Document:

Exhibit 10.2

 

EXECUTION VERSION

 

 

$1,500,000,000

 

SENIOR BRIDGE TERM
LOAN CREDIT AGREEMENT

 

Dated as of August 13,
2010

 

AMONG

 

AON CORPORATION,

 

as Borrower,

 

THE LENDERS,

 

CREDIT SUISSE AG

 

as Administrative
Agent,

 

MORGAN STANLEY
SENIOR FUNDING, INC.

 

as Syndication Agent

 

and

 

BANK OF AMERICA,
N.A.,

 

DEUTSCHE BANK
SECURITIES INC.

 

and

 

RBS SECURITIES INC.

 

as Co-Documentation
Agents

 

 

CREDIT SUISSE
SECURITIES (USA) LLC

 

and

 

MORGAN STANLEY
SENIOR FUNDING, INC.

 

as Joint Lead
Arrangers and Joint Bookrunners

 

and

 

BANK OF AMERICA,
N.A.,

 

DEUTSCHE BANK
SECURITIES INC.

 

and

 

RBS SECURITIES INC.

 

as Co-Arrangers

 

 

TABLE OF
CONTENTS

 

 

	
   

  	
   

  	
  PAGE

  
	
   

  	
   

  	
   

  
	
  ARTICLE 1

  
	
  DEFINITIONS

  
	
   

  	
   

  	
   

  
	
  Section 1.01. Definitions

  	
   

  	
  1

  
	
   

  	
   

  	
   

  
	
  ARTICLE 2

  
	
  THE
  CREDITS

  
	
   

  	
   

  	
   

  
	
  Section 2.01. Commitment

  	
   

  	
  21

  
	
  Section 2.02.
  Required Payments

  	
   

  	
  21

  
	
  Section 2.03.
  Ratable Loans

  	
   

  	
  21

  
	
  Section 2.04.
  Types of Advances

  	
   

  	
  22

  
	
  Section 2.05.
  Undrawn Commitment Fee / Duration Fees /
  Termination or Reductions of Commitments

  	
   

  	
  22

  
	
  Section 2.06.
  Minimum Amount of Each Advance

  	
   

  	
  23

  
	
  Section 2.07.
  Optional Principal Payments

  	
   

  	
  23

  
	
  Section 2.08. Mandatory Prepayments

  	
   

  	
  23

  
	
  Section 2.09.
  Method of Selecting Types and Interest Periods
  for New Advances

  	
   

  	
  23

  
	
  Section 2.10. Conversion and Continuation of Outstanding Advances

  	
   

  	
  24

  
	
  Section 2.11. Interest Rate, Etc.

  	
   

  	
  25

  
	
  Section 2.12. Rates Applicable After Default

  	
   

  	
  25

  
	
  Section 2.13. Method of Payment

  	
   

  	
  25

  
	
  Section 2.14. Noteless Agreement; Evidence of Indebtedness

  	
   

  	
  26

  
	
  Section 2.15. Telephonic Notices

  	
   

  	
  26

  
	
  Section 2.16. Interest Payment Dates; Interest and Fee Basis

  	
   

  	
  27

  
	
  Section 2.17. Notification of Advances, Interest Rates, Prepayments and
  Commitment Reductions

  	
   

  	
  27

  
	
  Section 2.18.
  Lending Installations

  	
   

  	
  27

  
	
  Section 2.19. Non-Receipt of Funds by the Administrative Agent

  	
   

  	
  27

  
	
  Section 2.20. Replacement of Lender

  	
   

  	
  28

  
	
   

  	
   

  	
   

  
	
  ARTICLE 3

  
	
  YIELD
  PROTECTION; TAXES

  
	
   

  	
   

  	
   

  
	
  Section 3.01. Yield Protection

  	
   

  	
  29

  
	
  Section 3.02. Changes in Capital Adequacy Regulations

  	
   

  	
  29

  
	
  Section 3.03. Availability of Types of Advances

  	
   

  	
  30

  
	
  Section 3.04. Funding Indemnification

  	
   

  	
  30

  
	
  Section 3.05. Taxes

  	
   

  	
  30

  

 

i

 

	
  Section 3.06. Lender Statements; Survival of Indemnity

  	
   

  	
  33

  
	
   

  	
   

  	
   

  
	
  ARTICLE 4

  
	
  CONDITIONS
  PRECEDENT

  
	
   

  	
   

  	
   

  
	
  Section 4.01. Effectiveness

  	
   

  	
  33

  
	
  Section 4.02. Conditions Precedent to the Advances on the Closing Date

  	
   

  	
  34

  
	
   

  	
   

  	
   

  
	
  ARTICLE 5

  
	
  REPRESENTATIONS
  AND WARRANTIES

  
	
   

  	
   

  	
   

  
	
  Section 5.01. Corporate Existence and Standing

  	
   

  	
  38

  
	
  Section 5.02. Authorization and Validity

  	
   

  	
  38

  
	
  Section 5.03. Compliance with Laws and Contracts

  	
   

  	
  38

  
	
  Section 5.04. Governmental Consents

  	
   

  	
  38

  
	
  Section 5.05. Financial Statements

  	
   

  	
  39

  
	
  Section 5.06. Material Adverse Change

  	
   

  	
  39

  
	
  Section 5.07. Taxes

  	
   

  	
  39

  
	
  Section 5.08. Litigation and Contingent Obligations

  	
   

  	
  39

  
	
  Section 5.09. ERISA

  	
   

  	
  39

  
	
  Section 5.10. Defaults

  	
   

  	
  40

  
	
  Section 5.11. Regulation U

  	
   

  	
  40

  
	
  Section 5.12. Investment Company

  	
   

  	
  40

  
	
  Section 5.13. Ownership of Properties

  	
   

  	
  40

  
	
  Section 5.14. Material Agreements

  	
   

  	
  40

  
	
  Section 5.15. Environmental Laws

  	
   

  	
  41

  
	
  Section 5.16. Insurance

  	
   

  	
  41

  
	
  Section 5.17. Insurance Licenses

  	
   

  	
  41

  
	
  Section 5.18. Disclosure

  	
   

  	
  41

  
	
  Section 5.19.
  Solvency

  	
   

  	
  42

  
	
  Section 5.20. Senior Debt

  	
   

  	
  42

  
	
  Section 5.21. Foreign
  Corrupt Practices Act

  	
   

  	
  42

  
	
   

  	
   

  	
   

  
	
  ARTICLE 6

  
	
  COVENANTS

  
	
   

  	
   

  	
   

  
	
  Section 6.01. Financial Reporting

  	
   

  	
  43

  
	
  Section 6.02. Use of Proceeds

  	
   

  	
  44

  
	
  Section 6.03. Notice of Default

  	
   

  	
  45

  
	
  Section 6.04. Conduct of Business

  	
   

  	
  45

  
	
  Section 6.05. Taxes

  	
   

  	
  45

  
	
  Section 6.06. Insurance

  	
   

  	
  45

  
	
  Section 6.07. Compliance with Laws

  	
   

  	
  46

  
	
  Section 6.08. Maintenance of Properties

  	
   

  	
  46

  
	
  Section 6.09. Inspection

  	
   

  	
  46

  

 

ii

 

	
  Section 6.10. Capital Stock and Dividends

  	
   

  	
  46

  
	
  Section 6.11. Merger

  	
   

  	
  46

  
	
  Section 6.12. Liens

  	
   

  	
  47

  
	
  Section 6.13. Affiliates

  	
   

  	
  48

  
	
  Section 6.14. Change in Fiscal Year

  	
   

  	
  48

  
	
  Section 6.15. Restrictive Agreements

  	
   

  	
  48

  
	
  Section 6.16. Dispositions

  	
   

  	
  49

  
	
  Section 6.17. Financial Covenants

  	
   

  	
  49

  
	
  Section 6.18. ERISA

  	
   

  	
  49

  
	
  Section 6.19. Indebtedness

  	
   

  	
  49

  
	
  Section 6.20. Acquisitions

  	
   

  	
  50

  
	
   

  	
   

  	
   

  
	
  ARTICLE 7

  
	
  DEFAULTS

  
	
   

  	
   

  	
   

  
	
  Section 7.01. Defaults

  	
   

  	
  51

  
	
   

  	
   

  	
   

  
	
  ARTICLE 8

  
	
  ACCELERATION,
  WAIVERS, AMENDMENTS AND REMEDIES

  
	
   

  	
   

  	
   

  
	
  Section 8.01. Acceleration

  	
   

  	
  52

  
	
  Section 8.02. Amendments

  	
   

  	
  53

  
	
  Section 8.03. Preservation of Rights

  	
   

  	
  54

  
	
   

  	
   

  	
   

  
	
  ARTICLE 9

  
	
  GENERAL
  PROVISIONS

  
	
   

  	
   

  	
   

  
	
  Section 9.01. Survival of Representations

  	
   

  	
  54

  
	
  Section 9.02. Governmental Regulation

  	
   

  	
  54

  
	
  Section 9.03. Headings

  	
   

  	
  54

  
	
  Section 9.04. Entire Agreement

  	
   

  	
  54

  
	
  Section 9.05. Several Obligations; Benefits of this Agreement

  	
   

  	
  55

  
	
  Section 9.06.
  Expenses; Indemnification

  	
   

  	
  55

  
	
  Section 9.07. Numbers of Documents

  	
   

  	
  57

  
	
  Section 9.08. Accounting

  	
   

  	
  57

  
	
  Section 9.09. Severability of Provisions

  	
   

  	
  57

  
	
  Section 9.10. Nonliability of Lenders

  	
   

  	
  57

  
	
  Section 9.11. Confidentiality

  	
   

  	
  57

  
	
  Section 9.12. Disclosure

  	
   

  	
  58

  
	
  Section 9.13. USA PATRIOT ACT NOTIFICATION

  	
   

  	
  58

  
	
   

  	
   

  	
   

  
	
  ARTICLE 10

  
	
  THE
  ADMINISTRATIVE AGENT

  
	
   

  	
   

  	
   

  
	
  Section 10.01.
  Authorization and Authority

  	
   

  	
  58

  

 

iii

 

	
  Section 10.02.
  Administrative Agent Individually

  	
   

  	
  59

  
	
  Section 10.03.
  Duties of Administrative Agent; Exculpatory
  Provisions

  	
   

  	
  60

  
	
  Section 10.04.
  Reliance by Administrative Agent

  	
   

  	
  61

  
	
  Section 10.05.
  Delegation of Duties

  	
   

  	
  61

  
	
  Section 10.06.
  Resignation of Administrative Agent

  	
   

  	
  61

  
	
  Section 10.07.
  Non-Reliance on Administrative Agent and Other
  Lenders

  	
   

  	
  62

  
	
  Section 10.08.
  No Other Duties, Etc.

  	
   

  	
  63

  
	
   

  	
   

  	
   

  
	
  ARTICLE 11

  
	
  SETOFF;
  RATABLE PAYMENTS

  
	
   

  	
   

  	
   

  
	
  Section 11.01. Setoff

  	
   

  	
  64

  
	
  Section 11.02. Ratable Payments

  	
   

  	
  64

  
	
   

  	
   

  	
   

  
	
  ARTICLE 12

  
	
  BENEFIT
  OF AGREEMENT; ASSIGNMENTS; PARTICIPATIONS

  
	
   

  	
   

  	
   

  
	
  Section 12.01. Successors and Assigns

  	
   

  	
  64

  
	
  Section 12.02. Participations

  	
   

  	
  65

  
	
  Section 12.03. Assignments

  	
   

  	
  66

  
	
  Section 12.04. Dissemination of Information

  	
   

  	
  67

  
	
  Section 12.05. Tax Treatment

  	
   

  	
  67

  
	
   

  	
   

  	
   

  
	
  ARTICLE 13

  
	
  NOTICES

  
	
   

  	
   

  	
   

  
	
  Section 13.01. Giving Notice

  	
   

  	
  68

  
	
  Section 13.02. Change of Address

  	
   

  	
  69

  
	
   

  	
   

  	
   

  
	
  ARTICLE 14

  
	
  COUNTERPARTS

  
	
   

  	
   

  	
   

  
	
  ARTICLE 15

  
	
  CHOICE
  OF LAW; CONSENT TO JURISDICTION; WAIVER OF JURY TRIAL

  
	
   

  	
   

  	
   

  
	
  Section 15.01. CHOICE OF LAW

  	
   

  	
  69

  
	
  Section 15.02. CONSENT TO JURISDICTION

  	
   

  	
  69

  
	
  Section 15.03. WAIVER OF JURY TRIAL

  	
   

  	
  70

  

 

iv

 

Schedules

 

	
  Pricing Schedule

  	
   

  	
   

  
	
  Schedule 1.01

  	
   

  	
  Commitments

  
	
  Schedule 4.02(g)

  	
   

  	
  Continuing Debt
  Instruments

  
	
  Schedule 5.21

  	
   

  	
  Foreign Corrupt Practices
  Act Matters

  
	
   

  	
   

  	
   

  
	
  Exhibits

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Exhibit A

  	
  Form Note

  
	
  Exhibit B

  	
  Form Compliance
  Certificate

  
	
  Exhibit C

  	
  Form Assignment
  Agreement

  
				

 

v

 

SENIOR BRIDGE TERM
LOAN CREDIT AGREEMENT

 

This Senior Bridge Term
Loan Credit Agreement, dated as of August 13, 2010, is among Aon
Corporation, a Delaware corporation, the Lenders (as defined below), and Credit
Suisse AG, as Administrative Agent.

 

R E C I T A L S:

 

A.            In connection with the Transactions (as defined below),
the Borrower has requested the Lenders to make financial accommodations to it
in the aggregate principal amount of $1,500,000,000; and

 

B.            The Lenders are willing to extend such financial
accommodations on the terms and conditions set forth below.

 

NOW, THEREFORE, in
consideration of the premises and of the mutual agreements made herein, and for
other good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the parties hereto agree as follows:

 

ARTICLE 1

DEFINITIONS

 

Section 1.01.  Definitions.  As used in this Agreement:

 

“Activities”
is defined in Section 10.02(b).

 

“Administrative
Agent” means Credit Suisse AG in its capacity as contractual
representative of the Lenders pursuant to Article 10, and not in its
individual capacity as a Lender, and any successor Administrative Agent
appointed pursuant to Article 10.

 

“Administrative
Questionnaire” shall mean an administrative questionnaire in a
form provided by the Administrative Agent which shall include, without
limitation, a designation by the assignee of one or more credit contacts to
whom all syndicate-level information (which may contain material non-public
information about the Borrower, the Company or their respective Subsidiaries,
related parties or securities) will be made available, who will comply with Section 9.11
of this Agreement and who may receive such information in accordance with the
assignee’s compliance procedures and applicable laws, including federal and
state securities laws.

 

“Advance”
means a borrowing of Loans, (a) advanced by the Lenders on the same
Borrowing Date, or (b) converted or continued by the Lenders on the same
date of conversion or continuation, consisting, in either case, of the
aggregate amount of the several Loans of the same Type and, in the case of
Eurodollar Loans, for the same Interest Period.

 

“Affected
Lender” is defined in Section 2.20.

 

1

 

“Affiliate”
of any Person means any other Person directly or indirectly controlling,
controlled by or under common control with such Person.  A Person shall be deemed to control another
Person if the controlling Person owns 10% or more of any class of voting
securities (or other ownership interests) of the controlled Person or
possesses, directly or indirectly, the power to direct or cause the direction
of the management or policies of the controlled Person, whether through
ownership of stock, by contract or otherwise.

 

“Agent”
means the Administrative Agent, any Arranger, the Syndication Agent, the
Co-Documentation Agents and each Co-Arranger and “Agents”
means all of them.

 

“Agent’s
Group” is defined in Section 10.02(b).

 

“Aggregate
Commitment” means the aggregate of the Commitments of all the
Lenders, as reduced from time to time pursuant to the terms hereof.  The initial Aggregate Commitment is
$1,500,000,000.

 

“Aggregate
Outstanding Credit Exposure” means, at any time, the aggregate
of the Outstanding Credit Exposure of all the Lenders.

 

“Agreement”
means this Senior Bridge Term Loan Credit Agreement, as it may be amended or
modified and in effect from time to time.

 

“Agreement
Accounting Principles” means generally accepted accounting
principles as in effect from time to time, applied in a manner consistent with
those used in preparing the financial statements referred to in Section 4.02(h).

 

“Alternate
Base Rate” means, for any day, a rate per annum equal to the
greatest of (a) the Prime Rate in effect on such day, (b) the Federal
Funds Effective Rate in effect on such day plus 1/2 of 1% and (c) the
Eurodollar Base Rate for a one month Interest Period on such day (or if such
day is not a Business Day, the immediately preceding Business Day) plus 1.00%; provided that,
for the avoidance of doubt, the Eurodollar Base Rate for any day shall be based
on the rate determined on such day at approximately 11 a.m. (London time)
by reference to the British Bankers’ Association Interest Settlement Rates for
deposits in dollars (as set forth by any service selected by the Administrative
Agent that has been nominated by the British Bankers’ Association as an
authorized vendor for the purpose of displaying such rates).  Any change in the Alternate Base Rate due to
a change in the Prime Rate, the Federal Funds Effective Rate or the Eurodollar
Base Rate shall be effective on the effective date of such change in the Prime
Rate, the Federal Funds Effective Rate or the Eurodollar Base Rate, as the case
may be.

 

“Alternate
Base Rate Advance” means an Advance which bears interest
determined by reference to the Alternate Base Rate.

 

“Alternate
Base Rate Loan” means a Loan which bears interest determined by
reference to the Alternate Base Rate.

 

2

 

“Applicable
Margin” means (a) with respect to Alternate Base Rate
Advances, the greater of (i) 0% per annum and (ii) the percentage
rate per annum which is applicable at such time as set forth in the Pricing
Schedule minus 1.00% and (b) with respect to Eurodollar Advances, the
percentage rate per annum which is applicable at such time as set forth in the
Pricing Schedule.

 

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

 

“Arrangers”
means Credit Suisse Securities (USA) LLC and Morgan Stanley Senior Funding, Inc.
and their respective successors, in their capacity as “Joint Lead Arrangers”.

 

“Article”
means an article of this Agreement unless another document is specifically
referenced.

 

“Authorized
Officer” means any of the president, chief financial officer,
treasurer or vice-president and controller of the Borrower, acting singly.

 

“Borrower”
means Aon Corporation, a Delaware corporation, and its successors and permitted
assigns.

 

“Borrower
Debt Rating” means the senior unsecured long-term debt (without
third party credit enhancement) rating of the Borrower as determined by a
rating agency identified on the Pricing Schedule.

 

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

 

“Borrower
Material Adverse Change” is defined in Section 4.02(n).

 

“Borrower
Material Adverse Effect” means any event, change, effect,
development, state of facts, condition, circumstance or occurrence that is or
would reasonably be expected to be materially adverse to the business, assets,
liabilities, condition (financial or otherwise) or results of operations of the
Borrower and its Subsidiaries, taken as a whole, but shall not be deemed to
include any event, change, effect, development, state of facts, condition,
circumstance or occurrence: (i) in or affecting economic conditions
(including changes in interest rates) or the financial or securities markets in
the United States or elsewhere in the world, to the extent the Borrower and its
Subsidiaries are not adversely affected in a disproportionate manner relative
to other participants in the industries in which the Borrower and its
Subsidiaries operate, (ii) in or affecting the industries in which the
Borrower and its Subsidiaries operate generally (but, for the avoidance of
doubt, not including the industries in which the Borrower’s or any of its
Subsidiaries’ clients or customers operate), to the extent the Borrower and its
Subsidiaries are not adversely affected in a disproportionate manner relative
to other participants in the industries in which the Borrower and its
Subsidiaries operate or (iii) resulting from or arising out of (A) the
announcement or the existence of, or compliance with, or taking any action
required by the

 

3

 

Merger Agreement or the
Transactions (as defined in the Merger Agreement), (B) any taking of any
action at the written request of the Company (and, with respect to any material
action, with the prior written consent of the Arrangers, not to be unreasonably
withheld), (C) any litigation arising from allegations of a breach of
fiduciary duty or other violation of applicable Law relating to the Merger
Agreement or the Transactions (as defined in the Merger Agreement), (D) any
adoption, implementation, promulgation, repeal, modification, reinterpretation
or proposal, in each case after the date of the Merger Agreement, of any rule,
regulation, ordinance, order, protocol or any other Law of or by any national,
regional, state or local Governmental Entity, to the extent the Borrower and
its Subsidiaries are not adversely affected in a disproportionate manner
relative to other participants in the industries in which the Borrower and its
Subsidiaries operate, (E) any changes in GAAP or accounting standards or
interpretations thereof, to the extent the Borrower and its Subsidiaries are
not adversely affected in a disproportionate manner relative to other
participants in the industries in which the Borrower and its Subsidiaries
operate, (F) any outbreak or escalation of hostilities or acts of war or
terrorism, to the extent the Borrower and its Subsidiaries are not adversely
affected in a disproportionate manner relative to other participants in the
industries in which the Borrower and its Subsidiaries operate or (G) any
change in the share price or trading volume of the Parent Common Stock, in the
Borrower’s credit rating or in any analyst’s recommendations, in each case in
and of itself, or the Borrower’s failure to meet projections or forecasts
(including any analyst’s projections), in and of itself (provided,
in each case, that the event, change, effect, development, condition,
circumstance or occurrence underlying such change or failure shall not be
excluded, and may be taken into account, in determining whether there is or
would reasonably be expected to be a Borrower Material Adverse Effect).  The capitalized terms used in this definition
and not otherwise defined in this Agreement shall have the meanings set forth
in the Merger Agreement as in effect on the date hereof.

 

“Borrowing
Notice” is defined in Section 2.09.

 

“Business
Day” means (a) with respect to any borrowing, payment or
rate selection of Eurodollar Advances, a day (other than a Saturday or Sunday)
on which banks generally are open in New York for the conduct of substantially
all of their commercial lending activities, interbank wire transfers can be
made on the Fedwire system and dealings in United States dollars are carried on
in the London interbank market and (b) for all other purposes, a day
(other than a Saturday or Sunday) on which banks generally are open in New York
for the conduct of substantially all of their commercial lending activities and
interbank wire transfers can be made on the Fedwire system.

 

“Cananwill
Securitization” means each of (i) the Second Amended and
Restated Purchase Agreement, dated as of March 30, 2001, by and among
Cananwill Premium Credit Trust, Cananwill Corporation, the Borrower, the
Purchasers and Managing Agents listed on the signature pages thereto and
JP Morgan Chase Bank, N.A. (successor by merger to Bank One, NA), as
Administrative Agent, (ii) the Receivables Purchase Agreement, dated as of
December 11, 2002, by and among Cananwill Canada Limited, the Borrower and
CIBC Mellon Trust Company, in its capacity as Trustee of Plaza Trust, (iii) the
Amended and Restated Receivables

 

4

 

Purchase Agreement, dated
as of December 19, 2002, by and among Cananwill Receivables Purchase
Facility, L.L.C., Cananwill Europe Limited, the Borrower, the Purchasers and
Managing Agents listed on the signature pages thereto and JP Morgan Chase
Bank, N.A. (successor by merger to Bank One, NA), as administrative agent and (iv) the
Receivables Facilities Agreement, dated as of December 20, 2001, by and
among Abel Tasman Holdings Pty Limited, Cananwill Australia Pty Limited,
Cananwill, Inc. and ABN AMRO Asset Management (Australia) Limited, in each
case as the same may be modified, amended or supplemented from time to time,
provided that such modification, amendment or supplement does not change the
fundamental nature thereof.

 

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

 

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

 

“Change”
is defined in Section 3.02.

 

“Change
in Control” means (a) the acquisition by any Person, or two
or more Persons acting in concert, including without limitation any acquisition
effected by means of any transaction contemplated by Section 6.11, of
beneficial ownership (within the meaning of Rule 13d-3 of the Securities
and Exchange Commission under the Securities Exchange Act of 1934) of 30% or
more of the outstanding shares of voting stock of the Borrower, or (b) during
any period of 25 consecutive calendar months, commencing on the date of this
Agreement, the ceasing of those individuals (the “Continuing
Directors”) who (i) were directors of the Borrower on the
first day of each such period or (ii) subsequently became directors of the
Borrower and whose initial election or initial nomination for election
subsequent to that date was approved by a majority of the Continuing Directors
then on the board of directors of the Borrower, to constitute a majority of the
board of directors of the Borrower.

 

“Closing
Date” shall mean the date on which the Merger is consummated and
the conditions precedent set forth in Section 4.02 have been satisfied or
waived.

 

“Closing
Date Specified Representations” means the representations and
warranties set forth in Sections 5.01(a), 5.02, 5.03 (other than the first
sentence thereof), 5.05, 5.11, 5.12, 5.18(a), 5.19 and 5.20.

 

“Co-Arranger
Commitment Letter” means that Co-Arranger Commitment Letter
dated as of July 21, 2010 from Credit Suisse AG, Credit Suisse Securities
(USA) LLC, Morgan Stanley Senior Funding, Inc., Bank of America, N.A.,
Deutsche Bank Securities Inc., Deutsche Bank AG Cayman Islands Branch, Deutsche
Bank AG New York Branch, and the Royal Bank of Scotland plc to the Borrower.

 

5

 

“Co-Arrangers”
means Bank of America, N.A., Deutsche Bank Securities Inc. and RBS Securities
Inc. (or, in each case, their respective successors), in their collective
capacity as “Co-Arrangers”.

 

“Co-Documentation
Agents” means Bank of America, N.A., Deutsche Bank Securities
Inc. and RBS Securities Inc. (or, in each case, their respective Affiliates and
successors), in their collective capacity as “Co-Documentation Agents”.

 

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

 

“Commitment”
means, for each Lender, the obligation of such Lender to make Loans to the
Borrower in an aggregate outstanding amount not exceeding the amount set forth
opposite its name on Schedule 1.01 hereto, 
as it may be modified as a result of any assignment that has become
effective pursuant to Section 12.03(b) or as otherwise modified from
time to time pursuant to the terms hereof.

 

“Commitment
Fee” is defined in Section 2.05(a).

 

“Commitment
Letter” means that Commitment Letter dated as of July 11,
2010 from Credit Suisse AG, Credit Suisse Securities (USA) LLC and Morgan Stanley
Senior Funding, Inc. to the Borrower.

 

“Communications”
is defined in Section 13.01.

 

“Company”
means Hewitt Associates, Inc., a Delaware corporation.

 

“Company
Material Adverse Change” is defined in Section 4.02(o).

 

“Company
Material Adverse Effect” means any event, change, effect,
development, state of facts, condition, circumstance or occurrence that is or
would be reasonably expected to be materially adverse to the business, assets,
liabilities, condition (financial or otherwise) or results of operations of the
Company and its Subsidiaries, taken as a whole, but shall not be deemed to
include any event, change, effect, development, state of facts, condition,
circumstance or occurrence: (i) in or affecting economic conditions
(including changes in interest rates) or the financial or securities markets in
the United States or elsewhere in the world, to the extent the Company and its
Subsidiaries are not adversely affected in a disproportionate manner relative
to other participants in the industries in which the Company or its
Subsidiaries operate, (ii) in or affecting the industries in which the
Company or its Subsidiaries operate generally (but, for the avoidance of doubt,
not including the industries in which the Company’s or any of its Subsidiaries’
clients or customers operate), to the extent the Company and its Subsidiaries
are not adversely affected in a disproportionate manner relative to other
participants in the industries in which the Company or its Subsidiaries operate
or (iii) resulting from or arising out of (A) the announcement or the
existence of, or compliance with, or taking any action required by the Merger
Agreement or the Transactions (as defined in the Merger Agreement), (B) any
taking of

 

6

 

any action at the written
request of the Borrower, Merger Sub or Merger LLC (and, with respect to any
material action, with the prior written consent of the Arrangers, not to be
unreasonably withheld), (C) any litigation arising from allegations of a breach
of fiduciary duty or other violation of applicable law relating to the Merger
Agreement or the Transactions (as defined in the Merger Agreement), (D) any
adoption, implementation, promulgation, repeal, modification, reinterpretation
or proposal, in each case after the date of the Merger Agreement, of any rule,
regulation, ordinance, order, protocol or any other Law of or by any national,
regional, state or local Governmental Entity, to the extent the Company and its
Subsidiaries are not adversely affected in a disproportionate manner relative
to other participants in the industries in which the Company or its
Subsidiaries operate, (E) any changes in GAAP or accounting standards or
interpretations thereof, to the extent the Company or its Subsidiaries are not
adversely affected in a disproportionate manner relative to other participants
in the industries in which the Company and its Subsidiaries operate, (F) any
outbreak or escalation of hostilities or acts of war or terrorism, to the
extent the Company and its Subsidiaries are not adversely affected in a
disproportionate manner relative to other participants in the industries in
which the Company or its Subsidiaries operate, or (G) any change in the
share price or trading volume of the shares of Company Common Stock, in the
Company’s credit rating or in any analyst’s recommendations, in each case in
and of itself, or the failure of the Company to meet projections or forecasts
(including any analyst’s projections), in and of itself (provided,
in each case, that the event, change, effect, development, condition,
circumstance or occurrence underlying such change or failure shall not be
excluded, and may be taken into account, in determining whether there is or
would reasonably be expected to be a Company Material Adverse Effect).  The capitalized terms used in this definition
and not otherwise defined in this Agreement shall have the meanings set forth
in the Merger Agreement as in effect on the date hereof.

 

“Condemnation”
is defined in Section 7.01(h).

 

“Confidential
Information Memorandum” means the Confidential Information
Memorandum of the Borrower dated June 2010.

 

“Consolidated”
or “consolidated”, when used in
connection with any calculation, means a calculation to be determined on a
consolidated basis for the Borrower and its Subsidiaries (or, when used with
respect to any other Person, such Person and its Subsidiaries) in accordance
with generally accepted accounting principles.

 

“Consolidated
Adjusted EBITDA” means, for any Measurement Period, Consolidated
Net Income for such period plus, (a) to the extent deducted from revenues
in determining Consolidated Net Income, (i) Consolidated Interest Expense,
(ii) expense for taxes paid or accrued, (iii) depreciation, (iv) amortization,
(v) extraordinary losses incurred other than in the ordinary course of
business, (vi) the Transaction Costs and (vii) non recurring cash
charges incurred for such period in connection with the Merger in an amount not
to exceed $50,000,000 in the aggregate during the term of this Agreement minus (b) to the extent included in Consolidated Net
Income, extraordinary gains realized other than in the ordinary course of
business, all calculated for the Borrower and its Subsidiaries on a
consolidated basis; provided

 

7

 

that, notwithstanding the
foregoing provisions of this definition, no amounts shall be added pursuant to
clauses (i) through (v) for any losses, costs, expenses or other
charges resulting from the settlement of any Disclosed Claims or any payments
in respect of any judgments or other orders thereon or any restructuring or
other charges in connection therewith or relating thereto.

