Document:

Exhibit
10.2

AMENDED AND RESTATED EMPLOYMENT AGREEMENT

THIS AMENDED AND RESTATED EMPLOYMENT AGREEMENT (the “Agreement”)
is made and entered into effective this 7th day of September 2007 by and
between Natalie Schramm (hereinafter referred to as “Employee”) and
Peninsula Gaming, LLC, a Delaware limited liability company (hereinafter
referred to as “Employer”).

WHEREAS, the Employer and the Employee are parties to
an Employment Agreement, dated as of November 29, 2004 (the “Original
Agreement”) and desire to enter into this amended and restated employment
agreement on the terms and conditions set forth herein.

NOW, THEREFORE, in consideration of the promises made
in this Agreement and for other good and valuable consideration, the receipt
and sufficiency of which are acknowledged by the parties, and intending to be
legally bound hereby, the parties hereby agree that, effective as of November
29, 2004, the Original Agreement be, and hereby is, amended and restated in its
entirety as set forth below:

1.                                       TERM
OF AGREEMENT.  The term of the
Agreement shall be for an initial three (3) year period commencing July 1, 2004
through June 30, 2007 (the “Initial Term”) and shall be renewed for a
three (3) year period commencing July 1, 2007 through June 30, 2010 (the “Renewal
Term”).  This Agreement shall
automatically renew and continue for successive one-year terms commencing at
the end of the Renewal Term and every year thereafter, unless either party
gives the other party written notice of the party’s intention not to renew this
Agreement for a further one-year term at least thirty (30) days prior to the
expiration of a term, unless terminated by agreement of the parties or pursuant
to Section 2 of this Agreement (the Initial Term and the Renewal Term,
together with any subsequent renewal period, hereinafter referred to as the “Term”).

2.                                       TERMINATION.  This Agreement may be terminated at any time
before any expiration date by the agreement of the parties, and may be
terminated by Employee at any time upon ninety (90) days advance written notice
to the Chief Executive Officer of the Employer (the “CEO”).  In the event that this Agreement is
terminated by Employee pursuant to the immediately preceding sentence upon
ninety (90) advance written notice, Employee shall be entitled to continue
receiving her regular salary for so long as Employee is permitted to and
actually continues to render services to Employer during such ninety (90) day
period following such notice.  If
Employee is directed by Employer to cease work prior to expiration of such
ninety (90) day period, Employee shall nevertheless be entitled to receive her
regular salary for such period.  In
addition, this Agreement may be terminated by the Employer immediately upon the
occurrence of any of the following events:  (a) Employee’s death, (b) Employee becoming
physically or mentally disabled (a “Disability”), which Disability
renders Employee unable to perform, as certified by a mutually agreeable
competent medical physician, a substantial portion of Employee’s duties
hereunder for a continuous period of sixty (60) days or a total of ninety (90)
days in any three hundred sixty-five (365) day period, (c) Employee’s
commission of an act of embezzlement, fraud, misappropriation against the
Employer, (d) Employee’s conviction of, or entry of a plea of guilty or nolo
contendere or its equivalent of, a felony, (e) Employee’s continued
neglect or failure to discharge Employee’s duties or responsibilities or the
repeated taking of any action prohibited by Employee’s immediate supervisor,
the managing member or

the
board of managers of the Employer materially affecting the fundamental
operating results of the Employer, or Employee’s engagement of conduct
injurious to the Employer or having an adverse effect on the Employer’s reputation
or business operations, all of which threatens or is likely to threaten the
licensed status of the Employee or the Employer, (f) the revocation, suspension
for more than thirty (30) days, or voluntary relinquishment of any gaming
license necessary for the performance of Employee’s duties hereunder or (g)
Employee’s breach or violation of any material term or material provision of
this Agreement (clauses (a) through (g) collectively, “Cause”);
provided, however, that in the case of clauses (e), (f)
and (g) of this Section 2, Employee shall be entitled to thirty
(30) days notice of termination, during which thirty (30) day period Employee
shall have the right to remedy any such breach or default, but in no event will
Employee be entitled to more than one thirty (30) day notice for breach of
violation of the same offense; subsequent commission of the same offense shall
warrant immediate termination.  In the
event of a termination of this Agreement by Employer, other than for Cause or
upon a Change of Control (as defined below), during any Term of this Agreement,
Employee shall be entitled to receive as severance pay the greater of (a) the
balance of base compensation due to Employee for the remainder of the Term or
(b) twelve month’s compensation, which payments shall be made as they would
otherwise have become due under the payroll schedule of Employer.  Under such circumstances, Employee shall also
be entitled to receive a prorated share of the cash bonus to which Employee
otherwise would be entitled had Employee’s employment continued to the end of
the Term, as provided in Section 4(a). 
In addition, the employee shall also be entitled to receive the
immediate payment for the value of all Granted Units previously vested, as
described in Section 4(b) below.

3.                                       DUTIES.  Employee shall carry out the duties and
responsibilities generally as identified as the Chief Financial Officer of the
Employer.  Employer acknowledges and
agrees that Employee, in her sole discretion, shall set the time period, number
of hours and location that Employee works in carrying out her duties under this
Agreement.  Employer further acknowledges
and agrees that Employee may provide consulting and other services to third
parties, provided that such services do not significantly interfere with
the performance of Employee’s duties under this Agreement, and further  provided
that such services would not result in a breach by Employee of Section 7
of this Agreement.

4.                                       COMPENSATION
AND BENEFITS.

a.                                       Employee
shall be paid by Employer (i) as compensation for her services for the twelve
month period commencing on the date hereof, the base annual salary of Two
Hundred Fifty-Three Thousand Seven Hundred and Fifty-Five Dollars ($253,755).  Employee’s base annual salary shall be
reviewed on January 1st of each year of service and adjusted upward annually by
not less than five percent (5%) of the prior year’s compensation.  In addition to the base salary, upon January
1st of each year of service with the Employer, Employee shall be entitled to
receive a cash bonus payable by the Employer based on Employee’s performance
during the previous calendar year, which shall be consistent with past
practices and/or the bonus plan in place for similarly situated executive
officers of the Employer.  If this Agreement
is terminated prior to completion of any Term, Employee shall be eligible for a
prorated bonus at termination.

 2
 

b.                                      During
the Initial Term, Employee was given an initial grant, under the incentive unit
plan of Peninsula Gaming Partners, LLC (“PGP”), of a profits interest
representing 1.5% of its outstanding capital interests on a fully diluted basis
(the “Granted Units”).  All
Granted Units that have vested in accordance with their terms, shall, upon the
request of the Employee, be redeemed by the Employer for cash at fair market
value, within ninety (90) days of the date of such request.  For the purpose of determining “fair market
value” in connection with any redemption hereunder, “fair market value” shall
be determined by the Board of Managers of PGP (the “Board”) in its
reasonable discretion, provided, however, that if Employee in
good faith disagrees with the determination of the Board and communicates such
disagreement in writing to the Board not later than three (3) business days
after receipt of such determination, and during the following ten (10) business
day period Employee and the Board are unable to mutually agree on a fair market
value, Employee shall be entitled to select an independent appraiser,
reasonably acceptable to Employer to determine such fair market value, which
determination shall be final and binding on the parties.  If the determination of the independent
appraiser selected by the parties differs in an amount greater than 10% of the
initial determination of the Board, then the cost of such appraisal shall be
borne by Employer, otherwise such cost shall be borne by Employee.

c.                                       To
the extent not inconsistent with Employee’s status as a salaried employee under
a continuing contract, Employee shall be entitled to all benefits accorded
executive officers of Employer in accordance with the terms of the Employer’s
personnel policies, including a deferred compensation plan to be implemented by
Employer.  At a minimum, benefits shall
include health insurance and a life insurance policy from an AM Best A rated
company for the face amount of one million dollars ($1,000,000).

5.                                       CHANGE
OF CONTROL OF EMPLOYER.  If a Change
of Control of Employer shall occur, Employer shall pay Employee an amount equal
to (i) twelve (12) months’ pay based on the annual compensation provided to
Employee pursuant to Section 4(a), including all benefits accrued as of
such date and (ii) the average of the bonuses received in the two calendar
years immediately preceding the calendar year in which the Change of Control
occurred.

For purposes of this Agreement, a “Change of
Control” of Employer shall be deemed to occur when (i) any “person” as
defined in Section 3(a)(9) of the Securities Exchange Act of 1934, as amended
(the “Exchange Act”), and as used in Section 13(d) and 14(d) thereof,
including a “group” as defined in Section 13(d) of the Exchange Act (but
excluding Employee or any affiliate of Employee, PGP, any affiliate (as defined
in Rule 405 promulgated under the Securities Act of 1933 (an “Affiliate”)
of PGP or any employee benefit plan sponsored or maintained by PGP or any
Affiliate of PGP (including any trustee of such plan acting as trustee))
becomes the “beneficial owner” (as defined in Rule 13(d)(3) under the Exchange
Act), directly or indirectly, of equity interests of Employer representing 25%
or more of the combined voting power of Employer’s then outstanding equity
interests; or (ii) any merger or consolidation of Employer with or into any
person or entity or any sale, transfer or other conveyance, whether direct or
indirect, of all or substantially all of the assets of Employer and/or its
subsidiaries, on a consolidated basis, in one transaction or a series of
related transactions, if, immediately after giving effect to such
transaction(s), any “person” or “group” (as such terms are used for purposes of
Sections 13(d) and 14(d) of the Exchange Act, whether or not applicable) is or
becomes the

 3
 

“beneficial
owner,” directly or indirectly, of more than 50% of the total voting power in
the aggregate of the outstanding voting equity interests of the transferee(s)
or surviving entity or entities.

6.                                       INDEMNIFICATION.  Employer shall indemnify, defend and hold and
save Employee, her heirs, administrators or executors and each of them harmless
from any and all actions and causes of action, claims, demand, liabilities,
losses, damages or expenses, of whatsoever kind and nature, including
judgments, interest and reasonable attorney’s fees and all other reasonable
costs, expenses and charges which Employee, her heirs, administrators or
executors and each of them shall or may at any time or from time to time,
subsequent to the effective date of this Agreement, sustain or incur, or become
subject to by reason of any claim or claims against Employee, her heirs, administrators
or executors and each of them while acting within the scope of her employment,
except for gross negligence, misconduct or criminal acts or omissions on the
part of the Employee, and provided that Employee, her heirs,
administrators or executors or one of them properly and promptly notifies
Employer of adverse claims or threatened or actual lawsuits.  Employee, her heirs, administrators or
executors as appropriate, shall provide complete cooperation to Employer, its
attorneys and agents in such case to the extent possible.

7.                                       CONFIDENTIALITY,
NON-COMPETITION AND NON-SOLICITATION.

a.                                       Both
parties acknowledge that the Employee’s position is one of considerable
responsibility and requires considerable training, relationships and contacts
with customers, clients and potential customers and clients, and experience
that it will take a substantial amount of Employer’s time to replace an
employee who has received such training, relationships, contacts and experience
as are typically afforded by Employer; and

b.                                      As
a condition of employment and continued employment of Employee by Employer, the
parties mutually agree that confidentiality of material matters is required in
connection with the business of Employer and in connection with the operations
and the names of Employer’s customers and clients, and that accordingly, it is
vital that Employer be protected from direct or indirect competition from key
employees whose employment might be terminated by or from Employer, said
protection required during employment and for a reasonable period of time after
termination thereof.

c.                                       It
is hereby agreed by and between the parties that, as a part of the valuable
consideration of the employment and continued employment of Employee by
Employer:

(1)                                  That
Employee shall treat and keep secret all material matters relating directly or
indirectly to the business of Employer, including but not limited to, the
content of all manuals, memoranda, production, marketing, promotional and
training materials, financial statements, sales and operations records,
business methods, systems and forms, production records, billing rates, cost
rates, employee salaries and work histories, customer and client lists, mailing
lists, processes, inventions, formulas, job production and cost records, special
terms with customers and clients or 

 4
 

any other material
information relative to the past, present or prospective customers and
operations as completely confidential information entrusted to her solely for
use in her capacity as an employee of Employer. 
Employee further agrees not to keep and/or use any papers, records, or
any information whatsoever relative to any of the matters referred to in the
preceding sentence, nor shall Employee furnish, make available or otherwise
divulge such information to any person during or after her employment by
Employer, unless specifically instructed to do so in writing signed by the CEO.

(2)                                  That
if (i) Employee shall voluntarily, or (ii) for any reason other than in
connection with a Change of Control, Employer shall terminate Employee, it is
specifically agreed and understood that Employee, for a period of one (1) year
from the date of termination, shall not, within a radius of one hundred (100)
miles of Dubuque, Iowa, Opelousas, Louisiana or Northwood, Iowa and/or any
other gaming entities operated by Employer (the “Territories”), directly
or indirectly engage in, be interested in, or in any manner whatsoever be
connected with any casino located within the Territory.

(3)                                  That
if for any reason Employee shall voluntarily or involuntarily terminate her
employment or Employer shall terminate Employee, it is specifically agreed and
understood that Employee, for a period of one (1) year from the date of
termination, shall not, directly or indirectly, in any capacity whatsoever,
hire or solicit for employment any employee of Employer.

8.                                       ENTIRE
AGREEMENT; SUCCESSORS AND ASSIGNS. 
This Agreement contains the entire agreement of the parties and there
are no other promises or conditions in any other agreement whether oral or written.  This Agreement supersedes any prior written
or oral agreement between the parties and terminates and cancels the Original
Agreement.

9.                                       AMENDMENTS.  This Agreement may be modified or amended, if
the amendment is made in writing and is signed by both parties.

10.                                 SEVERABILITY.  If any provision of this Agreement shall be
held to be invalid or unenforceable for any reason, the remaining provisions
shall continue to be valid and enforceable. 
If a court finds that any provision of this Agreement is invalid or
unenforceable, but that by limiting such provision it would become valid and
enforceable, then such provision shall be deemed to be written, construed and
enforced as so limited.

11.                                 WAIVER
OF CONTRACTUAL RIGHT.  The failure of
either party to enforce any provision of this Agreement shall not be construed
as a waiver or limitation of that party’s right to subsequently enforce and
compel strict compliance with every provision of this Agreement.

 5
 

12.                                 APPLICABLE
LAW.  This Agreement shall be
governed by the laws of the State of Iowa.

13.                                 REPRESENTATION.  The undersigned persons executing this
Agreement for and on behalf of Employer as its sole Managing Member and as its
General Manager represent that they are fully authorized to sign this Agreement
for and on behalf of Employer, and Employee may rely upon this representation.

 6
 

IN WITNESS WHEREOF, the parties hereto have executed
this Agreement effective the day and year first above written.

	
  

  	
  EMPLOYER:

  
	
   

  	
   

  
	
   

  	
  Peninsula Gaming, LLC

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
  Name:

  
	
   

  	
  Title:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  EMPLOYEE:

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Natalie Schramm

  

 

 7Exhibit
10.1

[Certain portions of this Agreement have been omitted and filed
separately with the Securities and Exchange Commission pursuant to a request
for confidential treatment under Rule 24b-2 as promulgated under the
Securities Exchange Act of 1934]

EXECUTION VERSION

 

 

CH2M HILL
COMPANIES, LTD.

CH2M HILL, INC.

OPERATIONS
MANAGEMENT INTERNATIONAL, INC.

CH2M HILL
INDUSTRIAL DESIGN & CONSTRUCTION, INC.

CH2M HILL GLOBAL,
INC.

CH2M HILL CONSTRUCTORS,
INC.

AMENDED AND
RESTATED SENIOR UNSECURED

REVOLVING CREDIT
AGREEMENT

dated as of September 6,
2007

WELLS FARGO BANK,
NATIONAL ASSOCIATION, in its separate capacities as Agent for itself and the
other Lenders and Sole Arranger and Bookrunner

 

 

Table
of Contents

	
  

  	
   

  	
   

  	
  Page

  
	
  1.

  	
  Definitions; Certain Rules of Construction

  	
  2

  
	
   

  	
   

  	
   

  	
  24

  
	
  2.

  	
  The Credits

  	
  25

  
	
  2.1

  	
   

  	
  Revolving Credit

  	
  25

  
	
  2.2

  	
   

  	
  Swing Line

  	
  30

  
	
  2.3

  	
   

  	
  Currency Equivalents for Multicurrency LIBOR Loans

  	
  31

  
	
  2.4

  	
   

  	
  Letters of Credit

  	
  36

  
	
  2.5

  	
   

  	
  Application of Proceeds

  	
  36

  
	
  2.6

  	
   

  	
  Reserved

  	
  36

  
	
  2.7

  	
   

  	
  Increase in Commitments

  	
  38

  
	
  2.8

  	
   

  	
  Reduction in Commitments

  	
  38

  
	
   

  	
   

  	
   

  	
   

  
	
  3.

  	
  Interest; LIBOR Pricing Options; Fees; Changes in
  Circumstance; Yield Protection

  	
  38

  
	
  3.1

  	
   

  	
  Interest

  	
  38

  
	
  3.2

  	
   

  	
  LIBOR Pricing Options

  	
  39

  
	
  3.3

  	
   

  	
  Fees

  	
  41

  
	
  3.4

  	
   

  	
  Computations of Interest and Fees

  	
  42

  
	
  3.5

  	
   

  	
  Changes in Circumstances; Yield Protection

  	
  42

  
	
   

  	
   

  	
   

  	
   

  
	
  4.

  	
  Payment

  	
  45

  
	
  4.1

  	
   

  	
  Payment at Maturity

  	
  45

  
	
  4.2

  	
   

  	
  Voluntary Reductions and Prepayments

  	
  45

  
	
  4.3

  	
   

  	
  Mandatory Prepayments

  	
  46

  
	
  4.4

  	
   

  	
  Letters of Credit

  	
  47

  
	
  4.5

  	
   

  	
  Reborrowing; Application of Payments, Etc

  	
  47

  
	
  4.6

  	
   

  	
  Sharing of Payments, Etc.

  	
  48

  
	
  4.7

  	
   

  	
  Records

  	
  49

  
	
   

  	
   

  	
   

  	
   

  
	
  5.

  	
  Appointment of the Parent; Authorized
  Representatives

  	
  49

  
	
   

  	
   

  	
   

  	
   

  
	
  6.

  	
  Subsidiary Guarantors

  	
  49

  
	
   

  	
   

  	
   

  	
   

  
	
  7.

  	
  Relationship Among Borrowers

  	
  50

  
	
  7.1

  	
   

  	
  JOINT AND SEVERAL LIABILITY

  	
  50

  
	
  7.2

  	
   

  	
  Waivers of Defenses

  	
  50

  
	
  7.3

  	
   

  	
  Other Transactions

  	
  51

  
	
  7.4

  	
   

  	
  Actions Not Required

  	
  51

  
	
  7.5

  	
   

  	
  No Subrogation

  	
  52

  
	
  7.6

  	
   

  	
  Application of Payments

  	
  52

  
	
  7.7

  	
   

  	
  Recovery of Payment

  	
  52

  
	
  7.8

  	
   

  	
  Borrowers’ Financial Condition

  	
  52

  
	
  7.9

  	
   

  	
  Bankruptcy of the Borrowers

  	
  52

  
	
  7.10

  	
   

  	
  Limitation; Insolvency Laws

  	
  53

  
	
  7.11

  	
   

  	
  Contribution

  	
  53

  

 

 i
 

 

	
  8.

  	
  Conditions to Extending Credit

  	
  54

  
	
  8.1

  	
   

  	
  Conditions on Initial Closing Date

  	
  54

  
	
  8.2

  	
   

  	
  Conditions to Each Extension of Credit

  	
  55

  
	
  8.3

  	
   

  	
  VECO Acquisition Conditions

  	
  55

  
	
   

  	
   

  	
   

  	
   

  
	
  9.

  	
  Covenants

  	
  57

  
	
  9.1

  	
   

  	
  Conduct of Business, Etc.

  	
  57

  
	
  9.2

  	
   

  	
  Insurance

  	
  57

  
	
  9.3

  	
   

  	
  Financial Statements and Other Reporting

  	
  58

  
	
  9.4

  	
   

  	
  Consolidated Net Worth

  	
  60

  
	
  9.5

  	
   

  	
  Fixed Charge Coverage Ratio

  	
  61

  
	
  9.6

  	
   

  	
  Leverage Ratio

  	
  61

  
	
  9.7

  	
   

  	
  Indebtedness

  	
  61

  
	
  9.8

  	
   

  	
  Liens

  	
  63

  
	
  9.9

  	
   

  	
  Transactions with Affiliates

  	
  64

  
	
  9.10

  	
   

  	
  Environmental Laws

  	
  64

  
	
  9.11

  	
   

  	
  Payment of Taxes, Etc

  	
  65

  
	
  9.12

  	
   

  	
  Preservation of Existence, Etc.

  	
  65

  
	
  9.13

  	
   

  	
  Compliance with Terms of Leaseholds

  	
  65

  
	
  9.14

  	
   

  	
  [Reserved]

  	
  65

  
	
  9.15

  	
   

  	
  Mergers, Etc.

  	
  65

  
	
  9.16

  	
   

  	
  Sales, Etc. of Assets

  	
  65

  
	
  9.17

  	
   

  	
  Investments

  	
  66

  
	
  9.18

  	
   

  	
  Distributions, Etc.

  	
  67

  
	
  9.19

  	
   

  	
  Limits on Capital Expenditures

  	
  67

  
	
  9.20

  	
   

  	
  Charter and Bylaws Amendments; Resolutions

  	
  67

  
	
  9.21

  	
   

  	
  Prepayments, Etc. of Indebtedness

  	
  67

  
	
  9.22

  	
   

  	
  Preservation of Rights and Properties

  	
  68

  
	
  9.23

  	
   

  	
  Payment of Obligations

  	
  68

  
	
  9.24

  	
   

  	
  Maintenance of Properties

  	
  68

  
	
  9.25

  	
   

  	
  ERISA

  	
  68

  
	
  9.26

  	
   

  	
  Ownership of the Borrowers

  	
  69

  
	
  9.27

  	
   

  	
  Pari Passu

  	
  69

  
	
  9.28

  	
   

  	
  Lease Transactions

  	
  69

  
	
  9.29

  	
   

  	
  Hedging Agreements

  	
  69

  
	
   

  	
   

  	
   

  	
   

  
	
  10.

  	
  Representations and Warranties

  	
  69

  
	
  10.1

  	
   

  	
  Organization and Business

  	
  69

  
	
  10.2

  	
   

  	
  Financial Statements and Other Information

  	
  70

  
	
  10.3

  	
   

  	
  No Material Adverse Effect

  	
  70

  
	
  10.4

  	
   

  	
  Operations in Conformity with Law, Etc.

  	
  70

  
	
  10.5

  	
   

  	
  Litigation

  	
  70

  
	
  10.6

  	
   

  	
  Authorization and Enforceability

  	
  71

  
	
  10.7

  	
   

  	
  No Legal Obstacle to Agreements

  	
  71

  
	
  10.8

  	
   

  	
  Tax Returns

  	
  72

  
	
  10.9

  	
   

  	
  Environmental Regulations

  	
  72

  
	
  10.10

  	
   

  	
  Plans

  	
  73

  

 

 ii
 

 

	
  10.11

  	
   

  	
  Consents or Approvals

  	
  73

  
	
  10.12

  	
   

  	
  No Liens

  	
  73

  
	
  10.13

  	
   

  	
  Business Authorizations

  	
  73

  
	
  10.14

  	
   

  	
  Disclosure

  	
  73

  
	
  10.15

  	
   

  	
  Solvency

  	
  73

  
	
  10.16

  	
   

  	
  Investment Company Act

  	
  73

  
	
  10.17

  	
   

  	
  Public Utility Holding Company Act

  	
  73

  
	
   

  	
   

  	
   

  	
   

  
	
  11.

  	
  Defaults

  	
  74

  
	
  11.1

  	
   

  	
  Events of Default

  	
  74

  
	
  11.2

  	
   

  	
  Certain Actions Following an Event of Default

  	
  77

  
	
  11.3

  	
   

  	
  Event of Default; No Waiver

  	
  78

  
	
  11.4

  	
   

  	
  Waivers

  	
  78

  
	
   

  	
   

  	
   

  	
   

  
	
  12.

  	
  Expenses; Indemnity

  	
  79

  
	
  12.1

  	
   

  	
  Expenses

  	
  79

  
	
  12.2

  	
   

  	
  General Indemnity

  	
  79

  
	
   

  	
   

  	
   

  	
   

  
	
  13.

  	
  The Agent

  	
  80

  
	
  13.1

  	
   

  	
  Authorization and Action

  	
  80

  
	
  13.2

  	
   

  	
  Agent’s Reliance, Etc.

  	
  80

  
	
  13.3

  	
   

  	
  Delegation of Duties

  	
  81

  
	
  13.4

  	
   

  	
  Lender Credit Decision; Agent in its Individual
  Capacity

  	
  81

  
	
  13.5

  	
   

  	
  Indemnification

  	
  82

  
	
  13.6

  	
   

  	
  Successor Agents

  	
  82

  
	
  13.7

  	
   

  	
  Agent May File Proofs of Claim

  	
  83

  
	
   

  	
   

  	
   

  	
   

  
	
  14.

  	
  Successors and Assigns; Lender Assignments and
  Participations

  	
  84

  
	
  14.1

  	
   

  	
  Assignments by Lenders

  	
  84

  
	
  14.2

  	
   

  	
  Credit Participants

  	
  86

  
	
   

  	
   

  	
   

  	
   

  
	
  15.

  	
  Confidentiality

  	
  87

  
	
   

  	
   

  	
   

  	
   

  
	
  16.

  	
  Notices

  	
  88

  
	
  16.1

  	
   

  	
  General

  	
  88

  
	
  16.2

  	
   

  	
  Electronic Posting

  	
  88

  
	
   

  	
   

  	
   

  	
   

  
	
  17.

  	
  Course of Dealing; Amendments and Waivers

  	
  89

  
	
   

  	
   

  	
   

  	
   

  
	
  18.

  	
  Defeasance

  	
  90

  
	
   

  	
   

  	
   

  	
   

  
	
  19.

  	
  Venue; Service of Process

  	
  90

  
	
   

  	
   

  	
   

  	
   

  
	
  20.

  	
  WAIVER OF JURY TRIAL

  	
  91

  
	
   

  	
   

  	
   

  	
   

  
	
  21.

  	
  Judgment Currency

  	
  91

  
	
  21.1

  	
   

  	
  Conversion Requirements

  	
  91

  
	
  21.2

  	
   

  	
  Change in Rate of Exchange

  	
  91

  

 

 iii
 

 

	
  22.

  	
   

  	
  Setoff

  	
  92

  
	
   

  	
   

  	
   

  	
   

  
	
  23.

  	
   

  	
  No Third Party Beneficiaries

  	
  92

  
	
   

  	
   

  	
   

  	
   

  
	
  24.

  	
   

  	
  Further Assurances

  	
  92

  
	
   

  	
   

  	
   

  	
   

  
	
  25.

  	
   

  	
  General

  	
  92

  

 

	
  Schedule 1

  	
  List of Lenders

  
	
   

  	
   

  
	
  Exhibit 2

  	
  Outstanding Principal Amounts

  
	
   

  	
   

  
	
  Exhibit 2.1.4

  	
  Form of Revolving Credit Note

  
	
   

  	
   

  
	
  Exhibit 2.2.2

  	
  Form of Swing Line Note

  
	
   

  	
   

  
	
  Exhibit 5

  	
  Notice of Authorized Representatives

  
	
   

  	
   

  
	
  Exhibit 6

  	
  Form of Subsidiary Guarantee

  
	
   

  	
   

  
	
  Exhibit 8.2.1

  	
  Form of Notice of Revolving Credit Advance

  
	
   

  	
   

  
	
  Exhibit 8.3.4

  	
  VECO Material Adverse Effect

  
	
   

  	
   

  
	
  Exhibit 9.3.2

  	
  Form of Compliance Certificate

  
	
   

  	
   

  
	
  Exhibit 9.3.6A

  	
  $53,000,000 Lease Documents

  
	
   

  	
   

  
	
  Exhibit 9.3.6B

  	
  $23,000,000 Lease Documents

  
	
   

  	
   

  
	
  Exhibit 9.3.6C

  	
  2005 Lease Documents

  
	
   

  	
   

  
	
  Exhibit 9.7

  	
  Existing Indebtedness

  
	
   

  	
   

  
	
  Exhibit 9.17

  	
  Existing Investments

  
	
   

  	
   

  
	
  Exhibit 10.1

  	
  Material Subsidiaries

  
	
   

  	
   

  
	
  Exhibit 10.9

  	
  Environmental Regulations

  
	
   

  	
   

  
	
  Exhibit 10.10

  	
  Plans

  
	
   

  	
   

  
	
  Exhibit 14.1.1

  	
  Form of Assignment and Acceptance

  

 

 iv

AMENDED AND RESTATED SENIOR UNSECURED

REVOLVING CREDIT AGREEMENT

This Agreement, dated as of September 6, 2007, is
entered into by and among CH2M HILL COMPANIES, LTD., an Oregon corporation,
CH2M HILL, INC., a Florida corporation, OPERATIONS MANAGEMENT INTERNATIONAL,
INC., a California corporation, CH2M HILL INDUSTRIAL DESIGN & CONSTRUCTION,
INC., an Oregon corporation, CH2M HILL GLOBAL, INC., a Delaware corporation and
CH2M HILL CONSTRUCTORS, INC., a Delaware corporation (each a “Borrower,”
and collectively, the “Borrowers”), the Lenders from time to time party
hereto, each in its capacity as a Lender and in its capacity as an Issuing
Bank, and WELLS FARGO BANK, NATIONAL ASSOCIATION, in its capacity as a Lender,
in its capacity as an Issuing Bank, in its capacity as agent for itself and the
other Lenders and in its capacity as the sole arranger and bookrunner, and
amends, restates and supersedes in its entirety the Original Credit Agreement.

RECITALS

A.                                   The
Borrowers, as borrowers, have entered into the Original Credit Agreement with
the lenders party thereto (collectively, the “Existing Lenders”), and
Wells Fargo in its separate capacities as the Swing Line Lender and an Issuing
Bank and as the Agent on behalf and for the benefit of the other Lenders (each as
defined in the Original Credit Agreement) pursuant to which the Existing
Lenders have extended and made available to the Borrowers a revolving credit
facility in the aggregate principal amount of up to $250,000,000 outstanding at
any one time, including a $20,000,000 sub-limit for swing line advances and a
$200,000,000 sub-limit for letters of credit (the “Original Credit Facility”).

B.                                     The
Borrowers desire to increase and restructure the Original Credit Facility in
order, among other things, to finance a portion of the purchase price in the [**]
and the VECO Acquisition, to obtain other extensions of credit from the Lenders
under this Agreement, and to amend the Original Credit Agreement in certain
other respects, and, as so amended, to restate the original Credit Agreement in
its entirety along with the other Credit Documents (as such term is defined in
the Original Credit Agreement, and referred to herein for purposes of this
Agreement as the “Original Credit Documents”) executed or delivered
pursuant to or otherwise existing in support of the Original Credit Agreement
and the Original Credit Facility outstanding thereunder.

**Confidential Treatment
Requested.

C.                                     The
Lenders have agreed to so increase and restructure the Original Credit Facility
and make such Loans and other credit available to the Borrowers, and to amend
and restate the Original Credit Agreement and the other Original Credit
Documents, but only on the terms and provisions herein, and subject to the
conditions and in reliance on, the representations and warranties set forth
below.

D.                                    It
is the intent of the Borrowers, the Lenders and Wells Fargo, not in its
individual capacity as a Lender but in its separate capacities as an Issuing
Bank, as Agent for itself and the other Lenders and in its capacity as the sole
arranger and bookrunner that, except as hereinafter expressly provided, the
Original Credit Facility and other extensions of credit outstanding under the
Original Credit Agreement shall not be deemed to be repaid or terminated upon
the 

 1
 

effectiveness of this
Agreement, but shall continue to remain outstanding and shall be due and
payable at the time and in the manner provided by this Agreement, including Section 2.

AGREEMENT

NOW, THEREFORE, in consideration of the foregoing
Recitals and the mutual covenants set forth below, and intending to be legally
bound, the parties hereto agree as follows:

1.                                       Definitions;
Certain Rules of Construction. 
Certain capitalized terms are used in this Agreement and in the other
Credit Documents with the specific meanings defined below in this Section 1.  Except as otherwise explicitly specified to
the contrary or unless the context clearly requires otherwise, (a) references
to Articles, Sections, subsections, Exhibits, Schedules and the like, are to
Articles, Sections and subsections of, or Exhibits or Schedules attached to,
this Agreement, (b) reference to any agreement (including the Credit
Documents), document or instrument means such agreement, document or instrument
as amended or modified and in effect from time to time in accordance with the
terms thereof (and, if applicable, in accordance with the terms hereof and the
other Credit Documents) and reference to any promissory note includes any
promissory note which is an extension or renewal thereof or a substitute or
replacement therefor, (c) the words “hereof”, “herein” and “hereunder” and
words of similar import when used in this Agreement shall refer to this
Agreement as a whole and not to any particular provision of this Agreement, (d)
references to a particular Section include all subsections thereof, (e) the
words “include”, “includes” and “including” shall be construed as “including
without limitation”, (f) accounting terms not otherwise defined herein have the
meaning provided under GAAP, (g) reference to any law, rule, regulation, order,
decree, requirement, policy, guideline, directive or interpretation means as
amended, modified, codified, replaced or re-enacted, in whole or in part, and
in effect on the determination date, including rules and regulations
promulgated thereunder, (h) references to a particular Person include such
Person’s successors and assigns to the extent not prohibited by this Agreement
and the other Credit Documents, (i) “or” has the inclusive meaning represented
by the phrase “and/or”, (j) references to “the date hereof” mean the date first
set forth above, and (k) defined terms include in the singular number the
plural and in the plural number the singular.

“Acquisition” means the acquisition of a Person
(by merger, consolidation or stock purchase), or the acquisition of all or
substantially all of the assets of a Person, or the acquisition of any division
or similar operating unit of a Person, or the acquisition of the business of a
Person or of the assets comprising such division, unit or business.

“Adjusted EBITDA” means, for any period (each
such period, an “EBITDA Determination Period”), the sum of (a)
Consolidated Net Income for such EBITDA Determination Period (excluding the
effect of any extraordinary or non-recurring items), plus (b) an amount
which, in the determination of Consolidated Net Income for such EBITDA
Determination Period, has been deducted for (i) Interest Expense for such
EBITDA Determination Period (including interest expense in respect of the VECO
Holdback to the extent not capitalized), and (ii) total federal, state, foreign
and other income taxes for such EBITDA Determination Period, and (iii) all
depreciation and amortization for such EBITDA Determination Period, and (iv) total
expenses associated with the non-cash portion of all employee bonus plans for
such EBITDA Determination Period, all as determined in accordance with
GAAP.  In addition, if (i) the Parent or
any Subsidiary makes a Permitted Acquisition of a 

 2
 

Target, or consummates
the [**] or the VECO Acquisition, in each case during any fiscal quarter and
(ii) the applicable Target’s financial statements for period(s) including the
four (4) fiscal quarters ending at the quarter during which such Permitted
Acquisition, [**] or VECO Acquisition, as the case may be, occurs are
reasonably satisfactory to the Agent, then the reported financial results of
the Target during each EBITDA Determination Period in which such quarter occurs
will be included in determining Adjusted EBITDA for each such EBITDA
Determination Period.  Further, if the
Parent or any Subsidiary, in compliance with Section 9.16, sells,
transfers or otherwise disposes of the capital stock of any Material Subsidiary
or all or substantially all of the assets of a Material Subsidiary during any
EBITDA Determination Period, then the reported financial results of such
Material Subsidiary for such EBITDA Determination Period shall not be included
in determining Adjusted EBITDA for such EBITDA Determination Period.

**Confidential Treatment
Requested.

“Adjusted EBITDAR” means, for any period (each
such period, an “EBITDAR Determination Period”), the sum of (a)
Consolidated Net Income for such EBITDAR Determination Period (excluding the
effect of any extraordinary or non-recurring items)), plus (b) an amount
which, in the determination of Consolidated Net Income for such EBITDAR
Determination Period, has been deducted for (i) Interest Expense for such
EBITDAR Determination Period (including interest expense in respect of the VECO
Holdback to the extent not capitalized), and (ii) total federal, state, foreign
and other income taxes for such EBITDAR Determination Period, and (iii) all
depreciation and amortization for such EBITDAR Determination Period, (iv) total
expenses associated with the non-cash portion of all employee bonus plans for
such EBITDAR Determination Period, and (v) Lease Expense for such EBITDAR
Determination Period, all as determined in accordance with GAAP.  In addition, if (i) the Parent or any
Subsidiary makes a Permitted Acquisition of a Target, or consummates the [**]
or the VECO Acquisition, in each case during any fiscal quarter and (ii) the
applicable Target’s financial statements for period(s) including the four (4)
fiscal quarters ending at the quarter during which such Permitted Acquisition, [**]
or VECO Acquisition, as the case may be, occurs are reasonably satisfactory to
the Agent, then the reported financial results of the Target during each
EBITDAR Determination Period in which such quarter occurs will be included in
determining Adjusted EBITDAR for each such EBITDAR Determination Period.  Further, if the Parent or any Subsidiary, in
compliance with Section 9.16, sells, transfers or otherwise disposes of
the stock of any Material Subsidiary or all or substantially all of the assets
of a Material Subsidiary during any EBITDAR Determination Period, then the
reported financial results of such Material Subsidiary for such EBITDAR Determination
Period shall not be included in determining Adjusted EBITDAR for such EBITDAR
Determination Period.

