received a complete and correct copy of the Tax
Sharing Agreement, certified as to authenticity by the Parent Borrower.

 

The
making of the initial Extensions of Credit by the Lenders hereunder shall
conclusively be deemed to constitute an acknowledgement by the Administrative
Agent and each Lender that each of the conditions precedent set forth in this
subsection 6.1 shall have been satisfied in accordance with its respective
terms or shall have been irrevocably waived by such Person (other than as
otherwise required by subsection 7.13 of this Agreement).

 

6.2.          Conditions to Each Other Extension
of Credit.  The agreement of
each Lender to make any Extension of Credit requested to be made by it on any
date (including, without limitation, the initial Extension of Credit and each
Swing Line Loan) is subject to the satisfaction or waiver of the following conditions
precedent:

 

(a)           Representations
and Warranties.  Each of the
representations and warranties made by any Loan Party pursuant to this
Agreement or any other Loan Document (or in any amendment, modification or
supplement hereto or thereto) to which it is a party, and each of the
representations and warranties contained in any certificate furnished at any
time by or on behalf of any Loan Party pursuant to this Agreement or any other
Loan Document, shall, except to the extent that they relate to a particular
date, be true and correct in all material respects on and as of such date as if
made on and as of such date.

 

85

 

(b)           No Default. 
No Default or Event of Default shall have occurred and be continuing on
such date or after giving effect to the Extensions of Credit requested to be
made on such date.

 

(c)           Letter of Credit Request. 
With respect to the issuance of any Letter of Credit, the Issuing Lender
shall have received a Letter of Credit Request, completed to its satisfaction,
and such other certificates, documents and other papers and information as the
Issuing Lender may reasonably request.

 

Each
borrowing of Loans by and Letter of Credit issued on behalf of any of the
Borrowers hereunder shall constitute a representation and warranty by the
Parent Borrower as of the date of such borrowing or such issuance that the
conditions contained in this subsection 6.2 have been satisfied.

 

6.3.          Additional
Conditions Applicable to Foreign Subsidiary Borrowers.  The agreement of each Lender to make any
Extension of Credit requested to be made by it to any Foreign Subsidiary
Borrower on any date (including, without limitation, the initial Extension of
Credit) is subject to satisfaction or waiver of, in addition to the conditions
precedent set forth in subsections 6.1 (in the case of the initial Extension of
Credit) and 6.2, the following conditions precedent:  (a) in the case of the making of any Extension of Credit to any Foreign
Subsidiary Borrower for the first time, the delivery to the Administrative
Agent, with a copy for each Lender, of (i) the executed legal opinion of
counsel to such Foreign Subsidiary Borrower, as to the matters set forth in
Exhibit D-4 and otherwise in form and substance reasonably satisfactory to the
Administrative Agent and (ii) in the case of any Foreign Subsidiary Borrower,
guarantee, collateral and security documents, in form and substance reasonably
satisfactory to the Administrative Agent, executed and delivered by a duly
authorized officer of such Foreign Subsidiary Borrower and each of its
Subsidiaries, and such other documents, instruments and agreements as may be
reasonably requested by the Administrative Agent and (b) the truthfulness and
correctness in all material respects on and as of such date of the following
additional representations and warranties:

 

(i)            Pari Passu.  The obligations of such Foreign Subsidiary
Borrower under this Agreement and any Note, when executed and delivered by such
Foreign Subsidiary Borrower, will rank at least pari  passu with
all other secured Indebtedness of such Foreign Subsidiary Borrower.

 

(ii)           No Immunities, etc.  Such
Foreign Subsidiary Borrower is subject to civil and commercial law with respect
to its obligations under this Agreement and any Note, and the execution,
delivery and performance by such Foreign Subsidiary Borrower of this Agreement
constitute and will constitute private and commercial acts and not public or
governmental acts.  Neither such Foreign
Subsidiary Borrower nor any of its property, whether or not held for its own
account, has any immunity (sovereign or other similar immunity) from any suit
or proceeding, from jurisdiction of any court or from set-off or any legal
process (whether service or notice, attachment prior to judgment, attachment in
aid of execution of judgment, execution of judgment or other similar immunity)
under the laws of the jurisdiction in which such Foreign Subsidiary Borrower is

 

86

 

organized and existing in respect of its
obligations under this Agreement or any Note. 
Such Foreign Subsidiary Borrower has, pursuant to subsection 11.14,
waived every immunity (sovereign or otherwise) to which it or any of its properties
would otherwise be entitled from any legal action, suit or proceeding, from
jurisdiction of any court or from set-off or any legal process (whether service
or notice, attachment prior to judgment, attachment in aid of execution of
judgment, execution of judgment or otherwise) under the laws of the
jurisdiction in which such Foreign Subsidiary Borrower is organized and
existing in respect of its obligations under this Agreement and any Note.  The waiver by such Foreign Subsidiary
Borrower described in the immediately preceding sentence is the legal, valid
and binding obligation of such Foreign Subsidiary Borrower.

 

(iii)          No Recordation
Necessary.  This Agreement and each
Note, if any, is in proper legal form under the laws of the jurisdiction in
which such Foreign Subsidiary Borrower is organized and existing for the
enforcement hereof or thereof against such Foreign Subsidiary Borrower under
the laws of such jurisdiction, and to ensure the legality, validity,
enforceability, priority or admissibility in evidence of this Agreement and any
such Note.  It is not necessary to
ensure the legality, validity, enforceability, priority or admissibility in
evidence of this Agreement and any such Note that this Agreement, any Note or
any other document be filed, registered or recorded with, or executed or notarized
before, any court or other authority in the jurisdiction in which such Foreign
Subsidiary Borrower is organized and existing or that any registration charge
or stamp or similar tax be paid on or in respect of this Agreement, any Note or
any other document, except for any such filing, registration or recording, or
execution or notarization, as has been made or is not required to be made until
this Agreement, any Note or any other document is sought to be enforced and for
any charge or tax as has been timely paid.

 

(iv)          Exchange Controls.  The execution, delivery and performance by
such Foreign Subsidiary Borrower of this Agreement, any Note or the other Loan
Documents is, under applicable foreign exchange control regulations of the
jurisdiction in which such Foreign Subsidiary Borrower is organized and
existing, not subject to any notification or authorization except such as have
been made or obtained or cannot be made or obtained until a later date.

 

Each
borrowing by any Foreign Subsidiary Borrower hereunder shall constitute a
representation and warranty by each of the Parent Borrower and such Foreign
Subsidiary Borrower as of the date of such borrowings that the conditions
contained in this subsection 6.3 have been satisfied.

 

SECTION 7.           AFFIRMATIVE COVENANTS.

 

The
Parent Borrower hereby agrees that, from and after the Closing Date and so long
as the Revolving Credit Commitments remain in effect, and thereafter until
payment in full of the Loans, all Reimbursement Obligations and any other
amount then due and owing to any Lender or the Administrative Agent hereunder
and under any Note and termination or expiration

 

87

 

of
all Letters of Credit, the Parent Borrower shall and (except in the case of
delivery of financial information, reports and notices) shall cause each of its
Subsidiaries to:

 

7.1.          Financial Statements.  Furnish to the Administrative Agent for
delivery to each Lender (and the Administrative Agent agrees to make and so
deliver such copies):

 

(a)           as soon as available, but in any
event not later than the fifth Business Day after the 90th day following the
end of each fiscal year of the Parent Borrower ending on or after
December 31, 2004, a copy of the consolidated balance sheet of the Parent Borrower
and its consolidated Subsidiaries as at the end of such year and the related
consolidated statements of operations, changes in common stockholders’ equity
and cash flows for such year, setting forth in each case, in comparative form
the figures for and as of the end of the previous year, reported on without a
“going concern” or like qualification or exception, or qualification arising
out of the scope of the audit, by KPMG or other independent certified public
accountants of nationally recognized standing not unacceptable to the
Administrative Agent in its reasonable judgment (it being agreed that the
furnishing of the Parent Borrower’s annual report on Form 10-K for such year,
as filed with the Securities and Exchange Commission, will satisfy the Parent
Borrower’s obligation under this subsection 7.1(a) with respect to such
year except with respect to the requirement that such financial statements be
reported on without a “going concern” or like qualification or exception, or
qualification arising out of the scope of the audit); and

 

(b)           as soon as available, but in any
event not later than the fifth Business Day after the 45th day (or (x) in the
case of the quarterly period ended March 31, 2004, the 75th day
or (y) in the case of the quarterly periods ended, respectively, June 30,
2004 and September 30, 2004, the 60th day) following the end of
each of the first three quarterly periods of each fiscal year of the Parent
Borrower, the unaudited consolidated balance sheet of the Parent Borrower and
its consolidated Subsidiaries as at the end of such quarter and the related
unaudited consolidated statements of operations and cash flows of the Parent
Borrower and its consolidated Subsidiaries for such quarter and the portion of
the fiscal year through the end of such quarter, certified by a Responsible
Officer of Holding as being fairly stated in all material respects (subject to
normal year-end audit and other adjustments) (it being agreed that the
furnishing of the Parent Borrower’s quarterly report on Form 10-Q for such
quarter, as filed with the Securities and Exchange Commission, will satisfy the
Parent Borrower’s obligations under this subsection 7.1(b) with respect to
such quarter);

 

(c)           all such financial statements
delivered pursuant to subsection 7.1(a) or (b) to be (and, in the case of
any financial statements delivered pursuant to subsection 7.1(b) shall be
certified by a Responsible Officer of the Parent Borrower as being) complete
and correct in all material respects in conformity with GAAP and to be (and, in
the case of any financial statements delivered pursuant to
subsection 7.1(b) shall be certified by a Responsible Officer of the
Parent Borrower as being) prepared in reasonable detail in accordance with GAAP
applied consistently throughout the periods reflected therein and with prior
periods that began on or after the Closing Date (except as approved by such
accountants or officer, as the case may be, and disclosed therein, and except,
in the case of any financial statements delivered pursuant to
subsection 7.1(b), for the absence of certain notes).

 

88

 

7.2.          Certificates; Other Information.  Furnish to the Administrative Agent for
delivery to each Lender (and the Administrative Agent agrees to make and so
deliver such copies):

 

(a)           concurrently with the delivery of
the financial statements referred to in subsection 7.1(a), a certificate
of the independent certified public accountants reporting on such financial
statements stating that in making the audit necessary therefor no knowledge was
obtained of any Default or Event of Default insofar as the same relates to any
financial accounting matters covered by their audit, except as specified in
such certificate;

 

(b)           concurrently with the delivery of
the financial statements and reports referred to in subsections 7.1(a) and (b),
a certificate signed by a Responsible Officer of each of Holding and the Parent
Borrower (i) stating that, to the best of such Responsible Officer’s knowledge,
each of Holding, the Parent Borrower and their respective Subsidiaries during
such period has observed or performed all of its covenants and other
agreements, and satisfied every condition, contained in this Agreement or the
other Loan Documents to which it is a party to be observed, performed or
satisfied by it, and that such Responsible Officer has obtained no knowledge of
any Default or Event of Default, except, in each case, as specified in such
certificate, and (ii) setting forth the calculations required to determine (A)
compliance with all covenants set forth in subsection 8.1 (in the case of
a certificate furnished with the financial statements referred to in
subsections 7.1(a) and (b)), and (B) compliance with the covenant set forth in
subsection 8.8 and calculations necessary to determine the amount of
required prepayment with respect to such fiscal year pursuant to
subsection 4.4(c) (in the case of a certificate furnished with the
financial statements referred to in subsection 7.1(a));

 

(c)           as soon as available, but in any
event not later than the fifth Business Day following the 90th day after the
beginning of each fiscal year of the Parent Borrower, a copy of the projections
by the Parent Borrower of the operating budget and cash flow budget of the
Parent Borrower and its Subsidiaries for such fiscal year, such projections to
be accompanied by a certificate of a Responsible Officer of the Parent Borrower
to the effect that such Responsible Officer believes such projections to have
been prepared on the basis of reasonable assumptions;

 

(d)           within five Business Days after the
same are sent, copies of all financial statements and reports which Holding or
the Parent Borrower sends to its public security holders, and within five
Business Days after the same are filed, copies of all financial statements and
periodic reports which Holding or the Parent Borrower may file with the
Securities and Exchange Commission or any successor or analogous Governmental
Authority;

 

(e)           within five Business Days after the
same are filed, copies of all registration statements and any amendments and
exhibits thereto, which Holding or the Parent Borrower may file with the
Securities and Exchange Commission or any successor or analogous Governmental
Authority, and such other documents or instruments as may be reasonably
requested by the Administrative Agent in connection therewith; and

 

(f)            promptly, such additional financial
and other information as any Lender may from time to time reasonably request.

 

89

 

7.3.          Payment of Obligations.  Pay, discharge or otherwise satisfy at or
before maturity or before they become delinquent, as the case may be, all its
material obligations of whatever nature, except where the amount or validity
thereof is currently being contested in good faith by appropriate proceedings
diligently conducted and reserves in conformity with GAAP with respect thereto
have been provided on the books of Holding or any of its Subsidiaries, as the
case may be.

 

7.4.          Conduct
of Business and Maintenance of Existence.  Continue to engage in business of the same
general type as conducted by the Parent Borrower and its Subsidiaries on the
Closing Date, taken as a whole, and preserve, renew and keep in full force and
effect its corporate existence and take all reasonable action to maintain all
rights, privileges and franchises necessary or desirable in the normal conduct
of the business of the Parent Borrower and its Subsidiaries, taken as a whole,
except as otherwise expressly permitted pursuant to subsection 8.5, provided
that the Parent Borrower and its Subsidiaries shall not be required to maintain
any such rights, privileges or franchises, if the failure to do so would not
reasonably be expected to have a Material Adverse Effect; and comply with all
Contractual Obligations and Requirements of Law except to the extent that
failure to comply therewith, in the aggregate, would not reasonably be expected
to have a Material Adverse Effect.

 

7.5.          Maintenance
of Property; Insurance. 
Keep all property useful and necessary in the business of the Parent
Borrower and its Subsidiaries, taken as a whole, in good working order and
condition; maintain with financially sound and reputable insurance companies
insurance on all property material to the business of the Parent Borrower and
its Subsidiaries, taken as a whole, in at least such amounts and against at
least such risks (but including in any event public liability, product
liability and business interruption) as are usually insured against in the same
general area by companies engaged in the same or a similar business; and
furnish to the Administrative Agent, upon written request, information in
reasonable detail as to the insurance carried.

 

7.6.          Inspection
of Property; Books and Records; Discussions.  Keep proper books of records and account in
which full, complete and correct entries in conformity with GAAP and all
material Requirements of Law shall be made of all dealings and transactions in
relation to its business and activities; and permit representatives of any
Lender to visit and inspect any of its properties and examine and, to the
extent reasonable, make abstracts from any of its books and records and to
discuss the business, operations, properties and financial and other condition
of the Parent Borrower and its Subsidiaries with officers and employees of the
Parent Borrower and its Subsidiaries and with its independent certified public
accountants, in each case at any reasonable time, upon reasonable notice, and
as often as may reasonably be desired.

 

7.7.          Notices.  Promptly give notice to the Administrative
Agent and each Lender of:

 

(a)           as soon as possible after a
Responsible Officer of the Parent Borrower knows or reasonably should know
thereof, the occurrence of any Default or Event of Default;

 

90

 

(b)           as soon as possible after a
Responsible Officer of the Parent Borrower knows or reasonably should know
thereof, any (i) default or event of default under any Contractual Obligation
of the Parent Borrower or any of its Subsidiaries, other than as previously
disclosed in writing to the Lenders, or (ii) litigation, investigation or
proceeding which may exist at any time between the Parent Borrower or any of
its Subsidiaries and any Governmental Authority, which in either case, if not
cured or if adversely determined, as the case may be, would reasonably be
expected to have a Material Adverse Effect;

 

(c)           as soon as possible after a
Responsible Officer of the Parent Borrower knows or reasonably should know
thereof, the occurrence of any default or event of default under any of the
2004 Senior Note Documents or 2004 Senior Subordinated Note Documents;

 

(d)           as soon as possible after a
Responsible Officer of the Parent Borrower knows or reasonably should know
thereof, any litigation or proceeding affecting Holding or any of its
Subsidiaries in which the amount involved (not covered by insurance) is
$7,500,000 or more or in which injunctive or similar relief is sought that
would reasonably be expected to have a Material Adverse Effect;

 

(e)           the following events, as soon as
possible and in any event within 30 days after a Responsible Officer of the
Parent Borrower or any of its Subsidiaries knows or reasonably should know
thereof:  (i) the occurrence or expected
occurrence of any Reportable Event with respect to any Single Employer Plan, a
failure to make any required contribution to a Single Employer Plan or
Multiemployer Plan, the creation of any Lien on the property of the Parent
Borrower or its Subsidiaries in favor of the PBGC or a Plan or any withdrawal
from, or the termination, Reorganization or Insolvency of, any Multiemployer
Plan; (ii) the institution of proceedings or the taking of any other formal
action by the PBGC or the Parent Borrower or any of its Subsidiaries or any
Commonly Controlled Entity or any Multiemployer Plan which could reasonably be
expected to result in the withdrawal from, or the termination, Reorganization
or Insolvency of, any Single Employer Plan or Multiemployer Plan; provided, however,
that no such notice will be required under clause (i) or (ii) above unless the
event giving rise to such notice, when aggregated with all other such events
under clause (i) or (ii) above, could be reasonably expected to result in
liability to the Parent Borrower or its Subsidiaries in an amount that would
exceed $7,500,000; or (iii) the first occurrence of an Underfunding under a
Single Employer Plan that exceeds 10% of the value of the assets of such Single
Employer Plan, in each case, determined as of the most recent annual valuation
date of such Single Employer Plan on the basis of the actuarial assumptions
used to determine the funding requirements of such Single Employer Plan as of
such date;

 

(f)            as soon as possible after a
Responsible Officer of the Parent Borrower knows or reasonably should know
thereof, any material adverse change in the business, operations, property,
condition (financial or otherwise) or prospects of the Parent Borrower and its
Subsidiaries taken as a whole; and

 

(g)           as soon as possible after a
Responsible Officer of the Parent Borrower knows or reasonably should know
thereof, (i) any release or discharge by the Parent Borrower or any of its
Subsidiaries of any Materials of Environmental Concern required to be reported
under applicable Environmental Laws to any Governmental Authority, unless the
Parent Borrower

 

91

 

reasonably determines that the total
Environmental Costs arising out of such release or discharge are unlikely to
exceed $7,500,000 or to have a Material Adverse Effect; (ii) any condition,
circumstance, occurrence or event not previously disclosed in writing to the
Administrative Agent that could result in liability under applicable
Environmental Laws, unless the Parent Borrower reasonably determines that the
total Environmental Costs arising out of such condition, circumstance,
occurrence or event are unlikely to exceed $7,500,000 or to have a Material
Adverse Effect, or could reasonably be expected to result in the imposition of
any lien or other material restriction on the title, ownership or
transferability of any facilities and properties owned, leased or operated by
the Parent Borrower or any of its Subsidiaries; and (iii) any proposed action
to be taken by the Parent Borrower or any of its Subsidiaries that would
reasonably be expected to subject the Parent Borrower or any of its
Subsidiaries to any material additional or different requirements or
liabilities under Environmental Laws, unless the Parent Borrower reasonably
determines that the total Environmental Costs arising out of such proposed
action are unlikely to exceed $7,500,000 or to have a Material Adverse Effect.

 

Each
notice pursuant to this subsection shall be accompanied by a statement of
a Responsible Officer of the Parent Borrower (and, if applicable, the relevant
Commonly Controlled Entity or Subsidiary) setting forth details of the
occurrence referred to therein and stating what action the Parent Borrower (or,
if applicable, the relevant Commonly Controlled Entity or Subsidiary) proposes
to take with respect thereto.

 

7.8.          Environmental
Laws.  (a)  (i) Comply substantially with, and require
substantial compliance by all tenants, subtenants, contractors, and invitees
with, all applicable Environmental Laws; (ii) obtain, comply substantially
with and maintain any and all Environmental Permits necessary for its
operations as conducted and as planned; and (iii) require that all tenants,
subtenants, contractors, and invitees obtain, comply substantially with and
maintain any and all Environmental Permits necessary for their operations as
conducted and as planned, with respect to any property leased or subleased
from, or operated by the Parent Borrower or its Subsidiaries.  For purposes of this subsection 7.8(a),
noncompliance shall be deemed not to constitute a breach of this covenant, provided
that, upon learning of any actual or suspected noncompliance, the Parent
Borrower and any such affected Subsidiary shall promptly undertake reasonable
efforts, if any, to achieve compliance, and provided, further,
that in any case such noncompliance would not reasonably be expected to have a
Material Adverse Effect.

 

(b)           Promptly comply, in all material
respects, with all orders and directives of all Governmental Authorities
regarding Environmental Laws, other than such orders or directives as to which
an appeal or other appropriate contest is or has been timely and properly
taken, is being diligently pursued in good faith, and as to which appropriate
reserves have been established in accordance with GAAP, and, if the
effectiveness of such order or directive has not been stayed, the pendency of
such appeal or other appropriate contest does not give rise to a Material
Adverse Effect.