 

“Consolidated
Funded Debt” means, without duplication, (i) all
Indebtedness of the Borrower and its Subsidiaries of the types described in
clauses (a), (b), (c), (d) and (e) of the definition of Indebtedness
(excluding, for purposes of clauses (b) and (c), any leases that
constitute operating leases in accordance with Agreement Accounting Principles),
and (ii) all Indebtedness of the Borrower and its Subsidiaries of the type
described in clause (j) of the definition of Indebtedness with respect to
Indebtedness of the types described in clause (i) above, calculated on a
Consolidated basis.

 

“Consolidated
Interest Expense” means, for any Measurement Period, the
interest expense of the Borrower and its Subsidiaries calculated on a
consolidated basis for such period.

 

“Consolidated
Leverage Ratio” means, as of the last day of any Measurement
Period, the ratio of Consolidated Funded Debt at such date to Consolidated
Adjusted EBITDA for such Measurement Period; provided
that in the event that the Senior Notes are issued prior to the Closing Date
and the proceeds thereof are held in escrow pursuant to arrangements reasonably
satisfactory to the Administrative Agent, the outstanding principal amount of
the Senior Notes for the purpose of determining the Consolidated Leverage Ratio
at any time prior to the Closing Date shall be deemed to be the excess (if any)
of the outstanding principal amount of the Senior Notes over the escrowed
proceeds thereof.

 

“Consolidated
Net Income” means, with reference to any period, the net income
(or loss) of the Borrower and its Subsidiaries calculated on a consolidated
basis for such period.

 

“Consolidated
Net Worth” means, at any date of determination, the consolidated
common stockholders’ equity of the Borrower and its consolidated Subsidiaries
determined in accordance with Agreement Accounting Principles.

 

“Contingent
Obligation” of a Person means any agreement, undertaking or
arrangement by which such Person assumes, guarantees, endorses, contingently
agrees to purchase or provide funds for the payment of, or otherwise becomes or
is contingently liable upon, the obligation or liability of any other Person,
or agrees to maintain the net worth or working capital or other financial
condition of any other Person, or otherwise assures any creditor of such other
Person against loss, including, without limitation, any comfort letter, operating
agreement or take or pay contract or application for a Letter of Credit.

 

“Continuing
Debt Instruments” means the agreements and instruments set forth
on Schedule 4.02(g) as the same may be supplemented, modified, amended,
refinanced or replaced from time to time; provided that
in each case the aggregate outstanding principal amount thereof (or credit
committed thereunder) is not increased without the consent of the Required
Lenders except as contemplated by Section 6.19(b).

 

8

 

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

 

“Conversion/Continuation
Notice” is defined in Section 2.10.

 

“Credit
Extension” means the making of an Advance hereunder.

 

“Credit
Extension Date” means the Borrowing Date for an Advance.

 

“Default”
means an event described in Article 7.

 

“Defaulting
Lender” has the meaning specified in Section 2.20.

 

“Disclosed
Claims” means any litigation, proceeding or investigation
disclosed in (a) the Borrower’s annual report on Form 10-K for the year ended
December 31, 2008 and (b) the Borrower’s quarterly report on Form 10-Q for the
fiscal quarter ended September 30, 2009 as filed with the Securities and
Exchange Commission.

 

“Disposition”
or “Dispose” means the sale, transfer or
other disposition (including any sale and leaseback transaction), in each case
for consideration in any single transaction or series of related transactions
in excess of $25,000,000 (as determined reasonably in good faith by the
Borrower), by any Person of any Property (including any equity interests owned
by such Person, or any notes or accounts receivable or any rights and claims
associated therewith) of such Person (or the granting of any option or other
right to do any of the foregoing).

 

“Duration
Fee” is defined in Section 2.05(c).

 

“Effective
Date” means the date this Agreement becomes effective in
accordance with Section 4.01.

 

“Effective
Date Specified Representations” means the representations and
warranties set forth in Sections 5.01(a), 5.02, 5.03 (other than the first
sentence thereof and clause (i)(B) of the second sentence thereof), 5.12 and
5.18.

 

“Environmental
Laws” is defined in Section 5.15.

 

“Environmental
Liability” has the meaning specified in Section 9.06(b).

 

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

 

9

 

“Equity
Issuance” means any issuance by the Borrower of any Equity
Interest other than pursuant to any director or employee stock ownership plan
or any other employee compensation plan.

 

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

 

“Euro
Facility” means the €650,000,000 Facility Agreement dated as of
February 7, 2005 by and among the Borrower, the Subsidiaries of the Borrower
party thereto, Citibank International plc, as agent, and the financial
institutions parties thereto as lenders, as the same may be supplemented,
modified and amended from time to time, provided that,
in each case, the principal amount of the credit committed thereunder is not
increased without the consent of the Required Lenders except as contemplated by
Section 6.19(b).  References to any
specific section of the Euro Facility shall be deemed to refer to the
corresponding provision in the Euro Facility as modified, amended, renewed or
refinanced from time to time.

 

“Eurodollar
Advance” means an Advance which, except as otherwise provided in
Section 2.12, bears interest at the applicable Eurodollar Rate.

 

“Eurodollar
Base Rate” means, with respect to a Eurodollar Advance for the
Interest Period applicable to such Eurodollar Advance, the applicable British
Bankers’ Association Interest Settlement Rate for deposits in U.S. dollars
appearing on Reuters LIBOR01 Page as of 11:00 a.m. (London time) two (2)
Business Days prior to the first day of such Interest Period, and having a
maturity equal to such Interest Period, provided that, (i) if Reuters LIBOR01
Page is not available to the Administrative Agent for any reason, the
applicable Eurodollar Base Rate for the relevant Interest Period shall instead
be the applicable British Bankers’ Association Interest Settlement Rate for
deposits in U.S. dollars as reported by any other generally recognized
financial information service as of 11:00 a.m. (London time) two (2) Business
Days prior to the first day of such Interest Period, and having a maturity
equal to such Interest Period, and (ii) if no such British Bankers’ Association
Interest Settlement Rate is available to the Administrative Agent, the
applicable Eurodollar Base Rate for the relevant Interest Period shall instead
be the rate determined by the Administrative Agent to be the rate at which the
Administrative Agent offers to place deposits in U.S. dollars with first class
banks in the London interbank market at approximately 11:00 a.m. (London time)
two (2) Business Days prior to the first day of such Interest Period, in the
approximate amount of the Administrative Agent’s relevant Eurodollar Loan and
having a maturity equal to such Interest Period.

 

“Eurodollar
Loan” means a Loan which, except as otherwise provided in
Section 2.12, bears interest at the applicable Eurodollar Rate.

 

“Eurodollar
Rate” means, with respect to a Eurodollar Advance for the
relevant Interest Period, the sum of (a) the quotient of (i) the Eurodollar
Base Rate applicable to such Interest Period, divided by (ii) one minus the Reserve Requirement (expressed as a decimal)
applicable to such Interest Period, plus (b) the Applicable Margin for
Eurodollar Advances.

 

10

 

“Excluded
Indebtedness” means Indebtedness of the Borrower or any of its
Subsidiaries having an outstanding principal amount not in excess of
$50,000,000 in the aggregate for all such Indebtedness.

 

“Excluded
Taxes” means, in the case of each Lender and the Administrative
Agent, taxes imposed on its overall net income, and franchise taxes imposed on
it, by (i) the jurisdiction under the laws of which such Lender or the
Administrative Agent is incorporated or organized or (ii) the jurisdiction in
which the Administrative Agent’s or such Lender’s principal executive office or
such Lender’s applicable Lending Installation is located.

 

“Exhibit”
refers to an exhibit to this Agreement, unless another document is specifically
referenced.

 

“Existing
Credit Agreement” means the $400,000,000 Three-Year Credit
Agreement dated as of December 4, 2009 among the Borrower, Citibank, N.A., as
agent, and the lenders party thereto, as amended, restated, supplemented or
otherwise modified from time to time. 
References to any specific section of the Existing Credit Agreement
shall be deemed to refer to the corresponding provision in the Existing Credit
Agreement as modified, amended, renewed or refinanced from time to time.

 

“FATCA”
means Section 1471 through 1474 of the Code, as in effect on the date hereof,
and any applicable Treasury regulations or published administrative guidance
promulgated thereunder.

 

“Federal
Funds Effective Rate” means, for any day, an interest rate per annum
equal to the weighted average of the rates on overnight Federal funds
transactions with members of the Federal Reserve System arranged by Federal
funds brokers on such day, as published for such day (or, if such day is not a
Business Day, for the immediately preceding Business Day) by the Federal
Reserve Bank of New York, or, if such rate is not so published for any day
which is a Business Day, the average of the quotations at approximately 10:00
a.m. (New York time) on such day on such transactions received by the
Administrative Agent from three Federal funds brokers of recognized standing
selected by the Administrative Agent in its sole discretion.

 

“Fee
Letter” means the Fee Letter dated as of July 11, 2010 from
Credit Suisse AG, Credit Suisse Securities (USA) LLC and Morgan Stanley Senior
Funding, Inc. to the Borrower.

 

“Financial
Statements” is defined in Section 4.02(h).

 

“Fiscal
Quarter” means each of the four three-month accounting periods
comprising a Fiscal Year.

 

“Fiscal
Year” means the twelve-month accounting period ending December
31 of each year.

 

“Foreign
Corrupt Practices Act” is defined in Section 5.21.

 

11

 

“Foreign
Subsidiary” means a Subsidiary of the Borrower which is not
organized under the laws of the United States of America or any political
subdivision thereof.

 

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

 

“Funded
Target Attainment Percentage” has the meaning set forth in
Section 430(d)(2) of the Code or Section 303(d)(2) of ERISA.

 

“Governmental
Authority” means any government (foreign or domestic) or any
state or other political subdivision thereof or any governmental body, agency,
authority, department or commission (including without limitation any taxing
authority or political subdivision) or any instrumentality or officer thereof
(including, without limitation, any court or tribunal and any board of
insurance, insurance department or insurance commissioner) exercising
executive, legislative, judicial, regulatory or administrative functions of or
pertaining to government and any corporation, partnership or other entity
directly or indirectly owned or controlled by or subject to the control of any
of the foregoing.

 

“Hazardous
Materials” is defined in Section 5.15.

 

“Hedging
Agreement” means any interest rate protection agreement, foreign
currency exchange agreement, commodity price protection agreement or other
interest or currency exchange rate or commodity price hedging arrangement and
all other similar agreements or arrangements designed to alter the risks of any
Person arising from fluctuations in interest rates, currency values or
commodity prices.

 

“Immaterial
Subsidiaries” means one or more Subsidiaries of the Borrower,
the Consolidated total assets, Consolidated revenues and Consolidated net
operating income of which, in the aggregate, do not exceed three percent (3%)
of the Consolidated total assets, Consolidated revenues and Consolidated net
operating income, respectively, of the Borrower and its Subsidiaries, in each
case determined as of the end, or for, as the case may be, the period of four
Fiscal Quarters most recently ended for which financial statements have been or
are required to have been delivered pursuant to Section 6.01(a) or Section
6.01(b).

 

“Indebtedness”
of a Person means, without duplication, (a) such Person’s obligations for borrowed
money, (b) obligations of such Person representing the deferred purchase price
of Property or services (other than accounts payable arising in the ordinary
course of such Person’s business payable on terms customary in the trade), (c)
such Person’s obligations created or arising under any conditional sale or
other title retention agreement with respect to property acquired by such
Person (even though the rights and remedies of the seller or lender under such
agreement in the event of default are limited to repossession or sale of such
property), (d) such Person’s obligations which are evidenced by bonds, notes,
debentures, acceptances, or similar instruments, (e) Capitalized Lease
Obligations of such Person, (f) Contingent Obligations of such Person, (g)
obligations, contingent or otherwise, for which such Person is obligated
pursuant to

 

12

 

or in respect of Letters of
Credit or bankers’ acceptances, (h) such Person’s obligations under Hedging
Agreements to the extent required to be reflected on a balance sheet of such
Person, (i) repurchase obligations or liabilities of such Person with respect
to accounts or notes receivable sold by such Person, and (j) all Indebtedness
and other obligations referred to in clauses (a) through (i) above secured by
(or for which the holder of such Indebtedness or other obligations has an
existing right, contingent or otherwise, to be secured by) any Lien on property
(including, without limitation, accounts and contract rights) owned by such
Person or payable out of the proceeds or production from property of such
Person, even though such Person has not assumed or become liable for the
payment of such Indebtedness or other obligations.

 

“Information”
is defined in Section 9.11.

 

“Interest
Period” means, with respect to a Eurodollar Advance, a period of
one, two, three or six months commencing on a Business Day selected by the
Borrower pursuant to this Agreement.  An
Interest Period of one, two, three or six months shall end on (but exclude) the
day which corresponds numerically to such date one, two, three or six months
thereafter; provided, however,
that if there is no such numerically corresponding day in such next, second,
third or sixth succeeding month, such Interest Period shall end on the last
Business Day of such next, second, third or sixth succeeding month.  If an Interest Period would otherwise end on
a day which is not a Business Day, such Interest Period shall end on the next
succeeding Business Day; provided, however, that if said next succeeding Business Day falls in
a new calendar month, such Interest Period shall end on the immediately
preceding Business Day.

 

“Knowledge”
means the actual knowledge of any fact, circumstance or condition of those
officers of the Borrower, Merger Sub and Merger LLC set forth in Section 9.03
of the Parent Disclosure Letter (as defined in the Merger Agreement).

 

“Law”
means any Federal, state, local, foreign,
international or multinational treaty, constitution, statute or other law,
ordinance, rule or regulation.

 

“Lender
Appointment Period” is defined in Section 10.06.

 

“Lenders”
means the lending institutions listed on the signature pages of this Agreement
and their respective successors and assigns.

 

“Lending
Installation” means, with respect to a Lender or the
Administrative Agent, the office or branch of such Lender or the Administrative
Agent listed on the signature pages hereof, on a Schedule or otherwise selected
by such Lender or the Administrative Agent pursuant to Section 2.18.

 

“Letter
of Credit” of a Person means a letter of credit or similar
instrument which is issued upon the application of such Person or upon which
such Person is an account party or for which such Person is in any way liable.

 

13

 

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

 

“Loan”
means, with respect to a Lender, such Lender’s loan made pursuant to Article 2
(or any conversion or continuation thereof).

 

“Loan
Documents” means this Agreement and any Notes issued pursuant to
Section 2.14 and the other documents and agreements contemplated hereby and
executed by the Borrower in favor of the Administrative Agent or any Lender.

 

“Margin
Stock” has the meaning assigned to that term under
Regulation U.

 

“Material
Adverse Change” means a Borrower Material Adverse Change or a
Company Material Adverse Change.

 

“Material
Adverse Effect” means a material adverse effect on (a) the
business, Property, condition (financial or otherwise), performance, results of
operations, or prospects of the Borrower and its Subsidiaries taken as a whole,
(b) the ability of the Borrower to perform its obligations under the Loan
Documents, or (c) the validity or enforceability of any of the Loan Documents
or the rights or remedies of the Administrative Agent or the Lenders
thereunder.

 

“Maturity
Date” means the date that is 364 days from the Closing Date (or,
if such day is not a Business Day, the next preceding Business Day).

 

“Measurement
Period” means, at any date of determination, the most recently
completed four consecutive Fiscal Quarters of the Borrower ending on or prior
to such date.

 

“Merger”
means the merger of Merger Sub with and into the Company pursuant to the Merger
Agreement.

 

“Merger
Agreement” means the Agreement and Plan of Merger dated July 11,
2010 among the Borrower, Merger LLC, Merger Sub and the Company.

 

“Merger
Cash Consideration” means an aggregate amount of approximately
$2,450,000,000 in cash to be paid to the equity holders of the Company pursuant
to the Merger Agreement.

 

“Merger
Consideration” means the Merger Cash Consideration and the
Merger Equity Consideration.

 

“Merger
Equity Consideration” means the shares of common stock of the
Borrower to be delivered to the equity holders of the Company pursuant to the
Merger Agreement.

 

14

 

“Merger
LLC” means Alps Merger LLC, a Delaware limited liability company
and a wholly owned subsidiary of the Borrower.

 

“Merger
Sub” means Alps Merger Corp., a Delaware corporation and a
wholly owned subsidiary of the Borrower.

 

“Moody’s”
means Moody’s Investors Service, Inc., or any successor thereto.

 

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

 

“Net
Cash Proceeds” means (a) in connection with any Specified Asset
Sale or any Property Loss Event, the proceeds thereof received by the Borrower
or any Subsidiary in the form of cash and cash equivalents (including any such
proceeds received by way of deferred payment of principal pursuant to a note or
installment receivable or purchase price adjustment receivable or otherwise,
but only as and when received), net of attorneys’ fees, accountants’ fees,
investment banking fees, reserves, escrows, amounts required to be applied to
the repayment of Indebtedness secured by a Lien expressly permitted hereunder
on any asset that is the subject of such Specified Asset Sale or Property Loss
Event and other customary fees and expenses actually incurred in connection
therewith and net of taxes (including taxes arising out of the distribution of
such cash proceeds by a Foreign Subsidiary directly to the Borrower or any
Subsidiary that is not a Foreign Subsidiary) paid or reasonably estimated to be
payable as a result thereof (after taking into account any tax sharing
arrangements); provided that in the case of the
proceeds of a Property Loss Event only, if (x) the Borrower shall deliver a
certificate of an Authorized Officer to the Administrative Agent prior to
receipt thereof setting forth the Borrower’s intent to reinvest such proceeds
in productive assets of a kind then used or usable in the business of the
Borrower and its Subsidiaries within 180 days of receipt of such proceeds and
(y) no Default or Unmatured Default shall have occurred and shall be continuing
at the time of such certificate or at the proposed time of the application of
such proceeds, such proceeds shall not constitute Net Cash Proceeds except to
the extent not so used prior to the end of such 180-day period (or, if later,
180 days after the date the Borrower or a Subsidiary has entered into a binding
commitment to reinvest such proceeds (if such commitment was entered into prior
to the expiration of such initial 180-day period)), at which time such proceeds
shall be deemed to be Net Cash Proceeds and provided further
that no proceeds of any Specified Asset Sale shall constitute Net Cash Proceeds
except to the extent in excess of $10,000,000 for such Specified Asset Sale and
$250,000,000 in the aggregate for all such Specified Asset Sales and (b) in
connection with any Equity Issuance or any Specified Debt Incurrence, the cash
proceeds received by the Borrower or any Subsidiary from such issuance or
incurrence, net of attorneys’ fees, investment banking fees, accountants’ fees,
underwriting discounts and commissions, escrows and other customary fees and
expenses actually incurred in connection therewith and net of taxes (including
taxes arising out of the distribution of such cash proceeds by a Foreign
Subsidiary directly to the Borrower or any Subsidiary that is not a Foreign
Subsidiary) paid or reasonably estimated to be payable as a result thereof
(after taking into account any tax sharing arrangements).

 

15

 

“Non-U.S.
Lender” is defined in Section 3.05(d).

 

“Note”
is defined in Section 2.14.

 

“Notice”
is defined in Section 13.01.

 

“Obligations”
means all unpaid principal of and accrued and unpaid interest on the Loans, all
accrued and unpaid fees and all expenses, reimbursements, indemnities and other
obligations of the Borrower to the Lenders or to any Lender, the Administrative
Agent or any indemnified party arising under the Loan Documents.

 

“Other
Taxes” is defined in Section 3.05(b).

 

“Outstanding
Credit Exposure” means, as to any Lender at any time, the
aggregate principal amount of its Loans outstanding at such time.

 

“Participants”
is defined in Section 12.02(a).

 

“Payment
Date” means the last Business Day of each March, June, September
and December.

 

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

 

“Permitted
Assignee” means each Person identified in writing by the
Borrower to the Arrangers on the date of execution of the Commitment Letter.

 

“Person”
means any natural person, corporation, firm, joint venture, partnership,
association, enterprise, limited liability company, trust or other entity or
organization, or any government or political subdivision or any agency,
department or instrumentality thereof.

 

“Plan”
means an “employee pension benefit plan,” as defined in Section 3(2) of ERISA,
which is covered by Title IV of ERISA or subject to the minimum funding
standards under Section 412 of the Code, as to which the Borrower or any member
of the Controlled Group may have any liability.

 

“Platform”
is defined in Section 13.01.

 

“Prepayment
Event” means any Specified Asset Sale, any Property Loss Event,
any Specified Debt Incurrence and any Equity Issuance.

 

“Pricing
Schedule” means the Schedule attached hereto identified as such.

 

“Prime
Rate” means mean the rate of interest per annum announced from
time to time by Credit Suisse AG (or any successor to Credit Suisse AG in its
capacity as Administrative Agent) as its prime commercial lending rate in
effect at its principal office in New York City.  The

 

16

 

Prime Rate is a reference
rate and does not necessarily represent the lowest or best rate actually
charged to any customer.

 

“Pro
Forma Financials” is defined in Section 4.02(i).

 

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

 

“Property
Loss Event” means any loss of or damage to property or assets
of, or any taking of the property or assets of, the Borrower or its
Subsidiaries, for which such Person receives insurance proceeds (other than
business interruption insurance) or other compensation.

 

“pro
rata” means, when used with respect to a Lender, and any
described aggregate or total amount, an amount equal to such Lender’s pro rata
share or portion based on its percentage of the Aggregate Commitment or if the
Aggregate Commitment has been terminated, its percentage of the Aggregate
Outstanding Credit Exposure.

 

“Purchasers”
is defined in Section 12.03(a).

 

“Regulation
D” means Regulation D of the Board of Governors of the Federal
Reserve System as from time to time in effect and any successor thereto or
other regulation or official interpretation of said Board of Governors relating
to reserve requirements applicable to depositary institutions.

 

“Regulation
U” means Regulation U of the Board of Governors of the Federal
Reserve System as from time to time in effect and any successor or other
regulation or official interpretation of said Board of Governors relating to
the extension of credit by banks and certain other Persons for the purpose of
purchasing or carrying margin stocks applicable to member banks of the Federal
Reserve System and certain other Persons.

 

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

 

“Release”
is defined in the Comprehensive Environmental Response, Compensation and
Liability Act, as amended, 42 U.S.C. 39601 et seq.  “Released”
shall have a corresponding meaning.

 

“Repayment
Date” is defined in Section 2.02.

 

“Reportable
Event” means a reportable event as defined in Section 4043 of
ERISA and the regulations issued under such section, with respect to a Plan,
excluding, however, such events as to which the PBGC has by regulation waived
the requirement of Section 4043(a) of ERISA that it be notified within thirty
(30) days of the occurrence of such event; provided, that
a failure to meet the minimum funding standard of Section 412 or 430 of the
Code or Section 302 of

 

17

 

ERISA shall be a Reportable
Event regardless of the issuance of any such waiver of the notice requirement
in accordance with either Section 4043(a) of ERISA or Section 412(c) of the
Code.

 

“Required
Lenders” means Lenders in the aggregate having more than 50% of
the Aggregate Commitment or, if the Aggregate Commitment has been terminated,
Lenders in the aggregate holding more than 50% of the Aggregate Outstanding
Credit Exposure; provided that if any Lender shall
be a Defaulting Lender at such time, there shall be excluded from the
determination of Required Lenders at such time (a) the unused Commitment of
such Defaulting Lender at such time and (b) Outstanding Credit Exposure of such
Lender at such time.

 

“Reserve
Requirement” means, with respect to an Interest Period, the
maximum aggregate reserve requirement (including all basic, supplemental,
marginal and other reserves) which is imposed under Regulation D on
Eurocurrency liabilities.

 

“Risk-Based
Capital Guidelines” is defined in Section 3.02.

 

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

 

“Schedule”
refers to a specific schedule to this Agreement, unless another document is
specifically referenced.

 

“Senior Notes” means the up to
$1,500,000,000 in aggregate principal amount of senior unsecured notes of the
Borrower issued in a public offering or in a Rule 144A or other private
placement.

 

“Section”
means a numbered section of this Agreement, unless another document is
specifically referenced.

 

“Single
Employer Plan” means a Plan other than a Multiemployer Plan.

 

“Solvent”
and “Solvency” mean, with respect to the
Borrower and its Subsidiaries, on a consolidated basis, on any date of
determination, that on such date (a) the Fair Value (as defined below) of the
property of the Borrower and its Subsidiaries, on a consolidated basis, is
greater than the total amount of liabilities, including contingent liabilities,
of the Borrower and its Subsidiaries, on a consolidated basis, (b) the Present
Fair Salable Value (as defined below) of the assets of the Borrower and its
Subsidiaries, on a consolidated basis, is not less than the amount that will be
required to pay the probable liability of the Borrower and its Subsidiaries on
their debts as they become absolute and matured, (c) the Borrower and its
Subsidiaries do not intend to, and do not believe that they will, incur debts
or liabilities beyond their ability to pay such debts and liabilities as they
mature, (d) the Borrower and its Subsidiaries are not engaged in business or a
transaction, and are not about to engage in business or a transaction, for
which the Borrower’s and its Subsidiaries’ property, on a consolidated basis,
would constitute unreasonably small capital after giving due consideration to
the prevailing practice in the industry in which the Borrower and its
Subsidiaries and the Company and its Subsidiaries are

 

18

 

engaged in on the date
hereof, and (e) the Borrower and its Subsidiaries, on a consolidated basis, are
able to pay their debts and liabilities, contingent obligations and other
commitments as they mature in the ordinary course of business.  The amount of contingent liabilities at any
time shall be computed as the amount that, in the light of all the facts and
circumstances existing at such time, represents the amount that can reasonably
be expected to become an actual or matured liability.  For the purpose hereof, “Fair
Value” means  the amount
at which the aggregate assets of the Borrower and its Subsidiaries would change
hands between a willing buyer and a willing seller within a commercially
reasonable period of time, each having reasonable knowledge of the relevant
facts, neither being under any compulsion to act, with equity to both.  “Present Fair Salable Value”
means the amount that may be realized if the aggregate assets of the Borrower
and its Subsidiaries are sold with reasonable promptness in an arm’s length
transaction under present conditions for the sale of assets of comparable
business enterprises.

 

“Specified
Asset Sale” means, any Specified Disposition by the Borrower or
any Subsidiary other than (a) Specified Dispositions as defined in clause (a)
of the definition thereof in the ordinary course of business, (b) Specified
Dispositions to the Borrower or any Subsidiary, (c) Specified Dispositions
permitted under Section 6.16(a) through Section 6.16(d) and (d) Specified
Dispositions of premium finance receivables pursuant to any Cananwill
Securitization.

 

“Specified
Debt Incurrence” means any incurrence of Indebtedness of the
type set forth in clause (a) or (d) of the definition thereof (including,
without limitation, the Senior Notes) by the Borrower or any Subsidiary other
than (i) any Indebtedness owed to the Borrower or any of its Subsidiaries, (ii)
amounts incurred or outstanding under the Continuing Debt Instruments in the
amounts specified in Section 4.02(g), (iii) Indebtedness under the Term Loan
Credit Agreement and (iv) Excluded Indebtedness.

 

“Specified
Disposition” means, with respect to any Person, (a) the sale,
transfer or other disposition (including any sale and leaseback transaction by
such Person) of any Property (including any equity interests owned by such Person,
or any notes or accounts receivable or any rights and claims associated
therewith) of such Person (or the granting of any option or other right to do
any of the foregoing) and (b) any issuance of Equity Interests by the
Subsidiary of such Person.

 

“Subsequent
Merger” the merger of the surviving corporation in the Merger
with and into Merger LLC, with Merger LLC surviving as a Wholly Owned
Subsidiary of Borrower.

 

“Subsidiary”
of a Person means (a) any corporation more than 50% of the outstanding securities
having ordinary voting power of which shall at the time be owned or controlled,
directly or indirectly, by such Person or by one or more of its Subsidiaries or
by such Person and one or more of its Subsidiaries, or (b) any partnership,
association, joint venture, limited liability company or similar business
organization more than 50% of the ownership interests having ordinary voting
power of which shall at the time be so owned or controlled.  Unless otherwise expressly provided, all
references herein to a “Subsidiary”
shall mean a Subsidiary of the Borrower.

 

19

 

“Substantial
Portion” means, with respect to the Property of the Borrower and
its Subsidiaries, Property which (a) represents more than 10% of the
consolidated assets of the Borrower and its Subsidiaries, as would be shown in
the consolidated financial statements of the Borrower and its Subsidiaries as
at the end of the quarter next preceding the date on which such determination
is made, or (b) is responsible for more than 10% of the consolidated net sales
or of the consolidated net income of the Borrower and its Subsidiaries for the
12-month period ending as of the end of the quarter next preceding the date of
determination.

 

“Syndication
Agent” means Morgan Stanley Senior Funding, Inc. and its
successors, in its capacity as “Syndication Agent”.

 

“Taxes”
means any and all present or future taxes, duties, levies, imposts, deductions,
charges or withholdings, and any and all liabilities with respect to the
foregoing, but excluding Excluded Taxes and Other Taxes.

 

“Term
Credit Agreement” means the Three-Year Term Credit Agreement
dated as of the date hereof among Aon Corporation, as borrower, Credit Suisse
AG, as administrative agent, and the lenders and agents party thereto as it may
be amended or modified and in effect from time to time to the extent permitted
hereunder.

 

“Term
Loan Documents” means the “Loan Documents” as defined in the
Term Credit Agreement.

 

“Term
Loans” means the “Loans” as defined in the Term Credit
Agreement.

 

“Termination
Event” means, with respect to any Plan which is subject to Title
IV of ERISA, (a) a Reportable Event, (b) the withdrawal of the Borrower or any
other member of the Controlled Group from such Plan during a plan year in which
the Borrower or any other member of the Controlled Group was a “substantial
employer” as defined in Section 4001(a)(2) of ERISA or was deemed such under
Section 4068(f) of ERISA, the conditions for imposition of a lien under Section
303(d) of ERISA shall have been met, (d) a determination that any Plan is in
“at risk” status (within the meaning of Section 303 of ERISA), (e) the
termination of such Plan, the filing of a notice of intent to terminate such
Plan or the treatment of an amendment of such Plan as a termination under
Section 4041 of ERISA, (f) the institution by the PBGC of proceedings to
terminate such Plan or (g) any event or condition which might constitute
grounds under Section 4042 of ERISA for the termination of, or appointment of a
trustee to administer, such Plan.

 

“Transactions”
means (i) the Merger and the Subsequent Merger, including the payment of the
Merger Consideration, (ii) the execution, delivery and performance of this
Agreement, including the funding of the Loans hereunder and the application of
the proceeds thereof, (iii) the execution, delivery and performance of the Term
Credit Agreement, (iv) the issuance of the Senior Notes, and, to the extent the
Borrower is unable to issue the Senior Notes on or prior to the date the Merger
is consummated, the funding of the Term Loans and the application of the
proceeds thereof and (v) payment of the Transaction Costs.

 

20

 

“Transactions
Costs” means fees and expenses in an aggregate amount not to
exceed $50,000,000 in connection with the Transactions.

 

“Transferee”
is defined in Section 12.04.

 

“Type”
means, with respect to any Advance, its nature as an Alternate Base Rate Advance
or a Eurodollar Advance.

 

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

 

“USA
PATRIOT Act” shall mean The Uniting and Strengthening America by
Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of
2001 (Title III of Pub.  L.  No. 
107-56 (signed into law October 26, 2001)).

