Document:

Credit Agreement

AMENDED AND RESTATED CREDIT AGREEMENT
Dated as of May 21, 2002

among

AUTOZONE, INC.,

as Borrower,

THE SEVERAL LENDERS

FROM TIME TO TIME PARTY HERETO

and

FLEET NATIONAL BANK,

as Administrative Agent

and

JPMORGAN CHASE BANK,

as Syndication Agent

 

_____________________________________________________________________________

J.P. MORGAN SECURITIES INC.,

BANC OF AMERICA SECURITIES LLC

and

FLEET SECURITIES, INC.,

as

Lead Arrangers and Book Managers

with

BANK OF AMERICA, N.A.,

CITIBANK, N.A.

and

SUNTRUST BANK

as Documentation Agents

TABLE OF CONTENTS

Page

	
SECTION

	 	
1

	 	DEFINITIONS...........................................................................	.........................................................	
6

	
1.1

	 	 	 	   Definitions................................................................................	.........................................................	
6

	
 1.2

	 	 	 	   Computation of Time Periods...................................................	.........................................................	
 21

	
 1.3

	 	 	 	   Accounting Terms....................................................................	.........................................................	
 21

	
 SECTION

	 	 2	 	 CREDIT FACILITIES..............................................................	.........................................................	
 22

	
2.1 

	 	 	 	   Revolving Loans......................................................................	.........................................................	
 22

	
2.2 

	 	 	 	   Competitive Loan Subfacility....................................................	 ........................................................	
 24

	
2.3 

	 	 	 	   Swingline Loan Subfacility........................................................	.........................................................	
26

	
2.4 

	 	 	 	   Term Loan...............................................................................	
........................................................

	
 28

	
SECTION 

	 	
3

	 	OTHER PROVISIONS RELATING TO CREDIT FACILITIES	 ........................................................	
 31

	
 3.1

	 	 	 	   Default Rate..............................................................................	 ........................................................	
31

	
 3.2

	 	 	 	   Extension and Conversion.........................................................	........................................................	
 31

	
 3.3

	 	 	 	   Prepayments.............................................................................	........................................................	
32

	
 3.4

	 	 	 	   Termination and Reduction of Revolving Committed Amount......	.........................................................	
34

	
 3.5

	 	 	 	   Fees..........................................................................................	.........................................................	
 35

	
 3.6

	 	 	 	  Capital Adequacy.......................................................................	 .........................................................	
 36

	
 3.7

	 	 	 	  Inability To Determine Interest Rate............................................	
.........................................................

	
36

	
 3.8

	 	 	 	  Illegality......................................................................................	
.........................................................

	
 36

	
 3.9

	 	 	 	  Yield Protection.........................................................................	
.........................................................

	
 37

	
 3.10

	 	 	 	  Withholding Tax Exemption........................................................	
.........................................................

	
37

	
 3.11

	 	 	 	   Indemnity..................................................................................	
.........................................................

	
 39

	
 3.12

	 	 	 	   Pro Rata Treatment...................................................................	
.........................................................

	
 39

	
 3.13

	 	 	 	   Sharing of Payments..................................................................	
.........................................................

	
 40

	
 3.14

	 	 	 	   Payments, Computations, Etc....................................................	
.........................................................

	
 41

	
 3.15

	 	 	 	   Evidence of Debt.......................................................................	
.........................................................

	
 42

	
 3.16

	 	 	 	   Replacement of Lenders............................................................	 .........................................................	 43
	 SECTION	 	
4

	 	CONDITIONS...........................................................................	 .........................................................	
43

	
4.1

	 	 	 	   Closing Conditions....................................................................	
.........................................................

	
 43

	
4.2

	 	 	 	   Conditions to all Extensions of Credit.........................................	
.........................................................

	
44

	
SECTION

	 	
5

	 	REPRESENTATIONS AND WARRANTIES............................	
.........................................................

	
45

	
5.1

	 	 	 	   Financial Condition....................................................................	
.........................................................

	
45

	
5.2

	 	 	 	   Organization; Existence; Compliance with Law...........................	
.........................................................

	
46

	
5.3

	 	 	 	   Power; Authorization; Enforceable Obligations...........................	
.........................................................

	
46

	
5.4

	 	 	 	   No Legal Bar............................................................................	
.........................................................

	
46

	
5.5

				   No Material Litigation................................................................	.........................................................	
47

	
5.6

	 	 	 	   No Default................................................................................	
.........................................................

	
47

	
5.7

				   Ownership of Property; Liens....................................................	
.........................................................

	
47

	
5.8

	 	 	 	    No Burdensome Restrictions....................................................	
.........................................................

	
47

	
5.9

	 	 	 	   Taxes........................................................................................	
.........................................................

	
47

	
5.10

	 	 	 	   ERISA......................................................................................	
.........................................................

	
48

	
5.11

	 	 	 	   Governmental Regulations, Etc...................................................	
.........................................................

	
49

	
5.12

	 	 	 	   Subsidiaries...............................................................................	
.........................................................

	
50

	
5.13

				   Purpose of Loans......................................................................	.........................................................	
50

	
SECTION

		
6

		
AFFIRMATIVE COVENANTS.................................................

	.........................................................	
50

	
6.1

				   Information Covenants...............................................................	.........................................................	
50

	
6.2

	 	 	 	   Preservation of Existence and Franchises...................................	
.........................................................

	
53

	
6.3

	 	 	 	   Books and Records...................................................................	
.........................................................

	
53

	
6.4

	 	 	 	   Compliance with Law................................................................	
.........................................................

	
53

	
6.5

	 	 	 	   Payment of Taxes and Other Indebtedness.................................	
.........................................................

	
53

	
6.6

	 	 	 	   Insurance..................................................................................	
.........................................................

	
53

	
6.7

	 	 	 	   Maintenance of Property...........................................................	
.........................................................

	
53

	
6.8

	 	 	 	   Use of Proceeds........................................................................	
.........................................................

	
54

	
6.9

	 	 	 	   Audits/Inspections.....................................................................	
.........................................................

	
54

	
6.10

	 	 	 	   Adjusted Debt to EBITDAR Ratio............................................	
.........................................................

	
54

	
6.11

				   Interest Coverage Ratio.............................................................	
.........................................................

	
54

	
SECTION

	 	
7

	 	NEGATIVE COVENANTS........................................................	 .........................................................	
54

	
7.1

	 	 	 	   Liens.........................................................................................	
.........................................................

	
54

	
7.2

	 	 	 	   Nature of Business....................................................................	
.........................................................

	
55

	
7.3

	 	 	 	   Consolidation, Merger, Sale or Purchase of Assets,
etc..............	
.........................................................

	
55

	
7.4

	 	 	 	   Fiscal Year................................................................................	
.........................................................

	
56

	
7.5

				   Subsidiary Indebtedness............................................................	.........................................................	
56

	
SECTION

		
8

		
EVENTS OF DEFAULT.............................................................

	.........................................................	
56

	
8.1

	 	 	 	   Events of Default.......................................................................	
.........................................................

	
56

	
8.2

				   Acceleration; Remedies.............................................................	.........................................................	
58

	SECTION		
9

		
AGENCY PROVISIONS

	.........................................................	
59

	
9.1

	 	 	 	   Appointment.............................................................................	
.........................................................

	
59

	
9.2

	 	 	 	   Delegation of Duties..................................................................	
.........................................................

	
60

	
9.3

	 	 	 	   Exculpatory Provisions..............................................................	
.........................................................

	
60

	
9.4

	 	 	 	   Reliance on Communications.....................................................	
.........................................................

	
60

	
9.5

	 	 	 	   Notice of Default.......................................................................	
.........................................................

	
61

	
9.6

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

	
61

	
9.7

	 	 	 	   Indemnification..........................................................................	
.........................................................

	
61

	
9.8

	 	 	 	   Administrative Agent in its Individual Capacity............................	
.........................................................

	
62

	
9.9

	 	 	 	   Successor Administrative Agent.................................................	
.........................................................

	
62

	
9.10

				   Syndication Agent.....................................................................	.........................................................	
63

	
SECTION

		10		
MISCELLANEOUS...................................................................

	.........................................................	
63

	
10.1

	 	 	 	   Notices.....................................................................................	
.........................................................

	
63

	
10.2

	 	 	 	   Right of Set-Off.........................................................................	
.........................................................

	
64

	
10.3

	 	 	 	   Benefit of Agreement.................................................................	
.........................................................

	
64

	
10.4

	 	 	 	   No Waiver; Remedies Cumulative.............................................	
.........................................................

	
68

	
10.5

	 	 	 	   Payment of Expenses, etc..........................................................	
.........................................................

	
68

	
10.6

	 	 	 	   Amendments, Waivers and Consents.........................................	
.........................................................

	
69

	
10.7

	 	 	 	   Counterparts.............................................................................	
.........................................................

	
70

	
10.8

	 	 	 	   Headings...................................................................................	
.........................................................

	
70

	
10.9

	 	 	 	   Survival.....................................................................................	
.........................................................

	
70

	
10.10

	 	 	 	   Governing Law; Submission to Jurisdiction; Venue.....................	
.........................................................

	
70

	
10.11

	 	 	 	   Severability...............................................................................	
.........................................................

	
71

	
10.12

	 	 	 	   Entirety.....................................................................................	
.........................................................

	
71

	
10.13

	 	 	 	  Binding Effect; Amendment and Restatement of Existing Credit

   Agreement; Termination............................................................	 

.........................................................

	 

71

	
10.14

	 	 	 	   Confidentiality...........................................................................	
.........................................................

	
72

	
10.15

	 	 	 	   Source of Funds........................................................................	
.........................................................

	
72

	
10.16

				   Conflict.....................................................................................	.........................................................	73

SCHEDULES

	
Schedule
1.1

		
Applicable
Percentage

	
Schedule
2.1(a)

		
Lenders

	
Schedule
2.1(b)(i)

		
Form
of Notice of Borrowing

	
Schedule
2.1(e)

		
Form
of Revolving Note

	
Schedule
2.2(f)

		
Form
of Competitive Note

	
Schedule
2.3(d)

		
Form
of Swingline Note

	
Schedule
2.4(e)

		
Form
of Term Note

	
Schedule
2.4(f)

		
Incremental
Term Loan Commitment Agreement

	
Schedule
3.2

		
Form
of Notice of Extension/Conversion

	
Schedule
4.1(g)

		
Form
of Legal Opinion

	
Schedule
5.5

		
Material
Litigation

	
Schedule
5.12

		
Subsidiaries

	
Schedule
6.1(c)

		
Form
of Officer's Compliance Certificate

	
Schedule
7.5

		
Subsidiary
Indebtedness

	
Schedule
10.3(b)

		
Form
of Assignment and Acceptance

 

AMENDED AND RESTATED CREDIT AGREEMENT

       
THIS AMENDED AND RESTATED CREDIT AGREEMENT dated as of May 21, 2002
(the "Credit Agreement"), is by and among AUTOZONE, INC.,
a Nevada corporation (the "Borrower"), the several lenders identified
on the signature pages hereto and such other lenders as may from time to
time become a party hereto (the "Lenders"), FLEET NATIONAL BANK,
as administrative agent for the Lenders (in such capacity, the "Administrative
Agent") and JPMORGAN CHASE BANK, as syndication agent (in such
capacity, the "Syndication Agent").

W I T N E S S E T H

       
WHEREAS, the Borrower, the Lenders, the Administrative Agent and the
Syndication Agent are party to that Credit Agreement dated as of May 22,
2001 (the "Existing Credit Agreement");

       
WHEREAS, the Borrower has requested that the Lenders extend the maturity
of the term loan and the revolving loan facility available to the Borrower
under the Existing Credit Agreement, and permit incremental increases in
the amount of term loan, available to the Borrower under the Existing Credit
Agreement, as more particularly described herein;

       
WHEREAS, the Lenders have agreed to make such changes to the existing
credit facilities and to amend and restate the Existing Credit Agreement
on the terms and conditions hereinafter set forth;

       
NOW, THEREFORE, IN CONSIDERATION of the premises and other good and
valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties hereto agree as follows:

SECTION 1

DEFINITIONS

        1.1  Definitions.

       
As used in this Credit Agreement, the following terms shall have the meanings
specified below unless the context otherwise requires:

 

      "Administrative Agent" shall
have the meaning assigned to such term in the heading hereof, together
with any successors or assigns.

 

      "Administrative Agent's Fee Letter"
means that certain letter agreement, dated as of April 29, 2002, between
the Administrative Agent and the Borrower, as amended, modified, supplemented
or replaced from time to time.

 

       "Administrative Agent's Fees"
shall have the meaning assigned to such term in Section 3.5(b).

 

        "Affiliate" means,
with respect to any Person, any other Person (i) directly or indirectly
controlling or controlled by or under direct or indirect common control
with such Person or (ii) directly or indirectly owning or holding five
percent (5%) or more of the equity interest in such Person.  For purposes
of this definition, "control" when used with respect to any Person means
the power to direct the management and policies of such Person, directly
or indirectly, whether through the ownership of voting securities, by contract
or otherwise; and the terms "controlling" and "controlled" have meanings
correlative to the foregoing.

 

        "Agency Services Address"
means Fleet National Bank, 100 Federal Street, MADE10307C,
Boston, MA  02110 Attn:  Agency Services.

 

        "Applicable Percentage"
means, for purposes of calculating the applicable interest rate for any
day for any Loan (other than a Competitive Loan or a Quoted Rate Swingline
Loan), the applicable rate of the Facility Fee for any day for purposes
of Section 3.5(a) or the applicable rate of the Utilization Fee for any
day for the purposes of Section 3.5(c), the appropriate applicable percentage
set forth on Schedule 1.1.  The Applicable Percentages shall
be determined and adjusted on the following dates (each a "Calculation
Date"):

       
(i)  where the Borrower has a senior unsecured (non-credit enhanced)
long term debt rating from S&P and/or Moody's, five (5) Business Days
after receipt of notice by the Administrative Agent of a change in any
such debt rating, based on such debt rating(s); and

 

        (ii)  where the Borrower
previously had a senior unsecured (non-credit enhanced) long term debt
rating from S&P and/or Moody's, but either or both of S&P and Moody's
withdraws its rating such that the Borrower's senior unsecured (non-credit
enhanced) long term debt no longer is rated by either S&P or Moody's,
five (5) Business Days after receipt by the Administrative Agent of notice
of the withdrawal of the last to exist of such previous debt ratings, based
on Pricing Level V until the earlier of (A) such time as S&P and/or
Moody's provides another rating for such debt of the Borrower or (B) the
Required Lenders have agreed to an alternative pricing grid or other method
for determining Pricing Levels pursuant to an effective amendment to this
Credit Agreement.

The
Applicable Percentage shall be effective from a Calculation Date until
the next such Calculation Date.  The Administrative Agent shall determine
the appropriate Applicable Percentages promptly upon receipt of the notices
and information necessary to make such determination and shall promptly
notify the Borrower and the Lenders of any change thereof.  Such determinations
by the Administrative Agent shall be conclusive absent manifest error. 
The Applicable Percentage from the Closing Date shall be based on Pricing
Level II, subject to adjustment as provided herein.

 

        "Approving Lenders"
has the meaning set forth in Section 3.4(c).

 

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

 

        "Bankruptcy Event"
means, with respect to any Person, the occurrence of any of the following
with respect to such Person: (i) a court or governmental agency having
jurisdiction in the premises shall enter a decree or order for relief in
respect of such Person in an involuntary case under any applicable bankruptcy,
insolvency or other similar law now or hereafter in effect, or appointing
a receiver, liquidator, assignee, custodian, trustee, sequestrator (or
similar official) of such Person or for any substantial part of its Property
or ordering the winding up or liquidation of its affairs; or (ii) there
shall be commenced against such Person an involuntary case under any applicable
bankruptcy, insolvency or other similar law now or hereafter in effect,
or any case, proceeding or other action for the appointment of a receiver,
liquidator, assignee, custodian, trustee, sequestrator (or similar official)
of such Person or for any substantial part of its Property or for the winding
up or liquidation of its affairs, and such involuntary case or other case,
proceeding or other action shall remain undismissed, undischarged or unbonded
for a period of sixty (60) consecutive days; or (iii) such Person shall
commence a voluntary case under any applicable bankruptcy, insolvency or
other similar law now or hereafter in effect, or consent to the entry of
an order for relief in an involuntary case under any such law, or consent
to the appointment or taking possession by a receiver, liquidator, assignee,
custodian, trustee, sequestrator (or similar official) of such Person or
for any substantial part of its Property or make any general assignment
for the benefit of creditors; or (iv) such Person shall be unable to, or
shall admit in writing its inability to, pay its debts generally as they
become due.

 

       "Base Rate" means, for
any day, the rate per annum (rounded upwards, if necessary, to the nearest
whole multiple of 1/100 of 1%) equal to the greater of (a) the Federal
Funds Rate in effect on such day plus 1⁄2 of 1% or (b) the
Prime Rate in effect on such day.  If for any reason the Administrative
Agent shall have determined (which determination shall be conclusive absent
manifest error) that it is unable after due inquiry to ascertain the Federal
Funds Rate for any reason, including the inability or failure of the Administrative
Agent to obtain sufficient quotations in accordance with the terms hereof,
the Base Rate shall be determined without regard to clause (a) of the first
sentence of this definition until the circumstances giving rise to such
inability no longer exist.  Any change in the Base Rate due to a change
in the Prime Rate or the Federal Funds Rate shall be effective on the effective
date of such change in the Prime Rate or the Federal Funds Rate, respectively.

 

        "Base Rate Loan"
means any Loan bearing interest at a rate determined by reference to the
Base Rate.

 

        "Borrower" means
the Person identified as such in the heading hereof, together with any
permitted successors and assigns.

 

       "Business Day" means a
day other than a Saturday, Sunday or other day on which commercial banks
in New York, New York are authorized or required by law to close, exceptthat,
when used in connection with a Eurodollar Loan, such day shall also be
a day on which dealings between banks are carried on in U.S. dollar deposits
in London, England and New York, New York.

 

       "Calculation Date" has
the meaning set forth in the definition of Applicable Percentage.

 

       "Capital Lease" means,
as applied to any Person, any lease of any Property (whether real, personal
or mixed) by that Person as lessee which, in accordance with GAAP, is or
should be accounted for as a capital lease on the balance sheet of that
Person.

        "Change of Control" means
either (i) a "person" or a "group" (within the meaning of Section 13(d)
and 14(d)(2) of the Securities Exchange Act of 1934) becomes the "beneficial
owner" (as defined in Rule 13d-3 under the Securities Exchange Act of 1934)
of more than 50% of the then outstanding voting stock of the Borrower or
(ii) a majority of the board of directors of the Borrower shall consist
of individuals who are not Continuing Directors.  For purposes hereof,
"Continuing Directors" means, as of any date of determination, (i) an individual
who on the date two years prior to such determination date was a member
of the Borrower's board of directors or (ii) (a) any director whose nomination
for election by the Borrower's shareholders was approved by a vote of a
majority of the directors then still in office who either were directors
on the date two years prior to such determination date or
whose nomination for election was previously so approved (or who are Continuing
Directors pursuant to clause (b) below) or (b) any director who was elected
by a majority of the directors then still in office who either were directors
on the date two years prior to such determination date or whose nomination
for election was previously so approved (or who are Continuing Directors
pursuant to clause (a) above).

       
"Closing Date" means the date hereof.

       
"Code" means the Internal Revenue Code of 1986, as amended, and
any successor statute thereto, as interpreted by the rules and regulations
issued thereunder, in each case as in effect from time to time.  References
to sections of the Code shall be construed also to refer to any successor
sections.

       
"Commercial Credit Business Arrangement" means any agreement between
the Borrower or any of its Subsidiaries and an entity that purchases such
Person's commercial accounts receivables with only such limited recourse
back to such Person as is customary in factoring arrangements of this type.

       
"Commitment" means (i) with respect to each Lender, the Revolving
Commitment and/or the Term Loan Commitment of such Lender and (ii) with
respect to the Swingline Lender, the Swingline Commitment.

        "Competitive Bid"
means an offer by a Lender to make a Competitive Loan pursuant to the terms
of Section 2.2.

       
"Competitive Bid Rate" means, as to any Competitive Bid made by
a Lender in accordance with the provisions of Section 2.2, the fixed rate
of interest offered by the Lender making the Competitive Bid.

       
"Competitive Loan" means a loan made by a Lender in its discretion
pursuant to the provisions of Section 2.2.

       
"Competitive Note" means a promissory note of the Borrower in favor
of a Lender delivered pursuant to Section 2.2(f) and evidencing the Competitive
Loans, if any, of such Lender, as such promissory note may be amended,
modified, restated or replaced from time to time.

       
"Consolidated Adjusted Debt" means, at any time, the sum of, without
duplication, (i) Consolidated Funded Indebtedness and (ii) the product
of Consolidated Rents multiplied by 6.0.

       
"Consolidated EBITDA" means, for any period for the Borrower and
its Subsidiaries, Consolidated Net Income plus Consolidated Interest
Expense
plus all provisions for any Federal, state or other domestic
and foreign income taxes plus depreciation and amortization, in
each case on a consolidated basis determined in accordance with GAAP applied
on a consistent basis.  Except as otherwise expressly provided, the
applicable period shall be for the four consecutive fiscal quarters ending
as of the date of determination.

       
"Consolidated EBITDAR" means, for any period, the sum of Consolidated
EBITDA and Consolidated Rents.  Except as otherwise expressly provided,
the applicable period shall be for the four consecutive fiscal quarters
ending as of the date of determination.

       
"Consolidated EBITR" means, for any period for the Borrower and
its Subsidiaries, Consolidated EBITDA minus depreciation and amortization
plus
Consolidated Rents, in each case on a consolidated basis as determined
in accordance with GAAP applied on a consistent basis.  Except as
otherwise expressly provided, the applicable period shall be for the four
consecutive fiscal quarters ending as of the date of determination.

       
"Consolidated Funded Indebtedness" means, at any time, the outstanding
principal amount of all Funded Indebtedness, without duplication, of the
Borrower and its Subsidiaries at such time.

       
"Consolidated Interest Coverage Ratio" means, as of the last day
of any fiscal quarter of the Borrower, the ratio of (i) Consolidated EBITR
to (ii) Consolidated Interest Expense plus Consolidated Rents.

       
"Consolidated Interest Expense" means, for any period for the Borrower
and its Subsidiaries, all interest expense plus the interest component
under Capital Leases, in each case on a consolidated basis as determined
in accordance with GAAP applied on a consistent basis.  Except as
otherwise expressly provided, the applicable period shall be for the four
consecutive fiscal quarters ending as of the date of determination.

       
"Consolidated Net Income" means, for any period for the Borrower
and its Subsidiaries, net income on a consolidated basis determined in
accordance with GAAP applied on a consistent basis, but excluding non-recurring
charges in an aggregate amount not to exceed $50,000,000 collectively with
respect to all periods relevant for the calculation of the financial covenants
contained in Sections 6.10 and 6.11.  Except as otherwise expressly
provided, the applicable period shall be for the four consecutive fiscal
quarters ending as of the date of determination.

       
"Consolidated Rents" means, for any period for the Borrower and
its Subsidiaries, all rental expense of the Borrower and its Subsidiaries
for such period under operating leases (specifically including rents paid
in connection with synthetic leases, tax retention operating leases, off-balance
sheet loans or similar off-balance sheet financing products), on a consolidated
basis as determined in accordance with GAAP applied on a consistent basis.
Except as otherwise expressly provided, the applicable period shall be
for the four consecutive fiscal quarters ending as of the date of determination.

       
"Credit Documents" means a collective reference to this Credit Agreement,
the Notes, the Administrative Agent's Fee Letter and all other related
agreements and documents issued or delivered hereunder or thereunder or
pursuant hereto or thereto.

       
"Default" means any event, act or condition which with notice or
lapse of time, or both, would constitute an Event of Default.

       
"Designating Lender" has the meaning set forth in Section 10.3(e).

       
"Disapproving Lenders" has the meaning set forth in Section 3.4(c).

       
"Dollars" and "$" means dollars in lawful currency of the
United States of America.

       
"Environmental Laws" means any and all lawful and applicable Federal,
state, local and foreign statutes, laws, regulations, ordinances, rules,
judgments, orders, decrees, permits, concessions, grants, franchises, licenses,
agreements or other governmental restrictions relating to the environment
or to emissions, discharges, releases or threatened releases of pollutants,
contaminants, chemicals, or industrial, toxic or hazardous substances or
wastes into the environment including, without limitation, ambient air,
surface water, ground water, or land, or otherwise relating to the manufacture,
processing, distribution, use, treatment, storage, disposal, transport,
or handling of pollutants, contaminants, chemicals, or industrial, toxic
or hazardous substances or wastes.

       
"ERISA" means the Employee Retirement Income Security Act of 1974,
as amended, and any successor statute thereto, as interpreted by the rules
and regulations thereunder, all as the same may be in effect from time
to time.  References to sections of ERISA shall be construed also
to refer to any successor sections.

       
"ERISA Affiliate" means an entity which is under common control
with the Borrower within the meaning of Section 4001(a)(14) of ERISA, or
is a member of a group which includes the Borrower and which is treated
as a single employer under Sections 414(b) or (c) of the Code.

       
"ERISA Event" means (i) with respect to any Plan, the occurrence
of a Reportable Event or the substantial cessation of operations (within
the meaning of Section 4062(e) of ERISA); (ii) the withdrawal by the Borrower,
any Subsidiary of the Borrower or any ERISA Affiliate from a Multiple Employer
Plan during a plan year in which it was a substantial employer (as such
term is defined in Section 4001(a)(2) of ERISA), or the termination of
a Multiple Employer Plan; (iii) the distribution of a notice of intent
to terminate or the actual termination of a Plan pursuant to Section 4041(a)(2)
or 4041A of ERISA; (iv) the institution of proceedings to terminate or
the actual termination of a Plan by the PBGC under Section 4042 of ERISA;
(v) any event or condition which could 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; (vi) the complete or partial withdrawal
of the Borrower, any Subsidiary of the Borrower or any ERISA Affiliate
from a Multiemployer Plan; (vii) the conditions for imposition of a lien
under Section 302(f) of ERISA exist with respect to any Plan; or (vii)
the adoption of an amendment to any Plan requiring the provision of security
to such Plan pursuant to Section 307 of ERISA.

       
"Eurodollar Loan" means any Loan bearing interest at a rate determined
by reference to the Eurodollar Rate.

       
"Eurodollar Rate" means, for the Interest Period for each Eurodollar
Loan comprising part of the same borrowing (including conversions, extensions
and renewals), a per annum interest rate determined pursuant to the following
formula:

                   
Eurodollar Rate    =      Interbank
Offered Rate

                                                       
1 - Eurodollar Reserve Percentage

 

     
"Eurodollar Reserve Percentage" means for any day, that percentage
(expressed as a decimal) which is in effect from time to time under Regulation
D of the Board of Governors of the Federal Reserve System (or any successor),
as such regulation may be amended from time to time or any successor regulation,
as the maximum reserve requirement (including, without limitation, any
basic, supplemental, emergency, special, or marginal reserves) applicable
with respect to Eurocurrency liabilities as that term is defined in Regulation
D (or against any other category of liabilities that includes deposits
by reference to which the interest rate of Eurodollar Loans is determined),
whether or not Lender has any Eurocurrency liabilities subject to such
reserve requirement at that time.  Eurodollar Loans shall be deemed
to constitute Eurocurrency liabilities and as such shall be deemed subject
to reserve requirements without benefits of credits for proration, exceptions
or offsets that may be available from time to time to a Lender.  The
Eurodollar Rate shall be adjusted automatically on and as of the effective
date of any change in the Eurodollar Reserve Percentage.

 

       "Event of Default" means
such term as defined in Section 8.1.

 

        "Existing Five-Year Credit
Agreement" means that certain Five-Year Credit Agreement, dated as
of May 23, 2000, by and among the Borrower, the lenders party thereto and
Bank of America, N.A., as administrative agent, as amended, modified, supplemented,
restated or replaced from time to time.

 

       "Existing Five-Year Facility"
means the revolving loan facility established pursuant to the Existing
Five-Year Credit Agreement.

 

        "Facility Fee" shall
have the meaning assigned to such term in Section 3.5(a).

 

        "Facility Fee Calculation
Period" shall have the meaning assigned to such term in Section 3.5(a).

 

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

 

       "Fees" means all fees payable
pursuant to Section 3.5.

       
"Financial Officer" means, with respect to the Borrower, the Treasurer,
the Controller, the General Counsel, or the Chief Financial Officer of
the Borrower; provided that the Borrower may designate additional
persons or delete persons so authorized by written notice to the Administrative
Agent from at least two existing Financial Officers of the Borrower.

       
"Fleet " means Fleet National Bank and its successors.

       
"Funded Indebtedness" means, with respect to any Person (for purposes
of this sentence only, the "Debtor"), without duplication, (i) all
Indebtedness of such Debtor for borrowed money, (ii) all purchase money
Indebtedness of such Debtor, including without limitation the principal
portion of all obligations of such Debtor under Capital Leases, (iii) all
Guaranty Obligations of such Debtor with respect to Funded Indebtedness
of another Person, (iv) the maximum available amount of all standby letters
of credit or acceptances issued or created for the account of such Debtor,
and (v) all Funded Indebtedness of another Person secured by a Lien on
any Property of such Debtor, whether or not such Funded Indebtedness has
been assumed; provided that Funded Indebtedness shall not include
(i) any letters of credit used by such Debtor for the financing of inventory
in the ordinary course of business or (ii) any amounts received by such
Debtor pursuant to a Commercial Credit Business Arrangement.  The
Funded Indebtedness of any Person shall include the Funded Indebtedness
of any partnership or joint venture in which such Person is a general partner
or joint venturer.

       
"GAAP" means generally accepted accounting principles in the United
States applied on a consistent basis and subject to the terms of Section
1.3 hereof.