 

(c)           Maintain, update as appropriate, and
implement in all material respects an ongoing program reasonably designed to
ensure that all the properties and operations of the Parent Borrower and its
Subsidiaries are regularly and reasonably reviewed by competent professionals
to identify and promote compliance with and to reasonably and prudently manage
any liabilities or potential liabilities under any Environmental Law that may
affect the Parent

 

92

 

Borrower
or any of its Subsidiaries, including, without limitation, compliance and
liabilities relating to:  discharges to
air and water; acquisition, transportation, storage and use of hazardous
materials; waste disposal; repair, maintenance and improvement of properties;
employee health and safety; species protection; and recordkeeping.

 

7.9.          After-Acquired
Real Property and Fixtures. 
(a)  With respect to any owned real property or fixtures, in
each case with a purchase price or a fair market value of at least $2,000,000,
in which the Parent Borrower or any of its Subsidiaries or any Foreign
Subsidiary Borrower (other than a Foreign Subsidiary, a Subsidiary of a Foreign
Subsidiary, or a Receivables Subsidiary, in each case which is not a Foreign
Subsidiary Borrower) acquires ownership rights at any time after the Closing
Date, promptly grant to the Administrative Agent, for the benefit of the
Lenders, a Lien of record on all such owned real property and fixtures, upon
terms reasonably satisfactory in form and substance to the Administrative Agent
and in accordance with any applicable requirements of any Governmental
Authority (including, without limitation, any required appraisals of such
property under FIRREA); provided that (i) nothing in this
subsection 7.9 shall defer or impair the attachment or perfection of any
security interest in any Collateral covered by any of the Security Documents
which would attach or be perfected pursuant to the terms thereof without action
by the Parent Borrower, any of its Subsidiaries or any other Person, (ii) no such
Lien shall be required to be granted as contemplated by this
subsection 7.9 on any owned real property or fixtures the acquisition of
which is financed, or is to be financed within any time period permitted by
subsection 8.2(e) or (f), in whole or in part through the incurrence of
Indebtedness permitted by subsection 8.2(e) or (f), until such
Indebtedness is repaid in full (and not refinanced as permitted by
subsection 8.2(e) or (f)) or, as the case may be, the Parent Borrower
determines not to proceed with such financing or refinancing and (iii) any such
mortgage by a Foreign Subsidiary Borrower shall not secure any other Borrower’s
obligations.  In connection with any
such grant to the Administrative Agent, for the benefit of the Lenders, of a
Lien of record on any such real property in accordance with this subsection,
the Parent Borrower or such Subsidiary shall deliver or cause to be delivered
to the Administrative Agent any surveys, title insurance policies,
environmental reports and other documents in connection with such grant of such
Lien obtained by it in connection with the acquisition of such ownership rights
in such real property or as the Administrative Agent shall reasonably request
(in light of the value of such real property and the cost and availability of
such surveys, title insurance policies, environmental reports and other
documents and whether the delivery of such surveys, title insurance policies,
environmental reports and other documents would be customary in connection with
such grant of such Lien in similar circumstances).

 

(b)           With respect to any Domestic
Subsidiary created or acquired (including by reason of any Foreign Subsidiary
Holdco ceasing to constitute same) subsequent to the Closing Date by the Parent
Borrower or any of its Domestic Subsidiaries (other than a Subsidiary of a
Foreign Subsidiary), promptly notify the Administrative Agent of such
occurrence and, if the Administrative Agent or the Required Lenders so request,
promptly (i) execute and deliver to the Administrative Agent for the benefit of
the Lenders such amendments to the Guarantee and Collateral Agreement as the
Administrative Agent shall reasonably deem necessary or reasonably advisable to
grant to the Administrative Agent, for the benefit of the Lenders, a perfected
first priority security interest (as and to the extent provided in the
Guarantee and Collateral Agreement) in the Capital Stock of such new Domestic
Subsidiary, (ii) deliver (or, in the case of a Receivables Subsidiary, cause to
be delivered) to the Administrative Agent the

 

93

 

certificates
(if any) representing such Capital Stock, together with undated stock powers,
executed and delivered in blank by a duly authorized officer of the parent
corporation of such new Domestic Subsidiary and (iii) unless such Subsidiary is
a Receivables Subsidiary, cause such new Domestic Subsidiary (A) to become a
party to the Guarantee and Collateral Agreement and (B) to take all actions
reasonably deemed by the Administrative Agent to be necessary or advisable to
cause the Lien created by the Guarantee and Collateral Agreement in such new
Domestic Subsidiary’s Collateral to be duly perfected in accordance with all
applicable Requirements of Law, including, without limitation, the filing of
financing statements in such jurisdictions as may be reasonably requested by
the Administrative Agent.

 

(c)           With respect to any Foreign
Subsidiary created or acquired subsequent to the Closing Date by the Parent
Borrower or any of its Domestic Subsidiaries, the Capital Stock of which is
owned directly by the Parent Borrower or a Domestic Subsidiary (other than a
Receivables Subsidiary or a Subsidiary of a Foreign Subsidiary), promptly
notify the Administrative Agent of such occurrence and if the Administrative
Agent or the Required Lenders so request (it being understood that if the
Administrative Agent does not so request with respect to any such Foreign
Subsidiary that it believes is or is likely to become material to the Parent
Borrower and its Subsidiaries taken as a whole, it will provide notice to the
Lenders thereof), promptly (i) execute and deliver to the Administrative Agent
a new pledge agreement or such amendments to the Guarantee and Collateral
Agreement as the Administrative Agent shall reasonably deem necessary or
reasonably advisable to grant to the Administrative Agent, for the benefit of
the Lenders, a perfected first priority security interest (as and to the extent
provided in the Guarantee and Collateral Agreement) in the Capital Stock of
such new Foreign Subsidiary that is owned by the Parent Borrower or any of its
Domestic Subsidiaries (other than a Receivables Subsidiary or a Subsidiary of a
Foreign Subsidiary) (provided that in no event shall more than 65% of the Capital
Stock of any such new Foreign Subsidiary be required to be so pledged and,
provided, further, that no such pledge or security shall be required with
respect to any non-wholly owned Foreign Subsidiary to the extent that the grant
of such pledge or security interest would violate the terms of any agreements
under which the Investment by the Parent Borrower or any of its Subsidiaries
was made therein) and (ii) to the extent reasonably deemed advisable by the
Administrative Agent, deliver to the Administrative Agent the certificates, if
any, representing such Capital Stock, together with undated stock powers,
executed and delivered in blank by a duly authorized officer of the relevant
parent corporation of such new Foreign Subsidiary and take such other action as
may be reasonably deemed by the Administrative Agent to be necessary or
desirable to perfect the Administrative Agent’s security interest therein.

 

(d)           At its own expense, execute,
acknowledge and deliver, or cause the execution, acknowledgement and delivery
of, and thereafter register, file or record in an appropriate governmental
office, any document or instrument reasonably deemed by the Administrative
Agent to be necessary or desirable for the creation, perfection and priority
and the continuation of the validity, perfection and priority of the foregoing
Liens or any other Liens created pursuant to the Security Documents.

 

(e)           At its own expense, request, and use
commercially reasonable efforts to obtain, (i) a consent, substantially in the
form of Exhibit I or such other form as may be reasonably satisfactory to the
Administrative Agent, from the landlord of each of the existing

 

94

 

facilities
located in the United States and listed in Schedule 7.9(e) in which
Inventory with a value in excess of $3,000,000 of any Loan Party is located, as
of the Closing Date, in which such landlord acknowledges the Administrative
Agent’s first priority security interest in the Inventory pledged by each Loan
Party to the Administrative Agent for the benefit of the Lenders and
(ii) prior to entering into a lease of a facility located in the United
States in which Inventory will be located on or after the Closing Date (other
than any such facility for which there is not a lease of more than one year and
which the Parent Borrower and its Subsidiaries intend to use as a seasonal
storage facility), a consent, substantially in the form of Exhibit I or such
other form as may be reasonably satisfactory to the Administrative Agent, from
each landlord of any such facility, in which such landlord acknowledges the
Administrative Agent’s first priority security interest in the Inventory
pledged by each Loan Party to the Administrative Agent for the benefit of the
Lenders.

 

(f)            Notwithstanding anything to contrary
in this Agreement, nothing in this subsection 7.9 shall require that any
Foreign Subsidiary Borrower grant a Lien with respect to any owned real
property or fixtures in which such Subsidiary acquires ownership rights to the extent
that the Administrative Agent, in its reasonable judgment, determines that the
granting of such a Lien is impracticable.

 

7.10.        Interest
Rate Protection.  No later than
90 days following the Closing Date, enter into Interest Rate Protection
Agreements, which, together with the fixed interest rates then applicable to
the Consolidated Funded Indebtedness of Holding and its Subsidiaries, shall
provide interest rate protection in respect of at least 50% of the Consolidated
Funded Indebtedness of Holding and its Subsidiaries.  Such Interest Rate Protection Agreements shall be in form and
substance, and for a term (not to exceed two years), reasonably satisfactory to
the Administrative Agent.

 

7.11.        Surveys.  Within a reasonable period following the
Closing Date, with respect to those Insured Fee Properties and Mortgaged Leased
Properties for which the title policies delivered pursuant to
subsection 6.1(n) contain the standard “survey exception”, obtain surveys
in such form as is sufficient to obtain from the respective title companies
endorsements which have the effect of deleting such exceptions.

 

7.12.        Maintenance
of New York Process Agent. 
In the case of any Foreign Subsidiary Borrower, maintain in
New York, New York or at such other location in the United States of
America as may be reasonably satisfactory to the Administrative Agent a Person
acting as agent to receive on its behalf and on behalf of its property service
of process and capable of discharging the functions of the New York
Process Agent set forth in subsection 11.13(b).

 

7.13.        Consummation
of Transactions.  The Borrower
hereby agrees to cause the consummation of each of the Acquisition, the
Mergers, the Assumption (in accordance with the Assumption Agreement) and the
Name Change to occur on the Closing Date or on the next calendar day,
substantially concurrently with the satisfaction of the conditions precedent
set forth in subsection 6.1.

 

SECTION 8.           NEGATIVE COVENANTS.  The Parent Borrower hereby agrees that, from
and after the Closing Date and so long as the Revolving Credit Commitments
remain

 

95

 

in effect, and thereafter until payment in full of the Loans, all
Reimbursement Obligations and any other amount then due and owing to any Lender
or the Administrative Agent hereunder and under any Note and termination or
expiration of all Letters of Credit, the Parent Borrower shall not and shall
not, permit any of its Subsidiaries to, directly or indirectly:

 

8.1.          Financial Condition Covenants.

 

(a)           Consolidated Leverage Ratio. 
Permit the Consolidated Leverage Ratio as at the last day of any period
of four consecutive fiscal quarters of the Parent Borrower ending during any
period set forth below to exceed the ratio set forth below opposite such period
below:

 

	
  Period

  	
   

  	
  Consolidated

  Leverage Ratio

  	
   

  
	
  July 1, 2004 – December 30, 2005

  	
   

  	
  7.25 to 1.00

  	
   

  
	
  December 31, 2005 – December 30,
  2006

  	
   

  	
  7.00 to 1.00

  	
   

  
	
  December 31, 2006 – December 30,
  2007

  	
   

  	
  6.50 to 1.00

  	
   

  
	
  December 31, 2007 – December 30,
  2008

  	
   

  	
  6.00 to 1.00

  	
   

  
	
  December 31, 2008 – December 30,
  2009

  	
   

  	
  5.50 to 1.00

  	
   

  
	
  December 31, 2009 and thereafter

  	
   

  	
  5.00 to 1.00

  	
   

  

 

(b)           Maintenance of Consolidated Interest
Expense Ratio.  Permit, for any period of four consecutive
fiscal quarters of the Parent Borrower ending during any period set forth
below, the Consolidated Interest Expense Ratio as at the last day of such
period of four consecutive fiscal quarters to be less than the ratio set forth
opposite such period below:

 

	
  Period

  	
   

  	
  Consolidated

  Interest Expense Ratio

  	
   

  
	
  July 1, 2004 – December 30, 2005

  	
   

  	
  1.80 to 1.00

  	
   

  
	
  December 31, 2005 – December 30,
  2006

  	
   

  	
  1.90 to 1.00

  	
   

  
	
  December 31, 2006 – December 30,
  2007

  	
   

  	
  2.00 to 1.00

  	
   

  
	
  December 31, 2007 – December 30,
  2008

  	
   

  	
  2.10 to 1.00

  	
   

  
	
  December 31, 2008 – December 30,
  2009

  	
   

  	
  2.20 to 1.00

  	
   

  
	
  December 31, 2009 – December30, 2010

  	
   

  	
  2.30 to 1.00

  	
   

  
	
  December 31, 2010 and thereafter

  	
   

  	
  2.40 to 1.00

  	
   

  

 

8.2.          Limitation
on Indebtedness.  Create, incur,
assume or suffer to exist any Indebtedness (including any Indebtedness of any
of its Subsidiaries), except:

 

(a)           Indebtedness of each of the
Borrowers incurred pursuant to this Agreement and the other Loan Documents;

 

(b)           unsecured senior subordinated or
subordinated notes or debentures of the Parent Borrower in a principal amount
not to exceed $100,000,000, which either (i) have terms, representations,
covenants, defaults and subordination provisions that are no less favorable to
the Lenders than those applicable to offerings of “high-yield” subordinated
debt by similar issuers of similar debt at or about the same time, as may be
reasonably determined by the Administrative

 

96

 

Agent, or (ii) have No More Favorable Terms
and Conditions than those in respect of the 2004 Senior Subordinated Notes; provided,
however, that all such Indebtedness (together with any refinancings
thereof, which shall not exceed the principal amount being refinanced) shall,
at the time such Indebtedness is incurred or refinanced, (i) have a final,
stated maturity (and an Average Life) at least one year after the Final
Maturity Date (as of the time of such incurrence or refinancing), and (ii) in
the case of Indebtedness incurred to refinance other Indebtedness, have terms
and provisions (including subordination provisions) no less favorable to the
Lenders than the Indebtedness being refinanced; provided  further
that an amount equal to 100% of the Net Cash Proceeds of such Indebtedness
(other than any refinancing Indebtedness referred to in clause (ii) above) less
any Permitted Acquisition Amount is applied in accordance with
subsection 4.4(b)(i);

 

(c)           Indebtedness evidenced by the
Existing Notes; provided that (x) the aggregate principal amount of
Indebtedness at any time outstanding pursuant to this clause (c) shall not
exceed $520,000,000 (except as a
result of any capitalization of accrued and unpaid interest thereon, including
through the issuance of pay-in-kind notes) less any repayments of
principal of Indebtedness theretofore outstanding pursuant to this clause (c)
(other than repayments to the extent made with proceeds received by the Parent
Borrower from any cash equity contribution by Holding to the Parent Borrower
occurring after the Closing Date or from the issuance or incurrence of
Refinancing Senior Notes and/or Refinancing Subordinated Notes) and (y) the
aggregate amount of senior (as opposed to senior subordinated) Indebtedness
outstanding at any time pursuant to this clause (c) shall not exceed
$200,000,000 (except as a result of
any capitalization of accrued and unpaid interest thereon, including through
the issuance of pay-in-kind notes) less the amount of any reductions
pursuant to clause (x) of this proviso as a result of repayments of theretofore
outstanding senior Indebtedness as described in preceding clause (x) of this
proviso, provided that the Existing Notes shall not be extended,
renewed, replaced, refinanced or otherwise amended, except as permitted by
subsection 8.14;

 

(d)           Indebtedness of the Parent Borrower
to any Guarantor or any Subsidiary of the Parent Borrower and of any Subsidiary
of the Parent Borrower to the Parent Borrower, any Guarantor or any other
Subsidiary of the Parent Borrower;

 

(e)           Indebtedness of the Parent Borrower
and any of its Subsidiaries incurred to finance or refinance the acquisition of
fixed or capital assets (whether pursuant to a loan, a Financing Lease or
otherwise) otherwise permitted pursuant to this Agreement, and any other
Financing Leases, in an aggregate principal amount not exceeding in the
aggregate as to the Parent Borrower and its Subsidiaries $35,000,000 at any one
time outstanding, provided that such amount shall be increased by an
amount equal to $5,000,000 on each anniversary of the Closing Date, so long as
no Default or Event of Default shall have occurred and be continuing on any
date on which such amount is to be increased and, provided further such
Indebtedness is incurred substantially simultaneously with such acquisition or
within six months after such acquisition or in connection with a refinancing
thereof;

 

(f)            Indebtedness of the Parent Borrower
and any of its Subsidiaries incurred to finance or refinance the purchase price
of, or Indebtedness of the Parent Borrower and any of its Subsidiaries assumed
in connection with, any acquisition permitted by subsection 8.10 (other
than permitted pursuant to subsection 8.10(c)), provided that (i)
such Indebtedness is incurred

 

97

 

prior to, substantially simultaneously with
or within six months after such acquisition or in connection with a refinancing
thereof, (ii) if such Indebtedness is owed to a Person, other than the Person
from whom such acquisition is made or any Affiliate thereof, such Indebtedness
shall have terms and conditions reasonably satisfactory to the Administrative
Agent and shall not exceed 70% of the purchase price of such acquisition
(including any Indebtedness assumed in connection with such acquisition) (or
such greater percentage as shall be reasonably satisfactory to the
Administrative Agent or, if any such purchase price shall be greater than
$30,000,000, such greater percentage as shall be reasonably satisfactory to the
Required Lenders) and (iii) immediately after giving effect to such acquisition
no Default or Event of Default shall have occurred and be continuing;

 

(g)           to the extent that any Indebtedness
may be incurred or arise thereunder, Indebtedness of the Parent Borrower and
its Subsidiaries under Interest Rate Protection Agreements and under Permitted
Hedging Arrangements;

 

(h)           other Indebtedness outstanding or
incurred under facilities in existence on the Closing Date and listed on
Schedule 8.2(h), and any refinancings, replacements, refundings, renewals
or extensions thereof on financial and other terms, in the reasonable judgment
of the Parent Borrower, no more onerous to the Parent Borrower or any of its
Subsidiaries in the aggregate than the financial and other terms of such
Indebtedness, provided that the amount of such Indebtedness is not
increased at the time of such refinancing, replacements, refunding, renewal or
extension except by an amount equal to the premium or other amounts paid, and
fees and expenses incurred, in connection with such refinancing, refunding,
renewal or extension;

 

(i)            to the extent that any Guarantee
Obligation permitted under subsection 8.4 constitutes Indebtedness, such
Indebtedness;

 

(j)            Indebtedness of the Parent Borrower
or any of its Subsidiaries pursuant to any Permitted Receivables Transaction; provided
that upon the effectiveness of any such Permitted Receivables Transaction, the
Loans shall be automatically prepaid, the L/C Obligations shall be
automatically cash collateralized and the Revolving Credit Commitments shall be
automatically and permanently reduced to the extent required by subsections
4.4(e), 4.4(f) and 4.4(h);

 

(k)           Indebtedness of Foreign Subsidiaries
of the Parent Borrower (in addition to Indebtedness of Foreign Subsidiaries of
the Parent Borrower permitted by subsections 8.2(h) and (l)) for working
capital purposes (including in respect of overdrafts) not exceeding, as to all
such Foreign Subsidiaries, €40,000,000 in aggregate principal amount at any one
time outstanding;

 

(l)            Indebtedness of Foreign Subsidiaries
of the Parent Borrower (in addition to Indebtedness of Foreign Subsidiaries of
the Parent Borrower permitted by subsections 8.2(h) and (k)) in respect of
performance bonds, bid bonds, appeal bonds, surety bonds and similar
obligations and trade-related letters of credit, in each case provided in the
ordinary course of business, not exceeding, as to all such Foreign
Subsidiaries, €20,000,000 in aggregate principal amount at any one time
outstanding;

 

98

 

(m)          Indebtedness of the Parent Borrower
or any of its Subsidiaries in respect of Sale and Leaseback Transactions
permitted under subsection 8.12;

 

(n)           Indebtedness of the Parent Borrower
or any of its Subsidiaries incurred to finance insurance premiums in the
ordinary course of business;

 

(o)           Indebtedness of any Foreign
Subsidiary of the Parent Borrower fully supported on the date of the incurrence
thereof by a Foreign Backstop Letter of Credit;

 

(p)           Indebtedness arising from the
honoring of a check, draft or similar instrument against insufficient funds; provided
that such Indebtedness is extinguished within two Business Days of its
incurrence;

 

(q)           Indebtedness in respect of Financing
Leases which have been funded solely by Investments of the Parent Borrower and
its Subsidiaries permitted by subsection 8.9(m); and

 

(r)            Indebtedness not otherwise permitted
by the preceding clauses of this subsection 8.2 not exceeding $25,000,000
in aggregate principal amount at any one time outstanding.

 

For
purposes of determining compliance with this subsection 8.2, the amount of
any Indebtedness denominated in any currency other than Dollars (or in the case
of clauses (i) and (l) above, other than Euros) shall be calculated based on
customary currency exchange rates in effect, in the case of such Indebtedness
incurred (in respect of term Indebtedness) or committed (in respect of
revolving Indebtedness) on or prior to the Closing Date, on the Closing Date
and, in the case of such Indebtedness incurred (in respect of term
Indebtedness) or committed (in respect of revolving Indebtedness) after the
Closing Date, on the date that such Indebtedness was incurred (in respect of
term Indebtedness) or committed (in respect of revolving Indebtedness).

