Document:

Exhibit
10.26.3

 

3rd
AMENDMENT TO THE DISTRIBUTION AGREEMENT

 

This Third Amendment to
the Distribution Agreement (“AGREEMENT”), is entered into as of July 1, 2003 by
and between MedImmune, Inc., a Delaware Corporation, having its principal place
of business at 35 West Watkins Mill Road, Gaithersburg, MD 20878 (“MEDIMMUNE”)
and Abbott International, Ltd., a Delaware Corporation, having its principal
place of business at 200 Abbott Park Road, Abbott Park, IL 60064.

 

WITNESSETH

 

WHEREAS, MEDIMMUNE and
Abbott International, Ltd entered into a Distribution Agreement as of December
1, 1997 that was subsequently amended on April 28, 1999 and October 8, 1999
(collectively the “DISTRIBUTION AGREEMENT”); and

 

WHEREAS, the Parties
desire to further amend the DISTRIBUTION AGREEMENT.

 

NOW, THEREFORE, the
parties agree to the following terms and conditions:

 

1.             DEFINITIONS

 

1.1           All fully capitalized
terms used in this AGREEMENT have the same meaning as in the DISTRIBUTION
AGREEMENT, except as otherwise defined above.

 

2.             AMENDMENT

 

2.1           The
following language is added to the end of Section 3.2(a)(ii): (CONFIDENTIAL
TREATMENT HAS BEEN REQUESTED).”

2.2  Section 3.3(a)(i)(B) is hereby amended by
deleting the provision in its entirety and replacing it with the following:

 

“3.3(a)(i)(B)(1) (CONFIDENTIAL TREATMENT HAS BEEN REQUESTED)”

 

1

 

2.3  The following new Section 3.3(a)(i)(B)(2) is
hereby added to the DISTRIBUTION AGREEMENT:

 

“3.3(a)(i)(B)(2)       (CONFIDENTIAL
TREATMENT HAS BEEN REQUESTED)”

 

2.4  Section 3.3(a)(ii) is hereby amended by
adding the following language to the beginning of the paragraph:
“3.3(a)(ii)(A)  For all Product
delivered to the carrier before July 1, 2003,”

 

2.5  The following new Section 3.3 (a)(ii)(B) is
hereby added to the DISTRIBUTION AGREEMENT:

 

“3.3(a)(ii)(B)          For all PRODUCT
delivered to a carrier designated by ABBOTT on or after July 1, 2003:

 

(1)  The additional amount due, if any, for
PRODUCT sold in a CALENDAR QUARTER under Section 3.2 (as calculated under
Section 3.3(a)(ii)(B)(2)) will be paid to MEDIMMUNE within forty-five days
after the end of each CALENDAR QUARTER in accordance with this Section
3.3(a)(ii)(B).

 

(2) The additional amount due, if any, for PRODUCT sold in a CALENDAR
QUARTER (CONFIDENTIAL TREATMENT HAS BEEN REQUESTED), is calculated as follows:

(CONFIDENTIAL TREATMENT HAS BEEN REQUESTED)

(4)  Whenever for the purpose of
calculating payment, conversion from any foreign currency shall be required,
such conversion shall be completed for each month of the CALENDAR QUARTER as
follows:  the conversion methodology for
sales shall be calculated (CONFIDENTIAL TREATMENT HAS BEEN REQUESTED)

 

2

 

3.             EFFECT

 

3.1           Effective as of
December 1, 2003 and solely for purposes of calculating amounts due under
sections 7(iv) and 7(v), the term “CONTRACT YEAR” shall mean the 12  month
period commencing on December 1 of each CALENDAR YEAR and ending on November 30
of the immediately following CALENDAR YEAR. 
For any CONTRACT YEAR, if MEDIMMUNE is entitled to payment under
sections 7(iv) or 7(v) for sales during that CONTRACT YEAR, ABBOTT agrees to
provide MEDIMMUNE with written notification that MEDIMMUNE is entitled to such
payment within 30 days after the end of such CONTRACT YEAR.

 

3.2           The DISTRIBUTION
AGREEMENT is amended as provided hereinabove as of July 1, 2003 in accordance
with Section 14.3 of the DISTRIBUTION AGREEMENT.  All other items and provisions of the DISTRIBUTION AGREEMENT
shall be unaffected by this AGREEMENT and continue in full force and effect.

 

[Remainder
of this page intentionally left blank.]

 

3

 

IN WITNESS WHEREOF, the
parties have each caused this AGREEMENT to be signed and delivered by its duly
authorized officer or representative as indicated below.

 

	
  ABBOTT INTERNATIONAL,
  LTD

  	
  MEDIMMUNE, INC.

  
	
   

  	
   

  
	
  By:

  	
  /s/

  	
   

  	
  By:

  	
  /s/ Melvin D. Booth

  	
   

  
						

 

 

JOINDER

 

 

The undersigned, Abbott
Laboratories, an Illinois corporation, hereby consents to this AGREEMENT and
joins in the execution of this AGREEMENT for the purpose of obligating itself
to the obligations and undertakings of Abbott International Ltd., as set forth
in this AGREEMENT.

 

 

ABBOTT LABORATORIES

 

	
  By:

  	
  /s/

  	
   

  	
   

  

 

4Exhibit
10.1(h)

 

EIGHTH AMENDMENT

 

THIS
EIGHTH AMENDMENT (this “Eighth Amendment”), dated as of September
3, 2003, is entered into by and among LOUISIANA-PACIFIC CORPORATION, a
Delaware corporation (the “Borrower”), BANK OF AMERICA, N.A., as agent
for the Lenders (the “Administrative Agent”) and those financial
institutions parties to the Credit Agreement as defined below (collectively,
the “Lenders”) signatory hereto.

 

RECITALS

 

A.                                   The
Borrower, the Lenders and the Administrative Agent are parties to a Credit
Agreement dated as of November 15, 2001 (as amended or modified from time to
time, the “Credit Agreement”), pursuant to which the Administrative
Agent and the Lenders have extended certain credit facilities to the Borrower.

 

B.                                     The
Borrower has asked the Lenders to reduce the Aggregate Commitments, release
certain Collateral and to otherwise amend the Credit Agreement in certain
respects, and subject to the terms and conditions of this Eighth Amendment, the
Lenders have agreed to do so.

 

NOW,
THEREFORE, for valuable consideration, the receipt and adequacy of which are
hereby acknowledged, the parties hereby agree as follows:

 

1.                                       Defined Terms. 
Unless otherwise defined herein, capitalized terms used herein shall
have the meanings assigned to them in the Credit Agreement (as amended hereby).

 

2.                                       Amendment to Credit Agreement.

 

(a)                                  The Credit Agreement (exclusive of
Schedules and Exhibits) is hereby amended to read as shown on the version of
the Credit Agreement attached hereto as Attachment A.

 

(b)                                 All Schedules and Exhibits to the Credit
Agreement are hereby amended and restated as attached hereto and, if not so
amended and restated, are hereby deleted. 
In connection with the amendment and restatement of Schedule 2.01
to the Credit Agreement, the Lenders hereby waive any notice of reduction in
Commitment required by the Credit Agreement.

 

3.                                       Release of Collateral. 
On the Effective Date, the Administrative Agent will execute and deliver
to the Borrower such releases, reconveyances, termination statements or other
documents (“Release Documents”) as may be required to release the Lien of the
Administrative Agent (for the benefit of the Lenders) on all Collateral (as
such term is used in the Credit Agreement prior to its amendment hereby)

 

 

except for such Restricted
Cash Collateral as may be required to cause the Collateral Value of the
Borrowing Base to be not less than the Total Outstandings as of the Effective
Date (the “Retained Cash Collateral”). 
As of the Effective Date, all Collateral Documents relating to any
Collateral other than the Retained Cash Collateral are hereby terminated and
any security interests granted thereunder are hereby released (except for
security interests in the Retained Cash Collateral).  The Lenders hereby consent to such termination and release.  On the first (1st ) Business Day following
the Effective Date, the Administrative Agent will remit to the Borrower the
amount of Restricted Cash Collateral in excess of the Retained Cash Collateral.

 

4.                                       Waiver.  Lenders
hereby waive any Default or Event of Default occurring prior to the Effective
Date which would not constitute a Default or Event of Default under the Credit
Agreement as restated pursuant to this Eighth Amendment (the “Restated Credit
Agreement”) had it been in effect at the time of the occurrence of such Default
or Event of Default.  In addition, the
Lenders hereby waive any Default or Event of Default arising under Section
8.01(d) of the Credit Agreement to the extent that the representation, warranty
or certification which is the subject of such Default or Event of Default is
made with respect to a covenant, term agreement or provision of the Credit
Agreement which was applicable under the Credit Agreement prior to its
restatement in the Restated Credit Agreement but which is not applicable under
the Restated Credit Agreement.  Except
as set forth in the immediately preceding sentence, nothing contained herein
shall be deemed a waiver of (or otherwise affect the Administrative Agent’s or
the Lenders’ ability to enforce) any Default or Event of Default under the
Restated Credit Agreement, whether arising before or after the Effective Date.

 

5.                                       Representations and Warranties. 
The Borrower hereby represents and warrants, as of the Effective Date
(as defined in Section 7 below), to the Administrative Agent and each of
the Lenders as follows:

 

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

 

(b)                                 The execution, delivery and performance
by the Borrower of this Eighth Amendment have been duly authorized by all
necessary corporate and other action and do not and will not require any
registration with, consent or approval of, notice to or action by, any Person
(including any Governmental Authority) in order to be effective and
enforceable.  The Credit Agreement as
amended by this Eighth Amendment constitutes a legal, valid and binding
obligation of the Borrower, enforceable against the Borrower in accordance with
its respective terms, without defense, counterclaim or offset except as such
enforcement may be limited by applicable bankruptcy, insolvency, reorganization
or other similar laws relating to or limiting creditors’ rights generally or by
equitable principles relating to enforceability whether enforcement is sought
in a proceeding at law or in equity.

 

(c)                                  After giving effect to this Eighth
Amendment, all representations and warranties made by it contained in the
Credit Agreement are true and

 

2

 

correct as though
made on and as of the Effective Date (except to the extent such representations
and warranties specifically relate to an earlier date, in which case they were
true and correct as of such earlier date).

 

(d)                                 It is entering into this Eighth Amendment
on the basis of its own investigation and for its own reasons, without reliance
upon the Administrative Agent, any Lender (except for performance of the terms
hereof applicable to them) or any other person.

 

6.                                       Amendment Fee. 
In consideration of the execution of this Eighth Amendment, the Borrower
agrees to pay, as a condition to the effectiveness of this Eighth Amendment, to
the Administrative Agent (i) for the benefit of each Lender, an amendment fee
equal to 0.15 % of the Commitment of each such Lender and (ii) such other fees
for the benefit of the Administrative Agent or Banc of America Securities LLC
as may be agreed in a separate agreement between the Borrower and such parties.

 

7.                                       Effective Date. 
The amendments set forth in paragraph 2 hereof shall become effective as
of the date each of the following conditions has been fulfilled to the
satisfaction of the Lenders or waived by the Lenders (the “Effective Date”):

 

(a)                                  Opinions of Counsel. 
Administrative Agent shall have received opinions satisfactory to it
from counsel for the Borrower and Morrison & Foerster LLP covering such
matters incident to the transactions described herein as Administrative Agent
may reasonably request.  Such opinions
shall be addressed to the Lenders, shall be dated as of the Effective Date, and
shall be otherwise satisfactory in substance and form to Administrative Agent
and Administrative Agent’s counsel.

 

(b)                                 Costs and Expenses.  The
Borrower shall have paid all accrued and unpaid fees, costs and expenses to the
extent then due and payable under the Loan Documents at the Effective Date,
together with reasonable Attorney Costs of BofA to the extent invoiced prior to
or at the Effective Date, together with such additional reasonable amounts of
Attorney Costs as shall constitute BofA’s estimate of reasonable Attorney Costs
incurred or to be incurred through the closing proceedings, provided
that such estimate shall not thereafter preclude final settling of accounts
between the Borrower and BofA.

 

(c)                                  Proceedings. 
All proceedings taken or to be taken in connection with the transactions
contemplated hereby and all documents incident thereto shall be satisfactory in
substance and form to Administrative Agent, and Administrative Agent shall have
received all such counterpart originals or certified or other copies of such
documents as Administrative Agent may reasonably request.

 

(d)                                 Lenders. 
Administrative Agent shall have received executed counterparts of this
Eighth Amendment from all of the Lenders.

 

3

 

(e)                                  Payment of Fee. 
Administrative Agent shall have received payment in full in immediately
available funds of the amendment fee referenced in Section 6 above.

 

(f)                                    Borrowing Base Certificate. 
The Borrower shall have executed and delivered to the Administrative
Agent a Borrowing Base Certificate substantially in the form attached hereto as
Exhibit B showing that, after giving effect to the Eighth Amendment, the Total
Outstandings will not exceed the Collateral Value of the Borrowing Base.

 

(g)                                 Cash Collateral Agreements. 
The Borrower shall have executed and delivered to the Administrative
Agent for the benefit of the Lenders such additional Cash Collateral Agreements
or amendments thereto as the Administrative Agent may require in its sole
discretion.

 

8.                                       Miscellaneous.

 

(a)                                  All terms, covenants and provisions of
the Credit Agreement, after giving effect to this Eighth Amendment, are and
shall remain in full force and effect, and all references therein and in the
other Loan Documents to the Credit Agreement shall henceforth refer to the
Credit Agreement as amended by this Eighth Amendment.  This Eighth Amendment shall be deemed incorporated into, and a
part of, the Credit Agreement.

 

(b)                                 This Eighth Amendment shall be binding
upon and inure to the benefit of the parties hereto and thereto and their
respective successors and assigns.  No
third party beneficiaries are intended in connection with this Eighth
Amendment.

 

(c)                                  This Eighth Amendment shall be governed
by and construed in accordance with the law of the State of New York applicable
to agreements made and to be performed entirely within such state; provided
that the Administrative Agent and each Lender shall retain all rights arising
under federal law.

 

(d)                                 This Eighth Amendment may be executed in
any number of counterparts, each of which shall be deemed an original, but all
of which, when taken together, shall be deemed to constitute but one and the
same instrument.

 

(e)                                  This Eighth Amendment, together with the
Credit Agreement, contains the entire and exclusive agreement of the parties
hereto with reference to the matters discussed herein and therein.  This Eighth Amendment supersedes all prior
drafts and communications with respect thereto.  This Eighth Amendment may not be amended except in accordance
with the provisions of Section 10.01 of the Credit Agreement.

 

(f)                                    If any term or provision of this Eighth
Amendment is deemed prohibited by or invalid under any applicable law, such
provision shall be

 

4

 

invalidated
without affecting the remaining provisions of this Eighth Amendment or the
Credit Agreement, respectively.

 

(g)                                 The Borrower hereby covenants to pay or
to reimburse the Administrative Agent and the Lenders, upon demand, for all
reasonable costs and expenses (including, without limitation, allocated costs
of in-house counsel) incurred in connection with the development, preparation,
negotiation, execution and delivery of this Eighth Amendment.

 

5

 

TABLE
OF CONTENTS

 

	
  Section

  	
   

  
	
   

  
	
  ARTICLE
  I.

  	
  DEFINITIONS
  AND ACCOUNTING TERMS

  
	
  1.01

  	
  Defined Terms

  
	
  1.02

  	
  Other Interpretive
  Provisions

  
	
  1.03

  	
  Accounting Terms

  
	
  1.04

  	
  Rounding

  
	
  1.05

  	
  References to
  Agreements and Laws

  
	
  1.06

  	
  Times
  of Day

  
	
  1.07

  	
  Letter of Credit Amounts

  
	
   

  	
   

  
	
  ARTICLE
  II.

  	
  THE
  COMMITMENTS AND CREDIT EXTENSIONS

  
	
  2.01

  	
  Letters of Credit

  
	
  2.02

  	
  Collateral Coverage; Restricted
  Cash Collateral

  
	
  2.03

  	
  Termination or Reduction of Commitments

  
	
  2.04

  	
  Fees

  
	
  2.05

  	
  Computation of Interest and
  Fees

  
	
  2.06

  	
  Evidence of Debt

  
	
  2.07

  	
  Payments Generally

  
	
  2.08

  	
  Sharing of Payments

  
	
  2.09

  	
  Security.

  
	
   

  	
   

  
	
  ARTICLE III.

  	
  TAXES, YIELD PROTECTION AND ILLEGALITY

  
	
  3.01

  	
  Taxes

  
	
  3.02

  	
  Increased Cost and
  Reduced Return; Capital Adequacy

  
	
  3.03

  	
  Matters Applicable
  to all Requests for Compensation

  
	
  3.04

  	
  Survival

  
	
   

  	
   

  
	
  ARTICLE
  IV.

  	
  CONDITIONS
  PRECEDENT TO Credit Extensions

  
	
  4.01

  	
  Conditions of Initial Credit
  Extension

  
	
  4.02

  	
  Conditions to all Credit Extensions

  
	
   

  	
   

  
	
  ARTICLE V.

  	
  REPRESENTATIONS
  AND WARRANTIES

  
	
  5.01

  	
  Existence,
  Qualification and Power; Compliance with Laws

  
	
  5.02

  	
  Authorization; No
  Contravention

  
	
  5.03

  	
  Governmental
  Authorization; Other Consents

  
	
  5.04

  	
  Binding Effect

  
	
  5.05

  	
  Financial Statements; No
  Material Adverse Effect

  
	
  5.06

  	
  Litigation

  
	
  5.07

  	
  Ownership of Property; Liens

  
	
  5.08

  	
  Insurance

  
	
  5.09

  	
  Taxes

  
	
  5.10

  	
  ERISA Compliance

  
	
  5.11

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

  
	
  5.12

  	
  Disclosure

  
	
  5.13

  	
  Compliance with Laws

  
	
  5.14

  	
  Tax Shelter Regulations

  

 

i

 

	
  5.15

  	
  Collateral Documents

  	 

	
   

  	
   

  	 

	
  ARTICLE VI.

  	
  AFFIRMATIVE COVENANTS

  
	
  6.01

  	
  Financial Statements

  	 

	
  6.02

  	
  Certificates; Other
  Information

  	 

	
  6.03

  	
  Notices

  	 

	
  6.04

  	
  Preservation of Existence,
  Etc

  	 

	
  6.05

  	
  Maintenance of Properties

  	 

	
  6.06

  	
  Maintenance of Insurance

  	 

	
  6.07

  	
  Compliance with Laws

  	 

	
  6.08

  	
  Books and Records

  	 

	
  6.09

  	
  Inspection Rights

  	 

	
  6.10

  	
  Compliance with ERISA

  	 

	
  6.11

  	
  Use of Proceeds

  	 

	
   

  	
   

  	 

	
  ARTICLE VII.