       
"Governmental Authority" means any Federal, state, local or foreign
court or governmental agency, authority, instrumentality or regulatory
body.

       
"Guaranty Obligations" means, with respect to any Person, without
duplication, any obligations of such Person (other than endorsements in
the ordinary course of business of negotiable instruments for deposit or
collection) guaranteeing or intended to guarantee any Indebtedness of any
other Person in any manner, whether direct or indirect, and including without
limitation any obligation, whether or not contingent, (i) to purchase any
such Indebtedness or any Property constituting security therefor, (ii)
to advance or provide funds or other support for the payment or purchase
of any such Indebtedness or to maintain working capital, solvency or other
balance sheet condition of such other Person (including without limitation
keep well agreements, maintenance agreements, comfort letters or similar
agreements or arrangements) for the benefit of any holder of Indebtedness
of such other Person, (iii) to lease or purchase Property, securities or
services primarily for the purpose of assuring the holder of such Indebtedness,
or (iv) to otherwise assure or hold harmless the holder of such Indebtedness
against loss in respect thereof.  The amount of any Guaranty Obligation
hereunder shall (subject to any limitations set forth therein) be deemed
to be an amount equal to the outstanding principal amount (or maximum principal
amount, if larger) of the Indebtedness in respect of which such Guaranty
Obligation is made.

       
"Indebtedness" of any Person means (i) all obligations of such Person
for borrowed money, (ii) all obligations of such Person evidenced by bonds,
debentures, notes or similar instruments, or upon which interest payments
are customarily made, (iii) all obligations of such Person under conditional
sale or other title retention agreements relating to Property purchased
by such Person (other than customary reservations or retentions of title
under agreements with suppliers entered into in the ordinary course of
business), (iv) all obligations of such Person issued or assumed as the
deferred purchase price of Property or services purchased by such Person
(other than trade debt incurred in the ordinary course of business and
due within six months of the incurrence thereof) which would appear as
liabilities on a balance sheet of such Person, (v) all obligations of such
Person under take-or-pay or similar arrangements or under commodities agreements,
(vi) all Indebtedness of others secured by (or for which the holder of
such Indebtedness has an existing right, contingent or otherwise, to be
secured by) any Lien on, or payable out of the proceeds of production from,
Property owned or acquired by such Person, whether or not the obligations
secured thereby have been assumed, (vii) all Guaranty Obligations of such
Person, (viii) the principal portion of all obligations of such Person
under Capital Leases, (ix) all obligations of such Person in respect of
interest rate protection agreements, foreign currency exchange agreements,
commodity purchase or option agreements or other interest or exchange rate
or commodity price hedging agreements, (x) the maximum amount of all standby
letters of credit issued or bankers' acceptances facilities created for
the account of such Person and, without duplication, all drafts drawn thereunder
(to the extent unreimbursed), (xi) all preferred stock issued by such Person
and required by the terms thereof to be redeemed, or for which mandatory
sinking fund payments are due, by a fixed date and (xii) the principal
balance outstanding under any synthetic lease, 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; provided that Indebtedness shall not include
(i) any letters of credit used by such Person for the financing of inventory
in the ordinary course of business or (ii) any amounts received by such
Person pursuant to a Commercial Credit Business Arrangement.  The
Indebtedness of any Person shall include the Indebtedness of any partnership
or joint venture in which such Person is a general partner or a joint venturer.

       
"Interbank Offered Rate" means, for the Interest Period for each
Eurodollar Loan comprising part of the same borrowing (including conversions,
extensions and renewals), a per annum interest rate (rounded upwards, if
necessary, to the nearest whole multiple of 1/100 of 1%) equal to the rate
of interest, determined by the Administrative Agent on the basis of the
offered rates for deposits in dollars for a period of time corresponding
to such Interest Period (and commencing on the first day of such Interest
Period), appearing on Telerate Page 3750 (or, if, for any reason, Telerate
Page 3750 is not available, the Reuters Screen LIBO Page) as of approximately
11:00 A.M. (London time) two (2) Business Days before the first day of
such Interest Period; provided, however, if no such interest
rate for a period of time corresponding to such Interest Period appears
on Telerate Page 3750 or the Reuters Screen LIBO Page, then the applicable
interest rate shall be determined by the Administrative Agent in good faith. 
As used herein, "Telerate Page 3750" means the display designated as page
3750 by Dow Jones Telerate, Inc. (or such other page as may replace such
page on that service for the purpose of displaying the British Bankers
Association London interbank offered rates) and "Reuters Screen LIBO Page"
means the display designated as page "LIBO" on the Reuters Monitor Money
Rates Service (or such other page as may replace the LIBO page on that
service for the purpose of displaying London interbank offered rates of
major banks).

       
"Interest Payment Date" means (i) as to any Base Rate Loan, the
last day of each March, June, September and December, the date of repayment
of principal of such Loan and the Termination Date and (ii) as to any Eurodollar
Loan, any Competitive Loan or any Swingline Loan, the last day of each
Interest Period for such Loan, the date of repayment of principal of such
Loan and on the Termination Date, and in addition where the applicable
Interest Period is more than 3 months, then also on the date 3 months from
the beginning of the Interest Period, and each 3 months thereafter. 
If an Interest Payment Date falls on a date which is not a Business Day,
such Interest Payment Date shall be deemed to be the next succeeding Business
Day, except that in the case of Eurodollar Loans where the
next succeeding Business Day falls in the next succeeding calendar month,
then on the next preceding Business Day.

       
"Interest Period" means (i) as to any Eurodollar Loan, a period
of one, two, three or six month's duration, as the Borrower may elect,
commencing in each case, on the date of the borrowing (including conversions,
extensions and renewals), (ii) as to any Competitive Loan, a period commencing
in each case on the date of the borrowing and ending on the date specified
in the applicable Competitive Bid whereby the offer to make such Competitive
Loan was extended (such ending date in any event to be no less than one
week and not more than 180 days from the date of the borrowing) and (iii)
as to any Swingline Loan, a period commencing in each case on the date
of the borrowing and ending on the date agreed by the Borrower and the
Swingline Lender in accordance with the provisions of Section 2.3(b)(i)
(such ending date in any event to be not more than seven (7) Business Days
from the date of borrowing);
provided,
however, (A) if any
Interest Period would end on a day which is not a Business Day, such Interest
Period shall be extended to the next succeeding Business Day (except that
in the case of Eurodollar Loans where the next succeeding Business Day
falls in the next succeeding calendar month, then on the next preceding
Business Day), (B) no Interest Period shall extend beyond the Termination
Date, and (C) in the case of Eurodollar Loans, 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 shall end on the last day of such calendar month.

       
"Lenders" means each of the Persons identified as a "Lender" on
the signature pages hereto, and each Person which may become a Lender by
way of assignment in accordance with the terms hereof, together with their
successors and permitted assigns.

       
"Lending Installation" means, with respect to a Lender or the Administrative
Agent, any office, branch, subsidiary or affiliate of such Lender or the
Administrative Agent.

       
"Lien" means any mortgage, pledge, hypothecation, assignment, deposit
arrangement, security interest, encumbrance, lien (statutory or otherwise),
preference, priority or charge of any kind (including any agreement to
give any of the foregoing, any conditional sale or other title retention
agreement, any financing or similar statement or notice filed under the
Uniform Commercial Code as adopted and in effect in the relevant jurisdiction
or other similar recording or notice statute, and any lease in the nature
thereof).

       
"Loan" or "Loans" means the Term Loan (or any Base Rate Loan
or Eurodollar Loan constituting a portion thereof), the Revolving Loans,
the Competitive Loans and/or the Swingline Loans (or any Swingline Loan
bearing interest at the Base Rate or the Quoted Rate and referred to as
a Base Rate Loan or a Quoted Rate Swingline Loan), individually or collectively,
as appropriate.

       
"Master Account" means such account as may be identified by written
notice from at least two Financial Officers of the Borrower to the Administrative
Agent.

       
"Material Adverse Effect" means a material adverse effect on (i)
the condition (financial or otherwise), operations, business, assets or
liabilities of the Borrower and its Subsidiaries, taken as a whole, (ii)
the ability of the Borrower to perform any material obligation under the
Credit Documents or (iii) any aspect of the Borrower or its business that
adversely affects the material rights and remedies of the Lenders under
the Credit Documents.

       
"Materials of Environmental Concern" means any gasoline or petroleum
(including crude oil or any fraction thereof) or petroleum products or
any hazardous or toxic substances, materials or wastes, defined or regulated
as such in or under any Environmental Laws, including, without limitation,
asbestos, polychlorinated biphenyls and urea-formaldehyde insulation.

       
"Moody's" means Moody's Investors Service, Inc., or any successor
or assignee of the business of such company in the business of rating securities.

       
"Multiemployer Plan" means a Plan which is a multiemployer plan
as defined in Sections 3(37) or 4001(a)(3) of ERISA.

       
"Multiple Employer Plan" means a Plan which the Borrower, any Subsidiary
of the Borrower or any ERISA Affiliate and at least one employer other
than the Borrower, any Subsidiary of the Borrower or any ERISA Affiliate
are contributing sponsors.

       
"Note" or "Notes" means any Revolving Note, Swingline Note,
Competitive Note and/or Term Note, as the context may require.

       
"Notice of Borrowing" means a written notice of borrowing in substantially
the form of Schedule 2.1(b)(i), as required by Section 2.1(b)(i).

       
"Notice of Extension/Conversion" means the written notice of extension
or conversion in substantially the form of Schedule 3.2, as required
by Section 3.2.

       
"Participation Interest" means, the extension of credit by a Lender
by way of a purchase of a participation in any Swingline Loans as provided
in Section 2.3(b)(iii) or in any Loans as provided in Section 3.13.

       
"PBGC" means the Pension Benefit Guaranty Corporation established
pursuant to Subtitle A of Title IV of ERISA and any successor thereof.

       
"Permitted Liens" means:

       
(i)        Liens in favor of the Administrative
Agent on behalf of the Lenders;

 

      (ii)       
Liens (other than Liens created or imposed under ERISA) for taxes, assessments
or governmental charges or levies not yet due or Liens for taxes being
contested in good faith by appropriate proceedings for which adequate reserves
determined in accordance with GAAP have been established (and as to which
the Property subject to any such Lien is not yet subject to foreclosure,
sale or loss on account thereof);

 

       (iii)       
statutory Liens of landlords and Liens of carriers, warehousemen, mechanics,
materialmen and suppliers and other Liens imposed by law or pursuant to
customary reservations or retentions of title arising in the ordinary course
of business, provided that any such Liens which are material secure
only amounts not yet due and payable or, if due and payable, are unfiled
and no other action has been taken to enforce the same or 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 the Property
subject to any such Lien is not yet subject to foreclosure, sale or loss
on account thereof);

 

       (iv)       
Liens (other than Liens created or imposed under ERISA) incurred or deposits
made by the Borrower and its Subsidiaries in the ordinary course of business
in connection with workers' compensation, unemployment insurance and other
types of social security, or to secure the performance of tenders, statutory
obligations, bids, leases, government contracts, performance and return-of-money
bonds and other similar obligations (exclusive of obligations for the payment
of borrowed money);

 

       (v)       
Liens in connection with attachments or judgments (including judgment or
appeal bonds) provided that the judgments secured shall, within
30 days after the entry thereof, have been discharged or execution thereof
stayed pending appeal, or shall have been discharged within 30 days after
the expiration of any such stay;

 

       (vi)       
easements, rights-of-way, restrictions (including zoning restrictions),
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;

 

       (vii)       
leases or subleases granted to others not interfering in any material respect
with the business of the Borrower and its Subsidiaries taken as a whole;

       
(viii)        Liens in favor of customs
and revenue authorities arising as a matter of law to secure payment of
customs duties in connection with the importation of goods;

       
(ix)        Liens on assets at the time
such assets are acquired by the Borrower or any Subsidiary in accordance
with Section 7.3(d); provided that such Liens are not created in
contemplation of such acquisition;

       
(x)        Liens on assets of any Person
at the time such Person becomes a Subsidiary in accordance with Section
7.3(d); provided that such Liens are not created in contemplation
of such Person becoming a Subsidiary;

       
(xi)        normal and customary rights
of setoff upon deposits of cash in favor of banks or other depository institutions;

       
(xii)        Liens on receivables sold
pursuant to a Commercial Credit Business Arrangement;

       
(xiii)        Liens on inventory held
by the Borrower or any of its Subsidiaries under consignment;

       
(xiv)        Liens on any inventory
of the Borrower or any of its Subsidiaries in favor of a vendor of such
inventory, arising in the normal course of business upon its sale to the
Borrower or any such Subsidiary; and

       
(xv)        other Liens on Property
of the Borrower and its Subsidiaries, so long as the Borrower and its Subsidiaries
own at all times Property (a) unencumbered by any Liens other than Liens
permitted by clauses (i) through (xiv) above and (b), having an aggregate
fair market value of at least $2,000,000,000.

       
"Person" means any individual, partnership, joint venture, firm,
corporation, limited liability company, association, trust or other enterprise
(whether or not incorporated) or any Governmental Authority.

       
"Plan" means any employee benefit plan (as defined in Section 3(3)
of ERISA) which is covered by ERISA and with respect to which the Borrower,
any Subsidiary of the Borrower or any ERISA Affiliate is (or, if such plan
were terminated at such time, would under Section 4069 of ERISA be deemed
to be) an "employer" within the meaning of Section 3(5) of ERISA.

       
"Pricing Level" means the applicable pricing level for the Applicable
Percentage shown in Schedule 1.1.

       
"Prime Rate" means the rate of interest per annum publicly announced
or established from time to time by Fleet as its prime rate in effect at
its principal office in Boston, Massachusetts, with each change in the
Prime Rate being effective on the date such change is publicly announced
as effective (it being understood and agreed that the Prime Rate is a reference
rate used by Fleet in determining interest rates on certain loans and is
not intended to be the lowest rate of interest charged on any extension
of credit by Fleet to any debtor).

       
"Property" means any interest in any kind of property or asset,
whether real, personal or mixed, or tangible or intangible.

       
"Quoted Rate" means, with respect to any Quoted Rate Swingline Loan,
the fixed percentage rate per annum offered by the Swingline Lender and
accepted by the Borrower with respect to such Swingline Loan as provided
in accordance with the provisions of Section 2.3.

       
"Quoted Rate Swingline Loan" means a Swingline Loan bearing interest
at a Quoted Rate.

       
"Register" shall have the meaning given such term in Section 10.3(c).

       
"Regulation D, T, U, or X" means Regulation D, T, U or X, respectively,
of the Board of Governors of the Federal Reserve System as from time to
time in effect and any successor to all or a portion thereof.

       
"Release" means any spilling, leaking, pumping, pouring, emitting,
emptying, discharging, injecting, escaping, leaching, dumping or disposing
into the environment (including the abandonment or discarding of barrels,
containers and other closed receptacles containing any Materials of Environmental
Concern).

       
"Reportable Event" means any of the events set forth in Section
4043(c) of ERISA, other than those events as to which the notice requirement
has been waived by regulation.

       
"Required Lenders" means, at any time, Lenders which are then in
compliance with their obligations hereunder (as determined by the Administrative
Agent) and holding in the aggregate at least 51% of (i) the Revolving Commitments
and the outstanding Term Loan (and Participation Interests therein) or
(ii) if the Commitments have been terminated, the outstanding Loans and
Participation Interests.

       
"Requirement of Law" means, as to any Person, the certificate of
incorporation and by-laws or other organizational or governing documents
of such Person, and any law, treaty, rule or regulation or determination
of an arbitrator or a court or other Governmental Authority, in each case
applicable to or binding upon such Person or any of its material property
is subject.

       
"Revolving Commitment" means, with respect to each Lender, the commitment
of such Lender in an aggregate principal amount at any time outstanding
not to exceed the amount set forth opposite such Lender's name on Schedule
2.1(a) (as such amount may be reduced or increased from time to time in
accordance with the provisions of this Credit Agreement), (i) to make Revolving
Loans in accordance with the provisions of Section 2.1(a) and (ii) to purchase
participation interests in the Swingline Loans in accordance with the provisions
of Section 2.3(b)(iii).

       
"Revolving Commitment Percentage" means for any Lender, the percentage
identified as its Revolving Commitment Percentage on Schedule 2.1(a),
as such percentage may be modified in connection with any assignment made
in accordance with the provisions of Section 10.3.

       
"Revolving Committed Amount" shall have the meaning assigned to
such term in Section 2.1(a).

       
"Revolving Facilities" means a collective reference to (i) the revolving
loan facility established pursuant to Section 2.1 and (ii) the Existing
Five-Year Facility.

       
"Revolving Loans" shall have the meaning assigned to such term in
Section 2.1(a).

       
"Revolving Note" means a promissory note of the Borrower in favor
of a Lender delivered pursuant to Section 2.1(e) and evidencing the Revolving
Loans of such Lender, as such promissory note may be amended, modified,
restated or replaced from time to time.

       
"S&P" means Standard & Poor's Ratings Services, a division
of The McGraw-Hill Companies, Inc., or any successor or assignee of the
business of such division in the business of rating securities.

       
"SPV" has the meaning set forth in Section 10.3(e).

       
"Single Employer Plan" means any Plan which is covered by Title
IV of ERISA, but which is not a Multiemployer Plan or a Multiple Employer
Plan.

       
"Subsidiary" means, as to any Person, (a) any corporation more than
50% of whose stock of any class or classes having by the terms thereof
ordinary voting power to elect a majority of the directors of such corporation
(irrespective of whether or not at the time, any class or classes of such
corporation shall have or might have voting power by reason of the happening
of any contingency) is at the time owned by such Person directly or indirectly
through Subsidiaries, and (b) any partnership, association, joint venture
or other entity in which such Person directly or indirectly through Subsidiaries
has more than 50% equity interest at any time.

       
"Swingline Commitment" means the commitment of the Swingline Lender
to make Swingline Loans in an aggregate principal amount at any time outstanding
of up to the Swingline Committed Amount.

       
"Swingline Committed Amount' shall have the meaning assigned to
such term in Section 2.3(a).

       
"Swingline Lender" means Fleet National Bank.

       
"Swingline Loan" shall have the meaning assigned to such term in
Section 2.3(a).

       
"Swingline Note" means the promissory note of the Borrower in favor
of the Swingline Lender substantially in the form of Schedule 2.3(d),
as such promissory note may be amended, modified, restated or replaced
from time to time.

       
"Syndication Agent" shall have the meaning assigned to such term
in the heading hereof together with any successors and assigns.

       
"Termination Date" means (i) as to the Revolving Loans, Swingline
Loans and Competitive Loans, May 20, 2003, as such date may be extended
pursuant to Section 3.4 and (ii) as to the Term Loan, November 22, 2004.

       
"Term Loan" shall have the meaning assigned to such term in Section
2.4(a).

       
"Term Loan Commitment" means, with respect to each Lender, the commitment
of such Lender to make its portion of the Term Loan in a principal amount
equal to such Lender's Term Loan Commitment Percentage (if any) of the
Term Loan.

       
"Term Loan Commitment Percentage" means for any Lender, the percentage
identified as its Term Loan Commitment Percentage on Schedule 2.1(a),
as such percentage may be modified in connection with any assignment made
in accordance with the provisions of Section 10.3.

       
"Term Note" means a promissory note of the Borrower in favor of
a Lender delivered pursuant to Section 2.4(e) and evidencing the portion
of the Term Loan made by such Lender, as such promissory note may be amended,
modified, restated or replaced from time to time.

       
"Utilization Fee" shall have the meaning set forth in Section 3.5(c).

       
"Utilization Fee Period" shall have the meaning assigned to such
term in Section 3.5(c).

        1.2  Computation
of Time Periods.

       
For purposes of computation of periods of time hereunder, the word "from"
means "from and including" and the words "to" and "until" each mean "to
but excluding."

        1.3  Accounting
Terms.

       
Except as otherwise expressly provided herein, all accounting terms used
herein shall be interpreted, and all financial statements and certificates
and reports as to financial matters required to be delivered to the Lenders
hereunder shall be prepared, in accordance with GAAP applied on a consistent
basis.  All calculations made for the purposes of determining compliance
with this Credit Agreement shall (except as otherwise expressly provided
herein) be made by application of GAAP applied on a basis consistent with
the most recent annual or quarterly financial statements delivered pursuant
to Section 6.1 hereof (or. prior to the delivery of the first financial
statements pursuant to Section 6.1 hereof, consistent with the financial
statements as at August 27, 2001; provided, however, if (a)
the Borrower shall object to determining such compliance on such basis
at the time of delivery of such financial statements due to any change
in GAAP or the rules promulgated with respect thereto or (b) the Administrative
Agent or the Required Lenders shall so object in writing within 30 days
after delivery of such financial statements, then such calculations shall
be made on a basis consistent with the most recent financial statements
delivered by the Borrower to the Lenders as to which no such objection
shall have been made.

SECTION 2
CREDIT FACILITIES

        2.1    
Revolving Loans.

           
(a)  Revolving Commitment.  Subject to the terms and conditions
hereof and in reliance upon the representations and warranties set forth
herein, each Lender severally agrees to make available to the Borrower
revolving credit loans requested by the Borrower in Dollars ("Revolving
Loans") up to such Lender's Revolving Commitment from time to time
from the Closing Date until the Termination Date, or such earlier date
as the Revolving Commitments shall have been terminated as provided herein
for the purposes hereinafter set forth; provided, however,
that the sum of the aggregate principal amount of outstanding Revolving
Loans shall not exceed THREE HUNDRED MILLION DOLLARS ($300,000,000.00)
(as such aggregate maximum amount may be reduced from time to time as provided
in Sections 3.3 and 3.4, the "Revolving Committed Amount"); provided,
further,
(i) with regard to each Lender individually, such Lender's outstanding
Revolving Loans shall not exceed such Lender's Revolving Commitment, and
(ii) with regard to the Lenders collectively, the aggregate principal amount
of outstanding Revolving Loans plus the aggregate principal amount
of outstanding Competitive Loans plus the aggregate principal amount
of outstanding Swingline Loans shall not exceed the Revolving Committed
Amount.  Revolving Loans may consist of Base Rate Loans or Eurodollar
Loans, or a combination thereof, as the Borrower may request, and may be
repaid and reborrowed in accordance with the provisions hereof; provided,
however,
that no more than 25 Eurodollar Loans shall be outstanding hereunder at
any time.  For purposes hereof, Eurodollar Loans with different Interest
Periods shall be considered as separate Eurodollar Loans, even if they
begin on the same date, although borrowings, extensions and conversions
may, in accordance with the provisions hereof, be combined at the end of
existing Interest Periods to constitute a new EurodollarLoan with a single
Interest Period.  Revolving Loans hereunder may be repaid and reborrowed
in accordance with the provisions hereof.

                   
(b)        Revolving Loan Borrowings.

           
(i)  Notice of Borrowing.  The Borrower shall request
a Revolving Loan borrowing by written notice (or telephone notice promptly
confirmed in writing) to the Administrative Agent not later than 11:30
A.M. (Boston, Massachusetts time) on the Business Day of the requested
borrowing in the case of Base Rate Loans, and not later than 2:00 P.M.(Boston,
Massachusetts time) on the third Business Day prior to the date of the
requested borrowing in the case of Eurodollar Loans.  Each such request
for borrowing shall be irrevocable, executed by a Financial Officer of
the Borrower and shall specify (A) that a Revolving Loan is requested,
(B) the date of the requested borrowing (which shall be a Business Day),
(C) the aggregate principal amount to be borrowed, and (D) whether the
borrowing shall be comprised of Base Rate Loans, Eurodollar Loans or a
combination thereof, and if Eurodollar Loans are requested, the Interest
Period(s) therefor.  If the Borrower shall fail to specify in any
such Notice of Borrowing (I) an applicable Interest Period in the case
of a Eurodollar Loan, then such notice shall be deemed to be a request
for an Interest Period of one month, or (II) the type of Revolving Loan
requested, then such notice shall be deemed to be a request for a Base
Rate Loan hereunder.  The Administrative Agent shall give notice to
each affected Lender promptly upon receipt of each Notice of Borrowing
pursuant to this Section 2.1(b)(i), the contents thereof and each such
Lender's share of any borrowing to be made pursuant thereto.

           
(ii)  Minimum Amounts.  Each Eurodollar Loan or Base Rate
Loan that is a Revolving Loan shall be in a minimum aggregate principal
amount of $5,000,000 and integral multiples of $1,000,000 in excess thereof
(or the remaining amount of the Revolving Committed Amount, if less).

 

           (iii)
Advances. 
Each Lender will make its Revolving Commitment Percentage of each Revolving
Loan borrowing available to the Administrative Agent for the account of
the Borrower as specified in Section 3.14(a), or in such other manner
as the Administrative Agent may specify in writing, by 1:00 P.M. (Boston,
Massachusetts time) on the date specified in the applicable Notice of Borrowing
in Dollars and in funds immediately available to the Administrative Agent. 
Such borrowing will then be made available to the Borrower by the Administrative
Agent by crediting the Master Account with the aggregate of the amounts
made available to the Administrative Agent by the Lenders and in like funds
as received by the Administrative Agent.

         
(c)  Repayment.  The principal amount of all Revolving
Loans shall be due and payable in full on the Termination Date, subject
to the provisions of Sections 3.4(c) and (d).

(d)
Interest. 
Subject to the provisions of Section 3.1,

 

          (i)  Base
Rate Loans.  During such periods as Revolving Loans shall be comprised
in whole or in part of Base Rate Loans, such Base Rate Loans shall bear
interest at a per annum rate equal to the Base Rate
plus the Applicable
Percentage; and

 

        (ii)  Eurodollar
Loans.  During such periods as Revolving Loans shall be comprised
in whole or in part of Eurodollar Loans, such Eurodollar Loans shall bear
interest at a per annum rate equal to the Eurodollar Rate plus the
Applicable Percentage.

         
Interest on Revolving Loans shall be payable in arrears on each applicable
Interest Payment Date (or at such other times as may be specified herein).

 

       (e)  Revolving Notes. 
The Revolving Loans made by each Lender shall be evidenced by a duly executed
promissory note of the Borrower to such Lender in an original principal
amount equal to such Lender's Revolving Commitment and in substantially
the form of Schedule 2.1(e).

          2.2
Competitive
Loan Subfacility.

       
(a)  Competitive Loans.  Subject to the terms and conditions
and relying upon the representations and warranties herein set forth, the
Borrower may, from time to time from the Closing Date until the Termination
Date, request and each Lender may, in its sole discretion, agree to make,
Competitive Loans in Dollars to the Borrower; provided,
however,
that (i) the aggregate principal amount of outstanding Competitive Loans
shall not at any time exceed the Revolving Committed Amount, and (ii) the
sum of the aggregate principal amount of outstanding Revolving Loans plus
the aggregate principal amount of outstanding Competitive Loans plus
the aggregate principal amount of outstanding Swingline Loans shall not
at any time exceed the Revolving Committed Amount.  Each Competitive
Loan shall be not less than $10,000,000 in the aggregate and integral multiples
of $1,000,000 in excess thereof (or the remaining portion of the Revolving
Committed Amount, if less).

 

       (b)  Competitive Bid Requests. 
The Borrower may solicit by making a written or telefax request to all
of the Lenders for a Competitive Loan.  To be effective, such request
must be received by each of the Lenders by 2:00 P.M. (Boston, Massachusetts
time) one Business Day prior to the date of the requested borrowing
and must specify (i) that a Competitive Loan is requested, (ii) the amount
of such Competitive Loan and (iii) the Interest Period for such Competitive
Loan.

 

       (c)  Competitive Bids. 
Upon receipt of a request by the Borrower for a Competitive Loan, each
Lender may, in its sole discretion, submit a Competitive Bid containing
an offer to make a Competitive Loan in an amount up to the amount specified
in the related request for Competitive Loans.  Such Competitive Bid
shall be submitted to the Borrower by telephone notice (to be immediately
confirmed by telecopy) no later than 10:30 A.M. (Boston, Massachusetts
time) on the date of the requested Competitive Loan.  Competitive
Bids so made shall be irrevocable.  Each Competitive Bid shall specify
(i) the date of the proposed Competitive Loan, (ii) the maximum and minimum
principal amounts of the Competitive Loan for which such offer is being
made (which may be for all or a part of (but not more than) the amount
requested by the Borrower), (iii) the applicable Competitive Bid Rate,
and (iv) the applicable Interest Period.

 

       (d)  Acceptance of Competitive
Bids.  The Borrower may, before 1:00 P.M. (Boston, Massachusetts
time) on the date of the requested Competitive Loan, accept any Competitive
Bid by giving the applicable Lender and the Administrative Agent telephone
notice (immediately confirmed in writing) of (i) the Lender or Lenders
whose Competitive Bid(s) is/are accepted, (ii) the principal amount of
the Competitive Bid(s) so accepted and (iii) the Interest Period of the
Competitive Bid(s) so accepted.  The Borrower may accept any Competitive
Bid in whole or in part; provided, however, that (a) the principal amount
of each Competitive Loan may not exceed the maximum amount offered in the
Competitive Bid and may not be less than the minimum amount offered in
the Competitive Bid, (b) the principal amount of each Competitive Loan
may not exceed the total amount requested pursuant to subsection (a) above,
(c) the Borrower shall not accept a Competitive Bid made at a particular
Competitive Bid Rate if it has decided to reject a Competitive Bid made
at a lower Competitive Bid Rate and (d) if the Borrower shall accept a
Competitive Bid or Bids made at a particular Competitive Bid Rate but the
amount of such Competitive Bid or Bids shall cause the total amount of
Competitive Bids to be accepted by the Borrower to exceed the total amount
requested pursuant to subsection (a) above, then the Borrower shall accept
a portion of such Competitive Bid or Bids in an amount equal to the total
amount requested pursuant to subsection (a) above less the amount of other
Competitive Bids accepted with respect to such request, which acceptance,
in the case of multiple Competitive Bids at the same Competitive Bid Rate,
shall be made pro rata in accordance with each such Competitive Bid at
such Competitive Bid Rate.  Competitive Bids so accepted by the Borrower
shall be irrevocable.