 

8.3.          Limitation on
Liens.  Create, incur, assume or
suffer to exist any Lien upon any of its property, assets or revenues, whether
now owned or hereafter acquired, except for (Liens described below are herein
referred to as “Permitted Liens”):

 

(a)           Liens for taxes, assessments and
similar charges not yet delinquent or the nonpayment of which in the aggregate
would not reasonably be expected to have a Material Adverse Effect, or which
are being contested in good faith by appropriate proceedings diligently
conducted and adequate reserves with respect thereto are maintained on the
books of the Parent Borrower or its Subsidiaries, as the case may be, in
conformity with GAAP;

 

(b)           carriers’, warehousemen’s,
mechanics’, materialmen’s, repairmen’s or other like Liens arising in the
ordinary course of business and relating to obligations which are not overdue
for a period of more than 60 days or which are being contested in good faith by
appropriate proceedings diligently conducted;

 

(c)           Liens of landlords or of mortgagees
of landlords arising by operation of law or pursuant to the terms of real
property leases, provided that the rental payments secured thereby are
not yet due and payable;

 

99

 

(d)           pledges, deposits or other Liens in
connection with workers’ compensation, unemployment insurance, other social
security benefits or other insurance related obligations (including, without
limitation, pledges or deposits securing liability to insurance carriers under
insurance or self-insurance arrangements);

 

(e)           Liens arising by reason of any
judgment, decree or order of any court or other Governmental Authority, if
appropriate legal proceedings which may have been duly initiated for the review
of such judgment, decree or order, are being diligently prosecuted and shall
not have been finally terminated or the period within which such proceedings
may be initiated shall not have expired;

 

(f)            Liens to secure the performance of
bids, trade contracts (other than for borrowed money), obligations for
utilities, leases, statutory obligations, surety and appeal bonds, performance
bonds, judgment and like bonds, replevin and similar bonds and other
obligations of a like nature incurred in the ordinary course of business;

 

(g)           zoning restrictions, easements,
rights-of-way, restrictions on the use of property, other similar encumbrances
incurred in the ordinary course of business and minor irregularities of title,
which do not materially interfere with the ordinary conduct of the business of
the Parent Borrower and its Subsidiaries taken as a whole;

 

(h)           Liens securing or consisting of
Indebtedness of the Parent Borrower and its Subsidiaries permitted by
subsection 8.2(e) incurred to finance the acquisition of fixed or capital
assets or Indebtedness of the Parent Borrower and its Subsidiaries permitted by
subsection 8.2(f) incurred to finance the purchase price of, or assumed in
connection with, any acquisition permitted by subsection 8.10, provided
that (i) such Liens shall be created no later than the later of the date of
such acquisition or the date of the incurrence or assumption of such
Indebtedness, and (ii) such Liens do not at any time encumber any property
other than the property financed by such Indebtedness and, in the case of
Indebtedness assumed in connection with any such acquisition, the property
subject thereto immediately prior to such acquisition;

 

(i)            Liens existing on assets or
properties at the time of the acquisition thereof by the Parent Borrower or any
of its Subsidiaries which do not materially interfere with the use, occupancy,
operation and maintenance of structures existing on the property subject
thereto or extend to or cover any assets or properties of the Parent Borrower
or such Subsidiary other than the assets or property being acquired;

 

(j)            Liens (i) in existence on the
Closing Date and listed in Schedule 8.3(j) and other Liens securing Indebtedness
of the Parent Borrower and its Subsidiaries permitted by
subsection 8.2(h), provided that no such Lien is spread to cover
any additional property after the Closing Date and that the amount of
Indebtedness secured thereby is not increased except as permitted by
subsection 8.2(h), or (ii) not otherwise permitted hereunder, all of which
Liens permitted pursuant to this subsection 8.3(j)(ii) secure obligations
not exceeding (as to the Parent Borrower and all of its Subsidiaries)
$15,000,000 in aggregate amount at any time outstanding;

 

100

 

(k)           Liens securing Guarantee Obligations
permitted under subsection 8.4(f) not exceeding (as to the Parent Borrower
and all of its Subsidiaries) $7,500,000 in aggregate amount at any time
outstanding;

 

(l)            Liens created pursuant to the
Security Documents;

 

(m)          Liens created pursuant to and in
accordance with any Permitted Receivables Transaction;

 

(n)           any encumbrance or restriction
(including, without limitation, put and call agreements) with respect to the
Capital Stock of any joint venture or similar arrangement pursuant to the joint
venture or similar agreement with respect to such joint venture or similar
arrangement, provided that no such encumbrance or restriction affects in
any way the ability of the Parent Borrower or any of its Subsidiaries to comply
with subsection 7.9(b) or (c);

 

(o)           Liens on property subject to Sale
and Leaseback Transactions permitted under subsection 8.12 and general
intangibles related thereto;

 

(p)           Liens on property of any Foreign
Subsidiary of the Parent Borrower securing Indebtedness of such Foreign
Subsidiary permitted by subsection 8.2(k) or (l), provided that in
no event may property of any Foreign Subsidiary Borrower (or its Subsidiaries)
secure Indebtedness (other than Indebtedness under this Agreement and the other
Loan Documents) having an aggregate principal amount (as to such Foreign
Subsidiary Borrower and all of its Subsidiaries) in excess of $5,000,000; and

 

(q)           Liens on Intellectual Property or on
foreign patents, trademarks, trade names, copyrights, technology, know-how or
processes; provided that such Liens result from the granting of licenses
in the ordinary course of business to any Person to use such Intellectual
Property or such foreign patents, trademarks, trade names, copyrights,
technology, know-how or processes, as the case may be.

 

8.4.          Limitation
on Guarantee Obligations. 
Create, incur, assume or suffer to exist any Guarantee Obligation
except:

 

(a)           Guarantee Obligations in existence
on the Closing Date and listed in Schedule 8.4(a), and any refinancings,
refundings, extensions or renewals thereof, provided that the amount of
such Guarantee Obligation shall not be increased at the time of such
refinancing, refunding, extension or renewal except to the extent that the
amount of Indebtedness in respect of such Guarantee Obligations is permitted to
be increased by subsection 8.2(h);

 

(b)           Guarantee Obligations in connection
with up to an aggregate principal amount of $15,000,000 of Indebtedness
outstanding at any time incurred by any Management Investors in connection with
any Management Subscription Agreements or other purchases by them of Capital
Stock of Investors (so long as Investors applies the net cash proceeds of such
purchases to make capital contributions to, or purchase Capital Stock of,
Holding or applies such proceeds to pay Investors Expenses) or Holding, and any
refinancings, refundings, extensions or renewals thereof; provided that
such amount shall be reduced by the aggregate then outstanding principal amount
of loans and advances permitted by subsection 8.9(o);

 

101

 

(c)           Guarantee Obligations for
performance, appeal, judgment, replevin and similar bonds and suretyship
arrangements, all in the ordinary course of business;

 

(d)           Guarantee Obligations in respect of
indemnification and contribution agreements expressly permitted by
subsection 8.11(iv) or similar agreements by the Parent Borrower;

 

(e)           Reimbursement Obligations in respect
of the Letters of Credit;

 

(f)            Guarantee Obligations in respect of
third-party loans and advances to officers or employees of the Parent Borrower
or any of its Subsidiaries (i) for travel and entertainment expenses incurred
in the ordinary course of business, (ii) for relocation expenses incurred in
the ordinary course of business, or (iii) for other purposes in an aggregate
amount (as to Holding and all of its Subsidiaries), together with the aggregate
amount of all Investments permitted under subsection 8.9(e)(iv), of up to
$7,500,000 outstanding at any time;

 

(g)           obligations to insurers required in
connection with worker’s compensation and other insurance coverage incurred in
the ordinary course of business;

 

(h)           obligations of the Parent Borrower
and its Subsidiaries under any Interest Rate Protection Agreements or under
Permitted Hedging Arrangements;

 

(i)            Guarantee Obligations incurred in
connection with acquisitions permitted under subsection 8.10, provided
that if any such Guarantee Obligation inures to the benefit of any Person other
than the Person from whom such acquisition is made or any Affiliate thereof,
such Guarantee Obligation shall not exceed, with respect to any such
acquisition, 70% of the purchase price of such acquisition (including any
Indebtedness assumed in connection with any such acquisition) (or such greater
percentage as shall be reasonably satisfactory to the Administrative Agent or,
if any such purchase price shall be greater than $30,000,000, such greater
percentage shall be reasonably satisfactory to the Required Lenders);

 

(j)            guarantees made by the Parent
Borrower or any of its Subsidiaries of obligations of the Parent Borrower or
any of its Subsidiaries (other than any Indebtedness outstanding pursuant to
subsections 8.2(b), (c), (k) and (l)) which obligations are otherwise permitted
under this Agreement;

 

(k)           Guarantee Obligations in connection
with sales or other dispositions permitted under subsection 8.6, including
indemnification obligations with respect to leases, and guarantees of
collectability in respect of accounts receivable or notes receivable for up to
face value;

 

(l)            Guarantee Obligations incurred
pursuant to the Guarantee and Collateral Agreement or otherwise in respect of
Indebtedness permitted by subsection 8.2(a);

 

(m)          Guarantees by one or more Guarantors
(so long as such Persons remain Guarantors) of Indebtedness permitted pursuant
to subsections 8.2(b) and (c), provided that (except in respect of any then
outstanding 2004 Senior Notes) (x) in the case of such Guarantees set forth in
the 2004 Senior Subordinated Note Documents, such Guarantees are subordinated
to

 

102

 

Indebtedness outstanding pursuant to this
Agreement and other Loan Documents as set forth therein and (y) in the case of
such Guarantees of Indebtedness permitted pursuant to subsection 8.2(b),
such Guarantees are subordinated to Indebtedness outstanding pursuant to this
Agreement and other Loan Documents in the manner required by either sub-clauses
(i) or (ii) of subsection 8.2(b);

 

(n)           accommodation guarantees for the
benefit of trade creditors of the Parent Borrower or any of its Subsidiaries in
the ordinary course of business;

 

(o)           Guarantee Obligations of the Parent
Borrower and its Subsidiaries in respect of recourse events in connection with
any Permitted Receivables Transaction; and

 

(p)           Guarantee Obligations in respect of
Indebtedness of a Person in connection with a joint venture or similar
arrangement in respect of which no other co-investor or other Person has a
greater legal or beneficial ownership interest than the Parent Borrower or any
of its Subsidiaries, and as to all of such Persons does not at any time exceed
$20,000,000 in aggregate principal amount; provided that (i) such amount
shall be increased by an amount equal to $5,000,000 on each anniversary of the
Closing Date, so long as no Default or Event of Default shall have occurred and
be continuing on any date on which such amount is to be increased and (ii) such
amount and any increase in such amount permitted by clause (i) shall be reduced
by the aggregate amount of Investments permitted by subsection 8.9(l).

 

8.5.          Limitation
on Fundamental Changes.  Enter
into any merger, consolidation or amalgamation, or liquidate, wind up or
dissolve itself (or suffer any liquidation or dissolution), or convey, sell,
lease, assign, transfer or otherwise dispose of, all or substantially all of
its property, business or assets, except:

 

(a)           any Subsidiary of the Parent Borrower
may be merged or consolidated with or into the Parent Borrower (provided
that the Parent Borrower shall be the continuing or surviving corporation) or
with or into any one or more Wholly Owned Subsidiaries of the Parent Borrower (provided
that the Wholly Owned Subsidiary or Subsidiaries of the Parent Borrower shall
be the continuing or surviving entity);

 

(b)           any Subsidiary of the Parent
Borrower may sell, lease, transfer or otherwise dispose of any or all of its
assets (upon voluntary liquidation or otherwise) to the Parent Borrower or any
Wholly Owned Subsidiary of the Parent Borrower, provided that if the
Subsidiary that so disposes of its assets is a Foreign Subsidiary Borrower,
either (i) such Foreign Subsidiary Borrower shall, simultaneously with such
disposition, repay in full all outstanding Loans made to it and terminate its
right to borrow hereunder or (ii) the transferee of such assets shall be a
Foreign Subsidiary Borrower;

 

(c)           pursuant to the Mergers; and

 

(d)           as expressly permitted by subsection 8.6.

 

8.6.          Limitation
on Sale of Assets.  Convey,
sell, lease, assign, transfer or otherwise dispose of any of its property,
business or assets (including, without limitation, receivables and leasehold
interests), whether now owned or hereafter acquired, or, in the case of

 

103

 

any Subsidiary of the Parent Borrower, issue or sell any shares of such
Subsidiary’s Capital Stock, to any Person other than the Parent Borrower or any
Wholly Owned Subsidiary of the Parent Borrower, except:

 

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

 

(b)           the sale or other Disposition of any
property (including Inventory) in the ordinary course of business;

 

(c)           the sale or discount without
recourse of accounts receivable or notes receivable arising in the ordinary
course of business, or the conversion or exchange of accounts receivable into
or for notes receivable, in connection with the compromise or collection
thereof; provided that, in the case of any Foreign Subsidiary of the Parent
Borrower, any such sale or discount may be with recourse if such sale or
discount is consistent with customary practice in such Foreign Subsidiary’s
country of business;

 

(d)           as permitted by
subsection 8.5(b) and pursuant to Sale and Leaseback Transactions
permitted by subsection 8.12;

 

(e)           the sale, transfer or discount of
Receivables pursuant to any Permitted Receivables Transaction; provided that
upon the effectiveness of any such Permitted Receivables Transaction, the Loans
shall be prepaid, the L/C Obligations shall be cash collateralized and the
Revolving Credit Commitments shall be permanently reduced to the extent
required by subsections 4.4(e), 4.4(f) and 4.4(h);

 

(f)            Dispositions of any assets or
property by the Parent Borrower or any of its Subsidiaries to the Parent
Borrower or any Wholly Owned Subsidiary of the Parent Borrower;

 

(g)           the abandonment or other Disposition
of patents, trademarks or other intellectual property that are, in the
reasonable judgment of the Parent Borrower, no longer economically practicable
to maintain or useful in the conduct of the business of the Parent Borrower and
its Subsidiaries taken as a whole;

 

(h)           any Asset Sale by the Parent
Borrower or any of its Subsidiaries, provided that the Net Cash Proceeds of
each such Asset Sale do not exceed $5,000,000 and the aggregate Net Cash
Proceeds of all Asset Sales in any fiscal year made pursuant to this paragraph
(h) do not exceed $10,000,000; and

 

(i)            any Asset Sale contemplated on
Schedule 8.6(i), or any other Asset Sales by the Parent Borrower or any of
its Subsidiaries the Net Cash Proceeds of which other Asset Sales do not exceed
$35,000,000 in the aggregate after the Closing Date, provided that in the case
of any such Asset Sale, an amount equal to 100% of the Net Cash Proceeds of
such Asset Sale less the Reinvested Amount is applied in accordance with
subsection 4.4(b)(ii).

 

8.7.          Limitation
on Dividends.  Declare or pay
any dividend (other than dividends payable solely in common stock of the Parent
Borrower or options, warrants or other rights to purchase common stock of the
Parent Borrower) on, or make any payment on account

 

104

 

of, or set apart assets for a sinking or other analogous fund for, the
purchase, redemption, defeasance, retirement or other acquisition of, any
shares of any class of Capital Stock of the Parent Borrower or any warrants or
options to purchase any such Capital Stock, whether now or hereafter
outstanding, or make any other distribution (other than distributions payable
solely in common stock of the Parent Borrower or options, warrants or other
rights to purchase common stock of the Parent Borrower) in respect thereof,
either directly or indirectly, whether in cash or property or in obligations of
the Parent Borrower, except that:

 

(a)           the Parent Borrower may pay cash
dividends in an amount sufficient to allow Investors, Holding or Small FSHCo to
pay expenses (other than taxes) incurred in the ordinary course of business; provided
that, if Investors shall own any material assets other than the Capital Stock
of Holding or other assets, relating to the ownership interest of Investors in
Holding or Subsidiaries of Holding, such cash dividends with respect to
Investors shall be limited to the reasonable and proportional share, as
determined by the Parent Borrower in its reasonable discretion, of such
expenses incurred by Investors relating or allocable to its ownership interest
in Holding and such other related assets; provided, further, that, if
Holding shall own any material assets other than the Capital Stock of the
Parent Borrower and Small FSHCo or other assets relating to the ownership
interest of Holding in the Parent Borrower, Small FSHCo or Subsidiaries of the
Parent Borrower, such cash dividends with respect to Holding shall be limited
to the reasonable and proportional share, as determined by the Parent Borrower
in its reasonable discretion, of such expenses incurred by Holding relating or
allocable to its ownership interest in the Parent Borrower, Small FSHCo and
such other related assets;

 

(b)           the Parent Borrower may pay cash
dividends in an amount sufficient to cover reasonable and necessary expenses
(including professional fees and expenses) (other than taxes) incurred by
Investors, Holding or Small FSHCo in connection with (a) registration, public
offerings and exchange listing of equity or debt securities and maintenance of the
same, (b) compliance with reporting obligations under, or in connection with
compliance with, federal or state laws or under this Agreement or any of the
other Loan Documents and (c) indemnification and reimbursement of directors,
officers and employees in respect of liabilities relating to their serving in
any such capacity, or obligations in respect of director and officer insurance
(including premiums therefor); provided that, in the case of sub-clause
(a) above, if Investors shall own any material assets other than the Capital
Stock of Holding or other assets relating to the ownership interest of
Investors in Holding or its Subsidiaries, with respect to Investors such cash
dividends shall be limited to the reasonable and proportional share, as determined
by the Parent Borrower in its reasonable discretion, of such expenses incurred
by Investors relating or allocable to its ownership interest in Holding and
such other assets; provided, further, that, in the
case of sub-clause (a) above, if Holding shall own any material assets other
than the Capital Stock of the Parent Borrower and Small FSHCo or other assets
relating to the ownership interest of Holding in the Parent Borrower or
Subsidiaries of the Parent Borrower and Small FSHCo, such cash dividends with
respect to Holding shall be limited to the reasonable and proportional share,
as determined by the Parent Borrower in its reasonable discretion, of such
expenses incurred by Holding relating or allocable to its ownership interest in
the Parent Borrower, Small FSHCo and such other related assets;

 

(c)           the Parent Borrower may pay, without
duplication, (i) cash dividends to Holding in an amount equal to (x)(A) the
taxes Holding is required to pay to any taxing authority

 

105

 

and (B) the amounts due from Holding in accordance with the Tax Sharing
Agreement, (y) the taxes Small FSHCo is required to pay to any taxing authority
and (z) (A) the amount of taxes Investors is required to pay to any taxing
authority and (B) the amounts due from Investors in accordance with the Tax
Sharing Agreement (provided that, if Investors shall own any material
asset other than the Capital Stock of Holding (or other assets relating to the
ownership interest of Investors in Holding or Subsidiaries of Holding), taxes
calculated under clause (z)(A) above, other than taxes relating to its being
incorporated or having Capital Stock outstanding, shall be limited to the
reasonable and proportional share, as determined by the Parent Borrower in its
reasonable discretion, of such taxes (for this purpose, giving effect to
payments in respect of taxes received by Investors under preceding clause
(z)(B) and/or following clause (ii)) and provided, further, that,
if Holding shall own any material asset other than the Capital Stock of the
Parent Borrower and Small FSHCo (or other assets relating to the ownership
interest of Holding in Parent Borrower or Subsidiaries of the Parent Borrower),
taxes calculated under clause (x)(A) above, other than taxes relating to its
being incorporated or having Capital Stock outstanding, shall be limited to the
reasonable and proportional share, as determined by the Parent Borrower in its
reasonable discretion, of such taxes (for this purpose, giving effect to payments
in respect of taxes received by Holding under preceding clause (x)(B) and/or
following clause (ii)) payable by or on behalf of Holding relating or allocable
to its ownership interest in the Parent Borrower, Small FSHCo and such other
assets) and (ii) to Holding and Investors all amounts due from the Parent
Borrower to Holding and Investors, respectively, in accordance with the terms
of the Tax Sharing Agreement (for the purposes of this subsection 8.7(c),
the term “taxes” shall include additions to taxes and interest on and penalties
with respect to taxes);

 

(d)           the Parent Borrower may pay cash
dividends in an amount sufficient to allow Investors or Holding to repurchase
shares of its Capital Stock or rights, options or units in respect thereof from
any Management Investors or former Management Investors (or any of their
respective heirs, successors, assigns, legal representatives or estates), or as
otherwise contemplated by any Management Subscription Agreements, for an
aggregate purchase price not to exceed $10,000,000 from and after the Closing
Date; provided that such amount shall be increased by (i) an amount
equal to $3,000,000 on each anniversary of the Closing Date, commencing on the
first anniversary of the Closing Date, and (ii) an amount equal to the proceeds
to Holding (whether received by it directly or from Investors or applied to pay
Investors Expenses) of any resales or new issuances of shares and options to
any Management Investors, at any time after the initial issuances to any
Management Investors, together with the aggregate amount of deferred
compensation owed by Holding or any of its Subsidiaries to any Management
Investor that shall thereafter have been cancelled, waived or exchanged at any
time after the initial issuances to any thereof in connection with the grant to
such Management Investor of the right to receive or acquire shares of
Investors’, or Holding’s Capital Stock; and

 

(e)           the Parent Borrower may pay cash
dividends in an amount sufficient to allow Holding and Small FSHCo to pay all
fees and expenses incurred in connection with the Transactions and the other
transactions expressly contemplated by this Agreement and the other Loan
Documents, and to allow Holding to perform its obligations under or in
connection with the Loan Documents to which it is a party.