  	
  NEGATIVE COVENANTS

  
	
  7.01

  	
  Fundamental Changes

  	 

	
  7.02

  	
  Use
  of Proceeds

  	 

	
   

  	
   

  	 

	
  ARTICLE VIII.

  	
  EVENTS OF
  DEFAULT AND REMEDIES

  
	
  8.01

  	
  Events of Default

  	 

	
  8.02

  	
  Remedies Upon Event of Default

  	 

	
  8.03

  	
  Application of Funds

  	 

	
   

  	
   

  	 

	
  ARTICLE IX.

  	
  ADMINISTRATIVE AGENT

  
	
  9.01

  	
  Appointment and
  Authorization of Administrative Agent

  	 

	
  9.02

  	
  Delegation of Duties

  	 

	
  9.03

  	
  Liability of
  Administrative Agent

  	 

	
  9.04

  	
  Reliance by
  Administrative Agent

  	 

	
  9.05

  	
  Notice of Default

  	 

	
  9.06

  	
  Credit Decision; Disclosure of
  Information by Administrative Agent

  	 

	
  9.07

  	
  Indemnification of
  Administrative Agent

  	 

	
  9.08

  	
  Administrative Agent in its
  Individual Capacity

  	 

	
  9.09

  	
  Successor Administrative
  Agent

  	 

	
  9.10

  	
  Administrative Agent May File
  Proofs of Claim

  	 

	
  9.11

  	
  Collateral Matters

  	 

	
  9.12

  	
  Other Agents; Arrangers and
  Managers

  	 

	
   

  	
   

  	 

	
  ARTICLE X.

  	
  MISCELLANEOUS

  
	
  10.01

  	
  Amendments, Etc

  	 

	
  10.02

  	
  Notices and Other
  Communications; Facsimile Copies

  	 

	
  10.03

  	
  No
  Waiver; Cumulative Remedies

  	 

	
  10.04

  	
  Attorney Costs, Expenses and
  Taxes

  	 

	
  10.05

  	
  Indemnification by the Borrower

  	 

	
  10.06

  	
  Payments Set Aside

  	 

	
  10.07

  	
  Successors and Assigns

  	 

 

ii

 

	
  10.08

  	
  Confidentiality

  
	
  10.09

  	
  Set-off

  
	
  10.10

  	
  Interest Rate Limitation

  
	
  10.11

  	
  Counterparts

  
	
  10.12

  	
  Integration

  
	
  10.13

  	
  Survival of
  Representations and Warranties

  
	
  10.14

  	
  Severability

  
	
  10.15

  	
  Tax
  Forms

  
	
  10.16

  	
  Replacement of Lenders

  
	
  10.17

  	
  Governing Law

  
	
  10.18

  	
  Waiver of Right to Trial by Jury

  
	
  10.19

  	
  Time of the Essence

  

 

iii

 

CREDIT
AGREEMENT

 

This CREDIT AGREEMENT (“Agreement”)
is entered into as of November 15, 2001, among LOUISIANA-PACIFIC CORPORATION, a
Delaware corporation (the “Borrower”), each lender from time to time
party hereto (collectively, the “Lenders” and individually, a “Lender”),
and BANK OF AMERICA, N.A., as Administrative Agent and an L/C Issuer.

 

The Borrower has
requested that the Lenders provide a revolving letter of credit facility, and
the Lenders are willing to do so on the terms and conditions set forth herein.

 

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

 

ARTICLE
I.

DEFINITIONS AND ACCOUNTING TERMS

 

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

 

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

 

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

 

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

 

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

 

“Aggregate Commitments”
means the Commitments of all the Lenders.

 

“Agreement” means
this Credit Agreement.

 

“Arrangers” means
Banc of America Securities LLC, in its capacity as joint lead arranger and sole
book manager (“BAS”) and Wachovia Securities, in its capacity as joint
lead arranger.

 

1

 

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

 

“Attorney Costs”
means and includes all fees, expenses and disbursements of any law firm or
other external counsel and, without duplication, the allocated cost of internal
legal services and all expenses and disbursements of internal counsel.

 

“Audited Financial
Statements” means the audited consolidated balance sheet of the Borrower
and its Subsidiaries for the fiscal year ended December 31, 2002, and the
related consolidated statements of income or operations, stockholders’ equity
and cash flows for such fiscal year of the Borrower and its Subsidiaries,
including the notes thereto.

 

“Auto-Renewal Letter
of Credit” has the meaning specified in Section 2.01(b)(iii).

 

“Availability Period”
means the period from and including the Closing Date to the earliest of (a) the
Maturity Date, (b) the date of termination of the Aggregate Commitments
pursuant to Section 2.03, and (c) the date of termination of the
commitment of the L/C Issuer to make L/C Credit Extensions pursuant to Section
8.02.

 

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

 

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

 

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

 

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

 

“Borrowing Base
Certificate” means a certificate substantially in the form attached hereto
as Exhibit B, certified as true and correct by a Responsible Officer of
the Borrower.

 

“Business Day”
means any day other than a Saturday, Sunday or other day on which commercial
banks are authorized to close under the Laws of, or are in fact closed in, the
state where the Administrative Agent’s Office is located.

 

“Cash Equivalents”
means (a) Dollars; (b) securities issued or directly and fully guaranteed or
insured by the United States government or any Governmental Authority thereof
(provided that the full faith and credit of the United States is pledged in
support of those securities) having maturities of not more than six months from
the date of acquisition; (c) certificates of deposit and eurodollar time
deposits with maturities of six months or less from the date of acquisition,
bankers’ acceptances with maturities not exceeding six months and overnight

 

2

 

bank deposits, in each
case, with any Lender or with any domestic commercial bank having capital and
surplus in excess of $500,000,000 and a Thomson Bank Watch Rating of “B” or
better; (d) repurchase obligations with a term of not more than seven days for
underlying securities of the types described in clauses (b) and (c) above
entered into with any financial institution meeting the qualifications in
clause (c) above; (e) commercial paper having the highest rating obtainable
from either Moody’s or S&P and, in each case maturing within six months
after the date of acquisition; (f) money market funds that are rated “AAm” by
S&P and “Aam” by Moody’s or higher; and (g) auction rate securities with an
“A” rating or better from any major rating agency.

 

“Closing Date”
means the first date all the conditions precedent in Section 4.01 are
satisfied or waived in accordance with Section 4.01 waived by the Person
entitled to receive the applicable payment.

 

“Code” means the
Internal Revenue Code of 1986.

 

“Collateral” means
all property covered by the Collateral Documents and any other property, real
or personal, tangible or intangible, now existing or hereafter acquired, that
is subject to a security interest or Lien in favor of the Administrative Agent,
on behalf of itself and the Lenders, to secure the Obligations.

 

“Collateral Documents”
means, collectively, all agreements with respect to the Restricted Cash
Collateral and all other security agreements, mortgages, deeds of trust,
patent, trademark and copyright assignments, lease assignments, guarantees and
other similar agreements between the Borrower, any of its Subsidiaries and the
Lenders, or the Administrative Agent for the benefit of the Lenders, if any,
now or hereafter delivered to the Lenders or the Administrative Agent pursuant
to or in connection with the transactions contemplated hereby, and all
financing statements (or comparable documents now or hereafter filed in accordance
with the UCC or comparable law) against the Borrower or any of its
Subsidiaries, as debtor, in favor of the Lenders, or the Administrative Agent
for the benefit of itself and the Lenders, as secured party.  For avoidance of doubt, the term “Collateral
Documents” shall exclude the Deeds of Trust, the Pledge Agreements and the
Security Agreement (as defined in this Credit Agreement prior to its
restatement pursuant to the Eighth Amendment).

 

“Collateral Value of
the Borrowing Base” shall mean, at any date, ninety-one percent (91%) of
the amount of the Restricted Cash Collateral.

 

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

 

“Commitment Fee
Percentage” means 0.20% per annum.

 

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

 

3

 

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

 

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

 

“Credit Extension”
means an L/C Credit Extension.

 

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

 

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

 

“Default Rate”
means an interest rate equal to (a) the Base Rate plus (b) 2.0% per
annum, to the fullest extent permitted by applicable Laws.

 

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

 

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

 

“Eighth Amendment”
means the Eighth Amendment to Credit Agreement among the Borrower, the Agent
and the Lenders dated as of September 3, 2003.

 

“Eligible Assignee”
has the meaning specified in Section 10.07(g).

 

“Environmental Laws”
means any and all Laws relating to pollution and the protection of the
environment or the release of any materials into the environment, including
those related to hazardous substances or wastes, air emissions and discharges
to waste or public systems.

 

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

 

4

 

“ERISA” means the
Employee Retirement Income Security Act of 1974, and any regulations issued
pursuant thereto.

 

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

 

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

 

“Event of Default”
means any of the events or circumstances specified in Article VIII.

 

“Excess Amount”
has the meaning given such term in Section 2.02.

 

“Existing Letters of
Credit” has the meaning specified in Section 2.01(k).

 

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

 

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

 

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

 

“GAAP” means
generally accepted accounting principles in the United States set forth in the
opinions and pronouncements of the Accounting Principles Board and the American
Institute

 

5

 

of Certified Public
Accountants and statements and pronouncements of the Financial Accounting
Standards Board or such other principles as may be approved by a significant
segment of the accounting profession in the United States, that are applicable
to the circumstances as of the date of determination, consistently applied.

 

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

 

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

 

“Honor Date” has
the meaning specified in Section 2.01(c)(i).

 

“Indemnified
Liabilities” has the meaning set forth in Section 10.05.

 

“Indemnitees” has
the meaning set forth in Section 10.05.

 

“Indentures”
means, collectively, the Senior Note Indentures and the Senior Subordinated
Note Indenture.

 

“IRS” means the
United States Internal Revenue Service.

 

“Laws” means,
collectively, all international, foreign, Federal, state and local statutes,
treaties, rules, guidelines, regulations, ordinances, codes and administrative
or judicial precedents or authorities, including the interpretation or
administration thereof by any Governmental Authority charged with the
enforcement, interpretation or administration thereof, and all applicable
administrative orders, directed duties, requests, licenses, authorizations and
permits of, and agreements with, any Governmental Authority, in each case
whether or not having the force of law.

 

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

 

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

 

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

 

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

 

6

 

“L/C Obligations”
means, as at any date of determination, the aggregate undrawn amount of all
outstanding Letters of Credit plus the aggregate of all Unreimbursed
Amounts, including all L/C Borrowings.

 

“Lender” has the
meaning specified in the introductory paragraph hereto and, as the context
requires, shall include the L/C Issuers.

 

“Lending Office”
means, as to any Lender, the office or offices of such Lender described as such
on Schedule 10.02, or such other office or offices as a Lender may from
time to time notify the Borrower and the Administrative Agent.

 

“Letter of Credit”
means any letter of credit issued hereunder and shall include each Existing
Letter of Credit.  Letters of Credit
issued hereunder shall be standby letters of credit.

 

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

 

“Letter of Credit
Expiration Date” means February 1, 2006.

 

“Lien” means any
mortgage, pledge, hypothecation, assignment, deposit arrangement, encumbrance,
lien (statutory or other), charge, or preference, priority or other security
interest or preferential arrangement of any kind or nature whatsoever
(including any conditional sale or other title retention agreement, any
financing lease having substantially the same economic effect as any of the
foregoing, and the due filing of any financing statement under the Uniform
Commercial Code or comparable Laws of any jurisdiction), including the interest
of a purchaser of accounts receivable.).

 

“Loan Documents”
means this Agreement, each Collateral Document, the Agent/Arranger Fee Letter,
each Request for Credit Extension, each Compliance Certificate, and all other
documents executed by Borrower and delivered to the Administrative Agent or any
Lender pursuant thereto.

 

“Material Adverse
Effect” means (a) a material adverse change in, or a material adverse
effect upon, the operations, business, properties, condition (financial or
otherwise) or prospects of the Borrower or the Borrower and its Subsidiaries
taken as a whole; (b) a material impairment of the ability of Borrower to
perform its obligations under any Loan Document; or (c) a material adverse
effect upon the legality, validity, binding effect or enforceability against
Borrower of any Loan Document.

 

“Maturity Date”
means (a) February 1, 2005, or (b) such earlier date upon which the Commitments
may be terminated in accordance with the terms hereof.

 

“Maximum Rate” has
the meaning specified in Section 10.10.

 

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

 

“Multiemployer Plan”
means any employee benefit plan of the type described in
Section 4001(a)(3) of ERISA, to which the Borrower or any ERISA Affiliate
makes or is

 

7

 

obligated to make
contributions, or during the preceding five plan years, has made or been
obligated to make contributions.

 

“Obligations”
means all advances to, and debts, liabilities, obligations, covenants and
duties of, Borrower arising under any Loan Document and all advances to, and
debts, liabilities, obligations, covenants and duties of, Borrower otherwise
owing to Administrative Agent, any L/C Issuer or any Lender with respect to any
Letter of Credit, whether direct or indirect (including those acquired by
assumption), absolute or contingent, due or to become due, now existing or
hereafter arising and including interest and fees that accrue after the
commencement by or against Borrower or any Affiliate thereof of any proceeding
under any Debtor Relief Laws naming such Person as the debtor in such
proceeding.

 

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

 

“Other Taxes” has
the meaning specified in Section 3.01(b).

 

“Outstanding Amount”
means on any date, the amount of L/C Obligations on such date after giving
effect to any L/C Credit Extension occurring on such date and any other changes
in the aggregate amount of the L/C Obligations as of such date, including as a
result of any reimbursements of outstanding unpaid drawings under any Letters
of Credit or any reductions in the maximum amount available for drawing under
Letters of Credit taking effect on such date.

 

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

 

“PBGC” means the
Pension Benefit Guaranty Corporation.

 

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

 

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

 

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

 

8

 

“Pro Rata Share”
means, with respect to each Lender at any time, a fraction (expressed as a
percentage, carried out to the ninth decimal place), the numerator of which is
the amount of the Commitment of such Lender at such time and the denominator of
which is the amount of the Aggregate Commitments at such time; provided
that if the obligation of the L/C Issuers to make L/C Credit Extensions has
been terminated pursuant to Section 8.02, then the Pro Rata Share of
each Lender shall be determined based on the Pro Rata Share of such Lender
immediately prior to such termination and after giving effect to any subsequent
assignments made pursuant to the terms hereof. 
The initial Pro Rata Share of each Lender is set forth opposite the name
of such Lender on Schedule 2.01 or in the Assignment and Assumption
pursuant to which such Lender becomes a party hereto, as applicable.

 

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

 

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

 

“Request for Credit
Extension” means a Letter of Credit Application.

 

“Required Lenders”
means, as of any date of determination, Lenders having at least 66-2/3% of the
Aggregate Commitments or, if the obligation of the L/C Issuers to make L/C
Credit Extensions have been terminated pursuant to Section 8.02, Lenders
holding in the aggregate at least 66-2/3% of the Total Outstandings (with the
aggregate amount of each Lender’s risk participation and funded participation
in L/C Obligations being deemed “held” by such Lender for purposes of this
definition); provided that the Commitment of, and the portion of the
Total Outstandings held or deemed held by, any Defaulting Lender shall be
excluded for purposes of making a determination of Required Lenders.

 

“Responsible Officer”
means the chief executive officer, president, chief financial officer, treasurer,
assistant treasurer or controller of Borrower. 
Any document delivered hereunder that is signed by a Responsible Officer
of Borrower shall be conclusively presumed to have been authorized by all
necessary corporate, partnership and/or other action on the part of Borrower
such Responsible Officer shall be conclusively presumed to have acted on behalf
of Borrower.

 

“Restricted Cash
Collateral” means all cash or Cash Equivalents from time to time deposited
in the Restricted Cash Collateral Account.

 

“Restricted Cash
Collateral Account” means (x) a blocked deposit account at Bank of America
(the “Restricted Cash Collateral Deposit Account”) and, at Borrower’s option
prior to the occurrence and continuance of a Default or an Event of Default,
(y) investment accounts at Bank of America and Banc of America Securities LLC
invested in such other Cash Equivalents as directed by the Borrower, which
accounts shall be established pursuant to the Restricted Cash Collateral
Agreements and in which the Administrative Agent shall have a perfected, first
priority security interest, subject only to customary and ordinary Liens in
favor of the financial institution acting as the depository bank or as
securities intermediary to secure payment of fees, costs of administration and
payment of other amounts relating to such account payable by Borrower to such
financial institution.

 

9

 

“Restricted Cash
Collateral Agreements” means a security agreement, account control
agreements or other documents relating to any account which is a Restricted
Cash Collateral Account (including, without limitation, the Amended and
Restated Cash Collateral Agreement between the Company and the Administrative
Agent, the Collateral Account Notification and Acknowledgement among
Administrative Agent, the Borrower and Bank of America as securities
intermediary, and the Collateral Account Notification and Acknowledgement among
Administrative Agent, the Borrower and Banc of America Securities LLC as securities
intermediary, all dated as of December 31, 2002, as amended or modified from
time to time) as the Administrative Agent may require in order to cause
Administrative Agent to have a perfected first priority security interest
therein.  Such documents shall be in
form and substance satisfactory to Administrative Agent in its sole discretion
and be accompanied by legal opinion(s) to Administrative Agent in form and
substance satisfactory thereto relating to the security interest granted
therein and such other matters as Administrative Agent may request.

 

“Restricted Cash
Collateral Deposit Account” shall have the meaning set forth in the
definition of Restricted Cash Collateral Account.

 

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

 

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

 

“Senior Note
Indentures” means, collectively, (a) the First Supplemental Trust
Indenture, dated as of August 18, 2000, between the Borrower and Bank One Trust
Company, N.A. as Trustee, supplementing the Indenture dated as of April 2,
1999, authorizing the issuance and delivery of up to $190,000,000 aggregate
principal amount of 8.500% senior notes due 2005, and (b) the Second
Supplemental Trust Indenture, dated as of August 18, 2000, between the Borrower
and Bank One Trust Company, N.A. as Trustee, supplementing the Indenture dated
as of April 2, 1999, authorizing the issuance and delivery of up to
$200,000,000 aggregate principal amount of 8.875% senior notes due 2010.

 

“Senior Subordinated
Note Indenture” means the Third Supplemental Trust Indenture, dated as of
August 13, 2001, between the Borrower and Bank One Trust Company, N.A. as
Trustee, supplementing the Indenture dated as of April 2, 1999, authorizing the
issuance and delivery of up to $300,000,000 aggregate principal amount of
10.875% senior subordinated notes due 2008.

 

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

 

10

 

“Taxes” has the
meaning specified in Section 3.01(a).

 

“Threshold Amount”
means $25,000,000.00.

 

“Total Outstandings”
means the aggregate of all L/C Obligations.

 

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

 

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

 

“Unreimbursed Amount”
has the meaning set forth in Section 2.01(c)(i).

 

“Wachovia” means
Wachovia Bank, N.A.