 

       
(e)  Funding of Competitive Loans.  Upon acceptance by
the Borrower pursuant to subsection (d) above of all or a portion of any
Lender's Competitive Bid, such Lender shall, before such time as determined
by such Lender in accordance with such Lender's customary practices, on
the date of the requested Competitive Loan, make such Competitive Loan
available by crediting the Master Account with the amount of such Competitive
Loan.

       
(f)  Competitive Notes.  The Competitive Loans of each
Lender shall be evidenced by a single Competitive Note duly executed on
behalf of the Borrower, dated the date hereof, in substantially the form
of Schedule 2.2(f), payable to the order of such Lender.

 

       (g)  Repayment of Competitive
Loans.  The Borrower shall repay to each Lender which has made
a Competitive Loan on the last day of the Interest Period for such Competitive
Loan the then unpaid principal amount of such Competitive Loan.  Unless
the Borrower shall repay the maturing Competitive Loan or give to notice
to the Administrative Agent of its intent to otherwise repay such Loan
not later than 11:30 A.M. (Boston, Massachusetts time) on the last day
of the Interest Period, the Borrower shall be deemed to have requested
a Revolving Loan advance comprised of Base Rate Loans in the amount of
the maturing Competitive Loan, the proceeds of which will be used to repay
such Competitive Loan.

 

       (h)  Interest on Competitive
Loans.  The Borrower shall pay interest to each Lender on the
unpaid principal amount of each Competitive Loan from and including the
date of such Competitive Loan to but excluding the stated maturity date
thereof, at the applicable Competitive Bid Rate for such Competitive Loan
(computed on the basis of the actual number of days elapsed over a year
of 360 days).  Interest on Competitive Loans shall be payable in arrears
on each applicable Interest Payment Date (or at such other times as may
be specified herein).

 

       (i)  Limitation on Number
of Competitive Loans.  The Borrower shall not request a Competitive
Loan if, assuming the maximum amount of Competitive Loans so requested
is borrowed as of the date of such request, the sum of the aggregate principal
amount of outstanding Revolving Loans plus the aggregate principal amount
of outstanding Competitive Loans plus the aggregate principal amount of
outstanding Swingline Loans would exceed the aggregate Revolving Committed
Amount.

 

       (j)  Change in Procedures
for Requesting Competitive Loans.  The Borrower and the Lenders
hereby agree that, notwithstanding any other provision to the contrary
contained in this Credit Agreement, upon mutual agreement of the Administrative
Agent and the Borrower and written notice by the Administrative Agent to
the Lenders, all further requests by the Borrower for Competitive Loans
shall be made by the Borrower to the Lenders through the Administrative
Agent in accordance with such procedures as shall be prescribed by the
Administrative Agent and acceptable to the Borrower and each Lender.

2.3    
Swingline Loan Subfacility.

 

       
(a)  Swingline Commitment.  Subject to the terms and conditions
hereof and in reliance upon the representations and warranties herein set
forth, the Swingline Lender, in its individual capacity, agrees to make
certain revolving credit loans requested by the Borrower in Dollars to
the Borrower (each a "Swingline Loan" and, collectively, the "Swingline
Loans") from time to time from the Closing Date until the Termination
Date for the purposes hereinafter set forth; provided,
however,
(i) the aggregate principal amount of Swingline Loans outstanding at any
time shall not exceed FIFTY MILLION DOLLARS ($50,000,000.00)
(the "Swingline Committed Amount"), and (ii) the aggregate principal
amount of outstanding Revolving Loans plus the aggregate principal
amount of outstanding Competitive Loans plus the aggregate principal
amount of outstanding Swingline Loans shall not exceed the Revolving Committed
Amount.  Swingline Loans hereunder shall be made as Base Rate Loans
or Quoted Rate Swingline Loans as the Borrower may request in accordance
with the provisions of this Section 2.3, and may be repaid and reborrowed
in accordance with the provisions hereof.

 

       (b)  Swingline Loan Advances.

       
(i)  Notices; Disbursement.  Whenever the Borrower desires
a Swingline Loan advance hereunder it shall give written notice (or telephone
notice promptly confirmed in writing) to the Swingline Lender not later
than 2:00 P.M. (Boston, Massachusetts time) on the Business Day
of the requested Swingline Loan advance.  Each such notice shall be
irrevocable and shall specify (A) that a Swingline Loan advance is requested,
(B) the date of the requested Swingline Loan advance (which shall be a
Business Day) and (C) the principal amount of the Swingline Loan advance
requested.  Each Swingline Loan shall be made as a Base Rate Loan
or a Quoted Rate Swingline Loan and shall have such maturity date as the
Swingline Lender and the Borrower shall agree upon receipt by the Swingline
Lender of any such notice from the Borrower.  The Swingline Lender
shall initiate the transfer of funds representing the Swingline Loan advance
to the Master Account by 3:30 P.M. (Boston, Massachusetts time) on the
Business Day of the requested borrowing.

 

       (ii)  Minimum Amounts. 
Each Swingline Loan advance shall be in a minimum principal amount of $1,000,000
and in integral multiples of $500,000 in excess thereof (or the remaining
amount of the Swingline Committed Amount, if less).

 

       (iii)  Repayment of Swingline
Loans.  The principal amount of all Swingline Loans shall be due
and payable on the earlier of (A) the maturity date agreed to by the Swingline
Lender and the Borrower with respect to such Loan (which maturity date
shall not be a date more than seven (7) Business Days from the date of
advance thereof) or (B) the Termination Date.  The Swingline Lender
may, at any time, in its sole discretion, by written notice to the Borrower
and the Lenders, demand repayment of its Swingline Loans by way of a Revolving
Loan advance, in which case the Borrower shall be deemed to have requested
a Revolving Loan advance comprised solely of Base Rate Loans in the amount
of such Swingline Loans; provided,
however, that any such
demand shall be deemed to have been given one Business Day prior to the
Termination Date and on the date of the occurrence of any Event of Default
described in Section 8.1 and upon acceleration of the indebtedness hereunder
and the exercise of remedies in accordance with the provisions of Section
8.2.  Each Lender hereby irrevocably agrees to make its pro rata share
of each such Revolving Loan in the amount, in the manner and on the date
specified in the preceding sentence notwithstanding (I) the amount
of such borrowing may not comply with the minimum amount for advances of
Revolving Loans otherwise required hereunder, (II) whether any conditions
specified in Section 4.2 are then satisfied, (III) whether a Default or
an Event of Default then exists, (IV) failure of any such request or deemed
request for Revolving Loan to be made by the time otherwise required hereunder,
(V) whether the date of such borrowing is a date on which Revolving Loans
are otherwise permitted to be made hereunder or (VI) any termination of
the Commitments relating thereto immediately prior to or contemporaneously
with such borrowing.  In the event that any Revolving Loan cannot
for any reason be made on the date otherwise required above (including,
without limitation, as a result of the commencement of a proceeding under
the Bankruptcy Code with respect to the Borrower), then each Lender hereby
agrees that it shall forthwith purchase (as of the date such borrowing
would otherwise have occurred, but adjusted for any payments received from
the Borrower on or after such date and prior to such purchase) from the
Swingline Lender such participations in the outstanding Swingline Loans
as shall be necessary to cause each such Lender to share in such Swingline
Loans ratably based upon its Revolving Commitment Percentage (determined
before giving effect to any termination of the Commitments pursuant to
Section 3.4), provided that (A) all interest payable on the Swingline
Loans shall be for the account of the Swingline Lender until the date as
of which the respective participation is purchased and (B) at the time
any purchase of participations pursuant to this sentence is actually made,
the purchasing Lender shall be required to pay to the Swingline Lender,
to the extent not paid to the Swingline Lender by the Borrower in accordance
with the terms of subsection (c)(ii) hereof, interest on the principal
amount of participation purchased for each day from and including the day
upon which such borrowing would otherwise have occurred to but excluding
the date of payment for such participation, at the rate equal to the Federal
Funds Rate.

       
(c)      Interest on Swingline Loans.

       
(i)      Subject to the provisions of Section
3.1, each Swingline Loan shall bear interest as follows:

       
(A)  Base Rate Loans.  If such Swingline Loan is a Base
Rate Loan, at a per annum rate (computed on the basis of the actual number
of days elapsed over a year of 365 days) equal to the Base Rate plus
the Applicable Percentage.

       
(B)  Quoted Rate Swingline Loans.  If such Swingline Loan
is a Quoted Rate Swingline Loan, at a per annum rate (computed on the basis
of the actual number of days elapsed over a year of 360 days) equal to
the Quoted Rate applicable thereto.

Notwithstanding
any other provision to the contrary set forth in this Credit Agreement,
in the event that the principal amount of any Quoted Rate Swingline Loan
is not repaid on the last day of the Interest Period for such Loan, then
such Loan shall be automatically converted into a Base Rate Loan at the
end of such Interest Period.

 

       (ii)  Payment of Interest. 
Interest on Swingline Loans shall be payable in arrears on each applicable
Interest Payment Date (or at such other times as may be specified herein).

       
(d)  Swingline Note.  The Swingline Loans shall be evidenced
by a duly executed promissory note of the Borrower to the Swingline Lender
in an original principal amount equal to the Swingline Committed Amount
substantially in the form of Schedule 2.3(d).

 

2.4        Term Loan

           
(a)        Term Loan Commitment. 
Subject to the terms and conditions hereof and in reliance upon the representations
and warranties set forth herein, each Lender severally made available to
the Borrower on May 22, 2001 such Lender's Term Loan Commitment Percentage
of a term loan in Dollars in the aggregate principal amount of TWO-HUNDRED
MILLION DOLLARS ($200,000,000.00) (as such term loan may be
increased pursuant to Section 2.4(f), the "Term Loan").  The
Term Loan may consist of Base Rate Loans or Eurodollar Loans, or a combination
thereof, as the Borrower may request; provided,
however,
that no more than 8 Eurodollar Loans shall be outstanding hereunder
at any time (it being understood that, for purposes hereof, Eurodollar
Loans with different Interest Periods shall be considered as separate Eurodollar
Loans, even if they begin on the same date, although borrowings, extensions
and conversions may, in accordance with the provisions hereof, be combined
at the end of existing Interest Periods to constitute a new Eurodollar
Loan with a single Interest Period).  Amounts repaid on the Term Loan
may not be reborrowed.  Notwithstanding the foregoing, in order to
simplify administrative issues and most efficiently re-allocate the Term
Loan among Lenders according to their Term Loan Commitments as of the Closing
Date, the $200,000,000 Term Loan funded on May 22, 2001 may be repaid by
the Borrower on or before the Closing Date and re-advanced to the Borrower
within three (3) Business Days of the Closing Date.  Accordingly,
in the event the $200,000,000 Term Loan funded on May 22, 2001 is in fact
repaid by the Borrower on or before the Closing Date, each Lender severally
agrees to make available to the Borrower on the Closing Date such Lender's
Term Loan Commitment Percentage of a new Term Loan in the aggregate principal
amount of $200,000,000.00 (and, if applicable, to fund its Incremental
Term Loan Commitment, if any, pursuant to Section 2.4(f)).

           
(b)  Minimum Amounts.  Each Eurodollar Loan or Base Rate
Loan that is part of the Term Loan shall be in an aggregate principal amount
that is not less than $5,000,000 and integral multiples of $1,000,000 (or
the then remaining principal balance of the Term Loan, if less).

 

           
(c) Repayment of Term Loan.  The entire unpaid principal amount
of the Term Loan shall be due and payable in full on the Termination Date.

 

           (d) Interest. 
Subject to the provisions of Section 3.1:

       
(i)  Base Rate Loans.  During such periods as the Term
Loan shall be comprised in whole or in part of Base Rate Loans, such Base
Rate Loans shall bear interest at a per annum rate equal to the Base Rate
plus the Applicable Percentage; and

 

       
(ii)  Eurodollar Loans.  During such periods as the Term
Loan shall be comprised in whole or in part of Eurodollar Loans, such Eurodollar
Loans shall bear interest at a per annum rate equal to the Eurodollar Rate
plus the Applicable Percentage.

Interest
on the Term Loan shall be payable in arrears on each applicable Interest
Payment Date (or at such other times as may be specified herein).

 

       (e)  Term Notes. 
The portion of the Term Loan made by each Lender shall be evidenced by
a duly executed promissory note of the Borrower to such Lender substantially
in the form of Schedule 2.4(e).

 

        (f)  Increase of
Term Loan.  Upon providing prior written notice to the Administrative
Agent and the Syndication Agent, the Borrower shall have the right on the
Closing Date, or any time thereafter, to make incremental increases to
the Term Loan up to an aggregate amount of $150,000,000 for all such increases
(i.e., the aggregate amount of the Term Loan shall not exceed $350,000,000),
which increases shall be funded by existing or new Lenders that have agreed
to provide an incremental Term Loan Commitment (an "Incremental Term Loan
Commitment"), provided that (x) any such increases to be funded
on the Closing Date shall be in accordance with the initial Incremental
Term Loan Commitments as set forth on Schedule 2.1(a) attached hereto
and (y) any such increases to be funded after the Closing Date shall be
subject to the satisfaction of each of the following terms and conditions:

       
(i)  to the knowledge of the Administrative Agent, no Default or Event
of Default shall exist and be continuing at the time of such increase;

       
(ii)  concurrently with the Borrower's request for such increase hereunder,
the Borrower shall deliver to the Administrative Agent an officer's certificate
substantially in the form of Schedule 6.1(c) certifying that no Default
or Event of Default has occurred and is continuing and demonstrating compliance
with each of the financial covenants set forth in Sections 6.10 and 6.11
both before and after giving effect to the increase requested hereunder;

 

        (iii)  each incremental
Term Loan increase pursuant to this Section 2.4(f)(y) shall be in a minimum
principal amount of $10,000,000 and in increments of $1,000,000 in excess
thereof;

 

        (iv)  such incremental
increase shall be allocated in the following order:

       
(A)   first, to the existing Lenders consenting to an Incremental
Term Loan Commitment; provided that if the aggregate Incremental
Term Loan Commitments requested by the existing Lenders shall exceed the
requested increase in the Term Loan, the Incremental Term Loan Commitments
of such Lenders shall be allocated on a pro rata basis according to the
existing Term Loan Commitment Percentages of such Lenders; and

 

        (B)  second, to any
other commercial bank, financial institution or "accredited investor" (as
defined in Regulation D of the Securities and Exchange Commission) reasonably
acceptable to the Administrative Agent and the Borrower;

       
(v)  each Person providing an Incremental Term Loan Commitment shall
execute an Incremental Term Loan Commitment Agreement substantially in
the form of Schedule 2.4(f) hereto and, upon such execution and
the satisfaction of the other terms and conditions of this Section 2.4(f),
such Person shall thereupon become a party hereto and have the rights and
obligations of a Lender under this Credit Agreement as more specifically
provided in the Incremental Term Loan Commitment Agreement; and

 

        (vi)  the Administrative
Agent shall promptly notify each Lender of (A) the incremental increase
to the Term Loan and (B) each Lender's Incremental Term Loan Commitment
with respect to such increase.

Subject
to the terms and conditions hereof and in reliance upon the representations
and warranties set forth herein, each Lender that has provided an Incremental
Term Loan Commitment severally agrees to make available to the Borrower,
on the requested effective date (which date shall be a Business Day) of
the relevant incremental increase in the Term Loan, such Lender's pro rata
share (based upon the proportion such Lender's Incremental Term Loan Commitment
bears to the total incremental increase in the Term Loan) of a term loan
in Dollars in the aggregate principal amount corresponding to such incremental
increase in the Term Loan.  The Borrower agrees that, in connection
with any such increase in the Term Loan, it will promptly provide to each
Lender providing an Incremental Term Loan Commitment (and to the extent
such Lender has not already received a Term Note) a Term Note in the amount
of its Incremental Term Loan Commitment substantially in the form of the
Term Note attached hereto as Schedule 2.4(e).  Each of the
parties hereto acknowledges and agrees that no Lender shall be obligated
to offer an Incremental Term Loan Commitment pursuant to the terms of this
Section 2.4(f).

SECTION 3

OTHER PROVISIONS RELATING TO CREDIT FACILITIES

3.1    Default Rate.

           
Upon the occurrence, and during the continuance, of an Event of Default,
the principal of and, to the extent permitted by law, interest on the Loans
and any other amounts owing hereunder or under the other Credit Documents
shall bear interest, payable on demand, at a per annum rate 1% greater
than the rate which would otherwise be applicable (or if no rate is applicable,
whether in respect of interest, fees or other amounts, then 1% greater
than the Base Rate).

3.2    Extension and Conversion.

           
Subject to the terms of Section 4.2, the Borrower shall have the option,
on any Business Day, to extend existing Loans into a subsequent permissible
Interest Period or to convert Loans into Loans of another interest rate
type; provided,
however, that (a) except as provided in Section
3.8, Eurodollar Loans may be converted into Base Rate Loans only on the
last day of the Interest Period applicable thereto, (b) Eurodollar Loans
may be extended, and Base Rate Loans may be converted into Eurodollar Loans,
only if no Default or Event of Default is in existence on the date of extension
or conversion, (c) Loans extended as, or converted into, Eurodollar Loans
shall be subject to the terms of the definition of "Interest Period"
set forth in Section 1.1 and shall be in such minimum amounts as provided
in Section 2.1(b)(ii), (d) no more than 25 Eurodollar Loans shall be outstanding
hereunder at any time (it being understood that, for purposes hereof, Eurodollar
Loans with different Interest Periods shall be considered as separate Eurodollar
Loans, even if they begin on the same date, although borrowings, extensions
and conversions may, in accordance with the provisions hereof, be combined
at the end of existing Interest Periods to constitute a new Eurodollar
Loan with a single Interest Period), (e) any request for extension or conversion
of a Eurodollar Loan which shall fail to specify an Interest Period shall
be deemed to be a request for an Interest Period of one month and (f) Competitive
Loans and Swingline Loans may not be extended or converted pursuant to
this Section 3.2.  Each such extension or conversion shall be effected
by a Financial Officer of the Borrower giving a Notice of Extension/Conversion
(or telephone notice promptly confirmed in writing) to the Administrative
Agent prior to 11:30 A.M. (Boston, Massachusetts time) on the Business
Day of, in the case of the extension of Base Rate Loans, and prior to 2:00
P.M. (Boston, Massachusetts time) on the third Business Day prior to, in
the case of the extension of a Eurodollar Loan as, or conversion of a Base
Rate Loan into, a Eurodollar Loan, the date of the proposed extension or
conversion, specifying the date of the proposed extension or conversion,
the Loans to be so extended or converted, the types of Loans into which
such Loans are to be converted and, if appropriate, the applicable Interest
Periods with respect thereto.  Each request for extension or conversion
shall be irrevocable and shall constitute a representation and warranty
by the Borrower of the matters specified in subsections (b), (c), (d) and
(e) of Section 4.2.  In the event the Borrower fails to request extension
or conversion of any Eurodollar Loan in accordance with this Section, or
any such conversion or extension is not permitted or required by this Section,
then such Eurodollar Loan shall be automatically converted into a Base
Rate Loan at the end of the Interest Period applicable thereto.  The
Administrative Agent shall give each Lender notice as promptly as practicable
of any such proposed extension or conversion affecting any Loan.

3.3   Prepayments.

       
(a)  Voluntary Prepayments.  The Borrower shall have the
right to prepay Loans (other than Competitive Bid Loans, which may not
be prepaid) in whole or in part from time to time, subject to Section 3.11,
but otherwise without premium or penalty; provided,
however,
that (i) Eurodollar Loans may only be prepaid on three Business Days' prior
written notice to the Administrative Agent and specifying the applicable
Loans to be prepaid; (ii) any prepayment of Eurodollar Loans or Quoted
Rate Swingline Loans will be subject to Section 3.11 and (iii) each such
partial prepayment of Loans shall be (A) in the case of Revolving Loans
or the Term Loan (or portion thereof), in a minimum principal amount of
$5,000,000 and multiples of $1,000,000 in excess thereof (or, if less,
the full remaining amount of the Revolving Loan or Term Loan being prepaid)
and (B) in the case of Swingline Loans, in a minimum principal amount of
$1,000,000 and multiples of $500,000 in excess thereof (or, if less, the
full remaining amount of the then outstanding Swingline Loans).  Subject
to the foregoing terms, amounts prepaid under this Section 3.3(a) shall
be applied as the Borrower may elect.

       
(b)  Mandatory Prepayments.

       
(i)  Commitment Limitation.  If at any time, the sum of
the aggregate principal amount of outstanding Revolving Loans plus the
aggregate principal amount of outstanding Competitive Loans plus the aggregate
principal amount of outstanding Swingline Loans shall exceed the Revolving
Committed Amount, the Borrower promises to prepay immediately the outstanding
principal balance on the Revolving Loans and/or Competitive Loans in an
amount sufficient to eliminate such excess.

 

       (ii)  Debt and Equity
Issuances.  During any period in which the Borrower has a senior
unsecured (non-credit enhanced) long term debt rating from S&P of below
BBB- and a senior unsecured (non-credit enhanced) long term debt rating
from Moody's of below Baa3, immediately upon receipt by the Borrower or
any Subsidiary of proceeds from any Debt or Equity Issuance (as defined
below) the Borrower shall cause 50% of the net cash proceeds of such Debt
or Equity Issuance to be applied as follows:

       
(A)  to prepay the principal amount of any borrowings outstanding
under the Revolving Facilities, with such prepayment applied pro rata to
the Revolving Facilities (based on outstanding commitments thereunder)
to the extent of outstanding borrowings under each Revolving Facility (it
being understood that the aggregate amount of prepayments required to be
made by the Borrower under both Revolving Facilities shall not exceed 50%
of the net cash proceeds of such Debt or Equity Issuance); and

 

       (B)  to permanently reduce
on a Dollar for Dollar basis commitments outstanding under the Revolving
Facilities (regardless of whether there are any outstanding borrowings
being prepaid), with such reductions applied pro rata to the Revolving
Facilities (based on outstanding commitments thereunder) to the extent
of outstanding commitments under each Revolving Facility (it being understood
that the aggregate amount of commitment reductions required to be made
by the Borrower under both Revolving Facilities shall not exceed 50% of
the net cash proceeds of such Debt or Equity Issuance and that a commitment
reduction under a Revolving Facility shall reduce the individual commitments
of the lenders under such facility on a pro rata basis).

Any
prepayment made pursuant to this Section 3.3(b)(ii) shall be accompanied
by interest on the principal amount prepaid through the date of prepayment. 
For purposes hereof, "Debt or Equity Issuance" means the issuance
by the Borrower or any of its Subsidiaries (to a Person other than the
Borrower or any of its Subsidiaries) of (I) any Indebtedness for borrowed
money in the form of publicly issued or privately placed bonds or other
debt securities with a maturity of three years or greater or (II) any shares
of capital stock or other equity securities (other than shares of capital
stock issued by the Borrower or any of its Subsidiaries in connection with
the exercise of stock options).

       
(c)  General.  All prepayments made pursuant to this Section
3.3 shall (i) be subject to Section 3.11 and (ii) unless the Borrower shall
specify otherwise, be applied first to Base Rate Loans, if any, and then
to Eurodollar Loans in direct order of Interest Period maturities. 
Except as otherwise set forth in subclause (b) above, amounts prepaid on
the Revolving Loans may be reborrowed in accordance with the provisions
hereof.

3.4    Termination and Reduction of Revolving
Committed Amount.

       
(a)  Voluntary Reductions.  The Borrower may from time
to time permanently reduce or terminate the Revolving Committed Amount
in whole or in part (in minimum aggregate amounts of $5,000,000 or in integral
multiples of $1,000,000 in excess thereof (or, if less, the full remaining
amount of the then applicable Revolving Committed Amount)) upon five Business
Days' prior written notice to the Administrative Agent; provided,
however,
no such termination or reduction shall be made which would cause the aggregate
principal amount of outstanding Revolving Loans plus the aggregate principal
amount of outstanding Competitive Loans plus the aggregate principal amount
of outstanding Swingline Loans to exceed the Revolving Committed Amount
unless, concurrently with such termination or reduction, the Revolving
Loans and/or Competitive Loans are repaid to the extent necessary to eliminate
such excess.  The Administrative Agent shall promptly notify each
affected Lender of receipt by the Administrative Agent of any notice from
the Borrower pursuant to this Section 3.4(a).

 

       (b) Termination Date.  
Subject to subclauses (c) and (d) below, the Revolving Commitments of the
Lenders shall automatically terminate on the Termination Date.

 

       (c)  Extension. 
The Borrower may, no earlier than 60 days and no later than 30 days prior
to the Termination Date applicable to Revolving Loans, Swingline Loans
and Competitive Loans, by notice to the Administrative Agent, make written
request of the Lenders to extend such Termination Date for an additional
period of 364 days.  The Administrative Agent will give prompt notice
to each of the Lenders of its receipt of any such request for extension
of such Termination Date.  Each Lender, in its sole discretion, shall
make a determination not more than 30 days nor less than 25 days prior
to such Termination Date as to whether or not it will agree to extend such
Termination Date as requested; provided,
however, that failure
by any Lender to make a timely response to the Borrower's request for extension
of such Termination Date shall be deemed to constitute a refusal by the
Lender to extend such Termination Date.  If, in response to a request
for an extension of such Termination Date, one or more Lenders shall fail
to agree to the requested extension (the "Disapproving Lenders"),
then the Borrower may elect to either (A) continue the revolving credit
facility hereunder at the same level of Revolving Commitments by replacing
each of the Disapproving Lenders in accordance with Section 3.16, or (B)
provided that the requested extension is approved by Lenders holding at
least 51% of the Revolving Commitments hereunder (including for purposes
hereof any Replacement Lenders which may replace a Disapproving Lender,
the "Approving Lenders"), extend and continue the revolving credit
facility at a lower aggregate amount equal to the Revolving Commitments
held by the Approving Lenders.  In any such case, (i) such Termination
Date relating to the Revolving Commitments held by the Disapproving Lenders
shall remain as then in effect with repayment of obligations held by such
Disapproving Lenders being due on such date and termination of their respective
Revolving Commitments on such date, and (ii) such Termination Date relating
to the Revolving Commitments held by the Approving Lenders shall be extended
by an additional period of 364 days.

 

      (d)  Term Out Option. 
If (i) the Borrower shall have delivered to the Administrative Agent a
written notice requesting an extension of the Termination Date applicable
to Revolving Loans, Swingline Loans and Competitive Loans at least three
(3) Business Days prior to such Termination Date then in effect (which
notice the Administrative Agent shall promptly transmit to each Lender)
and (ii) no Default or Event of Default exists on the otherwise applicable
Termination Date, then such otherwise applicable Termination Date shall
be extended (provided that no prior elections have been made under this
Section 2.4(d)) to the first anniversary of such Termination Date then
in effect.  No additional borrowings under the Revolving Credit Facility
set forth in Section 2.1 may be made during such extension period and any
amounts repaid on Loans outstanding under such facility during such extension
period may not be reborrowed.  The otherwise Applicable Percentage
on all Loans outstanding under this option shall be increased by an additional
0.250% per annum.

3.5    Fees.

       
(a)  Facility Fee.  In consideration of the Revolving
Commitments of the Lenders hereunder, the Borrower agrees to pay to the
Administrative Agent for the account of each Lender a fee (the "Facility
Fee") on the Revolving Committed Amount computed at a per annum rate
for each day during the applicable Facility Fee Calculation Period (hereinafter
defined) equal to the Applicable Percentage in effect from time to time. 
The Facility Fee shall commence to accrue on the Closing Date and shall
be due and payable in arrears on the last Business Day of each March, June,
September and December (and any date that the Revolving Committed Amount
is reduced as provided in Section 3.4 and the Termination Date) for the
immediately preceding quarter (or portion thereof) (each such quarter or
portion thereof for which the Facility Fee is payable hereunder being herein
referred to as a 'Facility Fee Calculation Period"), beginning with
the first of such dates to occur after the Closing Date.

 

       (b)  Administrative Fees. 
The Borrower agrees to pay to the Administrative Agent, for its own account,
the fees referred to in the Administrative Agent's Fee Letter (collectively,
the "Administrative Agent's Fee").

 

       (c)  Utilization Fee. 
During such periods as the aggregate principal amount of all outstanding
Loans (other than the Term Loan) is greater than or equal to 33% of the
Revolving Committed Amount (each a "Utilization Fee Period"), the
Borrower agrees to pay to the Administrative Agent for the account of each
Lender a fee (the "Utilization Fee") on all Loans (other than the
Term Loan) outstanding during each such Utilization Fee Period computed
at a per annum rate for each day during such period equal to the Applicable
Percentage for the Utilization Fee in effect from time to time.  The
Utilization Fee shall be due and payable in arrears on the last Business
Day of each March, June, September and December for all Utilization Fee
Periods occurring during the immediately preceding quarter (or portion
thereof), beginning with the first of such dates to occur after the Closing
Date.

 

3.6 Capital Adequacy.

           
If any Lender determines the amount of capital required or expected to
be maintained by such Lender, any Lending Installation of such Lender or
any corporation controlling such Lender is increased as a result of a Change,
then, within 15 days of demand by such Lender, the Borrower shall pay such
Lender the amount necessary to compensate for any shortfall in the rate
of return on the portion of such increased capital which such Lender determines
is attributable to this Credit Agreement, its Loans or its obligation to
make Loans hereunder (after taking into account such Lender's policies
as to capital adequacy).  "Change" means (i) any change after the
Closing Date in the Risk-Based Capital Guidelines or (ii) any adoption
of or change in any other law, governmental or quasi-governmental rule,
regulation, policy, guideline, interpretation, or directive (whether or
not having the force of law) after the Closing Date which affects the amount
of capital required or expected to be maintained by any Lender or any Lending
Installation or any corporation controlling any Lender.  "Risk-Based
Capital Guidelines" means (i) the risk-based capital guidelines in effect
in the United States on the Closing Date, including transition rules, and
(ii) the corresponding capital regulations promulgated by regulatory authorities
outside the United States implementing the July 1988 report of the Basle
Committee on Banking Regulation and Supervisory Practices Entitled "International
Convergence of Capital Measurements and Capital Standards," including transition
rules, and any amendments to such regulations adopted prior to the Closing
Date.