**Confidential Treatment
Requested.

“Affiliate”
means, with respect to any Person, any other Person directly or indirectly
controlling (including but not limited to all directors, officers and general
partners of such Person), controlled by or under direct or indirect common
control with such Person.  A Person shall
be deemed to control a corporation if such Person possesses, directly or indirectly,
the power (i) to vote 10% or more of the securities having ordinary voting
power for the election of directors of such corporation, or (ii) to direct
or cause direction of the management and policies of such corporation, whether
through the ownership of voting securities, by contract or otherwise.

 3
 

“Agent”
means Wells Fargo in its capacity as agent for the Lenders hereunder, as well
as its successors in such capacity pursuant to Section 13.6.

“Aggregate Outstanding Principal Amount” is
defined in Section 2.

“Agreement”
means this Amended and Restated Senior Unsecured Revolving Credit Agreement, as
from time to time amended, modified and in effect.

“Applicable Base Rate Margin” means, (i) from
the Initial Closing Date until the first day of the month commencing after the
month in which the Agent receives the Parent’s financial statements for the
Parent’s fiscal quarter ended September 30, 2007, the margin set forth on the
first line of the column entitled “Applicable Base Rate Margin” in the
following table, and (ii) thereafter, on any date, effective on the first
day of the month commencing after the month in which the Agent receives the
documentation required to be delivered pursuant to Section 9.3.2 or
9.3.3, as applicable), for the Parent’s most recently completed fiscal
quarter, the margin as set forth in the column entitled “Applicable Base Rate
Margin” determined by the Leverage Ratio for the most recently completed fiscal
quarter in accordance with the following table:

	
  Leverage Ratio

  	
   

  	
  Applicable

  Base Rate Margin

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  > 2.00 <3.00

  	
   

  	
  0.00

  	
  %

  
	
  > 1.50 <2.00

  	
   

  	
  0.00

  	
  %

  
	
  > 1.00 <1.50

  	
   

  	
  0.00

  	
  %

  
	
  <1.00

  	
   

  	
  (0.25

  	
  )%

  

 

“Applicable Insolvency Laws” is defined in Section
7.10.

“Applicable Law” means, as to any Person, any
law (statutory or common), treaty, rule, regulation, ordinance, code, guideline
or determination of an arbitrator or of a Governmental Authority, in each case
applicable to or binding upon the Person or any of its property or assets or to
which the Person or any of its property or assets is subject.

“Applicable LIBOR
Margin”  means, (i) from the Initial
Closing Date until the first day of the month commencing after the month in
which the Agent receives the Parent’s financial statements for the Parent’s
fiscal quarter ended September 30, 2007, the margin set forth on the first line
of the column entitled “Applicable LIBOR Margin” in the following table, and
(ii) thereafter, on any date, effective on the first day of the month
commencing after the month in which the Agent receives the documentation
required to be delivered pursuant to Section 9.3.2 or 9.3.3,
as applicable) for the Parent’s most recently completed fiscal quarter, the
margin as set forth in the column entitled “Applicable LIBOR Margin” determined
by the Leverage Ratio for the most recently completed fiscal quarter in
accordance with the following table:

 4
 

 

	
  Leverage Ratio

  	
   

  	
  Applicable

  LIBOR Margin

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  > 2.00 <3.00

  	
   

  	
  1.50

  	
  %

  
	
  > 1.50 <2.00

  	
   

  	
  1.25

  	
  %

  
	
  > 1.00 <1.50

  	
   

  	
  1.00

  	
  %

  
	
  <1.00

  	
   

  	
  0.75

  	
  %

  

 

“Applicable Rate”
means, at any date, the sum of:

(a)                                  (i)                                     with
respect to each LIBOR Loan, the sum of the Applicable LIBOR Margin plus the
LIBOR Rate;

(ii)                                  with respect to each
Base Rate Loan, the sum of the Applicable Base Rate Margin plus the Base Rate;
and

(iii)                               with respect to each
Swing Line Loan, the Base Rate,

plus

(b)                                 an additional two
percent (2.0%) effective upon the day the Agent (in its discretion or at the
direction of Required Lenders) notifies the Borrowers that the interest rates
hereunder are increasing as a result of the occurrence and continuance of an
Event of Default under Section 11.1, in each case until the earlier
of such time as (i) such Event of Default is no longer continuing, or
(ii) such Event of Default is deemed no longer to exist.

“Asset Disposition”
means any sale, securitization of, transfer or other disposition of assets or
property by a Borrower or a Guarantor (including any capital stock of any
Subsidiary of a Borrower), or the granting of any option or other right to
purchase or otherwise acquire any such assets, excluding sales of inventory and
contracts in the ordinary course of business.

“Assignee”
is defined in Section 14.1.1.

“Assignment and
Acceptance” is defined in Section 14.1.1.

“Auditors”
is defined in Section 9.3.2(a).

“Authorized
Representative” means each person designated by the
Parent in the most recent Notice of Authorized Representatives delivered by the
Parent to the Agent as being authorized to request any borrowing or make any
interest rate selection on behalf of the Borrowers, or to give the Agent any
other notice hereunder which is required by the terms of this Agreement to be
made through an Authorized Representative.

“Available Credit”
means, at any time, the amount by which (a) the Total Commitment is
greater than (b) the sum of (i) the aggregate outstanding principal
amount of the Loans at such time and (ii) the Letter of Credit Exposure at
such time.

 5
 

“Bank Undertaking” means any independent
undertaking of the Issuing Bank within the meaning of, and complying with the
requirements of, 12 C.F.R. §7.1016 as to which the issuer’s obligation to honor
depends upon the presentation of specified documents and not upon
nondocumentary conditions or resolution of any questions of fact or law, issued
hereunder pursuant to Section 2.4.1.  Bank Undertakings may be issued in United
States Dollars or a currency other than United States Dollars as permitted by
this Agreement.

“Banking Day”
means (a) for all purposes other than as covered by clause (b), any
day other than Saturday, Sunday or a day on which commercial banks in Denver,
Colorado or New York, New York are authorized or required by law or other
governmental action to close and (b) if such term is used with reference
to a LIBOR Loan, such day is also a day on which dealings are carried on in the
London interbank market in the applicable currency.

“Bankruptcy Code”
means Title 11 of the United States Code.

“Bankruptcy
Default” means an Event of Default referred to in Section 11.1.10.

“Base Rate”
means, on any date, the greater of (a)  the rate of interest most recently
announced within Wells Fargo at its principal office as its Prime Rate, with
the understanding that the Prime Rate is one of Wells Fargo’s base rates and
serves as the basis upon which effective rates of interest are calculated for
those loans making reference thereto, and is evidenced by the recording thereof
in such internal publication or publications as Wells Fargo may designate, with
any change in the rate of interest to become effective on the date each Prime
Rate change is announced within Wells Fargo, and (b) the sum of 0.5% plus
the Federal Funds Rate.

“Base Rate Loan”
means any portion of the outstanding Revolving Credit Loans or Swing Line Loans
by a Lender that bears interest with reference to the Base Rate.

“Bylaws”
means all written bylaws, rules, regulations and all other documents relating
to the management, governance or internal regulation of any Person other than
an individual, or interpretive of the Charter of such Person, all as from time
to time in effect.

“Capital
Expenditures” means, for any Person, for any period,
the sum of (a) all expenditures made, directly or indirectly, by such
Person or any of its Subsidiaries during such period for equipment, fixed
assets, real property or improvements, or for replacements or substitutions
therefor or additions thereto, that have been or are expected to be reflected
as additions to property, plant or equipment on a Consolidated balance sheet of
such Person, plus (b) without duplication of amounts included under clause
(a), the aggregate principal amount of all Indebtedness (including obligations
under Capitalized Leases) assumed or incurred during such period in connection
with such expenditures.

“Capitalized Leases”
means, in the case of any Person, all leases that have been, should be or are
expected to be recorded as capital leases on a balance sheet of such Person in
accordance with GAAP.

 

“Cash Equivalents”
means cash equivalents determined in accordance with GAAP.

 6
 

“CERCLA”
means the federal Comprehensive Environmental Response, Compensation and
Liability Act of 1980.

“CERCLIS”
means the federal Comprehensive Environmental Response Compensation Liability
Information System List (or any successor document) issued under CERCLA.

“Change of
Control” means any of the following events:  (a) any “person” or any syndicate or
group deemed a “person” within the meaning of Sections 13(d) and 14(d) of
the Securities Exchange Act of 1934, as amended (the “Exchange Act”)
other than the Trustees of the CH2M HILL Employee Stock Plan, has become,
directly or indirectly, the “beneficial owner” (as defined in Rules 13d-3
and 13d-5 under the Exchange Act, except that a person shall be deemed to have “beneficial
ownership” of all shares that any such person has the right to acquire, whether
such right is exercisable immediately or only after the passage of time), of
30% or more of the voting power of the voting stock of the Parent on a
fully-diluted basis, after giving effect to the conversion and exercise of all
outstanding warrants, options and other securities of the Parent (whether or
not such securities are then currently convertible or exercisable), or
(b) during any period of two (2) consecutive calendar years, individuals
who at the beginning of such period constituted the board of directors of the
Parent cease for any reason (other than death, disability or expiration of
term) to constitute a majority of the directors of the Parent then in office
unless such new directors were elected by the directors of the Parent who
constituted the board of directors of the Parent at the beginning of such
period.

“Charges” is defined in Section 3.2.7.

“Charter”
means the articles of organization, certificate of incorporation, statute,
constitution, joint venture agreement, partnership agreement, trust indenture,
limited liability company agreement or other charter document of any Person
other than an individual, each as from time to time in effect.

“Closing Date”
means the Initial Closing Date and each other date on which any extension of
credit is made or any Letter of Credit is issued pursuant to Sections 2.1,
2.2 or 2.4.

“Code” means the Federal Internal Revenue Code
of 1986.

“Commitment”
means, with respect to any Lender, such Lender’s obligations to extend the
credits contemplated by Section 2, in the maximum amount as set
forth on Schedule 1 opposite such Lender’s name, as adjusted
pursuant to Sections 2.7, 2.8, 3.5.7, 4.2.1 or
14 and recorded in the Register.

“Communications” is defined in Section 16.2.

“Consolidated”
means, with respect to any Person’s accounts, the accounts of the Person and
all of its Subsidiaries, or such of its Subsidiaries as may be specified,
consolidated (or combined) in accordance with GAAP.

“Consolidated Net
Income” means, for any period, the net income (or
loss) after taxes for such period of the Parent and its Subsidiaries on a
Consolidated basis, determined in accordance with GAAP.

 7
 

“Consolidated Net
Worth” means, at any reporting date, stockholder’s
equity (minus the aggregate value of any treasury stock) of the Parent and its
Subsidiaries on a Consolidated basis, determined in accordance with GAAP.

“Contingent Obligation” means, with respect to
any Person at the time of any determination, without duplication, any
obligation, contingent or otherwise, of such Person guaranteeing or having the
economic effect of guaranteeing any Indebtedness of any other Person (the “primary
obligor”) in any manner, whether directly or otherwise:  (a) to purchase or pay (or advance or supply
funds for the purchase or payment of) such Indebtedness or to purchase (or to
advance or supply funds for the purchase of) any direct or indirect security
therefor, (b) to purchase property, securities, or services for the purpose of
assuring the owner of such Indebtedness of the payment of such Indebtedness,
(c) to maintain working capital, equity capital or other financial statement
condition of the primary obligor so as to enable the primary obligor to pay
such Indebtedness or otherwise to protect the owner thereof against loss in
respect thereof, or (d) entered into for the purpose of assuring in any manner
the owner of such Indebtedness of the payment of such Indebtedness or to
protect the owner against loss in respect thereof; provided, that the
term “Contingent Obligation” shall not include endorsements for
collection or deposit, in each case in the ordinary course of business.

“Converted
Principal Amount” is defined in Section 2.3.1.

“Credit
Documents” means:

(a)                                  this
Agreement, the Revolving Credit Notes (if any), the Swing Line Note (if any),
each Letter of Credit, each draft presented or accepted under a Letter of
Credit, the Subsidiary Guarantee and the Fee Letter, each as from time to time
in effect;

(b)                                 all
notices and certificates executed and delivered to the Agent or any of the
Lenders by any Obligor pursuant to or as contemplated by this Agreement; and

(c)                                  any
other present or future agreement or instrument from time to time entered into
among the Borrowers, any of their Subsidiaries or any other Obligor, on one
hand, and the Agent or all the Lenders, on the other hand, relating to,
amending or modifying this Agreement or any other Credit Document referred to
above or which is stated to be a Credit Document, each as from time to time in
effect.

“Credit Obligations”
is used herein in its most comprehensive sense and means any and all present
and future advances, debts, obligations, liabilities and Indebtedness of each
Borrower, each Subsidiary and each other Obligor owing to the Agent or any
Lender (or any Affiliate of a Lender and including any Issuing Bank) under or
in connection with this Agreement or any other Credit Document, including
obligations in respect of principal, interest, reimbursement obligations under
Letters of Credit, fees, Letter of Credit fees, amounts provided for in Sections
3.2.4, 3.4, 3.5 and 12 and other fees, charges,
indemnities and expenses of the Obligors from time to time owing hereunder or
under any other Credit Document (whether accruing before or after a Bankruptcy
Default).

 

“Credit Participant”
is defined in Section 14.2.

 8
 

“Current Portion of Long
Term Debt” means as of a given date, the amount of the Borrower’s long-term
Indebtedness (other than the amount of the Loans) which became due during the
designated period ending on the designated date.

“Default”
means any event or condition which with the passage of time or giving of
notice, or both, would, unless cured or waived, become an Event of Default.

“Denver Office”
means the principal banking office of Wells Fargo in Denver, Colorado.

“Distributions”
means, as to any Person, any dividend or distribution to its stockholders,
partners or members as such.

“Dollar LIBOR
Loan” means any portion of the outstanding Revolving
Credit Loans by a Lender that bears interest with reference to the LIBOR Base
Rate for United States Dollar deposits.

“Environmental
Laws” means all applicable foreign, federal, state or
local statutes, laws, ordinances, codes, rules, regulations and guidelines
(including consent decrees and administrative orders) relating to public health
and safety and protection of the environment, including OSHA.

“Equivalent Amount” means, with respect to any
currency at any date, the equivalent in United States Dollars of such currency,
calculated on the basis of the arithmetic mean of the buy and sell spot rates
of exchange of the Agent in the London interbank market (or other market where
the Agent’s foreign exchange operations in respect of such currency are then
being conducted) for such other currency at or about 11:00 a.m. (local time
applicable to the transaction in question) on the date on which such amount is
to be determined, rounded up to the nearest unit of such currency, with 0.5 of
a unit being rounded upward, as determined by the Agent from time to time; provided,
however, that if at the time of any such determination, for any reason,
no such spot rate is being quoted, the Agent may use any reasonable method it
deems appropriate to determine such amount, and such determination shall be
conclusive absent manifest error.

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

“ERISA Event”
means (a) a Reportable Event with respect to a Plan, (b) a withdrawal by an
ERISA Group Person from a 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 which is treated as such a withdrawal
under Section 4062(e) of ERISA; (c) a complete or partial withdrawal by an
ERISA Group Person from a Multiemployer Plan or notification that a
Multiemployer Plan is in reorganization; (d) the filing of a notice of intent
to terminate under Section 4041(c) of ERISA, the treatment of a Plan amendment
as a termination under Section 4041 or 4041A of ERISA, or the commencement of
proceedings by the PBGC to terminate a 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 Plan or Multiemployer Plan; (f) a contribution failure
occurs with respect to any Plan sufficient to give rise to a Lien under Section
302(f) (or, effective January 1, 2008, Section 303(k)) of ERISA or the
imposition of any liability under Title IV of 

 9
 

ERISA, other than PBGC
premiums due but not delinquent under Section 4007 of ERISA, upon an ERISA
Group Person or (g) an ERISA Group Person creates, or, with respect to a
Pension Plan other than a Multiemployer Plan, permits the creation of any
accumulated funding deficiency, that is not waived.

“ERISA Group
Person” means the Parent, any Subsidiary of the Parent
and any Person which is a member of the controlled group or under common
control with the Parent or any Subsidiary within the meaning of
Section 414 of the Code or Section 4001(a)(14) of ERISA.

“Event of Default”
is defined in Section 11.1.

“Excluded Equity” is defined in Section 4.3.2.

“Existing Lenders” is defined in Recital A.

“Federal Funds
Rate” means, for any day, the fluctuating interest
rate per annum (rounded upward to the nearest 1/8%) set forth in the weekly
statistical release designated as H.15(519), or any successor publication,
published by the Federal Reserve Bank of New York (including any such
successor, “H.15(519)”) on the preceding Banking Day opposite the
caption “Federal Funds (Effective)” or, if for any relevant day such rate is
not so published on any such preceding Banking Day, the rate for such day will
be the arithmetic mean as determined by the Agent of the rates for the last transaction
in overnight federal funds arranged prior to 9:00 a.m. (New York City time) on
that day by each of three (3) leading brokers of federal funds transactions in
New York City selected by the Agent.

“Fee Letter”
means the letter agreement dated July 11, 2007 among the Borrowers, Wells Fargo
and the Agent relating to fees, executed in connection with this Agreement.

“Final Maturity
Date” means August 31, 2012.

“Financial
Officer” means a person whom the Agent in good faith
believes to be the Parent’s chief executive officer, chief financial officer,
chief operating officer, chairman, president, treasurer or any of its vice
presidents whose primary responsibility is for its financial affairs.

“Fixed Charge Coverage Ratio” means, as
calculated as of any fiscal quarter end for the Parent and its Subsidiaries on
a Consolidated basis for the four (4) consecutive fiscal quarters then ended,
the ratio of Adjusted EBITDAR to the sum of (a) Interest Expense plus
(b) Lease Expense plus (c) Current Portion of Long Term Debt.

“Foreign Currency”
means such currencies other than United States Dollars as may be approved by
the Lenders in their sole discretion. 
Each Foreign Currency must be one (a) that is freely transferable and
convertible into United States Dollars, and (b) in which deposits are generally
available to all Lenders in the London Interbank Market.  The Lenders approve each of the following as
a Foreign Currency:  Canadian Dollars,
Euros, Sterling, Australian Dollars, Hong Kong Dollars and Singapore Dollars.

 

“Foreign Indebtedness”
is defined in Section 9.7.13.

 10
 

“Funding
Liability” means (a) any deposit which was used
(or deemed by Section 3.2.6 to have been used) to fund any portion
of the Loans subject to a LIBOR Pricing Option, and (b) any portion of the
Loans subject to a LIBOR Pricing Option funded (or deemed by Section 3.2.6
to have been funded) with the proceeds of any such deposit.

“GAAP”
means generally accepted accounting principles as from time to time in effect,
including the statements and interpretations of the United States Financial
Accounting Standards Board.

“Governmental
Authority” means any court or governmental agency,
authority, instrumentality or regulatory body of the United States, of the
states and territories thereof and their counties, municipalities and other
subdivisions, and of any foreign country or other jurisdiction.

“Guarantee”
means, with respect to a specified Person:

(a)                                  any
guarantee by the specified Person of the payment or performance of, or any
Contingent Obligation by the specified Person in respect of, any Indebtedness
or other financial obligation of any primary obligor;

(b)                                 any
other arrangement whereby credit is extended to a primary obligor on the basis
of any obligation of the specified Person to a creditor or prospective creditor
of such primary obligor, to (i) pay the Indebtedness of such primary
obligor, (ii) purchase an obligation owed by such primary obligor,
(iii) pay for the purchase or lease of assets or services regardless of
the actual delivery thereof or (iv) maintain the capital, working capital,
solvency or general financial condition of such primary obligor;

(c)                                  any
recourse indebtedness of the specified Person as a joint venturer whether
imposed as a matter of law or by contract; and

(d)                                 reimbursement
obligations, whether contingent or matured, of the specified Person with
respect to letters of credit, bankers acceptances, other financial guarantees
and interest rate protection agreements;

in each case whether or not any of the foregoing are
reflected on the balance sheet of the specified Person or in a footnote
thereto.

“Guarantors” means each domestic Material
Subsidiary except the Borrowers.

“Hazardous
Material” means any pollutant, toxic or hazardous
material or waste, including any “hazardous substance” or “pollutant” or “contaminant”
as defined in Section 101(14) of CERCLA or any other Environmental Law or
regulated as toxic or hazardous under RCRA or any other Environmental Law.

“Hedging Agreement” means an interest rate or
credit swap, cap, floor, collar, forward foreign exchange transaction, currency
swap, cross currency rate swap, currency option, or any combination of, or
option with respect to, these or similar transactions designed to provide
protection against fluctuations in interest rates or currency exchange rates.

 11
 

“Increase Effective
Date” is defined in Section 2.7.4.

 

“Indebtedness”
means any of the following items:

(a)                                  borrowed
money;

(b)                                 indebtedness
evidenced by notes, debentures or similar instruments;

(c)                                  Capitalized
Lease obligations;

(d)                                 the
deferred purchase price of assets or securities (other than ordinary trade
accounts payable within six (6) months after the incurrence thereof in the
ordinary course of business);

(e)                                  capital
stock (or other equity) subject to mandatory redemption or redemption at the
option of the holder thereof;

(f)                                    reimbursement
obligations, whether contingent or matured, with respect to letters of credit,
bankers acceptances and other financial guarantees (without duplication of
other Indebtedness supported or guaranteed thereby);

(g)                                 all
Contingent Obligations and all Guarantees in respect of Indebtedness of others;

(h)                                 the
VECO Holdback;

(i)                                     all
obligations of such Person in respect of Hedging Agreements (provided
that for purposes of calculating Total Funded Debt at any time, the
Indebtedness of any Person in respect of any Hedging Agreement at any time
shall be the amount, if any, that would, under the agreements and instruments
governing such Hedging Agreement, be payable by such Person at such time if
such Hedging Agreement were terminated at such time by the other party thereto,
in each case taking into account any netting or set-off arrangements applicable
thereto); and

(j)                                     the
principal balance outstanding under any lease, funding agreement or other
arrangement with respect to any real or personal property pursuant to which the
lessor is treated as the owner of such property for accounting purposes and the
lessee is treated as the owner of such property for federal income tax
purposes, or any tax retention operating lease, off-balance sheet loan or
similar off-balance sheet financing product to which such Person is a party,
where such transaction is considered borrowed money indebtedness for tax
purposes but is classified as an operating lease in accordance with GAAP.

“Indemnified
Party” is defined in Section 12.2.

“Initial Closing
Date” means September 6, 2007.

“Insufficiency”
means, with respect to any Plan, the amount, if any, of its unfunded benefit
liabilities, as defined in Section 4001(a)(18) of ERISA.

 12
 

“Interest Expense”
means, for any period, total interest expense (including the interest component
of any Capitalized Leases) of the Parent and its Subsidiaries, on a
Consolidated basis, determined in accordance with GAAP.

“Interest Payment
Date” means (a) as to Base Rate Loans, the last
day of each calendar quarter and the Final Maturity Date, and (b) as to
LIBOR Loans, the last day of each applicable Interest Period and the Final
Maturity Date and in addition where the applicable Interest Period for a LIBOR
Loan is greater than three (3) months, then also the date three (3) months from
the beginning of the Interest Period and each three (3) months thereafter.

“Interest Period”
means, as to LIBOR Loans, a period of two (2) weeks or one (1), two (2), three
(3) or six (6) months, as the Borrowers may elect, commencing, in each case, on
the date of the borrowing (including continuations and conversions thereof); provided,
however, (a) if any Interest Period would end on a day which is not
a Banking Day, such Interest Period will be extended to the next succeeding
Banking Day and such extension of time will be included in the computation of
interest and fees (except that where the next succeeding Banking Day falls in
the next succeeding calendar month, then on the next preceding Banking Day),
(b) no Interest Period will extend beyond the Final Maturity Date,
(c) except with respect to two (2) week Interest Periods, where an
Interest Period begins on a day for which there is no numerically corresponding
day in the calendar month in which the Interest Period is to end, such Interest
Period will end on the last Banking Day of such calendar month, and (d) in no
event may Interest Periods be selected with respect to LIBOR Loans which, in
the aggregate, would require payment of fees under Section 3.2.4 in
order to make required principal payments.

“Investment”
means, with respect to a specified Person:

(a)                                  any
share of capital stock, partnership or other equity interest, evidence of
Indebtedness or other security issued by any other Person;

(b)                                 any
loan, advance or extension of credit to, or contribution to the capital of, any
other Person;

(c)                                  any
Guarantee of the Indebtedness of any other Person; and

(d)                                 any
Acquisition.

The investments described in the foregoing clauses (a)
through (d) are included in the term “Investment” whether they are made
or acquired by purchase, exchange, issuance of stock or other securities,
merger, reorganization or any other method; provided, however,
that the term “Investment” does not include (i) current trade and
customer accounts receivable for property leased, goods furnished or services
rendered in the ordinary course of business and payable in accordance with
customary trade terms, (ii) deposits, advances or prepayments to suppliers
for property leased or licensed, goods furnished and services rendered in the
ordinary course of business, (iii) advances to employees for relocation
and travel expenses, drawing accounts and similar expenditures, (iv) stock
or other securities acquired in connection with the satisfaction or enforcement
of Indebtedness or claims due to the specified Person or as security for any
such Indebtedness or claim, or (v) demand deposits in banks or similar
financial institutions.

 13
 

“Issuing Bank” means any Lender, as applicable,
in each case in its capacity as the issuer of a Letter of Credit.

“Judgment
Currency” is defined in Section 21.1.

“Judgment
Currency Conversion Date” is defined in Section 21.1.

“Key Employee
Notes” means (a) notes issued to former employees
for the purchase price of stock redeemed by the Parent in accordance with the
stock repurchase requirements set forth in the Parent’s Bylaws in effect as of
the date of this Agreement, (b) notes issued in the purchase by the Parent
of shares of its common stock under the repurchase rights set forth in the
Parent’s Bylaws, (c) notes issued in the purchase by the Parent of shares
of its common stock on the internal market to balance the supply and demand for
common stock between sellers and buyers, and (d) notes issued to employees
or former employees upon the exercise of (or in satisfaction of) stock
appreciation rights or to pay or satisfy rights under a phantom stock plan.

“LC Available Credit” means the lesser of (a)
the U.S. Dollar Equivalent of $250,000,000 less the current Letter of Credit
Exposure, and (b) the Available Credit.

“Lease Expense” means, for any period, total
lease expense under all operating leases and Capitalized Leases of the Parent
and its Subsidiaries, on a Consolidated basis, determined in accordance with
GAAP.

“Legal
Requirement” means any present or future requirement
imposed upon any of the Lenders or any of the Borrowers or any of their
Subsidiaries by any law, statute, rule, regulation, directive, order, decree,
guideline (or any interpretation thereof by courts or of administrative bodies)
of the United States, or any jurisdiction in which any LIBOR Office is located
or any state or political subdivision of any of the foregoing, or by any board,
governmental or administrative agency (including any Governmental Authority),
central bank or monetary authority of the United States, any jurisdiction in
which any LIBOR Office is located or any Borrower or Subsidiary operates, or
any political subdivision of any of the foregoing.  Any such requirement imposed on any of the
Lenders not having the force of law will be deemed to be a Legal Requirement
for purposes  of  Section 3
if such Lender reasonably believes that compliance therewith is in the best
interest of such Lender.

“Lender” means
each of the Persons listed as lenders on the signature page hereto, including
Wells Fargo in its capacity as a Lender and the Swing Line Lender and each
Lender in its capacity as an Issuing Bank, and such other Persons who may from
time to time own a Percentage Interest in the Credit Obligations, but the term
“Lender” will not include any Credit Participant.

 

“Lending Officer”
means such individuals whom the Agent may designate by notice to the Parent
from time to time as an officer who may receive telephone requests for
borrowings under Section 2.1.3 or 2.2.1.

“Letter of Credit”
is defined in Section 2.4.1.

 14
 

“Letter of Credit Agreement” 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 an Issuing Bank.

“Letter of Credit
Exposure” means, at any date, the sum of (a) the aggregate undrawn amounts
under all Letters of Credit then outstanding, plus (b) the aggregate
amount of all drafts that the Issuing Banks have previously accepted under
Letters of Credit but that the Borrowers have not paid to such Issuing Banks.

 

“Leverage Ratio”
means, as calculated as of the last day of any fiscal quarter for the Parent
and its Subsidiaries on a Consolidated Basis, the ratio of Total Funded Debt to
Adjusted EBITDA for the four (4) consecutive fiscal quarters then ended.

 

“LIBOR Base Rate” means, with respect to any
LIBOR Loan for any Interest Period, the per annum rate appearing on Reuters
Screen LIBOR01-02 Page under the heading “British Bankers Association LIBOR
Rates” (or on any successor or substitute Reuters screen of such service, or
any successor to or substitute for such service, providing rate quotations
comparable to those currently provided on such Reuters screen in the event such
Reuters screen is no longer published or readily available as determined by the
Agent from time to time for purposes of providing quotations of interest rates
in the London interbank market) at approximately 11:00 a.m., London time, two
(2) Banking Days prior to the commencement of such Interest Period, as the rate
for United States Dollar deposits (or, for determination of the LIBOR Base Rate
for a Multicurrency LIBOR Loan, for deposits in the applicable Foreign
Currency) with a maturity comparable to such Interest Period.  In the event that such rate is not available
at such time for any reason, then the “LIBOR Base Rate” with respect to such
LIBOR Loan for such Interest Period shall be the rate (rounded upwards, if
necessary, to the next 1/100 of 1%) at which United States Dollar deposits (or,
for determination of the LIBOR Base Rate for a Multicurrency LIBOR Loan, for
deposits in the applicable Foreign Currency) in a comparable amount to such
LIBOR Loan and for a maturity comparable to such Interest Period are offered by
the principal London office of the Agent in same day or immediately available
funds in the London interbank market at approximately 11:00 a.m., London time,
two (2) Banking Days prior to the commencement of such Interest Period.  When “LIBOR Base Rate” is used in reference
to any Loan, such term refers to whether such Loan is bearing interest at a
rate determined by reference to the LIBOR Rate.

“LIBOR Loan”
means a Dollar LIBOR Loan or a Multicurrency LIBOR Loan.

“LIBOR Office”
means such non-United States office or international banking facility of any
Lender as the Lender may from time to time select.

“LIBOR Pricing
Options” means the options granted pursuant to Section 3.2.1
to have the interest on any portion of the Revolving Credit Loans computed on
the basis of a LIBOR Rate.

“LIBOR Rate”
for any Interest Period means the rate, rounded upward to the next highest
1/16%, obtained by dividing (a) the LIBOR Base Rate for such Interest
Period by (b) an amount equal to 1 minus the LIBOR Reserve Rate; provided,
however, that if at any time during such Interest Period the LIBOR
Reserve Rate applicable to any outstanding LIBOR Pricing Option changes, the
LIBOR Rate for such Interest Period will automatically be adjusted to reflect
such 

 15
 

change, effective as of
the date of such change to the extent required by the Legal Requirement
implementing such change.

“LIBOR Reserve
Rate” means the stated maximum rate (expressed as a
decimal) of all reserves (including any basic, supplemental, marginal or
emergency reserve or any reserve asset), if any, as from time to time in
effect, required by any Legal Requirement to be maintained by a member bank of
the Federal Reserve System, with deposits comparable in amount to those held by
the Agent, against (a) ”Eurocurrency liabilities” as specified in
Regulation D of the Board of Governors of the Federal Reserve System
applicable to LIBOR Pricing Options, (b) any other category of liabilities
that includes deposits by reference to which the interest rate on portions of
the Loans subject to LIBOR Pricing Options is determined, (c) the
principal amount of or interest on any portion of the Loans subject to a LIBOR
Pricing Option or (d) any other category of extensions of credit, or other
assets, that includes loans subject to a LIBOR Pricing Option by a non-United
States office of any of the Lenders to United States residents, in each case
without the benefits of credits for prorations, exceptions or offsets that may
be available to a Lender.  The rate of
interest applicable to any outstanding LIBOR Loans shall be adjusted
automatically on and as of the effective date of any change in the LIBOR
Reserve Rate.

“Lien”
means, with respect to any specified Person:

(a)                                  any
lien, encumbrance, mortgage, pledge, charge or security interest of any kind
upon, or securitization of, any property or assets of the specified Person,
whether now owned or hereafter acquired, or upon the income or profits
therefrom;

(b)                                 the
purchase of, or the agreement to purchase, any property or asset upon conditional
sale or subject to any other title retention agreement, device or arrangement
(including a Capitalized Lease); and

(c)                                  the
sale, assignment, pledge or transfer for security of any accounts, general
intangibles or chattel paper of the specified Person, with or without recourse.

“Loans”
means the Revolving Credit Loans and the Swing Line Loans.  “Loan” means a Revolving Credit Loan
or a Swing Line Loan.

“MLA Cost”
means an addition to the interest rate on a Multicurrency LIBOR Loan to
compensate a Lender for the cost imputed to a Lender in respect of any
Multicurrency LIBOR Loan made during the term of any Multicurrency LIBOR Loan
resulting from the imposition from time to time under or pursuant to the Bank
of England Act 1998 (the “Act”) and/or by the Bank of England and/or the
Financial Services Authority (the “FSA”) (or other United Kingdom
governmental authorities or agencies) of a requirement to place
non-interest-bearing deposits or special deposits (whether interest-bearing or
not) with the Bank of England to meet cash ratio requirements and/or pay fees
to the FSA calculated by reference to liabilities used to fund the
Multicurrency LIBOR Loan.

“Margin Stock”
means “margin stock” within the meaning of Regulation U of the Board of
Governors of the Federal Reserve System.

 16
 

“Material Adverse
Effect” means a material adverse effect on
(a) the business, assets, condition (financial or otherwise), operations
or prospects of the Parent and its Subsidiaries (on a Consolidated basis), or
(b) the ability of the Obligors collectively to perform their obligations
under the Credit Documents to which they are parties, or (c) the rights
and remedies of the Agent and the Lenders under the Credit Documents.

“Material
Subsidiary” means any direct or indirect wholly-owned
Subsidiary of the Parent whose gross revenues for the preceding twelve (12)
months, calculated as of June 30th and December 31st of
each year, are greater than $200,000,000.

“Maximum Amount
of Credit” is defined in Section 2.1.2.

“Maximum Rate” is defined in Section 3.2.7.

“Multicurrency
Available Credit”  means the lesser
of (i) $150,000,000 less (a) the U.S. Dollar Equivalent of the aggregate
outstanding balance of all Multicurrency LIBOR Loans and (b) the U.S. Dollar
Equivalent of the aggregate Letter of Credit Exposure related to Letters of
Credit issued in currencies other than United States Dollars, and (ii) the
Available Credit.

 

“Multicurrency
LIBOR Loan” means any portion of the outstanding
Revolving Credit Loans by a Lender made in a Foreign Currency that bears
interest with reference to the LIBOR Base Rate for deposits in that Foreign
Currency.

“Multiemployer
Plan” means a multiemployer plan, as defined in
Section 4001(a)(3) of ERISA, to which any ERISA Group Person is making or
accruing an obligation to make contributions, or has within any of the
preceding five (5) plan years made or accrued an obligation to make
contributions.

“Net Cash Proceeds” means, with respect to any
Asset Disposition or the issuance of equity securities by any Person, the
aggregate amount of cash received from time to time (whether as initial
consideration or through payment or disposition of deferred consideration, as
and when received in cash) by or on behalf of such Person in connection with
such transaction after deducting therefrom only (without duplication) (a)
reasonable and customary brokerage commissions, underwriting fees and
discounts, legal fees, finders’ fees and other similar fees and commissions,
(b) the amount of taxes payable in connection with or as a result of such
transaction, (c) the amount of any Indebtedness secured by a Lien on such asset
that, by the terms of such transaction, is required to be repaid upon such
disposition (and any prepayment penalties or make-whole payments made in
connection therewith) and (d) other transaction costs customary and reasonable
for such transactions, in each case to the extent, but only to the extent, that
the amounts so deducted are properly attributable to such transaction or to the
asset that is the subject thereof and are, in the case of clauses (a), (c) and
(d), at the time of receipt of such cash, actually paid to a Person that is not
an Obligor and, in the case of clause (b), on the earlier of the dates on which
the tax return covering such taxes is filed or required to be filed; provided,
that (x) in the case of taxes that are deductible under clause (b) but for the
fact that at the time of receipt of such cash, such taxes have not been
actually paid or are not then payable, such Person may deduct an amount (the “Reserved
Tax Amount”) equal to the amount reserved in accordance with GAAP as a
reasonable estimate for such taxes, other than taxes for which such Person is
indemnified, provided, that at the time such taxes are paid, an amount
equal to the amount, if 

 17
 

any, by which the
Reserved Tax Amount exceeds the amount actually so paid, shall constitute Net
Cash Proceeds and (y) in the case of any cash reserved or held back in
connection with an Asset Disposition for purposes of securing payment of
related indemnity obligations, such Person may deduct an amount (the “Indemnity
Holdback”) equal to the amount reserved or held back for such purpose
pursuant to the documents governing such Asset Disposition and to the extent
permitted or required pursuant to GAAP, other than amounts for which such
Person is indemnified, provided, that at the time such indemnity
obligations are paid or the Indemnity Holdback is otherwise released, an amount
equal to the amount, if any, by which the Indemnity Holdback exceeds the amount,
if any, actually paid with respect to such indemnity obligations, shall
constitute Net Cash Proceeds.

“Notes”
means the Revolving Credit Notes and the Swing Line Note.