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

1.03                        Accounting Terms. 
(a)  All accounting terms not
specifically or completely defined herein shall be construed in conformity
with, and all financial data required to be submitted pursuant to this
Agreement shall be prepared in conformity with, GAAP applied on a

 

11

 

consistent basis, as in effect from time to time,
applied in a manner consistent with that used in preparing the Audited
Financial Statements, except as otherwise specifically prescribed
herein.

 

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

 

1.04                        Rounding.  Any
financial ratios, if any, required to be maintained by the Borrower pursuant to
this Agreement shall be calculated by dividing the appropriate component by the
other component, carrying the result to one place more than the number of
places by which such ratio is expressed herein and rounding the result up or
down to the nearest number (with a rounding-up if there is no nearest number).

 

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

 

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

 

1.07                        Letter of Credit Amounts.  Unless otherwise specified, all references
herein to the amount of a Letter of Credit at any time shall be deemed to mean
the maximum face amount of such Letter of Credit after giving effect to all
increases thereof contemplated by such Letter of Credit or the Letter of Credit
Application therefor, whether or not such maximum face amount is in effect at
such time and after reducing such maximum face amount by any amount by which
the maximum face amount of such Letter of Credit has been permanently reduced..

 

ARTICLE II.

THE COMMITMENTS AND CREDIT EXTENSIONS

 

2.01                        Letters of Credit.

 

(a)                                  The
Letter of Credit Commitment.

 

(i)                                     Subject
to the terms and conditions set forth herein, (A) each L/C Issuer agrees, in
reliance upon the agreements of the other Lenders set forth in this Section
2.01, 

 

12

 

(1) from time to time on
any Business Day during the period from the Closing Date until the Maturity
Date, to issue Letters of Credit for the account of the Borrower and its
Subsidiaries, and to amend or renew Letters of Credit previously issued by it,
in accordance with subsection (b) below, and (2) to honor drafts under the
Letters of Credit; and (B) the Lenders severally agree to participate in
Letters of Credit issued for the account of the Borrower and its Subsidiaries; provided
that no L/C Issuer shall be obligated to make any L/C Credit Extension with
respect to any Letter of Credit, and no Lender shall be obligated to
participate in any Letter of Credit if as of the date of such L/C Credit
Extension, (x) the Total Outstandings would exceed the lesser of
(i) Aggregate Commitments and (ii) the Collateral Value of the
Borrowing Base, or (y) any Lender’s Pro Rata Share of the Outstanding Amount of
all L/C Obligations, would exceed such Lender’s Commitment.  Within the foregoing limits, and subject to
the terms and conditions hereof, the Borrower’s ability to obtain Letters of
Credit shall be fully revolving, and accordingly the Borrower may, during the
foregoing period, obtain Letters of Credit to replace Letters of Credit that
have expired or that have been drawn upon and reimbursed.  With respect to each Existing Letter of
Credit, (i) all undrawn face amounts thereof shall constitute L/C Obligations,
(ii) all drawings thereunder not reimbursed by the Borrower as required in Section
2.01(c)(i) shall constitute Unreimbursed Amounts, and (iii) the
reimbursement obligations with respect thereto shall be governed by the terms
and conditions hereof.

 

(ii)                                  No
L/C Issuer shall be under any obligation to issue or renew or permit renewal of
any Letter of Credit if:

 

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

 

(B)                                subject
to Section 2.01(b)(iii), the expiry date of such requested Letter of Credit
would occur more than thirteen months after the date of issuance or last
renewal, unless the Required Lenders have approved such expiry date;

 

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

 

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

 

13

 

(E)                                 such
Letter of Credit is in an initial amount less than $50,000.00, or is to be
denominated in a currency other than Dollars.

 

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

 

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

 

(i)                                     Each
Letter of Credit shall be issued or amended, as the case may be, upon the
request of the Borrower delivered to an L/C Issuer (with a copy to the
Administrative Agent) in the form of a Letter of Credit Application,
appropriately completed and signed by a Responsible Officer of the Borrower.  Such Letter of Credit Application must be
received by such L/C Issuer and the Administrative Agent not later than 8:00
a.m. San Francisco time at least two Business Days (or such later date and time
as such L/C Issuer may agree in a particular instance in its sole discretion)
prior to the proposed issuance date or date of amendment, as the case may
be.  In the case of a request for an
initial issuance of a Letter of Credit, such Letter of Credit Application shall
specify in form and detail satisfactory to such L/C Issuer: (A) the proposed
issuance date of the requested Letter of Credit (which shall be a Business
Day); (B) the amount thereof; (C) the expiry date thereof; (D) the name and
address of the beneficiary thereof; (E) the documents to be presented by such beneficiary
in case of any drawing thereunder; (F) the full text of any certificate to be
presented by such beneficiary in case of any drawing thereunder; and (G) such
other matters as such L/C Issuer may require. 
In the case of a request for an amendment of any outstanding Letter of
Credit, such Letter of Credit Application shall specify in form and detail
satisfactory to such L/C Issuer (A) the Letter of Credit to be amended; (B) the
proposed date of amendment thereof (which shall be a Business Day); (C) the
nature of the proposed amendment; and (D) such other matters as such L/C Issuer
may require.

 

(ii)                                  Promptly
after receipt of any Letter of Credit Application, the relevant L/C Issuer will
confirm with the Administrative Agent (by telephone or in writing) that the
Administrative Agent has received a copy of such Letter of Credit Application
from the Borrower and, if not, such L/C Issuer will provide the Administrative
Agent with a copy thereof.  Upon receipt
by such L/C Issuer of confirmation from the Administrative Agent that the
requested issuance or amendment is permitted in accordance with the terms
hereof, then, subject to the terms and conditions hereof, such L/C Issuer
shall, on the requested date, issue a Letter of Credit for the account of the Borrower
or enter into the applicable amendment, as the case may be, in each case in
accordance with such L/C Issuer’s usual and customary business practices.  Immediately upon the issuance of each Letter
of Credit, each Lender shall be deemed to, and hereby irrevocably and
unconditionally agrees to, purchase from such L/C Issuer a risk participation
in such Letter of Credit in an amount equal to the product of such Lender’s Pro
Rata Share times the amount of such Letter of Credit.

 

14

 

(iii)                               If
the Borrower so requests in any applicable Letter of Credit Application, an L/C
Issuer may, in its sole and absolute discretion, agree to issue a Letter of
Credit that has automatic renewal provisions (each, an “Auto-Renewal  Letter
of Credit”); provided that any such Auto-Renewal Letter of Credit
must permit such L/C Issuer to prevent any such renewal at least once in each
twelve-month period (commencing with the date of issuance or renewal of such
Letter of Credit) by giving prior notice to the beneficiary thereof not later
than a day (the “Nonrenewal Notice Date”) in each such twelve-month
period to be agreed upon at the time such Letter of Credit is issued.  Unless otherwise directed by such L/C
Issuer, the Borrower shall not be required to make a specific request to such
L/C Issuer for any such renewal.  Once
an Auto-Renewal Letter of Credit has been issued, the Lenders shall be deemed
to have authorized (but may not require) such L/C Issuer to permit the renewal
of such Letter of Credit at any time to an expiry date not later than the
Letter of Credit Expiration Date; provided, however, that such
L/C Issuer shall not permit any such renewal if (A) such L/C Issuer has
determined that it would have no obligation at such time to issue such Letter
of Credit in its renewed form under the terms hereof (by reason of the
provisions of Section 2.01(a)(i) or (ii) or otherwise), (B) it
has received notice (which may be by telephone or in writing) on or before the
day that is five Business Days before the Nonrenewal Notice Date from the
Administrative Agent, any Lender or the Borrower that one or more of the
applicable conditions specified in Section 4.02 is not then
satisfied.  Notwithstanding anything to
the contrary contained herein, no L/C Issuer shall have any obligation to
permit the renewal of any Auto-Renewal Letter of Credit at any time to the
extent such non-renewal is permitted by the terms of such Auto-Renewal Letter
of Credit.

 

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

 

(c)                                  Drawings
and Reimbursements; Funding of Participations.

 

(i)                                     Upon
receipt from the beneficiary of any Letter of Credit of any notice of a drawing
under such Letter of Credit, the L/C Issuer that issued such Letter of Credit
shall notify the Borrower and the Administrative Agent thereof.  Not later than 10:00 a.m. San Francisco time
on the date of any payment by such L/C Issuer under a Letter of Credit (each
such date, an “Honor Date”), the Borrower shall reimburse such L/C
Issuer , with concurrent notice sent to the Administrative Agent, in an amount
equal to the amount of such drawing.  At
Borrower’s option, it may in, lieu of remitting the amount necessary to
reimburse such drawing, send written instruction to the Administrative Agent
not later than 10:00 a.m. San Francisco time, directing Administrative Agent to
debit the Restricted Cash Collateral Deposit Account in the amount necessary to
reimburse such drawing.  Such
instruction shall be accompanied by a Borrowing Base Certificate showing that
after giving effect to such reimbursement (and any permanent reduction in the
amount of the Letter of Credit effected by such drawing), there will be no
shortfall in the Collateral Value of the Borrowing Base.  If the Borrower fails to so reimburse such
L/C Issuer by such time (whether by remitting payment or causing reimbursement
to be made from the Restricted Cash Collateral Deposit Account), the 

 

15

 

Administrative Agent
shall promptly notify each Lender of the Honor Date, the amount of the
unreimbursed drawing (the “Unreimbursed Amount”), and the amount of such
Lender’s Pro Rata Share thereof.

 

(ii)                                  Each
Lender (including the Lender acting as L/C Issuer) shall upon any notice
pursuant to Section 2.01(c)(i) make funds available to the
Administrative Agent for the account of such L/C Issuer at the Administrative
Agent’s Office in an amount equal to its Pro Rata Share of the Unreimbursed
Amount not later than 1:00 p.m. San Francisco time on the Business Day
specified in such notice by the Administrative Agent.  The Administrative Agent shall remit the funds so received to
such L/C Issuer.

 

(iii)                               With
respect to any Unreimbursed Amount, the Borrower shall be deemed to have
incurred from the relevant L/C Issuer an L/C Borrowing in the amount of the
Unreimbursed Amount, which L/C Borrowing shall be due and payable on demand
(together with interest) and shall bear interest at the Default Rate.  In such event, each Lender’s payment to the
Administrative Agent for the account of the relevant L/C Issuer pursuant to Section
2.01(c)(ii) shall be deemed payment in respect of its participation in such
L/C Borrowing and shall constitute an L/C Advance from such Lender in
satisfaction of its participation obligation under this Section 2.01.

 

(iv)                              Until
each Lender funds its L/C Advance pursuant to this Section 2.01(c) to
reimburse the relevant L/C Issuer for any amount drawn under any Letter of
Credit, interest in respect of such Lender’s Pro Rata Share of such amount
shall be solely for the account of such L/C Issuer.

 

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

 

(vi)                              If
any Lender fails to make available to the Administrative Agent for the account
of any L/C Issuer any amount required to be paid by such Lender pursuant to the
foregoing provisions of this Section 2.01(c) by the time specified in Section
2.01(c)(ii), such L/C Issuer shall be entitled to recover from such Lender
(acting through the Administrative Agent), on demand, such amount with interest
thereon for the period from the date such payment is required to the date on
which such payment is immediately available to such L/C Issuer at a rate per
annum equal to the Federal Funds Rate from time to time in effect.  A certificate of such L/C Issuer submitted
to any Lender (through the Administrative Agent) with respect to any amounts
owing under this clause (vi) shall be conclusive absent manifest error.

 

16

 

(d)                                 Repayment
of Participations.

 

(i)                                     At
any time after any L/C Issuer has made a payment under any Letter of Credit and
has received from any Lender such Lender’s L/C Advance in respect of such
payment in accordance with Section 2.01(c), if the Administrative Agent
receives for the account of such L/C Issuer any payment in respect of the
related Unreimbursed Amount or interest thereon (whether directly from the
Borrower or otherwise, including proceeds of Restricted Cash Collateral applied
thereto by the Administrative Agent), the Administrative Agent will distribute
to such Lender its Pro Rata Share thereof (appropriately adjusted, in the case
of interest payments, to reflect the period of time during which such Lender’s
L/C Advance was outstanding) in the same funds as those received by the
Administrative Agent.

 

(ii)                                  If
any payment received by the Administrative Agent for the account of any L/C
Issuer pursuant to Section 2.01(c)(i) is required to be returned under
any of the circumstances described in Section 10.06 (including pursuant to
any settlement entered into by such L/C Issuer in its discretion), each Lender
shall pay to the Administrative Agent for the account of such L/C Issuer its
Pro Rata Share thereof on demand of the Administrative Agent, plus interest
thereon from the date of such demand to the date such amount is returned by
such Lender, at a rate per annum equal to the Federal Funds Rate from time to
time in effect.

 

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

 

(i)                                     any
lack of validity or enforceability of such Letter of Credit, this Agreement, or
any other agreement or instrument relating thereto;

 

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

 

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

 

(iv)                              any
payment by such L/C Issuer under such Letter of Credit against presentation of
a draft or certificate that does not strictly comply with the terms of such
Letter of Credit; or any payment made by such L/C Issuer under such Letter of
Credit to any Person purporting to be a trustee in bankruptcy,
debtor-in-possession, assignee for 

 

17

 

the benefit of creditors,
liquidator, receiver or other representative of or successor to any beneficiary
or any transferee of such Letter of Credit, including any arising in connection
with any proceeding under any Debtor Relief Law; or

 

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

 

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

 

(f)                                    Role
of L/C Issuer.  Each
Lender and the Borrower agree that, in paying any drawing under a Letter of
Credit, no L/C Issuer shall have any responsibility to obtain any document
(other than any sight draft, certificates and documents expressly required by
the Letter of Credit) or to ascertain or inquire as to the validity or accuracy
of any such document or the authority of the Person executing or delivering any
such document.  None of the L/C Issuers,
any Agent-Related Person nor any of the respective correspondents, participants
or assignees of any L/C Issuers shall be liable to any Lender for (i) any
action taken or omitted in connection herewith at the request or with the
approval of the Lenders or the Required Lenders, as applicable; (ii) any action
taken or omitted in the absence of gross negligence or willful misconduct; or
(iii) the due execution, effectiveness, validity or enforceability of any
document or instrument related to any Letter of Credit or Letter of Credit
Application.  The Borrower hereby
assumes all risks of the acts or omissions of any beneficiary or transferee
with respect to its use of any Letter of Credit; provided, however,
that this assumption is not intended to, and shall not, preclude the Borrower’s
pursuing such rights and remedies as it may have against the beneficiary or
transferee at law or under any other agreement.  None of the L/C Issuers, any Agent-Related Person, nor any of the
respective correspondents, participants or assignees of the L/C Issuers, shall
be liable or responsible for any of the matters described in clauses (i)
through (v) of Section 2.01(e); provided, however, that
anything in such clauses or this Section 2.01(f) to the contrary
notwithstanding, the Borrower may have a claim against an L/C Issuer, and such
L/C Issuer may be liable to the Borrower, to the extent, but only to the
extent, of any direct, as opposed to consequential or exemplary, damages
suffered by the Borrower which the Borrower proves were caused by such L/C
Issuer’s willful misconduct or gross negligence or such L/C Issuer’s willful
failure to pay under any Letter of Credit after the presentation to it by the
beneficiary of a sight draft and certificate(s) strictly complying with the
terms and conditions of a Letter of Credit.   In
furtherance and not in limitation of the foregoing, each L/C Issuer may accept
documents that appear on their face to be in order, without responsibility for
further investigation, regardless of any notice or information to the contrary,
and no L/C Issuer shall be responsible for the validity or sufficiency of any
instrument transferring or assigning or purporting to transfer or assign a
Letter of Credit or the rights or benefits thereunder or proceeds thereof, in
whole or in part, which may prove to be invalid or ineffective for any reason.

 

(g)                                 Applicability
of ISP98.  Unless otherwise
expressly agreed by the L/C Issuer and the Borrower when a Letter of Credit is
issued (including any such agreement applicable to an 

 

18

 

Existing Letter of
Credit), the rules of the “International Standby Practices 1998” published by
the Institute of International Banking Law & Practice (or such later
version thereof as may be in effect at the time of issuance) shall apply to
each standby Letter of Credit.

 

(h)                                 Letter
of Credit Fees.  The Borrower shall
pay to the Administrative Agent for the account of each Lender in accordance
with its Pro Rata Share a Letter of Credit fee for each Letter of Credit equal
to .375% per annum times the daily maximum amount available to be drawn
under such Letter of Credit (calculated with reference to the maximum amount in
effect under such Letter of Credit at the time of calculation and not
calculated with reference to the maximum face amount of such Letter of Credit after
giving effect to any increases contemplated therein until such increases
occur).  Such letter of credit fees
shall be computed on a quarterly basis in arrears.  Such letter of credit fees shall be due and payable on the last
Business Day after the end of each March, June, September and December,
commencing with the first such date to occur after the issuance of such Letter
of Credit, on the Letter of Credit Expiration Date and thereafter on demand.

 

(i)                                     Fronting
Fee and Documentary and Processing Charges Payable to L/C Issuer.  The Borrower shall pay directly
to any L/C Issuer that has issued any Letters of Credit, for such L/C Issuer’s
own account, a fronting fee in an amount with respect to each such Letter of
Credit equal to the greater of (i) $1,500 per annum and (ii) .075% per annum on
the daily maximum amount available to be drawn thereunder (calculated with
reference to the maximum amount in effect under such Letter of Credit at the
time of calculation and not calculated with reference to the maximum face
amount of such Letter of Credit after giving effect to any increases
contemplated therein until such increases occur), calculated as of the last day
of each March, June, September and December, and shall be due and payable
quarterly in arrears on each such day (unless such day is not a Business Day,
in which case the payment date shall be extended to the next succeeding
Business Day), commencing with the first such date to occur after the issuance
of such Letter of Credit (or in the case of any Existing Letter of Credit, the
first such date to occur after the Closing Date) and on the Letter of Credit
Expiration Date.  In addition, the
Borrower shall pay directly to each L/C Issuer for its own account the customary
issuance, presentation, amendment and other processing fees, and other standard
costs and charges, of such L/C Issuer relating to letters of credit as from
time to time in effect.  Such fees and
charges are due and payable on demand and are nonrefundable.

 

(j)                                     Conflict
with Letter of Credit Application. 
In the event of any conflict between the terms hereof and the terms of
any Letter of Credit Application, the terms hereof shall control.

 

(k)                                  Existing
Letters of Credit.  The outstanding
standby letters of credit issued for the Borrower by Wachovia identified on Schedule
2.01(k), to which copies of such letters of credit are attached, shall be “Existing
Letters of Credit” hereunder and Wachovia shall have the rights and
obligations of an L/C Issuer under all the provisions of the Loan Documents
with respect to the Existing Letters of Credit.  Wachovia shall exercise any rights or remedies it may have under
any reimbursement agreements executed in connection with the Existing Letters
of Credit and otherwise act in respect of such Existing Letters of Credit at
the direction of the Administrative Agent (at the request of the Required
Lenders to the extent required hereunder). 
In any such exercise or action, Wachovia shall be subject to, and
entitled to the benefits of, Section 9.01.