3.7    Inability To Determine Interest
Rate.

           
If prior to the first day of any Interest Period, the Administrative Agent
shall have reasonably determined that, by reason of circumstances affecting
the relevant market, adequate and reasonable means do not exist for ascertaining
the Eurodollar Rate for such Interest Period, the Administrative Agent
shall give telecopy or telephonic notice thereof to the Borrower and the
Lenders as soon as practicable thereafter.  If such notice is given
(a) any Eurodollar Loans requested to be made on the first day of such
Interest Period shall be made as Base Rate Loans and (b) any Loans that
were to have been converted on the first day of such Interest Period to
or continued as Eurodollar Loans shall be converted to or continued as
Base Rate Loans.  Until such notice has been withdrawn by the Administrative
Agent, no further Eurodollar Loans shall be made or continued as such,
nor shall the Borrower have the right to convert Base Rate Loans to Eurodollar
Loans.

3.8    Illegality.

           
Notwithstanding any other provision herein, if the adoption of or any change
in any Requirement of Law or in the interpretation or application thereof
occurring after the Closing Date shall make it unlawful for any Lender
to make or maintain Eurodollar Loans as contemplated by this Credit Agreement,
(a) such Lender shall promptly give written notice of such circumstances
to the Borrower and the Administrative Agent (which notice shall be withdrawn
whenever such circumstances no longer exist), (b) the commitment of such
Lender hereunder to make Eurodollar Loans, continue Eurodollar Loans as
such and convert a Base Rate Loan to Eurodollar Loans shall forthwith be
canceled and, until such time as it shall no longer be unlawful for such
Lender to make or maintain Eurodollar Loans, such Lender shall then have
a commitment only to make a Base Rate Loan when a Eurodollar Loan is requested
and (c) such Lender's Loans then outstanding as Eurodollar Loans, if any,
shall be converted automatically to Base Rate Loans on the respective last
days of the then current Interest Periods with respect to such Loans or
within such earlier period as required by law.  If any such conversion
of a Eurodollar Loan occurs on a day which is not the last day of the then
current Interest Period with respect thereto, the Borrower shall pay to
such Lender such amounts, if any, as may be required pursuant to Section
3.11.

3.9    Yield Protection.

           
If any law or any governmental or quasi-governmental rule, regulation,
policy, guideline or directive (whether or not having the force of law),
or any interpretation thereof, or the compliance of any Lender therewith,

       
(a)  subjects any Lender or any applicable Lending Installation to
any tax, duty, charge or withholding on or from payments due from the Borrower
(excluding federal taxation of the overall net income of any Lender or
applicable Lending Installation), or changes the basis of taxation of payments
to any Lender in respect of its Loans or other amounts due it hereunder;

       
(b)  imposes or increases or deems applicable any reserve, assessment,
insurance charge, special deposit or similar requirements against assets
of, depositswith or for the account of, or credit extended by, any Lender
or any applicable Lending Installation (other than reserves and assessments
taken into account in determining the Base Rate);

 and
the result of which is to increase the cost to any Lender of making, funding
or maintaining loans or reduces any amount receivable by any Lender or
any applicable Lending Installation in connection with loans, or requires
any Lender or any applicable Lending Installation to make any payment calculated
by reference to the amount of loans held or interest received by it, by
an amount deemed material by such Lender;

then,
within 15 days of demand by such Lender, the Borrower shall pay such Lender
that portion of such increased expense incurred or reduction in an amount
received which such Lender determines is attributable to making, funding
and maintaining its Loans and its Commitments. This covenant shall survive
the termination of this Credit Agreement and the payment of the Loans and
all other amounts payable hereunder.

3.10    Withholding Tax Exemption.

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

(a) 
(i)  on or before the date of any payment by the Borrower under this
Credit Agreement or Notes to such Lender, deliver to the Borrower and the
Administrative Agent (A) two (2) duly completed copies of United States
Internal Revenue Service Form 1001 or 4224, or successor applicable form,
as the case may be, certifying that it is entitled to receive payments
under this Credit Agreement and any Notes without deduction or withholding
of any United States federal income taxes and (B) an Internal Revenue Service
Form W-8 or W-9, or successor applicable form, as the case may be, certifying
that it is entitled to an exemption from United States backup withholding
tax;

 

       (ii)  deliver to the Borrower
and the Administrative Agent two (2) further copies of any such form or
certification on or before the date that any such form or certification
expires or becomes obsolete and after the occurrence of any event requiring
a change in the most recent form previously delivered by it to the Borrower;
and

 

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

         
(b)  in the case of any such Lender that is not a "bank" within the
meaning of Section 881(c)(3)(A) of the Internal Revenue Code, (i) represent
to the Borrower (for the benefit of the Borrower and the Administrative
Agent) that it is not a bank within the meaning of Section 881(c)(3)(A)
of the Internal Revenue Code, (ii) agree to furnish to the Borrower on
or before the date of any payment by the Borrower, with a copy to the Administrative
Agent two (2) accurate and complete original signed copies of Internal
Revenue Service Form W-8, or successor applicable form certifying to such
Lender's legal entitlement at the date of such certificate to an exemption
from U.S. withholding tax under the provisions of Section 881(c) of the
Internal Revenue Code with respect to payments to be made under this Credit
Agreement and any Notes (and to deliver to the Borrower and the Administrative
Agent two (2) further copies of such form on or before the date it expires
or becomes obsolete and after the occurrence of any event requiring a change
in the most recently provided form and, if necessary, obtain any extensions
of time reasonably requested by the Borrower or the Administrative Agent
for filing and completing such forms), and (iii) agree, to the extent legally
entitled to do so, upon reasonable request by the Borrower, to provide
to the Borrower (for the benefit of the Borrower and the Administrative
Agent) such other forms as may be reasonably required in order to establish
the legal entitlement of such Lender to an exemption from withholding with
respect to payments under this Credit Agreement and any Notes;

unless
in any such case any change in treaty, law or regulation has occurred after
the date such Person becomes a Lender hereunder which renders all such
forms inapplicable or which would prevent such Lender from duly completing
and delivering any such form with respect to it and such Lender so advises
the Borrower and the Administrative Agent in either case.  Each Person
that shall become a Lender or a participant of a Lender pursuant to subsection
10.3 shall, upon the effectiveness of the related transfer, be required
to provide all of the forms, certifications and statements required pursuant
to this subsection, provided that in the case of a participant of
a Lender the obligations of such participant of a Lender pursuant to this
Section 3.10 shall be determined as if the participant of a Lender were
a Lender except that such participant of a Lender shall furnish all such
required forms, certifications and statements to the Lender from which
the related participation shall have been purchased.

3.11    Indemnity.

           
The Borrower promises to indemnify each Lender and to hold each Lender
harmless from any loss or expense which such Lender may sustain or incur
(other than through such Lender's gross negligence or willful misconduct)
as a consequence of (a) default by the Borrower in making a borrowing of,
conversion into or continuation of Eurodollar Loans or Quoted Rate Swingline
Loans after the Borrower has given a notice requesting the same in accordance
with the provisions of this Credit Agreement, (b) default by the Borrower
in making any prepayment of a Eurodollar Loan or a Quoted Rate Swingline
Loan after the Borrower has given a notice thereof in accordance with the
provisions of this Credit Agreement or (c) the making of a prepayment of
Eurodollar Loans or Quoted Rate Swingline Loans on a day which is not the
last day of an Interest Period with respect thereto.  With respect
to Eurodollar Loans, such indemnification may include an amount equal to
the excess, if any, of (i) the amount of interest which would have accrued
on the amount so prepaid, or not so borrowed, converted or continued, for
the period from the date of such prepayment or of such failure to borrow,
convert or continue to the last day of the applicable Interest Period (or,
in the case of a failure to borrow, convert or continue, the Interest Period
that would have commenced on the date of such failure) in each case at
the applicable rate of interest for such Eurodollar Loans provided for
herein (excluding, however, the Applicable Percentage included therein,
if any) over (ii) the amount of interest (as reasonably determined by such
Lender) which would have accrued to such Lender on such amount by placing
such amount on deposit for a comparable period with leading banks in the
interbank Eurodollar market.  The covenants of the Borrower set forth
in this Section 3.11 shall survive the termination of this Credit Agreement
and the payment of the Loans and all other amounts payable hereunder.

3.12    Pro Rata Treatment.

           
Except to the extent otherwise provided herein:

       
(a)  Loans.  Each Loan, each payment or prepayment of
principal of any Loan, each payment of interest on the Loans, each payment
of Facility Fees, each payment of Utilization Fees, each reduction of the
Revolving Committed Amount and each conversion or extension of any Loan,
shall be allocated pro rata among the Lenders in accordance with the respective
principal amounts of their outstanding Loans and Participation Interests. 
With respect to Competitive Loans, if the Borrower fails to specify the
particular Competitive Loan or Loans as to which any payment or other amount
should be applied and it is not otherwise clear as to the particular Competitive
Loan or Loans to which such payment or other amounts relate, or any such
payment or other amount is to be applied to Competitive Loans without regard
to any such direction by the Borrower, then each payment or prepayment
of principal on Competitive Loans and each payment of interest or other
amount on or in respect of Competitive Loans, shall be allocated pro rata
among the relevant Lenders of Competitive Loans in accordance with the
then outstanding amounts of their respective Competitive Loans.

 

       
(b)  Advances.  Unless the Administrative Agent shall
have been notified in writing by any Lender prior to a borrowing that such
Lender will not make the amount that would constitute its ratable share
of such borrowing available to the Administrative Agent, the Administrative
Agent may assume that such Lender is making such amount available to the
Administrative Agent, and the Administrative Agent may, in reliance upon
such assumption, make available to the Borrower a corresponding amount. 
If such amount is not made available to the Administrative Agent by such
Lender within the time period specified therefor hereunder, such Lender
shall pay to the Administrative Agent, on demand, such amount with interest
thereon at a rate equal to the Federal Funds Rate for the period until
such Lender makes such amount immediately available to the Administrative
Agent.  A certificate of the Administrative Agent submitted to any
Lender with respect to any amounts owing under this subsection shall be
conclusive in the absence of manifest error.

3.13
Sharing
of Payments.

               
The Lenders agree among themselves that, in the event that any Lender shall
obtain payment in respect of any Loan or any other obligation owing to
such Lender under this Credit Agreement through the exercise of a right
of setoff, banker's lien or counterclaim, or pursuant to a secured claim
under Section 506 of Title 11 of the United States Code or other security
or interest arising from, or in lieu of, such secured claim, received by
such Lender under any applicable bankruptcy, insolvency or other similar
law or otherwise, or by any other means, in excess of its pro rata share
of such payment as provided for in this Credit Agreement, such Lender shall
promptly purchase from the other Lenders a participation in such Loans
and other obligations in such amounts, and make such other adjustments
from time to time, as shall be equitable to the end that all Lenders share
such payment in accordance with their respective ratable shares as provided
for in this Credit Agreement.  The Lenders further agree among themselves
that if payment to a Lender obtained by such Lender through the exercise
of a right of setoff, banker's lien, counterclaim or other event as aforesaid
shall be rescinded or must otherwise be restored, each Lender which shall
have shared the benefit of such payment shall, by repurchase of a participation
theretofore sold, return its share of that benefit (together with its share
of any accrued interest payable with respect thereto) to each Lender whose
payment shall have been rescinded or otherwise restored.  The Borrower
agrees that any Lender so purchasing such a participation may, to the fullest
extent permitted by law, exercise all rights of payment, including setoff,
banker's lien or counterclaim, with respect to such participation as fully
as if such Lender were a holder of such Loan or other obligation in the
amount of such participation.  Except as otherwise expressly provided
in this Credit Agreement, if any Lender or the Administrative Agent shall
fail to remit to the Administrative Agent or any other Lender an amount
payable by such Lender or the Administrative Agent to the Administrative
Agent or such other Lender pursuant to this Credit Agreement on the date
when such amount is due, such payments shall be made together with interest
thereon for each date from the date such amount is due until the date such
amount is paid to the Administrative Agent or such other Lender at a rate
per annum equal to the Federal Funds Rate.  If under any applicable
bankruptcy, insolvency or other similar law, any Lender receives a secured
claim in lieu of a setoff to which this Section 3.13 applies, such Lender
shall, to the extent practicable, exercise its rights in respect of such
secured claim in a manner consistent with the rights of the Lenders under
this Section 3.13 to share in the benefits of any recovery on such secured
claim.

3.14    Payments, Computations, Etc.

       
(a)  Except as otherwise specifically provided herein, all payments
hereunder (other than payments in respect of Competitive Loans) shall be
made to the Administrative Agent in dollars in immediately available funds,
without offset, deduction, counterclaim or withholding of any kind, at
the Administrative Agent's office specified in Schedule 2.1(a) not
later than 4:00 P.M. (Boston, Massachusetts time) on the date when due. 
Payments received after such time shall be deemed to have been received
on the next succeeding Business Day.  The Administrative Agent may
(but shall not be obligated to) debit the amount of any such payment which
is not made by such time to any ordinary deposit account of the Borrower
maintained with the Administrative Agent (with notice to the Borrower). 
The Borrower shall, at the time it makes any payment under this Credit
Agreement (other than payments in respect of Competitive Loans), specify
to the Administrative Agent the Loans, Fees, interest or other amounts
payable by the Borrower hereunder to which such payment is to be applied
(and in the event that it fails so to specify, or if such application would
be inconsistent with the terms hereof, the Administrative Agent shall distribute
such payment to the Lenders in such manner as the Administrative Agent
may determine to be appropriate in respect of obligations owing by the
Borrower hereunder, subject to the terms of Section 3.12(a)).  The
Administrative Agent will distribute such payments to such Lenders, if
any such payment is received prior to 12:00 Noon (Boston, Massachusetts
time) on a Business Day in like funds as received prior to the end of such
Business Day and otherwise the Administrative Agent will distribute such
payment to such Lenders on the next succeeding Business Day.  All
payments of principal and interest in respect of Competitive Loans shall
be made in accordance with the terms of Section 2.2.  Whenever any
payment hereunder shall be stated to be due on a day which is not a Business
Day, the due date thereof shall be extended to the next succeeding Business
Day (subject to accrual of interest and Fees for the period of such extension),
except that in the case of Eurodollar Loans, if the extension would cause
the payment to be made in the next following calendar month, then such
payment shall instead be made on the next preceding Business Day. 
Except as expressly provided otherwise herein, all computations of interest
and fees shall be made on the basis of actual number of days elapsed over
a year of 360 days, except with respect to computation of interest on Base
Rate Loans which (unless the Base Rate is determined by reference to the
Federal Funds Rate) shall be calculated based on a year of 365 or 366 days,
as appropriate.  Interest shall accrue from and include the date of
borrowing, but exclude the date of payment.

 

       (b)  Allocation of Payments
After Event of Default.  Notwithstanding any other provisions
of this Credit Agreement to the contrary, after the occurrence and during
the continuance of an Event of Default, all amounts collected or received
by the Administrative Agent or any Lender on account of the Loans, Fees
or any other amounts outstanding under any of the Credit Documents shall
be paid over or delivered as follows:

       
FIRST, to the payment of all reasonable out-of-pocket costs and expenses
(including without limitation reasonable attorneys' fees) of the Administrative
Agent in connection with enforcing the rights of the Lenders under the
Credit Documents;

 

       SECOND, to payment of any fees
owed to the Administrative Agent;

 

       
THIRD, to the payment of all reasonable out-of-pocket costs and expenses
(including without limitation, reasonable attorneys' fees) of each of the
Lenders in connection with enforcing its rights under the Credit Documents
or otherwise with respect to amounts owing to such Lender;

 

       FOURTH, to the payment of accrued
fees and interest;

 

       FIFTH, to the payment of the outstanding
principal amount of the Loans;

 

       SIXTH, to all other amounts and
other obligations which shall have become due and payable under the Credit
Documents or otherwise and not repaid pursuant to clauses "FIRST" through
"FIFTH" above; and

 

       SEVENTH, to the payment of the
surplus, if any, to whoever may be lawfully entitled to receive such surplus.

In
carrying out the foregoing, (i) amounts received shall be applied in the
numerical order provided until exhausted prior to application to the next
succeeding category; and (ii) each of the Lenders shall receive an amount
equal to its pro rata share (based on the proportion that the then outstanding
Loans held by such Lender bears to the aggregate then outstanding Loans)
of amounts available to be applied pursuant to clauses "THIRD", "FOURTH",
"FIFTH" and "SIXTH" above.

3.15    Evidence of Debt.

       
(a)  Each Lender shall maintain an account or accounts evidencing
each Loan made by such Lender to the Borrower from time to time, including
the amounts of principal and interest payable and paid to such Lender from
time to time under this Credit Agreement.  Each Lender will make reasonable
efforts to maintain the accuracy of its account or accounts and to promptly
update its account or accounts from time to time, as necessary.

 

       (b)  The Administrative Agent
shall maintain the Register pursuant to Section 10.3(c) hereof, and a subaccount
for each Lender, in which Register and subaccounts (taken together) shall
be recorded (i) the amount, type and Interest Period of each such Loan
hereunder, (ii) the amount of any principal or interest due and payable
or to become due and payable to each Lender hereunder and (iii) the amount
of any sum received by the Administrative Agent hereunder from or for the
account of the Borrower and each Lender's share thereof.  The Administrative
Agent will make reasonable efforts to maintain the accuracy of the subaccounts
referred to in the preceding sentence and to promptly update such subaccounts
from time to time, as necessary.

 

      (c)  The entries made in the accounts,
Register and subaccounts maintained pursuant to subsection (b) of this
Section 3.15 (and, if consistent with the entries of the Administrative
Agent, subsection (a)) shall be prima facie, but not conclusive, evidence
of the existence and amounts of the obligations of the Borrower therein
recorded; provided, however, that the failure of any Lender
or the Administrative Agent to maintain any such account, such Register
or such subaccount, as applicable, or any error therein, shall not in any
manner affect the obligation of the Borrower to repay the Loans made by
such Lender in accordance with the terms hereof.

3.16
Replacement
of Lenders.

               
In the event any Lender delivers to the Borrower any notice in accordance
with Sections 3.6, 3.8, 3.9 or 3.10, then the Borrower shall have the right,
if no Default or Event of Default then exists, to replace such Lender (the
"Replaced Lender") with one or more additional banks or financial
institutions (collectively, the "Replacement Lender"), provided
that (A) at the time of any replacement pursuant to this Section 3.16,
the Replacement Lender shall enter into one or more assignment agreements
substantially in the form of Schedule 10.3(b) pursuant to, and in
accordance with the terms of, Section 10.3(b) (and with all fees payable
pursuant to said Section 10.3(b) to be paid by the Replacement Lender)
pursuant to which the Replacement Lender shall acquire all of the rights
and obligations of the Replaced Lender hereunder and, in connection therewith,
shall pay to the Replaced Lender in respect thereof an amount equal to
the sum of (a) the principal of, and all accrued interest on, all outstanding
Loans of the Replaced Lender, and (b) all accrued, but theretofore unpaid,
fees owing to the Replaced Lender pursuant to Section 3.5(a), and (B) all
obligations of the Borrower owing to the Replaced Lender (including all
obligations, if any, owing pursuant to Section 3.6, 3.8 or 3.9, but excluding
those obligations specifically described in clause (A) above in respect
of which the assignment purchase price has been, or is concurrently being
paid) shall be paid in full to such Replaced Lender concurrently with such
replacement.

SECTION 4

CONDITIONS

4.1    Closing Conditions.

           
The obligation of the Lenders to enter into this Credit Agreement and to
make the initial Loans shall be subject to satisfaction of the following
conditions (in form and substance acceptable to the Lenders):

           
(a)  The Administrative Agent shall have received original counterparts
of this Credit Agreement executed by each of the parties hereto;

 

           (b) 
The Administrative Agent shall have received an appropriate original Revolving
Note for each Lender that has not already been issued an appropriate original
Revolving Note, executed by the Borrower;

 

           (c) 
The Administrative Agent shall have received an appropriate original Competitive
Note for each Lender that has not already been issued an appropriate original
Competitive Note, executed by the Borrower;

 

           (d) 
The Administrative Agent shall have received an appropriate original Swingline
Note for the Swingline Lender, executed by the Borrower;

 

           (e) 
The Administrative Agent shall have received an appropriate original Term
Note for each Lender, executed by the Borrower;

 

           
(f)  The Administrative Agent shall have received all documents it
may reasonably request relating to the existence and good standing of the
Borrower, the corporate or other necessary authority for and the validity
of the Credit Documents, and any other matters relevant thereto, all in
form and substance reasonably satisfactory to the Administrative Agent;

 

           (g) 
The Administrative Agent shall have received a legal opinion of Harry L.
Goldsmith, Esq., general counsel for the Borrower, dated as of the Closing
Date and substantially in the form of Schedule 4.1(g);

 

           (h) 
Since August 27, 2001 there shall not have occurred nor otherwise exist
an event or condition which has a Material Adverse Effect;

 

           (i) 
The Administrative Agent shall have received, for its own account and for
the accounts of the Lenders, all fees and expenses required by this Credit
Agreement or any other Credit Document to be paid on or before the Closing
Date;

 

           (j) 
The Administrative Agent shall have received copies of assignments substantially
in the form of Schedule 10.3(b) necessary to effectuate this Credit
Agreement, if any, that have been or will be consummated prior to or concurrently
with the Closing Date; and

 

           (k) 
The Administrative Agent shall have received such other documents, agreements
or information which may be reasonably requested by the Administrative
Agent.

4.2    Conditions to all Extensions of
Credit.

           
The obligations of each Lender to make, convert or extend any Loan (including
the initial Loans) are subject to satisfaction of the following conditions
in addition to satisfaction on the Closing Date of the conditions set forth
in Section 4.1:

           
(a)  The Borrower shall have delivered, in the case of any Revolving
Loan (or conversion or extension of a portion of the Term Loan), an appropriate
Notice of Borrowing or Notice of Extension/Conversion, as applicable;

 

           (b) 
The representations and warranties set forth in Section 5 shall be, subject
to the limitations set forth therein, true and correct in all material
respects as of such date (except for those which expressly relate to an
earlier date);

 

           (c) 
There shall not have been commenced against the Borrower an involuntary
case under any applicable bankruptcy, insolvency or other similar law now
or hereafter in effect, or any case, proceeding or other action for the
appointment of a receiver, liquidator, assignee, custodian, trustee, sequestrator
(or similar official) of the Borrower or for any substantial part of its
Property or for the winding up or liquidation of its affairs, and such
involuntary case or other case, proceeding or other action shall remain
undismissed, undischarged or unbonded;

 

           (d) 
No Default or Event of Default shall exist and be continuing either prior
to or after giving effect thereto; and

 

           (e) 
Immediately after giving effect to the making of such Loan (and the application
of the proceeds thereof), the sum of the aggregate principal amount of
outstanding Revolving Loans plus the aggregate principal amount of outstanding
Competitive Loans plus the aggregate principal amount of outstanding Swingline
Loans shall not exceed the Revolving Committed Amount.

The
delivery of each Notice of Borrowing and each Notice of Extension/Conversion
shall constitute a representation and warranty by the Borrower of the correctness
of the matters specified in subsections (b), (c), (d) and (e) above.

SECTION 5

REPRESENTATIONS AND WARRANTIES

The Borrower hereby represents to the Administrative Agent and
each Lender that:

5.1    Financial Condition.

           
The audited consolidated balance sheet of the Borrower and its consolidated
Subsidiaries as of August 27, 2001 and the audited consolidated statements
of earnings and statements of cash flows for the year ended August 27,
2001 have heretofore been furnished to each Lender.  Such financial
statements (including the notes thereto) (a) have been audited by Ernst
& Young LLP, (b) have been prepared in accordance with GAAP consistently
applied throughout the periods covered thereby and (c) present fairly (on
the basis disclosed in the footnotes to such financial statements) the
consolidated financial condition, results of operations and cash flows
of the Borrower and its consolidated Subsidiaries as of such date and for
such periods.  During the period from August 27, 2001 to and
including the Closing Date, there has been no sale, transfer or other disposition
by the Borrower or any of its Subsidiaries of any material part of the
business or property of the Borrower and its consolidated Subsidiaries,
taken as a whole, and no purchase or other acquisition by any of them of
any business or property (including any capital stock of any other person)
material in relation to the consolidated financial condition of the Borrower
and its consolidated Subsidiaries, taken as a whole, in each case, which,
is not reflected in the foregoing financial statements or in the notes
thereto and has not otherwise been disclosed in writing to the Lenders
on or prior to the Closing Date.

5.2    Organization; Existence; Compliance
with Law.

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

5.3    Power; Authorization; Enforceable
Obligations.

           
The Borrower has the corporate or other necessary power and authority,
and the legal right, to make, deliver and perform the Credit Documents
to which it is a party, and in the case of the Borrower, to borrow hereunder,
and has taken all necessary corporate action to authorize the borrowings
on the terms and conditions of this Credit Agreement and to authorize the
execution, delivery and performance of the Credit Documents to which it
is a party.  No consent or authorization of, filing with, notice to
or other similar act by or in respect of, any Governmental Authority or
any other Person is required to be obtained or made by or on behalf of
the Borrower in connection with the borrowings hereunder or with the execution,
delivery, performance, validity or enforceability of the Credit Documents
to which the Borrower is a party.  This Credit Agreement has been,
and each other Credit Document to which the Borrower is a party will be,
duly executed and delivered on behalf of the Borrower.  This Credit
Agreement constitutes, and each other Credit Document to which the Borrower
is a party when executed and delivered will constitute, a legal, valid
and binding obligation of the Borrower enforceable against such party in
accordance with its terms, except as enforceability may be limited by applicable
bankruptcy, insolvency, reorganization, moratorium or similar laws affecting
the enforcement of creditors' rights generally and by general equitable
principles (whether enforcement is sought by proceedings in equity or at
law).

5.4    No Legal Bar.

           
The execution, delivery and performance of the Credit Documents by the
Borrower, the borrowings hereunder and the use of the proceeds thereof
(a) will not violate any Requirement of Law or contractual obligation of
the Borrower or any of its Subsidiaries in any respect that would reasonably
be expected to have a Material Adverse Effect, (b) will not result in,
or require, the creation or imposition of any Lien on any of the properties
or revenues of any of the Borrower or any of its Subsidiaries pursuant
to any such Requirement of Law or contractual obligation, and (c) will
not violate or conflict with any provision of the Borrower's articles of
incorporation or by-laws.

5.5    No Material Litigation.

           
Except as disclosed in Schedule 5.5, there are no actions, suits or proceedings
pending or, to the best knowledge of the Borrower, threatened against or
affecting the Borrower, any of its Subsidiaries or any of its properties
before any Governmental Authority that (a) could reasonably be expected
to have a Material Adverse Effect or (b) in any manner draw into question
the validity, legality or enforceability of any Credit Document or any
transaction contemplated thereby.

5.6    No Default.

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

5.7    Ownership of Property; Liens.

           
Each of the Borrower and its Subsidiaries has good record and marketable
title in fee simple to, or a valid leasehold interest in, all its material
real property, and good title to, or a valid leasehold interest in, all
its other material property, and none of such property is subject to any
Lien, except for Permitted Liens.

5.8    No Burdensome Restrictions.

           
Except as previously disclosed in writing to the Lenders on or prior to
the Closing Date, no Requirement of Law or contractual obligation of the
Borrower or any of its Subsidiaries would be reasonably expected to have
a Material Adverse Effect.

5.9    Taxes.

           
Each of the Borrower and its Subsidiaries has filed or caused to be filed
all United States federal income tax returns and all other material tax
returns which, to the best knowledge of the Borrower, are required to be
filed and has paid (a) all taxes shown to be due and payable on said returns
or (b) all taxes shown to be due and payable on any assessments of which
it has received notice made against it or any of its property and all other
taxes, fees or other charges imposed on it or any of its property by any
Governmental Authority (other than any (i) taxes, fees or other charges
with respect to which the failure to pay, in the aggregate, would not have
a Material Adverse Effect or (ii) taxes, fees or other charges the amount
or validity of which are currently being contested and with respect to
which reserves in conformity with GAAP have been provided on the books
of such Person), and no tax Lien has been filed, and, to the best knowledge
of the Borrower, no claim is being asserted, with respect to any such tax,
fee or other charge.

5.10    ERISA.

Except
as would not result in a Material Adverse Effect:

 

           (a) 
During the five-year period prior to the date on which this representation
is made or deemed made: (i) no ERISA Event has occurred, and, to the best
knowledge of the Borrower, no event or condition has occurred or exists
as a result of which any ERISA Event could reasonably be expected to occur,
with respect to any Plan; (ii) no "accumulated funding deficiency," as
such term is defined in Section 302 of ERISA and Section 412 of the Code,
whether or not waived, has occurred with respect to any Plan; (iii) each
Single Employer Plan and, to the best knowledge of the Borrower, each Multiemployer
Plan has been maintained, operated, and funded in compliance with its own
terms and in material compliance with the provisions of ERISA, the Code,
and any other applicable federal or state laws; and (iv) no lien in favor
of the PBGC or a Plan has arisen or is reasonably likely to arise on account
of any Plan.