 

8.8.          Limitation
on Capital Expenditures.  Make
or commit to make any Capital Expenditures (excluding any expenses incurred in
connection with normal replacement and

 

106

 

maintenance programs properly charged to current operations and
Reinvested Amounts with respect to any Recovery Event, both of which shall be
permitted without regard to the limits of this subsection 8.8); provided
that the Parent Borrower and its Subsidiaries may make Capital Expenditures in
an amount not to exceed, for any period set forth below, the amount set forth
opposite such period below:

 

	
  Period

  	
   

  	
  Amount

  	
   

  
	
  January 1, 2004 to and including
  December 31, 2004

  	
   

  	
  $

  	
  45,000,000

  	
   

  
	
  January 1, 2005 to and including
  December 31, 2005

  	
   

  	
  $

  	
  45,000,000

  	
   

  
	
  January 1, 2006 to and including
  December 31, 2006

  	
   

  	
  $

  	
  45,000,000

  	
   

  
	
  January 1, 2007 to and including
  December 31, 2007

  	
   

  	
  $

  	
  45,000,000

  	
   

  
	
  January 1, 2008 to and including
  December 31, 2008

  	
   

  	
  $

  	
  45,000,000

  	
   

  
	
  January 1, 2009 to and including
  December 31, 2009

  	
   

  	
  $

  	
  45,000,000

  	
   

  
	
  January 1, 2010 to and including
  December 31, 2010

  	
   

  	
  $

  	
  45,000,000

  	
   

  
	
  January 1, 2011 to and including
  December 31, 2011

  	
   

  	
  $

  	
  45,000,000

  	
   

  

 

provided  further that up to
$15,000,000 of any Capital Expenditures permitted above to be made during any
period and not made during such period may be carried over and expended during
the next succeeding period.  In making
determinations pursuant to the preceding sentence, amounts carried over from
any period into a subsequent period shall be deemed utilized prior to the
amount permitted by the table set forth above has been utilized on Capital
Expenditures during the respective period.

 

8.9.          Limitation on Investments,
Loans and Advances.  Make any
advance, loan, extension of credit or capital contribution to, or purchase any
stock, bonds, notes, debentures or other securities of or any assets
constituting a business unit of, or make any other investment, in cash or by
transfer of assets or property, in (each an “Investment”), any Person,
except:

 

(a)           extensions of trade credit in the
ordinary course of business;

 

(b)           Investments in cash and Cash
Equivalents;

 

(c)           Investments existing on the Closing
Date and described in Schedule 8.9(c), setting forth the respective amounts
of such Investments as of a recent date;

 

(d)           Investments in notes receivable and
other instruments and securities obtained in connection with transactions
permitted by subsection 8.6(c);

 

107

 

(e)           loans and advances to officers,
directors or employees of Holding or any of its Subsidiaries (i) in the
ordinary course of business for travel and entertainment expenses, (ii)
existing on the Closing Date and described in Schedule 8.9(c), (iii) made
after the Closing Date for relocation expenses in the ordinary course of
business, (iv) made for other purposes in an aggregate amount (as to Holding
and all of its Subsidiaries), together with the aggregate amount of all
Guarantee Obligations permitted pursuant to subsection 8.4(f)(iii), of up
to $7,500,000 outstanding at any time and (v) relating to indemnification or
reimbursement of any officers, directors or employees in respect of liabilities
relating to their serving in any such capacity or as otherwise specified in
subsection 8.11;

 

(f)            (i)
Investments by the Parent Borrower in its Wholly Owned Subsidiaries (other than
any Receivables Subsidiary) and by such Wholly Owned Subsidiaries of the Parent
Borrower and in Wholly Owned Subsidiaries of the Parent Borrower (other than
any Receivables Subsidiary) and (ii) Investments in Holding in amounts and for
purposes for which dividends are permitted under subsection 8.7;

 

(g)           acquisitions expressly permitted by
subsection 8.10;

 

(h)           Investments of the Parent Borrower
and its Subsidiaries under Interest Rate Protection Agreements or under
Permitted Hedging Arrangements;

 

(i)            Investments in the nature of pledges
or deposits with respect to leases or utilities provided to third parties in
the ordinary course of business or otherwise described in
subsection 8.3(c), (d) or (f);

 

(j)            Investments representing non-cash
consideration received by the Parent Borrower or any of its Subsidiaries in
connection with any Asset Sale, provided that in the case of any Asset
Sale permitted under subsection 8.6(h) or (i), such non-cash consideration
constitutes not more than 25% of the aggregate consideration received in
connection with such Asset Sale and any such non-cash consideration received by
the Parent Borrower or any of its Domestic Subsidiaries is pledged to the
Administrative Agent for the benefit of the Lenders pursuant to the Security
Documents;

 

(k)           any Investment by the Parent
Borrower and its Subsidiaries in a Receivables Subsidiary which, in the
judgment of the Parent Borrower, is prudent and reasonably necessary in
connection with, or otherwise required by the terms of, any Permitted
Receivables Transaction;

 

(l)            Investments by the Parent Borrower
or any of its Subsidiaries in a Person in connection with a joint venture or similar
arrangement in respect of which no other co-investor or other Person has a
greater legal or beneficial ownership interest than the Parent Borrower or such
Subsidiary in an aggregate amount not to exceed at any time an amount equal to
$20,000,000; provided that (i) such amount shall be increased by an
amount equal to $5,000,000 on each anniversary of the Closing Date, so long as
no Default or Event of Default shall have occurred and be continuing on any
date on which such amount is to be increased, (ii) such amount and any increase
in such amount permitted by clause (i) shall be reduced by the aggregate
principal amount of Indebtedness in respect of Guarantee Obligations permitted
by

 

108

 

subsection 8.4(p), and (iii) the Parent
Borrower or such Subsidiary complies with the provisions of
subsection 7.9(b) and (c) hereof, if applicable, with respect to such
ownership interest;

 

(m)          Investments in industrial
development or revenue bonds or similar obligations secured by assets leased to
and operated by the Parent Borrower or any of its Subsidiaries that were issued
in connection with the financing of such assets, so long as the Parent Borrower
or any such Subsidiary may obtain title to such assets at any time by
optionally canceling such bonds or obligations, paying a nominal fee and
terminating such financing transaction;

 

(n)           Investments representing evidences
of Indebtedness, securities or other property received from another Person by
the Parent Borrower or any of its Subsidiaries in connection with any
bankruptcy proceeding or other reorganization of such other Person or as a
result of foreclosure, perfection or enforcement of any Lien or exchange for
evidences of Indebtedness, securities or other property of such other Person
held by the Parent Borrower or any of its Subsidiaries; provided that
any such securities or other property received by the Parent Borrower or any of
its Domestic Subsidiaries (other than a Receivables Subsidiary or a Subsidiary
of a Foreign Subsidiary) is pledged to the Administrative Agent for the benefit
of the Lenders pursuant to the Security Documents;

 

(o)           loans and advances to Management
Investors in connection with the purchase by such Management Investors of
Capital Stock of Investors (so long as Investors applies the net cash proceeds
of such purchases to make capital contributions to, or purchase Capital Stock
of, Holding or applies such proceeds to pay Investors Expenses) or Holding of
up to $15,000,000 outstanding at any one time; provided that such amount shall
be reduced by the aggregate principal amount of Indebtedness in respect of
Guarantee Obligations permitted by subsection 8.4(b); and

 

(p)           Investments not otherwise permitted
by the preceding clauses of this subsection 8.9 not to exceed in the
aggregate $15,000,000.

 

8.10.        Limitations
on Certain Acquisitions.  Acquire by purchase or otherwise all the
business or assets of, or stock or other evidences of beneficial ownership of,
any Person, except that the Parent Borrower and its Subsidiaries shall be
allowed to make any such acquisitions so long as:

 

(a)           such acquisition is expressly
permitted by subsection 8.5, or

 

(b)           the aggregate consideration paid by
the Parent Borrower and its Subsidiaries for such acquisition (including cash
and indebtedness incurred or assumed in connection with such acquisition)
consists solely of any combination of:

 

(i)            Capital Stock of Investors or Holding;

 

(ii)           cash in an amount equal to the Net Cash
Proceeds of the sale or issuance of Capital Stock of Investors or Holding which
amount is contributed to the Parent Borrower within 90 days prior to the date
of the relevant acquisition;

 

109

 

(iii)          cash and other property (excluding cash and
other property covered under clauses (i), (ii) and (iv) of this
subsection 8.10(b)) and Indebtedness (whether incurred or assumed) in an
aggregate amount which, when aggregated with all other amounts of cash and such
other property paid for acquisitions, and Indebtedness incurred or assumed, in
each case in reliance on this clause (iii), does not exceed $50,000,000; provided
that such amount shall be increased by an amount equal to $5,000,000 on each
anniversary of the Closing Date, so long as no Default or Event of Default
shall have occurred and be continuing on any date on which such amount is to be
increased; and/or

 

(iv)          additional cash and other property (excluding
cash and other property covered under clauses (i), (ii) and (iii) of this
subsection 8.10(b)) and Indebtedness (whether incurred or assumed) in an
aggregate amount which, when aggregated with all other amounts of cash and such
other property paid for acquisitions, and Indebtedness incurred or assumed, in
each case in reliance on this clause (iv), does not exceed $75,000,000, provided
that such acquisition is made at a time when the Consolidated Leverage Ratio,
calculated on a pro forma basis after giving effect to such acquisition (such
calculation to be made in a manner reasonably satisfactory to the
Administrative Agent and to be evidenced by a certificate in form and substance
reasonably satisfactory to the Administrative Agent signed by a Responsible
Officer of the Parent Borrower and delivered to the Administrative Agent (which
shall promptly deliver copies to each Lender) at least three Business Days
prior to the consummation of such acquisition), is equal to or less than
4.00:1.00;

 

(c)           such acquisition is the KMF
Acquisition and the aggregate consideration paid by the Parent Borrower and its
Subsidiaries for such acquisition (including cash and indebtedness incurred or
assumed in connection with such acquisition) does not exceed €20,000,000;

 

provided, further that in the case of
each such acquisition pursuant to clauses (a), (b) and (c) after giving effect
thereto, no Default or Event of Default shall occur as a result of such
acquisition.

 

8.11.        Limitation
on Transactions with Affiliates.  Enter into any transaction, including, without limitation, any
purchase, sale, lease or exchange of property or the rendering of any service,
with any Affiliate unless such transaction is (a) otherwise permitted under
this Agreement, and (b) upon terms no less favorable to the Parent Borrower or
such Subsidiary, as the case may be, than it would obtain in a comparable arm’s
length transaction with a Person which is not an Affiliate; provided
that nothing contained in this subsection 8.11 shall be deemed to
prohibit:

 

(i)            the
Parent Borrower or any of its Subsidiaries from entering into or performing any
consulting, management or employment agreements or other compensation
arrangements with a director, officer or employee of the Parent Borrower or any
of its Subsidiaries that provides for annual aggregate base compensation not in
excess of $1,000,000 for each such director, officer or employee;

 

(ii)           the
Parent Borrower or any of its Subsidiaries from entering into or performing an
agreement with CD&R for the rendering of management consulting or financial

 

110

 

advisory services for compensation not to exceed in the aggregate
$2,000,000 per year plus reasonable out-of-pocket expenses;

 

(iii)          the
payment of transaction expenses in connection with this Agreement;

 

(iv)          the
Parent Borrower or any of its Subsidiaries from entering into, making payments
pursuant to and otherwise performing an indemnification and contribution
agreement in favor of any Permitted Holder and each person who is or becomes a
director, officer, agent or employee of the Parent Borrower or any of its
Subsidiaries, in respect of liabilities (A) arising under the Securities Act,
the Exchange Act and any other applicable securities laws or otherwise, in
connection with any offering of securities by Investors (provided that,
if Investors shall own any material assets other than the Capital Stock of
Holding, or other assets relating to the ownership interest of Investors in
Holding, such liabilities shall be limited to the reasonable and proportional
share, as determined by the Parent Borrower in its reasonable discretion, of
such liabilities relating or allocable to the ownership interest of Investors
in Holding and such other related assets) or Holding or any of its
Subsidiaries, (B) incurred to third parties for any action or failure to act of
the Parent Borrower or any of its Subsidiaries, predecessors or successors,
(C) arising out of the performance by CD&R of management consulting or
financial advisory services provided to the Parent Borrower or any of its
Subsidiaries, (D) arising out of the fact that any indemnitee was or is a
director, officer, agent or employee of the Parent Borrower or any of its
Subsidiaries, or is or was serving at the request of any such corporation as a
director, officer, employee or agent of another corporation, partnership, joint
venture, trust or enterprise or (E) to the fullest extent permitted by Delaware
or other applicable state law, arising out of any breach or alleged breach by
such indemnitee of his or her fiduciary duty as a director or officer of the
Parent Borrower or any of its Subsidiaries;

 

(v)           the
Parent Borrower or any of its Subsidiaries from performing any agreements or
commitments with or to any Affiliate existing on the Closing Date and described
on Schedule 8.11(v);

 

(vi)          any
transaction permitted under subsection 8.3(k), 8.4(b), 8.4(d), 8.4(f),
8.5, 8.7, 8.9(e), 8.9(f) or 8.9(o), or any transaction with a Wholly Owned
Subsidiary of the Parent Borrower; or

 

(vii)         the
Parent Borrower or any of its Subsidiaries from performing its obligations
under the Tax Sharing Agreement.

 

For
purposes of this subsection 8.11, (A) any transaction with any Affiliate
shall be deemed to have satisfied the standard set forth in clause (b) of the
first sentence hereof if (i) such transaction is approved by a majority of the
Disinterested Directors of the board of directors of Holding, the Parent
Borrower or such Subsidiary, or (ii) in the event that at the time of any such
transaction, there are no Disinterested Directors serving on the board of
directors of Holding, the Parent Borrower or such Subsidiary, such transaction
shall be approved by a nationally recognized expert with expertise in
appraising the terms and conditions of the type of transaction for which
approval is required, and (B) “Disinterested Director” shall mean, with
respect to any Person and transaction, a member of the board of directors of
such Person who does not have any material direct or indirect financial
interest in or with respect to such transaction.

 

111

 

8.12.        Limitation on
Sale and Leaseback Transactions.  Enter into any arrangement with any Person providing for the
leasing by the Parent Borrower or any of its Subsidiaries of real or personal
property which has been or is to be sold or transferred by the Parent Borrower
or any such Subsidiary to such Person or to any other Person to whom funds have
been or are to be advanced by such Person on the security of such property or
rental obligations of the Parent Borrower or such Subsidiary (any of such arrangements,
a “Sale and Leaseback Transaction”), unless (a) the Parent Borrower
shall be in compliance, on a pro   forma basis after
giving effect to the consummation of the Sale and Leaseback Transaction and the
application of the proceeds thereof, with the Consolidated Leverage Ratio set
forth in subsection 8.1(a), recomputed as at the last day of the most
recently ended fiscal quarter of the Parent Borrower for which the relevant
information is available as if such Sale and Leaseback Transaction had been
consummated on the first day of the relevant period for testing such compliance
(such calculation to be made in a manner reasonably satisfactory to the
Administrative Agent and to be evidenced by a certificate in form and substance
reasonably satisfactory to the Administrative Agent signed by a Responsible
Officer of the Parent Borrower and delivered to the Administrative Agent (which
shall promptly deliver copies to each Lender) at least three Business Days
prior to the consummation of such Sale and Leaseback Transaction), (b) the
lease entered into by the Parent Borrower or any of its Subsidiaries in
connection with such Sale and Leaseback Transaction is either (i) a Financing
Lease or (ii) a lease the payments under which will be treated as an operating expense
for purposes of determining EBITDA, and (c) an amount equal to 100% of the Net
Cash Proceeds of such Sale and Leaseback Transaction is applied in accordance
with subsection 4.4(b)(iv).

 

8.13.        Limitations
on Dispositions of Collateral. 
Convey, sell, transfer, lease, or otherwise dispose of any of the
Collateral, or attempt, offer or contract to do so, except for (a) mergers,
consolidations, sales, leases, transfers or other Dispositions expressly
permitted under subsection 8.5 and (b) sales or other Dispositions
expressly permitted under subsection 8.6, including, without limitation,
sales of Inventory in the ordinary course of business; and the Administrative
Agent shall, and the Lenders hereby authorize the Administrative Agent to,
execute such releases of Liens and take such other actions as the Parent
Borrower may reasonably request in connection with the foregoing.

 

8.14.        Limitation
on Optional Payments and Modifications of Debt Instruments and Other
Documents.  (a)  Make any
optional payment or prepayment on or repurchase or redemption of any 2004
Senior Notes or any 2004 Senior Subordinated Notes (in each case, other than as
provided in the respective definition thereof), including, without limitation,
any payments on account of, or for a sinking or other analogous fund for, the
repurchase, redemption, defeasance or other acquisition thereof, except
mandatory payments of principal, interest, fees and expenses required by the
terms of the documentation governing the respective such issue of Indebtedness.

 

(b)           In the event of the occurrence of a
Change of Control, repurchase or repay any Indebtedness then outstanding
pursuant to any of the Existing Notes or any portion thereof, unless the Parent
Borrower shall have (i) made payment in full of the Loans, all Reimbursement
Obligations and any other amounts then due and owing to any Lender or the
Administrative Agent hereunder and under any Note and cash collateralized the
L/C Obligations on terms reasonably satisfactory to the Administrative Agent or
(ii) made an offer to pay the Loans, all

 

112

 

Reimbursement Obligations and any amounts
then due and owing to each Lender and the Administrative Agent hereunder and
under any Note and to cash collateralize the L/C Obligations in respect of each
Lender and shall have made payment in full thereof to each such Lender or the
Administrative Agent which has accepted such offer and cash collateralized the
L/C Obligations in respect of each such Lender which has accepted such offer.

 

(c)           Amend, supplement, waive or
otherwise modify any of the provisions of any 2004 Senior Subordinated Note
Document or any 2004 Senior Note Document (in each case, except as otherwise
expressly contemplated in the Interim Funding Side Letter):

 

(i)            which, in the case of any of the 2004 Senior
Subordinated Note Documents, amends, supplements, waives, or otherwise modifies
the subordination provisions contained therein;

 

(ii)           except as permitted pursuant to
subsection 8.14(a), which shortens the fixed maturity or increases the
principal amount of, or increases the rate or shortens the time of payment of
interest on, or increases the amount or shortens the time of payment of any
principal or premium payable whether at maturity, at a date fixed for
prepayment or by acceleration or otherwise of the Indebtedness evidenced by any
Existing Notes, or increases the amount of, or accelerates the time of payment
of, any fees or other amounts payable in connection therewith;

 

(iii)          which relates to any material affirmative or negative
covenants or any events of default or remedies thereunder and the effect of
which is to subject the Parent Borrower or any of its Subsidiaries to any more
onerous or more restrictive provisions; or

 

(iv)          which otherwise adversely affects the interests of the
Lenders as senior secured creditors with respect to the Existing Notes or the
interests of the Lenders under this Agreement or any other Loan Document in any
material respect.

 

(d)           Enter into any Synthetic Purchase
Agreement if under such Synthetic Purchase Agreement it may be required to make
(i) any payment relating to the Capital Stock of Investors or Holding that has
the same economic effect on the Parent Borrower and its Subsidiaries as any
Investment by the Parent Borrower in Capital Stock of Investors or Holding
prohibited by subsection 8.9 above or (ii) any payment relating to
Existing Notes that has the same economic effect on the Parent Borrower as any
optional payment or prepayment or repurchase or redemption of such Existing
Notes prohibited by subsection 8.14(a) above, unless, in each case, such
requirement is conditioned upon obtaining any requisite consent of the Lenders
hereunder.

 

(v) (i) Amend, supplement or
otherwise modify (pursuant to a waiver or otherwise) the terms and conditions
of the Tax Sharing Agreement in any manner that would increase the amounts
payable by the Parent Borrower or any of its Subsidiaries thereunder in any
manner that could reasonably be expected to be materially adverse to the Lenders,
other than amendments reasonably reflecting changes in law or regulations after
the date hereof, or (ii) otherwise amend, supplement or otherwise modify the
terms and conditions of the Tax Sharing Agreement except to the extent that any
such amendment, supplement or modification could not

 

113

 

reasonably be expected to have
a Material Adverse Effect; provided that no such amendment, supplement
or modification referred to in either of clauses (i) or (ii) above shall
materially increase any payments to Investors or any other Person (other than
Holding and its Subsidiaries or any Governmental Authority relating to taxes
payable by or on behalf of any of the Parent Borrower and its Subsidiaries) by
Holding or any of its Subsidiaries, other than amendments reasonably reflecting
changes in law or regulations after the date hereof relating to taxes payable
by or on behalf of any of the Parent Borrower and its Subsidiaries.