“Notice” is defined in Section 16.2.

“Notice of
Authorized Representatives” is defined in Section 5.

“Notice of
Revolving Credit Advance” is defined in Section 2.1.3.

“Obligation
Currency” is defined in Section 21.1.

“Obligor”
means any Borrower, any Guarantor and any other Person guaranteeing or
providing collateral for the Credit Obligations.

“OFAC” is
defined in Section 9.1.2.

“Original Credit
Agreement” means the Senior Unsecured Revolving Credit Agreement dated as
of September 29, 2006 by and among the Borrowers, the Existing Lenders, and
Wells Fargo, as agent, as an Existing Lender, as an issuing bank, and in its
capacity as arranger.

 

“Original Credit Facility” is defined in
Recital A.

“Original Credit Documents” is defined in
Recital B.

“OSHA”
means the federal Occupational Health and Safety Act.

“Parent”
means CH2M Hill Companies, Ltd., an Oregon corporation.

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

“Pension Plan” means any employee pension
benefit plan as defined in Section 3(2) of ERISA (including a Multiemployer
Plan) and to which an ERISA Group Person may have any liability including by
reason of having been a substantial employer within the meaning of Section 4063
of ERISA at any time within the preceding five (5) years or by reason of being
deemed to be a contributing sponsor under Section 4069 of ERISA.

“Percentage Interest” means with respect to any
Lender, (a) at all times when no Event of Default under Section 11.1.1
and no Bankruptcy Default exists, the ratio of the respective Commitment of
such Lender divided by the total Commitments of all Lenders as from time to 

 18
 

time in effect and
reflected in the Register, and (b) at all other times, the ratio of the
respective amounts of the outstanding Credit Obligations (including Letter of
Credit Exposure) owing to such Lender in respect of extensions of credit under Section
2 divided by the total outstanding Credit Obligations (including Letter of
Credit Exposure) owing to all Lenders.

“Permitted
Acquisition” means an Acquisition that meets the following conditions:

(a)                                  Such
proposed Permitted Acquisition does not cause the aggregate cash purchase price
of all Acquisitions in any one (1) calendar year to equal or exceed
$100,000,000; provided that Required Lenders will not unreasonably
withhold their consent to additional Acquisitions and the Agent shall receive
at least ten (10) days’ prior written notice of any proposed Permitted
Acquisition for which the cash consideration exceeds $25,000,000;

(b)                                 Such
proposed Permitted Acquisition shall only involve assets or businesses
comprising a business, or those assets of a business, substantially of the type
engaged in by the Borrowers as of the date of this Agreement;

(c)                                  Such
proposed Permitted Acquisition shall be consensual and shall have been approved
by the Target’s board of directors (and stockholders to the extent required by
Applicable Law);

(d)                                 No
Default or Event of Default shall have occurred and be continuing or shall
result from the consummation of such proposed Permitted Acquisition;

(e)                                  Prior
to the closing of such proposed Permitted Acquisition for which cash
consideration exceeds $25,000,000, (i) the Borrowers shall deliver to the Agent
pro forma Consolidated financial
statements for the Parent and its Subsidiaries, including the Target, in form
satisfactory to the Agent, (ii) after giving effect to such proposed Permitted
Acquisition the Borrowers will be in compliance with the financial covenants
set forth in Sections 9.4, 9.5, and 9.6 on a pro forma basis, (iii) the Leverage Ratio, as calculated as
of the most recently ended fiscal quarter of the Parent, but after giving pro forma effect to such proposed Permitted Acquisition,
will not exceed 2.50 to 1.00, (iv) any secured Indebtedness assumed in such
proposed Permitted Acquisition is purchase money Indebtedness or Capitalized
Leases secured only by the assets of the Target acquired with the proceeds of
such purchase money Indebtedness or Capitalized Leases, and (v) the Borrowers
shall deliver to the Agent a certificate of a Financial Officer certifying as
to the matters set forth paragraph (d) above and in clauses (ii) through (iv)
of this paragraph (e);

(f)                                    The
business and assets of the Target shall be free of Liens, except Liens
permitted in connection with Indebtedness permitted to be assumed by paragraph
(e) of this definition and Liens permitted under Section 9.8; and

(g)                                 All
necessary or appropriate third party and government waivers and consents
relating to the Permitted Acquisition have been received.

 19
 

“Person” means any
present or future natural person or any corporation, association, partnership,
joint venture, limited liability, joint stock or other company, business trust,
trust, organization, business or government or any Governmental Authority or
political subdivision thereof.

“Plan” means all
employee benefit plans within the meaning of Section 3(3) of ERISA maintained
or contributed to by each ERISA Group Person.

 

“Platform”
is defined in Section 16.2.

“Project” means each contractual arrangement
between a client and the Parent or a Subsidiary for the performance of services
(including design, engineering, procurement, construction program management
and any other services that the Parent or a Subsidiary provides to its clients
in the ordinary course of business).

“RCRA”
means the federal Resource Conservation and Recovery Act, 42 U.S.C. § 690,
et seq.

“Refunded Swing Line Loan” is defined in Section 2.2.3.

“Register”
is defined in Section 14.1.3.

“Replacement Lender” is defined in Section
3.5.7.

“Reportable Event” means an event that is
reportable under Section 4043(c)(1), (2), (3), (4), (5), (6), (7), (10),
(11), (12) or (13) of ERISA and for which a waiver is not available.

“Required Lenders”
means, with respect to any approval, consent, modification, waiver or other
action to be taken by the Agent or the Lenders under the Credit Documents which
require action by Required Lenders, two (2) or more Lenders owning together
more than 50.1% of the Percentage Interests.

“Revolving Credit
Loan” is defined in Section 2.1.1.

“Revolving Credit
Notes” is defined in Section 2.1.4.

“Significant Subsidiary” means any direct or
indirect Subsidiary of the Parent (a) of which the Parent owns or controls
80% or more of the issued and outstanding stock or other ownership interests
and (b) which has total assets as shown on its balance sheet, determined
in accordance with GAAP, exceeding $750,000.

“Solvent”
means, with respect to any Person as of a particular date, that on such date
(a) such Person is able to pay its debts and other liabilities, Contingent
Obligations and other commitments as they mature in the normal course of
business, (b) such Person does not intend to, and does not believe that it
will, incur debts or liabilities beyond such Person’s ability to pay as such
debts and liabilities mature in their ordinary course, (c) such Person is
not engaged in a business or a transaction, and is not about to engage in a
business or a transaction, for which such Person’s assets would constitute
unreasonably small capital after giving due consideration to the prevailing
practice in the industry in which such Person is engaged or is to engage,
(d) the fair 

 20
 

value of the assets of
such Person is greater than the total amount of liabilities including
Contingent Obligations, of such Person, and (e) the present saleable value
of the assets of such Person is not less than the amount that will be required
to pay the probable liability of such Person on its debts as they become
absolute and mature.  In computing the
amount of Contingent Obligations at any time under this definition, it is
intended that such liabilities are to be computed at the amount which, in light
of all the facts and circumstances existing at such time, represents the amount
that can reasonably be expected to become an actual or matured liability.

“Specified Lien” is defined in Section 7.10.

“Subsidiary”
means any subsidiary required by GAAP to be included in the Consolidated
financial reporting of the Parent (or other specified Person).  References to the Subsidiaries of the Parent
(or of any other other specified Person, as the case may be) shall mean the
Parent’s or such specified Person’s direct or indirect Subsidiaries.

“Subsidiary
Guarantee” means the Amended and Restated Subsidiary
Guarantee executed and delivered by each Material Subsidiary, as from time to
time amended, modified, supplemented and in effect, substantially identical to
the form of Subsidiary Guarantee attached as Exhibit 6.

“Swing Line
Available Credit” means the lesser of
(i) $25,000,000 less the outstanding principal amount of all Swing
Line Loans, and (ii) the Swing Line Lender’s Percentage Interest of the
Available Credit.

“Swing Line
Lender” means Wells Fargo.

“Swing Line Loan”
is defined in Section 2.2.1.

“Swing Line Note”
is defined in Section 2.2.2.

“Synthetic Leases” means, collectively, the
$53,000,000 Lease Transaction, the $23,000,000 Lease Transaction and the 2005
Lease Transaction.

“Synthetic Lease Termination” means the
termination of the each of the Synthetic Leases by the Borrowers, and, in
connection therewith, the payment in full all outstanding obligations owing or
otherwise payable under or in respect of each of the Synthetic Leases and the
sale of all real property subject to each of the Synthetic Leases on an
arms-length basis to a Person that is not an Affiliate of a Borrower or a
Subsidiary.

“Synthetic Lease Termination Effective Date”
means the date that is three (3) Banking Days after the date the Agent receives
the Synthetic Lease Termination Notice (including all reasonably requested
supporting documentation); provided that upon receipt of supporting
documentation reasonably requested by the Agent in connection with the
Synthetic Lease Termination Notice, the Synthetic Lease Termination Effective
Date shall date back to the date the Agent receives the Synthetic Lease
Termination Notice.

“Synthetic Lease Termination Notice” means
written notice from the Parent to the Agent of the Synthetic Lease Termination,
containing reasonable detail of the terms of the Synthetic 

 21
 

Lease Termination, and
attaching all supporting documentation reasonably requested by the Agent.

“Target”
means any Person that the Parent or a Subsidiary proposes to acquire by merger,
stock purchase or by the purchase of all or substantially all of its assets.

“Tax”
means any present or future tax, levy, duty, impost, deduction, withholding or
other charge of whatever nature at any time required by any Legal Requirement
(a) to be paid by any Lender or (b) to be withheld or deducted from
any payment otherwise required hereby to be made to any Lender, in each case on
or with respect to its obligations hereunder, any Loan, any payment in respect
of the Credit Obligations or any Funding Liability not included in the
foregoing; provided, however, that the term “Tax” shall
not include taxes imposed upon or measured by the net income of such Lender
(other than withholding taxes).

“Total Commitment”
means the aggregate amount of all Commitments.

“Total Funded Debt” means the sum of all
Indebtedness of the Parent and its Subsidiaries less (a) for any single
Project, the aggregate face amount of all issued and outstanding performance
Letters of Credit with a face amount of less than $5,000,000 and (b) for
Projects that are cross-defaulted to one (1) or more other Projects (“Cross-Defaulted
Projects”), the aggregate face amount of all issued and outstanding
performance Letters of Credit with combined face amounts of less than
$5,000,000; to the extent that the aggregate face amount of such Letters of
Credit described in (a) and (b) is less than $100,000,000.  For the purposes of computing Total Funded
Debt, (i) the undrawn and available amount of any performance Letter of Credit
equal to or in excess of $5,000,000 and the aggregate undrawn and available
amount of any performance Letters of Credit issued for any single Project or
for any Cross-Defaulted Projects that together equal or exceed $5,000,000 shall
be included in Indebtedness; and (ii) on and after the Synthetic Lease
Termination Effective Date, this definition of “Total Funded Debt” shall be
amended to delete clauses (a) and (b) of the first sentence and the second
sentence.  Notwithstanding the foregoing,
for purposes of calculating the Leverage Ratio as of any date prior to the
earlier to occur of (i) June 30, 2008 or (ii) the Synthetic Lease Termination
Effective Date, the VECO Holdback shall be excluded from the calculation of
Total Funded Debt.

[**]

**Confidential Treatment
Requested.

[**] means the Acquisition by the Borrowers of
substantially all of the assets of [**], with a purchase price not to exceed an
aggregate of [**], such purchase price inclusive of all consideration paid in
cash or other property to [**] (with the value of such other property
determined as of the closing date of the [**] Acquisition) including [**].

**Confidential Treatment
Requested.

“U.S. Dollar Equivalent” means, with respect to
any currency at any date, (i) the amount of such currency if such currency is
United States Dollars or (ii) the Equivalent Amount thereof if such currency is
any Foreign Currency.

“United States
Dollars” means lawful currency of the United States.

 22
 

“Unused Line Percentage” means a percentage per
annum determined as set forth in the column entitled “Unused Line Fee” in the
following table, determined by the Leverage Ratio for the preceding
fiscal quarter of the Parent, provided that from the Initial Closing
Date until the first day of the month commencing after the month in which the
Agent receives the Parent’s financial statements for the Parent’s fiscal
quarter ended September 30, 2007, the Unused Line Percentage shall be deemed to
be 0.25%:

	
  Leverage Ratio

  	
   

  	
  Unused Line Fee

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  > 2.00 <3.00

  	
   

  	
  0.25

  	
  %

  
	
  > 1.50 <2.00

  	
   

  	
  0.20

  	
  %

  
	
  > 1.00 <1.50

  	
   

  	
  0.15

  	
  %

  
	
  <1.00

  	
   

  	
  0.10

  	
  %

  

 

“VECO” means VECO
Corporation, a Delaware corporation.

 

“VECO Acquisition”
means the Acquisition by Borrowers of VECO and certain of its subsidiaries,
substantially as set forth in the VECO Letter of Intent, with a purchase price
not to exceed an aggregate of $450,000,000, such purchase price to be inclusive
of all consideration paid in cash or other property to the selling stockholders
in the VECO Acquisition (with the value of such other property determined as of
the closing date of the VECO Acquisition) including the VECO Holdback, any
seller notes, deferred purchase price, “earn-out” or similar payments, any
capital stock of any Borrower or any Subsidiary issued to the sellers in the
VECO Acquisition, and all assumed third party Indebtedness.

 

“VECO Acquisition
Conditions” is defined in Section 8.3.

 

“VECO Holdback”
means the “Holdback Amount” as defined in the VECO Letter of Intent in the
amount of $70,000,000, which amount is to be withheld from the purchase price
paid to the selling VECO stockholders for the VECO Acquisition in order to
serve as the exclusive, subject to certain exceptions, source of  repayment of the selling VECO stockholders’
indemnity obligations under the VECO Purchase Agreement.

 

“VECO Letter of Intent”
means the letter of intent dated June 15, 2007, between the Parent and VECO.

 

“VECO Purchase
Agreement” means the definitive stock purchase agreement to be entered into
among Parent, VECO and each of VECO’s stockholders pursuant to which the
transactions contemplated by the VECO Letter of Intent, including the VECO
Acquisition, shall be consummated.

 

“Wells Fargo”
means Wells Fargo Bank, National Association (or any successor thereto).

“Withdrawal
Liability” has the meaning specified in Part I of
Subtitle E of Title IV of ERISA.

“2005 Lease Documents” means those documents
listed on Exhibit 9.3.6C.

 23
 

“2005 Lease Obligations” means the Indebtedness
of the Borrowers under the 2005 Lease Documents.

“2005 Lease Transaction” means the lease
transaction entered into on or about October 19, 2005, by the Borrowers and
certain other parties pursuant to the 2005 Lease Documents, for the purpose of
constructing, financing the construction of, and leasing to CH2M HILL, INC. a
new building for the Borrowers in Douglas County, Colorado.

“$23,000,000 Lease Documents” means those
documents listed on Exhibit 9.3.6B.

“$23,000,000 Lease Obligations” means the
Indebtedness of the Borrowers under the $23,000,000 Lease Documents.

“$23,000,000 Lease Transaction” means the lease
transaction entered into on or about March 28, 2002, by the Borrowers and
certain other parties pursuant to the $23,000,000 Lease Documents, for the
purpose of constructing, financing the construction of, and leasing to CH2M
HILL, INC. a new headquarters building for the Borrowers in Douglas County,
Colorado.

“$53,000,000 Lease Documents” means those
documents listed on Exhibit 9.3.6A.

“$53,000,000 Lease Obligations” means the
Indebtedness of the Borrowers under the $53,000,000 Lease Documents.

“$53,000,000 Lease Transaction” means the
$53,000,000 lease transaction entered into on or about July 2, 2001 by and
among the Borrowers and certain other parties pursuant to the $53,000,000 Lease
Documents, for the purpose of financing the construction of two (2)  new headquarters buildings for the
Borrowers in Douglas County, Colorado.

2.                                       The Credits.  Schedule 2 sets forth all outstanding
amounts of principal Indebtedness in respect of Base Rate Loans, LIBOR Loans,
Swing Line Loans (each as defined in the Original Credit Agreement) and all
issued and undrawn, or drawn and unreimbursed, Letters of Credit (as defined in
the Original Credit Agreement) for each Existing Lender (the “Aggregate
Outstanding Principal Amount”). 
Notwithstanding anything to the contrary contained in the Original
Credit Agreement, in order to effect the restructuring of the Original Credit
Facility as contemplated by this Agreement, (i) all Loans (as defined in the
Original Credit Agreement), whether Base Rate Loans or LIBOR Loans, will be
deemed Base Rate Loans or LIBOR Loans (as applicable) on the Initial Closing
Date in accordance with this Agreement, including this Section 2,
(ii) all “Letters of Credit” under and as defined in the Original Credit
Agreement shall be deemed Letters of Credit in accordance with this Agreement,
including this Section 2, and (iii) all accrued and unpaid
interest, including all accrued and unpaid interest on the Aggregate
Outstanding Principal Amount, and all accrued and incurred and unpaid fees,
costs and expenses payable under the Original Credit Agreement with respect to
the Existing Credit Facility, including all accrued and unpaid unused line fees
under Section 3.3.1 of the Original Credit Agreement and letter of
credit fees under Section 3.3.2 of the Original Credit Agreement,
all applicable breakage fees under Section 3.2.4 of the Original
Credit Agreement incurred in connection with the termination of the Interest
Periods in respect of all outstanding LIBOR Loans on the Initial Closing Date,
regardless of whether such date is the last day of the applicable Interest
Period, and all fees and expenses outstanding under Section 12.1 or
12.2 and other similar costs and expenses, shall be due and 

 24
 

payable on the Initial Closing Date.  The rates of interest chargeable on Loans
outstanding as of the Initial Closing Date hereunder shall remain in effect
through the day immediately preceding the Initial Closing Date.  The Borrowers covenant and agree that they
shall not, and represent and warrant that they have not, between the date of
this Agreement and the Initial Closing Date, requested any further Loans
(including any Swing Line Loans) or requested the issuance of any additional
Letters of Credit under (and as such terms are defined in) the Original Credit
Agreement.

On the Initial Closing
Date and the satisfaction of all conditions as set forth in Section 8.1,
each Existing Lender’s portion of the Aggregate Outstanding Principal Amount
shall be deemed to continue hereunder as a Base Rate Loan and shall be applied
to such Lender’s Commitment, comprising the applicable portion of such Lender’s
Commitment to be funded on the Initial Closing Date.  Such continuing Base Rate Loans shall be
subject to the same terms and conditions as if such Loans were advanced
initially as Base Rate Loans comprising Loans hereunder.  Commencing with the Initial Closing Date, the
rates of interest chargeable on Loans outstanding as of the Initial Closing
Date hereunder shall be chargeable at the respective rates and shall be payable
in the manner set forth in Section 3.1.   Issued Letters of Credit undrawn or drawn
but as yet unreimbursed as of the Initial Closing Date shall be deemed to
constitute Letters of Credit issued hereunder in the same manner and subject to
the same terms and conditions as if such Letters of Credit were issued
initially as Letters of Credit pursuant to Section 2.4.1 and each
Existing Lender’s purchase of a participation in each such Letter of Credit
pursuant to Section 2.4.4 of the Original Credit Agreement shall be
deemed automatically terminated and immediately replaced thereupon by the
purchase by each Lender of a participation in each such Letter of Credit or any
unreimbursed drawings on any such Letter of Credit on a pro rata basis based on
such Lender’s Percentage Interest, pursuant to Section 2.4.4.

2.1                                                         Revolving
Credit.

2.1.1                        Revolving
Credit Loans.  Subject to all terms
and conditions of this Agreement and so long as no Default or Event of Default
exists, from time to time on and after the Initial Closing Date and prior to
the Final Maturity Date, the Lenders agree, severally in accordance with their
respective Commitments to make a revolving credit facility available as loans
(each, a “Revolving Credit Loan” and, collectively, the “Revolving
Credit Loans”) to the Borrowers, jointly and severally, in United States
Dollars or, with respect to LIBOR Loans, a Foreign Currency, as applicable, in
such amounts as may be requested by the Parent in accordance with Section 2.1.3.  The Revolving Credit Loans will consist of
Base Rate Loans or LIBOR Loans.  The
Lenders will not make a Revolving Credit Loan to the extent that the amount of
the requested Revolving Credit Loan exceeds Available Credit.  No Lender will have an obligation to make a
Base Rate Loan or a LIBOR Loan to the extent that the amount of such requested
Base Rate Loan or LIBOR Loan exceeds the Lender’s Percentage Interest
multiplied by Available Credit or to the extent that making such Base Rate Loan
or LIBOR Loan would cause the Lender’s Percentage Interest multiplied by the
aggregate outstanding principal amount of all Loans plus the Letter of Credit
Exposure to exceed such Lender’s Commitment. 
The Lenders will have no obligation to make a Multicurrency LIBOR Loan
to the extent the amount of such requested Multicurrency LIBOR Loan exceeds the
Multicurrency Available Credit.

 25
 

2.1.2                        Maximum
Amount of Credit.  The term “Maximum
Amount of Credit” means $500,000,000, unless this amount is increased or
reduced pursuant to Sections 2.7, 2.8, 3.5, 4.2.1
or 14, in which event it means such higher or lower amount.  Each reduction of the Maximum Amount of
Credit shall ratably reduce each Lender’s Commitment.

2.1.3                        Borrowing
Requests.  The Parent, on behalf of
the applicable Borrower, may from time to time request a Revolving Credit Loan
under Section 2.1.1 by providing to the Agent a notice (which may
be given by a telephone call from an Authorized Representative received by a
Lending Officer if promptly confirmed in writing) (“Notice of Revolving
Credit Advance”).  Such Notice of
Revolving Credit Advance must be delivered not later than 11:00 a.m. (Denver
time) on the first Banking Day (third Banking Day if any portion of such
Revolving Credit Loan shall be a Dollar LIBOR Loan and the fourth Banking Day
if any portion of such Revolving Credit Loan shall be a Multicurrency LIBOR
Loan) prior to the requested Closing Date for such Revolving Credit Loan.  The notice must specify (a) the amount
of the requested Revolving Credit Loan, (b) the name of the applicable
Borrower, (c) whether the requested Revolving Credit Loan will be
requested as Dollar LIBOR Loans, Multicurrency LIBOR Loans (and the applicable
Foreign Currency) or Base Rate Loans, (d) with respect to LIBOR Loans, the
Interest Period, and (e) the requested Closing Date therefor (which will
be a Banking Day).  Each Revolving Credit
Loan requested as Base Rate Loans will be at least $1,000,000 and an integral
multiple of $100,000.  Each Revolving
Credit Loan requested as Dollar LIBOR Loans will be at least $2,000,000 and an
integral multiple of $500,000.  Each
Revolving Credit Loan requested as Multicurrency LIBOR Loans will be at least
the U.S. Dollar Equivalent of $2,000,000 and an integral multiple of the U.S.
Dollar Equivalent of $500,000.  Upon
receipt of such Notice of Revolving Credit Advance, the Agent will promptly
inform each other Lender (by telephoning or otherwise).  In connection with each Revolving Credit
Loan, the Parent will furnish to the Agent a certificate in substantially the
form of Exhibit 8.2.1.

2.1.4                        Revolving
Credit Notes.  The Agent will keep a
record of the Revolving Credit Loans. 
The aggregate principal amount of each Revolving Credit Loan will be
deemed owed to each Lender severally in accordance with such Lender’s
Percentage Interest, and all payments will be for the account of each Lender in
accordance with its Percentage Interest. 
Any Lender may request that the Borrowers’ obligations to repay
Revolving Credit Loans made by such Lender, together with interest thereon as
provided herein, be evidenced by a promissory note in accordance with such
Lender’s Percentage Interest in the aggregate principal amount of the Revolving
Credit Loans made by such Lender.  In
such event, the Borrowers shall prepare, execute and deliver to such Lender a
promissory note payable to the order of such Lender (or, if requested by such
Lender, to such Lender and its registered assigns) substantially in the form of
Exhibit 2.1.4 (each, a “Revolving Credit Note”), with
appropriate insertions as to the Lender, the date and the principal
amount.  Thereafter, the Loans evidenced
by such Revolving Credit Note and interest thereon shall at all times
(including after assignment pursuant to Section 14.1) be
represented by one or more Revolving Credit Notes in such form payable to the
order of the payee named therein (or, if such promissory note is a registered
note, to such payee and its registered assigns).

 26
 

2.1.5                        Lender
Funding and Disbursement.  Each
Lender will, before 10:00 a.m. (Denver time) on the Closing Date of each
Revolving Credit Loan under Section 2.1.1, make available to the
Agent at the Denver Office (or, at the request of the Agent, in the case of a
Revolving Credit Loan requested as Multicurrency LIBOR Loans, at such bank as
the Agent may designate to the Lenders) by deposit, in United States Dollars or
the applicable Foreign Currency, in same day or immediately available funds,
such Lender’s Percentage Interest of the aggregate principal amount of such
Revolving Credit Loan.  After the Agent’s
receipt of such funds and upon fulfillment of the applicable conditions set
forth in Section 8, the Agent will promptly disburse such funds in
same day or immediately available funds in the applicable Foreign Currency in
the case of a Revolving Credit Loan requested as Multicurrency LIBOR Loans, and
in United States Dollars in the case of all other Revolving Credit Loans, to
the Borrowers.  Each Revolving Credit
Loan will be made at the Denver Office by depositing the amount thereof to the
general account of the Parent with the Agent.

2.1.6                        Continuations
and Conversions.  The Borrowers will
have the option, on any Banking Day, to continue existing LIBOR Loans for a
subsequent Interest Period, to convert Base Rate Loans into LIBOR Loans or to
convert LIBOR Loans into Base Rate Loans; provided, however, that
(i) LIBOR Loans may only be continued or converted into Base Rate Loans on
the last day of the applicable Interest Period, (ii) LIBOR Loans may not
be continued nor may Base Rate Loans be converted into LIBOR Loans during the
existence of an Event of Default, and (iii) any request to continue or
convert a LIBOR Loan that fails to comply with the terms of this Agreement
(including the minimum amounts and the time periods in Section 2.1.3 and
3.2.1) as if such LIBOR Loan is a new LIBOR Loan or any failure to
request a continuation of a LIBOR Loan at the end of an Interest Period shall
constitute a conversion to a Base Rate Loan on the last day of the Interest
Period.  All continuations and
conversions must be made uniformly and ratably among the Lenders.

2.1.7                        Lenders’
Obligations to Fund.  Unless the Agent
has received notice from a Lender prior to the date of any Revolving Credit
Loan that such Lender will not make available to the Agent the Lender’s
Percentage Interest of the aggregate principal amount of such Revolving Credit
Loan, the Agent may assume that the Lender has made its Percentage Interest of
the aggregate principal amount of such Revolving Credit Loan available to the
Agent on the Closing Date of such Revolving Credit Loan in accordance with Section 2.1.5,
and the Agent may, in reliance upon such assumption, make available to the
Borrowers a Revolving Credit Loan in a corresponding amount.  If and to the extent that a Lender has not
made its Percentage Interest of the aggregate principal amount of a Revolving
Credit Loan available to the Agent, such defaulting Lender and the Borrowers
severally agree to repay or pay to the Agent forthwith upon demand the
corresponding amount and to pay interest thereon, for each day from the
applicable Closing Date the amount is made available to the Borrowers until the
date such amount is repaid or paid to the Agent, at (i) in the case of the
Borrowers, the Applicable Rate applicable at such time under Section 3.1
to such Revolving Credit Loan, and (ii) in the case of the defaulting
Lender, the Federal Funds Rate for the first two (2) Banking Days and the Base
Rate thereafter.  In addition to other
rights and remedies which the Agent may have under the immediately preceding
provision or otherwise, the Agent shall be 

 27
 

entitled (i)
to withhold or setoff and to apply in satisfaction of the defaulted payment and
any related interest, any amounts otherwise payable to such defaulting Lender
under this Agreement or any other Credit Document until such defaulted payment
and related interest has been paid in full and such default no longer exists
and (ii) to bring an action or suit against such defaulting Lender in a court
of competent jurisdiction to recover the defaulted amount and any related
interest.  Any amounts received by the
Agent in respect of a such defaulting Lender’s Base Rate Loans or LIBOR Loans
shall not be paid to such defaulting Lender and shall be held uninvested by the
Agent and either applied against the purchase price of such defaulting Lender’s
interest in the Credit Obligations under Section 2.1.8 or paid to such
defaulting Lender upon the default of such defaulting Lender being cured.

2.1.8                        Purchase
from Defaulting Lender.  Any Lender
that is not a defaulting Lender as set forth in Section 2.1.7 shall have
the right, but not the obligation, in its sole discretion, to acquire all of a
defaulting Lender’s interests, rights and obligations under the Credit
Documents, the portion of the Credit Obligations at the time owing to such
defaulting Lender and the Notes held by it. 
If more than one (1) Lender exercises such right, each such Lender shall
have the right to acquire such interests on a pro rata basis based on its
Percentage Interest.  Upon any such
purchase, the defaulting Lender’s interest in the Credit Obligations and its
rights hereunder (but not its liability in respect thereof or under the Credit
Documents or this Agreement to the extent the same relate to the period prior
to the effective date of the purchase) shall terminate on the date of purchase,
and the defaulting Lender shall promptly execute all documents reasonably
requested to surrender and transfer such interest to the purchaser thereof
subject to and in accordance with the requirements set forth in Section 14,
including an Assignment and Acceptance in form acceptable to the Agent.  The purchase price for the defaulting Lender’s
interests, rights and obligations under the Credit Documents, the portion of
the Credit Obligations at the time owing to such defaulting Lender and the
Notes held by it, shall be equal to the amount of the Credit Obligations then
owed to such defaulting Lender.  The
purchaser shall pay such purchase price to the defaulting Lender in same day or
immediately available funds on the date of such purchase (it being understood that
accrued and unpaid interest and fees may be paid pro rata to the purchasing
Lender and the defaulting Lender by the Agent at a subsequent date upon receipt
of payment of such amounts from the Borrowers). 
Prior to payment of such purchase price to a defaulting Lender, the
Agent shall apply against such purchase price any amounts retained by the Agent
pursuant to the last sentence of Section 2.1.7.  The defaulting Lender shall be entitled to
receive amounts owed to it by the Borrowers under the Credit Documents which
accrued prior to the date of the default by the defaulting Lender, to the
extent the same are received by the Agent from or on behalf of the
Borrowers.  There shall be no recourse
against any Lender or the Agent for the payment of such sums except to the
extent of the receipt of payments from any other party or in respect of the
Credit Obligations.  No such termination
of any defaulting Lender’s obligations hereunder and the purchase of such
defaulting Lender’s interests pursuant to this Section 2.1.8 will
affect (x) any liability or obligation of the Borrowers, the Agent or any
other Lender to such defaulting Lender which accrued on or prior to the date of
such purchase, or (y) such defaulting Lender’s rights hereunder in respect
of any such liability or obligation. 
Upon 

 28
 

the effective
date of such purchase, such defaulting Lender will cease to be a “Lender”
hereunder.

2.1.9                        Lenders’
Obligations Several.  The obligation
of each Lender hereunder is several.  The
failure of any Lender to make available its Percentage Interest of the
aggregate principal amount of any Revolving Credit Loan will not relieve any
other Lender of its obligation hereunder to do so on the date requested, but no
Lender will be responsible for the failure of any other Lender to make
available its Percentage Interest of the aggregate principal amount of any
Revolving Credit Loan to be funded by such other Lender.

2.2 Swing Line.

2.2.1                        Swing
Line Loans.  In lieu of making
Revolving Credit Loans, the Swing Line Lender may, in its sole discretion, on
the terms and subject to the conditions of this Agreement, make available to
the Borrowers, from time to time until the Final Maturity Date, a short-term
revolving loan (a “Swing Line Loan”). 
The Swing Line Lender will not make a Swing Line Loan to the extent that
the amount of such requested Swing Line Loan exceeds the Swing Line Available
Credit.  Until the Final Maturity Date,
the Borrowers may from time to time borrow, repay and reborrow under this Section 2.2.1.  Each Swing Line Loan will be made, at the
Swing Line Lender’s discretion, upon written or telephonic notice from the
Parent to the Lending Officer of the Swing Line Lender on the date of receipt
of such notice if such day is a Banking Day and if such notice is received
before 2:00 p.m. (Denver time), or if received after 2:00 p.m. (Denver time),
such Swing Line Loan shall be made on the next Banking Day.  Notwithstanding any other provision of this
Agreement or the other Credit Documents, each Swing Line Loan will constitute a
Base Rate Loan denominated in United States Dollars.  The Borrowers shall repay the aggregate
outstanding principal amount of each outstanding Swing Line Loan on the earlier
of the Final Maturity Date and the tenth Banking Day after such Swing Line Loan
is made; provided that on each date that a Revolving Credit Loan is
made, the Borrowers shall repay all Swing Line Loans then outstanding (which
repayment may be made with proceeds of such Revolving Credit Loan as provided
in Section 2.2.3); provided further that the Borrowers may
not use the proceeds of a new Swing Line Loan to repay any Swing Line Loan then
outstanding.  Each Swing Line Loan will
be made at the Denver Office by depositing the amount thereof in United States
Dollars to the general account of the Parent with the Agent.  In connection with each Swing Line Loan,
before the Closing Date of such Swing Line Loan, the Parent will furnish to the
Agent a certificate in substantially the form of Exhibit 8.2.1.

2.2.2                        Swing
Line Note.  If requested by the Swing
Line Lender, the Borrowers’ obligations to repay the Swing Line Loans, together
with interest thereon as provided herein, will be evidenced by a single master
promissory note, in the principal amount of $25,000,000, in substantially in
the form of Exhibit 2.2.2 (the “Swing Line Note”), payable
to the Swing Line Lender.  If requested
by the Swing Line Lender, each Borrower shall execute the Swing Line Note and
deliver the same to the Agent on behalf of the Swing Line Lender.  Thereafter, the Swing Line Loans evidenced by
such Swing Line Note and interest thereon shall at all times (including after
assignment pursuant to Section 14.1) be represented by the Swing
Line Note in such form payable to the order of 

 29
 

the Swing Line
Lender (or, if such promissory note is a registered note, to such payee and its
registered assigns).  The entire unpaid
principal balance of the Revolving Credit Loans, the Swing Line Loans (subject
to Section 2.2.1) and all other non-contingent Credit Obligations
shall be immediately due and payable in full in immediately available funds on
the Final Maturity Date if not sooner paid in full.

2.2.3                        Refunding
of Swing Line Loans.  The Swing Line
Lender, at any time and from time to time in its sole and absolute discretion
may, on behalf of any Borrower (and each Borrower hereby irrevocably authorizes
the Swing Line Lender to so act on its behalf), request that each Lender
(including the Swing Line Lender) make a Base Rate Loan to such Borrower in an
amount equal to such Lender’s Percentage Interest of the aggregate principal
amount of such Borrower’s Swing Line Loan(s) (the “Refunded Swing Line Loan”)
outstanding on the date such notice is given and maturing on the next
succeeding Banking Day.  Unless a
Bankruptcy Default exists (in which event the procedures of Section 2.2.4
will apply) and regardless of whether the conditions precedent set forth in
this Agreement to the making of a Revolving Credit Loan are then satisfied,
each Lender will disburse directly to the Agent, its Percentage Interest of the
aggregate principal amount of such Revolving Credit Loan as a Base Rate Loan,
prior to 12:00 noon (Denver time), in immediately available funds on such next
succeeding Banking Day.  The proceeds of
such Base Rate Loans shall be immediately paid to the Swing Line Lender and
applied to repay the Refunded Swing Line Loan of the applicable Borrower, as
requested by the Swing Line Lender.

2.2.4                        Participation
in Swing Line Loans.  If, prior to
refunding a Swing Line Loan with a Revolving Credit Loan pursuant to Section 2.2.3,
a Bankruptcy Default exists, then each Lender shall, on the date such Revolving
Credit Loan was to have been made for the benefit of the applicable Borrower,
purchase from the Swing Line Lender an undivided participation interest in such
Swing Line Loan.  Upon request, each
Lender shall promptly transfer to the Swing Line Lender, in immediately
available funds, the amount of its participation.

2.2.5                        Lender’s
Funding Obligations.  Each Lender’s
obligation to make Base Rate Loans in accordance with Section 2.2.3
and to purchase participating interests in accordance with Section 2.2.4
shall not be affected by any setoff, counterclaim, recoupment, defense or other
right which such Lender may have against the Agent, the Swing Line Lender, any
Borrower or any other Person for any reason whatsoever.  If any Lender does not make available to the
Swing Line Lender the amount required pursuant to Section 2.2.3 or Section
2.2.4, as the case may be, the Swing Line Lender shall be entitled to
recover such amount on demand from such Lender, together with interest thereon
for each day from the date of nonpayment until such amount is paid in full at
the Federal Funds Rate for the first two (2) Banking Days and at the Base Rate
thereafter.

2.3 Currency Equivalents for Multicurrency LIBOR
Loans.

2.3.1                        Conversion
Rate for Multicurrency LIBOR Loans. 
The principal amount of each Revolving Credit Loan consisting of
Multicurrency LIBOR Loans which is denominated in a Foreign Currency
(a) will be converted into its U.S. Dollar Equivalent on the date of the
funding of such Revolving Credit Loan (the “Converted Principal 

 30
 

Amount”),
and the Converted Principal Amount will be added to the principal balance
outstanding under the Revolving Credit Notes on the date of the funding of such
Revolving Credit Loan, and (b) from and after any such date, will be
deemed to remain equivalent to the Converted Principal Amount until the end of
the applicable Interest Period notwithstanding any fluctuation in exchange
rates occurring thereafter.