 

           (b) 
The actuarial present value of all "benefit liabilities" (as defined in
Section 4001(a)(16) of ERISA), whether or not vested, under each Single
Employer Plan, as of the last annual valuation date prior to the date on
which this representation is made or deemed made (determined, in each case,
utilizing the actuarial assumptions used in such Plan's most recent actuarial
valuation report), did not exceed as of such valuation date the fair market
value of the assets of such Plan.

 

           (c) 
Neither the Borrower, any of the Subsidiaries of the Borrower nor any ERISA
Affiliate has incurred, or, to the best knowledge of the Borrower, could
be reasonably expected to incur, any withdrawal liability under ERISA to
any Multiemployer Plan or Multiple Employer Plan.  Neither the Borrower,
any of the Subsidiaries of the Borrower nor any ERISA Affiliate would become
subject to any withdrawal liability under ERISA if the Borrower, any of
the Subsidiaries of the Borrower or any ERISA Affiliate were to withdraw
completely from all Multiemployer Plans and Multiple Employer Plans as
of the valuation date most closely preceding the date on which this representation
is made or deemed made.  Neither the Borrower, any of the Subsidiaries
of the Borrower nor any ERISA Affiliate has received any notification that
any Multiemployer Plan is in reorganization (within the meaning of Section
4241 of ERISA), is insolvent (within the meaning of Section 4245 of ERISA),
or has been terminated (within the meaning of Title IV of ERISA), and no
Multiemployer Plan is, to the best knowledge of the Borrower, reasonably
expected to be in reorganization, insolvent, or terminated.

 

           (d) 
No prohibited transaction (within the meaning of Section 406 of ERISA or
Section 4975 of the Code) or breach of fiduciary responsibility has occurred
with respect to a Plan which has subjected or may subject the Borrower,
any of the Subsidiaries of the Borrower or any ERISA Affiliate to any liability
under Sections 406, 409, 502(i), or 502(l) of ERISA or Section 4975 of
the Code, or under any agreement or other instrument pursuant to which
the Borrower, any of the Subsidiaries of the Borrower or any ERISA Affiliate
has agreed or is required to indemnify any person against any such liability.

 

          (e)  Neither
the Borrower, any Subsidiary of the Borrower nor any ERISA Affiliates has
any material liability with respect to "expected post-retirement benefit
obligations" within the meaning of the Financial Accounting Standards Board
Statement 106.

           
(f)  Neither the execution and delivery of this Credit Agreement nor
the consummation of the financing transactions contemplated thereunder
will involve any transaction which is subject to the prohibitions of Sections
404, 406 or 407 of ERISA or in connection with which a tax could be imposed
pursuant to Section 4975 of the Code.  The representation by the Borrower
in the preceding sentence is made in reliance upon and subject to the accuracy
of the Lenders' representation in Section 10.15 with respect to their source
of funds and is subject, in the event that the source of the funds used
by the Lenders in connection with this transaction is an insurance company's
general asset account, to the application of Prohibited Transaction Class
Exemption 95-60, 60 Fed. Reg. 35,925 (1995), compliance with the regulations
issued under Section 401(c)(1)(A) of ERISA, or the issuance of any other
prohibited transaction exemption or similar relief, to the effect that
assets in an insurance company's general asset account do not constitute
assets of an "employee benefit plan" within the meaning of Section 3(3)
of ERISA of a "plan" within the meaning of Section 4975(e)(1) of the Code.

5.11 
Governmental Regulations, Etc.

           
(a)  No part of the proceeds of the Loans will be used, directly or
indirectly, for the purpose of purchasing or carrying any "margin stock"
in violation of Regulation U.  If requested by any Lender or the Administrative
Agent, the Borrower will furnish to the Administrative Agent and each Lender
a statement to the foregoing effect in conformity with the requirements
of FR Form U-1 referred to in said Regulation U.  No indebtedness
being reduced or retired out of the proceeds of the Loans was or will be
incurred for the purpose of purchasing or carrying any margin stock within
the meaning of Regulation U or any "margin security" within the meaning
of Regulation T.  "Margin stock" within the meanings of Regulation
U does not constitute more than 25% of the value of the consolidated assets
of the Borrower and its Subsidiaries.  None of the transactions contemplated
by this Credit Agreement (including, without limitation, the direct or
indirect use of the proceeds of the Loans) will violate or result in a
violation of the Securities Act of 1933, as amended, or the Securities
Exchange Act of 1934, as amended, or regulations issued pursuant thereto,
or Regulation T, U or X.

           
(b)  Neither the Borrower nor any of its Subsidiaries is subject to
regulation under the Public Utility Holding Company Act of 1935, the Federal
Power Act or the Investment Company Act of 1940, each as amended. 
In addition, neither the Borrower nor any of its Subsidiaries is (i) an
"investment company" registered or required to be registered under the
Investment Company Act of 1940, as amended, and is not controlled by such
a company, or (ii) a "holding company", or a "subsidiary company" of a
"holding company", or an "affiliate" of a "holding company" or of a "subsidiary"
of a "holding company", within the meaning of the Public Utility Holding
Company Act of 1935, as amended.

           
(c)  Each of the Borrower and its Subsidiaries has obtained all licenses,
permits, franchises or other governmental authorizations necessary to the
ownership of its respective Property and to the conduct of its business,
except where such failure could not reasonably be expected to have a Material
Adverse Effect.

           
(d)  Neither the Borrower nor any of its Subsidiaries is in violation
of any applicable statute, regulation or ordinance of the United States
of America, or of any state, city, town, municipality, county or any other
jurisdiction, or of any agency thereof (including without limitation, environmental
laws and regulations), except where such violation could not reasonably
be expected to have a Material Adverse Effect.

           
(e)  Each of the Borrower and its Subsidiaries is current with all
material reports and documents, if any, required to be filed with any state
or federal securities commission or similar agency and is in full compliance
in all material respects with all applicable rules and regulations of such
commissions, except where such failure could not reasonably be expected
to have a Material Adverse Effect.

5.12 
Subsidiaries.

 

          Schedule
5.12 sets forth all the Subsidiaries of the Borrower at the Closing
Date, the jurisdiction of their organization and the direct or indirect
ownership interest of the Borrower therein.

5.13    Purpose of Loans.

           
The proceeds of the Loans hereunder shall be used solely by the Borrower
to (a) to refinance existing Indebtedness of the Borrower under existing
credit agreements, (b) repurchase stock in the Borrower, (c) to finance
acquisitions to the extent permitted under this Credit Agreement and (d)
for the working capital, commercial paper back up, capital expenditures
and any other lawful corporate purposes of the Borrower and its Subsidiaries.

SECTION 6

AFFIRMATIVE COVENANTS

            The
Borrower hereby covenants and agrees that so long as this Credit Agreement
is in effect or any amounts payable hereunder or under any other Credit
Document shall remain outstanding, and until all of the Commitments hereunder
shall have terminated:

6.1    Information Covenants.

           
The Borrower will furnish, or cause to be furnished, to the Administrative
Agent and the Lenders:

           
(a)        Annual Financial Statements. 
As soon as available, and in any event within 100 days after the close
of each fiscal year of the Borrower and its Subsidiaries, a consolidated
balance sheet and income statement of the Borrower and its Subsidiaries,
as of the end of such fiscal year, together with related consolidated statements
of operations and retained earnings and of cash flows for such fiscal year,
setting forth in comparative form consolidated figures for the preceding
fiscal year, all such financial information described above to be in reasonable
form and detail and audited by Ernst & Young LLP (or independent certified
public accountants of recognized national standing reasonably acceptable
to the Administrative Agent) and whose opinion shall be to the effect that
such financial statements have been prepared in accordance with GAAP (except
for changes with which such accountants concur) and shall not be limited
as to the scope of the audit or qualified as to the status of the Borrower
and its Subsidiaries as a going concern.

 

           (b) 

Quarterly Financial Statements.  As soon as available, and
in any event within 50 days after the close of each fiscal quarter of the
Borrower and its Subsidiaries (other than the fourth fiscal quarter, in
which case 100 days after the end thereof) a consolidated balance sheet
and income statement of the Borrower and its Subsidiaries, as of the end
of such fiscal quarter, together with related consolidated statements of
operations and retained earnings and of cash flows for such fiscal quarter
in each case setting forth in comparative form consolidated figures for
the corresponding period of the preceding fiscal year, all such financial
information described above to be in reasonable form and detail and reasonably
acceptable to the Administrative Agent, and accompanied by a certificate
of a Financial Officer of the Borrower to the effect that such quarterly
financial statements fairly present in all material respects the financial
condition of the Borrower and its Subsidiaries and have been prepared in
accordance with GAAP, subject to changes resulting from audit and normal
year-end audit adjustments.

 

           (c)     
Officer's Certificate.  At the time of delivery of the financial
statements provided for in Sections 6.1(a) and 6.1(b) above, a certificate
of a Financial Officer of the Borrower substantially in the form of Schedule
6.1(c), (i) demonstrating compliance with the financial covenants contained
in Sections 6.10 and 6.11 by calculation thereof as of the end of each
such fiscal period and (ii) stating that no Default or Event of Default
exists, or if any Default or Event of Default does exist, specifying the
nature and extent thereof and what action the Borrower proposes to take
with respect thereto.

 

           (d)     
Reports.  Promptly upon transmission or receipt thereof, (a) copies
of any filings and registrations with, and reports to or from, the Securities
and Exchange Commission, or any successor agency, and copies of all financial
statements, proxy statements, notices and reports as the Borrower or any
of its Subsidiaries shall send to its shareholders or to a holder of any
Indebtedness owed by the Borrower or any of its Subsidiaries in its capacity
as such a holder and (b) upon the request of the Administrative Agent,
all reports and written information to and from the United States Environmental
Protection Agency, or any state or local agency responsible for environmental
matters, the United States Occupational Health and Safety Administration,
or any state or local agency responsible for health and safety matters,
or any successor agencies or authorities concerning environmental, health
or safety matters.

 

           
(e)  Notices.  Upon obtaining knowledge thereof, the Borrower
will give written notice to the Administrative Agent immediately of (a)
the occurrence of an event or condition consisting of a Default or Event
of Default, specifying the nature and existence thereof and what action
the Borrower propose to take with respect thereto, and (b) the occurrence
of any of the following with respect to the Borrower or any of its Subsidiaries
(i) the pendency or commencement of any litigation, arbitral or governmental
proceeding against such Person which if adversely determined is reasonably
likely to have a Material Adverse Effect, (ii) the institution of any proceedings
against such Person with respect to, or the receipt of notice by such Person
of potential liability or responsibility for violation, or alleged violation
of any federal, state or local law, rule or regulation, including but not
limited to, Environmental Laws, the violation of which would likely have
a Material Adverse Effect, or (iii) any notice or determination concerning
the imposition of any withdrawal liability by a Multiemployer Plan against
such Person or any ERISA Affiliate, the determination that a Multiemployer
Plan is, or is expected to be, in reorganization within the meaning of
Title IV of ERISA or the termination of any Plan.

 

           (f)     
ERISA.  Upon obtaining knowledge thereof, the Borrower will give
written notice to the Administrative Agent promptly (and in any event within
five business days) of: (i) of any event or condition, including, but not
limited to, any Reportable Event, that constitutes, or might reasonably
lead to, an ERISA Event; (ii) with respect to any Multiemployer Plan, the
receipt of notice as prescribed in ERISA or otherwise of any withdrawal
liability assessed against the Borrower or any of its ERISA Affiliates,
or of a determination that any Multiemployer Plan is in reorganization
or insolvent (both within the meaning of Title IV of ERISA); (iii) the
failure to make full payment on or before the due date (including extensions)
thereof of all amounts which the Borrower, any of the Subsidiaries of the
Borrower or any ERISA Affiliate is required to contribute to each Plan
pursuant to its terms and as required to meet the minimum funding standard
set forth in ERISA and the Code with respect thereto; or (iv) any change
in the funding status of any Plan that reasonably could be expected to
have a Material Adverse Effect, together with a description of any such
event or condition or a copy of any such notice and a statement by a Financial
Officer of the Borrower briefly setting forth the details regarding such
event, condition, or notice, and the action, if any, which has been or
is being taken or is proposed to be taken by the Borrower with respect
thereto.  Promptly upon request, the Borrower shall furnish the Administrative
Agent and the Lenders with such additional information concerning any Plan
as may be reasonably requested, including, but not limited to, copies of
each annual report/return (Form 5500 series), as well as all schedules
and attachments thereto required to be filed with the Department of Labor
and/or the Internal Revenue Service pursuant to ERISA and the Code, respectively,
for each "plan year" (within the meaning of Section 3(39) of ERISA).

 

          (g)  Other
Information.  With reasonable promptness upon any such request,
such other information regarding the business, properties or financial
condition of the Borrower or any of its Subsidiaries as the Administrative
Agent or the Required Lenders may reasonably request.

6.2    Preservation of Existence and Franchises.

           
Except as would not result in a Material Adverse Effect, the Borrower will,
and will cause each of its Subsidiaries to, do all things necessary to
preserve and keep in full force and effect its existence, rights, franchises
and authority.

6.3    Books and Records.

           
The Borrower will, and will cause each of its Subsidiaries to, keep complete
and accurate books and records of its transactions in accordance with good
accounting practices on the basis of GAAP (including the establishment
and maintenance of appropriate reserves).

6.4    Compliance with Law.

           
The Borrower will, and will cause each of its Subsidiaries to, comply with
all laws, rules, regulations and orders, and all applicable restrictions
imposed by all Governmental Authorities, applicable to it and its property
if noncompliance with any such law, rule, regulation, order or restriction
would have a Material Adverse Effect.

6.5    Payment of Taxes and Other Indebtedness.

           
Except as otherwise provided pursuant to the terms of the definition of
"Permitted Liens" set forth in Section 1.1, the Borrower will, and will
cause each of its Subsidiaries to, pay and discharge (a) all taxes, assessments
and governmental charges or levies imposed upon it, or upon its income
or profits, or upon any of its properties, before they shall become delinquent,
(b) all lawful claims (including claims for labor, materials and supplies)
which, if unpaid, might give rise to a Lien upon any of its properties,
and (c) except as prohibited hereunder, all of its other Indebtedness as
it shall become due.

6.6    Insurance.

           
The Borrower will, and will cause each of its Subsidiaries to, at all times
maintain in full force and effect insurance (including worker's compensation
insurance, liability insurance and casualty insurance) in such amounts,
covering such risks and liabilities and with such deductibles or self-insurance
retentions as are in accordance with normal industry practice.

6.7    Maintenance of Property.

           
The Borrower will, and will cause each of its Subsidiaries to, maintain
and preserve its properties and equipment material to the conduct of its
business in good repair, working order and condition, normal wear and tear
and casualty and condemnation excepted, and will make, or cause to be made,
in such properties and equipment from time to time all repairs, renewals,
replacements, extensions, additions, betterments and improvements thereto
as may be needed or proper, to the extent and in the manner customary for
companies in similar businesses.

6.8    Use of Proceeds.

           
The Borrower will use the proceeds of the Loans solely for the purposes
set forth in Section 5.13.

6.9    Audits/Inspections.

           
Upon reasonable notice and during normal business hours, the Borrower will,
and will cause each of its Subsidiaries to, permit representatives appointed
by the Administrative Agent, including, without limitation, independent
accountants, agents, attorneys, and appraisers to visit and inspect its
property, including its books and records, its accounts receivable and
inventory, its facilities and its other business assets, and to make photocopies
or photographs thereof and to write down and record any information such
representative obtains and shall permit the Administrative Agent or its
representatives to investigate and verify the accuracy of information provided
to the Lenders and to discuss all such matters with the officers, employees
and representatives of such Person.

6.10    Adjusted Debt to EBITDAR Ratio.

       
The Borrower shall cause the ratio of Consolidated Adjusted Debt to Consolidated
EBITDAR as of the last day of each fiscal quarter to be no greater than
the amount set forth below with respect to the applicable fiscal quarters
set forth below:

 
	
Fiscal Quarters Ending In (or Closest To)
	
Ratio

	
 

	 
	
February
2002 and May 2002

	
3.50 to 1.00

	
August
2002 and thereafter

	
3.00 to 1.00

6.11    Interest Coverage Ratio.

           
The Borrower shall cause the Consolidated Interest Coverage Ratio as of
the last day of each fiscal quarter to be no less than 2.50 to 1.0.

SECTION 7

NEGATIVE COVENANTS

       
The Borrower hereby covenants and agrees that, so long as this Credit Agreement
is in effect or any amounts payable hereunder or under any other Credit
Document shall remain outstanding, and until all of the Commitments hereunder
shall have terminated:

7.1    Liens.

           
The Borrower will not, nor will it permit any of its Subsidiaries to, contract,
create, incur, assume or permit to exist any Lien with respect to any of
their Property, whether now owned or after acquired, except for Permitted
Liens.

7.2    Nature of Business.

           
The Borrower will not, nor will it permit any of its Subsidiaries to, substantively
alter the character or conduct of the business conducted by any such Person
as of the Closing Date.

7.3    Consolidation, Merger, Sale or Purchase
of Assets, etc.

       
The Borrower will not, nor will it permit any of its Subsidiaries to:

           
(a)  except in connection with a disposition of assets permitted by
the terms of subsection (c) below, dissolve, liquidate or wind up their
affairs;

 

           (b) 
enter into any transaction of merger or consolidation; provided,
however,
that, so long as no Default or Event of Default would be directly or indirectly
caused as a result thereof, (i) the Borrower may merge or consolidate with
any of its Subsidiaries provided that the Borrower is the surviving corporation;
(ii) any Subsidiary of the Borrower may merge or consolidate with any other
Subsidiary of the Borrower; and (iii) the Borrower or any of its Subsidiaries
may merge or consolidate with any Person (other than the Borrower or any
of its Subsidiaries) provided that (A) the Borrower or a Subsidiary of
the Borrower is the surviving corporation and (B) after giving effect on
a pro forma basis to such merger or consolidation, no Default or Event
of Default would exist hereunder;

 

           (c) 
sell, lease, transfer or otherwise dispose of Property owned by and material
to the Borrower and its Subsidiaries, taken as a whole (other than any
such sale, lease, transfer or other disposition by a Subsidiary of the
Borrower to the Borrower or any other Subsidiary of the Borrower),
provided,
however,
for the purposes of this subsection (c), sale-leaseback transactions entered
into by the Borrower or its Subsidiaries shall not be deemed material to
the Borrower and its Subsidiaries, taken as a whole to the extent the aggregate
amount with respect to all such transactions entered into after the Closing
Date does not exceed $500,000,000; or

 

           (d) 
except as otherwise permitted by Section 7.3(a) or Section 7.3(b), acquire
all or any portion of the capital stock or securities of any other Person
or purchase, lease or otherwise acquire (in a single transaction or a series
of related transactions) all or any substantial part of the Property of
any other Person; provided that (i) the Borrower or any of its Subsidiaries
shall be permitted to make acquisitions of the type referred to in this
Section 7.3(d), so long as such acquisitions are non-hostile and (ii) after
giving
effect on a pro forma basis to any such acquisition (including but not
limited to any Indebtedness to be incurred or assumed by the Borrower or
any of its Subsidiaries in connection therewith), no Default or Event of
Default would exist hereunder.

7.4    Fiscal Year.

           
The Borrower will not, nor will it permit any of its Subsidiaries to, change
its fiscal year without first obtaining the written consent of the Required
Lenders (such consent not to be unreasonably withheld).

7.5    Subsidiary Indebtedness.

       
The Borrower will not permit any of its Subsidiaries to contract, create,
incur, assume or permit to exist any Indebtedness, except:

           
(a)  Indebtedness set forth on Schedule 7.5 (and any renewals,
refinancings or extensions thereof on terms and conditions no more favorable,
in the aggregate, to such creditor than such existing Indebtedness and
in a principal amount not in excess of that outstanding as of the date
of such renewal, refinancing or extension);

           
(b)  intercompany Indebtedness owed by a Subsidiary of the Borrower
to the Borrower or to another wholly-owned Subsidiary of the Borrower;

           
(c)  Indebtedness of the Subsidiaries incurred after the Closing Date
to provide all or a portion of the purchase price of short-lived assets
(such as trucks and computer equipment) which may be treated as Capital
Leases in accordance with GAAP in an aggregate amount not to exceed $50,000,000
in any fiscal year;

           
(d)  Indebtedness of the Subsidiaries incurred in connection with
synthetic leases, tax retention operating leases, off-balance sheet loans
or similar off-balance sheet financings in an aggregate amount not to exceed
$250,000,000 in any two consecutive fiscal years; and

           
(e)  other Indebtedness in an aggregate principal amount not to exceed
$25,000,000 at any time outstanding.

SECTION 8

    EVENTS OF DEFAULT

8.1    Events of Default.

           
An Event of Default shall exist upon the occurrence of any of the following
specified events (each an "Event of Default"):

           
(a)    Payment.  The Borrower shall

           
(i)  default in the payment when due of any principal of any of the
Loans, or

           
(ii)  default, and such default shall continue for five (5) or more
Business Days, in the payment when due of any interest on the Loans, or
of any Fees or other amounts owing hereunder, under any of the other Credit
Documents or in connection herewith or therewith; or

           
(b)  Representations.  Any representation, warranty or
statement made or deemed to be made by the Borrower herein, in any of the
other Credit Documents, or in any statement or certificate delivered or
required to be delivered pursuant hereto or thereto shall prove untrue
in any material respect on the date as of which it was deemed to have been
made; or

           
(c)  Covenants.  The Borrower shall

           
(i)  default in the due performance or observance of any term, covenant
or agreement contained in Sections 6.2, 6.8, 6.10, 6.11 or 7.1 through
7.3, inclusive, and 7.5, or

           
(ii)  default in the due performance of any term, covenant or agreement
contained in Section 6.1 and such default shall continue unremedied for
a period of at least 5 days after the earlier of a responsible officer
of the Borrower becoming aware of such default or notice thereof by the
Administrative Agent.

 

           (iii) 
default in the due performance or observance by it of any term, covenant
or agreement (other than those referred to in subsections (a), (b), (c)(i)
or (c)(ii) of this Section 8.1) contained in this Credit Agreement and
such default shall continue unremedied for a period of at least 30 days
after the earlier of a responsible officer of the Borrower becoming aware
of such default or notice thereof by the Administrative Agent; or

           
(d)  Bankruptcy, etc.  Any Bankruptcy Event shall occur
with respect to the Borrower or any of its Subsidiaries; or

 

           
(e)  Other Indebtedness.  With respect to any Indebtedness
(other than Indebtedness outstanding under this Credit Agreement or owing
to the Borrower or any of its Subsidiaries) in excess of $25,000,000 in
the aggregate for the Borrower and its Subsidiaries taken as a whole, (i)
the Borrower or any of its Subsidiaries shall (A) default in any payment
(beyond the applicable grace period with respect thereto, if any) with
respect to any such Indebtedness, or (B) default in the observance or performance
relating to such Indebtedness or contained in any instrument or agreement
evidencing, securing or relating thereto, or any other event or condition
shall occur or condition exist, the effect of which default or other event
or condition is to cause, or permit, the holder or holders of such Indebtedness
(or trustee or agent on behalf of such holders) to cause, any such Indebtedness
to become due prior to the applicable maturity date, but after the expiration
of all applicable grace periods, and such Indebtedness shall not be repaid
when due; or (ii) any such Indebtedness shall be declared due and payable,
or required to be prepaid other than by a regularly scheduled required
prepayment, prior to the stated maturity thereof and shall not be repaid
when due; or

 

           (f) 
Judgments.  One or more judgments or decrees shall be entered
against the Borrower or any of its Subsidiaries involving a liability of
$25,000,000 or more in the aggregate (to the extent not paid or covered
by insurance) and any such judgments or decrees shall not have been vacated,
discharged or stayed or bonded pending appeal within 30 days from the entry
thereof or, if longer, within the applicable appeal period (but in no event
for more than 90 days from the entry thereof); or

 

           (g) 
ERISA.  Any of the following events or conditions, if such event
or condition reasonably could be expected to have a Material Adverse Effect:
(1) any "accumulated funding deficiency," as such term is defined in Section
302 of ERISA and Section 412 of the Code, whether or not waived, shall
exist with respect to any Plan, or any lien shall arise on the assets of
the Borrower, any Subsidiary of the Borrower or any ERISA Affiliate in
favor of the PBGC or a Plan; (2) an ERISA Event shall occur with respect
to a Single Employer Plan, which is, in the reasonable opinion of the Administrative
Agent, likely to result in the termination of such Plan for purposes of
Title IV of ERISA; (3) an ERISA Event shall occur with respect to a Multiemployer
Plan or Multiple Employer Plan, which is, in the reasonable opinion of
the Administrative Agent, likely to result in (i) the termination of such
Plan for purposes of Title IV of ERISA, or (ii) the Borrower, any Subsidiary
of the Borrower or any ERISA Affiliate incurring any liability in connection
with a withdrawal from, reorganization of (within the meaning of Section
4241 of ERISA), or insolvency or (within the meaning of Section 4245 of
ERISA) such Plan; or (4) any prohibited transaction (within the meaning
of Section 406 of ERISA or Section 4975 of the Code) or breach of fiduciary
responsibility shall occur which may subject the Borrower, any Subsidiary
of the Borrower or any ERISA Affiliate to any liability under Sections
406, 409, 502(i), or 502(l) of ERISA or Section 4975 of the Code, or under
any agreement or other instrument pursuant to which the Borrower, any Subsidiary
of the Borrower or any ERISA Affiliate has agreed or is required to indemnify
any person against any such liability.

           
(h)  Ownership.  There shall occur a Change of Control.

8.2    Acceleration; Remedies.

           
Upon the occurrence of an Event of Default, and at any time thereafter
unless and until such Event of Default has been waived by the Required
Lenders or cured to the satisfaction of the Required Lenders (pursuant
to the voting procedures in Section 10.6), the Administrative Agent shall,
upon the request and direction of the Required Lenders, by written notice
to the Borrower take any of the following actions:

           
(a)  Termination of Commitments.  Declare the Commitments
terminated whereupon the Commitments shall be immediately terminated.
            (b)
Acceleration. 
Declare the unpaid principal of and any accrued interest in respect of
all Loans and any and all other indebtedness or obligations of any and
every kind owing by the Borrower to the Administrative Agent and/or any
of the Lenders hereunder to be due whereupon the same shall be immediately
due and payable without presentment, demand, protest or other notice of
any kind, all of which are hereby waived by the Borrower.

            (c)
Enforcement
of Rights.  Enforce any and all rights and interests created and
existing under the Credit Documents and all rights of set-off.

            Notwithstanding
the foregoing, if an Event of Default specified in Section 8.1(d) shall
occur, then the Commitments shall automatically terminate and all Loans,
all accrued interest in respect thereof, all accrued and unpaid Fees and
other indebtedness or obligations owing to the Administrative Agent and/or
any of the Lenders hereunder automatically shall immediately become due
and payable without the giving of any notice or other action by the Administrative
Agent or the Lenders.

SECTION 9

AGENCY PROVISIONS

9.1    Appointment.

           
Each Lender hereby designates and appoints Fleet National Bank as Administrative
Agent (in such capacity as Administrative Agent hereunder, the "Administrative
Agent") of such Lender to act as specified herein and the other Credit
Documents, and each such Lender hereby authorizes the Administrative Agent
as the agent for such Lender, to take such action on its behalf under the
provisions of this Credit Agreement and the other Credit Documents and
to exercise such powers and perform such duties as are expressly delegated
by the terms hereof and of the other Credit Documents, together with such
other powers as are reasonably incidental thereto.  Notwithstanding
any provision to the contrary elsewhere herein and in the other Credit
Documents, the Administrative Agent shall not have any duties or responsibilities,
except those expressly set forth herein and therein, or any fiduciary relationship
with any Lender, and no implied covenants, functions, responsibilities,
duties, obligations or liabilities shall be read into this Credit Agreement
or any of the other Credit Documents, or shall otherwise exist against
the Administrative Agent.  The provisions of this Section are solely
for the benefit of the Administrative Agent and the Lenders and the Borrower
shall have no rights as a third party beneficiary of the provisions hereof. 
In performing its functions and duties under this Credit Agreement and
the other Credit Documents, the Administrative Agent shall act solely as
agent of the Lenders and does not assume and shall not be deemed to have
assumed any obligation or relationship of agency or trust with or for the
Borrower or any of its Affiliates.

9.2    Delegation of Duties.

           
The Administrative Agent may execute any of its respective duties hereunder
or under the other Credit Documents by or through agents or attorneys-in-fact
and shall be entitled to advice of counsel concerning all matters pertaining
to such duties; provided that the use of any agents or attorneys-in-fact
shall not relieve the Administrative Agent of its duties hereunder.

9.3    Exculpatory Provisions.

           
The Administrative Agent and its officers, directors, employees, agents,
attorneys-in-fact or affiliates shall not be (a) liable for any action
lawfully taken or omitted to be taken by it or such Person under or in
connection herewith or in connection with any of the other Credit Documents
(except for its or such Person's own gross negligence or willful misconduct),
or (b) responsible in any manner to any of the Lenders for any recitals,
statements, representations or warranties made by the Borrower contained
herein or in any of the other 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 Administrative Agent under or
in connection herewith or in connection with the other Credit Documents,
or enforceability or sufficiency therefor of any of the other Credit Documents,
or for any failure of the Borrower to perform its obligations hereunder
or thereunder.  The Administrative Agent shall not be responsible
to any Lender for the effectiveness, genuineness, validity, enforceability,
collectibility or sufficiency of this Credit Agreement, or any of the other
Credit Documents or for any representations, warranties, recitals or statements
made herein or therein or made by the Borrower in any written or oral statement
or in any financial or other statements, instruments, reports, certificates
or any other documents in connection herewith or therewith furnished or
made by the Administrative Agent to the Lenders or by or on behalf of the
Borrower to the Administrative Agent or any Lender or be required to ascertain
or inquire as to the performance or observance of any of the terms, conditions,
provisions, covenants or agreements contained herein or therein or as to
the use of the proceeds of the Loans or of the existence or possible existence
of any Default or Event of Default or to inspect the properties, books
or records of the Borrower or any of its Affiliates.