 

19

 

2.02                        Collateral Coverage; Restricted Cash Collateral .On
or prior to the tenth (10th) Business Day of each month, Borrower shall deliver
to Administrative Agent and each Lender a Borrowing Base Certificate as of the last
Business Day of the immediately preceding month (each such date a “Re-Margin
Date”).  If as of any Re-Margin Date the
Total Outstandings at any time exceeds the lesser of (x) the Aggregate
Commitments then in effect and (y) the Collateral Value of the Borrowing Base,
the Borrower shall deposit into the Restricted Cash Collateral Deposit Account
an amount equal to such excess on or prior to such tenth (10th) Business
Day.  If, as of any Re-Margin Date, the
Collateral Value of the Borrowing Base exceeds the Total Outstandings, the
Administrative Agent, provided no Default or Event of Default exists, shall,
upon written request by Borrower made in the related Borrowing Base
Certificate, remit the amount of such excess (the “Excess Amount”) from the
Restricted Cash Collateral Deposit Account to Borrower.  Borrower shall comply with all of its
obligations under this Section 2.02 so long as any Lender shall have any
Commitment hereunder, any Obligation hereunder for the payment of money that
has accrued and is payable shall remain unpaid or unsatisfied, or any Letter of
Credit shall remain outstanding.

 

2.03                        Termination or Reduction of Commitments.  The Borrower may, upon notice to the
Administrative Agent, terminate the Aggregate Commitments, or from time to time
permanently reduce the Aggregate Commitments; provided that (i) any such
notice shall be received by the Administrative Agent not later than 8:00 a.m.
San Francisco time five Business Days prior to the date of termination or
reduction, (ii) any such partial reduction shall be in an aggregate amount of
$10,000,000 or any whole multiple of $1,000,000 in excess thereof, (iii) the
Borrower shall not terminate or reduce the Aggregate Commitments if, after
giving effect thereto and to any concurrent prepayments hereunder, the Total
Outstandings would exceed the Aggregate Commitments.  Any reduction of the Aggregate Commitments shall be applied to
the Commitment of each Lender according to its Pro Rata Share.  All commitment fees accrued until the
effective date of any termination of the Aggregate Commitments shall be paid on
the effective date of such termination.

 

2.04                        Fees.  In addition to
certain fees described in subsections (h) and (i) of Section 2.01:

 

(a)                                  Commitment
Fee.  The Borrower shall pay to the
Administrative Agent for the account of each Lender in accordance with its Pro
Rata Share, a commitment fee equal to the Commitment Fee Percentage times
the actual daily amount by which the Aggregate Commitments exceed the
Outstanding Amount of L/C Obligations (calculated with reference to the maximum
undrawn amount under such L/C Obligations at the time of calculation and not
calculated with reference to the maximum undrawn amount of such L/C Obligations
after giving effect to any increases contemplated in the related Letters of
Credit until such increases occur).  The
commitment fee shall accrue at all times during the Availability Period,
including at any time during which one or more of the conditions in Article
IV is not met, and shall be due and payable quarterly in arrears on the
last Business Day of each March, June, September and December, commencing with
the first such date to occur after the Closing Date, and on the Maturity
Date.  The commitment fee shall be calculated
quarterly in arrears, and if there is any change in the Commitment Fee
Percentage during any quarter, the actual daily amount shall be computed and
multiplied by the Commitment Fee Percentage separately for each period during
such quarter that such Commitment Fee Percentage was in effect.

 

20

 

(b)                                 Arrangement,
Administrative, and Upfront Fees. 
The Borrower shall pay an arrangement fee to Bank of America for the
Arrangers’ accounts, and shall pay an administrative fee to the Administrative
Agent for the Administrative Agent’s own account, in the amounts and at the
times specified in the letter agreement, dated June 29, 2001 (the “Agent/Arranger
Fee Letter”), between the Borrower and Bank of America, as an Arranger and
the Administrative Agent.  On the
Closing Date, the Borrower shall pay to the Administrative Agent, for the
account of the Lenders in accordance with their respective Pro Rata Shares, an
upfront fee in the amount agreed to among each Lender, the Arrangers and the
Borrower.  Such upfront fees are for the
credit facilities committed by the Lenders under this Agreement and are fully
earned on the date paid.  The upfront
fee paid to each Lender is solely for its own account.  All fees shall be fully earned when paid and
are nonrefundable for any reason whatsoever.

 

(c)                                  Other
Fees.  The Borrower shall pay to the
Lenders such fees as shall have been separately agreed upon in writing in the
amounts and at the times so specified. 
Such fees shall be fully earned when paid and shall not be refundable
for any reason whatsoever.

 

2.05                        Computation of Interest and Fees.  All computations of interest calculated with
the Base Rate when the Base Rate is determined by Bank of America’s “prime
rate” shall be made on the basis of a year of 365 or 366 days, as the case may
be, and actual days elapsed.  All other
computations of fees and interest shall be made on the basis of a 360-day year
and actual days elapsed (which results in more fees or interest, as applicable,
being paid than if computed on the basis of a 365-day year).

 

2.06                        Evidence of Debt.

 

(a)                                  The
Credit Extensions made by each Lender shall be evidenced by one or more
accounts or records maintained by such Lender and by the Administrative Agent
in the ordinary course of business.  The
accounts or records maintained by the Administrative Agent and each Lender
shall be conclusive absent manifest error of the amount of the Credit
Extensions made by the Lenders to the Borrower and the interest and payments
thereon.  Any failure to so record or
any error in doing so shall not, however, limit or otherwise affect the
obligation of the Borrower hereunder to pay any amount owing with respect to
the Obligations.  In the event of any
conflict between the accounts and records maintained by any Lender and the
accounts and records of the Administrative Agent in respect of such matters,
the accounts and records of the Administrative Agent shall control in the
absence of manifest error.

 

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

 

2.07                        Payments Generally.

 

(a)                                  All
payments to be made by the Borrower shall be made without condition or
deduction for any counterclaim, defense, recoupment or setoff.  Except as otherwise expressly 

 

21

 

provided herein, all
payments by the Borrower hereunder shall be made to the Administrative Agent,
for the account of the respective Lenders to which such payment is owed, at the
Administrative Agent’s Office in Dollars and in immediately available funds not
later than 11:00 a.m. San Francisco time on the date specified herein.  The Administrative Agent will promptly
distribute to each Lender its Pro Rata Share (or other applicable share as
provided herein) of such payment in like funds as received by wire transfer to
such Lender’s Lending Office.  All
payments received by the Administrative Agent after 11:00 a.m. San Francisco
time shall be deemed received on the next succeeding Business Day and any
applicable interest or fee shall continue to accrue.

 

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

 

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

 

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

 

2.08                        Sharing of Payments.  If, other than as expressly provided elsewhere herein, any Lender
shall obtain on account of the participations in L/C Obligations held by it,
any payment (whether voluntary, involuntary, through the exercise of any right
of set-off, or otherwise) in excess of its ratable share (or other share
contemplated hereunder) thereof, such Lender shall immediately (a) notify the Administrative
Agent of such fact, and (b) purchase from the other Lenders such
subparticipations in the participations in L/C Obligations held by them, as the
case may be, as shall be necessary to cause such purchasing Lender to share the
excess payment in respect of such participations, as the case may be, pro rata
with each of them; provided, however, that if all or any portion
of such excess payment is thereafter recovered from the purchasing Lender under
any of the circumstances described in Section 10.06 (including pursuant
to any settlement entered into by the purchasing Lender in its discretion),
such purchase shall to that extent be rescinded and each other Lender shall
repay to the purchasing Lender the purchase price paid therefor, together with
an amount equal to such paying Lender’s ratable share (according to the
proportion of (i) the amount of such paying Lender’s required repayment to (ii)
the total amount so recovered from the purchasing Lender) of any interest or
other amount paid or payable by the purchasing Lender in respect of the total
amount so recovered, without further interest thereon.  The Borrower agrees that any Lender so
purchasing a participation from another Lender may, to the fullest extent
permitted by law, exercise all its rights of payment (including the right of
set-off, but subject to Section 10.09) with respect to such
participation as fully as if such Lender were the direct creditor of the
Borrower in the amount of such participation. 
The Administrative Agent will keep records (which shall be conclusive
and binding in the absence of manifest error) of participations purchased under
this Section and will in each case notify the Lenders following any such
purchases or repayments.  Each Lender
that 

 

22

 

purchases a participation pursuant to this Section
shall from and after such purchase have the right to give all notices,
requests, demands, directions and other communications under this Agreement
with respect to the portion of the Obligations purchased to the same extent as
though the purchasing Lender were the original owner of the Obligations
purchased.

 

2.09                        Security.  At
all times after the Closing Date, the Obligations shall be secured in
accordance with the Collateral Documents. 
In connection with the pledge of any Collateral which is included in the
calculation of the Collateral Value of the Borrowing Base as reflected in a
duly executed Borrowing Base Certificate delivered by the Borrower, the
Borrower will from time to time execute or cause to be executed such security
agreements, control agreements and any other documents incident to the granting
or perfection of the Lien in such Collateral as Administrative Agent may
reasonably request and any such documents will be “Collateral Documents”
hereunder.  Without limiting any
provision of the Collateral Documents, the Borrower hereby grants to the
Administrative Agent, for the benefit of the Administrative Agent, the L/C
Issuers and the Lenders, a Lien upon the Restricted Cash Collateral to secure
the Obligations.  After the occurrence
and during the continuation of a Default or Event of Default, upon request by
the Administrative Agent, the Borrower shall transfer all amounts held in any
Restricted Cash Collateral Account other than the Restricted Cash Collateral
Deposit Account to the Restricted Cash Collateral Deposit Account.

 

ARTICLE
III.

TAXES, YIELD PROTECTION AND ILLEGALITY

 

3.01                        Taxes.

 

(a)                                  Any
and all payments by the Borrower to or for the account of the Administrative
Agent or any Lender under any Loan Document shall be made free and clear of and
without deduction for any and all present or future taxes, duties, levies,
imposts, deductions, assessments, fees, withholdings or similar charges, and
all liabilities with respect thereto, excluding, in the case of the
Administrative Agent and each Lender, taxes imposed on or measured by its
overall net income, and franchise taxes imposed on it (in lieu of net income
taxes), by the jurisdiction (or any political subdivision thereof) under the
Laws of which the Administrative Agent or such Lender, as the case may be, is
organized or maintains a lending office (all such non-excluded taxes, duties,
levies, imposts, deductions, assessments, fees, withholdings or similar charges,
and liabilities being hereinafter referred to as “Taxes”).  If the Borrower shall be required by any
Laws to deduct any Taxes from or in respect of any sum payable under any Loan
Document to the Administrative Agent or any Lender, (i) subject to the last sentence
of Section 10.15(a), 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), the Administrative Agent and such
Lender receives an amount equal to the sum it would have received had no such
deductions been made, (ii) the Borrower shall make such deductions, (iii) the
Borrower shall pay the full amount deducted to the relevant taxation authority
or other authority in accordance with applicable Laws, and (iv) within 30 days
after the date of such payment, the Borrower shall furnish to the
Administrative Agent (which shall forward the same to such Lender) the original
or a certified copy of a receipt evidencing payment thereof.

 

23

 

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

 

(c)                                  Subject to Section 10.15(a)(iii), if the
Borrower shall be required to deduct or pay any Taxes or Other Taxes from or in
respect of any sum payable under any Loan Document to the Administrative Agent
or any Lender, the Borrower shall also pay to the Administrative Agent (for the
account of such Lender) or to such Lender at the time interest is paid, such
additional amount that such Lender specifies in reasonable detail as necessary
to preserve the after-tax yield (after factoring in all taxes, including taxes
imposed on or measured by net income) that such Lender would have received if
such Taxes or Other Taxes had not been imposed.

 

(d)                                 The
Borrower agrees to indemnify the Administrative Agent and each Lender for (i)
the full amount of Taxes and Other Taxes (including any Taxes or Other Taxes
imposed or asserted by any jurisdiction on amounts payable under this Section)
paid by the Administrative Agent and such Lender (other than for any
withholding permitted by Section 10.15(a)(iv)), (ii) amounts payable under Section
3.01(c) and (iii) any liability (including additions to tax, penalties,
interest and expenses) arising therefrom or with respect thereto, in each case
whether or not such Taxes or Other Taxes were correctly or legally imposed or
asserted by the relevant Governmental Authority.  Payment under this subsection (d) shall be made within 30 days
after the date the Lender or the Administrative Agent makes a demand therefor
and provides reasonable evidence of payment.

 

(e)                                  Each
Lender that is not an export credit agency hereby represents that, as of the
date it became a Lender under this Agreement, it was not subject to any Taxes
applicable to payments made by the Borrower hereunder.

 

3.02                        Increased Cost and Reduced Return;
Capital Adequacy.

 

(a)                                  If
any Lender determines that as a result of the introduction of or any change in
or in the interpretation of any Law, or such Lender’s compliance therewith (as
so introduced or changed), there shall be any increase in the cost to such
Lender of agreeing to issue or participate in Letters of Credit, or a reduction
in the amount received or receivable by such Lender in connection with any of
the foregoing (excluding for purposes of this subsection (a) any such increased
costs or reduction in amount resulting from (i) Taxes or Other Taxes (as to
which Section 3.01 shall govern), (ii) changes in the basis of taxation
of overall net income or overall gross income by the United States or any
foreign jurisdiction or any political subdivision of either thereof under the
Laws of which such Lender is organized or has its Lending Office, and (iii)
reserve requirements, then from time to time upon demand of such Lender (with a
copy of such demand to the Administrative Agent), the Borrower shall pay to
such Lender such additional amounts as will compensate such Lender for such
increased cost or reduction.

 

(b)                                 If
any Lender determines that the introduction of any Law regarding capital
adequacy or any change therein or in the interpretation thereof (as so
introduced or changed), or compliance by such Lender (or its Lending Office)
therewith, has the effect of reducing the rate of return on the capital of such
Lender or any corporation Controlling such Lender as a 

 

24

 

consequence of such
Lender’s obligations hereunder (taking into consideration its policies with
respect to capital adequacy and such Lender’s desired return on capital), then
from time to time upon demand of such Lender (with a copy of such demand to the
Administrative Agent), the Borrower shall pay to such Lender such additional
amounts as will compensate such Lender for such reduction.

 

3.03                        Matters Applicable to all Requests for
Compensation.

 

(a)                                  A
certificate of the Administrative Agent or any Lender claiming compensation
under this Article III and setting forth the additional amount or
amounts to be paid to it hereunder shall be conclusive in the absence of
manifest error.  In determining such
amount, the Administrative Agent or such Lender may use any reasonable
averaging and attribution methods.

 

(b)                                 If
the Borrower becomes obligated to make any additional or increased payment with
respect to any Lender by reason of Section 3.01(a), or upon any Lender
making a claim for compensation under Section 3.01 or 3.02, the
Borrower may remove or replace such Lender in accordance with Section 10.16.

 

3.04                        Survival.

 

All of the Borrower’s
obligations under this Article III shall survive termination of the
Aggregate Commitments and repayment of all other Obligations hereunder.

 

ARTICLE IV.

CONDITIONS PRECEDENT TO CREDIT EXTENSIONS

 

4.01                        Conditions of Initial Credit Extension.  The conditions for the initial Credit
Extension, as set forth in this Agreement as in effect prior to its amendment
pursuant to the Eighth Amendment, were or have been satisfied or waived and are
not restated here.

 

4.02                        Conditions to all Credit Extensions.  The obligation of each L/C Issuer to honor
any Request for Credit Extension is subject to the following conditions
precedent:

 

(a)                                  The
representations and warranties of the Borrower contained in Article V or
any other Loan Document, or which are contained in any document furnished at
any time under or in connection herewith or therewith, shall be true and
correct in all material respects on and as of the date of such Credit
Extension, except to the extent that such representations and warranties
specifically refer to an earlier date, in which case they shall be true and
correct as of such earlier date, and except that for purposes of this Section
4.02, the representations and warranties contained in subsections (a) and
(b) of Section 5.05 shall be deemed to refer to the most recent
statements furnished pursuant to clauses (a) and (b), respectively, of Section
6.01.

 

(b)                                 No
Default or Event of Default shall exist, or would result from such proposed
Credit Extension.

 

(c)                                  The
Administrative Agent and the relevant L/C Issuer shall have received a Request
for Credit Extension in accordance with the requirements hereof.

 

25

 

(d)                                 The
Administrative Agent shall have received a Borrowing Base Certificate showing
that, after giving effect to such Credit Extension, there will be no shortfall
in the Collateral Value of the Borrowing Base.

 

(e)                                  The
Administrative Agent shall have received, in form and substance satisfactory to
it, such other assurances, certificates, documents or consents related to the
foregoing as the Administrative Agent or the Required Lenders reasonably may
require.

 

Each Request for Credit
Extension submitted by the Borrower shall be deemed to be a representation and
warranty that the conditions specified in Sections 4.02(a) and (b)
have been satisfied on and as of the date of the applicable Credit Extension.

 

ARTICLE V.

REPRESENTATIONS AND WARRANTIES

 

The Borrower represents
and warrants to the Administrative Agent and the Lenders that:

 

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

 

5.02                        Authorization; No Contravention.  The execution, delivery and performance by
the Borrower of each Loan Document to which it is party, have been duly
authorized by all necessary corporate or other organizational action, and do
not and will not (a) contravene the terms of any of its Organization Documents;
(b) conflict with or result in any breach or contravention of, or the creation
of any Lien (other than the Liens created under the Loan Documents) under, (i)
any Contractual Obligation to which it is a party or (ii) any order,
injunction, writ or decree of any Governmental Authority or any arbitral award
to which it or its property is subject; or (c) violate any Law applicable to
the Borrower.

 

5.03                        Governmental Authorization; Other Consents.  No approval, consent, exemption,
authorization, or other action by, or notice to, or filing with, any Governmental
Authority is necessary or required in connection with the execution, delivery
or performance by, or enforcement against, the Borrower of this Agreement or
any other Loan Document except, with respect to the perfection of the Liens
granted to the Administrative Agent under the Loan Documents for the benefit of
the Lenders, such recordings and filings described in Section 5.15.

 

5.04                        Binding Effect. 
This Agreement has been, and each other Loan Document, when delivered
hereunder, will have been, duly executed and delivered by the Borrower.  This Agreement constitutes, and each other
Loan Document when so delivered will constitute, a legal, 

 

26

 

valid and binding obligation of the Borrower,
enforceable against the Borrower in accordance with its terms except as
enforceability may be limited by Debtor Relief Laws or by general equitable
principles (whether enforcement is sought by proceedings in equity or at law).