 

8.15.        Limitation on
Changes in Fiscal Year. 
Permit the fiscal year of Holding or the Parent Borrower to end on a day
other than December 31.

 

8.16.        Limitation on
Negative Pledge Clauses. 
Enter into with any Person any agreement which prohibits or limits the
ability of the Parent Borrower or any of its Subsidiaries (other than any
Receivables Subsidiaries and any Foreign Subsidiaries or Subsidiaries of either
thereof) to create, incur, assume or suffer to exist any Lien in favor of the
Lenders in respect of obligations and liabilities under this Agreement or any
other Loan Documents upon any of its property, assets or revenues, whether now
owned or hereafter acquired, other than (a) this Agreement, the other Loan
Documents and any related documents, and (b) any industrial revenue or development
bonds, purchase money mortgages, acquisition agreements or Financing Leases or
agreements in connection with any Permitted Receivables Transaction permitted
by this Agreement (in which cases, any prohibition or limitation shall only be
effective against the assets financed or acquired thereby) or operating leases
of real property entered into in the ordinary course of business.

 

8.17.        Limitation on
Lines of Business. 
(a)  Enter into any business,
either directly or through any Subsidiary or joint venture or similar
arrangement described in subsection 8.9(l), except for those businesses of
the same general type as those in which the Parent Borrower and its
Subsidiaries are engaged on the Closing Date or which are reasonably related
thereto.

 

(b)           In the case of any Foreign
Subsidiary Holdco, (x) own any material assets other than securities of one or
more Foreign Subsidiaries and other assets relating to an ownership interest in
any such securities or Subsidiaries or (y) incur or become liable for any Indebtedness
for borrowed money to any Person other than the Parent Borrower or a Subsidiary
of the Parent Borrower, any other material Indebtedness to any Person other
than the Parent Borrower on a Subsidiary of the Parent Borrower or any
Guarantee Obligations of any Indebtedness (other than of any Foreign
Subsidiary), in each case except pursuant to subsections 8.2(a) and 8.4(l).

 

8.18.        Limitations on
Currency and Commodity Hedging Transactions.  Enter into, purchase or otherwise acquire
agreements or arrangements relating to currency, commodity or other hedging
except, to the extent and only to the extent that, such agreements or
arrangements are entered into, purchased or otherwise acquired in the ordinary
course of business of the Parent Borrower or any of its Subsidiaries with
reputable financial institutions or vendors and not for purposes of speculation
(any such agreement or arrangement permitted by this subsection, a “Permitted
Hedging Arrangement”).

 

114

 

SECTION 9.           EVENTS OF DEFAULT.  If any of the following events shall occur
and be continuing:

 

(a)           Any of the Borrowers shall fail to
pay any principal of any Loan or any Reimbursement Obligation when due in
accordance with the terms hereof (whether at stated maturity, by mandatory
prepayment or otherwise); or any of the Borrowers shall fail to pay any
interest on any Loan, or any other amount payable hereunder, within five days
after any such interest or other amount becomes due in accordance with the terms
hereof; or

 

(b)           Any representation or warranty made
or deemed made by any Loan Party herein or in any other Loan Document (or in
any amendment, modification or supplement hereto or thereto) or which is
contained in any certificate furnished at any time by or on behalf of any Loan
Party pursuant to this Agreement or any such other Loan Document shall prove to
have been incorrect in any material respect on or as of the date made or deemed
made; or

 

(c)           Any Loan Party shall default in the
observance or performance of any agreement contained in subsection 7.7(a)
or Section 8 of this Agreement; provided that, in the case of a
default in the observance or performance of its obligations under
subsection 7.7(a) hereof, such default shall have continued unremedied for
a period of two days after a Responsible Officer of the Parent Borrower shall
have discovered or should have discovered such default; or

 

(d)           Any Loan Party shall default in the
observance or performance of any other agreement contained in this Agreement or
any other Loan Document (other than as provided in paragraphs (a) through (c)
of this Section 9), and such default shall continue unremedied for a
period ending on the earlier of (i) the date 32 days after a Responsible
Officer of Holding shall have discovered or should have discovered such default
and (ii) the date 15 days after written notice has been given to Holding by the
Administrative Agent or the Required Lenders; or

 

(e)           Holding or any of its Subsidiaries
shall (i) default in (x) any payment of principal of or interest on any
Indebtedness (other than the Loans and the Reimbursement Obligations) in excess
of $10,000,000 or (y) in the payment of any Guarantee Obligation in excess of
$10,000,000, beyond the period of grace (not to exceed 30 days), if any,
provided in the instrument or agreement under which such Indebtedness or
Guarantee Obligation was created; or (ii) default in the observance or
performance of any other agreement or condition relating to any Indebtedness or
Guarantee Obligation referred to in clause (i) above or contained in any
instrument or agreement evidencing, securing or relating thereto, or any other
event shall occur or condition exist, the effect of which default or other
event or condition is to cause, or to permit the holder or holders of such
Indebtedness or beneficiary or beneficiaries of such Guarantee Obligation (or a
trustee or agent on behalf of such holder or holders or beneficiary or
beneficiaries) to cause, with the giving of notice or lapse of time if required,
such Indebtedness to become due prior to its stated maturity or such Guarantee
Obligation to become payable (an “Acceleration”), and such time shall
have lapsed and, if any notice (a “Default Notice”) shall be required to
commence a grace period or declare the occurrence of an event of default before
notice of Acceleration may be delivered, such Default Notice shall have been
given; or

 

115

 

(f)            Any
Loan Party or any Material Subsidiaries of the Parent Borrower shall commence
any case, proceeding or other action (A) under any existing or future law of
any jurisdiction, domestic or foreign, relating to bankruptcy, insolvency,
reorganization or relief of debtors, seeking to have an order for relief
entered with respect to it, or seeking to adjudicate it a bankrupt or
insolvent, or seeking reorganization, arrangement, adjustment, winding-up,
liquidation, dissolution, composition or other relief with respect to it or its
debts, or (B) seeking appointment of a receiver, trustee, custodian,
conservator or other similar official for it or for all or any substantial part
of its assets, or any Loan Party or any Material Subsidiaries of the Parent
Borrower shall make a general assignment for the benefit of its creditors; or
(ii) there shall be commenced against any Loan Party or any Material
Subsidiaries of the Parent Borrower any case, proceeding or other action of a
nature referred to in clause (i) above which (A) results in the entry of an
order for relief or any such adjudication or appointment or (B) remains
undismissed, undischarged, unstayed or unbonded for a period of 60 days; or
(iii) there shall be commenced against any Loan Party or any Material
Subsidiaries of the Parent Borrower any case, proceeding or other action
seeking issuance of a warrant of attachment, execution, distraint or similar
process against all or any substantial part of its assets which results in the
entry of an order for any such relief which shall not have been vacated,
discharged, stayed or bonded pending appeal within 60 days from the entry
thereof; or (iv) any Loan Party or any Material Subsidiaries of the Parent
Borrower shall take any corporate action in furtherance of, or indicating its
consent to, approval of, or acquiescence in, any of the acts set forth in
clause (i), (ii), or (iii) above; or (v) any Loan Party or any Material
Subsidiaries of the Parent Borrower shall be generally unable to, or shall
admit in writing its general inability to, pay its debts as they become due; or

 

(g)           Any
Person shall engage in any “prohibited transaction” (as defined in
Section 406 of ERISA or Section 4975 of the Code) involving any Plan,
(ii) any “accumulated funding deficiency” (as defined in Section 302 of
ERISA), whether or not waived, shall exist with respect to any Plan or any Lien
in favor of the PBGC or a Plan shall arise on the assets of either of the
Parent Borrower or any Commonly Controlled Entity, (iii) a Reportable Event
shall occur with respect to, or proceedings shall commence to have a trustee
appointed, or a trustee shall be appointed, to administer or to terminate, any
Single Employer Plan, which Reportable Event or commencement of proceedings or
appointment of a trustee is in the reasonable opinion of the Administrative
Agent likely to result in the termination of such Plan for purposes of Title IV
of ERISA, (iv) any Single Employer Plan shall terminate for purposes of Title
IV of ERISA, (v) either of the Parent Borrower or any Commonly Controlled
Entity shall, or in the reasonable opinion of the Administrative Agent is
likely to, incur any liability in connection with a withdrawal from, or the
Insolvency or Reorganization of, a Multiemployer Plan, or (vi) any other event
or condition shall occur or exist with respect to a Plan; and in each case in
clauses (i) through (vi) above, such event or condition, together with all
other such events or conditions, if any, could be reasonably expected to result
in a Material Adverse Effect; or

 

(h)           One or more judgments or decrees
shall be entered against the Parent Borrower or any of its Subsidiaries
involving in the aggregate at any time a liability (net of any insurance or
indemnity payments actually received in respect thereof prior to or within 60
days from the entry thereof, or to be received in respect thereof in the event
any appeal thereof shall be unsuccessful) of $10,000,000 or more, and all such
judgments or decrees shall not have been vacated, discharged, stayed or bonded
pending appeal within 60 days from the entry thereof; or

 

116

 

(i)            Any outstanding 2004 Senior
Subordinated Notes, for any reason, shall not be or shall cease to be validly
subordinated as provided therein and in the 2004 Senior Subordinated Note
Documents, as applicable, to the obligations of the Parent Borrower under this
Agreement and the other Loan Documents, or the obligations of any other Loan
Party under a guarantee of the 2004 Senior Subordinated Notes, for any reason,
shall not be or shall cease to be validly subordinated as provided therein and
in the 2004 Senior Subordinated Note Documents, to the Guarantee Obligations of
such Loan Party under the Guarantee and Collateral Agreement; or

 

(j)            Any of the Security Documents shall
cease for any reason to be in full force and effect (other than pursuant to the
terms hereof or thereof), or any Loan Party which is a party to any of the
Security Documents shall so assert in writing, or (ii) the Lien created by any
of the Security Documents shall cease to be perfected and enforceable in
accordance with its terms or of the same effect as to perfection and priority
purported to be created thereby with respect to any significant portion of the
Collateral (other than in connection with any termination of such Lien in
respect of any Collateral as permitted hereby or by any Security Document), and
such failure of such Lien to be perfected and enforceable with such priority
shall have continued unremedied for a period of 20 days; or

 

(k)           Any Loan Document (other than this
Agreement or any of the Security Documents) shall cease for any reason to be in
full force and effect (other than pursuant to the terms hereof or thereof) or
any Loan Party shall so assert in writing; or

 

(l)            A Change of Control shall have
occurred; or

 

(m)          Any event or circumstance entitling
the Persons purchasing, or financing the purchase of, Receivables under any
Permitted Receivables Transaction to stop so purchasing or financing, other
than by reason of the occurrence of the stated expiry date of such Permitted Receivables
Transaction, a refinancing of such Permitted Receivables Transaction through
another Permitted Receivables Transaction, a reduction in any applicable
borrowing base,  or the occurrence of
any other event or circumstance which is not, or is not related primarily to,
an action or statement taken or made, or omitted to be taken or made, by or on
behalf of, or a condition of or relating to, Holding or any of its
Subsidiaries; provided that any notices or cure periods that are
conditions to the rights of such Persons to stop purchasing, or financing the
purchase of, such Receivables have been given or have expired, as the case may
be;

 

then, and in any such event, (A) if such
event is an Event of Default specified in clause (i) or (ii) of paragraph (f)
above with respect to any Borrower, automatically the Revolving Credit
Commitments and the Term Loan Commitments, if any, shall immediately terminate
and the Loans hereunder (with accrued interest thereon) and all other amounts
owing under this Agreement (including, without limitation, all amounts of L/C
Obligations, whether or not the beneficiaries of the then outstanding Letters
of Credit shall have presented the documents required thereunder) shall
immediately become due and payable, and (B) if such event is any other Event of
Default, either or both of the following actions may be taken:  (i) with the consent of the Required
Lenders, the Administrative Agent may, or upon the request of the Required
Lenders the Administrative Agent shall, by notice to the Parent Borrower,
declare the Revolving Credit Commitments and the Term Loan Commitments to be
terminated forthwith, whereupon

 

117

 

the
Revolving Credit Commitments and the Term Loan Commitments, if any,` shall
immediately terminate; and (ii) with the consent of the Required Lenders, the
Administrative Agent may, or upon the request of the Required Lenders, the
Administrative Agent shall, by notice to the Parent Borrower, declare the Loans
hereunder (with accrued interest thereon) and all other amounts owing under
this Agreement (including, without limitation, all amounts of L/C Obligations,
whether or not the beneficiaries of the then outstanding Letters of Credit
shall have presented the documents required thereunder) to be due and payable
forthwith, whereupon the same shall immediately become due and payable.

 

With
respect to any Letter of Credit with respect to which presentment for honor
shall not have occurred at the time of an acceleration pursuant to the
preceding paragraph, the Parent Borrower shall at such time deposit in a cash
collateral account opened by the Administrative Agent an amount equal to the
aggregate then undrawn and unexpired amount of such Letter of Credit.  The Parent Borrower hereby grants to the
Administrative Agent, for the benefit of the Issuing Lender and the L/C
Participants, a security interest in such cash collateral to secure all
obligations of such Borrower in respect of such Letter of Credit under this
Agreement and the other Loan Documents. 
The Parent Borrower shall execute and deliver to the Administrative
Agent, for the account of the Issuing Lender and the L/C Participants, such
further documents and instruments as the Administrative Agent may request to
evidence the creation and perfection of such security interest in such cash
collateral account.  Amounts held in
such cash collateral account shall be applied by the Administrative Agent to
the payment of drafts drawn under such Letter of Credit, and the unused portion
thereof after all such Letters of Credit shall have expired or been fully drawn
upon, if any, shall be applied to repay other obligations of the Borrowers
hereunder.  After all Letters of Credit
shall have expired or been fully drawn upon, all Reimbursement Obligations
shall have been satisfied and all other obligations of the Borrowers hereunder
shall have been paid in full, the balance, if any, in such cash collateral
account shall be returned to the Borrowers.

 

Except
as expressly provided above in this Section 9, presentment, demand,
protest and all other notices of any kind are hereby expressly waived.

 

SECTION 10.         THE
ADMINISTRATIVE AGENT AND THE OTHER REPRESENTATIVES.

 

10.1.        Appointment.  Each Lender hereby irrevocably designates
and appoints DBAG as the Administrative Agent of such Lender under this
Agreement and the other Loan Documents, and each such Lender irrevocably
authorizes DBAG, as the Administrative Agent for such Lender, to take such
action on its behalf under the provisions of this Agreement and the other Loan
Documents and to exercise such powers and perform such duties as are expressly
delegated to or required of the Administrative Agent by the terms of this
Agreement and the other Loan Documents, together with such other powers as are
reasonably incidental thereto. 
Notwithstanding any provision to the contrary elsewhere in this
Agreement, the Administrative Agent and the Other Representatives shall not
have any duties or responsibilities, except, in the case of the Administrative
Agent and the Issuing Lender, those expressly set forth herein, or any
fiduciary relationship with any Lender, 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 or the Other Representatives.  Each of the

 

118

 

Agents may perform any of their respective duties under this Agreement,
the other Loan Documents and any other instruments and agreements referred to
herein or therein by or through its respective officers, directors, agents,
employees or affiliates (it being understood and agreed, for avoidance of doubt
and without limiting the generality of the foregoing, that the Administrative
Agent may perform any of its duties under the Security Documents by or through
one or more of its affiliates).

 

10.2.        Delegation of
Duties.  In performing
its functions and duties under this Agreement, the Administrative Agent shall
act solely as agent for the Lenders, and the Administrative Agent assumes no
(and shall not be deemed to have assumed any) obligation or relationship of
agency or trust with or for Holding or any of its Subsidiaries.  The Administrative Agent may execute any of
its duties under this Agreement and the other Loan Documents by or through
agents or attorneys-in-fact, and shall be entitled to advice of counsel
concerning all matters pertaining to such duties.  The Administrative Agent shall not be responsible for the
negligence or misconduct of any agents or attorneys-in-fact or counsel selected
by it with reasonable care.

 

10.3.        Exculpatory
Provisions.  None of the
Administrative Agent or any Other Representative nor any of their officers,
directors, employees, agents, attorneys-in-fact or Affiliates shall be (a)
liable for any action taken or omitted to be taken by such Person under or in
connection with this Agreement or any other Loan Document (except for the gross
negligence or willful misconduct of such Person or any of its officers,
directors, employees, agents, attorneys-in-fact or Affiliates) or (b)
responsible in any manner to any of the Lenders for (i) any recitals,
statements, representations or warranties made by Holding, any Borrower or any
other Loan Party or any officer thereof contained in this Agreement or 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 or any
Other Representative under or in connection with, this Agreement or any other
Loan Document, (ii) for the value, validity, effectiveness, genuineness,
enforceability or sufficiency of this Agreement or any Notes or any other Loan
Document, (iii) for any failure of Holding, any Borrower or any other Loan
Party to perform its obligations hereunder or under any other Loan Document,
(iv) the performance or observance of any of the terms, provisions or
conditions of this Agreement or any other Loan Document, (v) the satisfaction
of any of the conditions precedent set forth in Section 6, or (vi) the
existence or possible existence of any Default or Event of Default.  Neither the Administrative Agent nor any
Other Representative shall be under any obligation to any Lender 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 Holding, any Borrower or any
other Loan Party.  Each Lender agrees
that, except for notices, reports and other documents expressly required to be
furnished to the Lenders by the Administrative Agent hereunder or given to the
Administrative Agent for the account of or with copies for the Lenders, the
Administrative Agent and the Other Representatives shall not have any duty or
responsibility to provide any Lender with any credit or other information
concerning the business, operations, property, condition (financial or
otherwise), prospects or creditworthiness of Holding, any Borrower or any other
Loan Party which may come into the possession of the Administrative Agent and
the Other Representatives or any of their officers, directors, employees,
agents, attorneys-in-fact or Affiliates.

 

119

 

10.4.        Reliance
by Administrative Agent.  The
Administrative Agent shall be entitled to rely, and shall be fully protected
(and shall have no liability to any Person) in relying, upon any writing,
resolution, notice, consent, certificate, affidavit, letter, telecopy, telex or
teletype message, statement, order 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, without limitation, counsel to any Borrower or Holding),
independent accountants and other experts selected by the Administrative
Agent.  The Administrative Agent may
deem and treat the payee of any Note as the owner thereof for all purposes
unless and until a written notice of assignment, negotiation or transfer
thereof shall have been filed with the Administrative Agent.  Any request, authority or consent of any
Person or entity who, at the time of making such request or giving such authority
or consent, is the holder of any Note shall be conclusive and binding on any
subsequent holder, transferee, assignee or endorsee, as the case may be, of
such Note or of any Note or Notes issued in exchange therefor.  The Administrative Agent shall be fully
justified as between itself and the Lenders in failing or refusing to take any
action under this Agreement or any other Loan Document unless it shall first
receive such advice or concurrence of the Required Lenders and/or such other
requisite percentage of the Lenders as is required pursuant to
subsection 11.1(a) as it deems appropriate or 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 and any Notes and the other Loan
Documents in accordance with a request of the Required Lenders and/or such
other requisite percentage of the Lenders as is required pursuant to
subsection 11.1(a), and such request and any action taken or failure to
act pursuant thereto shall be binding upon all the Lenders and all future
holders of the Loans.

 

10.5.        Notice of Default.  The Administrative Agent shall not be deemed
to have knowledge or notice of the occurrence of any Default or Event of
Default hereunder unless the Administrative Agent has received notice from a
Lender or either of the Parent Borrower or Holding referring to this Agreement,
describing such Default or Event of Default and stating that such notice is a
“notice of default”.  In the event that
the Administrative Agent receives such a notice, the Administrative Agent shall
give notice thereof to the Lenders.  The
Administrative Agent shall take such action reasonably promptly with respect to
such Default or Event of Default as shall be directed by the Required Lenders
and/or such other requisite percentage of the Lenders as is required pursuant
to subsection 11.1(a); provided that unless and until the
Administrative Agent shall have received such directions, the Administrative
Agent may (but shall not be obligated to) take such action, or refrain from
taking such action, with respect to such Default or Event of Default as it
shall deem advisable in the best interests of the Lenders.

 

10.6.        Acknowledgements
and Representations by Lenders. 
Each Lender expressly acknowledges that none of the Administrative Agent
or the Other Representatives nor any of their officers, directors, employees,
agents, attorneys-in-fact or Affiliates has made any representations or
warranties to it and that no act by the Administrative Agent or any Other
Representative hereafter taken, including any review of the affairs of any
Borrower or any other Loan Party, shall be deemed to constitute any
representation or warranty by the Administrative Agent or such Other
Representative to any Lender.  Each
Lender represents to the Administrative Agent, the Other Representatives and each
of the Loan Parties that,

 

120

 

independently and without reliance upon the Administrative Agent, the
Other Representatives or any other Lender, and based on such documents and
information as it has deemed appropriate, it has made and will make, its own
appraisal of and investigation into the business, operations, property,
financial and other condition and creditworthiness of Holding and the Borrowers
and the other Loan Parties, it has made its own decision to make its Loans
hereunder and enter into this Agreement and it will make its own decisions in
taking or not taking any action under this Agreement and the other Loan
Documents and, except as expressly provided in this Agreement, neither the
Administrative Agent nor any Other Representative shall have any duty or
responsibility, either initially or on a continuing basis, to provide any
Lender or the holder of any Note with any credit or other information with
respect thereto, whether coming into its possession before the making of the
Loans or at any time or times thereafter. 
Each Lender represents to each other party hereto that it is a bank,
savings and loan association or other similar savings institution, insurance
company, investment fund or company or other financial institution which makes
or acquires commercial loans in the ordinary course of its business, that it is
participating hereunder as a Lender for such commercial purposes, and that it
has the knowledge and experience to be and is capable of evaluating the merits
and risks of being a Lender hereunder. 
Each Lender acknowledges and agrees to comply with the provisions of
subsection 11.6 applicable to the Lenders hereunder.