9.4    Reliance on Communications.

         
The Administrative Agent shall be entitled to rely, and shall be fully
protected in relying, upon any note, writing, resolution, notice, consent,
certificate, affidavit, letter, cablegram, telegram, telecopy, telex or
teletype message, statement, order or other document or conversation reasonably
believed by it to be genuine and correct and to have been signed, sent
or made by the proper Person or Persons and upon advice and statements
of legal counsel (including, without limitation, counsel to the Borrower,
independent accountants and other experts selected by the Administrative
Agent with reasonable care).  The Administrative Agent may deem and
treat the Lenders as the owner of their respective interests hereunder
for all purposes unless a written notice of assignment, negotiation or
transfer thereof shall have been filed with the Administrative Agent in
accordance with Section 10.3(b) hereof.  The Administrative Agent
shall be fully justified in failing or refusing to take any action under
this Credit Agreement or under any of the other Credit Documents unless
it shall first receive such advice or concurrence of the 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 Administrative 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 a request of the Required Lenders (or to the
extent specifically provided in Section 10.6, all the Lenders) and such
request and any action taken or failure to act pursuant thereto shall be
binding upon all the Lenders (including their successors and assigns).

9.5    Notice of Default.

           
The Administrative Agent shall not be deemed to have knowledge or notice
of the occurrence of any Default or Event of Default hereunder unless the
Administrative Agent has received notice from a Lender or the Borrower
referring to the Credit Document, describing such Default or Event of Default
and stating that such notice is a "notice of default." In the event that
the Administrative Agent receives such a notice, the Administrative Agent
shall give prompt notice thereof to the Lenders.   The Administrative
Agent shall take such action with respect to such Default or Event of Default
as shall be reasonably directed by the Required Lenders.

9.6    Non-Reliance on Administrative Agent
and Other Lenders.

           
Each Lender expressly acknowledges that each of the Administrative Agent
and its officers, directors, employees, agents, attorneys-in-fact or affiliates
has not made any representations or warranties to it and that no act by
the Administrative Agent or any affiliate thereof hereinafter taken, including
any review of the affairs of the Borrower or any of its Affiliates, shall
be deemed to constitute any representation or warranty by the Administrative
Agent to any Lender.  Each Lender represents to the Administrative
Agent that it has, independently and without reliance upon the Administrative
Agent or any other Lender, and based on such documents and information
as it has deemed appropriate, made its own appraisal of and investigation
into the business, assets, operations, property, financial and other conditions,
prospects and creditworthiness of the Borrower or its Affiliates and made
its own decision to make its Loans hereunder and enter into this Credit
Agreement.  Each Lender also represents that it will, independently
and without reliance upon the Administrative 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 analysis, appraisals and decisions
in taking or not taking action under this Credit Agreement, and to make
such investigation as it deems necessary to inform itself as to the business,
assets, operations, property, financial and other conditions, prospects
and creditworthiness of the Borrower and its Affiliates.  Except for
notices, reports and other documents expressly required to be furnished
to the Lenders by the Administrative Agent hereunder, the Administrative
Agent shall not have any duty or responsibility to provide any Lender with
any credit or other information concerning the business, operations, assets,
property, financial or other conditions, prospects or creditworthiness
of the Borrower or any of its Affiliates which may come into the possession
of the Administrative Agent or any of its officers, directors, employees,
agents, attorneys-in-fact or affiliates.

9.7    Indemnification.

           
The Lenders agree to indemnify the Administrative Agent in its capacity
as such (to the extent not reimbursed by the Borrower and without limiting
the obligation of the Borrower to do so), ratably according to their respective
Commitments (or if the Commitments have expired or been terminated, in
accordance with the respective principal amounts of outstanding Loans and
Participation Interests of the Lenders), from and against any and all liabilities,
obligations, losses, damages, penalties, actions, judgments, suits, costs,
expenses or disbursements of any kind whatsoever which may at any time
(including without limitation at any time following the final payment of
all of the obligations of the Borrower hereunder and under the other Credit
Documents) be imposed on, incurred by or asserted against the Administrative
Agent in its capacity as such in any way relating to or arising out of
this Credit Agreement or the other Credit Documents or any documents contemplated
by or referred to herein or therein or the transactions contemplated hereby
or thereby or any action taken or omitted by the Administrative Agent under
or in connection with any of the foregoing; provided that no Lender
shall be liable for the payment of any portion of such liabilities, obligations,
losses, damages, penalties, actions, judgments, suits, costs, expenses
or disbursements resulting from the gross negligence or willful misconduct
of the Administrative Agent.  If any indemnity furnished to the Administrative
Agent for any purpose shall, in the opinion of the Administrative Agent,
be insufficient or become impaired, the Administrative Agent may call for
additional indemnity and cease, or not commence, to do the acts indemnified
against until such additional indemnity is furnished.  The agreements
in this Section shall survive the repayment of the Loans and other obligations
under the Credit Documents and the termination of the Commitments hereunder.

9.8    Administrative Agent in its Individual
Capacity.

            The
Administrative Agent and its affiliates may make loans to, accept deposits
from and generally engage in any kind of business with the Borrower, its
Subsidiaries or their respective Affiliates as though the Administrative
Agent were not the Administrative Agent hereunder.  With respect to
the Loans made by and all obligations of the Borrower hereunder and under
the other Credit Documents, the Administrative Agent shall have the same
rights and powers under this Credit Agreement as any Lender and may exercise
the same as though it were not the Administrative Agent, and the terms
"Lender" and "Lenders" shall include the Administrative Agent in its individual
capacity.

9.9    Successor Administrative Agent.

           
The Administrative Agent may, at any time, resign upon 20 days' written
notice to the Lenders, and may be removed, upon show of cause, by the Required
Lenders upon 30 days' written notice to the Administrative Agent. 
Upon any such resignation or removal, the Required Lenders shall have the
right to appoint a successor Administrative Agent; provided that,
so long as no Default or Event of Default has occurred and is continuing,
such successor Administrative Agent shall be reasonably acceptable to the
Borrower.  If no successor Administrative Agent shall have been so
appointed by the Required Lenders, and shall have accepted such appointment,
within 30 days after the notice of resignation or notice of removal, as
appropriate, then the retiring Administrative Agent shall select a successor
Administrative Agent provided such successor is a Lender hereunder or a
commercial bank organized under the laws of the United States of America
or of any State thereof and has a combined capital and surplus of at least
$400,000,000.  Upon the acceptance of any appointment as Administrative
Agent hereunder by a successor, such successor Administrative Agent shall
thereupon succeed to and become vested with all the rights, powers, privileges
and duties of the retiring Administrative Agent, and the retiring Administrative
Agent shall be discharged from its duties and obligations as Administrative
Agent, as appropriate, under this Credit Agreement and the other Credit
Documents and the provisions of this Section 9 shall inure to its benefit
as to any actions taken or omitted to be taken by it while it was Administrative
Agent under this Credit Agreement.

9.10    Syndication Agent.

           
The Syndication Agent, in its capacity as such, shall have no rights, powers,
duties or obligations under this Credit Agreement or any of the other Credit
Documents.

SECTION 10

MISCELLANEOUS

10.1    Notices.

           
Except as otherwise expressly provided herein, all notices and other communications
shall have been duly given and shall be effective (i) when delivered, (ii)
when transmitted and received (by confirmation of receipt) via telecopy
(or other facsimile device) to the number set out below, (iii) the day
following the day on which the same has been delivered prepaid to a reputable
national overnight air courier service, or (iv) the third Business Day
following the day on which the same is sent by certified or registered
mail, postage prepaid, in each case to the respective parties at the address,
in the case of the Borrower and the Administrative Agent, set forth below,
and, in the case of the Lenders, set forth on Schedule 2.1(a), or
at such other address as such party may specify by written notice to the
other parties hereto:

if
to the Borrower:

AutoZone,
Inc.

123
South Front Street

Memphis,
TN  38103

Attn: 
Chief Financial Officer

Telephone: 
(901) 495-7897

Telecopy: 
(901) 495-8317

with
a copy to the Treasurer and to the General Counsel for the Borrower at
the same address;

if
to the Administrative Agent:

Fleet
National Bank

Agency
Services

MADE10307C

100
Federal Street, 8th Floor

Boston,
MA  02110

Attn:
Mary Joyce

with
a copy to:

Fleet
National Bank

Retail
& Apparel Division

MADE10009A

100
Federal Street

Boston,
MA  02110

Attn:
Thomas J. Bullard, Director

Telephone: 
(617) 434-3824

Telecopy: 
(617) 434-6685

10.2    Right of Set-Off.

          
In addition to any rights now or hereafter granted under applicable law,
and not by way of limitation of any such rights, upon the occurrence of
an Event of Default, each Lender is authorized at any time and from time
to time, without presentment, demand, protest or other notice of any kind
(all of which rights being hereby expressly waived), to set-off and to
appropriate and apply any and all deposits (general or special) and any
other indebtedness at any time held or owing by such Lender (including,
without limitation, branches, agencies or Affiliates of such Lender wherever
located) to or for the credit or the account of the Borrower against obligations
and liabilities of such Person to such Lender hereunder, under the Notes
or the other Credit Documents, irrespective of whether such Lender shall
have made any demand hereunder and although such obligations, liabilities
or claims, or any of them, may be contingent or unmatured, and any such
set-off shall be deemed to have been made immediately upon the occurrence
of an Event of Default even though such charge is made or entered on the
books of such Lender subsequent thereto.  Any Person purchasing a
participation in the Loans and Commitments hereunder pursuant to Section
3.13 or Section 10.3(d) may exercise all rights of set-off with respect
to its participation interest as fully as if such Person were a Lender
hereunder.

10.3    Benefit of Agreement.

           
(a)  Generally.  This Credit Agreement shall be binding
upon and inure to the benefit of and be enforceable by the respective successors
and assigns of the parties hereto; provided that the Borrower may
not assign or transfer any of its interests without prior written consent
of the Lenders; provided further that the rights of each Lender
to transfer, assign or grant participations in its rights and/or obligations
hereunder shall be limited as set forth in this Section 10.3, provided
however that nothing herein shall prevent or prohibit any Lender from (i)
pledging its Loans hereunder to a Federal Reserve Bank in support of borrowings
made by such Lender from such Federal Reserve Bank, or (ii) granting assignments
or selling participations in such Lender's Loans and/or Commitments hereunder
to its parent company and/or to any Affiliate or Subsidiary of such Lender.

           
(b)  Assignments.  Each Lender may assign all or a portion
of its rights and obligations hereunder, pursuant to an assignment agreement
substantially in the form of Schedule 10.3(b), to (i) any Lender
or any Affiliate or Subsidiary of a Lender, or (ii) any other commercial
bank, financial institution or "accredited investor" (as defined in Regulation
D of the Securities and Exchange Commission) that is reasonably acceptable
to the Administrative Agent and, so long as no Default or Event of Default
has occurred and is continuing, is reasonably acceptable to the Borrower;
provided
that (i) any such assignment (other than any assignment to an existing
Lender) shall be in a minimum aggregate amount of $5,000,000 (or, if less,
the remaining amount of the Commitment being assigned by such Lender) of
the Commitments and in integral multiples of $1,000,000 above such amount
and (ii) so long as no Event of Default has occurred and is continuing,
no Lender shall assign more than 50% of such Lender's original aggregate
Commitments without the written consent of the Borrower.  Any assignment
hereunder shall be effective upon delivery to the Administrative Agent
of written notice of the assignment together with a transfer fee of $3,500
payable to the Administrative Agent for its own account from and after
the later of (i) the effective date specified in the applicable assignment
agreement and (ii) the date of recording of such assignment in the Register
pursuant to the terms of subsection (c) below.  The assigning Lender
will give prompt notice to the Administrative Agent and the Borrower of
any such assignment.  Upon the effectiveness of any such assignment
(and after notice to, and (to the extent required pursuant to the terms
hereof), with the consent of, the Borrower as provided herein), the assignee
shall become a "Lender" for all purposes of this Credit Agreement and the
other Credit Documents and, to the extent of such assignment, the assigning
Lender shall be relieved of its obligations hereunder to the extent of
the Loans and Commitment components being assigned.  Along such lines
the Borrower agrees that upon notice of any such assignment and surrender
of the appropriate Note or Notes, it will promptly provide to the assigning
Lender and to the assignee separate promissory notes in the amount of their
respective interests substantially in the form of the original Note (but
with notation thereon that it is given in substitution for and replacement
of the original Note or any replacement notes thereof).  By executing
and delivering an assignment agreement in accordance with this Section
10.3(b), the assigning Lender thereunder and the assignee thereunder shall
be deemed to confirm to and agree with each other and the other parties
hereto as follows: (i) such assigning Lender warrants that it is the legal
and beneficial owner of the interest being assigned thereby free and clear
of any adverse claim; (ii) except as set forth in clause (i) above, 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 Credit Agreement, any of the other Credit Documents
or any other instrument or document furnished pursuant hereto or thereto,
or the execution, legality, validity, enforceability, genuineness, sufficiency
or value of this Credit Agreement, any of the other Credit Documents or
any other instrument or document furnished pursuant hereto or thereto or
the financial condition of the Borrower or any of its respective Affiliates
or the performance or observance by the Borrower of any of its obligations
under this Credit Agreement, any of the other Credit Documents or any other
instrument or document furnished pursuant hereto or thereto; (iii) such
assignee represents and warrants that it is legally authorized to enter
into such assignment agreement; (iv) such assignee confirms that it has
received a copy of this Credit Agreement, the other Credit Documents and
such other documents and information as it has deemed appropriate to make
its own credit analysis and decision to enter into such assignment agreement;
(v) such assignee will independently and without reliance upon the Administrative
Agent, such assigning Lender or any other Lender, and based on such documents
and information as it shall deem appropriate at the time, continue to make
its own credit decisions in taking or not taking action under this Credit
Agreement and the other Credit Documents; (vi) such assignee appoints and
authorizes the Administrative Agent to take such action on its behalf and
to exercise such powers under this Credit Agreement or any other Credit
Document as are delegated to the Administrative Agent by the terms hereof
or thereof, together with such powers as are reasonably incidental thereto;
and (vii) such assignee agrees that it will perform in accordance with
their terms all the obligations which by the terms of this Credit Agreement
and the other Credit Documents are required to be performed by it as a
Lender.  If the assignee is not a United States person under Section
7701(a)(30) of the Code, it shall deliver to the Borrower and the Administrative
Agent a valid certification as to exemption from deduction or withholding
of taxes in accordance with Section 3.10.

           
(c)  Maintenance of Register.  The Administrative Agent
shall maintain at one of its offices in Boston, Massachusetts (i) a copy
of each Lender assignment agreement delivered to it in accordance with
the terms of subsection (b) above and (ii) a register for the recordation
of the identity of the principal amount, type and Interest Period of each
Loan outstanding hereunder, the names, addresses and the Commitments of
the Lenders pursuant to the terms hereof from time to time (the "Register"). 
The Administrative Agent will make reasonable efforts to maintain the accuracy
of the Register and to promptly update the Register from time to time,
as necessary.  The Register shall be prima facie, but not conclusive,
evidence of the information contained therein and the Borrower, the Administrative
Agent and the Lenders may treat each Person whose name is recorded in the
Register pursuant to the terms hereof as a Lender hereunder for all purposes
of this Credit Agreement.  The Register shall be available for inspection
by the Borrower and each Lender, at any reasonable time and from time to
time upon reasonable prior notice.

           
(d)  Participations.  Each Lender may sell, transfer,
grant or assign participations in all or any part of such Lender's interests
and obligations hereunder; provided that (i) such selling Lender
shall remain a "Lender" for all purposes under this Credit Agreement (such
selling Lender's obligations under the Credit Documents remaining unchanged)
and the participant shall not constitute a Lender hereunder, (ii) no such
participant shall have, or be granted, rights to approve any amendment
or waiver relating to this Credit Agreement or the other Credit Documents
except to the extent any such amendment or waiver would (A) reduce the
principal of or rate of interest on or Fees in respect of any Loans in
which the participant is participating or (B) postpone the date fixed for
any payment of principal (including extension of the Termination Date or
the date of any mandatory prepayment), interest or Fees in which the participant
is participating, and (iii) sub-participations by the participant (except
to an affiliate, parent company or affiliate of a parent company of the
participant) shall be prohibited.  In the case of any such participation,
the participant shall not have any rights under this Credit Agreement or
the other Credit Documents (the participant's rights against the selling
Lender in respect of such participation to be those set forth in the participation
agreement with such Lender creating such participation) and all amounts
payable by the Borrower hereunder shall be determined as if such Lender
had not sold such participation, provided,
however, that
such participant shall be entitled to receive additional amounts under
Sections 3.6, 3.9 and 3.11 on the same basis as if it were a Lender provided
that it shall not be entitled to receive any more than the selling Lender
would have received had it not sold the participation.

           
(e)  Designation.

           
(i)  Notwithstanding anything to the contrary contained herein, any
Lender (a "Designating Lender") may grant to one or more special
purpose funding vehicles (each, an "SPV"), identified as such in
writing from time to time by the Designating Lender to the Administrative
Agent and the Borrower, the option to provide to the Borrower all or any
part of any Loan that such Designating Lender would otherwise be obligated
to make to the Borrower pursuant to this Credit Agreement; provided that
(I) nothing herein shall constitute a commitment by any SPV to make any
Loan, (II) if an SPV elects not to exercise such option or otherwise fails
to provide all or any part of such Loan, the Designating Lender shall be
obligated to make such Loan pursuant to the terms hereof, (III) the Designating
Lender shall remain liable for any indemnity or other payment obligation
with respect to its Commitment hereunder and (IV) each such SPV would satisfy
the requirements of Section 3.10 if such SPV was a Lender hereunder. 
The making of a Loan by an SPV hereunder shall utilize the Commitment of
the Designating Lender to the same extent, and as if, such Loan were made
by such Designating Lender.

 

           (ii) 
As to any Loans or portion thereof made by it, each SPV shall have all
the rights that a Lender making such Loans or portion thereof would have
had under this Credit Agreement; provided, however that each SPV shall
have granted to its Designating Lender an irrevocable power of attorney,
to deliver and receive all communications and notices under this Credit
Agreement (and any related documents) and to exercise on such SPV's behalf,
all of such SPV's voting rights under this Credit Agreement.  No additional
Note shall be required to evidence the Loans or portion thereof made by
an SPV; and the related Designating Lender shall be deemed to hold its
Note as agent for such SPV to the extent of the Loans or portion thereof
funded by such SPV.  In addition, any payments for the account of
any SPV shall be paid to its Designating Lender as agent for such SPV.

 

           (iii) 
Each party hereto hereby agrees that no SPV shall be liable for any indemnity
or payment under this Credit Agreement for which a Lender would otherwise
be liable for so long as, and to the extent, the Designating Lender provides
such indemnity or makes such payment.  In furtherance of the foregoing,
each party hereto hereby agrees (which agreement shall survive the termination
of this Credit Agreement) that, prior to the date that is one year and
one day after the payment in full of all outstanding prior indebtedness
of any SPV, it will not institute against, or join any other person in
instituting against, such SPV any bankruptcy, reorganization, arrangement,
insolvency or liquidation proceedings or similar proceedings under the
laws of the United States or any State thereof.

 

          (iv)  In
addition, notwithstanding anything to the contrary contained in this Section
10.3 or otherwise in this Credit Agreement, any SPV may (I) at any time
and without paying any processing fee therefor, assign or participate all
or a portion of its interest in any Loans to the Designating Lender (or
to any other SPV of such Designating Lender) or to any financial institutions
providing liquidity and/or credit support to or for the account of such
SPV to support the funding or maintenance of Loans and (II) disclose on
a confidential basis any non-public information relating to its Loans to
any rating agency, commercial paper dealer or provider of any surety, guarantee
or credit or liquidity enhancements to such SPV.  This Section 10.3
may not be amended without the written consent of any Designating Lender
affected thereby.

10.4    No Waiver; Remedies Cumulative.

           
No failure or delay on the part of the Administrative Agent or any Lender
in exercising any right, power or privilege hereunder or under any other
Credit Document and no course of dealing between the Administrative Agent
or any Lender and the Borrower shall operate as a waiver thereof; nor shall
any single or partial exercise of any right, power or privilege hereunder
or under any other Credit Document preclude any other or further exercise
thereof or the exercise of any other right, power or privilege hereunder
or thereunder.  The rights and remedies provided herein are cumulative
and not exclusive of any rights or remedies which the Administrative Agent
or any Lender would otherwise have.  No notice to or demand on the
Borrower in any case shall entitle the Borrower to any other or further
notice or demand in similar or other circumstances or constitute a waiver
of the rights of the Administrative Agent or the Lenders to any other or
further action in any circumstances without notice or demand.

10.5    Payment of Expenses, etc.

           
The Borrower agrees to:  (a) pay all reasonable out-of-pocket costs
and expenses (i) of the Administrative Agent in connection with the negotiation,
preparation, execution and delivery and administration of this Credit Agreement
and the other Credit Documents and the documents and instruments referred
to therein (including, subject to agreed upon limitations, the reasonable
fees and expenses of Moore & Van Allen, PLLC, special counsel to the
Administrative Agent and non-duplicative allocated costs of internal counsel)
and any amendment, waiver or consent relating hereto and thereto including,
but not limited to, any such amendments, waivers or consents resulting
from or related to any work-out, renegotiation or restructure relating
to the performance by the Borrower under this Credit Agreement and (ii)
of the Administrative Agent and the Lenders in connection with enforcement
of the Credit Documents and the documents and instruments referred to therein
(including, without limitation, in connection with any such enforcement,
the reasonable fees and disbursements of counsel (including non-duplicative
allocated costs of internal counsel) for the Administrative Agent and each
of the Lenders); (b) pay and hold each of the Lenders harmless from and
against any and all future stamp and other similar taxes with respect to
the foregoing matters and save each of the Lenders harmless from and against
any and all liabilities with respect to or resulting from any delay or
omission (other than to the extent attributable to such Lender) to pay
such taxes; and (c) indemnify each Lender, its officers, directors, employees,
representatives, agents and Affiliates from and hold each of them harmless
against any and all losses, liabilities, claims, damages or expenses incurred
by any of them as a result of, or arising out of, or in any way related
to, or by reason of (i) any investigation, litigation or other proceeding
(whether or not any Lender is a party thereto, but excluding any investigation
initiated by the Person seeking indemnification hereunder) related to the
entering into and/or performance of any Credit Document or the use of proceeds
of any Loans (including other extensions of credit) hereunder or the consummation
of any other transactions contemplated in any Credit Document, including,
without limitation, the reasonable fees and disbursements of counsel (including
non-duplicative allocated costs of internal counsel) incurred in connection
with any such investigation, litigation or other proceeding or (ii) the
presence or Release of any Materials of Environmental Concern at, under
or from any Property owned, operated or leased by the Borrower or any of
its Subsidiaries, or the failure by the Borrower or any of its Subsidiaries
to comply with any Environmental Law (but excluding, in the case of either
of clause (i) or (ii) above, any such losses, liabilities, claims, damages
or expenses to the extent (A) incurred by reason of gross negligence or
willful misconduct on the part of the Person to be indemnified, (B) owing
to the Borrower or (C) owing to another Person entitled to indemnification
hereunder).

10.6    Amendments, Waivers and Consents.

           
Neither this Credit Agreement nor any other Credit Document nor any of
the terms hereof or thereof may be amended, changed, waived, discharged
or terminated unless such amendment, change, waiver, discharge or termination
is in writing entered into by, or approved in writing by, the Required
Lenders and the Borrower, provided,
however, that:

          
(a)  no such amendment, change, waiver, discharge or termination shall,
without the consent of each Lender directly affected thereby, (i) reduce
the rate or extend the time of payment of interest (other than as a result
of (x) waiving the applicability of any post-default increase in interest
rates or (y) an amendment approved by the Required Lenders as set forth
in the definition of "Applicable Percentage" following the withdrawal by
S&P and Moody's of their ratings on the Borrower's senior unsecured
(non-credit enhanced) long term debt) on any Loan or fees hereunder, (ii)
reduce the rate or extend the time of payment of any fees owing hereunder,
(iii) extend (A) the Commitments of the Lenders, or (B) the final maturity
of any Loan, or any portion thereof, or (iv) reduce the principal amount
on any Loan;

 

           (b) 
no such amendment, change, waiver, discharge or termination shall, without
the consent of each Lender directly affected thereby, (i) except as otherwise
permitted under Section 2.4(f) or Section 3.4(c), increase the Commitments
of the Lenders over the amount thereof in effect (it being understood and
agreed that a waiver of any Default or Event of Default shall not constitute
a change in the terms of any Commitment of any Lender), (ii) amend, modify
or waive any provision of this Section 10.6 or Section 3.6, 3.10, 3.11,
3.12, 3.13, 8.1(a), 10.2, 10.3, 10.5 or 10.9, (iii) reduce or increase
any percentage specified in, or otherwise modify, the definition of "Required
Lenders," or (iv) consent to the assignment or transfer by the Borrower
of any of its rights and obligations under (or in respect of) the Credit
Documents to which it is a party;

 

           (c) 
no provision of Section 2.3 may be amended without the consent of the Swingline
Lender and no provision of Section 9 may be amended without the consent
of the Administrative Agent; and

 

          (d)  designation
of the Master Account or of any Financial Officer may not be made without
the written consent of at least two Financial Officers of the Borrower.

10.7    Counterparts.

           
This Credit Agreement may be executed in any number of counterparts, each
of which when so executed and delivered shall be an original, but all of
which shall constitute one and the same instrument.  It shall not
be necessary in making proof of this Credit Agreement to produce or account
for more than one such counterpart.

10.8    Headings.

           
The headings of the sections and subsections hereof are provided for convenience
only and shall not in any way affect the meaning or construction of any
provision of this Credit Agreement.

10.9    Survival.

           
All indemnities set forth herein, including, without limitation, in Section
3.9, 3.11, 9.7 or 10.5 shall survive the execution and delivery of this
Credit Agreement, the making of the Loans, the repayment of the Loans and
other obligations under the Credit Documents and the termination of the
Commitments hereunder, and all representations and warranties made by the
Borrower herein shall survive delivery of the Notes and the making of the
Loans hereunder.

10.10    Governing Law; Submission to Jurisdiction;
Venue.

           
(a)  THIS CREDIT AGREEMENT AND THE OTHER CREDIT DOCUMENTS AND THE
RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER AND THEREUNDER SHALL BE
GOVERNED BY AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH THE LAWS OF
THE STATE OF NEW YORK.  Any legal action or proceeding with respect
to this Credit Agreement or any other Credit Document may be brought in
the courts of the State of New York in New York County, or of the United
States for the Southern District of New York, and, by execution and delivery
of this Credit Agreement, the Borrower hereby irrevocably accepts for itself
and in respect of its property, generally and unconditionally, the nonexclusive
jurisdiction of such courts.  The Borrower further irrevocably consents
to the service of process out of any of the aforementioned courts in any
such action or proceeding by the mailing of copies thereof by registered
or certified mail, postage prepaid, to it at the address set out for notices
pursuant to Section 10.1, such service to become effective three (3) days
after such mailing.  Nothing herein shall affect the right of the
Administrative Agent to serve process in any other manner permitted by
law or to commence legal proceedings or to otherwise proceed against the
Borrower in any other jurisdiction.

 

           (b) 
The Borrower hereby irrevocably waives any objection which it may now or
hereafter have to the laying of venue of any of the aforesaid actions or
proceedings arising out of or in connection with this Credit Agreement
or any other Credit Document brought in the courts referred to in subsection
(a) hereof and hereby further irrevocably waives and agrees not to plead
or claim in any such court that any such action or proceeding brought in
any such court has been brought in an inconvenient forum.

 

           (c) 
TO THE EXTENT PERMITTED BY LAW, EACH OF THE ADMINISTRATIVE AGENT, THE LENDERS
AND THE BORROWER HEREBY IRREVOCABLY WAIVES ALL RIGHT TO TRIAL BY JURY IN
ANY ACTION, PROCEEDING OR COUNTERCLAIM ARISING OUT OF OR RELATING TO THIS
CREDIT AGREEMENT, ANY OF THE OTHER CREDIT DOCUMENTS OR THE TRANSACTIONS
CONTEMPLATED HEREBY.

10.11
Severability.

           
If any provision of any of the Credit Documents is determined to be illegal,
invalid or unenforceable, such provision shall be fully severable and the
remaining provisions shall remain in full force and effect and shall be
construed without giving effect to the illegal, invalid or unenforceable
provisions.

10.12    Entirety.

       
This Credit Agreement together with the other Credit Documents represent
the entire agreement of the parties hereto and thereto, and supersede all
prior agreements and understandings, oral or written, if any, including
any commitment letters or correspondence relating to the Credit Documents
or the transactions contemplated herein and therein.

10.13    Binding Effect; Amendment and
Restatement of Existing Credit Agreement; Termination.

           
(a)  This Credit Agreement shall become effective at such time on
or after the Closing Date when it shall have been executed by the Borrower
and the Administrative Agent, and the Administrative Agent shall have received
copies hereof (telefaxed or otherwise) which, when taken together, bear
the signatures of each Lender, and thereafter this Credit Agreement shall
be binding upon and inure to the benefit of the Borrower, the Administrative
Agent and each Lender and their respective successors and assigns. 
The Borrower, the Administrative Agent and the Lenders hereby agree that
at such time as this Credit Agreement shall have become effective pursuant
to the terms of the first sentence of this Section 10.13(a), the Existing
Credit Agreement automatically shall be deemed amended and restated in
its entirety by this Credit Agreement

 

           (b) 
The term of this Credit Agreement shall be until no Loans or any other
amounts payable hereunder or under any of the other Credit Documents shall
remain outstanding and until all of the Commitments hereunder shall have
expired or been terminated.