 

5.05                        Financial Statements; No Material Adverse
Effect.

 

(a)                                  The
Audited Financial Statements (i) were prepared in accordance with GAAP
consistently applied throughout the period covered thereby, except as otherwise
expressly noted therein; (ii) fairly present in all material respects the
financial condition of the Borrower and its Subsidiaries as of the date thereof
and their results of operations for the period covered thereby in accordance
with GAAP consistently applied throughout the period covered thereby, except as
otherwise expressly noted therein; and (iii) reflect all material indebtedness
and other liabilities, direct or contingent, of the Borrower and its
Subsidiaries as of the date thereof, including liabilities for taxes, material
commitments and indebtedness in each case to the extent required to be so
reflected under GAAP consistently applied throughout the period covered
thereby.

 

(b)                                 Since
the date of the Audited Financial Statements, other than as disclosed in the
quarterly financial statements of the Borrower for the periods ended March 31,
2003 and June 30, 2003 or in other public disclosures made by the Borrower,
there has been no event or circumstance that has or could reasonably be
expected to have a Material Adverse Effect.

 

5.06                        Litigation. 
Except as disclosed in Schedule 5.06, there are no actions,
suits, proceedings, claims or disputes pending or, to the knowledge of the
Borrower, threatened, at law, in equity, in arbitration or before any
Governmental Authority, by or against the Borrower or any of its Subsidiaries
or against any of their properties or revenues that (a) purport to affect or
pertain to this Agreement or any other Loan Document, or any of the
transactions provided for herein, or (b) could reasonably be expected to have a
Material Adverse Effect.

 

5.07                        Ownership of Property; Liens.  Each of the Borrower and each Subsidiary has
good record and marketable title in fee simple to, or valid leasehold interests
in, all real property necessary or used in the ordinary conduct of its
business, except for such defects in title as could not, individually or in the
aggregate, reasonably be expected to have a Material Adverse Effect.

 

5.08                        Insurance.  The
properties of the Borrower and its Subsidiaries are insured with financially
sound and reputable insurance companies not Affiliates of the Borrower, in such
amounts, with such deductibles and covering such risks as are customarily
carried by companies engaged in similar businesses and owning similar
properties in localities where the Borrower or its Subsidiaries operate.

 

5.09                        Taxes.  The
Borrower and its Subsidiaries have filed all Federal, state and other material
tax returns and reports required to be filed, and have paid all Federal, state
and other material taxes, assessments, fees and other governmental charges
levied or imposed upon them or their properties, income or assets otherwise due
and payable, except those which are not yet delinquent (after giving effect to
any applicable cure or grace period) or are being contested in good faith by
appropriate proceedings and for which adequate reserves have been provided in
accordance with GAAP.  To the Borrower’s
knowledge, there is no proposed tax assessment

 

27

 

against the Borrower or any Subsidiary that could, if
made, be reasonably expected to have a Material Adverse Effect.

 

5.10                        ERISA Compliance. 

 

(a)  Each Plan is in compliance in all material
respects with the applicable provisions of ERISA, the Code and other Federal or
state Laws.  Each Plan that is intended
to qualify under Section 401(a) of the Code has received a favorable
determination letter from the IRS or an application for such a letter is
currently being or will be processed by the IRS with respect thereto and such
application is or will be within a remedial amendment period and, to the
Borrower’s knowledge, nothing has occurred which would prevent, or cause the
loss of, such qualification which is not correctable without cost or at a cost
that is immaterial.  The Borrower and
each ERISA Affiliate have made all required contributions to each Plan subject
to Section 412 of the Code, and no application for a funding waiver or an
extension of any amortization period pursuant to Section 412 of the Code has
been made with respect to any Plan.

 

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

 

(c)  (i) 
Except as specifically disclosed in Schedule 5.10, no ERISA Event
has occurred within the past 12 years or is reasonably expected to occur; (ii)
except as specifically disclosed in Schedule 5.10, no Pension Plan has
any Unfunded Pension Liability; (iii) neither the Borrower nor any ERISA
Affiliate has incurred, or reasonably expects to incur, any liability under
Title IV of ERISA with respect to any Pension Plan (other than premiums due and
not delinquent under Section 4007 of ERISA); (iv) neither the Borrower nor any
ERISA Affiliate has incurred, or reasonably expects to incur, any liability
(and no event has occurred which, with the giving of notice under Section 4219
of ERISA, could be reasonably expected to result in such liability) under
Sections 4201 or 4243 of ERISA with respect to a Multiemployer Plan; and (v)
neither the Borrower nor any ERISA Affiliate has engaged in a transaction that
could be subject to Sections 4069 or 4212(c) of ERISA.

 

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

 

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

 

(b)                                 None
of the Borrower, any Person Controlling the Borrower, or any Subsidiary (i) is
a “holding company,” or a “subsidiary company” of a “holding company,” or an
“affiliate” of a “holding company” or of a “subsidiary company” of a “holding
company,” within the meaning of the Public Utility Holding Company Act of 1935,
or (ii) is or is required to be registered as an “investment company” under the
Investment Company Act of 1940.

 

28

 

5.12                        Disclosure.  No
statement, information, report, representation, or warranty made by Borrower in
any Loan Document or furnished to the Administrative Agent or any Lender by or
on behalf of the Borrower in connection with any Loan Document contains any
untrue statement of a material fact or omits any material fact required to be
stated therein or necessary to make the statements therein, in light of the
circumstances under which they were made, not misleading.

 

5.13                        Compliance with Laws.  Each of the Borrower and each Subsidiary is in compliance in all
material respects with the requirements of all Laws applicable to it or to its
properties, except in such instances in which (a) such requirement of Law is
being contested in good faith or a bona fide dispute exists with respect
thereto or (b) the failure to comply therewith could not reasonably be expected
to have a Material Adverse Effect.

 

5.14                        Tax Shelter Regulations.  The Borrower does not intend to treat the Letters of Credit and
related transactions as being a “reportable transaction” (within the meaning of
Treasury Regulation Section 1.6011-4). 
In the event the Borrower determines to take any action inconsistent
with such intention, it will promptly notify the Administrative Agent thereof.  If the Borrower so notifies the
Administrative Agent, the Borrower acknowledges that one or more of the Lenders
may treat its interest in Letters of Credit as part of a transaction that is
subject to Treasury Regulation Section 301.6112-1, and such Lender or Lenders,
as applicable, will maintain the lists and other records required by such
Treasury Regulation.

 

5.15                        Collateral
Documents.

 

(a)                                  The
provisions of each of the Collateral Documents are effective to create in favor
of the Administrative Agent for the benefit of the Lenders a legal, valid and
enforceable security interest in all right, title and interest of the Borrower
in the personal property Collateral described therein; and, upon the execution
and delivery of the Restricted Cash Collateral Agreements, the Administrative
Agent for the benefit of the Lenders shall have a perfected first priority
security interest in all right, title and interest of the Borrower in the
Restricted Cash Collateral , subject only to customary and ordinary Liens in
favor of the financial institution acting as the depository bank or as
securities intermediary to secure payment of fees, costs of administration and
payment of other amounts relating to such account payable by Borrower to such
financial institution.

 

(b)                                 All
representations and warranties of the Borrower in the Collateral Documents and
all other Loan Documents (i) are true and correct in all material respects,
except to the extent that such representations and warranties provide that they
are made as of an earlier date, in which case they are true and correct in all
material respects as of such earlier date and (ii) shall at all times be
construed to be for the benefit of the Administrative Agent and the Lenders,
and they shall remain in full force and effect, notwithstanding the assignment
of any of the Collateral Documents or the foreclosure or the partial release of
the Liens created thereunder, in each case, until the occurrence of the events
described in Section 9.11(b)(i).

 

ARTICLE
VI.

AFFIRMATIVE COVENANTS

 

So long as any Lender
shall have any Commitment hereunder, any Obligation hereunder 

 

29

 

for the payment of money
that has accrued and is payable shall remain unpaid or unsatisfied, or any
Letter of Credit shall remain outstanding, the Borrower shall, and shall
(except in the case of the covenants set forth in Sections 6.01, 6.02,
6.03, 6.10 and 6.12) cause each Subsidiary to:

 

6.01                        Financial Statements.  Deliver to the Administrative Agent and each
Lender, in form and detail satisfactory to the Administrative Agent and the
Required Lenders:

 

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

 

(b)                                 as soon as available, but in any event
within 45 days after the end of each of the first three fiscal quarters of each
fiscal year of the Borrower, a consolidated balance sheet of the Borrower and
its Subsidiaries as at the end of such fiscal quarter, and the related
consolidated statements of income and cash flows for such fiscal quarter and
for the portion of the Borrower’s fiscal year then ended, setting forth in each
case in comparative form the figures for the corresponding fiscal quarter of
the previous fiscal year and the corresponding portion of the previous fiscal
year, all in reasonable detail and certified by a Responsible Officer of the
Borrower as presenting fairly in all material respects the financial condition,
results of operations, and cash flows of the Borrower and its Subsidiaries in
accordance with GAAP, subject only to normal year-end audit adjustments and the
absence of footnotes.

 

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

 

6.02                        Certificates; Other Information.  Deliver to the Administrative Agent and each
Lender, in form and detail satisfactory to the Administrative Agent and the
Required Lenders:

 

(a)                                  Reserved;

 

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

 

(c)                                  no
later than three (3) Business Days after any request by the Administrative
Agent or any Lender, copies of any detailed audit reports, management letters
or recommendations submitted to the board of 

 

30

 

directors (or the audit
committee of the board of directors) of the Borrower by independent accountants
in connection with the accounts or books of the Borrower or any Subsidiary, or
any audit of any of them;

 

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

 

(e)                                  promptly
after the Borrower has notified the Administrative Agent of any intention by
the Borrower to treat the Letters of Credit and related transactions as being a
“reportable transaction” (within the meaning of Treasury Regulation Section
1.6011-4), a duly completed copy of IRS Form 8886 or any successor form; and

 

(f)                                    promptly,
such additional information regarding the business, financial or corporate
affairs of the Borrower or any Subsidiary, or compliance with the terms of the
Loan Documents, as the Administrative Agent or any Lender may from time to time
reasonably request.

 

Documents required to be
delivered pursuant to Section 6.01 and 6.02 may be delivered
electronically as provided in Section 10.02; provided that: (i) the
Borrower shall deliver paper copies of such documents to the Administrative
Agent or any Lender that requests the Borrower to deliver such paper copies
until a written request to cease delivering paper copies is given by the
Administrative Agent or such Lender and (ii) the Borrower shall notify (which
may be by facsimile or electronic mail) the Administrative Agent and each
Lender of the posting of any such documents (which notification shall be deemed
to have occurred when the Administrative Agent sends email notices of such
posting) and deliver to the Administrative Agent by electronic mail electronic
versions (i.e., soft copies) of such documents.  Notwithstanding anything contained herein,
in every instance the Borrower shall be required to provide paper copies of the
Borrowing Base Certificates required by Section 2.02 and the Compliance
Certificates required by Section 6.02(b) to the Administrative
Agent.  Except for such Compliance
Certificates, the Administrative Agent shall have no obligation to request the
delivery or to maintain copies of the documents referred to above, and in any
event shall have no responsibility to monitor compliance by the Borrower with
any such request for delivery, and each Lender shall be solely responsible for
requesting delivery to it or maintaining its copies of such documents.

 

6.03                        Notices.  Promptly (and in any event, with respect to Section
6.03(a), no later than 5 Business Days after knowledge thereof by a
Responsible Officer) notify the Administrative Agent and each Lender:

 

(a)                                  of
the occurrence of any Default or Event of Default;

 

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

 

31

 

proceeding affecting the
Borrower or any Subsidiary, including pursuant to any applicable Environmental
Laws;

 

(c)                                  of
any litigation, investigation or proceeding affecting the Borrower or any
Subsidiary in which the amount involved exceeds the Threshold Amount, or in
which injunctive relief or similar relief is sought, which relief, if granted,
could be reasonably expected to have a Material Adverse Effect;

 

(d)                                 of
the occurrence of any ERISA Event;

 

(e)                                  of
any material change in accounting policies or financial reporting practices by
the Borrower or any Subsidiary.

 

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

 

6.04                        Preservation of Existence, Etc.  (a) Preserve, renew and maintain in full
force and effect its legal existence and good standing under the Laws of the
jurisdiction of its organization except in a transaction permitted by Section
7.01; (b) take all reasonable action to maintain all rights, privileges,
permits, licenses and franchises necessary or desirable in the normal conduct
of its business; and (c) preserve or renew all of its registered patents,
trademarks, trade names and service marks, except, in each case, to the extent
that the failure to do so could not reasonably be expected to have a Material
Adverse Effect.

 

6.05                        Maintenance of Properties.  (a) Maintain, preserve and protect all of its properties and
equipment necessary in the operation of its business in good working order and
condition, ordinary wear and tear excepted; (b) make all necessary repairs
thereto and renewals and replacements thereof; and (c) use the standard of care
typical in the industry in the operation and maintenance of its facilities; except
in each case to the extent that failure to do so could not reasonably be
expected to have a Material Adverse Effect.

 

6.06                        Maintenance of Insurance.  Maintain with financially sound and
reputable insurance companies not Affiliates of the Borrower, insurance with
respect to its properties and business against loss or damage of the kinds
customarily insured against by Persons engaged in the same or similar business,
of such types and in such amounts (after giving effect to any self-insurance
compatible with the following standards) as are customarily carried under
similar circumstances by such other Persons.

 

6.07                        Compliance with Laws.  Comply in all material respects with the requirements of
all Laws applicable to it or to its business or property, except in such
instances in which (a) such requirement of Law is being contested in good faith
or a bona fide dispute exists with respect thereto; or (b) the failure to
comply therewith could not reasonably be expected to have a Material Adverse
Effect.

 

32

 

6.08                        Books and Records.  Maintain proper books of record and account, in which full, true
and correct entries in conformity with GAAP (or, in the case of books of record
and account relating solely to LP Chile, generally accepted accounting
principles in effect in Chile) consistently applied shall be made of all
financial transactions and matters involving the assets and business of the
Borrower or such Subsidiary, as the case may be; and (b) maintain such books of
record and account in material conformity with all applicable requirements of
any Governmental Authority having regulatory jurisdiction over the Borrower or
such Subsidiary, as the case may be.

 

6.09                        Inspection Rights.  Permit representatives and independent contractors of the
Administrative Agent and each Lender to visit and inspect any of its
properties, to examine its corporate, financial and operating records, and make
copies thereof or abstracts therefrom, and to discuss its affairs, finances and
accounts with its directors, officers, and independent public accountants, all
at the expense of the Borrower and at such reasonable times during normal
business hours and as often as may be reasonably desired, upon reasonable
advance notice to the Borrower; provided, however, that when an
Event of Default exists the Administrative Agent or any Lender (or any of their
respective representatives or independent contractors) may do any of the
foregoing at the expense of the Borrower at any time during normal business
hours and without advance notice.

 

6.10                        Compliance with ERISA.

 

Do, and cause each of its
ERISA Affiliates to do, each of the following: (a) maintain each Plan in
compliance with the applicable provisions of ERISA, the Code and other Federal
or state law; (b) cause each Plan that is qualified under Section 401(a) of the
Code to maintain such qualification; and (c) make all required contributions to
any Plan subject to Section 412 of the Code; except, in each case, to the
extent that failure to do so could not reasonably be expected to have a
Material Adverse Effect.

 

6.11                        Use of Proceeds. 
Use the proceeds of the Credit Extensions for working capital, capital
expenditures, to refinance indebtedness, and other general corporate purposes
not in contravention of any applicable Law or of any Loan Document.

 

6.12                        Collateral Documents.  Promptly upon the
written request by the Administrative Agent or the Required Lenders, do,
execute, acknowledge, deliver, record, re-record, file, re-file, register and
re-register, any and all such further acts, deeds, conveyances, security
agreements, mortgages, assignments, estoppel certificates, financing statements
and continuations thereof, termination statements, notices of assignment,
transfers, certificates, assurances and other instruments the Administrative
Agent or such Lenders, as the case may be, may reasonably require from time to
time in order (i) to carry out more effectively the purposes of this Agreement
or any other Loan Document, (ii) to subject to the Liens created by any of the
Collateral Documents any of the properties, rights or interests covered by any
of the Collateral Documents, (iii) to perfect and maintain the validity,
effectiveness and priority of any of the Collateral Documents and the Liens
intended to be created thereby, and (iv) to better assure, convey, grant,
assign, transfer, preserve, protect and confirm to the Administrative Agent and
Lenders the rights granted or now or hereafter granted to the Lenders under any
Loan Document.

 

33

 

ARTICLE
VII.

NEGATIVE COVENANTS

 

So long as any Lender
shall have any Commitment hereunder, any Obligation hereunder for the payment
of money that has accrued and is payable shall remain unpaid or unsatisfied, or
any Letter of Credit shall remain outstanding, the Borrower shall not directly
or indirectly:

 

7.01                        Fundamental Changes.  (i) Dissolve or liquidate or (ii) merge, consolidate
with or into another Person, or dispose of (whether in one transaction or in a
series of transactions) all or substantially all of its assets (whether now
owned or hereafter acquired) to or in favor of any Person unless, in the case
of (ii) above, such Person assumes, pursuant to a written agreement in
form and substance satisfactory to Administrative Agent, all of the Obligations
and no Default or Event of Default will otherwise result from such transaction
or transactions:

 

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

 

ARTICLE VIII.