2.3.2                        Revaluation.  If at the expiration of an Interest Period
for a Revolving Credit Loan consisting of Multicurrency LIBOR Loans, such
Revolving Credit Loan will remain denominated in the same Foreign Currency for
a succeeding Interest Period, then the principal amount of such Revolving
Credit Loan will be revalued based on the U.S. Dollar Equivalent, and a new
Converted Principal Amount will be calculated, as of the Banking Day preceding
the next Interest Period.

2.4 Letters of Credit.

2.4.1                        Issuance
of Letters of Credit.  Subject to all
terms and conditions of this Agreement and so long as no Default or Event of
Default exists, from time to time on and after the Initial Closing Date and
prior to the Final Maturity Date, each Issuing Bank will issue for the account
of the Borrowers standby financial, standby performance and commercial letters
of credit and Bank Undertakings denominated in United States Dollars or in a
currency other than United States Dollars in accordance with this Agreement
(each, a “Letter of Credit” and collectively, the “Letters of Credit”).  No Issuing Bank will issue a Letter of Credit
to the extent that the face amount of such requested Letter of Credit exceeds
the LC Available Credit, or with respect to Letters of Credit issued in currencies
other than United States Dollars, the Multicurrency Available Credit.

2.4.2                        Requests
for Letters of Credit.  The Parent,
on behalf of the applicable Borrower, may from time to time request a Letter of
Credit to be issued (or amended, renewed or extended) by providing a notice
from an Authorized Representative to the applicable Issuing Bank and the Agent
which is actually received by both not less than three (3) Banking Days prior
to the requested Closing Date for such Letter of Credit if such Letter of Credit
is to be denominated in United States Dollars, and four (4) Banking Days prior
to the requested Closing Date for such Letter of Credit if such Letter of
Credit is to be denominated in a currency other than United States Dollars, in
each case specifying (a) the amount of the requested Letter of Credit, (b) the
applicable Borrower, (c) the beneficiary thereof, (d) the requested Closing
Date, (e) the applicable Issuing Bank, (f) the requested currency, if not in
United States Dollars, (g) the principal terms of the text for such Letter of
Credit and (h) any other information reasonably requested by the applicable
Issuing Bank.  Following receipt of such
notice, if a currency other than United States Dollars is requested, the Agent
shall calculate on the Closing Date the U.S. Dollar Equivalent of the face
amount of such Letter of Credit as of the Closing Date, and shall promptly
notify the Lenders of the amount thereof. 
The issuance or amendment, renewal or extension of each Letter of Credit
by an Issuing Bank shall, in addition to the conditions precedent set forth in Section
8.2 (the satisfaction of which no Issuing Bank shall have any duty to
ascertain), be subject to the condition precedent that the applicable Issuing
Bank shall have given the Agent written notice that the Parent has delivered to
the Issuing Bank an executed Letter of Credit Agreement acceptable to such
Issuing Bank and that such Letter of Credit is satisfactory to such Issuing
Bank or that the Issuing Bank 

 31
 

has waived
such requirements.  In the event of any
conflict between the terms of this Agreement and the terms of any Letter of
Credit Agreement, the terms of this Agreement shall control.  Each Letter of Credit will be issued by
forwarding it to the applicable Borrower or to such other Person as directed in
writing by an Authorized Representative. 
The Issuing Bank shall promptly deliver a copy of each Letter of Credit
to the Agent.

2.4.3                        Form
and Expiration of Letters of Credit. 
Each Letter of Credit issued under this Section 2.4 and each
draft accepted or paid under such a Letter of Credit will be issued, accepted
or paid, as the case may be, by the applicable Issuing Bank at its principal
office.  No Letter of Credit will provide
for the payment of drafts drawn thereunder (and no draft will be payable) at a
date which is later than the Final Maturity Date.  Each Letter of Credit and each draft accepted
under a Letter of Credit will be in such form and minimum amount, and will
contain such terms, as the applicable Issuing Bank and the applicable Borrower
may agree upon at the time such Letter of Credit is issued, including a
requirement of not less than three (3) Banking Days after presentation of a
draft before payment must be made thereunder.

2.4.4                        Lenders’
Participation in Letters of Credit. 
Upon the issuance of any Letter of Credit (or an amendment of a Letter
of Credit increasing the amount thereof), a participation therein, in an amount
equal to each Lender’s Percentage Interest multiplied by the face amount of
such Letter of Credit (which amount shall be the U.S. Dollar Equivalent of such
face amount, if the Letter of Credit is issued in a currency other than United
States Dollars and which amount will change from time to time as the U.S.
Dollar Equivalent of the face amount of such Letter of Credit changes), will
automatically be deemed granted by the Issuing Bank to each Lender on the date
of such issuance and the Lenders will automatically be obligated, as set forth
in Section 2.4.6 and Section 13.5, to reimburse such Issuing Bank
to the extent of their respective Percentage Interests in such Letter of Credit
for all obligations incurred by such Issuing Bank to third parties in respect
of such Letter of Credit not reimbursed by the Borrowers.  The Agent will send to each Lender a report
regarding the participations in Letters of Credit outstanding during each
month.  Each Lender acknowledges and
agrees that its obligation to acquire participations pursuant to this Section 2.4.4
in respect of Letters of Credit is absolute and unconditional and shall not be
affected by any circumstance whatsoever, including any amendment, renewal or
extension of any Letter of Credit or the occurrence and continuance of a
Default or an Event of Default or a reduction or termination of the Commitments,
and that each such payment shall be made without any offset, abatement,
withholding or reduction whatsoever.

2.4.5                        Presentation.  Upon receipt from the beneficiary of any
Letter of Credit of any demand for payment under such Letter of Credit, the
applicable Issuing Bank shall notify the Agent by telephone (confirmed by
facsimile) of such demand for payment and whether such Issuing Bank has made or
will make a payment thereunder.  The
Agent shall promptly notify the Parent and each other Lender as to the amount
paid or to be paid by the applicable Issuing Bank as a result of such demand
and the proposed payment date.  If the
Letter of Credit was issued in a currency other than United States Dollars, the
Agent shall include in such notice a calculation of the anticipated U.S. Dollar
Equivalent of such amount on the proposed payment date.  The responsibility of each Issuing Bank 

 32
 

to the
Borrowers and each Lender shall be only to determine that the documents
(including each demand for payment) delivered under each Letter of Credit in
connection with such presentment shall be in conformity in all material
respects with such Letter of Credit. 
Except insofar as written instructions actually received are given by
the applicable Borrower expressly to the contrary with regard to, and prior to,
the Issuing Bank’s issuance of any Letter of Credit for the account of the
applicable Borrower and such contrary instructions are reflected in such Letter
of Credit, the Issuing Bank may honor as complying with the terms of the Letter
of Credit and with this Agreement any drafts or other documents otherwise in
order signed or issued by an administrator, executor, conservator, trustee in
bankruptcy, debtor in possession, assignee for benefit of creditors,
liquidator, receiver or other legal representative of the party authorized
under such Letter of Credit to draw or issue such drafts or other
documents.  Each Issuing Bank shall
endeavor to exercise the same care in the issuance and administration of the
Letters of Credit issued by it as it does with respect to letters of credit in
which no participations are granted, it being understood that in the absence of
any gross negligence or willful misconduct by the applicable Issuing Bank, each
Lender shall be unconditionally and irrevocably liable without regard to the
occurrence of any Default or Event of Default or any condition precedent
whatsoever, to reimburse the applicable Issuing Bank as set forth in Section 2.4.6.  No Lender shall hereby be precluded from
asserting any claim for direct (but not consequential) damages suffered by such
Lender to the extent, but only to the extent, caused by (i) the willful
misconduct or gross negligence of the applicable Issuing Bank in determining
whether a request presented under any Letter of Credit issued by it complied
with the terms of such Letter of Credit or (ii) the applicable Issuing Bank’s
failure to pay under any Letter of Credit issued by it after the presentation
to it of a request strictly complying with the terms and conditions of such
Letter of Credit.

2.4.6                        Payment
of Drafts.  At such time as the
applicable Issuing Bank makes any payment on a draft presented or accepted
under a Letter of Credit, the Borrowers shall, on demand, pay to the Agent the
amount of such payment either, at the Borrower’s election, (a) through a
Revolving Credit Loan, subject to the terms and conditions of this Agreement,
including satisfaction of the conditions precedent set forth in this Agreement
to the making of a Revolving Credit Loan, and so long as no Default or Event of
Default exists, or (b) in immediately available funds.  If the Letter of Credit was issued in a
currency other than United States Dollars, the Agent shall determine the U.S.
Dollar Equivalent of such amount on the proposed payment date.  If the Borrowers fail to notify the Agent of
their election as set forth above on the date such demand is made, such amount
shall be considered a Revolving Credit Loan under Section 2.1.1 and part
of the Loans as if the Borrowers had paid in full the amount required with
respect to the Letter of Credit by borrowing such amount under Section 2.1.1. 
In that event, the Agent shall notify each Lender that such Lender is to make a
Revolving Credit Loan to the Borrowers (which shall consist of Base Rate Loans)
in an amount equal to the Lender’s Percentage Interest of the aggregate
principal amount of such Revolving Credit Loan; and, regardless of whether the
conditions precedent set forth in this Agreement to the making of a Revolving
Credit Loan are then satisfied, each Lender (other than the applicable Issuing
Bank) will disburse directly to the applicable Issuing Bank, its Percentage
Interest of the aggregate principal amount of such Revolving Credit Loan, prior
to 12:00 noon (Denver time), in immediately available funds on the Banking Day
next succeeding the date such 

 33
 

notice is
given to such Lender.  The proceeds of
such Revolving Credit Loan shall be applied to repay the amount required by the
first sentence of this Section 2.4.6. 
Promptly following receipt by the Agent of any payment from the
Borrowers pursuant to this Section 2.4.6, the Agent shall distribute
such payment to the applicable Issuing Bank or, to the extent the Lenders have
made payments pursuant to this Section 2.4.6 to reimburse the applicable
Issuing Bank, then to such Lenders and to the applicable Issuing Bank as their
interests may appear.  Any payment made
by a Lender pursuant to this Section 2.4.6 to reimburse the applicable
Issuing Bank (other than the funding of a Revolving Credit Loan as contemplated
above) shall not constitute a Loan and shall not relieve the Borrowers of their
obligation to reimburse the applicable Issuing Bank.

2.4.7                        Subrogation.  Upon any payment by the applicable Issuing
Bank under any Letter of Credit and until the reimbursement of such Issuing
Bank by the Borrowers with respect to such payment, such Issuing Bank will be
entitled to be subrogated to, and to acquire and retain, the rights which the
Person to whom such payment is made may have against the Borrowers, all for the
benefit of the Lenders.  The Borrowers
will take such action as the applicable Issuing Bank may reasonably request,
including requiring the beneficiary of any Letter of Credit to execute such
documents as the applicable Issuing Bank may reasonably request, to assure and
confirm to such Issuing Bank such subrogation and such rights, including the
rights, if any, of the beneficiary to whom such payment is made in accounts
receivable, inventory and other properties and assets of any Obligor.

2.4.8                        Modification,
Consent, Etc.  If the Borrowers
request or consent in writing to any modification or extension of any Letter of
Credit, or waive any failure of any draft, certificate or other document to
comply with the terms of such Letter of Credit, and if the applicable Issuing
Bank consents thereto, such Issuing Bank will be entitled to rely on such
request, consent or waiver.  This
Agreement will be binding upon the Borrowers with respect to such Letter of
Credit as so modified or extended, and with respect to any action taken or
omitted by the Agent or the applicable Issuing Bank pursuant to any such
request, consent or waiver.

2.4.9                        Obligations
Absolute.  The Borrowers’ obligations
under this Section 2.4 shall be absolute and unconditional under
any and all circumstances and irrespective of any setoff, counterclaim or
defense to payment which any Borrower may have or have had against any Issuing
Bank, any Lender or any beneficiary of a Letter of Credit.  The Borrowers further agree with the Issuing
Banks and the Lenders that the Issuing Banks and the Lenders shall not be
responsible for, and the reimbursement obligations of the Borrowers under any
Letter of Credit shall not be affected by, among other things, the validity or
genuineness of documents or of any endorsements thereon, even if such documents
should in fact prove to be in any or all respects invalid, fraudulent or
forged, or any dispute between or among any Borrower, any Borrower’s
Affiliates, the beneficiary of any Letter of Credit or any financing
institution or other party to whom any Letter of Credit may be transferred or
any claims or defenses whatsoever of any Borrower or of any Borrower’s
Affiliates against the beneficiary of any Letter of Credit or any such
transferee.  The Issuing Banks shall not
be liable for any error, omission, interruption or delay in transmission,
dispatch or delivery of any message or advice, 

 34
 

however
transmitted, in connection with any Letter of Credit.  The Borrowers agree that any action taken or
omitted by any Issuing Bank or any Lender under or in connection with each
Letter of Credit and the related drafts and documents, if done without gross
negligence or willful misconduct, shall be binding upon each Borrower and shall
not put any Issuing Bank or any Lender under any liability to any
Borrower.  Nothing in this Section
2.4.9 is intended to limit the right of the Borrowers to make a claim
against any Issuing Bank for damages as contemplated by the proviso to the
first sentence of Section 2.4.11.

2.4.10                  Actions of
Issuing Banks.  Each Issuing Bank
shall be entitled to rely, and shall be fully protected in relying, upon any
Letter of Credit, draft, writing, resolution, notice, consent, certificate,
affidavit, letter, cablegram, telegram, facsimile, telex or teletype message,
statement, order or other document 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, independent accountants and other
experts selected by such Issuing Bank. 
Each Issuing Bank shall be fully justified in failing or refusing to
take any action under this Agreement unless it shall first have received such
advice or concurrence of Required Lenders as it reasonably deems appropriate or
it shall first be indemnified to its reasonable 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. Notwithstanding any other
provision of this Section 2.4, each Issuing Bank shall in all cases be
fully protected in acting, or in refraining from acting, under this Agreement
in accordance with a request of Required Lenders, and such request and any
action taken or failure to act pursuant thereto shall be binding upon the
Lenders and any future holders of a participation in any Letter of Credit.

2.4.11                  Indemnification.  Each Lender severally agrees to indemnify
each Issuing Bank (to the extent not promptly reimbursed by the Borrowers) to
the extent of such Lender’s Percentage Interest from and against any and all
liabilities, obligations, losses, damages, penalties, actions, judgments,
suits, costs, expenses or disbursements of any kind or nature whatsoever that
may be imposed on, incurred by, or asserted against such Issuing Bank by reason
of or in connection with the issuance, execution and delivery or transfer of or
payment or failure to pay under any Letter of Credit or any actual or proposed
use of any Letter of Credit, including any claims, damages, losses,
liabilities, costs or expenses which any Issuing Bank may incur by reason of or
in connection with (a) the failure of any other Lender to fulfill or comply
with its obligations to any Issuing Bank hereunder (other than any other Lender’s
obligation to advance its Percentage Interest of any Revolving Credit Loan
under Section 2.4.6 in order to reimburse the applicable Issuing
Bank in respect of a payment made by such Issuing Bank upon a draft presented
and accepted under a Letter of Credit) (but nothing herein contained shall
affect any rights the Borrowers may have against any defaulting Lender) or (b)
by reason of or on account of any Issuing Bank issuing any Letter of Credit
which specifies that the term “Beneficiary” included therein includes any successor
by operation of law of the named Beneficiary, but which Letter of Credit does
not require that any drawing by any such successor Beneficiary be accompanied
by a copy of a legal document, satisfactory to the applicable Issuing Bank,
evidencing the appointment of such successor Beneficiary; provided that
the Borrowers shall not be required to indemnify any Lender, any Issuing 

 35
 

Bank or the
Agent for any claims, liabilities, obligations, losses, damages, penalties,
actions, judgments, suits, costs, expenses or disbursements, and no Lender
shall be liable for any portion of such claims, liabilities, obligations,
losses, damages, penalties, actions, judgments, suits, costs, expenses or
disbursements, resulting from such Issuing Bank’s gross negligence or willful
misconduct.  Without limitation of the
foregoing, each Lender agrees to reimburse any Issuing Bank promptly upon
demand for its Percentage Interest of any costs and expenses (including
reasonable fees and expenses of counsel) payable by the Borrowers under Sections
12.1 or 12.2 with respect to a Letter of Credit issued by such
Issuing Bank, to the extent that such Issuing Bank is not promptly reimbursed
for such costs and expenses by the Borrowers. 
The failure of any Lender to reimburse an Issuing Bank promptly upon
demand for its Percentage Interest of any amount required to be paid by the
Lender to such Issuing Bank as provided herein shall not relieve any other
Lender of its obligation hereunder to reimburse such Issuing Bank for its
Percentage Interest of such amount, but no Lender shall be responsible for the
failure of any other Lender to reimburse such Issuing Bank for such other
Lender’s Percentage Interest of such amount. 
Without prejudice to the survival of any other agreement of any Lender
hereunder, the agreement and obligations of each Lender contained in this Section
2.4.11 will survive the payment in full of principal, interest and all
other amounts payable hereunder and under the other Credit Documents.

2.4.12                  Rights as a
Lender or Agent.  In its capacity as
a Lender, the Agent and each Issuing Bank shall have the same rights and
obligations as any other Lender.  In its
capacity as the Agent, the Agent shall have all of the rights and obligations
of the Agent.

2.5 Application of Proceeds.

2.5.1                        Loans.  The Borrowers will apply the proceeds of the
Loans (a) to finance the VECO Acquisition, including the repayment of
existing Indebtedness of VECO and its subsidiaries, (b) to finance the [**],
(c) to pay fees and expenses incurred in connection with the Credit Documents,
the VECO Acquisition and the [**], and (d) to fund working capital and general
corporate purposes of the Borrowers and their Subsidiaries, including other
Permitted Acquisitions.

**Confidential Treatment
Requested.

2.5.2                        Letters
of Credit.  Letters of Credit will be
issued only for lawful corporate purposes related to a Borrower’s business as
the Parent has requested in writing.

2.5.3                        Specifically
Prohibited Applications.  The
Borrowers will not, directly or indirectly, apply any part of the proceeds of
any extension of credit made pursuant to the Credit Documents (a) to
purchase or to carry Margin Stock or (b) to any transaction prohibited by
Legal Requirements or by the Credit Documents.

2.6 Reserved.

2.7 Increase
in Commitments.

2.7.1                        Request
for Increase.  Provided there exists
no Default or Event of Default, or no Default or Event of Default would occur
as a result of such increase, upon notice to the Agent from the Parent’s Chief
Financial Officer (which shall promptly notify the Lenders), the Borrowers may
from time to time, request an increase in the Total Commitment in excess of the
initial Total Commitments of $500,000,000 by 

 36
 

an aggregate
amount (for all such requests) not exceeding $250,000,000 (the “Maximum
Increase”); provided that (a) any such request for an increase shall
be in a minimum amount of $50,000,000, (b) the Borrower may make a maximum of
three (3) such requests and (c) that the aggregate of all such requests
does not exceed $250,000,000.  At the
time of sending such notice, the Borrowers (in consultation with the Agent)
shall specify the time period within which each Lender is requested to respond
(which shall in no event be less than ten (10) Banking Days from the date of
delivery of such notice to the Lenders). 
Notwithstanding anything to the contrary in this Section 2.7,
the aggregate amount of the Maximum Increase shall automatically be reduced to
$100,000,000 (inclusive of all prior increases effected pursuant to this Section 2.7)
on the earlier of (a) June 30, 2008, if the VECO Acquisition has not been
consummated by such date, and (b) ten (10) Banking Days after the date the
Parent, on behalf of the Borrowers, delivers written notice to the Agent that
the VECO Purchase Agreement has been terminated without the VECO Acquisition
having been consummated.  To the extent
the aggregate amount of the Total Commitments has been increased prior to such
date pursuant to this Section 2.7 by more than $100,000,000, such reduction
shall have the effect of reducing the Total Commitment by the amount that the
sum of such prior increases of the Total Commitment pursuant to this Section 2.7
exceeds $100,000,000 (which reduction of the Total Commitment shall ratably
reduce each Lender’s Commitment), and the Borrowers shall, immediately after
and giving effect to such reduction, if necessary, make a principal payment to
the Agent for the account of the Lenders as required by Section 4.3.1.

2.7.2                        Lender
Elections to Increase.  Each Lender
shall notify the Agent within such time period whether or not it agrees to
increase its Commitment and, if so, whether by an amount equal to, greater
than, or less than its Percentage Interest of such requested increase.  Any Lender not responding within such time
period shall be deemed to have declined to increase its Commitment.

2.7.3                        Notification
by Agent; Additional Lenders.  The
Agent shall notify the Borrowers and each Lender of the Lenders’ responses to
each request made hereunder.  To achieve
the full amount of a requested increase and subject to the approval of the
Agent (which approvals shall not be unreasonably withheld), the Borrower may
also invite other Persons to become Lenders pursuant to a joinder agreement in
form and substance satisfactory to the Agent and its counsel.

2.7.4                        Effective
Date and Allocations.  If the Total
Commitment is increased in accordance with this Section 2.7.4, the
Agent and the Borrowers shall determine the effective date (the “Increase
Effective Date”) and the final allocation of such increase.  The Agent shall promptly notify the Borrowers
and the Lenders of the final allocation of such increase and the Increase
Effective Date.

2.7.5                        Conditions
to Effectiveness of Increase.  As a
condition precedent to such increase, the Borrowers shall (i) pay to the Agent
for the account of each Lender in accordance with its Percentage Interest, an
increase fee in an amount determined by the Agent following delivery by the
Borrowers of the increase request, and (ii) deliver to the Agent such fully
executed agreements, documents and instruments as may be reasonably requested
by the Agent in connection with such increase, together with a certificate
dated 

 37
 

as of the
Increase Effective Date signed by an Authorized Representative, (A) certifying
and attaching the resolutions adopted by each Borrower approving or consenting
to such increase, and (B) certifying that, before and after giving effect to
such increase, (I) the representations and warranties contained in Article
10, or otherwise made by or on behalf of any Obligor in the other Credit
Documents, are true and correct on and as of the Increase Effective Date,
except to the extent that such representations and warranties specifically
refer to an earlier date, in which case they are true and correct as of such
earlier date, and (II) no Default or Event of Default exists.  The Borrower shall prepay any Loans
outstanding on the Increase Effective Date (and pay any additional amounts
required hereunder) to the extent necessary to keep the outstanding Loans
ratable with any revised Percentage Interests arising from any non-ratable
increase in the Commitments under this Section 2.7.

2.7.6                        Conflicting
Provisions.  This Section 2.7
shall supersede any provisions in Sections 4.6  or
17 to the contrary.

2.8 Reduction in Commitments.  On the earlier of (a) June 30, 2008, if the
VECO Acquisition shall not have been consummated by such date, or (b) ten (10)
Banking Days after the date the Parent, on behalf of the Borrowers, delivers
written notice to the Agent that the VECO Purchase Agreement has been
terminated and the VECO Acquisition has not been consummated, the Maximum
Amount of Credit shall be immediately and automatically reduced to
$300,000,000, and the Borrowers shall, immediately after and giving effect to
such reduction, if necessary, make a principal payment to the Agent for the
account of the Lenders as required by Section 4.3.1

3.                                       Interest;
LIBOR Pricing Options; Fees; Changes in Circumstance; Yield Protection.

3.1 Interest. 
The Loans will accrue and bear interest at a rate per annum which will
at all times equal the Applicable Rate. 
Any Revolving Credit Loan consisting of Multicurrency LIBOR Loans will
have added to such Loan the MLA Cost associated with such Loans.  Prior to any stated or accelerated maturity
of a Loan, the Borrowers will, on each Interest Payment Date applicable to Base
Rate Loans, pay the accrued and unpaid interest on all Base Rate Loans.  On each Interest Payment Date applicable to a
LIBOR Loan, or on any earlier termination of any LIBOR Pricing Option
applicable to such LIBOR Loan, the Borrowers will pay the accrued and unpaid
interest on the portion of such Loan which was subject to the applicable LIBOR
Pricing Option.  On the conversion of a
LIBOR Loan to a Base Rate Loan or the conversion of a Base Rate Loan to a LIBOR
Loan, the Borrowers will pay the accrued and unpaid interest on the portion of
such Loan which is being converted.  On
the stated or any accelerated maturity of a Loan, the Borrowers will pay all
accrued and unpaid interest on such Loan, including any accrued and unpaid
interest on any portion of such Loan which is subject to a LIBOR Pricing
Option.  All payments of interest will be
made in the applicable Foreign Currency, in the case of Multicurrency LIBOR
Loans, and in United States Dollars, in the case of Base Rate Loans and Dollar
LIBOR Loans, in same day or immediately available funds, not later than 12:00
noon (Denver time) on the due date to the Agent at the Denver Office for the
account of each Lender in accordance with such Lender’s Percentage Interest; provided,
however, that at the request of the Agent, payments of interest on
Multicurrency LIBOR Loans will be made in the applicable Foreign Currency in
immediately available funds to such account at such bank as the Agent may 

 38
 

designate to the Parent, no later than 12:00 noon
(local time in the place where such bank is located) on the due date.

3.2 LIBOR Pricing Options.

3.2.1                        Election
of LIBOR Pricing Options.  Subject to
all terms and conditions of this Agreement and so long as no Default or Event
of Default exists, the Borrowers may from time to time, by irrevocable notice
given by an Authorized Representative to the Agent actually received not less
than three (3) Banking Days prior to the commencement of the Interest Period
selected in such notice, elect to have such portion of the Revolving Credit
Loans as the Parent may specify in such notice accrue and bear interest during
the Interest Period so selected at the Applicable Rate computed on the basis of
the LIBOR Rate.  In the event the
Borrowers at any time fail to elect a LIBOR Pricing Option under this Section 3.2.1
for any portion of the Revolving Credit Loans, then such portion of the
Revolving Credit Loans will accrue and bear interest at the Applicable Rate
computed on the basis of the Base Rate. 
No election of a LIBOR Pricing Option will become effective:

(a)          if, prior to the
commencement of any such Interest Period, the Agent determines that (i) as
a result of the adoption of or change in any Legal Requirement or in the
interpretation or application thereof after the Initial Closing Date, the
electing or granting of the LIBOR Pricing Option in question would be illegal,
(ii) LIBOR deposits in an amount comparable to the principal amount of the
Revolving Credit Loans as to which such LIBOR Pricing Option has been elected
and which have a term corresponding to the proposed Interest Period are not
readily available in the London interbank market, (iii) by reason of
circumstances affecting the London interbank market, adequate and reasonable
methods do not exist for ascertaining the interest rate applicable to such
deposits for the proposed Interest Period, or (iv) Revolving Credit Loans
cannot be made in the applicable Foreign Currency; or

(b)         if any Lender has advised
the Agent by telephone or otherwise at or prior to 11:00 a.m. (Denver time) on
the second Banking Day prior to the commencement of such proposed Interest
Period (and has subsequently confirmed in writing) that, after reasonable
efforts to determine the availability of such LIBOR deposits, such Lender
reasonably anticipates that LIBOR deposits in an amount equal to the Percentage
Interest of such Lender in the portion of the Revolving Credit Loans as to
which such LIBOR Pricing Option has been elected and which have a term
corresponding to the Interest Period in question will not be offered in the
London interbank market to such Lender at a rate of interest that does not
exceed the anticipated LIBOR Base Rate (unless the foregoing results from a
deterioration subsequent to the date hereof in the creditworthiness of such
Lender or a change in the availability of LIBOR markets to such Lender pursuant
to legal or regulatory restrictions).

If such notice
is given pursuant to Section 3.2.2 in connection with (a) or (b)
above, (i) any LIBOR Loans requested to be made on the first day of such
Interest Period shall be made as Base Rate Loans, (ii) any Base Rate Loans
that were to have been 

 39
 

converted on the first day of such Interest Period to, and LIBOR Loans
that were to have been continued as, LIBOR Loans shall be converted to or
continued as Base Rate Loans, and (iii) any outstanding LIBOR Loans shall
be converted, on the first day of such Interest Period, to Base Rate Loans.  Until such notice has been withdrawn by the
Agent, no further LIBOR Loans shall be made or continued as such, nor shall the
Borrowers have the right to convert Base Rate Loans to LIBOR Loans.  If such notice is given in connection with
any request for a Multicurrency LIBOR Loan, the requested Revolving Credit Loan
shall be made in United States Dollars.

3.2.2                        Notice
to Lenders and Borrowers.  The Agent
will promptly inform each Lender (by telephone or otherwise) of each notice
received by it from the Parent pursuant to Section 3.2.1 and of the
Interest Period specified in such notice. 
Upon determination by the Agent of the LIBOR Rate for such Interest
Period or in the event such election will not become effective, the Agent will
promptly notify the Parent and each Lender (by telephone or otherwise) of the
LIBOR Rate so determined or why such election did not become effective, as the
case may be.

3.2.3                        Selection
of Interest Periods for LIBOR Loans. 
Interest Periods will be selected so that:

(a)          no more than eighteen
(18) LIBOR Pricing Options will be outstanding at any time; and

(b)         no more than five (5)
Revolving Credit Loans consisting of Multicurrency LIBOR Loans having different
Interest Periods will be outstanding at any time.

3.2.4                        Additional
Interest.  If any LIBOR Loan is
repaid, or any LIBOR Pricing Option is terminated for any reason (including
acceleration of maturity), on a date which is prior to the last Banking Day of
the Interest Period applicable to such LIBOR Pricing Option, the Borrowers will
pay to the Agent for the account of each Lender in accordance with such Lender’s
Percentage Interest, in addition to any interest otherwise payable hereunder,
an amount equal to the present value (calculated in accordance with this Section 3.2.4)
of interest for the unexpired portion of such Interest Period on the portion of
any Revolving Credit Loans so repaid, or as to which a LIBOR Pricing Option was
so terminated, at a per annum rate equal to the excess, if any, of (a) the
rate applicable to such LIBOR Pricing Option minus (b) the rate of
interest obtainable by the Agent upon the purchase of debt securities
customarily issued by the Treasury of the United States which have a maturity
date approximating the last Banking Day of such Interest Period.  The present value of such additional interest
will be calculated by discounting the amount of such interest for each day in
the unexpired portion of such Interest Period from such day to the date of such
repayment or termination at a per annum interest rate equal to the interest
rate determined pursuant to clause (b) of the preceding sentence, and by adding
all such amounts for all such days during such period.  The determination by the Agent of such amount
of interest will, in the absence of manifest error, be conclusive.  For purposes of this Section 3.2.4,
if any portion of any Revolving Credit Loan which was to have been subject to a
LIBOR Pricing Option is not outstanding on the first day of the Interest Period
applicable to such LIBOR Pricing Option, other than for reasons 

 40
 

described in Sections 3.2.1(a)
and 3.2.1(b) or as a direct result of a Lender’s failure to make its
portion of such Revolving Credit Loan, the Borrowers will be deemed to have
terminated such LIBOR Pricing Option.

3.2.5                        Violation
of Legal Requirements.  If the
adoption of or change in any Legal Requirement or in the interpretation or
application thereof applicable to any Lender after the Initial Closing Date
prevents any Lender from funding or maintaining through the purchase of deposits
in the London interbank market any portion of the Revolving Credit Loans
subject to a LIBOR Pricing Option or otherwise from giving effect to such
Lender’s obligations as contemplated by Section 3.2, (a) the
Agent may by notice to the Borrowers terminate all of the affected LIBOR
Pricing Options, (b) the portion of the Revolving Credit Loans subject to
such terminated LIBOR Pricing Options shall immediately bear interest
thereafter at the Applicable Rate computed on the basis of the Base Rate, and
(c) the Borrowers shall make any payment required by Section 3.2.4.

3.2.6                        Funding
Procedure.  The Lenders may fund any
portion of the Revolving Credit Loans subject to a LIBOR Pricing Option out of
any funds available to the Lenders. 
Regardless of the source of the funds actually used by any of the
Lenders to fund any portion of the Revolving Credit Loans subject to a LIBOR
Pricing Option, however, all amounts payable hereunder, including the interest
rate applicable to any such portion of the Revolving Credit Loans and the
amounts payable under Sections 3.2.4 and 3.5, will be
computed as if each Lender had actually funded such Lender’s Percentage
Interest in such portion of the Revolving Credit Loans through the purchase of
deposits in such amount of the type by which the LIBOR Base Rate was
determined, with a maturity the same as the applicable Interest Period relating
thereto and through the transfer of such deposits from an office of the Lender
having the same location as the applicable LIBOR Office to one of such Lender’s
offices in the United States.

3.2.7                        Interest
Rate Limitation.  Notwithstanding
anything herein to the contrary, if at any time the Applicable Rate applicable
to any Loan, together with all fees, charges and other amounts that are treated
as interest on such Loan under Applicable Law (collectively, the “Charges”),
shall exceed the maximum lawful rate (the “Maximum Rate”) that may be
contracted for, charged, taken, received or reserved by a Lender in accordance
with Applicable Law, the rate of interest payable in respect of such Loan
hereunder, together with all Charges payable in respect thereof, shall be
limited to the Maximum Rate and, to the extent lawful, the interest and Charges
that would have been payable in respect of such Loan but were not payable as a
result of the operation of this Section 3.2 shall be cumulated and
the interest and Charges payable to such Lender in respect of other Loans or
periods shall be increased (but not above the Maximum Rate therefor) until such
cumulated amount, together with interest thereon at the Federal Funds Rate to
the date of repayment, shall have been received by such Lender.

3.3
Fees.

3.3.1                        Unused
Line Fee.  The Borrowers shall pay
the Agent for the account of the Lenders in accordance with the Lenders’
respective Commitments, in arrears on the last Banking Day of each calendar
quarter, for the period from the date of this Agreement to the Final Maturity
Date, an unused line fee equal to the Unused Line Percentage of the 

 41
 

average
Available Credit, calculated daily, without taking into consideration any
outstanding Swing Loan, during such calendar quarter or portion thereof.  Payment may, in the Agent’s discretion, be
made by automatic deduction from the Parent’s general account with the Agent
(and the Parent hereby expressly authorizes each such automatic deduction), and
the Agent will notify the Parent of the amount of the fee.

3.3.2                        Letter
of Credit Fees.  The Borrowers shall
pay to the Agent for the benefit of the Lenders, in arrears on the last Banking
Day of each calendar quarter, a Letter of Credit issuance fee (which shall be
non-refundable even if any Letter of Credit is terminated or canceled before
its stated expiration date) equal to the average daily amount, during such
calendar quarter, of the aggregate undrawn amount of all outstanding Letters of
Credit, giving effect to all increases and decreases thereof pursuant to the
terms of each such Letter of Credit (the “Undrawn Amount”), multiplied
by the Applicable LIBOR Margin per annum; provided, however, that
if the Undrawn Amount of a Letter of Credit is reduced during any quarter to an
amount that exceeds $0.00, the fees payable for such quarter shall be payable
as if such reduction had not been made and thereafter such fees shall be
reduced pro rata as a result of such reduction. 
The Borrowers will pay to the applicable Issuing Bank, for its own
account, fees upon the occurrence of certain activity with respect to any
Letter of Credit, including the transfer, cancellation or amendment of any Letter
of Credit, determined in accordance with such Issuing Bank’s standard fees and
charges then in effect.

3.3.3                        Administrative
Fees.  The Borrowers agree to pay to
the Agent, for its own account, the fees in accordance with the terms of the
Fee Letter.

3.4
Computations of Interest and Fees. 
For purposes of this Agreement, interest (except interest on
Multicurrency LIBOR Loans), commitment fees and Letter of Credit fees (and any
other amount expressed as interest or such fees) will be computed on the basis
of a 360-day year for actual days elapsed. 
For purposes of this Agreement, interest on Multicurrency LIBOR Loans
will be computed on the basis of a 365- or 366-day year for actual days
elapsed.  Except as provided in the
definition of Interest Period with respect to LIBOR Loans, if any payment
required by this Agreement is due on a day that is not a Banking Day, such
payment will be made on the next succeeding Banking Day and such extension of
time will be included in the computation of interest and fees.

3.5
Changes in Circumstances; Yield Protection.

3.5.1                        Reserve
Requirements, Etc.  If the adoption
or change in any Legal Requirement or in the interpretation or application
thereof applicable to any Lender, or compliance by any Lender with any request or
directive (whether or not having the force of law) from any central bank or
other Governmental Authority, in each case made subsequent to the Initial
Closing Date, shall (a) impose, modify, increase or deem applicable any
insurance assessment, reserve, special deposit or similar requirement against
any Funding Liability or the Letters of Credit, (b) impose, modify,
increase or deem applicable any other requirement or condition with respect to
any Funding Liability or the Letters of Credit, or (c) change the basis of
taxation of Funding Liabilities or payments in respect of any Letter of Credit
(other than changes in the rate of Taxes measured by the overall net income of
such Lender) and the effect of any of the foregoing 

 42
 

shall be to
increase the cost to any Lender of issuing, making, funding or maintaining its
respective Percentage Interest in any portion of the Revolving Credit Loans
subject to a LIBOR Pricing Option or any Letter of Credit, to reduce the
amounts received or receivable by such Lender under this Agreement or to
require such Lender to make any payment or forego any amounts otherwise payable
to such Lender under this Agreement (other than any Tax or any reserves that
are included in computing the LIBOR Reserve Rate), then such Lender may claim
compensation from the Borrowers under Section 3.5.5.