 

“Wholly
Owned Subsidiary” of a Person means (a) any Subsidiary all of
the outstanding voting securities of which shall at the time be owned or
controlled, directly or indirectly, by such Person or one or more Wholly Owned
Subsidiaries of such Person, or by such Person and one or more Wholly Owned
Subsidiaries of such Person, or (b) any partnership, association, joint venture,
limited liability company or similar business organization 100% of the
ownership interests having ordinary voting power of which shall at the time be
so owned or controlled.  Unless otherwise
provided, all references herein to a “Wholly Owned Subsidiary”
shall mean a Wholly Owned Subsidiary of the Borrower.

 

The foregoing definitions
shall be equally applicable to both the singular and plural forms of the
defined terms.  In computations of
periods of time from a specified date to a later specified date, the word “from” means “from
and including” and the words “to”
and “until” each mean “to but excluding”.

 

ARTICLE 2

THE CREDITS

 

Section
2.01. 
Commitment.  Each
Lender severally agrees, on the terms and conditions set forth in this
Agreement, to make Loans to the Borrower on the Closing Date in a principal
amount not to exceed the amount of its Commitment.  Amounts borrowed under this Section 2.01 and
repaid or prepaid may not be reborrowed.

 

Section
2.02.  Required
Payments.  All unpaid
Obligations shall be paid in full by the Borrower on the Maturity Date.

 

Section
2.03.  Ratable
Loans.  Each Advance hereunder
shall consist of Loans made from the several Lenders ratably in proportion to
the ratio that their respective Commitments bear to the Aggregate Commitment.

 

21

 

Section
2.04.  Types of
Advances.  The Advances may be
Alternate Base Rate Advances or Eurodollar Advances, or a combination thereof,
selected by the Borrower in accordance with Section 2.09 and Section 2.10.

 

Section
2.05.  Undrawn
Commitment Fee / Duration Fees / Termination or Reductions of Commitments.

 

(a)        The
Borrower agrees to pay to the Administrative Agent for the account of each
Lender a commitment fee (the “Commitment Fee”),
which shall accrue at 0.25% per annum on the daily amount of the unused
Commitment of such Lender during the period from and including August 25, 2010
to but excluding the earlier to occur of (i) the termination of the Commitments
hereunder and (ii) the Closing Date and shall be payable on such earlier date.

 

(b)        All
unused Commitments after giving effect to the Advances on the Closing Date
shall automatically terminate.  In
addition, the Commitments shall automatically terminate in the event that the
Closing Date does not occur on or before the earlier of (i) 5:00 p.m., New York
City time, on March 31, 2011 or (ii) the date on which the Merger Agreement
terminates or either party thereto publicly announces its intention not to
proceed with the Acquisition.

 

(c)        The
Borrower agrees to pay to the Administrative Agent ratably for the account of
each Lender a duration fee (the “Duration Fee”)
in an amount equal to (i) 0.75% of the aggregate principal amount of the Loans
outstanding on the date which is 90 days after the Closing Date, due and
payable on such 90th day (or if such day is not a Business Day, the next
Business Day); (ii) 1.25% of the aggregate principal amount of the Loans
outstanding on the date which is 180 days after the Closing Date, due and
payable on such 180th day (or if such day is not a Business Day, the next
Business Day); and (iii) 1.75% of the aggregate principal amount of the Loans
outstanding on the date which is 270 days after the Closing Date, due and
payable on such 270th day (or if such day is not a Business Day, the next
Business Day).

 

(d)        At any
time prior to the Closing Date, the Borrower may permanently reduce the
Aggregate Commitment in whole, or in part ratably among the Lenders in a
minimum aggregate amount of $10,000,000 or any integral multiple of $1,000,000
in excess thereof, upon at least three (3) Business Days’ written notice to the
Administrative Agent, which notice shall specify the amount of any such
reduction.

 

(e)        Upon
the occurrence of any Prepayment Event prior to the Closing Date, the
Commitments shall automatically be reduced in an aggregate amount equal to 100%
of the Net Cash Proceeds of such Prepayment Event.  The Borrower shall notify the Administrative
Agent of the occurrence of any Prepayment Event at least two Business Days
prior to the consummation of such Prepayment Event and such notice shall be
accompanied by a reasonably detailed calculation of the Net Cash Proceeds
thereof.  Promptly following receipt of
such notice, the Administrative Agent shall advise the Lenders of the
occurrence of the Prepayment Event and the Net Cash Proceeds thereof.  Any termination or reduction of the
Commitments shall be permanent.  Each
reduction of the Commitments shall be made ratably among the Lenders in
accordance with their respective Commitments.

 

22

 

(f)         The
Borrower agrees to pay to the Administrative Agent and the other parties
thereto the fees payable in the amounts and at the times set forth in the Fee
Letter, the Commitment Letter and the Co-Arranger Commitment Letter, except
that any “ticking fee” payable pursuant to the Fee Letter or the Co-Arranger
Commitment Letter with respect to the Commitments shall, from the Effective
Date, be replaced with the Commitment Fee.

 

Section
2.06.  Minimum
Amount of Each Advance.  Each
Eurodollar Advance shall be in the minimum amount of $10,000,000 (and in
multiples of $1,000,000 if in excess thereof), provided,
however, that in no event shall more than six (6) Eurodollar
Advances be permitted to be outstanding at any time.

 

Section
2.07.  Optional
Principal Payments.  The
Borrower may from time to time pay, without penalty or premium, all outstanding
Alternate Base Rate Advances, or, in a minimum aggregate amount of $10,000,000
or any integral multiple of $1,000,000 in excess thereof, any portion of the
outstanding Alternate Base Rate Advances upon notice to the Administrative
Agent by 11:00 a.m. (New York time) on the Business Day of the proposed
prepayment.  The Borrower may from time
to time pay, subject to the payment of any funding indemnification amounts
required by Section 3.04 but without penalty or premium, all outstanding
Eurodollar Advances, or, in a minimum aggregate amount of $10,000,000 or any
integral multiple of $1,000,000 in excess thereof, any portion of an
outstanding Eurodollar Advance, upon three (3) Business Days’ prior notice to
the Administrative Agent.

 

Section
2.08.  Mandatory
Prepayments.

 

(a)        Within
5 Business Days of the receipt of any Net Cash Proceeds from any Prepayment
Event occurring on or after the Closing Date, the Borrower shall prepay the
Loans in an aggregate amount equal to 100% of the amount of such Net Cash
Proceeds.  The Borrower shall effect such
prepayment within 5 Business Days of receipt of such Net Cash Proceeds.  The Borrower shall notify the Administrative
Agent of the occurrence of any Prepayment Event at least two Business Days
prior to the consummation of such Prepayment Event and such notice shall be accompanied
by a reasonably detailed calculation of the Net Cash Proceeds thereof. Promptly
following receipt of such notice, the Administrative Agent shall advise the
Lenders of the occurrence of the Prepayment Event and the Net Cash Proceeds
thereof.

 

(b)        Each
prepayment of an Advance shall be applied ratably to the Loans included in the
prepaid Advance.  Prepayments shall be
accompanied by accrued interest to the extent required by Section 2.16 and
compensation for break funding to the extent required by Section 3.04.

 

Section
2.09.  Method of Selecting
Types and Interest Periods for New Advances. 
The Borrower shall select the Type of Advance and, in the
case of each Eurodollar Advance, the Interest Period applicable thereto from
time to time.  The Borrower shall give
the Administrative Agent irrevocable notice (a “Borrowing
Notice”) not later than 11:00 a.m. (New York time) on the
Business Day prior to the Closing Date of each Alternate Base Rate Advance and
at least three (3) Business Days before the Closing Date for each Eurodollar
Advance, specifying:

 

23

 

(a)        the
Borrowing Date of such Advance, which shall be the Closing Date and a Business
Day;

 

(b)        the
aggregate amount of such Advance;

 

(c)        the
Type of Advance selected; and

 

(d)        in the
case of each Eurodollar Advance, the Interest Period applicable thereto.

 

Not later than 11:00 a.m.
(New York time) on the Closing Date, each Lender shall make available its Loan
or Loans, in funds immediately available in New York, to the Administrative
Agent at its address specified pursuant to Article 13.  The Administrative Agent will make the funds
so received from the Lenders available to the Borrower at the Administrative
Agent’s aforesaid address.

 

Section
2.10.  
Conversion and Continuation of Outstanding Advances.  Each Alternate Base Rate Advance
shall continue as an Alternate Base Rate Advance unless and until such
Alternate Base Rate Advance is converted into a Eurodollar Advance pursuant to
this Section 2.10 or is repaid in accordance with Section 2.07.  Each Eurodollar Advance shall continue as a
Eurodollar Advance until the end of the then applicable Interest Period
therefor, at which time such Eurodollar Advance shall be automatically
converted into an Alternate Base Rate Advance unless (a) such Eurodollar
Advance is or was repaid in accordance with Section 2.07 or (b) the Borrower
shall have given the Administrative Agent a Conversion/Continuation Notice (as
defined below) requesting that, at the end of such Interest Period, such
Eurodollar Advance continue as a Eurodollar Advance for the same or another
Interest Period (or, if no Interest Period is specified in such
Conversion/Continuation Notice, continuation shall be for a one (1) month
Interest Period).  Subject to the terms
of Section 2.06, the Borrower may elect from time to time to convert all or any
part of an Alternate Base Rate Advance into a Eurodollar Advance.  Subject to the payment of any funding
indemnification amounts required by Section 3.04, the Borrower may elect from
time to time to convert all or any part of a Eurodollar Advance into an
Alternate Base Rate Advance.  The
Borrower shall give the Administrative Agent irrevocable notice (a “Conversion/Continuation Notice”) of
each (x) conversion of an Alternate Base Rate Advance into a Eurodollar Advance
or the continuation of a Eurodollar Advance as a new Eurodollar Advance not
later than 11:00 a.m. (New York time) at least three (3) Business Days prior to
the date of the requested conversion or continuation and (y) conversion of a Eurodollar
Advance into an Alternate Base Rate Advance, not later than 11:00 a.m. (New
York time) on the date of the requested conversion, in each case specifying:

 

(a)        the
requested date of such conversion or continuation, which shall be a Business
Day;

 

(b)        the
aggregate amount and Type of the Advance which is to be converted or continued;
and

 

24

 

(c)        the
amount and Type(s) of Advance(s) into which such Advance is to be converted or
continued and, in the case of a conversion into or continuation of a Eurodollar
Advance, the duration of the Interest Period applicable thereto, which shall
end on or prior to the Maturity Date.

 

Section
2.11.  Interest
Rate, Etc.  Each Alternate
Base Rate Advance shall bear interest on the outstanding principal amount
thereof, for each day from and including the date such Advance is made or is
converted from a Eurodollar Advance into an Alternate Base Rate Advance
pursuant to Section 2.10, to but excluding the date it is paid or is converted
into a Eurodollar Advance pursuant to Section 2.10 hereof, at a rate per annum
equal to the Alternate Base Rate plus the
Applicable Margin with respect to Alternate Base Rate Advances, in each case
for such day.  Changes in the rate of
interest on that portion of any Advance maintained as an Alternate Base Rate
Advance will take effect simultaneously with each change in the Alternate Base
Rate.  Each Eurodollar Advance shall bear
interest on the outstanding principal amount thereof from and including the
first day of the Interest Period applicable thereto to (but not including) the
last day of such Interest Period at the Eurodollar Rate determined by the
Administrative Agent as applicable to such Eurodollar Advance based upon the
Borrower’s selections under Section 2.09 and Section 2.10 and otherwise in
accordance with the terms hereof.  No
Interest Period may end after the Maturity Date.

 

Section
2.12.  Rates
Applicable After Default.  Notwithstanding
anything to the contrary contained in Section 2.09 or Section 2.10, no Advance
may be made as, converted into or continued as a Eurodollar Advance (except
with the consent of the Administrative Agent and the Required Lenders) when any
Default or Unmatured Default has occurred and is continuing.  During the continuance of a Default the
Required Lenders may, at their option, by notice to the Borrower (which notice
may be revoked at the option of the Required Lenders notwithstanding any
provision of Section 8.02 requiring unanimous consent of the Lenders to changes
in interest rates), declare that (a) each Eurodollar Advance shall bear
interest for the remainder of the applicable Interest Period at the Eurodollar
Rate otherwise applicable to such Interest Period plus 2% per annum and (b)
each Alternate Base Rate Advance shall bear interest at a rate per annum equal
to the Alternate Base Rate in effect from time to time plus the Applicable
Margin for Alternate Base Rate Advances plus 2% per annum provided
that, during the continuance of a Default under Section 7.01(f) or Section
7.01(g), the interest rates set forth in clauses (a) and (b) above shall be
applicable to all Advances without any election or action on the part of the
Administrative Agent or any Lender.

 

Section
2.13.  Method of
Payment.  All payments of the
Obligations hereunder shall be made, without setoff, deduction or counterclaim,
in immediately available funds to the Administrative Agent at the
Administrative Agent’s address specified pursuant to Article 13, or at any
other Lending Installation of the Administrative Agent specified in writing by
the Administrative Agent to the Borrower, by noon (New York time) on the date
when due and shall be applied ratably by the Administrative Agent among the
Lenders entitled to such payments.  Each
payment delivered to the Administrative Agent for the account of any Lender
shall be delivered promptly by the Administrative Agent to such Lender in the
same type of funds that

 

25

 

the Administrative Agent
received at its address specified pursuant to Article 13 or at any Lending
Installation specified in a notice received by the Administrative Agent from
such Lender.

 

Section
2.14.  Noteless
Agreement; Evidence of Indebtedness.  Each
Lender shall maintain in accordance with its usual practice an account or
accounts evidencing the indebtedness of the Borrower to such Lender resulting
from each Loan made by such Lender from time to time, including the amounts of
principal and interest payable and paid to such Lender from time to time
hereunder.

 

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

 

(b)        The
entries maintained in the accounts maintained pursuant to paragraphs (a) and
(b) above shall be prima facie evidence of the existence and amounts of the
Obligations therein recorded; provided, however, that the failure of the Administrative Agent or any
Lender to maintain such accounts or any error therein shall not in any manner
affect the obligation of the Borrower to repay the Obligations in accordance
with their terms.

 

(c)        Any
Lender may request that its Loans be evidenced by a promissory note in
substantially the form of Exhibit A (including any amendment, modification,
renewal or replacement thereof, a “Note”).  In such event, the Borrower shall prepare,
execute and deliver to such Lender such Note payable to the order of such
Lender.  Thereafter, the Loans evidenced
by such Note and interest thereon shall at all times (including after any
assignment pursuant to Section 12.03) be represented by one or more Notes
payable to the order of the payee named therein or any assignee pursuant to
Section 12.03, except to the extent that any such Lender or assignee
subsequently returns any such Note for cancellation and requests that such
Loans once again be evidenced as described in paragraphs (a) and (b)
above.  Upon receipt of an affidavit of
an officer of any Lender as to the loss, theft, destruction or mutilation of
such Lender’s Note, and, in the case of any such loss, theft, destruction or
mutilation, upon cancellation of such Note, the Borrower will issue, in lieu
thereof, a replacement Note in the same principal amount thereof and otherwise
of like tenor.

 

Section
2.15.  Telephonic
Notices.  The Borrower hereby
authorizes the Lenders and the Administrative Agent to extend, convert or
continue Advances, effect selections of Types of Advances and to transfer funds
based on telephonic notices made by any person or persons the Administrative
Agent or any Lender in good faith believes to be acting on behalf of the
Borrower, it being understood that the foregoing authorization is specifically
intended to allow Borrowing Notices and Conversion/Continuation Notices to be
given telephonically; provided that
the Borrower delivers promptly to the Administrative Agent a written
confirmation of each telephonic notice signed by an Authorized Officer.  If the written confirmation differs in any

 

26

 

material respect from the
action taken by the Administrative Agent and the Lenders, the records of the
Administrative Agent and the Lenders shall govern absent manifest error.

 

Section
2.16.  Interest Payment
Dates; Interest and Fee Basis.  Interest
accrued on each Alternate Base Rate Advance shall be payable on each Payment
Date, commencing with the first such date to occur after the date hereof, on
any date on which an Alternate Base Rate Advance is prepaid (with respect to
the principal so prepaid), whether due to acceleration or otherwise, and at
maturity.  Interest accrued on that
portion of the outstanding principal amount of any Alternate Base Rate Advance
converted into a Eurodollar Advance on a day other than a Payment Date shall be
payable on the date of conversion. 
Interest accrued on each Eurodollar Advance shall be payable on the last
day of its applicable Interest Period, on any date on which the Eurodollar
Advance is prepaid (with respect to the principal so prepaid), whether by
acceleration or otherwise, and at maturity. 
Interest accrued on each Eurodollar Advance having an Interest Period
longer than three (3) months shall also be payable on the last day of each
three-month interval during such Interest Period.  Interest with respect to Eurodollar Loans,
Commitment Fees and Alternate Base Rate Loans for which interest is not
determined by reference to the Prime Rate shall be calculated for actual days
elapsed on the basis of a 360 day year. 
Interest with respect to Alternate Base Rate Loans for which interest is
determined by reference to the Prime Rate shall be calculated for the actual
days elapsed on the basis of a 365 or 366 day year, as applicable.  Interest shall be payable for the day an
Advance is made but not for the day of any payment.  If any payment of principal of or interest on
an Advance shall become due on a day which is not a Business Day, such payment
shall be made on the next succeeding Business Day and, in the case of a
principal payment, such extension of time shall be included in computing
interest in connection with such payment.

 

Section
2.17. 
Notification of Advances, Interest Rates, Prepayments and Commitment
Reductions.  Promptly after
receipt thereof, the Administrative Agent will notify each Lender of the
contents of each Aggregate Commitment reduction notice, Borrowing Notice,
Conversion/Continuation Notice, and repayment notice received by it
hereunder.  The Administrative Agent will
notify each Lender of the Eurodollar Rate applicable to each Eurodollar Advance
promptly upon determination of such interest rate and will give each Lender
prompt notice of each change in the Alternate Base Rate.

 

Section
2.18.  Lending
Installations.  Each Lender
may book its Loans at any Lending Installation selected by such Lender and may
change its Lending Installation from time to time.  All terms of this Agreement shall apply to
any such Lending Installation and the Loans and any Notes issued hereunder
shall be deemed held by each Lender for the benefit of any such Lending
Installation.  Each Lender may, by
written notice to the Administrative Agent and the Borrower in accordance with
Article 13, designate replacement or additional Lending Installations through
which Loans will be made by it will be issued by it and for whose account Loan
payments are to be made.

 

Section
2.19. 
Non-Receipt of Funds by the Administrative Agent.  Unless the Borrower or a Lender,
as the case may be, notifies the Administrative Agent prior to the time at
which it is

 

27

 

scheduled to make payment
to the Administrative Agent of (a) in the case of a Lender, the proceeds of a
Loan, or (b) in the case of the Borrower, a payment of principal, interest or
fees to the Administrative Agent for the account of the Lenders, that it does
not intend to make such payment, the Administrative Agent may assume that such
payment has been made.  The
Administrative Agent may, but shall not be obligated to, make the amount of
such payment available to the intended recipient in reliance upon such
assumption.  If such Lender or the
Borrower, as the case may be, has not in fact made such payment to the
Administrative Agent, the recipient of such payment shall, on demand by the Administrative
Agent, repay to the Administrative Agent the amount so made available together
with interest thereon in respect of each day during the period commencing on
the date such amount was so made available by the Administrative Agent until
the date the Administrative Agent recovers such amount at a rate per annum
equal to (i) in the case of payment by a Lender, the Federal Funds Effective
Rate for such day for the first three (3) days and, thereafter, the interest
rate applicable to the relevant Loan or (ii) in the case of payment by the
Borrower, the interest rate applicable to the relevant Loan.

 

Section
2.20. 
Replacement of Lender.  If
(a) the Borrower is required pursuant to Section 3.01, 3.02 or 3.05 to make any
additional payment to any Lender, (b) any Lender’s obligation to make or
continue, or to convert Alternate Base Rate Advances into, Eurodollar Advances
shall be suspended pursuant to Section 3.03, or (c) any Lender is a Defaulting
Lender (any Lender so affected an “Affected Lender”),
the Borrower may elect, if such amounts continue to be charged or such
suspension is still effective or such Lender continues to be a Defaulting
Lender, to replace such Affected Lender as a Lender party to this Agreement,
provided that no Default or Unmatured Default shall have occurred and be
continuing at the time of such replacement, and provided
further that, concurrently with such
replacement, (i) another bank or other entity which is reasonably satisfactory
to the Borrower and the Administrative Agent shall agree, as of such date, to
purchase for cash the Advances at par and other Obligations due to the Affected
Lender pursuant to an assignment substantially in the form of Exhibit C and to
become a Lender for all purposes under this Agreement and to assume all
obligations of the Affected Lender to be terminated as of such date and to
comply with the requirements of Section 12.03 applicable to assignments, and
(ii) the Borrower and/or the assignee shall pay to such Affected Lender in same
day funds on the day of such replacement (A) all interest, fees and other
amounts then accrued but unpaid to such Affected Lender by the Borrower
hereunder to and including the date of termination, including without
limitation payments due to such Affected Lender under Section 3.01, 3.02 and
3.05, and (B) an amount, if any, equal to the payment which would have been due
to such Lender on the day of such replacement under Section 3.04 had the Loans
of such Affected Lender been prepaid on such date rather than sold to the replacement
Lender.  For purposes hereof, “Defaulting Lender” means a Lender
that has (i) defaulted in its obligation to fund any Loan within one Business
Day after the date required to be funded by it or (ii) has (or whose parent
company has) become the subject of a bankruptcy or insolvency proceeding or has
had a receiver or conservator appointed with respect to such Lender (or such
Lender’s parent company) at the direction or request of any regulatory agency
or authority (or similar regulatory action has been taken with respect to such
Lender or parent company of such Lender, provided that a Lender shall not
become a Defaulting Lender solely as a result of either (1) the acquisition or
maintenance of an ownership interest in such Lender or a Person controlling
such Lender by a 

 

28

 

Governmental Authority or
an instrumentality thereof or (2) the exercise of control over such Lender or
Person controlling such Lender by a Governmental Authority or an instrumentality
thereof incident to such ownership interest.

 

ARTICLE 3

YIELD PROTECTION; TAXES

 

Section
3.01.  Yield
Protection.  If, on or after
the date of this Agreement, the adoption of any law or any governmental or
quasi governmental rule, regulation, policy, guideline or directive (whether or
not having the force of law), or any change in the interpretation or
administration thereof by any governmental or quasi-governmental authority,
central bank or comparable agency charged with the interpretation or administration
thereof, or compliance by any Lender or applicable Lending Installation with
any request or directive (whether or not having the force of law) of any such
authority, central bank or comparable agency

 

(a)        subjects
any Lender or any applicable Lending Installation to any Taxes or Other Taxes,
or changes the basis of taxation of payments (other than with respect to
Excluded Taxes) to any Lender in respect of its Eurodollar Loans, or

 

(b)        imposes
or increases or deems applicable any reserve, assessment, insurance charge,
special deposit or similar requirement against assets of, deposits with or for
the account of, or credit extended by, any Lender or any applicable Lending
Installation (other than reserves and assessments taken into account in
determining the interest rate applicable to Eurodollar Advances), or

 

(c)        imposes
any other condition the result of which is to increase the cost to any Lender
or any applicable Lending Installation of making, funding or maintaining its
Eurodollar Loans, or reduces any amount receivable by any Lender or any
applicable Lending Installation in connection with its Eurodollar Loans, or
requires any Lender or any applicable Lending Installation to make any payment
calculated by reference to the amount of Eurodollar Loans, held or interest
received by it, by an amount deemed material by such Lender, and the result of
any of the foregoing is to increase the cost to such Lender or applicable
Lending Installation of making or maintaining its Eurodollar Loans or
Commitment or to reduce the return received by such Lender or applicable
Lending Installation in connection with such Eurodollar Loans or Commitment,
then, within fifteen (15) days of demand by such Lender as provided in Section
3.06, the Borrower shall pay such Lender such additional amount or amounts as
will compensate such Lender for such increased cost or reduction in amount
received.

 

Section
3.02.  Changes in
Capital Adequacy Regulations.  If
a Lender determines the amount of capital required or expected to be maintained
by such Lender, any Lending Installation of such Lender or any corporation
controlling such Lender is increased as a result of a Change, then, within
fifteen (15) days of demand by such Lender as provided in Section 3.06, the
Borrower shall pay such Lender the amount necessary to compensate for any
shortfall in the

 

29

 

rate of return on the
portion of such increased capital which such Lender determines is attributable
to this Agreement, its Outstanding Credit Exposure or its Commitment to make
Loans hereunder (after taking into account such Lender’s policies as to capital
adequacy).  “Change”
means (a) any change after the date of this Agreement in the Risk-Based Capital
Guidelines or (b) any adoption of or change in any other law, governmental or
quasi governmental rule, regulation, policy, guideline, interpretation, or
directive (whether or not having the force of law) after the date of this
Agreement which affects the amount of capital required or expected to be
maintained by any Lender or any Lending Installation or any Person controlling
any Lender.  “Risk-Based
Capital Guidelines” means (a) the risk-based capital guidelines
in effect in the United States on the date of this Agreement, including transition
rules, and (b) the corresponding capital regulations promulgated by regulatory
authorities outside the United States implementing the July 1988 report of the
Basel Committee on Banking Regulation and Supervisory Practices entitled “International
Convergence of Capital Measurements and Capital Standards,” including
transition rules, and any amendments to such regulations adopted prior to the
date of this Agreement.

 

Section
3.03. 
Availability of Types of Advances. 
If any Lender determines that maintenance of its Eurodollar
Loans at a suitable Lending Installation would violate any applicable law,
rule, regulation, interpretation or directive, whether or not having the force
of law, or if the Required Lenders determine that (a) deposits of a type and maturity
appropriate to match fund Eurodollar Advances are not available or (b) the
interest rate applicable to Eurodollar Advances does not accurately or fairly
reflect the cost of making or maintaining Eurodollar Advances, then the
Administrative Agent shall suspend the availability of Eurodollar Advances and
require any affected Eurodollar Advances to be repaid or converted to Alternate
Base Rate Advances, subject to the payment of any funding indemnification
amounts required by Section 3.04.

 

Section
3.04.  Funding
Indemnification.  If any
payment of a Eurodollar Advance occurs on a date prior to the last day of the
applicable Interest Period, whether because of acceleration, prepayment or
otherwise, or a Eurodollar Advance is not made on the date specified by the
Borrower for any reason other than default by the Lenders, the Borrower will
indemnify each Lender for any loss or cost incurred by it resulting therefrom,
including, without limitation, any loss or cost in liquidating or employing
deposits acquired to fund or maintain such Eurodollar Advance.

 

Section
3.05.  Taxes.

 

(a)        Subject
to applicable law, all payments by the Borrower to or for the account of any
Lender or the Administrative Agent hereunder or under any Note shall be made
free and clear of and without deduction for any and all Taxes.  Subject to subsection (c) below and Section
3.06, if the Borrower shall be required by law to deduct any Taxes from or in
respect of any sum payable hereunder to any Lender or the Administrative Agent,
(i) the sum payable shall be increased as necessary so that after making all
required deductions (including deductions applicable to additional sums payable
under this Section 3.05) such Lender or the Administrative

 

30

 

Agent
(as the case may be) receives an amount equal to the sum it would have received
had no such deductions been made, (ii) the Borrower shall make such deductions,
(iii) the Borrower shall pay the full amount deducted to the relevant authority
in accordance with applicable law and (iv) the Borrower shall furnish to the
Administrative Agent the original copy of a receipt evidencing payment thereof,
or other evidence reasonably acceptable to the Administrative Agent, within
thirty (30) days after such payment is made.

 

(b)        In
addition, the Borrower hereby agrees to pay any present or future stamp or
documentary taxes and any other excise or property taxes, charges or similar
levies which arise from any payment made hereunder or under any Note or from
the execution or delivery of, or otherwise with respect to, this Agreement or
any Note (“Other Taxes”).

 

(c)        The
Borrower hereby agrees to indemnify the Administrative Agent and each Lender
for the full amount of Taxes or Other Taxes (including, without limitation, any
Taxes or Other Taxes imposed on amounts payable under this Section 3.05) paid
by the Administrative Agent or such Lender and any liability (including
penalties, interest and expenses) arising therefrom or with respect thereto.  Payments due under this indemnification shall
be made within thirty (30) days of the date the Administrative Agent or such
Lender makes demand therefor pursuant to Section 3.06.

 

(d)        Each
Lender that is not incorporated or otherwise organized under the laws of the
United States of America or a state thereof (each a “Non-U.S.
Lender”) agrees that it will, not more than ten (10) Business
Days after the date of this Agreement (or, in the case of a Lender who becomes
a party hereto after the date of this Agreement, the date it becomes a party
hereto), deliver to each of the Borrower and the Administrative Agent two duly
completed copies of United States Internal Revenue Service Form W-8BEN or
W-8ECI or W-8IMY (and any required attachments), certifying in either case that
such Lender is entitled to receive payments under this Agreement without
deduction or withholding of any United States federal income taxes.  Each Non-U.S. Lender further undertakes, to
the extent lawful at such time, to deliver to each of the Borrower and the Administrative
Agent (i) renewals or additional copies of such form (or any successor form) on
or before the date that such form expires or becomes obsolete, and (ii) after
the occurrence of any event requiring a change in the most recent forms so
delivered by it, such additional forms or amendments thereto as may be required
by applicable law or otherwise reasonably requested by the Borrower or the
Administrative Agent.  In addition, each
Non-US Lender shall deliver to the Administrative Agent and the Borrower any
documents as shall be prescribed by applicable law or otherwise reasonably
requested to demonstrate that payments to such Lender under this Agreement and
the other Loan Documents are exempt from any United States federal withholding
tax imposed pursuant to FATCA.  All forms
or amendments described in the preceding sentence shall certify that such
Lender is entitled to receive payments of interest under this Agreement without
deduction or withholding of any United States federal income taxes, unless an
event (including without limitation any change in treaty, law or regulation)
has occurred after the date it became a Lender hereunder and prior to the date
on which any such delivery would otherwise be required which renders all such
forms inapplicable or which would prevent such Lender from duly completing and
delivering any such

 

31

 

form
or amendment with respect to it and such Lender advises the Borrower and the
Administrative Agent that it is not capable of receiving payments of interest
without any deduction or withholding of United States federal income tax.  For purposes of this Section 3.05(d), each
change of a Lender’s Lending Installation in accordance with Section 2.18 shall
be treated as though such Lending Installation became a party hereto on the
date of such change of Lending Installation.

 

(e)        For
any period during which a Non-U.S. Lender has failed to provide the Borrower
with an appropriate form or other document pursuant to clause (d) above (unless
such failure is due to a change in treaty, law or regulation, or any change in
the interpretation or administration thereof by any Governmental Authority,
occurring subsequent to the date on which a form or other document originally
was required to be provided), such Non-U.S. Lender shall not be entitled to
indemnification under this Section 3.05 with respect to Taxes imposed by the
United States; provided that, should a Non-U.S.
Lender which is otherwise exempt from or subject to a reduced rate of
withholding tax become subject to Taxes because of its failure to deliver a
form or other document required under clause (d), above, the Borrower shall
take such steps as such Non-U.S. Lender shall reasonably request to assist such
Non-U.S. Lender to recover such Taxes.