EVENTS OF DEFAULT AND REMEDIES

 

8.01                        Events of Default.  Any of the following shall constitute an Event of Default:

 

(a)                                  Non-Payment.  The Borrower fails to pay (i) when and as
required to be paid herein, any L/C Obligation, or (ii) within three days after
the same becomes due, any interest on any L/C Obligation, or any commitment or
other fee due hereunder, or (iii) within five days after the same becomes due,
any other amount payable hereunder or under any other Loan Document; or

 

(b)                                 Specific
Covenants.  The Borrower fails to
perform or observe any term, covenant or agreement contained in any of Section
2.02, 6.01, 6.02(b), 6.02(c), 6.04, 6.09,
or 6.11 or Article VII; or

 

(c)                                  Other
Defaults.  Borrower fails to perform
or observe any other covenant or agreement (not specified in subsection (a) or
(b) above) contained in any Loan Document on its part to be performed or
observed and such failure continues for 30 days; or

 

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

 

(e)                                  Cross-Default.  An Event of Default (as defined therein)
resulting from the failure to make any payment of principal, interest or
premium when due and payable under the 

 

34

 

Indentures (after giving
effect to any cure or grace period provided therein) or to repurchase or redeem
any note issued under the Indentures when required thereby occurs and is
continuing or any other Event of Default occurs and is continuing under the
Indentures and results in the Indebtedness under the Indentures being
accelerated; or

 

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

 

(g)                                 Inability
to Pay Debts; Attachment.  (i) The
Borrower or any Subsidiary becomes unable or admits in writing its inability or
fails generally to pay its debts as they become due, or (ii) any writ or
warrant of attachment or execution or similar process is issued or levied
against all or any material part of the property of any such Person and is not
released, vacated or fully bonded within 60 days after its issue or levy; or

 

(h)                                 ERISA.  (i) An ERISA Event occurs with respect to a
Pension Plan or Multiemployer Plan which has resulted or could reasonably be
expected to result in liability of the Borrower under Title IV of ERISA to
the Pension Plan, Multiemployer Plan or the PBGC in an aggregate amount in
excess of the Threshold Amount, or (ii) the Borrower or any ERISA Affiliate
fails to pay when due, after the expiration of any applicable grace period, any
installment payment with respect to its withdrawal liability under Section 4201
of ERISA under a Multiemployer Plan in an aggregate amount in excess of the
Threshold Amount; or

 

(i)                                     Invalidity of Loan Documents. 
Any Loan Document, at any time after its execution and delivery and for
any reason, ceases to be in force and effect in any material respect, or is
declared by a court of competent jurisdiction to be null and void, invalid or
unenforceable in any material respect, other than, in each case, (i) pursuant
to the terms of such Loan Document or the Agreement, (ii) with the agreement of
all the Lenders, or (iii) upon the satisfaction in full of all the Obligations;
or Borrower denies that it has any or further liability or obligation under any
Loan Document, prior to the satisfaction in full of all the Obligations and the
obligations under such Loan Document; or Borrower purports unilaterally to
revoke, terminate or rescind any Loan Document; or

 

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

 

(a)                                  declare the obligation of the L/C Issuers
to make L/C Credit Extensions to be terminated, whereupon such obligation shall
be terminated;

 

35

 

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

 

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

 

provided, however, that upon the
occurrence of any event specified in subsection (f) of Section 8.01, any
obligation of the L/C Issuers to make L/C Credit Extensions shall automatically
terminate, the unpaid principal amount of all L/C Borrowings, interest and
other amounts as aforesaid shall automatically become due and payable, in each
case without further act of the Administrative Agent or any Lender.

 

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

 

First,
to payment of that portion of the Obligations constituting fees, indemnities
(excluding indemnities not then owed), expenses and other amounts (including
Attorney Costs payable hereunder and amounts payable under Article III)
payable to the Administrative Agent in its capacity as such;

 

Second,
to payment of that portion of the Obligations constituting fees, indemnities
(excluding indemnities not then owed) and other amounts (other than principal
and interest) payable to the Lenders (including Attorney Costs payable
hereunder and amounts payable under Article III), ratably among them in
proportion to the amounts described in this clause Second payable to
them;

 

Third,
to payment of that portion of the Obligations constituting accrued and unpaid
interest on L/C Borrowings, ratably among the Lenders in proportion to the
respective amounts described in this clause Third payable to them;

 

Fourth,
to payment of that portion of the Obligations constituting unpaid principal of
L/C Borrowings, ratably among the Lenders in proportion to the respective
amounts described in this clause Fourth held by them;

 

Fifth,
to the Administrative Agent for the account of the L/C Issuers, as cash
collateral that portion of L/C Obligations comprised of the aggregate undrawn
amount of Letters of Credit; and

 

Last,
the balance, if any, after all of the Obligations have been indefeasibly paid
in full (excluding indemnities not then owed), to the Borrower or as otherwise
required by Law.

 

Amounts used as cash
collateral for the aggregate undrawn amount of Letters of Credit pursuant to
clause Fifth above shall be applied to satisfy drawings under such
Letters of Credit as they occur.  If any
amount remains on deposit as cash collateral after all Letters of Credit have
either 

 

36

 

been fully drawn or
expired, such remaining amount shall be applied to the other Obligations, if
any, in the order set forth above.

 

ARTICLE
IX.

ADMINISTRATIVE AGENT

 

9.01                        Appointment and Authorization of
Administrative Agent.

 

(a)                                  Each
Lender hereby irrevocably appoints, designates and authorizes the
Administrative Agent to take such action on its behalf under the provisions of
this Agreement and each other Loan Document and to exercise such powers and
perform such duties as are expressly delegated to it by the terms of this
Agreement or any other Loan Document, together with such powers as are
reasonably incidental thereto. 
Notwithstanding any provision to the contrary contained elsewhere herein
or in any other Loan Document, the Administrative Agent shall not have any
duties or responsibilities, except those expressly set forth herein, nor shall
the Administrative Agent have or be deemed to have any fiduciary relationship
with any Lender or participant, and no implied covenants, functions,
responsibilities, duties, obligations or liabilities shall be read into this
Agreement or any other Loan Document or otherwise exist against the
Administrative Agent.  Without limiting
the generality of the foregoing sentence, the use of the term “agent” herein
and in the other Loan Documents with reference to the Administrative Agent is
not intended to connote any fiduciary or other implied (or express) obligations
arising under agency doctrine of any applicable Law.  Instead, such term is used merely as a matter of market custom,
and is intended to create or reflect only an administrative relationship
between independent contracting parties.

 

(b)                                 Each
L/C Issuer shall act on behalf of the Lenders with respect to any Letters of
Credit issued by it and the documents associated therewith until such time (and
except for so long) as the Administrative Agent may agree at the request of the
Required Lenders to act for such L/C Issuer with respect thereto; provided,
however, that each L/C Issuer shall have all of the benefits and
immunities (i) provided to the Administrative Agent in this Article IX
with respect to any acts taken or omissions suffered by such L/C Issuer in
connection with Letters of Credit issued by it or proposed to be issued by it
and the applications and agreements for letters of credit pertaining to such
Letters of Credit as fully as if the term “Administrative Agent” as used in
this Article IX and in the definition of “Agent-Related Person” included
the L/C Issuer with respect to such acts or omissions, and (ii) as
additionally provided herein with respect to the L/C Issuer.

 

9.02                        Delegation of Duties.  The Administrative Agent may execute any of its duties under this
Agreement or any other Loan Document by or through agents, employees or
attorneys-in-fact and shall be entitled to advice of counsel and other
consultants or experts concerning all matters pertaining to such duties.  The Administrative Agent shall not be
responsible for the negligence or misconduct of any agent or attorney-in-fact
that it selects in the absence of gross negligence or willful misconduct.

 

9.03                        Liability of Administrative Agent.  No Agent-Related Person shall (a) be liable
for any action taken or omitted to be taken by any of them under or in
connection with this Agreement or any other Loan Document or the transactions
contemplated hereby (except for its 

 

37

 

own gross negligence or willful misconduct in
connection with its duties expressly set forth herein), or (b) be responsible
in any manner to any Lender or participant for any recital, statement,
representation or warranty made by Borrower or any officer thereof, contained
herein or in any other Loan Document, or in any certificate, report, statement
or other document referred to or provided for in, or received by the
Administrative Agent under or in connection with, this Agreement or any other
Loan Document, or the validity, effectiveness, genuineness, enforceability or
sufficiency of this Agreement or any other Loan Document, or for any failure of
Borrower or any other party to any Loan Document to perform its obligations
hereunder or thereunder.  No
Agent-Related Person shall be under any obligation to any Lender or participant
to ascertain or to inquire as to the observance or performance of any of the
agreements contained in, or conditions of, this Agreement or any other Loan
Document, or to inspect the properties, books or records of Borrower or any
Affiliate thereof.

 

9.04                        Reliance by Administrative Agent.

 

(a)                                  The
Administrative Agent shall be entitled to rely, and shall be fully protected in
relying, upon any writing, communication, signature, resolution,
representation, notice, consent, certificate, affidavit, letter, telegram,
facsimile, telex or telephone message, electronic mail message, statement or other
document or conversation believed by it to be genuine and correct and to have
been signed, sent or made by the proper Person or Persons, and upon advice and
statements of legal counsel (including counsel to Borrower), independent
accountants and other experts selected by the Administrative Agent.  The Administrative Agent shall be fully
justified in failing or refusing to take any action under any Loan Document
unless it shall first receive such advice or concurrence of the Required
Lenders as it deems appropriate and, if it so requests, it shall first be
indemnified to its satisfaction by the Lenders against any and all liability
and expense which may be incurred by it by reason of taking or continuing to
take any such action.  The
Administrative Agent shall in all cases be fully protected in acting, or in
refraining from acting, under this Agreement or any other Loan Document in
accordance with a request or consent of the Required Lenders (or of all Lenders
if required hereby in any instance) and such request and any action taken or
failure to act pursuant thereto shall be binding upon all the Lenders.

 

(b)                                 For
purposes of determining compliance with the conditions specified in Section
4.01, each Lender that has signed this Agreement shall be deemed to have
consented to, approved or accepted or to be satisfied with, each document or
other matter required thereunder to be consented to or approved by or
acceptable or satisfactory to a Lender unless the Administrative Agent shall
have received notice from such Lender prior to the proposed Closing Date
specifying its objection thereto.

 

9.05                        Notice of Default.  The Administrative Agent shall not be deemed to have knowledge or
notice of the occurrence of any Default or Event of Default, except with
respect to defaults in the payment of principal, interest and fees required to
be paid to the Administrative Agent for the account of the Lenders, unless the
Administrative Agent shall have received written notice from a Lender or the
Borrower referring to this Agreement, describing such Default or Event of
Default and stating that such notice is a “notice of default.”  The Administrative Agent will notify the
Lenders of its receipt of any such notice. 
The Administrative Agent shall take such action with respect to such
Default or Event of Default as 

 

38

 

may be directed by the Required Lenders in accordance
with Article VIII; provided, however, that unless and
until the Administrative Agent has received any such direction, the
Administrative Agent may (but shall not be obligated to) take such action, or
refrain from taking such action, with respect to such Default or Event of
Default as it shall deem advisable or in the best interest of the Lenders.

 

9.06                        Credit Decision; Disclosure of Information by
Administrative Agent.  Each Lender
acknowledges that no Agent-Related Person has made any representation or
warranty to it, and that no act by the Administrative Agent hereafter taken,
including any consent to and acceptance of any assignment or review of the
affairs of Borrower or any Affiliate thereof, shall be deemed to constitute any
representation or warranty by any Agent-Related Person to any Lender as to any
matter, including whether Agent-Related Persons have disclosed material
information in their possession.  Each
Lender represents to the Administrative Agent that it has, independently and
without reliance upon any Agent-Related Person and based on such documents and
information as it has deemed appropriate, made its own appraisal of and
investigation into the business, prospects, operations, property, financial and
other condition and creditworthiness of the Borrower and its Subsidiaries, and
all applicable bank or other regulatory Laws relating to the transactions contemplated
hereby, and made its own decision to enter into this Agreement and to extend
credit to the Borrower hereunder.  Each
Lender also represents that it will, independently and without reliance upon
any Agent-Related Person and based on such documents and information as it
shall deem appropriate at the time, continue to make its own credit analysis,
appraisals and decisions in taking or not taking action under this Agreement
and the other Loan Documents, and to make such investigations as it deems necessary
to inform itself as to the business, prospects, operations, property, financial
and other condition and creditworthiness of the Borrower.  Except for notices, reports and other
documents expressly required to be furnished to the Lenders by the Administrative
Agent herein, the Administrative Agent shall not have any duty or
responsibility to provide any Lender with any credit or other information
concerning the business, prospects, operations, property, financial and other
condition or creditworthiness of any of the Borrower or any of its Affiliates
which may come into the possession of any Agent-Related Person.

 

9.07                        Indemnification of Administrative Agent.  Whether or not the transactions contemplated
hereby are consummated, the Lenders shall indemnify upon demand each
Agent-Related Person (to the extent not reimbursed by or on behalf of Borrower
and without limiting the obligation of Borrower to do so), pro rata, and hold
harmless each Agent-Related Person from and against any and all Indemnified Liabilities
incurred by it; provided, however, that (a) no Lender shall be
liable for the payment to any Agent-Related Person of any portion of such
Indemnified Liabilities to the extent determined in a final, nonappealable
judgment by a court of competent jurisdiction to have resulted from such
Agent-Related Person’s own gross negligence or willful misconduct and (b) no Lender shall be liable for the payment
of any portion of an Indemnified Liability pursuant to this Section unless such
Indemnified Liability was incurred by the Administrative Agent in its capacity
as such or by another Agent-Related Person acting for the Administrative Agent
in such capacity; provided, however, that no action taken in accordance
with the directions of the Required Lenders shall be deemed to constitute gross
negligence or willful misconduct for purposes of this Section.  Without limitation of the foregoing, each
Lender shall reimburse the Administrative Agent upon demand for its ratable share
of any costs or out-of-pocket expenses (including Attorney Costs) incurred by
the 

 

39

 

Administrative Agent in connection with the
preparation, execution, delivery, administration, modification, amendment or
enforcement (whether through negotiations, legal proceedings or otherwise) of,
or legal advice in respect of rights or responsibilities under, this Agreement,
any other Loan Document, or any document contemplated by or referred to herein,
to the extent that the Administrative Agent is not reimbursed for such expenses
by or on behalf of the Borrower.  The
undertaking in this Section shall survive termination of the Aggregate
Commitments, the payment of all Obligations and the resignation of the Administrative
Agent.

 

9.08                        Administrative Agent in its Individual Capacity.  Bank of America and its Affiliates may make
loans to, issue letters of credit for the account of, accept deposits from,
acquire equity interests in and generally engage in any kind of banking, trust,
financial advisory, underwriting or other business with the Borrower and its
Affiliates as though Bank of America were not the Administrative Agent or the
L/C Issuer hereunder and without notice to or consent of the Lenders.  The Lenders acknowledge that, pursuant to
such activities, Bank of America or its Affiliates may receive information
regarding Borrower or its Affiliates (including information that may be subject
to confidentiality obligations in favor of Borrower or such Affiliate) and
acknowledge that the Administrative Agent shall be under no obligation to
provide such information to them.  With
respect to its Credit Extensions, Bank of America shall have the same rights
and powers under this Agreement as any other Lender and may exercise such
rights and powers as though it were not the Administrative Agent, and the terms
“Lender” and “Lenders” include Bank of America in its individual capacity.

 

9.09                        Successor Administrative Agent.  The Administrative Agent may resign as
Administrative Agent upon 30 days’ notice to the Lenders; provided that any
such resignation by Bank of America shall also constitute its resignation as
L/C Issuer.  If the Administrative Agent
resigns under this Agreement, the Required Lenders shall appoint from among the
Lenders a successor administrative agent for the Lenders, which successor
administrative agent shall be consented to by the Borrower at all times other
than during the existence of an Event of Default (which consent of the Borrower
shall not be unreasonably withheld or delayed).  If no successor administrative agent is appointed prior to the
effective date of the resignation of the Administrative Agent, the
Administrative Agent may appoint, after consulting with the Lenders and the
Borrower, a successor administrative agent from among the Lenders.  Upon the acceptance of its appointment as
successor administrative agent hereunder, (a) the Person acting as such
successor administrative agent shall succeed to all the rights, powers and
duties of the retiring Administrative Agent and L/C Issuer (b) the term
“Administrative Agent,” shall mean such successor administrative agent, (c) the
term “L/C Issuer” shall mean, with respect to Bank of America, such successor
Letter of Credit issuer, (d) the retiring Administrative Agent’s appointment,
powers and duties as Administrative Agent shall be terminated, and (e) the
retiring L/C Issuer’s rights, powers and duties as such shall be terminated
(subject to Section 10.07(h)), without any other or further act or deed on the
part of such retiring L/C Issuer or any other Lender, other than the obligation
of the successor L/C Issuer to issue letters of credit in substitution for the
Letters of Credit, if any, outstanding at the time of such succession or to
make other arrangements satisfactory to the retiring L/C Issuer to effectively
assume the obligations of the retiring L/C Issuer with respect to such Letters
of Credit.  After any retiring
Administrative Agent’s resignation hereunder as Administrative Agent, the
provisions of this Article IX and Sections 10.04 and 10.05
shall inure to its benefit as to any actions taken or omitted to be taken by it
while it was Administrative Agent under this Agreement.  If no 

 

40

 

successor administrative agent has accepted appointment
as Administrative Agent by the date which is 30 days following a retiring
Administrative Agent’s notice of resignation, the retiring Administrative
Agent’s resignation shall nevertheless thereupon become effective and the
Lenders shall perform all of the duties of the Administrative Agent hereunder
until such time, if any, as the Required Lenders appoint a successor agent as
provided for above.

 

9.10                        Administrative Agent May File Proofs of Claim.  In case of the pendency of any receivership,
insolvency, liquidation, bankruptcy, reorganization, arrangement, adjustment,
composition or other judicial proceeding relative to Borrower, the
Administrative Agent (irrespective of whether the principal of any L/C
Obligation shall then be due and payable as herein expressed or by declaration
or otherwise and irrespective of whether the Administrative Agent shall have
made any demand on the Borrower) shall be entitled and empowered, by
intervention in such proceeding or otherwise

 

(a)                                  to
file and prove a claim for the whole amount of the principal and interest owing
and unpaid in respect of the L/C Obligations and all other Obligations that are
owing and unpaid and to file such other documents as may be necessary or
advisable in order to have the claims of the Lenders and the Administrative
Agent (including any claim for the reasonable compensation, expenses,
disbursements and advances of the Lenders and the Administrative Agent and
their respective agents and counsel and all other amounts due the Lenders and
the Administrative Agent under Sections 2.01(h) and (i), 2.04,
and 10.04) allowed in such judicial proceeding; and

 

(b)                                 to
collect and receive any monies or other property payable or deliverable on any
such claims and to distribute the same;

 

and any custodian,
receiver, assignee, trustee, liquidator, sequestrator or other similar official
in any such judicial proceeding is hereby authorized by each Lender to make
such payments to the Administrative Agent and, in the event that the
Administrative Agent shall consent to the making of such payments directly to
the Lenders, to pay to the Administrative Agent any amount due for the
reasonable compensation, expenses, disbursements and advances of the
Administrative Agent and its agents and counsel, and any other amounts due the
Administrative Agent under Sections 2.04 and 10.04.

 

Nothing contained herein
shall be deemed to authorize the Administrative Agent to authorize or consent
to or accept or adopt on behalf of any Lender any plan of reorganization,
arrangement, adjustment or composition affecting the Obligations or the rights
of any Lender or to authorize the Administrative Agent to vote in respect of
the claim of any Lender in any such proceeding.

 

9.11                        Collateral Matters.

 

(a)                                  The
Administrative Agent is authorized on behalf of all the Lenders, without the
necessity of any notice to or further consent from the Lenders, from time to
time to take any action with respect to any Collateral or the Collateral
Documents which may be necessary to perfect and maintain the perfection of the
security interest in and Liens upon the Collateral granted pursuant to the
Collateral Documents.