 

10.7.        Indemnification.  (a)  The Lenders agree to
indemnify the Administrative Agent (or any Affiliate thereof) and the Other
Representatives (or any Affiliate thereof) (to the extent not reimbursed by the
Parent Borrower and without limiting the obligation of the Parent Borrower to
do so), ratably according to their respective Total Credit Percentages in
effect on the date on which indemnification is sought under this
subsection (or, if indemnification is sought after the date upon which the
Revolving Credit Commitments shall have terminated and the Loans shall have
been paid in full, ratably in accordance with their Total Credit Percentages
immediately prior to such date), from and against any and all liabilities,
obligations, losses, damages, penalties, actions, judgments, suits, costs,
expenses or disbursements of any kind whatsoever which may at any time
(including, without limitation, at any time following the payment of the Loans)
be imposed on, incurred by or asserted against the Administrative Agent (or any
Affiliate thereof) or any Other Representative (or any Affiliate thereof) in
any way relating to or arising out of this Agreement, any of the other Loan
Documents or the transactions contemplated hereby or thereby or any action
taken or omitted by the Administrative Agent (or any Affiliate thereof) or any
Other Representative (or any Affiliate thereof) under or in connection with any
of the foregoing; provided that no Lender shall be liable for the
payment of any portion of such liabilities, obligations, losses, damages,
penalties, actions, judgments, suits, costs, expenses or disbursements to the
extent arising from (a) the Administrative Agent’s or any Other
Representative’s gross negligence or willful misconduct or (b) claims made or
legal proceedings commenced against the Administrative Agent or any Other Representative
by any security holder or creditor thereof arising out of and based upon rights
afforded any such security holder or creditor solely in its capacity as
such.  The obligations to indemnify the
Issuing Lender and Swing Line Lender shall be ratable among the Revolving
Credit Lenders in accordance with their respective Revolving Credit Commitments
(or, if the Revolving Credit Commitments have been terminated, the outstanding
principal amount of their respective Revolving Credit Loans and L/C Obligations
and their respective participating interests in the outstanding Letters of
Credit and shall be payable only by the Revolving Credit Lenders).  The agreements in this subsection shall
survive the payment of the Loans and all other amounts payable hereunder.

 

121

 

(b)           Any Agent shall be fully justified
in failing or refusing to take any action hereunder and under any other Loan
Document (except actions expressly required to be taken by it hereunder or
under the Loan Documents) unless it shall first be indemnified to its
satisfaction by the Lenders pro   rata against any and all liability, cost
and expense that it may incur by reason of taking or continuing to take any
such action.

 

(c)           The agreements in this subsection 10.7
shall survive the payment of all Borrower Obligations and Guaranteed
Obligations (each as defined in the Guarantee and Collateral Agreement).

 

10.8.        Administrative
Agent and Other Representatives in Their Individual Capacity.  The Administrative Agent, the Other
Representatives and their Affiliates may make loans to, accept deposits from
and generally engage in any kind of business with any Borrower or any other
Loan Party as though the Administrative Agent and the Other Representatives
were not the Administrative Agent and the Other Representatives hereunder and
under the other Loan Documents.  With
respect to Loans made or renewed by them and any Note issued to them and with
respect to any Letter of Credit issued or participated in by them, the
Administrative Agent and the Other Representatives shall have the same rights
and powers under this Agreement and the other Loan Documents as any Lender and
may exercise the same as though they were not the Administrative Agent or an
Other Representative, and the terms “Lender” and “Lenders” shall include the
Administrative Agent in its individual capacity.

 

10.9.        Collateral Matters.  (a)  Each Lender authorizes and
directs the Administrative Agent to enter into the Security Documents for the
benefit of the Lenders and the other Secured Parties.  Each Lender hereby agrees, and each holder of any Note or
participant in Letters of Credit by the acceptance thereof will be deemed to
agree, that, except as otherwise set forth herein, any action taken by the Administrative
Agent or the Required Lenders in accordance with the provisions of this
Agreement or the Security Documents, and the exercise by the Administrative
Agent or the Required Lenders of the powers set forth herein or therein,
together with such other powers as are reasonably incidental thereto, shall be
authorized and binding upon all of the Lenders.  The Administrative Agent is hereby authorized on behalf of all of
the Lenders, without the necessity of any notice to or further consent from any
Lender, from time to time, to take any action with respect to any Collateral or
Security Documents which may be necessary to perfect and maintain perfected the
security interest in and liens upon the Collateral granted pursuant to the
Security Documents.

 

(b)           The Lenders hereby authorize the
Administrative Agent, at its option and in its discretion, to release any Lien
granted to or held by the Administrative Agent upon any Collateral (i) upon
termination of the Commitments and payment and satisfaction of all of the
Obligations at any time arising under or in respect of this Agreement or the
Loan Documents or the transactions contemplated hereby or thereby, (ii)
constituting property being sold or otherwise disposed of (to Persons other
than a Loan Party) upon the sale or other disposition thereof in compliance
with subsection 8.6, (iii) if approved, authorized or ratified in writing
by the Required Lenders (or the Required Collateral Release Lenders, to the
extent required by Section 11.1) or (iv) as otherwise may be expressly
provided in the relevant Security Documents. 
Upon request by the Administrative Agent at any time, the Lenders will
confirm in writing the

 

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Administrative Agent’s authority to release particular
types or items of Collateral pursuant to this subsection 10.9.

 

(c)              The Administrative Agent shall have
no obligation whatsoever to the Lenders to assure that the Collateral exists or
is owned by Holding or any of its Subsidiaries or is cared for, protected or
insured or that the Liens granted to the Administrative Agent herein or
pursuant hereto have been properly or sufficiently or lawfully created,
perfected, protected or enforced or are entitled to any particular priority, or
to exercise or to continue exercising at all or in any manner or under any duty
of care, disclosure or fidelity any of the rights, authorities and powers
granted or available to the Administrative Agent in this subsection 10.9
or in any of the Security Documents, it being understood and agreed that in
respect of the Collateral, or any act, omission or event related thereto, the
Administrative Agent may act in any manner it may deem appropriate, in its sole
discretion, given the Administrative Agent’s own interest in the Collateral as
one of the Lenders and that the Administrative Agent shall have no duty or
liability whatsoever to the Lenders, except for its gross negligence or willful
misconduct.

 

10.10.      Successor
Administrative Agent.  The
Administrative Agent may resign as Administrative Agent upon 10 days’ notice to
the Lenders.  If the Administrative
Agent shall resign as Administrative Agent under this Agreement and the other
Loan Documents, then the Required Lenders shall appoint from among the Lenders
a successor agent (which shall be a bank) for the Lenders, which successor
agent shall be approved by the Parent Borrower (such approval not to be
unreasonably withheld), whereupon such successor agent shall succeed to the
rights, powers and duties of the Administrative Agent, and the term
“Administrative Agent” shall mean such successor agent effective upon such
appointment and approval, and the former Administrative Agent’s rights, powers
and duties as Administrative Agent shall be terminated, without any other or
further act or deed on the part of such former Administrative Agent or any of
the parties to this Agreement or any holders of the Loans.  After any retiring Administrative Agent’s
resignation as Administrative Agent, the provisions of this
subsection shall inure to its benefit as to any actions taken or omitted
to be taken by it while it was Administrative Agent under this Agreement and
the other Loan Documents.  After the
resignation of any Administrative Agent pursuant to the preceding provisions of
this subsection 10.10, such resigning Administrative Agent (x) shall not
be required to act as Issuing Lender for any Letters of Credit to be issued
after the date of such resignation and (y) shall not be required to act as
Swing Line Lender with respect to Swing Line Loans to be made after the date of
such resignation (and all outstanding Swing Line Loans of such resigning
Administrative Agent shall be required to be repaid in full upon its
resignation), although the resigning Administrative Agent shall retain all rights
hereunder as Issuing Lender and Swing Line Lender with respect to all Letters
of Credit issued by it, and all Swing Line Loans made by it, prior to the
effectiveness of its resignation as Administrative Agent hereunder.

 

10.11.      Other
Representatives.  None of the
Syndication Agent, the Documentation Agents nor any of the entities identified
as joint bookrunners and joint lead arrangers pursuant to the definition of
Other Representative contained herein, shall have any duties or
responsibilities hereunder or under any other Loan Document in its capacity as
such.

 

123

 

10.12.      Swing Line Lender.  The provisions of this Section 10 shall
apply to the Swing Line Lender in its capacity as such to the same extent that
such provisions apply to the Administrative Agent.

 

SECTION 11.         MISCELLANEOUS.

 

11.1.        Amendments
and Waivers.  (a)  Neither this Agreement
nor any other Loan Document, nor any terms hereof or thereof, may be amended,
supplemented, modified or waived except in accordance with the provisions of
this subsection 11.1.  The Required
Lenders may, or, with the written consent of the Required Lenders, the
Administrative Agent may, from time to time, (x) enter into with the respective
Loan Parties hereto or thereto, as the case may be, written amendments,
supplements or modifications hereto and to the other Loan Documents for the
purpose of adding any provisions to this Agreement or to the other Loan
Documents or changing, in any manner the rights or obligations of the Lenders
or the Loan Parties hereunder or thereunder or (y) waive at any Loan Party’s
request, on such terms and conditions as the Required Lenders or the
Administrative Agent, as the case may be, may specify in such instrument, any
of the requirements of this Agreement or the other Loan Documents or any
Default or Event of Default and its consequences; provided, however,
that no such waiver and no such amendment, supplement or modification shall:

 

(i)            reduce the amount or
extend the scheduled date of maturity of any Loan or any Reimbursement
Obligation or of any scheduled installment thereof or reduce the stated rate of
any interest, commission or fee payable hereunder (other than as a result of
any waiver of the applicability of any post-default increase in interest rates)
or extend the scheduled date of any payment thereof or increase the amount or
extend the expiration date of any Lender’s Revolving Credit Commitment or
Tranche B Term Loan Commitment or change the currency in which any Loan or Reimbursement
Obligation is payable, in each case without the consent of each Lender directly
affected thereby (it being understood that waivers or modifications of
conditions precedent, covenants, Defaults or Events of Default or of a
mandatory reduction in the aggregate Commitment of all Lenders shall not
constitute an increase of the Commitment of any Lender, and that an increase in
the available portion of any Commitment of any Lender shall not constitute an
increase in the Commitment of such Lender);

 

(ii)           amend, modify or waive
any provision of this subsection 11.1(a) or reduce the percentage
specified in the definition of Required Lenders or Required Collateral Release
Lenders, or consent to the assignment or transfer by Holding or the Parent
Borrower of any of its rights and obligations under this Agreement and the
other Loan Documents (other than pursuant to subsection 8.5 or 11.6(a)),
in each case without the written consent of all the Lenders;

 

(iii)          release any Guarantor
under the Guarantee and Collateral Agreement or, in the aggregate (in a single
transaction or a series of related transactions), substantially all of the
Collateral without the consent of the Required Collateral Release Lenders,
except as expressly permitted hereby or by any Security Document (as such
documents are in effect on the date hereof or, if later, the date of execution
and delivery thereof in accordance with the terms hereof);

 

124

 

(iv)          subject to paragraph (i)
of this subsection 11.1(a), (A) amend, modify or waive any provision of
subsection 2.5 or subsection 2.6 relating to the Tranche B Dollar
Term Loans without the written consent of the Tranche B Dollar Term Loan
Lenders the Tranche B Dollar Term Loan Percentages of which aggregate greater
than 50% or (B) amend, modify or waive any provision of
subsection 2.5 or subsection 2.6 relating to the Tranche B Euro Term
Loans without the written consent of the Tranche B Euro Term Loan Lenders the
Tranche B Euro Term Loan Percentages of which aggregate greater than 50%;

 

(v)           amend, modify or waive
any provision of subsection 2.1, 2.2, 2.3 or 2.4 or, subject to paragraph
(i) of this subsection 11.1(a), Section 3 without the written consent
of the Revolving Credit Lenders the Revolving Credit Commitment Percentages of
which aggregate greater than 50%;

 

(vi)          (A) amend, modify or
waive the order of application of prepayment specified in
subsection 4.4(f) or the first three sentences of subsection 4.8(a)
without the consent of (x) Revolving Credit Lenders, the Revolving Credit
Commitment Percentages of which aggregate greater than 50% and (y) Tranche B
Term Loan Lenders, the Tranche B Term Loan Percentages of which aggregate
greater than 50%, or (B) amend, modify or waive any requirement or provision of
subsections 4.4 and 4.8 providing that any Tranche of Tranche B Term Loans
receive at least its pro rata share of any mandatory or optional prepayment of
Term Loans without the consent of (A) with respect to any amendment,
modification or waiver as a result of which the Tranche B Dollar Term Loan
Lenders would not receive their pro rata share of such payments, the written
consent of the Tranche B Dollar Term Loan Lenders the Tranche B Dollar Term
Loan Percentages of which aggregate greater than 50% and (B) with respect to
any amendment, modification or waiver as a result of which the Tranche B Euro
Term Loan Lenders would not receive their pro rata share of such payments, the
written consent of the Tranche B Euro Term Loan Lenders the Tranche B Euro Term
Loan Percentages of which aggregate greater than 50%;

 

(vii)         require any Lender to
make Loans having an Interest Period of longer than six months without the
consent of such Lender;

 

(viii)        amend, modify or waive any
provision of Section 10 without the written consent of the then
Administrative Agent and of any Other Representative affected thereby;

 

(ix)           amend, modify or waive
any provision of the Swing Line Note (if any) or subsection 2.4 without
the written consent of the Swing Line Lender and each other Lender, if any,
which holds, or is required to purchase, a participation in any Swing Line Loan
pursuant to subsection 2.4(d); or

 

(x)            amend, modify or waive
the provisions of any Letter of Credit or any L/C Obligation without the
written consent of the Issuing Lender and each affected L/C Participant.

 

125

 

Any waiver and any amendment, supplement or modification pursuant to
this subsection 11.1 shall apply to each of the Lenders and shall be binding
upon the Loan Parties, the Lenders, the Administrative Agent and all future
holders of the Loans.  In the case of
any waiver, each of the Loan Parties, the Lenders and the Administrative Agent
shall be restored to their former position and rights hereunder and under the
other Loan Documents, and any Default or Event of Default waived shall be
deemed to be cured and not continuing; but no such waiver shall extend to any
subsequent or other Default or Event of Default, or impair any right consequent
thereon.

 

(b)           Schedule D and Schedule E
may be amended (and the Credit Agreement may be amended as provided for in
clause (i)(A) below), so long as no Default or Event of Default shall have
occurred and be continuing, as follows:

 

(i)            Schedule E will
be amended to add Subsidiaries as additional Foreign Subsidiary Borrowers
(provided that any such Foreign Subsidiary Borrower and its jurisdiction of
organization (other than in respect to any of the following jurisdictions:
United Kingdom, Canada, France, Belgium and Germany) is reasonably satisfactory
to the Administrative Agent):

 

(A)          if the Parent Borrower
shall have provided at least ten Business Days written notice to the
Administrative Agent of its intention to amend Schedule E to add a Foreign
Subsidiary Borrower (which notice shall specify the name of such Foreign
Subsidiary Borrower and its jurisdiction of organization) (with the
Administrative Agent hereby agreeing to promptly furnish any such notice
received from the Parent Borrower to each Potentially Restricted Revolving
Credit Lender) and either:

 

(x)            the Administrative
Agent shall not have received from any Potentially Restricted Revolving Credit
Lender, prior to the date occurring ten (10) Business Days after the
Administrative Agent received the respective written notice from the Parent
Borrower, written notice to the effect that, in accordance with then applicable
credit policies of such Revolving Credit Lender, as applied consistently, such
Revolving Credit Lender does not generally provide Extensions of Credit in the
jurisdiction of organization of the proposed Foreign Subsidiary Borrower (with
each Potentially Restricted Revolving Credit Lender, if any, which provides
such notice with respect to any jurisdiction being herein called a “Restricted
Revolving Credit Lender” with respect to such jurisdiction); or

 

(y)           there is one or more
Restricted Revolving Credit Lenders with respect to the relevant jurisdiction,
and:

 

 (I)           the
Administrative Agent (or one or more of its Affiliates acting as the “fronting”
Revolving Credit Lender to the respective Foreign Subsidiary Borrower) provides
to such Restricted Revolving Credit Lenders “fronting” arrangements on terms
and conditions customary for DBAG (including with respect

 

126

 

to voting, payment of fees and interest and
indemnities by any applicable Restricted Revolving Credit Lender; it being
understood that no Borrower shall have any greater liability or obligation by
reason of such “fronting” arrangement than in would in the absence of such
arrangement), pursuant to which (a) DBAG or its relevant Affiliate (in its
individual capacity) shall act as the “fronting” Revolving Credit Lender for
such Restricted Revolving Credit Lender(s) in respect of Extensions of Credit
otherwise required to be made to the respective Foreign Subsidiary Borrower
pursuant to the Revolving Loan Commitments of the respective Restricted
Revolving Credit Lender(s), and (b) such Restricted Revolving Credit Lender(s)
shall act as “indemnifying lenders” in respect of Extensions of Credit made by
DBAG (in its capacity as “fronting” Revolving Credit Lender) to such Foreign
Subsidiary Borrower, and

 

(II) in order to implement the
“fronting” and “indemnity” arrangements described in immediately preceding
clause (I), each of the Borrowers and the Administrative Agent, shall have
entered into either (a) amendments to this Agreement, the Exhibits hereto and
any other Loan Documents in form and substance reasonably satisfactory to the
Administrative Agent and the Borrowers or (b) at the option of the
Administrative Agent (in its reasonable discretion), ancillary documents in
form and substance reasonably satisfactory to the Administrative Agent and the
Borrowers (which documents shall be thereafter deemed, for all purposes, to be
“Loan Documents” hereunder) (it being hereby acknowledged and agreed by each
Lender that such Lender shall have no right to consent to any amendment to the
Credit Agreement effected in accordance with this clause (A) effected by the
Administrative Agent and the Borrowers); provided  that
(i) the Administrative Agent hereby agrees to provide to the applicable
Restricted Revolving Credit Lender the “fronting” arrangements described in the
preceding clause (y) and (ii) notwithstanding any provision herein to the
contrary, in the event preceding clause (y) of this subsection 11(b)(i)(A)
is applicable, and any Restricted Revolving Credit Lender decides for any
reason not to agree to (or avail itself of) the “fronting” and “indemnity”
arrangements provided pursuant thereto, (1) such Restricted Revolving Credit
Lender shall remain obligated to directly fund all Extensions of Credit
pursuant to its Revolving Credit Commitment (including, without limitation, to
Foreign Subsidiary Borrowers) unless and until (and then to the extent) it
assigns such Revolving Credit Commitment to another Person in accordance with
the relevant requirements of subsection 11.6, (2) the provisions of this
subsection 11.1(b)(i)(A) shall not be applicable and (3) Schedule E
shall be amended in accordance with the remaining provisions of
subsection 11.1(b)(i)(B) below; and

 

127

 

(B)           upon (I) execution and
delivery by the Parent Borrower, such additional Foreign Subsidiary Borrowers
and the Administrative Agent, of a Joinder Agreement, substantially in the form
of Exhibit M (a “Joinder Agreement”), providing for such Subsidiaries to
become Foreign Subsidiary Borrowers hereunder and Granting Parties, Grantors
and Pledgors under and as defined in the Guarantee and Collateral Agreement (or
shall otherwise enter into collateral and security documents reasonably
satisfactory to the Administrative Agent and providing, to the extent
reasonably practicable under relevant law, substantially the equivalent of the
lien and security interests contemplated to be provided by Granting Parties,
Grantors and Pledgors under the Guarantee and Collateral Agreement), (II)
delivery to the Administrative Agent of (x) in the case of any Foreign
Subsidiary Borrower the Capital Stock of which is held by a Domestic
Subsidiary, a stock pledge agreement (or, if the parent corporation of such
Foreign Subsidiary Borrower is a party to the Guarantee and Collateral
Agreement, a pledge pursuant to such agreement) covering the Capital Stock of
such Foreign Subsidiary Borrower, together with any documents and instruments
necessary to perfect the security interest to be created thereby (which pledge
shall not apply to more than 65% of such parent corporation’s ownership
interest in any such Foreign Subsidiary Borrower), (y) corporate resolutions,
other corporate documents, certificates and legal opinions in respect of such
additional Foreign Subsidiary Borrowers substantially equivalent to comparable
documents delivered on the Closing Date in respect of the Foreign Subsidiary
Borrowers party to this Agreement on the Closing Date or, if there are no
Foreign Subsidiary Borrowers party to this Agreement on the Closing Date, in
respect of the Loan Parties on the Closing Date and (z) such other documents
with respect thereto as the Administrative Agent shall reasonably request, and
(III) execution and delivery by the Parent Borrower, such Foreign Subsidiary
Borrower, all of the Revolving Credit Lenders and the Administrative Agent of a
written instrument providing for such amendment to Schedule E; provided
that the Parent Borrower and its Subsidiaries shall not be required to comply
with the requirements of the foregoing clauses (II)(x), (y) or (z) if the
Administrative Agent, in its sole discretion, determines that the cost of such
compliance is excessive in relation to the value of the collateral security to
be afforded thereby; provided, further, that no document
described in the foregoing clauses (II)(x), (y) or (z) shall be required, or
the form of such document shall be modified, to the extent required to avoid
(A) any violation of applicable law or (B) any violation of the provisions of
any joint venture or other material agreement governing or binding such Domestic
Subsidiary or other Subsidiary of the Parent Borrower.  Any Domestic Subsidiary or other Subsidiary
of the Parent Borrower that cannot execute such a document or whose document
must be amended for the foregoing reasons shall promptly upon any change of law
or waiver or lapse of the applicable contractual restriction enter into such
document or amend the existing document to comply with this
subsection 11.1(b)(i) in a manner reasonably satisfactory to the
Administrative Agent.