3.5.2                        All
payments of the Credit Obligations will be made without set-off or counterclaim
and free and clear of any deductions, including deductions for Taxes, unless
the Borrowers are required by law to make such deductions.  If (a) any Lender is subject to any Tax
with respect to any payment of the Credit Obligations or its obligations
hereunder, or (b) the Borrowers are required to withhold or deduct any Tax
on any payment on the Credit Obligations, then such Lender may claim
compensation from the Borrowers under Section 3.5.5.  Whenever Taxes must be withheld by the
Borrowers with respect to any payments of the Credit Obligations, the Borrowers
will promptly furnish to the Agent for the account of the applicable Lender
official receipts (to the extent that the relevant governmental authority
delivers such receipts) evidencing payment of any Taxes so paid.  If the Borrowers fail to pay any such Taxes
when due or fail to remit to the Agent for the account of the applicable Lender
the required receipts evidencing payment of any such Taxes so withheld or
deducted, the Borrowers shall indemnify the affected Lender for any incremental
Taxes and interest or penalties that may become payable by such Lender as a
result of any such failure.  If any
Lender receives a refund of any Taxes for which it has received payment from
the Borrowers under this Section 3.5.2, such Lender shall promptly
pay the amount to the Borrowers, together with any interest thereon actually
earned by such Lender.  Each Lender
agrees that it will deliver to the Parent and the Agent, upon the reasonable
request of the Parent or the Agent, either (i) a statement that it is
incorporated under the laws of the United States or a state thereof, or
(ii) if it is not so incorporated, two (2) duly completed copies of the
applicable United States Internal Revenue Service forms, certifying that such
Lender is entitled to receive payments under this Agreement without deduction
or withholding of any United States federal income taxes.

3.5.3                        Capital
Adequacy.  If any Lender determines
that the adoption or becoming effective of, or any change in, or any change by
any central bank or other Governmental Authority in the interpretation or
administration of any Legal Requirement regarding capital adequacy of banks or
bank holding companies, or the compliance by such Lender or its parent
corporation, with any request or directive regarding capital adequacy (whether
or not having the force of law) of any such central bank or Governmental
Authority, has or would have the effect of reducing the rate of return on the
capital of such Lender and its Affiliates as a consequence of such Lender’s
commitment to make the extensions of credit contemplated hereby, or such Lender’s
maintenance of the extensions of credit contemplated hereby, to a level below
that which such Lender could have achieved but for such compliance (taking into
consideration the policies of such Lender and its Affiliates with respect to
capital adequacy immediately before such compliance and assuming that the
capital of such Lender and its Affiliates 

 43
 

was fully
utilized prior to such compliance) by an amount deemed by such Lender to be
material, then such Lender may claim compensation from the Borrowers under Section 3.5.5.

3.5.4                        Regulatory
Change.  If any Lender determines
that (a) any change in any Legal Requirement (including any new Legal
Requirement) after the date hereof will directly or indirectly (i) reduce
the amount of any sum receivable by such Lender with respect to the Loans or
the Letters of Credit or the return to be earned by such Lender on the Loans or
the Letters of Credit, (ii)  impose a cost on such Lender or any Affiliate
of such Lender that is attributable to the making or maintaining of, or such
Lender’s commitment to make, its portion of the Loans or the Letters of Credit,
or (iii) require any Lender or any Affiliate of such Lender to make any
payment on, or calculated by reference to, the gross amount of any amount
received by such Lender under any Credit Document (other than Taxes or income
or franchise taxes), and (b) such increased cost or payment will not be
fully compensated for by an adjustment in the Applicable Rate or the Letter of
Credit fees, then such Lender may claim compensation from the Borrowers under Section 3.5.5.

3.5.5                        Compensation
Claim.  Within fifteen (15) days
after the receipt by the Parent of a certificate from any Lender setting forth
why it is claiming compensation under Section 3.5 and computations
(in reasonable detail) of the amount thereof and a description of such Lender’s
efforts to mitigate such amounts as required by Section 3.5.6, the
Borrowers will pay to such Lender such additional amounts as such Lender sets
forth in such certificate as sufficient fully to compensate it on account of
the foregoing provisions of Section 3.5 together with interest on
such amount from the fifteenth (15th) day after receipt of such certificate
until payment in full thereof at the Base Rate. 
The determination by such Lender of the amount to be paid to it and the
basis for computation will, in the absence of manifest error, be
conclusive.  In determining such amount,
such Lender may use any reasonable averaging and attribution methods.  The Borrowers will be entitled to replace any
such Lender in accordance with Section 3.5.7.

3.5.6                        Mitigation.  Each Lender will take such commercially
reasonable steps as it may determine are not materially disadvantageous to it,
including changing lending offices to the extent feasible, in order to reduce
amounts otherwise payable by the Borrowers to such Lender pursuant to Sections 3.2.4
and 3.5 or to make LIBOR Pricing Options available under Sections 3.2.1
and 3.2.5.  In addition, the
Borrowers will not be responsible for costs (a) under Section 3.5,
arising more than ninety (90) days prior to receipt by the Parent of the
certificate from the affected Lender pursuant to Section 3.5.5 or
(b) under Section 3.2.4, arising from the termination of LIBOR
Pricing Options more than ninety (90) days prior to the demand by the Agent for
payment under Section 3.2.4.

3.5.7                        Replacement
of Lenders.  On each occasion that a
Lender either makes a demand for compensation pursuant to Section 3.5.5
in an amount in excess of the amount that the Borrowers would have had to pay
pursuant to such Section 3.5.5 if such Lender’s Commitment were
held by Wells Fargo or is unable to fund or maintain LIBOR Loans pursuant to Section 3.2.1,
the Borrowers may, upon at least ten (10) Banking Days’ prior written notice to
each of such Lender and the Agent, in whole permanently replace the 

 44
 

Commitment of
such Lender; provided, however, that the Borrowers will replace such Commitment with the
commitment of a commercial bank which is reasonably satisfactory to the
remaining Lenders (a “Replacement Lender”).  Such Replacement Lender will upon the
effective date of replacement purchase the Credit Obligations owed to such
replaced Lender for the aggregate amount thereof and will thereupon for all
purposes become a “Lender” hereunder. 
Such notice from the Borrowers will specify an effective date for the
replacement of such Lender’s Commitment, which date will not be earlier than
the tenth day after the day such notice is given.  On the effective date of any replacement of
such Lender’s Commitment pursuant to this Section 3.5.7, the
Borrowers will pay to the Agent for the account of such Lender (i) any
amounts due to such Lender to the date of such replacement, (ii) accrued
interest on the principal amount of outstanding Base Rate Loans and LIBOR Loans
made by such Lender to the date of such replacement, and (iii) the amounts
payable to such Lender pursuant to Sections 3.2.4 and 3.5,
as applicable.  The Borrowers will be
liable to such replaced Lender for costs that such Lender may sustain or incur
pursuant to Section 3.5.2 as a direct consequence of repayment of
such Lender’s Percentage Interest of the aggregate principal amount of the
Loans.  Upon the effective date of
repayment of any Lender’s Commitment pursuant to this Section 3.5.7,
such Lender will cease to be a “Lender” hereunder.  No such termination of any such Lender’s
Commitment and the purchase of such Lender’s Percentage Interest of the
aggregate principal amount of the Loans pursuant to this Section 3.5.7
will affect (x) any liability or obligation of the Borrowers or any other
Lender to such terminated Lender which accrued on or prior to the date of such
termination, or (y) such terminated Lender’s rights hereunder in respect
of any such liability or obligation.

4.                                       Payment.

4.1
Payment at Maturity.  On the Final
Maturity Date or any accelerated maturity of the Loans, the Borrowers will pay
to the Agent for the account of the Lenders an amount equal to the aggregate
outstanding principal amount of the Loans then due, together with all accrued
and unpaid interest and fees with respect thereto and all other Credit
Obligations then outstanding.

4.2
Voluntary Reductions and Prepayments.

4.2.1                        Voluntary
Permanent Reduction or Termination. 
The Borrowers may, through the Parent’s Chief Financial Officer and upon
at least five (5) Banking Days’ prior written notice to the Agent, terminate in
whole or permanently reduce in part, as of the date specified in the notice,
any then unused portion of the Total Commitment, provided that each
partial reduction shall be in the minimum principal amount of $2,000,000 (and
an integral multiple of $500,000).  Any
partial reduction shall ratably reduce each Lender’s Commitment.

4.2.2                        Voluntary
Prepayments.  The Borrowers may from
time to time prepay all or any portion of the outstanding principal amount of
the Loans, together with accrued interest thereon, in a minimum amount of (a)
in the case of Base Rate Loans, $1,000,000 and an integral multiple of
$100,000, or such lesser amount as is then outstanding, and (b) in the case of
Dollar LIBOR Loans, $2,000,000 and an integral multiple of $500,000, or such
lessor amount as is then outstanding, or in the case of Multicurrency LIBOR

 45

Loans, the
U.S. Dollar Equivalent thereof, in each case, without premium or penalty of any
type (except as provided in Section 3.2.4 with respect to the early
termination of LIBOR Pricing Options). 
The Parent will give the Agent prior notice of the Borrowers’ intention
to prepay a Base Rate Loan not later than 11:00 a.m. (Denver time) on the
Banking Day on which the Borrowers intend to make such prepayment, and prior
notice of the Borrowers’ intention to prepay a LIBOR Loan other than a
Multicurrency LIBOR Loan at least three (3) Banking Days prior to the Banking
Day on which the Borrowers intend to make such prepayment, and prior notice of
the Borrowers’ intention to prepay a Multicurrency LIBOR Loan at least four (4)
Banking Days prior to the Banking Day on which the Borrowers intent to make
such prepayment, in each case specifying the date of payment, the total amount
of the Base Rate Loan or LIBOR Loan to be paid on such date and the amount of
interest to be paid with such prepayment.

4.3         Mandatory
Prepayments.

4.3.1                        Certain Mandatory
Prepayments.  If at any time the
aggregate outstanding principal amount of all Revolving Credit Loans, plus
the aggregate outstanding principal amount of all Swing Line Loans, plus
the Letter of Credit Exposure exceeds the Maximum Amount of Credit, the
Borrowers shall immediately make a principal payment to the Agent for the
account of the Lenders in an amount sufficient to reduce the aggregate
outstanding principal amount of all Revolving Credit Loans, plus the
aggregate outstanding principal amount of all Swing Line Loans, plus the
Letter of Credit Exposure to less than or equal to the Maximum Amount of
Credit.  If at any time the aggregate
outstanding Converted Principal Amount or the Dollar Equivalent of the
Multicurrency LIBOR Loans plus the Letter of Credit Exposure related to
Letters of Credit issued in currencies other than United States Dollars exceeds
$250,000,000, the Borrowers shall immediately make a principal payment to the
Agent for the account of the Lenders, in the applicable currencies other than
United States Dollars, in an amount sufficient to reduce the Converted
Principal Amount and the U.S. Dollar Equivalent of the Multicurrency LIBOR
Loans plus the Letter of Credit Exposure related to Letters of Credit issued
in currencies other than United States Dollars to less than or equal to
$250,000,000.  If at any time the
aggregate outstanding principal amount of the Swing Line Loans exceeds
$25,000,000, the Borrowers shall immediately make a principal payment to the
Agent for the account of the Swing Line Lender in an amount sufficient to
reduce the Swing Line Loans to less than or equal to $25,000,000.  If at any time the Letter of Credit Exposure
exceeds the Maximum Amount of Credit, the Borrowers shall immediately deposit
with each applicable Issuing Bank in cash or Cash Equivalents an amount equal
to 105% of the then Letter of Credit Exposure related to each Letter of Credit
issued by such Issuing Bank.

4.3.2                        Issuance of Equity
Securities.  Upon any issuance or sale
of equity securities by a Borrower or a Guarantor (other than those equity
securities issued (i) pursuant to a bonus or incentive program, (ii) to
another Borrower or Subsidiary thereof, (iii) to an employee, director or
consultant of a Borrower, Subsidiary thereof or an Affiliate thereof or
(iv) to any benefit plans established for an employee, director or
consultant of a Borrower, Subsidiary thereof or an Affiliate thereof ((i)
through (iv), 

 46
 

“Excluded Equity”)), the Borrowers shall immediately prepay the
Loans in an amount equal to the lesser of (a) the outstanding principal
amount of the Loans and (b) an amount equal to 100% of the Net Cash Proceeds of
such issuance or sale.

4.3.3                        Asset Dispositions.  Upon receipt of Net Cash Proceeds from any
Asset Disposition, the Borrowers shall immediately prepay the Loans in an
amount equal to the lesser of (a) the outstanding principal amount of the Loans
and (b) an amount equal to 100% of the Net Cash Proceeds of such Asset
Disposition, to the extent that such Net Cash Proceeds, when aggregated with
the Net Cash Proceeds of all Asset Dispositions consummated during any single
fiscal year of the Parent exceed $50,000,000; provided that the Net Cash
Proceeds of such Asset Disposition shall not be required to be so applied if
such Net Cash Proceeds are reinvested in new assets in such Borrower’s or such
Guarantor’s business within 365 calendar days of the consummation of such Asset
Disposition); provided further that to the extent such Net Cash Proceeds
have not been reinvested within such 365 calendar day period, the Borrowers
shall, immediately upon the expiration of such 365 calendar day period,
reinvest such Net Cash Proceeds or make an immediate prepayment of the Loans
pursuant to this Section 4.3.3. 
Notwithstanding the foregoing, no prepayment shall be required pursuant
to this Section 4.3.3 in connection with the Synthetic Lease
Termination.

4.4                                 Letters
of Credit.  If, on the Final Maturity
Date or any accelerated maturity of the Credit Obligations, the Lenders will be
obligated in respect of a Letter of Credit or a draft accepted under a Letter
of Credit, the Borrowers will either:

(a)          prepay such obligation by depositing with the
applicable Issuing Bank an amount of cash; or

(b)         deliver to the applicable Issuing Bank a
standby letter of credit (designating the applicable Issuing Bank as
beneficiary and issued by a bank and on terms reasonably acceptable to the
applicable Issuing Bank); or

(c)          deliver to the applicable Issuing Bank such
other collateral as is acceptable to such Issuing Bank;

in each case in an amount equal to 105% of the Letter
of Credit Exposure related to each such Letter of Credit at such date.  The applicable Issuing Bank will notify the
Agent in writing promptly of the deposit of such cash or collateral or the
delivery of such standby letter of credit. 
Upon the receipt of such notice, each such Letter of Credit will
automatically be deemed to no longer be a Letter of Credit hereunder, the
related reimbursement obligations shall cease to be Credit Obligations, and all
obligations of each Lender under this Agreement with respect to each such
Letter of Credit will automatically be deemed to be released and terminated.
Any such cash so deposited and the cash proceeds of any draw under any letter
of credit so furnished, including any interest thereon, will be returned by the
applicable Issuing Bank to the Borrowers only when, and to the extent that, the
amount of such cash held by the applicable Issuing Bank exceeds 105% of the
Letter of Credit Exposure related to each such Letter of Credit at such time
and all other Credit Obligations have been paid in full.

 47
 

4.5                                 Reborrowing;
Application of Payments, Etc.

4.5.1                        Reborrowing.  The amounts of the Revolving Credit Loans or
Swing Line Loans prepaid pursuant to Section 4.2.2 may be
reborrowed from time to time prior to the Final Maturity Date in accordance
with Section 2, subject to the limits set forth therein.

4.5.2                        Order of Application.  Any prepayment of the Revolving Credit Loans
or the Swing Line Loans will be applied first to the outstanding principal
balance of the Revolving Credit Loans or Swing Line Loans not then subject to
LIBOR Pricing Options, then the balance of any such prepayment will be applied
to the outstanding principal balance of the Revolving Credit Loans then subject
to LIBOR Pricing Options, in the chronological order of the respective
maturities thereof (or as an Authorized Representative may otherwise specify in
writing), together with any payments required by Section 3.2.4.  Any such prepayment must be accompanied by
accrued and unpaid interest on the amount prepaid.

4.5.3                        Principal Payments.  All payments of principal hereunder will be
made to the Agent at the Denver Office for the account of the Lenders, in the
applicable Foreign Currency, in the case of Multicurrency LIBOR Loans, or in
United States Dollars, in the case of Base Rate Loans and Dollar LIBOR Loans,
in same day or immediately available funds not later than 12:00 noon (Denver
time) on the date due; provided, however, that at the request of
the Agent, payments of principal on Multicurrency LIBOR Loans will be made in
the applicable Foreign Currency in immediately available funds to such account
at such bank as the Agent may designate to the Parent from time to time, no
later than 12:00 noon local time in the place where such bank is located on the
due date.

4.6                                 Sharing
of Payments, Etc.  If any Lender
obtains at any time any payment (whether voluntary, involuntary, through the
exercise of any right of set-off, or otherwise) (a) on account of Credit
Obligations due and payable to such Lender hereunder and under the Revolving
Credit Notes at such time in excess of its ratable share (according to the
proportion of (i) the amount of such Credit Obligations due and payable to
such Lender at such time to (ii) the aggregate amount of the Credit
Obligations due and payable to all Lenders hereunder and under the Revolving
Credit Notes at such time) of payments on account of the Credit Obligations due
and payable to all Lenders hereunder and under the Revolving Credit Notes at
such time obtained by all the Lenders at such time or (b) on account of
Credit Obligations owing (but not due and payable) to such Lender hereunder and
under the Revolving Credit Notes at such time in excess of its ratable share
(according to the proportion of (i) the amount of such Credit Obligations
owing (but not due and payable) to such Lender at such time to (ii) the
aggregate amount of the Credit Obligations owing (but not due and payable) to
all Lenders hereunder and under the Revolving Credit Notes at such time) of
payments on account of the Credit Obligations owing (but not due and payable)
to all Lenders hereunder and under the Revolving Credit Notes at such time
obtained by all of the Lenders at such time, such Lender will forthwith
purchase from the other Lenders such participations in the Credit Obligations
due and payable or owing (but not due and payable) to them, as the case may be,
as will be necessary to cause such purchasing Lender to share the excess
payment ratably with each of them; provided, however, that if all
or any portion of such excess payment is thereafter recovered from such
purchasing Lender, such purchase from each other Lender will be rescinded and
each such other Lender will repay to the purchasing Lender the purchase price
to the extent of such Lender’s ratable share (according to the proportion of
(i) the purchase price paid to such Lender to (ii) the aggregate
purchase price paid 

 48
 

to all Lenders) of such recovery together with an
amount equal to such Lender’s ratable share (according to the proportion of
(i) the amount of such other 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.  The Borrowers agree that
any Lender so purchasing a participation from another Lender pursuant to this Section 4.6
may, to the fullest extent permitted by law, exercise all of its rights of
payment (including the right of set-off) with respect to such participation as
fully as if such Lender were the direct creditor of the Borrowers in the amount
of such participation.

4.7
Records.  Each Lender is
authorized but not required to record the date and amount of each advance made
by it hereunder, under its Note, as applicable, if any, or under any other
Credit Documents, the date and amount of each payment or prepayment of
principal and interest thereunder, and the resulting unpaid principal balance
thereof, as well as the amount of the Letters of Credit made by such Lender as
an Issuing Bank, in such Lender’s internal records, and any such recordation
shall be prima facie evidence of the accuracy of the information so recorded; provided,
however, that any Lender’s failure to so record shall not limit or
otherwise affect the Borrowers’ obligations hereunder or thereunder or
hereunder to repay the unpaid principal and interest outstanding hereunder or
thereunder or any amount owing with respect to Letters of Credit, and, in all
events, the principal amounts owing by the Borrowers hereunder or thereunder
and all amounts owing with respect to Letters of Credit shall be the aggregate
amount of all Loans made by the Lenders (less all payments of principal thereof
made by the Borrowers) and all reimbursement obligations under all Letters of
Credit.

5.                                       Appointment
of the Parent; Authorized Representatives.

In order to facilitate and ensure prompt and accurate
communication between the Borrowers and the Lenders, the Borrowers hereby
appoint the Parent as the Borrowers’ agent for purposes of communicating to and
receiving communications from the Agent and the Lenders.  On the Initial Closing Date, and from time to
time subsequent thereto at the Parent’s option, the Parent will deliver to the
Agent a written notice in the form of Exhibit 5, which designates
by name each Authorized Representative and includes each of their respective
specimen signatures (each, a “Notice of Authorized Representatives”).  The Agent will be entitled to rely
conclusively on the authority of each officer or employee designated as an
Authorized Representative in the most current Notice of Authorized
Representatives delivered by the Parent to request borrowings and select
interest rate options hereunder, and to give to the Agent such other notices as
are specified herein as being made through an Authorized Representative, until
such time as the Parent has delivered to the Agent, and the Agent has actual
receipt of, a new written Notice of Authorized Representatives.  The Agent will have no duty or obligation to
the Borrowers to verify the authenticity of any signature appearing on any
written notice from an Authorized Representative or to verify the authenticity
of any Person purporting to be an Authorized Representative giving any
telephone notice permitted hereby.

6.                                       Subsidiary
Guarantors.

Subject
to Section 8.3 as to VECO in connection with the consummation of
the VECO Acquisition, if a Subsidiary becomes a Material Subsidiary or if a new
Material Subsidiary is formed or acquired, directly or indirectly, by the
Parent, the Parent shall, within thirty (30) days after such event, do or cause
to be done such acts as may be reasonably be necessary or proper to 

 49
 

cause such Material Subsidiary to be joined as and
become a Guarantor under the Subsidiary Guarantee and the other Credit
Documents to which Material Subsidiaries are parties for all purposes hereunder
and thereunder, including causing such Material Subsidiary to execute and
deliver to the Agent a joinder to the Subsidiary Guarantee pursuant to which
such Material Subsidiary shall guaranty, on a joint and several basis, the
payment in full in cash of the Credit Obligations on the terms and conditions
set forth in the Subsidiary Guarantee. 
Notwithstanding the foregoing, and if any Subsidiary that has been a
Material Subsidiary ceases to be a Material Subsidiary for a period of twelve
(12) consecutive months and if no Event of Default has occurred and is
continuing, such Subsidiary shall be removed as a party to the Subsidiary
Guarantee.

7.                                       Relationship
Among Borrowers.

7.1                                 JOINT
AND SEVERAL LIABILITY.  EACH BORROWER
AGREES THAT IT IS LIABLE, JOINTLY AND SEVERALLY WITH EACH OTHER BORROWER, FOR
THE PAYMENT OF ALL OBLIGATIONS OF THE BORROWERS UNDER THIS AGREEMENT (INCLUDING
THE CREDIT OBLIGATIONS), AND THAT THE LENDERS AND THE AGENT CAN ENFORCE SUCH
OBLIGATIONS AGAINST ANY OR ALL BORROWERS, IN THE LENDERS’ OR THE AGENT’S SOLE
AND UNLIMITED DISCRETION.

7.2                                 Waivers
of Defenses.  The obligations of the
Borrowers hereunder shall not be released, in whole or in part, by any action
or thing which might, but for this provision of this Agreement, be deemed a
legal or equitable discharge of a surety or guarantor, other than irrevocable
payment and performance in full of the Credit Obligations (except for
contingent indemnity and other contingent Credit Obligations not yet due and
payable) at a time after any obligation of the Lenders hereunder to make any
Loans and of any Issuing Bank to issue Letters of Credit shall have expired or
been terminated and all outstanding Letters of Credit shall have expired or the
liability of the Issuing Bank thereon shall have otherwise been
discharged.  The purpose and intent of this
Agreement is that the Credit Obligations constitute the direct and primary
obligations of each Borrower and that the covenants, agreements and all
obligations of each Borrower hereunder be absolute, unconditional and
irrevocable.  Each Borrower shall be and
remain liable for any deficiency remaining after foreclosure of any mortgage,
deed of trust or security agreement securing all or any part of the Credit
Obligations, whether or not the liability of any other Person for such
deficiency is discharged pursuant to statute, judicial decision or
otherwise.  Except as otherwise expressly
provided herein, each Borrower hereby waives notice of acceptance of its joint
and several liability, notice of any and all Loans or Letters of Credit under
this Agreement, notice of occurrence of any Default or Event of Default (except
to the extent notice is expressly required to be given pursuant to the terms of
this Agreement or any of the other Credit Documents), or of any demand for any
payment under this Agreement, notice of any action at any time taken or omitted
to be taken by the Agent or any Lender or under or in respect of any of the
Credit Obligations, any requirement of diligence and, generally, all demands,
notices and other formalities of every kind in connection with this Agreement
and the other Credit Documents.  Each
Borrower hereby waives all defenses which may be available by virtue of any
valuation, stay, moratorium law or other similar law now or hereafter in
effect, any right to require the marshaling of assets of the Borrowers and any
other entity or Person primarily or secondarily liable with respect to any of
the Credit Obligations, and all suretyship defenses generally.  Each Borrower hereby assents to, and waives
notice of, any extension or 

 50
 

postponement of the time for the payment, or place or
manner for payment, compromise, refinancing, consolidation or renewals of any
of the Credit Obligations of any other Obligor, the acceptance of any partial
payment thereon, any waiver, consent or other action or acquiescence by the
Agent or any Lender at any time or times in respect of any default by any other
Obligor in the performance or satisfaction of any term, covenant, condition or
provision of this Agreement and the other Credit Documents of any other
Obligor, any and all other indulgences whatsoever by the Agent or any Lender in
respect of any of the Credit Obligations, and the taking, addition,
substitution or release, in whole or in part, at any time or times, of any
security for any of such Credit Obligations or the addition, substitution or
release, in whole or in part, of any other Obligor or any other Person
primarily or secondarily liable for any Credit Obligations.  Such Borrower further agrees that its Credit
Obligations shall not be released or discharged, in whole or in part, or otherwise
affected by the adequacy of any rights which the Agent or any Lender may have
against any collateral security or other means of obtaining repayment of any of
the Credit Obligations, the impairment of any collateral security securing the
Credit Obligations, including the failure to protect or preserve any rights
which the Agent or any Lender may have in such collateral security or the
substitution, exchange, surrender, release, loss or destruction of any such
collateral security, any other act or omission which might in any manner or to
any extent vary the risk of such Borrower, or otherwise operate as a release or
discharge of such Borrower, all of which may be done without notice to such
Borrower; provided, however, that the foregoing shall in no way be
deemed to create commercially unreasonable standards as to the Agent’s duties
as secured party under the Credit Documents (as such rights and duties are set
forth therein).

7.3                                 Other
Transactions.  The Lenders and the
Agent are expressly authorized to exchange, surrender or release with or
without consideration any or all collateral and security which may at any time
be placed with it by the Borrowers or by any other Person on behalf of the
Borrowers, or to forward or deliver any or all such collateral and security
directly to the Borrowers for collection and remittance or for credit.  No invalidity, irregularity or
unenforceability of any security for the Credit Obligations or other recourse
with respect thereto shall affect, impair or be a defense to the Borrowers’
obligations under this Agreement. The liabilities of each Borrower hereunder
shall not be affected or impaired by any failure, delay, neglect or omission on
the part of any Lender or the Agent to realize upon any of the Credit
Obligations of any other Borrower to the Lenders or the Agent, or upon any
collateral or security for any or all of the 
Credit Obligations, nor by the taking by any Lender or the Agent of (or
the failure to take) any guaranty or guaranties to secure the Credit Obligations,
nor by the taking by any Lender or the Agent of (or the failure to take or the
failure to perfect its security interest in or other Lien on) collateral or
security of any kind.  No act or omission
of any Lender or the Agent, whether or not such action or failure to act varies
or increases the risk of, or affects the rights or remedies of a Borrower,
shall affect or impair the obligations of the Borrowers hereunder.

7.4                                 Actions
Not Required.  Each Borrower, to the
extent permitted by Applicable Law, hereby waives any and all right to cause a
marshaling of the assets of any other Borrower or any other action by any court
or other governmental body with respect thereto or to cause any Lender or the
Agent to proceed against any security for the Credit Obligations or any other
recourse which any Lender or the Agent may have with respect thereto and
further waives any and all requirements that any Lender or the Agent institute
any action or proceeding at law or in equity, or obtain any judgment, against
any other Borrower or any other Person, or with respect to any 

 51
 

collateral security for the Credit Obligations, as a
condition precedent to making demand on or 
bringing an action or obtaining and/or enforcing a judgment against,
such Borrower under this Agreement.

7.5                                 No
Subrogation.  Notwithstanding any
payment or payments made by any Borrower hereunder or any setoff or application
of funds of any Borrower by any Lender or the Agent, such Borrower shall not be
entitled to exercise any rights to be subrogated to any of the rights of any
Lender or the Agent against any other Borrower, any Guarantor or any other
guarantor or any collateral security or guaranty or right of offset held by any
Lender or the Agent for the payment of the Credit Obligations, nor shall such
Borrower seek or be entitled to seek any contribution or reimbursement from any
other Borrower or any other guarantor in respect of payments made by such
Borrower hereunder, until all amounts owing to the Lenders and the Agent by the
Borrowers on account of the Credit Obligations are irrevocably paid in
full.  If any amount shall be paid to a
Borrower on account of such subrogation rights at any time when all of the
Credit Obligations shall not have been irrevocably paid in full, such amount
shall be held by that Borrower in trust for the Lenders and the Agent,
segregated from other funds of that Borrower, and shall, forthwith upon receipt
by the Borrower, be turned over to the Agent in the exact form received by the
Borrower (duly indorsed by the Borrower to the Agent, if required), to be
applied against the Credit Obligations, whether matured or unmatured, in such
order as the Agent may determine.

7.6                                 Application
of Payments.  Except as provided in Section
4.5.2, any and all payments upon the Credit Obligations made by the
Borrowers or by any other Person, and/or the proceeds of any or all collateral
or security for any of the Credit Obligations, may be applied by the Lenders on
such items of the Credit Obligations as the Lenders may elect.

7.7                                 Recovery
of Payment.  If any payment received
by the Lenders or the Agent and applied to the Credit Obligations is
subsequently set aside, recovered, rescinded or required to be returned for any
reason (including the bankruptcy, insolvency or reorganization of a Borrower or
any other obligor), the Credit Obligations to which such payment was applied
shall, to the extent permitted by Applicable Law, be deemed to have continued
in existence, notwithstanding such application, and each Borrower shall be
jointly and severally liable for such Credit Obligations as fully as if such
application had never been made. 
References in this Agreement to amounts “irrevocably paid” or to “irrevocable
payment” refer to payments that cannot be set aside, recovered, rescinded or
required to be returned for any reason.

7.8                                 Borrowers’
Financial Condition.  Each Borrower
is familiar with the financial condition of the other Borrowers, and each
Borrower has executed and delivered this Agreement based on that Borrower’s own
judgment and not in reliance upon any statement or representation of the
Lenders or the Agent.  The Lenders and
the Agent shall have no obligation to provide any Borrower with any advice
whatsoever or to inform any Borrower at any time of any Lender’s actions,
evaluations or conclusions on the financial condition or any other matter
concerning the Borrowers.

7.9                                 Bankruptcy
of the Borrowers.  Each Borrower
expressly agrees that, to the extent permitted by Applicable Law, the
liabilities and obligations of that Borrower under this Agreement shall not in
any way be impaired or otherwise affected by the institution by or against any
other Borrower or any other Person of any bankruptcy, reorganization,
arrangement, 

 52
 

insolvency or liquidation proceedings, or any other
similar proceedings for relief under any bankruptcy law or similar law for the
relief of debtors and that any discharge of any of the Credit Obligations
pursuant to any such bankruptcy or similar law or other law shall not diminish,
discharge or otherwise affect in any way the obligations of that Borrower under
this Agreement, and that upon the institution of any of the above actions, such
obligations shall be enforceable against that Borrower.

7.10                           Limitation;
Insolvency Laws.  As used in this Section
7.10: (a) the term “Applicable Insolvency Laws” means the laws of
the United States or of any state, province, nation or other governmental unit
relating to bankruptcy, reorganization, arrangement, adjustment of debts,
relief of debtors, dissolution, insolvency, fraudulent transfers or conveyances
or other similar laws (including 11 U. S. C. §547, §548, §550 and other “avoidance”
provisions of Title 11 of the United Stated Code) as applicable in any
proceeding in which the validity and/or enforceability of this Agreement against
any Borrower, or any Specified Lien is in issue; and (b) “Specified Lien”
means any Lien granted by any Borrower securing the Credit Obligations, in
whole or in part.  Notwithstanding any
other provision of this Agreement, if, in any proceeding, a court of competent
jurisdiction determines that with respect to any Borrower, this Agreement or
any Specified Lien would, but for the operation of this Section 7.10, be
subject to avoidance and/or recovery or be unenforceable by reason of
Applicable Insolvency Laws, this Agreement and each such Specified Lien shall
be valid and enforceable against such Borrower, only to the maximum extent that
would not cause this Agreement or such Specified Lien to be subject to
avoidance, recovery or unenforceability. 
To the extent that any payment to, or realization by, the Lenders or the
Agent on the Credit Obligations exceeds the limitations of this Section 7.10
and is otherwise subject to avoidance and recovery in any such proceeding, the
amount subject to avoidance shall in all events be limited to the amount by
which such actual payment or realization exceeds such limitation, and this
Agreement as limited shall in all events remain in full force and effect and be
fully enforceable against such Borrower. 
This Section 7.10 is intended solely to reserve the rights of the
Lenders and the Agent hereunder against each Borrower, in such proceeding to
the maximum extent permitted by Applicable Insolvency Laws and neither the
Borrowers, any Guarantor or any other guarantor of the Credit Obligations nor
any other Person shall have any right, claim or defense under this Section
7.10 that would not otherwise be available under Applicable Insolvency Laws
in such proceeding.

7.11                           Contribution.  Each Borrower hereby agrees that, to the
extent that a Borrower shall have paid an amount hereunder to or on behalf of
the Lenders that is greater than the net value of the benefits received,
directly or indirectly, by such paying Borrower as a result of the making of
the Loans, the issuance of the Letters of Credit and other credit
accommodations extended hereunder or any of the other Credit Documents, such
paying Borrower shall be entitled to contribution from any Borrower that has
not paid its proportionate share, based on benefits received as a result of the
making of the Loans, of the Credit Obligations. 
Any amount payable as a contribution under this Section 7.11
shall be determined as of the date on which the related payment or distribution
is made by the Borrower seeking contribution and each Borrower acknowledges
that the right to contribution hereunder shall constitute an asset of such
Borrower to which such contribution is owed. 
Notwithstanding the foregoing, the provisions of this Section 7.11
shall in no respect limit the obligations and liabilities of any Borrower to the

 53
 

Lenders hereunder or under any other Credit Document,
and each Borrower shall remain jointly and severally liable for the full
payment and performance of the Credit Obligations.

8.                                       Conditions
to Extending Credit.

8.1                                 Conditions
on Initial Closing Date.  The
obligations of the Lenders to make any extension of credit pursuant to Section 2
shall be subject to the satisfaction, on or before the Initial Closing Date, of
the conditions set forth in this Section 8.1, as well as the
further conditions in Section 8.2.

8.1.1                        Executed Credit Documents.  The Borrowers shall have duly executed and
delivered to the Agent (i) this Agreement, (ii) a Revolving Credit
Note for each Lender requesting a Revolving Credit Note pursuant to Section 2.1.4,
(iii) a Swing Line Note for the Swing Line Lender if requested by the
Swing Line Lender pursuant to Section 2.2.2, and (iv) all
other Credit Documents, each in form and substance reasonably acceptable to the
Agent.

8.1.2                        Legal Opinion.  On the Initial Closing Date, the Lenders
shall have received from counsel for the Borrowers, counsel’s opinion with
respect to the transactions contemplated by the Credit Documents, which opinion
shall be in form and substance satisfactory to the Agent.

8.1.3                        Subsidiary Guarantee.  Each Material Subsidiary, other than a
Borrower, shall have duly authorized, executed and delivered to the Agent the
Subsidiary Guarantee in substantially the form of Exhibit 6.

8.1.4                        Due Diligence.  The Agent shall be reasonably satisfied with
the results of its due diligence review of the Borrowers and each of the
Obligors, including three (3) year financial projections and corporate legal
structure.

8.1.5                        Proper Proceedings.  This Agreement, each other Credit Document to
which any Obligor is a party and the transactions contemplated hereby and
thereby shall have been authorized by all necessary corporate or other
proceedings, as determined by the Agent. 
All necessary consents, approvals and authorizations of any Governmental
Authority or administrative agency or any other Person of the transactions
contemplated hereby or by any other Credit Document to which any Obligor is a
party shall have been obtained and shall be in full force and effect, as
determined by the Agent.

8.1.6                        General.  All legal and corporate proceedings in
connection with the transactions contemplated by this Agreement (including, to
the extent consummated on or prior to the Initial Closing Date, the VECO
Acquisition and the [**]) shall be satisfactory in form and substance to the
Agent and the Agent shall have received copies of all documents, including
certified copies of the Charter and Bylaws of each Obligor, records of
corporate proceedings, certificates as to signatures and incumbency of officers
and opinions of counsel, which the Agent may have reasonably requested in
connection therewith, such documents where appropriate to be certified by
proper corporate or Governmental Authorities.

**Confidential Treatment
Requested.

 54
 

8.1.7                        Payment of Fees.  Payment of the fees to the Agent and the
Lenders due in accordance with Section 3.3 and the terms of the Fee
Letter through the Initial Closing Date and expenses incurred by the Agent and
the Lenders through such date and required to be paid by the Borrowers under Section
12, including all legal expenses incurred through the date hereof.

8.1.8                        No Material Adverse Effect.  No event or circumstance which could be
reasonably expected to have a Material Adverse Effect shall have occurred since
December 31, 2006, excluding the potential effect of the VECO Acquisition and
the [**] to the extent such Acquisitions have not been consummated on or before
the Initial Closing Date.