 

41

 

(b)                                 The
Lenders irrevocably authorize the Administrative Agent, at its option and in its
discretion, to release any Lien granted to or held by the Administrative Agent
upon any Collateral (i) upon termination of the Commitments and the payment in
full of all Obligations (excluding indemnities not then owed but including any
L/C Obligations, whether or not then payable) payable under this Agreement and
under any other Loan Document, (ii) as permitted under Section 2.02 or
otherwise expressly permitted under this Agreement, or (iii) if approved,
authorized or ratified in writing by the Lenders.

 

9.12                        Other Agents; Arrangers and Managers.  None of the Lenders or
other Persons identified on the facing page or signature pages of this
Agreement as a “syndication agent,” “documentation agent,” “co-agent,” “book
manager,” “lead manager,” “arranger,” “lead arranger” or “co-arranger” shall
have any right, power, obligation, liability, responsibility or duty under this
Agreement other than, in the case of such Lenders, those applicable to all
Lenders as such.  Without limiting the
foregoing, none of the Lenders or other Persons so identified shall have or be
deemed to have any fiduciary relationship with any Lender.  Each Lender acknowledges that it has not
relied, and will not rely, on any of the Lenders or other Persons so identified
in deciding to enter into this Agreement or in taking or not taking action
hereunder.

 

ARTICLE
X.

MISCELLANEOUS

 

10.01                 Amendments, Etc. 
No amendment or waiver of any provision of this Agreement or any other
Loan Document, and no consent to any departure by the Borrower therefrom, shall
be effective unless in writing signed by the Required Lenders and the Borrower,
and acknowledged by the Administrative Agent, and each such waiver or consent
shall be effective only in the specific instance and for the specific purpose
for which given; provided, however, that no such amendment,
waiver or consent shall:

 

(a)                                  extend
or increase the Commitment of any Lender (or reinstate any Commitment
terminated pursuant to Section 8.02) without the written consent of such
Lender;

 

(b)                                 postpone
any date fixed by this Agreement or any other Loan Document for any payment of
principal, interest, fees or other amounts due to the Lenders (or any of them)
hereunder or under any other Loan Document without the written consent of each
Lender directly affected thereby;

 

(c)                                  reduce
the principal of, or the rate of interest specified herein on, any L/C
Borrowing, or (subject to clause (iii) of the proviso to this Section
10.01) any fees or other amounts payable hereunder or under any other Loan
Document without the written consent of each Lender directly affected thereby; provided,
however, that only the consent of the Required Lenders shall be
necessary to amend the definition of “Default Rate” or to waive any obligation
of the Borrower to pay interest at the Default Rate;

 

(d)                                 change
Section 2.08 or Section 8.03 in a manner that would alter the pro
rata sharing of payments required thereby without the written consent of each
Lender; or

 

42

 

(d)                                 release
the Liens upon any material portion of the Collateral (other than the releases
authorized under Section 2.02 or Section 9.11(b)); or  

 

(e)                                  change
any provision of this Section or the definition of “Required Lenders” or any
other provision hereof specifying the number or percentage of Lenders required
to amend, waive or otherwise modify any rights hereunder or make any
determination or grant any consent hereunder, without the written consent of
each Lender;

 

and, provided  further,
that (i) no amendment, waiver or consent shall, unless in writing and signed by
the L/C Issuer in addition to the Lenders or Required Lenders required above,
affect the rights or duties of the L/C Issuer under this Agreement or any
Letter of Credit Application relating to any Letter of Credit issued or to be
issued by it; (ii) no amendment, waiver or consent shall, unless in writing and
signed by the Administrative Agent in addition to the Lenders or Required
Lenders required above, affect the rights or duties of the Administrative Agent
under this Agreement or any other Loan Document; (iii) the Agent/Arranger Fee
Letter may be amended, or rights or privileges thereunder waived, in a writing
executed only by the parties thereto. 
Notwithstanding anything to the contrary herein, no Defaulting Lender
shall have any right to approve or disapprove any amendment, waiver or consent
hereunder, except that the Commitment of such Lender may not be increased or
extended without the consent of such Lender.

 

10.02                 Notices and Other Communications;
Facsimile Copies.

 

(a)                                  General.  Unless otherwise expressly provided herein,
all notices and other communications provided for hereunder shall be in writing
(including by facsimile transmission). 
All such written notices shall be mailed, faxed or delivered to the
applicable address, facsimile number or (subject to subsection (c) below)
electronic mail address, and all notices and other communications expressly
permitted hereunder to be given by telephone shall be made to the applicable
telephone number, as follows:

 

(i)                                     if
to the Borrower, the Administrative Agent or the L/C Issuer, to the address,
facsimile number, electronic mail address or telephone number specified for
such Person on Schedule 10.02 or to such other address, facsimile
number, electronic mail address or telephone number as shall be designated by
such party in a notice to the other parties; and

 

(ii)                                  if
to any other Lender, to the address, facsimile number, electronic mail address
or telephone number specified in Schedule 10.02 or to such other address,
facsimile number, electronic mail address or telephone number as shall be
designated by such party in a notice to the Borrower, the Administrative Agent
and the L/C Issuer.

 

All such notices and
other communications shall be deemed to be given or made upon the earlier to
occur of (i) actual receipt by the relevant party hereto and (ii) (A) if
delivered by hand or by courier, when signed for by or on behalf of the
relevant party hereto; (B) if delivered by mail, four Business Days after
deposit in the mails, postage prepaid; (C) if delivered by facsimile, when sent
and receipt has been confirmed by (x) telephone or (y) by email confirmation of
receipt sent by the relevant party receiving the facsimile to the party sending
the facsimile; and 

 

43

 

(D) if delivered by
electronic mail (which form of delivery is subject to the provisions of
subsection (c) below), when delivered; provided, however, that
notices and other communications to the Administrative Agent and the L/C Issuer
pursuant to Article II shall not be effective until actually received by
such Person.  In no event shall a
voicemail message be effective as a notice, communication or confirmation
hereunder.

 

(b)                                 Effectiveness
of Facsimile Documents and Signatures. 
Loan Documents may be transmitted and/or signed by facsimile.  The effectiveness of any such documents and
signatures shall, subject to applicable Law, have the same force and effect as
manually-signed originals and shall be binding on Borrower, the Administrative
Agent and the Lenders.  The
Administrative Agent may also require that any such documents and signatures be
confirmed by a manually-signed original thereof; provided, however,
that the failure to request or deliver the same shall not limit the
effectiveness of any facsimile document or signature.

 

(c)                                  Limited
Use of Electronic Mail.  Electronic
mail and Internet and intranet websites may be used only to distribute routine
communications, such as financial statements and other information as provided
in Sections  2.02, 6.01 and 6.02, and to distribute
Loan Documents for execution by the parties thereto, and may not be used for
any other purpose, except as agreed in writing by the Borrower and the
Administrative Agent.

 

(d)                                 Reliance
by Administrative Agent and Lenders.  The
Administrative Agent and the Lenders shall be entitled to rely and act upon any
notices purportedly given by a Responsible Officer of the Borrower even if (i)
such notices were not made in a manner specified herein, were incomplete or
were not preceded or followed by any other form of notice specified herein, or
(ii) the terms thereof, as understood by the recipient, varied from any
confirmation thereof.  The Borrower
shall indemnify each Agent-Related Person and each Lender from all losses,
costs, expenses and liabilities resulting from the reliance by such Person on
each notice purportedly given by a Responsible Officer of the Borrower, except
to the extent that such losses, costs, expenses or liabilities are determined
by a court of competent jurisdiction by final and nonappealable judgment to
have resulted from the gross negligence or willful misconduct of such
Person.  All telephonic notices to and
other communications with the Administrative Agent may be recorded by the
Administrative Agent, and each of the parties hereto hereby consents to such
recording.

 

10.03                 No
Waiver; Cumulative Remedies.  No
failure by any Lender or the Administrative Agent to exercise, and no delay by
any such Person in exercising, any right, remedy, power or privilege hereunder
shall operate as a waiver thereof; nor shall any single or partial exercise of
any right, remedy, power or privilege hereunder preclude any other or further
exercise thereof or the exercise of any other right, remedy, power or
privilege.  The rights, remedies, powers
and privileges herein provided are cumulative and not exclusive of any rights,
remedies, powers and privileges provided by law.

 

10.04                 Attorney Costs, Expenses and Taxes.  The Borrower agrees (a) to pay or reimburse
the Administrative Agent for all reasonable costs and expenses incurred in
connection with the development, preparation, negotiation and execution of this
Agreement and the other Loan Documents and any amendment, waiver, consent or
other modification of the provisions hereof and thereof (whether or not the
transactions contemplated hereby or thereby are 

 

44

 

consummated), and the consummation and administration
of the transactions contemplated hereby and thereby, including all reasonable
Attorney Costs, and (b) to pay or reimburse the Administrative Agent and each
Lender for all costs and expenses incurred in connection with the enforcement,
attempted enforcement, or preservation of any rights or remedies under this
Agreement or the other Loan Documents (including all such costs and expenses
incurred during any “workout” or restructuring in respect of the Obligations
and during any legal proceeding, including any proceeding under any Debtor Relief
Law), including all Attorney Costs.  The
foregoing costs and expenses shall include all search, filing, recording, title
insurance and appraisal charges and fees and taxes related thereto, and other
out-of-pocket expenses incurred by the Administrative Agent and the cost of
independent public accountants and other outside experts retained by the
Administrative Agent or any Lender.  All
amounts due under this Section 10.04 shall be payable within ten
Business Days after demand therefor. 
The agreements in this Section shall survive the termination of the
Aggregate Commitments and repayment of all other Obligations.

 

10.05                 Indemnification by the Borrower.  Whether or not the transactions contemplated
hereby are consummated, the Borrower shall indemnify and hold harmless each
Agent-Related Person, each Lender and their respective Affiliates, directors,
officers, employees, counsel, agents and attorneys-in-fact (collectively the “Indemnitees”)
from and against any and all liabilities, obligations, losses, damages,
penalties, claims, demands, actions, judgments, suits, costs, expenses and
disbursements (including reasonable Attorney Costs) of any kind or nature
whatsoever which may at any time be imposed on, incurred by or asserted against
any such Indemnitee in any way relating to or arising out of or in connection
with (a) the execution, delivery, enforcement, performance or administration of
any Loan Document or any other agreement, letter or instrument delivered in
connection with the transactions contemplated thereby or the consummation of
the transactions contemplated thereby, (b) any or Letter of Credit or the use
or proposed use of the proceeds therefrom (including any refusal by the L/C
Issuer to honor a demand for payment under a Letter of Credit if the documents
presented in connection with such demand do not strictly comply with the terms
of such Letter of Credit), or (c) any actual or alleged presence or release of
Hazardous Materials on or from any property currently or formerly owned or
operated by the Borrower or any Subsidiary or any Environmental Liability
related in any way to the Borrower or any Subsidiary, or (d) any actual or
prospective claim, litigation, investigation or proceeding relating to any of
the foregoing, whether based on contract, tort or any other theory (including
any investigation of, preparation for, or defense of any pending or threatened
claim, investigation, litigation or proceeding) and regardless of whether any
Indemnitee is a party thereto (all the foregoing, collectively, the “Indemnified
Liabilities”), in all cases, whether or not caused by or arising, in whole
or in part, out of the negligence of the Indemnitee; provided that the
Borrower shall have no obligation hereunder to any Indemnitee with respect to
(i) Indemnified Liabilities that are determined by a court of competent
jurisdiction by final and nonappealable judgment to have resulted from the
gross negligence or willful misconduct of such Indemnitee, (ii) any material
violation of any banking law or regulation by such Indemnitee, (iii) any
liability as between or among any Indemnitee or their respective shareholders
and Controlling persons, (iv) any default hereunder by any Person other than
the Borrower, or (v) any Taxes or Other Taxes, except to the extent such Taxes
or Other Taxes are indemnified against by other provisions of this
Agreement.  No Indemnitee shall be
liable for any damages arising from the use by others of any information or
other materials obtained through IntraLinks or other similar information transmission
systems in 

 

45

 

connection with this Agreement except to the extent
such damages are determined by a court of competent jurisdiction by final and
nonappealable judgment to have resulted from the gross negligence or willful
misconduct of such Indemnitee.  All
amounts due under this Section 10.05 shall be payable within ten
Business Days after demand therefor. 
The agreements in this Section shall survive the resignation of the
Administrative Agent, the replacement of any Lender, the termination of the
Aggregate Commitments and the repayment, satisfaction or discharge of all the
other Obligations.

 

10.06                 Payments Set Aside.  To the extent that any payment by or on behalf of the Borrower is
made to the Administrative Agent or any Lender, or the Administrative Agent or
any Lender exercises its right of set-off, and such payment or the proceeds of
such set-off or any part thereof is subsequently invalidated, declared to be
fraudulent or preferential, set aside or required (including pursuant to any
settlement entered into by the Administrative Agent or such Lender in its
discretion) to be repaid to a trustee, receiver or any other party, in
connection with any proceeding under any Debtor Relief Law or otherwise, then
(a) to the extent of such recovery, the obligation or part thereof originally
intended to be satisfied shall be revived and continued in full force and
effect as if such payment had not been made or such set-off had not occurred,
and (b) each Lender severally agrees to pay to the Administrative Agent upon
demand its applicable share of any amount so recovered from or repaid by the
Administrative Agent, plus interest thereon from the date of such demand to the
date such payment is made at a rate per annum equal to the Federal Funds Rate
from time to time in effect.

 

10.07                 Successors and Assigns.

 

(a)                                  The
provisions of this Agreement shall be binding upon and inure to the benefit of
the parties hereto and their respective successors and assigns permitted
hereby, except that the Borrower may not assign or otherwise transfer any of
its rights or obligations hereunder without the prior written consent of each
Lender and no Lender may assign or otherwise transfer any of its rights or
obligations hereunder except (i) to an Eligible Assignee in accordance with the
provisions of subsection (b) of this Section, (ii) by way of participation in
accordance with the provisions of subsection (d) of this Section, or (iii) by
way of pledge or assignment of a security interest subject to the restrictions
of subsection (f) of this Section (and any other attempted assignment or
transfer by any party hereto shall be null and void).  Nothing in this Agreement, expressed or implied, shall be
construed to confer upon any Person (other than the parties hereto, their
respective successors and assigns permitted hereby, Participants to the extent
provided in subsection (d) of this Section and, to the extent expressly
contemplated hereby, the Indemnitees) any legal or equitable right, remedy or
claim under or by reason of this Agreement.

 

(b)                                 Any
Lender may at any time assign to one or more Eligible Assignees all or a
portion of its rights and obligations under this Agreement (including all or a
portion of its Commitment (including for purposes of this subsection (b),
participations in L/C Obligations) at the time owing to it); provided
that (i) except in the case of an assignment of the entire remaining amount of
the assigning Lender’s Commitment at the time owing to it or in the case of an
assignment to a Lender or an Affiliate of a Lender or an Approved Fund (as
defined in subsection (g) of this Section) with respect to a Lender, the
aggregate amount of the Commitment subject to each such assignment, determined
as of the date the Assignment and Assumption with respect to such assignment is
delivered to the Administrative Agent or, if 

 

46

 

“Trade Date” is specified
in the Assignment and Assumption, as of the Trade Date, shall not be less than
$5,000,000unless each of the Administrative Agent and, so long as no Event of
Default has occurred and is continuing, the Borrower otherwise consents (each
such consent not to be unreasonably withheld or delayed); (ii) each partial
assignment shall be made as an assignment of a proportionate part of all the
assigning Lender’s rights and obligations under this Agreement with respect to
the Commitment assigned; (iii) any assignment of a Commitment must be approved
by the Administrative Agent and the L/C Issuer unless the Person that is the
proposed assignee is itself a Lender (whether or not the proposed assignee
would otherwise qualify as an Eligible Assignee); and (iv) the parties to each
assignment shall execute and deliver to the Administrative Agent an Assignment
and Assumption, together with a processing and recordation fee of $3,500.  Subject to acceptance and recording thereof
by the Administrative Agent pursuant to subsection (c) of this Section, from
and after the effective date specified in each Assignment and Assumption, the
Eligible Assignee thereunder shall be a party to this Agreement and, to the
extent of the interest assigned by such Assignment and Assumption, have the
rights and obligations of a Lender under this Agreement, and the assigning
Lender thereunder shall, to the extent of the interest assigned by such
Assignment and Assumption, be released from its obligations under this
Agreement (and, in the case of an Assignment and Assumption covering all of the
assigning Lender’s rights and obligations under this Agreement, such Lender
shall cease to be a party hereto but shall continue to be entitled to the
benefits of Sections 3.01, 3.02, 10.04 and 10.05
with respect to facts and circumstances occurring prior to the effective date of
such assignment).  Any assignment or
transfer by a Lender of rights or obligations under this Agreement that does
not comply with this subsection shall be treated for purposes of this Agreement
as a sale by such Lender of a participation in such rights and obligations in
accordance with subsection (d) of this Section.

 

(c)                                  The
Administrative Agent, acting solely for this purpose as an agent of the
Borrower, shall maintain at the Administrative Agent’s Office a copy of each
Assignment and Assumption delivered to it and a register for the recordation of
the names and addresses of the Lenders, and the Commitments of, and principal
amounts of the L/C Obligations owing to, each Lender pursuant to the terms
hereof from time to time (the “Register”).  The entries in the Register shall be conclusive, and the
Borrower, the Administrative Agent and the Lenders may treat each Person whose
name is recorded in the Register pursuant to the terms hereof as a Lender
hereunder for all purposes of this Agreement, notwithstanding notice to the
contrary.  The Register shall be
available for inspection by the Borrower and any Lender, at any reasonable time
and from time to time upon reasonable prior notice.

 

(d)                                 Any
Lender may at any time, without the consent of, or notice to, the Borrower or
the Administrative Agent, sell participations to any Person (other than a
natural person or the Borrower or any of the Borrower’s Affiliates or
Subsidiaries) (each, a “Participant”) in all or a portion of such
Lender’s rights and/or obligations under this Agreement (including all or a
portion of its Commitment (including such Lender’s participations in L/C
Obligations) owing to it); provided that (i) such Lender’s
obligations under this Agreement shall remain unchanged, (ii) such Lender
shall remain solely responsible to the other parties hereto for the performance
of such obligations and (iii) the Borrower, the Administrative Agent and
the other Lenders shall continue to deal solely and directly with such Lender
in connection with such Lender’s rights and obligations under this
Agreement.  Any agreement or instrument
pursuant to which a Lender sells such a participation shall provide that such
Lender shall retain the sole right to enforce this 

 

47

 

Agreement and to approve
any amendment, modification or waiver of any provision of this Agreement; provided
that such agreement or instrument may provide that such Lender will not,
without the consent of the Participant, agree to any amendment, waiver or other
modification described in the first proviso to Section 10.01 that
directly affects such Participant. 
Subject to subsection (e) of this Section, the Borrower agrees that each
Participant shall be entitled to the benefits of Section 3.02  to
the same extent as if it were a Lender and had acquired its interest by
assignment pursuant to subsection (b) of this Section.  To the extent permitted by law, each
Participant also shall be entitled to the benefits of Section 10.09  as
though it were a Lender, provided such Participant agrees to be subject
to Section 2.08 as though it were a Lender.