10.14 
Confidentiality.

           
The Administrative Agent and the Lenders agree to keep confidential (and
to cause their respective affiliates, officers, directors, employees, agents
and representatives to keep confidential) all information, materials and
documents furnished to the Administrative Agent or any such Lender by or
on behalf of the Borrower (whether before or after the Closing Date) which
relates to the Borrower or any of its Subsidiaries (the "Information"). 
Notwithstanding the foregoing, the Administrative Agent and each Lender
shall be permitted to disclose Information (i) to its affiliates, officers,
directors, employees, agents and representatives in connection with its
participation in any of the transactions evidenced by this Credit Agreement
or any other Credit Documents or the administration of this Credit Agreement
or any other Credit Documents; (ii) to the extent required by applicable
laws and regulations or by any subpoena or similar legal process, or requested
by any Governmental Authority; (iii) to the extent such Information (A)
becomes publicly available other than as a result of a breach of this Credit
Agreement or any agreement entered into pursuant to clause (iv) below,
(B) becomes available to the Administrative Agent or such Lender on a non-confidential
basis from a source other than the Borrower or (C) was available to the
Administrative Agent or such Lender on a non-confidential basis prior to
its disclosure to the Administrative Agent or such Lender by the Borrower;
(iv) to any assignee or participant (or prospective assignee or participant)
so long as such assignee or participant (or prospective assignee or participant)
first specifically agrees in a writing furnished to and for the benefit
of the Borrower to be bound by the terms of this Section 10.14; (v) to
the extent required in connection with the exercise of remedies under this
Credit Agreement or any other Credit Documents; or (vi) to the extent that
the Borrower shall have consented in writing to such disclosure. 
Nothing set forth in this Section 10.14 shall obligate the Administrative
Agent or any Lender to return any materials furnished by the Borrower.

10.15    Source of Funds.

       
Each of the Lenders hereby represents and warrants to the Borrower that
at least one of the following statements is an accurate representation
as to the source of funds to be used by such Lender in connection with
the financing hereunder:

           
(a)  no part of such funds constitutes assets allocated to any separate
account maintained by such Lender in which any employee benefit plan (or
its related trust) has any interest;

 

           (b) 
to the extent that any part of such funds constitutes assets allocated
to any separate account maintained by such Lender, such Lender has disclosed
to the Borrower the name of each employee benefit plan whose assets in
such account exceed 10% of the total assets of such account as of the date
of such purchase (and, for purposes of this subsection (b), all employee
benefit plans maintained by the same employer or employee organization
are deemed to be a single plan);

 

           (c) 
to the extent that any part of such funds constitutes assets of an insurance
company's general account, such insurance company has complied with all
of the requirements of the regulations issued under Section 401(c)(1)(A)
of ERISA; or

 

           (d) 
such funds constitute assets of one or more specific benefit plans which
such Lender has identified in writing to the Borrower.

As
used in this Section 10.15, the terms "employee benefit plan" and "separate
account" shall have the respective meanings assigned to such terms in Section
3 of ERISA.

10.16    Conflict.

           
To the extent that there is a conflict or inconsistency between any provision
hereof, on the one hand, and any provision of any Credit Document, on the
other hand, this Credit Agreement shall control.

 

[Signature Pages to Follow]

        IN WITNESS WHEREOF, each
of the parties hereto has caused a counterpart of this Credit Agreement
to be duly executed and delivered as of the date first written above.

 

 
	BORROWER: 	AUTOZONE, INC.

a Nevada corporation
		
		By: /s/ Michael Archbold 

Name: Michael Archbold 

Title: SVP  CFO 
		
		By: /s/ Harry L. Goldsmith

Name: Harry L. Goldsmith

Title: Sr. Vice President, Secretary and 

        General Counsel 

[signature pages continue]

 
	LENDERS: 
 
	FLEET NATIONAL BANK

individually in its capacity as a 

Lender and in its capacity as Administrative

Agent
		
		By: /s/ Thomas J. Bullard 

Name: Thomas J. Bullard 

Title:  Director 

[signature pages continue]

 
		JPMORGAN CHASE BANK
		
		By: /s/ Barry Bergman 

Name: Barry Bergman 

Title:  VP 

[signature pages continue]

 
		BANK OF AMERICA, N.A.
		
		By: /s/ Dan M. Killian 

Name: Dan M. Killian 

Title:  Managing Director 

[signature pages continue]

 
		CITICORP USA, INC.
		
		By: /s/ Robert J. Kane 

Name: Robert J. Kane 

Title:  Vice President 

[signature pages continue]

 
		WACHOVIA BANK, NATIONAL 

ASSOCIATION
		
		By: /s/ Anthony D. Braxton 

Name: Anthony D. Braxton 

Title:  Director

[signature pages continue]

 
		SUNTRUST BANK
		
		By: /s/ Bryan W. Ford 

Name: Bryan W. Ford 

Title:  Director 

[signature pages continue]

 
		BANK ONE, N.A.
		
		By: /s/ Catherine A. Muszynski 

Name: Catherine A. Muszynski 

Title:  Director 

[signature pages continue]

 
		NATIONAL CITY BANK 
		
		By: /s/ James C. Ritchie 

Name: JamesC. Ritchie 

Title:  Vice President 

[signature pages continue]

 
		UNION BANK OF CALIFORNIA, N.A.
		
		By: /s/ Theresa L. Rocha 

Name: Theresa L. Rocha 

Title:  Vice President 

[signature pages continue]

 
		KEYBANK NATIONAL ASSOCIATION
		
		By: /s/ Mary K. Young 

Name: Mary K. Young 

Title:  Vice President 

[signature pages continue]

 
		U.S. BANK NATIONAL ASSOCIATION
		
		By: /s/ Amanda Smith 

Name: Amanda Smith 

Title:  Assistant Vice President 

[signature pages continue]

 
		UNION PLANTERS N.A.
		
		By: /s/ Craig E. Gardella 

Name: Craig E. Gardella 

Title:  Senior Vice President 

[signature pages continue]

 
		THE BANK OF NEW YORK
		
		By: /s/ David C. Judge 

Name: David C. Judge 

Title:  Senior Vice President 

[signature pages continue]

 
		FIFTH THIRD BANK
		
		By: /s/ Megan S. Heisel 

Name: Megan S. Heisel 

Title:  Assistant Vice President 

[signature pages continue]

 
		UMB BANK, N.A.
		
		By: /s/ Robert P. Elbert 

Name: Robert P. Elbert 

Title:  Vice President 

[signature pages continue]

 
		FIRST TENNESSEE BANK NATIONAL ASSOCIATION
		
		By: /s/ James H. Moore, Jr. 

Name: James H. Moore, Jr. 

Title:  Senior Vice President 

[signature pages continue]

 
		HIBERNIA NATIONAL BANK
		
		By: /s/ Donna J. Richardson 

Name: Donna J. Richardson 

Title:  Banking Officer 

[signature pages continue]

 
		BNP PARIBAS
		
		By: /s/ Jeff Tebeaux 

Name: Jeff Tebeaux 

Title:  Associate 
		
		By: /s/ John Stacey 

Name: John Stacey 

Title:  Managing Director 

[signature pages continue]

 
		THE NORTHERN TRUST COMPANY
		
		By: /s/ Roger McDougal 

Name: Roger McDougal 

Title:  Second Vice President 

[signature pages continue]

 
		CREDIT LYONNAIS NEW YORK BRANCH
		
		By: /s/ Attila Koc 

Name: Attila Koc 

Title:  Senior Vice President 

[signature pages continue]

 
		THE NORINCHUKIN BANK, NEW YORK BRANCH
		
		By: /s/ Fumiaki Ono 

Name: Fumiaki Ono 

Title:  General Manager 

[signature pages continue]

 
		REGIONS BANK
		
		By: /s/ Sam Prudhomme 

Name: Sam Prudhomme 

Title:  Assistant Vice President 

[signature pages continue]

 

Schedule 1.1

APPLICABLE PERCENTAGE

Pricing Grid for Revolving Loans

 	
Pricing

Level

	
S&P/Moody's

Rating

	
Applicable
Percentage

for

Eurodollar
Loans

	
Applicable 

Percentage
for 

Base
Rate Loans

	
Applicable
Percentage

for

Facility
Fee

	
Applicable 

Percentage
for

Utilization
Fee

	
Level
I

	
A-/A3
or above

	
40.0
bps

	
0

	
10.0
bps

	
12.5
bps

	
Level
II

	
BBB+/Baa1 

	
50.0
bps

	
0

	
12.5
bps

	
12.5
bps

	
Level
III

	
BBB/Baa2 

	
60.0
bps

	
0

	
15.0
bps

	
25.0
bps

	
Level
IV

	
BBB-/Baa3 

	
90.0
bps

	
0

	
22.5
bps

	
25.0
bps

	
Level
V

	
Below
BBB-/Baa3

	
120.0
bps

	
0

	
30.0
bps

	
25.0
bps

Pricing Grid for Term Loan

 	
Pricing

Level

	
S&P/Moody's

Rating

	
Applicable
Percentage

for

Eurodollar
Loans

	
Applicable 

Percentage
for 

Base
Rate Loans

	
Level
I

	
BBB/Baa2
or higher

	
112.5
bps

	
12.5
bps

	
Level
II

	
BBB-/Baa3 

	
150.0
bps

	
50.0
bps

	
Level
III

	
Below
BBB-/Baa3

	
175.0
bps

	
75.0
bps

The
Applicable Percentage shall be based on the applicable Pricing Level corresponding
to the Rating(s) then in effect.  In the event of a Split Rating,
the applicable Pricing Level shall be based on the higher Rating. In the
event of a Double Split Rating, the applicable Pricing Level shall be based
on the Pricing Level which is one above that corresponding to the lower
Rating.  If no Rating exists, the applicable Pricing Level shall be
based on Pricing Level V until the earlier of (A) such time as S&P
and/or Moody's provides another Rating or (B) the Required Lenders have
agreed to an alternative pricing grid or other method for determining Pricing
Levels pursuant to an effective amendment to this Credit Agreement.

As
used herein:

           
"Rating" means the senior unsecured (non-credit enhanced) long term
debt rating of the Borrower, as published by S&P and/or Moody's.

 

         "Split Rating"
means the ratings of S&P and Moody's would indicate different Pricing
Levels, but the Pricing Levels are not more than one Pricing Level apart.

 

         "Double Split Rating"
means the ratings of S&P and Moody's would indicate different Pricing
Levels, but the Pricing Levels are two or more Pricing Levels apart.

Schedule 2.1(a)
Lenders/Commitments as of Closing Date

 	
Lender

	
 

Revolving Commitments

	
 

Term Loan Commitments

	 	
Revolving

Commitment

	
Revolving Commitment Percentage

	
Term Loan

Commitment

	
Term Loan Commitment Percentage

	
JP Morgan
Chase 

270 Park Avenue

New York, NY 10017

Attn:Barry Bergman

Tel:  (212) 270-0203

Fax:  (212) 270-5646

	
$15,750,000

	
5.25%

	
$49,250,000

	
14.072%

	
Fleet
National Bank

100 Federal Street

MHDE 10009E

Boston, MA  02110

Attn: Thomas J. Bullard

Tel:  (617) 434-3824

Fax:  (617) 434-6685

	
$15,750,000

	
5.25%

	
$44,250,000

	
12.643%

	
Bank
of America, N.A.

901 Main Street, 64th Floor

Dallas, TX 75202

Attn:  Daniel M. Killian

Tel:  (214) 209-0978

Fax:  (214) 209-0905

	
$58,000,000

	
19.333%

	
$0

	
0%

	
Citicorp USA, Inc.

399 Park Avenue, 5th Floor

New York, NY 10043

Attn:  Robert Kane

Tel:  (212) 559-3414

Fax:  (212) 793-7590

	
$58,000,000

	
19.333%

	
$0

	
0%

	
Wachovia Bank, National Association 

1339 Chestnut Street - PA4843

Philadelphia, PA 19107

Attn:  Tony Braxton

Tel:  (267) 321-6606

Fax:  (267) 321-6700

	
$0

	
0%

	
$58,000,000

	
16.571%

	
SunTrust Bank

6410 Poplar Avenue, Suite 320

Memphis, TN  38119

Attn:  Bryan W. Ford

Tel:  (901) 762-9862

Fax:  (901) 766-7565

	
$20,000,000

	
6.667%

	
$38,000,000

	
10.857%

 	
Lender

	
 

Revolving Commitments

	
 

Term Loan Commitments

	 	
Revolving

Commitment

	
Revolving Commitment Percentage

	
Term Loan

Commitment

	
Term Loan Commitment Percentage

	
Bank One, NA

1 Bank One Plaza

Suite IL1-0086

Chicago, IL 60670

Attn:  John D. Runger

Tel:  (312) 732-7101

Fax:  (312) 336-4380

	
$0

	
0%

	
$12,500,000

	
3.571%

	
National City Bank

1900 E. Ninth Street

Loc.#2077

Cleveland, OH 44114

Attn:  James C. Ritchie

Tel:  (216) 525-9918

Fax:  (216) 222-0003

	
$12,500,000

	
4.167%

	
$12,500,000

	
3.571%

	
Union Bank of California, N.A.

350 California Street, 6th Floor

San Francisco, CA 94104

Attn:  Terry Rocha

Tel:  (415) 705-7594

Fax:  (415) 705-7085

	
$10,000,000

	
3.333%

	
$15,000,000

	
4.286%

	
Keybank National Association

127 Public Square

Mail Code: OH-01-27-0606

Cleveland, OH 44114

Attn:  Mary Young

Tel:  (216) 689-4443

Fax:  (216) 689-4981

	
$20,000,000

	
6.667%

	
$0

	
0%

	
U.S. Bank National Association

One U.S. Bank Plaza, TRAM 12-3

St. Louis, MO 63101

Attn:  Amanda A. Smith

Tel:  (314) 418-3638

Fax:  (314) 418-3859

	
$15,000,000

	
5.000%

	
$10,000,000

	
2.857%

	
Union Planters Bank N.A.

6200 Poplar Avenue

Memphis, TN 38109

Attn:  Craig Gardella

Tel:  (901) 580-5507

Fax:  (901) 580-5451

	
$12,500,000

	
4.167%

	
$5,000,000

	
1.429%

 	
Lender

	
 

Revolving Commitments

	
 

Term Loan Commitments

	 	
Revolving

Commitment

	
Revolving Commitment Percentage

	
Term Loan

Commitment

	
Term Loan Commitment Percentage

	
The Bank of New York

One Wall Street, 8th Floor

New York, NY 10286

Retailing Industry Division

Attn:  Lucille Madde

Tel:  (212) 635-7879

Fax:   (212) 635-1481/1483

	
$12,500,000

	
4.167%

	
$0

	
0%

	
Fifth Third Bank

38 Fountain Square Plaza

MD109154

Cincinnatti, OH 45263

Attn:  Megan Heisel

Tel:  (513) 744-8662

Fax:  (513) 744-5947

	
$12,500,000

	
4.167%

	
$5,000,000

	
1.429%

	
UMB Bank, n.a.

1010 Grand Boulevard

Kansas City, MO 64106

Attn:  Charles J. Wolf

Tel:  (816) 860-7130

Fax:  (816) 860-7143

	
$10,000,000

	
3.333%

	
$0

	
0%

	
First Tennessee Bank National Association

165 Madison Avenue, 9th Floor

Memphis, TN 38103-2723

Attn:  James H. Moore, Jr.

Tel:  (901) 523-4108

Fax:  (901) 523-4267

	
$10,000,000

	
3.333%

	
$0

	
0%

	
Hibernia National Bank

313 Carondelet Street

New Orleans, LA 70130

Attn:  Andrew B. Booth

Tel:  (504) 533-3142

Fax:  (504) 533-5344

	
$5,000,000

	
1.667%

	
$0

	
0%

	
BNP Paribas 

1200 Smith, Suite 3100

Houston, TX 77002

Attn:  Leah E. Hughes

Tel:  (713) 982-1120

Fax:  (713) 659-5305

	
$0

	
0%

	
$28,000,000

	
8.000%

	
The Northern Trust Company

50 South LaSalle, 11th Floor

Chicago, IL 60675

Attn:  John Burda

Tel:  (312) 444-3455

Fax:  (312) 444-5055

	
$12,500,000

	
4.166%

	
$12,500,000

	
3.572%

 
 	
Lender

	
 

Revolving Commitments

	
 

Term Loan Commitments

	 	
Revolving

Commitment

	
Revolving Commitment Percentage

	
Term Loan

Commitment

	
Term Loan Commitment Percentage

	
Credit Lyonnais New York Branch

2200 Ross Avenue, Suite 4400 West

Dallas, TX 75201

Attn:  Tom Blake

Tel:  (214) 220-2332

Fax:  (214) 220-2323

	
$0

	
0%

	
$20,000,000

	
5.714%

	
The Norinchukin Bank, New York Branch

245 Park Avenue, 29th Floor

New York, NY 10167

Attn:  Nicholas Fiore

Tel:  (212) 697-1717

Fax:  (212) 697-5754

	
$0

	
0%

	
$20,000,000

	
5.714%

	
Regions Bank

417 North 20th Street

Birmingham, AL 35203

Attn:  Sam Prudhomme

Tel:  (205) 326-7025

Fax:  (205) 326-7788

	
$0

	
0%

	
$20,000,000

	
5.714%

	
Totals:

	
$300,000,000

	
100%

	
$350,000,000

	
100%

Schedule 2.1(b)(i)

FORM OF NOTICE OF BORROWING

Fleet National Bank,

as Administrative Agent for the Lenders

100 Federal Street

MADE10307C

Boston, MA  02110

Attn:  Agency Services

Ladies and Gentlemen:

The undersigned, AUTOZONE, INC. (the "Borrower"), refers
to the Amended and Restated Credit Agreement dated as of May 21, 2002 (as
amended, modified, extended or restated from time to time, the "Credit
Agreement"), among the Borrower, the Lenders, Fleet National Bank,
as Administrative Agent and JPMorgan Chase Bank, as Syndication Agent. 
Capitalized terms used herein and not otherwise defined herein shall have
the meanings assigned to such terms in the Credit Agreement.  The
Borrower hereby gives notice pursuant to Section 2.1 of the Credit Agreement
that it requests a Revolving Loan advance under the Credit Agreement, and
in connection therewith sets forth below the terms on which such Revolving
Loan advance is requested to be made:

(A)    Date of Borrowing (which is a Business Day)               
________________________________

(B)    Principal Amount of Borrowing                                   
________________________________

(C)    Interest rate basis                                                       
________________________________

(D)    Interest Period and the last day thereof                       
________________________________

        In accordance with the requirements
of Section 4.2, the Borrower hereby reaffirms the representations and warranties
set forth in the Credit Agreement as provided in subsection (b) of such
Section, and confirms that the matters referenced in subsections (c), (d)
and (e) of such Section, are true and correct.

Very
truly yours,

 

AUTOZONE, INC.

 

By:    ________________________________

Name:   
_____________________________

Title:   
______________________________

Schedule 2.1(e)

FORM OF REVOLVING NOTE

 

 

 

May 22, 2001

        FOR VALUE RECEIVED, AUTOZONE,
INC., a Nevada corporation (the "Borrower"), hereby promises
to pay to the order of __________________________, its successors and assigns
(the "Lender"), at the office of Fleet National Bank, as Administrative
Agent (the "Administrative Agent"), at 100 Federal Street, MADE10307C,
Boston, MA  02110 Attn:  Agency Services (or at such other place
or places as the holder hereof may designate), at the times set forth in
the Amended and Restated Credit Agreement, dated as of May 21, 2002, among
the Borrower, the Lenders, the Administrative Agent and the Syndication
Agent (as it may be amended, modified, extended or restated from time to
time, the "Credit Agreement"; all capitalized terms not otherwise
defined herein shall have the meanings set forth in the Credit Agreement),
but in no event later than the Termination Date, in Dollars and in immediately
available funds, the aggregate unpaid principal amount of all Revolving
Loans made by the Lender to the Borrower pursuant to the Credit Agreement,
and to pay interest from the date hereof on the unpaid principal amount
hereof, in like money, at said office, on the dates and at the rates selected
in accordance with Section 2.1(d) of the Credit Agreement.

        Upon the occurrence and during
the continuance of an Event of Default, the balance outstanding hereunder
shall bear interest as provided in Section 3.1 of the Credit Agreement. 
Further, in the event the payment of all sums due hereunder is accelerated
under the terms of the Credit Agreement, this Note, and all other indebtedness
of the Borrower to the Lender shall become immediately due and payable,
without presentment, demand, protest or notice of any kind, all of which
are hereby waived by the Borrower.

        In the event this Note is
not paid when due at any stated or accelerated maturity, the Borrower agrees
to pay, in addition to the principal and interest, all costs of collection,
including reasonable attorneys' fees.

        All borrowings evidenced
by this Note and all payments and prepayments of the principal hereof and
interest hereon and the respective dates thereof shall be endorsed by the
holder hereof on a schedule attached hereto and incorporated herein by
reference, or on a continuation thereof which shall be attached hereto
and made a part hereof; provided, however, that any failure
to endorse such information on such schedule or continuation thereof shall
not in any manner affect the obligation of the Borrower to make payments
of principal and interest in accordance with the terms of this Note.

        This Note and the Revolving
Loans evidenced hereby may be transferred in whole or in part only by registration
of such transfer on the Register maintained by or on behalf of the Borrower
as provided in Section 10.3(c) of the Credit Agreement.

        IN WITNESS WHEREOF, the Borrower
has caused this Note to be duly executed by its duly authorized officer
as of the day and year first above written.

 

AUTOZONE, INC.
 

By:    _____________________

Name:_____________________

Title:   
____________________

 

By:    _____________________

Name:_____________________

Title:   
____________________

Schedule 2.2(f)

FORM OF COMPETITIVE NOTE

May 22, 2001

 

 
       
FOR VALUE RECEIVED, AUTOZONE, INC., a Nevada corporation (the "Borrower"),
hereby promises to pay to the order of __________________________, its
successors and permitted assigns (the "Lender"), at the office of
Fleet National Bank, as Administrative Agent (the "Administrative Agent"),
at 100 Federal Street, MADE10307C, Boston, MA  02110 Attn: 
Agency Services (or at such other place or places as the holder hereof
may designate), at the times set forth in the Amended and Restated Credit
Agreement, dated as of May 21, 2002, among the Borrower, the Lenders, the
Administrative Agent and the Syndication Agent (as it may be amended, modified,
extended or restated from time to time, the "Credit Agreement";
all capitalized terms not otherwise defined herein shall have the meanings
set forth in the Credit Agreement), but in no event later than the Termination
Date, in Dollars and in immediately available funds, the aggregate unpaid
principal amount of all Competitive Loans made by the Lender to the Borrower
pursuant to the Credit Agreement, and to pay interest from the date hereof
on the unpaid principal amount hereof, in like money, at said office, on
the dates and at the rates selected in accordance with Section 2.2 of the
Credit Agreement and in the respective Competitive Bid applicable to each
Competitive Loan borrowing evidenced hereby.
        Upon the occurrence and during
the continuance of an Event of Default, the balance outstanding hereunder
shall bear interest as provided in Section 3.1 of the Credit Agreement. 
Further, in the event the payment of all sums due hereunder is accelerated
under the terms of the Credit Agreement, this Note, and all other indebtedness
of the Borrower to the Lender shall become immediately due and payable,
without presentment, demand, protest or notice of any kind, all of which
are hereby waived by the Borrower.

        In the event this Note is
not paid when due at any stated or accelerated maturity, the Borrower agrees
to pay, in addition to the principal and interest, all costs of collection,
including reasonable attorneys' fees.

        All borrowings evidenced
by this Note and all payments and prepayments of the principal hereof and
interest hereon and the respective dates thereof shall be endorsed by the
holder hereof on a schedule attached hereto and incorporated herein by
reference, or on a continuation thereof which shall be attached hereto
and made a part hereof; provided, however, that any failure
to endorse such information on such schedule or continuation thereof shall
not in any manner affect the obligation of the Borrower to make payments
of principal and interest in accordance with the terms of this Note.

        This Note and the Loans evidenced
hereby may be transferred in whole or in part only by registration of such
transfer on the Register maintained by or on behalf of the Borrower as
provided in Section 10.3(c) of the Credit Agreement.

        IN WITNESS WHEREOF, the Borrower
has caused this Note to be duly executed by its duly authorized officer
as of the day and year first above written.

 

AUTOZONE, INC.

By:   
_____________________

Name:_____________________

Title:   
____________________

 

By:    _____________________

Name:_____________________

Title:   
____________________

Schedule 2.3(d)

FORM OF SWINGLINE NOTE

May 21, 2001

 

 
               
FOR VALUE RECEIVED, AUTOZONE, INC., a Nevada corporation (the "Borrower"),
hereby promises to pay to the order of FLEET NATIONAL BANK., its
successors and assigns (the "Swingline Lender"), at the office of
Fleet National Bank, as Administrative Agent (the "Administrative Agent"),
at 100 Federal Street, MADE10307C, Boston, MA  02110 Attn: 
Agency Services (or at such other place or places as the holder hereof
may designate), at the times set forth in the Amended and Restated Credit
Agreement, dated as of May 21, 2002, among the Borrower, the Swingline
Lender the other Lenders, the Administrative Agent and the Syndication
Agent (as it may be amended, modified, extended or restated from time to
time, the "Credit Agreement"; all capitalized terms not otherwise
defined herein shall have the meanings set forth in the Credit Agreement),
but in no event later than the Termination Date, in Dollars and in immediately
available funds, the aggregate unpaid principal amount of all Swingline
Loans made by the Swingline Lender to the Borrower pursuant to the Credit
Agreement, and to pay interest from the date hereof on the unpaid principal
amount hereof, in like money, at said office, on the dates and at the rates
selected in accordance with Section 2.3(c) of the Credit Agreement.

        Upon the occurrence and during
the continuance of an Event of Default, the balance outstanding hereunder
shall bear interest as provided in Section 3.1 of the Credit Agreement. 
Further, in the event the payment of all sums due hereunder is accelerated
under the terms of the Credit Agreement, this Note, and all other indebtedness
of the Borrower to the Swingline Lender shall become immediately due and
payable, without presentment, demand, protest or notice of any kind, all
of which are hereby waived by the Borrower.
        In the event this Note is
not paid when due at any stated or accelerated maturity, the Borrower agrees
to pay, in addition to the principal and interest, all costs of collection,
including reasonable attorneys' fees.

        All borrowings evidenced
by this Note and all payments and prepayments of the principal hereof and
interest hereon and the respective dates thereof shall be endorsed by the
holder hereof on a schedule attached hereto and incorporated herein by
reference, or on a continuation thereof which shall be attached hereto
and made a part hereof; provided, however, that any failure
to endorse such information on such schedule or continuation thereof shall
not in any manner affect the obligation of the Borrower to make payments
of principal and interest in accordance with the terms of this Note.

        This Note and the Loans evidenced
hereby may be transferred in whole or in part only by registration of such
transfer on the Register maintained by or on behalf of the Borrower as
provided in Section 10.3(c) of the Credit Agreement.

        IN WITNESS WHEREOF, the Borrower
has caused this Note to be duly executed by its duly authorized officer
as of the day and year first above written.

 

AUTOZONE,
INC.

By:   
_____________________

Name:_____________________

Title:   
____________________

 

By:    _____________________

Name:_____________________

Title:   
____________________

 
Exhibit 2.4(e)

FORM OF TERM NOTE

 

 

 

 

 

May 23, 2002

 

 
               
FOR VALUE RECEIVED, AUTOZONE, INC., a Nevada corporation (the "Borrower"),
hereby promises to pay to the order of __________________________, its
successors and assigns (the "Lender"), at the office of Fleet National
Bank, as Administrative Agent (the "Administrative Agent"), at 100
Federal Street, MADE10307C, Boston, MA  02110 Attn: 
Agency Services (or at such other place or places as the holder hereof
may designate), at the times set forth in the Amended and Restated Credit
Agreement, dated as of May 21, 2002, among the Borrower, the Lenders and
the Administrative Agent (as it may be amended, modified, extended or restated
from time to time, the "Credit Agreement"; all capitalized terms
not otherwise defined herein shall have the meanings set forth in the Credit
Agreement), but in no event later than the Termination Date, in Dollars
and in immediately available funds, the aggregate unpaid principal amount
of such Lender's Term Loan Commitment Percentage, and to pay interest from
the date hereof on the unpaid principal amount hereof, in like money, at
said office, on the dates and at the rates selected in accordance with
Section 2.4(d) of the Credit Agreement.
        Upon the occurrence and during
the continuance of an Event of Default, the balance outstanding hereunder
shall bear interest as provided in Section 3.1 of the Credit Agreement. 
Further, in the event the payment of all sums due hereunder is accelerated
under the terms of the Credit Agreement, this Note, and all other indebtedness
of the Borrower to the Lender shall become immediately due and payable,
without presentment, demand, protest or notice of any kind, all of which
are hereby waived by the Borrower.

        In the event this Note is
not paid when due at any stated or accelerated maturity, the Borrower agrees
to pay, in addition to the principal and interest, all costs of collection,
including reasonable attorneys' fees.

        All borrowings evidenced
by this Note and all payments and prepayments of the principal hereof and
interest hereon and the respective dates thereof shall be endorsed by the
holder hereof on a schedule attached hereto and incorporated herein by
reference, or on a continuation thereof which shall be attached hereto
and made a part hereof; provided, however, that any failure
to endorse such information on such schedule or continuation thereof shall
not in any manner affect the obligation of the Borrower to make payments
of principal and interest in accordance with the terms of this Note.

        This Note and the Loans evidenced
hereby may be transferred in whole or in part only by registration of such
transfer on the Register maintained by or on behalf of the Borrower as
provided in Section 10.3(c) of the Credit Agreement.

        IN WITNESS WHEREOF, the Borrower
has caused this Note to be duly executed by its duly authorized officer
as of the day and year first above written.