 

(f)         Any
Lender that is entitled to an exemption from or reduction of withholding tax
with respect to payments under this Agreement or any Note pursuant to the law
of any relevant jurisdiction or any treaty shall deliver to the Borrower (with
a copy to the Administrative Agent), at the time or times prescribed by
applicable law, such properly completed and executed documentation prescribed
by applicable law as will permit such payments to be made without withholding
or at a reduced rate.

 

(g)        Each
Lender that is not a Non-U.S. Lender shall deliver to the Borrower and the
Administrative Agent on or prior to the date on which such Lender becomes a
Lender under this Agreement (and from time to time thereafter upon the request
of the Borrower or the Administrative Agent), executed originals of Internal
Revenue Service Form W-9 or such other documentation or information prescribed
by applicable laws or reasonably requested by the Borrower or the
Administrative Agent as will enable the Borrower or the Administrative Agent,
as the case may be, to determine whether or not such Lender is subject to
backup withholding or information reporting requirements.

 

(h)        If the
U.S. Internal Revenue Service or any other Governmental Authority of the United
States or any other country or any political subdivision thereof asserts a
claim that the Administrative Agent did not properly withhold tax from amounts
paid to or for the account of any Lender (because the appropriate form was not
delivered or properly completed, because such Lender failed to notify the
Administrative Agent of a change in circumstances which rendered its exemption
from withholding ineffective, or for any other reason not caused by or
constituting gross negligence or willful misconduct of the Administrative
Agent), such Lender shall indemnify the Administrative Agent fully for all
amounts paid, directly or indirectly, by the Administrative Agent as tax,
withholding therefor, or otherwise, including penalties and interest, and
including taxes imposed by any jurisdiction on amounts payable to the
Administrative Agent

 

32

 

under
this subsection, together with all reasonable costs and expenses related
thereto (including reasonable attorneys’ fees and reasonable time charges of
attorneys for the Administrative Agent, which attorneys may be employees of the
Administrative Agent).  The obligations
of the Lenders under this Section 3.05(h) shall survive the payment of the
Obligations and termination of this Agreement.

 

Section
3.06.  Lender
Statements; Survival of Indemnity.  To
the extent reasonably possible, each Lender shall designate an alternate
Lending Installation with respect to its Eurodollar Loans to reduce any
liability of the Borrower to such Lender under Sections 3.01, 3.02 and 3.05 or
to avoid the unavailability of Eurodollar Advances under Section 3.03, so long
as such designation is not, in the judgment of such Lender, disadvantageous to
such Lender.  Each Lender shall deliver a
written statement of such Lender to the Borrower (with a copy to the
Administrative Agent) as to the amount due, if any, under Section 3.01, 3.02,
3.04 or 3.05.  Such written statement
shall set forth in reasonable detail the calculations upon which such Lender
determined such amount and shall be final, conclusive and binding on the
Borrower in the absence of manifest error. 
If any Lender fails to deliver such written statement within 180 days
after the date on which the Lender becomes aware of the event or occurrence
giving rise to such claim, the Borrower shall have no obligation to reimburse,
compensate or indemnify such Lender with respect to any such claim under this
Article 3 for any period more than 180 days before the date on which such
statement is delivered.  Determination of
amounts payable under such Sections in connection with a Eurodollar Loan shall
be calculated as though each Lender funded its Eurodollar Loan through the
purchase of a deposit of the type and maturity corresponding to the deposit
used as a reference in determining the Eurodollar Rate applicable to such Loan,
whether in fact that is the case or not. 
Unless otherwise provided herein, the amount specified in the written
statement of any Lender shall be payable on demand after receipt by the
Borrower of such written statement.  The
obligations of the Borrower under Section 3.01, 3.02, 3.04 and 3.05 shall
survive payment of the Obligations and termination of this Agreement.

 

ARTICLE 4

CONDITIONS PRECEDENT

 

Section
4.01. 
Effectiveness.  This
Agreement shall not become effective unless and until the Borrower has
furnished the following to the Administrative Agent with sufficient copies for
the Lenders and the other conditions set forth below have been satisfied:

 

(a)                        Charter Documents; Good Standing
Certificates.  Copies of the certificate of incorporation of
the Borrower, together with all amendments thereto, both certified by the
appropriate governmental officer in its jurisdiction of incorporation, together
with a good standing certificate issued by the Secretary of State of the
jurisdiction of its incorporation and such other jurisdictions as shall be
requested by the Administrative Agent.

 

33

 

(b)                       By-Laws and Resolutions.  Copies,
certified by the Secretary or Assistant Secretary of the Borrower, of its
by-laws and of its Board of Directors’ resolutions authorizing the execution,
delivery and performance of the Loan Documents.

 

(c)                        Secretary’s Certificate.  An
incumbency certificate, executed by the Secretary or Assistant Secretary of the
Borrower, which shall identify by name and title and bear the signature of the
officers of the Borrower authorized to sign the Loan Documents and to make
borrowings hereunder, upon which certificate the Administrative Agent and the
Lenders shall be entitled to rely until informed of any change in writing by
the Borrower.

 

(d)                       Legal Opinions of Counsel to
Borrower.  Written opinions of (i) internal counsel to
the Borrower and (ii) Sidley Austin LLP, special counsel to the Borrower,
addressed to the Administrative Agent and the Lenders in customary form.

 

(e)                        Notes.  Any
Notes requested by a Lender pursuant to Section 2.14 not less than two (2)
Business Days prior to the Effective Date payable to the order of each such
requesting Lender.

 

(f)                          Loan Documents. 
Executed originals of this Agreement and each of the other Loan
Documents, which shall be in full force and effect, together with all
schedules, exhibits, certificates, instruments, opinions, documents and
financial statements required to be delivered pursuant hereto and thereto.

 

(g)                       Payment of Fees.  The
Lenders and the Agents shall have received all fees and expenses required to be
paid on or prior to the Effective Date (including pursuant to the Commitment
Letter, the Co-Arranger Commitment Letter and the Fee Letter) and, with regard
to expenses, for which invoices have been presented to the Borrower not less
than one Business Day prior to the Effective Date.

 

(h)                       USA PATRIOT Act.  The
Lenders shall have received, to the extent requested by the Lenders at least 5
Business Days prior to the Effective Date, all documentation and other
information required by regulatory authorities under applicable “know your customer” and anti-money laundering rules and
regulations, including the USA PATRIOT Act; provided that
if any such request was received by the Borrower at least 10 Business Days prior
to the Effective Date, the Borrower shall have provided such documents and
other information at least 5 Business Days prior to the Effective Date.

 

Section
4.02.  Conditions
Precedent to the Advances on the Closing Date. 
The Lenders shall not be required to make any Credit
Extension unless the Effective Date shall have occurred and the following
additional conditions precedent have been satisfied prior to the termination of
the Commitments pursuant to Section 2.05:

 

(a)                        Payment of Fees.  The
Lenders and the Agents shall have received all fees and expenses required to be
paid on or prior to the Closing Date (including pursuant to the Commitment
Letter, the Co-Arranger Commitment Letter or the Fee Letter) and, with regard
to

 

34

 

expenses,
for which invoices have been presented to the Borrower not less than one
Business Day prior to the Closing Date.

 

(b)                       Defaults.  There
exists no Default or Unmatured Default and none would result from such Credit
Extension other than a Default or Unmatured Default arising as a result of (i)
any breach of Section 7.01(a) as a result of representations and warranties
(other than the Closing Date Specified Representations) made or deemed made by
the Borrower hereunder or under any other Loan Document or (ii) any breach of
Section 7.01(e) as a result of representations and warranties made or deemed
made by the Borrower under the Term Credit Agreement or the Term Loan
Documents.

 

(c)                        Representations and Warranties.  (i) The
Closing Date Specified Representations shall be true and correct in all
material respects on the Closing Date giving effect to the Transactions; provided that to the extent any of the Closing Date
Specified Representations are qualified by reference to the absence of a
“Material Adverse Effect,” such representation shall, solely for the purpose of
determining satisfaction of this condition precedent, be deemed to be qualified
by reference to the absence of a Borrower Material Adverse Effect and the
absence of a Company Material Adverse Effect and (ii) such of the
representations and warranties made by or on behalf of the Company and its
Subsidiaries in the Merger Agreement as are material to the interests of the
Lenders, but only to the extent that the Borrower has the right to terminate
its obligations under the Merger Agreement as a result of a breach of such
representations in the Merger Agreement, shall be true and correct in all
material respects.

 

(d)                       Borrowing Notice.  A
Borrowing Notice shall have been properly submitted.  Such Borrowing Notice shall constitute a
representation and warranty by the Borrower that the conditions contained in
this Section 4.02 have been satisfied.

 

(e)                        Consummation of Merger.  The
Merger and the other Transactions shall be consummated simultaneously (or
substantially simultaneously or concurrently) (other than the Subsequent Merger
which shall be consummated immediately following the Merger) with the funding
of the Loans in accordance with applicable law and on the terms described
herein and in the Merger Agreement.  The
Merger Agreement shall not have been amended or modified, and no condition
shall have been waived or consent granted, in any respect that is materially
adverse to the Arrangers, the Lenders or the Borrower without the Arrangers’
prior written consent, it being understood and agreed that any change to the
transaction structure or the Merger Consideration shall be deemed materially
adverse to the Lenders.

 

(f)                          Term Loans.  The
Borrower shall have received (or shall substantially simultaneously or
concurrently with the funding of the Loans hereunder receive) not more than
$1,000,000,000 from the borrowings under the Term Credit Agreement.

 

(g)                       Repayment of Indebtedness.  After
giving effect to the Transactions and the other transactions contemplated
hereby, the Borrower and its Subsidiaries shall have outstanding no
Indebtedness of the type referred to in clause (a) or (d) of the definition
thereof, credit facilities or preferred stock other than (i) the Loans and other
extensions of credit under this Agreement,

 

35

 

(ii)
the Senior Notes and/or the loans under the Term Credit Agreement, (iii) the
Indebtedness incurred or outstanding under the Continuing Debt Instruments in
the amounts specified in Schedule 4.02(g), (iv) any Excluded Indebtedness and
(v) other Indebtedness as approved in writing by the Required Lenders.

 

(h)                       Financial Statements.  The
Borrower shall have furnished to the Administrative Agent the unaudited financial
statements of the Borrower and its Subsidiaries and the Company and its
Subsidiaries for each fiscal quarter ended during the period commencing January
1, 2010 (in the case of the Borrower and its Subsidiaries) or October 1, 2009
(in the case of the Company and its Subsidiaries) and ending at least 40 days
prior to the Closing Date (or, in the case of any fiscal quarter that is the
last quarter of a fiscal year, at least 60 days prior to the Closing Date)
(collectively the “Financial Statements”).

 

(i)                           Pro Forma Balance Sheet.  The Borrower shall have furnished to the
Administrative Agent a pro forma
consolidated balance sheet and related pro
forma consolidated statement of income prepared in connection with
the stockholder meetings for the Transactions, and which pro forma financial statements shall meet
the requirements of Regulation S-X under the Securities Act of 1933, as
amended, and all other applicable accounting rules and regulations of the SEC
promulgated thereunder, in each case applicable to a registration statement
under the Securities Act of 1933 on Form S-4 (the “Pro Forma  Financials”);
provided that in the event that Financial Statements of the Borrower and the
Company shall have been delivered pursuant to Section 4.02(h) above after the
date such Pro Forma Financials shall have been mailed to the stockholders of
Borrower and the Company, the Pro Forma Financials shall be updated to reflect
such newer Financial Statements on a basis consistent with the preparation of
the Pro Forma Financials.

 

(j)                           Consolidated Leverage Ratio.  The
Arrangers shall be satisfied that, on the Closing Date and giving pro forma effect to the Transactions (as described in clause
(i) above), the Consolidated Leverage Ratio shall not exceed 3.0 to 1.0.

 

(k)                        Solvency Certificate.  The
Arrangers shall have received a certificate from the chief financial officer of
the Borrower in form and substance reasonably satisfactory to the Arrangers
(or, at the Borrower’s option, a solvency opinion from an independent investment
bank or valuation firm of nationally recognized standing, such opinion to be in
form and substance reasonably satisfactory to the Arrangers) certifying that
the Borrower and its Subsidiaries, on a consolidated basis immediately after
giving effect to the Transactions and the other transactions contemplated
hereby to occur on the Closing Date (including without limitation, the funding
of the Loans hereunder on the Closing Date and the application of the proceeds
thereof), are Solvent.

 

(l)                           Government Approvals.  All
requisite Governmental Authorities and third parties shall have approved or
consented to the execution, delivery and performance of this Agreement and the
Loan Documents to the extent required, all applicable appeal periods shall have
expired and there shall be no litigation, governmental, administrative or
judicial action, actual or

 

36

 

threatened,
that could reasonably be expected to restrain, prevent or impose burdensome
conditions on this Agreement or the Loan Documents.

 

(m)                     Ratings Condition.  As of
the Closing Date, the Borrower Debt Rating shall be BBB- (with no negative
outlook) or higher from S&P and Baa3 (with no negative outlook) or higher
from Moody’s.

 

(n)                       Borrower Material Adverse Change.  Except
(i) as disclosed in the Parent SEC Documents (as defined in the Merger
Agreement as in effect on July 11, 2010) filed with the Securities and Exchange
Commission prior to July 11, 2010 (excluding any risk factor disclosures
contained under the heading “Risk Factors,” any disclosure of risk included in
any “forward-looking statements” disclaimer or any other statements that are
similarly predictive or forward-looking in nature) and (ii) as disclosed in
Section 4.07(a) of the Parent Disclosure Letter (as defined in the Merger
Agreement as in effect on July 11, 2010), since December 31, 2009, there shall
not have occurred any event, change, effect, development, state of facts,
condition, circumstance or occurrence that has had or would reasonably be
expected to have, individually or in the aggregate, a Borrower Material Adverse
Effect (a “Borrower Material Adverse Change”).

 

(o)                       Company Material Adverse
Change.  Except (i) as disclosed in the Company SEC Documents
(as defined in the Merger Agreement as in effect on July 11, 2010) filed with
the Securities and Exchange Commission prior to July 11, 2010 (excluding any
risk factor disclosures contained under the heading “Risk Factors,” any
disclosure of risk included in any “forward-looking statements” disclaimer or
any other statements that are similarly predictive or forward-looking in
nature) and (ii) as disclosed in Section 3.07(a) of the Company Disclosure
Letter (as defined in the Merger Agreement as in effect on July 11, 2010),
since September 30, 2009, there shall not have occurred any event, change,
effect, development, state of facts, condition, circumstance or occurrence that
has had or would reasonably be expected to have, individually or in the
aggregate, a Company Material Adverse Effect (a “Company
Material Adverse Change”).

 

(p)                       Officer’s Certificate. Receipt by each Arranger of a certificate of
an Authorized Officer of the Borrower certifying as to the matters set forth in
paragraphs (b), (c)(i), (e), (f), (g), (j), (l), (m) and (n) above, and to the
best knowledge of the Borrower, as to the matters set forth in paragraphs
(c)(ii) and (o) above.

 

ARTICLE 5

REPRESENTATIONS AND WARRANTIES

 

The
Borrower represents and warrants to the Lenders on the Effective Date (solely
with respect to the Effective Date Specified Representations) and on the
Closing Date that:

 

37

 

Section
5.01.  Corporate
Existence and Standing.  Each
of the Borrower and its Subsidiaries (other than Immaterial Subsidiaries) (a) is
duly organized and validly existing under the laws of its jurisdiction of
organization and (b) is in good standing (to the extent the concept applies to
such entity) under the laws of its jurisdiction of organization and is duly
qualified and in good standing (to the extent the concept applies to such
entity) and is duly authorized to conduct its business in each jurisdiction in
which its business is conducted or proposed to be conducted except where
failure to be in such good standing or so qualified or authorized could not
reasonably be expected to have a Material Adverse Effect.

 

Section
5.02. 
Authorization and Validity.  The
Borrower has all requisite power and authority (corporate and otherwise) and
legal right to execute and deliver each of the Loan Documents to which it is a
party and to perform its obligations thereunder.  The execution and delivery by the Borrower of
the Loan Documents to which it is a party and the performance of its
obligations thereunder have been duly authorized by proper corporate
proceedings and such Loan Documents constitute legal, valid and binding
obligations of the Borrower enforceable against the Borrower in accordance with
their terms, except as enforceability may be limited by bankruptcy, insolvency
or similar laws affecting the enforcement of creditors’ rights generally.

 

Section
5.03.  Compliance
with Laws and Contracts. The Borrower and its Subsidiaries have
complied in all material respects with all applicable statutes, rules,
regulations, orders and restrictions of any domestic or foreign government, or
any instrumentality or agency thereof, having jurisdiction over the conduct of
their respective businesses or the ownership of their respective properties,
except where the failure to so comply could not reasonably be expected to have
a Material Adverse Effect.  Neither
(i)(A) the execution, delivery and performance by the Borrower of the Loan
Documents to which it is a party or (B) the application of the proceeds of the
Loans, nor (ii) compliance with the provisions of the Loan Documents will, or
at the relevant time did, (a) violate any law, rule, regulation (including
Regulation U), order, writ, judgment, injunction, decree or award binding on
the Borrower or any Subsidiary or the Borrower’s or any Subsidiary’s charter,
articles or certificate of incorporation or by-laws, (b) violate the provisions
of or require the approval or consent of any party to any indenture, instrument
or agreement to which the Borrower or any Subsidiary is a party or is subject,
or by which it, or its property, is bound, or conflict with or constitute a
default thereunder, or result in the creation or imposition of any Lien (other
than Liens permitted by the Loan Documents) in, of or on the property of the
Borrower or any Subsidiary pursuant to the terms of any such indenture,
instrument or agreement, or (c) require any consent of the stockholders of any
Person, except for any violation of, or failure to obtain an approval or
consent required under, any such indenture, instrument or agreement that could
not reasonably be expected to have a Material Adverse Effect.

 

Section
5.04. 
Governmental Consents.  No
order, consent, approval, qualification, license, authorization, or validation
of, or filing, recording or registration with, or exemption by, or other action
in respect of, any court, governmental or public body or authority, or any
subdivision thereof, any securities exchange or other Person is or at the
relevant time was required to authorize, or is or at the relevant time was
required in connection with the execution, delivery, consummation or
performance of, or the legality, validity, binding effect or

 

38

 

enforceability of, any of
the Loan Documents or the application of the proceeds of the Loans.  Neither the Borrower nor any Subsidiary is in
default under or in violation of any foreign, federal, state or local law,
rule, regulation, order, writ, judgment, injunction, decree or award binding
upon or applicable to the Borrower or such Subsidiary, in each case the
consequence of which default or violation could reasonably be expected to have
a Material Adverse Effect.

 

Section
5.05.  Financial
Statements.  Each of the
Financial Statements was prepared in accordance with generally accepted accounting
principles and fairly presents the consolidated financial condition and
operations of the Borrower and its Subsidiaries or, to the best of the
Borrower’s knowledge, the Company and its Subsidiaries, as applicable, at such
dates and the consolidated results of their operations for the respective
periods then ended (except, in the case of such unaudited statements, for
normal year-end audit adjustments).

 

Section
5.06.  Material
Adverse Change.  No Material
Adverse Change has occurred.

 

Section
5.07.  Taxes.  The
Borrower and its Subsidiaries have filed or caused to be filed on a timely
basis and in correct form all United States federal, state and other material
tax returns which are required to be filed and have paid all taxes due pursuant
to said returns or pursuant to any assessment received by the Borrower or any
Subsidiary, except such taxes, if any, as are being contested in good faith and
as to which adequate reserves have been provided in accordance with generally
accepted accounting principles and as to which no Lien exists.  As of the date hereof, the United States
income tax returns of the Borrower on a consolidated basis have been audited by
the Internal Revenue Service through its Fiscal Year ending December 31,
2006.  No tax liens have been filed and
no claims are being asserted with respect to any such taxes which could
reasonably be expected to have a Material Adverse Effect.  The charges, accruals and reserves on the
books of the Borrower and its Subsidiaries in respect of any taxes or other
governmental charges are in accordance with generally accepted accounting
principles.

 

Section
5.08.  Litigation
and Contingent Obligations.  There
is no litigation, arbitration, proceeding, inquiry or governmental
investigation (including, without limitation, by the Federal Trade Commission)
pending or, to the knowledge of any of their officers, threatened against or
affecting the Borrower or any Subsidiary or any of their respective Properties
that could reasonably be expected to have a Material Adverse Effect or to
prevent, enjoin or unduly delay the making of any Credit Extensions under this
Agreement, except for Disclosed Claims.

 

Section
5.09. 
ERISA.  Neither the
Borrower nor any other member of the Controlled Group maintains, or is
obligated to contribute to, any Multiemployer Plan or has incurred, or is
reasonably expected to incur, any withdrawal liability to any Multiemployer
Plan.  Each Plan complies in all material
respects with its terms and with all applicable requirements of law and regulations.  Neither the Borrower nor any member of the
Controlled Group has, with respect to any Plan, failed to make any contribution
or pay any amount required under Section 412 of the Code or Section 302 of
ERISA or the terms of such Plan which could reasonably be expected to have a
Material Adverse Effect.  There are no
pending or, to the knowledge of the Borrower, threatened claims, actions,
investigations or lawsuits against any Plan, any fiduciary thereof, or

 

39

 

the Borrower or any member
of the Controlled Group with respect to a Plan which could reasonably be
expected to have a Material Adverse Effect. 
Neither the Borrower nor any member of the Controlled Group has engaged
in any prohibited transaction (as defined in Section 4975 of the Code or
Section 406 of ERISA) in connection with any Plan which would subject such
Person to any material liability.  No
Termination Event has occurred or is reasonably expected to occur with respect
to any Plan which could reasonably be expected to have a Material Adverse
Effect.

 

Section
5.10. 
Defaults.  No Default
or Unmatured Default has occurred and is continuing.

 

Section
5.11.  Regulation
U.  Margin Stock constitutes
less than 25% of those assets of the Borrower and its Subsidiaries which are
subject to any limitation on sale, pledge or other restriction hereunder.  Neither the Borrower nor any Subsidiary is
engaged, directly or indirectly, principally, or as one of its important
activities, in the business of extending, or arranging for the extension of,
credit for the purpose of purchasing or carrying Margin Stock.  No part of the proceeds of any Loan will be
used in a manner which would violate, or result in a violation of, Regulation
U.  Neither the making of any Advance
hereunder nor the use of the proceeds thereof will violate or be inconsistent
with the provisions of Regulation U.

 

Section
5.12.  Investment
Company.  Neither the Borrower
nor any Subsidiary is, or after giving effect to any Advance will be, an “investment
company” or a company “controlled” by an “investment company” within the
meaning of the Investment Company Act of 1940, as amended.

 

Section
5.13.  Ownership
of Properties.  As of the date
of this Agreement, the Borrower and its Subsidiaries have a subsisting
leasehold interest in, or good and marketable title, free of all Liens, other
than those permitted by Section 6.12 or by any of the other Loan Documents, to
all of the properties and assets reflected in the Financial Statements
delivered on or prior to the date hereof as being owned by it, except for
assets sold, transferred or otherwise disposed of in the ordinary course of
business since the date thereof.  The
Borrower and its Subsidiaries own or possess rights to use all licenses,
patents, patent applications, copyrights, service marks, trademarks and trade
names necessary to continue to conduct their business as currently conducted,
and no such license, patent or trademark has been declared invalid, been
limited by order of any court or by agreement or is the subject of any
infringement, interference or similar proceeding or challenge, except for
proceedings and challenges which could not reasonably be expected to have a
Material Adverse Effect.

 

Section
5.14.  Material
Agreements.  Neither the
Borrower nor any Subsidiary is a party to any agreement or instrument or
subject to any charter or other corporate restriction which could reasonably be
expected to have a Material Adverse Effect or which restricts or imposes
conditions upon the ability of any Subsidiary to (a) pay dividends or make
other distributions on its capital stock, (b) make loans or advances to the
Borrower or (c) repay loans or advances from the Borrower.  Neither the Borrower nor any Subsidiary is in
default in the performance, observance or fulfillment of any of the
obligations, covenants or conditions contained in any

 

40

 

agreement to which it is a
party, which default could reasonably be expected to have a Material Adverse Effect.

 

Section
5.15. 
Environmental Laws.  There
are no claims, investigations, litigation, administrative proceedings, notices,
requests for information, whether pending or threatened, or judgments or orders
asserting violations of applicable federal, state and local environmental,
health and safety statutes, regulations, ordinances, codes, rules, orders,
decrees, directives and standards (“Environmental Laws”)
or relating to any toxic or hazardous waste, substance or chemical or any
pollutant, contaminant, chemical or other substance defined or regulated
pursuant to any Environmental Law, including, without limitation, asbestos,
petroleum, crude oil or any fraction thereof (“Hazardous
Materials”) asserted against the Borrower or any of its
Subsidiaries which, in any case, could reasonably be expected to have a
Material Adverse Effect.  Neither the
Borrower nor any Subsidiary has caused or permitted any Hazardous Materials to
be Released, either on or under real property, currently or formerly, legally
or beneficially owned or operated by the Borrower or any Subsidiary or on or
under real property to which the Borrower or any of its Subsidiaries
transported, arranged for the transport or disposal of, or disposed of
Hazardous Materials, which Release could reasonably be expected to have a
Material Adverse Effect.

 

Section
5.16. 
Insurance.  The
Borrower and its Subsidiaries maintain, with financially sound and reputable
insurance companies, insurance on their Property in such amounts and covering
such risks as is consistent with sound business practice.

 

Section
5.17.  Insurance
Licenses.  No material
license, permit or authorization of the Borrower or any Subsidiary to engage in
the business of insurance or insurance-related activities is the subject of a
proceeding for suspension or revocation, except where such suspension or
revocation would not individually or in the aggregate have a Material Adverse
Effect.

 

Section
5.18. 
Disclosure.  None of
the (a) information, exhibits or reports furnished or to be furnished by the
Borrower or any Subsidiary to the Administrative Agent or to any Lender in
connection with the negotiation of the Loan Documents (including for the
avoidance of doubt the Confidential Information Memorandum but excluding any
projections) or (b) representations or warranties of the Borrower or any
Subsidiary contained in this Agreement, the other Loan Documents, or any other
document, certificate or written statement furnished to the Administrative
Agent or the Lenders by or on behalf of the Borrower or any Subsidiary for use
in connection with the transactions contemplated by this Agreement, as the case
may be, when taken together, as of the date of its delivery, contained,
contains or will contain any untrue statement of a material fact or omitted,
omits or will omit to state a material fact necessary in order to make the
statements contained herein or therein not materially misleading in light of
the circumstances in which the same were made. 
The projections that have been or will be made available to the
Administrative Agent or to any Lender by or on behalf of the Borrower or any
Subsidiary have been or will be prepared in good faith based upon accounting
principles consistent with the historical audited financial statements of the
Borrower and the Company (except as otherwise expressly disclosed in such
projections) and upon assumptions that the

 

41

 

Borrower believes to have
been reasonable at the time made and at the time the related projections are
made available to the Administrative Agent or to any Lender (it being
understood that any such projections are subject to significant uncertainties
and contingencies, many of which are beyond the Borrower’s control, that no
assurance can be given that such projections will be realized and that actual
results may differ from such projections and that such differences may be
material).  As of the date hereof, there
is no fact known to the Borrower (other than matters of a general economic
nature) that has had or could reasonably be expected to have a Material Adverse
Effect and that has not been disclosed herein or in such other documents,
certificates and statements furnished to the Lenders for use in connection with
the transactions contemplated by this Agreement.

 

Section
5.19.  Solvency.  The Borrower and its Subsidiaries, on a
consolidated basis immediately after giving effect to the Transactions and the
other transactions contemplated hereby to occur on the Closing Date (including
without limitation, the funding of the Loans hereunder on the Closing Date and
the application of the proceeds thereof), are Solvent.

 

Section
5.20.  Senior
Debt.  The Obligations
hereunder constitute “Senior Debt” (or the equivalent thereof) and “Designated
Senior Debt” (or the equivalent thereof) under documentation governing
subordinated Indebtedness permitted hereunder.

 

Section 5.21.  Foreign Corrupt Practices Act.  To
the Knowledge of the Borrower, (i)(a) as of the date hereof and (b) except to
the extent as could not reasonably be expected to have a Material Adverse
Effect, as of the Closing Date, it is in compliance in all material respects
with the United States Foreign Corrupt Practices Act of 1977 (the “Foreign Corrupt Practices Act”) and
any other United States and foreign Laws concerning corrupting payments, (ii)
except to the extent as could not reasonably be expected to have a Material
Adverse Effect, between January 1, 2008 and the Closing Date and except as
listed on Schedule 5.21 hereto, the Borrower has not been investigated by any
Governmental Entity (as defined in the Merger Agreement) with respect to, or
been given notice by a Governmental Entity of, any violation by the Borrower of
the Foreign Corrupt Practices Act or any other United States or foreign Laws
concerning corrupting payments and (iii) the Borrower and its Subsidiaries have
an operational Foreign Corrupt Practices Act/anticorruption compliance program
that includes, at a minimum, policies, procedures and training intended to
enhance awareness of and compliance by the Borrower or such Subsidiary with the
Foreign Corrupt Practices Act and any other applicable United States or foreign
Laws concerning corrupting payments.

 

ARTICLE 6

COVENANTS

 

So long as any Loan shall
remain unpaid or any Lender shall have any Commitment hereunder, unless the
Required Lenders shall otherwise consent in writing:

 

42

 

Section
6.01.  Financial
Reporting.  The Borrower will
maintain, for itself and its Subsidiaries, a system of accounting established
and administered in accordance with generally accepted accounting principles,
consistently applied, and will furnish to the Lenders:

 

(a)        (i) As
soon as practicable and in any event within ninety (90) days after the close of
each of its Fiscal Years, an unqualified audit report certified by independent
certified public accountants, acceptable to the Lenders, prepared in accordance
with generally accepted accounting principles on a consolidated basis for
itself and its Subsidiaries, including balance sheets as of the end of such
period and related statements of income, retained earnings and cash flows
accompanied by (A) any management letter prepared by said accountants and (B) a
certificate of said accountants that, in the course of their examination
necessary for their certification of the foregoing, they have obtained no
knowledge of any Default or Unmatured Default, or if, in the opinion of such
accountants, any Default or Unmatured Default shall exist, stating the nature
and status thereof.

 

(ii)  If the Closing Date has not occurred, as soon
as practicable upon the same being made available by the Company to the
Borrower, an unqualified audit report for the fiscal year of the Company ending
September 30, 2010 certified by nationally recognized independent certified
accountants, prepared in accordance with generally accepted accounting
principles on a consolidated basis for the Company and its subsidiaries,
including balance sheets as of the end of such period and related statements of
income, retained earnings and cash flows for such period; provided
that the Borrower shall use commercially reasonable efforts to obtain such audit
report from the Company promptly following the due date for delivery thereof in
accordance with the Merger Agreement.