 

(e)                                  A
Participant shall not be entitled to receive any greater payment under Section
3.01 or 3.02  than the applicable Lender would have
been entitled to receive with respect to the participation sold to such
Participant, unless the sale of the participation to such Participant is made
with the Borrower’s prior written consent. 
A Participant that would be a Foreign Lender if it were a Lender shall
not be entitled to the benefits of Section 3.01 unless the Borrower
is notified of the participation sold to such Participant and such Participant
agrees, for the benefit of the Borrower, to comply with Section 10.15 as
though it were a Lender.

 

(f)                                    Any
Lender may at any time pledge or assign a security interest in all or any
portion of its rights under this Agreement to secure obligations of such
Lender, including any pledge or assignment to secure obligations to a Federal
Reserve Bank; provided that no such pledge or assignment shall release
such Lender from any of its obligations hereunder or substitute any such
pledgee or assignee for such Lender as a party hereto.

 

(g)                                 As
used herein, the following terms have the following meanings:

 

“Eligible
Assignee” means (a) a Lender; (b) an Affiliate of a Lender; (c) an Approved
Fund; and (d) any other Person (other than a natural person) approved by (i)
the Administrative Agent and the L/C Issuers, and (ii) unless an Event of
Default has occurred and is continuing, the Borrower (each such approval not to
be unreasonably withheld or delayed); provided that notwithstanding the
foregoing, “Eligible Assignee” shall not include the Borrower or any of the
Borrower’s Affiliates or Subsidiaries.

 

“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.

 

“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.

 

(h)                                 Notwithstanding
anything to the contrary contained herein, if at any time, any L/C Issuer
assigns all of its Commitment pursuant to subsection (b) above, such L/C Issuer
may, upon 30 days’ notice to the Borrower and the Lenders, resign as an L/C
Issuer.  In the event of any such
resignation by any L/C Issuer, the Borrower shall be entitled to appoint from
among the Lenders a successor L/C Issuer hereunder; provided, however,
that no failure by the Borrower to appoint any such successor shall affect the
resignation of such L/C Issuer.  Any L/C
Issuer which 

 

48

 

resigns (whether in connection
with assignment of all of its Commitments pursuant to subsection (b) above or
pursuant to Section 9.09 above) shall retain all of its respective rights and
obligations as an L/C Issuer hereunder with respect to all outstanding Letters
of Credit issued by it as of the effective date of its resignation as an L/C
Issuer and all L/C Obligations with respect thereto (including the right to
require the Lenders to fund participations in Unreimbursed Amounts pursuant to Section
2.01(c)).

 

10.08                 Confidentiality. 
Each of the Administrative Agent, the L/C Issuers and the Lenders agrees
to maintain the confidentiality of the Information (as defined below), except
that Information may be disclosed (a) to its and its Affiliates’ directors,
officers, employees and agents, including accountants, legal counsel and other
advisors (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 (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 other Loan Document or any action or proceeding relating
to this Agreement or any other Loan Document or the enforcement of rights
hereunder or thereunder, (f) subject to an agreement containing provisions
substantially the same as those of this Section, to any assignee of or
Participant in, or any prospective assignee of or Participant in, any of its
rights or obligations under this Agreement, (g) with the prior written 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, L/C Issuer, as applicable, or any Lender
on a nonconfidential basis from a source other than the Borrower, provided that
such source is not bound by a confidentiality agreement with the Borrower or
any of its Subsidiaries known to such Administrative Agent, L/C Issuer or
Lender; (i) to the National Association of Insurance Commissioners or any other
similar organization or any nationally recognized rating agency that requires
access to information about a Lender’s or its Affiliates’ investment portfolio
in connection with ratings issued with respect to such Lender or its
Affiliates, or (j) to the extent such Person is an export credit agency and is
required to disclose such Information by its disclosure policy.  For purposes of this Section, “Information”
means all information received from Borrower or any of its Subsidiaries
relating to Borrower, 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 nonconfidential basis prior to disclosure by Borrower, provided
that, in the case of information received from Borrower after the Closing Date,
such information is clearly identified at the time of delivery as
confidential.  Any Person required to
maintain the confidentiality of Information as provided in this Section shall
be considered to have complied with its obligation to do so if such Person has
exercised the same degree of care to maintain the confidentiality of such
Information as such Person would accord to its own confidential information.  Notwithstanding anything herein to the
contrary, “Information” shall not include, and the Administrative Agent and
each Lender may disclose without limitation of any kind, any information with
respect to the “tax treatment” and “tax structure” (in each case, within the
meaning of Treasury Regulation Section 1.6011-4) of the transactions
contemplated hereby and all materials of any kind (including opinions or other
tax analyses) that are provided to the Administrative Agent or such Lender
relating to such tax treatment and tax structure; provided that with
respect to any document or similar item that in either case contains
information 

 

49

 

concerning the tax treatment or tax structure of the
transaction as well as other information, this sentence shall only apply to
such portions of the document or similar item that relate to the tax treatment
or tax structure of the Letters of Credit and transactions contemplated hereby.

 

10.09                 Set-off.  In addition to any rights and remedies of
the Lenders provided by law, upon the occurrence and during the continuance of
any Event of Default, each Lender is authorized at any time and from time to
time, without prior notice to the Borrower, any such notice being waived by the
Borrower to the fullest extent permitted by law, to set off and apply any and
all deposits (general or special, time or demand, provisional or final) at any
time held by, and other indebtedness at any time owing by, such Lender to or
for the credit or the account of the Borrower against any and all Obligations
owing to such Lender hereunder or under any other Loan Document, now or
hereafter existing, irrespective of whether or not the Administrative Agent or
such Lender shall have made demand under this Agreement or any other Loan
Document and although such Obligations may be contingent or unmatured or
denominated in a currency different from that of the applicable deposit or
indebtedness.  Each Lender agrees promptly
to notify the Borrower and the Administrative Agent after any such set-off and
application made by such Lender; provided, however, that the
failure to give such notice shall not affect the validity of such set-off and
application.

 

10.10                 Interest Rate Limitation.  Notwithstanding anything to the contrary
contained in any Loan Document, the interest paid or agreed to be paid under
the Loan Documents shall not exceed the maximum rate of non-usurious interest
permitted by applicable Law (the “Maximum Rate”).  If the Administrative Agent or any Lender
shall receive interest in an amount that exceeds the Maximum Rate, the excess
interest shall be applied to the principal of any L/C Borrowings or, if it
exceeds such unpaid principal, refunded to the Borrower.  In determining whether the interest contracted
for, charged, or received by the Administrative Agent or a Lender exceeds the
Maximum Rate, such Person may, to the extent permitted by applicable Law, (a)
characterize any payment that is not principal as an expense, fee, or premium
rather than interest, (b) exclude voluntary prepayments and the effects
thereof, and (c) amortize, prorate, allocate, and spread in equal or unequal
parts the total amount of interest throughout the contemplated term of the
Obligations hereunder.

 

10.11                 Counterparts. 
This Agreement may be executed in one or more counterparts, each of
which shall be deemed an original, but all of which together shall constitute
one and the same instrument.

 

10.12                 Integration. 
This Agreement, together with the other Loan Documents, comprises the
complete and integrated agreement of the parties on the subject matter hereof
and thereof and supersedes all prior agreements, written or oral, on such
subject matter.  In the event of any
conflict between the provisions of this Agreement and those of any other Loan
Document, the provisions of this Agreement shall control; provided that
the inclusion of supplemental rights or remedies in favor of the Administrative
Agent or the Lenders in any other Loan Document shall not be deemed a conflict
with this Agreement.  Each Loan Document
was drafted with the joint participation of the respective parties thereto and
shall be construed neither against nor in favor of any party, but rather in
accordance with the fair meaning thereof.

 

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10.13                 Survival of Representations and Warranties.  All representations and warranties made
hereunder and in any other Loan Document or other document delivered pursuant
hereto or thereto or in connection herewith or therewith shall survive the
execution and delivery hereof and thereof. 
Such representations and warranties have been or will be relied upon by
the Administrative Agent and each Lender, regardless of any investigation made
by the Administrative Agent or any Lender or on their behalf and
notwithstanding that the Administrative Agent or any Lender may have had notice
or knowledge of any Default at the time of any Credit Extension, and shall
continue in full force and effect as long as any Obligation hereunder shall remain
unpaid or unsatisfied or any Letter of Credit shall remain outstanding.

 

10.14                 Severability. 
If any provision of this Agreement or the other Loan Documents is held
to be illegal, invalid or unenforceable, (a) the legality, validity and
enforceability of the remaining provisions of this Agreement and the other Loan
Documents shall not be affected or impaired thereby and (b) the parties shall
endeavor in good faith negotiations to replace the illegal, invalid or
unenforceable provisions with valid provisions the economic effect of which
comes as close as possible to that of the illegal, invalid or unenforceable
provisions.  The invalidity of a
provision in a particular jurisdiction shall not invalidate or render unenforceable
such provision in any other jurisdiction.

 

10.15                 Tax
Forms.  (a)  (i) 
Each Lender that is not a “United States person” within the meaning of
Section 7701(a)(30) of the Code (a “Foreign Lender”) shall deliver to
the Administrative Agent, prior to receipt of any payment subject to withholding
under the Code (or upon accepting an assignment of an interest herein), two
duly signed completed copies of either IRS Form W-8BEN or any successor thereto
(relating to such Foreign Lender and entitling it to an exemption from, or
reduction of, withholding tax on all payments to be made to such Foreign Lender
by the Borrower pursuant to this Agreement) or IRS Form W-8ECI or any successor
thereto (relating to all payments to be made to such Foreign Lender by the
Borrower pursuant to this Agreement) or such other evidence satisfactory to the
Borrower and the Administrative Agent that such Foreign Lender is entitled to
an exemption from, or reduction of, U.S. withholding tax, including any
exemption pursuant to Section 881(c) of the Code.  Thereafter and from time to time, each such Foreign Lender shall
(A) promptly submit to the Administrative Agent such additional duly completed
and signed copies of one of such forms (or such successor forms as shall be
adopted from time to time by the relevant United States taxing authorities) as
may then be available under then current United States laws and regulations to
avoid, or such evidence as is satisfactory to the Borrower and the
Administrative Agent of any available exemption from or reduction of, United States
withholding taxes in respect of all payments to be made to such Foreign Lender
by the Borrower pursuant to this Agreement, (B) promptly notify the
Administrative Agent of any change in circumstances which would modify or
render invalid any claimed exemption or reduction, and (C) take such steps as
shall not be materially disadvantageous to it, in the reasonable judgment of
such Lender, and as may be reasonably necessary (including the re-designation
of its Lending Office) to avoid any requirement of applicable Laws that the
Borrower make any deduction or withholding for taxes from amounts payable to
such Foreign Lender.

 

(ii)                                  Each
Foreign Lender, to the extent it does not act or ceases to act for its own
account with respect to any portion of any sums paid or payable to such Lender
under any of the Loan Documents (for example, in the case of a typical
participation by such Lender), shall 

 

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deliver to the
Administrative Agent on the date when such Foreign Lender ceases to act for its
own account with respect to any portion of any such sums paid or payable, and
at such other times as may be necessary in the determination of the
Administrative Agent (in the reasonable exercise of its discretion), (A) two duly
signed completed copies of the forms or statements required to be provided by
such Lender as set forth above, to establish the portion of any such sums paid
or payable with respect to which such Lender acts for its own account that is
not subject to U.S. withholding tax, and (B) two duly signed completed copies
of IRS Form W-8IMY (or any successor thereto), together with any information
such Lender chooses to transmit with such form, and any other certificate or
statement of exemption required under the Code, to establish that such Lender
is not acting for its own account with respect to a portion of any such sums
payable to such Lender.

 

(iii)                               The
Borrower shall not be required to pay any additional amount to any Foreign
Lender under Section 3.01 (A) with respect to any Taxes required to be
deducted or withheld on the basis of the information, certificates or
statements of exemption such Lender transmits with an IRS Form W-8IMY pursuant
to this Section 10.15(a) or (B) if such Lender shall have failed to satisfy
the foregoing provisions of this Section 10.15(a); provided that
if such Lender shall have satisfied the requirement of this Section 10.15(a)
on the date such Lender became a Lender or ceased to act for its own account
with respect to any payment under any of the Loan Documents, nothing in this Section
10.15(a) shall relieve the Borrower of its obligation to pay any amounts
pursuant to Section 3.01 in the event that, as a result of any change in
any applicable law, treaty or governmental rule, regulation or order, or any
change in the interpretation, administration or application thereof, such
Lender is no longer properly entitled to deliver forms, certificates or other
evidence at a subsequent date establishing the fact that such Lender or other Person
for the account of which such Lender receives any sums payable under any of the
Loan Documents is not subject to withholding or is subject to withholding at a
reduced rate.

 

(iv)                              The
Administrative Agent may, without reduction, withhold any Taxes required to be
deducted and withheld from any payment under any of the Loan Documents with
respect to which the Borrower is not required to pay additional amounts under
this Section 10.15(a).

 

(b)                                 Upon
the request of the Administrative Agent, each Lender that is a “United States
person” within the meaning of Section 7701(a)(30) of the Code shall deliver to
the Administrative Agent two duly signed completed copies of IRS Form W-9.  If such Lender fails to deliver such forms,
then the Administrative Agent may withhold from any interest payment to such
Lender an amount equivalent to the applicable back-up withholding tax imposed
by the Code, without reduction.

 

(c)                                  If
any Governmental Authority asserts that the Administrative Agent did not
properly withhold or backup withhold, as the case may be, any tax or other
amount from payments made to or for the account of any Lender, such Lender
shall indemnify the Administrative Agent therefor, including all penalties and
interest, any taxes imposed by any jurisdiction on the amounts payable to the
Administrative Agent under this Section, and costs and expenses (including
Attorney Costs) of the Administrative Agent. 
The obligation of the Lenders under this Section shall survive the termination
of the Aggregate Commitments, repayment of all other Obligations hereunder and
the resignation of the Administrative Agent.

 

52

 

10.16                 Replacement of Lenders.  Under
any circumstances set forth herein providing that the Borrower shall have the
right to replace a Lender as a party to this Agreement, the Borrower may, upon
notice to such Lender and the Administrative Agent, replace such Lender by
causing such Lender to assign its Commitment (with the assignment fee to be
paid by the Borrower in such instance) pursuant to Section 10.07(b)
to one or more other Lenders or Eligible Assignees procured by the Borrower; provided,
however, that if the Borrower elects to exercise such right with respect
to any Lender pursuant to Section 3.03(b), it shall be obligated to
replace all Lenders that have made similar requests for compensation pursuant
to Section 3.01 or 3.02 outstanding at such time.  The Borrower shall pay in full all
principal, interest, fees and other amounts owing to such Lender through the
date of replacement and (y) release such Lender from its obligations under the
Loan Documents.  Any Lender being
replaced shall execute and deliver an Assignment and Assumption with respect to
such Lender’s Commitment and participations in L/C Obligations.

 

10.17                 Governing Law.

 

(a)                                  THIS
AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF
THE STATE OF NEW YORK APPLICABLE TO AGREEMENTS MADE AND TO BE PERFORMED
ENTIRELY WITHIN SUCH STATE;  PROVIDED THAT THE ADMINISTRATIVE
AGENT AND EACH LENDER SHALL RETAIN ALL RIGHTS ARISING UNDER FEDERAL LAW.

 

(b)                                 ANY
LEGAL ACTION OR PROCEEDING WITH RESPECT TO THIS AGREEMENT OR ANY OTHER LOAN
DOCUMENT MAY BE BROUGHT IN THE COURTS OF THE STATE OF NEW YORK SITTING IN NEW
YORK COUNTY OR OF THE UNITED STATES FOR THE SOUTHERN  DISTRICT OF SUCH STATE, AND
BY EXECUTION AND DELIVERY OF THIS AGREEMENT, THE BORROWER, THE ADMINISTRATIVE
AGENT AND EACH LENDER CONSENTS, FOR ITSELF AND IN RESPECT OF ITS PROPERTY, TO
THE NON-EXCLUSIVE JURISDICTION OF THOSE COURTS.  THE BORROWER, THE ADMINISTRATIVE AGENT AND EACH LENDER
IRREVOCABLY WAIVES ANY OBJECTION, INCLUDING ANY OBJECTION TO THE LAYING OF
VENUE OR BASED ON THE GROUNDS OF FORUM NON CONVENIENS, WHICH IT MAY NOW OR
HEREAFTER HAVE TO THE BRINGING OF ANY ACTION OR PROCEEDING IN SUCH JURISDICTION
IN RESPECT OF ANY LOAN DOCUMENT OR OTHER DOCUMENT RELATED THERETO.  THE BORROWER, THE ADMINISTRATIVE AGENT AND
EACH LENDER WAIVES PERSONAL SERVICE OF ANY SUMMONS, COMPLAINT OR OTHER PROCESS,
WHICH MAY BE MADE BY ANY OTHER MEANS PERMITTED BY THE LAW OF SUCH STATE.

 

53

 

10.18                 Waiver of Right to Trial by Jury.  EACH PARTY TO THIS AGREEMENT HEREBY
EXPRESSLY WAIVES ANY RIGHT TO TRIAL BY JURY OF ANY CLAIM, DEMAND, ACTION OR
CAUSE OF ACTION ARISING UNDER ANY LOAN DOCUMENT OR IN ANY WAY CONNECTED WITH OR
RELATED OR INCIDENTAL TO THE DEALINGS OF THE PARTIES HERETO OR ANY OF THEM WITH
RESPECT TO ANY LOAN DOCUMENT, OR THE TRANSACTIONS RELATED THERETO, IN EACH CASE
WHETHER NOW EXISTING OR HEREAFTER ARISING, AND WHETHER FOUNDED IN CONTRACT OR
TORT OR OTHERWISE; AND EACH PARTY HEREBY AGREES AND CONSENTS THAT ANY SUCH
CLAIM, DEMAND, ACTION OR CAUSE OF ACTION SHALL BE DECIDED BY COURT TRIAL
WITHOUT A JURY, AND THAT ANY PARTY TO THIS AGREEMENT MAY FILE AN ORIGINAL
COUNTERPART OR A COPY OF THIS SECTION WITH ANY COURT AS WRITTEN EVIDENCE OF THE
CONSENT OF THE SIGNATORIES HERETO TO THE WAIVER OF THEIR RIGHT TO TRIAL BY
JURY.

 

10.19                 Time of the Essence.  Time is of the essence of the Loan
Documents.

 

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