 

(ii)           Schedule E will be amended to
remove any Subsidiary as a Foreign Subsidiary Borrower upon execution and
delivery by the Parent Borrower to the

 

128

 

Administrative Agent
of a written notification to such effect and repayment in full of all Loans
made to such Foreign Subsidiary Borrower and repayment in full of all other
amounts owing by such Foreign Subsidiary Borrower under this Agreement and the
other Loan Documents.

 

(c)           Notwithstanding any provision herein
to the contrary, (i) this Agreement may be amended (or amended and restated)
with the written consent of the Required Lenders, the Administrative Agent and
the Parent Borrower (x) to add one or more additional credit facilities to this
Agreement and to permit the extensions of credit from time to time outstanding
thereunder and the accrued interest and fees in respect thereof to share
ratably in the benefits of this Agreement and the other Loan Documents with the
existing Facilities and the accrued interest and fees in respect thereof, (y)
to include, as appropriate, the Lenders holding such credit facilities in any
required vote or action of the Required Lenders or of the Lenders of each
Facility hereunder and (z) to provide class protection for any additional
credit facilities in a manner consistent with those provided the original
Facilities pursuant to the provisions of subsection 11.1(a) as originally
in effect and (ii) Schedule D may be amended, so long as no Default or
Event of Default shall have occurred and be continuing, to add additional
Designated Foreign Currencies upon execution and delivery by the Parent
Borrower, all of the Revolving Credit Lenders and the Administrative Agent of a
written instrument providing for such amendment.

 

(d)           In addition, notwithstanding the
foregoing, this Agreement may be amended with the written consent of the
Administrative Agent, the Parent Borrower and the Lenders providing the
relevant Replacement Term Loans (as defined below) to permit the refinancing of
all outstanding Tranche B Term Loans or any then outstanding Replacement Term
Loans (“Refinanced Term Loans”) with a replacement term loan tranche
hereunder (“Replacement Term Loans”), provided that (i) the aggregate
principal amount of such Replacement Term Loans shall not exceed the aggregate
principal amount of such Refinanced Term Loans, (ii) the Applicable Margin for
such Replacement Term Loans shall not be higher than the Applicable Margin for
such Refinanced Term Loans, (iii) the weighted average life to maturity of such
Replacement Term Loans shall not be shorter than the weighted average life to
maturity of such Refinanced Term Loans at the time of such refinancing and (iv)
all other terms applicable to such Replacement Term Loans shall be
substantially identical to, or less favorable to the Lenders providing such
Replacement Term Loans than, those applicable to such Refinanced Term Loans,
except to the extent necessary to provide for covenants and other terms
applicable to any period after the latest final maturity of the Term Loans in
effect immediately prior to such refinancing.

 

11.2.        Notices.  (a)           All
notices, requests, and demands to or upon the respective parties hereto to be
effective shall be in writing (including telecopy), and, unless otherwise
expressly provided herein, shall be deemed to have been duly given or made when
delivered by hand, or three days after being deposited in the mail, postage
prepaid, or, in the case of telecopy notice, when received, or, in the case of
delivery by a nationally recognized overnight courier, when received, addressed
as follows in the case of the Borrowers and the Administrative Agent, and as
set forth in Schedule A in the case of the other parties hereto, or to
such other address as may be hereafter notified by the respective parties
hereto and any future holders of the Loans:

 

129

 

	
  Holding:

  	
  c/o
  VWR International, Inc.

  
	
   

  	
  1310
  Goshen Parkway

  
	
   

  	
  West
  Chester, PA 19380

  
	
   

  	
   

  
	
   

  	
  Attention:
  Chief Financial Officer

  
	
   

  	
  Facsimile:
  (610) 701-9896

  
	
   

  	
  Telephone:
  (610) 719-7072

  
	
   

  	
   

  
	
  with
  a copy to:

  	
  Debevoise
  & Plimpton LLP

  
	
   

  	
  919
  Third Avenue

  
	
   

  	
  New
  York, New York  10022

  
	
   

  	
  Attention:  David A. Brittenham, Esq.

  
	
   

  	
  Facsimile:   (212) 909-6836

  
	
   

  	
  Telephone:  (212) 909-6000

  
	
   

  	
   

  
	
  The
  Borrowers:

  	
  c/o
  VWR International, Inc.

  
	
   

  	
  1310
  Goshen Parkway

  
	
   

  	
  West
  Chester, PA 19380

  
	
   

  	
   

  
	
   

  	
  Attention:
  Chief Financial Officer

  
	
   

  	
  Facsimile:
  (610) 701-9896

  
	
   

  	
  Telephone:
  (610) 719-7072

  
	
   

  	
   

  
	
  with
  a copy to:

  	
  Debevoise
  & Plimpton LLP

  
	
   

  	
  919
  Third Avenue

  
	
   

  	
  New
  York, New York  10022

  
	
   

  	
  Attention:  David A. Brittenham, Esq.

  
	
   

  	
  Facsimile:   (212) 909-6836

  
	
   

  	
  Telephone:  (212) 909-6000

  
	
   

  	
   

  
	
  The
  Administrative Agent:

  	
  Deutsche
  Bank AG, New York Branch

  
	
   

  	
  Attention:  John-L. Quinn

  
	
   

  	
  Group
  Technology & Operations (GTO)

  
	
   

  	
  Floor
  01

  
	
   

  	
  90
  Hudson Street

  
	
   

  	
  Jersey
  City, NJ

  
	
   

  	
  Facsimile:   (201) 593-2310

  
	
   

  	
  Telephone:  (201) 5932177

  

 

provided that any notice, request or demand
to or upon the Administrative Agent or the Lenders pursuant to
subsection 2.2, 2.4, 2.7, 3.2, 4.2, 4.4 or 4.8 shall not be effective
until received.

 

(b)           Without in any way limiting the
obligation of the Parent Borrower and its Subsidiaries to confirm in writing
any telephonic notice permitted to be given hereunder, the Administrative
Agent, the Swing Line Lender (in the case of a Borrowing of Swing Line Loans)
or any Issuing Lender (in the case of the issuance of a Letter of Credit), as
the case may be, may prior to receipt of written confirmation act without
liability upon the basis of such telephonic

 

130

 

notice, believed by the Administrative Agent,
the Swing Line Lender or such Issuing Lender in good faith to be from a
Responsible Officer.

 

11.3.        No Waiver;
Cumulative Remedies.  No
failure to exercise and no delay in exercising, on the part of the
Administrative Agent, any Lender or any Loan Party, any right, remedy, power or
privilege hereunder or under the other Loan Documents 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.

 

11.4.        Survival
of Representations and Warranties.  All representations and warranties made hereunder and in the
other Loan Documents (or in any amendment, modification or supplement hereto or
thereto) and in any certificate delivered pursuant hereto or such other Loan
Documents shall survive the execution and delivery of this Agreement and the
making of the Loans hereunder.

 

11.5.        Payment of
Expenses and Taxes.  The Parent
Borrower agrees (a) to pay or reimburse the Administrative Agent and the
Other Representatives for all their reasonable out-of-pocket costs and expenses
incurred in connection with the preparation, execution and delivery of, and any
amendment, supplement, waiver or modification to, this Agreement and the other
Loan Documents and any other documents prepared in connection herewith or
therewith, and the consummation and administration of the transactions
(including the syndication of the Revolving Credit Commitments, Tranche B Term
Loan Commitments and Tranche B Term Loans (including the reasonable expenses of
the Administrative Agent’s due diligence investigation) and the monitoring of
the Collateral) contemplated hereby and thereby, including, without limitation,
the reasonable fees, expenses and disbursements of Cahill Gordon & Reindel
LLP, with respect to fees and expenses incurred on or prior to
February 15, 2004, and thereafter White & Case LLP, and consultants
and local and foreign counsel whose retention is approved by the Parent
Borrower, (b) to pay or reimburse each Lender, each Other Representative and
the Administrative Agent for all its reasonable costs and expenses incurred in
connection with the enforcement or preservation of any rights under this
Agreement, the other Loan Documents and any such other documents, including,
without limitation, the reasonable fees and disbursements of counsel to the
Administrative Agent, the Other Representatives and the several Lenders, and
any reasonable Environmental Costs incurred by any of them arising out of or in
any way relating to any Loan Party or any property in which any Loan Party has
had any interest at any time, (c) to pay, and indemnify and hold harmless each
Lender, the Administrative Agent and the Other Representatives from and
against, any and all recording and filing fees and any and all liabilities with
respect to, or resulting from any delay in paying, stamp, excise and other
similar taxes, if any, which may be payable or determined to be payable in
connection with the execution and delivery of, or consummation or
administration of any of the transactions contemplated by, or any amendment,
supplement or modification of, or any waiver or consent under or in respect of,
this Agreement, the other Loan Documents and any such other documents, and (d)
to pay, and indemnify and hold harmless each Lender, the Administrative Agent
and the Other Representatives (and their respective directors, trustees,
officers, employees, affiliates, controlling persons, agents, successors and
assigns) from and against, any and all other liabilities, obligations, losses,
damages, penalties, actions, judgments, suits, costs, expenses or

 

131

 

disbursements of any kind or nature whatsoever (whether or not caused
by any such Person’s own negligence (other than gross negligence) and
including, without limitation, the reasonable fees and disbursements of
counsel) with respect to the execution, delivery, enforcement, performance and
administration of this Agreement, the other Loan Documents and any such other
documents (regardless of whether the Administrative Agent, any such Other
Representative or any Lender is a party to the litigation or other proceeding
giving rise thereto and regardless of whether any such litigation or other
proceeding is brought by the Parent Borrower or any other Person), including,
without limitation, any of the foregoing relating to the violation of,
noncompliance with, or liability under, any Environmental Laws or any orders,
requirements or demands of Governmental Authorities related thereto applicable
to the operations of the Parent Borrower, any of its Subsidiaries or any of the
facilities and properties owned, leased or operated by the Parent Borrower or
any of its Subsidiaries (all the foregoing in this clause (d), collectively,
the “indemnified liabilities”), provided that the Parent Borrower
shall not have any obligation hereunder to the Administrative Agent, any such
Other Representative or any Lender with respect to Environmental Costs or
indemnified liabilities arising from (i) the gross negligence or willful
misconduct of the Administrative Agent, any Other Representative or any such
Lender (or any of their respective directors, trustees, officers, employees,
agents, successors and assigns) or (ii) claims made or legal proceedings
commenced against the Administrative Agent, any Other Representative or any
such Lender by any security holder or creditor thereof arising out of and based
upon rights afforded any such security holder or creditor solely in its capacity
as such.  Notwithstanding the foregoing,
except as provided in clauses (b) and (c) above, the Parent Borrower shall have
no obligation under this subsection 11.5 to the Administrative Agent, any
Other Representative or any Lender with respect to any tax, levy, impost, duty,
charge, fee, deduction or withholding imposed, levied, collected, withheld or
assessed by any Governmental Authority. 
The agreements in this subsection shall survive repayment of the Loans
and all other amounts payable hereunder.

 

11.6.        Successors
and Assigns; Participations and Assignments.  (a) 
The provisions of this Agreement shall be binding upon and inure to the
benefit of the parties hereto and their respective successors and assigns
permitted hereby (including any affiliate of the Issuing Lender that issues any
Letter of Credit), except that (i) other than in accordance with
subsection 8.5 or the Assumption, none of the Loan Parties may assign or
otherwise transfer any of its rights or obligations hereunder without the prior
written consent of each Lender (and any attempted assignment or transfer by any
Loan Party without such consent shall be null and void) and (ii) no Lender may
assign or otherwise transfer its rights or obligations hereunder except in
accordance with this Section.

 

(b)           (i)  Subject to the
conditions set forth in paragraph (b)(ii) below, any Lender other than a
Conduit Lender may, in the ordinary course of business and in accordance with
applicable law, assign to one or more assignees (each, an “Assignee”) all
or a portion of its rights and obligations under this Agreement (including,
without limitation, its Revolving Credit Commitment, Tranche B Term Loan
Commitment and/or Loans, pursuant to an Assignment and Acceptance,
substantially in the form of Exhibit F) with the prior written consent (such
consent not to be unreasonably withheld or delayed) of:

 

(A)                              the Parent Borrower, provided
that no consent of the Parent Borrower shall be required for an assignment to a
Lender, an affiliate of a Lender, an

 

132

 

Approved
Fund (as defined below) or, if an Event of Default under subsection 9(a)
or (f) has occurred and is continuing, any other Person; provided
 further that if any Lender assigns all or a
portion of its rights and obligations under this Agreement to one of its
affiliates in connection with or in contemplation of the sale or other
disposition of its interest in such affiliate, the Parent Borrower’s prior
written consent shall be required for such assignment; and

 

(B)                                the Administrative Agent.

 

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

 

(A)                              except in the case of an assignment
to a Lender, an affiliate of a Lender or an Approved Fund or an assignment of
the entire remaining amount of the assigning Lender’s Commitments or Loans
under any Facility, the amount of the Commitments or 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) shall not be less than $5,000,000 (or, (x) in the case of
the Tranche B Dollar Term Loan Commitments or the Tranche B Dollar Term Loans
made thereunder, $1,000,000 or (y) in the case of the Tranche B Euro Term Loan Commitments
or the Tranche B Euro Term Loans made thereunder, €1,000,000) unless the Parent
Borrower and the Administrative Agent otherwise consent, provided that
(1) no such consent of the Parent Borrower shall be required if an Event of
Default under subsection 9(a) or (f) has occurred and is continuing and
(2) such amounts shall be aggregated in respect of each Lender and its
affiliates or Approved Funds, if any;

 

(B)                                the parties to each assignment shall
execute and deliver to the Administrative Agent an Assignment and Acceptance,
together with a processing and recordation fee of $3,500; and

 

(C)                                the Assignee, if it shall not be a
Lender, shall deliver to the Administrative Agent an administrative
questionnaire.

 

For the purposes of this subsection 11.6, the term “Approved
Fund” has the following meaning: 
“Approved Fund” means any Person (other than a natural person) that is
engaged in making, purchasing, holding or investing in bank loans and similar
extensions of credit in the ordinary course of its business and that is
administered or managed by (a) a Lender, (b) an affiliate of a Lender or (c) an
entity or an affiliate of an entity that administers or manages a Lender.

 

(iii)          Subject to acceptance and recording
thereof pursuant to paragraph (b)(iv) below, from and after the effective date
specified in each Assignment and Assumption the Assignee thereunder shall be a
party hereto and, to the extent of the interest assigned by such Assignment and
Assumption, have the rights and obligations of a Lender under

 

133

 

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 (and bound by any related obligations under)
subsections 4.10, 4.11, 4.12, 4.13 and 11.5). 
Any assignment or transfer by a Lender of rights or obligations under
this Agreement that does not comply with this subsection 11.6 shall be
treated for purposes of this Agreement as a sale by such Lender of a
participation in such rights and obligations in accordance with paragraph (c)
of this subsection.

 

(iv)          The Borrowers hereby designate the
Administrative Agent, and the Administrative Agent agrees, to serve as the
Borrowers’ agent, solely for purposes of this subsection 11.6, to maintain
at one of its offices in New York, New York 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 interest and
principal amount 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 absent manifest error, and the Borrowers, the Administrative Agent,
the Issuing Lender and the Lenders shall treat each Person whose name is
recorded in the Register pursuant to the terms hereof as a Lender hereunder for
all purposes of this Agreement, notwithstanding notice to the contrary.  The Register shall be available for
inspection by the Borrowers, the Issuing Lender and any Lender, at any
reasonable time and from time to time upon reasonable prior notice.

 

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

 

(vi)          On or prior to the effective date of
any assignment pursuant to this subsection 11.6(b), the assigning Lender
shall surrender any outstanding Notes held by it all or a portion of which are
being assigned.  Any Notes surrendered
by the assigning Lender shall be returned by the Administrative Agent to the
Parent Borrower marked “cancelled”.

 

Notwithstanding
the foregoing, no Assignee, which as of the date of any assignment to it
pursuant to this subsection 11.6(b) would be entitled to receive any
greater payment under subsection 4.10 or 4.11 than the assigning Lender
would have been entitled to receive as of such date under such subsections with
respect to the rights assigned, shall be entitled to receive such greater
payments unless the Parent Borrower has expressly consented in writing to waive
the benefit of this provision at the time of such assignment.

 

134

 

(c)           (i)  Any Lender other than
a Conduit Lender may, in the ordinary course of its business and in accordance
with applicable law, without the consent of the Parent Borrower or the
Administrative Agent, sell participations to one or more banks or other
entities (a “Participant”) in all or a portion of such Lender’s rights
and obligations under this Agreement (including all or a portion of its
Commitments and the Loans owing to it); provided that (A) such Lender’s
obligations under this Agreement shall remain unchanged, (B) such Lender shall
remain solely responsible to the other parties hereto for the performance of
such obligations, (C) such Lender shall remain the holder of any such Loan for
all purposes under this Agreement and the other Loan Documents, and (D) the
Parent Borrower, the Administrative Agent, the Issuing Lender 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 pursuant to which a Lender
sells such a participation shall provide that such Lender shall retain the sole
right to enforce this Agreement and to approve any amendment, modification or waiver
of any provision of this Agreement; provided that such agreement may
provide that such Lender will not, without the consent of the Participant,
agree to any amendment, modification or waiver that (1) requires the consent of
each Lender directly affected thereby pursuant to the proviso to the second
sentence of subsection 11.1(a) and (2) directly affects such
Participant.  Subject to paragraph
(c)(ii) of this subsection, each Borrower agrees that each Participant shall be
entitled to the benefits of (and shall have the related obligations under)
subsections 4.10, 4.11, 4.12, 4.13 and 11.5 to the same extent as if it were a
Lender and had acquired its interest by assignment pursuant to paragraph (b) of
this subsection.  To the extent
permitted by law, each Participant also shall be entitled to the benefits of
subsection 11.7(b) as though it were a Lender, provided such Participant
shall be subject to subsection 11.7(a) as though it were a Lender.

 

(ii)           No Loan Party shall be obligated to make any
greater payment under subsection 4.10 or 4.11 than it would have been
obligated to make in the absence of any participation, unless the sale of such
participation is made with the prior written consent of the Parent Borrower and
the Parent Borrower expressly waives the benefit of this provision at the time
of such participation.  Any Participant
that is not incorporated under the laws of the United States of America or a
state thereof shall not be entitled to the benefits of subsection 4.11
unless such Participant complies with subsection 4.11(b) and provides the
forms and certificates referenced therein to the Lender that granted such
participation.

 

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

 

(e)           No assignment or participation made
or purported to be made to any Assignee or Participant shall be effective
without the prior written consent of the Parent Borrower if it would require
the Parent Borrower to make any filing with any Governmental Authority or
qualify any Loan or Note under the laws of any jurisdiction, and the Parent
Borrower shall be entitled to request and receive such information and
assurances as it may

 

135

 

reasonably request from any Lender or any
Assignee or Participant to determine whether any such filing or qualification
is required or whether any assignment or participation is otherwise in
accordance with applicable law.

 

(f)            Notwithstanding the foregoing, any
Conduit Lender may assign any or all of the Loans it may have funded hereunder
to its designating Lender without the consent of the Parent Borrower or the
Administrative Agent and without regard to the limitations set forth in
subsection 11.6(b).  Each Borrower,
each Lender and the Administrative Agent hereby confirms that it will not
institute against a Conduit Lender or join any other Person in instituting
against a Conduit Lender any bankruptcy, reorganization, arrangement,
insolvency or liquidation proceeding under any state bankruptcy or similar law,
for one year and one day after the payment in full of the latest maturing
commercial paper note issued by such Conduit Lender; provided, however,
that each Lender designating any Conduit Lender hereby agrees to indemnify, save
and hold harmless each other party hereto for any loss, cost, damage or expense
arising out of its inability to institute such a proceeding against such
Conduit Lender during such period of forbearance.  Each such indemnifying Lender shall pay in full any claim
received from the Parent Borrower pursuant to this subsection 11.6(f)
within 30 Business Days of receipt of a certificate from a Responsible Officer
of the Parent Borrower specifying in reasonable detail the cause and amount of
the loss, cost, damage or expense in respect of which the claim is being
asserted, which certificate shall be conclusive absent manifest error.  Without limiting the indemnification
obligations of any indemnifying Lender pursuant to this
subsection 11.6(f), in the event that the indemnifying Lender fails timely
to compensate the Parent Borrower for such claim, any Loans held by the
relevant Conduit Lender shall, if requested by the Parent Borrower, be assigned
promptly to the Lender that administers the Conduit Lender and the designation
of such Conduit Lender shall be void.