 

(b)        (i) As
soon as practicable and in any event within 45 days after the close of the
first three Fiscal Quarters of each of its Fiscal Years, for itself and its
Subsidiaries, consolidated unaudited balance sheets as at the close of each
such period and consolidated statements of income, retained earnings and cash
flows for the period from the beginning of such Fiscal Year to the end of such
quarter, all certified by its president or chief financial officer.

 

(ii)  If the Closing Date has not occurred, as soon
as practicable upon the same being made available by the Company to the
Borrower, for the Company and its subsidiaries, consolidated unaudited balance
sheets as of the close of any fiscal quarter of the Company ending during the
period beginning on the Effective Date and ending on the Closing Date, and
consolidated statements of income, retained earnings and cash flows for the period
from the beginning of such fiscal year to the end of such fiscal quarter, all
certified by the Company’s president or chief financial officer provided that the Borrower shall use commercially
reasonable efforts to obtain such unaudited balance sheets from the Company
promptly following the due date for delivery thereof in accordance with the
Merger Agreement.

 

(c)        Together
with the financial statements required by clauses (a)(i) and (b)(i) above, a
certificate in substantially the form of Exhibit B hereto signed by the
Borrower’s president or chief financial officer (i) showing the calculations
necessary to determine compliance with 

 

43

 

Section
6.12(k), 6.16(e), 6.17 and 6.19(h), provided that
in the event of any change in generally accepted accounting principles used in
the preparation of such financial statements, the Borrower shall also provide,
if necessary for the determination of compliance with Section 6.17, a statement
of reconciliation conforming such financial statements to Agreement Accounting
Principles, and (ii) stating that no Default or Unmatured Default exists, or if
any Default or Unmatured Default exists, stating the nature and status thereof.

 

(d)        Promptly
upon learning thereof, notice that a Single Employer Plan of the Borrower or
any member of the Controlled Group is in “at risk” status within the meaning of
Section 303 of ERISA or Section 430(i)(4) of the Code, and within 270 days
after the close of each Fiscal Year, a statement of the Funded Target
Attainment Percentage of each Single Employer Plan, certified as correct by an
actuary enrolled under ERISA.

 

(e)        As
soon as possible and in any event within ten (10) days after the Borrower knows
that any Termination Event has occurred with respect to any Plan, a statement,
signed by the chief financial officer of the Borrower, describing said
Termination Event and the action which the Borrower proposes to take with
respect thereto; provided that no such notice
shall be required to be given unless either (i) such Termination Event could
reasonably be expected to result in liabilities of the Borrower in excess of
$25,000,000 or (ii) the occurrence of such Termination Event would trigger a
requirement to deliver notice under Section 6.1(e) of the Existing Credit
Facility or Section 20.7(b) of the Euro Facility.

 

(f)         As
soon as possible and in any event within ten (10) days after the Borrower
learns thereof, notice of the assertion or commencement of any claims, action,
suit or proceeding against or affecting the Borrower or any Subsidiary which
may reasonably be expected to have a Material Adverse Effect.

 

(g)        Promptly
upon learning thereof, notice of any change in the credit rating of the
Borrower’s senior unsecured long term debt by S&P or Moody’s.

 

(h)        Promptly
upon the furnishing thereof to the shareholders of the Borrower, copies of all
financial statements, reports and proxy statements so furnished (or links to
pages on the Borrower’s website where such information may be accessed).

 

(i)         Promptly
upon the filing thereof, copies of all registration statements and annual,
quarterly, monthly or other regular reports which the Borrower or any of its
Subsidiaries files with the Securities and Exchange Commission (or links to
pages on the Borrower’s website where such information may be accessed).

 

(j)         Such
other information (including, without limitation, non financial information and
information required under the USA PATRIOT Act) as the Administrative Agent or
any Lender may from time to time reasonably request.

 

Section
6.02.  Use of
Proceeds.  The Borrower will,
and will cause each Subsidiary to, use the proceeds of the Credit Extensions,
together with the proceeds of the Term Loans and, if 

 

44

 

applicable, the Senior
Notes solely to (a) pay a portion of the Merger Consideration, (b) refinance
certain of the existing Indebtedness of the Company and (c) pay the Transaction
Costs.  The Borrower will not, nor will
it permit any Subsidiary to, use any of the proceeds of the Advances (i) to
purchase or carry any “margin stock” (as defined in Regulation U) or to finance
the acquisition of any Person which has not been approved and recommended by
the board of directors (or functional equivalent thereof) of such Person or
(ii) in violation of the Foreign Corrupt Practices Act and any other United
States and foreign Laws concerning corrupting payments.

 

Section
6.03.  Notice of
Default.  The Borrower will
give prompt notice in writing to the Lenders of the occurrence of (a) any
Default or Unmatured Default and (b) any other event or development, financial
or other, relating specifically to the Borrower or any of its Subsidiaries (and
not of a general economic or political nature) which could reasonably be expected
to have a Material Adverse Effect.

 

Section
6.04.  Conduct of
Business.  The Borrower will,
and will cause each Subsidiary  to, (a)
carry on and conduct its business in substantially the same manner and in
substantially the same fields of enterprise as it is presently conducted, and
will not, and will not permit any of its Subsidiaries to, engage in any
business other than (i) businesses in the same fields of enterprise as now
conducted by the Borrower and its Subsidiaries or the Company and its Subsidiaries
or (ii) businesses that are reasonably related or incidental thereto or that,
in the judgment of the board of directors of the Borrower, are reasonably
expected to materially enhance the other businesses in which the Borrower and
its Subsidiaries are engaged, and (b) do all things necessary to remain duly
organized, validly existing and in good standing in its jurisdiction of
organization and maintain all requisite authority to conduct its business in
each jurisdiction in which its business is conducted, except where failure to
be in such good standing or so qualified or authorized could not reasonably be
expected to have a Material Adverse Effect; provided, however, that nothing in this Section 6.04 shall prohibit
the dissolution or sale, transfer or other disposition of any Subsidiary that
is not otherwise prohibited by this Agreement.

 

Section
6.05. 
Taxes.  The Borrower
will, and will cause each Subsidiary to, timely file complete and correct
United States federal and applicable foreign, state and local tax returns
required by applicable law and pay when due all taxes, assessments and
governmental charges and levies upon it or its income, profits or Property,
except those which are being contested in good faith by appropriate proceedings
and with respect to which adequate reserves have been set aside.

 

Section
6.06. 
Insurance.  The
Borrower will, and will cause each Subsidiary to, maintain with financially
sound and reputable insurance companies insurance on all their Property in such
amounts and covering such risks as is consistent with sound business practice,
and the Borrower will furnish to the Administrative Agent and any Lender upon
request full information as to the insurance carried.

 

45

 

Section
6.07.  Compliance
with Laws.  The Borrower will,
and will cause each Subsidiary to, comply with all laws, rules, regulations,
orders, writs, judgments, injunctions, decrees or awards to which it may be
subject, the failure to comply with which could reasonably be expected to have
a Material Adverse Effect.

 

Section
6.08. 
Maintenance of Properties.  The
Borrower will, and will cause each Subsidiary to, do all things necessary to
maintain, preserve, protect and keep its Property in good repair, working order
and condition, and make all necessary and proper repairs, renewals and
replacements so that its business carried on in connection therewith may be
properly conducted at all times.

 

Section
6.09. 
Inspection.  The
Borrower will, and will cause each Subsidiary to, permit the Administrative
Agent and the Lenders, by their respective representatives and agents, to
inspect any of the Property, corporate books and financial records of the
Borrower and each Subsidiary, to examine and make copies of the books of
accounts and other financial records of the Borrower and each Subsidiary, and
to discuss the affairs, finances and accounts of the Borrower and each
Subsidiary with, and to be advised as to the same by, their respective officers
at such reasonable times and intervals as the Lenders may designate.  The Borrower will keep or cause to be kept,
and cause each Subsidiary to keep or cause to be kept, appropriate records and
books of account in which complete entries are to be made reflecting its and
their business and financial transactions, such entries to be made in
accordance with generally accepted accounting principles consistently applied.

 

Section
6.10.  Capital
Stock and Dividends.  The
Borrower will not declare or pay any dividends or make any distributions on its
capital stock (other than dividends payable in its own capital stock) or
redeem, repurchase or otherwise acquire or retire any of its capital stock or
any options or other rights in respect thereof at any time outstanding except
(i) in connection with the Transactions, (ii) the Borrower may declare and pay
ordinary cash dividends with respect to its common stock that is economically
equivalent (on a per share basis) to the ordinary cash dividends historically
paid by the Borrower plus any increase in such dividend that is consistent with
past practice and (iii) pursuant to any director or employee stock ownership
plan or any other employee compensation plan.

 

Section
6.11. 
Merger.  The Borrower
will not, nor will it permit any Subsidiary to, merge or consolidate with or
into any other Person, except that (a) a wholly-owned Subsidiary may merge into
the Borrower or any wholly-owned Subsidiary of the Borrower, (b) the Borrower
or any Subsidiary may merge or consolidate with any other Person so long as, in
the case of a merger or consolidation to which the Borrower is a party, the
Borrower is the surviving corporation, and, in the case of a merger or
consolidation to which a Subsidiary is a party and to which the Borrower is not
a party, the surviving corporation is a Subsidiary, and in any such case, prior
to and after giving effect to such merger or consolidation, no Default or
Unmatured Default shall exist and (c) any Subsidiary may enter into a merger or
consolidation as a means of effecting a disposition or acquisition which would
not result in a Default or Unmatured Default.

 

46

 

Section
6.12. 
Liens.  The Borrower
will not, nor will it permit any Subsidiary to, create, incur, or suffer to
exist any Lien in, of or on the Property of the Borrower or any of its
Subsidiaries, except:

 

(a)        Liens
for taxes, assessments or governmental charges or levies on its Property if the
same shall not at the time be delinquent or thereafter can be paid without
penalty, or are being contested in good faith and by appropriate proceedings
and for which adequate reserves in accordance with generally accepted
principles of accounting shall have been set aside on its books;

 

(b)        Liens
imposed by law, such as carriers’, warehousemen’s and mechanics’ liens and
other similar liens arising in the ordinary course of business which secure the
payment of obligations not more than sixty (60) days past due or which are
being contested in good faith by appropriate proceedings and for which adequate
reserves shall have been set aside on its books;

 

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

 

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

 

(e)        Banker’s
liens, rights of set-off or similar rights in favor of a depository institution
with respect to deposit accounts maintained with a depository institution in
the ordinary course of business and securing obligations with respect to the
maintenance of such accounts (and in no event securing any Indebtedness or
other obligations);

 

(f)         Any
Lien arising by operation of law in the ordinary course of business in respect
of any obligation which is less than sixty (60) days overdue or which is being
contested in good faith and by appropriate means and for which adequate
reserves have been made;

 

(g)        Liens
created by any of the Borrower or its Subsidiaries over deposits and
investments in the ordinary course of such Person’s insurance and reinsurance
business to comply with the requirements of any regulatory body of insurance or
insurance brokerage business;

 

(h)        Any
Liens arising for the benefit of a credit institution pursuant to Clause 24
General Banking Conditions of the Netherlands Bankers Association (Algemene Voorwaarden van de Nederlandse Vereniging van Banken)
in respect of any bank account held with a credit institution in the
Netherlands;

 

(i)         Liens
over and limited to the balance of credit balances on bank accounts of the
Borrower and its Subsidiaries created in order to facilitate the operation of
such bank accounts 

 

47

 

and
other bank accounts of the Borrower and its Subsidiaries on a net balance basis
with credit balances and debit balances on the various accounts being netted
off for interest purposes;

 

(j)         Liens,
if any, arising in connection with a Cananwill Securitization; and

 

(k)       Other Liens
securing an aggregate principal amount of obligations at no time exceeding an
amount equal to ten percent (10%) of Consolidated Net Worth at such time.

 

Section
6.13. 
Affiliates.  The
Borrower will not, and will not permit any Subsidiary to, enter into any
transaction (including, without limitation, the purchase or sale of any
Property or service) with, or make any payment or transfer to, any Affiliate
except (a) for transactions between the Borrower and any Wholly Owned
Subsidiary of the Borrower or between Wholly Owned Subsidiaries of the Borrower
or (b) in the ordinary course of business and pursuant to the reasonable
requirements of the Borrower’s or such Subsidiary’s business and upon fair and
reasonable terms no less favorable to the Borrower or such Subsidiary than the
Borrower or such Subsidiary would obtain in a comparable arm’s length
transaction.

 

Section
6.14.  Change in
Fiscal Year.  The Borrower
shall not change its Fiscal Year to end on any date other than December 31 of
each year.

 

Section
6.15. 
Restrictive Agreements.  The
Borrower (a) shall not, nor shall it permit any Subsidiary to, enter into any
indenture, agreement, instrument or other arrangement which, directly or
indirectly prohibits, or has the effect of prohibiting, or imposes materially
adverse conditions upon, the ability of any Subsidiary to (i) pay dividends or
make other distributions on its capital stock to the Borrower or any other
Subsidiary, (ii) make loans or advances to the Borrower or any other Subsidiary
or (iii) repay loans or advances from the Borrower or any other Subsidiary,
except (A) restrictions and limitations imposed by Law or by the Loan
Documents, (B) customary restrictions and limitations contained in agreements
relating to the sale of a Subsidiary or its assets that is permitted hereunder,
(C) restrictions and conditions imposed by agreements relating to Indebtedness
of any Subsidiary in existence at the time such Subsidiary becomes a Subsidiary
not created in contemplation of or in connection with such Subsidiary becoming
a Subsidiary (or any refinancing or amendment thereof that does not result in a
materially more restrictive restriction or condition); provided that
such restrictions and conditions apply only to such Subsidiary and its
respective Subsidiaries, (D) restrictions set forth in the Term Credit
Agreement, (E) in the case of any Subsidiary that is not a wholly-owned
Subsidiary, customary restrictions and conditions imposed by its organizational
documents or any joint venture or similar agreement, (F) solely for the first
60 days following the Closing Date, restrictions set forth in any indenture,
agreement, instrument or other arrangement to which the Company or any of its
Subsidiaries is party as of the date hereof and (G) any other restrictions that
could not reasonably be expected to impair the Borrower’s ability to repay the
Obligations as and when due and (b) shall comply with Section 6.15 of the
Existing Credit Facility and Section 22.16 of the Euro Facility, in each case
as if references therein to the “Obligations”, were references to the
Obligations, references to the “Loan Documents” or the “Finance Documents” 

 

48

 

were references to the Loan
Documents and references to the “Advances” or the “Loans” were references to
the Advances.

 

Section
6.16. 
Dispositions.  The
Borrower will not make any Disposition or permit any Subsidiary to make any
Disposition, except:

 

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

 

(b)        Dispositions
of Property to the Borrower or any Subsidiary of the Borrower;

 

(c)        Dispositions
by Subsidiaries primarily engaged in insurance underwriting or related
activities from their investment portfolios in the ordinary course of business;

 

(d)        Dispositions
of investments in cash equivalents in the usual course of treasury business;
and

 

(e)        Any
other Disposition of Property which represents no more than 25% of the
Consolidated assets of the Borrower and its Subsidiaries, as would be shown in
the Consolidated financial statements of the Borrower and its Subsidiaries as
at the end of the quarter immediately preceding the date on which such
determination is made, to any other Person(s) in any Fiscal Year.

 

Section
6.17.  Financial
Covenants.

 

(a)        Consolidated Adjusted EBITDA to Consolidated Interest Expense.  The Borrower will maintain as of the last day
of each Measurement Period a ratio of Consolidated Adjusted EBITDA to
Consolidated Interest Expense of not less than 4.0 to 1.0.

 

(b)        Consolidated Leverage Ratio.  The
Borrower will maintain as of the last day of each Measurement Period a
Consolidated Leverage Ratio of not more than 3.0 to 1.0.

 

Section
6.18. 
ERISA.  The Borrower
will (a) fulfill, and cause each member of the Controlled Group to fulfill, its
obligations under the minimum funding standards of ERISA and the Code with
respect to each Plan, (b) comply, and cause each member of the Controlled Group
to comply, with all applicable provisions of ERISA and the Code with respect to
each Plan, except where such failure or noncompliance individually or in the
aggregate would not have a Material Adverse Effect and (c) not, and not permit
any member of the Controlled Group to, (i) seek a waiver of the minimum funding
standards under ERISA, (ii) terminate or withdraw from any Plan or (iii) take
any other action with respect to any Plan which would reasonably be expected to
entitle the PBGC to terminate, impose liability in respect of, or cause a
trustee to be appointed to administer, any Plan, unless the actions or events
described in the foregoing clauses (i), (ii) or (iii) individually or in the
aggregate would not have a Material Adverse Effect.

 

Section
6.19. 
Indebtedness.  The
Borrower will not permit any Subsidiary to create, incur, assume or suffer to
exist any Indebtedness, except:

 

49

 

(a)        Indebtedness
under the Loan Documents;

 

(b)        Indebtedness
under the Euro Facility, and any renewal and refinancing thereof, provided (i)
that the committed amount thereof is not increased to an aggregate amount
greater than the lesser of (A) €850,000,000 and (B) the amount permitted under
Section 6.19(b) of the Existing Credit Agreement and (ii) no other Subsidiary
(other than a Subsidiary that becomes a borrower thereunder) becomes obligated
in respect thereof;

 

(c)        Indebtedness
owed to the Borrower or another Subsidiary of the Borrower;

 

(d)        Indebtedness
under performance bonds, surety bonds or letter of credit obligations to
provide security under worker’s compensation laws, unemployment insurance, old
age pensions, or other social security or retirement benefits, or similar
legislation, and bank overdrafts, in each case, incurred in the ordinary course
of business;

 

(e)        Indebtedness
of any Subsidiary existing as of the date hereof (other than Indebtedness
described in clause (a) or (b) above), and any renewal and refinancing thereof
(including any other Subsidiary becoming a primary obligor in respect thereof);
provided that the principal amount
thereof is not increased;

 

(f)         Indebtedness
under Hedging Agreements entered into in the ordinary course of business and
not for speculative purposes;

 

(g)        Indebtedness
(to the extent such Indebtedness either (i) arises under clause (i) of the
definition of “Indebtedness” or (ii) would not be reflected as indebtedness on
a balance sheet of the Borrower and its Subsidiaries, calculated on a
consolidated basis) under any Cananwill Securitization; and

 

(h)        Other
Indebtedness in an aggregate amount outstanding at any time not to exceed
€1,500,000,000 minus the amount of Indebtedness
then outstanding under the Euro Facility and any renewal or refinancing
thereof.

 

Section
6.20. 
Acquisitions.  Other
than the Merger and the Subsequent Merger, the Borrower shall not, nor shall it
permit any of its Subsidiaries to, (a) acquire (by merger, joint venture or
otherwise) all or a majority of the Equity Interests (with ordinary voting
power), or all or substantially all of the assets, or any property or assets
constituting a business unit, of any other Person or (b) make investments in
any other Person (other the Borrower and its Subsidiaries) by acquiring less
than a majority of the Equity Interests (with ordinary voting power) of such
Person (excluding any investments made in connection with the Borrower’s and any
Subsidiary’s normal cash management activities) if the consideration paid in
respect of all such acquisitions or investments under this Section 6.20 since
the Effective Date would exceed $300,000,000 in the aggregate; provided that to the extent any acquisition or investment
shall include consideration of which all or any portion is Equity Interests of
the Borrower, such portion constituting Equity Interests of the Borrower shall
not count towards such $300,000,000 cap.

 

50

 

ARTICLE 7

DEFAULTS

 

Section
7.01. 
Defaults.  The
occurrence of any one or more of the following events shall constitute a
Default:

 

(a)        Any
representation or warranty made or deemed made by or on behalf of the Borrower
or any of its Subsidiaries to the Lenders or the Administrative Agent under or
in connection with this Agreement, any other Loan Document, any Credit
Extension, or any certificate or information delivered in connection with this
Agreement or any other Loan Document shall be false in any material respect on
the date as of which made or deemed made;

 

(b)        Nonpayment
of any principal of any Loan when due or nonpayment of any interest upon any
Loan or of any fee or obligation under any of the Loan Documents within three
(3) Business Days after the same becomes due;

 

(c)        The
breach by the Borrower of any of the terms or provisions of Section 6.02,
6.03(a) or Section 6.10 through 6.20;

 

(d)        The
breach by the Borrower (other than a breach which constitutes a Default under
clauses (a), (b) or (c) of this Section 7.01) of any of the terms or provisions
of this Agreement which is not remedied within twenty (20) days after written
notice from the Administrative Agent or any Lender;

 

(e)        The
occurrence of a Default (as defined in the Term Credit Agreement); or the
failure of the Borrower or any of its Subsidiaries to pay any Indebtedness
aggregating in excess of $25,000,000 when due; or the default by the Borrower
or any of its Subsidiaries in the performance of any term, provision or condition
contained in any agreement or agreements under which any such Indebtedness was
created or is governed, or the occurrence of any other event or existence of
any other condition, the effect of any of which is to cause such Indebtedness
to become due prior to its stated maturity; or any such Indebtedness of the
Borrower or any of its Subsidiaries shall be declared to be due and payable or
required to be prepaid (other than by a regularly scheduled payment) prior to
the stated maturity thereof.

 

(f)         The
Borrower or any of its Subsidiaries (other than Immaterial Subsidiaries) shall
(i) have an order for relief entered with respect to it under the Federal
bankruptcy laws as now or hereafter in effect, (ii) make an assignment for the
benefit of creditors, (iii) apply for, seek, consent to, or acquiesce in, the
appointment of a receiver, custodian, trustee, examiner, liquidator or similar
official for it or any Substantial Portion of its Property, (iv) institute any
proceeding seeking an order for relief under the Federal bankruptcy laws as now
or hereafter in effect or seeking to adjudicate it a bankrupt or insolvent, or
seeking dissolution, winding-up, liquidation, reorganization, arrangement,
adjustment or composition of it or its debts under any law relating to
bankruptcy, insolvency or reorganization or relief of debtors or fail to file
an answer or other pleading denying the material allegations of any such
proceeding filed against it, (v) take any corporate action to authorize or
effect any of the foregoing actions set forth in this Section 

 

51

 

7.01(f),
(vi) fail to contest in good faith any appointment or proceeding described in
Section 7.01(g) or (vii) become unable to pay, not pay, or admit in writing its
inability to pay, its debts generally as they become due.

 

(g)        Without
the application, approval or consent of the Borrower or any of its
Subsidiaries, a receiver, trustee, examiner, liquidator or similar official
shall be appointed for the Borrower or any of its Subsidiaries or any
Substantial Portion of its Property or a proceeding described in Section
7.01(f)(iv) shall be instituted against the Borrower or any of its Subsidiaries
and such appointment continues undischarged or such proceeding continues undismissed
or unstayed for a period of sixty (60) consecutive days.

 

(h)        Any
court, government or governmental agency shall condemn, seize or otherwise
appropriate, or take custody or control of (each, a “Condemnation”),
all or any portion of the Property of the Borrower and its Subsidiaries which,
when taken together with all other Property of the Borrower and its
Subsidiaries so condemned, seized, appropriated, or taken custody or control
of, during the twelve month period ending with the month in which any such
Condemnation occurs, constitutes a Substantial Portion.

 

(i)         The
Borrower or any of its Subsidiaries shall fail within thirty (30) days to pay,
bond or otherwise discharge any judgment or order for the payment of money in
excess of $25,000,000 (or multiple judgments or orders for the payment of an
aggregate amount in excess of $50,000,000), which is not stayed on appeal or
otherwise being appropriately contested in good faith and as to which no
enforcement actions have been commenced.

 

(j)         Any
Change in Control shall occur.

 

(k)        Any
Termination Event shall occur in connection with any Plan which could
reasonably be expected to have a Material Adverse Effect.

 

ARTICLE 8

ACCELERATION, WAIVERS, AMENDMENTS AND REMEDIES

 

Section
8.01. 
Acceleration.

 

(a)        If any
Default described in Section 7.01(f) or 7.01(g) occurs with respect to the
Borrower, the obligations of the Lenders to make Loans hereunder shall
automatically terminate and the Obligations shall immediately become due and
payable without any election or action on the part of the Administrative Agent
or any Lender.  If any other Default
occurs, the Required Lenders (or the Administrative Agent with the consent or
upon the instruction of the Required Lenders) may terminate or suspend the
obligations of the Lenders to make Loans hereunder, or declare the Obligations
to be due and payable, or both, whereupon the Obligations shall become
immediately due and payable, without presentment, demand, protest or notice of
any kind, all of which the Borrower hereby expressly waives.

 

52

 

(b)        If,
within ten (10) Business Days after (i) acceleration of the maturity of the
Obligations or (ii) termination of the obligations of the Lenders to make Loans
hereunder as a result of any Default (other than any Default as described in
Section 7.01(f) or 7.01(g) with respect to the Borrower) and before any
judgment or decree for the payment of the Obligations due shall have been
obtained or entered, the Required Lenders, in their sole discretion, shall so
direct the Administrative Agent, then the Administrative Agent shall, by notice
to the Borrower, rescind and annul such acceleration and/or termination.

 

Section
8.02. 
Amendments.  Subject to
the provisions of this Article 8, the Required Lenders (or the Administrative
Agent with the consent in writing of the Required Lenders) and the Borrower may
enter into agreements supplemental hereto for the purpose of adding or
modifying any provisions to the Loan Documents or changing in any manner the
rights of the Lenders or the Borrower hereunder or thereunder or waiving any
Default hereunder or thereunder; provided, however, that no such supplemental agreement shall, without
the consent of each Lender directly affected thereby:

 

(a)        Extend
the Maturity Date, or the date for any scheduled payment of principal
hereunder, compromise or forgive the principal amount of any Loan, or reduce
the rate of interest or compromise or forgive payment of interest on any Loan,
or reduce the amount of, or compromise or forgive payment of, any fee payable
hereunder;

 

(b)        Reduce
the percentage specified in the definition of Required Lenders;

 

(c)        Increase
the amount of the Commitment of any Lender hereunder;

 

(d)        Amend
this Section 8.02;

 

(e)        Permit
any assignment by the Borrower of its Obligations or its rights hereunder;

 

(f)         Postpone
the date fixed for any payment of principal of or interest on any Loan or the
date fixed for any payment of fees or other amounts due hereunder; or

 

(g)        Change
any provision hereof in a manner that would alter the pro rata
funding of Loans required by Section 2.03 or the pro rata
sharing of payments required by Section 2.13 or Section 11.02.

 

Notwithstanding any
provision herein to the contrary, this Agreement may be amended with the
written consent of the Required Lenders, the Administrative Agent and the
Borrower (i) to add one or more additional term loan facilities to this
Agreement and to permit the extensions of credit and all related obligations
and liabilities arising in connection therewith from time to time outstanding
to share ratably in the benefits of this Agreement and the other Loan Documents
with the obligations and liabilities from time to time outstanding in respect
of the existing facilities hereunder, and (ii) in connection with the
foregoing, to permit, as deemed appropriate by the Administrative Agent and
approved by the Required Lenders, the Lenders providing such additional credit
facilities to participate in any required vote or action required to 

 

53

 

be approved by the Required
Lenders or by any other number, percentage or class of Lenders hereunder.

 

No amendment of any
provision of this Agreement relating to the Administrative Agent shall be
effective without the written consent of the Administrative Agent.  The Administrative Agent may waive payment of
the fee required under Section 12.03(b) without obtaining the consent of any
other party to this Agreement.

 

Section
8.03. 
Preservation of Rights.  No
delay or omission of the Lenders or the Administrative Agent to exercise any
right under the Loan Documents shall impair such right or be construed to be a
waiver of any Default or Unmatured Default or an acquiescence therein, and the
making of a Credit Extension notwithstanding the existence of a Default or
Unmatured Default or the inability of the Borrower to satisfy the conditions
precedent to such Credit Extension shall not constitute any waiver or
acquiescence.  Any single or partial
exercise of any such right shall not preclude other or further exercise thereof
or the exercise of any other right, and no waiver, amendment or other variation
of the terms, conditions or provisions of the Loan Documents whatsoever shall
be valid unless in writing signed by the Lenders required pursuant to Section
8.02, and then only to the extent in such writing specifically set forth.  All remedies contained in the Loan Documents
or by law afforded shall be cumulative and all shall be available to the
Administrative Agent and the Lenders until the Obligations have been paid in
full.

 

ARTICLE 9

GENERAL PROVISIONS

 

Section
9.01.  Survival
of Representations.  All
representations and warranties of the Borrower contained in this Agreement or
of the Borrower or any Subsidiary contained in any Loan Document shall survive
the making of the Credit Extensions herein contemplated.

 

Section
9.02. 
Governmental Regulation.  Anything
contained in this Agreement to the contrary notwithstanding, no Lender shall be
obligated to extend credit to the Borrower in violation of any limitation or
prohibition provided by any applicable statute or regulation.

 

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

 

Section
9.04.  Entire
Agreement.  The Loan Documents
embody the entire agreement and understanding among the Borrower, the
Administrative Agent and the Lenders and supersede all prior agreements and
understandings among the Borrower, the Administrative Agent and the Lenders
relating to the subject matter thereof other than the Fee Letter, the
Commitment Letter and the Co-Arranger Commitment Letter.

 

54

 

Section
9.05.  Several
Obligations; Benefits of this Agreement. 
The respective obligations of the Lenders hereunder are
several and not joint and no Lender shall be the partner or agent of any other
(except to the extent to which the Administrative Agent is authorized to act as
such).  The failure of any Lender to
perform any of its obligations hereunder shall not relieve any other Lender
from any of its obligations hereunder.  This
Agreement shall not be construed so as to confer any right or benefit upon any
Person other than the parties to this Agreement, the Indemnified Persons and
their respective successors and assigns; provided, however, that the parties hereto expressly agree that each
of the Arrangers shall enjoy the benefits of the provisions of Section 9.06,
9.10 and 10.08 to the extent specifically set forth therein and shall have the
right to enforce such provisions on its own behalf and in its own name to the
same extent as if it were a party to this Agreement.

 

Section
9.06.  Expenses;
Indemnification.

 

(a)        The
Borrower agrees to pay all (i) reasonable out-of-pocket expenses incurred by
the Administrative Agent and the Arrangers in connection with the syndication
of the Loans and the preparation and administration of this Agreement and the
other Loan Documents or in connection with any amendments, modifications or
waivers of the provisions hereof or thereof (whether or not the transactions
hereby or thereby contemplated shall be consummated) or (ii) expenses incurred
by the Administrative Agent, any Arranger, any Co-Arranger or any Lender in
connection with the enforcement or protection of its rights in connection with
this Agreement and the other Loan Documents or in connection with the Loans
made hereunder, including the fees, charges and disbursements of counsel for
the Administrative Agent, the Arrangers, the Co-Arrangers and the Lenders; provided that in the case of clause (i), Borrower shall only
be required to pay the fees, charges and disbursement for one counsel for all
such Persons (and, if reasonably necessary, of one regulatory counsel and one
local counsel in any relevant jurisdiction for all such Persons and additional
counsel if, in the opinion of any such Person, representation of all such
Persons by one counsel would be inappropriate due to the existence of an actual
or potential conflict of interest).