**Confidential Treatment
Requested.

8.1.9                        VECO Letter of Intent.  The VECO Letter of Intent or (if the VECO
Purchase Agreement shall have been executed and shall by its terms supersede
the VECO Letter of Intent, the VECO Purchase Agreement) shall be in form and
substance satisfactory to the Agent and the Lenders; provided that the
form of VECO Letter of Intent as in effect on the date hereof is deemed to be
satisfactory to the Agent and the Lenders.

8.2                                 Conditions
to Each Extension of Credit.  The
obligations of the Lenders to make any extension of credit pursuant to Section 2
shall be subject to the satisfaction, on or before the Closing Date for such
extension of credit, of the following conditions:

8.2.1                        Officer’s Certificate.  The representations and warranties contained
in Section 10 shall be true and correct on and as of such Closing Date
with the same force and effect as though made on and as of such date (except as
to any representation or warranty which refers to a specific earlier date); no
Default or Event of Default shall exist on such Closing Date prior to or
immediately after giving effect to the requested extension of credit; no event
or circumstance which could be reasonably expected to have a Material Adverse
Effect shall have occurred since December 31, 2006; and the Parent shall have
furnished to the Agent, on the Closing Date, a certificate to these effects, in
substantially the form of Exhibit 8.2.1 if a Revolving Credit Loan, a
Swing Line Loan or a Letter of Credit is requested, in each case signed by a
Financial Officer.

8.2.2                        Legality, Etc.  The making of the requested extension of
credit shall not (a) subject any Lender to any penalty or special tax
(other than a Tax for which the Borrowers are required to reimburse the Lenders
under Section 3.5.2), or (b) be prohibited by any Legal
Requirement.

8.3                                 VECO
Acquisition Conditions.  The
obligation of the Lenders to make an extension of credit pursuant to Section 2
for the purpose of financing a portion of the purchase price of the VECO
Acquisition or to refinance existing Indebtedness of VECO and its Subsidiaries
shall be subject to the satisfaction, on or before the consummation date of the
VECO Acquisition, of each condition set forth in this Section 8.3,
as well as the further conditions in Section 8.2 (all such
conditions, collectively, the “VECO Acquisition Conditions”).

8.3.1                        Approvals.  All necessary or appropriate consents,
waivers, approvals and authorizations of any Governmental Authority,
administrative agency or any other Person 

 55
 

of the VECO Acquisition shall have been obtained and shall be in full
force and effect (or any applicable waiting periods, including under the
Hart-Scott-Rodino Antitrust Improvements Act of 1976 or similar foreign
statutes, shall have expired), as determined by the Agent.

8.3.2                        Purchase Documents;
Consummation of VECO Acquisition in Compliance with Applicable Laws.  The VECO Purchase Agreement and the terms and
conditions thereof shall be substantially the same in all material respects to
those set forth in the VECO Letter of Intent, and all other material agreements
and documents contemplated thereby effecting the consummation of the VECO
Acquisition shall be in form and substance reasonably satisfactory to the
Agent; and the VECO Acquisition shall be consummated in compliance, in all
material respects, with Applicable Laws.

8.3.3                        No Litigation.  No litigation, at law or in equity, or any
proceeding before any court, board or other governmental or administrative
agency (including any Governmental Authority) or any arbitrator shall be
pending or overtly threatened against or affecting any Obligor, VECO, or any of
their respective Subsidiaries which seeks to enjoin or otherwise questions the
validity of any of the transactions contemplated by the VECO Purchase Agreement
(including the VECO Acquisition) or by this Agreement or any other Credit
Document to which any Obligor is a party.

8.3.4                        VECO Material Adverse Effect.  Except as set forth on Exhibit 8.3.4,
no event or circumstance has occurred since March 31, 2007 that could be
reasonably expected to have a material adverse effect, in the Agent’s or in
Required Lenders’ reasonable opinion, on (a) the business, assets, condition
(financial or otherwise), operations or prospects of VECO and its Subsidiaries
(on a Consolidated basis, to the extent such Subsidiaries of VECO are to be
acquired in the VECO Acquisition), or (b) the ability of the Borrowers and its
Subsidiaries, on a pro forma basis
after giving effect to the VECO Acquisition, to operate in accordance with the
financial projections previously delivered by the Borrowers to the Agent, or to
comply with the financial covenants set forth in Sections 9.4, 9.5,
and 9.6.

8.3.5                        Purchase Price.  The purchase price for the VECO Acquisition
shall not exceed an aggregate of $450,000,000, and such limitation shall be
inclusive of all consideration paid in cash or other property to the sellers in
the VECO Acquisition (with the value of such other property determined as of
the closing date of the VECO Acquisition), including the VECO Holdback, any
seller notes, “earn-out” or similar payments, any capital stock of any Borrower
or any Subsidiary issued to the sellers in the VECO Acquisition, and all
assumed third party Indebtedness.

8.3.6                        Material Subsidiaries.  If any Person to be acquired in the VECO
Acquisition would, upon consummation of the VECO Acquisition, qualify as a
Material Subsidiary, then concurrently with the consummation of the VECO
Acquisition, the Parent shall, notwithstanding the provisions of Section 6,
cause such Material Subsidiary to execute and deliver to the Agent and the
Lenders a joinder to the Subsidiary Guarantee and such further agreements,
documents and instruments, and do or cause to be done such further acts as may
reasonably be necessary or proper to cause such Material Subsidiary to be
joined as and become a Guarantor under such Subsidiary Guarantee and the other 

 56
 

Credit Documents to which Material Subsidiaries are parties for all
purposes hereunder and thereunder.

9.                                       Covenants.  The Borrowers covenant that, until all of the
Credit Obligations have been paid in full and until the Lenders’ commitments to
extend credit under this Agreement and any other Credit Document have been
irrevocably terminated, the Borrowers will comply with the following
provisions:

9.1                         Conduct
of Business, Etc.

9.1.1                        Types of Business.  Each Borrower and its Subsidiaries will
engage only in the types of business activities in which the Borrowers and
their Subsidiaries engage as of the date of this Agreement or business
activities reasonably incidental thereto.

9.1.2                        Statutory Compliance.  Each Borrower will, and will cause its
Subsidiaries to, comply in all material respects with all Applicable Laws,
unless failure to comply would not have a Material Adverse Effect.  Each Borrower will (a) ensure, and cause each
of its Subsidiaries to ensure, that no stockholder (other than any stockholder
of the Parent that is, directly or indirectly, the “beneficial owner” (as
defined in Rules 13d-3 and 13d-5 under the Exchange Act, except that a person
shall be deemed to have “beneficial ownership” of all shares that any such
person has the right to acquire, whether such right is exercisable immediately
or only after the passage of time), of less than five percent (5.0%) of the
voting power of the voting stock of the Parent on a fully-diluted basis, after
giving effect to the conversion and exercise of all outstanding warrants,
options and other securities of the Parent (whether or not such securities are
then currently convertible or exercisable)), shall be listed on the Specially
Designated Nationals and Blocked Person List or other similar lists maintained
by the Office of Foreign Assets Control (“OFAC”), the Department of the
Treasury or included in any Executive Orders, (ii) not use or permit the use of
the proceeds of the Loans or any other financial accommodation hereunder from
any Lender to violate any of the foreign asset control regulations of OFAC or
other Applicable Law, (iii) comply, and cause each of its Subsidiaries to
comply, with all applicable Bank Secrecy Act laws and regulations, as amended
from time to time, and (iv) otherwise comply with the USA Patriot Act as
required by federal law and the Agent’s policies and practices.

9.2                                 Insurance.  Each Borrower will maintain with financially
sound and reputable insurers insurance against liability for hazards, risks and
liability to persons and property, including product liability and
environmental risk insurance, to the extent, in amounts and with deductibles at
least as favorable as those generally maintained by businesses of similar size
engaged in similar activities; provided, however, that it may
effect workers’ compensation insurance or similar insurance with respect to
operations in any particular state or other jurisdiction through an insurance
fund operated by such state or jurisdiction or by meeting the self-insurance
requirements of such state or jurisdiction, and will cause each Subsidiary to
maintain such insurance unless the Subsidiary’s failure to maintain the
insurance would not have a Material Adverse Effect.

 57
 

9.3                                 Financial
Statements and Other Reporting.

9.3.1                        Date of Annual Financial
Statements.  The annual Consolidated
financial statements of the Parent will be dated as of December 31 in each
year.

9.3.2                        Annual Financial Statements.  The Parent will furnish to the Agent, on
behalf of the Lenders, as soon as available, and in any event within 105 days
after the end of each fiscal year, the Consolidated balance sheet and
statements of income, retained earnings and cash flow (in reasonable detail) of
the Parent and its Subsidiaries as at the end of such fiscal year, setting
forth in comparative form the corresponding figures for the previous fiscal
year (provided that so long as the Parent is a reporting company under
the Securities Exchange Act of 1934, as amended, it may satisfy this
requirement by furnishing to the Agent, on behalf of the Lenders, copies of its
Annual Report on Form 10-K or successor form and all exhibits thereto),
accompanied by:

(a)          reports of KPMG LLP (or, if they cease to be
auditors of the Parent and its Subsidiaries, other independent certified public
accountants of recognized national standing reasonably satisfactory to Required
Lenders) (the “Auditors”) stating that such financial statements have
been prepared in accordance with GAAP and fairly present, in all material
respects, the Consolidated financial position and results of operations of the
Parent as at the end of and for such fiscal year, and without an explanatory
paragraph for a going concern uncertainty, together with (i) a certificate
of the Auditors to the Agent and the Lenders stating that in the course of the
regular audit of the business of the Parent and its Subsidiaries, which audit
was conducted by such Auditors in accordance with generally accepted auditing
standards, such Auditors obtained no knowledge that a Default or Event of
Default has occurred and is continuing, or if, in the opinion of such Auditors,
a Default or Event of Default has occurred and is continuing, a statement as to
the nature thereof, and (ii) a schedule in form satisfactory to the Agent
of the computations used by such Auditors in determining, as of the end of such
fiscal year, compliance with the covenants contained in Sections 9.4,
9.5, and 9.6;

(b)         a certificate of the Parent, in substantially
the form of Exhibit 9.3.2, signed by a Financial Officer to the
effect that the Financial Officer has caused this Agreement to be reviewed and
has no knowledge of any Default or Event of Default, or if such Financial
Officer has such knowledge, specifying such Default or Event of Default and the
nature thereof, and what action the Borrowers have taken, are taking or propose
to take with respect thereto, together with a schedule, in form satisfactory to
the Agent, of the computations used by the Parent in determining compliance
with the covenants contained in Sections 9.4, 9.5, and 9.6;
and

(c)          together with the certificate referred to in
clause (b) above, an internally prepared list of each Borrower, each Guarantor
and each other Subsidiary of the Parent as listed in the Parent’s most recent
Annual Report on Form 10-K filed with the SEC (or, if Parent is no longer a
reporting company under the Securities Exchange Act of 1934, as amended, a list
of Subsidiaries approved by Agent), along with each such Person’s gross revenue
for the four (4) fiscal quarters then ended.

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9.3.3                        Quarterly Financial
Statements.  The Parent will furnish
to the Agent, on behalf of the Lenders, as soon as available and, in any event,
within 55 days after the end of each of the first three (3) fiscal quarters of
the Parent, the internally prepared Consolidated balance sheet and statements
of income, retained earnings and cash flow of the Parent and its Subsidiaries
as of the end of such fiscal quarter, all in comparative form (provided
that so long as the Parent is a reporting company under the Securities Exchange
Act of 1934, as amended, it may satisfy this requirement by furnishing to the
Lenders copies of its Quarterly Reports on Form 10-Q or successor form and
all exhibits thereto, accompanied by a certificate of the Parent signed by a
Financial Officer to the Agent, for the benefit of the Lenders, stating that
such financial statements have been prepared in accordance with GAAP (subject
to normal year-end adjustments) applied on a basis consistent with the Parent’s
most recent audited financial statements and fairly present, in all material
respects, the Consolidated financial position and results of operations of the
Parent and its Subsidiaries as at the end of such fiscal quarter and that such
Financial Officer has caused this Agreement to be reviewed and has no knowledge
of any Default or Event of Default, or if such Financial Officer has such
knowledge, specifying such Default or Event of Default and the nature thereof
and what action the Borrowers have taken, are taking or propose to take with
respect thereto, together with a schedule in form satisfactory to the Agent, of
the computations by the Parent in determining compliance with the covenants
contained in Sections 9.4, 9.5 and 9.6.

9.3.4                        Projections.  The Parent will furnish to the Agent, on
behalf of the Lenders, as soon as available and, in any event within 105 days
after the end of each fiscal year of the Parent, projections of Consolidated
financial statements for the Parent and its Subsidiaries for the next fiscal
year, in a form and in sufficient detail acceptable to the Agent.

9.3.5                        Notice of Litigation,
Defaults, Etc.  The Borrowers will
promptly furnish to the Agent, on behalf of the Lenders, notice of any
litigation or any administrative or arbitration proceeding (a) which creates a
material risk of resulting, after giving effect to any applicable insurance, in
the payment by any Obligor of more than $10,000,000 (prior to the Synthetic
Lease Termination Effective Date) or $25,000,000 (after the Synthetic Lease
Termination Effective Date), or (b) which has, or creates a material risk
of having, a Material Adverse Effect. 
Promptly upon acquiring knowledge thereof, the Borrowers will notify the
Agent, on behalf of the Lenders, of the existence of any Default or Event of
Default or event which creates a material risk of a Material Adverse Effect,
specifying the nature thereof and what action the Borrowers have taken, are
taking or propose to take with respect thereto.

9.3.6                        Amendments.  The Borrowers shall provide to the Agent an
electronic copy of each amendment to any of the $53,000,000 Lease Documents,
the $23,000,000 Lease Documents or the 2005 Lease Documents promptly after
execution thereof; provided that on the Synthetic Lease Termination
Effective Date, this Section 9.3.6 will automatically without
further action of the parties hereto be deemed to be amended to delete this Section 9.3.6
in its entirety and replace it with the word “Reserved.”

9.3.7                        Foreign Indebtedness.  Within five (5) days after the execution of
any documents evidencing Foreign Indebtedness involving commitments to incur 

 59
 

Indebtedness in excess of an aggregate amount of the U.S. Dollar
Equivalent of $10,000,000, the Parent will deliver a complete, fully executed
copy of such documents to the Agent.

9.3.8                        Other Information.  The Parent will maintain accurate books,
accounts and records of the financial affairs of the Parent and its
Subsidiaries sufficient to permit the preparation of financial statements
therefrom in accordance with GAAP and will prepare all financial statements
required hereunder in accordance with GAAP and in compliance with the
regulations of any Governmental Authority having jurisdiction thereof.  The Parent will provide copies to the Agent,
on behalf of the Lenders, promptly after the sending, making available or
filing of all reports and financial statements which the Parent sends or makes
available to its stockholders, and all registration statements and amendments
thereto, and all reports on Form 8-K or any similar form hereafter in use which
the Parent files with the Securities and Exchange Commission.  From time to time at reasonable intervals
upon the request of any authorized officer of the Agent or any Lender, each
Borrower and its Subsidiaries will furnish to the Agent, on behalf of the
Lenders, such other information regarding the business, assets, financial
condition, income or prospects of the Borrowers and their Subsidiaries as such
officer may reasonably request, including copies of all tax returns, licenses,
agreements, leases and instruments to which any Borrower or its Subsidiaries is
a party.  Authorized officers and
representatives of the Agent and each Lender will have the right during normal business
hours upon reasonable notice and at reasonable intervals to visit the principal
executive office of any Borrower or its Subsidiaries, to discuss the affairs,
finances, and accounts of each Borrower and its Subsidiaries with the
respective officers and independent public accountants of each Borrower and its
Subsidiaries (and by this provision each Borrower and its Subsidiaries
authorize said accountants to discuss the affairs, finances and accounts of
such Borrower and its Subsidiaries), examine the books and records of each
Borrower and its Subsidiaries, to make copies and notes therefrom for the
purpose of ascertaining compliance with or obtaining enforcement of this
Agreement or any other Credit Document, provided that if an Event of
Default has occurred and is continuing, such visit and inspection shall be at
the expense of the Borrowers.

9.3.9                        VECO Financial Information.  The Parent will furnish to the Agent and each
Lender as soon as available, and in any event no later than November 1, 2007,
the Consolidated balance sheet and statements of income, retained earnings and
cash flow of VECO and its Subsidiaries (in reasonable detail) as at the end of
the fiscal years of VECO ended March 31, 2005, March 31, 2006, and March 31,
2007, setting forth in comparative form the corresponding figures for the
previous fiscal year, accompanied by reports of KPMG LLP stating that such
financial statements have been prepared in accordance with GAAP and fairly
present, in all material respects, the Consolidated financial position and
results of operations of VECO as at the end of and for each such fiscal year.

9.4                                 Consolidated
Net Worth.  Consolidated Net Worth
will at all times exceed the sum of (a)$342,330,548, plus (b) 50%
of Consolidated Net Income calculated cumulatively for each subsequent fiscal
quarter commencing with the fiscal quarter ending September 30, 2007, excluding
any fiscal quarters in which Consolidated Net Income is negative, plus
(c) 100% of the 

 60
 

Net Cash Proceeds received in connection with the
issuance or sale by any Borrower or Guarantor of equity securities (other than
Excluded Equity).

9.5                                 Fixed
Charge Coverage Ratio.  The Parent
will not permit the Fixed Charge Coverage Ratio, measured as of the last day of
each fiscal quarter, to be less than 1.50 to 1.00.

9.6                                 Leverage
Ratio.  The Parent will not permit
the Leverage Ratio, measured as of the last day of each fiscal quarter, to be
more than 3.00 to 1.00.

9.7                                 Indebtedness.  No Borrower will, nor will any Borrower
permit any of its Subsidiaries to, create, incur, assume or otherwise become or
remain liable with respect to any Indebtedness (or become contractually
committed to do so), except the following:

9.7.1                        Indebtedness in respect of the
Credit Obligations;

9.7.2                        Indebtedness outstanding and
lines of credit available on the date hereof and described in Exhibit 9.7,
and all renewals and extensions thereof not in excess of the amount thereof
outstanding as set forth on such Exhibit 9.7, together with all
prepayment fees, penalties and expenses in respect of such Indebtedness, immediately
prior to such renewal or extension;

9.7.3                        Key Employee Notes;

9.7.4                        Contingent Obligations with
respect to (a) performance guarantees and surety bonds incurred in the ordinary
course of business and of a type and amount consistent with past practices of
the Borrowers and their Subsidiaries and (b) the sale of accounts receivable as
permitted under Section 9.16.4;

9.7.5                        Intercompany loans made by and
between the Parent and its Subsidiaries and by and between Subsidiaries in
connection with the internal cash management system maintained by the Parent
and its Subsidiaries substantially as in effect on the date of this Agreement,
or guarantees by the Parent of Indebtedness of Subsidiaries to the extent
necessary to support the normal operating activities of such Subsidiaries;

9.7.6                        Indebtedness of the Parent
resulting from the private placement of long-term senior unsecured notes; provided,
however, the Parent will be required to provide evidence satisfactory to
Required Lenders that, on a pro forma basis
after the issuance of the senior unsecured notes, no Default or Event of
Default will exist and that the Borrowers would remain in compliance with the
covenants set forth in Sections 9.4, 9.5 and 9.6 upon
the occurrence of an additional $1.00 of Indebtedness;

9.7.7                        Indebtedness in respect of
accounts payable and accrued expenses incurred in the ordinary course of
business which in the aggregate would not have a Material Adverse Effect;

9.7.8                        Indebtedness arising from
judgments that do not cause an Event of Default;

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9.7.9                        Indebtedness of any Subsidiary
which becomes a Significant Subsidiary after the date of this Agreement to the
extent that such Indebtedness is outstanding or is available under a line of
credit as of the date such Subsidiary becomes a Significant Subsidiary, and all
renewals and extensions thereof not in excess of the amount thereof
outstanding, together with all prepayment fees, penalties and expenses in
respect of such Indebtedness, immediately prior to such renewal or extension;

9.7.10                  Indebtedness assumed in connection
with Permitted Acquisitions to the extent permitted in the definition of
Permitted Acquisitions;

9.7.11                  Indebtedness of the Borrowers in
respect of the $53,000,000 Lease Transaction, the $23,000,000 Lease Transaction
and the 2005 Lease Transaction; provided that on the Synthetic Lease
Termination Effective Date, this Section 9.7.11 will automatically
without further action of the parties hereto be deemed to be amended to delete
this Section 9.7.11 in its entirety and replace it with the word “Reserved”;

9.7.12                  Earnouts incurred in connection with
Permitted Acquisitions;

9.7.13                  Indebtedness and all commitments to
incur Indebtedness incurred by foreign Borrowers or foreign Subsidiaries in
currencies other than United States Dollars in an aggregate amount not to
exceed the U.S. Dollar Equivalent of $50,000,000 at any one time, including
Guarantees of Foreign Indebtedness by a Borrower or Subsidiary (“Foreign
Indebtedness”), so long as (a) no Event of Default has occurred and is continuing
or will occur as a result of or immediately following the incurrence of such
Foreign Indebtedness, (b) such Foreign Indebtedness is pari
passu or junior in right of payment to
the Indebtedness in respect of the Credit Obligations and the financial
covenants related to such Foreign Indebtedness are no more restrictive than
those set forth in Sections 9.4, 9.5, and 9.6 and (c)
prior to the closing of any transaction with respect to such Foreign
Indebtedness involving commitments to incur Indebtedness in excess of an
aggregate amount of the U.S. Dollar Equivalent of $10,000,000, the Parent has
delivered to the Agent drafts of the documents related to such transaction
substantially similar to the final documents evidencing such Foreign
Indebtedness;

9.7.14                  Indebtedness of a Borrower or a
Subsidiary incurred to finance the acquisition, construction or improvement of
any fixed or capital assets (excluding real property), including obligations
under Capitalized Leases and any Indebtedness assumed in connection with the
acquisition of any such assets, and extensions, renewals and replacements of
any such Indebtedness; provided that (a) such Indebtedness is incurred
prior to or within ninety (90) days after such acquisition or the completion of
such construction or improvement and (b) the aggregate principal amount of
Indebtedness permitted by this Section 9.7.14 shall not exceed
$100,000,000 at any time outstanding;

9.7.15                  Indebtedness with respect to Hedging
Agreements permitted under Section 9.29;

9.7.16                  Indebtedness of a Borrower or a
Subsidiary secured only by a mortgage or deed of trust on real property owned
by such Borrower or Subsidiary in the aggregate 

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principal amount for all such mortgage financings of the Borrowers and
their Subsidiaries not to exceed $50,000,000 outstanding at any time; and

9.7.17                  Other Indebtedness in an aggregate
principal amount not in excess of $50,000,000.

9.8                                 Liens.  No Borrower will, nor will any Borrower
permit any of its Significant Subsidiaries to, create, incur or enter into, or
suffer to be created or incurred or to exist, any Lien that secures
Indebtedness or taxes (or become contractually committed to do so), except the
following:

9.8.1                        Liens that secure the Credit
Obligations;

9.8.2                        Liens to secure taxes,
assessments and other governmental charges, to the extent that payment thereof
will not at the time be required or will be contested in good faith by
appropriate proceedings with appropriate reserves being taken thereafter;

9.8.3                        Liens securing Indebtedness
permitted by Sections 9.7.2, 9.7.9, 9.7.11, 9.7.13
and 9.7.16; provided that Indebtedness permitted by Section
9.7.13 may be secured only by Liens on assets located outside of the United
States and owned by the foreign Borrower or foreign Subsidiary incurring such Indebtedness;

9.8.4                        Liens in effect on the date
hereof and described in the Parent’s Consolidated financial statements for the
fiscal quarter ending June 30, 2007, provided that no such Lien shall
extend to any property other than: (a) property subject to such Lien on the
date of this Agreement; (b) after-acquired property to the extent such Lien
includes a grant of a security interest in such after-acquired property; and
(c) products, proceeds, rents and profits of such property to the extent such
Lien includes a grant of a security interest in such products, proceeds rents
and profits;

9.8.5                        Liens in respect of property
imposed by law arising in the ordinary course of business such as materialmen’s,
mechanics, warehousemen’s, carrier, landlord’s and other nonconsensual
statutory Liens which are not yet due and payable or which are being contested
in good faith by appropriate proceedings for which adequate reserves determined
in accordance with GAAP have been established (and as to which property subject
to any such Lien is not yet subject to foreclosure, sale or loss on account
thereof);

9.8.6                        Pledges or deposits made in the
ordinary course of business to secure payment of workers compensation
insurance, unemployment insurance, pension or social security programs;

9.8.7                        Easements, rights of way,
restrictions (including zoning restrictions, matters of plat, minor defects or
irregularities in title) and other similar charges or encumbrances not, in any
material respect, impairing the use of the encumbered property for its intended
purposes;

9.8.8                        Judgment Liens that would not
constitute an Event of Default;

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9.8.9                        Liens arising by virtue of any
statutory or common law provisions relating to banker’s liens, rights of setoff
or similar rights as to deposit accounts or other funds maintained with a
creditor depository institution;

9.8.10                  Liens on fixed or capital assets
acquired, constructed or improved by a Borrower or a Subsidiary; provided
that (a) such security interests secure Indebtedness permitted by Section 9.7.14,
(b) such security interests and the Indebtedness secured thereby are incurred
prior to or within ninety (90) days after such acquisition or the completion of
such construction or improvement, (c) the Indebtedness secured thereby does not
exceed 100% of the cost of acquiring, constructing or improving such fixed or
capital assets and (d) such Liens shall not apply to any property or assets of
a Borrower or a Subsidiary other than such fixed or capital assets acquired,
the proceeds thereof, and, with respect to a Capitalized Lease, related
documents, general intangibles, lease contracts, leasehold interests and
records, in each case so long as no Default or Event of Default is then in
existence and none would exist immediately after such acquisition, construction
or improvement; and

9.8.11                  Liens assumed in connection with (a)
the [**] (to the extent permitted by Section 9.17.8), (b) the VECO
Acquisition (to the extent permitted by Section 9.17.9) and (c) (to the
extent permitted under the definition of Permitted Acquisitions).

**Confidential Treatment
Requested.

9.9                                 Transactions
with Affiliates.  No Borrower will,
nor will any Borrower permit any of its Subsidiaries to, enter into any
transaction, directly or indirectly, with or for any Affiliate of a Borrower
(other than another Borrower or any Subsidiary) except (a) on a basis no more
favorable to such Affiliate than would be obtained in a comparable arm’s length
transaction with a Person not an Affiliate of Borrower or (b) any transaction
involving assets that are not material to the business and operations of the
Borrowers or the Subsidiaries involved in such transaction.

9.10                           Environmental
Laws.

9.10.1                  Compliance with Law and Permits.  Each Borrower will, and will cause its Subsidiaries
to, use and operate all of its facilities and properties in compliance with all
applicable Environmental Laws, keep all necessary permits, approvals,
certificates, licenses and other authorizations required by Environmental Laws
in effect and remain in compliance therewith, and handle all Hazardous
Materials in compliance with all applicable Environmental Laws, unless failure
to do so would not have a Material Adverse Effect.

9.10.2                  Notice of Claims, Etc.  Each Borrower will immediately notify the Agent,
and provide copies upon receipt, of all written material claims, complaints,
notices or inquiries from any Person relating to the use or condition of the
facilities and properties of any Borrower or Subsidiary or non-compliance with
applicable Environmental Laws, failure of the Borrower or any Subsidiary to
keep all necessary permits, approvals, certificates, licenses and other
authorizations required by applicable Environmental Laws in effect and remain
in compliance therewith, or failure to handle all Hazardous Materials in
compliance with all applicable Environmental Laws.  The Borrowers will promptly cure and have
dismissed with prejudice to the satisfaction of the Agent any actions and 

 64
 

proceedings relating to compliance with applicable Environmental Laws
by any Borrower, and the Borrowers will cause each Subsidiary to cure and have
dismissed with prejudice to the satisfaction of the Agent any actions and
proceedings relating to compliance with applicable Environmental Laws by any
such Subsidiary, unless, in each case, the Borrower’s or the Subsidiary’s
failure to cure and have dismissed such actions and proceedings would not have
a Material Adverse Effect.

9.11                           Payment
of Taxes, Etc.  Each Borrower will,
and will cause each of its Subsidiaries to (unless a failure by the Borrower or
the Subsidiary would not have a Material Adverse Effect), to file all tax
returns required to be filed in any jurisdiction and pay and discharge, before
the same becomes delinquent, (i) all taxes, assessments and governmental
charges or levies imposed upon it or upon its property and (ii) all lawful
claims that, if unpaid, might by law become a Lien upon its property; provided,
however, that unless and until any Lien resulting therefrom attaches to
its property and becomes enforceable against its other creditors or any
property subject to any such Lien becomes subject to foreclosure, sale or loss
on account thereof, no payment will be required if such tax, assessment,
charge, levy or claim is being contested in good faith and by proper
proceedings for which adequate reserves determined in accordance with GAAP have
been established.

9.12                           Preservation
of Existence, Etc..  Each Borrower
will, and will cause each of its Subsidiaries to (unless a failure by the
Borrower or the Subsidiary would not have a Material Adverse Effect), preserve
and maintain its existence, legal structure, state of incorporation, legal
name, rights (charter and statutory), permits, licenses, approvals, privileges
and franchises; provided, however, that (A) a Borrower and
its Subsidiaries may consummate any merger or consolidation permitted under Section 9.15,
and (B) a Borrower and any of its Subsidiaries may change its legal name
so long as the Agent is given prompt notice of such change, and such change
will not otherwise have any Material Adverse Effect.

9.13                           Compliance
with Terms of Leaseholds.  Each
Borrower will, and will cause each of its Subsidiaries to, make all payments
and otherwise perform all obligations in respect of all leases of real property
to which it is a party, keep such leases in full force and effect and not allow
such leases to lapse or be terminated or any rights to renew such leases to be
forfeited or canceled, unless the failure to do so would not have a Material
Adverse Effect.

9.14                           [Reserved].

9.15                           Mergers,
Etc.  No Borrower will (a) merge into
or consolidate with any Person or permit any Person to merge into it, (b)
consolidate, reorganize or recapitalize, or (c) permit any of its Significant
Subsidiaries to consolidate, reorganize or recapitalize, except in each case in
connection with (i) Investments permitted under Section 9.17.6,
(ii) mergers among the Borrowers and their Subsidiaries provided that a
Borrower is the surviving entity or such surviving entity becomes a Borrower,
and (iii) mergers among Subsidiaries of the Borrowers.

9.16                           Sales,
Etc. of Assets.  No Borrower will,
nor will any Borrower permit any of its Material Subsidiaries to consummate any
Asset Disposition, except:

9.16.1                  The sale or other disposition of obsolete,
worn out or materially damaged or defective property or equipment in the
ordinary course of business;

 65
 

9.16.2                  Asset Dispositions in connection with
the Synthetic Lease Termination;

9.16.3                  The $53,000,000 Lease Transaction,
the $23,000,000 Lease Transaction and the 2005 Lease Transaction; provided
that on the Synthetic Lease Termination Effective Date, this Section 9.16.3
will automatically without further action of the parties hereto be deemed to be
amended to delete this Section 9.16.3 in its entirety and replace
it with the word “Reserved”;

9.16.4                  The sale of accounts receivable owed
by the United States of America or any state, local or municipal government, or
any department, agency or instrumentality thereof, to a Borrower or a
Subsidiary which are generated by or related to services projects for
governmental departments, agencies or instrumentalities, so long as
(a)(I) such Borrower or Subsidiary does not incur any Contingent
Obligations related to such sale or (II) if such Borrower or Subsidiary does
incur Contingent Obligations related to such sale, such Contingent Obligations
do not exceed $20,000,000 in the aggregate at any one time for all Borrowers
and Subsidiaries and (b) the terms and conditions of such sale are reasonably
acceptable to the Agent; and

9.16.5                  The sale or other disposition of
assets of a Borrower or a Subsidiary in an aggregate amount for all such sales
of the Borrowers and their Subsidiaries not to exceed $50,000,000 in any fiscal
year of the Parent, provided that no Default or Event of Default shall
be in existence or otherwise result from any such sale or other disposition.

9.17                           Investments.  No Borrower will, and no Borrower will permit
any of its Subsidiaries to, to make or hold any Investment in any Person other
than:

9.17.1                  Investments in another Obligor;

9.17.2                  Cash Equivalents in the ordinary
course of business pursuant to the Parent’s usual and customary cash management
policies and procedures;

9.17.3                  Investments existing on the date
hereof and described on Exhibit 9.17;

9.17.4                  Investments permitted by Section 9.7;

9.17.5                  Investments in the nature of joint
ventures or Subsidiaries in the ordinary course of their business and in a
manner consistent with their past practices;

9.17.6                  Permitted Acquisitions;

9.17.7                  Investments in the form of Hedging
Agreements permitted under Section 9.29;

9.17.8                  The [**], subject to and conditioned
upon the prior satisfaction of each of the conditions set forth in paragraphs
(b) through (g) of the definition of “Permitted Acquisition” (provided
that for such purpose, the term [**] shall be deemed substituted for the term “Permitted
Acquisition” in each place such latter term appears in each such paragraph);
and

**Confidential Treatment
Requested.

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9.17.9                  The VECO Acquisition (subject to and
conditioned upon (i) the prior satisfaction of each VECO Acquisition Condition
and the conditions set forth in paragraphs (b) through (d) and (g) of the
definition of “Permitted Acquisition” (provided that for such purpose,
the term “VECO Acquisition” shall be deemed substituted for the term “Permitted
Acquisition” in each place such latter term appears in each such paragraph) and
(ii) Borrowers shall have delivered to the Agent a certificate of a Financial
Officer certifying only as to the matters set forth paragraph (d) of the
definition of “Permitted Acquisition”).

9.18                           Distributions,
Etc..  No Borrower will purchase,
redeem, retire, defease or otherwise acquire for value any of its ownership
interests or any warrants, rights or options to acquire such ownership
interests, now or hereafter outstanding, return any capital to its
stockholders, partners or members, as such, declare or make any Distribution
(including any Distribution of cash or other assets, certificated or
uncertificated ownership interests, warrants, rights, options, obligations or
securities), or permit any of its Subsidiaries to make any Distributions or to
purchase, redeem, retire, defease or otherwise acquire for value any ownership
interests of a Borrower or any Subsidiary of a Borrower or any warrants, rights
or options to acquire such ownership interests; provided, however,
that (i) any Borrower or Subsidiary may make a Distribution to another
Borrower or Subsidiary; (ii) any Subsidiary may make a Distribution to its
stockholders, members, partners and other equity holders on a pro rata basis; (iii) the Parent may repurchase its common
stock in accordance with the stock repurchase provisions set forth in the
Parent’s Bylaws as those Bylaws are in effect as of the date of this Agreement;
and (iv) the Parent may repurchase its common stock on the internal market
to balance the supply and demand for common stock between buyers and sellers.

9.19                           Limits
on Capital Expenditures.  No Borrower
will, and no Borrower will permit any of its Subsidiaries to, make any Capital
Expenditures that would cause the aggregate of all such Capital Expenditures
made by the Borrowers and their Subsidiaries in any fiscal year to exceed three
percent (3.00%) of the Borrowers’ Consolidated annual revenues for the prior
fiscal year, as determined in accordance with GAAP.

9.20                           Charter
and Bylaws Amendments; Resolutions. 
No Borrower will amend, or permit any of its Subsidiaries to amend, its
Charter or Bylaws in any way that would have a Material Adverse Effect.  Each Borrower will give the Agent written
notice of any rescission or modification of its resolutions delivered to the
Agent pursuant to Section 8.1.6.

9.21                           Prepayments,
Etc. of Indebtedness.  No Borrower
will, and no Borrower will permit any of its Subsidiaries to, prepay, redeem,
purchase, defease or otherwise satisfy prior to the scheduled maturity thereof
in any manner any Indebtedness (including the $23,000,000 Lease Obligations,
the $53,000,000 Lease Obligations and the 2005 Lease Obligations), (a) if such
prepayment would, on a pro forma
basis, cause a Default or Event of Default hereunder; and (b) if such
prepayment exceeds $15,000,000, without first providing the Agent with a
written certification from a Financial Officer describing the amount and date
of such proposed prepayment and stating that such prepayment will not, on a pro forma basis, cause a Default or Event of Default
hereunder; provided that on the Synthetic Lease Termination Effective
Date, this Section 9.21 will automatically without further action
of the parties hereto be deemed to be amended to delete (x) the
parenthetical in the third and fourth lines hereof and (y) clause (b) herein;
and provided further that the provisions of this Section 9.21
will not apply to (i) the 

 67
 

prepayment of the Loans in accordance with the terms
of this Agreement, (ii) the prepayment of obligations under the Borrowers’
internal cash management system substantially similar to the system in effect
on the date of this Agreement or (iii) the Synthetic Lease Termination.

9.22                           Preservation
of Rights and Properties.  Each
Borrower will, and will cause each of its Subsidiaries to (unless a failure by
such Subsidiary would not have a Material Adverse Effect), maintain and
preserve the existence of the Borrowers and their Subsidiaries and all material
public rights, privileges and franchises now enjoyed, and conduct its business
in an orderly, efficient and customary manner.

9.23                           Payment
of Obligations.  Each Borrower will,
and will cause its Subsidiaries to (unless a failure by a Borrower or a
Subsidiary would not have a Material Adverse Effect), pay all material
obligations at maturity, except such as may be contested in good faith or as to
which a bona fide dispute may exist.