AUTOZONE,
INC.

By:   
_____________________

Name:_____________________

Title:   
____________________

By:   
_____________________

Name:_____________________

Title:   
____________________

Schedule 2.4(f)
FORM OF

INCREMENTAL TERM LOAN COMMITMENT AGREEMENT

           
Reference is made to the Amended and Restated Credit Agreement dated as
of May 21, 2002, as amended and modified from time to time thereafter (the
"Credit Agreement") among AutoZone, Inc., the Lenders party thereto,
Fleet National Bank, as Administrative Agent and JP Morgan Chase Bank,
as Syndication Agent.  Terms defined in the Credit Agreement are used
herein with the same meanings.

        1.    The
undersigned Lender hereby confirms its Incremental Term Loan Commitment,
effective as of the Effective Date set forth below, to make an incremental
Term Loan under the Credit Agreement up to the principal amount of such
Term Loan Commitment as set forth below.  If the undersigned Lender
is already a Lender under the Credit Agreement, such Lender acknowledges
and agrees that such incremental Term Loan is in addition to any existing
Term Loan Commitment of such Lender under the Credit Agreement.  If
the undersigned Lender is not already a Lender under the Credit Agreement,
such Lender hereby acknowledges, agrees and confirms that, by its execution
of this Incremental Term Loan Commitment Agreement, such Lender will, as
of the Effective Date, be a party to the Credit Agreement and be bound
by the provisions of the Credit Agreement and, to the extent of its Incremental
Term Loan Commitment, have the rights and obligations of a Lender thereunder.

        2.    This
Incremental Term Loan Commitment Agreement shall be governed by and construed
in accordance with the laws of the State of New York.

        3.    This
Incremental Term Loan Commitment Agreement may be executed in any number
of counterparts, each of which where so executed and delivered shall be
an original, but all of which shall constitute one and the same instrument.

It shall not be necessary in making proof of this Incremental Term Loan
Commitment Agreement to produce or account for more than one such counterpart.

Amount of Incremental Term Loan Commitment                   
$____________________

Effective Date of Incremental Term Loan Commitment           
_____________________, 20___

 

 

The terms
set forth above

are hereby agreed to:
[Lender]

By:   
_______________________

Name:_______________________

Title:_________________________

 

CONSENTED TO:

FLEET NATIONAL BANK, N.A.,

as Administrative Agent

By:    _______________________

Name:_______________________

Title:_________________________

 

AUTOZONE, INC.

By:    _______________________

Name:_______________________

Title:_________________________

By:    _______________________

Name:_______________________

Title:_________________________

Schedule 3.2
FORM OF NOTICE OF EXTENSION/CONVERSION

 

 

Fleet
National Bank,

100 Federal Street

MADE10307C

Boston, MA  02110

Attn:  Agency Services

 

 
Ladies and Gentlemen:

The undersigned, AutoZone, Inc. (the "Borrower"), refers to the
Amended and Restated Credit Agreement dated as of May 21, 2002 (as amended,
modified, extended or restated from time to time, the "Credit Agreement"),
among the Borrower, the Lenders, Fleet National Bank, as Administrative
Agent and JPMorgan Chase Bank, as Syndication Agent.  Capitalized
terms used herein and not otherwise defined herein shall have the meanings
assigned to such terms in the Credit Agreement.  The Borrower hereby
gives notice pursuant to Section 3.2 of the Credit Agreement that it requests
an extension or conversion of a Revolving Loan or a Term Loan (or portion
thereof) outstanding under the Credit Agreement, and in connection therewith
sets forth below the terms on which such extension or conversion is requested
to be made:

 

(A)    Date of Extension or Conversion

        (which is the last day of
the

        the applicable Interest
Period)                           
_____________________________
(B)    Principal Amount of

        Extension or Conversion                                   
_____________________________

(C)    Interest rate basis                                           
_____________________________

(D)    Interest Period and the

        last day thereof                                               
_____________________________

        In accordance with the requirements
of Section 4.2, the Borrower hereby reaffirms the representations and warranties
set forth in the Credit Agreement as provided in subsection (b) of such
Section, and confirms that the matters referenced in subsections (c), (d)
and (e) of such Section, are true and correct.

 

Very truly yours,

 

AUTOZONE, INC.

By:    ________________________________

Name:    _____________________________

Title:    ______________________________

Schedule 4.1(g)

FORM OF LEGAL OPINION
This is the form of legal opinion delivered by AutoZone

in connection with prior AutoZone credit facilities.

[DATE]

Fleet National Bank, as Administrative Agent,

    and each of the Lenders party to the

    Credit Agreements referred to below

c/o Fleet National Bank

Agency Services

100
Federal Street

MADE10307C

Boston, MA  02110 Attn:  Agency Services
            RE:   
AutoZone, Inc. Syndicated Credit Agreement

 

Ladies and Gentlemen:
        I am the Senior Vice President,
Secretary and General Counsel of AutoZone, Inc., a Nevada corporation ("AutoZone"),
and am familiar with the transactions contemplated by the Amended and Restated
Credit Agreement dated as of May 21, 2002, among AutoZone, Inc., as Borrower,
the several Lenders from time to time party thereto, Fleet National Bank
as Administrative Agent, Chase Manhattan Bank, as Syndication Agent ("Credit
Agreement").  Unless the context otherwise requires, all terms used
in this opinion which are specifically defined in the Credit Agreement
shall have the meanings given such terms in the Credit Agreement.

        In connection with the opinions
expressed below, I have examined, or caused to be examined, the Credit
Documents.  I have relied upon the representations and warranties
contained in each of such documents and upon originals or copies, certified
or otherwise identified to my satisfaction, of such corporate records,
documents and other instruments as in my judgment are relevant to rendering
the opinions expressed below.  As to all matters of fact covered by
such documents, I have relied, without independent investigation or verification
on such documents.  In such examination, I have assumed that each
of the parties to the Credit Agreement, other than AutoZone, had and has,
as the case may be, full power, authority and legal right to enter into
each Credit Document to which it is a party and that each such Credit Document
was or has been, as the case may be, duly authorized, executed and delivered
by each of such parties.

        Based on the foregoing, it
is my opinion that:

(i)       
Each of the Company and its subsidiaries has been duly organized and is
validly existing as a corporation or limited partnership under the laws
of the jurisdiction of its organization, with corporate or partnership,
as the case may be, power and authority to own its properties and conduct
its ordinary course of business;

 

(ii)        Each of the Company
and its subsidiaries has been duly qualified as a foreign corporation or
limited partnership, as the case may be, for the transaction of business
and is in good standing under the laws of each jurisdiction in which it
owns or leases properties, or conducts any business, so as to require such
qualification, or is subject to no material liability or disability by
reason of failure to be so qualified in any such jurisdiction;
(iii)        Each of the Credit Documents
to which AutoZone is a party, was or has been, as the case may be, duly
authorized, executed and delivered by AutoZone and together constitute
the legal, valid and binding obligations of AutoZone enforceable against
AutoZone in accordance with its and their terms.

        The opinions expressed in paragraph
(iii) above are based upon the assumption for purposes of such opinions
and without independent analysis that notwithstanding the respective choice
of law clauses in the Credit Documents, the governing law with respect
to each of the Credit Documents is identical in all relevant respects to
the law of the State of Tennessee.  Insofar as such opinion relates
to the enforceability of any instrument, such enforceability is subject
to applicable bankruptcy, insolvency and other similar laws affecting the
enforcement of creditors' rights generally whether such enforceability
is considered in a proceeding in equity or at law).  The enforceability
of the remedies provided under the Credit Agreement may also be limited
by applicable laws which may affect the remedies provided therein but which
do not in my opinion affect the validity of the Credit Agreement or make
such remedies inadequate for the practical realization of the benefits
intended to be provided.
        I do not express any opinion
as to matters governed by any law other than the Federal laws of the United
States of America, the corporation law of the State of Nevada and the laws
of the State of Tennessee.  Further, I express no opinion as to the
enforceability of the choice of law provisions contained in any of the
Credit Documents.

        This opinion is rendered
solely for your benefit in connection with the transactions described above. 
This opinion may not be used or relied upon by any other person, and may
not be disclosed, quoted, filed with a governmental agency or otherwise
referred to without my prior written consent except to your bank examiners,
auditors and counsel and to prospective transferees of your interests under
the Credit Documents and their professional advisers, or as required by
law or pursuant to legal process.

 

Very truly yours,

Schedule 5.5
Material Litigation

Coalition For a Level Playing Field

AutoZone, Inc., is a defendant in a lawsuit entitled "Coalition for
a Level Playing Field, L.L.C., et al., v. AutoZone, Inc., Wal-mart
Stores, Inc., Advance Auto Parts, Inc., The Pep Boys - Manny, Moe and Jack,
O'Reilly Automotive, Inc., and Keystone Automotive Operations, Inc.," filed
in the U.S. District Court for the Eastern District of New York in February
2000. The case was filed by over 100 plaintiffs, which are principally
automotive aftermarket warehouse distributors and jobbers. The plaintiffs
claim in the Complaint that the defendants have knowingly received volume
discounts, rebates, slotting and other allowances, fees, free inventory,
sham advertising and promotional payments, a share in the manufacturers'
profits, and excessive payments for services purportedly performed for
the manufacturers in violation of the Robinson-Patman Act. The plaintiffs,
in an amended Complaint, stated that they seek substantially more than
$1 billion in damages (including statutory trebling) and a permanent injunction
prohibiting defendants from committing further violations of the Robinson-Patman
Act and from opening any further stores to compete with plaintiffs as long
as defendants continue to violate the Act.  AutoZone, Inc., answered
the complaint on February 15, 2002, denying the plaintiff's allegations.
The parties will now enter into a period of discovery related to the merits
of the case.  The Company will vigorously defend against this case,
and believes the suit to be without merit and that the Company will ultimately
prevail.  The Company currently believes that this matter will not
likely result in liabilities material to the Company's financial condition
or results of operations.

Schedule 5.12
Subsidiaries

 

AutoZone, Inc. as of May 20, 2002
Status:               
Active

Incorporation    Nevada

Federal ID#        62-1482048

 

Subsidiaries

ADAP, Inc.

ALLDATA LLC

AutoZone de Mexico, S. de R.L. de C.V.

AutoZone Development Corporation

60 Madison Avenue, LLC

AutoZone Mississippi Properties, Inc.

AutoZone Florida, L.P.

AutoZone Properties, Inc.

AutoZone Stores, Inc.

AutoZone Mississippi, Inc.

AutoZone Indiana, L.P.

AutoZone Texas, L.P.

AutoZone.com, Inc.

AutoZoners, Inc.

AZ Florida Properties, Inc.

Chief Auto Parts Inc.

DataZone, S. de R.L. de C.V.

ServiceZone, S. de R. L. de C.V.

Speedbar, Inc.

AZTP Holdings, LLC

Zone Compra, S. de R.L. de C.V.

Schedule 6.1(c)
FORM OF OFFICER'S COMPLIANCE CERTIFICATE

 

 

       
For the fiscal quarter ended _________________, 20___.
        I, ______________________,
[Title]
of AutoZone, Inc. (the "Borrower") hereby certify that, to the best
of my knowledge and belief, with respect to that certain Amended and Restated
Credit Agreement dated as of May 21, 2002 (as amended, modified, extended
or restated from time to time, the "Credit Agreement"; all of the
defined terms in the Credit Agreement are incorporated herein by reference)
among the Borrower, the Lenders party thereto, Fleet National Bank, as
Administrative Agent and JPMorgan Chase Bank, as Syndication Agent.

a.       
The company-prepared financial statements which accompany this certificate
are true and correct in all material respects and have been prepared in
accordance with GAAP applied on a consistent basis, subject to changes
resulting from normal year-end audit adjustments.
b.        Since ___________ (the
date of the last similar certification, or, if none, the Closing Date)
no Default or Event of Default has occurred under the Credit Agreement;
and

Delivered
herewith are detailed calculations demonstrating compliance by the Borrower
with the financial covenants contained in Section 6.10 and Section 6.11
of the Credit Agreement as of the end of the fiscal period referred to
above.
        This ______ day of ___________,
20__.

                             
AUTOZONE, INC.

By:    ________________________________

Name:    _____________________________

Title:    ______________________________

Schedule 7.5
Subsidiary Indebtedness

 

AutoZone, Inc. as of May 4, 2002
Subsidiary Indebtedness

 

	
 

Subsidiary

	 	
Indebtedness 

as of 05/04/02

	
Chief Auto Parts, Inc.

		
$4,742,255.04 

	
AutoZone Texas, L.P.

		
$12,925,000.00 

Schedule 10.3(b)
FORM OF ASSIGNMENT AND ACCEPTANCE

 

       
THIS ASSIGNMENT AND ACCEPTANCE dated as of _______________, 200_ is entered
into between ________________ ("Assignor") and ____________________
("Assignee").
        Reference is made to the
Amended and Restated Credit Agreement dated as of May 21, 2002, as amended
and modified from time to time thereafter (the "Credit Agreement")
among AutoZone, Inc., the Lenders party thereto, Fleet National Bank, as
Administrative Agent and JPMorgan Chase Bank as Syndication Agent. 
Terms defined in the Credit Agreement are used herein with the same meanings.

        1.       
The Assignor hereby sells and assigns, without recourse, to the Assignee,
and the Assignee hereby purchases and assumes from the Assignor, effective
as of the Effective Date set forth below, the interests set forth below
(the "Assigned Interest") in the Assignor's rights and obligations
under the Credit Agreement, including, without limitation, the interests
set forth below in the Commitments and outstanding Loans of the Assignor
on the effective date of the assignment designated below (the "Effective
Date"), together with unpaid Fees accrued on the assigned Commitments
to the Effective Date and unpaid interest accrued on the assigned Loans
to the Effective Date.  Each of the Assignor and the Assignee hereby
makes and agrees to be bound by all the representations, warranties and
agreements set forth in Section 10.3(b) of the Credit Agreement, a copy
of which has been received by the Assignee.  From and after the Effective
Date (i) the Assignee, if it is not already a Lender under the Credit Agreement,
shall be a party to and be bound by the provisions of the Credit Agreement
and, to the extent of the interests purchased and assumed by the Assignee
under this Assignment and Acceptance, have the rights and obligations of
a Lender thereunder and (ii) the Assignor shall, to the extent of the interests
sold and assigned by the Assignor under this Assignment and Acceptance,
relinquish its rights and be released from its obligations under the Credit
Agreement.

        2.       
This Assignment and Acceptance shall be governed by and construed in accordance
with the laws of the State of New York.

        3.       
Terms of Assignment

(a)       
Date of Assignment:
(b)        Legal Name of Assignor:

(c)        Legal Name of Assignee:

(d)        Effective Date of Assignment:

(e)        Commitments of Assignee

           
after giving effect to this

           
Assignment and Acceptance as

           
of the Effective Date

   
(i)    Term Loan Commitments                
$_________________

    (ii)    Revolving Commitment                   
$_________________

(f)       
Commitments of Assignor

           
after giving effect to this

           
Assignment and Acceptance as

           
of the Effective Date

   
(i)    Term Loan Commitment                    
$_________________

    (ii)    Revolving Commitment                     
$_________________

(g)       
Commitment Percentages of Assignee

           
after giving effect to this

           
Assignment and Acceptance

           
as of the Effective Date

           
(set forth to at least 8 decimals)

   
(i)    Term Loan Commitment Percentage   
______________%

   
(ii)    Revolving Commitment Percentage   
______________%

(h)       
Commitment Percentages of Assignor

           
after giving effect to this

           
Assignment and Acceptance

           
as of the Effective Date

           
(set forth to at least 8 decimals)

   
(i)    Term Loan Commitment Percentage   
______________%

   
(ii)    Revolving Commitment Percentage   
______________%

       
4.        This Assignment and Acceptance
shall be effective only upon consent of the Borrower and the Administrative
Agent, if applicable, delivery to the Administrative Agent of this Assignment
and Acceptance together with the transfer fee payable pursuant to Section
10.3(b) in connection herewith and recordation in the Register pursuant
to Section 10.3(c) of the terms hereof.
        5.       
This Assignment and Acceptance may be executed in any number of counterparts,
each of which where so executed and delivered shall be an original, but
all of which shall constitute one and the same instrument.  It shall
not be necessary in making proof of this Assignment and Acceptance to produce
or account for more than one such counterpart.

The terms set forth above

are hereby agreed to:

_____________________, as Assignor

By:_____________________

Name:___________________

Title:____________________

_____________________,
as Assignee

By:_____________________

Name:___________________

Title:____________________

Notice address of Assignee:

 

<<Assignee>>

_____________________

_____________________

Attn:_________________

Telephone: (___) ________

Telecopy: (___) _________

 

CONSENTED TO:
FLEET NATIONAL BANK,

as Administrative Agent

By:_____________________

Name:___________________

Title:____________________

 

AUTOZONE, INC.

By:_____________________

Name:___________________

Title:____________________EMPLOYMENT AND NON-COMPETE AGREEMENT

EXECUTION COPY 8/16/2001

EMPLOYMENT AND NON-COMPETE AGREEMENT

        THIS AGREEMENT is between AutoZone,
Inc., a Nevada corporation and its various subsidiaries (collectively "AutoZone"),
and William C. Rhodes, III an individual ("Employee") dated as of June
20, 2001 ("Effective Date").

For good and valuable consideration, the receipt and sufficiency of which
is hereby acknowledged, the parties are agreed as follows:

1.        Employment.  AutoZone
agrees to employ Employee and Employee agrees to remain in the employment
of AutoZone, or a subsidiary or affiliate, until the expiration or earlier
termination of this Agreement.

2.        Term.  This agreement
shall be effective as of the Effective Date and shall continue for a period
of two years unless it is earlier terminated pursuant to Paragraph 8, 9,
or 10.

3.        Salary.  Employee
shall receive a salary from AutoZone as follows:  During the term
of this Agreement, Employee shall receive annual compensation of two hundred
thousand dollars ($200,000), subject to increases as determined by the
Compensation Committee of the Board of Directors ("Base Salary"). 
The Base Salary amount shall be paid on a pro-rated basis for all partial
years based on a 364 day year. AutoZone reserves the right to increase
the Base Salary above the amounts stated above in its sole discretion.
All salary shall be paid at the same time and in the same manner that AutoZone's other officers are paid.

4.        Bonus.  During
the term of this Agreement, Employee shall receive a bonus up to 50% of
his Base Salary in accordance with policies and procedures established
by AutoZone's Compensation Committee and Board of Directors which shall
be based upon the financial and operational goals and objectives for the
Employee and AutoZone established by the Compensation Committee for each
of AutoZone's fiscal years ("Target") in accordance with AutoZone's Executive
Incentive Compensation Plan.  The Target is established at the sole
discretion of the Compensation Committee and Board of Directors and is
subject to review and revision at any time upon notification to the Employee. 
All bonuses shall be paid at the same time and in the same manner that
AutoZone's other officers are paid.

5.        Duties.  Employee
shall serve as AutoZone's Senior Vice President performing such duties
as AutoZone's Board of Directors may direct from time to time and as are
normally associated with such a position. AutoZone may, in its sole discretion,
alter, expand or curtail the services to be performed by Employee or position
held by Employee from time to time, without adjustment in compensation.
Employee shall devote his entire time and attention to AutoZone's business.
During the term of this Agreement, Employee shall not engage in any other
business activity that conflicts with his duties with AutoZone, regardless
of whether it is pursued for gain or profit. Employee may, however, invest
his assets in or serve on the Board of Directors of other companies so
long as they do not require Employee's services in the day to day operation
of their affairs and do not violate AutoZone's conflict of interest policy. 
Notwithstanding, Employee may from time to time invest deminimus amounts
in the publicly traded stock of Competitors upon written approval of AutoZone's
General Counsel.

6.        Other Benefits.  Other
benefits to be received by Employee from AutoZone shall be the ordinary
benefits received by AutoZone's other executive officers, which may be
changed by AutoZone in its sole discretion from time to time.

7.        Taxes.  Employee
understands that all salary, bonus and other benefits will be subject to
reduction for amounts required to be withheld by law as taxes and otherwise.

8.        Termination by AutoZone.
(a) Without Cause.  AutoZone may terminate this
Agreement without Cause at any time upon notice to Employee. In such event,
Employee shall continue to be paid his then current Base Salary (on a pro-rated
basis in the same manner as Employee is then receiving his base salary)
until two years after the termination date ("Continuation Period"). 
During the Continuation Period, Employee shall not receive any bonus payments. 
During the Continuation Period, Employee shall continue to be an employee
of AutoZone or a subsidiary of AutoZone available to perform such services
as may be requested by the Chief Executive Officer of AutoZone, and Employee's
stock options shall continue to vest and may be exercised in the manner
set forth in the respective stock option agreements until the end of the
Continuation Period, at which time Employee's employment with AutoZone
shall be terminated and further stock option exercise and vesting shall
be governed by the terms of the stock option agreement.  During the
Continuation Period, Employee shall receive such other benefits as other
employees of AutoZone, including, but not limited to, health and life insurance,
on the same terms and conditions.  AutoZone shall pay Employee a prorated
bonus for the fiscal year in which this Agreement is terminated pursuant
to this paragraph calculated based on the period of time elapsed during
such fiscal year until this Agreement is terminated and the formula established
by the Compensation Committee for officers for that fiscal year. 
Said bonus shall be paid when other officer bonuses are paid for that fiscal
year.  AutoZone shall have no other obligations other than those stated
herein upon the termination of this Agreement and Employee hereby releases
AutoZone from any and all obligations and claims except those as are specifically
set forth herein.
(b) With Cause.  AutoZone shall have the right to terminate
this Agreement and Employee's employment with AutoZone and all subsidiaries
of AutoZone for Cause at any time.  Upon such termination for Cause,
Employee shall have no right to receive any compensation, salary, or bonus
and shall immediately cease to receive any benefits (other than those as
may be required pursuant to the AutoZone Pension Plan or by law) and any
stock options shall be governed by the respective stock option agreements
in effect between the Employee and AutoZone at that time.  "Cause"
shall mean the willful engagement by the Employee in conduct which is demonstrably
or materially injurious to AutoZone or any subsidiary of AutoZone, monetarily
or otherwise.  For this purpose, no act or failure to act by the Employee
shall be considered "willful" unless done, or omitted to be done, by the
Employee not in good faith and without reasonable belief that his action
or omission was in the best interest of AutoZone or any subsidiary of AutoZone.

9.        Termination by Employee. 
Employee may terminate this Agreement at anytime upon written notice
to AutoZone. Upon such termination, Employee's employment shall terminate
and Employee shall cease to receive any further salary, benefits, or bonus,
and all stock options granted shall be governed by the respective stock
option agreement(s) between the Employee and AutoZone.

10.        Termination by Employee
upon a Change of Control.  Employee may terminate this Agreement
upon a Change of Control of AutoZone by giving written notice to AutoZone
within sixty days of the occurrence of a Change of Control.  Upon
giving such notice to AutoZone, Employees employment shall terminate and
Employee shall cease to receive any payments or benefits pursuant this
Agreement and all stock options held by Employee shall be governed by the
respective stock option agreement(s).  Any of the following events
shall constitute a "Change of Control":  (a) the acquisition after
the date hereof, in one or more transactions, of beneficial ownership (as
defined in Rule 13d-3(a)(1) under the Securities Exchange Act of 1934,
as amended ("Exchange Act")), by any person or entity or any group of persons
or entities who constitute a group (as defined in Section 13(d)(3) under
the Exchange Act) of any securities such that as a result of such acquisition
such person, entity or group beneficially owns AutoZone, Inc.'s then outstanding
voting securities representing 51% or more of the total combined voting
power entitled to vote on a regular basis for a majority of the board of
Directors of AutoZone, Inc. or (b) the sale of all or substantially all
of the assets of AutoZone (including, without limitation, by way of merger,
consolidation, lease or transfer) in a transaction where AutoZone or the
beneficial owners (as defined in Rule 13d-3(a)(1) under the Exchange Act)
of capital stock of AutoZone do not receive (i) voting securities representing
a majority of the total combined voting power entitled to vote on a regular
basis for the board of directors of the acquiring entity or of an affiliate
which controls the acquiring entity or (ii) securities representing a majority
of the total combined equity interest in the acquiring entity, if other
than a corporation; provided however, that the foregoing provisions of
this Paragraph 10 shall not apply to any transfer, sale or disposition
of shares of capital stock of AutoZone to any person or persons who are
affiliates of AutoZone on the date hereof.

11.        Effect of Termination. 
Any termination of Employee's service as an officer of AutoZone shall
be deemed a termination of Employee's service on all boards and as an officer
of all subsidiaries of AutoZone.

12.        Non-Compete.  Employee
agrees that he will not, for the period commencing on the termination date
of this Agreement pursuant to Paragraph 8 or 9 (whichever is applicable)
of this Agreement and ending on

(i)
the date two years after said termination date of this Agreement if either
Employee voluntarily terminates this Agreement or this Agreement is terminated
by AutoZone for Cause or

(ii)
the end of the Continuation Period if this Agreement is terminated by AutoZone
without Cause,

be
engaged in or concerned with, directly or indirectly, any business related
to or involved in the retail sale of auto parts to "DIY" customers, or
the wholesale or retail sale of auto parts to commercial installers in
any state, province, territory or foreign country in which AutoZone or
any subsidiary of AutoZone operates now or shall operate during the term
set forth in this non-compete paragraph (herein called "Competitor"), as
an employee, director, consultant, benefi­cial or record owner, partner,
joint venturer, officer or agent of the Competitor.

The parties acknowledge and agree that the time, scope, geographic area
and other provisions of this Non-Compete section have been specifically
negotiated by sophisticated commercial parties and specifically hereby
agree that such time, scope, geographic area and other provisions are reasonable
under the circumstances and are in exchange for the obligations undertaken
by AutoZone pursuant to this Agreement. 

Further, Employee agrees not to hire, for himself or any other entity,
encourage anyone or entity to hire, or entice away from AutoZone any employee
of AutoZone or any subsidiary of AutoZone during the term of this non-compete
obligation.

If at any time a court of competent jurisdiction holds that any portion
of this Non-Compete section is unenforceable for any reason, then Employee
shall forfeit his right to any further salary, bonus, or benefits from
AutoZone during any Continuation Period.  This Paragraph 12 shall
not apply to a termination by Employee pursuant to Paragraph 10.

13.        Confidentiality. 
Unless otherwise required by law, Employee shall hold in confidence
any proprietary or confidential information obtained by him during his
employment with AutoZone, which shall include, but not be limited to, information
regarding AutoZone's present and future business plans, vendors, systems,
operations and personnel. Confidential information shall not include information:
(a) publicly disclosed by AutoZone; (b) rightfully received by Employee
from a third party without restrictions on disclosure (c) approved for
release or disclosure by AutoZone; or (d) produced or disclosed pursuant
to applicable laws, regulation or court order.  Employee acknowledges
that all such confidential or proprietary information is and shall remain
the sole property of AutoZone and all embodiments of such information shall
remain with AutoZone.

14.        Breach by Employee. 
The parties further agree that if, at any time, despite the express agreement
of the parties hereto, Employee violates the provisions of this Agreement
by violating the Non-Compete or Confidentiality sections, or by failing
to perform his obligations under this Agreement, AutoZone may cease paying
any further salary or bonus in addition to any other rights AutoZone may
have at law or equity.  In the event of breach by Employee of any
provision of this Agreement, Employee acknowledges that such breach will
cause irreparable damage to AutoZone, the exact amount of which will be
difficult or impossible to ascertain, and that remedies at law for any
such breach will be inadequate.  Accordingly, AutoZone shall be entitled,
in addition to any other rights or remedies existing in its favor, to obtain,
without the necessity for any bond or other security, specific performance
and/or injunctive relief in order to enforce, or prevent breach of any
such provision.

15.        Death of Employee or Disability. 
If Employee should die or become disabled (such that he is no longer
capable of performing his duties) during the term of this Agreement, then
all salary and bonus shall cease as of the date of his death or disability,
all stock options shall be governed by the terms of the respective stock
option agreements, and Employee shall receive disability or death benefits
as may be provided under AutoZone's then existing policies and procedures
related to disability or death of AutoZone employees.

16.        Waiver.  Any
waiver of any breach of this Agreement by AutoZone shall not operate or
be construed as a waiver of any subsequent breach by Employee. No waiver
shall be valid unless in writing and signed by an authorized officer of
AutoZone.

17.        Assignment.  Employee
acknowledges that his services are unique and personal. Accordingly, Employee
shall not assign his rights or delegate his duties or obligations under
this Agreement. Employee's rights and obligations under this Agreement
shall inure to the benefit of and be binding upon AutoZone successors and
assigns. AutoZone may assign this Agreement to any wholly-owned subsidiary
operating for the use and benefit of AutoZone.

18.        Entire Agreement. 
This Agreement contains the entire understanding of the parties related
to the matters discussed herein. It may not be changed orally but only
by an agreement in writing signed by the party against whom enforcement
of any waiver, change, modification, extension, or discharge is sought.

19.        Jurisdiction.  This
Agreement shall be governed and construed by the laws of the State of Tennessee,
without regard to its choice of law rules.  The parties agree that
the only proper venue for any dispute under this Agreement shall be in
the state or federal courts located in Shelby County, Tennessee.

20.        Survival.  Sections
8, 12, 13, 14 and 19 of this Agreement shall survive any termination of
this Agreement or Employee's employment with AutoZone (including, without
limitation termination pursuant to Paragraphs 8, 9, or 10).

IN WITNESS WHEREOF, the respective parties execute this Agreement.

AUTOZONE, INC.                                                   
EMPLOYEE

By:    /s/
Steve Odland_______                                     
William C. Rhodes, III

Title:    CEO                            

                                                                                 
Date     8/25/01

By:   
/s/ Harry L. Goldsmith    

Title:    Sr. V.P. & General Counsel

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