 

(b)        The
Borrower agrees to indemnify the Administrative Agent, each Agent, each
Arranger, each Co-Arranger, each Lender and each Related Party of any of the
foregoing Persons (each such Person being called an “Indemnified
Person”) against, and to hold each Indemnified Person harmless
from, any and all losses, claims, damages, liabilities and related expenses,
including charges, disbursements and fees of counsel, incurred by or asserted
against any Indemnified Person arising out of, in any way connected with, or as
a result of (i) the execution or delivery of this Agreement or any other Loan
Document or any agreement or instrument contemplated thereby, the performance
by the parties thereto of their respective obligations thereunder or the
consummation of the Transactions and the other transactions contemplated
thereby (including the syndication of the Loans), (ii) the use of the proceeds
of the Loans, (iii) any claim, litigation, investigation or proceeding relating
to any of the foregoing, whether or not any Indemnified Person is a party
thereto (and regardless of whether such matter is initiated by a third party or
by the Borrower or any Subsidiary or any of their respective Affiliates), or
(iv) any actual or alleged presence or Release of Hazardous Materials on any
property currently or 

 

55

 

formerly
owned or operated by the Borrower or any of the Subsidiaries, or any
Environmental Liability related in any way to the Borrower or the Subsidiaries;
provided that such indemnity shall not,
as to any Indemnified Person, be available to the extent that such losses,
claims, damages, liabilities or related expenses (x) are found in a final, non-appealable
judgment of a court of competent jurisdiction to have resulted from (A) the
willful misconduct or gross negligence of such Indemnified Person or (B) a
material breach in bad faith by the relevant Indemnified Person of the express
contractual obligations of such Indemnified Person under this Agreement or (y)
except with respect to clause (iv) of this Section 9.06(b), arise out of or in
connection with any claim, litigation, investigation or proceeding that does
not involve an act or omission of the Borrower or any of its Affiliates and
that is brought by an Indemnified Person against any other Indemnified Person
(excluding any claim brought against any Arranger, Co-Arranger or Agent in
their capacity as such).  For purposes
hereof, “Environmental Liability”
means all liabilities, obligations, damages, losses, claims, actions, suits,
judgments, orders, fines, penalties, fees, expenses and costs (including
administrative oversight costs, natural resource damages and remediation
costs), whether contingent or otherwise, arising out of or relating to (a)
compliance or non-compliance with any Environmental Law, (b) the generation,
use, handling, transportation, storage, treatment or disposal of any Hazardous
Materials, (c) exposure to any Hazardous Materials, (d) the Release of any
Hazardous Materials or (e) any contract, agreement or other consensual
arrangement pursuant to which liability is assumed or imposed with respect to
any of the foregoing.

 

(c)        To the
extent that the Borrower fails to pay any amount required to be paid by it to
the Administrative Agent under paragraph (a) or (b) of this Section, each
Lender severally agrees to pay to the Administrative Agent such Lender’s pro rata share (determined as of the time that the
applicable unreimbursed expense or indemnity payment is sought) of such unpaid
amount; provided that the unreimbursed expense
or indemnified loss, claim, damage, liability or related expense, as the case
may be, was incurred by or asserted against the Administrative Agent in its
capacity as such.

 

(d)        To the
extent permitted by applicable law, the Borrower shall not assert, and hereby
waives, any claim against any Indemnified Person, on any theory of liability,
for special, indirect, consequential or punitive damages (as opposed to direct
or actual damages) arising out of, in connection with, or as a result of, this
Agreement or any agreement or instrument contemplated hereby, the Transactions,
any Loan or the use of the proceeds thereof.

 

(e)        The
provisions of this Section 9.06 shall remain operative and in full force and
effect regardless of the expiration of the term of this Agreement, the
consummation of the transactions contemplated hereby, the repayment of any of
the Loans, the expiration of the Commitments, the invalidity or
unenforceability of any term or provision of this Agreement or any other Loan
Document, or any investigation made by or on behalf of the Administrative
Agent.  All amounts due under this
Section 9.06 shall be payable within fifteen (15) Business Days of the
Borrower’s receipt of written demand therefor.

 

56

 

Section
9.07.  Numbers of
Documents.  All statements,
notices, closing documents, and requests hereunder shall be furnished to the
Administrative Agent with sufficient counterparts so that the Administrative
Agent may furnish one to each of the Lenders.

 

Section
9.08. 
Accounting.  Except as
provided to the contrary herein, all accounting terms used herein shall be
interpreted and all accounting determinations hereunder shall be made in
accordance with Agreement Accounting Principles.

 

Section
9.09. 
Severability of Provisions.  Any
provision in any Loan Document that is held to be inoperative, unenforceable,
or invalid in any jurisdiction shall, as to that jurisdiction, be inoperative,
unenforceable, or invalid without affecting the remaining provisions in that
jurisdiction or the operation, enforceability, or validity of that provision in
any other jurisdiction, and to this end the provisions of all Loan Documents
are declared to be severable.

 

Section
9.10. 
Nonliability of Lenders.  The
relationship between the Borrower on the one hand and the Lenders and the
Administrative Agent on the other hand shall be solely that of borrower and
lender.  Neither the Administrative
Agent, the Arrangers, the Co-Arrangers nor any Lender shall have any fiduciary
responsibilities to the Borrower. 
Neither the Administrative Agent, the Arrangers, the Co-Arrangers nor
any Lender undertakes any responsibility to the Borrower to review or inform
the Borrower of any matter in connection with any phase of the Borrower’s
business or operations.  Neither the
Administrative Agent, the Arrangers, the Co-Arrangers nor any Lender shall have
any liability with respect to, and the Borrower hereby waives, releases and
agrees not to sue for, any special, indirect, consequential or punitive damages
suffered by the Borrower in connection with, arising out of, or in any way
related to the Loan Documents or the transactions contemplated thereby.

 

Section
9.11. 
Confidentiality.  Each
of the Administrative Agent and the Lenders agrees to maintain the
confidentiality of the Information (as defined below), except that Information
may be disclosed (a) to its Affiliates and to its and its Affiliates’
respective managers, administrators, trustees, partners, directors, officers,
employees, agents, advisors and other representatives, and third party
settlement providers (it being understood that the Persons to whom such
disclosure is made will be informed of the confidential nature of such
Information and instructed to keep such Information confidential), (b) to the
extent requested by any regulatory authority purporting to have jurisdiction
over it or its Affiliates (including any self-regulatory authority, such as the
National Association of Insurance Commissioners), (c) to the extent required by
applicable laws or regulations or by any subpoena or similar legal process, (d)
to any other party hereto, (e) in connection with the exercise of any remedies hereunder
or under any Note or any action or proceeding relating to this Agreement or any
Note or the enforcement of rights hereunder or thereunder, (f) subject to an
agreement containing provisions no less restrictive than those of this Section,
to (i) any assignee of or participant in, or any prospective assignee of or
participant in, any of its rights or obligations under this Agreement, (ii) any
actual or prospective party (or its managers, administrators, trustees,
partners, directors, officers, employees, agents, advisors and other
representatives) to any swap, derivative or other transaction under which
payments are to be made by reference to the Borrower and its 

 

57

 

obligations, this Agreement
or payments hereunder, (iii) any rating agency, or (iv) the CUSIP Service
Bureau or any similar organization, (g) with the consent of the Borrower or (h)
to the extent such Information (x) becomes publicly available other than as a
result of a breach of this Section or (y) becomes available to the
Administrative Agent, any Lender or any of their respective Affiliates on a
nonconfidential basis from a source other than the Borrower.

 

For purposes of this
Section, “Information” means all
information received from the Borrower or any of its Subsidiaries relating to
the Borrower or any of its Subsidiaries or any of their respective businesses,
other than any such information that is available to the Administrative Agent
or any Lender on a non-confidential basis prior to disclosure by the Borrower
or any of its Subsidiaries.  Any Person
required to maintain the confidentiality of Information as provided in this
Section shall be considered to have complied with its obligation to do so if
such Person has exercised the same degree of care to maintain the
confidentiality of such Information as such Person would accord to its own
confidential information.

 

Without limiting Section
9.04, the Borrower agrees that the terms of this Section 9.11 shall set forth
the entire agreement between the Borrower and each Lender (including the
Administrative Agent) with respect to any confidential information previously
or hereafter received by such Lender in connection with this Agreement, and
this Section 9.11 shall supersede any and all prior confidentiality agreements
entered into by such Lender with respect to such confidential information.

 

Section
9.12. 
Disclosure.  The
Borrower and each Lender hereby acknowledge and agree that the Administrative
Agent, the Arrangers, the Co-Arrangers and/or their Affiliates from time to
time may hold investments in, make other loans to or have other relationships
with the Borrower and its Affiliates.

 

Section
9.13.  USA
PATRIOT ACT NOTIFICATION.  Each
Lender hereby notifies the Borrower that pursuant to the requirements of the
USA PATRIOT ACT, it is required to obtain, verify and record information that
identifies the Borrower, which information includes the name and address of the
Borrower and other information that will allow such Lender to identify the
Borrower in accordance with the USA PATRIOT ACT.  The Borrower shall provide such information
promptly upon the request of a Lender.

 

ARTICLE 10

THE ADMINISTRATIVE AGENT

 

Section
10.01.  Authorization
and Authority.  Each Lender
hereby irrevocably appoints Credit Suisse AG to act on its behalf as the
Administrative Agent hereunder and under the other Loan Documents and
authorizes the Administrative Agent to take such actions on its behalf and to
exercise such powers as are delegated to the Administrative Agent by the terms
hereof or thereof, together with such actions and powers as are reasonably
incidental thereto.  Other than Section
10.06, the provisions of this Article are solely for the benefit of the
Administrative Agent 

 

58

 

and the Lenders, and the
Borrower shall have no rights as a third party beneficiary of any of such
provisions.

 

Section
10.02.  Administrative
Agent Individually. (a) The Person serving as the Administrative
Agent hereunder shall have the same rights and powers in its capacity as a
Lender as any other Lender and may exercise the same as though it were not the
Administrative Agent and the term “Lender” or “Lenders” shall, unless otherwise
expressly indicated or unless the context otherwise requires, include the
Person serving as the Administrative Agent hereunder in its individual
capacity.  Such Person and its Affiliates
may accept deposits from, lend money to, act as the financial advisor or in any
other advisory capacity for and generally engage in any kind of business with
the Borrower or any Subsidiary or other Affiliate thereof as if such Person
were not the Administrative Agent hereunder and without any duty to account
therefor to the Lenders.

 

(b)           Each Lender understands that the Person serving as
Administrative Agent, acting in its individual capacity, and its Affiliates
(collectively, the “Agent’s Group”) are engaged
in a wide range of financial services and businesses (including investment
management, financing, securities trading, corporate and investment banking and
research) (such services and businesses are collectively referred to in this
Section 10.02 as “Activities”) and may engage
in the Activities with or on behalf of the Borrower or its Affiliates.  Furthermore, the Agent’s Group may, in
undertaking the Activities, engage in trading in financial products or
undertake other investment businesses for its own account or on behalf of
others (including the Borrower and its Affiliates and including holding, for
its own account or on behalf of others, equity, debt and similar positions in
the Borrower or its Affiliates), including trading in or holding long, short or
derivative positions in securities, loans or other financial products of one or
more of the Borrower and its Affiliates. 
Each Lender understands and agrees that in engaging in the Activities,
the Agent’s Group may receive or otherwise obtain information concerning the
Borrower and its Affiliates (including information concerning the ability of
the Borrower to perform its obligations hereunder and under the other Loan
Documents) which information may not be available to any of the Lenders that
are not members of the Agent’s Group. 
None of the Administrative Agent nor any member of the Agent’s Group
shall have any duty to disclose to any Lender or use on behalf of the Lenders,
and shall not be liable for the failure to so disclose or use, any information
whatsoever about or derived from the Activities or otherwise (including any
information concerning the business, prospects, operations, property, financial
and other condition or creditworthiness of the Borrower or any Affiliate
thereof) or to account for any revenue or profits obtained in connection with
the Activities, except that the Administrative Agent shall deliver or otherwise
make available to each Lender such documents as are expressly required by any
Loan Document to be transmitted by the Administrative Agent to the Lenders.

 

(c)           Each Lender further understands that there may be
situations where members of the Agent’s Group or their respective customers
(including the Borrower and its Affiliates) either now have or may in the
future have interests or take actions that may conflict with the interests of
any one or more of the Lenders (including the interests of the Lenders
hereunder and under the other Loan Documents). 
Each Lender agrees that no member of the Agent’s Group is or 

 

59

 

shall be required to
restrict its activities as a result of the Person serving as Administrative
Agent being a member of the Agent’s Group, and that each member of the Agent’s
Group may undertake any Activities without further consultation with or
notification to any Lender.  None of (i)
this Agreement nor any other Loan Document, (ii) the receipt by the Agent’s
Group of information (including Information) concerning the Borrower or its
Affiliates (including information concerning the ability of the Borrower to
perform its obligations hereunder and under the other Loan Documents) nor (iii)
any other matter shall give rise to any fiduciary or equitable duties
(including without limitation any duty of trust or confidence) owing by the
Administrative Agent or any member of the Agent’s Group to any Lender including
any such duty that would prevent or restrict the Agent’s Group from acting on
behalf of customers (including the Borrower or its Affiliates) or for its own
account.

 

Section
10.03.  Duties of
Administrative Agent; Exculpatory Provisions.

 

(a)        The
Administrative Agent’s duties hereunder and under the other Loan Documents are
solely ministerial and administrative in nature and the Administrative Agent
shall not have any duties or obligations except those expressly set forth
herein and in the other Loan Documents. 
Without limiting the generality of the foregoing, the Administrative
Agent shall not have any duty to take any discretionary action or exercise any
discretionary powers, but shall be required to act or refrain from acting (and
shall be fully protected in so acting or refraining from acting) upon the
written direction of the Required Lenders (or such other number or percentage
of the Lenders as shall be expressly provided for herein or in the other Loan
Documents), provided that the Administrative Agent shall not be required to
take any action that, in its opinion or the opinion of its counsel, may expose
the Administrative Agent or any of its Affiliates to liability or that is
contrary to any Loan Document or applicable law.

 

(b)        The
Administrative Agent shall not be liable for any action taken or not taken by
it (i) with the consent or at the request of the Required Lenders (or such
other number or percentage of the Lenders as shall be necessary, or as the
Administrative Agent shall believe in good faith shall be necessary, under the
circumstances as provided in Sections 8.01 or 8.02) or (ii) in the absence of
its own gross negligence or willful misconduct. 
The Administrative Agent shall be deemed not to have knowledge of any
Default or Unmatured Default or the event or events that give or may give rise
to any Default or Unmatured Default unless and until the Borrower or any Lender
shall have given written notice to the Administrative Agent describing such
Default or Unmatured Default and such event or events.

 

(c)        Neither
the Administrative Agent nor any member of the Agent’s Group shall be
responsible for or have any duty to ascertain or inquire into (i) any
statement, warranty, representation or other information made or supplied in or
in connection with this Agreement or any other Loan Document, (ii) the contents
of any certificate, report or other document delivered hereunder or thereunder
or in connection herewith or therewith or the adequacy, accuracy and/or
completeness of the information contained therein, (iii) the performance or
observance of any of the covenants, agreements or other terms or conditions set
forth herein or therein or the occurrence of any Default or Unmatured Default,
(iv) the validity, enforceability, effectiveness 

 

60

 

or
genuineness of this Agreement, any other Loan Document or any other agreement,
instrument or document or the perfection or priority of any Lien or security
interest created or purported to be created hereby or (v) the satisfaction of any
condition set forth in Article 4 or elsewhere herein, other than (but subject
to the foregoing clause (ii)) to confirm receipt of items expressly required to
be delivered to the Administrative Agent.

 

(d)        Nothing
in this Agreement or any other Loan Document shall require the Administrative
Agent or any of its Related Parties to carry out any “know your customer” or
other checks in relation to any person on behalf of any Lender and each Lender
confirms to the Administrative Agent that it is solely responsible for any such
checks it is required to carry out and that it may not rely on any statement in
relation to such checks made by the Administrative Agent or any of its Related
Parties.

 

Section
10.04.  Reliance by
Administrative Agent.  The
Administrative Agent shall be entitled to rely upon, and shall not incur any
liability for relying upon, any notice, request, certificate, consent,
statement, instrument, document or other writing (including any electronic
message, Internet or intranet website posting or other distribution) believed
by it to be genuine and to have been signed, sent or otherwise authenticated by
the proper Person.  The Administrative
Agent also may rely upon any statement made to it orally or by telephone and
believed by it to have been made by the proper Person, and shall not incur any
liability for relying thereon.  In
determining compliance with any condition hereunder to the making of a Loan
that by its terms must be fulfilled to the satisfaction of a Lender, the
Administrative Agent may presume that such condition is satisfactory to such
Lender unless an officer of the Administrative Agent responsible for the
transactions contemplated hereby shall have received notice to the contrary
from such Lender prior to the making of such Loan, and such Lender shall not
have made available to the Administrative Agent such Lender’s ratable portion
of such Advance.  The Administrative
Agent may consult with legal counsel (who may be counsel for the Borrower),
independent accountants and other experts selected by it, and shall not be
liable for any action taken or not taken by it in accordance with the advice of
any such counsel, accountants or experts.

 

Section
10.05.  Delegation
of Duties.  The Administrative
Agent may perform any and all of its duties and exercise its rights and powers
hereunder or under any other Loan Document by or through any one or more sub
agents appointed by the Administrative Agent. 
The Administrative Agent and any such sub agent may perform any and all
of its duties and exercise its rights and powers by or through their respective
Related Parties.  Each such sub agent and
the Related Parties of the Administrative Agent and each such sub agent shall
be entitled to the benefits of all provisions of this Article 10 and Section
9.06 (as though such sub-agents were the “Administrative Agent” under the Loan
Documents) as if set forth in full herein with respect thereto.

 

Section
10.06.  Resignation
of Administrative Agent.  The
Administrative Agent may at any time give notice of its resignation to the
Lenders and the Borrower.  Upon receipt
of any such notice of resignation, the Required Lenders shall have the right,
with the consent of the 

 

61

 

Borrower unless a Default
has occurred and is continuing (and otherwise in consultation with the
Borrower)(provided that such consent of the
Borrower shall not be unreasonably withheld or delayed and shall be deemed to
have been given if the Borrower has not responded within five Business Days of
the Borrower’s receipt of a written notice requesting such consent), to appoint
a successor.  If no such successor shall
have been so appointed by the Required Lenders and shall have accepted such
appointment within 30 days after the retiring Administrative Agent gives notice
of its resignation (such 30-day period, the “Lender
Appointment Period”), then the retiring Administrative Agent may
on behalf of the Lenders, appoint a successor Administrative Agent meeting the
qualifications set forth above.  In
addition and without any obligation on the part of the retiring Administrative
Agent to appoint, on behalf of the Lenders, a successor Administrative Agent,
the retiring Administrative Agent may at any time upon or after the end of the
Lender Appointment Period notify the Borrower and the Lenders that no
qualifying Person has accepted appointment as successor Administrative Agent
and the effective date of such retiring Administrative Agent’s
resignation.  Upon the resignation
effective date established in such notice and regardless of whether a successor
Administrative Agent has been appointed and accepted such appointment, the
retiring Administrative Agent’s resignation shall nonetheless become effective
and (i) the retiring Administrative Agent shall be discharged from its duties
and obligations as Administrative Agent hereunder and under the other Loan
Documents, (ii) all payments and communications provided to be made to or
through the Administrative Agent shall instead be made by or to each Lender directly
and (iii) all determinations to be made by the Administrative Agent shall
instead be made by the Required Lenders, in each case, until such time as the
Required Lenders appoint a successor Administrative Agent as provided for above
in this paragraph.  Upon the acceptance
of a successor’s appointment as Administrative Agent hereunder, such successor
shall succeed to and become vested with all of the rights, powers, privileges
and duties as Administrative Agent of the retiring (or retired) Administrative Agent,
and the retiring Administrative Agent shall be discharged from all of its
duties and obligations as Administrative Agent hereunder or under the other
Loan Documents (if not already discharged therefrom as provided above in this
paragraph).  The fees payable by the
Borrower to a successor Administrative Agent shall be the same as those payable
to its predecessor unless otherwise agreed between the Borrower and such
successor.  After the retiring
Administrative Agent’s resignation hereunder and under the other Loan
Documents, the provisions of this Article and Section 9.06 shall continue in
effect for the benefit of such retiring Administrative Agent, its sub agents
and their respective Related Parties in respect of any actions taken or omitted
to be taken by any of them while the retiring Administrative Agent was acting
as Administrative Agent.

 

Section
10.07.  Non-Reliance
on Administrative Agent and Other Lenders.

 

(a)        Each
Lender confirms to the Administrative Agent, each other Lender and each of their
respective Related Parties that it (i) possesses (individually or through its
Related Parties) such knowledge and experience in financial and business
matters that it is capable, without reliance on the Administrative Agent, any
other Lender or any of their respective Related Parties, of evaluating the
merits and risks (including tax, legal, regulatory, credit, accounting and
other financial matters) (x) of entering into this Agreement, (y) of making
Loans and other extensions of credit hereunder and under the other Loan
Documents and (z) in taking or not taking actions 

 

62

 

hereunder
and thereunder, (ii) is financially able to bear such risks and (iii) has
determined that entering into this Agreement and making Loans and other
extensions of credit hereunder and under the other Loan Documents is suitable
and appropriate for it.

 

(b)        Each
Lender acknowledges that (i) it is solely responsible for making its own
independent appraisal and investigation of all risks arising under or in
connection with this Agreement and the other Loan Documents, (ii) it has,
independently and without reliance upon the Administrative Agent, any other
Lender or any of their respective Related Parties, made its own appraisal and
investigation of all risks associated with, and its own credit analysis and
decision to enter into, this Agreement based on such documents and information,
as it has deemed appropriate and (iii) it will, independently and without
reliance upon the Administrative Agent, any other Lender or any of their
respective Related Parties, continue to be solely responsible for making its
own appraisal and investigation of all risks arising under or in connection
with, and its own credit analysis and decision to take or not take action
under, this Agreement and the other Loan Documents based on such documents and
information as it shall from time to time deem appropriate, which may include,
in each case:

 

(i)        the
financial condition, status and capitalization of the Borrower;

 

(ii)       the
legality, validity, effectiveness, adequacy or enforceability of this Agreement
and each other Loan Document and any other agreement, arrangement or document
entered into, made or executed in anticipation of, under or in connection with
any Loan Document;

 

(iii)      determining
compliance or non-compliance with any condition hereunder to the making of a
Loan and the form and substance of all evidence delivered in connection with
establishing the satisfaction of each such condition; and

 

(iv)     the adequacy,
accuracy and/or completeness of the information delivered by the Administrative
Agent, any other Lender or by any of their respective Related Parties under or
in connection with this Agreement or any other Loan Document, the transactions
contemplated hereby and thereby or any other agreement, arrangement or document
entered into, made or executed in anticipation of, under or in connection with
any Loan Document.

 

Section
10.08.  No Other
Duties, Etc.  None of the
Lenders (or Affiliates of Lenders) identified in this Agreement as the
“Syndication Agent” or “Arrangers” or “Co-Arrangers” or “Co-Documentation
Agents” shall have any right, power, obligation, liability, responsibility or
duty under this Agreement in such identified capacity other than those (in the
case of those who are Lenders) applicable to all Lenders as such.  Without limiting the foregoing, none of such
Lenders (or Affiliates of Lenders) shall have or be deemed to have a fiduciary
relationship with any Lender.  Each
Lender hereby makes the same acknowledgments with respect to such Lenders (and
such Affiliates) as it makes with respect to the Administrative Agent in
Section 10.07.

 

63

 

ARTICLE 11

SETOFF; RATABLE PAYMENTS

 

Section
11.01.  Setoff.  In addition to, and without
limitation of, any rights of the Lenders under applicable law, if the Borrower
becomes insolvent, however evidenced, or any Default occurs, any and all
deposits (including all account balances, whether provisional or final and
whether or not collected or available) and any other Indebtedness at any time
held or owing by any Lender or any Affiliate of any Lender to or for the credit
or account of the Borrower may be offset and applied toward the payment of the
Obligations owing to such Lender, whether or not the Obligations, or any part
thereof, shall then be due.

 

Section
11.02.  Ratable
Payments.  If any Lender,
whether by setoff or otherwise, has payment made to it upon its Outstanding
Credit Exposure (other than payments received pursuant to Sections 3.01, 3.02,
3.04, 3.05, 6.20 or 9.06) in a greater proportion than that received by any
other Lender, such Lender agrees, promptly upon demand, to purchase a portion
of the Aggregate Outstanding Credit Exposure held by the other Lenders so that
after such purchase each Lender will hold its ratable proportion of the
Aggregate Outstanding Credit Exposure. 
If any Lender, whether in connection with setoff or amounts which might
be subject to setoff or otherwise, receives collateral or other protection for
its Obligations or such amounts which may be subject to setoff, such Lender
agrees, promptly upon demand, to take such action necessary such that all
Lenders share in the benefits of such collateral ratably in proportion to their
respective Outstanding Credit Exposure. 
In case any such payment is disturbed by legal process, or otherwise,
appropriate further adjustments shall be made.

 

ARTICLE 12

BENEFIT OF AGREEMENT; ASSIGNMENTS; PARTICIPATIONS

 

Section
12.01.  Successors
and Assigns.  The terms and
provisions of the Loan Documents shall be binding upon and inure to the benefit
of the Borrower and the Lenders and their respective successors and assigns
permitted hereby, except that (i) the Borrower shall not have the right to assign
its rights or obligations under the Loan Documents, (ii) any assignment by any
Lender must be made in compliance with Section 12.03 and (iii) any
participation must be made in compliance with Section 12.02.  Any attempted assignment or transfer by any party
not made in compliance with this Section 12.01 shall be null and void, unless
such attempted assignment or transfer is treated as a participation in
accordance with Section 12.03(b).  The
parties to this Agreement acknowledge that clause (ii) of this Section 12.01
relates only to absolute assignments and this Section 12.01 does not prohibit
assignments creating security interests, including, without limitation, (A) any
pledge or assignment by any Lender of all or any portion of its rights under
this Agreement and any Note to secure obligations of such Lender, including to
a Federal Reserve Bank, the European Central Bank or any other central bank to
which such Lender reports (provided that,
no such pledge or assignment shall release a Lender from any of its obligations
hereunder or substitute any such pledgee or assignee for such Lender party
hereto) or (B) in the case of a Lender which is a Fund, any pledge or
assignment of all or 

 

64

 

any portion of its rights
under this Agreement and any Note to its trustee in support of its obligations
to its trustee; provided, however,
that no such pledge or assignment creating a security interest shall release
the transferor Lender from its obligations hereunder unless and until the
parties thereto have complied with the provisions of Section 12.03.  The Administrative Agent may treat the Person
which made any Loan or which holds any Note as the owner thereof for all
purposes hereof unless and until such Person complies with Section 12.03; provided, however, that
the Administrative Agent may in its discretion (but shall not be required to)
follow instructions from the Person which made any Loan or which holds any Note
to direct payments relating to such Loan or Note to another Person.  Any assignee of the rights to any Loan or any
Note agrees by acceptance of such assignment to be bound by all the terms and
provisions of the Loan Documents.  Any
request, authority or consent of any Person, who at the time of making such request
or giving such authority or consent is the owner of the rights to any Loan
(whether or not a Note has been issued in evidence thereof), shall be
conclusive and binding on any subsequent holder or assignee of the rights to
such Loan.

 

Section
12.02. 
Participations.

 

(a)        Permitted Participants; Effect.  Any Lender may, in the ordinary course of its
business and in accordance with applicable law, at any time sell to one or more
banks or other entities (“Participants”)
participating interests in any Outstanding Credit Exposure of such Lender, any
Note held by such Lender, any Commitment of such Lender or any other interest
of such Lender under the Loan Documents. 
In the event of any such sale by a Lender of participating interests to
a Participant, such Lender’s obligations under the Loan Documents shall remain
unchanged, such Lender shall remain solely responsible to the other parties
hereto for the performance of such obligations, such Lender shall remain the
owner of its Outstanding Credit Exposure and the holder of any Note issued to
it in evidence thereof for all purposes under the Loan Documents, all amounts
payable by the Borrower under this Agreement shall be determined as if such
Lender had not sold such participating interests, and the Borrower and the
Administrative Agent shall continue to deal solely and directly with such
Lender in connection with such Lender’s rights and obligations under the Loan
Documents.

 

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

 

(c)        Benefit of Certain Provisions.  The Borrower agrees that each Participant
which has been identified as such to the Borrower in writing shall be deemed to
have the right of setoff provided in Section 11.01 in respect of its
participating interest in amounts owing under the Loan Documents to the same
extent as if the amount of its participating interest were owing directly to it
as a Lender under the Loan Documents; provided, that
each Lender shall retain the right of setoff provided in Section 11.01 with
respect to the amount of participating interests sold to each 

 

65

 

Participant.  The Lenders agree to share with each
Participant, and each Participant, by exercising the right of setoff provided
in Section 11.01, agrees to share with each Lender, any amount received
pursuant to the exercise of its right of setoff, such amounts to be shared in
accordance with Section 11.02 as if each Participant were a Lender.  The Borrower further agrees that each
Participant shall be entitled to the benefits of Section 3.01, 3.02 and 3.05 to
the same extent as if it were a Lender and had acquired its interest by
assignment pursuant to Section 12.03, provided that
(i) a Participant shall not be entitled to receive any greater payment under
Section 3.01, 3.02 or 3.05 than the Lender who sold the participating interest
to such Participant would have received had it retained such interest for its
own account, unless the sale of such interest to such Participant is made with
the prior written consent of the Borrower, and (ii) any Participant complies
with the provisions of Section 3.05 to the same extent as if it were a Lender.

 

Section
12.03. 
Assignments.

 

(a)        Permitted Assignments. 
Any Lender may, in the ordinary course of its business and in accordance
with applicable law, at any time assign to one or more banks or other entities
other than the Borrower or any of its Affiliates (“Purchasers”)
all or any part of its rights and obligations under the Loan Documents.  Such assignment shall be substantially in the
form of Exhibit C or in such other form as may be agreed to by the parties
thereto.  The consent of the Borrower and
the Administrative Agent shall be required prior to an assignment becoming
effective with respect to a Purchaser which is not a Lender, an Affiliate
thereof, an Approved Fund or a Permitted Assignee; provided,
however, that with respect to assignments
after the Closing Date, the consent of the Borrower shall not be required
except with respect to any assignment to a competitor of the Borrower
identified to the Arrangers prior to the date hereof.  Each such assignment with respect to a Purchaser
which is not a Lender or an Affiliate thereof shall (unless each of the
Borrower and the Administrative Agent otherwise consents) be in an amount not
less than the lesser of (i) $1,000,000 and in increments of $1,000,000 in
excess thereof (with contemporaneous assignments to two or more Approved Funds
being combined for the purpose of determining whether the minimum assignment
requirement is met) or (ii) the remaining amount of the assigning Lender’s
Commitment or Outstanding Credit Exposure (if the applicable Commitment has
been terminated).  The amount of the
assignment shall be based on the Commitment or Outstanding Credit Exposure (if
the applicable Commitment has been terminated) subject to the assignment, determined
as of the date of such assignment or as of the “Trade Date”, if the “Trade
Date” is specified in the assignment.