 

(g)           If the Parent Borrower wishes to
replace the Loans or Commitments under any Facility with ones having different
terms, it shall have the option, with the consent of the Administrative Agent
and subject to at least three Business Days’ advance notice to the Lenders
under such Facility, instead of prepaying the Loans or reducing or terminating
the Commitments to be replaced, to (i) require the Lenders under such Facility
to assign such Loans or Commitments to the Administrative Agent or its
designees and (ii) amend the terms thereof in accordance with
subsection 11.1 (with such replacement, if applicable, being deemed to
have been made pursuant to subsection 11.1(d)).  Pursuant to any such assignment, all Loans and Commitments to be
replaced shall be purchased at par (allocated among the Lenders under such
Facility in the same manner as would be required if such Loans were being
optionally prepaid or such Commitments were being optionally reduced or terminated
by the Borrowers), accompanied by payment of any accrued interest and fees
thereon and any amounts owing pursuant to subsection 4.12.  By receiving such purchase price, the
Lenders under such Facility shall automatically be deemed to have assigned the
Loans or Commitments under such Facility pursuant to the terms of the form of
Assignment and Acceptance attached hereto as Exhibit F, and accordingly no
other action by such Lenders shall be required in connection therewith.  The provisions of this paragraph are
intended to facilitate the maintenance of the perfection and priority of
existing security interests in the Collateral during any such replacement.

 

11.7.        Adjustments;
Set-off; Calculations; Computations. 
(a)  If any Lender (a “benefited
Lender”) shall at any time receive any payment of all or part of its
Revolving Credit

 

136

 

Loans, any Tranche of its Term Loans or the Reimbursement Obligations
owing to it, or interest thereon, or receive any collateral in respect thereof
(whether voluntarily or involuntarily, by set-off, pursuant to events or
proceedings of the nature referred to in subsection 9(f), or otherwise
(except pursuant to subsection 4.4, 4.13(d) or 11.6)), in a greater proportion
than any such payment to or collateral received by any other Lender, if any, in
respect of such other Lender’s Revolving Credit Loans, any Tranche of its Term
Loans or the Reimbursement Obligations, as the case may be, owing to it, or
interest thereon, such benefited Lender shall purchase for cash from the other
Lenders an interest (by participation, assignment or otherwise) in such portion
of each such other Lender’s Revolving Credit Loans, any Tranche of its Term
Loans or the Reimbursement Obligations, as the case may be, owing to it, or
shall provide such other Lenders with the benefits of any such collateral, or
the proceeds thereof, as shall be necessary to cause such benefited Lender to
share the excess payment or benefits of such collateral or proceeds ratably
with each of the Lenders; provided, however, that if all or any
portion of such excess payment or benefits is thereafter recovered from such
benefited Lender, such purchase shall be rescinded, and the purchase price and
benefits returned, to the extent of such recovery, but without interest.

 

(b)           In addition to any rights and
remedies of the Lenders provided by law, each Lender shall have the right,
without prior notice to any Borrower, any such notice being expressly waived by
each Borrower to the extent permitted by applicable law, upon the occurrence of
an Event of Default under subsection 9(a) to set-off and appropriate and
apply against any amount then due and payable under subsection 9(a) by
such Borrower any and all deposits (general or special, time or demand,
provisional or final), in any currency, and any other credits, indebtedness or
claims, in any currency, in each case whether direct or indirect, absolute or
contingent, matured or unmatured, at any time held or owing by such Lender or
any branch or agency thereof to or for the credit or the account of such
Borrower.  Each Lender agrees promptly
to notify the Parent Borrower and the Administrative Agent after any such
set-off and application made by such Lender, provided that the failure
to give such notice shall not affect the validity of such set-off and
application.

 

11.8.        Judgment.  (a)  If for the purpose of
obtaining judgment in any court it is necessary to convert a sum due hereunder
in one currency into another currency, the parties hereto agree, to the fullest
extent that they may effectively do so, that the rate of exchange used shall be
that at which in accordance with normal banking procedures the Administrative
Agent could purchase the first currency with such other currency on the Business
Day preceding the day on which final judgment is given.

 

(b)           The obligations of each Borrower in
respect of this Agreement and any Note due to any party hereto or any holder of
any bond shall, notwithstanding any judgment in a currency (the “judgment
currency”) other than the currency in which the sum originally due to such
party or such holder is denominated (the “original currency”), be
discharged only to the extent that on the Business Day following receipt by
such party or such holder (as the case may be) of any sum adjudged to be so due
in the judgment currency such party or such holder (as the case may be) may in
accordance with normal banking procedures purchase the original currency with
the judgment currency; if the amount of the original currency so purchased is
less than the sum originally due to such party or such holder (as the case may
be) in the original currency, such Borrower agrees as a separate obligation and
notwithstanding any such judgment, to

 

137

 

indemnify such party or such holder (as the
case may be) against such loss, and if the amount of the original currency so
purchased exceeds the sum originally due to any party to this Agreement or any
holder of Notes (as the case may be), such party or such holder (as the case
may be), agrees to remit to such Borrower, such excess.  This covenant shall survive the termination
of this Agreement and payment of the Loans and all other amounts payable
hereunder.

 

11.9.        Counterparts.  This Agreement may be executed by one or
more of the parties to this Agreement on any number of separate counterparts
(including by telecopy), and all of such counterparts taken together shall be
deemed to constitute one and the same instrument.  A set of the copies of this Agreement signed by all the parties
shall be delivered to the Parent Borrower and the Administrative Agent.

 

11.10.      Severability.  Any provision of this Agreement which is
prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction,
be ineffective to the extent of such prohibition or unenforceability without
invalidating the remaining provisions hereof, and any such prohibition or
unenforceability in any jurisdiction shall not invalidate or render
unenforceable such provision in any other jurisdiction.

 

11.11.      Integration.  This Agreement and the other Loan Documents
represent the entire agreement of each of the Loan Parties party hereto, the
Administrative Agent and the Lenders with respect to the subject matter hereof,
and there are no promises, undertakings, representations or warranties by any
of the Loan Parties party hereto, the Administrative Agent or any Lender
relative to the subject matter hereof not expressly set forth or referred to
herein or in the other Loan Documents.

 

11.12.      GOVERNING LAW.  THIS AGREEMENT AND ANY NOTES AND THE RIGHTS
AND OBLIGATIONS OF THE PARTIES UNDER THIS AGREEMENT AND ANY NOTES SHALL BE
GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAW OF THE
STATE OF NEW YORK.

 

11.13.      Submission
To Jurisdiction; Waivers. 
(a)  Each party hereto hereby
irrevocably and unconditionally:

 

(i)            submits for itself and
its property in any legal action or proceeding relating to this Agreement and
the other Loan Documents to which it is a party, or for recognition and
enforcement of any judgment in respect thereof, to the non-exclusive general
jurisdiction of the courts of the State of New York, the courts of the
United States of America for the Southern District of New York, and
appellate courts from any thereof;

 

(ii)           consents that any such
action or proceeding may be brought in such courts and waives any objection
that it may now or hereafter have to the venue of any such action or proceeding
in any such court or that such action or proceeding was brought in an
inconvenient forum and agrees not to plead or claim the same;

 

(iii)          agrees that service of
process in any such action or proceeding may be effected by mailing a copy
thereof by registered or certified mail (or any

 

138

 

substantially similar form of mail), postage
prepaid, to the applicable Borrower (or, in the case of any Foreign Subsidiary
Borrower, as specified in paragraph (b)), the applicable Lender or the
Administrative Agent, as the case may be, at the address specified in
subsection 11.2 or at such other address of which the Administrative
Agent, any such Lender and any such Borrower shall have been notified pursuant
thereto;

 

(iv)          agrees that nothing
herein shall affect the right to effect service of process in any other manner
permitted by law or shall limit the right to sue in any other jurisdiction; and

 

(v)           waives, to the maximum
extent not prohibited by law, any right it may have to claim or recover in any
legal action or proceeding referred to in this subsection any
consequential or punitive damages.

 

(b)           Upon any Foreign Subsidiary becoming
a Foreign Subsidiary Borrower in accordance with subsection 11.1(b), such
Foreign Subsidiary Borrower hereby agrees to irrevocably and unconditionally
appoint an agent for service of process located in The City of New York
(the “New York Process Agent”), reasonably satisfactory to the
Administrative Agent, as its agent to receive on behalf of such Foreign
Subsidiary Borrower and its property service of copies of the summons and
complaint and any other process which may be served in any action or proceeding
in any such New York State or Federal court described in paragraph (a) of
this subsection and agrees promptly to appoint a successor New York Process
Agent in The City of New York (which successor New York Process Agent
shall accept such appointment in a writing reasonably satisfactory to the
Administrative Agent) prior to the termination for any reason of the
appointment of the initial New York Process Agent.  In any such action or proceeding in such
New York State or Federal court, such service may be made on such Foreign
Subsidiary Borrower by delivering a copy of such process to such Foreign Subsidiary
Borrower in care of the New York Process Agent at the New York
Process Agent’s address and by depositing a copy of such process in the mails
by certified or registered air mail, addressed to such Foreign Subsidiary
Borrower at its address specified in subsection 11.2 with (if applicable)
a copy to the Parent Borrower (such service to be effective upon such receipt
by the New York Process Agent and the depositing of such process in the
mails as aforesaid).  Each of the
Foreign Subsidiary Borrowers hereby irrevocably and unconditionally authorizes
and directs the New York Process Agent to accept such service on its
behalf. As an alternate method of service, each of the Foreign Subsidiary
Borrowers irrevocably and unconditionally consents to the service of any and
all process in any such action or proceeding in such New York State or
Federal court by mailing of copies of such process to such Foreign Subsidiary
Borrower by certified or registered air mail at its address specified in
subsection 11.2.  Each of the
Foreign Subsidiary Borrowers agrees that, to the fullest extent permitted by
applicable law, a final judgment in any such action or proceeding shall be
conclusive and may be enforced in other jurisdictions by suit on the judgment
or in any other manner provided by law.

 

(c)           To the extent that any Foreign
Subsidiary Borrower has or hereafter may acquire any immunity (sovereign or
otherwise) from any legal action, suit or proceeding, from jurisdiction of any
court or from set-off or any legal process (whether service or notice,
attachment prior to judgment, attachment in aid of execution of judgment, execution
of judgment

 

139

 

or otherwise) with respect to
itself or any of its property, such Foreign Subsidiary Borrower hereby
irrevocably waives and agrees not to plead or claim such immunity in respect of
its obligations under this Agreement and any Note.

 

11.14.      Acknowledgements.  Each Borrower hereby acknowledges that:

 

(a)           it has been advised by counsel in
the negotiation, execution and delivery of this Agreement and the other Loan
Documents;

 

(b)           neither the Administrative Agent nor
any Other Representative or Lender has any fiduciary relationship with or duty
to any Borrower arising out of or in connection with this Agreement or any of
the other Loan Documents, and the relationship between the Administrative Agent
and Lenders, on the one hand, and the Borrowers, on the other hand, in
connection herewith or therewith is solely that of creditor and debtor; and

 

(c)           no joint venture is created hereby
or by the other Loan Documents or otherwise exists by virtue of the
transactions contemplated hereby and thereby among the Lenders or among any of
the Borrowers and the Lenders.

 

11.15.      WAIVER OF JURY TRIAL.  EACH OF THE BORROWERS, THE ADMINISTRATIVE
AGENT AND THE LENDERS HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVE TRIAL BY
JURY IN ANY LEGAL ACTION OR PROCEEDING RELATING TO THIS AGREEMENT OR ANY NOTES
OR ANY OTHER LOAN DOCUMENT AND FOR ANY COUNTERCLAIM THEREIN.

 

11.16.      Confidentiality.  The Administrative Agent and each Lender
agrees to keep confidential any information (a) provided to it by or on behalf
of Holding, the Parent Borrower or any of their respective Subsidiaries
pursuant to or in connection with the Loan Documents or (b) obtained by such
Lender based on a review of the books and records of Holding, the Parent
Borrower or any of their respective Subsidiaries; provided that nothing
herein shall prevent any Lender from disclosing any such information (i) to the
Administrative Agent, any Other Representative or any other Lender, (ii) to any
Transferee, or prospective Transferee or any creditor or any actual or
prospective counterparty (or its advisors) to any swap or derivative
transaction relating to any Borrower and its obligations which agrees to comply
with the provisions of this subsection pursuant to a written instrument
(or electronically recorded agreement from any Person listed above in this
clause (ii), which Person has been approved by the Parent Borrower (such
approval not be unreasonably withheld), in respect to any electronic
information (whether posted or otherwise distributed on Intralinks or any other
electronic distribution system)) for the benefit of the Parent Borrower (it
being understood that each relevant Lender shall be solely responsible for
obtaining such instrument (or such electronically recorded agreement)), (iii)
to its affiliates and the employees, officers, directors, agents, attorneys,
accountants and other professional advisors of it and its affiliates, provided
that such Lender shall inform each such Person of the agreement under this
subsection 11.16 and take reasonable actions to cause compliance by any
such Person referred to in this clause (iii) with this agreement (including,
where appropriate, to cause any such Person to acknowledge its agreement to be
bound by the agreement under this subsection 11.16), (iv) upon the request
or

 

140

 

demand of any Governmental Authority having jurisdiction over such
Lender or its affiliates or to the extent required in response to any order of
any court or other Governmental Authority or as shall otherwise be required
pursuant to any Requirement of Law, provided that such Lender shall,
unless prohibited by any Requirement of Law, notify the Parent Borrower of any
disclosure pursuant to this clause (iv) as far in advance as is reasonably
practicable under such circumstances, (v) which has been publicly disclosed
other than in breach of this Agreement, (vi) in connection with the exercise of
any remedy hereunder, under any Loan Document or under any Interest Rate
Protection Agreement, (vii) in connection with periodic regulatory examinations
and reviews conducted by the National Association of Insurance Commissioners or
any Governmental Authority having jurisdiction over such Lender or its
affiliates (to the extent applicable), (viii) in connection with any litigation
to which such Lender (or, with respect to any Interest Rate Protection
Agreement, any affiliate of any Lender party thereto) may be a party, subject
to the proviso in clause (iv), and (ix) if, prior to such information having
been so provided or obtained, such information was already in the
Administrative Agent’s or a Lender’s possession on a non-confidential basis
without a duty of confidentiality to any Borrower being violated.

 

11.17.      USA Patriot Act
Notice.  Each Lender hereby
notifies each Borrower that pursuant to the requirements of the USA Patriot Act
(Title III of Pub.: 107-56 (signed into law October 26, 2001)) (the “Patriot
Act”), it is required to obtain, verify, and record information that
identifies each Borrower, which information includes the name of each Borrower
and other information that will allow such Lender to identify each Borrower in
accordance with the Patriot Act, and each Borrower agrees to provide such
information from time to time to any Lender.

 

11.18.      Special
Provisions Regarding Pledges of Capital Stock in, and Promissory
Notes Owed by, Persons Not Organized in the U.S.  To the extent any Security Document requires or provides for the
pledge of promissory notes issued by, or Capital Stock in, any Person organized
under the laws of a jurisdiction outside the United States, it is acknowledged
that, as of the Closing Date, no actions have been required to be taken to
perfect, under local law of the jurisdiction of the Person who issued the
respective promissory notes or whose Capital Stock is pledged, under the
Security Documents.  The Parent Borrower
hereby agrees that, following any request by the Administrative Agent or
Required Lenders to do so, the Parent Borrower shall, and shall cause its
Subsidiaries to, take (to the extent they may lawfully do so) such actions
(including, without limitation, the making of any filings and the delivery of
appropriate legal opinions) under the local law of any jurisdiction with
respect to which such actions have not already been taken as are reasonably
determined by the Administrative Agent or Required Lenders to be necessary or
reasonably desirable in order to fully perfect, preserve or protect the
security interests granted pursuant to the various Security Documents under the
laws of such jurisdictions.

 

141

 

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

 

	
   

  	
  CDRV ACQUISITION CORPORATION

  
	
   

  	
  (the rights and obligations of which hereunder are to be

  assumed by VWR INTERNATIONAL, INC.)

  
	
   

  	
   

  
	
   

  	
  By:

  	
   /s/ RICHARD J. SCHNALL

  	
   

  
	
   

  	
   

  	
  Name: Richard Schnall

  
	
   

  	
   

  	
  Title: President

  
	
   

  	
   

  
	
   

  	
  DEUTSCHE BANK AG, NEW YORK BRANCH, as

  Administrative Agent

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ DIANE F. ROLFE

  	
   

  
	
   

  	
   

  	
  Name: Daniel F. Rolfe

  
	
   

  	
   

  	
  Title: Vice President

  
	
   

  	
   

  
	
   

  	
  CITICORP NORTH AMERICA, INC., as Syndication Agent

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ PAUL SHARKEY

  	
   

  
	
   

  	
   

  	
  Name: Paul Sharkey

  
	
   

  	
   

  	
  Title: Voce President

  
	
   

  	
   

  
	
   

  	
  BANK OF AMERICA, N.A., as a Documentation Agent

  
	
   

  	
   

  
	
   

  	
  By:  

  	
  /s/ DOUGLAS M. INGRAM

  	
   

  
	
   

  	
   

  	
  Name: Douglas M. Ingram

  
	
   

  	
   

  	
  Title: Principal

  
	
   

  	
   

  
	
   

  	
  BNP PARIBAS, as a Documentation Agent

  
	
   

  	
   

  
	
   

  	
  By: 

  	
  /s/ STEPHANIE ROGERS

  	
   

  
	
   

  	
   

  	
  Name: Stephanie Rogers

  
	
   

  	
   

  	
  Title: Vice President

  
	
   

  	
   

  
	
   

  	
  By:  

  	
  /s/ GREGG BONARDI

  	
   

  
	
   

  	
   

  	
  Name: Gregg Bonardi

  
	
   

  	
   

  	
  Title: Director

  
								

 

142

 

	
   

  	
  BARCLAYS BANK PLC, as a Documentation Agent

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ JOHN GIANNONE

  	
   

  
	
   

  	
   

  	
  Name: John Giannone

  
	
   

  	
   

  	
  Title: Director

  
	
   

  	
   

  
	
   

  	
  PNC BANK, NATIONAL ASSOCIATION

  
	
   

  	
   

  
	
   

  	
  By:  

  	
  /s/ DENISE D. KILLEN

  	
   

  
	
   

  	
   

  	
  Name: Denise D. Killen

  
	
   

  	
   

  	
  Title: Vice President

  
	
   

  	
   

  
	
   

  	
  NATIONAL CITY BANK

  
	
   

  	
   

  
	
   

  	
  By:  

  	
  /s/ TOM GURBACH

  	
   

  
	
   

  	
   

  	
  Name: Tom Gurbach

  
	
   

  	
   

  	
  Title: Vice President

  
	
   

  	
   

  
	
   

  	
  GENERAL ELETRIC CAPITAL CORPORATION

  
	
   

  	
   

  
	
   

  	
  By:  

  	
  /s/ EARL F. SMITH III

  	
   

  
	
   

  	
   

  	
  Name: Earl F. Smith III

  
	
   

  	
   

  	
  Title: Duly Authorized Signatory

  
						

 

143

 

	
   

  	
  COMMERZBANK, AG, NEW YORK AND GRAND

  CAYMAN BRANCHES

  
	
   

  	
   

  
	
   

  	
  By:  

  	
  /s/ MARIANNE I. MEDORA

  	
   

  
	
   

  	
   

  	
  Name: Marianne I. Medora

  
	
   

  	
   

  	
  Title: Senior Vice President

  
	
   

  	
   

  
	
   

  	
  By:  

  	
  /s/ CHARLES W. POLET

  	
   

  
	
   

  	
   

  	
  Name: Charles W. Polet

  
	
   

  	
   

  	
  Title: Assistant Treasurer

  
	
   

  	
   

  
	
   

  	
  BANK HAPOALIM B.M.

  
	
   

  	
   

  
	
   

  	
  By:  

  	
  /s/ HELEN H. GATESON

  	
   

  
	
   

  	
   

  	
  Name: Helen H. Gateson

  
	
   

  	
   

  	
  Title: Vice President

  
	
   

  	
   

  
	
   

  	
  UPS CAPITAL CORPORATION

  
	
   

  	
   

  
	
   

  	
  By: 

  	
  /s/ JOHN HOLLOWAY

  	
   

  
	
   

  	
   

  	
  Name: John Holloway

  
	
   

  	
   

  	
  Title: Portfolio Manager

  
						

 

144

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00071-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00071-of-00352.parquet"}]]