9.24                           Maintenance
of Properties.  Each Borrower will,
and will cause its Subsidiaries to, maintain its properties in good repair,
working order and condition and from time to time make repairs, renewals,
replacements, additions and improvements thereto, except to the extent failure
to maintain such properties would not have a Material Adverse Effect.  Each Borrower will, and will cause its
Subsidiaries to (unless a failure by a Borrower or a Subsidiary would not have
a Material Adverse Effect), comply at all times in all material respects with
the provisions of all material licenses, leases and other material agreements
to which it is a party so as to prevent any loss or forfeiture thereof or
thereunder unless compliance therewith is being at the time contested in good
faith by appropriate proceedings.

9.25                           ERISA.  As soon as possible and in any event within
thirty (30) days after any Borrower knows or has reason to know that any ERISA
Event  with respect to any Plan has
occurred, the Borrowers will deliver to the Agent a statement of the Parent’s
Financial Officer setting forth details as to such ERISA Event and the action
which it proposes to take with respect thereto, together with a copy of the
notice of such ERISA Event to the PBGC. 
As soon as possible and in any event within thirty (30) days after
receipt thereof by any Borrower or, to the extent a Borrower has knowledge
thereof, by any ERISA Group Person, the Borrowers will deliver to the Agent
copies of each notice from the PBGC stating its intention to terminate any Plan
or to have a trustee appointed to administer a Plan.  As soon as possible and in any event within
thirty (30) days after receipt thereof by any Borrower or, to the extent a
Borrower has knowledge thereof, by any ERISA Group Person from the sponsor of a
Multiemployer Plan, copies of each notice concerning (i) the imposition of
withdrawal liability by any such Multiemployer Plan, (ii) the reorganization or
termination, within the meaning of Title IV of ERISA, of any such Multiemployer
Plan, or (iii) the amount of liability incurred, or that may be incurred, by
such Borrower or ERISA Group Person in connection with any event described in
clause (i) or (ii).

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9.26                           Ownership
of the Borrowers.  The Parent, or a
direct Material Subsidiary of the Parent, will at all times own at least 80% of
the outstanding equity of each Borrower (other than the Parent).

9.27                           Pari
Passu.  The Credit Obligations of the
Borrowers shall at all times rank at least pari passu with
all other Indebtedness of the Borrowers, except to the extent permitted by Section 9.8
and as set forth in Section 9.28.

9.28                           Lease
Transactions.  The Indebtedness in
respect of the $53,000,000 Lease Documents, the $23,000,000 Lease Documents and
the 2005 Lease Documents are and shall at all times be pari passu
or junior in right of payment to the Indebtedness in respect of the Credit
Obligations (except with respect to Liens permitted by Section 9.8).  The financial covenants set forth in the
Synthetic Lease Documents on the Initial Closing Date are, and at all times
shall be, no more restrictive than those set forth in Sections 9.4,
9.5, and 9.6. 
Notwithstanding the foregoing, on the Synthetic Lease Termination
Effective Date, this Section 9.28 will automatically without
further action of the parties hereto be deemed to be amended to delete this Section 9.28
in its entirety and replace it with the word “Reserved.”

9.29                           Hedging
Agreements.  No Borrower will, and no
Borrower will permit any of its Subsidiaries to, enter into any Hedging
Agreement, except Hedging Agreements (a) the liabilities under which are
unsecured and (b) which are entered into not for speculative purposes but to
hedge or mitigate risks to which a Borrower or any Subsidiary has actual
exposure (other than those in respect of the capital stock of a Borrower or any
of a Borrower’s Subsidiaries).

10.                                 Representations
and Warranties.  In order to induce
the Lenders to extend credit to the Borrowers hereunder, each Borrower jointly
and severally represents and warrants as follows:

10.1                           Organization
and Business.

10.1.1                  Legal Status.  Each Borrower is a duly organized and validly
existing corporation, in good standing (except in jurisdictions that do not
recognize good standing) under the laws of the jurisdiction in which it is
organized, with all power and authority, corporate or otherwise, necessary to
(a) enter into and perform this Agreement and each other Credit Document
to which it is party, and (b) own its properties and carry on the business
now conducted or proposed to be conducted by it.  Certified copies of the Charters and Bylaws
of each Borrower have been previously delivered to the Agent and are correct
and complete.

10.1.2                  Material Subsidiaries.  Each Material Subsidiary is duly organized,
validly existing and in good standing (except in jurisdictions that do not
recognize good standing) under the laws of the jurisdiction in which it is
organized, with all power and authority, corporate or otherwise, necessary to
(a) enter into and perform each Credit Document to which it is party, and
(b) own its properties and carry on the business now conducted or proposed
to be conducted by it.  Certified copies
of the Charter and Bylaws of each Material Subsidiary have been previously
delivered to the Agent and are correct and complete.  Exhibit 10.1, as from time to
time hereafter supplemented, sets forth, as of the later of the date hereof or
the end of the most recent fiscal quarter for which financial statements are
required to be furnished in accordance with Section 9.3, the name,
address 

 69
 

of the chief executive office, and jurisdiction of organization of each
Material Subsidiary.  Each Borrower,
other than the Parent, is a Material Subsidiary, and, subject to compliance
with Section 6, none of the other Subsidiaries are Material Subsidiaries.

10.1.3                  Qualification.  Each Borrower and each Material Subsidiary is
duly and legally qualified to do business as a foreign corporation or other
entity and is in good standing (except in jurisdictions that do not recognize
good standing) in each state or jurisdiction in which such qualification is
required and is duly authorized, qualified and licensed under all laws,
regulations, ordinances or orders of public authorities, or otherwise, to carry
on its business in the places and in the manner in which it is conducted,
except for failures to be so qualified, authorized or licensed would not in the
aggregate have a Material Adverse Effect.

10.2                           Financial
Statements and Other Information. 
The Borrowers have previously furnished to the Agent and each Lender
copies of the Consolidated financial statements of the Parent as at
December 31, 2006.  Such financial
statements were prepared in accordance with GAAP and fairly present, in all
material respects, the Consolidated financial position of the Parent at the
date thereof.

10.3                           No
Material Adverse Effect.  Since
December 31, 2006, no event has occurred which can be reasonably expected
to have a Material Adverse Effect.  Since
December 31, 2006, (a) neither the Parent nor any of its Subsidiaries
has incurred any obligations, contingent or non-contingent liabilities,
long-term leases or unusual forward or long-term commitments (other than the
Credit Obligations) which, alone or in the aggregate, could reasonably be
expected to have a Material Adverse Effect, (b) no contract, lease or
other agreement or instrument has been entered into by the Parent or any of its
Subsidiaries or has become binding upon the Parent’s or any of its Subsidiaries’
assets and no law or regulation applicable to the Parent or any of its
Subsidiaries has been adopted which has had or could reasonably be expected to
have a Material Adverse Effect, and (c) neither the Parent nor any of its
Subsidiaries is in default and, to the best of the Borrowers’ knowledge, no
third party is in default, under any material contract, lease or agreement,
which alone or in the aggregate could reasonably be expected to have a Material
Adverse Effect.

10.4                           Operations
in Conformity with Law, Etc.  The
operations of each Borrower and its Subsidiaries as now conducted or proposed
to be conducted are not in violation of, nor is any Borrower or its
Subsidiaries in default under, any Applicable Law, except for such violations
and defaults as do not and will not, in the aggregate, result, or create a
material risk of a Material Adverse Effect. 
The Borrowers have received no notice of any such violation or default
and have no knowledge of any basis on which the operations of the Borrowers or
their Subsidiaries, as now conducted and as currently proposed to be conducted
after the date hereof, would be held to violate or to give rise to any such
violation or default.

10.5                           Litigation.  No litigation, at law or in equity, or any
proceeding before any court, board or other governmental or administrative
agency (including any Governmental Authority) or any arbitrator is pending or,
to the knowledge of the Borrowers, threatened which involves any material risk
of any final judgment, order or liability which, after giving effect to any
applicable insurance, has resulted, or creates a material risk of resulting, in
any Material Adverse Effect or which seeks to enjoin the consummation, or which
questions the validity, of any of the 

 70

transactions contemplated by this Agreement (including
the VECO Acquisition or the [**]) or any other Credit Document.  No judgment, decree or order of any court,
board or other governmental or administrative agency (including any Governmental
Authority) or any arbitrator has been issued against or binds any Borrower or
any Subsidiary which has resulted, or creates a material risk of resulting, in
any Material Adverse Effect.

**Confidential Treatment
Requested.

10.6                           Authorization
and Enforceability.  Each Obligor has
taken all corporate action required to execute, deliver and perform this
Agreement and each other Credit Document to which it is party.  No consent of stockholders of any Obligor is
necessary in order to authorize the execution, delivery or performance of this
Agreement or any other Credit Document to which any Obligor is party.  Each of this Agreement and each other Credit
Document constitutes the legal, valid and binding obligation of each Obligor
party thereto and is enforceable against such Obligor in accordance with its
terms, except as enforcement thereof may be subject to (i) the effect of
any applicable bankruptcy, insolvency, reorganization, moratorium or similar
laws affecting creditors’ rights generally, and (ii) general principles of
equity.

10.7                           No
Legal Obstacle to Agreements.

10.7.1                  Neither the execution and delivery of
this Agreement or any other Credit Document, nor the making of any borrowings
hereunder, nor the guaranteeing of the Credit Obligations, nor the consummation
of any transaction referred to in or contemplated by this Agreement (including
the VECO Acquisition or the [**]) or any other Credit Document, nor the
fulfillment of the terms hereof or thereof or of any other agreement or instrument
contemplated by this Agreement or any other Credit Document, has constituted or
resulted in or shall constitute or result in:

**Confidential Treatment
Requested.

(a)          any breach or termination of the provisions
of any agreement, instrument, deed or lease to which any Borrower, any
Subsidiary or any other Obligor is a party or by which it is bound, or of the
Charter or Bylaws of any Borrower, any Subsidiary or any other Obligor;

(b)         the violation of any law, statute, judgment,
decree or governmental order, rule or regulation applicable to any Borrower,
any Subsidiary or any other Obligor;

(c)          the creation under any agreement, instrument,
deed or lease of any Lien upon any of the assets of any Borrower, any
Subsidiary or any other Obligor; or

(d)         any redemption, retirement or other repurchase
obligation of any Borrower, any Subsidiary or any other Obligor under any
Charter, Bylaw, agreement, instrument, deed or lease.

10.7.2                  No approval, authorization or other
action by, or declaration to or filing with, any Governmental Authority, other
than the Securities and Exchange Commission, administrative authority or any
other Person is required to be obtained or made by any Borrower, any Subsidiary
or any other Obligor in connection with the execution, delivery and performance
of this Agreement or any other Credit Document, the transactions 

 71
 

contemplated hereby or thereby, the making of any borrowing hereunder
or the guaranteeing of the Credit Obligations.

10.8                           Tax
Returns.  Each Borrower (and, to the
extent failure to do so would have a Material Adverse Effect, each of its
Subsidiaries) has filed all material tax and information returns which are
required to be filed by it and has paid, or made adequate provision for the
payment of, all taxes which have or may become due pursuant to such returns or
to any assessment received by it, other than taxes and assessments being
contested in good faith by appropriate proceedings and for which adequate
reserves have been established in accordance with GAAP.

10.9                           Environmental
Regulations.

10.9.1                  Environmental Compliance.  Except as set forth on Exhibit 10.9,
each Borrower and its Subsidiaries is in compliance in all material respects
with the Clean Air Act, the Federal Water Pollution Control Act, the Marine
Protection Research and Sanctuaries Act, RCRA, CERCLA and each other applicable
Environmental Law in effect in any jurisdiction in which any properties of any
Borrower or any Subsidiary are located or where any of them conducts its
business, and with all applicable published rules and regulations (and
applicable standards and requirements) of the federal Environmental Protection
Agency and of any similar agencies in states or foreign countries in which any
Borrower or its Subsidiaries conducts its business other than those which in
the aggregate have not resulted, and do not create a material risk of
resulting, in a Material Adverse Effect.

10.9.2                  Environmental Litigation.  Except as set forth on Exhibit 10.9,
no suit, claim, action or proceeding of which any Borrower or any Subsidiary
has been given notice or otherwise has knowledge is now pending before any
court, Governmental Authority or board or other forum, or to any Borrower’s or
any Subsidiary’s knowledge, threatened by any Person (nor to the knowledge of
each Borrower and each Subsidiary, does any factual basis exist therefor) for,
and neither any Borrower nor any Subsidiary has received written correspondence
from any Governmental Authority with respect to, except to the extent any of
the following would not have a Material Adverse Effect:

(a)          noncompliance by any Borrower or any
Subsidiary with any Environmental Law;

(b)         personal injury, wrongful death or other
tortious conduct relating to materials, commodities or products used,
generated, sold, transferred or manufactured by any Borrower or any Subsidiary
(including products made of, containing or incorporating asbestos, lead or
other hazardous materials, commodities or toxic substances); or

(c)          the release into the environment by any
Borrower or any Subsidiary of any Hazardous Material generated by a Borrower or
any Subsidiary whether or not occurring at or on a site owned, leased or
operated by any Borrower or any Subsidiary.

 72
 

10.10                     Plans.  Each Plan (other than a Multiemployer Plan)
and, to the knowledge of each Borrower and its Subsidiaries, each Multiemployer
Plan is in material compliance with the applicable provisions of ERISA, the
Code, and all other applicable statutes, governmental rules and regulations,
including the filing of reports required under the Code or ERISA.  Each Pension Plan is set forth in Exhibit 10.10.  With respect to each Pension Plan other than
a Multiemployer Plan, and to the knowledge of the Borrowers and their
Subsidiaries, with respect to each Multiemployer Plan, no ERISA Event has occurred
and is continuing with respect to any Pension Plan subject to Title IV of
ERISA, where a Material Adverse Effect could reasonably be expected to occur as
a result.  Except as otherwise listed on Exhibit 10.10,
no Pension Plan other than a Multiemployer Plan has any Insufficiency, and no
ERISA Group Person has any contingent liability with respect to any
postretirement medical or health benefits under a Plan other than liability for
continuation coverage described in Part 6 of Title I of ERISA.  No prohibited transaction under ERISA or the
Code has occurred and is continuing with respect to any Plan.  Each ERISA Group Person has made all
contributions required to be made by them to any Plan when due.

10.11                     Consents
or Approvals.  No consent or approval
of any trustee, issuer or holder of any Indebtedness or obligations of any
Borrower or its Subsidiaries, and no consent, permission, authorization, order
or license of any Governmental Authority, is necessary in connection with the
execution and delivery of the Credit Documents or any transaction contemplated
by the Credit Documents, in each case other than those that have been obtained
and are in effect.

10.12                     No Liens.  Each Borrower and each Significant Subsidiary
owns its property free and clear of Liens, except Liens permitted by Section 9.8.

10.13                     Business
Authorizations.  Each Borrower and
each Material Subsidiary possesses all patents, patent rights or licenses,
trademarks, trademark rights, trade names or trade name rights and copyrights
required to conduct its business in all material respects as now conducted
without material conflict with the rights or privileges of others.

10.14                     Disclosure.  Neither this Agreement nor any other Credit
Document to be furnished to the Agent and the Lenders by or on behalf of any
Borrower or any of its Subsidiaries in connection with the transactions
contemplated hereby or by such Credit Document, nor any documentation required
to be delivered pursuant to Section 9.3, contains any untrue
statement of material fact or omits to state a material fact necessary in order
to make the statements contained herein or therein not misleading in light of
the circumstances under which they were made.

10.15                     Solvency.  Each Borrower is Solvent, and, after
consummation of the transactions contemplated by this Agreement, will be
Solvent.

10.16                     Investment
Company Act.  No Borrower is a
company required to be registered as an “investment company” within the meaning
of the Investment Company Act of 1940, as amended.

10.17                     Public
Utility Holding Company Act.  No
Borrower nor any Subsidiary is a “holding company” or a “subsidiary company” of
a “holding company” or an “affiliate” of a “holding company” within the meaning
of the Public Utility Holding Company Act of 2005, as amended.

 73
 

11.                                 Defaults.

11.1                           Events
of Default.  The following events are
referred to as “Events of Default”:

11.1.1                  Payment.  The Borrowers fail to make any payment in
respect of:  (a) principal, interest
or any fee on or in respect of any of the Credit Obligations as the same
becomes due and payable, whether at maturity or by acceleration or otherwise,
and such failure continues for a period of three (3) Banking Days, or (b) any
Credit Obligation with respect to payments made by any Issuing Bank under any
Letter of Credit or any draft drawn thereunder within three (3) Banking Days
after demand therefor by the Issuing Bank.

11.1.2                  Specified Covenants.  Any Borrower fails to perform or observe any
of the provisions of Sections 2.5, 9.3.9, 9.4 through 9.6,
9.12, 9.15 through 9.21, or 9.25 through 9.27,
or a Material Subsidiary fails to perform or observe any of the provisions of Section
2.1 of its Subsidiary Guarantee.

11.1.3                  Other Covenants.  Any Obligor fails to perform or observe any
covenant, agreement or provision to be performed or observed by it under this
Agreement (other than those set forth in Sections 11.1.1 and 11.1.2),
the Subsidiary Guarantee (other than those set forth in Section 11.1.2),
or any other Credit Document to which such Obligor is a party, and such failure
is not cured to the written satisfaction of Required Lenders within thirty (30)
days after notice thereof by the Agent to the Parent.

11.1.4                  Representations and Warranties.  Any representation or warranty of or with
respect to any Obligor made to the Lenders or the Agent in, pursuant to or in
connection with this Agreement, the Subsidiary Guarantee or any other Credit
Document to which any Obligor is a party is materially false on the date as of
which it was made.

11.1.5                  Cross Default, Etc.

(a)          Any Borrower or any Subsidiary fails to make
any payment when due (after giving effect to any applicable grace periods) in
respect of any Indebtedness (other than the Credit Obligations) outstanding in
an aggregate amount of principal (whether or not due) and accrued interest
exceeding $5,000,000 (provided that on the Synthetic Lease Termination
Effective Date, this clause (a) will automatically without further action of
the parties hereto be deemed to be amended to delete the amount of “$5,000,000”
and insert in its place the amount of “$25,000,000);

(b)         Any Borrower or any Subsidiary fails to
perform or observe the terms of any agreement or instrument relating to such
Indebtedness and such failure continues, without having been duly cured, waived
or consented to, beyond the period of grace, if any, specified in such
agreement or instrument, and such failure permits the acceleration of such
Indebtedness;

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(c)          All or any part of such Indebtedness is
accelerated or becomes due or payable prior to its stated maturity (except with
respect to voluntary prepayments thereof) for any reason whatsoever; or

(d)         Any Lien on any property of any Borrower or
any Subsidiary securing any such Indebtedness is enforced by foreclosure or
similar action.

11.1.6                  Final Judgment.  Any one or more final judgments, orders or
decrees for the payment of money in excess of $10,000,000 (whether singly or in
the aggregate) to the extent not covered by insurance is rendered against any
Borrower or any Material Subsidiary and the Borrowers and the Material
Subsidiaries do not discharge the same or provide for its discharge in
accordance with its terms, or procure a stay of execution thereof pending
appeal, within forty-five (45) days after the date of entry thereof; or any
execution or attachment shall be issued whereby any substantial part of the
property of any Borrower or any Material Subsidiary shall be taken or attempted
to be taken and the same shall not have been vacated or stayed within
forty-five (45) days after the issuance thereof (provided that on the
Synthetic Lease Termination Effective Date, this Section 11.1.6
will automatically without further action of the parties hereto be deemed to be
amended to delete the amount of “$10,000,000” and insert in its place the
amount of “$25,000,000).

11.1.7                  Change of Control.  A Change of Control occurs.

11.1.8                  Enforceability, Etc.  Any Credit Document, including the Subsidiary
Guarantee, ceases for any reason (other than the scheduled termination thereof
in accordance with its terms) to be in full force and effect and enforceable in
accordance with its terms; or any party to any Credit Document shall so assert
in a judicial or similar proceeding; or any Obligor shall revoke the Subsidiary
Guarantee or other Credit Document to which such Obligor is a party or shall
deny any further liability or obligation thereunder; or any security interests
hereafter created by this Agreement or any other Credit Documents shall cease
to be enforceable and of the same effect and priority purported to be created
thereby.

11.1.9                  ERISA Events.

(a)          any ERISA Event if as a result of such ERISA
Event (i) an ERISA Group Person would be required to make a contribution to a
Pension Plan or would incur a liability or obligation to such Pension Plan in
excess of $10,000,000; or (ii) a contribution failure occurs with respect to
any Pension Plan sufficient to give rise to a Lien under Section 302(f) (or,
effective January 1, 2008, Section 303(k)) of ERISA or the assets of an ERISA
Group Person are encumbered pursuant to Section 412 of the Code or Section 306
(or, effective January 1, 2008, Section 302) of ERISA, where the liability
underlying such Lien or encumbrance is in excess of $ 10,000,000;

(b)         any ERISA Group Person shall have been
notified by the sponsor of a Multiemployer Plan that it has incurred Withdrawal
Liability to such Multiemployer Plan in an amount that, when aggregated with
all other amounts

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required to be paid to Multiemployer Plans by the ERISA Group Person as
Withdrawal Liability (determined as of the date of such notification), exceeds
$5,000,000 or requires payments exceeding $1,000,000 per annum; or

(c)          any ERISA Group Person shall have been
notified by the sponsor of a Multiemployer Plan that such Multiemployer Plan is
in reorganization or is being terminated, within the meaning of Title IV
of ERISA, and as a result of such reorganization or termination the aggregate
annual contributions of the ERISA Group Person to all Multiemployer Plans that
are then in reorganization or being terminated have been or will be increased
over the amounts contributed to such Multiemployer Plans for the plan years of
such Multiemployer Plans immediately preceding the plan year in which such
reorganization or termination occurs by an amount exceeding $10,000,000;

provided,
however, that an ERISA Event or a Withdrawal Liability described in
clauses (a) and (b) shall not be deemed an Event of Default if a bona fide
dispute exists as to such matter, the dispute is contested in good faith by
appropriate proceedings and the Borrowers have established on their financial
statements an adequate reserve for the amount in dispute in accordance with
GAAP (provided that on the Synthetic Lease Termination Effective Date,
clauses (a) and (c) of this Section 11.1.9 will each automatically
without further action of the parties hereto be deemed to each be amended to
delete the amount of “$10,000,000” and insert in its place the amount of “$35,000,000).

11.1.10              Bankruptcy,
Etc.  Any Obligor shall:

(a)          Commence a voluntary case under the
Bankruptcy Code or authorize, by appropriate proceedings of its board of
directors or other governing body, the commencement of such a voluntary case;

(b)         (i) Have filed against it a petition
commencing an involuntary case under the Bankruptcy Code that shall not have
been dismissed within sixty (60) days after the date on which such petition is
filed, or (ii) file an answer or other pleading within such sixty (60) day
period admitting or failing to deny the material allegations of such a petition
or seeking, consenting to or acquiescing in the relief therein provided, or
(iii) have entered against it an order for relief in any involuntary case
commenced under the Bankruptcy Code;

(c)          Seek relief as a debtor under any Applicable
Law, other than the Bankruptcy Code, of any jurisdiction relating to the
liquidation or reorganization of debtors or to the modification or alteration
of the rights of creditors, or consent to or acquiesce in such relief;

(d)         Have entered against it an order by a court of
competent jurisdiction (i) finding it to be bankrupt or insolvent,
(ii) ordering or approving its liquidation or reorganization as a debtor
or any modification or alteration of the rights of its creditors, or
(iii) assuming custody of, or appointing a receiver or other custodian
for, all or a substantial portion of its property;

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(e)          Have any dissolution or liquidation
proceeding not permitted by Section 9.15 instituted against it to which
such Obligor consents or acquiesces or which remains undismissed for more than
sixty (60) days, or commence any such proceeding which remains undismissed more
than sixty (60) days after such commencement; or

(f)            Make an assignment for the benefit of, or
enter into a composition with, its creditors, or appoint, or consent to the
appointment of, or suffer to exist a receiver or other custodian for, all or a
substantial portion of its property.

11.2                           Certain
Actions Following an Event of Default. 
If any one or more Events of Default occurs, then in each and every such
case:

11.2.1                  Terminate Obligation to Extend
Credit.  The Agent on behalf of the
Lenders may (and upon written request of Required Lenders the Agent shall)
terminate the obligations of the Lenders to make any further extensions of
credit under the Credit Documents by furnishing notice of such termination to
the Parent; provided, however, that if a Bankruptcy Default has
occurred, the obligations of the Lenders to make any further extensions of
credit under the Credit Documents shall automatically terminate.

11.2.2                  Specific Performance; Exercise of
Rights.  The Agent on behalf of the
Lenders may (and upon written request of Required Lenders the Agent shall)
proceed to protect and enforce the Lenders’ rights by suit in equity, action at
law or other appropriate proceeding, either for specific performance of any
covenant or condition contained in this Agreement or any other Credit Document
or in any instrument or assignment delivered to the Lenders pursuant to this
Agreement or any other Credit Document, or in aid of the exercise of any power
granted in this Agreement or any other Credit Document or any such instrument
or assignment.

11.2.3                  Acceleration.  The Agent on behalf of the Lenders may (and
upon written request of Required Lenders the Agent shall) by notice in writing
to the Parent (a) declare all or any part of the unpaid balance of the
Credit Obligations then outstanding to be immediately due and payable, and (b)
require the Borrowers immediately and without demand to deposit with each
applicable Issuing Bank in cash or Cash Equivalents an amount equal to 105% of
the then Letter of Credit Exposure related to each Letter of Credit issued by
such Issuing Bank, and thereupon such unpaid balance or part thereof and such
cash or Cash Equivalents in an amount equal to the Letter of Credit Exposure
shall become so due and payable without presentation, protest or further demand
or notice of any kind, all of which are hereby expressly waived; provided,
however, that if a Bankruptcy Default has occurred, the unpaid balance
of the Credit Obligations shall automatically become immediately due and
payable and the Borrowers shall be required immediately without demand to
deposit with each applicable Issuing Bank in cash or Cash Equivalents an amount
equal to 105% of the then Letter of Credit Exposure related to each Letter of
Credit issued by such Issuing Bank.

11.2.4                  Enforcement of Payment; Credit
Security; Setoff.  The Agent on
behalf of the Lenders may (and upon written request of Required Lenders the
Agent shall) proceed to enforce payment of the Credit Obligations in such
manner as it may elect and to realize

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upon any and all rights in any collateral securing the Credit
Obligations.  Each Issuing Bank may (and
upon written request of Required Lenders each Issuing Bank shall) proceed to
cancel any outstanding Letters of Credit issued by such Issuing Bank which
permit the cancellation thereof.  The
Lenders may offset and apply toward the payment of the Credit Obligations (or
toward the curing of any Event of Default) any Indebtedness from any Lender to
the respective Obligors, including any Indebtedness represented by deposits in
any account maintained with any Lender, regardless of the adequacy of any
security for the Credit Obligations.  The
Lenders shall have no duty to determine the adequacy of any such security in
connection with any such offset.

11.2.5                  Cumulative Remedies.  To the extent not prohibited by Applicable
Law which cannot be waived, all of the Agent’s and the Lenders’ rights
hereunder and under each other Credit Document shall be cumulative and not
exclusive of any remedies provided at law.

11.3                           Event
of Default; No Waiver.  No failure or
delay by the Agent, any Issuing Bank or any Lender in exercising any right or
power hereunder shall operate as a waiver thereof, nor shall any single or
partial exercise of any such right or power, or any abandonment or
discontinuance of steps to enforce such a right or power, preclude any other or
further exercise thereof or the exercise of any other right or power.  No waiver of any provision of this Agreement
or consent to any departure by the Borrowers therefrom shall in any event be
effective unless the same shall be permitted by Section 17, and then
such waiver or consent shall be effective only in the specific instance and for
the purpose for which given.  Without
limiting the generality of the foregoing, the making of a Loan or issuance of a
Letter of Credit shall not be construed as a waiver of any Default or Event of
Default, regardless of whether the Agent, any Issuing Bank or any Lender may have
had notice or knowledge of such Default or Event of Default at the time.

11.4                           Waivers.  To the extent that such waiver is not
prohibited by the provisions of Applicable Law that cannot be waived, each of
the Obligors waives:

(a)          all presentments, demands for performance,
notices of nonperformance (except to the extent required by this Agreement or
any other Credit Document), protests, notices of protest and notices of
dishonor;

(b)         any requirement of diligence or promptness on
the part of any Lender in the enforcement of its rights under this Agreement or
any other Credit Document;

(c)          any and all notices of every kind and
description which may be required to be given by any statute or rule of law;
and

(d)         any defense (other than indefeasible payment
in full) which it may now or hereafter have with respect to its liability under
this Agreement or any other Credit Document or with respect to the Credit
Obligations.

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12.                                 Expenses;
Indemnity.

12.1                           Expenses.  Whether or not the transactions contemplated
hereby are consummated, the Borrowers shall pay:

(a)          all reasonable expenses of the Agent
(including the out-of-pocket expenses related to forming the group of Lenders
and reasonable fees of and disbursements to the counsel to the Agent) in
connection with the preparation and duplication of this Agreement and each
other Credit Document, the transactions contemplated hereby and thereby, the
diligence performed by or on behalf of the Agent and its Affiliates, the
preparation of the commitment letter of Wells Fargo describing the revolving
credit facility provided for herein, the syndication of the revolving credit
facility provided for herein, fees and expenses related to the Platform, and
amendments, waivers, consents and other operations hereunder and thereunder, including
during any workout, restructuring or other negotiations with respect to the
Loans or Letters of Credit;

(b)         all recording and filing fees and transfer and
documentary stamp and similar taxes at any time payable in respect of this
Agreement or any other Credit Document; and

(c)          all other reasonable expenses incurred by the
Agent or any Lender or other holder of any Credit Obligation in connection with
the enforcement of any rights hereunder or under any other Credit Document,
including costs of collection and reasonable attorneys’ fees (including a
reasonable allowance for the hourly cost of attorneys employed by any Lender on
a salaried basis) and expenses.

12.2                           General
Indemnity.  The Borrowers shall
indemnify the Lenders and the Agent and hold them harmless from any liability,
loss or damage resulting from the violation by the Borrowers of Section 2.5
and from and against all losses, costs and expenses, incurred in liquidating or
employing deposits from third parties acquired or arranged, or in terminating
or unwinding any contract entered into, or order to effect or fund the whole or
any part of any drawing or any overdue amount hereunder incurred by any Lender
as a consequence of any Default or Event of Default or the repayment of any
amount due hereunder other than at the expiration of an Interest Period.  In addition, the Borrowers shall indemnify
each Lender, the Agent, each of the Lenders’ or the Agent’s directors, officers
and employees, and each Person, if any, who controls any Lender or the Agent
(each Lender, the Agent and each of such directors, officers, employees and
control Persons is referred to as an “Indemnified Party”) and hold each
of them harmless from and against any and all claims, damages, liabilities and
reasonable expenses (including reasonable fees of and disbursements to counsel
with whom any Indemnified Party may consult in connection therewith and all
reasonable expenses of litigation or preparation therefor) which any
Indemnified Party may incur or which may be asserted against any Indemnified
Party in connection with (a) the Indemnified Party’s compliance with or
contest of any subpoena or other process issued against it in any proceeding
involving any Borrower or any Subsidiary, or any of their Affiliates,
(b) any litigation or investigation involving any Borrower, any Subsidiary
or any of their Affiliates, or any officer, director or employee thereof,
(c) the existence or exercise of any security rights with respect to any
collateral for the Credit Obligations in accordance with the Credit Documents,
or (d) this Agreement, any other Credit Document or any transaction
contemplated hereby or thereby,

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including the he application of the proceeds of any of
the Loans made hereunder or of the payment or any presentation under any of the
Letters of Credit issued hereunder; provided, however, that the
foregoing indemnity shall not apply to litigation commenced by the Borrowers
against the Lenders or the Agent which seeks enforcement of any of the rights
of the Borrowers hereunder or under any other Credit Document and is determined
adversely to the Lenders or the Agent in a final nonappealable judgment or to
the extent such claims, damages, liabilities and expenses result from a Lender’s
or the Agent’s gross negligence or willful misconduct.

13.                                 The
Agent.

13.1                           Authorization
and Action.  Each Lender hereby
appoints and authorizes the Agent to take such action as agent on its behalf
and to exercise such powers and discretion under this Agreement and the other
Credit Documents as are delegated to the Agent by the terms hereof and thereof,
together with such powers and discretion as are reasonably incidental thereto.  The Agent shall be fully justified in failing
or refusing to take any action under this Agreement or under any of the other
Credit Documents unless it shall first receive such advice or concurrence of
Required Lenders as it deems appropriate or it shall first be indemnified to
its satisfaction by the Lenders against any and all liability and expense which
may be incurred by it by reason of taking or continuing to take any such action.  The Agent shall in all cases be fully
protected in acting, or in refraining from acting, hereunder or under any of
the other Credit Documents in accordance with the instructions of Required Lenders,
and such instructions shall be binding upon all Lenders; provided, however,
that the Agent shall not be required to take any action that, in its opinion or
the opinion of its counsel, may expose the Agent to liability or that is
contrary to this Agreement, any other Credit Document or Applicable Law.  The Agent shall not be deemed to have
knowledge or notice of the occurrence of a Default or Event of Default (other
than the nonpayment of principal or interest on the Loans or of fees payable
hereunder) unless the Agent has received notice from a Lender or a Borrower
specifying such Default or Event of Default and stating that such notice is a “notice
of default”.  In the event that the Agent
receives such a notice, the Agent shall give prompt notice thereof to the
Lenders.  The Agent shall take such
action with respect to such Default or Event of Default as shall be reasonably
directed by Required Lenders and as is permitted by the Credit Documents; provided,
that unless and until the Agent shall have received such directions, the Agent
may (but shall not be obligated to) take such action, or refrain from taking
such action, with respect to such Default or Event of Default as it shall deem
advisable in the best interest of the Lenders except to the extent that this
Agreement expressly requires that such action be taken, or not be taken, only
with the consent or upon the authorization of Required Lenders or of all
Lenders.  The provisions of this Section 13
are solely for the benefit of the Agent and the Lenders, and the Borrowers
shall not have rights as third-party beneficiaries of any of such provisions,
except as specifically set forth in this Section 13.

13.2                           Agent’s
Reliance, Etc.  Neither the Agent nor
any of its directors, officers, agents or employees shall be liable for any
action taken or omitted to be taken by it or them under or in connection with
the Credit Documents, except for its or their own gross negligence or willful
misconduct.  Without limitation of the
generality of the foregoing, the Agent: 
(a) may treat the payee of any Note as the holder thereof until the
Agent receives and accepts an Assignment and Acceptance entered into by the
Lender that is the payee of such Note, as assignor, and an Assignee, as
assignee, as provided in Section 14.1.1; (b) may consult with
legal counsel

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(including counsel for any Lender), independent public
accountants and other experts selected by it and shall not be liable for any
action taken or omitted to be taken in good faith by it in accordance with the
advice of such counsel, accountants or experts; (c) makes no warranty or
representation to any Lender and shall not be responsible to any Lender for any
statements, warranties or representations (whether written or oral) made by any
Obligor in or in connection with the Credit Documents or in any certificate,
report, document, financial statement or other written or oral statement
referred to or provided for in, or received by the Agent under or in connection
herewith or in connection with, the other Credit Documents; (d) shall not
have any duty to ascertain or to inquire as to the performance or observance of
any of the terms, covenants or conditions of any Credit Document or as to the
use of the proceeds of the Loans or the use of the Letters of Credit on the
part of any Lender; (e) shall not be responsible to any Lender for the due
execution, legality, validity, enforceability, genuineness, sufficiency or
value of, or the perfection or priority of any Lien created or purported to be
created under or in connection with, any Credit Document or any other
instrument or document furnished pursuant thereto or for the failure of any
Obligor to perform its respective obligations under the Credit Documents; and
(f) is entitled to rely, and shall be fully protected in relying, upon any
notice, consent, certificate, letter, resolution or other instrument or writing
(which may be by facsimile or similar electronic transmission) or conversation
believed by it to be genuine and signed, sent or made by the proper party or parties.  In determining compliance with any condition
hereunder to the making of a Loan, or the issuance of a Letter of Credit, that
by its terms must be fulfilled to the satisfaction of a Lender or an Issuing
Bank, the Agent may presume that such condition is satisfactory to such Lender
or Issuing Bank unless the Agent shall have received notice to the contrary
from such Lender or Issuing Bank prior to the making of such Loan or the
issuance of such Letter of Credit.  Each
Lender acknowledges and agrees that the Agent shall not have, by reason of this
Agreement, a fiduciary relationship in respect of any Lender; and nothing in
this Agreement, expressed or implied, is intended to or shall be so construed
as to create any express, implied or constructive trust relationship between
the Agent and any Lender and no implied covenants, functions, responsibilities,
duties, obligations or liabilities shall be read into this Agreement or any of
the other Credit Documents or shall otherwise exist against the Agent.

13.3                           Delegation
of Duties.  The Agent may perform any
and all of its duties and exercise its rights and powers hereunder or under any
other Credit Document by or through any one or more sub-agents appointed by the
Agent.  The Agent and any such sub-agent
may perform any and all of its duties and exercise its rights and powers by or
through their respective Affiliates.  The
exculpatory provisions of this Section 13 shall apply to any such
sub-agent and to the Affiliates of the Agent and any such sub-agent, and shall
apply to their respective activities in connection with the syndication of the
credit facilities provided for herein as well as activities as Agent.  The Agent shall not be responsible for the
negligence or misconduct of any sub-agent that it selects with reasonable care.