 

(b)        Effect; Effective Date. 
Upon (i) delivery (via
an electronic settlement system acceptable to the Administrative Agent) to and
acceptance by the Administrative Agent of an assignment, together with any
consents required by
12.03(a), (ii) payment of a
$3,500 fee to the Administrative Agent for processing such assignment and (iii)
if the assignee is not a Lender, delivery to the Administrative Agent by the
assignee of an Administrative Questionnaire, such assignment shall become
effective on the effective date specified in such assignment.  On and
after the effective date of such assignment, such Purchaser shall for all
purposes be a Lender party to this Agreement and any other Loan Document
executed by or on behalf of the Lenders and shall have all the rights and
obligations of a Lender under the Loan Documents, to the same 

 

66

 

extent
as if it were an original party hereto, and no further consent or action by the
Borrower, the Lenders or the Administrative Agent shall be required to release
the transferor Lender with respect to the percentage of the Aggregate
Commitment and Outstanding Credit Exposure assigned to such Purchaser.  In the case of an assignment covering all of
the assigning Lender’s rights and obligations under this Agreement, such Lender
shall cease to be a Lender hereunder but shall continue to be entitled to the
benefits of, and subject to, those provisions of this Agreement and the other
Loan Documents which survive payment of the Obligations and termination of the
applicable agreement.  Any assignment or
transfer by a Lender of rights or obligations under this Agreement that does
not comply with this Section 12.03 shall be treated for purposes of this
Agreement as a sale by such Lender of a participation in such rights and
obligations in accordance with Section 12.02. 
Upon the consummation of any assignment to a Purchaser pursuant to this
Section 12.03(b), the transferor Lender, the Administrative Agent and the
Borrower shall, if the transferor Lender or the Purchaser desires that its
Loans be evidenced by Notes, make appropriate arrangements so that new Notes
or, as appropriate, replacement Notes are issued to such transferor Lender and
new Notes or, as appropriate, replacement Notes, are issued to such Purchaser,
in each case in principal amounts reflecting their respective Commitments, as
adjusted pursuant to such assignment.

 

(c)        Register.  The
Administrative Agent, acting solely for this purpose as an agent of the
Borrower, shall 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 principal amounts of the Loans owing to, each Lender pursuant to the terms
hereof from time to time (the “Register”).  The entries in the Register shall be
conclusive, and the Borrower, the Administrative Agent and the Lenders may
treat each Person whose name is recorded in the Register pursuant to the terms
hereof as a Lender hereunder for all purposes of this Agreement,
notwithstanding notice to the contrary. 
The Register shall be available for inspection by the Borrower and any
Lender, at any reasonable time and from time to time upon reasonable prior
notice.

 

Section
12.04. 
Dissemination of Information.  The
Borrower authorizes each Lender to disclose to any Participant or Purchaser or
any other Person acquiring an interest in the Loan Documents by operation of
law (each a “Transferee”) and any
prospective Transferee any and all information in such Lender’s possession
concerning the creditworthiness of the Borrower and its Subsidiaries; provided that each Transferee and prospective Transferee
agrees to be bound by Section 9.11 of this Agreement.

 

Section
12.05.  Tax
Treatment.  If any interest in
any Loan Document is transferred to any Transferee which is not organized under
the laws of the United States or any State thereof, the transferor Lender shall
cause such Transferee, concurrently with the effectiveness of such transfer, to
comply with the provisions of Section 3.05(d).

 

67

 

ARTICLE 13

NOTICES

 

Section
13.01.  Giving
Notice.  Except as otherwise
permitted by Section 2.15 with respect to borrowing notices, all notices,
requests and other communications to any party hereunder shall be in writing
(including electronic transmission, facsimile transmission or similar writing)
and shall be given to such party: (a) in the case of the Borrower or the
Administrative Agent, at its address or facsimile number set forth on the
signature pages hereof, (b) in the case of any Lender, at its address or
facsimile number set forth below its signature hereto or (c) in the case of any
party, at such other address or facsimile number as such party may hereafter
specify for the purpose by notice to the Administrative Agent and the Borrower
in accordance with the provisions of this Section 13.01.  Each such notice, request or other
communication shall be effective (i) if given by facsimile transmission, when
transmitted to the facsimile number specified in this Section and confirmation
of receipt is received, (ii) if given by mail, 72 hours after such
communication is deposited in the mails with first class postage prepaid,
addressed as aforesaid, or (iii) if given by any other means, when delivered
(or, in the case of electronic transmission, received or confirmed by email) at
the address specified in this Section; provided that
notices to the Administrative Agent under Article 2 shall not be effective
until received. Except as set forth below, notwithstanding anything to the
contrary in this Section, the Borrower shall furnish the materials described in
Sections 6.01(a), 6.01(b), 6.01(h) and 6.01(i) by email or by posting such
materials on an internet web site made available to the Lenders or as otherwise
specified to the Borrower by the Administrative Agent.

 

So long as Credit Suisse AG
or any of its Affiliates is the Administrative Agent, materials required to be
delivered pursuant to Sections 6.01(a), 6.01(b), 6.01(h) and 6.01(i) shall be
delivered by hand or overnight courier service, mailed by certified or
registered mail or sent by fax or email to the Administrative Agent as follows:
Credit Suisse, Attention of: Sean Portrait, Eleven Madison Avenue, New York, NY
10010, Fax No. 212-322-2291, Email: 
agency.loanops@credit-suisse.com. 
The Borrower agrees that the Administrative Agent may make such
materials, as well as any other written information, documents, instruments and
other materials relating to the Borrower, any of its Subsidiaries or any other
materials or matters relating to this Agreement, the Notes or any of the
transactions contemplated hereby (collectively, the “Communications”)
available to the Lenders by posting such materials on Intralinks or a
substantially similar electronic system (the “Platform”).  The Borrower acknowledges that (i) the
distribution of material through an electronic medium is not necessarily secure
and that there are confidentiality and other risks associated with such
distribution, (ii) the Platform is provided “as is” and “as available” and
(iii) neither the Administrative Agent nor any of its Affiliates warrants the
accuracy, adequacy or completeness of the Communications or the Platform and
each expressly disclaims liability for errors or omissions in the
Communications or the Platform.  No
warranty of any kind, express, implied or statutory, including, without
limitation, any warranty of merchantability, fitness for a particular purpose,
non-infringement of third party rights or freedom from viruses or other code
defects, is made by the Administrative Agent or any of its Affiliates in
connection with the Platform.

 

68

 

Each Lender agrees that
notice to it (as provided in the next sentence) (a “Notice”)
specifying that any Communications have been posted to the Platform shall
constitute effective delivery of such information, documents or other materials
to such Lender for purposes of this Agreement; provided
that if requested by any Lender, the Administrative Agent shall deliver a copy
of the Communications to such Lender by email or telecopier.  Each Lender agrees (i) to notify the
Administrative Agent in writing of such Lender’s e-mail address to which a
Notice may be sent by electronic transmission (including by electronic
communication) on or before the date such Lender becomes a party to this
Agreement (and from time to time thereafter to ensure that the Administrative
Agent has on record an effective e-mail address for such Lender) and (ii) that
any Notice may be sent to such e-mail address.

 

Section 13.02.  Change of Address.  The Borrower, the Administrative
Agent and any Lender may each change the address for service of notice upon it
by a notice in writing to the other parties hereto.

 

ARTICLE 14

COUNTERPARTS

 

This Agreement may be
executed in any number of counterparts, all of which taken together shall
constitute one agreement, and any of the parties hereto may execute this
Agreement by signing any such counterpart. 
This Agreement shall be effective when it has been executed by the
Borrower, the Administrative Agent and the Lenders and each party has notified
the Administrative Agent by facsimile transmission or telephone that it has
taken such action and the other conditions precedent in Section 4.01 have
been satisfied.

 

ARTICLE 15

CHOICE OF LAW; CONSENT TO JURISDICTION; WAIVER OF JURY TRIAL

 

Section 15.01.  CHOICE OF LAW.  THE LOAN DOCUMENTS (OTHER THAN
THOSE CONTAINING A CONTRARY EXPRESS CHOICE OF LAW PROVISION) SHALL BE CONSTRUED
IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK; provided,
however, that the interpretation of the definitions of “Borrower Material
Adverse Change” and “Company Material Adverse Change” for purposes of the Loan
Documents shall be governed by, and construed in accordance with, the laws of
the State of Delaware, regardless of the laws that might otherwise govern under
applicable principles of conflicts of laws.

 

Section 15.02.  CONSENT TO JURISDICTION.  THE BORROWER HEREBY IRREVOCABLY
SUBMITS TO THE EXCLUSIVE JURISDICTION OF ANY UNITED STATES FEDERAL OR NEW YORK
STATE COURT SITTING IN NEW YORK, NEW YORK IN ANY ACTION OR PROCEEDING ARISING
OUT OF OR RELATING TO ANY LOAN DOCUMENTS AND THE BORROWER HEREBY (TO THE
FULLEST EXTENT PERMITTED BY LAW) IRREVOCABLY AGREES THAT ALL CLAIMS IN RESPECT
OF 

 

69

 

SUCH ACTION OR PROCEEDING MAY BE
HEARD AND DETERMINED IN ANY SUCH COURT AND IRREVOCABLY WAIVES ANY OBJECTION IT MAY NOW
OR HEREAFTER HAVE AS TO THE VENUE OF ANY SUCH SUIT, ACTION OR PROCEEDING
BROUGHT IN SUCH A COURT OR THAT SUCH COURT IS AN INCONVENIENT FORUM.  NOTHING HEREIN SHALL LIMIT THE RIGHT OF THE
ADMINISTRATIVE AGENT OR ANY LENDER TO BRING PROCEEDINGS AGAINST THE BORROWER IN
THE COURTS OF ANY OTHER JURISDICTION. 
ANY JUDICIAL PROCEEDING BY THE BORROWER AGAINST THE ADMINISTRATIVE AGENT
OR ANY LENDER OR ANY AFFILIATE OF THE ADMINISTRATIVE AGENT OR ANY LENDER
INVOLVING, DIRECTLY OR INDIRECTLY, ANY MATTER IN ANY WAY ARISING OUT OF,
RELATED TO, OR CONNECTED WITH ANY LOAN DOCUMENT SHALL BE BROUGHT ONLY IN A
COURT IN NEW YORK, NEW YORK.

 

Section 15.03.  WAIVER OF JURY TRIAL.  THE BORROWER, THE ADMINISTRATIVE
AGENT AND EACH LENDER HEREBY WAIVE TRIAL BY JURY IN ANY JUDICIAL PROCEEDING
INVOLVING, DIRECTLY OR INDIRECTLY, ANY MATTER (WHETHER SOUNDING IN TORT,
CONTRACT OR OTHERWISE) IN ANY WAY ARISING OUT OF, RELATED TO, OR CONNECTED WITH
ANY LOAN DOCUMENT OR THE RELATIONSHIP ESTABLISHED THEREUNDER.

 

70

 

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

 

	
   

  	
  AON CORPORATION

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Christa Davies

  
	
   

  	
   

  	
  Name: 

  	
  Christa Davies

  
	
   

  	
   

  	
  Title:

  	
  CFO

  
	
   

  	
   

  	
   

  
	
   

  	
  Aon Center

  
	
   

  	
  200 East Randolph Drive

  
	
   

  	
  Chicago, Il 60601

  
	
   

  	
  Attn:

  	
  Paul Hagy

  
	
   

  	
   

  	
   

  
	
   

  	
  Tel:

  	
  312-381-3230

  
	
   

  	
  Fax:

  	
  312-381-3230

  
					

 

 

	
   

  	
  CREDIT SUISSE AG, Cayman
  Islands Branch 

  as Lender and as Administrative Agent

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Shaheen Malik

  
	
   

  	
   

  	
  Name: 

  	
  Shaheen Malik

  
	
   

  	
   

  	
  Title: 

  	
  Vice President

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Kevin Buddhdew

  
	
   

  	
   

  	
  Name: 

  	
  Kevin Buddhdew

  
	
   

  	
   

  	
  Title: 

  	
  Associate

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Agency Manager

  
	
   

  	
  One Madison Avenue

  
	
   

  	
  New York, NY 10010

  
	
   

  	
  Attn.:

  	
  Sean Portrait

  
	
   

  	
   

  	
   

  
	
   

  	
  Fax:

  	
  212-322-2291

  
	
   

  	
  Email:

  	
  agency.loanops@credit-suisse.com

  
						

 

 

	
   

  	
  Morgan Stanley Bank, N.A.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Subhalakshmi
  Ghosh-Kohli

  
	
   

  	
   

  	
  Name: 

  	
  Subhalakshmi Ghosh-Kohli

  
	
   

  	
   

  	
  Title: 

  	
  Authorized Signatory

  
	
   

  	
   

  	
   

  	
   

  

 

 

	
   

  	
  Bank of America, N.A.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Scott W. Reynolds

  
	
   

  	
   

  	
  Name: 

  	
  Scott W. Reynolds

  
	
   

  	
   

  	
  Title: 

  	
  Vice President

  

 

 

	
   

  	
  Deutsche Bank AG Cayman
  Islands Branch

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ John S. McGill

  
	
   

  	
   

  	
  Name: 

  	
  John S. McGill

  
	
   

  	
   

  	
  Title: 

  	
  Director

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Robert Chesley

  
	
   

  	
   

  	
  Name: 

  	
  Robert Chesley

  
	
   

  	
   

  	
  Title: 

  	
  Director

  
					

 

 

	
   

  	
  THE ROYAL BANK OF SCOTLAND PLC

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Joseph Lux

  
	
   

  	
   

  	
  Name: 

  	
  Joseph Lux

  
	
   

  	
   

  	
  Title: 

  	
  Managing Director

  

 

 

	
   

  	
  Australia and New Zealand
  Banking Group Limited

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ John W. Wade

  
	
   

  	
   

  	
  Name: 

  	
  John W. Wade

  
	
   

  	
   

  	
  Title: 

  	
  Deputy General Manager Head
  of Operations and Infrastructure

  

 

 

	
   

  	
  The Northern Trust
  Company

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Chris McKean

  
	
   

  	
   

  	
  Name: 

  	
  Chris McKean

  
	
   

  	
   

  	
  Title: 

  	
  Vice President

  

 

 

	
   

  	
  ROYAL BANK OF CANADA

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Tim Stephens

  
	
   

  	
   

  	
  Name: 

  	
  Tim Stephens

  
	
   

  	
   

  	
  Title: 

  	
  Authorized Signatory

  

 

 

	
   

  	
  UBS LOAN FINANCE LLC

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Mary E. Evans

  
	
   

  	
   

  	
  Name: 

  	
  Mary E. Evans

  
	
   

  	
   

  	
  Title: 

  	
  Associate Director

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ April Varner-Nanton

  
	
   

  	
   

  	
  Name: 

  	
  April Varner-Nanton

  
	
   

  	
   

  	
  Title: 

  	
  Director

  
					

 

 

	
   

  	
  Wells Fargo Bank,
  National Association

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Casey Connelly

  
	
   

  	
   

  	
  Name: 

  	
  Casey Connelly

  
	
   

  	
   

  	
  Title: 

  	
  Vice President

  

 

 

Pricing Schedule

 

	
   

  	
   

  	
  Level I

  	
   

  	
  Level II

  	
   

  	
  Level III

  	
   

  	
  Level IV

  	
   

  	
  Level V

  
	
   

  	
   

  	
  Applicable

  Margin (bps)

  	
   

  	
  Applicable

  Margin (bps)

  	
   

  	
  Applicable

  Margin (bps)

  	
   

  	
  Applicable

  Margin (bps)

  	
   

  	
  Applicable

  Margin (bps)

  
	
  Borrower Debt Rating(1)

  	
   

  	
  At least A- by S&P or
  A3 by Moody’s

  	
   

  	
  At least BBB+ by S&P
  or Baa1 by Moody’s

  	
   

  	
  At least BBB by S&P
  or Baa2 by Moody’s

  	
   

  	
  At least BBB- by S&P
  or Baa3 by Moody’s

  	
   

  	
  None of Levels
  I, II, III or IV is applicable

  
	
  0-89 days from the
  Closing Date

  	
   

  	
  200.0

  	
   

  	
  250.0

  	
   

  	
  300.0

  	
   

  	
  350.0

  	
   

  	
  400.0

  
	
  90-179 days from the
  Closing Date

  	
   

  	
  CDS
  Margin + 25.0

  	
   

  	
  CDS
  Margin + 50.0

  	
   

  	
  CDS Margin + 75.0

  	
   

  	
  CDS Margin + 100.0

  	
   

  	
  CDS Margin + 125.0

  
	
  180-269 days from the
  Closing Date

  	
   

  	
  CDS
  Margin + 75.0

  	
   

  	
  CDS
  Margin + 100.0

  	
   

  	
  CDS Margin + 125.0

  	
   

  	
  CDS Margin + 150.0

  	
   

  	
  CDS Margin + 175.0

  
	
  270-364 days from the
  Closing Date

  	
   

  	
  CDS
  Margin + 125.0

  	
   

  	
  CDS
  Margin + 150.0

  	
   

  	
  CDS Margin + 175.0

  	
   

  	
  CDS Margin + 200.0

  	
   

  	
  CDS Margin + 225.0

  

 

The Applicable Margin shall
be determined in accordance with the foregoing table based on the Borrower Debt
Ratings from time to time.  The Borrower
Debt Rating in effect on any date for the purposes of this Schedule is that in
effect at the close of business on such date. 
If at any time there is no Borrower Debt Rating from Moody’s or S&P,
Level V shall apply.

 

For purposes of this
Pricing Schedule:

 

“CDS
Margin” means a rate per annum equal to the arithmetic average
determined by the Administrative Agent on the second Business Day prior to the
90th day after the Closing Date, and reset on the second Business Day prior to
the date that is 30 days after the date on which the previous CDS Margin was
set (each such date, a “Determination Date”)
of the rates obtained by 

 

(1)  In the event of a
split rating, the applicable rating shall be deemed to be the higher of the two
ratings; provided, if the difference between the
two ratings is greater than one sub-grade, the applicable rating shall be
deemed to be one sub-grade below the higher of the two ratings.

 

1

 

the Administrative Agent
from the CDS Data for the 30 Business Days immediately preceding such
Determination Date; provided that
the CDS Margin shall in no event be less than the CDS Margin Floor or greater
than the CDS Margin Cap.  If the
Administrative Agent is unable to obtain the CDS Data for any Determination
Date, the Administrative Agent shall give notice thereof to the Borrower and
each Lender as soon as practicable thereafter. 
In such event, the Borrower and the Administrative Agent shall use
commercially reasonable efforts to promptly agree on an alternative source of
data and/or calculation methodology to determine the CDS Margin, which
alternative source and/or methodology must be reasonably acceptable to the
Required Lenders.  If no such alternative
source of data and/or methodology is agreed within 30 days after such
Determination Date, the CDS Margin shall be equal to the midpoint between the
CDS Margin Floor and the CDS Margin Cap for such Determination Date, unless and
until the CDS Margin can be determined in accordance with this definition.

 

“CDS
Data” means, with respect to any date, the trailing 30-day
average of the composite end of day credit default swap spread for the five
year point on the trading convention credit default curve that is the most
liquid and/or widely followed credit default swap curve for the Borrower’s senior
unsecured obligations for the immediately preceding 30 Business Days, as
determined by the Administrative Agent.

 

“CDS
Margin Floor” means, (i) in the case of Level I pricing,
2.00% and (ii) in the case of Level II, Level III, Level IV or Level V
pricing, 2.25%.

 

“CDS
Margin Cap” means, (i) in the case of Level I pricing,
4.50% and (ii) in the case of Level II, Level III, Level IV or Level V
pricing, 5.00%.

 

2

 

SCHEDULE 1.01

 

Commitments

 

	
  Lender

  	
   

  	
  Commitment

  	
   

  
	
  1 Credit Suisse AG,
  Cayman Islands Branch

  	
   

  	
  393,750,000.00

  	
   

  
	
  2 Morgan Stanley Bank,
  N.A.

  	
   

  	
  393,750,000.00

  	
   

  
	
  3 Bank of America, N.A.

  	
   

  	
  187,500,000.00

  	
   

  
	
  4 Deutsche Bank AG Cayman
  Islands Branch

  	
   

  	
  187,500,000.00

  	
   

  
	
  5 The Royal Bank of
  Scotland plc

  	
   

  	
  187,500,000.00

  	
   

  
	
  6 Australia and New
  Zealand Banking Group Limited

  	
   

  	
  30,000,000.00

  	
   

  
	
  7 The Northern Trust
  Company

  	
   

  	
  30,000,000.00

  	
   

  
	
  8 Royal Bank of Canada

  	
   

  	
  30,000,000.00

  	
   

  
	
  9 UBS Loan Finance LLC

  	
   

  	
  30,000,000.00

  	
   

  
	
  10 Wells Fargo Bank,
  National Association

  	
   

  	
  30,000,000.00

  	
   

  
	
  TOTAL

  	
   

  	
  1,500,000,000.00

  	
   

  

 

1

 

SCHEDULE 4.02(g)

 

Continuing Debt
Instruments

 

1.               The Existing Credit Agreement in an aggregate
committed amount up to $400,000,000.

 

2.               The Euro Facility in an aggregate committed
amount up to €850,000,000.

 

3.               7.375% Senior Notes due 2012 issued by Aon
Corporation, in an aggregate principal amount of up to $225,000,000.

 

4.               5.05% Senior Unsecured Debentures due 2011
issued by Aon Finance N.S. 1, ULC and guaranteed by Aon Corporation, in an
aggregate principal amount of up to $375,000,000.

 

5.               8.205% Junior Subordinated Deferrable Interest
Debentures Due January 2027 issued by Aon Corporation, in an aggregate
principal amount of up to $686,995,000.

 

6.               6.25% Guaranteed Notes due July 2014 issued
by Aon Financial Services Luxembourg S.A. and guaranteed by Aon Corporation, in
an aggregate principal amount of up to €500,000,000.

 

7.               Class A1 Senior Floating Rate Notes due
2011 issued by Private Equity Partnership Structures I LLC (PEPS), in an
aggregate principal amount of up to $47,000,000.

 

8.               Loan Agreement, dated as of June 2009,
among Accuracy SAS and BNP Paribas, as lender, in an aggregate principal amount
of up to €1,500,000.

 

9.               Credit Agreement, dated as of October 9,
2009, among Hewitt Associates L.L.C., as borrower, Hewitt Associates, Inc.,
as a guarantor, the lenders from time to time party thereto and JPMorgan Chase
Bank, N.A., as administrative agent, providing for a $250,000,000 revolving
loan facility.

 

10.         Loan Agreement, dated as of August 8, 2008,
among Hewitt Associates L.L.C., as borrower, Hewitt Associates, Inc., as a
guarantor, the lenders from time to time party thereto and JPMorgan Chase Bank,
N.A., as administrative agent, in an aggregate principal amount of up to
$270,000,000.

 

11.         Term Loan Credit Facility Agreement, dated as of
March 2008, among Hewitt Bacon & Woodrow Limited, as borrower,
Hewitt Associates, Inc., as guarantor, and Barclays Bank plc, as lender,
in an aggregate principal amount of up to £23,750,000.

 

12.         8.08% Senior Notes, Series A, Tranche 2 due
March 30, 2012 issued by Hewitt Associates L.L.C., in an aggregate
principal amount of up to $14,000,000.

 

1

 

13.         7.90% Senior Notes, Series E, due
October 15, 2010 issued by Hewitt Associates L.L.C., in an aggregate
principal amount of up to $15,000,000.

 

14.         6.57% Series F Senior Notes due August 21,
2015 issued by Hewitt Associates L.L.C. and guarantied by Hewitt Associates, Inc.,
in an aggregate principal amount of up to $175,000,000.

 

15.         6.98% Series G Senior Notes due August 21,
2018 issued by Hewitt Associates L.L.C. and guarantied by Hewitt Associates, Inc.,
in an aggregate principal amount of up to $55,000,000.

 

2

 

SCHEDULE 5.21

Foreign Corrupt
Practices Act Matters

 

As disclosed in the
Borrower’s periodic filings with the Securities and Exchange Commission (“SEC”),
following inquiries from regulators, Borrower commenced an internal review of
its compliance with certain U.S. and non-U.S. anti-corruption laws, including
the Foreign Corrupt Practices Act. In January 2009, Aon Limited, Borrower’s
principal U.K. brokerage subsidiary, entered into a settlement agreement with
the FSA to pay a £5.25 million fine arising from its failure to exercise
reasonable care to establish and maintain effective systems and controls to
counter the risks of bribery arising from the use of overseas firms and
individuals who helped it win business. The SEC and the Department of Justice (“DOJ”)
continue to investigate these matters. Borrower is fully cooperating with these
investigations and has agreed with the U.S. agencies to toll any applicable
statute of limitations pending completion of the investigations. Based on
current information, Borrower is unable to predict at this time when the SEC
and DOJ matters will be concluded, or what regulatory or other outcomes may
result.

 

1

 

EXHIBIT A

 

NOTE

 

	
  [$

  	
                 ]

  	
   

  	
   

  	
  [Date]

  

 

Aon Corporation, a Delaware corporation (the “Borrower”), promises to pay to the
order of                  (the
“Lender”) the aggregate unpaid
principal amount of all Loans made by the Lender to the Borrower pursuant to Article 2
of the Agreement (as hereinafter defined), in immediately available funds at
the main office of Credit Suisse AG in New York, New York, as Administrative
Agent, together with interest on the unpaid principal amount hereof at the
rates and on the dates set forth in the Agreement.  The Borrower shall pay the principal of and
accrued and unpaid interest on the Loans in full on the Maturity Date and shall
make such mandatory payments as are required to be made under the terms of Article 2
of the Agreement.

 

The Lender shall, and is hereby authorized to, record
on the schedule attached hereto, or to otherwise record in accordance with its
usual practice, the date and amount of each Loan and the date and amount of
each principal payment hereunder.

 

This Note is one of the Notes issued pursuant to, and
is entitled to the benefits of, the Senior Bridge Term Loan Credit Agreement
dated as of [], 2010 (which, as it may be amended, amended and restated,
supplemented or otherwise modified and in effect from time to time, is herein
called the “Agreement”), among the
Borrower, the lenders party thereto, including the Lender, and Credit Suisse
AG, as Administrative Agent, to which Agreement reference is hereby made for a
statement of the terms and conditions governing this Note, including the terms
and conditions under which this Note may be prepaid or its maturity date
accelerated.  Capitalized terms used
herein and not otherwise defined herein are used with the meanings attributed
to them in the Agreement.

 

	
   

  	
  AON CORPORATION

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
  Print Name:

  
	
   

  	
  Title:

  

 

 

SCHEDULE
OF LOANS AND PAYMENTS OF PRINCIPAL

TO

NOTE OF
AON CORPORATION,

 

DATED
                ,

 

	
  Date

  	
   

  	
  Amount of Advance

  	
   

  	
  Amount of Principal

  Paid or Prepaid

  	
   

  	
  Unpaid Principal

  Balance

  	
   

  	
  Notation Made By

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  

 

2

 

EXHIBIT B

 

COMPLIANCE
CERTIFICATE

 

To: The
Lenders parties to the Credit Agreement Described Below

 

This
Compliance Certificate is furnished pursuant to that certain Senior Bridge Term
Loan Credit Agreement dated as of [], 2010 (as amended, modified, renewed or
extended from time to time, the “Agreement”) among the Borrower, the lenders
party thereto and Credit Suisse AG, as Administrative Agent for the
Lenders.  Unless otherwise defined
herein, capitalized terms used in this Compliance Certificate have the meanings
ascribed thereto in the Agreement.

 

THE
UNDERSIGNED HEREBY CERTIFIES THAT:

 

1.     I am the duly elected [          ]
of the Borrower;

 

2.     I have reviewed the terms of the Agreement
and I have made, or have caused to be made under my supervision, a detailed
review of the transactions and conditions of the Borrower and its Subsidiaries
during the accounting period covered by the attached financial statements;

 

3.     The examinations described in paragraph 2
did not disclose, and I have no knowledge of, the existence of any condition or
event which constitutes a Default or Unmatured Default during or at the end of
the accounting period covered by the attached financial statements or as of the
date of this Compliance Certificate, except as set forth below; and

 

4.     Schedule I attached hereto sets forth
financial data and computations evidencing the Borrower’s compliance with
certain covenants of the Agreement, all of which data and computations are
true, complete and correct.

 

Described
below are the exceptions, if any, to paragraph 3 by listing, in detail, the
nature of the condition or event, the period during which it has existed and
the action which the Borrower has taken, is taking, or proposes to take with
respect to each such condition or event:

 

The
foregoing certifications, together with the computations set forth in Schedule
I hereto and the financial statements delivered with this Compliance
Certificate in support hereof, are made and delivered this day of
                  ,
20   .

 

 

SCHEDULE
I TO COMPLIANCE CERTIFICATE

 

Schedule of
Compliance as of                  ,
20    with Provisions of Section 6.17 of the Agreement

 

1.     Section 6.17(a) -
Consolidated Adjusted EBITDA to Consolidated Interest Expense

 

A.    Consolidated
Adjusted EBITDA (for four fiscal quarters ended                  , 20   
)

 

	
  (i)

  	
   

  	
  Consolidated Net Income

  	
   

  	
  $

  	
   

  
	
  (ii)

  	
   

  	
  Consolidated Interest Expense

  	
   

  	
  $

  	
   

  
	
  (iii)

  	
   

  	
  taxes

  	
   

  	
  $

  	
   

  
	
  (iv)

  	
   

  	
  depreciation

  	
   

  	
  $

  	
   

  
	
  (v)

  	
   

  	
  amortization

  	
   

  	
  $

  	
   

  
	
  (vi)

  	
   

  	
  extraordinary losses

  	
   

  	
  $

  	
   

  
	
  (vii)

  	
   

  	
  Transaction Costs

  	
   

  	
  $

  	
   

  
	
  (viii)

  	
   

  	
  non-recurring Merger-related cash
  charges

  	
   

  	
  $

  	
   

  
	
  (ix)

  	
   

  	
  extraordinary gains

  	
   

  	
  $

  	
   

  
	
  (x)

  	
   

  	
  Sum of (i) through
  (viii) minus (ix)

  	
   

  	
  $

  	
   

  

 

B.     Consolidated
Interest Expense (for four fiscal quarters ended               , 20  
) $              

 

C.     Ratio of A
to B to 1.0

 

D.    Permitted
Ratio Greater than 4.0 to 1.0 Complies / Does Not Comply

 

2.     Section 6.17(b) -
Consolidated Leverage Ratio

 

A.    Consolidated
Funded Debt (as of          
   , 20   ) $               

 

B.     Consolidated
Adjusted EBITDA (for four fiscal quarters ended               , 20  
)

 

	
  (i)

  	
   

  	
  Consolidated Net Income

  	
   

  	
  $

  
	
  (ii)

  	
   

  	
  Consolidated Interest Expense

  	
   

  	
  $

  
	
  (iii)

  	
   

  	
  taxes

  	
   

  	
  $

  
	
  (iv)

  	
   

  	
  depreciation

  	
   

  	
  $

  
	
  (v)

  	
   

  	
  amortization

  	
   

  	
  $

  
	
  (vi)

  	
   

  	
  extraordinary losses

  	
   

  	
  $

  
	
  (vii)

  	
   

  	
  Transaction Costs

  	
   

  	
  $

  
	
  (viii)

  	
   

  	
  non-recurring Merger-related cash charges

  	
   

  	
  $

  

 

2

 

	
  (ix)

  	
   

  	
  extraordinary gains

  	
   

  	
  $

  
	
  (x)

  	
   

  	
  Sum of (i) through (viii) minus (ix)

  	
   

  	
  $

  

 

C.    Ratio of A to B to 1.0

 

D.    Permitted Ratio Less than 3.0 to 1.0
Complies / Does Not Comply

 

3

 

EXHIBIT C

ASSIGNMENT AND ASSUMPTION AGREEMENT

 

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

 

For an
agreed consideration, the Assignor hereby irrevocably sells and assigns to the
Assignee, and the Assignee hereby irrevocably purchases and assumes from the
Assignor, subject to and in accordance with the Standard Terms and Conditions
and the Credit Agreement, as of the Effective Date inserted by Administrative
Agent as contemplated below, the interest in and to all of the Assignor’s
rights and obligations under the Credit Agreement and any other documents or
instruments delivered pursuant thereto that represents the amount and
percentage interest identified below of all of the Assignor’s outstanding rights
and obligations under the respective facilities identified below (including, to
the extent included in any such facilities, letters of credit and swingline
loans) (the “Assigned Interest”). Such sale and assignment is without
recourse to the Assignor and, except as expressly provided in this Assignment,
without representation or warranty by the Assignor.

 

	
  1.

  	
   

  	
  Assignor:

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  2.

  	
   

  	
  Assignee:

  	
   

  	
                                                   [and
  is an Affiliate/Approved Fund(2)]

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  3.

  	
   

  	
  Borrower:

  	
   

  	
  Aon
  Corporation

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  4.

  	
   

  	
  Administrative
  Agent:

  	
   

  	
  Credit
  Suisse AG, acting through its Cayman Islands Branch, as Administrative Agent
  under the Credit Agreement

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  5.

  	
   

  	
  Credit
  Agreement

  	
   

  	
  The
  $1,500,000,000 Senior Bridge Term Loan Credit Agreement dated as of
             , 2010
  among Aon Corporation, the Lenders parties thereto, Credit Suisse AG, acting
  through its Cayman Islands Branch, as Administrative Agent, and the other
  agents parties thereto.

  

 

(2)           Select as applicable.

 

1

 

	
  6.

  	
   

  	
  Assigned
  Interest:

  	
   

  	
   

  

 

	
  Aggregate Amount of

  Commitment/Loans for all

  Lenders(3)

  	
   

  	
  Amount
  of

  Commitment/Loans

  Assigned

  	
   

  	
  Percentage
  Assigned of

  Commitment/Loans(14)

  	
   

  	
  CUSIP
  Number

  	
   

  
	
  $

  	
   

  	
   

  	
  $

  	
   

  	
   

  	
   

  	
  %

  	
   

  	
   

  
	
  $

  	
   

  	
   

  	
  $

  	
   

  	
   

  	
   

  	
  %

  	
   

  	
   

  
	
  $

  	
   

  	
   

  	
  $

  	
   

  	
   

  	
   

  	
  %

  	
   

  	
   

  

 

Effective
Date:              
   , 20    [TO BE INSERTED BY ADMINISTRATIVE
AGENT AND WHICH SHALL BE THE EFFECTIVE DATE OF RECORDATION OF TRANSFER IN THE
REGISTER THEREFOR.]

 

The terms
set forth in this Assignment are hereby agreed to:

 

	
   

  	
  ASSIGNOR

  
	
   

  	
  [NAME OF
  ASSIGNOR]

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Title:

  
	
   

  	
   

  	
   

  
	
   

  	
  ASSIGNEE

  
	
   

  	
  [NAME OF
  ASSIGNEE]

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Title:

  
	
   

  	
   

  	
   

  
	
  Consented to and
  Accepted:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  CREDIT SUISSE AG,

  	
   

  	
   

  
	
  acting through its Cayman
  Islands Branch,

  	
   

  	
   

  
	
  as Administrative Agent

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
   

  	
   

  	
   

  
	
   

  	
  Title:

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  By:

  	
   

  	
   

  	
   

  
	
   

  	
  Title:

  	
   

  	
   

  

 

Set forth, to at least 9
decimals, as a percentage of the Commitment/Loans of all Lenders thereunder.

 

2

 

	
  [Consented to:]

  	
   

  	
   

  
	
  AON CORPORATION

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
   

  	
   

  	
   

  
	
   

  	
  Title:

  	
   

  	
   

  

 

3

 

ANNEX 1

 

AON CORPORATION

$                
CREDIT AGREEMENT

 

STANDARD TERMS AND
CONDITIONS FOR ASSIGNMENT

AND ASSUMPTION
AGREEMENT

 

1.             Representations and Warranties.

 

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

 

1.2           Assignee. The Assignee
(a) represents and warrants that (i) it has full power and authority,
and has taken all action necessary, to execute and deliver this Assignment and
to consummate the transactions contemplated hereby and to become a Lender under
the Credit Agreement, (ii) it meets all requirements if any, under the
Credit Agreement that are required to be satisfied by it in order to acquire
the Assigned Interest and become a Lender, (iii) from and after the
Effective Date, it shall be bound by the provisions of the Credit Agreement
and, to the extent of the Assigned Interest, shall have the obligations of a
Lender thereunder, (iv) it has received a copy of the Credit Agreement,
together with copies of the most recent financial statements delivered pursuant
to Section 6.1 thereof, as applicable, and such other documents and
information as it has deemed appropriate to make its own credit analysis and
decision to enter into this Assignment and to purchase the Assigned Interest on
the basis of which it has made such analysis and decision, and (v) if it
is a Non-US Lender, attached to the Assignment is any documentation required to
be delivered by it pursuant to the terms of the Credit Agreement, duly completed
and executed by the Assignee; and (b) agrees that (i) it will,
independently and without reliance on Administrative Agent, the Assignor or any
other Lender, and based on such documents and information as it shall deem
appropriate at the time, continue to make its own credit decisions in taking or
not taking action under the Loan Documents, and (ii) it will perform in
accordance with their terms all of the obligations which by the terms of the
Loan Documents are required to be performed by it as a Lender.

 

4

 

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

 

3.             General Provisions. This
Assignment shall be binding upon, and inure to the benefit of, the parties
hereto and their respective successors and assigns. This Assignment may be
executed in any number of counterparts, which together shall constitute one
instrument. Delivery of an executed counterpart of a signature page of
this Assignment by telecopy shall be effective as delivery of a manually
executed counterpart of this Assignment. THIS AGREEMENT SHALL BE CONSTRUED IN
ACCORDANCE WITH LAWS OF THE STATE OF NEW YORK.

 

5Exhibit 10.3

 

EXECUTION
COPY

 

AMENDMENT NO. 1 TO THE

CREDIT AGREEMENT

 

Dated as of August 13, 2010

 

AMENDMENT NO. 1 TO THE CREDIT
AGREEMENT among AON CORPORATION, a
Delaware corporation (the “Borrower”), the banks, financial institutions
and other institutional lenders parties to the Credit Agreement referred to
below (collectively, the “Lenders”) and CITIBANK, N.A., as
administrative agent (the “Administrative Agent”) for the Lenders.

 

PRELIMINARY STATEMENTS:

 

1.             The
Lenders have agreed to extend credit to the Borrower under the Credit Agreement
on the terms and subject to the conditions set forth therein; and

 

2.             The
Borrower has requested that the Lenders amend certain provisions of the Credit
Agreement, and the Lenders whose signatures appear below, constituting at least
the Required Lenders, are willing to amend the Credit Agreement on the terms
and subject to the conditions set forth herein.

 

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

 

SECTION
1.  Defined Terms.  Capitalized terms used but not otherwise
defined herein (including in the recitals hereto) have the meanings assigned to
them in the Credit Agreement.

 

SECTION
2.  Amendments to the Credit
Agreement.  (a) Section 1.1 of the
Credit Agreement is hereby amended as follows:

 

(i)            The
definition of “Cananwill Securitization” is hereby amended and restated in its
entirety to read as follows:

 

““Cananwill Securitization”
means each of (i) the Second Amended and Restated Purchase Agreement, dated as
of March 30, 2001, by and among Cananwill Premium Credit Trust, Cananwill
Corporation, the Borrower, the Purchasers and Managing Agents listed on the
signature pages thereto and JP Morgan Chase Bank, N.A. (successor by merger to
Bank One, NA), as Administrative Agent, (ii) the Receivables Purchase
Agreement, dated as of December 11, 2002, by and among Cananwill Canada
Limited, the Borrower and CIBC Mellon Trust Company, in its capacity as Trustee
of Plaza Trust, (iii) the Amended and Restated Receivables Purchase Agreement,
dated as of December 19, 2002, by and among Cananwill Receivables Purchase
Facility, L.L.C., Cananwill Europe Limited, the Borrower, the Purchasers and
Managing Agents listed on the signature pages thereto and JP Morgan Chase Bank,
N.A. (successor by merger to Bank One, NA), as administrative agent and (iv)
the Receivables 

 

 

Facilities Agreement, dated as of December 20, 2001, by and among Abel
Tasman Holdings Pty Limited, Cananwill Australia Pty Limited, Cananwill, Inc.
and ABN AMRO Asset Management (Australia) Limited, in each case as the same may
be modified, amended or supplemented from time to time, provided that such
modification, amendment or supplement does not change the fundamental nature
thereof.”

 

(ii)           The
definition of “Consolidated Adjusted EBITDA” is hereby amended and restated in
its entirety to read as follows:

 

““Consolidated Adjusted EBITDA”
means, for any Measurement Period, Consolidated Net Income for such period
plus, (a) to the extent deducted from revenues in determining Consolidated Net
Income, (i) Consolidated Interest Expense, (ii) expense for taxes paid or
accrued, (iii) depreciation, (iv) amortization, (v) extraordinary losses
incurred other than in the ordinary course of business, (vi) the Transaction
Costs and (vii) non recurring cash charges incurred for such period in
connection with the Merger in an amount not to exceed $50,000,000 in the
aggregate during the term of this Agreement minus (b) to
the extent included in Consolidated Net Income, extraordinary gains realized
other than in the ordinary course of business, all calculated for the Borrower
and its Subsidiaries on a consolidated basis; provided
that, notwithstanding the foregoing provisions of this definition, no amounts
shall be added pursuant to clauses (i) through (v) for any losses, costs,
expenses or other charges resulting from the settlement of any Disclosed Claims
or any payments in respect of any judgments or other orders thereon or any
restructuring or other charges in connection therewith or relating thereto.”

 

(iii)          The definition of
“Consolidated Leverage Ratio” is hereby amended to add the following proviso at
the end thereof: “; provided that in the event that the Senior Notes are issued
prior to the Term Loan Closing Date and the proceeds thereof are held in escrow
pursuant to arrangements reasonably satisfactory to the administrative agent
under the Term Loan Agreement, the outstanding principal amount of the Senior
Notes for the purpose of determining the Consolidated Leverage Ratio at any
time prior to the Term Loan Closing Date shall be deemed to be the excess (if
any) of the outstanding principal amount of the Senior Notes over the escrowed
proceeds thereof”.

 

(iv)          The
definition of “Euro Facility” is hereby amended and restated in its entirety to
read as follows:

 

““Euro Facility” means the €650,000,000
Facility Agreement dated as of February 7, 2005 by and among the Borrower, the
Subsidiaries of the Borrower party thereto, Citibank International plc, as
agent, and the financial institutions parties thereto as lenders, as the same
may be supplemented, modified and amended from time to time, provided that, in each case, the principal amount of the
credit committed thereunder is not increased without the consent of the
Required Lenders except as contemplated by Section 6.19(b).”

 

2

 

(v)           The
definition of “Reportable Event” is hereby amended to insert immediately
following the reference to “Section 412” the following: “or 430”.

 

(vi)          The
following new defined terms are hereby inserted in the appropriate alphabetical
order:

 

“Bridge
Credit Agreement” means the Senior Bridge Term Loan Credit
Agreement dated on or about the First Amendment Effective Date among the
Borrower, Credit Suisse AG, as administrative agent, and the lenders and agents
party thereto as it may be amended or modified and in effect from time to time
to the extent permitted hereunder.

 

“Bridge Loans” means the “Loans” as defined in the Bridge Credit Agreement.

 

“Company”
means Hewitt Associates, Inc., a Delaware corporation.

 

“FATCA”
means Section 1471 through 1474 of the Code, as in effect on the First
Amendment Effective Date, and any applicable Treasury regulations or published
administrative guidance promulgated thereunder.

 

“First Amendment Effective Date”
means August 13, 2010.

 

“Merger” means the
merger of Merger Sub with and into the Company pursuant to the Merger
Agreement.

 

“Merger Agreement”
means the Agreement and Plan of Merger dated July 11, 2010 among the Borrower,
Merger LLC, Merger Sub and the Company.

 

“Merger Cash Consideration”
means an aggregate amount of approximately $2,450,000,000 in cash to be paid to
the equity holders of the Company pursuant to the Merger Agreement.

 

“Merger Consideration”
means the Merger Cash Consideration and the Merger Equity Consideration.

 

“Merger Equity Consideration”
means the shares of common stock of the Borrower to be delivered to the equity
holders of the Company pursuant to the Merger Agreement.

 

“Merger LLC” means
Alps Merger LLC, a Delaware limited liability company and a wholly owned
subsidiary of the Borrower.

 

“Merger Sub” means
Alps Merger Corp., a Delaware corporation and a wholly owned subsidiary of the
Borrower.

 

3

 

“Senior Notes” means
the up to $1,500,000,000 in aggregate principal amount of senior unsecured
notes of the Borrower issued in a public offering or in a Rule 144A or other
private placement.

 

“Subsequent
Merger” the merger of the surviving corporation in the Merger
with and into Merger LLC, with Merger LLC surviving as a Wholly Owned
Subsidiary of Borrower.

 

“Term Loan
Agreement” means the Three-Year Term Credit Agreement dated on
or about the First Amendment Effective Date among the Borrower, Credit Suisse
AG, as administrative agent, and the lenders and agents party thereto as it may
be amended or modified and in effect from time to time to the extent permitted
hereunder.

 

“Term Loan
Closing Date” means the “Closing Date” as defined in the Term
Loan Agreement.

 

“Transactions”
means (i) the Merger and the Subsequent Merger, including the payment of the
Merger Consideration, (iii) the execution, delivery and performance of the Term
Loan Agreement, (iv) the execution, delivery and performance of the Bridge
Credit Agreement, (v) the issuance of the Senior Notes, and, to the extent the
Borrower is unable to issue the Senior Notes on or prior to the date the Merger
is consummated, the funding of the Bridge Loans and the application of the
proceeds thereof and (vi) payment of the Transaction Costs.

 

“Transactions
Costs” means fees and expenses in an aggregate amount not to
exceed $50,000,000 in connection with the Transactions.

 

(b)           Clause
(a)(iv) of Section 3.5 of the Credit Agreement is hereby amended to insert
immediately following the words “evidencing payment thereof” the following: “,
or other evidence reasonably acceptable to the Administrative Agent,”.

 

(c)           Clause
(d) of Section 3.5 of the Credit Agreement is hereby amended and restated in
its entirety to read as follows:

 

“(d)         Each Lender that is not incorporated or otherwise organized
under the laws of the United States of America or a state thereof (each a “Non-U.S. Lender”) agrees that it
will, not more than ten (10) Business Days after the date of this Agreement
(or, in the case of a Lender who becomes a party hereto after the date of this
Agreement, the date it becomes a party hereto), deliver to each of the Borrower
and the Administrative Agent two duly completed copies of United States
Internal Revenue Service Form W-8BEN or W-8ECI or W-8IMY (and any required attachments),
certifying in either case that such Lender is entitled to receive payments
under this Agreement without deduction or withholding of any United States
federal income taxes.  Each Non-U.S.
Lender further undertakes, to the extent lawful at such time, to deliver to
each of the Borrower and the Administrative Agent (i) renewals or additional
copies of such form (or any successor form) on or before the date that such
form expires or becomes obsolete, 

 

4

 

and (ii) after the occurrence of any event
requiring a change in the most recent forms so delivered by it, such additional
forms or amendments thereto as may be reasonably requested by the Borrower or
the Administrative Agent.  In addition,
each Non-US Lender shall deliver to the Administrative Agent and the Borrower
any documents as shall be prescribed by applicable law or otherwise reasonably
requested to demonstrate that payments to such Lender under this Agreement and
the other Loan Documents are exempt from any United States federal withholding
tax imposed pursuant to FATCA.  All forms
or amendments described in the preceding two sentences shall certify that such
Lender is entitled to receive payments of interest under this Agreement without
deduction or withholding of any United States federal income taxes, unless an
event (including without limitation any change in treaty, law or regulation)
has occurred after the date it became a Lender hereunder and prior to the date
on which any such delivery would otherwise be required which renders all such
forms inapplicable or which would prevent such Lender from duly completing and
delivering any such form or amendment with respect to it and such Lender
advises the Borrower and the Administrative Agent that it is not capable of
receiving payments of interest without any deduction or withholding of United
States federal income tax.  For purposes
of this Section 3.5(d), each change of a Lender’s Lending Installation in accordance
with Section 2.17 shall be treated as though such Lending Installation became a
party hereto on the date of such change of Lending Installation.”

 

(d)           Clause
(e) of Section 3.5 of the Credit Agreement is hereby amended to insert
immediately following the word “form” in each instance where it appears the
following: “or other document”.

 

(e)           Section
3.5 of the Credit Agreement is hereby amended to add the following clause (h)
as the last clause thereof:

 

“(h)         Each Lender that is not a Non-U.S. Lender shall deliver to
the Borrower and the Administrative Agent, in the case of any Lender that
becomes a party hereto after the First Amendment Effective Date, on or prior to
the date on which such Lender becomes a Lender under this Agreement, and in the
case of each Lender, from time to time upon the request of the Borrower or the
Administrative Agent, executed originals of Internal Revenue Service Form W-9
or such other documentation or information prescribed by applicable laws or
reasonably requested by the Borrower or the Administrative Agent as will enable
the Borrower or the Administrative Agent, as the case may be, to determine
whether or not such Lender is subject to backup withholding or information
reporting requirements.”

 

(f)            The
second sentence of Section 5.3 of the Credit Agreement is hereby amended (i) to
delete the words “execution and delivery” and to substitute the phrase
“execution, delivery and performance” therefor and (ii) to delete the words “or
any other transaction contemplated in the Loan Documents”.

 

5

 

(g)           The
first sentence of Section 5.4 of the Credit Agreement is hereby amended (i) to
delete the “,” immediately following the reference therein to “any of the Loan
Documents” and to substitute the word “or” therefor and (ii) to delete the
words “or any other transactions contemplated in the Loan Documents”.

 

(h)           The
first sentence of Section 5.14 of the Credit Agreement is hereby amended to
delete the phrase “or which restricts or imposes conditions on the ability of
any Subsidiary to (a) pay dividends or make other distributions on its capital
stock, (b) make loans or advances to the Borrower or (c) repay loans or
advances from the Borrower”.

 

(i)            Clause
(e) of Section 6.1(e) of the Credit Agreement is hereby amended to insert the
following proviso at the end thereof:

 

“; provided that
no such notice shall be required to be given unless such Termination Event
could reasonably be expected to result in liabilities of the Borrower in excess
of $25,000,000.”

 

(j)            Clause
(a)(i) of Section 6.4 of the Credit Agreement is hereby amended to insert
immediately following the words “as now conducted by the Borrower and its
Subsidiaries” the following: “or the Company and its Subsidiaries”.

 

(k)           Section
6.15 of the Credit Agreement is hereby amended and restated in its entirety to
read as follows:

 

“Section 6.15         Restrictive
Agreements.  The Borrower
shall not, nor shall it permit any Subsidiary to, enter into any indenture,
agreement, instrument or other arrangement which, directly or indirectly
prohibits, or has the effect of prohibiting, or imposes materially adverse
conditions upon, the ability of any Subsidiary to (i) pay dividends or make
other distributions on its capital stock to the Borrower or any other
Subsidiary, (ii) make loans or advances to the Borrower or any other Subsidiary
or (iii) repay loans or advances from the Borrower or any other Subsidiary,
except (A) restrictions and limitations imposed by Law or by the Loan
Documents, (B) customary restrictions and limitations contained in agreements
relating to the sale of a Subsidiary or its assets that is permitted hereunder,
(C) restrictions and conditions imposed by agreements relating to Indebtedness
of any Subsidiary in existence at the time such Subsidiary becomes a Subsidiary
not created in contemplation of or in connection with such Subsidiary becoming
a Subsidiary (or any refinancing or amendment thereof that does not result in a
materially more restrictive restriction or condition); provided that
such restrictions and conditions apply only to such Subsidiary and its
respective Subsidiaries, (D) in the case of any Subsidiary that is not a
wholly-owned Subsidiary, customary restrictions and conditions imposed by its
organizational documents or any joint venture or similar agreement, (E) solely
for the first 60 days following the Term Loan Closing Date, restrictions set
forth in any indenture, agreement, instrument or other arrangement to which the
Company or any of its Subsidiaries is party as of the First Amendment Effective
Date and (F) 

 

6

 

any other restrictions that could not reasonably
be expected to impair the Borrower’s ability to repay the Obligations as and
when due.”

 

(l)            Clause
(c) of Section 6.16 of the Credit Agreement is hereby amended and restated in
its entirety to read as follows: “(c)  [Reserved];”.

 

(m)          Clause
(f) of Section 6.16 of the Credit Agreement is hereby amended to delete the
word “consolidated” in each instance where it appears and substitute therefor
the word “Consolidated”.

 

(n)           Clause
(b) of Section 6.19 of the Credit Agreement is hereby amended and restated in
its entirety to read as follows:

 

“(b)         Indebtedness under the Euro Facility, and any renewal and
refinancing thereof, provided (i) that the committed amount thereof is not
increased to an aggregate amount greater than €850,000,000 and (ii) no other
Subsidiary (other than a Subsidiary that becomes a borrower thereunder) becomes
obligated in respect thereof;”

 

(o)           Clause
(e) of Section 6.19 of the Credit Agreement is hereby amended to delete the “,”
immediately following the words “any renewal and refinancing thereof” and to
substitute therefor the following: “(including any other Subsidiary becoming a
primary obligor in respect thereof);”.

 

SECTION
3.  Representations and Warranties.  The Borrower hereby represents and warrants
to the Administrative Agent and to each of the Lenders, as of the date hereof
(as defined below), that:

 

(a)  The
execution, delivery and performance by the Borrower of this Amendment have been
duly authorized by all necessary corporate or other organizational and, if
required, stockholder or other equityholder action.  This Amendment has been duly executed and
delivered by the Borrower and this Amendment and the Credit Agreement, as
amended by this Amendment, constitute legal, valid and binding obligations of
the Borrower, enforceable against it in accordance with its terms, subject to
applicable bankruptcy, insolvency, reorganization, moratorium and other laws
affecting creditors’ rights generally and to general principles of equity,
regardless of whether considered in a proceeding in equity or at law.

 

(b)  The
representations and warranties of the Borrower set forth in the Credit
Agreement, after giving effect to this Amendment, and the other Loan Documents
are true and correct on and as of the date hereof, except in the case of any
such representation or warranty that expressly relates to an earlier date, in
which case such representation or warranty is true and correct in all material
respects on and as of such earlier date.

 

(c)  On and
as of the date hereof, after giving effect to this Amendment, no Default has
occurred and is continuing.

 

7

 

SECTION
4.  Effectiveness.  This Amendment shall become effective as of
the date hereof so long as the Administrative Agent shall have received duly
executed counterparts hereof that, when taken together, bear the authorized
signatures of the Borrower and Lenders constituting at least the Required
Lenders.

 

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

 

(b)           On and after the date hereof, each
reference in the Credit Agreement to “this Agreement”, “hereunder”, “hereof”,
“herein”, or words of like import, and each reference to the Credit Agreement
in any other Loan Document shall be deemed to be a reference to the Credit
Agreement as amended hereby.  This
Amendment shall constitute a “Loan Document” for all purposes of the Credit
Agreement and the other Loan Documents.

 

SECTION 6.  Applicable Law.  THIS AMENDMENT SHALL
BE CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK.

 

SECTION
7.  Counterparts.  This Amendment may be executed in
counterparts (and by different parties hereto on different counterparts), each
of which shall constitute an original but all of which, when taken together,
shall constitute a single contract. 
Delivery of an executed counterpart of a signature page of this
Amendment by facsimile or other electronic imaging shall be as effective as
delivery of a manually executed counterpart of this Amendment.

 

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

 

SECTION
9.  Headings.  The Section headings used herein are for
convenience of reference only, are not part of this Amendment and shall not affect
the construction of, or be taken into consideration in interpreting, this
Amendment.

 

8

 

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

 

 

	
   

  	
  AON CORPORATION,

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By

  	
   

  	
  /s/ Christa Davies

  
	
   

  	
   

  	
   

  	
  Name:

  	
  Christa Davies

  
	
   

  	
   

  	
   

  	
  Title:

  	
  CFO

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  CITIBANK, N.A., individually and as Administrative
  Agent,

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By

  	
   

  	
  /s/ Maureen Maroney

  
	
   

  	
   

  	
   

  	
  Name:

  	
  Maureen Maroney

  
	
   

  	
   

  	
   

  	
  Title:

  	
  Authorized Signatory

  

 

 

	
   

  	
  JPMORGAN CHASE BANK, N.A.

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  by

  	
   

  	
  /s/ Melvin D. Jackson

  
	
   

  	
   

  	
   

  	
  Name:

  	
  Melvin D. Jackson

  
	
   

  	
   

  	
   

  	
  Title:

  	
  Vice President

  

 

 

	
   

  	
  ROYAL BANK OF CANADA

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  by

  	
   

  	
  /s/ Tim Stephens

  
	
   

  	
   

  	
   

  	
  Name:

  	
  Tim Stephens

  
	
   

  	
   

  	
   

  	
  Title:

  	
  Authorized Signatory

  

 

 

	
   

  	
  The Royal Bank of Scotland PLC

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  by

  	
   

  	
  /s/ Joseph Lux

  
	
   

  	
   

  	
   

  	
  Name:

  	
  Joseph Lux

  
	
   

  	
   

  	
   

  	
  Title:

  	
  Managing Director

  

 

 

	
   

  	
  Wells Fargo Bank, National Association

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  by

  	
   

  	
  /s/ Casey Connelly

  
	
   

  	
   

  	
   

  	
  Name:

  	
  Casey Connelly

  
	
   

  	
   

  	
   

  	
  Title:

  	
  Vice President

  

 

 

	
   

  	
  Bank of America, N.A.

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  by

  	
   

  	
  /s/ Scott W. Reynolds

  
	
   

  	
   

  	
   

  	
  Name:

  	
  Scott W. Reynolds

  
	
   

  	
   

  	
   

  	
  Title:

  	
  Vice President

  

 

 

	
   

  	
  Credit Suisse AG, Cayman Islands Branch

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By

  	
   

  	
  /s/ Jay Chall

  
	
   

  	
   

  	
   

  	
  Name:

  	
  Jay Chall

  
	
   

  	
   

  	
   

  	
  Title:

  	
  Director

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By

  	
   

  	
  /s/ Kathrin Marti

  
	
   

  	
   

  	
   

  	
  Name:

  	
  Kathrin Marti

  
	
   

  	
   

  	
   

  	
  Title:

  	
  Assistant Vice President

  

 

 

	
   

  	
  Deutsche AG New York Branch

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  by

  	
   

  	
  /s/ John S. McGill

  
	
   

  	
   

  	
   

  	
  Name:

  	
  John S. McGill

  
	
   

  	
   

  	
   

  	
  Title:

  	
  Director

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By

  	
   

  	
  /s/ Robert Chesley

  
	
   

  	
   

  	
   

  	
  Name:

  	
  Robert Chesley

  
	
   

  	
   

  	
   

  	
  Title:

  	
  Director

  

 

 

	
   

  	
  Name of Institution: Fifth Third Bank

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By

  	
   

  	
  /s/ Kim Puszczewicz

  
	
   

  	
   

  	
   

  	
  Name:

  	
  Kim Puszczewicz

  
	
   

  	
   

  	
   

  	
  Title:

  	
  Vice President

  

 

 

	
   

  	
  Name of Institution: GOLDMAN
  SACHS BANK USA

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By

  	
   

  	
  /s/ Allison O’Connor

  
	
   

  	
   

  	
   

  	
  Name:

  	
  Allison O’Connor

  
	
   

  	
   

  	
   

  	
  Title:

  	
  Authorized Signatory

  

 

 

	
   

  	
  Name of Institution: MORGAN STANLEY BANK, N.A.

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  by

  	
   

  	
  /s/ Sherrese Clarke

  
	
   

  	
   

  	
   

  	
  Name:

  	
  Sherrese Clarke

  
	
   

  	
   

  	
   

  	
  Title:

  	
  Authorized Signatory

  

 

 

	
   

  	
  State Street Bank and Trust Company

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  by

  	
   

  	
  /s/ Deirdre M. Holland

  
	
   

  	
   

  	
   

  	
  Name:

  	
  Deirdre M. Holland

  
	
   

  	
   

  	
   

  	
  Title:

  	
  Vice President

  

 

	
   

  	
  Name of Institution: THE BANK OF NOVA SCOTIA

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  by

  	
   

  	
  /s/ David Mahmood

  
	
   

  	
   

  	
   

  	
  Name:

  	
  David Mahmood

  
	
   

  	
   

  	
   

  	
  Title:

  	
  Managing Director

  

 

	
   

  	
  Name of Institution: The Northern Trust Company

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By

  	
   

  	
  /s/ Chris McKean

  
	
   

  	
   

  	
   

  	
  Name:

  	
  Chris McKean

  
	
   

  	
   

  	
   

  	
  Title:

  	
  Vice President

  

 

 

	
   

  	
  Name of Institution: UBS LOAN FINANCE LLC

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  by

  	
   

  	
  /s/ Mary E. Evans

  
	
   

  	
   

  	
   

  	
  Name:

  	
  Mary E. Evans

  
	
   

  	
   

  	
   

  	
  Title:

  	
  Associate Director

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Name of Institution: UBS LOAN FINANCE LLC

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By

  	
   

  	
  /s/ April Varner-Nanton

  
	
   

  	
   

  	
   

  	
  Name:

  	
  April Varner-Nanton

  
	
   

  	
   

  	
   

  	
  Title:

  	
  Director

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00177-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00177-of-00352.parquet"}]]