13.4                           Lender
Credit Decision; Agent in its Individual Capacity.  Each Lender acknowledges that it has,
independently and without reliance upon the Agent or any other Lender and based
on the financial statements referred to in Section 10.2 and such
other documents and information as it has deemed appropriate, made its own
credit analysis and decision to enter into this Agreement.  Each Lender also acknowledges that it will,
independently and without reliance upon the Agent or any other Lender and based
on such documents and information as it shall deem appropriate at the time,
continue to make its own credit decisions in taking or not taking

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action under this Agreement or any other Credit
Document.  Except as expressly provided
in this Agreement, the Agent shall not have any duty or responsibility, either
initially or on a continuing basis, to provide any Lender with any credit or
other information concerning the affairs, financial condition or business of
any Obligor (or any Affiliate thereof) which may come into the possession of
the Agent, whether coming into its possession before the making of any Loan or
the issuance of any Letter of Credit or at any time or times thereafter, or to
inspect the properties or books of any Obligor. 
The Agent and its Affiliates may (without having to account for the same
to any Lender) make Loans to, accept deposits from, and generally engage in any
kind of business with any Obligor as though the Agent were not the Agent
hereunder.  With respect to its obligations
to make Base Rate Loans and LIBOR Loans, the Base Rate Loans and LIBOR Loans
made by it, the Letters of Credit issued by it, and all obligations owing to
it, the Agent shall have the same rights and powers under this Agreement and
the other Credit Documents as any Lender and may exercise the same as though it
were not the Agent, and the terms “Issuing Bank”, “Issuing Banks”, “Lender” and
“Lenders” shall include the Agent in its individual capacity.  The Agent and its Affiliates may accept
deposits from, lend money to and generally engage in any kind of business with
any Obligor as if it were not the Agent.

13.5                           Indemnification.  Each Lender severally agrees to indemnify the
Agent (as Agent and as Issuing Bank) (to the extent not promptly reimbursed by
the Borrowers) to the extent of such Lender’s Percentage Interest from and
against any and all liabilities, obligations, losses, damages, penalties,
actions, judgments, suits, costs, expenses or disbursements of any kind or
nature whatsoever that may be imposed on, incurred by, or asserted against the
Agent in any way relating to or arising out of the Credit Documents or any
action taken or omitted by the Agent under the Credit Documents; provided,
however, that no Lender shall be liable for any portion of such
liabilities, obligations, losses, damages, penalties, actions, judgments,
suits, costs, expenses or disbursements resulting from the Agent’s gross
negligence or willful misconduct. 
Without limitation of the foregoing, each Lender agrees to reimburse the
Agent promptly upon demand for its Percentage Interest of any costs and
expenses (including reasonable fees and expenses of counsel) payable by the
Borrowers under Sections 12.1 or 12.2, to the extent that
the Agent is not promptly reimbursed for such costs and expenses by the
Borrowers.  The failure of any Lender to
reimburse the Agent promptly upon demand for its Percentage Interest of any
amount required to be paid by the Lender to the Agent as provided herein shall
not relieve any other Lender of its obligation hereunder to reimburse the Agent
for its Percentage Interest of such amount, but no Lender shall be responsible
for the failure of any other Lender to reimburse the Agent for such other
Lender’s Percentage Interest of such amount. 
Without prejudice to the survival of any other agreement of any Lender
hereunder, the agreement and obligations of each Lender contained in this Section 13.5
will survive the payment in full of principal, interest and all other amounts
payable hereunder and under the other Credit Documents.

13.6                           Successor
Agents.  The Agent may at any time
give notice of its resignation to the Lenders and the Borrowers.  Upon receipt of any such notice of
resignation, Required Lenders shall have the right, upon written notice to and
approval by the Borrowers as long as no Default or Event of Default exists,
which approval shall not be unreasonably withheld and shall be granted or
denied within five (5) Banking Days after receipt of such notice, to appoint a
successor, which shall be a bank with an office in the United States, or an
Affiliate of any such bank with an office in the United States.  If no such successor shall have been so
appointed by Required Lenders and shall have accepted such appointment within
thirty (30) days after the

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retiring Agent gives notice of its resignation, then
the retiring Agent may, on behalf of the Lenders, appoint a successor Agent
meeting the qualifications set forth above; provided that if the Agent
shall notify the Borrowers and the Lenders that no qualifying Person has
accepted such appointment, then such resignation shall nonetheless become
effective in accordance with such notice and (a) the retiring Agent shall be
discharged from its duties and obligations hereunder and under the other Credit
Documents, and (b) all payments, communications and determinations provided to
be made by, to or through the Agent shall instead be made by or to each Lender
directly, until such time as Required Lenders appoint a successor Agent as
provided for above in this Section 13.6.  Upon the acceptance of a successor’s
appointment as Agent hereunder, such successor shall succeed to and become
vested with all of the rights, powers, privileges and duties of the retiring
(or retired) Agent, and the retiring Agent shall be discharged from all of its
duties and obligations hereunder or under the other Credit Documents (if not
already discharged therefrom as provided above in this Section 13.6).  The fees payable by the Borrowers to a
successor Agent shall be the same as those payable to its predecessor unless
otherwise agreed between the Borrowers and such successor.  After the retiring Agent’s resignation
hereunder and under the other Credit Documents, the provisions of Section 12
and this Section 13 shall continue in effect for the benefit of
such retiring Agent, its sub-agents and their respective Affiliates in respect
of any actions taken or omitted to be taken by any of them while the retiring
Agent was acting as Agent.  Any
resignation by Wells Fargo as Agent pursuant to this Section 13.6
shall also constitute its resignation as Swing Line Lender.  Upon the acceptance of a successor’s
appointment as Agent hereunder, (a) such successor shall succeed to and become
vested with all of the rights, powers, privileges and duties of the retiring
Swing Line Lender and (b) the retiring Swing Line Lender shall be discharged
from all of its respective duties and obligations hereunder or under the other
Credit Documents.

13.7                           Agent
May File Proofs of Claim.  In case of
the pendency of any proceeding under the Bankruptcy Code or other Applicable
Insolvency Laws relative to the Borrowers, the Agent (irrespective of whether
the principal of any Loan or Credit Obligation shall then be due and payable as
herein expressed or by declaration or otherwise and irrespective of whether the
Agent shall have made any demand on the Borrowers) shall be entitled and
empowered, by intervention in such proceeding or otherwise:

13.7.1                  to file and prove a claim for the
whole amount of the principal and interest owing and unpaid in respect of the
Loans and Credit 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 Agent (including any claim for the reasonable compensation,
expenses, disbursements and advances of the Lenders and the Agent and their
respective agents and counsel and all other amounts due the Lenders and the
Agent under Sections 3.3 and 12) allowed in such judicial
proceeding; and

13.7.2                  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
Agent and, in the event that the Agent shall consent to the making of such
payments directly to the Lenders, to pay to the Agent any amount due for the
reasonable compensation, expenses, disbursements and advances of the Agent and
its agents and counsel, and any other amounts due

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the Agent under Sections 3.3 and 12.  Nothing contained herein shall be deemed to
authorize the 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 Credit Obligations or the rights of any Lender to authorize the
Agent to vote in respect of the claim of any Lender in any such proceeding.

14.                                 Successors
and Assigns; Lender Assignments and Participations.  Any reference in this Agreement or any other
Credit Document to any of the parties hereto shall be deemed to include the
successors and assigns of such party, and all covenants and agreements by or on
behalf of the Obligors, the Agent or the Lenders that are contained in this
Agreement or any other Credit Document shall bind and inure to the benefit of
their respective successors and assigns; provided, however, that
(a) the Obligors may not assign their rights or obligations under this
Agreement or any other Credit Document, and (b) the Lenders will not be
entitled to assign their respective Percentage Interests in the credits
extended hereunder or their Commitments except as set forth below in this Section 14.

14.1                           Assignments
by Lenders.

14.1.1                  Assignees and Assignment
Procedures.  Each Lender may
(a) without the consent of the Agent, any Issuing Bank, the Swing Line
Lender or the Borrowers if the proposed assignee is already a Lender hereunder
or a wholly owned subsidiary of the same corporate parent of which the
assigning Lender is a subsidiary, or (b) otherwise with the consent, not
to be unreasonably withheld, of the Agent, each Issuing Bank (to the extent
such Issuing Bank is the issuer of a then outstanding Letter of Credit under
which there is any undrawn availability or as to which any prior draw thereon
has not been reimbursed to such Issuing Bank), (3) the Swing Line Lender and
(4) the Parent (provided that the Parent’s consent shall not be requested if a
Default or Event of Default has occurred and is then continuing), in each case
in compliance with Applicable Laws in connection with such assignment, assign
to one or more commercial banks or other financial institutions (each, an “Assignee”)
all or a portion of its interests, rights and obligations under this Agreement
and the other Credit Documents, including all or a portion of its Commitment,
its Percentage Interest in the aggregate principal amount of the Loans and
Letter of Credit Exposure then outstanding; provided, however,
that:

(i)                                     no
such assignment shall be for less than $10,000,000 of the assigning Lender’s
Commitment plus additional increments of no less than $1,000,000, and the
remaining Commitment of the assigning Lender after giving effect to such assignment
shall be equal to zero or not less than $10,000,000; and

(ii)                                  the
parties to each such assignment will execute and deliver to the Agent an
Assignment and Acceptance (the “Assignment and Acceptance”)
substantially in the form of Exhibit 14.1.1, together with the Note
subject to such assignment and a processing and recordation fee of $5,000
payable to the Agent by the assigning Lender or the Assignee.

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Upon acceptance and
recording pursuant to Section 14.1.4, from and after the effective
date specified in each Assignment and Acceptance (which effective date will be
at least five (5) Banking Days after the execution thereof unless waived by the
Agent):

(A)                              the
Assignee will be a party hereto and, to the extent provided in such Assignment
and Acceptance, have the rights and obligations of a Lender under this
Agreement, and

(B)                                the
assigning Lender will, to the extent provided in such assignment, be released
from its obligations under this Agreement (and, in the case of an Assignment
and Acceptance covering all or the remaining portion of an assigning Lender’s
rights and obligations under this Agreement, such Lender will cease to be a
party hereto but will continue to be entitled to the benefits of Sections 3.2.4,
3.5 and 12, as well as to any fees accrued for its account
hereunder and not yet paid).

14.1.2                  Terms of Assignment and Acceptance.  By executing and delivering an Assignment and
Acceptance, the assigning Lender and the Assignee will be deemed to confirm to
and agree with each other and the other parties hereto as follows:

(a)          other than the representation and warranty
that it is the legal and beneficial owner of the interest being assigned
thereby free and clear of any adverse claim, such assigning Lender makes no
representation or warranty and assumes no responsibility with respect to any
statements, warranties or representations made in or in connection with this
Agreement or the execution, legality, validity, enforceability, genuineness,
sufficiency or value of, or the perfection or priority of any Lien created or
purported to be created under or in connection with, this Agreement, any other
Credit Document or any other instrument or document furnished pursuant hereto;

(b)         such assigning Lender makes no representation
or warranty and assumes no responsibility with respect to the financial
condition of any Borrower, any of its Subsidiaries or any other Obligor or the
performance or observance by any Borrower, any of its Subsidiaries or any other
Obligor of any of its obligations under this Agreement, any other Credit
Document or any other instrument or document furnished pursuant hereto;

(c)          such Assignee confirms that it has received a
copy of this Agreement, together with copies of the most recent financial
statements delivered pursuant to Section 9.3 and such other
documents and information as it has deemed appropriate to make its own credit
analysis and decision to enter into such Assignment and Acceptance;

(d)         such Assignee will independently and without
reliance upon the Agent, such assigning Lender or any other Lender, and based
on such documents and information as it deems appropriate at the time, continue
to make its own credit decisions in taking or not taking action under this
Agreement;

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(e)          such Assignee appoints and authorizes the
Agent to take such action as agent on its behalf and to exercise such powers
and discretion under the Credit Documents as are delegated to the Agent by the
terms hereof, together with such powers and discretion as are reasonably
incidental thereto; and

(f)            such Assignee agrees that it will perform
in accordance with the terms of this Agreement and the other Credit Documents
all the obligations which are required to be performed by it as a Lender.

14.1.3                  Register.  The Agent will maintain at the Denver Office
a register (the “Register”) for the recordation of (a) the names
and addresses of the Lenders and the Assignees which assume rights and
obligations pursuant to an assignment under Section 14.1.1,
(b) the Percentage Interest of each Lender, and (c) the amount of the
Loans owing to each Lender from time to time. 
The entries in the Register shall be conclusive, in the absence of
manifest error, and the Borrowers, the Agent and the Lenders may treat each
Person whose name is registered therein for all purposes as a party to this
Agreement.  The Register will be
available for inspection by the Borrowers or any Lender at any reasonable time
and from time to time upon reasonable prior notice.

14.1.4                  Acceptance of Assignment and
Assumption.  Upon its receipt of a
completed Assignment and Acceptance executed by an assigning Lender, an
Assignee and the Parent, if applicable, together with the Note (if any) subject
to such assignment, and the processing and recordation fee referred to in Section 14.1.1,
the Agent will (a) accept such Assignment and Acceptance, (b) record
the information contained therein in the Register, and (c) give prompt
notice thereof to the Borrowers.  Within
five (5) Banking Days after receipt of notice, the Borrowers, at their own
expense, will execute and deliver to the Agent, in exchange for the surrendered
Note (if any), a new Note (if requested by such Assignee) to the order of such
Assignee in a principal amount equal to the applicable Commitment assumed by it
pursuant to such Assignment and Acceptance and, if the assigning Lender has
retained a Commitment and a portion of the Loans, a new Note (if requested by
such assigning Lender) to the order of such assigning Lender in a principal
amount equal to the applicable Commitment. 
Subject to the foregoing, such new Note will be in an aggregate
principal amount equal to the aggregate principal amount of such surrendered
Note, and will be dated the date of the surrendered Note which it replaces.

14.1.5                  Federal Reserve Bank.  Notwithstanding the foregoing provisions of
this Section 14, any Lender may at any time pledge or assign all or
any portion of such Lender’s rights under this Agreement and the other Credit
Documents to a Federal Reserve Bank; provided, however, that no
such pledge or assignment will release such Lender from such Lender’s
obligations hereunder or under any other Credit Document.

14.1.6                  Further Assurances.  The Obligors shall sign such documents and
take such other actions from time to time reasonably requested by an Assignee
to enable it to share in the benefits of the rights created by the Credit
Documents.

14.2                           Credit
Participants.  Each Lender may,
without the consent of the Borrowers or the Agent, in compliance with
Applicable Laws in connection with such participation, sell to one

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or more commercial banks or other financial
institutions (each a “Credit Participant”) participations in all or a
portion of its interests, rights and obligations under this Agreement and the
other Credit Documents (including all or a portion of its Commitment, and the
portion of the Loans owing to it and the Note held by it); provided, however,
that:

(a)          such Lender’s obligations under this
Agreement will remain unchanged;

(b)         such Lender will remain solely responsible to
the other parties hereto for the performance of such obligations;

(c)          the Credit Participant will be entitled to
the benefit of the cost protection provisions contained in Sections 3.2.4,
12.1(c) and 12.2, but will not be entitled to receive any greater
payment thereunder than such Lender would have been entitled to receive with
respect to the interest so sold if such interest had not been sold; and

(d)         the Borrowers, the Agent and the other Lenders
will continue to deal solely and directly with such Lender in connection with
such Lender’s rights and obligations under this Agreement, and such Lender will
retain the sole right as one of the Lenders to vote with respect to the
enforcement of the obligations of the Borrowers under the Credit Documents and
the approval of any amendment, modification or waiver of any provision of this
Agreement or any other Credit Documents.

Each Obligor agrees, to the fullest extent permitted
by Applicable Law, that any Credit Participant and any Lender purchasing a
participation from another Lender pursuant to Section 14.2 may
exercise all rights of payment (including the right of set-off), with respect
to its participation as fully as if such Credit Participant or such Lender were
the direct creditor of the Obligors and a Lender hereunder in the amount of
such participation.

15.                                 Confidentiality.  Each Lender will make no disclosure of
confidential information furnished to it by the Borrowers or any of their
Subsidiaries, and identified as such, unless such information has become
public, except:

(a)          in connection with operations under or the
enforcement of this Agreement or any other Credit Document, to Persons who have
a reasonable need to be furnished such confidential information and who agree
to comply with the restrictions contained in this Section 15 with
respect to such information and to the extent such disclosure does not violate
any Applicable Laws;

(b)         pursuant to any statutory or regulatory
requirement or any mandatory court order, subpoena or other legal process;

(c)          to any parent or corporate Affiliate of such
Lender or to any Credit Participant, proposed Credit Participant or proposed
Assignee; provided, however, that any such Person agrees to
comply with the restrictions set forth in

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this Section 15 with respect to such information and to the
extent such disclosure does not violate any Applicable Laws;

(d)         to its independent counsel, auditors and other
professional advisors with an instruction to such Person to keep such
information confidential;

(e)          to any direct or indirect contractual
counterparty in any securitization, swap agreement or hedging arrangement or to
such contractual counterparty’s professional advisors with an instruction to
such Person to keep such information confidential;

(f)            with respect to confidential information
related to the tax treatment and tax structure of the transactions contemplated
by the Credit Documents and all materials of any kind (including opinions or
other tax analyses) that are provided to such Lender relating to such tax
treatment and tax structure; provided, however, that such
disclosure may not be made to the extent required to be kept confidential to
comply with any applicable federal or state securities laws; or

(g)         with the prior written consent of the Parent,
to any other Person.

16.                                 Notices.

16.1                           General.
 Except as otherwise specified in this
Agreement or any other Credit Document, any notice required to be given
pursuant to this Agreement or any other Credit Document shall be given in
writing.  Any notice, consent, approval,
demand or other communication in connection with this Agreement or any other
Credit Document shall be deemed to be given if given in writing (including
e-mail, facsimile or similar electronic transmission) addressed as provided
below (or to the addressee at such other address as the addressee has specified
by notice actually received by the addressor) and if either (a) actually
delivered in fully legible form to such address, or (b) in the case of a
letter, five (5) days have elapsed after the same has been deposited in the United
States mail, with first-class postage prepaid and registered or certified.

If to the Borrowers, or any of their Subsidiaries or
any other Obligor, to the Parent at:

CH2M Hill Companies, Ltd.

9191 South Jamaica Street

Englewood, CO 80112

ATTN:  Treasurer 

Facsimile:  (720) 216-9248

If to any Lender or the
Agent, to it at its address set forth in the Register, with a copy to the Agent.

16.2                           Electronic
Posting.  Each Borrower agrees that
the Agent may make any material delivered by any Borrower to the Agent, as well
as any amendments, waivers, consents, and other written information, documents,
instruments and other materials relating to any Borrower, any Borrower’s
Subsidiaries, or any other materials or matters relating to this Agreement, the

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Notes or any of the transactions contemplated hereby
(collectively, the “Communications”) available to the Lenders by posting
such notices on an electronic delivery system (which may be provided by the
Agent, an Affiliate of the Agent, or any Person that is not an Affiliate of the
Agent), such as IntraLinks, or a substantially similar electronic system (the “Platform”).  Each Borrower acknowledges that (i) the
distribution of material through an electronic medium is not necessarily secure
and that there are confidentiality and other risks associated with such
distribution, (ii) the Platform is provided “as is” and “as available” and
(iii) neither the Agent nor any of its Affiliates warrants the accuracy,
completeness, timeliness, sufficiency, or sequencing of the Communications
posted on the Platform.  The Agent and
its Affiliates expressly disclaim with respect to the Platform any liability
for errors in transmission, incorrect or incomplete downloading, delays in
posting or delivery, or problems accessing the Communications posted on the
Platform and any liability for any losses, costs, expenses or liabilities that
may be suffered or incurred in connection with the Platform.  No warranty of any kind, express, implied or
statutory, including any warranty of merchantability, fitness for a particular
purpose, non-infringement of third party rights or freedom from viruses or
other code defects, is made by the Agent or any of its Affiliates in connection
with the Platform.  Each Lender agrees
that notice to it (as provided in the next sentence) (a “Notice”)
specifying that any Communication has been posted to the Platform shall for
purposes of this Agreement constitute effective delivery to such Lender of such
information, documents or other materials comprising such Communication.  Each Lender agrees (i) to notify, on or
before the date such Lender becomes a party to this Agreement, the Agent in
writing of such Lender’s e-mail address to which a Notice may be sent (and from
time to time thereafter to ensure that the Agent has on record an effective
e-mail address for such Lender) and (ii) that any Notice may be sent to such
e-mail address.

17.                                 Course
of Dealing; Amendments and Waivers. No course of dealing between any Lender
or the Agent, on one hand, and any Obligor, on the other hand, will operate as
a waiver of any of the Lenders’ or the Agent’s rights under this Agreement or
any other Credit Document or with respect to the Credit Obligations.  Each of the Obligors acknowledges that if the
Lenders or the Agent, without being required to do so by this Agreement or any
other Credit Document, give any notice or information to, or obtain any consent
from, any Obligor, the Lenders and the Agent shall not by implication have
amended, waived or modified any provision of this Agreement or any other Credit
Document, or created any duty to give any such notice or information or to obey
such consent on any future occasion.  No
delay or omission on the part of any Lender or the Agent in exercising any
right under this Agreement or any other Credit Document or with respect to the
Credit Obligations shall operate as a waiver of such right or any other right
hereunder or thereunder.  A waiver on any
one occasion shall not be construed as a bar to or waiver of any right or
remedy on any future occasion.  No
waiver, consent or amendment with respect to this Agreement or any other Credit
Document shall be binding unless it is in writing and signed by the Agent or
Required Lenders.

Any term, covenant, agreement or condition of any
Credit Document may be amended or waived if such amendment or waiver is in
writing and is signed by Required Lenders (or by the Agent with written consent
of Required Lenders), the Borrowers and any other party thereto; provided,
however, that any amendment, waiver or consent which affects the rights
or duties of the Agent, the Swing Line Lender or an Issuing Bank must be in
writing and be signed also by the affected Agent, Swing Line Lender or Issuing
Bank; and provided  further, that any

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amendment, waiver or
consent which effects any of the following changes must be in writing and
signed by all Lenders (or by the Agent with the written consent of all
Lenders):

(a)          increases the Maximum Amount of Credit
available;

(b)         extends the Final Maturity Date;

(c)          reduces the principal of, or interest on, any
Loan or any fees or other amounts payable for the account of the Lenders;

(d)         postpones or conditions any date fixed for any
payment of the principal of, or interest on, any Loan or any fees or other
amounts payable for the account of the Lenders;

(e)          waives or amends this Section 17;

(f)            amends the definition of Required Lenders
or any provision of this Agreement requiring approval of Required Lenders or
some other specified amount of Lenders;

(g)         increases or decreases the Commitment or the
Percentage Interest of any Lender (other than through an assignment under Section
14);

(h)         releases the Subsidiary Guarantee except as
permitted under Section 6; or

(i)             waives any of the conditions set forth in Section
8.

Unless otherwise specified in such waiver or consent,
a waiver or consent given hereunder shall be effective only in the specific
instance and for the specific purpose for which given.

18.                                 Defeasance.  When all Credit Obligations have been paid,
performed and reasonably determined by the Lenders to have been indefensibly
discharged in full, and if at the time no Lender continues to be committed to
extend any credit to the Borrowers hereunder or under any other Credit
Document, this Agreement and the other Credit Documents will terminate; provided,
however, that Sections 3.2.4, 3.5, 12, 13,
15, 18, 19 and 20 will survive the termination of
this Agreement.

19.                                 Venue;
Service of Process.  Each of the
Obligors:

(a)          Irrevocably submits to the nonexclusive
jurisdiction of the state courts of the State of New York and to the
nonexclusive jurisdiction of the United States District Court for the Southern
District of New York for the purpose of any suit, action or other proceeding
arising out of or based upon this Agreement or any other Credit Document or the
subject matter hereof or thereof; and

(b)         Waives to the extent not prohibited by
Applicable Law that cannot be waived, and agrees not to assert, by way of
motion, as a defense or otherwise, in any such proceeding brought in any of the
above-named courts, any claim that it

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is not subject personally to the jurisdiction of such court, that its
property is exempt or immune from attachment or execution, that such proceeding
is brought in an inconvenient forum, that the venue of such proceeding is improper,
or that this Agreement or any other Credit Document, or the subject matter
hereof or thereof, may not be enforced in or by such court.

Each of the Obligors consents to service of process in
any such proceeding in any manner at the time permitted by the laws of the
State of New York and agrees that service of process by registered or certified
mail, return receipt requested, at its address specified in or pursuant to Section 16
is reasonably calculated to give actual notice.

20.                                 WAIVER
OF JURY TRIAL.  TO THE EXTENT NOT
PROHIBITED BY APPLICABLE LAW THAT CANNOT BE WAIVED, EACH OF THE OBLIGORS, THE
AGENT AND THE LENDERS WAIVES, AND COVENANTS THAT IT WILL NOT ASSERT (WHETHER AS
PLAINTIFF, DEFENDANT OR OTHERWISE), ANY RIGHT TO TRIAL BY JURY IN ANY FORUM IN
RESPECT OF ANY ISSUE, CLAIM, DEMAND, PROCEEDING OR ACTION ARISING OUT OF OR
BASED UPON THIS AGREEMENT OR ANY OTHER CREDIT DOCUMENT OR THE SUBJECT MATTER
HEREOF OR THEREOF OR ANY CREDIT OBLIGATION OR IN ANY WAY CONNECTED WITH THE
DEALINGS OF THE LENDERS, THE AGENT OR ANY OBLIGOR IN CONNECTION WITH ANY OF THE
ABOVE, IN EACH CASE WHETHER NOW EXISTING OR HEREAFTER ARISING AND WHETHER IN
CONTRACT, TORT OR OTHERWISE.  Each of the
Obligors acknowledges that it has been informed by the Agent that the
provisions of this Section 20 constitute a material inducement upon
which each of the Lenders has relied, is relying and will rely in entering into
this Agreement and any other Credit Document, and that it has reviewed the
provisions of this Section 20 with its counsel.  Any Lender, the Agent or any Obligor may file
an original counterpart or a copy of this Section 20 with any court
as written evidence of the consent of each Obligor, the Agent and each Lender
to the waiver of their rights to trial by jury.

21.                                 Judgment
Currency.

21.1                           Conversion
Requirements.  Each Obligor’s
obligations under the Credit Documents to make payments in United States
Dollars or in the applicable Foreign Currency (the “Obligation Currency”)
shall not be discharged or satisfied by any tender or recovery pursuant to any
judgment expressed in or converted into any currency other than the Obligation
Currency, except to the extent that such tender or recovery results in the
effective receipt by the Agent or a Lender of the full amount of the Obligation
Currency expressed to be payable to the Agent or such Lender under the Credit
Documents.  If, for the purpose of
obtaining or enforcing a judgment against any Obligor in any court or in any
jurisdiction, it becomes necessary to convert into or from any currency other
than the Obligation Currency (such other currency being hereinafter referred to
as the “Judgment Currency”) an amount due in the Obligation Currency,
the conversion shall be made, at the U.S. Dollar Equivalent, determined in each
case as of the Banking Day immediately preceding the day on which the judgment
is given (such Banking Day being hereinafter referred to as the “Judgment
Currency Conversion Date”).

21.2                           Change
in Rate of Exchange.  If there is a
change in the rate of exchange prevailing between the Judgment Currency
Conversion Date and the date of actual payment of the amount due, such amount
payable by the applicable Obligor shall be reduced or increased, as

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applicable, such that the amount paid in the Judgment
Currency, when converted at the rate of exchange prevailing on the date of
payment, will produce the amount of the Obligation Currency which could have
been purchased with the amount of Judgment Currency stipulated in the judgment
or judicial award at the rate of exchange prevailing on the Judgment Currency
Conversion Date.

22.                                 Setoff.  In addition to any rights and remedies of the
Lenders provided by law, each Lender shall have the right, with the prior
written consent of the Agent but without prior notice to the Borrowers, any
such notice being expressly waived by the Borrowers to the extent permitted by
Applicable Law, upon the occurrence and during the continuance of a Default or
Event of Default, to set-off and apply against any indebtedness, whether
matured or unmatured, of the Borrowers to such Lender, any amount owing from
such Lender or any Affiliate thereof to any Borrower, at or at any time after,
the happening of any of the above mentioned events.  The aforesaid right of set-off may be
exercised by such Lender against any such Borrower or against any trustee in
bankruptcy, debtor in possession, assignee for the benefit of creditors,
receiver or execution, judgment or attachment creditor of such Borrower or
against anyone else claiming through or against such Borrower or such trustee
in bankruptcy, debtor in possession, assignee for the benefit of creditors,
receiver, or execution, judgment or attachment creditor, notwithstanding the
fact that such right of set-off has not been exercised by such Lender prior to
the occurrence of a Default or Event of Default.  Each Lender agrees promptly to notify the
Parent after any such set-off and application made by such Lender, provided
that the failure to give such notice shall not affect the validity of such
set-off and application.

23.                                 No
Third Party Beneficiaries.  This
Agreement is made and entered into for the sole protection and benefit of the
parties hereto and their respective permitted successors and assigns, and no
other person or entity shall be a third party beneficiary of, or have any
direct or indirect cause of action or claim in connection with, any of the
Credit Documents to which it is not a party.

24.                                 Further
Assurances.  Each Lender and each
Borrower shall, and each Borrower shall cause each Subsidiary to, promptly
correct any defect or error that may be discovered in any Credit Document.  At the Agent’s request from time to time, the
Borrowers, at their expense, shall execute and deliver to the Agent such
further agreements, documents and instruments and do or cause to be done such
further acts as may reasonably be necessary or proper to effectuate the
provisions or purposes of the Credit Documents.

25.                                 General.  This Agreement amends and restates in its
entirety the Original Credit Agreement. 
All covenants, agreements, representations and warranties made in this
Agreement or any other Credit Document or in certificates delivered pursuant
hereto or thereto shall be deemed to have been relied on by the Agent and each
Lender, notwithstanding any investigation made by the Agent or any Lender on
its behalf, and shall survive the execution and delivery to the Agent and the
Lenders hereof and thereof.  If any
provision of this Agreement is prohibited by or invalid under Applicable Law,
such provision shall be ineffective only to the extent of such prohibition or
invalidity without invalidating the remainder of such provision or any
remaining provisions of this Agreement. 
The headings in this Agreement are for convenience of reference only and
will not limit or otherwise affect the meaning hereof.  With respect to the exercise of its
discretion, each Lender will act in good faith. 
This Agreement and the other Credit Documents (including the Fee Letter
and any other related fee agreements with the Agent or the Lenders)

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constitute the entire understanding of the parties
with respect to the subject matter hereof and thereof and supersede all prior
and contemporaneous understandings and agreements, whether written or oral
(including the Original Credit Agreement). 
This Agreement may be executed in any number of counterparts which
together will constitute one instrument. 
Delivery of an
executed counterpart of this Agreement by facsimile or “PDF” format shall be
equally as effective as delivery of an original executed counterpart of this
Agreement.  Any party delivering an
executed counterpart of this Agreement by facsimile or “PDF” format also shall
deliver an original executed counterpart of this Agreement but the failure to
deliver an original executed counterpart shall not affect the validity,
enforceability, and binding effect of this Agreement.  This Agreement shall be governed by and
construed in accordance with the laws (other than the conflict of laws rules)
of the State of New York.  Each
Borrower hereby acknowledges that (a) it has been advised by counsel in the
negotiation, execution and delivery of this Agreement and the other Credit
Documents, (b) neither the Agent nor any Lender has any fiduciary relationship
to such Borrower, the relationship being solely that of debtor and creditor,
(c) no joint venture exists between such Borrower and the Agent or any Lender,
and (d) neither the Agent nor any Lender undertakes any responsibility to such
Borrower to review or inform such Borrower of any matter in connection with any
phase of the business or operations of such Borrower and such Borrower shall
rely entirely upon its own judgment with respect to its business, and any
review, inspection or supervision of, or information supplied to, the Borrowers
by the Agent or any Lender is for the protection of the Agent and the Lenders
and neither such Borrower nor any third party is entitled to rely thereon.

[Remainder of this page intentionally left blank.]

 93

Each of the undersigned has caused this Agreement to
be executed and delivered by its duly authorized officer as an agreement under
seal as of the date first above written.

BORROWERS:

	
  CH2M HILL COMPANIES, LTD.

  	
  CH2M HILL, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
  By:

  	
   /s/ Brian R.
  Shelton

  	
   

  	
  By:

  	
   /s/ Brian R.
  Shelton

  	
   

  
	
  Name: Brian R. Shelton

  	
  Name: Brian R. Shelton

  
	
  Title: Treasurer

  	
  Title: Treasurer

  
	
   

  	
   

  
	
  CH2M HILL INDUSTRIAL DESIGN &

  CONSTRUCTION, INC.

  	
  OPERATIONS MANAGEMENT

  INTERNATIONAL, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
  By:

  	
   /s/ Brian R.
  Shelton

  	
   

  	
  By:

  	
   /s/ Brian R.
  Shelton

  	
   

  
	
  Name: Brian R. Shelton

  	
  Name: Brian R. Shelton

  
	
  Title: Vice President

  	
  Title: Treasurer

  
	
   

  	
   

  
	
  CH2M HILL CONSTRUCTORS, INC.

  	
  CH2M HILL GLOBAL, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
  By:

  	
   /s/ Brian R.
  Shelton

  	
   

  	
  By:

  	
   /s/ Brian R.
  Shelton

  	
   

  
	
  Name: Brian R. Shelton

  	
  Name: Brian R. Shelton

  
	
  Title: Treasurer

  	
  Title: Treasurer

  

 

[Signature Page to
Credit Agreement]

 

	
  LENDERS:

  	
   

  
	
  WELLS FARGO BANK, NATIONAL 

  ASSOCIATION

  	
  U.S. BANK NATIONAL ASSOCIATION

  
	
   

  	
   

  
	
   

  	
   

  
	
  By:

  	
  /s/ Kenneth D. Brown

  	
   

  	
  By:

  	
  /s/ Jacob Payne

  	
   

  
	
  Name:  Kenneth
  D. Brown

  	
  Name:  Jacob
  Payne

  
	
  Title:  Vice
  President

  	
  Title:  Vice
  President

  
	
   

  	
   

  
	
  BANK OF AMERICA, N.A.

  	
  THE BANK OF TOKYO-MITSUBISHI UFJ, LTD.

  
	
   

  	
   

  
	
   

  	
   

  
	
  By:

  	
  /s/ Jonathan M. Phillips

  	
   

  	
  By:

  	
  /s/ Tatsuro Miyazaki

  	
   

  
	
  Name: 
  Jonathan M. Phillips

  	
  Name:  Tatsuro
  Miyazaki

  
	
  Title:  Vice
  President

  	
  Title:  Deputy
  General Manager

  
	
   

  	
   

  
	
  JP MORGAN CHASE BANK, N.A.

  	
  THE NORTHERN TRUST COMPANY

  
	
   

  	
   

  
	
   

  	
   

  
	
  By:

  	
  /s/ Karen Lowe

  	
   

  	
  By:

  	
  /s/ Brandon Rolek

  	
   

  
	
  Name:  Karen
  Lowe

  	
  Name:  Brandon
  Rolek

  
	
  Title:  Senior
  Vice President

  	
  Title:  Vice
  President

  
	
   

  	
   

  
	
  COMMERZBANK AG, NEW YORK

  AND GRAND CAYMAN BRANCHES

  	
  BNP PARIBAS

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
   

  	
  /s/ Katherine Wolfe

  	
   

  
	
  By:

  	
  /s/ Yangling J. Si

  	
   

  	
  Name:

  	
   

  	
  Katherine Wolfe

  	
   

  
	
  Name:

  	
  Yangling J. Si

  	
   

  	
  Title:

  	
   

  	
   

  	
  Managing Director

  	
   

  
	
  Title:

  	
   

  	
  Vice President

  	
   

  	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
   

  	
  /s/ Sandy Bertram

  	
   

  
	
  By:

  	
  /s/ Matthew Havens

  	
   

  	
  Name:

  	
   

  	
  Sandy Bertram

  	
   

  
	
  Name:

  	
  Matthew Havens

  	
   

  	
  Title:

  	
   

  	
  Vice President

  	
   

  
	
  Title:

  	
   

  	
  Assistant Treasurer

  	
   

  	
   

  	
   

  
	
   

  	
   

  
	
  LASALLE BANK NATIONAL 

  ASSOCIATION

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  By:

  	
  /s/ Steve Trepiccione

  	
   

  	
   

  
	
  Name:  Steve
  Trepiccione

  	
   

  
	
  Title:  Senior
  Vice President

  	
   

  
																				

 

[Signature Page to Credit
Agreement]

 

	
  AGENT:

  	
   

  
	
  WELLS FARGO BANK, NATIONAL

  ASSOCIATION

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  By:

  	
  /s/ Kenneth D. Brown

  	
   

  	
   

  
	
  Name:  Kenneth
  D. Brown

  	
   

  
	
  Title:  Vice
  President

  	
   

  
				

 

[Signature Page to Credit
Agreement]

SCHEDULE 1

List of Lenders

 

 

 1

SCHEDULE
2

Outstanding Principal
Amounts

Loans

 

 2

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00129-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00129-of-00352.parquet"}]]